Business aircraft are spending less time for sale than ever before, according to the latest edition of the Pre-Owned Business Jet Market Forecast by Jetcraft.

The report shows that in 2022-2023, aircraft spent an average of 129 days on the market compared to 233 days in 2018-2019, driven by unprecedented post-pandemic demand. Furthermore, the data affirms that the industry is in a much-needed market correction period, with a dip in both volume and value in 2023. However, ongoing transaction volumes are similar to 2019 levels, while values remain higher than the pre-pandemic peak, with an expected 59% increase in total transaction value between 2019 and 2028.

Chad Anderson, Chief Executive Officer, Jetcraft says: “For the first time, we’re including an analysis of market dynamics in the Pre-Owned Business Jet Market Forecast. As our data shows, since 2022 the number of days an aircraft spends on the market has decreased by almost half – due to borders opening and international travel resuming, along with buyers making faster, more emotional purchase decisions due to increased demand. We expect transaction rates will settle at this new level, even with more inventory available, culminating in a total forecast revenue of $15.6B annually by 2028.”

Among the report’s key findings is a continued rise in younger buyers, with 28% of Jetcraft buyers now aged under 45 years old (a 14% increase since 2019), averaging $13M per transaction. The Middle East and Africa boast the greatest proportion of younger buyers, due to the growth of UHNWIs in these regions.

Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft, adds: “Our data has gone from strength to strength since the Market Forecast’s inception in 2015. We were the first to report the rise in buyers under 45 as a contributing factor to the growth of our industry and this demographic continues to be influential. Their market share has almost doubled since 2015, caused by a shift in generational wealth and the continued rise of billionaires in the tech space.

“As Jetcraft evolves, so too does our expertise in analyzing and interpreting the data, allowing us to make increasingly accurate predictions for the years ahead and provide deep analysis of the trends driving our dynamic industry.”

For full graphs and additional insight, download the Pre-Owned Business Jet Market Forecast here.

Provided by Pan-African banking firm Absa Group Limited, the new credit facility will ensure Jetcraft Commercial builds upon its strong track record in facilitating multi-layered, complex transactions with airlines worldwide.

Marc Meloche, Managing Director, Aviation Finance, Jetcraft Commercial, says: “The trust placed in the capabilities of Jetcraft Commercial by our customers has seen our deal volume increase by more than 70% in the past year.

“Establishing new lines of credit gives us additional opportunities to support our customers in their aircraft purchases and build on our recent successes. Absa’s commitment proves Jetcraft Commercial’s standing as a business, giving airlines total confidence in our ability to deliver and meet their needs.”

Morne Visagie, Senior Investment Banker at Absa Corporate and Investment Banking, says: “Jetcraft Commercial has an excellent track record of closing deals between multiple parties and we’re proud to support the business in reaching its next phase of growth, ensuring it has the financing solutions to seize opportunities quickly and expand into new and developing markets.”

Presented during AsBAA’s Icons of Aviation 2023 gala dinner on Saturday 11th November, Jetcraft Asia’s president David Dixon accepted the award on behalf of everyone in the company, which Jetcraft first won in 2015.

Commenting on the award afterwards David Dixon stressed that: “The whole team is so pleased the Icons of Aviation awards are back. It’s always a fantastic evening and a pleasure to connect with our friends in business aviation, especially in Asia. Any win is an enormous achievement and to be named Best Aircraft Broker for the sixth time is incredibly humbling, especially since this award is voted for by our peers.

“We have an outstanding team here at Jetcraft Asia and with the region continuing to bounce back we are committed to setting standards that shape the industry, delivering aircraft sales, acquisitions, and trading at the Speed of Life. Thank you all.”

“We are proud to work with Jetcraft Commercial on a global leasing solution and welcome them to the DHC community as a launch customer for our newest aircraft, the DHC-6 Twin Otter Classic 300-G,” said Brian Chafe, Chief Executive Officer, De Havilland Canada. “With the same rugged airframe, the lighter weight DHC-6 Twin Otter Classic 300-G will deliver increased payload range and decreased operating costs for our customers. De Havilland Canada is once again driving the utility transport aircraft market forward.”

