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August 27, 2021

Private Jet Prices On The Rise

Scarcity Principle Breathes New Life Into Business Jet Sales

With an already high price tag, even a small percent increase in price for a business jet can raise the purchase price by millions, says Analyst Brian Foley. Worldwide business jets hit a peak in sales in 2008 with over 1,300 units delivered, and following the Great Recession there has only been half that amount delivered for the past twelve years. Following COVID-19, deliveries are at their lowest level since 2004. 2020 marked the year for blowout sales in the preowned market which has continued into 2021. With demand soaring, inventory is shrinking to about one third of it’s typical levels, leaving buyers with the only option to buy new.

Global VP Of Coca-Cola Joins The Team

NBAA names Sean Lee, global VP of The Coca-Cola Company, to the association’s Board of Directors. Ed Bolen, NBAA President is happy to welcome him to the organization: “Sean is a leader in aviation and business – his perspectives will be a most welcome addition to NBAA, and we are pleased to have him join the board,” Bolen said. Lee started flying with the US Air Force as an officer, then progressing in rank to major, before being honorably discharged after ten years of service after flying in more than 40 combat sorties. After his military service, he worked in multiple positions inside of MassMutual Financial Group and Hewlett Packard.