July 19, 2011
Light jet sales and training firm jetAviva reports that the market for light jet sales is heating up, with used light-jet sales leading the way.
While the market for new aircraft in 2011 has largely been driven by demand for large-cabin jets from developing nations, jetAviva says it’s seeing an uptick in light-jet demand coming from relatively established markets.
“Deliveries of new light jets are down the first two quarters compared to last year, but overall sales activity and inquiries continue to increase due to exceptional values in the pre-owned market,” said jetAviva co-founder and President Cyrus Sigari. “While pre-owned inventories are in most cases coming down, pricing has yet to completely firm up or reverse trend toward appreciation. This is creating an environment where prices for newer pre-owned aircraft are driving buyers to enter the market due to a sense that depressed pricing may not last much longer.”
“Many buyers are making step-up purchases, selling their first light jet in search of increased speed, range, and cabin size,” Sigari said. “With the exception of Brazilian interest, most of the demand for light jets is still coming from the U.S. and European markets. Interest from China, India, and other emerging markets has yet to have a noticeable impact on this market segment.”
Connecticut lawmakers have voted to recognize Gustave Whitehead as the first pilot to achieve powered flight. The bill awaits the governor’s signature, and marks the latest round in a newly revived debate.
Waco Classic Aircraft Corp. officially unveiled the first conforming new production Great Lakes 2T-1A-2, an aerobatic biplane.
Brazil’s brand-new Wega arrived in the United States in April. The Wega is an all-composite, Experimental-category airplane built in the Santa Catarina district in Brazil.