Data from a J.P. Morgan business jet report released on Tuesday indicates "evidence of stabilization" in the business jet market "but no improvement." According to the report, pre-owned business jet inventories remain at record highs–staying at about 14.5 percent of the in-service fleet for the fifth consecutive month–but have not gotten much worse. Large-cabin and light jet inventories increased slightly, while midsize jets eased a bit. Of 23 business jet models J.P. Morgan tracks, 12 saw higher sequential inventories last month. Pre-owned aircraft prices have continued “a steady downward march toward supply-demand equilibrium,” noted J.P. Morgan aerospace/defense analyst Joseph Nadol III. Prices fell 1.9 percent last month, with used large-cabin jets experiencing the most contraction at -2 percent. Meanwhile, business jet flight activity continued to flatten sequentially, with 285,000 takeoffs and landings recorded in the U.S. in June–a 21-percent decline over the same month last year. This is “the fourth consecutive month in the 280,000 to 285,000 range and [takeoffs and landings] appear to have stabilized at this depressed level off a low of 264,000 in February,” the investment firm said. “We still see few signs of moving off the bottom, however, and were not much encouraged by second-quarter earnings,” Nadol concluded.