2024 recorded a little over 2,300 pre-owned transactions worldwide. This was a small increase over 2023 (+1.6%), and close to the numbers recorded in 2018 and 2020 (2257 and 2227 respectively). It is a 22% decline from the bubble peak of 2021. It seems very much that the transaction world has returned to a more traditional and average pace in line with longer term trends.
World Wide Transctions
Europe recorded 183 transactions to buyers based in its region – a 2% drop from 2023 and very similar to 2017 figures.
A first that occurred in 2024 was that South America bought more pre-owned aircraft than Europe. South America recorded 207 transactions compared to Europe’s 183. While one data point does not make a trend, it is a statement to the growing influence of the South American marketplace. Long distances, remote locations and far less developed commercial transport connections make South America perfectly suited for private aviation, so we expect this to continue into the foreseeable future.
Europe and South American Transactions
A second ‘first’ that occurred in 2024 was that Turkey accounted for more buyers than any other country in Europe, including the normal heavyweight Germany. Turkish buyers bought 34 aircraft in 2024 compared to Germany’s 21. A possible contributing factor to the increase in demand is the use of an aircraft as a currency hedge. Since February 2024 the Turkish Lira has depreciated 20% against the dollar and 50% against the dollar since February 2023. Aircraft, traded in dollars, become a highly mobile currency hedge if the Turkish Lira continues its decline as they can sell in the future for larger amounts of Lira due to currency movements.
– This article is taken from Fly-By Newsletter Issue 25.