J.P. Morgan’s latest business jet report 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. Pre-owned aircraft prices have continued “a steady downward march toward supply-demand equilibrium,” noted J.P. Morgan aerospace/ defense analyst Joseph Nadol III. Compared with the preceding month, prices fell 1.9 percent in July, 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. “We still see few signs of moving off the bottom, however, and were not much encouraged by second-quarter earnings,” Nadol concluded.