private jets

There are approximately 11,000 business jets in the wordwide fleet with the vast majority of them based in the United States or owned by US companies. The European market is the next largest, with growing activity in Asia and Central America. There is an active pre-owned marketplace in which aircraft are bought and sold based on their immeidate deliverability because new aircraft orders often take two to three years for delivery.

A large portion of the resale market is handled by members of an organization called the National Aircraft Resale Association (NARA [www.pre-ownedjets.com] ) which is dedicated to the ethical and professional conduct of pre-owned aircraft transactions. The Association was organized for the specific purpose of promoting a consistently high set of ethical standards in buying and selling business aircraft and to communicate those standards to the marketplace. Over 80% of business aircraft sales are handled by the broker/dealer network, and thus buyers and sellers tend to seek representation through a broker or dealer that meets the ethical and professional standards of NARA membership. NARA also has an office in Washington DC where it stays actively involved in communicating the needs of business jet owners and operators to policy-makers and legislators.