Jetcraft Sees Trend of New Bizjets Hitting Used Market Sooner

 - February 18, 2021, 10:27 AM
The sale of the first preowned Embraer Praetor 600 "builds positive momentum" for Jetcraft's 2021, the business jet broker said. (Photo: Jetcraft)

Jetcraft has completed what it said is the first transaction of a preowned Embraer Praetor 600—a deal that also signifies a noteworthy change in which new business jet types are coming to the used market more quickly, according to company president Chad Anderson. The milestone deal follows Jetcraft’s previous brokerage of new-to-market business aircraft, including the first transaction of a preowned Gulfstream G500 and one of the first preowned sales of a Bombardier Global 7500 shortly after type certification.

“As we continue to see fresh innovations from OEMs, we’re witnessing a step-change in ownership patterns,” Anderson said. “Some buyers are seeking to quickly upgrade their aircraft to the latest model, meaning a preowned jet can now be available a year or two after its original certification.”

The super-midsize Praetor 600 received type approval from Brazil’s ANAC, the FAA, and EASA in spring 2019. Kicking off 2021 with the sale of the first preowned Praetor 600 “builds upon positive momentum” for Jetcraft for the remainder of the year, the broker noted in its announcement this week. Jetcraft said 2020 transactions were comparable to previous years despite “an essential halt in aircraft sales” in the second quarter of 2020.

“We’re seeing a pent-up demand for travel, with a healthy number of sale acquisition and trade-in inquiries already this year, buoyed by growing market confidence,” Anderson added. “With business aviation utilization currently the closest it’s been to pre-Covid-19 levels, we’re equally enthused about the prospect of new entrants to our industry, who are beginning their path to aircraft ownership by first experiencing air charter, jet card, or fractional solutions.”