Bombardier last week rolled out a new Certified Pre-Owned Aircraft program offering its customers a “like new ”premium class of pre-owned products each “meticulously selected, inspected and updated” Learjet, Challenger, and Global jets in accordance with Bombardier’s highest quality and safety standards along with a one-year warranty.
With the new program, customers can discover the high-quality array of available Bombardier business jets and sign up to receive alerts when an aircraft becomes available. The Montreal-based manufacturer will refurbish and provide services to help the airplane retain its residual value, including to ensure that it is up to date with maintenance inspections, service bulletins, system upgrades, and enrolment in Bombardier’s Smart Parts program, as required. Other services range from a complimentary deep cleaning to refurbishment of the interior.
“As life gradually begins to return to normal, the supply of business jets across the industry has been outpaced by demand,” said Chris Milligan, Vice President, Pre-owned Aircraft Services, Bombardier.
“A Bombardier Certified Pre-owned aircraft provides buyers with the highest quality pre-owned product, equipped with the latest safety and cabin enhancements – while providing the new aircraft delivery experience customers are looking for”
The program builds on Bombardier’s ongoing efforts to work with its customers on preowned aircraft, the company said. “We’ve been facilitating the sale of our customers’ preowned aircraft for more than 35 years. We have the knowledge and the expertise and creating a certified preowned aircraft program was the logical next step for us,” the company said.
The launching of this program follows the recent release of its first Bombardier Preowned Market Report, which traces sales activity for its fleets. The report breaks down the market by model, detailing available aircraft, pricing trends, days on market, and several other factors such as Smart Parts enrollment. The report is intended to provide buyers with a picture of market activity for various Bombardier models.
In the first report, dated April 2021, most of the models tracked had a saturation rate of between 4 and 9 percent, well below historical averages for the overall preowned market. The exceptions were the Global Express and Global XRS, which had slightly higher rates at 10.4 and 11.4 percent, respectively.
As Bombardier winds down Learjet production, a couple of models tracked were holding up strongly in the market, with the average pricing for the Learjet 60XR increasing 7 percent since the end of 2020 while the available inventory declined 42 percent during that same timespan and 65 percent since 2019.
“Bombardier’s Certified Preowned aircraft program is capitalizing on a resilient market where supply still hasn’t caught up with demand,” noted Jean-Christophe Gallagher, executive v-p of services and support, and corporate strategy for Bombardier.
“With so many new prospective buyers on the market, Bombardier can fulfill this demand and harness our world-renowned product knowledge, refurbishment capabilities, and valuation know-how.”
Bombardier will offer aircraft acquired in trade, as well as seek available aircraft on the open market, it said, adding the program is limited to its own models.
“This is a Bombardier initiative put in place to upgrade our current fleet in operation, thereby maintaining and increasing the overall residual value of all Bombardier aircraft,” the pure-play business jet company said, noting it has already delivered its first program aircraft. “Moreover, by diversifying our product offerings, we strengthen the connection with our customers and set the stage for long-term client retention.”
Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.
By Victor Shalton Odhiambo
