Pre-owned business jet dealers accredited by the International Aircraft Dealers Association (IADA) closed 106 deals in April 2021, double the number (53) made in April 2020.
Encouraged by the robust outlook for more pre-owned sales for the remainder of the year, IADA has made an early commitment to have an exhibit supporting its members at the 2021 NBAA Business Aviation Convention & Exhibition (NBAA-BACE). The event will be held on 12-14 October in Las Vegas, Nevada.
IADA dealers’ April 2021 sales performance came on the heels of a first quarter where members registered 211 aircraft sales, which IADA said marked a return to a pre-pandemic business jet economy. The group closed the quarter with another 246 aircraft under contract.
“IADA dealers, who lead the aircraft transaction industry by a wide margin, experienced large increases in the most meaningful categories,” said Wayne Starling, executive director at IADA. “Transaction closings doubled, as did acquisition agreements, and our group had more aircraft under contract, with fewer lowered prices or deals that fell apart for one reason or another.”
IADA began tracking preowned sales metrics for business aircraft in April 2020 on a monthly basis as a result of the volatile market conditions caused by the pandemic.
Comparing April 2021 and April 2020, IADA dealers had a much better month in 2021. Besides the rise in the number of closed deals from 53 to 106, acquisition agreements grew from 27 to 57, and aircraft under contract increased from 60 to 115. The number of deals that fell apart fell from 31 to 12, while deals with lowered prices dropped from 36 to three.