A Market Flooded With Used Aircraft.

A Market Flooded With Used Aircraft

Joe Hertzler

Do that inspection, know what you are buying

We are often asked to assist in evaluating an aircraft for purchase. With a growing used aircraft inventory on the market it's even

more important to look hard at the aircraft and be sure it is the best value. There are several things to consider when you are looking for a good used aircraft. In this article we will discuss the more critical considerations and even touch a little on technique. A pre-purchase evaluation consists of two major elements: 1) physical inspection of the aircraft, and 2) an audit of the maintenance records.

Let's stand back for a moment and consider the aircraft maintenance cycle in general. Each unique model has a different maintenance cycle timeline derived basically from its maintenance and inspection schedule, published by the aircraft manufacturer. Understanding where on that timeline that aircraft currently lies can be a huge factor in the valuation of the aircraft. Done right, the maintenance records audit can paint a timeline picture clearly. Imagine buying an aircraft that needs a major inspection, engine overhauls, and a landing gear inspection in the next 12 months. Once you own the aircraft you pay for the maintenance. Many focus only on the major maintenance events and ignore the little stuff. Well, lots of little stuff can quickly add up to a major maintenance event by itself.

Inspect the aircraft

In order to properly evaluate the physical condition of the aircraft an all-encompassing and complete inspection should be performed, even if it isn't due yet. Obviously, the selection of a maintenance provider who will perform the inspection is important. The aircraft buyer is usually the party paying for the pre-purchase and usually selects the maintenance provider. We recommend choosing a maintenance provider with an outstanding reputation for knowledge on the make and model aircraft being purchased. Almost anyone can legally inspect the aircraft; however, a willingness to do the work does not equate to expertise. When making a buy decision on a multimillion dollar asset like an aircraft,you've got to find experts to help in the evaluation.

The general belief is that the best maintenance provider choice will be the aircraft OEM (original equipment manufacturer), but there are several non-OEM maintenance providers who are very capable as well.