Asia's Growing Preowned Market Needs New Image | Aviation International News

Asia's Growing Preowned Market Needs New Image

The region is showing an appetite for preowned models.

By Chen Chuanren • Asia Correspondent

June 20, 2018

The preowned business jet market is growing in Asia, but to continue that trend perceptions about the industry need to change. Last year, preowned aircraft accounted for 53 percent of all additions in the region, up 4 percent from the year before. In all, there were 160 pre-owned transactions into, out of, and within Asia, according to data presented by Asian Sky Group CEO Jeffrey Lowe last week at the Corporate Jet Investor Asia event in Singapore. He added that many of these jets are finding new homes in North America.

This trend is likely to continue, spurred by the signing of the Implementation Process for Airworthiness by FAA and CAAC in October 2017. This agreement allows preowned aircraft not manufactured or designed in the U.S. to be delivered to China from the U.S. directly, instead of returning to Europe, for example, through EASA.

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