More Private Jet Owners Put Their Planes Up For Sale

Image: Wikipeida

Private jet ownership is one of the perks taking a hit due to the slowing economy.

According to The Wall Street Journal’s Wealth Report blog, new September numbers show that private jet owners are putting their planes up for sale, creating more inventory of once hard to find private aircraft.

The story tracks the sales and prices for a popular brand of aircraft: Gulstream’s GIV model. GIVs were tough to find for sale a year ago, now the number of GIV’s for sale has hit a 22 year high.

Private aircraft are also taking longer to sell.What has not decreased are the prices for used aircraft, which remain high. One source in the story says that could change as increasing numbers of aircraft for sale put pressure on sellers to lower prices.

Source: The Wall Street Journal
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Cessna Delivers 100th Citation Mustang

Cessna Aircraft Company recently delivered Citation Mustang unit 100 during a ceremony at the company's manufacturing facility in southeast Kansas. The commemorative Mustang is owned and operated by long-time customer Supap Puranitee, a businessman based in Thailand.

Puranitee put a deposit down on the Mustang on the same day the entry level jet program was unveiled at the 2002 National Business Aviation Association meeting and convention. "After seeing this fantastic looking airplane unveiled, I immediately placed a deposit. That same year I had the opportunity to take delivery of the 1,000th Grand Caravan, so I requested that I receive the 100th Mustang," Supap Puranitee said. "I enjoy a wonderful relationship with Cessna employees, and I consider them to be extended family. Already in 2008, I have received two new Cessna 172s that I am going to use to give private flying lessons."

The first retail Citation Mustang entered service in April 2007, and Cessna delivered 45 Mustangs in 2007. The company expects to deliver a total of 100 Mustangs by the end of 2008, and next year Cessna plans to reach a full production rate of about 150 aircraft per year. Source: Cessna
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