JetNet Data Shows Early Stage of Bizav Recovery
“The first five months of the 2011 pre-owned market showed early-stage recovery signs,” with used business jet retail sale transactions growing by 19.7 percent during the period, according to data released by business aviation information firm JetNet. While business jet inventory fell to 14.1 percent at the end of May–down 1.2 percentage points from May 2010–average asking prices in the first five months dropped 26.7 percent, to $3.832 million, from the year-ago period, JetNet data shows. Meanwhile, JetNet reported that business turboprop inventory settled at 10.4 percent in May, down from 10.8 percent a year earlier. Average asking prices for turboprops in the five-month period fell 4.9 percent year-over-year to $1.272 million.