The Right Time for a Business Jet?

Although the private jet market is far from the high-flying days of 2008, glimmers of light are beginning to break through the cloudy skies in the form of increased purchases and use.

According to reports on the May UBS business jet survey, overall market conditions for business jets remained stable in May, customer interest is improving and the outlook for the next 12 months is strong.

Other reports indicate that the rising U.S. dollar is expected to shift the general aviation market to a higher number of U.S. buyers, according to the Wichita Eagle, and the inventory of used jets is still high enough that those in the market to buy are likely to find what they need at a price they want.

The Federal Aviation Administration (FAA) is reporting that business-jet use jumped 11.3 percent in the first quarter of 2010 compared with 2009, which is still significantly lower than pre-recession days but an improvement nonetheless, according to JETNET.

Another bright spot is that as the “for sale” inventory has declined — JETNET reports about 2,700 used business jets in the market — the number of pre-owned full sale transactions increased by 45 percent in the first four months of 2010 compared with 2009.

The increase in pre-owned business jet full sales transactions occurs in conjunction with 3.2-percent growth of the U.S Gross Domestic Product (GDP) in the first quarter — the third consecutive quarter that the U.S. GDP has shown growth after four quarters of decreases, according to JETNET.

The FAA also reports that U.S.-based business jet flight operations grew 11.3 percent in the first quarter of this year, compared with the same time in 2009. This means more companies are flying compared with last year, when flight operations declined 30.5 percent in February 2009 compared with February 2008, according to JETNET.

But America isn't the only nation whose business aviation market is showing signs of recovery, reports the Financial Times (FT.com). According to an article by Rohit Jaggi, Eurocontrol, the air-traffic coordinating body for Europe, business aviation traffic increased 11 percent in March compared with the same month in 2009.

What does this mean if you are in the market to purchase an aircraft? It means that chances are, the perfect jet — exactly what your business needs — is available at a price that meets your budget.

Contact L & L International if you are interested in taking advantage of the current business jet market. You can reach our sales specialists today at sales@l-lint.com, call us any time at 877-453-8276 or visit us online.

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L & L International LTD
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