Buyer’s Market For Used Business Jets Will End Soon. The buyer’s market for used business jets may soon be coming to an end according to JetNet’s latest report given that the used business jet inventory had dropped 1.2% in May down to 14.2% (it should be noted that 12% is considered a healthy rate). However, used business jet prices are also off by 26.7% but turboprops have held their value much better and are only off by only 4.7%.
China and Other “BRICs” Set for Explosive Business Jet Growth. Meanwhile, AVweb has noted that 80% of the world’s business jets may be operated in the US but the business jet market is dramatically shifting. In fact and in 2006, 72% of business jets went to US customers but this number fell to just 41% in 2010 thanks to strong sales to both European and “BRIC” (Brazil, Russia, India and China) countries. However, China is expected to have 50% annual growth rates for business jets and by 2014, there should be about 500 business jets operating in the country.
First Chinese Citizen to Fly Around the World. Nevertheless, General Aviation News has reported that businessman Wei Chen will soon be the first Chinese citizen to fly around the world in a single-engine TBM 700 aircraft. Wei Chen, who is the founder and owner of Sunshine Enterprises, a company with offices both in China and Memphis, will cover 41 stops in 21 countries in 69 days. His journey can be followed at WeiAroundTheWorld.com
Watching the Final Space Shuttle Launch. On a different note, Steve, the blogger behind a mile of runway will take you anywhere blog, has posted a bunch of pictures (and one video) from his trip to see the last Space Shuttle launch.
New Vintage Pilot Watches Debut. Finally, General Aviation News has announced the debut of the new Christopher Ward C8 Pilot Mark II Vintage watch which is based on the iconic IWC B-Uhren watches that were used by both pilots and navigators during World War II. In fact, the watch’s design has many of the characteristics of watches that were commissioned by both the Luftwaffe and the RAF. Moreover, they were intended to be worn over thick flying suits and hence, they had large watch faces in order to provide their wearers with maximum visibility. For more information, visit ChristopherWard.co.uk.