Pre-owned Bizcraft Market Recovering, but Only Slowly
“While the pre-owned business aircraft market continues to show improvements, all indicators have been slow to recover in the first nine months of 2011,” industry research firm JetNet said in a market report released on Friday. “These figures are, however, much improved compared to the lows recorded over the past two years, as the for sale inventories have declined and full sale transactions have improved.” According to the company, pre-owned business jet inventory at the end of September sat at 13.8 percent of the in-service fleet, down from 15.1 percent a year ago. Business jet asking prices remained soft during the first nine months of the year, sliding 19.7 percent compared with the same period last year. However, business jet transactions in the first nine months climbed by 11 percent from the year-ago period. Meanwhile, used business turboprop inventory deflated to 10.1 percent in September, down 0.6 points on a year-over-year basis. Despite this good news, average asking prices and sales transactions for pre-owned turboprops sunk 12.9 percent and 0.9 percent, respectively. The average days on market for jets climbed by 18 days to 373 in the first three quarters, while turboprops took 25 fewer days (325) to sell, JetNet said.