Jetbrokers Europe Reports Renewed Optimism

Despite an ongoing global economic downturn, the Farnborough-based European arm of JetBrokers Inc, says it remains optimistic about the pre-owned business jet market. The company reported its best month on record in July in terms of pre-owned aircraft sales activity and strong months in August and September for new listings of pre-owned aircraft. 

“Buyers are ever more demanding and taking an aggressive line much as they have over the past couple of years, but over the last six months we have experienced a sustained steady increase in activity with sales enquiries and new listings. Pre-owned aircraft continue to remain a sensible proposition for savvy buyers looking for a deal,” said Tim Barber, Managing Director of JetBrokers Europe.

Significantly, there has been gradual improvement and increased market interest in Europe, especially in mid-size sector where the company has been growing its inventory over the past 12 months. JetBrokers Europe and JetBrokers Inc currently have in excess of 40 aircraft listed, including jets, helicopters, and turboprops. Brendan Lodge, Business Development Director commented, “We will be adding more midsize aircraft to our listings in the coming weeks, enabling us to offer buyers a greater selection of high quality, pre-owned super-midsize jets.”

Though far from perfect, the pre-owned market continues to show improvement globally. "We have become somewhat acclimatised to the depressed conditions but we continue to be busy generating interest in aviation transactions even while the market is still tough," Barber said. "JetBrokers Europe started trading in 2009 and despite the difficult economic climate since, we have continued to grow as a company. The market has been slowly improving in 2011 providing positive signs for business aircraft owners. Importantly, financing is looking a little easier to acquire and some banks are re-adjusting loan to value covenants resulting in aircraft coming to market, although deals are generally taking a little longer to complete than usual.”

Recent results from JETNET confirmed that in the first eight months of 2011, pre-owned business jet sale transactions were up 11.4% with for sale inventories continuing to slowly decline and average days on the market beginning to reduce from very high levels.

FMI: www.jetbrokerseurope.com