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However, she recommended her customer to reduce the prices further, as the demand for large cabins for corporate aircraft is becoming weaker and weaker. New Global 5000 list for $US50.
"Iannarelli, creator of Houston-based aviation broker Par Avion Ltd, says there is no sign of a rebound at all on the horizon. What is more, there are no signs of a rebound on the upside. "Seldom seen deals for large commercial airliners are plentiful as the plummeting richness of petroleum, a strong US Dollar and a downswing for developing economies from Brazil to Russia paralyze aggregate demands. Proprietors of everything from overseas typhoons to Archer-Daniel-Midlands Co are trying to resell their airplanes, Bombardier Inc, General Dynamics Corp's Gulfstream Division and other airframe manufacturers are trimming production and cut listing costs to deal with a flood of new and used commercial airplanes.
In fact, the collapse extended to the Gulfstream G650 - just two years ago a plane so much sought after by well-heeled shoppers that a few tens of millions of dollars over the price of a used plane would cost them instead of waiting four years for a new one. Meanwhile 19 G650' are for sale, about 11 percent of the worldwide fleets are in use.
An aircraft from 2013, which was offered for sale for the first time in June at 68 million US dollars, had lowered its asking prices twice, to 58 US dollars. After the 2008/09 downturn, this marked a turning point when large aircraft - some large enough to carry almost 20 persons - survived the tempest better than smaller aircraft, which forced only five persons to get up in confined spaces.
Larger plane deliveries increased with the recovery of the economies of Brazil, Russia and other third world nations, an increase in the price of crude oils and a commodity booming that boosted China's strong export growth. Now that many newly industrializing nations have stalled, petroleum corporations are cutting cost and commodity values are falling, the tide has turned.
The price of used corporate aircraft with large cabins dropped by 16 percent last year, according to AircraftPost Inc, which collects information about the sector. Revenues from corporate aircraft declined 16 percent to $3 billion. 53 billion in the first three months, the largest decline in nearly five years, according to the General Aviation Manufacturers Association.
Large jetliners spearheaded the downturn. "Has the price gone down? I would say yes", says Steve Varsano, an airplane agent in London who helps with the sale of three used G650. Gulfstream, headquartered in Savannah, Georgia, has lowered output and pricing for its G450 and G550 cars, but does not plan to lower pricing for new G650 cars, said Phebe Novakovic, CEO of its General Dynamics family.
The Wynn Aircraft II LLC will discharge an extended-range version of the 650ER that will be sold for more than $70 million. Wynn Resorts Ltd, the Steve Wynn-led online gaming firm, refused to provide any comments on the sale. A 2008 Gulfstream G550 listed with Gulf States Toyota Inc, a Houston-based auto retailer, has fallen $750,000 to $US24.
According to aircraft brokers Mesinger jet sales, 95 million in about six month. Jay Mesinger, who is headquartered in Boulder, Colorado, says the mean value of a used aircraft is currently falling by about 8 percent to 10 percent per year, versus a decline from 3 percent to 4 percent before the slump.
" Older model pricing has fallen the most, says Neil Book, JSSI CEO, who owns 1,800 company, business and personal jet aircraft. One Gulfstream GV - one of the biggest and most widely used business aircraft - today achieves about $10 million, compared to $18 million two years ago, he says.
Bombardier aggressive pricing The main cause of price distortion wasombardier, say industry experts and advisors. Headquartered in Montreal, the firm produced overly corporate aircraft last year and has discounted strongly to procure currency while struggling with a C-Series airliner programme that is above target and behind schedules, according to Varsano and Rolland Vincent, an aviation advisor in Plano, Texas.
"Vincent, a former senior director at Bombardier and Providence Cessna Businessjet branch, Rhode Island-based Textron Inc., says there are some water bodies affected by sharks in this large cubicle around the $30 million to $40 million listing area. "It'?s very hostile right now, and bomberdier led the hostilities. "Commenting on the pricing of these jets, Anna Cristofaro, spokesperson, said that Bombardier's pricing was supported by the company's commitment to reduce production of wide-body aircraft last year.
It is estimated that Vincent will manufacture approximately 50 Globals, up from 80 last year. Given the large difference in prices between new airplanes and second-hand modern airplanes, it makes less of a difference for purchasers to buy airplanes directly from the plant, says Iannarelli, the brokers trying to resell a Bombardier 5000 from a Russia customer.