“We believe that the DHC-6 Twin Otter Classic 300-G represents the best in-class commuter aircraft solution,” said Raphael Haddad, President of Jetcraft Commercial. “This versatility enables the aircraft to operate into areas where regional aircraft cannot go and provide air connectivity there.

“Our boots-on-the-ground structure enables us to take on numerous aircraft with confidence because we know where demand lives, and where best to place them,” said Haddad. “We are thrilled to be working alongside De Havilland Canada as it brings this new, innovative product to market.”

DHC-6 Twin Otter Classic 300-G is the fifth generation of the Twin Otter aircraft, joining the current Series 400. All DHC-6 Twin Otters carry passengers, transport VIPs, move cargo, conduct medivac operations, and perform special missions in the world’s most unforgiving environments. When mounted on amphibious floats, these aircraft move seamlessly between paved surfaces and water-landing areas.

For more details about the DHC-6 Twin Otter Classic 300-G, including images, video, and brochure, please visit: https://dehavilland.events/TwinOtterClassic300G

Uzbekistan Airports will place the aircraft with its recently launched community airline, Silk Avia, which will deliver a passenger route network from the capital, Tashkent, to regions (hub-to-point) as well as serving domestic flights between regions (point-to-point).

Raphael Haddad, President, Jetcraft Commercial, says: “Regional turboprop aircraft types are well-suited to meet the needs of Uzbekistan Airports and SilkAvia due to their lighter structures, optimized speed and engines designed for short segments. These factors will ensure SilkAvia meets the growing demand for domestic travel and support Uzbekistan’s booming tourism sector. We have deep expertise in swiftly and efficiently structuring and closing complex transactions of numerous aircraft between multiple parties at Jetcraft Commercial, ensuring success for all involved.”

Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways Public Company Limited says: “The sale of our turboprop aircraft to Jetcraft Commercial has given these high-quality airplanes a new purpose to allow Uzbekistan Airports to strategically plan for a busy summer travel period. As well as being able to streamline our own fleet, the aircraft will be used to develop SilkAvia as an up-and-coming airline and provide a positive passenger experience.”

Rano Dzhuraeva, Chairman of the Board of Uzbekistan Airports, adds: “We made an evaluation on which aircraft would provide essential cross-country links and we know that regional turboprops, like the ATR72-600, are the right fit for us.  By expanding our fleet, we’re ensuring we can meet the rising demand for domestic and regional travel. These aircraft will open up new point-to-point opportunities and support the growth in the country and its importance as a connecting hub in Central Asia.”

Ukbekistan Airports will take delivery of the third aircraft in the latter half of April 2023.

Jetcraft, the global leader in business aircraft sales, acquisitions and trading, has acquired Corporate Fleet Services (CFS Jets), a prominent business aviation firm specializing in the turboprop, light and midsize jet markets.

Peter Antonenko, President, Jetcraft, says: “For more than 60 years, Jetcraft has been setting the standard in business aircraft transactions, placing a sharp focus on super-midsize, large, and ultra long range jets. With the addition of CFS Jets, our product expertise is the most diverse in the industry, surpassing that of all other brokers and manufacturers, while bringing customers nearly a century of experience, more than 100 dedicated global advisors and the largest number of exclusive jet listings.”

Now “powered by Jetcraft”, CFS Jets is offering its client base greater access to the super-midsize and large jet categories. Both companies are continuing to operate individually, each benefiting from their respective capabilities, including being backed by Jetcraft’s industry leading data to support transactions.

David Monacell, Partner, CFS Jets, adds: “Since 1984, CFS Jets has proven itself as a trusted private jet and turboprop broker. Powered by Jetcraft, we are now giving our customers access to the most robust market intelligence and widest range of aircraft in the industry.”

Antonenko concludes: “This strategic alliance between Jetcraft and CFS Jets represents a significant milestone for both our companies, and our clients, who can now benefit from a combined experience of more than 800 transactions in the last five years alone. Together, we look forward to serving the growing worldwide demand for turboprops and business jets of all sizes.”

The Falcon 2000S is a twin-engine French-made Business jet and is a slightly smaller development on the Falcon 900 trijet, with United States transcontinental coast to coast market range. The Falcon 2000S jet comes with fault monitoring and digital diagnostic systems, which help the mechanic in troubleshooting and repair work.

