JetBrokers Europe, the Farnborough-based European arm of JetBrokers Inc, remains optimistic about the pre-owned business jet market despite the continued global economic downturn. The company reported its best month on record in July in terms of pre-owned aircraft sales activity and strong months in August and September for new listings of pre-owned aircraft. The company started out two years ago as the European arm of long established JetBrokers Inc. Since then, JetBrokers Europe has firmly established itself in the pre-owned broker marketplace and is increasingly active in the mid-size jet market. Year to date, it has completed transactions with clients beyond Europe and the US with sales to Australasia and the Far East including a Cessna Citation Sovereign, Cessna Citation II, Cessna Citation X and Cessna Citation II/SP.
“Buyers are ever more demanding and taking an aggressive line much as they have over the past couple of years, but over the last six months we have experienced a sustained steady increase in activity with sales enquiries and new listings. Pre-owned aircraft continue to remain a sensible proposition for savvy buyers looking for a deal,” commented Tim Barber, Managing Director of JetBrokers Europe.
Significantly, there has been gradual improvement and increased market interest in Europe, especially in mid-size sector where the company has been growing its inventory over the past 12 months.
JetBrokers Europe and JetBrokers Inc currently have in excess of 40 aircraft listed, including jets, helicopters, and turboprops. JetBrokers Europe currently offers a diverse range of 10 exclusive listings on its books, including a Challenger 604 S/N 5415, Hawker 800XP S/N 258477, Premier 1A S/N RB181,Embraer Legacy S/N 145-0841 and a GIII S/N 0404. Brendan Lodge, Business Development Director commented, “We will be adding more midsize aircraft to our listings in the coming weeks, enabling us to offer buyers a greater selection of high quality, pre-owned super-midsize jets.”
Though far from perfect, the pre-owned market continues to show improvement globally. Tim Barber concludes: “We have become somewhat acclimatised to the depressed conditions but we continue to be busy generating interest in aviation transactions even whilst the market is still tough. JetBrokers Europe started trading in 2009 and despite the difficult economic climate since, we have continued to grow as a company. The market has been slowly improving in 2011 providing positive signs for business aircraft owners. Importantly, financing is looking a little easier to acquire and some banks are re-adjusting loan to value covenants resulting in aircraft coming to market, although deals are generally taking a little longer to complete than usual.”