JetBrokers Europe, the Farnborough-based European arm of JetBrokers Inc, reports the best month on record in July in terms of pre-owned aircraft sales activity. In addition to sales of smaller aircraft, the JetBrokers team completed transactions for two mid-sized jets in July, a 2008 Cessna Citation Sovereign S/N 680-0189 and a 2004 Cessna Citation X S/N 750-0228. Both aircraft were sold to private owners, based overseas.
“The Citation X sale demonstrated the strength of our transatlantic offering. Whilst the aircraft was US based, the owner was European, and with teams on both sides of the Atlantic we were able complete the transaction in less than three months,” commented JetBrokers Europe Managing Director Tim Barber. (The average Citation X has been on the market for over one year.) JetBrokers Europe also succeeded in selling the Sovereign to an Asian buyer in half the average time that the current stock of 680’s has been on the market.
“We have experienced a continued increase in activity since the spring which has resulted in a great July. This rejuvenated buoyancy is certainly a reason for optimism and clearly yet another step in the right direction,” said Tim Barber. "As the global pre-owned business jet inventory continues to fall, the market is beginning to stabilize. This has been stimulating buyers and vendors to seek out the best deals and actually complete transactions. Whilst this reinforces current reports that pre-owned retail transactions are picking up recent financial market uncertainty may have a negative effect, although it is still too early to tell by how much.”
JetBrokers Europe has an increasingly diverse range of inventory on its books. New listings in its portfolio include an Embraer Legacy S/N 145-0841, Hawker 800XP S/N 258477, Gulfstream III S/N 0404 and Premier 1A s/n RB181. Brendan Lodge, Business Development Director commented, “The addition of the 2004 Embraer Legacy to our listings demonstrates the quality of aircraft that we are now handling. The highly specified, 13-passenger, tan leather interior provides more cabin space and the largest baggage compartment of any business jet in its class (all accessible in-flight). We are confident of adding more mid-size aircraft to our listings enabling us to offer buyers a greater selection of high quality, pre-owned super-midsize jets.”
JetBrokers Europe and JetBrokers Inc share their inventory, which currently stands at nearly 40 aircraft, affording seamless marketing and sales potential on both sides of the pond.
Recent results from JETNET, the aviation data business, confirm that that the first six months of 2011 showed ‘early stage recovery signs’ with double digit growth of 15.3% reported in pre-owned business jet retail transactions. According to JETNET, the second half of 2011 should continue on the path of correction with sustained growth anticipated for 2012 and beyond.
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Customers who purchase an eligible pre-owned Citation from Cessna through July 2 will have an option that provides a guaranteed repurchase or trade-in price.
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