Asian Sky Quarterly 2024 Q2

2ND QUARTER 2024 

ASIAN SKY FORUM JAKARTA 2024 

COUNTRY FOCUS: VIETNAM 

Market Spotlight 

SUPER MEDIUM HELICOPTERS 

Asian Sky Studies 

MOOD & INTENTIONS 

MARKET DYNAMICS 

MARKET SUMMARY 

Features 

AMSTAT 

DASSAULT AVIATION 

GLOBAL JET CAPITAL 

IADA 

OLLIE AIR 

WINGX ADVANCE 

SECOND QUARTER 2024 — ASIAN SKY QUARTERLY | I

EDITOR’S NOTE 

Bangkok. There, you go, I 

finally answered the question 

that I have been asked most 

over the past few months. You 

can stop reading this now if 

you want. 

But if you do want to keep 

reading, or if you don’t know 

what the question I have been 

asked the most is, then I’ll let you in on a little secret. 

Narendra from Aviatory Indonesia, and featuring speakers from 

CeoJetSet and the local aviation authority. The session itself took 

a deep long look into all of the current rules and regulations in 

place across the country and served as a primer for the remaining 

discussions during the forum. Across the following two days more than 

200 attendees joined us for sessions that took a deep look into the 

issues and opportunities, not only in Indonesia, but in the surrounding 

countries as well. We also took a look into alternatives methods of 

transportation to reach the smaller Indonesian islands with a panel that 

united speakers from helicopter and seaplane operators, and a panel 

that discussed opportunities for Advanced Air Mobility in the region. 

We knew, long before the Asian Sky Forum kicked off in Jakarta a 

few months ago that the next installment of the wildly popular Forum 

series would be held in Bangkok. The truth is that we just needed 

validation of our choice before we started planning. That validation 

came in the form of the responses to the survey we handed out on the 

last day of the Forum, with one of the questions asking where our next 

event should be held. 

Personally, I’d expected Thailand and Vietnam to occupy the top two 

positions. Actually, we had all expected Thailand to come out on top, 

which it did, but Vietnam came in third. Taking the second place, and 

coming slightly out of leftfield, was Japan. 

So, in June next year we will head to Bangkok to run the next Asian 

Sky Forum. In keeping with our original aim of moving the forum 

around cities in Asia, Bangkok fits perfectly as the country has seen a 

good amount of growth over the past few years. 

Of course, as organizers of the event we are bound to say that it was a 

huge success. But fortunately, we had a way of verifying this through 

the aforementioned survey feedback form that was handed out on the 

last day of the Forum. 

Unusually this was completed by a very high percentage of attendees. 

This was most likely due to three forms being chosen randomly 

(unfortunately from a cardboard box as we were unable to find anything 

more suitable), with the three winners each receiving one of three 

aircraft models that were kindly supplied by Bombardier and Dassault. 

What the responses showed us was that we had generally got 

everything right with the Forum. Delegates liked that we elongated the 

lunch and coffee breaks to allow more networking, appreciated the 

length of the conference, and generally agreed that we should run the 

conference once a year, although a good proportion suggested that 

they would like two forums per year. 

But back to Jakarta. The Asian Sky Forum kicked off with a session 

all about the host country, expertly moderated by local expert Ziva 

The biggest stat though was effectively our approval rating, for which 

we asked the question “Was this a good conference?” Attendees 

SPECIAL THANKS TO OUR CONTRIBUTORS AND SPONSORS 

II | ASIAN SKY QUARTERLY - SECOND QUARTER 2024

PUBLISHER 

were given a scale of 1 – 5 to choose from, so by combining the 

positive scores (4 or 5) we had an overall approval rating of 96%. 

Of course the success of any conference is not only thanks to the 

attendees and distinguished guests, but it is also due to all of the 

sponsors that put their faith in the conference before it even took 

place. We have a brief feature about the forum on page 5 of this 

quarterly, which also includes a thank you to all our sponsors. 

Elsewhere in the edition of Quarterly we have a special feature 

on the Super Medium helicopter market, expertly analyzed by 

our very own Consultancy Services Director Dennis Lau. We also 

have a feature about Dassault, looking at the company’s history 

and current aircraft offerings, and a feature on new luxury charter 

company Ollie Air, which recently begin offering a beautiful 

Bombardier Global XRS in the charter market. 

Lastly, I wanted to ask you to do me a favor. One of the sections 

that we used to include in Quarterly was an individual country 

profile, which looked at the fleet evolution and business jet 

flights into, inside and out of a particular country in the Asia- 

Pacific region. For this issue we take a dive into one of my 

favorite countries in the region – Vietnam. If you would like us to 

continue to run country features in future Quarterly’s, then please 

do drop us a note and let us know. 

Lastly, and as always, it just remains for me to say thank you 

to everybody that has contributed anything to this edition of 

Quarterly, no matter how large or small. 

EDITORIAL & MARKET RESEARCH 

Alud Davies 

Bowen Zhang 

Charlie Xu 

Cynthia Ning 

Dennis Lau 

Iris Lian 

Jerry Ho 

Vicki Rao 

Winny Cheng 

DESIGN 

Amy Liu-Lhuissier 

Zoe Xiao 

ADVERTISING/ENQUIRIES: 

Jerry Ho 

jerry@asianskygroup.com 

+852 9199 7751 

www.asianskygroup.com 

The materials and information provided by Asian Sky Group in this 

report are for reference only. While such information was compiled 

using the best available data as of June 30, 2024, any information 

we provide about how we may interpret the data and market, or 

how certain issues may be addressed is provided generally without 

considering your specific circumstances. Such information should 

not be regarded as a substitute for professional advice. Independent 

professional advice should be sought before taking action on any 

matters to which information provided in this report may be relevant. 

Asian Sky Group shall not be liable for any losses, damage, costs 

or expenses howsoever caused, arising directly or indirectly from 

the use of or inability to use this report or use of or reliance upon 

any information or material provided in this report or otherwise in 

connection with any representation, statement or information on or 

contained in this report. 

Sincerely, 

Alud Davies 

Head of Research & Publications 

Asian Sky Group 

Asian Sky Group endeavors to ensure that the information contained 

in this report is accurate as at the date of publication, but does not 

guarantee or warrant its accuracy or completeness, or accept any 

liability of whatever nature for any losses, damage, costs or expenses 

howsoever caused, whether arising directly or indirectly from any error 

or omission in compiling such information. This report also uses third 

party information not compiled by Asian Sky Group. Asian Sky Group 

is not responsible for such information and makes no representation 

about the accuracy, completeness or any other aspect of information 

contained. The information, data, articles, or resources provided by 

any other parties do not in any way signify that Asian Sky Group 

endorses the same. 

SECOND QUARTER 2024 — ASIAN SKY QUARTERLY | III

IV | ASIAN SKY QUARTERLY - SECOND QUARTER 2024

CONTENTS 

01 

05 

09 

FALCONS, A DIFFERENT BREED 


The history of Dassault and the features of its recent models. 

ASIAN SKY FORUM JAKARTA 2024 

Asian Sky Group held its in-person business aviation forum in 

Jakarta, Indonesia. 

COUNTRY SPOTLIGHT: VIETNAM 

An overview of the current business aviation market in Vietnam. 

44 

49 

AMSTAT GLOBAL PRE-OWNED 

MARKET UPDATE 

AMSTAT 

A review of the global market for pre-owned business 

jets and turboprops. 

GLOBAL BUSINESS AVIATION 

MARKET UPDATE 

GLOBAL JET CAPITAL 

A quarterly market brief of global business jet market. 

13 

20 

ASIA-PACIFIC MOOD & 

INTENTIONS 

Results from our famous quarterly survey that asks 

respondents for their outlook on Asia-Pacific’s economic 

status, aircraft utilization, purchase and chartering intentions, 

and influencing factors shaping the current market. 

FLIGHT ACTIVITY 

WINGX ADVANCE 

Asia-Pacific Business Jet Flight Activity 2024 Q2 Review. 

54 

58 

70 

MARKET SPOTLIGHT: 


An introduction of global Super Medium helicopters, as 

well as the analysis of the fleet in Asia-Pacific. 

MARKET DYNAMICS 

An analysis of global and Asia-Pacific inventory levels and 

market trends for the business jet and helicopter fleets. 


BUSINESS JETS 

27 

OLLIE AIR LAUNCHES ASIA-PACIFIC 

CHARTER OPERATIONS 

Ollie Air seeks to redefine private jet luxury in Southeast 

90 


HELICOPTERS 

Asia by delivering a truly premium flying experience and 

seamless service. 

30 

IADA MARKET REPORT 

The International Aircraft Dealer’s Association presents its 

second quarter market report. 

COVER IMAGE 

Asian Sky Forum 

Jakarta 2024 

SECOND QUARTER 2024 — ASIAN SKY QUARTERLY | V


FALCONS, 

A DIFFERENT BREED 

Last year Dassault celebrated the 60th anniversary of the first Falcon Jet—the Falcon 20. Famous aviator 

Charles Lindbergh recommended the plane to Pan Am Airlines for a new business jet division. The Falcon 

20 was his choice based on solid, fighter-like construction and high performance. 

Today the same traits that made the Falcon 20 exceptional at the 

time, are still the traits that make today’s Falcons different than other 

modern business jets—and in ways that are important to their owners. 

Dassault is the only company in the world that builds fighter jets 

(currently the Rafale) and business jets. It is therefore able to 

transfer fighter technology and construction techniques (fighter 

DNA) to its business jets. 

All Dassault business jets have slats and flaps for slow, safe 

approach speeds to short airfields. They are similar to Rafale 

systems that permit carrier landings. And both types of aircraft 

have tough trailing link landing gear that can take a pounding (and 

make every arrival smooth in a business jet). They also permit the 

business jets to land at close to maximum takeoff weight, so a 

Falcon could make a short hop, pick up passengers and fly across 

an ocean. 

1 | ASIAN SKY QUARTERLY - SECOND QUARTER 2024


Digital flight control 

technology, commonly 

referred to as fly-by wire 

design, is the top benefit that 

Dassault business jets get 

from the fighters.” 

Other business jets now have fly by wire, but none have been refining 

this technology for nearly 50 years as Dassault has. 

In a fighter, the pilot needs to be focused on the mission and the 

threat environment. Rafale flight controls have been designed with 

ease of use in mind. Dassault has carried this philosophy into its 

business jets. 

For example, in other aircraft models, the pilot is required to manually 

trim off control pressures as speed changes. In fly-by-wire Falcons, 

trimming is automatic. 

Falcons are known for their easy handling. They are easier to fly 

because the digital flight controls are more precise and offer a range 

of protections. The pilot cannot overstress the aircraft, overspeed or 

stall it. Falcon digital flight controls provide confidence in the worst 

conditions such as wind shear and gusty crosswinds. They provide 

a smoother ride in turbulence because they react faster and more 

precisely to quick, sharp updrafts and downdrafts. 

Drawing on fighter design, Dassault was the first install a headup 

display in a business jet, the Falcon 2000 in 1993. It provided 

improved situational awareness, especially when maneuvering in the 

final phases of a landing approach. 

Today’s Combined Vision System a fuses multiple sensor data and 

a global terrain database to create an outside picture of the world 

on a head up display showing mountains, obstacles, runways, even 

animals on runways in darkness and fog. 

Dassault introduced the first fly-by-wire plane in business aviation 

in 2007. The Falcon 7X set the benchmark for superior handling and 

safety protections. 

The Falcon 8X followed the 7X with longer fuselage, a new and 

lighter wing, more fuel capacity and longer range. It can fly 6,450 nm 

SECOND QUARTER 2024 — ASIAN SKY QUARTERLY | 2


nonstop. It is about a third lighter than competitors with lower fuel 

consumption and lower direct operating costs. The 8X is also one of 

the quietest business jets. 

Dassault’s newest aircraft, the Falcon 6X ultra-wide-body business 

jet entered service in late 2023, with deliveries now underway. Those 

who have flown it say it is even quieter. 

This 5,500 nautical mile aircraft has the largest cabin cross section 

in business aviation. Cabin height is six feet, six inches and width is 

eight-feet six inches. 

The 6X has an advanced version of Dassault’s digital flight controls 

integrating more controls into the fly-by-wire system, including 

a new control called a flaperon—part flap, part aileron. Among 

other things, it helps smooth the ride in turbulence and allows for 

steeper approaches with excellent speed control. It even integrates 

nosewheel steering into the fly-by-wire system for precise tracking 

on wet runways and in crosswinds. 

Now that the 6X has entered service, Dassault is more than ever 

focused on its next business jet, the 10X, which begins final 

assembly this year and will be certified in 2027. The 10X is even 

larger than the 6X and will be the largest and most comfortable 

purpose-built business jet—that is, not a repurposed airliner. The 10X 

will fly close to the speed of sound—Mach 0.925 and up to 7,500 nm. 

The 10X will have an even more advanced flight deck and flight 

controls. These include a “Smart Throttle,” one lever controlling 

both engines and completely integrated with the digital flight 

control system. This new level of integration allows for a new safety 

feature—an automatic recovery mode that can be activated in the 

event of an upset, for example, in a wake turbulence encounter. 

Meanwhile, the company’s smallest jet, the 4,000 nautical mile 

2000LXS, remains its best seller. Nearly 700 2000 series jets have 

been delivered. The first 10-seat jet, certified in 1994 remains a model 

of efficiency and go-anywhere, short field performance. 

www.dassaultfalcon.com 


Configuraon 

Fair Market Value (FMV) 

8 Queen’s Road East 

Wan Chai, Hong Kong 

Attn: Mr. Famous 

Dear Jerome, 

with this aircra appraisal. 

ASIAN SKY GROUP 

AIRCRAFT APPRAISALS 

Trusted, independent business jet 

and helicopter appraisal services 

Desktop 

Appraisal 

20 + 

Business Jets and Helicopters 

Over 20 years’ experience in 

aircraft appraisals and consulting 

Valuations for Aircraft Transactions and Financing 

Aircraft Records Review 

Valuations Adjusted for Maintenance Status & Condition 

Highly experienced 

analysts and appraisers 

Aircraft Physical Inspections 

sales@asianskygroup.com 

www.asianskygroup.com 

ABC AVIATION 

Suite 1509 

Comprehensive in-house 

valuation database 

Appraisal of a Portfolio of ive aircraft 

ASIAN SKY GROUP (“ASG”) is pleased to present ABC Aviaon (hereaer referred to as the "Client") 

In accordance with your instrucons, ASG is pleased to provide our Fair Market Value (FMV) opinion 

for the above caponed Porolio of Six Helicopters. Client requested the valuaon as part of the an 

end of lease selement. The summary of the appraised value opinions is as follows: 

Aircra Type Airbus AS350 B3e (H125) 

MSN 1111 

Registraon X-1111 

Aircraft 

Appraisal Report 

Year of Build 2000 

Configuraon Ulity – external load 

Fair Market Value (FMV) US$2.56 million 


MSN 2222 


Year of Build 2000 

Configuraon Ulity – external load 

Fair Market Value (FMV) US$2.55 million 


MSN 3333 

Trusted by operators, lessors, 

financiers and OEMs worldwide 

SECOND QUARTER 2024 — ASIAN SKY QUARTERLY | 4 


Year of Build 2000

Asian Sky Forum 

Jakarta 

2024 

After the success of its first Forum in Kuala Lumpur in 2023, Asian Sky Group held its next in-person 

business aviation forum in Jakarta, Indonesia. 

The forum attracted just over 200 business aviation professionals from Indonesia and the surrounding 

countries. 


With a focus on the Southeast Asia business aviation market, the forum was held at the Shangri-La Jakarta. 

Delegates joined networking drinks the night before the forum and after day one. 


Many thanks to 

our kind sponsors: 

ACAM Pacific, 

Aviatory Indonesia, 

Bermuda Civil Aviation Authority, 

Bombardier, 

CeoJetset, 

Chapman Freeborn, 

Dassault Aviation, 

Gibratar Aircraft Registry, 

Jet Support Services, Inc. (JSSI), 

Luxaviation, 

MedAire, 

Rolls-Royce, 

San Marino Aircraft Registry, 

The Registry of Aruba, 

Vista. 


TESTIMONIALS 

Thanks to the Asian Sky Group 

team for putting this insightful 

and worthwhile event together. 

Great to see so many aviation 

industry clients, partners and 

friends present and to make so 

many new connections!” 

What a great 2 days in 

Shangri-La Jakarta, attending 

the Asian Sky Forum event. 

Well done to the entire Asian 

Sky Group team! Happy to 

meet many familiar faces, great 

conversations and networking.” 

Great event with good topics 

and discussions.” 

Excellent forum, participants, 

and balance between sessions 

and networking.” 

Congratulations to the ASG 

team on hosting another 

great event, which brought 

together a strong industry 

representation.” 

Our team really enjoyed the 2 

days in Jakarta with Asian Sky 

Group and all of our industry 

colleagues. Great networking 

and insightful event!” 


ASIAN SKY FORUM 2024 

COUNTRY SPOTLIGHT: 

VIETNAM 

By Alud Davies 

You could be forgiven for drawing comparisons between the economy and business jet fleet in Vietnam and 

those in China. Much like in China, Vietnam underwent its own economic reforms during the 1980s, and just like 

in China, a government lead anti-corruption drive had a huge effect on the country’s business aviation market in 

recent years. 

Despite this, Vietnam can be viewed as a modern economic success story, with annual GDP growth never 

dipping below 2.55% even during the Covid years. 



Having transformed itself from centrally planned economy during 

the 1980 through a series of economic reforms dubbed Đổi Mới 

(Renovation) to a market lead economy, Vietnam has lifted itself, 

and its population, from one of the poorest nations on earth, to being 

reclassified as a lower-middle income country. 

alleged involvement in a US $12.5 billion fraud case. Although this 

was the most public case, and it’s likely that Vietnam will seek to 

make an example of Truong My Lan, the country’s own President 

Vo Van Thong resigned from office in March, after he had allegedly 

broken government rules. 

The country itself is as geographically diverse as its population. 

From the golden sandy beaches of Phu Quoc in the South to 

the winery snow covered streets of Sapa in the North, Vietnam’s 

coastline stretches for more than 3,260km. It is perhaps this 

coastline that many will be familiar with, as millions of tourists flock 

to the beaches of Nha Trang, and the beautifully preserved ancient 

town of Hoi An every year. 

Its capital city, Ha Noi, sits in the North of the country, and whilst it is 

officially the seat of power, its most populated city is Ho Chi Minh City. 

Located in the South of the country, Ho Chi Minh City is a sprawling 

city that is home to more than 10 million inhabitants that collectively 

contribute around a quarter of the country’s GDP every year. 

More than 40.0% of that GDP comes from services, which includes 

financial services, hospitality, health and information technology (IT). 

This percentage has largely stayed the same over the past few years, 

although it is being slowly caught up by Industry, which has been 

increasing by around 0.5% each year. 

However, it is exports that have really helped the Vietnamese 

economy grow. It is the worlds biggest exporter of broadcasting 

equipment and telephones, with South Korean giant Samsung 

building more than 60.0% of its popular cellphones in Vietnam. 

The country is also the worlds biggest exporter of cashew nuts, 

second biggest exporter of coffee, and in the top three global 

exporters of coconuts. 

Despite all of the good numbers that Vietnam has posted, its country’s 

citizens aren’t as optimistic about the economy, with many businesses 

closing down, and worried conversations about the state of economy 

happening in the thousands of coffee shops that dot the country. 

This political instability had a negative effect on the fleet of business 

jets in the country. Although Vietnam’s economic success had seen 

an expanding middle and upper middle class become increasing 

mobile, much like when China’s Xi Jinping introduced his anti-graft 

measures at the end of 2013, the fleet of business aircraft in the 

country would have declined rapidly over the course of the following 

year, as wealthy individuals and companies looked to distance 

themselves from any outwards showing of wealth, however a 

number of newly delivered aircraft helped balance out the departures 

from the fleet. 

Prior to the introduction of ‘Blazing furnace’ the country’s business 

jet fleet had still been in it’s infancy, and as such, the local authorities 

were still refining the rules and regulations for both operating in, 

and owning private jets in the country. These refinements included 

mandating that every private jet based in the country needed to be 

placed on the local VN- register, but also extended to the lengthening, 

and then shortening again, of permits to fly into the country. The 

rules on registering based aircraft in the country on the VN register 

appear to have been relaxed though, as one US-registered Gulfstream 

G650 is based in Ha Noi, the country’s capital city. 

Despite Ho Chi Minh City being the country’s biggest city, the 

majority of Vietnam’s business jet fleet is based up in Ha Noi, with 

just an Embraer Legacy 650 and a recently delivered Gulfstream 

G650ER based in the South. The numbers we have used in the data 

below is from our 2023 Business Jet Fleet Report, which covers data 

up until the end of 2023, however in June 2024 Truong Group, a large 

company specializing in the manufacturing of cars, light trucks and 

buses, took delivery of a brand-new Gulfstream G650ER (6559/VN- 

A966) and based it in Ho Chi Minh City. 

