ABACE Convention News

Jetcraft 'Positive' on Preowned Market

 - April 18, 2018, 2:19 AM

“Things are moving in a very positive way,” David Dixon, president of aircraft brokerage Jetcraft Asia, said at ABACE 2018, commenting on the regional market for preowned aircraft. Averse to anything but new aircraft a few years ago, buyers in the region have accepted preowned models, and sales now equal those of new airframes in the Asia-Pacific region, reflecting greater understanding of aircraft and better aftermarket support capabilities in the region, Dixon said.

Dixon, who also serves as AsBAA’s vice chair, established Jetcraft’s foothold in Asia, opening its Hong Kong office in 2012. Then, business aircraft were looked at locally as a way to bring investors to China. “Now, Chinese are going to Africa, the Middle East, South America; they’re outbound investors,” he said. That’s helping drive regional preowned demand.

“Asia is now challenging Europe for second place” in the global preowned purchases, he said, adding, “I’m sure it will become the second biggest market.”