More Airplane

An economic times like these, its more than a little disheartening each month to receive so many brokerage statements covered in so much red ink. Looking at my airplanes value-probably less than what I paid for it 10 years ago, minus all the improvements made-doesnt provide much consolation. Two things make all of this less unbearable. First, Im not alone. Any aircraft owner has seen his or her flivvers value drop in recent months. At least mine hasnt dropped as far or as fast as some others (can you say "business jet?"). Second, despite last summers meteoric climb, avgas prices remain relatively reasonable, at least in my part of the U.S. A third, unrelated thing is the airplane doesnt need anything. Ive spent time, money and effort getting and keeping it well sorted out, expenditures paying off in reliability and performance. But there are many out there who might be looking to upgrade their aircraft-either with a new engine, new paint/interior or by trading it for something else. For them, there are wonderful opportunities out there right now as long as little or no financing is required. In my admittedly hazy memory, one can buy more airplane for fewer dollars today than ever before.

Key Takeaways:

• Despite the general economic downturn causing aircraft values to drop, it's currently an opportune time for buyers and those looking to upgrade.
• Aircraft prices have fallen significantly, making it possible to acquire more airplane for fewer dollars than ever before.
• Maintenance, paint, and avionics shops are actively seeking business, offering cut-rate deals and reduced labor rates on upgrades and services.
• The author encourages pilots and owners to seize these opportunities to fly, buy, or upgrade, as taking action is crucial to reversing the slump in the General Aviation economy.

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