This really came to a head towards the end of 2022 when the 

Vietnamese government introduced its ‘Blazing Furnace’ drive, in 

an attempt to crackdown on corruption in the country. This has 

had mixed results, with 2023 alone seeing a total of 24,162 cases 

brought against people for either receiving bribes or not declaring all 

of their income. 

The most high-profile case of the anti-corruption drive saw property 

tycoon Truong My Lan sentenced to death in April 2024 for her 



Asian Sky Group began tracking the fleet in Vietnam in 2021, when 

there were a total of eight aircraft in the country. Since then a 

number of aircraft have left the fleet, which has been balanced out by 

a number of new aircraft joining the fleet. 

The fleet in 2021 is almost unrecognizable from the fleet in 2023, 

with only two of the eight aircraft in service in 2021 still being 

operational in 2023. Departures from the fleet in 2022 included 

two of the first private jets to be operated in the country – a 

Gulfstream G450 and a Boeing BBJ, both managed by Hong 

Kong-based management company Metrojet. The G450 left the 

fleet first and is now operating in Indonesia as T7-HNA, whilst 

the Boeing BBJ was added to the local Vietnamese register as 

VN-A123, then spent some time stored at Clark Airport in the 

Philippines. It has since reverted to the registration it wore 

before taking up VN-A123, although it is now stored in the US and 

registered as N883V. 

BUSINESS JET FLEET IN VIETNAM 

Model / Registration 2021 2022 2023 

BBJ - VN-A123 1 

G450 - N7777N 1 

Legacy 600 - VN-A268 1 1 1 

Legacy 650 - VN-A299 1 1 

Falcon 2000 EX 

VN-A238 1 1 

VN-A486 1 

VN-A788 1 1 

Falcon 8X 

VN-A488 1 

VN-A489 1 1 

VN-A499 1 1 

VN-A999 1 1 

Also missing from the 2021 fleet are two Falcon 2000LXS’, both 

of which have since been sold to operators in Europe. The first 

of these (361/VN-A486) left the fleet in January 2022 and is 

now operating in Turkey, whilst the second (302/VN-A788) left in 

August 2023 and is now in Italy wearing I-MIRL. 

A third Falcon 2000 family aircraft is still in Vietnam; however, 

this aircraft is effectively in storage having been put up for sale. 

Originally delivered in 2018 as VP-CTV, Falcon 2000S msn 744 was 

later re-registered locally as VN-A238, before being put up for sale 

in November 2023. Although the aircraft has performed a few test 

flights since being put up for sale, it remains in storage outside 

the Vietnam Airlines maintenance facility in Ho Chi Minh City. 

Despite the two Falcon 2000LXS’ leaving the Vietnam fleet, 

Dassault has continued its dominance in the country with the 

addition of four new Falcon 8Xs since 2021. Of the three Falcon 

8X's that Dassault has delivered to Vietnam since 2021, a total of 

three aircraft are managed by Hai Au Aviation. Based in Ha Noi, Hai 

Au had a long history of operating Seaplanes from its Ha Noi base, 

largely on scenic charters to some of Vietnam’s most stunning 

locations, including the UNESCO World Heritage Site Ha Long Bay. 

At the end of 2023 the Falcon 8X was the aircraft type that 

featured the most in the Vietnam business jet fleet, with the 

Gulfstream G650ER being the second most popular with three 

examples operating. However, this is set to change in 2024, with 

the aforementioned Ho Chi Minh City based G650ER (6559/VN- 

A966) being delivered to Vietnam in June of 2024. 

G650ER 

N77999 1 1 1 

VN-A298 1 1 

VN-A579 1 1 

Total 8 10 8 

Source: ASG Business Jet Database 

According to business aviation data and consultancy company 

WingX, business jet traffic into and within Vietnam has been 

erratic over the past few years. Along with China and South Korea, 

Vietnam is one of the only countries to follow the Lunar calendar, 

subsequently the period around the Lunar New Year (Tet) sees the 

entire country shut down for a week, as many migrants from the 

central highlands return home to spend time with their families. 

On average, Ho Chi Minh City has seen 31 monthly business jet flights 

over the course of the past few months, whilst Ha Noi has seen 48 

monthly flights. However, on a monthly basis since the beginning of 

2024, Ho Chi Minh City has seen its year-on-year number of business 

jet flights decline just once (in February, the same month that the 

country slows down for its Lunar New Year Tet celebrations), whilst Ha 

Noi saw the consecutive declines between January and March, and a 

further fourth and fifth decline in May and June. 

Unsurprisingly it is the route that connects the country’s biggest 

cities of Ha Noi and Ho Chi Minh City that sees the most business jet 

traffic. A total of 108 flights over the course of the past year operated 

between Ha Noi and Ho Chi Minh City, whilst the opposite direction 

saw a slightly higher number at 116. 



When it comes to the top 10 destinations from both Ha Noi and Ho 

Chi Minh City there is a bit of a divergence between destinations. No 

international destinations feature in the top three routes from Ha Noi, 

whilst two international routes appear in the top three from Ho Chi 

Minh City. The most popular international destination from Ha Noi is 

Singapore, which appears as the fifth most popular route from the 

country’s capital, behind domestic destinations Ho Chin Minh City, 

Da Nang, Nha Trang and Phu Quoc, the latter three of which can be 

classed as leisure destinations. 

Whilst Singapore is the fifth most popular destination from Ha Noi, 

it is the second most popular destination from Ho Chi Minh City, 

beaten only by the busiest domestic route to the country’s capital. 

Singapore is just one flight ahead of Bangkok, which also follows 

right behind Singapore on the list of most flown routes from Ha Noi. 

Rank 

Departure from Ho Chi Minh 

(July 2023 - June 2024) 

Flights 

1 Ha Noi 116 

2 Singapore 33 

3 Bangkok 32 

4 Da Nang 16 

5 Phu Quoc Island 15 

6 Hong Kong 12 

7 Subang 10 

8 Anchorage 7 

9 Dubai 6 

10 Manila 6 

Source: WingX 

Outside of Asia, there were only three routes appearing in the top 

ten routes from each city, although it could be argued that neither 

of the routes were necessarily the final destination for those flights. 

Dubai appeared in the top 10 routes from both Ha Noi and Ho Chi 

Minh City, in the tenth and ninth spots, respectively. Although Dubai 

is destination in its own right, it’s likely that some of these flights 

used Dubai as a staging post to eventually reach somewhere in 

Europe. This is definitely the case with the third non-Asian route from 

Vietnam, as Anchorage occupies the eighth position for flights from 

Ho Chi Minh City. Anchorage is used as a refueling stop on the way 

from Asia to destinations in Canada and the US. 

Overall, there were five domestic destinations in the top ten 

routes from Ha Noi, whilst only three were in the top ten from 

Ho Chi Minh City. The additional domestic route from Ha Noi 

not mentioned above was to Vinh Dung Quat, which can also be 

classed as a leisure destination. 

Rank 

Departure from Ha Noi 

(July 2023 - June 2024) 

Flights 

1 Ho Chi Minh City 108 

2 Da Nang 49 

3 Nha Trang 43 

4 Phu Quoc Island 41 

5 Singapore 39 

6 Bangkok 36 

7 Vientiane 24 

8 Subang 14 

With a population of almost 100 million and a rapidly expanding 

economy, Vietnam’s business jet flights will grow, however just like 

we alluded to right at the start of this article, there are many parallels 

that can be drawn with fleet growth in China as well. 

The biggest of those that has yet to be discussed is a lack of 

infrastructure to support business aviation operations, as well as 

saturated airports. 

Currently there are no FBOs operating in Vietnam. There have 

previously been talks between local Vietnamese companies and a 

well known Asian business aviation company to establish an FBO in 

Ha Noi, however the talks between the two parties stumbled due to a 

lack of government support. 

Vietnam is a vast country, with a very good domestic airline network 

served by newer generation aircraft at high frequencies. This has, 

in the case of Ho Chi Minh City at least, meant that the existing 

facilities are unable to keep pace with the growing number of flights. 

The city is addressing this by not only building a new terminal at the 

current Tan Son Nhat International Airport, but also by building a 

new airport which is set to become operational in mid-2026, having 

slipped from its original target of 2025. 

Located to the east of Ho Chi Minh City in the Long Thanh District, 

the airport is designed to accommodate 100 million passengers 

per year, and whilst it has also be designed to handle up to 1.2 

million tons of cargo per year, there are currently no plans to handle 

business aviation flights. 

9 Dung Quat Bay 13 

10 Dubai 12 

Source: WingX 


ASIA-PACIFIC 

MOOD & 

INTENTIONS 

QUARTERLY SURVEY 


QUARTERLY SURVEY 

RESPONDENT BREAKDOWN 

Respondent's Business Location 

Oceania (7.9%) 

South Asia (9.4%) 

Rest of the World (15.6%) 

Top Business Operation Locations 

Thailand (4.9%) 

United States (7.0%) 

Australia (7.0%) 

Philippines (9.1%) 

India (9.1%) 

Indonesia (9.8%) 

74% of total 

respondents 

Middle East & 

North Africa (3.7%) 

Southeast & 

Northeast Asia (39.3%) 

Greater China (24.1%) 

Taiwan (3.5%) 

Hong Kong SAR (16.1%) 

Mainland China (11.9%) 

Singapore (11.1%) 

Malaysia (10.5%) 

Q2 2024 Survey Highlights 

MOOD & INTENTIONS: QUARTERLY SURVEY 

1. In Q2, the overall percentage of respondents who felt 

optimistic about the regional economies in Asia-Pacific, the 

Middle East & North Africa declined to 79.7% from 85.5% in 

the previous quarter. The optimism levels decreased across 

all subregions, with only South Asia, Southeast & Northeast 

Asia remaining above the average. 

2. 56.2% of respondents reported that their aircraft utilization 

increased in Q2, while 33.6% considered their aircraft utilization 

has decreased. 

3. More than half (56.5%) of respondents were willing to purchase 

an aircraft in the coming year, with 23.4% willing to buy a new 

aircraft and 33.1% interested in a used one. However, the 

intention to purchase both new and used aircraft declined 

compared to the previous quarter. Large jets were the most 

popular option for fixed wing purchases while twin-engine 

turbines were the most selected choice for helicopters. 

4. Approximately 43.3% of respondents consider the market to be 

fairly balanced. 33.3% of the respondents believe it is currently 

a buyer's market and only 13.3% perceive it as a seller's market. 

5. 48.7% of respondents expressed an intention to charter an 

aircraft within the next three months, a decline from the 

previous quarter. 

In Asian Sky Group’s Q2 2024 survey on the industry’s mood 

and intentions, we received more than 200 responses from 

business aviation professionals. 

Respondent’s Related Aircraft Type 

Turbine Helicopter (22.3%) 

Business Turboprop 

(Such as King Air) (23.0%) 

Piston Helicopter (4.9%) 

Business Jet (49.8%) 

The regions with the most respondents included: 

1. Southeast Asia and Northeast Asia (39.3%) 

2. Greater China, mainly covering mainland China and 

Hong Kong SAR (24.1%) 

3. South Asia (9.4%) 

4. Oceania (7.9%) 

5. Middle East and North Africa (3.7%) 

Half of respondents (49.8%) were from businesses focused on 

business jet operations, while the remaining respondents were 

primarily from companies involved in turbine helicopter (22.3%) 

and business turboprop (23.0%) related activities. 

Respondent’s Category 

Aircraft Owner / 

Charter User (6.2%) 

Aircraft Sales / 

Charter Broker (20.8%) 

75% of total 

respondents 

Aircraft Operator / 

Management Company (43.1%) 

Service Providers 1 

(FBO, MRO, etc) (29.9%) 

43.1% of respondents were from aircraft operators, 29.9% were 

from service providers, and 20.8% were involved in aircraft sales 

or charter brokerage. 

Economic Outlook in the Region 

During the second quarter, the overall level of optimism 

among respondents regarding the regional economies in 

Asia-Pacific, Middle East & North Africa decreased from 

85.5% in the previous quarter to 79.7%. 



Looking at the data over the past two years, the optimistic outlook 

in South Asia, Southeast & Northeast Asia has consistently stayed 

above average. This suggests their economic development is 

steadily improving. Southeast & Northeast Asia had the highest 

optimistic level of 91.7% in Q2, followed by South Asia at 90.0%, 

significantly outpacing the other subregions. In contract, Greater 

China, Oceania, Middle east & North Africa experienced a sharp 

decline in optimism from the previous quarter with Greater China 

having the lowest optimistic level among all the subregions at 

63.2%. The trends across the subregions suggest that the economic 

recovery and growth outlook remain uneven. 

Aircraft Utilization in the Region 

In Q2 2024, more than half of the respondents (56.2%) reported an 

increase in aircraft utilization. Of these, 24.2% saw an increase of 20% 

or more, while 32.0% experienced an increase of less than 20%. At the 

same time, the number of respondents who saw decreased aircraft 

utilization rose to 33.6% compared to the previous quarter. This change 

was reflected in broader regional flight activity trends. According to 

WingX Advance, a data research and consulting company, flight activity 

in Asia-Pacific in Q2 decreased by 8.7% compared to the first quarter. 

South Asia, Middle East & North Africa saw growth in aircraft utilization, 

while other subregions saw a decline. 

Purchase and Charter Intentions 

The number of respondents planning to purchase an airplane 

within the next year dropped to 56.5% in Q2. Among these, 23.4% 

intend to buy a new airplane and 33.1% plan to purchase a used 

airplane. The total purchase intention of aircraft in Q2 represents 

the lowest level seen over the past two years. The decline in the 

overall interest in airplane acquisitions likely reflects a shift in 

economic conditions and consumer confidence. 

When it comes to purchasing intentions for fixed-wing aircraft, 

the Large Jet category is the most popular choice. Overall, 45.5% 

of buyers from Greater China and 38.3% of buyers from Southeast 

& Northeast Asia favor Large jets. The Medium Jet was the top 

pick in Oceania and South Asia. For rotary aircraft, Twin turbine 

helicopters were the most popular category, followed by Single 

Turbine models. 

A total of 43.3% of respondents felt the pre-owned aircraft market 

is quite balanced. Another 33.3% believe the market currently 

favors buyers, while the proportion viewing it as a seller's market 

continues to decline - now down to 13.3%, the lowest level in 

three years. The drop is potentially due to softening demand or 

increased competition. According to Asian Sky Group's Q2 market 

analysis, the inventory value of global pre-owned business jets 

has increased by 6.2% compared to Q1. The rising of inventory 

levels is likely to give buyers more leverage and negotiating power. 

In total, 48.7% of respondents intend to charter an aircraft in the 

coming three months, a decline from the previous quarter's figure 

of 53.9%. Meanwhile, 19.1% of respondents stated they will not 

be chartering any aircraft during this period. The Other 32.2% are 

are undecided. 

ECONOMIC STATUS 

What is the Current Economic Situation Where Your Business Operates? 

41.1% 

39.8% 

40.0% 

43.9% 

41.0% 

39.7% 

55.0% 55.7% 

46.3% 

50.7% 

52.9% 

Past Low Point 

53.7% 

51.2% 

Optimistic 

42.4% 

45.0% 

46.0% 

32.1% 

31.3% 

29.2% 

31.4% 

24.3% 

26.4% 

26.1% 

26.1% 

31.8% 28.5% 

At Low Point 

Pessimistic 

16.5% 

15.3% 

14.0% 

24.0% 

27.7% 

31.1% 

13.6% 

20.0% 

27.3% 

23.2% 

21.0% 

14.5% 20.3% 

Not Reached Low Point 

Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 



ECONOMIC STATUS 

Optimism Level Since Q1 2021 Regional Difference 2 

Greater China Southeast & Northeast Asia Middle East & North Africa Oceania South Asia Overall 

100% 

100.0% 100.0% 

100.0% 

90% 

80% 

70% 

88.9% 

86.0% 

85.0% 

86.7% 85.3% 

81.0% 

83.0% 

80.0% 80.6% 

73.3% 

68.8% 

88.9% 

77.0% 

66.7% 

83.3% 

72.3% 

66.7% 

87.7% 

81.7% 

73.3% 

68.6% 

92.5% 

85.0% 

80.0% 

69.0% 

88.0% 

87.5% 

75.0% 

83.3% 

70.5% 

69.9% 

92.0% 

77.5% 

73.0% 

72.0% 

71.4% 

70.0% 

89.5% 

86.8% 

83.3% 

79.0% 

77.3% 

69.8% 

93.0% 

85.5% 

81.8% 

72.5% 

91.7% 

90.0% 

79.7% 

75.0% 

63.6% 

60% 

60.0% 

59.6% 

58.5% 

56.3% 

60.0% 

63.2% 

50% 

50.0% 

40% 

30% 

20% 


Rank the following factors that you think are critical to the future of business aviation: 

Cabin Sanitation 

Carbon Emissions 

Value for Price Paid 

Customer Service 

Flexibility / Punctuality 

Privacy 

Maintenance Support 

Factors 

Overall Rank 

Score 

(the lower the better) 

Value for Price Paid 1 2.2 

Customer Service 2 2.6 

Flexibility / Punctuality 3 2.8 

Maintenance Support 4 2.8 

Privacy 5 3.6 

Carbon Emissions 6 4.8 

Cabin Sanitation 7 5.2 



PURCHASE AND CHARTER INTENTIONS 

Where do We Currently Stand in the Pre-owned Aircraft Market? 

Buyer’s Market 

Balanced Market Seller’s Market I’m not sure 

52.4% 

57.9% 

57.9% 

54.9% 

52.9% 

58.5% 

46.3% 

43.5% 43.9% 

48.8% 

42.1% 43.3% 

34.1% 

28.6% 

30.0% 

33.3% 

28.3% 

26.3% 

25.9% 27.5% 

31.6% 

25.6% 

23.5% 

26.3% 

26.1% 25.0% 

19.0% 

17.6% 

20.4% 

20.9% 21.1% 

15.7% 14.7% 

22.5% 

15.8% 15.8% 

9.4% 

14.6% 

13.3% 

11.8% 

8.8% 

10.1% 

7.4% 

7.3% 

0% 0% 

3.8% 

4.7% 5.2% 

0% 

2.9% 


Purchase Intentions Q2 2021 - Q2 2024 3 

Yes, a new aircraft 

Yes, a pre-owned aircraft 

No/I’m not sure 

52.1% 

52.7% 

55.0% 

45.5% 

42.9% 

43.5% 

25.8% 

22.0% 

23.2% 

24.1% 

23.3% 

21.8% 

30.3% 30.2% 

24.2% 

26.9% 

39.1% 

31.9% 

29.0% 

36.2% 36.8% 

30.9% 

29.9% 

32.9% 

33.3% 

39.0% 38.9% 

34.0% 37.7% 

27.0% 

23.4% 

37.4% 

33.5% 

29.1% 

38.4% 

35.8% 

25.8% 

33.1% 

23.4% 




Purchase Intention - Regional Differences (Fixed Wing) 

Corporate Airliner 

Large Jet 

Medium Jet 

Small Jet 

Turboprop / Piston Fixed Wing 

Greater China 

18.2% 45.5% 

13.6% 4.5% 

18.2% 

Oceania 

12.5% 18.8% 25.0% 

25.0% 

18.8% 

Southeast & 

Northeast Asia 

12.8% 38.3% 

14.9% 

17.0% 

17.0% 

Middle East & 

North Africa 

33.3% 

33.3% 

33.3% 

South Asia 

12.5% 

25.0% 

37.5% 

25.0% 

Aircraft Purchase Intention - Fixed Wing 

Corporate Airliner 

(Such as ACJ, BBJ) 

Aircraft Purchase Intention - Rotary 

Twin Turbine Helicopter 

(Such as EC145/H145, AW139) 

Most Preferred 

Turboprop/ 

Piston Fixed Wing 

(Such as King Air Series) 

Large Jet 

(Such as G650, 

Falcon 8X) 

Most Preferred 

Small Jet 

(Such as Citation Series, 

Hawker Series) 

Medium Jet 

(Such as Challenger 650) 

Piston Helicopter 

(Such as Robinson R22/R44) 

Single Turbine Helicopter 

(Such as AS350/H125, Bell 505) 

Purchase Decisions - Influencing Factors 

(Outer means more limited) 

Charter Intentions in Next Three Months 

Greater China 

Southeast & Northeast Asia 

Oceania 

Grand Total 

Government / 

Public Opinion 

No (19.1%) 

Inconvenient to use 

(limited operation) 

Availability of 

latest / sought after 

aircraft types 

Not sure/ 

Considering (32.2%) Yes (48.7%) 

Necessity 

Price 



FLEET UTILIZATION 

Aircraft Utilization Compared to 12 Months Ago 4 

100% 

50% 

0% 

Up by 

20% and more 

(>20%) 

Up by less than 

20% (0—20%) 

The same (0%) 

Down by 

less than 20% 

(-20 - 0%) 

Down by 

20% or more 

(

ASIA-PACIFIC 

BUSINESS JET 


Q2 2024 REVIEW 

WINGX is a data research and consulting company which provides actionable 

market intelligence to the global business aviation industry. Their interactive 

web-hosted dashboards provide their customers with the data-visualization they 

need to stay alert to market trends, keep tabs on market share, identify competitive 

threats and spot new sales opportunities. WINGX customers include aircraft 

operators, airframe, engine and avionics OEMs, airlines, maintenance providers, 

airports, fixed-based operators, satcom providers, fuel providers, legal advisors, 

leasing companies, banks, regulators, investors and private jet users. 

