By: Michael O’Keeffe, Sr. Vice President Aircraft Sales & Management
Each day I’m reminded of the dynamic nature of the pre-owned turbine aircraft market. Banyan Air Service, along with many aircraft dealers throughout the world has seen wild fluctuations within in the various segments of the market. We’ll see a month where there’s tremendous sales activity followed by a month where all sales activity seems to stop for no obvious reason. Historically these fluctuations had a longer frequency but now it’s every month the cycle changes.
There was a time when the pre-owned turbine aircraft market closely followed the stock market. If the market was trending-up, the sales of aircraft trended-up and vice versa. While we’ve continued to see volatility in the stock market, the trend has been an overall improvement. This holds true with aircraft but only to a certain degree. About the time we start feeling optimistic about a recovery of the aircraft market, some news or world event brings the momentum to a grinding halt. Today, there are fewer quality, low time aircraft available than 1-year ago; that is a positive trend. Prices however have not followed suit. The demand seems to be model specific though. There are a small handful of aircraft models that are highly desirable right now that last year’s price tag simply won’t buy. Maybe this is a function of the small quantity being advertised for sale?
Within every segment of the turbine market from turboprop to light, mid and heavy jet, there are many great aircraft available for sale; some even have great prices! The nicest aircraft within each segment are selling and they’re selling quickly and commanding top dollar. This is encouraging if you’re a seller and discouraging if you’re a buyer.
View a list of the current aircraft inventory to see what is available at Banyan Air Service.