Analysis from Colibri Aircraft reveals there are only 142 pre-owned private jets for sale in Europe right now, 42% lower than in December 2019 (243 jets), and 31% lower than December 2020 (207 jets).

Colibri also revealed that Germany, The Isle of Man, Austria and France have seen the biggest fall in the number of pre-owned jets for sale. In December 2019, they had 104 aircraft for sale across the jurisdictions, now in September 2021 that figure has dropped to 51 aircraft.

On the other hand, Malta, Estonia and Ireland all saw an increase in the number of pre-owned jets for sale.

Oliver Stone, managing director, Colibri said: “We have been operating for over 10 years now, and this is probably the most difficult environment we have encountered by buying private jets ——particularly for European compliant aircraft.

“We are having to rely on or extensive contacts and expertise to source reliable aircraft for clients who want to buy, and on the flip side we are ensuring that those clients who want to sell their aircraft are securing the best possible price,” Stoned added.

Colibri Aircraft says the decline in the number of pre-owned jets is a global issue, and there are a variety of factors behind it.

Key factors driving the dramatic drop in the supply of private jets for sale was a strong desire to travel in an environment with far lower risk of covid transmission, according to Colibri. Also a significantly reduced airline service meant that more owners of private jets kept hold of their aircraft and a large number of first time buyers entered the market.

Surging asset prices in stock markets and real estate, historically cheap debt due to government stimulus, and depreciation benefits that applied to private jet purchases removed many of the financial pressures some owners might have been under to sell their aircraft in more normal circumstances and also encouraged new buyers to act, said Colibri.

Also, the number of new private jets being delivered has fallen – it was down by around 20% when compared to 2019, which is the lowest level since 2004.