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Dan Jennings quoted in EVA Magazine - Summer 2017

EVA Magazine - Summer 2017

(Click to Download Summer 2017 Issue in PDF Format)

Daniel Jennings, president of The Private Jet Company in Palm Beach, Florida, an area where Trump often hangs out, said demand for selected aircraft 2017. “We’re very busy with calls from prospective private jet buyers, particularly in the US market. If this trend continues, I believe we’ll see the market approach a balance between supply and demand for  “There’s still a sense out there that the market is in a slump,” Jennings admitted, “but I believe we’re seeing the best indication yet that the slump may soon be over. With fewer aircraft available, we’re also seeing the ones with the best pedigrees – and newest interiors – being sold fast.”

Dan Jennings TPJC - CEO

Chad Anderson, president of Jetcraft, added, “The resale market is healthier than it’s been in a long time. Yes, values are depressed, but there’s still an adequate level of buyers to exchange aircraft with and, worldwide, sales are up.” Last year was Jetcraft’s strongest in its 55-year history.
Falling Prices or Rising?

AMSTAT stated that average asking price trends ‘continue to be a mixed bag’. Heavy jets have ticked up since mid-2016, but are only back to the January 2017 level of $15 million.

Light jet ask prices are up slightly to $1.66 million, but medium jets are down almost 10% to $3.23 million.  “The market is heavily polluted with old aircraft. The minute you go to 25 or 30 years old, everything seems to be on the market,” said Barber. “But the question is, are they really on the market, or is somebody just sticking them out there and praying?”

For example, “G450 inventory has risen and prices have fallen horribly over the past year. One broker was talking about prices increasing 15% on G450s. I’m less convinced; I’ve not seen that.”

Jennings recommended that buyers take advantage of current prices before they go even higher. “In 90 days, you’re going to see a tightening market. Someone purchasing a private jet six months from now will almost certainly pay a higher price than they would today, and quite possibly for a less-desirable aircraft.”

EVA Summer 2017 Cover
 
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