As used aircraft values got pummeled over the last few quarters, it seemed that the buyers had all but disappeared. They hadn’t. Now that the inventory of most model types is at unprecedented highs and prices are at unprecedented lows, buyers are reemerging in more noticeable numbers and scoring big time on CJs to G550s, often executing a trade some 30- to 50-percent below the prices accepted at this time last year.
XOJet launched a national network of “fare on-demand” rates for aircraft charter service starting at $12,000 on more than 15,000 dedicated routes. According to XOJet, its new fixed-price program eliminates the need for buyers to compare complicated quotes or negotiate with multiple providers. XOJet operates a fleet of Citation Xs and earlier this year launched fixed-price coast-to-coast charter service.
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.
Bombardier Flexjet on February 3 launched a round-trip pricing program that reduces the cost of one- or two-day round trips for owners committed to at least 100 flight hours per year. The program gives owners a 15-percent discount for each hour of a qualifying round trip. Round-trip pricing can be used on any day of the year, even on peak days, and there is no minimum time requirement on use of the aircraft.
little over a year ago, business aviation caterers were feeling the pressure as the wholesale price of consumables rose and the price of gas began to soar. Today, that pressure has become a clear squeeze as the global economy struggles.
According to Paula Kraft, founder and co-owner of Tastefully Yours in Atlanta, caterers currently fall into two groups: “Some will tell you things are slow. The others will lie.”
Last year demand for pre-owned business jets and turboprops remained strong. High oil prices and financial turmoil, however, have applied the brakes and inventories are reaching new highs. Buyers are waiting for the deals to come to them, leaving airplanes languishing on the market longer and sellers accepting less just to get out of the market.
Phillips 66 Aviation has launched a reward program for buyers of Phillips 66 fuel, with an added bonus of double rewards when buyers use their Phillips 66 Aviation credit card. The new WingPoints program is flexible in that rewards are in the form of debit or gift cards usable at dozens of retailers, and the rewards can be given to anyone in the fuel-buying company.
If dealing with the price of fuel consumes more of your time than any other facet of running your department, Everest Aviation Resources has a solution. “We’re a fuel management company,” Noel Donald, president and CEO of the Baytown, Texas company, told AIN.
Avinode (Booth No. 3117), the business- to-business platform for online buying and selling of charter flights, was conceived barely a decade ago by three students as part of a joint thesis paper for the Chalmers University of Technology in Gothenberg, Sweden. As a business venture, it was modified and launched in 2001 with European charter operators as its primary market.
If dealing with the price of fuel consumes more of your time than any other facet of running your flight department, Everest Aviation Resources has a solution. “We’re a fuel management company,” Noel Donald, president and CEO of the Baytown, Texas company, told NBAA Convention News.