MONTREAL, Feb 22 (Reuters) - The market for higher-end, pre-owned business jets is beginning to favor sellers, after years where buyers had the upper hand because of elevated supply, Bombardier Inc’s chief financial officer said on Thursday.
“You’re starting to see that turn into being a bit of a sellers’ market on the used side, for good aircraft anyway,” CFO John Di Bert told the Barclays industrial conference in Miami.
“That absorbs a lot of demand that was out there.”
Canada’s Bombardier, one of the world’s largest makers of business jets, in addition to commercial planes and trains, previously had $500 million in used aircraft inventory but is now “fully sold out,” Di Bert said. (Reporting By Allison Lampert)