Tuesday, 26 April 2011
It has been reported that even the super rich have been affected by the economic climate as the price of private planes has plummeted in the last two years.
North Carolina based Jetcraft suggest that a Learjet costing around $13m new be bought for around $8m after 12 months of use.
Anne-Bart Tieleman of GA Finance, an Amsterdam business which specialises in financing such purchasing puts this down to one simple factor -
“Basically, there are no buyers. You can buy an almost brand new aircraft for 25-35 per cent less than what you had to pay two or three years ago,” Mr Tieleman said, citing an advert for a 2008 Cessna Citation XLS, an executive jet that cost about $11.7m new and is on sale for $7.7m. “This has never happened before. It’s just unprecedented.”
The even larger jets such as Gulfstream models have seen a decline in deliveries of 57% between 2008 and 2010.
Posted by Tom Warsop at 08:26