G.Ziemelis: No More Need to Own a Private Jet
Owning a private jet has long been a symbol of wealth and success, but the market seems to be showing a rather drastic shift. According to JETNET, year over year, manufacturing companies are seeing decreases in the number of aircraft being purchased and newer models of aircraft especially are also seeing a significant drop in the number of aircraft being sold. In the first quarter of 2019, there were 620 fewer transactions, a 25% reduction, when compared to the first quarter of 2018. This decline was not expected, as the U.S. GDP increased 3.2%.