The worldwide supply of used aircraft is revisiting a level not seen in more than five years, despite a growing business jet population that saw nearly 4,000 enter service during that period. The U.S. claimed nearly half of those new aircraft deliveries, followed by Europe and Asia, South America and Africa and Australia. One might speculate that if a buyer is purchasing a business jet in a down economy there must be an excellent reason for the investment, and perhaps this is why only 200 of those delivered during this period have made their way onto the used market. It should also be noted that of this group, two thirds are 2008 models and likely are just being replaced by their current owners.

So today, when you look at the fewer than 2,500 used aircraft for sale, you have to scrutinize the herd closely. Location and age are two big factors, yet location is less of a factor for large-cabin aircraft, especially those in short supply. Age continues to be the figurative death knell for aircraft, perhaps one reason why nearly 1,000 older aircraft make up the current supply on the used market, some of them seemingly bruised by lenders’ reluctance to offer financing or by support programs that have been discontinued. The mods that used to breathe new life into aging aircraft are still viable, but these days some mods can cost such a large percentage of the aircraft’s worth that their value is questionable. When an owner disposes of his aging aircraft, the buyer could well be a parts company, since in some cases the parts can be worth more than the whole. I’m not talking about JetStars and Sabre 80s here; at least one GIV and one Falcon 2000 became organ donors in the last year or so. Suffice it to say that 40 is not the new 30 when it comes to aircraft.