Tuesday, Jim Cooling, senior partner of Cooling & Herbers, a Kansas City-based aviation law firm, told AWIN that his firm is experiencing a pronounced uptick in the demand for aircraft sales contracts.
"Everybody wants to buy at the bottom of the market. People are seeing a turnaround and they don't want to miss the opportunities."
Six months ago, Cooling & Herbers opened a Wichita branch in anticipation of just such a turnaround. Now the investment is starting to pay off. Recently, the firm completed sales contracts for a new Hawker 750 mid-size jet and a new Cessna Citation CJ3. In December 2009 the firm also completed sales contracts for two new Gulfstream G550s purchased by a large east coast firm as well as an additional contract for a late model Falcon 900B sold to another firm.
These developments, coupled to this week's news regarding a turnaround in the bond market, provide additional evidence of economic recovery in both the US economy and business aircraft industry sector.