While customers in Asia have generally preferred new instead of pre-owned business jets, aircraft sales broker Jetcraft believes this tide could soon change. “Few would dispute that Asia is one of the hottest markets for sales of new long-range/large business aircraft,” said Jetcraft president Chad Anderson.
In 2011, about 20 percent of the business jets sold by Jetcraft were new, with most of these going to clients in China, Singapore, Malaysia and Indonesia. Anderson believes that new aircraft sales will remain an important part going forward, but “we are also looking ahead to…the pre-owned market that will inevitably emerge, particularly in China.”
Company co-owner and chairman Jahid Fazal-Karim said he anticipates “a replacement/upgrade cycle within the next three to five years” in Asia. “The inevitable consequence of this cycle will be an inventory of locally operated pre-owned business aircraft,” particularly long-range/large-cabin models, he noted.
“We believe that as this inventory reaches the market, it will present attractive opportunities for our clients–not only to purchase pre-owned aircraft within or from Asia, but also to sell upgrades.” Because of the opportunities it sees in the region, Jetcraft said it will soon make “a major announcement about our presence in Asia.”