For further information and a free demo of their dashboards, please contact: 

Richard or Christoph at office@wingx-advance.com 

WINGX Data Source: ADSB and ATCs 

DATA BY 



The total number of business aircraft flights departing from Asia-Pacific 

in the second quarter was 28,448, a decrease of 8.7% compared to the 

first quarter. Compared to the same period in 2023, there was a slight 

decline of 1.9%. The chart below shows that the number of flights in June 

dropped significantly compared to April and May, with a total of 8,652 

flights, representing the lowest monthly total over the past year. January 

recorded the highest number of flights in the past year, reaching 10,576. 

Over the past year, business aircraft flights totaled 118,437. The 

weekly number of business flights fluctuated between 2,000 and 

2,500. The most recent peak occurred in February, with approximately 

2,500 flights per week. Since then, weekly flights have gradually 

declined, reaching around 2,000 by June. 

DEPARTURES FROM ASIA-PACIFIC 

2023 2024 

12,000 

10,000 

8,000 

6,000 

4,000 

2,000 

0 

Apr 

2023 

May 

Jun 

Jul 

Aug Sep Oct Nov Dec 

Note: WINGX has recently added new flight data from January 2023, and we have made corresponding retrospective adjustments to our data to reflect WINGX's changes. 

Jan 


Feb 

Mar 

Apr 

May 

Jun 

DEPARTURES BY WEEK 

2023-2024 2022-2023 2021-2022 

3,000 

2,500 

2,000 

WINGX added new data 

from January 2023. 

1,500 

1,000 

500 

0 

Jul Aug Sep 

Oct Nov 

Dec 

Jan Feb Mar Apr 

May Jun 



In the second quarter of 2024, domestic flights continued to dominate, 

accounting for 71.7% of the total Q2 flights. However, international 

flights saw a decrease of 6.4% compared to the same period in 2023. 

Regarding flight durations, flights lasting between 30 minutes to one 

hour and those between one to two hours constituted the largest 

share of all flights, at 28.6% and 32.1%, respectively. Compared to the 

same period in 2023, the number of short-haul flights (less than one 

hour) increased, while all other duration categories decreased. The 

most significant decrease was seen in flights lasting between two to 

three hours, which dropped by 16.7%. 

INTERNATIONAL VS. DOMESTIC FLIGHTS 

FLIGHT DURATION, Q2 2024 

Domestic Flights 

International Flights 

More than 5 hours (7.7%) 

2023 Q2 

2024 Q2 

69.9%, (20,288) 30.1%, (8,725) 

71.7%, (20,388) 

28.3%, (8,060) 

0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 

4 to 5 hours (2.7%) Max 30 min (9.9%) 

3 to 4 hours (6.3%) 

30 min to 1 hour (28.6%) 

2 to 3 hours (12.7%) 

1 to 2 hours (32.1%) 



TOP 10 ROUTES WITHIN ASIA-PACIFIC, Q2 2024 

Beijing 

6 

Shanghai 

New Delhi 

Ahmedabad 

4 

5 

Mumbai 

8 

Popularity (Highest to Lowest) 

Bangalore 

Kuala Lumpur 3 

9 

Johor Bahru 

Singapore 

1 

TOP 10 DESTINATIONS OUTSIDE APAC 

Ranking Arrival City Country 

1 Dubai United Arab Emirates 

Jakarta 

7 

Denpasar 

2 London United Kingdom 

3 Anchorage United States 

4 Honolulu United States 

5 Los Angeles United States 

6 Abu Dhabi United Arab Emirates 

7 San Francisco United States 

8 Almaty Kazakhstan 

9 Riyadh Saudi Arabia 

INCREASING POPULARITY 

Brisbane 

10 

Sydney 

10 Istanbul Turkey 

Note: The route map is for illustrative purposes only and may differ from the actual flight path. 

Melbourne 

2 

When comparing the current quarter to the previous one, Istanbul 

emerged as a new entrant in the top 10 destinations outside 

the Asia-Pacific region, replacing Seattle. This shift shows the 

growing importance of Istanbul as a business hub, connecting 

Europe and Asia. Dubai maintained its position as the top 

destination, although the number of flights arriving in Dubai in 

Q2 decreased significantly by 26.4% compared to the previous 

quarter and decreased by 8.2% compared to the same period in 

2023. London moved up to second position from fourth place 

in the previous quarter, with a 30.0% increase in the number of 

flights compared to the previous quarter. 

Examining the routes within the Asia-Pacific region, the top 10 routes 

in Q2 saw considerable changes compared to the previous quarter, 

with three new routes entering the list. Beijing-Shanghai and Jakarta- 

Denpasar (Bali) re-entered the top 10, while Kuala Lumpur-Johor Bahru 

appeared in the top 10 for the first time. Beijing-Shanghai remains a 

critical corridor for business travel within China, driven by the robust 

economic activities in both cities. Jakarta-Denpasar may benefit from 

increased travel demand. Johor Bahru, being close to Singapore, 

serves as a business link, and the Kuala Lumpur-Johor Bahru route’s 

emergence can be attributed to the growing business interactions. 



DEPARTURES BY OEM, Q2 2024 

Airbus (0.6%) 

Boeing (1.3%) 

Honda (1.5%) 

Pilatus (6.2%) 

Dassault (8.1%) 

Embraer (10.1%) 

Gulfstream (19.3%) 

Others 1 (0.3%) 

Textron (28.3%) 

Bombardier (24.3%) 

1. Others Include: Cirrus, Eclipse Aerospace, Israel Aerospace Industries, Mitsubishi Aircraft, 

Lockheed Aircraft 

Textron and Bombardier continue to be the OEMs with the highest 

number of flights, accounting for 52.6% of the total. Gulfstream 

follows closely, with Gulfstream's G600/650 being the top-ranked 

aircraft model. Bombardier's Global Express/6000/6500 and 

Textron's Citation Mustang rank second and third, respectively. 

The most notable change is the Pilatus PC-24, which moved into 

fourth place with an 87.0% increase in flights compared to the 

same quarter last year. Almost all of the increase in Pilatus PC-24 

flights occurred in Australia, as it is employed by the Royal Flying 

Doctor Service. The aircraft is well-suited to their needs due to its 

versatility, and ability to operate on short and unpaved runways, 

making it ideal for accessing remote areas. Another significant 

development is the Phenom 300 making the list for the first time. 

DEPARTURES AND HOURS BY MODEL, Q2 2024 

7,903 

HOURS 

Aircraft Model 

G600/650 

DEPARTURES 

2,273 

7,032 

GLOBAL EXPRESS/6000/6500 

2,261 

1,509 

CITATION MUSTANG 

1,817 

2,159 

PC-24 

1,756 

3,046 

CHALLENGER 600/601/604/605/650 

1,528 

4,333 

GV/500/550 

1,508 

2,251 

LEGACY 600 / 650 

1,418 

1,891 

HAWKER 700/750/800/850/900 

1,303 

1,607 

FALCON 2000 

1,093 

2,342 

G300/350/400/450 

993 

919 

CITATION EXCEL / XLS 

827 

1,047 

PHENOM 300 

778 

*Model Groupings Defined by WINGX 



DEPARTURES BY COUNTRY 

Australia India Mainland China Japan Indonesia Thailand 

3,000 

2,750 

2,500 

2,250 

2,000 

1,750 

1,500 

1,250 

1,000 

750 

500 

250 

0 

Jul 

2023 

Aug Sep Oct Nov Dec 

Jan 

Feb Mar 

Apr 

May 

Jun 


Australia and India remained the countries with the highest number 

of flights, but also showed the most significant fluctuations in Q2. 

Australia's flights dropped quickly in June after reaching a recent 

one-year peak in May. Similarly, the number of flights in India peaked 

in March and then decreased more rapidly, with the total flights in Q2 

declining 20.4% when compared to the first quarter. Mainland China 

and Indonesia both rebounded after hitting lows in April. Whilst 

Japan and Thailand were relatively stable, they also saw decreases 

when compared to the first quarter. 

TOP CITY FLIGHT ACTIVITY TRENDS 

Singapore remained a leading destination for business travel in 

Asia-Pacific, with the highest number of business flight departures 

in the past year, totaling 4,920 flights. Sydney regained its position 

as the second highest, replacing Mumbai, with a one-year peak 

of 460 flights in May. The recovery in Sydney's business flights 

suggests a rebound in economic activity and confidence in the 

Australian market. Mumbai and New Delhi followed closely, but 

their flights dropped significantly in Q2 after peaking in March. 

Flights departing from Mumbai in Q2 decreased by 19.2% compared 

to Q1, and for New Delhi, the decline was 18.1%. For Bangkok and 

Hong Kong, the yearly trend was relatively smooth. Notably, Tokyo 

reached a one-year peak in April with 312 flights. However, Jakarta 

experienced a one-year low in April, nearly 42.8% down from its 

peak in January. 

Number of Departures YoY % 

Singapore (Seletar, Changi) 

Sydney (Kingsford Smith, Bankstown) 

39.4% 

29.9% 

29.5% 

8.2% 

422 

17.3% 16.8% 

460 

466 

-10.7% -2.0% 6.5% 2.4% 

431 

410 398 393 

-12.6% -16.4% 

374 

387 

-16.1% 

380 

1.8% 2.0% 

393 

406 

314 

355 

333 

362 

366 

396 

359 

20.3% 

420 

446 

18.9% 

435 

460 

386 

3.6% 

4.2% 

-3.8% 

-2.6% 

-5.5% 

-6.9% 

3.8% 

Jul 

23 

Aug 

23 

Sep 

23 

Oct 

23 

Nov 

23 

Dec 

23 

Jan 

24 

Feb 

24 

Mar 

24 

Apr 

24 

May 

24 

Jun 

24 

Jul 

23 

Aug 

23 

Sep 

23 

Oct 

23 

Nov 

23 

Dec 

23 

Jan 

24 

Feb 

24 

Mar 

24 

Apr 

24 

May 

24 

Jun 

24 



Mumbai (Chhatrapati Shivaji) 

New Delhi (Indira Gandhi) 

56.8% 

46.8% 50.4% 44.7% 

53.1% 

297 

18.1% 

293 

36.6% 

336 

21.5% 

378 

48.2% 

446 

31.8% 

439 442 

-3.9% 

-7.6% 

400 

488 

14.0% 

-9.2% -8.2% 

377 

369 

16.3% 

329 

13.5% 

260 

348 

364 

403 

437 

9.5% 

334 

9.2% 

368 

1.2% 

406 

2.8% 

440 

-2.7% 

329 

17.8% 

364 

9.1% 

301 

Jul 

23 

Aug 

23 

Sep 

23 

Oct 

23 

Nov 

23 

Dec 

23 

Jan 

24 

Feb 

24 

Mar 

24 

Apr 

24 

May 

24 

Jun 

24 

Jul 

23 

Aug 

23 

Sep 

23 

Oct 

23 

Nov 

23 

Dec 

23 

Jan 

24 

Feb 

24 

Mar 

24 

Apr 

24 

May 

24 

Jun 

24 

Bangkok (Don Mueang, Suvarnabhumi) 

Tokyo (Haneda, Narita) 

53.0% 

25.9% 

21.9% 

50.6% 

71.3% 

243 

17.2% 

252 

254 

245 

243 

-0.8% 

15.0% 

314 

287 

3.6% 

300 

6.4% 

287 

-3.4% 

264 

-4.3% 

243 

9.2% 

261 

259 

28.8% 25.4% 

33.5% 

15.7% 

1.7% -6.0% 

285 312 

295 

292 

252 

272 

245 235 

235 

-8.1% -12.6% 

-4.5% -4.5% 

234 

232 

-7.6% 

Jul 

23 

Aug 

23 

Sep 

23 

Oct 

23 

Nov 

23 

Dec 

23 

Jan 

24 

Feb 

24 

Mar 

24 

Apr 

24 

May 

24 

Jun 

24 

Jul 

23 

Aug 

23 

Sep 

23 

Oct 

23 

Nov 

23 

Dec 

23 

Jan 

24 

Feb 

24 

Mar 

24 

Apr 

24 

May 

24 

Jun 

24 

Jakarta (Halim Perdanakusuma, Soekarno-Hatta) 

Hong Kong (Hong Kong Intl.) 

232.9% 

178.8% 

155.9% 

95.2% 

274 

-15.7% 

14.9% -6.2% 

277 

274 

5.9% 16.0% 297 

1.8% 

285 

280 

55.1% 

318 

27.8% 

285 

11.1% 

-24.2% -13.7% -5.3% 

194 

182 

240 

232 

223 

238 

273 

246 

85.6% 

284 

257 

239 

8.4% 

-22.9% 

249 251 

230 

-0.4% 

-21.3% 

-35.0% 

228 

232 

-9.5% -11.8% 

Jul 

23 

Aug 

23 

Sep 

23 

Oct 

23 

Nov 

23 

Dec 

23 

Jan 

24 

Feb 

24 

Mar 

24 

Apr 

24 

May 

24 

Jun 

24 

Jul 

23 

Aug 

23 

Sep 

23 

Oct 

23 

Nov 

23 

Dec 

23 

Jan 

24 

Feb 

24 

Mar 

24 

Apr 

24 

May 

24 

Jun 

24 


OLLIE AIR LAUNCHES 

ASIA-PACIFIC CHARTER 

OPERATIONS 

We all have different definitions of luxury. For some it is the soft natural cowhide of a Hermès Birkin 

handbag, whilst for others it is the sound of silence during a quiet weekend in the countryside. 

For people chartering private jets, luxury is less subjective, with many believing that flying on a private 

jet is in itself is the luxury. That ethos has in many cases tricked itself down to the private jet operators 

themselves, which often bill themselves as luxury but regularly fail to live up to their own billing. 


OLLIE AIR 

“Our first flight was a multi-leg trip to China, but since then around 

30% of our enquiries have been for flights to Europe, USA and 

Canada, with the rest being within Southeast Asia, to Vietnam, 

Cambodia, with a bit to China as well.” Says Heo. 

The company launched with a Bombardier Global XRS, which underwent 

a full transformation to bring it up to Ollie Air’s exacting standards. 

It’s this complacency, along with a lack of long-range charter aircraft 

available in Southeast Asia that has led new private jet charter 

company Ollie Air to be set up, which is aiming to bring luxury back 

to flying on private jets. 

“We all know that there are not so many ultra long-range aircraft, 

especially in Southeast Asia available for charter,” says Ollie Air’s 

Managing Director, Chloe Heo. “The problem is that a lot of those that 

are available say that they are luxury charter operators, but when you 

step on board their aircraft you can see that they actually aren’t.” 

Heo says that prior to forming Ollie Air she flew many empty leg 

flights with other operators to sample their onboard service and 

was left a bit disappointed by the level of service and catering, as 

well as the condition of the aircraft that she flew on. 

“So when we started this company, our aim was always to actually 

provide a real private jet experience, and we are working very hard 

every day to make that happen.” Says Heo, adding that “We want to 

make a real difference in the market. I know everybody says that, 

but we really are trying very hard to make that happen.” 

The company believes that Southeast Asia to Japan and Korea, 

as well as routes within Southeast Asia will be where the aircraft 

will be utilized the most, but the company is also hoping to pick up 

some longer routes as well, such as Singapore to Europe or the US. 

Initially the aircraft will be based in Hong Kong and will be available for 

charter across the region. Although the aircraft will (have) a floating 

base, eventually it will call Kuala Lumpur’s Subang Airport home, which 

Ollie Air’s Managing Director Chloe Heo says makes sense from an 

operational point of view, as it makes it easier for the aircraft to reach 

other locations across Southeast Asia to pick up passengers. 

Our interior is absolutely 

beautiful. Compared to all 

of the other aircraft that I’ve 

been on its one of the best 

interiors I have ever seen.” 

We think that it’s bringing excellent value to the market, because a 

lot of Global Express aircraft in the market are outdated, says Heo. 

Ollie Air’s expertly crafted cabin was designed to exude 

luxury and features a theme of warm neutral colors that flow 

effortlessly and logically throughout the cabin. The aircraft 

features as forward fully appointed gally along with flight 

attendant rest area, and a main cabin that is split into three 

distinct zones, which can seat up to 13 passengers during day, 

whilst at night can be configured with two beds in the main 

cabin and a further two beds in the aft area. 

The forward zone itself features club style seating for two, with a 

facing divan, whilst the second zone includes a full-size table with 

seating for four and a set a club style seating for a further four 

passengers. The third zone, with direct access to the aft lavatory, 

features a two-place divan, as well as a single luxury seat. 


OLLIE AIR 

Although the company launched with a single Global XRS, it says 

that in the future it will look at adding more aircraft, which could 

include aircraft smaller than the Global. 

“We do want to grow in the market, so we are starting with one 

aircraft, but let’s just say that we won’t be ending there,” says 

Heo. “It makes sense for us to have another Global Express, but 

we are exploring the market situation to see if maybe we can have 

some smaller aircraft as well.” 

For Ollie Air, luxury isn’t just the finer touches in the cabin, it 

isn’t just the finest food and wine expertly served on board by 

hand-picked flight attendants that are trained to the highest 

standards. It is about the whole experience, from start to end. 

So from the moment the first enquiry is taken to the moment the 

flight has been completed, Ollie Air promises to take care of all of 

the smaller details to ensure a seamless hassle free experience, 

because the ultimate luxury is knowing that everything is taken 

care of for you. 

The addition of more aircraft won’t come overnight, it will take 

time for the company to build up its reputation. But when they do 

come it will be testament to Ollie Air’s drive to bring luxury back 

to flying on a private jet. But it isn’t just luxury that Ollie Air is 

aiming for, it’s effortless luxury. 

“We want to make sure that when our clients get on our aircraft, 

they will experience the luxury,” says Heo, “But they won’t even 

know that there is a lot of effort going on in the background.” 

www.ollie-air.com 



SECOND QUARTER 2024 

I’m proud to present the Second Quarter IADA Market Report to you. 

The IADA Market Report is uniquely based on both quantitative sales 

data and the exclusive, on-the-ground perspective of IADA members 

— who buy and sell more aircraft by dollar volume than the rest of the 

world’s dealers combined. Our membership and survey participants 

include IADA Accredited Dealers, Certified Brokers, and Verified 

Products and Services Members, making IADA a true force in the 

industry. 

Importantly, the perspectives and projections of IADA Members have 

proved, over time, to be both prescient and trustworthy reflections of 

the current market and its future. 

Despite the combined effects of global turmoil, interest rates, 

inflation and the upcoming presidential election, I am pleased to 

report IADA Members’ optimism about the next six months. 

The marketplace is balanced. Sales are steady, and values remain 

strong with late model aircraft. 

I welcome your feedback. 

Onward and upward, 

WAYNE STARLING 

Executive Director, IADA 



BACKGROUND ON RESPONDENTS 

IADA Products and Services Members are part of our collective 

network and represent a breadth of members that provide 

comprehensive services, including transactions, operation, 

maintenance, insurance, and financing and leasing. Together, they 

offer a unique perspective on the current state of the industry as well 

as an informed point of view on projections for the next six months. 

CURRENT ROLE OF SURVEY RESPONDENTS 

CURRENT SALES MARKET OF SURVEY RESPONDENTS 

DEALER/BROKER 

FINANCE/LEASE PROVIDER 

INSURANCE PROVIDER 

ESCROW AGENT 

LEGAL/TRUST/TAX/TITLE 

PRE-OWNED AIRCRAFT SALES 

BOTH NEW AND 

PRE-OWNED AIRCRAFT SALES 

OPERATION 

MAINTENANCE 

MARKETS THAT MEMBERS DO BUSINESS IN 

99% of IADA dealers 

do business in 

NORTH AMERICA 



EUROPE 



ASIA AND PACIFIC 



LATIN AMERICA/CARIBBEAN 



AFRICA 



MIDDLE EAST 



ACTIVITY REPORTS 

With 58 participating dealers sharing their results for the April 

May-June time frame, IADA dealers reported 139 new acquisition 

agreements in Q2 2024, down 7% from Q1 2024 but up 9% year over 

year (YoY) compared with Q2 2023. While the number of exclusive 

retainer agreements stayed steady in Q2 2024 from the prior 

quarter, reduced-price listings were up 86 aircraft YoY through the 

first half of 2024. 

While seemingly significant, the 69% increase in reduced-price 

listings reported in the first half of 2024 YoY is measured from a 

relatively small base. As expected, price adjustments are a feature 

of today’s market as the resetting of value expectations continues 

after post-pandemic highs experienced in 2021 and 2022. 

Impressively, reported activity in Q2 2024 included 366 closed 

deals, up 20% YoY from Q2 2023. Closed deal activity in Q2 2024 

was the highest yet recorded for the second quarter since IADA’s 

Perspective Survey was initiated in 2020. Year to date in 2024, the 

620 closed deals reported were up 14% in volume compared with 

the first half of 2023, an indicator of a healthy level of exchange 

activity in a rebalancing marketplace — one in which IADA dealers 

are the preeminent players. 

