Fall 2017 Newsletter

End of summer brings much activity and excitement in the pre-owned Cirrus world. Supply of pre-owned SRs has
dropped, Vision Jet positions are transacting more frequently, and new aircraft lead times are reaching 8+ months!

Piston Market Update – Seller’s Market has arrived (in certain segments)

Overall supply of pre-owned SRs for sale has fallen and will continue to do so. Current North America inventory is
down to 156 units. This is a historic low, representing only 3.5% of the fleet, or less than 4 months of supply.
Typically, we see 5-6 month of supply available for purchase.

Looking at specific segments, we can see that SR20s are very oversupplied. Late model SR22s and SR22Ts (’09-’15)
are evenly balanced, while it is almost impossible to find a normally aspirated G3 SR22 built before 2009. With
Cirrus essentially sold out of 2017 deliveries and tax motivated buyers re-entering the market (as they do every
year at this time), the market should tighten even more, especially for newer planes. If you were considering
selling, now is the time.

Vision Jet Market Update – Uptick in Activity
The market for jet positions picked up significantly after Oshkosh. Sporty’s auction of a position at Oshkosh stalled
activity as would-be buyers waited to see the outcome before jumping into the fray. Once the auction was
completed, the overhang was lifted and normal buying patterns returned. In the four weeks following EAA, Aerista
transacted five jet positions, all for 2018 delivery.

Now that SF50 deliveries have begun to ramp up, we’ve noted some rationalization of position pricing. The days of
super-high premiums for early delivery slots appear to be behind us, replaced by pricing for near-term positions
that is fairly consistent with Cirrus’ current MSRP for the jet. Of course, later positions are still trading at a
discount to MSRP, so long-term planners still have a good opportunity to lock in a great price on an SF50 for
delivery 18+ months down the road. As the market leader in Vision Jet position sales, we can certainly help if you
need any information or help either acquiring or selling one.