Industry Insights

By Dan Kilkeary, former SVP Sales Americas, Jetcraft

As we reach the end of the first quarter of 2021, we’re seeing the business aviation industry gain increasing momentum, so much so, that our sector is seeking additional inventory to keep up with the number of buyers ready to make offers.

According to recent data published by WingX, the US is witnessing rapid recovery in flight hour activity, with Florida becoming the hub for business jet movements in the United States at 15% growth year-on-year. The recent lifting of Covid-19 travel restrictions by several US states is also expected to play out through rising flight hours and ownership inquiries, particularly from first-time buyers.

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Well, we did it. Together with our clients we navigated our way through a turbulent year for business aviation. We met some significant hurdles, with aircraft sales that all but halted during 2020’s second quarter. Despite the global shutdown in Q2, Jetcraft’s sales of private jets were consistent with previous year deal counts. As CJI London recently debated, the industry is likely to see a ‘vaccine bounce’ emerge in 2021, and, along with well-established Covid-19 testing programs already in place, signals a growing confidence and need to travel. This new year brings a fresh optimism, with vaccines now deploying, and increased market stability as we plot the path towards recovery.

On behalf of everyone at Jetcraft, we would like to thank all our clients, employees, partners, vendors, and friends for their continued support. Now, let’s look ahead to business aviation in 2021.

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This month we are releasing our 5-Year Pre-Owned Business Aviation Market Forecast. With the impact of Covid-19 touching many lives and industries, including our own, forecasting the future has certainly been more challenging against this backdrop. However, it doesn’t mean we shouldn’t attempt to do so.

This year, we are focusing our predictions solely on the pre-owned market, an area often excluded from other industry outlooks and which is a particular strength of ours. Moreover, for the first time, our forecast is enriched by the introduction of trends from our own past transactional data and customer insights.

In our previous forecasts, we did predict a downturn. Although it has taken place sooner than we thought, we were prepared and, as a result, are in a stronger position than 2008, the last big downturn for our industry.

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An upsurge in demand for aircraft as we approach the year’s end isn’t unusual. But the dual influences of Covid-19 and the imminent US election have combined to make this year’s fourth quarter unlike any we’ve experienced before. The pace of business is set to skyrocket between now and year end – and with that comes the potential for closing delays beyond December 31.

Prepare now, purchase later

If you want to close in 2020, you need to start your purchase now as pre-purchase inspection slots are already filling up fast.

Many maintenance providers were forced to make changes during lockdown, resulting in modified or reduced staffing levels. Meanwhile, owners are taking advantage of the downtime to complete due or upcoming maintenance. These factors are creating capacity challenges, leaving fewer pre-buy slots and less time to close on an acquisition.

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With more than 55 years’ experience helping our customers buy and sell their private jets, we regularly talk to new people who are taking the first step into aircraft ownership.

We have many resources on our website, including a Guide to Buying and Selling and a detailed article that walks you through the acquisition process.

The Covid-19 pandemic has brought safer travel into sharp relief in recent months and we’ve received an increasing number of inquiries from first-time buyers who are looking to business aviation as the route to safe, flexible and controlled travel. Here, we answer their most frequently asked questions.

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It has started cautiously, and it’s still carefully controlled. But we’re confident: the business aviation industry will start to return to normal. Even if this winter sees a resurgence of the virus, we are better prepared.  Skies will be busier, borders will start reopening, and FBOs will see a stream of travelers passing through.

Undoubtedly, Covid-19 has changed our priorities. Travelers are rightfully demanding more control of their environment than before, prioritizing personal safety, hygiene and cleanliness. Here are three reasons why the nature of business jet cabin design, usage patterns, and upkeep, make this the healthiest way to fly.

A breath of fresh air

There has always been discussion around air quality when flying and, now more than ever, the perceived risk of spreading airborne viruses in the cabin has brought the use of High Efficiency Particulate Air (HEPA) filters to the fore. This system uses 50/50 fresh air from outside the cabin and recirculated air, which passes through filters. For those aircraft types that don’t have a 100% fresh air system, entirely replenishing the air every few minutes (as found in all Gulfstream models), HEPA filters are the main form of purification.

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Download a PDF version of this guide here.

As a passenger on a business aircraft, you are very much in control of your world and your environment. With Covid-19 bringing cabin air quality into sharp focus, we have developed this guide to show what options are available from each aircraft manufacturer to remove pathogens and bacteria from the air in aircraft cabins. Health and safety are our priority and this guide is designed to provide reassurance of the health benefits afforded by business aviation.

There are many ways to ensure high quality cabin air, and the systems used will largely depend on the aircraft type and what it is used for. Many business jets use 100% fresh air systems, compressing and sterilizing air before it enters the cabin. For systems that recirculate a proportion of the cabin’s air, HEPA (High-Efficiency Particle Assurance) filters are the most used on airlines and are also found in business aircraft. A HEPA filter must capture a minimum of 99.97% of contaminants at 0.3 microns in size. As well as on aircraft, they are largely used in medical facilities and surgical rooms where pure, high-quality air is needed.

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If you want to survive and thrive in turbulent times, you need to be flexible, inventive and tenacious. The business aviation industry is no exception. It requires clever thinking to close major deals during Covid-19.

Bringing buyers and aircraft together safely for viewings during lockdown has been a challenge, but it’s hard for clients to place a deposit on a multi-million-dollar private jet they haven’t seen in person. In some cases, we’ve used high-resolution photos and video to bring the viewing experience to the customer. In others, we’ve flown the aircraft directly to the buyer’s hometown for a viewing.

I’m proud to say that Jetcraft recently facilitated the closing of a US-based Embraer Legacy 450 aircraft in a record-breaking seven days.  This is not typical, though.  Every deal is different, and whatever logistical challenges we face, they can be overcome with a little imagination. A complex European sale of a Dassault Falcon 7X, which closed on April 1, is one such example.

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This year, everything changed. But that hasn’t stopped our global team supporting you at every step, wherever you are. We’re providing you with the expertise you value from Jetcraft. And we’re expanding our offerings to bring you new opportunities. So, when the world can take off again, you’ll be ready.

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