Demand for private aircraft is booming – so much so that companies cannot produce them fast enough and buyers are faced with extended waiting periods for delivery. Even second-hand business jets are disappearing from the market.
According to Morgan Stanley, the number of business jet take-offs and landings in the US is up 40% year-on-year – and this is the highest point since the 2008 financial crisis.
According to John Schmidt, global aerospace and defence industry leader at consultancy Accenture – private flight activity is not only increasing in the US, but also by 20% in Europe. “For used business aircraft, the situation is really tight, inventories are at their lowest in years and prices are 20 to 30% higher,” he added. “So it’s a really hot market right now’.
When purchasing a private jet, it is important to consider what purpose it will be used for. The most important thing to determine is how the aircraft will be operated. First, it is necessary to determine what distances it will be designed for, whether for travel within countries, continents or intercontinentally. The second step is to determine how many passengers it will accommodate.
Sometimes buying a private jet can be totally unprofitable due to its infrequent use, so a better alternative would be to rent an aircraft for the time you need to use it. If you decide to buy it, you have to remember that when you buy from a manufacturer, the time when you will be able to use the aircraft can be from 6 months up to a year. On the secondary market, the waiting time is usually between 2 and 4 months.