NARA Members Increase Stake in Used Sales

The nearly 30 broker and dealer members of the National Aircraft Resale Association accounted for almost one-fifth of total worldwide sales of previously owned business jets in 1997, and close to one-tenth of worldwide sales of corporate turboprops, according to NARA officials.

The value of these sales totaled $1.4 billion.

Figures from AMSTAT, a research organization providing statistics on the business aviation market, show there were 1,525 used jet and 1,312 used turboprop transactions in 1997, an increase of 14.5 percent and 9.1 percent, respectively, from 1996 figures. NARA officials report that the group's members sold 266 jets and 111 turboprops in 1997, representing 17.4 percent and 8.5 percent, respectively, of total market activity.

"A strong economy prevails," commented NARA President Nick Cerretani, "and with it, a sound demand for good airplanes. Prices remain firm and NARA members expect brisk sales activity and a continued strong market for preowned aircraft in 1998."

By Gordon A. Gilbert