December 28, 2022
Private Jet Registration Extended to 7 Years; Industry Asks for 5G Deadline Extension; Used Private Jet Inventory is Up
Keep Up on the Latest Business Jet News with AircraftExchange and IADA
The aviation industry experienced sweeping changes in 2022 - and keeping up with them in coming years will be challenging for business jet owners. To help consolidate the latest news, AircraftExchange has assembled three important stories here for you.
As always, consult your private aviation service providers to learn how these changes can affect your business and your fleet of private jets.
All About the New Seven-Year Private Jet Registration Rule
Traditional aircraft and large drone owners will now need to renew their registration certificates with the Federal Aviation Administration (FAA) every seven years, with exception for extenuating circumstances, such as if the registration is deemed inaccurate.
“The new rule applies to both new registrations and extends the durations of current certificates,” the FAA explained.
What Does This Mean for My Private Jet?
This means a business jet registration issued in 2021 is extended to 2028. The new rule also removed the requirement that the FAA issue a letter to extend temporary authorization if the registration was neither issued nor denied within 90 days of application.
The FAA’s registration extension begins January 23, 2023, after a 30-day comment period. There was no publication in the Federal Register for this extension.
Were You Ready for the 5G Deadline?
Back in November, major players in the aviation industry requested an extension on the 5G retrofit deadline, which is set to expire at the end of 2022.
Air carriers and jet owners were asked to retrofit their aircraft to prevent 5G C-band wireless service interference. However, supply chain issues have made it difficult - if not impossible - to meet this deadline. As of writing, the deadline was not extended.
How 5G Affects Private Jets
5G signal interferes with radio altimeters, a safety hazard in low-visibility situations, rendering the aircraft unable to land. In the beginning of 2022, wireless companies voluntarily reduced 5G tower power near airports while they developed ways to prevent the interference. Despite these efforts, the FAA has documented more than 100 incidents, affecting radar altimeters and terrain avoidance warning systems (TAWS).
If your private jet takes off and lands at major airports and is equipped with these systems, 5G interference could affect it. Seek out the assistance of a jet maintenance and upgrade service to ensure your private jet fleet is in compliance with the new requirement.
Used Private Jet Inventory Climbs - Along with Prices, Too
In 2021, numbers of listings of used private jets for sale were the lowest in history, but at the end of 2022, the industry saw a 14 percent year-over-year increase, with available inventory up 31 percent. Pricing, too, is up 21 percent from last year.
Although these numbers are promising both for private jet sellers and those looking for used private jets for sale, the fact is that only 3.3 percent of all available aircraft are for sale; the five-year average is 5.9 percent. Inventory of heavy jets is the largest, increasing by 27 percent, with major demand for the Cessna Citation, Bombardier, Embraer, Gulfstream, and Dassault makers.
Which Used Private Jet Price Increased the Most?
Although prices rose across all used private jet makes and models, the Bombardier Learjet line topped the list. Bad news for those looking for their own Learjet; their prices rose 113 percent year-over-year in December 2022.
Expanding Your Business Jet Fleet in 2023? Shop on AircraftExchange.com
Businesses and individuals seeking to purchase used private jets in 2023 can ensure they’re getting the best deal and most ethical transaction by shopping on AircraftExchange.com, the exclusive listing site of the International Aircraft Dealers Association (IADA) Accredited Aircraft Dealers.
Each used private jet for sale on AircraftExchange is carefully vetted, including an examination of serial numbers, tail numbers, and other features to ensure each listing is valid. Each listing features relevant data to aid in your decision-making, including airframe, maintenance tracking, cycles, hours since new, avionics, navigation, total hours, and more. Also included are interior features of the aircraft, with clear photos that show condition and finishes.
Why do we go through all this trouble? Because IADA Accredited Dealers hold themselves to a higher standard, vowing to meet the code of ethics set forth by IADA. They are respected industry leaders whose peers recognize their experience and success.
To find an IADA Accredited Aircraft Dealer, review our list of worldwide dealers on AircraftExchange.com.