Thinking of getting a new or used plane? Jet market in a free fall!

[ScottM]

http://www.nytimes.com/2008/12/25/business/25jets.html?_r=2&hp

“Our inventory is up dramatically, and demand is way down,” said Josh Messinger, of J. Messinger Corporate Jet Sales, a jet broker. “The decline is particularly pronounced for those who bought more recently because prices had soared so much.”

Wonder if I can trade in the Cherokee for a nice slightly used Cessna jet and a "couple" of dollars

 

[Dave Siciliano]

Yes, sigh. A lot of folks were bragging about how corporate jets wouldn't be affected by the downturn. It was just a matter of time and the severity of the downturn. Seems to happen every significant cycle. There are always some that don't think it will happen.

Look at the turbine listings in TAP. Not pretty.

Best,

Dave

 

[wsuffa]

All those car makers dumping their G-V's and C-X.

 

[john smith]

http://www.nytimes.com/2008/12/25/business/25jets.html?_r=2&hp

Buying a used one has always been a bargin.
The costs of flying and maintaining one continues to rise.

 

[wabower]

I'm a buyers' rep for GA turboprops and jets. Last summer a cash buyer was trying hard to acquire a 2000-2001 CJ1 for ~3.1, and we made a number of offers on his behalf. Best price we could find was ~3.250. We had the equivalent airplane under contract last week for 2.5 and he was afraid to pull the trigger.

Like other industries, lack of financing is having a big impact. Both Beech and Cessna finance arms have advised their customers, many of whom are stocking dealers, that their floor plan lines are still in place but cannot be used until further notice. As a result, some of the airplanes that would normally find their way into dealer inventories are available to retail buyers. Even so, not many trades are closing, due to all the problems that always cause low volume in down markets.

http://www.nytimes.com/2008/12/25/business/25jets.html?_r=2&hp



Wonder if I can trade in the Cherokee for a nice slightly used Cessna jet and a "couple" of dollars

 

[PittsDriver]

This whole industry fell off a cliff in August this year. The remarketers that are really hurting are the one's that inventory planes. A buddy of mine recently told me that it wasn't the carrying costs, it was the plummeting prices that were killing them. He got stuck with a G-iV in inventory and sold it for $7M less than they had in it. He was just glad the market catastrophe didn't happen in March when he had 7 birds in inventory. I'm told we're at historic lows for a Lear 45 now at something like $4M.

 

[John Baker]

We are on the teetering edge of a deflation, people are holding off on purchasing many things because they are thinking they will become cheaper. Should this continue, the cost of maintaining a jet will also plummet, along with most everything else.

It has always amazed me the there are so many people who could actually afford jets in the first place.

John

 

[skyflyer8]

The Cessna 150 Commuter might live up to its name

 

[Anthony]

I've always wanted a Fouga Magister. Maybe now's the time.