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

Used small plane sales are taking off

The Wichita Eagle reports that small aircraft sales are rising, thanks to a strong economy and growing demand for planes. 2006 was the fifth year in a row that used small plane sales were up.

The demand for new planes is actually helping used aircraft sales. Orders for new planes take time to fill. Customers are buying used planes rather than wait for an order.

The hassle of increased security at airports is another factor. Small planes give businesses an option to fly with more flexible schedules and with fewer delays.

Have you bought a used small plane lately? What factors made you decide in the favor of buying a used plane instead of new? Tell us your story and post a comment below.

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