IADA DEALER ACTIVITY REPORT 

Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 

NEW ACQUISITION AGREEMENTS 

139 

150 

126 

118 

128 

139 

IN Q2 2024 

RETAINED TO SELL EXCLUSIVELY 

204 

229 

216 

310 

304 

310 


LOWERED PRICE 

89 

76 

67 

73 

122 

122 


FELL APART 

71 

46 

52 

44 

55 

71 


UNDER CONTRACT 

251 

257 

262 

236 

319 

319 


CLOSED DEALS 

254 

324 

305 

366 

553 

366 


0 100 200 300 400 500 600 



IADA DEALER ACTIVITY YEAR TOTAL COMPARISON 

Q2 2024 YTD Q2 2023 YTD 2023 YEAR TOTAL 

NEW ACQUISITION 

AGREEMENTS 

289 

294 

538 

RETAINED TO 

SELL EXCLUSIVELY 

614 

413 846 

LOWERED PRICE 

211 

125 

268 

FELL APART 

117 

108 

204 

UNDER CONTRACT 

570 

442 

961 

CLOSED DEALS 

620 

544 

1,421 

TOTAL CLOSED DEALS BY QUARTER 


2023 

2022 

2021 2020 

553 

470 

501 

554 

253 239 

288 

213 

124 

366 

305 

310 

316 

174 

324 

331 

340 

283 

Q1 Q2 Q3 Q4 


IADA MEMBER INSIGHTS 

I think we have hit the summer lull early this year. We are 

all busy but not many transactions have actually occurred 

over the last few weeks/months. Our buyers have put 

projects on hold as there appears to be a delta between 

what a seller will take and what a buyer will offer. 

KYLE WAGMAN 

LEADING EDGE AVIATION SOLUTIONS, LLC // IADA ACCREDITED DEALER 

Business aviation continues to show that its value proposition 

is “for real.” North America has continued to come off its 

boil, but other international markets are starting to warm 

up to take advantage of the slack. Utilization numbers are 

still very strong, with fractional making particularly strong 

gains in that metric. Low-time, well-equipped, great-pedigree 

aircraft are still trading quickly and not easy to find. 

SHAWN DINNING 

DALLAS JET INTERNATIONAL // IADA ACCREDITED DEALER 

The year has been surprisingly more active than 

anticipated. The “wait and see” mentality appears 

to be delayed despite it being an election year 

and interest rates remaining unchanged. 

SCOTT OSHMAN 

OSHMAN AVIATION // IADA ACCREDITED DEALER 



GENERAL MARKET CONDITIONS 

At the conclusion of the second quarter of 2024, IADA members assess 

the global pre-owned business jet market with guarded optimism. 

A reduced sense of urgency persists among new and returning 

participants despite the scarcity of some models of aircraft. According 

to JETNET, only 127 such business jets were for sale worldwide 

through mid-July 2024. This represents less than .5% of the global fleet 

and under 7% of the available pre-owned business jets for sale. 

Several macroeconomic factors are contributing to ongoing 

uncertainty. These include geopolitical tensions, the divisive global 

election cycle, and persistent inflation/interest rate concerns. Most 

IADA members have been impacted by these headwinds but still view 

the current market as relatively healthy. 

In summary, demand for pre-owned business jets has remained resilient 

but tempered by more aircraft supply coming to market. We have also 

seen an increase in transaction times as buyers and sellers take more 

time to negotiation pre-purchase inspection findings. IADA members 

look forward to the second half of the year, as their cautiously optimistic 

outlook continues to define the landscape moving through 2024. 

WHO IS DRIVING TODAY’S MARKET 

Based on survey responses where participants chose from a 1-5 scale, where 1 indicates sellers and 5 indicates buyers. 

Q2 2024 

3.23 

Q1 2024 

3.20 

Q4 2023 

3.33 

Q3 2023 

3.07 

Q2 2023 

3.14 

Q1 2023 

3.12 

1 2 3 4 5 

SELLERS 

BUYERS 

OVERALL MARKET CONDITIONS | Q1 YEAR OVER YEAR 

Q1 YEAR OVER YEAR 

On a 1-5 scale, with 1 meaning “worst ever” and 5 meaning “best ever” 

What is your assessment of the current 


3.1 

business aircraft sales market? 


3.8 

What is your six-month projection for the 


3.1 

business aircraft sales market? 


3.6 



2.8 

business aircraft finance/leasing market? 


3.3 



2.8 

business aircraft insurance market? 


3.3 



CURRENT MARKET 

ASSESSMENT OF THE CURRENT BUSINESS AIRCRAFT SALES MARKET 


BEST EVER 

5 

4 

3.8 

NORMAL 

3 

3.1 

3.3 

3.2 

3.3 

2 

WORST EVER 

1 


SALES 

6-MONTH PROJECTION FOR THE AIRCRAFT SALES MARKET 


BEST EVER 

5 

4 

3.6 

NORMAL 

3 

3.1 

3.1 

3 

3 

2 

WORST EVER 

1 




FINANCE/LEASING 

6-MONTH PROJECTION FOR THE AIRCRAFT FINANCE/LEASING MARKET 


BEST EVER 

5 

4 

3.3 

NORMAL 

3 

2.8 

2.9 

2.7 

2.6 

2 

WORST EVER 

1 


INSURANCE 

6-MONTH PROJECTION FOR THE AIRCRAFT INSURANCE MARKET 


BEST EVER 

5 

4 

3.3 

NORMAL 

3 

2.8 

2.7 

2.6 

2.5 

2 

WORST EVER 

1 




6-MONTH MARKET SECTOR OUTLOOK 

Two-thirds of respondents predict that pricing and demand for Large 

and Ultra-Long-Range Jets will decline while supply will increase over 

the next six months, continuing a trend noted in the last quarterly 

report. Price and demand softening are generally expected to be more 

pronounced for larger aircraft. Half of respondents expect stability 

in price and supply within the pre-owned Turboprop segment, where 

PRICING PROJECTIONS FOR THE NEXT 6 MONTHS 

On a 1-5 scale, with 1 meaning “significant decrease” and 5 meaning “significant increase” 

dealer inventory willingness remains highest. Most respondents 

anticipate stable demand in the Turboprop and Light Jet segments for 

the next six months, though opinions vary more for midsize and larger 

jets. Overall, the demand outlook for the next six months has remained 

relatively stable compared with the Q1 2024 survey. 

PRICING 

TURBOPROP 

LIGHT JET 

MIDSIZE JET 

LARGE JET+ 

5 

SIGNIFICANT 

INCREASE 

0% 

0% 0% 0% 

4 

SLIGHT 

INCREASE 

6% 

3% 10% 

4% 

24% 25% 

3 

STABLE 

58% 

37% 

2 

SLIGHT 

DECREASE 

35% 

59% 60% 57% 

1 

SIGNIFICANT 

DECREASE 

0% 

1% 

6% 

13% 

PRICING PROJECTIONS OVER THE LAST YEAR, BY QUARTER 

All averages fall between 2 (“slight decrease”) and 4 (“slight increase”). 

Q2 '23 Q3 '23 Q4 '23 Q1'24 Q2 '24 

4 

SLIGHT 

INCREASE 

TURBOPROP 

LIGHT JET 

3 

STABLE 

MIDSIZE JET 

2.7 

2 

SLIGHT 

DECREASE 

2.4 

2.4 

2.2 

LARGE & 

ULTRA - LONG - 

RANGE JET 



SUPPLY 

SUPPLY PROJECTIONS FOR THE NEXT 6 MONTHS 


TURBOPROP 

LIGHT JET 

MIDSIZE JET 

LARGE JET+ 

5 

SIGNIFICANT 

INCREASE 

0% 

3% 

7% 

12% 

4 

SLIGHT 

INCREASE 

48% 66% 65% 58% 

25% 

20% 

23% 

3 

STABLE 

47% 

2 

SLIGHT 

DECREASE 

5% 

6% 

7% 

8% 

1 

SIGNIFICANT 

DECREASE 

0% 

0% 0% 0% 

SUPPLY PROJECTIONS OVER THE LAST YEAR, BY QUARTER 


4 

SLIGHT 

INCREASE 

Q2 '23 Q3 '23 Q4 '23 Q1'24 Q2 '24 

3.7 

3.7 

3.7 

TURBOPROP 

3.4 

LIGHT JET 

3 

STABLE 

MIDSIZE JET 

2 

SLIGHT 

DECREASE 

LARGE & 


RANGE JET 


WILLINGNESS TO INVENTORY PROJECTIONS FOR THE NEXT 6 MONTHS 



WILLINGNESS TO INVENTORY 

TURBOPROP LIGHT JET 

MIDSIZE JET LARGE JET+ 

5 

SIGNIFICANT 

INCREASE 

0% 

2% 

0% 

0% 

4 

SLIGHT 

INCREASE 

15% 

18% 

17% 

12% 

3 

STABLE 

56% 45% 42% 40% 

2 

SLIGHT 

DECREASE 

26% 

31% 33% 

37% 

1 

SIGNIFICANT 

DECREASE 

4% 

4% 

8% 

12% 

WILLINGNESS TO INVENTORY PROJECTIONS OVER THE LAST YEAR, BY QUARTER 


Q2 '23 Q3 '23 Q4 '23 Q1 '24 Q2 '24 

4 

SLIGHT 

INCREASE 

TURBOPROP 

LIGHT JET 

3 

STABLE 

2.8 

2.8 

2.7 

MIDSIZE JET 

2.5 

2 

SLIGHT 

DECREASE 

LARGE & 


RANGE JET 



DEMAND 

DEMAND PROJECTIONS FOR THE NEXT 6 MONTHS 


TURBOPROP 

LIGHT JET 

MIDSIZE JET 

LARGE JET+ 

5 

SIGNIFICANT 

INCREASE 

0% 

2% 

3% 

0% 

4 

SLIGHT 

INCREASE 

24% 

27% 

24% 28% 

3 

STABLE 

67% 50% 44% 36% 

2 

SLIGHT 

DECREASE 

10% 

20% 

27% 

31% 

1 

SIGNIFICANT 

DECREASE 

0% 

2% 2% 5% 

DEMAND PROJECTIONS OVER THE LAST YEAR, BY QUARTER 


Q2 '23 Q3 '23 Q4 '23 Q1 '24 Q2 '24 

4 

SLIGHT 

INCREASE 

TURBOPROP 

3 

STABLE 

3.1 

3.1 

3.0 

2.9 

LIGHT JET 

MIDSIZE JET 

2 

SLIGHT 

DECREASE 

LARGE & 


RANGE JET 


CONCLUDING THOUGHTS 

In Q2 2024, “rebalancing” continued as additional 

quality pre-owned inventory continued to come to 

market. This is in line with a measured ramp-up 

in new aircraft production. Trade-ins associated 

with new aircraft deliveries should provide 

exceptionally well-pedigreed aircraft for the 

consideration of would-be buyers, particularly 

those at the top of the market where production 

ramp-up with newly certified models, including the 

Gulfstream G700 and Falcon 6X, is underway. 

As we look forward into the second half of 

2024, additional pre-owned aircraft supply and 

somewhat lower prices should help to maintain 

retail transaction volume momentum of at or near 

recent rates. Manufacturer backlogs have stayed 

relatively steady at about two years of production, 

while potential buyers continue to be attracted by 

near-new aircraft. One of the questions mentioned 

is whether or not the new aircraft can be produced 

in time to meet the demand of this buying cycle. 

In this dynamic marketplace, IADA brokers and 

dealers are expert at raising the bar with trusted 

counsel in support of buyers and sellers. Sifting 

through the proverbial haystack of choices facing 

decision-makers on both sides of the table, they 

differentiate themselves through the art, science 

and passion of their profession. 



GLOBAL 

PRE-OWNED 

MARKET UPDATE 

Andrew Young, AMSTAT General Manager said, “The steady reduction in business aircraft median values since early 2023 and increased 

preowned market choices seems to have spurred buyer interest so far this year with the first half of 2024 seeing nice increase in 

transaction activity over the first six months of 2023”. 


GLOBAL PRE-OWNED MARKET UPDATE 

AMSTAT has released an update on the preowned business 

aircraft market, utilizing data from their Premier+ and Aircraft 

Valuation Tool services. In Q2 2024, transactions increased by 

14% compared to Q2 2023, a level 10% ahead of the Q2 fiveyear 

average. Year-to-date, there have been 6% more preowned 

transactions than in the first half of 2023. The inventory of 

preowned aircraft rose by 24% year-over-year, nearing the 10-year 

average. With higher supply and reduced demand, the market 

is witnessing a drop in aircraft values. The median value of 

business aircraft has fallen by 18% from Q2 2023 and by 12% 

since the start of the year. 

BUSINESS JETS - RESALE RETAIL TRANSACTIONS 

2022 2023 2024 

500 

400 

300 

The transaction count for preowned business jets in Q2 2024 

Pending final Q1 2024 data, the preowned business jets 

was 15% higher than in Q2 2023 and 9% above the Q2 5-year 

transaction count for Q1 2024 was 4% lower than Q1 2023 

average. and 11% The below year-to-date the 5-year transaction average. count has increased by 

7% compared to the previous year and is in line with the 5-year 

average for the first six months of each year. 

200 

100 

0 

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 

BUSINESS TURBOPROPS - RESALE RETAIL TRANSACTIONS 

2022 2023 2024 

250 

200 

150 

The transaction count for preowned business turboprops in Q2 

2024 was 11% higher than in Q2 2023 and 9% ahead of the Q2 

5-year average. The year-to-date transaction count has increased 

The preowned business turboprop transaction count for Q1 2024 

by was 5% 2% compared ahead of to Q1 the 2023 previous and 10% year below but the remains 5-year slightly average. below 

the 5-year average for the first six months of the year. 

100 

50 

0 

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 

BUSINESS JETS & TURBOPROPS FOR SALE / LEASE 

Jets 

2,000 

1,800 

Turboprop 

The inventory of preowned 

business jets for sale has 

increased by 23% year-over- 

1,600 

year, with 7% of the active 

1,400 

1,200 

1,000 

fleet available, compared to 

the 10-year average of 9%. 

Similarly, the inventory of 

preowned turboprops for sale 

800 

has risen by 24% year-over- 

600 

400 

Jul 

2023 

Aug 

Sep 

Oct 

Nov 

Dec 

Jan 


Feb 

Mar 

Apr 

May 

Jun 

Jul 

year, with 5% of the active 

fleet available, compared to 

the 10-year average of 6%. 



HEAVY JETS - SHORT TERM MEDIAN VALUE CHANGE 

5% 

Increase Decrease Total 

0% 

-5% 

-10% 

-15% 

-20% 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

Dec15 

Dec1 

Nov15 

Nov1 

Oct15 

Oct1 

Sep15 

Sep1 

Aug15 

Aug1 

Jul15 

Jul1 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

Year-over-year, the median value of preowned Heavy Jets has 

dropped by 15%, with a 10% decrease since the beginning of the 

year. In Q2 2024, Heavy Jet resale retail transactions increased 

by 34% from Q2 2024, exceeding the five-year Q2 average by 17%. 

Year-to-date, the transaction count is up 20% compared to the 

previous year and 11% ahead of the 5-year average for the first 

half of the year. The availability of preowned Heavy Jets has risen 

by 21% year-over-year, with 7% of the active fleet on the market, 

slightly below the 10-year average of 8%. The preowned Heavy 

Jet market is seeing continued strong demand, with increasing 

inventory offering buyers more choices at reduced median values. 

SUPER-MID JETS - SHORT TERM MEDIAN VALUE CHANGE 

10% 


5% 

0% 

-5% 

-10% 

-15% 

-20% 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

Dec15 

Dec1 

Nov15 

Nov1 

Oct15 

Oct1 

Sep15 

Sep1 

Aug15 

Aug1 

Jul15 

Jul1 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

The median value of preowned Super-Mid Jets has significantly 

declined by 22% year-over-year and is down 11% year-to-date. 

Transaction activity in Q2 2024 was 10% higher than in Q2 2023, 

and the first half of the year saw a 24% increase in transactions 

compared to the first six months of 2023. The availability of 

preowned Super-Mid Jets has surged by 40% year-over-year and 

29% since the beginning of the year. Currently, 7% of the Super- 

Mid Jet fleet is listed for resale, aligning with the 10-year average. 

The preowned Super-Mid Jet market is currently characterized by 

sustained higher-than-average transactions, a growing inventory 

that has seen year-over-year growth ahead of any of its peers, and 

persistently declining median values. 



MEDIUM JETS - SHORT TERM MEDIAN VALUE CHANGE 

15% 


10% 

5% 

0% 

-5% 

-10% 

-15% 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

Dec15 

Dec1 

Nov15 

Nov1 

Oct15 

Oct1 

Sep15 

Sep1 

Aug15 

Aug1 

Jul15 

Jul1 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

The median value of preowned Medium Jets has decreased by 20% 

compared to last year and has dropped by 11% since the beginning 

of the year. In Q2 2024, the number of preowned transactions was 

10% higher than in Q2 2023 but 5% below the five-year average 

for the second quarter. Year-to-date transaction activity in this 

segment is up 8% over 2023 but 10% lower than the 5-year average 

for the first six months of each year. The availability of Medium 

Jets has increased by 16% year-over-year, with 7% of the fleet 

currently on the market, slightly below the 10-year average of 9%. 

In summary, the preowned Medium Jet market is seeing steadier 

transaction activity ahead year-over-year but below average, 

growing inventory levels, and a downward trend in median values. 

LIGHT JETS - SHORT TERM MEDIAN VALUE CHANGE 

20% 


15% 

10% 

5% 

0% 

-5% 

-10% 

-15% 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

Dec15 

Dec1 

Nov15 

Nov1 

Oct15 

Oct1 

Sep15 

Sep1 

Aug15 

Aug1 

Jul15 

Jul1 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

In the preowned light jet segment, the median value has notably 

decreased by 21% year-over-year and by 15% year-to-date. Resale 

transactions in Q2 2024 increased by 10% compared to Q2 2023, 

exceeding the Q2 5-year average by 14%. Year-to-date transaction 

activity was 3% below the first half of 2023 and 1% below the 

5-year average for the first six months of the year. The available 

inventory has risen by 21% year-over-year, with 8% of the fleet 

currently for sale, which is below the 10-year average of 10%. 

In summary, the preowned light jet market is the only preowned 

business jet market that saw fewer transactions in the first half of 

2024 compared to 2023, this coupled with a substantial increase 

in inventory has continued to put downward pressure on values. 



TURBOPROPS - SHORT TERM MEDIAN VALUE CHANGE 

20% 


15% 

10% 

5% 

0% 

-5% 

-10% 

-15% 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

Dec15 

Dec1 

Nov15 

Nov1 

Oct15 

Oct1 

Sep15 

Sep1 

Aug15 

Aug1 

Jul15 

Jul1 

Jun15 

Jun1 

May15 

May1 

Apr15 

Apr1 

Mar15 

Mar1 

Feb15 

Feb1 

Jan15 

Jan1 

The median value of preowned Turboprops has decreased by 13% 

year-over-year and by 14% year-to-date. In Q2 2024, preowned 

transactions increased by 11% compared to Q2 2023, with the first 

six months exceeding the same period in 2023 by 5%. Preowned 

inventory is up 28% year-over-year and 13% year-to-date. Currently, 

5% of the fleet is for sale, compared to the 10-year average of 7%. 

As with other market segments, the preowned Turboprop market 

is currently experiencing good transaction activity, increasing 

inventory, and declining values. 

Data Source: AMSTAT 

Commentary by Andrew Young 

IMPORTANT NOTE: The chart above uses aggregated data. The changes in values this year within individual make and model markets, and for specific serial numbers, may vary to a 

greater or lesser degree from these trends. 


GLOBAL 

BUSINESS 

AVIATION 

MARKET 

UPDATE 

By Global Jet Capital 

Flight operations declined and inventory levels increased 

year-over-year. The economy also faced a variety of factors 

impacting growth. Despite these challenges, the business 

jet market remained resilient. Transactions stabilized after 

declines in Q1, OEMs reported strong order intake and modest 

backlog growth, flight operations remained above pre- 

COVID-19 levels, and inventory remained low—especially for 

younger, more desirable aircraft. As things stand, the industry 

is well positioned to weather any future economic downturn. 

• The global economy continues to grow, and central banks 

have begun to discuss interest rate cuts. 

• Flight operations declined 2 percent year-over-year in Q2 

2024 but were 6 percent higher than Q1 and 14 percent 

above Q2 2019 pre-COVID-19 levels, reflecting an enduring 

expansion in the user base for business aviation. 

• OEM book-to-bill ratios were 1:1 in Q2 and there was a 28 

percent year-over-year increase in revenue. 

• Transactions were stable through the end of Q2 2024 as 

OEMs continued to work towards resolving supply chain 

and labor constraints and activity began to pick up in the 

pre-owned market. 

