New research1 from Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, reveals that 16% of the mid to heavy private jets in Europe are aged 20 years or older, and 8% are at least 30 years old. The average age of a business jet in the region is 26 years.
Global Jet Capital says there is a significant market in Europe of private jet owners considering upgrading their aircraft. Mid to large private jets typically cost between $25 million and $75 million each, and up to 80% of the funding used to purchase these is sourced through external financing.
Across Europe, 134 medium sized jets (26%) are at least 20 years old, and the corresponding figure for heavy jets and business jet airlines are 90 (8%) and 40 (63%) respectively.
When looking at the region’s fleet that is at least 30 years old, 100 medium sized jets (20%) fall into this category. The corresponding figures for heavy and business jet airliners are 18 (2%) and 18 (28%).
Dave Labrozzi, Chief Operating Officer of Global Jet Capital said:
“A number of owners of these older mid to heavy jets in Europe will be looking to sell and upgrade to newer aircraft. We have significant funds available to lend to them and other clients around the world.”
| Country | Age of fleet |
| Germany | 26 |
| United Kingdom | 26 |
| France | 26 |
| Switzerland | 24 |
| Austria | 21 |
| Italy | 24 |
| Russian Federation | 25 |
| Spain | 26 |
| Portugal | 22 |
| Belgium | 25 |
| Rest of Europe | 26 |
| ALL EUROPE | 26 |
| Global fleet | 32 |
Global Jet Capital is one of the only dedicated aviation finance specialist to operate on a global basis. With an extensive team which has a wealth of experience funding a wide variety of aircraft types, the company recently completed the purchase of the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas. This represented approximately $2.5 billion of net assets, and the company has a further $1 billion to lend to clients to purchase relevant business aircraft in Europe and elsewhere around the world.
Global Jet Capital, which was launched in 2014, is capitalized by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners*; The Carlyle Group; and AE Industrial Partners.
The company’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.
Notes to editors
1Global Jet Capital analysis of JetNet data, April 2016