Hangar8: Paint Respray Lifts Pre-owned Aircraft Values

 - September 11, 2014, 2:57 PM

Business aircraft management and charter company Hangar8 Aviation has launched a new repaint facility at its headquarters at London Oxford Airport to help sellers refresh their aircraft’s paint to make it more attractive to buyers. According to Hangar8, 16.5 percent of the 381 private jets in the UK are currently up for sale, making it a buyer’s market.

Thus, Hangar8 is advising owners looking to sell their aircraft that a paint respray could boost the chances of finding a buyer while also hoisting the selling price higher. In a buyer’s market, “owners need to find ways of making their aircraft more attractive,” Hangar8 CEO Dustin Dryden said. “The cost of a respray can be around 1 percent of the value of an aircraft, but it could increase its value by up to 10 percent.”

Hangar8’s analysis reveals that of the major European countries, Italy has the highest percentage of its private jet fleet up for sale at 16.7 percent, followed by the UK (16.5 percent) and Switzerland (15.3 percent).