• Total aircraft inventory increased in Q2, driven by older 

aircraft. Younger aircraft remained in demand; therefore 

inventory of younger aircraft was more stable. 

• Most aircraft models continued to experience depreciation 

in line with historical norms during Q2 2024. However, 

younger aircraft were more stable than older aircraft. 


GLOBAL BUSINESS AVIATION MARKET UPDATE 

GLOBAL ECONOMY 

Global GDP Percent Change 

3.5% 

3.0% 

2.5% 

2.0% 

1.5% 

1.0% 

0.5% 

0.0% 

Q2 2022 Q3 2022 Q4 2022 

Q1 2023 

Q2 2023 Q3 2023 Q4 2023 Q1 2024 


i 

Economic growth is expected to slow slightly from a surprisingly 

strong 2023. ii Many of the headwinds that affected the economy in 

2023 remain, including the conflicts in Ukraine and Israel/Gaza, as 

well as high interest rates. Other factors that may negatively affect 

economic growth in 2024 include continued de-globalization, trade 

conflicts, major elections in countries making up 38.1 percent of 

global GDP, and structural growth challenges in China. iii 

Most economists do not expect a recession in 2024 and point to 

several strong points in the global economy. Central banks are 

now comfortable with inflation levels and have begun to discuss 

lowering interest rates. The European Central Bank lowered rates in 

Q2 and others iv , including the U.S. Federal Reserve v , are expected to 

lower rates this year. Other notable tailwinds include strengthening 

economies in East Asia, South Asia, and Central America, recovery in 

the Eurozone from slow growth at the end of 2023, and resilience in 

China despite the challenges mentioned above. vi As such, the global 

economy is expected to remain stable for the remainder of 2024. vii 

FLIGHT OPERATIONS 

Global Business Jet Flights Operations 

North America 

Rest of World 

981,525 

24.0% 

946,572 

27.9% 

907,035 

23.5% 

877,689 

22.8% 

937,660 

25.5% 

920,319 

28.1% 

899,302 

23.4% 

861,210 

29.0% 

916,561 

30.6% 

76.0% 

72.1% 

76.5% 

77.2% 

74.5% 

71.9% 

76.6% 

71.0% 

69.4% 

Q2 2022 Q3 2022 Q4 2022 

Q1 2023 

Q2 2023 Q3 2023 Q4 2023 Q1 2024 


viii 

In Q2 2024, flight operations declined 2.3 percent from a year 

earlier, with declines evenly spread around the world. In the U.S. 

and Europe, continued normalization of usage drove declines while 

geopolitical threats drove declines in Europe, the Middle East, 

and Africa. Fractional operators remained the strongest segment 

in the market and continued to demonstrate modest growth and 

sustained demand. 

Even as departures declined year-over-year, flights increased 6.4 

percent from Q1 and demand remained above pre-COVID-19 levels. Q2 

2024 departures were 14 percent higher than in Q2 2019, continuing 

a trend that began in 2023 when departures were 15.1 percent higher 

than in 2019. In 2023 and early 2024, some passengers who utilized 

business jets in the post-COVID-19 recovery period returned to 

commercial airlines—a trend that was widely anticipated.ix However, 

due to the industry’s inherent value proposition – including personal 

safety, flexibility, productivity, and comfort – there has been a systemic 

expansion of the user base with a substantial proportion of these 

new users continuing to utilize business aviation in 2024. As such, 

flight operations were lower than the peak witnessed in 2022, but 

higher than pre-pandemic levels with steady and sustainable growth 

expected going forward. 



OEM BACKLOGS 

Backlog at Major Business Jet OEMs 

Gulfstream Bombardier Cessna Dassault Embraer 

$46,393 

$50,360 $51,219 

USD Millions 

$31,120 

Q2 2021 Q2 2022 Q2 2023 Q2 2024 

x 

OEM backlogs increased 1.7 percent year-over-year in Q2 2024 to 

$51.2 billion. While industry-wide orders in Q2 were lower than the 

highest levels of 2022, they were 6 percent above Q2 2023. Strong 

orders were driven by high demand for business jets and continued 

low inventory of young pre-owned aircraft. At the same time, revenues 

(largely driven by deliveries) increased 27.9 percent year-over-year. 

After years of slow increases, OEMs experienced strong revenue 

growth in Q2 2024 due to increased deliveries and strong service 

revenue. To be sure, OEMs still have work to do to fully resolve supply 

chain and labor constraints, but Q2 2024 results indicated that they 

were finally making progress toward increasing production rates. With 

revenue increasing at a faster rate than deliveries, the industry-wide 

book-to-bill ratio declined from 1.3:1 in Q1 to 1:1 in Q2. Going forward, 

OEMs expect book-to-bill ratios to remain around 1-to-1 in 2024. 

TRANSACTIONS ($ VOLUME) 

YTD Business Jet Transactions 

New Pre-Owned Total 

Volume 

$17.0B 

(1,736 Units) $13.2B 

(1,305 Units) 

$10.0B 

(1,442 Units) $6.6B 

$7.0B 

(294Units) 

(1,007 Units) 

$6.5B 

(298 Units) 

$14.8B 

(1,297 Units) 

$7.0B 

(993 Units) 

$7.7B 

(304 Units) 

Q2 2022 Q2 2023 Q2 2024 

YoY % Chg 

-6.7% 

18.4% 

6.2% 

12.3% 

-22.7% 

-33.8% 

Q2 2023 Q2 2024 

xi 

Note that Q2 2024 figures reflect preliminary data and may increase as more transactions are reported to the FAA and data providers. 

After declining in 2023 and early 2024, total transactions 

stabilized in Q2 2024 and increased when measured by dollar 

volume. Over the past few years, new deliveries were held back 

by supply chain and labor constraints following disruptions 

caused by the COVID-19 pandemic. New deliveries were also 

held back by delays in new aircraft certification. While OEMs 

continued to work towards resolving these issues, they were 

able to increase deliveries in Q2. With certification achieved 

for several new aircraft models, deliveries should continue to 

increase throughout 2024. 

The total number of pre-owned transactions was down year-overyear 

through the end of Q2. Transaction volume was hampered 

by economic uncertainty (despite stronger than expected GDP 

growth) as well as inertia between sellers looking to maintain postpandemic 

value gains and buyers waiting for values to return closer 

to historical levels. However, the market began to show signs of 

picking up. There was a high degree of activity early in the year that 

began to translate into sales as the market returned to its historical 

level of liquidity. Newly certified models making their way into 

service later this year may result in incremental supply of desirable 

aircraft, driving up transactions through the remainder of the year. 



FOR SALE INVENTORY 

Aircraft Listed for Sale 

1,293 

1,420 

2023 2024 

xii 

Continuing a trend that started in the latter half of 2022, aircraft 

listings increased in Q2 2024. Although the trend has remained 

consistent, its underlying causes have shifted over time. During 

the post-pandemic period of rapid growth, many transactions 

involved unlisted aircraft which artificially lowered public listings 

and inventory. As the market normalized in late 2022 and 2023, 

listings increased. In 2024, the increase in aircraft listings has 

been driven by listings of older aircraft. Through the end of 

Q2, listings of 13-year-old and older aircraft rose 11.9 percent, 

compared to 5.1 percent for 12-year-old and younger aircraft. 

With the increase, aircraft 13 years old and older represented 71 

percent of all listings. 

Percent of Business Jet Fleet for Sale 

Total 

0-12 Years 

13+ Years 

10.0% 

8.0% 

6.0% 

4.0% 

2.0% 

0.0% 

Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 


xiii 

Inventory levels ended Q2 2024 at 7.7 percent of the total fleet. 

Inventory levels were higher than historical lows reached in 

2022 but still below average levels of approximately 10 percent 

over the last decade. As with aircraft listings, the increase 

in inventory was largely driven by older aircraft. Inventory of 

12-year-old and newer aircraft increased 5.3 percent YTD and 

ended Q2 at 5.2 percent of the fleet, while inventory of older 

aircraft increased 14.6 percent YTD and ended the quarter at 9 

percent of the fleet. 

Inventory is expected to continue to increase for the balance 

of 2024 due to additional listings of older aircraft. However, 

continued demand for newer, high-quality aircraft should keep 

overall inventory numbers relatively consistent in the near term. 



RESIDUAL VALUE 

YoY % Change in Values 

0-12 Years 13+ Years Total 

-2.9% 

-0.2% 

-4.1% 

-1.1% 

-3.5% 

-0.6% 

23.5% 

50.0% 

29.3% 

28.7% 

67.6% 

37.2% 

21.4% 

58.1% 

29.5% 

14.5% 

39.9% 

20.9% 

8.1% 

21.4% 

11.5% 

3.9% 

7.4% 

4.8% 

0.8% 

0.2% 

0.5% 

Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 


xiv 

The above chart compares the year-over-year percentage change in 

the bluebook value of like-aged aircraft over time (e.g., the difference 

between the value of an eight-year-old aircraft from one year to the 

next). Global Jet Capital analyzes a basket of aircraft as a proxy 

for the overall market. Values vary on a model-by-model basis 

and observed increases or decreases in value are not necessarily 

applicable to any specific aircraft make/model. For the value of a 

specific aircraft, please contact a licensed aircraft appraiser. 

As inventory increased in 2023 and 2024, price negotiations between 

buyers and sellers became more balanced than in the post-COVID-19 

recovery period. As a result, average business jet bluebook values 

declined 0.6 percent in Q2 2024 compared to Q2 2023. 

The changes in value varied across the installed base. As mentioned 

above, inventory of 12-year-old and younger aircraft increased at a 

slower rate than older aircraft in 2024. As a result, values for these 

younger aircraft remained stable in Q2 2024, rising 0.5 percent 

compared to Q2 2023. On the other hand, the supply of 13-year-old 

and older aircraft increased at a much faster rate, causing values to 

decline 3.5 percent year-over-year. 

The relatively strong values of younger aircraft compared to older 

aircraft are a return to pre-COVID-19 trends. In the earlier postpandemic 

period, values of older aircraft outperformed younger 

aircraft as many buyers chose to acquire older aircraft during the peak 

of the market in the absence of alternatives. As the market normalized 

in 2023 and 2024, values of younger aircraft performed better. 

It is worth noting that business jets are depreciating assets and a 

steady decline in the price of an aircraft over its lifespan is to be 

expected. The consensus among industry players is that supply and 

demand are well-balanced now and should support stable aircraft 

values in the near future. 

CONCLUSION 

In Q2 2024, the business jet market continued to normalize from a 

period of rapid growth following the COVID-19 pandemic. 

Flight operations slowed from all-time highs but remained above 

pre-COVID-19 levels. Transactions stabilized in the quarter after a 

period of declines. Inventory and values have experienced a shift 

over the past few quarters. During the post-COVID expansion, older 

aircraft became very popular due to their wide availability. However, 

as the market normalized, demand for these aircraft declined. As a 

result, aircraft listings and inventory for aircraft older than 12 years 

increased, while values for this segment declined. At the same 

time, inventories for 12-year-old and younger aircraft increased at a 

much slower rate and values were stable. OEMs continued to report 

strong order intake and modestly rising backlogs. As a result, the 

business jet market remained resilient and is expected to remain 

active in the second half of 2024. 

Notes 

i 

Oxford Economics, ii Wells Fargo, iii Wells Fargo, iv Wells Fargo, v Wells Fargo, vi Wells Fargo, vii Wells Fargo, viii WingX and Global Jet Capital Analysis ix AIN, x Company financial reports , 

xi 

JetNet and Global Jet Capital Analysis. Units are in parentheses., xii Amstat and Global Jet Capital Analysis, xiii JetNet and Global Jet Capital Analysis, xiv Aircraft Bluebook and Global Jet 

Capital Analysis 


MARKET SPOTLIGHT: 


By Dennis Lau 

When Eurocopter (now Airbus Helicopters) unveiled its all new EC175 helicopter at Heli-Expo 2008, it also 

launched a whole new helicopter category – the “Super Medium”. Rival AgustaWestland (now Leonardo) 

announced the competing AW189 at the 2011 Paris Air Show, while Bell announced its 525 model just 

one year later. Some 10 years since the “Super Medium” entered service, the overall fleet size and market 

penetration have been below expectation. However, there are new opportunities for this class of helicopter, 

especially in Asia-Pacific. 


MARKET SPOTLIGHT 

GLOBAL SUPER MEDIUM HELICOPTER FLEET 

the Helionix avionics. The type entered commercial service in 

December 2014 with Noordzee Helikopters Vlaanderen (NHV) 

supporting oil and gas operations in the North Sea. 

H175 (40.0%) 

AW189 (60.0%) 

The competing 8-ton AW189 was developed from the successful 

AW139 medium twin and is part of a family concept which also 

includes the smaller AW169. All share a common cockpit, humanmachine 

interface and design features such as rotor architecture, 

flat and unobstructed cabin, wide access sliding doors. 

Source: ASG Helicopter Database 

The EC175, later renamed the H175 in line with Airbus Helicopters’ 

redesignation of its helicopter programs, is a 7.8-ton class, 12-18 seat 

twin-engine helicopter. It is designed to fill the gap between traditional 

medium helicopters such as the Sikorsky S-76 / Leonardo AW139 and 

heavy helicopters such as the Sikorsky S-92 / Airbus EC225/H225. 

With that size segment, the H175 is primarily aimed at the offshore oil 

and gas support sector, offering a newer technology and potentially 

lower cost option to supplement and replace existing types. 

The H175 is jointly developed with The Aviation Industry Corporation 

of China (AVIC), which would offer the domestically produced AC352 

to the local Chinese market. There are some differences between 

the two variants, most notably the choice of powerplants. The H175 

is powered by the Pratt & Whitney Canada PT6C-67E, while the 

AC352 has the Turbomeca Ardiden 3C/WZ16, which was specifically 

developed by a joint partnership between Turbomeca and Aero 

Engine Corporation of China (AECC). 

Although the AC352 has received production certification from the 

Chinese authorities, the program has been delayed by performance 

and reliability issues and first customer deliveries are not expected to 

take place until the second half of 2026 at the earliest. 

EASA certification of the H175 was received in January 2014 after 

a delay of more than two years, due to integration issues with 

Following its launch in June 2011, the first prototype of the 

AW189 successfully completed its maiden flight, ahead of 

schedule, in December 2011. EASA certification was received in 

February 2014 and first delivery was made in April of that year. 

The AW189 began operations in the offshore sector in July 2014, 

flown by Bristow in the UK, effectively becoming the first Super 

Medium type to enter service. 

A “hot-and-high” version of the AW189 – the AW189K was launched 

in 2017, which is powered by the Safran Aneto 1K engine instead of 

the General Electric CT7-2E1on the standard version. 

Bell launched the 525 Relentless in 2012, the largest offering 

from the OEM to date and again aimed at the offshore sector. It is 

also the largest among the Super Medium types with a maximum 

take-off weight of 9.3 tons and can carry up to 20 passengers. 

Development and certification has been set back by numerous 

delays, and first deliveries are not expected until 2026 at the 

earliest, some 11 years after the Bell 525’s first flight. Norwegian 

petroleum refiner Equinor is the launch customer and will deploy 

the type to support its North Sea operations. Equinor has also 

ordered five AW189s. 

The Super Medium category has been in service for ten years, but 

market penetration has been weaker than expected. At the end of 

Q2 2024, there were 145 Super Mediums in civil and government 

service worldwide, excluding pure military use examples. The fleet 

comprised 87 AW189s and 58 H175s. A further 45 AW189s and one 

H175 were flown by military operators. 



Super Medium Fleet by Base Region 

AW189 

H175 

50 

40 

30 

20 

10 

0 

APAC Europe Latin & South 

America 


CIS Africa Middle East North America 

Asia-Pacific had the largest based fleet of Super Mediums at the 

end of Q2 2024 with a fleet of 46, followed by Europe with 40 and 

Latin and South America with 18. There were no H175s based in 

the Middle East or North America. 

GLOBAL SUPER MEDIUM FLEET BY MISSION 

Law Enforcement (7.0%) 

Multi-Mission (1.0%) 

VIP (7.0%) 

SAR (24.0%) 

Offshore (61.0%) 


Over 60% of the Super Medium Fleet was deployed in offshore oil and 

gas support missions, with around one-quarter in search and rescue 

(SAR). Super Mediums were also flown in the VIP, law enforcement 

and multi-mission sectors. 

While the majority of the fleet was operated in the offshore role, 

as intended by the OEMs, fleet penetration in that sector has been 

relatively weak. Both the AW189 and H175 arrived on the market at 

a time when the offshore oil and gas market was slowing down, and 

oil have remained remained relatively low since then. More recently, 

the COVID-19 pandemic contributed to a lower demand for fleet 

replacement and new growth opportunities in oil exploration. 

There were high expectations that offshore operators would move 

from the larger S-92s and H225s to the smaller, more efficient Super 

Mediums. However, the general reduction in demand for new 

offshore helicopters, together with the lowered costs of acquiring 

/ leasing / operating the heavy types may have offset the 

operational and cost efficiencies expected of the Super Mediums. 

Questions remain over how much demand there will be for Super 

Mediums in the offshore role, with a third offering – the Bell 525 

entering the market in a few years’ time. A significant change in 

the offshore oil and gas market dynamics is necessary before 

a notable increase in Super Medium demand will be triggered. 

Sustained higher oil prices, which would drive economically viable 

increasing in exploration of deepwater fields, could be a major 

contributor. However, the increasing emphasis on sustainability is 

also encouraging a reduced reliance on fossil fuels, which would 

negatively affect the long-term prospects of the oil and gas industry. 

The Super Mediums have also been deployed in other missions 

outside of oil and gas support, notably in search and rescue (SAR) 

with seven H175s and 27 AW189s at the end of Q2 2024. There 

were 10 Super Mediums operating in VIP transport and a further 

10 in law enforcement. These non-oil and gas sectors could 

become demand drivers for Super Mediums in the coming years, 

and helicopter OEMs and lessors are now placing more emphasis 

on developing these markets. 

The 46 Super Medium helicopters based in the Asia-Pacific region 

at the end of Q2 2024 comprised 26 AW189s and 20 H175s, with 

China and Malaysia having nine units based, Hong Kong with 

seven and Australia and Thailand with six each. 



Base Location H175 AW189 TOTAL 

China 1 8 9 

Malaysia 6 3 9 

Hong Kong 7 - 7 

Australia 4 2 6 

Thailand 2 4 6 

Japan - 3 3 

Vietnam - 3 3 

Indonesia - 2 2 

South Korea - 1 1 


China’s Ministry of Transport (MOT) is the largest Super Medium 

operator in China with six SAR configured AW189s, flown by 

China Rescue. Two AW189s serve with the China Police in the 

law enforcement role. The first H175 delivered to China was a 

VIP configured example operated by CITIC COHC. 

There were nine Super Mediums based in Malaysia at the end of 

Q2 2024, including three AW189s operated by Weststar Aviation 

Services and the Fire Department of Malaysia. Weststar also 

had three AW189s deployed in Africa to support local oil and gas 

contracts. The six Malaysia-based H175s were operated in the 

offshore and VIP roles by Hornbill Skyways, HAS International 

and MHS Aviation. 

Super Medium helicopters already fly a good mix of missions 

across the Asia-Pacific region, with more deliveries to new 

operators planned for 2024 and beyond. China Rescue’s first 

two SAR H175s have been completed and will be delivered 

soon, to operate alongside its AW189s and other existing types. 

PHI International Australia will also take delivery of its first 

two offshore-fitted H175s shortly. Back in March 2024, China’s 

SKYCO International Financial Leasing signed a contract for six 

H175s, to be deployed on SAR and other related missions. The 

Malaysian Maritime Enforcement Agency (MMEA) will introduce 

three AW189s in law enforcement and SAR roles. Introduction of 

the Chinese-built AC352 later in the decade will also boost the 

Super Medium fleet size in Asia-Pacific. 

Hong Kong’s Government Flying Service (GFS) was the launch 

customer of the SAR version of the H175, which replaced its 

ageing AS332 Super Pumas and EC155s. The seven GFS H175s 

are flown on a variety of missions including SAR, firefighting and 

law enforcement. 

The six Australia-based Super Mediums were all deployed in the 

offshore support role and comprised four H175s with Offshore 

Services Australasia (Babcock) and two AW189s with CHC 

Helicopters Australia. Thailand was the first country in Asia-Pacific 

to introduce a law enforcement equipped Super Medium and now 

has six in operation with the Royal Thai Police – two H175s and 

four AW189s. These helicopters are also used in VIP transportation 

missions. The Indonesian National Police was another Super 

Medium law enforcement operator with a fleet of two AW189s. 

Elsewhere, both the AW189 and H175 have received new 

orders in 2024, mostly for the offshore and SAR markets from 

major operators and lessors such as PHI, Bristow, LCI and GD 

Helicopter Finance. The recent orders for Super Mediums have 

generated a much needed boost for this class of helicopter, and 

its presence is set to grow in Asia-Pacific. 

Two of the three AW189s based in Japan were operated by the 

Ministry of Land, Infrastructure, Transport and Tourism (MLIT) as 

multi-mission helicopters with surveying capabilities. The Tokyo 

Fire Department operated a single AW189 – one of the first to be 

fully equipped for firefighting missions. The Seoul Fire Department 

in South Korea also had a firefighting AW189 in its fleet. 


