JetSwiss Pilatus PULSE - November 2023

Page 1

PUBLISHED BY

JETSWISS AVIATION

PILATUS MARKET DATA | NOV 2023

THIS MONTH’S BACK PAGE FEATURE:

PRE-OWNED PILATUS MARKET: FATHER AND SON FLYING

WE ARE SO VERY THANKFUL


INTRODUCTION

PILATUS PC-12 MARKET OVERVIEW FOR NOVEMBER 2023 FATHER AND SON FLYING Market Overview Appetizer Welcome to the Thanksgiving issue of the Pilatus Pulse. I’d like to apologize in advance to those who were looking for earthshattering market data this month. We are going to be brief on the market recap and then spend our time together focused on what we’re all thankful for… family. With that said, we must shed light on the market as it does continue to move and shake. For the second consecutive month, pricing in the /45 and NG market (78% of PC-12’s) has dropped at an average rate of 2.5% month over month. While pricing has dropped, inventory has increased for the 11th straight month—18 airplanes entered the market in October while only 11 were sold. Late Q3 and early Q4 transaction volume has increased and we’re basically on par with last year. We expect the end of year to lag last year a bit resulting lower year over year totals but still very strong considering the current interest rate and tax environment. Overall, supply & demand market dynamics are in full force and we’ve entered a much more balanced market. As always, if we can shed any additional light on the market, values, or trends, don’t hesitate to give us a call. Thankful That Aviation is a Family Affair Put aside market values, trends, buy/sell opportunities, etc. More important than any market dynamic or plot on a graph is the simple fact that aviation brings people together. Whether it’s the opportunity to travel and spend quality time with those we care about, or the opportunity to get home to those we love. Aviation allows us the opportunity to recapture time and moments. This enables us the prospects to grow our business and enrich our personal lives. Many of you reading this today have chosen the PC-12 as your means of executing this exact scenario. My favorite aspect of our Pilatus ownership group are the people. More so than any other market segment or ownership group I’ve ever been involved with, Pilatus owners are humble, hardworking, and small business owners. They’re the type of folks I’d like to go to a ballgame with or have a beer and talk about life. Most Pilatus owners built their business from the ground up. Some are second/third generation and have taken the ethos their parents instilled in them and taken the family business to greater heights. We’ve had the great fortune to work with several father/son combinations in recent years. Their businesses range from tire distributors, sheet metal manufacturers, oil and gas marketers, convenience stores retailers and general contractors. All American Made businesses, with stories that need to be told. All

1

PILATUS@JETSWISS.COM

|

913-839-2627

these businesses have a few things in common. First, they’re family owned and operated with the patriarch of the family still going to work on daily basis (one is 90+ years old). Second, they value their time and have chosen a PC-12 as their means of acquiring that time. One of our clients cherishes the fact he gets to go to work with his son daily and also share in their passion for aviation together. “Proud” and “Fortunate” were the words he used to describe this dynamic. “To have someone take the torch from you and carry it forward with a fresh set of legs and someone that understands the responsibility and level of effort it took to create the opportunity” is what makes him proud. “He [my son] doesn’t take it for granted.” Mark Tate, with T-Top Manufacturing, was able to share in the acquisition of his PC-12 with his son Austin. “As a father, we always want to do everything we can to see our kids succeed in life. Austin’s passion is flying, and since his mom and I enjoy traveling, getting the PC-12 was a very big WIN-Win for all of us.” “My Dad taught me everything I know. From how to throw a baseball, to how turn a wrench to how stick a landing in a Piper Cub” stated one of our clients. “To get to go to work with him and help lead our company into the next generation is a dream come true. The Pilatus helps us in achieving our goals. I’ll tell you my wife and kids love it as dad gets to come for dinner.” Recently I was having a discussion with one of our clients about family. He created an analogy which has stuck with me. He said, “My goal in life is to have a crowded table.” I thought, wow, you’re absolutely correct. We all go to work every day to provide for our family. Our goals are all similar, to establish a safe and healthy environment for our kids to grow and prosper. With the ultimate goal being they’ll come back to our table. Aviation isn’t the reason our tables will be crowded but it certainly plays a part in helping us get there. This Thanksgiving, I think we should all take a moment to really think about what it is that’s important to us. As Bub always says, let’s look at the equal sign and work our way backwards. If our equal sign is our family sitting around the Thanksgiving Day table laughing, crying, and laughing some more then what does it take for us to get the answer to that equation? For some, aviation may play a small role. For others, it’s a major component. But let’s not lose sight or take for granted all the components that help us in achieving our life goals. All of us at JetSwiss are wishing you a safe, healthy, and happy holiday season.


