My boat, good starter boat that it was, sold for a 35% profit last week. I had it for 4 years so I expected to loose money. Things that are real and local… are now very valuable. Be it a dog, camper, convertible, bicycle or boat. People are spending money like never before.
If there are no further lockdowns things could pick up again nicely. Most of the people I know in GA are totally hooked like drug addicts. If folks fully understood the benefit of EASA part m light to the ownership mix, I think that would improve the attractiveness of owning an aeroplane. If I thought the bottom was about to fall out of it we wouldn’t be buying more stock every week. I could easily sit on the fence and broker stuff for a fee. This could all be a distant memory by Christmas.
WilliamF wrote:
I think that would improve the attractiveness of owning an aeroplane.
I just ended my CAMO contract and my log books are on the way to me…new, simple, sensible maintenance program drawn up and ready to go. Do you know if any Part 66 guys in Ireland are/ will be applying for ARC issue privileges?
zuutroy wrote:
I just ended my CAMO contract and my log books are on the way to me…new, simple, sensible maintenance program drawn up and ready to go.
I am in a CAMO primarily because I rent out my plane and for that it is required even under private ops. But I also have to say I am very happy with the way my CAMO takes care of my interests, in many cases better than I could. Things are very customer friendly there, ARC renewal, regular maintenance checks and remedies of intermediate stuff is done very efficiently and in the end the cost of CAMO has probably been absorbed by their good advice on how to maximize useful maintenance and avoid unnecessary stuff. In my experience a good CAMO is not a waste of money but something which might be quite useful for owners who themselves are not mechanics or aviation lawyers. They usually know better than the average owner how the system has to be worked in order to be as hassle free as possible, both in mechanical sense and in your dealing with the CAA. I don’t regret joining the CAMO for one minute so far.
zuutroy wrote:
Do you know if any Part 66 guys in Ireland are/ will be applying for ARC issue privileges?
Yes, Ollie McLoughlin is able to do it. He’s A1
What is everyone’s guess on how GA aircraft prices will develop? If an economic slump occurs, they should fall again, no?
I don’t think so. What will happen is that existing aircraft increases in value, relatively speaking. Only an economic boom will make new aircraft more “affordable”. More UL, more oldies, more experimental. The current trend will increase in speed.
My guess is economic slump and drop in prices for a few years.
Company failures are just beginning. Swissport Handling in Belgium bankrupt, leading to problems. Contractor on a major upgrade at Aberdeen Harbour pulling out , blaming Covid-19. Some Mall operators also in trouble, as well as some of their store tennants not reopening.
MedEwok wrote:
What is everyone’s guess on how GA aircraft prices will develop? If an economic slump occurs, they should fall again, no?
One would think so, but then there’s that:
WilliamF wrote:
My boat, good starter boat that it was, sold for a 35% profit last week. I had it for 4 years so I expected to loose money. Things that are real and local… are now very valuable. Be it a dog, camper, convertible, bicycle or boat. People are spending money like never before.
I think it’s too soon to tell. Here in the US a lot of people are having a very good pandemic, thank you very much. Stock market roaring ahead, interesting tax breaks for high earners hidden in the CARES act, recent employment figures up a lot, etc. Many (most) people who have lost their jobs are not really the core GA demographic. It – so far – mostly hit those at the bottom of the scale hardest, think restaurant employees. That said, if there is a significant second wave this may well turn catastrophic. In short – wait and see. We’ll know more by Christmas or early 2021.
MedEwok wrote:
What is everyone’s guess on how GA aircraft prices will develop? If an economic slump occurs, they should fall again, no?
Certified airplane prices will stay where they are as long as certification and insurance costs are the same and no mass production in numbers like cars can be achieved to offset against the development costs.
If the economy slumps, so will the manufacturers and simply die out.
We have to face it: private light GA is completely non-essential in crisis times. And many people will simply stop doing non-essential things if they run out of money or have the perception of running out.
The other aspect is the used market: There a slump may well occur and get the prices down.
