The 24th annual NBAA maintenance management conference was held in New Orleans last week.
A Massachusetts judge has granted a petition for a temporary restraining order preventing JetDirect Aviation Acquisition Company (JDAAC) from completing the purchase of assets of JetDirect Aviation, at least until a preliminary injunction hearing is held tomorrow at 11:30 a.m. EDT.
Directional Capital and Resilience Capital Partners have increased their financial stake in fractional-share operator Flight Options and now own a majority of the company. Members of Flight Options’ management team also participated in the new investment. Directional Capital is headed by Kenn Ricci, chairman of Flight Options and also the company’s founder.
UBS Market Research’s latest snapshot of the business jet market shows continued incremental deterioration in market conditions in February, although at a slower pace than in the November-to-January time frame. The depressed market conditions are being caused by “way too much” pre-owned inventory for sale, falling pricing and tight financing, the firm said.
After a grueling quarter of massive price destruction, a wave of opportunistic buyers has begun to surface and infiltrate the pre-owned jet market. The current economic environment coupled with the public flogging of private jets and their owners has created a sea of discounted jets in all shapes and sizes. There is a growing perception by many that now is the time to buy.
The used business jet market has not yet reached equilibrium. That was the general consensus among industry experts at the National Aircraft Resale Association (NARA) forum in Dallas at the end of February.
In addition to the costs of acquisition, prospective buyers must consider the costs–especially insurance and taxes–they will incur once they own the aircraft. To that end, aircraft management contracts with well thought-out insurance provisions should be integral to the aircraft acquisition process, said Bill Kingsley, an account executive with the Addison, Texas-based brokerage AirSure.
It is the best of times to purchase a business jet…and the worst of times to finance it. That was the message to the 23 attendees at the ninth annual Conklin & de Decker Aircraft Acquisition Planning seminar, held recently in Scottsdale, Ariz.
On Monday, JetDirect Aviation and JDA Acquisition Company (JDAAC) solidified an agreement for JDAAC’s purchase of JetDirect’s assets.
UBS Market Research’s latest snapshot of the business jet market shows continued incremental deterioration in market conditions last month, although at a slower pace than in the November-to-January time frame.