M A R K E T AT A G L A N C E

MARKET CHANGES IN THE LAST 30 DAYS BY MODEL YEAR

20 2000 2001 2002 2004

NEW ENTRANTS TO MARKET

2004 2007 2007 2008

2009 2009 2011 2011

2013 2015 2016 2017

12 1996 1998 2007 2008

20%

2018 2021 2021* 2021*

UNDER CONTRACT

2009 2009 2011 2014

10%

2017 2020 2021* 2021*

12 2002 2009 2009 2009

SOLD FROM MARKET 2011 2017 2018 2018

2020 2021 2023 2021*

18%

*PC-24

WWW.JETSWISS.COM

2


CURRENT MARKET PRICING

A I R C R A F T TOTA L T I M E V S . A S K I N G P R I C E

Asking Price By Total Hours $9,000,000 $8,000,000

Similar to the Asking Price vs Model Year chart, this information helps our clients determine “the mileage on the car” for their specific budget. “Want to own a low time aircraft?” This chart will give you an indication on what you will spend. Note: aircraft under 1,000 hours total time historically yield much higher prices.

$7,000,000

Asking Price

$6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000

0

2500

5000

7500

Under Contract

10000

Total Hours

No Contract

JETSWISS

SEES MORE

PRE-OWNED

PC-12

TRANSACTIONS

THAN ANYONE IN THE WORLD.

3

PILATUS@JETSWISS.COM

|

913-839-2627

12500

15000

17500

20000


/45’S AND NG’S SAW A

REDUCTION IN PRICE FOR THE

SECOND CONSECUTIVE MONTH.

ASKING PRICE BY MODEL YEAR

Asking Price By Model Year

$9,000,000 $8,000,000 $7,000,000 $6,000,000

Asking Price

This chart reflects the current market for Pilatus PC-12 aircraft that are on the retail market. Want to know how much your Pilatus dollars will buy? This is a great place to start. As you can see, the aircraft model year plays a key factor in pricing of the aircraft, and thus generates a commensurate trend curve. This data provides a baseline for our aircraft evaluations.

$5,000,000 $4,000,000 $3,000,000 $2,000,000

$1,000,000 1990 Under Contract No Contract

1995

2000

2005

2010

2015

2020

2025

Model Year

WWW.JETSWISS.COM

4


T R A N S ACT I O N A L DATA

ASKING PRICE BY MODEL

AV E R AG E AS K I N G PR I C E SINCE LAST MONTH

$14,000,000

$3.184M

2.5%

$3.935M

2.2%

$4.858M

.5%

$7.232M

2.5%

$12.705M

1.3%

PC-12/45

$12,000,000 $10,000,000

PC-12/47

$8,000,000

PC-12NG

$6,000,000 $4,000,000

PC-12NGX

$2,000,000 $0

PC-12/45

PC-12/47

Max of Current Ask Price

5

PILATUS@JETSWISS.COM

PC-12NG

Avg of Current Ask Price

|

913-839-2627

PC-12NGX

PC-24

Min of Current Ask Price

PC-24


WHERE IN THE WORLD IS YOUR NEXT PILATUS?

We are always on the search for great pilatus projects for great people. Whether you’re looking to buy or sell, we’d like to start the conversation!

TALK TO THE EXPERTS. 3.5% of the Pilatus fleet is for sale. 35% of JetSwiss projects sell to owner pilots. 23% of PC-12 pre-owned transactions are JetSwiss projects.

SCAN FOR YOUR COMPLIMENTARY AIRCRAFT EVALUATION.

WWW.JETSWISS.COM

6


PC -24 CURRENT MARKET PRICING

PC-24

OWNERS UPGRADE FROM THE PC-12NG MORE THAN ANY OTHER AIRCRAFT.