MARKET 

DYNAMICS 

BUSINESS JET AND 

CIVIL HELICOPTER 

PRE-OWNED MARKET 



MARKET DYNAMICS: BUSINESS JETS 

PRE-OWNED BUSINESS JETS MARKET Q2 2024 

GLOBAL INVENTORY VALUE (MILLION USD) 1, 2 

Corp. Airliner Long Range Large Medium Light 

10,000 

8,000 

6,000 

4,000 

2,000 

0 


APAC INVENTORY VALUE (MILLION USD) 1, 2 


1,000 

800 

600 

400 

200 

0 


The global inventory value continued to rise in the second quarter, 

reaching USD 9.45 billion by the end of Q2. This was the highest 

value in the last three years. Compared to the previous quarter, the 

inventory value increased by USD 547 million, an increase of 6.2%. 

The increase was even more significant, at 28.3%, compared to the 

same period last year. Long Range Jets represent the largest share of 

all categories, accounting for nearly half (48.2%) of the total inventory 

value. 

The Large Jets category was the only one to see a decrease in 

inventory value compared to the previous quarter, dropping by 

USD 90 million. The biggest change within this category was the 

Bombardier Challenger 650, which saw its inventory decrease by USD 

104 million. Five aircraft were sold in the second quarter, reducing 

the number for sale from six to three by the end of Q2. Additionally, 

its average asking price fell to USD 17.17 million. Except for Large 

Jets, the global Inventory value increased in all other categories 

compared to the previous quarter. The most notable increases were 

1. Asian Sky Group's Business Jet Inventory Value by size category is calculated by taking the total number of aircraft for sale from a selection of 44 models, multiplied by their average asking price. 

2. Historical inventory value and transactions are subject to change based on latest market information updates. 



in Light Jets (USD 219 million) and Corporate Airliners (USD 212 

million). The increase in Light Jets inventory was mainly due to a rise 

in the number of Citation CJ4 aircraft for sale, which reached 35 by 

the end of the second quarter. For Corporate Airliners, the increase 

in inventory value was largely attributed to the Airbus ACJ319, which 

had six aircraft for sale at the end of the second quarter, double the 

number from the end of the first quarter. 

The inventory value of Long Range Jets increased by USD 124 

million compared to the previous quarter, with the Gulfstream 

G650ER, Gulfstream G550, and Bombardier Global 7500 models 

seeing the largest changes within this category. Medium Jets 

had the smallest increase in inventory value, up USD 83 million 

compared to the previous quarter. The Citation Sovereign saw the 

largest change within the Medium Jets category, with seven new 

listings entering the market. 

In contrast to the global market, the aircraft inventory value in 

Asia-Pacific dropped to USD 794 million in June, after reaching 

an all-time high in May. This represents a decrease of USD 6.05 

million compared to the previous quarter. Among all categories, only 

Long Range Jets saw a decrease in inventory value compared to 

the previous period, declining by USD 61 million. Medium Jets and 

Large Jets increased by USD 33.17 million and USD 16.45 million, 

respectively. Light Jets saw a more modest increase of USD 4.95 

million. The inventory value of Corporate Airliners in Asia Pacific was 

unchanged from the previous quarter. 

AIRCRAFT TRANSACTIONS 2 WORLDWIDE 


200 

180 

160 

140 

120 

100 

80 

60 

40 

20 

0 

Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 

Global pre-owned aircraft transactions in the second quarter 

increased notably, with a total of 206 transactions, rising by 

48.2% compared to the previous quarter. Long Range Jets 

and Large Jets were the most actively traded, accounting for 

57.3% of the total transactions. Among the 60 Long Range Jets 

transactions, the Gulfstream G550 (17) and Bombardier Global 

6000 (8) were the biggest sellers. Large Jets saw 58 transactions, 

with the Legacy 600 (11), Gulfstream G450 (10), and Bombardier 

Challenger 604 (9) being the most numerous. Among Medium 

Jets, the Bombardier Challenger 300 (13) and Citation Sovereign 

(12) had the highest transaction volumes. For Light Jets, the 

Citation CJ3 (16) and Phenom 300 (16) were the main contributors 

to the transaction activity. It is worth noting that all four 

Corporate Airliner transactions were for the BBJ model. 



% OF FLEET FOR SALE 

Corp. Airliner Long Range Large Medium Light APAC 

8% 

7% 

6% 

5% 

4% 

3% 

2% 

1% 

0 


The global pre-owned aircraft market saw a relatively fast increase 

in the percentage of aircraft available for sale during the second 

quarter, rising from 5.4% in the previous quarter to 5.9%. This 

represents a more significant increase compared to the 4.7% in Q2 

2023 and surpassed the October 2023 peak, making it the highest 

percentage of aircraft for sale in three years. The number of aircraft 

for sale increased from 524 in the first quarter to 579. 

Corporate Airliners and Large Jets had the highest percentage 

of aircraft for sale at 7.3% and 7.2% respectively, while Light Jets 

had the lowest at 5.2%. In Asia-Pacific, the percentage of aircraft 

available for sale remained above the global average, rising from 

6.0% in the previous quarter to 6.9%. The number of aircraft for sale 

in Asia-Pacific also increased to 41. 

AVERAGE DAYS ON MARKET 

Corp. Airliner Long Range Large Medium Light APAC 

700 

600 

500 

400 

300 

200 

100 

0 


In the second quarter, the global average Days on Market of business 

jets for all size categories remained relatively stable compared to 

the previous quarter. The average Days on Market saw a decrease in 

only one category - Corporate Airliners. The Days on Market for this 

category fell from 454 days in the previous quarter to 302 days. The 

other aircraft categories experienced small increases in their average 

Days on Market, with the largest increase in the Large Jets category, 

which added 17 days from the previous quarter. In the Asia-Pacific 

region, the average Days on Market for business jets increased 

slightly from 183 days in the first quarter to 197 days in Q2. 



SUPPLY / DEMAND INDICATORS 

BUSINESS JETS 


SUPPLY VS. DEMAND RATIO 


SUPPLY 

> DEMAND 

DAYS ON MARKET 

AVERAGE 

% OF FLEET 

FOR SALE 

MODEL 

AVERAGE 

NO TRANSACTION 11.1% 

ACJ318 

8.0% 

ACJ319 

7.7% 

ACJ320 

6.1% 

BBJ 

12.5% 

BBJ2 

4.2% 

CL300 

3.7% 

CL350 

8.1% 

CL604 

8.0% 

CL605 

2.0% 

CL650 

8.9% 

CL850 

14.8% 

GL Express 

10.0% 

GL XRS 

9.9% 

GL5000 

4.0% 

GL6000 

6.1% 

CIT. CJ3 

8.0% 

CIT. CJ4 

2.1% 

CIT. Latitude 

6.8% 

CIT. Sovereign 

8.7% 

F900DX 

11.8% 

F900EX 

7.6% 

F900EXe 

4.3% 

F900LX 

9.0% 

F2000LX 

4.2% 

F2000LXS 

8.5% 

F2000S 

6.0% 

F7X 

4.0% 

F8X 

2.9% 

Phenom 300 

4.3% 

L600 

4.6% 

L650 

3.4% 

L1000 

17.6% 

G200 

3.6% 

G280 

9.1% 

G450 

4.4% 

G500 

5.5% 

G550 

3.1% 

G650 

4.0% 

G650ER 

250% 200% 

150% 

100% 50% 

0 

Average AC for sale / Total sold in last 12 months 

5.9% 

Average 

0 200 400 600 800 1000 

The above chart reflects where certain aircraft models are positioned in 

terms of supply and demand (based on a ratio of completed transactions 

compared to the number of sellers and the average number of days on the 

market for a transaction to take place). 

For some model types, given the market indicators shown on the previous 

page, the stabilization in pre-owned asking prices and decline in inventory 

level appear to have stimulated increased demand, leading to an increase 

in transactions and a more balanced state of supply and demand. 

These indications do not necessarily mean that prices will be higher in the 

future, but it does indicate that sellers of these particular models are more 

likely to find willing buyers in a shorter period of time than on average. 

This can be seen the most with certain Gulfstream (G200, G450, G550, 

G650), Bombardier (Challenger 604/605 & Global 5000) and Dassault 

Falcon models (2000 Series and 7X), where more transactions are 

occurring relative to the number for sale, and transactions are requiring 

less time on the market for sellers to complete. 



MARKET POSITIONING 

BUSINESS JETS 


INCREASED SUPPLY 

Balanced 

Supply & Demand 

INCREASED DEMAND 

ACJ318 

ACJ319 

ACJ320 

BBJ 

BBJ 2 

CL300 

CL350 

CL604 

CL605 

CL650 

CL850 

GL Express 

GL XRS 

GL5000 

GL6000 

CIT. CJ3 

CIT. CJ4 

CIT. Latitude 

CIT. Sovereign 

F900DX 

F900EX 

F900EXe 

F900LX 

F2000LX 

F2000LXS 

F2000S 

F7X 

F8X 

Phenom 300 

L600 

L650 

L1000 

G200 

G280 

G450 

G500 

G550 

G650 

G650ER 

The above chart provides a visual representation of the supply / 

demand ratio of each aircraft model relative to the overall market, 

and is based on a "Marketability" calculation for each particular 

model including the following four market indicators: 

1. The percentage of aircraft for sale relative to its fleet size. 

2. The number of aircraft sold relative to the average number for sale. 

3. The average days for sale relative to the overall market average. 

4. The momentum of the marketplace (represented by the trend 

towards supply and demand market equilibrium portrayed earlier). 

When taking into account these four factors, most of the large 

and medium sized jets, such as the Challenger 600, Falcon 2000 

& 900 Series, as well as various Gulfstream models, appear 

better positioned to find buyers available, compared to corporate 

airliner models. 

Asian Sky Group expanded its market research scope in Q3 2019 

to include 39 business jet models including light jet models as 

described in the report. 


MARKET DYNAMICS: HELICOPTERS 

PRE-OWNED HELICOPTERS MARKET Q2 2024 1 

GLOBAL INVENTORY VALUE (MILLION USD) 2,3 

Heavy Medium Twin Light Twin Single 

1,600 

1,400 

1,200 

1,000 

800 

600 

400 

200 

0 


APAC INVENTORY VALUE (MILLION USD) 2,3 


180 

160 

140 

120 

100 

80 

60 

40 

20 

0 


The global inventory value of helicopters available for sale 

remained relatively stable in Q2. After a brief rise in April, the value 

declined gradually through May and June, reaching USD 1,052 

million by the end of the quarter. This represents a 0.4% or USD 

4.18 million increase compared to the first quarter. Compared to 

the same period last year, the inventory value increased by 3.0%, or 

USD 30.63 million. Among the helicopter models, the Bell 407 had 

the highest inventory value at USD 114 million. In contrast, the Bell 

412HP had the lowest inventory value at USD 2.25 million. 

1. Super Medium Helicopters were not included in Market Dynamics due to insufficient available data. 

2. Asian Sky Group's Helicopter Inventory Value by size category is calculated by taking the total number of aircraft for sale from a selection of 29 models, multiplied by their average asking price. 

3. Historical inventory value and transactions are subject to change based on latest market information updates. 



The Single category had the highest inventory value, accounting 

for 43.2% of the total. It was the only category to see an increase 

in inventory value from the previous quarter, rising by USD 41.92 

million. This increase was primarily driven by the Bell 407 model. 

The number of Bell 407s available for sale grew from 29 to 46, 

boosting its inventory value by USD 34.72 million. In contrast, the 

other three categories experienced decreases in inventory value. 

The Heavy category experienced the largest drop, declining by 

USD 29.43 million. The Airbus H225 model had the biggest decline 

within this category, with its inventory value falling by USD 22.93 

million. The number of Airbus H225 available for sale dropped from 

seven to four units, the lowest in the past three years. The Medium 

Twin and Light Twin categories had more modest declines of USD 

4.34 million and USD 3.97 million, respectively. Within the Medium 

Twin category, Leonardo AW139 saw the most change, with its 

available units for sale fell from 19 to 14, leading to a USD 26.48 

million reduction in its inventory value. 

Unlike the relatively stable global market, the Asia-Pacific market 

experienced more pronounced fluctuations in inventory values. 

The Asian market inventory value rose significantly, from USD 105 

million to USD 134 million, a 29.0% rise compared to the previous 

quarter. When compared to the same period last year, the increase 

was at 12.8%. Except for the Heavy category, where the inventory 

value dropped to zero, all other categories saw increases in 

inventory value in the Asia-Pacific market. The Single category had 

the largest increase, rising by USD 22.67 million compared to the 

previous quarter. This was primarily driven by the Bell 407 model, 

which saw its number of aircraft for sale increase from four to 

nine. The Medium Twin and Light Twin categories also experienced 

increases, though less pronounced. The Medium Twin category 

grew by USD 9.00 million, while the Light Twin category increased 

by USD 5.10 million, compared to the previous quarter. 

AIRCRAFT TRANSACTIONS 3 WORLDWIDE 


90 

80 

70 

60 

50 

40 

30 

20 

10 

0 

Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 

Total transactions in the second quarter rose slightly, increasing from 

178 in the first quarter to 183, a 2.8% rise. The Single and Medium 

Twin categories saw transaction volumes increase by eight and one 

unit, respectively. In contrast, the Heavy and Light Twin categories 

experienced drops of three and one unit, respectively. The Single 

category had the highest transaction volume. The top three models 

in this category were the Bell 206B-3 Jetranger (32), Airbus H125 

(24), and Airbus AS350B2 (23), together accounting for 57.2% of 

transactions within the Single category. In the Medium Twin category, 

the Leonardo AW139 was the most sold model with seven units. The 

Light Twin category was led by the Bell 429, which had the highest 

transactions at six units. For the Heavy category, the Sikorsky S-92A 

was the dominant model, contributing 75.0% of the category's 

transactions with six units sold during the quarter. 



% OF FLEET FOR SALE 

Heavy Medium Twin Light Twin Single APAC 

5% 

4% 

3% 

2% 

1% 

0 


The global inventory of helicopters for sale in Q2 2024 was 409 units. This 

represents a 2.5% increase from the previous quarter, and a 15.5% rise 

from a year ago. The Single category comprised the majority, with 258 

units or 63.1% of the total inventory. Within the Single category, the Bell 

206B-3 Jetranger and Bell 407 models had the largest numbers, with 59 

and 46 units available, respectively. The global percentage of helicopters 

available for sale increased slightly, from 2.7% in the previous quarter to 

2.8%. However, the Heavy category saw a decrease, dropping from 1.8% 

to 1.0%, the lowest percentage among all categories. In contrast, the other 

categories showed a small increase in the percentage of aircraft for sale, 

with the Light Twin category having the highest percentage for sale at 

3.2%. In the Asia-Pacific region, the number of helicopters available for sale 

rose from 44 in the previous quarter to 55, increasing the percentage of the 

total helicopter fleet for sale from 1.8% to 2.2%. 


Heavy Medium Twin Light Twin Single APAC 

800 

700 

600 

500 

400 

300 

200 

100 

0 


The average Days on Market for the global helicopter available for 

sale decreased to 359 days, down from 394 days in the previous 

quarter. The Medium Twin category had the longest Days on 

Market at 637 days, with the Airbus H155 model averaging nearly 

1,500 days on the market. The Light Twin category saw an increase 

of 53 days in its Days on Market from the previous quarter. In 

contrast, other categories experienced a decrease, indicating 

improved market conditions. The Single category saw the biggest 

drop, decreasing by 67 days. The Heavy category and Medium Twin 

category saw decreases of 54 and 16 days, respectively. In the 

Asia-Pacific region, the average Days on Market also decreased 

significantly, from 363 days to 250 days. 




HELICOPTERS 

Single Light Twin Medium Twin Heavy 

SUPPLY VS. DEMAND RATIO 


SUPPLY 

> DEMAND 

DAYS ON MARKET 

AVERAGE 

% FOR SALE MODEL 

AVERAGE 

1.6% 

1.7% 

AS350B2 

AS350B3 

4.9% 

EC130B4 

2.3% 

H125 

1.7% 

H130 

3.4% 

EC135 

1.1% 

EC145 

1.7% 

H145 

7.7% 

EC155B 

5.7% 

H155 

2.2% 

H225 

3.4% 

BELL 206B-3 

3.4% 

BELL 206L-3 

1.9% 

BELL 206L-4 

2.6% 

BELL 407 

7.0% 

BELL 505 

3.3% 

BELL 429 

2.1% 

BELL 412EP 

11.0% 

AW109Grand 

6.4% 

AW109SP GN 

1.2% 

AW139 

8.7% 

S76C+ 

5.3% 

S76C++ 

350% 300% 250% 200% 150% 100% 50% 0 2.77% 

0 100 200 300 400 500 600 700 800 

Average 

Average AC for sale / Total sold in last 12 months 

Average Days for Sale on Market 

The above chart reflects where certain aircraft models are positioned 

in terms of supply and demand (based on a ratio of completed 

transactions compared to the number of sellers, and average number 

of days on the market for a transaction to take place). 



MARKET POSITIONING 

HELICOPTERS 

Single Light Twin Medium Twin Heavy 

INCREASED SUPPLY 

Balanced 

Supply & Demand 

INCREASED DEMAND 

AS350B2 

AS350B3 

EC130B4 

H125 

H130 

EC135 

EC145 

H145 

EC155B 

H155 

H225 

BELL 206B-3 

BELL 206L-3 

BELL 206L-4 

BELL 407 

BELL 505 

BELL 429 

BELL 412EP 

AW109Grand 

AW109SP GN 

AW139 

S76C+ 

S76C++ 

The above chart provides a visual representation of the supply / demand ratio of each aircraft model relative to the overall market, 

resulting in a "Marketability" calculation of each particular model based on the following four market indicators: 

1. The percentage of aircraft for sale relative to its fleet size. 

2. The number of aircraft sold relative to the average number for sale. 

3. The average days for sale relative to the overall market average. 

4. The momentum of the marketplace (represented by the trend towards supply and demand market equilibrium portrayed earlier). 

Data Source: AMSTAT & ASG 



MARKET 

SUMMARY 

BUSINESS JETS 



MARKET SUMMARY: BUSINESS JETS 

AIRCRAFT POSITIONING 

ANNUAL OPERATING COST VS. CABIN VOLUME 

ANNUAL OPERATING COST (MILLION USD) 

10 

9 

8 

7 

6 

5 

4 

3 

2 

CORP. AIRLINER 

LONG RANGE 

LARGE 

MEDIUM 

LIGHT 

VERY LIGHT 

CIT. VII 

L45XR 

L40XR 

L75 

G100 

L70 

CIT. ULTRA 

H400XP 

H400XPR 

CIT. BRAVO 

CIT. CJ4 

CIT. CJ4 GEN 2 

PREMIER IA 

CIT. CJ1+ 

CIT. CJ1 

CIT. M2 

IN PRODUCTION 

CEASED PRODUCTION 

ASTRA SP 

GLOBAL EXPRESS XRS & GLOBAL EXPRESS & GLOBAL 6000 

F900EX & F900EX EASY 

CL3500 

F50EX 

CIT. X 

CIT. X+ 

CIT. LONGITUDE 

LEGACY 500 

CL604 

F2000 

PRAETOR 600 

H4000 

GLOBAL 5500 

F8X 

GLOBAL 5000 

F7X 

G200 

CIT. EXCEL 

CIT. XLS+ 

CIT. ENCORE+ 

CIT. ENCORE 

PHENOM 300E 

PC-24 

CIT. CJ3 

CIT. CJ2+ 

CIT. CJ3+ 

CIT. CJ2 

G-V 

CL650 

CL605 

G280 

CL350 & CL300 

ACJ319 

PHENOM 300 

NEXTANT 400XTI 

BBJ MAX 7 

ACJ318 

H850XP & H800XP 

CIT. SOVEREIGN 

CIT. XLS 

BBJ3 

ACJ319 NEO 

ACJ321 

ACJ320 NEO 

ACJ320 

BBJ2 

BBJ MAX 8 

BBJ 

G650ER 

GLOBAL 7500 

G650 

G550 

G600 

G500 

G450 

LEGACY 650E & LEGACY 650 

LEGACY 600 

F900LX 

G300 

G350 

G-IVSP 

CL850 

LINEAGE 1000E 

G-IV 

CIT. LATITUDE 

LEGACY 450 & PRAETOR 500 

CIT. SOVEREIGN+ 

H900XP & H800 

G150 

L60XR 

BBJ MAX 9 

F2000LXS & F2000S F2000EX & F2000DX & F2000LX 

HONDAJET 

PHENOM 100E 

CIT. MUSTANG 

ECLIPSE 550 

1 

VISION SF50 

VISION SF50 G2 

200 

500 

1,000 

MAXIMUM CABIN VOLUME (CU FT) 

2,000 

3,000 

4,000 

5,000 

6,000 

7,000 

8,000 

9,000 

10,000 

*Using data from Conklin & de Decker. Annual Operating Cost consist of Yearly Fixed Cost and Variable Cost under the assumption of 400 hours flight hours per year. 



