JetNet: Used Business Aircraft Transactions Climbing
Sales transactions of pre-owned business jets and turboprops, as well as turbine helicopters, posted healthy increases from a year ago, according to data released yesterday by business aviation information firm JetNet. From January through October 31, business jet sales transactions climbed by 16 percent, followed by turbine helicopters (up 15.2 percent) and turboprops (up 4.5 percent). Meanwhile, pre-owned inventory deflated over the same period last year for all but turbine helicopters, which rose slightly by 0.4 points, to 7.2 percent of the in-service fleet–but still below the 10-percent mark that delineates a seller’s market (inventory below 10 percent) from a buyer’s market (inventory above 10 percent). Pre-owned business jet inventory steadily, but slowly, descended to 15.2 percent at the end of last month, compared with 16.7 percent a year ago. Turboprop inventory decreased by 0.7 points, to 10.7 percent, edging closer to the 10-percent market equilibrium. Despite increased transactions and lower inventories, JetNet said aircraft are selling more slowly now than they did a year ago, ranging from 41 to 93 more days, while asking prices are down by double digits for jets and turbine helicopters–by -12.6 percent and -11.6 percent, respectively. JetNet reported that turboprop asking prices were 2.6 percent lower year-over-year.