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The aircraft had flown just 30 hours and was bought for cash for a significant discount to 2008 prices. EAG is working with other buyers who recognise the unique buying opportunity and continues to scour the aviation world looking for aircraft on behalf of clients.
says Steve Hartley, Executive Director at Empire Aviation Group.
"We are focusing now on saving significant sums for our clients as we source aircraft worldwide. There are still a lot of buyers for pre-owned and new business jets. For EAG, 2009 will be an outstanding year for our aircraft sales division, with at least three new aircraft in the order book for delivery this year, in addition to the pre-owned aircraft sales in the pipeline."
According to Empire Aviation Group, the buying opportunity is especially attractive to private individuals who are cash buyers, as multinational companies continue to downsize and sell off assets. For buyers who require it, finance is still possible although not as easy or available as before, and the buyer will probably need a cash deposit of around 40% of the purchase price.
"It's a buyers' market right now with prices of pre-owned aircraft at around 20% lower than the 2008 prices. This represents a tremendous opportunity which we are taking advantage of in order to create value for our clients. These are the lowest prices we are ever likely to see for business jets and with aviation fuel prices at less than half their peak levels in 2008, and charter prices adjusted accordingly, private aviation continues to hold its own. As a result, we expect 2009 to be the company's best year since we began operations," says Steve Hartley.
The Gulfstream G550 is a large cabin, ultra long range business jet which can comfortably link major cities such as Dubai-Washington DC, London-Singapore, Tokyo-Paris, non stop. It can be configured for up to 18 passengers.
The Empire Aviation Group acquired Gulfstream G550 will be managed by the owner, based outside the Middle East.
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Posted by Nadeen El Ajou
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