Private Jet Owners look to sell their jets

Private jet owners are now “jumping ship.” They are desperate to sell their private jets due to an economic recession that makes maintenance very expensive. However, they’re finding very few takers.
“The slowdown is hitting everyone,” said Captain Sandeep Saraf, director of operations at Pinnacle Air. “Jet owners are desperately selling off planes. We have witnessed a price drop of 40 to 50 per cent in two months.”
Director of AAA Aviation Vijay Kumar said: “Our jet inventory has nearly doubled, with owners all over the world, especially in the US, desperate to sell. Prices are so low that it is now worth paying in foreign currency for an Australian jet.”
“Jets are no more a Tata-Birla affair,” said Kumar. “Today, even a company worth Rs10 crore is seeking to purchase choppers.”
22/03/09 Private Jet Daily

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Categories: Foreign Mar 2009, Indian Aviation- In General Mar 2009