New business jet travelers help fuel order recovery during pandemic

October 26, 2020

MONTREAL (Reuters) - Affluent travelers avoiding commercial flights during the pandemic are helping fuel a recovery in pre-owned corporate aircraft transactions this year and reviving shoots of demand for new planes even as the business aviation industry braces for a slump in 2020 deliveries.

Jets built as corporate aircraft, which can carry from roughly a handful to 19 travelers, tout less risk of exposure to the coronavirus because their passengers can avoid airports and generally select who comes on board.

Pre-owned jet transactions are bouncing back to near 2019 levels, while lawyers and brokers are seeing orders for new planes trickling in after a pandemic-induced lull, generating cautious optimism for corporate planemakers as they begin reporting quarterly earnings this week.

“There’s just so much more activity than we anticipated four or five months ago,” said Don Dwyer, managing partner at Guardian Jet, which does aircraft brokerage, appraisals, and consulting.

“In April you could hear crickets chirping for new orders.”