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.
RJ Gomez of Legacy Aviation Services said that despite overall business being down, transactions remain strong. “People are buying airplanes,” he said. Conversations with his title company confirm their business is up as well. Legacy put an 840 on the market and had offers immediately. It was under contract within two weeks.
With the high number of transactions, prices have remained high as well. Gomez said a good Model 1000 is going for $1.1 to $1.4 million.
Bruce Byerly of Byerly Aviation and the Naples Jet Center is usually an optimist when it comes to Twin Commander transactions, but even his enthusiasm was elevated at the thought of the market. “I’m on fire right now,” he said. “Commanders are awesome!”
He has six Twin Commander deals pending with more on the way. Byerly attributes strong Twin Commander transactions to the high level of support they receive in the service network. An airplane with strong factory support and expert maintenance resources around the world will always have the upper hand. He said that poor maintenance support for some airframes is killing their sales—what he calls the “normal story.” It’s another good reason to make sure your airplane is maintained by a Twin Commander Factory Authorized Service Center.
