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Sun, Jun 04, 2023

Jetcraft Sees Sunny Skies for Corporate Aviation Sales

"Corporate Buyer Roars Back to Life" Says Forecaster

Jetcraft's 2023 Pre-Owned Business Jet Market Forecast shows that the "return of the corporate buyer has played a key role in driving unprecedented business aviation demand", good news for some eyeing recent news with a wary eye.

The company released its report with all the important work shown, allowing readers to see for themselves just how things are looking after the surprising run-up experienced by AvBiz as a whole since 2020. Jetcraft feels pretty good about where the market is now, citing constant increases in values and activity.

"Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast reveals that continued growth is predicted for the years ahead, despite an inevitable market correction in 2023, setting new annual benchmarks for volume and value. In 2022, transaction values hit a record $16.3B, driven in part by the resurgence of corporate aviation, following a dip during the pandemic."

A driver in rising jet values throughout 2022 was the corporate sector, who accounted for 60% of Jetcraft sales.

“The return of the corporate buyer proves what we’ve always known: the continued importance of face-to-face interactions in the relationship world of business,” says Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft. “Video conferencing technology served a purpose for all of us when the borders were closed, but businesses recognise the value of in-person meetings.”

For the cynics, the news may just be more industry 'copium', (a facetious term, a make-believe element synthesized in naive optimists' pineal gland from "coping" too fervently). Crackdowns in easy lending and increasing interest rates could quickly undo many of these gains when the bills come due. Sure, well-heeled clientele and businesses are happy to procure bizjets to avoid the hassles of commercial 'cattle car' aviation, but will that stand if interest rates rise? Operators like Wheels Up have been pushed into a corner in a shifting market and uncertain future even when things are fairly rosy - how many entities have overextended themselves on easy credit thinking the music won't stop while they're looking for a chair? 

Who knows what the future holds, though. For all the crystal-ball reading in recent years, it's been pretty spotty in terms of actually predicting the future. Jetcraft thinks things are looking fine, thanks to customers now locked into the jet ecosystem.



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