Billionaire, Global, Luxury, News, UHNW

Corporate Jets On a Decline

Corporate Jets On a Decline

With many emerging markets declining, oil companies trimming costs and commodities prices going down, Business-jet sales tumbled 16% to $3.53 billion in the first quarter, the biggest drop in almost five years, according to the General Aviation Manufacturers Association. Large-cabin jets led the decline.

“Business-jet sales tumbled 16% to $3.53 billion in the first quarter, the biggest drop in almost five years.”

~ General Aviation Manufacturers Association

The slump extends even to the Gulfstream G650 — just two years ago an aircraft so coveted by well-heeled buyers that some would pay $10 million above list for a used jet rather than wait four years for a new model. Now there are 19 G650s for sale, about 11 percent of the global fleet in operation. One 2013 plane that first was posted for sale in June at $68 million has had its asking price cut twice, to $58.8 million.

Related Reports: Bloomberg,

 

About Gulfstream

Gulfstream has led the evolution of business and personal aviation since the 1958 debut of the Gulfstream I, the world’s first purpose-built business aircraft. Today, Gulfstream produces the world’s most advanced business aircraft, with innovations from nose to tail and wingtip to wingtip, all while offering unmatched global product support and service.

Gulfstream engineers, manufactures and services the world’s finest business aircraft. Headquartered in Savannah, Georgia, USA, Gulfstream operates facilities on four continents and employs more than 15,000 people worldwide.

Visit: Gulfstream


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

Previous ArticleNext Article