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Q2 <strong>2020</strong> – GLOBAL MARKET UPDATE: GLOBAL JET CAPITAL<br />
CONCLUSION<br />
Following the outbreak of COVID-19 and the ensuing social distancing<br />
measures, the business jet market was forced into a hiatus. Although<br />
the market decline began in Q1, the full effects of the outbreak<br />
were not felt until Q2. Beginning in April, both flight operations and<br />
transactions experienced steep declines. Market activity has begun<br />
to slowly increase since April but has not yet reached levels seen<br />
in 2019. Flight operations have improved the most among market<br />
indicators as people look for ways to travel while avoiding large<br />
crowds. Transactions have also improved but remain below 2019<br />
levels. Residual values have seen modest declines while inventory<br />
has seen gradual increases.<br />
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Visit www.globaljetcapital.com to learn more.<br />
Due to mixed market data as well as uncertainty surrounding the<br />
path of COVID-19, the near-term future of the business jet industry<br />
remains opaque. The future will likely play out along a number of<br />
different scenarios, largely correlated to the path of the COVID-19<br />
pandemic. Still, month-over-month improvements throughout the<br />
second quarter provide a reason for optimism regarding future<br />
market activity.<br />
i U.S. FAA<br />
ii Bloomberg<br />
iii Company financial reports.<br />
iv JetNet and Global Jet Capital analysis. Units are in parentheses<br />
v WHO<br />
vi JetNet and Global Jet Capital analysis. Units are in parentheses<br />
vii Amstat and Global Jet Capital Analysis<br />
viii JetNet and Global Jet Capital Analysis<br />
ix Aircraft Bluebook and Global Jet Capital analysis<br />
THIRD QUARTER <strong>2020</strong> — ASIAN SKY QUARTERLY | 39
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