Market Insights: Janine Iannarelli, Par Avion

After a frenetic finish to 2020 for pre-owned aircraft sales that poured over into 2021, the available inventory is looking thin. How should buyers and sellers read today’s market and get the best from it? AvBuyer’s Matt Harris asked Janine Iannarelli…

Matt Harris  |  07th May 2021
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Matt Harris
Matt Harris

Matt Harris is Commissioning Editor for AvBuyer. He is an experienced General and Business Aviation...

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Par Avion Ltd. was founded in 1997 with the express objective of meeting the demand for a more personalized service in terms of the acquisition and sale of business aircraft. The company specializes in the exclusive representation and acquisition of aircraft, with a focus on the pre-owned business jet market.

Over the years, Par Avion has worked with countless buyers and sellers of pre-owned business jets from all around the world, and today it offers expertise for select Bombardier models, Cessna Citations, Dassault Falcons, Embraer business jets, Gulfstreams, and Hawker models.

Par Avion’s founder, Janine Iannarelli, is an industry veteran who has amassed over 35 years’ experience in Business Aviation generally, and aircraft sales specifically.

An active participant in the wider Business Aviation community, she is a current member of the National Business Aviation Association (NBAA), European Business Aviation Association (EBAA), and Women in Aviation International (WAI).

In 2016, Janine was reappointed and named presiding officer by Governor Greg Abbott to the Texas Aerospace and Aviation Advisory Committee, on which she served until last year.

She was also invited to serve on the EBAA Associate Members Advisory Council (AMAC) Sales and Acquisition committee in 2016, providing expert input on sales transactions. The following year, she was appointed as its Chair, and elected Vice Chair of the Board by her fellow AMAC Chairs in 2019. 

Keen to give back to the industry that she, and Par Avion, have enjoyed much success from, last year Janine joined the NBAA Mentoring program, designed to help young aviation professionals become established in the Business Aviation industry.

Well placed to offer insights on the pre-owned marketplace, she took a moment to share some of her thoughts with AvBuyer

AvBuyer: Is there anything that surprises you about the pre-owned aircraft sales market today?

Janine: The thing that surprises me most today is why there still exist prospective buyers and sellers who fail to hire an aircraft sales expert to help them in the process.

Just because the pendulum is swinging in favor of sellers in today’s market does not mean the aircraft will sell itself. The aircraft sales professional is there to showcase the airplane in the best light – and sometimes that requires keeping the emotion out of the decision-making.

AvBuyer: We are hearing the market has slowed down from the white hot activity reported at the end of 2020. While we understand that’s not entirely unexpected, from your perspective what is causing this?

Janine: The fourth quarter in 2020 was undoubtedly ‘white hot’ with a plethora of transactions taking place – some of which carried over into Q1 2021.

I would not necessarily say that sales have ‘slowed’, albeit they are not taking place at the pace they were at the end of 2020. Rather, I would say that everyone who carried over a deal [into 2021] was focused on closing that out. There was perhaps a bit of a breather being taken by the remaining prospective buyers who had yet to focus on a particular make, model, and serial number aircraft.

The inventory has thinned, and in absence of immediate replenishment, some readjustment must take place before a buyer considers the alternatives.

Three months goes by in the blink of an eye, so it’s important not to judge the year by the very early part of it.

AvBuyer: Combining the evidence, gut feeling, and your years of experience in pre-owned aircraft sales, what’s your outlook for the coming months of 2021? How do you see the market continuing to play out this year?

Janine: There exists the possibility that 2021 will be as good a boom market as we have ever seen. The financial news, regardless of the day-to-day realities of what the pandemic has done to individual households, is extremely promising with the US leading an economic recovery.

The combination of still-willing and fully-capable buyers, along with diminished inventory, is starting to fuel a seller's marketplace. The greatest challenge to buyers and brokers alike will be available inventory.

AvBuyer: Given the way you perceive the current market, what is your biggest tip for buyers and sellers thinking of buying or selling a jet today?

Janine: I alluded to it in my reply to the first question: If you are a buyer, hire an aircraft broker to help you source a suitable aircraft. Similarly, if you’re selling, hire a broker to help maximize your return on investment!

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