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longlayover
13th Jul 2020, 05:34
Rumors has it BizJet sales has been higher then normal during the COVID-19 crisis. Does anybody know if there is any truth to this ?
LGW Vulture
13th Jul 2020, 09:31
Rumors has it BizJet sales has been higher then normal during the COVID-19 crisis. Does anybody know if there is any truth to this ?


Sounds a bit of a loaded question but you'll need to explain a little more? Biz jet sales of new and pre-owned aircraft? Or charter and card / share sales?
longlayover
13th Jul 2020, 10:33
Sounds a bit of a loaded question but you'll need to explain a little more? Biz jet sales of new and pre-owned aircraft? Or charter and card / share sales?

Hi there :)

Just a genuine question......
There are many Biz jet pilots concern about their employment, and a rumor going around that sales of new/preowned aircraft are up. It would nice for everybody to know if there is any truth to this rumor.
LGW Vulture
13th Jul 2020, 11:42
I'm afraid that is not the case. Our world is being turned upside down too.

When you see 2 yr old G650s being available for under US$40m then you know there's a fly in the industry's ointment.

Sigh......sorry to be the bearer etc!
Klimax
13th Jul 2020, 12:34
I'm afraid that is not the case. Our world is being turned upside down too.

When you see 2 yr old G650s being available for under US$40m then you know there's a fly in the industry's ointment.

Sigh......sorry to be the bearer etc!

You got a direct link for those two airframes. High numbers on the frame and a 2012 - seems like USD40mil not far fetched, and not an indicator of the industry at the moment.
LGW Vulture
13th Jul 2020, 12:41
You got a direct link for those two airframes. High numbers on the frame and a 2012 - seems like USD40mil not far fetched, and not an indicator of the industry at the moment.

Where did you get 2012 from? Are you sure we're using the same language for a start?

Sign up to Industry databases and you might be better clued up. And I don't mean Bluebook either
LGW Vulture
13th Jul 2020, 12:45
46 G550s on the market. Asking prices where G450s should be in a dire market?

I would like to be proved incorrect so as to feel better about current status but i won't hold my breath.
733driver
13th Jul 2020, 13:16
My guess is there is increased demand at the lower end of the market from people who haven't travelled by private jet or turboprop in the past but who now prefer to travel privately to destinations in Europe.

I can see that long range biz jet prizes would be under some pressure as there are still a lot of restrictions on long haul travel, even privately.
bizjetway
14th Jul 2020, 17:00
At my company, we sell, lease and manage private jets. During COVID-19 we saw transactions slow down, mainly due to logistical reasons and travel restrictions. However, many new people coming into the market both at the low end and high end of the market. Only 3.5% of UHNWIs (people worth over $30M) actually own a private jet.
Airline travel has already got both very annoying and tiring because of COVID-19: The other day a person went to Manchester, UK to get a flight to Palma de Majorca in Spain (a 2.3 hrs flight) and it took them FIVE hours to get from the car park to the gate in manchester and TWO hours to leave the airport in Spain. I can see more people avoiding travel, using conference calls and when they do need to travel, they will fly private.
Private jet
14th Jul 2020, 20:41
Only 3.5% of UHNWIs (people worth over $30M) actually own a private jet.

"Ultra high net worth individuals"? Try $300 million. $30 million is diddly squat. There's an old rule that if the operating cost of the aircraft (including depreciation) is > 5% of NET wealth, then it's really too expensive for you... The "problem" with bizjet aviation today is too many people that can barely afford it think they can do it, and the army of middlemen, salesmen, parasites to supply their "dream".....
EatMyShorts!
15th Jul 2020, 11:17
Well said.

Still, there are still thousands of really rich people in this world, who could easily afford a few private charter flights per year and this would create jobs, lots of jobs.
bizjetway
15th Jul 2020, 18:08
Someone worth $30M that has the need to travel around the US or Europe on short 1.5-3 hr flights can afford a pre-owned Cessna Citation for $1.5M and spend just under $1M a year to operate it. Using a jet a business tool will certainly grow their wealth to the next level. Have you checked Grant Cardone's story?
FlyTCI
16th Jul 2020, 15:16
Someone worth $30M that has the need to travel around the US or Europe on short 1.5-3 hr flights can afford a pre-owned Cessna Citation for $1.5M and spend just under $1M a year to operate it. Using a jet a business tool will certainly grow their wealth to the next level. Have you checked Grant Cardone's story?
You mean the guy with his plane up for sale?

https://www.aircraftdealer.com/dealers/a/avproinc/70824/Gulfstream_G550__5556_-_2.7.19.pdf
Right Hand Thread
21st Jul 2020, 20:28
...... to the next level.

Straight out of 'The Salesman's Book of Wank Words'. Will there be lots of going forward and low-hanging fruit? :hmm:
the boy
23rd Jul 2020, 16:48
You mean the guy with his plane up for sale?

https://www.aircraftdealer.com/dealers/a/avproinc/70824/Gulfstream_G550__5556_-_2.7.19.pdf

Looking at the hours and landings ................he bought the wrong jet for the job :ugh:
FlyTCI
24th Jul 2020, 16:04
Looking at the hours and landings ................he bought the wrong jet for the job :ugh:
My observation is that that is actually quite common for the US based long range airplanes, many of them have an average stage length of about two hours.
McMax
25th Jul 2020, 07:59
My observation is that that is actually quite common for the US based long range airplanes, many of them have an average stage length of about two hours.

not only in the US. The fleet total average sector length for most Gulfstream models is in about that 2 hour range iirc.
Global Aviator
25th Jul 2020, 22:07
What other options do owners that want the large cabin have?

BBJ, ACJ, CL850, Lineage, etc.

Sometimes it’s not always about the range but the size... Hmmm that’s what she said!
maxed-out
26th Jul 2020, 12:35
Global Aviator,

Good that you included the CL850 in that list. Massive cargo hold, basically same size cabin as Global 6000 but at a reduced operating cost. Ok, it doesn’t have the legs of the other wide cabin jets but if you’re only doing 2hour legs on average, then I don’t know why more owners don’t consider them. But hey, I’m biased...

mo