Brooke Brown
VP of Aircraft Sales & Acquisitions, Elevate Jet
As the halfway point of 2023 nears, we are confident that now is still a good time to buy or sell an aircraft.
In Q1 of 2023, aircraft listings grew, reflecting the trend that began in the second half of 2022. Yet, despite an impressive 38 percent year-over-year inventory increase in Q1 2023, listings remain 10 percent below Q1 2019 levels, according to Global Jet Capital. One reason inventory has seemed to grow so much is that many aircraft sales in 2021 and the first half of 2022 involved unpublished aircraft. Now that aircraft sellers are beginning to publicly list their planes again, we’re seeing more statistical growth in the marketplace.
As new OEM deliveries increase, listings may continue to rise throughout 2023 as owners seek to offload their current aircraft. This new inventory is still of fairly recent vintage, presenting some interesting opportunities for buyers.
If you are thinking of selling, we recommend listing aircraft soon to avoid potential headwinds from slowing economies. Buyers still have a healthy bonus depreciation of 80% in 2023 in North America. This month we closed on a mid-size Hawker and have a G200 under contract. The G200 actually was not publicly listed; we found a buyer through our own network prior to bringing it to market. You might wonder, was a pre-purchase inspection completed on the Hawker and is one being done on the G200? Yes. While listings have increased the market no longer solely favors the seller thus the days of no pre-buy inspections have passed, and our team feels that is an indication of a more rational market.
The fact that we can obtain offers on an aircraft without listing it is a sign of our robust network and Elevate Aviation Group’s trusted relationships. EAG is more than just aircraft management and charter; we are able to maximize the value of your asset, whether buying or selling it. Our team is ready to support any part of the journey of aircraft ownership. Are you ready to Elevate?
