Business Aircraft Inventory Continues Shallow Decline
Pre-owned business jet and turboprop inventories continued their shallow fall last month, according to data released today by business aviation market information firm JetNet. While the pre-owned market is not yet experiencing a strong recovery, JetNet remains “cautiously positive” about the rest of this year.
Inventory of used business jets fell to 2,518 aircraft last month–13.5 percent of the in-service fleet, which is down by 0.3 percentage points year-over-year. Used business jet sales transactions rose 4.9 percent in the first six months versus the same period a year ago, while asking prices also increased 4.9 percent to an average of $4.62 million. Average number of days on the market for a business jet dropped to 360 days, down 14 from a year ago.
Turboprop inventory fell to 1,200 aircraft last month, which equates to 8.9 percent of the in-service fleet and is 1.3 percentage points below where it was last year. Turboprop sales transactions climbed by a meager 0.2 percent in the first six months of this year, while average asking prices slid by 2.4 percent, to $1.24 million. Average number of days on the market for used turboprops climbed by 28 year-over-year and now stands at 334.