Pre-owned Bizjet, T-prop Inventories Still Shrinking
Pre-owned business jet and turboprop inventories continued their downward trajectory last month, according to data released yesterday by business aviation market information firm JetNet. But the overall picture of the pre-owned market remains mixed at best.
The company said that used business jet inventory last month stood at 13 percent of the in-service fleet, down 0.6 points from a year ago and 0.1 point lower than it was in March. Despite this deflating inventory, pre-owned business jet sales transactions in the first four months fell 6.3 percent from a year ago, with 698 sales logged year-to-date. These jets were also on the market for 93 days more than last year, averaging 429 days. Meanwhile, average asking prices continued to decrease–this time by 3.5 percent, to about $4.12 million.
The number of business turboprops for sale continued to ease, with this inventory finishing April at 7.6 percent, down 1.6 points from a year ago and 0.2 points lower than in March. Though sales skidded in the first four months by 8.2 percent, to 415 transactions, average asking prices still continued to climb 13.6 percent, to $1.442 million. Average days on the market for used turboprops slid by 15 days from a year ago to 322, JetNet said.