ANNUAL OPERATING COST VS. MAX RANGE 

OPERATING COST (MILLION USD) 

10 

9 

8 

7 

6 

5 

4 

3 

2 


LONG RANGE 

LARGE 

MEDIUM 

LIGHT 

VERY LIGHT 

CL3500 & CL350 

PREMIER IA 

CIT. CJ2+ 

CIT. CJ2 

CIT. CJ1 

CIT. CJ1+ 

IN PRODUCTION 


CL300 

L75 

H4000 

L70 

CIT. EXCEL 

CIT. ULTRA 

H400XP 

CIT. BRAVO 

H400XPR 

CIT. X 


L45XR 

CIT. VII 

L40XR 

CIT. M2 

F2000DX 

LEGACY 600 

CIT. X+ 

LEGACY 500 


L60XR 

CIT. XLS 

CIT. XLS+ 

BBJ3 

ACJ321 

PC-24 

CIT. CJ3+ 

CIT. CJ3 

CIT. ENCORE 

CIT. ENCORE+ 

PHENOM 300 

PHENOM 300E 

CIT. CJ4 GEN 2 

G100 

ASTRA SP 

CIT. CJ4 


BBJ2 

BBJ MAX 9 

ACJ320 BBJ MAX 8 

BBJ 

ACJ319 

BBJ MAX 7 

ACJ320 NEO 

ACJ319 NEO 

GLOBAL EXPRESS XRS & GLOBAL 6000 

ACJ318 

LINEAGE 1000E 

GLOBAL 7500 

G650 

GLOBAL 5000 

GLOBAL EXPRESS 

G650ER 

G-V 

G550 

GLOBAL 5500 

G600 

G350 

G500 

F8X 

G300 

G450 

F7X 

LEGACY 650E & LEGACY 650 

G-IV 

G-IVSP 

F2000EX 

F2000 

CL604 F900EX EASY & F900EX 

F50EX 

CL850 

F900LX 

F2000LX 

CL650 

CL605 

G200 

F2000LXS 

PRAETOR 600 

G280 

F2000S 

H800XP 

H850XP 

CIT. LATITUDE 

H800 

LEGACY 450 



PRAETOR 500 

H900XP 

G150 

PHENOM 100E 

HONDAJET 

CIT. MUSTANG 

ECLIPSE 550 

1 


VISION SF50 

1,000 

Max Range data source: Conklin & de Decker, this has adopted NBAA IFR rules and under Long Range Cruise Speed with maximum fuel on board, and four passengers with fuel reserve calculation 

for a 200 NM (365 Km) alternate. 

2,000 

MAXIMUM CRUISE RANGE(CU FT) 

3,000 

4,000 

5,000 

6,000 

7,000 

8,000 

9,000 




MAX RANGE VS. CABIN VOLUME 

MAXIMUM CRUISE RANGE (NM) 

8,000 

7,000 

6,000 

5,000 

4,000 

3,000 

2,000 

1,000 

PRAETOR 500 


G100 

ASTRA SP 

H850XP 

H800XP 

H800 

PHENOM 300E & PHENOM 300 

CIT. CJ4 GEN 2 & CIT. CJ4 

H400XPR 

CIT. M2 

CIT. CJ3 

CIT. BRAVO 

CIT. CJ2+ 

CIT. CJ2 


LONG RANGE 

LARGE 

MEDIUM 

LIGHT 

VERY LIGHT 


CIT. CJ3+ 

CIT. CJ1+ 

CIT. MUSTANG 

HONDAJET 

HONDAJET ELITE 

IN PRODUCTION 


G280 


CIT. X+ 

F50EX 

CIT. X 

G150 

L70 

L45XR 

GLOBAL EXPRESS XRS & GLOBAL 6000 

PRAETOR 600 

CIT. CJ1 

GLOBAL 5500 

F2000LX 

PHENOM 100E 

CL605 & CL650 

F2000LXS 

G200 

L75 

PREMIER IA 

G600 

L60XR 

CIT. XLS+ 

PC-24 

CIT. XLS 

CIT. EXCEL 

CIT. VII 

G550 

G-V 

F8X 

F7X 

GLOBAL 7500 

G650ER 

G650 

CL604 

F900LX 

F900EX 

F2000S 

G350 

G300 

F2000S 

CL350 & CL3500 

F2000DX 

F2000 

CL300 

LEGACY 500 

H4000 

CIT. ENCORE+ 

CIT. ENCORE 

L40XR 

CIT. ULTRA 

H400XP 

BBJ MAX 7 

GLOBAL EXPRESS BBJ 

ACJ318 

ACJ319 

F6X 

G500 

GLOBAL 5000 

G450 

G-IV 

G-IVSP 

LEGACY 600 

LEGACY 450 

CIT. LATITUDE 


H900XP 

BBJ2 

ACJ320 

ACJ320 NEO 

LINEAGE 1000E 

ACJ321 

BBJ MAX 8 

ACJ319 NEO 

BBJ MAX 9 

BBJ3 

LEGACY 650 & LEGACY 650E 

ECLIPSE 550 


VISION SF50 

500 

50 

200 

500 

1,000 


2,000 

3,000 

4,000 

5,000 

6,000 

7,000 

8,000 

9,000 

10,000 



INVENTORY LEVEL, PRICE TREND & TRANSACTIONS 

ACJ318 & ACJ319 


PERFORMANCE 

Max Range 

Max Speed 

Typ. Passengers 

ACJ318 

4,253 N.M. / 7,877 km 

Mach 0.82 

19 

ACJ319 

6,000 N.M. / 11,112 km 

Mach 0.82 

19 

MARKET 

No. for Sale (% of fleet) 

Avg Asking Price (USD) 

Avg Days on Market 

Past 12 Months 

Past 3 Months 

Mar-24 

3 (16.7%) 

23.75M 

282 

0 

0 

Jun-24 

2 (11.1%) 

23.75M 

495 

0 

0 

Mar-24 

3 (4.1%) 

38.00M 

186 

5 

3 

Jun-24 

6 (8.0%) 

38.00M 

167 

4 

0 

Average Asking Price (Million USD) 

ACJ318 

ACJ319 

Market Indicators (vs. Last Quarter) 

$39.50 

$45.00 

$26.50 $25.00 

$38.00 

$23.75 

ACJ318 

Transaction Level (Past 12 Months) 

Inventory Level 

Average Asking Price 

Average Days on Market 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


For Sale vs. Sold 

Sold For Sale 

1 

1 

1 

1 

1 1 

1 

ACJ319 





7 6 4 3 7 8 6 

6 8 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


Source: AMSTAT & ASG 



BBJ & BBJ2 

PERFORMANCE 

Max Range 

Max Speed 


BBJ 

6,600 N.M. / 12,200 km 

Mach 0.79 

19 

BBJ2 

6,465 N.M. / 11,970 km 

Mach 0.79 

19 

MARKET 





Past 3 Months 

Mar-24 

6 (5.3%) 

49.25M 

452 

6 

1 

Jun-24 

7 (6.1%) 

49.25M 

469 

9 

4 

Mar-24 

2 (8.7%) 

32.00M 

320 

1 

1 

Jun-24 

3 (12.5%) 

32.00M 

286 

1 

0 


BBJ 

BBJ2 


$33.50 

$40.00 

$49.25 

BBJ 


$29.00 

$32.00 

$32.00 




Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 



Sold For Sale 

2 1 1 1 1 

2 

1 

1 

1 

2 

1 1 

3 1 

BBJ2 





10 8 8 8 7 10 9 

8 10 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 





CHALLENGER 300 & 350 

PERFORMANCE 

Max Range 

Max Speed 


CL300 

3,340 N.M. / 6,185 km 

Mach 0.82 

19 

CL350 

3,421 N.M. / 6,335 km 

Mach 0.82 

19 

MARKET 





Past 3 Months 

Mar-24 

21 (4.7%) 

11.88M 

212 

37 

5 

Jun-24 

19 (4.2%) 

11.43M 

204 

43 

13 

Mar-24 

14 (3.3%) 

19.97M 

159 

22 

4 

Jun-24 

16 (3.7%) 

15.62M 

150 

21 

5 


CL300 

CL350 


$16.90 

$15.90 

$19.75 

$15.62 

$12.16 $11.43 

CL300 





Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 



Sold 

For Sale 

CL350 

2 

9 

9 

13 

3 

8 

6 1 

1 

4 

6 

3 

4 

1 

5 5 

7 

5 

14 

2 4 3 

6 

6 

6 





21 21 20 29 33 41 36 

35 35 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 





CHALLENGER 604, 605 & 650 

PERFORMANCE 

Max Range 

Max Speed 


CL604 

4,027 N.M. / 7,458 km 

Mach 0.82 

9 

CL605 

4,123 N.M. / 7,635 km 

Mach 0.82 

9 

CL650 

4,123 N.M. / 7,635 km 

Mach 0.82 

10 

MARKET Mar-24 Jun-24 Mar-24 Jun-24 Mar-24 

Jun-24 





Past 3 Months 

25 (7.2%) 

6.32M 

286 

27 

7 

28 (8.1%) 

5.90M 

307 

32 

9 

22 (7.7%) 

11.69M 

244 

22 

4 

23 (8.0%) 

11.92M 

232 

22 

4 

6 (4.1%) 

25.90M 

126 

10 

5 

3 (2.0%) 

17.17M 

119 

14 

5 


CL604 

CL605 

CL650 

$24.95 

$21.12 

$13.75 

$13.03 

$17.17 

$11.92 


CL604 





$7.87 

Jun 

2022 

Sold 

Sep 

2022 


For Sale 

Dec 

Mar 

2022 2023 

$7.31 $5.90 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


CL605 





6 8 8 9 6 

7 

10 

3 

6 

2 

1 

4 

4 

3 

6 

5 7 5 8 

10 

2 4 6 

30 30 38 47 55 54 53 53 

54 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


8 

4 

Jun 


CL650 








CHALLENGER 850 



$8.35 

$7.50 

$8.98 





Jun 

2022 

Sold 

Sep 

2022 


For Sale 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 

Max Range 

Max Speed 


2,946 N.M. / 5,456 km 

Mach 0.80 

18 

2 

2 

1 

1 

3 

1 1 

2 2 1 

2 

7 8 8 5 7 8 6 8 

2 

8 

MARKET 




Sold in Past 12 Months 


Mar-24 

8 (8.9%) 

9.75M 

357 

10 

2 

Jun-24 

8 (8.9%) 

8.98M 

351 

11 

2 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 





GLOBAL 5000 & 6000 

PERFORMANCE 

Max Range 

Max Speed 


GLOBAL 5000 

5,350 N.M. / 9,908 km 

Mach 0.82 

13 


6,125 N.M. / 11,343 km 

Mach 0.82 

13 

GLOBAL XRS 

6,226 N.M. / 11,520 km 

Mach 0.82 

13 

GLOBAL 6000 

6,080 N.M. / 11,260 km 

Mach 0.82 

13 

MARKET 





Past 3 Months 

Mar-24 

22 (9.4%) 

14.12M 

172 

23 

5 

Jun-24 

23 (9.9%) 

13.36M 

207 

23 

4 

Mar-24 

18 (13.3%) 

11.35M 

165 

17 

4 

Jun-24 

20 (14.8%) 

11.23M 

226 

18 

3 

Mar-24 

14 (8.8%) 

16.98M 

188 

19 

5 

Jun-24 

16 (10.0%) 

16.65M 

180 

22 

6 

Mar-24 

9 (2.8%) 

29.82M 

190 

34 

10 

Jun-24 

13 (4.0%) 

28.69M 

139 

35 

8 


$32.00 

$17.50 

$12.25 

Jun 

2022 

GL5000 


13 

$17.00 

Sold 

4 

13 

Sep 

2022 

For Sale 

8 

2 

GL EXPRESS 

Dec 

Mar 

2022 2023 

12 

10 5 3 

5 

GL XRS 

7 

$34.48 

$18.74 

$15.05 

Jun 

2023 

GL6000 

$18.43 

11 

8 12 4 7 14 

7 4 

5 7 8 

23 33 43 59 61 76 71 63 72 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Sep 

2023 

Dec 

2023 

Dec 

2023 

Mar 


Mar 


11 

6 

$28.69 

$16.65 

$11.23 

Jun 


4 

Jun 


$13.36 


GLOBAL 5000 










GLOBAL XRS 





GLOBAL 6000 








CITATION CJ3 & CJ4 

PERFORMANCE 

Max Range 

Max Speed 


Cit. CJ3 

1,891 N.M. / 3,502 km 

Mach 0.73 

6 

Cit. CJ4 

1,991 N.M. / 3,687 km 

Mach 0.77 

7 

MARKET 





Past 3 Months 

Mar-24 

35 (5.2%) 

6.98M 

133 

52 

9 

Jun-24 

42 (6.1%) 

6.65M 

137 

58 

16 

Mar-24 

17 (4.0%) 

8.47M 

116 

35 

6 

Jun-24 

35 (8.0%) 

9.13M 

107 

35 

7 


CJ3 

CJ4 


$9.00 $8.77 

$9.13 

$6.76 $6.65 

$5.43 

Citation CJ3 





Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 



Sold For Sale 

23 

12 9 7 3 

12 

10 

8 

4 

10 

6 

5 6 6 3 

8 

7 

11 20 

2 6 

7 

13 

6 

4 

Citation CJ4 





23 32 31 29 48 52 45 52 77 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 





CITATION LATITUDE 



$17.30 

$19.30 



$11.50 



Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 


Sold 

For Sale 

Max Range 

Max Speed 


2,870N.M. / 5,315 km 

Mach 0.80 

9 

2 

1 

1 

1 

1 1 

4 2 3 5 4 3 4 

6 8 

1 1 

4 

3 

1 

2 

1 

1 

MARKET 






Mar-24 

6 (1.6%) 

18.28M 

88 

14 

3 

Jun-24 

8 (2.1%) 

19.30M 

117 

14 

2 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


CITATION SOVEREIGN 



$6.89 

$8.89 

$7.97 





Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 



Sold 

For Sale 

PERFORMANCE 

Max Range 

Max Speed 


3,010N.M. / 5,574 km 

Mach 0.80 

9 

3 3 

3 1 

4 

7 

2 

5 

4 

5 

7 10 16 18 20 15 15 

23 30 

3 

8 

5 

2 

6 

5 

1 1 

1 

5 

5 2 

MARKET 






Mar-24 

23 (5.2%) 

7.64M 

138 

46 

3 

Jun-24 

30 (6.8%) 

7.97M 

145 

44 

12 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 





FALCON 900 FAMILY 

PERFORMANCE 

Max Range 

Max Speed 


F900DX 

4,100 N.M. / 7,593 km 

Mach 0.83 

12 

F900EX 

4,500 N.M. / 8,334 km 

Mach 0.83 

12 

F900EX EASy 

4,500 N.M. / 8,334 km 

Mach 0.83 

12 

F900LX 

4,750 N.M. / 8,800 km 

Mach 0.83 

12 

MARKET 





Past 3 Months 

Mar-24 

3 (13.0%) 

13.38M 

194 

0 

0 

Jun-24 

2 (8.7%) 

12.50M 

310 

1 

1 

Mar-24 

16 (13.4%) 

10.57M 

240 

9 

2 

Jun-24 

14 (11.8%) 

10.35M 

219 

12 

6 

Mar-24 

7 (5.9%) 

15.66M 

123 

15 

2 

Jun-24 

9 (7.6%) 

17.75M 

181 

12 

2 

Mar-24 

4 (4.3%) 

26.50M 

103 

6 

2 

Jun-24 

4 (4.3%) 

24.25M 

194 

5 

0 


$22.00 

$13.80 

Jun 

2022 

Sold 

F900DX 


5 2 2 

Sep 

2022 

For Sale 

4 

F900EX 

Dec 

Mar 

2022 2023 

F900EX EASy 

5 3 4 4 3 

1 

$26.00 

$17.63 

$15.55 

$11.39 

Jun 

2023 

6 1 

F900LX 

3 2 

2 

3 2 

$24.25 

$17.75 

$12.50 

$10.35 

2 2 4 3 4 

2 

4 8 14 13 15 22 28 30 29 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Sep 

2023 

Dec 

2023 

Dec 

2023 

Mar 


Mar 


Jun 


Jun 



F900DX 





F900EX 





F900EX EASy 





F900LX 








FALCON 2000 FAMILY 

PERFORMANCE 

Max Range 

Max Speed 


F2000LX 

4,000 N.M. / 7,408 km 

Mach 0.83 

10 

F2000LXS 

4,000 N.M. / 7,408 km 

Mach 0.83 

10 

F2000S 

3,350 N.M. / 6,208 km 

Mach 0.83 

10 

MARKET Mar-24 Jun-24 Mar-24 Jun-24 Mar-24 

Jun-24 





Past 3 Months 

13 (9.8%) 

14.44M 

155 

14 

4 

12 (9.0%) 

15.59M 

159 

17 

5 

6 (4.3%) 

27.33M 

90 

7 

0 

6 (4.2%) 

26.90M 

124 

5 

0 

3 (6.4%) 

19.98M 

148 

4 

1 

4 (8.5%) 

18.58M 

202 

3 

0 


F2000LX 

F2000LXS F2000S 

$27.63 

$26.90 

$23.88 

$17.50 $17.85 

$18.58 


F2000LX 





Jun 

2022 


Sold 

Sep 

2022 

For Sale 

Dec 

Mar 

2022 2023 

$15.66 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


$15.59 

Jun 


F2000LXS 





1 

3 

2 2 1 

2 

1 

2 

1 

1 

3 

3 

1 3 5 2 2 

3 

4 4 6 10 12 17 14 22 22 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

1 

Mar 


4 

1 

Jun 


F2000S 








FALCON 7X 



$23.50 

$22.02 $22.03 





Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 



Sold 

For Sale 

PERFORMANCE 

Max Range 

Max Speed 


5,950 N.M. / 11,018 km 

Mach 0.90 

12 

3 

5 

4 

2 

2 

3 3 

2 

2 

2 

5 

4 2 

6 

4 

2 

4 2 

14 12 12 11 11 11 16 16 

18 

2 

1 

3 

2 

MARKET 






Mar-24 

16 (5.3%) 

20.69M 

160 

34 

5 

Jun-24 

18 (6.0%) 

22.03M 

167 

32 

5 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 





PHENOM 300 



$8.87 

$9.45 

$7.60 





Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 


Sold 

For Sale 

Max Range 

Max Speed 


1,242 N.M. / 2,300 km 

Mach 0.78 

5 

2 

2 

5 

6 

2 

3 

9 

5 

3 

6 

4 

5 

6 

7 

14 

5 

1 

3 

6 6 4 

7 12 16 18 29 27 24 19 23 

3 

6 

7 

MARKET 






Mar-24 

19 (2.5%) 

8.75M 

144 

61 

9 

Jun-24 

23 (2.9%) 

7.60M 

166 

68 

16 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


LEGACY 600/650 


L600 

L650 

$19.95 

$12.50 

$8.50 

$20.00 

$9.57 


L600 L650 





$9.38 

Jun 

2022 


Sold 

Sep 

2022 

For Sale 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 

Max Range 

Max Speed 


L600 

3,400 N.M. 

6,297 km 

Mach 0.80 

13 

L650 

3,640 N.M. 

