If you’ve been on the fence about buying a private jet, buy one right now. Do it. For those of you that already own a private aircraft, now is the time to upgrade. Right now. Here are the reasons why:
- The Dollar is Strong
The current state of the Dollar vs. the Euro (1.11:1.0 as of September 15) makes it easier for us to buy aircraft out of Europe. Also, keep in mind that European aircraft maintenance standards are very high, meaning most pre-owned planes bought out of Europe have been properly maintained. Buying a European pedigreed aircraft today makes a lot of sense—and could make you a lot of cents if you play your cards right.
- Fuel Prices are Low
As the price of oil continues to drop, so does that of jet fuel. Airlines are seeing record profits, and private aviation is seeing the benefits, as well. According to Michael Ervin of the Kent Consulting Group, cheap jet fuel is here to stay: “We think diesel and jet-fuel prices will remain, more or less in the region of where they are now, and that will be mainly due to the fact that crude oil prices are not expected to rise significantly in the near term. And with that, that will keep jet fuel prices relatively depressed for quite some time to come.”
- There are Good Choices
As corporations continue to grow and finally brush the dust off of their fleet replacement plans, an unprecedented number of great-pedigree jets have come on the market. As an example, Charlie Bravo has a Citation X and a Global XRS listed, both flown by well-known clothing companies.
- It’s a Buyer’s Market
As planes are changing hands and inventory levels stay steady, there are a lot of opportunities for buyers to find a great deal, if price is a strong driver. Lower overall fleet utilization over the last 7-8 years means that there are some low-time airframes available, if total time is a consideration. And while some markets are really tight (like the CJ1+, the G650, Phenom 300 and the King Air 350), if buyers are not dead set on one particular brand, there are usually good deals to be found in a fairly comparable model.
[ulp id=’xkA7bnsbSMSAnwAm’]
