Eastern European Market for Used Private Aircraft Remains Strong
Colibri Aircraft reports that the Central and Eastern European market for pre-owned aircraft was stable and is showing signs of year to year growth in 2014. Thirty-four transactions were recorded. Fourteen aircraft were bought from countries outside the region, twelve were sold outside of the region, and eight remained within. Last year seven new private jets were delivered to the Czech Republic, Poland, Moldavia, and Romania. Five of them were Embraer: two Legacy 650, two Phenom 300 and one Phenom 100. The other two were a Bombardier Challenger 350 and a Dassault Falcon 2000S.
Compared to the boom year 2007 when sixteen used aircraft transactions were recorded, the 2014 figures represent a significant increase. However, last year’s number of new aircraft deliveries is much lower than 2007, when thirteen new aircraft were delivered.
“The CEE aviation sectors were quite robust before the 2008 financial crisis, but this was the result of extraordinary growth and geopolitical change after the Soviet era when there was basically zero private aviation in the area,” explains Marian Jancarik, the Senior Aircraft Broker and Asset Advisor at the Colibri Aircraft’s Central and Eastern European office in Bratislava, Slovakia. “Such a sudden economic upswing is unlikely to happen again, but the Eastern European market is now solid with moderate yet steady growth.”
Asked about the current status of the prices of new and used planes, Jancarik answers: “New aircraft are still sold with incentives such as discounts and maintenance packages. This has a strong influence on resale value which has resulted in almost continuous falling prices of used aircraft since 2008.” Marian Jancarik looks back at more than ten years of direct experience in various aviation sectors which allow him to provide solid consultation to owners and financial institutions regarding aircraft sales and aviation markets.
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