Asian Sky Quarterly 2023 Q1

EUROPE PROFILE: BUSINESS JET
Registries and authorities from several countries in Europe, including
the offshore-based Isle of Man, imposed deregistration orders on
aircraft connected to Russian owners. These included two BD-700
Global Express, a Falcon 7X, a G650, and an Airbus A340-300.
In June 2022, United States authorities issued a warrant for the
seizure of a G650 with Luxembourg registration, reportedly due to a
violation of the Export Control Reform Act (ECRA) for re-exporting the
US-manufactured aircraft into Russia without a Bureau of Industry and
Security (BIS) License.
The sanctions have undoubtedly created significant disruptions for
the industry, but players in the market, such as Europe-based charter
service providers, are finding innovative ways to adapt and overcome
challenges associated with Russia's omission from the market. The
effects of impounding aircraft connected to Russian owners were felt
in the European fleet from April 2022 onward, with the fleet dropping
by 29 aircraft within two months by June 2022. However, pre-owned
market inventory started to see pronounced replenishment starting at
the beginning of Q4 2022, reaching 141 jets for sale during November
2022, the highest figure seen since September 2021.
The fleet reached its lowest point over the three-year period at the end
of Q4 2022 with 2,519 jets, but has been steadily increasing since,
registering a net addition of 16 jets in Q1 2023, which included seven
Light jets and seven Large jets. Notable increases since the previous
quarter were seen in countries such as the United Kingdom (four
additions), Denmark (three additions), and Slovenia (three additions).
Top Five Countries of Registration
550
Germany France Austria Malta United Kingdom
500
300
280
260
240
220
200
180
160
140
Mar
2020
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
2021
2022
2023
8 | GLOBAL SKY QUARTERLY — FIRST QUARTER 2023