NARA Meeting Sounds Upbeat Notes for Bizjet Sales

 - April 28, 2011, 7:55 AM

Reports from last month’s National Aircraft Resale Association’s spring meeting in Naples, Fla., inspire continued optimism about the business aviation industry’s recovery. “There’s certainly more movement, and it’s much more positive than what we saw a year ago,” said Allen Qualey, president of the specialty finance group at 1st Source Bank. He said the mood at the well attended meeting was upbeat, though many aircraft dealers are still showing some reluctance to purchase pre-owned inventory and instead prefer to act in a brokering capacity. On the finance side, Qualey has noted additional positive indicators. This includes new business and loan payoffs, the latter meaning “somebody has sold his airplane, which means he got the price he wanted or close enough to let it go.”