Prices of some of the world’s best known business jets have plunged to remarkable lows as the stumbling global economic recovery puts a brake on spending by even the wealthy.
A one-year-old Learjet, that costs up to $13m new, can now be bought for as little as $8m, according to North Carolina-based business jet brokerage, Jetcraft.
“That’s a huge gap between new and pre-owned pricing,” said Jahid Fazal-Karim, Jetcraft co-owner, adding that similar discounts are being seen for other light and medium-sized executive jets.
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