As of December 2022, 28% of the Falcon 2000S were purchased pre-owned by their current owners, the other 72% new. 2.1% are for sale with all of those (100%) under an exclusive broker agreement. When for sale the average time on the market is 120 days.

Brief History

In 1995, the Falcon 2000, a super mid-size business jet, entered service and is the first private jet that Dassault designed without a physical model. Its design was completely digital, created by Computer Aided Three-dimensional Interactive Application (CATIA) software. This software helped improve aerodynamic structure and simplified the airplane’s systems.

Falcon 2000S derivative was launched by Dassault in May 2011 at EBACE and received European Aviation Safety Agency (EASA) certification in March 2013 and Federal Aviation Administration (FAA) certification in April 2013.

Worldwide Appeal

There are 47 Falcon 2000S business jets in operation worldwide, all are wholly owned. 15% are currently leased. North America has the largest percentage or Falcon 2000S aircraft (60%), followed by Europe (23%), and Asia (11%).

As Aircraft Sales Director, Hooper will lead Jetcraft’s business development in the US West Coast territories, including Northern California, Oregon, Washington and Idaho. Prior to joining Jetcraft, Hooper was Director of Aircraft Sales and Acquisitions at Executive Aircraft Services (EAS), working with corporate clients and aircraft worldwide.

Based in Brazil, Vidal joins Jetcraft as Sales Representative and will oversee the South American territories, including Chile, Argentina, Uruguay, Brazil, Bolivia and Paraguay.  Vidal has held positions at leading OEMs, including an eight-year tenure at Bombardier Aerospace where she formulated business strategies to drive market share in the Brazilian executive aviation market.

Dan Kilkeary, SVP Sales, Americas at Jetcraft, says: “With more than 40 years combined experience in business aviation, Gerald and Laurence bring extensive local and industry knowledge to Jetcraft and will ensure we continue to exceed client expectations across the Americas.

“Our latest Market Forecast highlights the importance of our presence in these regions, with North America continuing to lead demand for pre-owned business jets across the globe, growing from 53% market share in 2010 to 73% in 2021 in terms of aircraft value. South America business jet activity is also soaring, with business aviation flights up 23% compared to 2022, according to data from WingX.”

Gerald Hooper, Aircraft Sales Director at Jetcraft, says: “This is an exciting time to join Jetcraft as business aviation continues to grow across North America. Jetcraft’s priority is bringing creative global solutions to the West Coast and I’m eager to begin closing transactions for our clients.”

Laurence Vidal, Sales Representative at Jetcraft, adds: “I’m ready to support Jetcraft in executing complex aircraft sales, acquisitions and trades, while providing a personal, inclusive service and fostering long-term relationships across South America.”

Hooper and Vidal’s appointments follow two senior executive appointments in 2022, upping Jetcraft’s headcount to more than 80.

Pictured: Newly appointed senior sales executives Laurence Vidal (left) and Gerald Hooper (right)

Raphael Haddad, President, Jetcraft Commercial, says: “Scott is a first-rate aviation professional and we’re looking forward to benefitting from his extensive experience, which includes driving commercial performance through the management of large, international teams at the highest level. We’re confident that Scott’s appointment will further underline Jetcraft Commercial’s status as the partner of choice when it comes to managing aircraft assets.”

Prior to joining Jetcraft Commercial, Symington was Head of Commercial at Elix Aviation, where he was responsible for a global team managing a portfolio of more than 80 aircraft, following a variety of senior level positions including Business Development Director at Integrated Nacelle Services and Aircraft Leasing, and Head of Procurement and Logistics at Olympic Air and Olympic Engineering. In his current role, Symington will support asset owners, financiers, lenders, investors and airlines when managing, transitioning and remarketing their aircraft assets.

Scott Symington, Vice President, Asset Management, Jetcraft Commercial, adds: “Jetcraft Commercial has an exceptional reputation as an agile partner to the world’s top corporations. I’m eager to draw on my international experience to further strengthen the value the company offers airlines and asset owners when managing lease structures and aircraft assets.”