Business jet buyers who waited for a softer market found tighter conditions

First National Capital’s mid-year aviation report says preowned business jet values rose 3% in the first quarter of 2026 even as transactions fell 10.5% year over year. The firm argues that buyers were limited less by price than by financing execution as inventory stayed tight and closing timelines stretched.

Why it matters: - First National Capital’s research says business aviation is still a supply-constrained market, so waiting for a softer deal can mean losing access to the aircraft buyers want. - The report argues that financing readiness now determines who can close, not just who can bid. - That matters because more buyers are using LLCs, trusts and partnerships, which can slow traditional financing timelines.

What happened: - First National Capital Corporation released Nothing Good Stays Listed, a mid-year report on the business aviation market. - The report says preowned business jet median values rose 3% in the first quarter of 2026. - Transaction counts fell 10.5% year over year in the same period. - The report says many buyers stepped back in February and March after conflict broke out in late February, expecting more inventory and better pricing later. - The market instead became tighter and more expensive in April.

The details: - Sellers did not soften price expectations, and inventory did not build. - The most desirable aircraft continued to trade within weeks of listing. - Nearly two-thirds of aircraft valued above $10 million now involve multi-entity ownership structures, including LLCs, trusts and partnership arrangements. - Traditional bank financing timelines for those structures run 68 to 100 days. - A well-pedigreed aircraft can go under contract in 11 days, far faster than standard financing can clear. - First National Capital said buyers were not outbid; they were out-processed. - Greg Marks, Aviation Finance Leader at First National Capital Corporation, said buyers who closed in the first half had financing already underwritten, with ownership structure reviewed, residual parameters set and approval frameworks in place before aircraft came to market. - The report draws on industry transaction and inventory data, dealer market reporting, OEM delivery figures and First National’s proprietary aviation origination data. - First National Capital says its aviation data set covers more than $1 billion in completed aviation financing. - The full report is available at firstncc.com.

Between the lines: - The report frames the first half of 2026 as a stress test for a common buyer strategy: wait for uncertainty to create leverage. - First National Capital’s conclusion is that the strategy failed because supply stayed tight and the best aircraft continued to move quickly. - The broader implication is that financing execution has become part of the bid itself in business aviation.

What's next: - The report expects a second-half squeeze as 100% bonus depreciation continues to pull acquisition demand toward year-end. - Inventory remains below historical norms. - Buyers who delayed in the first half may try to transact at the same time in the fourth quarter, creating more pressure on limited inventory and closing capacity. - Nothing Good Stays Listed is the aviation installment in a four-part mid-year research series from First National Capital, with companion reports on manufacturing, oil and gas and private equity. - Media members can request a copy through the contact form referenced in the release.