7,112 km 

Mach 0.80 

13 

3 

4 

4 

4 

4 

3 

4 2 

2 2 

1 

3 

4 

5 5 

2 2 

3 

11 11 11 11 10 13 10 16 13 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

4 

1 

Mar 


8 

3 

3 

Jun 


MARKET 

No. for Sale 





Mar-24 | Jun-24 Mar-24 | Jun-24 

11 | 8 

9.94M 

9.57M 

259 | 282 

16 | 22 

4 | 11 

5 | 5 

20.00M 

20.00M 

401 | 478 

15 | 13 

3 | 3 




LINEAGE 1000 



$22.50 

$19.97 





Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 


Sold 

For Sale 

Max Range 

Max Speed 


4,400 N.M. / 8,149 km 

Mach 0.82 

19 

1 1 1 1 1 1 1 1 1 1 1 

1 1 

MARKET 






Mar-24 

0 (0.0%) 

- 

0 

1 

0 

Jun-24 

1 (3.4%) 

19.97M 

48 

1 

0 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 





G200 



$5.68 

$4.84 




$3.70 


Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 


Sold 

For Sale 

Max Range 

Max Speed 


3,050 N.M. / 5,651 km 

Mach 0.81 

8 

2 

3 

3 

3 3 

6 

2 

6 

2 

9 

1 

4 

4 

4 4 1 

1 

3 3 5 1 

1 

11 12 22 21 26 38 31 35 42 

MARKET 






Mar-24 

35 (14.7%) 

5.47M 

222 

33 

6 

Jun-24 

42 (17.6%) 

4.84M 

214 

31 

7 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


G280 



$18.50 

$17.14 

$16.85 





Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 


Sold 

For Sale 

Max Range 

Max Speed 


3,600 N.M. / 6,667 km 

Mach 0.84 

8 

4 

6 

3 

2 

2 

1 3 

1 

2 

1 

1 

3 

1 

1 

2 

1 1 

3 1 

1 

1 

2 4 9 

9 

6 6 

7 

8 10 

MARKET 






Mar-24 

8 (3.0%) 

15.53M 

137 

22 

1 

Jun-24 

10 (3.6%) 

16.85M 

181 

21 

5 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 





G450 



$15.95 

$15.33 

$15.13 





Jun 

2022 


Sold 

Sep 

2022 

For Sale 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 

Max Range 

Max Speed 


4,350 N.M. / 8,056 km 

Mach 0.85 

13 

1 1 

2 1 

1 

2 

4 3 

2 

4 

1 

1 

1 

1 

4 3 2 

1 

3 4 

12 11 13 14 16 23 31 31 32 

1 

4 

3 

MARKET 






Mar-24 

31 (8.8%) 

15.10M 

188 

23 

3 

Jun-24 

32 (9.1%) 

15.13M 

203 

27 

10 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


G550 



$24.98 

$19.35 

$22.37 





Jun 

2022 


Sold 

Sep 

2022 

For Sale 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 

Max Range 

Max Speed 


6,750 N.M. / 12,501 km 

Mach 0.87 

18 

6 

5 

4 

4 

6 

5 

7 5 2 

2 

4 

5 

8 

14 24 26 33 37 45 33 43 

34 

Jun 

2022 

Sep 

2022 

Dec 

Mar 

2022 2023 

Jun 

2023 

6 

4 6 

4 10 

4 

MARKET 

Mar-24 

Jun-24 

7 3 

4 6 

4 

7 

No. for Sale (% of fleet) 43 (7.0%) 

Avg Asking Price (USD) 20.50M 

Avg Days on Market 177 

Sold in Past 12 Months 65 


Sep 

2023 

Dec 

2023 

Mar 


Jun 


34 (5.5%) 

22.37M 

180 

65 

17 




G650 & G650 ER 



$49.00 

$43.50 

G650 

G650ER 

$56.40 

$40.63 

$40.65 

$32.90 





G650 

G650ER 

Jun 

2022 

Sold 

Sep 

2022 


For Sale 

Dec 

Mar 

2022 2023 

Jun 

2023 

Sep 

2023 

Dec 

2023 

Mar 


Jun 


PERFORMANCE 

Max Range 

Max Speed 


G650 

7,000 N.M. 

12,964 km 

Mach 0.90 

18 

G650ER 

7,500 N.M. 

13,890 km 

Mach 0.90 

18 

5 

2 

2 

4 

3 

2 3 1 2 

2 

10 16 14 17 12 12 14 22 

Jun 

2022 

1 

Sep 

2022 

Dec 

Mar 

2022 2023 

1 

Jun 

2023 

2 

3 

Sep 

2023 

3 1 

4 

Dec 

2023 

1 

1 2 

Mar 


4 

4 

21 

Jun 


MARKET 

No. for Sale 





Mar-24 | Jun-24 Mar-24 | Jun-24 

6 | 5 

39.12M 

32.90M 

162 | 157 

6 | 9 

1 | 4 

16 | 16 

48.75M 

40.65M 

178 | 169 

14 | 16 

1 | 6 



MARKET 

SUMMARY 

CIVIL HELICOPTERS 



MARKET SUMMARY: CIVIL HELICOPTERS 

AIRCRAFT POSITIONING 1 

PAYLOAD 2 WITH FULL FUEL VS. MAX RANGE 3 

700 

600 

500 

HEAVY 

SUPERM MEDIUM 

MEDIUM TWIN 

LIGHT TWIN 

SINGLE TURBINE 

IN PRODUCTION 


H175 

AW139 

AW189 

AW109 POWER 

AW119KX 

H155 

S-92 

MAX RANGE (NM) 

400 

300 

EN480B 

H120 

BELL 206L4 

R66 

MD600N 

BELL429 

BELL505 

H130 

H125 

MD530F 

AW109 GRANDNEW 

AW169 

H145 

BELL 407GXP 

BELL 407 

H135(T3) 

S-76D 

BELL430 

S-76C++ 

BELL 412EPI 

H225 

AS332 L2 

MD500E 

MD902 

200 

MD520N 

150 

300 

600 

1,000 

PAYLOAD WITH FULL FUEL (LB) 

2,000 

3,000 

4,000 

5,000 

6,000 

7,000 

CABIN VOLUME VS. MAX RANGE 3 

650 

600 

500 

HEAVY 

SUPERM MEDIUM 

MEDIUM TWIN 

LIGHT TWIN 

SINGLE TURBINE 

IN PRODUCTION 


AW139 

AW189 

H175 

AW119KX 

AW109 POWER 

H155 S-92 

MAX RANGE (NM) 

400 

300 

EN480B 

R66 

MD530F 

H120 

H130 

BELL 505 

H125 

AW109 GRANDNEW 

H145 

BELL 407GXP 

BELL 407 

BELL429 

BELL 206L4 

H135(T3) 

MD600N 

BELL430 

AW169 

S-76D 

S-76C++ 

BELL 412EPI 

AS332 L2 

H225 

MD500E 

MD902 

200 

MD520N 

150 

25 

50 

100 

Notes: 


1.Data Source: Conklin & de Decker 

2.Payload: It is the payload with full fuel in Utility configuration 

3.Max Range: It is the maximum VFR range of the aircraft with the maximum fuel on board and no passengers. This uses a fuel reserve of 30 minutes at cruise speed and altitude. 

200 

300 

400 

500 

600 

700 

800 

900 

1,000 



INVENTORY LEVEL, VALUE TREND & TRANSACTIONS 

AIRBUS AS350/H125 

Market Value (Million USD) 

$2.80 

1995 AS350 B2 2008 AS350 B3 2020 AS350 B3e/H125 

$1.74 $1.74 


Sold 

For Sale 

$3.15 

$2.80 

2023 AS350 B3e/H125 

$1.06 $1.07 $1.07 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

20 

21 

13 16 10 10 21 10 14 25 15 19 23 

25 19 

12 20 11 15 15 

$3.55 

$3.06 

$1.87 

27 16 25 28 12 

70 68 

74 

78 

81 

72 

74 

74 

66 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

Dec 

2023 

Dec 

2023 

Mar 


Mar 


Jun 


Jun 



MARKET 











Mar-24 

74 (2.1%) 

2.02M 

332 

217 

58 

Jun-24 

66 (1.9%) 

2.30M 

265 

225 

65 

The proven AS350/H125 remains the most 

transacted turbine helicopter type on the 

market. Availability (≈2% of the fleet) continues 

to be low considering a fleet of more than 3,500 

in service. With no new replacement on the 

market, older models are still sought after and 

values have largely remained stable. Values for 

the newer B3e model have increased based on 

asking prices and low availability. 

AIRBUS EC130/H130 



$3.34 

2005 EC130 B4 2012 EC130 B4 2019 H130/EC130 T2 2023 H130/EC130 T2 

$3.99 

$3.16 

$3.99 

$3.00 




$1.82 

$1.45 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 


Sold 

For Sale 

$2.03 

$1.67 

Dec 

2023 

Mar 


$1.76 

$1.44 

Jun 



MARKET 

Mar-24 

No. for Sale (% of fleet) 25 (3.1%) 

Avg Asking Price (USD) 2.06M 

Avg Days on Market 313 



Jun-24 

27 (3.3%) 

1.95M 

296 

39 

8 

1 

3 

5 4 5 4 3 

3 4 

2 

3 

5 

17 19 17 21 22 26 31 

25 27 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

2 

4 

4 

6 

Dec 

2023 

10 

2 3 4 1 

Mar 


3 

Jun 


With more cabin space than its competitors, 

the EC130/H130 has proven popular in the 

corporate and sightseeing roles. Availability 

has remained fairly consistent although the 

number of quarterly transactions decreased 

during Q2 2024. Market values remain stable, 

based on market observations. 






1998 EC135 P1 2008 EC135 P2 

2020 H135 2023 H135 


$7.05 

$5.85 

$5.65 

$3.27 $3.27 

$7.05 

$5.12 

$2.89 





$1.12 $1.12 $1.02 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 


Sold 

For Sale 

Dec 

2023 

Mar 


Jun 


MARKET 






Mar-24 

16 (2.9%) 

3.84M 

176 

12 

6 

Jun-24 

17 (3.0%) 

3.97M 

231 

12 

3 

1 

3 

1 

2 

2 

3 

1 

2 

2 

1 

11 7 5 6 9 9 

15 16 17 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

1 

2 

Dec 

2023 

2 

3 

1 

Mar 


2 

1 

Jun 


The twin-engine EC135/H135 is a proven type 

in a variety of missions, especially EMS, law 

enforcement and corporate. Inventory level has 

remained consistent and low. Small adjustments 

to market values were made at the end of Q2 2024, 

based on market activity. There is a well spread 

fleet globally and across numerous missions, and 

the 135 has been a popular choice for operators 

upgrading from single-engine turbine helicopters. 

Note: Only EC135T2, EC135P2 were included in Market Indicators and For Sale vs. Sold. 



$5.87 

$3.60 


Sold 

2009 EC145 T1 2015 EC145 T2 

For Sale 

2022 EC145 T3 2023 EC145 T3 

$9.94 

$8.80 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

2 

1 1 2 

1 2 

Note: EC145T3 was not included in Market Indicators and For Sale vs. Sold. 

3 

$9.64 

$8.54 

$4.69 $5.02 

$2.88 $3.08 

4 

4 

6 

1 

5 

Dec 

2023 

6 

Mar 


2 

1 2 

4 

2 

12 12 13 11 9 9 10 13 

13 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

Dec 

2023 

Mar 


Jun 


Jun 







MARKET 

Mar-24 

Jun-24 

No. for Sale (% of fleet) 13 (1.3%) 13 (1.2%) 

Avg Asking Price (USD) 4.65M 4.65M 

Avg Days on Market 204 258 


37 


6 

Successful model in the corporate, EMS and law 

enforcement sectors. Inventory levels have remained 

low and fairly consistent at around 1% of the fleet, 

and market values are generally stable. The D3 five 

blade variant is in service, with upgrades offered 

for T2 models for increased performance and 

extended service life. Despite newer competition on 

the market, the proven EC145/H145 is expected to 

maintain its popularity and market share. 







2000 EC155 B 2010 H155/EC155 B1 

$7.50 

2020 H155/EC155 B1 

$7.25 

$7.00 

Transaction Level 


$4.79 


$3.64 

$3.24 


$1.78 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 


Sold 

For Sale 

$1.36 $1.26 

Dec 

2023 

Mar 


Jun 


MARKET 






Mar-24 

11 (6.1%) 

3.18M 

1,163 

5 

0 

Jun-24 

11 (6.1%) 

3.64M 

1,172 

5 

1 

1 

1 1 

2 

1 1 

1 

11 12 11 11 11 10 10 11 11 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

3 

1 

Dec 

2023 

Mar 


1 

Jun 


The 155 sits in a very competitive medium twin 

market and is nearing the end of production. 

Availability remains stable at around 6% of 

the fleet, although there have been very few 

transactions over the past year. The type is 

relatively popular in the corporate sector, but 

other options are widely available, including the 

Sikorsky S-76 in the pre-owned market and the 

Leonardo AW169 for new builds. 



2007 EC225LP 2012 EC225LP 2017 EC225LP 

$8.15 $8.15 

$6.99 $6.99 

$8.56 

$7.34 

$6.23 


Transaction Level 




$5.93 $5.93 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 


Sold For Sale 

Dec 

2023 

Mar 


Jun 


MARKET 






Mar-24 

7 (3.9%) 

7.28M 

343 

12 

8 

Jun-24 

4 (2.2%) 

7.01M 

254 

13 

2 

3 

2 

2 

3 2 1 

1 1 2 

1 1 

8 7 5 6 7 6 5 7 4 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

Dec 

2023 

5 

Mar 


1 

1 

Jun 


An increasing number of former offshore 

EC225/H225 examples have been adapted for 

multi-role/utility/heavy lift use and inventory 

level has been fairly stable. Market values 

have again increased based on overall market 

activity and decrease in availability. Some 

secondary markets now emerging. 




BELL 206 


1992 BELL 206L-3 2004 BELL 206B-3 

$1.61 

2016 BELL 206L-4 

$1.86 $1.86 






$0.80 $0.80 $0.84 

$0.80 $0.80 $0.80 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 


Sold 

14 

7 

9 

For Sale 

16 

14 13 

21 

14 

12 19 

8 

17 22 17 15 18 12 10 

11 

8 12 15 

16 16 

10 

83 87 80 75 72 70 82 92 

82 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

Dec 

2023 

Dec 

2023 

Mar 


Mar 


Jun 


Jun 


MARKET 

Mar-24 

Jun-24 


Avg Asking Price (USD) 884.12K 873.40K 


Sold in Past 12 Months 168 163 


42 

The ageing but proven Bell 206 remains a popular 

choice as an entry level single turbine helicopter, 

mostly for corporate or multi-role use. Inventory 

level decreased slightly during Q2 2024 and 

transaction volumes have been fairly consistent. 

Values have remained largely stable. Availability 

and retirements of older examples are expected to 

increase, which would negatively affect values. 

BELL 407 


$2.60 

$2.22 

2010 BELL 407 2014 BELL 407GX 


Sold 

$2.35 

For Sale 

2018 BELL 407GXP 

$2.69 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

10 

11 

7 

4 

5 8 

4 

7 6 7 9 5 

3 

2 4 8 

2 

1 

$3.35 $3.35 

$2.54 $2.54 

24 27 25 32 24 26 27 29 46 

Dec 

2023 

13 

7 

4 

Mar 


5 

5 

8 

$2.76 

Jun 


2 






MARKET 

Mar-24 

Jun-24 





65 


15 

Derived from the Bell 206, the 407 has gained 

market presence in a number of missions, including 

EMS, law enforcement and multi-role. Inventory 

level has increased and asking prices remain 

largely consistent. Availability of the more desirable 

newer models (GXP and GXi) remains low and 

market values remain unchanged. 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

Dec 

2023 

Mar 


Jun 





BELL 505 JET RANGER X 


2017 BELL 505 2020 BELL 505 

2023 BELL 505 


$1.64 

$1.28 


Sold 

3 2 2 

For Sale 

6 

2 

1 

2 

1 1 

$1.71 

$1.34 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

4 3 3 5 

3 

2 2 3 

2 

3 

$1.60 

$1.60 $1.44 

$1.25 

4 2 2 

15 17 20 23 24 24 24 31 37 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

Dec 

2023 

Dec 

2023 

Mar 


Mar 


Jun 


Jun 






MARKET 

Mar-24 

Jun-24 





28 


8 

Pre-owned examples of the Bell 505 are still 

much sought after and with limited supply. 

Market values were reduced in Q2 2024 with 

a 5% increase in inventory levels. Transaction 

volume has been consistent year-on-year. Much 

of the inventory is corporate configured with low 

time and high specifications, which command 

higher values. 

BELL 412 


1991 BELL 412SP 2006 BELL 412EP 2021 BELL 412EPI 2023 BELL 412EPI 

$12.53 

$12.53 

$10.50 

$9.63 

$9.63 

$4.45 $4.18 $4.18 






$1.75 $1.75 $2.00 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 


Sold 

For Sale 

Dec 

2023 

Mar 


Jun 


MARKET 






Mar-24 

16 (2.4%) 

3.47M 

654 

21 

5 

Jun-24 

16 (2.4%) 

3.45M 

623 

17 

5 

1 

3 

1 3 2 

1 2 1 1 3 

22 22 21 21 

20 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

2 

4 

1 

3 

17 

1 2 

Note: Only BELL 412EP, BELL 412SP were included in Market Indicators and For Sale vs. Sold. 

4 

1 

16 16 

Dec 

2023 

Mar 


2 3 

16 

Jun 


As a flexible and rugged utility helicopter, the 

412 is still used in many markets despite the 

availability of newer models. Inventory levels 

are stable with fairly consistent asking prices, 

while market values also remain stable. Upgrade 

packages are available for older models to 

extend service life, and new deliveries to civilian 

operators will continue but with low volumes. 




BELL 429 


$6.52 

$5.58 

$3.92 

2010 BELL 429 2015 BELL 429 2020 BELL 429 2023 BELL 429 


1 

Sold 

1 

2 

For Sale 

2 

3 3 

1 3 

$8.10 

$7.18 

$6.42 

$4.51 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

1 

4 

1 

3 2 1 

2 

1 

$7.70 

$6.61 

$5.90 

$4.28 

2 3 

5 5 8 8 12 10 13 15 

16 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

Dec 

2023 

Dec 

2023 

Mar 


Mar 


Jun 


Jun 







MARKET 

Mar-24 

Jun-24 





20 


6 

The Bell 429 has gained much popularity and 

fleet share in the EMS and law enforcement 

roles. Its larger cabin volume and twin engine 

configuration mean the 429 is more suitable for 

longer range EMS missions. Availability has been 

fairly consistent, and asking prices were down 

compared to Q1 2024. Market values have been 

slightly revised in line with the overall market 

trend for this type. 

LEONARDO AW109 



2006 AW109S Grand 2014 AW109SP Grandnew 

2021 AW109SP Grandnew 


$6.46 

$6.33 



$4.36 

$3.65 

$3.48 


$2.48 

$2.42 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 


Sold For Sale 

Dec 

2023 

Mar 


$2.19 

Jun 


MARKET 






Mar-24 

31 (7.9%) 

3.39M 

263 

25 

6 

Jun-24 

33 (8.3%) 

3.24M 

322 

18 

3 

2 

4 

3 

4 

2 

3 4 

2 1 

1 

3 3 1 1 3 

2 2 1 

2 

23 26 22 25 20 

21 30 31 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

Dec 

2023 

3 2 1 

Mar 


33 

Jun 


One of the most popular models in its class, 

the AW109 serves a range of missions globally. 

There is a high concentration of corporate 

configured examples, which could affect values 

and transactions should demand in that market 

decline. Inventory level and asking prices have 

remained fairly stable going into Q2 2024. Market 

values have remained stable since the previous 

reduction in Q4 2023. 




LEONARDO AW139 


2009 AW139 2015 AW139 2021 AW139 2023 AW139 

$15.90 

$12.83 

$7.66 $7.50 

$4.66 $4.56 $4.10 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 


Sold 

3 

For Sale 

6 2 3 2 

3 1 

1 

2 

8 

3 5 

3 4 7 

2 

3 

2 

4 

$15.90 

$12.19 

$7.12 

2 1 

13 17 18 21 23 25 25 19 14 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

Dec 

2023 

Dec 

2023 

Mar 


Mar 


Jun 


Jun 







MARKET 

Mar-24 

Jun-24 





44 


7 

Highly popular Medium Twin on the market with 

more than 900 in service worldwide in a wide range 

of missions. There is little interest in the older, short 

nose models but newer builds are in high demand. 

Availability has reduced but market values remain 

stable since the previous reductions in Q4 2023. 

With early build offshore and corporate machines 

being replaced, availability of pre-owned AW139s 

is expected to increase in the next few years and 

secondary markets for the type will emerge. 

SIKORSKY S-76 



1996 S76C+ 2004 S76C+ 2012 S76C++ 

$3.15 

$2.67 

$1.74 $1.76 

$2.41 





$1.57 $1.57 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 


Sold For Sale 

3 

5 

3 4 

5 

3 

1 

2 

2 

1 

1 

2 4 

16 13 13 7 11 

15 

Jun 

Sep 

Dec 

Mar 

Jun 

Sep 

2022 2022 2022 2023 2023 2023 

2 

Dec 

2023 

3 

2 

Mar 


1 

13 12 

Dec 

2023 

Mar 


3 

$1.41 

$1.26 

Jun 


20 

Jun 


MARKET 

Mar-24 

Jun-24 





21 


3 

While the S-76 has reached the end of its 

production life, the type remains popular in 

offshore support and corporate markets. Low 

values make the type attractive for pre-owned 

buyers. Market values have remained stable 

since the previous reductions in early 2024. 

Availability has increased since Q1 2024. The 

S-76 has been superseded in the offshore market 

by newer models, and some lower time offshore 

examples being converted to corporate use. 



AIRCRAFT AVAILABILITY 

2022 

AIRBUS 

ACJ319neo 

SN 10673 

▪ Immediately Available & Turn-Key Ready 

for Delivery 

▪ One Corporate Owner Since New 

▪ Aruba P4-Registration 

▪ 19 Passengers Configuration 

Scan QR code for VR Tour 

2017 GULFSTREAM G650ER SN 6208 

▪ 17 Passenger 4-zone Configuration with Forward Galley 

▪ New Paint and Interior 2024 

▪ Engines enrolled on Rolls-Royce CorporateCare Enhanced 

▪ APU enrolled on JSSI 

Website: www.asianskygroup.com 

99 | ASIAN SKY QUARTERLY - SECOND QUARTER 2024 

Email: sales@asianskygroup.com

Asian Sky Quarterly 2024 Q2

Transform your PDFs into Flipbooks and boost your revenue!

Delete template?

Save as template ?