The pace of used aircraft sales picked up sharply in June and July after doldrums in April and May brought on by the COVID-19 pandemic and its economic impact.
Dealers accredited by the International Aircraft Dealers Association (IADA) closed 103 sales transactions in July, more than three a day for every day of the month. In June association members closed 74 deals.
Those 177 deals in the past two months compare with 100 total in April and May, a 77% increase over the two-month period, IADA officials note.
In addition, August began with 87 additional aircraft under sales contracts, officials added.
And fewer deals fell apart in June and July — 27 versus 38 in April and May, they said.
“Our dealers reported exceptionally brisk activity in June and July after a protracted period in March, April, and May where the deals were much harder to put together,” said IADA Executive Director Wayne Starling. “IADA dealers also experienced a reduced percentage of deals where lowered prices were integral to completing the deal.”
IADA is a professional trade association formed more than 25 years ago, promoting the growth and public understanding of the aircraft resale industry. According to association officials, IADA offers the world’s only accreditation program for dealer organizations and the only certification program for individual brokers.