The International Aircraft Dealers Association (IADA) released preowned business aircraft sales data today that shows a strong rebound. According to IADA, its accredited dealers closed 106 deals in April, compared with 53 in the same month last year when the full effects of the Covid-19 pandemic began to be felt.
A strong April followed a first quarter in which IADA members recorded 211 aircraft sales, which the group said marked the return to a pre-pandemic business jet economy. Members also ended the quarter with another 246 aircraft under contract.
Acquisition agreements increased from 27 in April 2020 to 57 last month, while the number of aircraft under contract rose from 60 to 115. The number of deals that fell apart in the month totaled 12 versus 31 last April and deals with lowered prices dropped from 36 to three.
“IADA dealers, who lead the aircraft transaction industry by a wide margin, experienced large increases in the most meaningful categories,” said executive director Wayne Starling. “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’s expectations for more preowned sales for the remainder of the year has prompted its commitment to exhibit at NBAA-BACE 2021 in October.