- June 16, 2021
- Posted by: Stratford Team
- Category: Business
Bombardier’s Global 7500 business jet is shown during a media tour in Montreal, Quebec, Canada, December 19, 2018. REUTERS/Christinne Muschi/File Photo/File Photo
June 15 (Reuters) – A shortage of newer-model business jets is driving up prices of second-hand aircraft, a trend that is expected to deliver a windfall for luxury planemakers as new affluent buyers enter the market.
After a turbulent 2020 due to COVID-19, the rush toward private transport is so marked that some buyers are snapping up second-hand planes before fully inspecting the wares as the market shifts toward sellers, lawyers and brokers said.
That is expected to push up demand for new jets from planemakers like General Dynamics Corp’s (GD.N) Gulfstream, Textron Inc (TXT.N) and Bombardier Inc (BBDb.TO) since buyers have fewer pre-owned options, and the price gap between old and new narrows.
“There are virtually no young pre-owned aircraft available – good news for would-be sellers and for…
