What Happened
Overhauling Pre-Owned Planes Saves Time And Money For Owners
The private aviation industry is experiencing a surge in pre-owned jet refurbishments, driven by long production backlogs and high new-jet pricing. Owners can update their aircraft for a fraction of the cost of a new one, with popular models including the Gulfstream G550 and Bombardier Global 6000. Refurbishments can include interior and exterior updates, new avionics, and mechanical overhauls, with costs averaging around $5 million. This trend is complementing new-aircraft sales, not superseding them, and owners seem highly satisfied with the results. According to an article in Robb Report, this shift towards refurbishments may be a game-changer for the industry.