Sales through July 2020 result in jetAVIVA as #1 in Jet Sales, first time buyers react to COVID-19.
August 28, 2020 – Kansas City, Kansas – jetAVIVA, a worldwide leader in turbine aircraft sales and acquisitions, announces industry-leading sales numbers in the first half of 2020 as the #1 seller of business jets as tracked by independent research firm JETNET’s STAR (Statistical Analysis Report) report of the Top 25 Aircraft Sales Companies.
The firm attributed this success to an increase in first time buyers entering the world of business aviation as a result of COVID-19 and the firm’s focus on fuel efficient light to mid-sized business jets and turbo-props.
“We entered March with over 50 jets listed for sale,” said company founder and Chairman, Cyrus Sigari. “As of mid-August our inventory volumes were reduced by half, and we’ve more than doubled our number of active acquisition clients. Out of our current inventory, 15 aircraft are under contract and our global sales team has mandates to purchase an additional 20 aircraft on behalf of clients. We are closely monitoring this increase in buying activity, and the likely resultant effect on pricing.”
The firm noted a significant amount of increased transaction activity in relatively new, technologically advanced light jets with inventory numbers reducing rapidly in select model types. “We’ve seen particular increases in transaction activity in the Phenom 300 and Citation M2 markets, with seven of each of the types having already been transacted or soon to be transacted with definitive purchase or sale mandates by the firm,” said Sigari.
“While buying activity has been brisk, we are still recovering from the influx of inventory that hit the market immediately following the beginning of the COVID-19 crisis.” Sigari expressed that “We are optimistic that the new entrants to business aviation will buoy sales volume despite the looming uncertainty that typically comes with each presidential election and the economic impacts of COVID-19.” Facing the prospect of a changing tax regime in 2021, a majority of jetAVIVA’s acquisition clients expressed a desire to lock in the 2020 economic incentives to purchase business aircraft including 100% bonus depreciation.“