13

243

TOTAL NEW DELIVERED

PC-24 BY THE NUMBERS

AVAILABLE FOR SALE

A S K I N G P R I C E BY TOTA L H O U R S

Asking Price By Total Hours

$17,000,000 $15,000,000

Similar to the Asking Price vs Model Year chart, this information helps our clients determine “the mileage on the car” for their specific budget. “Want to own a low time aircraft?” This chart will give you an indication on what you will spend. Note: aircraft under 1,000 hours total time historically yield much higher prices.

Asking Price

$13,000,000 $11,000,000 $9,000,000 $7,000,000 $5,000,000 $3,000,000 $1,000,000

0

For Sale Under Contract

7

PILATUS@JETSWISS.COM

|

913-839-2627

500

1000

1500

Total Hours

2000

2500


ASKING PRICE BY MODEL YEAR

Asking Price By Model Year

$15,000,000

This chart reflects the current market for Pilatus PC-24 aircraft that are on the retail market. Want to know how much your Pilatus dollars will buy? This is a great place to start. As you can see, the aircraft model year plays a key factor in pricing of the aircraft, and thus generates a commensurate trend curve. This data provides a baseline for our aircraft evaluations.

$13,000,000

Asking Price

$11,000,000

$9,000,000

$7,000,000

$5,000,000

$3,000,000

$1,000,000 2018 For Sale Under Contract

2019

2020

2021

2022

2023

2024

Model Year

THE PC -12NGX WAS

SECOND BEST SELLING AIRCRAFT IN THE WORLD IN 2022. T H E P C -24 WAS

NINTH BEST.

WWW.JETSWISS.COM

8


P I L AT U S DATA

FLEET LOCATION

PC-12 AND PC-24 AS OF OCTOBER 2023

368 1,551

58

76

73

9

92

BREAKDOWN BY REGION

PC-12/45

PC-12/47

PC-12NG

PC-12NGX

PC-24

NORTH AMERICA

476

160

596

181

138

EUROPE

22

11

164

90

81

AUSTRALIA

20

7

47

10

8

AFRICA

20

10

34

5

7

SOUTH AMERICA

9

4

35

17

8

ASIA

5

1

44

4

4

PILATUS@JETSWISS.COM

|

913-839-2627


5%

TIME ON MARKET

B R E A K D OW N O F DAY S O N M A R K E T F O R P I L AT U S P C -1 2

18%

27%

23%

16%

0-30 Days on Market 31-60 Days on Market 61-90 Days on Market 4-6 Months on Market 7-12 Months on Market

11%

WWW.JETSWISS.COM

10


I am incredibly thankful to have spent all these years working with my dad and to have such a close relationship with him. MARK JOHNSON JETSWISS CLIENT

I’M THANKFUL FOR OUR AMAZING PILATUS CLIENTS! DIANA SMOTHERMAN CLIENT RELATIONS MANAGER

“I am thankful for a work fam I truly enjoy working and hanging with.”

I’M THANKFUL

FOR THE GREAT PEOPLE AND

GREAT AIRCRAFT WE ARE BLESSED TO WORK WITH.

CLAIRE HARRISON MARKETING DIRECTOR

I’m thankful for all of you guys. This is truly the best group of people and I love being a part of such a dedicated team. LORAN LONERGAN OFFICE MANAGER

DON PETERSON FOUNDER & ENTHUSIAST

“I’m thankful for the freedom and fun we get to have together in this workplace.”

THANK

FUL Here are some things that we at JetSwiss are so very thankful for...

I AM THANKFUL THAT EVERYDAY I GET TO WORK WITH AIRPLANES (IN PARTICULAR THE PC-12)! HOW COOL IS THAT?! SCOTT GLENN SALES DIRECTOR

I’M THANKFUL FOR

THE OPPORTUNITY

FLYING HAS GIVEN

“I am thankful for the people I get to work with and meet.” SCOTT PATRICK DIRECTOR OF OPERATIONS

ME TO CONNECT WITH LONG-

DISTANCE FRIENDS.” GAGE PALMER PILOT

CARLIE KOZIOL MARKETING COORDINATOR

®

LE AVE TH E NA VI G A TI NG TO U S

®

Sign up to receive this publication to your inbox at jetswiss.com/pilatus-pulse.

We appreciate your feedback! Please send any feedback to Pilatus@jetswiss.com.


Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.