FLYING Magazine

Boeing Business Jets (BBJ), a unit of Boeing (NYSE: B.A.), is now a member of the International Aircraft Dealers Association (IADA), the business jet organization announced Monday.

The move makes the aircraft manufacturer the most recent OEM to join IADA’s fledgling network of accredited aircraft dealers.

The news comes just weeks after BBJ announced during the National Business Aviation Association’s Business Aviation Convention and Exhibition (NBAA-BACE) in Orlando that since April 2020, the demand for transport category business jets around the world has increased to near the pre-pandemic high.

READ MORE: Boeing Sees Strong Demand for Bizliners

Upon joining IADA, BBJ President Erika Pearson said that BBJ was happy to be a part of the trade group, adding that “the organization of airplane transaction experts has become a force in promoting transparency and integrity in aircraft sales.” Pearson also shared that BBJ hoped to work with other IADA members to support customers’ aircraft buying and selling.

Boeing Business Jets officials said during NBAA-BACE that nearly 75 percent of all widebody business jets sold in the last 21 years had been Boeing Business Jets, including the 787 Dreamliner and the Boeing 777. Overall, Boeing said it sold more than 260 transport category business jets to customers including heads of state, private users, and some corporate customers. 

Additionally, it shared that it secured four orders for BBJ 737 MAXs, with deliveries underway.

IADA Executive Director Wayne Starling welcomed the OEM to IADA and said, “our OEM members are the world’s leading business jet manufacturers that have established exceptional professional global aircraft sales networks.”

READ MORE: IADA Reports Strong Third-Quarter Aircraft Sales

Dealers Expect Busy Fourth Quarter

In their third-quarter update, IADA reported 331 sales transactions, which is nine fewer than the 340 reported during the same period in 2021. At the time of reporting in October, IADA said its dealers completed 929 deals, 60 more transactions than during the same period in 2021.

Fourth quarter sales are expected to be especially active, driven by the phasing out of the 100 percent bonus depreciation tax provision in the U.S., according to IADA chair Zipporah Marmor.

The bonus depreciation tax provision allows businesses to immediately deduct up to 100 percent of the purchase price of eligible assets.

The post Boeing Business Jets Joins IADA as latest OEM member appeared first on FLYING Magazine.

Read More