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(Reuters) - Preowned business jet prices are seen stabilizing in 2021, boosted by a December blitz of orders, after COVID-19 depressed demand and pricing last year, analysts and executives said.
New entrants to the business jet market and U.S. buyers rushing to take advantage of favorable tax rules they feared could change under the new Biden administration fueled a December rush.
"It was the busiest month I have ever seen in my 20 years of practice," said Amanda Applegate, a partner at Aerlex Law Group.
Some executives have seen continued demand from wealthy individuals in January, although corporate demand was sluggish.
The surge could help pricing and orders for new jets this year, following a decline in 2020 deliveries of new aircraft that analysts put at 20% to 30%.
Don Dwyer, managing partner at Guardian Jet, sees "pent up demand" this year for new planes following a December surge in preowned deals that continued into January.
"There wasn't a year end," he said. "It just kept going."
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