It’s now been almost a year since Bombardier Inc. (TSX:BBD.B) secured a firm order for its CSeries jets. But this isn’t because airlines aren’t buying planes. In fact, Bloomberg News is reporting that the used jet market has surged.

So, why are airlines buying used jets instead of the CSeries?

Lower costs

The CSeries jets may be best-in-class airplanes, but they do not come cheap, with prices as high as US$82 million. By comparison, a 10-year old Airbus A319 costs about half as much, and these planes would still last for a long time. Similar differences can be found for airlines that choose to lease.

You would expect a superior plane like the CSeries to cost more, but there are other reasons for such a price disparity. First of all, airlines have generally been shifting their fleets towards larger sized planes. That’s created a flood of used jets that compete with the CSeries.

Secondly, both Boeing Co. and Airbus have been heavily discounting their smaller models in an attempt to thwart the CSeries. This tactic is undoubtedly driving down the prices for used jets as well.

Cheaper fuel prices

Up until a year ago, many airlines were willing to pay up for a CSeries jet, knowing that they would save on fuel costs in the long run. But with oil prices plummeting so drastically, it makes little economic sense to buy the CSeries over a used jet right now. It’s telling that Bombardier’s last firm CSeries order occurred on the last day that the WTI oil price closed above US$95 per barrel.

Bombardier maintains that CSeries is the better long-term option, implying that fuel prices will eventually rise again. But more and more forecasts are predicting depressed oil prices for the rest of this decade.

No need to rush

If a product is flying off the shelves, buyers are forced to make quick purchases, knowing they will otherwise be looking at an “out of stock” sign. This is especially true in the airplane market, since wait times can get very long.

But with CSeries orders sputtering, buyers can afford to take a wait-and-see approach, knowing they won’t be stuck in a long queue.

Furthermore, there is one large customer, Republic Airways, that would likely be willing to pass its order on to someone else. And if an airline really wanted to fly CSeries jets, it could always lease them from Macquarie AirFinance, which was the last company to submit a CSeries order.

At this point, there are a few reasons why the CSeries jets aren’t securing any firm orders. Thus, if you’re expecting quick results, you should probably sell your Bombardier shares.

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