It’s a situation almost no one predicted. Despite a worldwide global shut-down, extensive cross-border restrictions, and little domestic tourism or face-to-face business, aircraft transactions are extremely active.
Many aircraft finance companies report year-over-year improvements in inquires and funding, and in the Twin Commander market transactions are a welcome bright spot. Jim Worrell, Eagle Creek Aviation’s aircraft sales director, said activity is up nicely from the second quarter. He has two Twin Commanders in pre-buy inspections now, including one that is going to Brazil. The forestry contactors are starting to make inquires for next season, aerial survey is going strong, and personal transactions are continuing as well.
The only exception to that solid pace is continued constraints on certain international transactions. “I can’t do business with Canada,” he said. Another customer wants to sell his airplane but doesn’t want to come to the country in case he gets stuck. Despite that, Worrell reports activity higher than it was at this time last year.
With the high number of transactions, prices have remained high as well.