The National Aircraft Resale Association (NARA) has reported that its elite group of Brokers and Dealers exceeded $5 Billion USD in jet sales transactions in 2016. NARA members represented approximately 60% of all the pre-owned business jet transaction market worth over $9 Billion in 2016 (per AMSTAT). NARA Broker and Dealer members represent just 3% of the more than 1000 aircraft brokers worldwide and continue to be responsible for the majority of all the pre-owned business jet sales.
Johnny Foster, NARA Chairman, and President & CEO of OGARAJETS commented, “Our members continue to succeed even in the face of the multiple economic challenges we have endured over the past decade. Our ability to thrive in this environment is based on our strong ethics that has included honesty, transparency, and integrity for more than 25 years. NARA Brokers and Dealers represent the finest of aircraft sales professionals that continue to dominate the pre-owned business jet sales market and are complimented by the best in class group of associated NARA Products and Services members,” added Foster.
The aircraft broker/dealer community has no regulatory license requirements to conduct transactions, and it can be difficult for aircraft owners to know who they can trust when it comes to purchasing, selling, financing or maintaining a business jet, especially in today’s market. This is why the National Aircraft Resale Association was created with 12 founding members. Today, more than 100 NARA Member companies must follow a strict NARA Code of Ethics, and the Broker/Dealer members must pass a rigorous certification process to assure the highest standards when buying and selling previously owned aircraft. As part of a continuing education requirement, NARA Certified Brokers and Dealers also participate in industry seminars and workshops to enhance their market intelligence and learn the latest about aircraft values and business aviation trends.