IADA Notes March Surge in Bizav Aircraft Transactions

 - March 23, 2020, 10:17 AM

This story is part of AIN's continuing coverage of the impact of the coronavirus on aviation.

Despite the effects of the rapidly growing Covid-19 pandemic on business aviation, International Aircraft Dealers Association accredited-dealers have assisted in the purchase or sale of 54 business aircraft and have another 120 under contract in a 19-day period this month, the organization announced today. “Clearly there is a strong push to make deals in advance of the challenging uncertainties that are ahead of us all,” said IADA executive director Wayne Starling. “But IADA-accredited dealers continue to briskly lead the previously owned aircraft industry with many transactions during what was previously forecast to be a slow sales month.”

With growing flight restrictions and stay-at-home orders in the offing, the pace of transactions is highly likely to slow as approvals and regulatory obligations take longer to achieve, Starling added. But economic effects of the pandemic could lead to further changes in the market for buyers and sellers of preowned business aircraft, he noted.

Aircraft bought and sold with the assistance of IADA dealers during the period spanned all manner of business jet types, including a Cessna Citation CJ and a Gulfstream G650 on the business jet side and Pilatus PC-12s and Beechcraft King Airs in the turboprop segment.