According to the latest data from JPMorgan Research, pre-owned business jet inventories fell last month, reversing a three-month upward trend, though demand remains “weak.” Inventories decreased to 11.7 percent of in-production business jets, but JPMorgan said they remain elevated and noted that inventories have fallen less than 0.1 percentage point per month on average this year. “While we expect gradual downward movement to remain the trend, it should be some time before enough used inventory clears to spark new demand if this pace does not pick up materially,” JPMorgan aerospace analyst Joseph Nadol III said in the monthly business jet report released last week. Average asking prices decreased 1.1 percent, to $10.8 million, suggesting that a floor for pricing “remains elusive.” As for new aircraft sales, the investment firm noted that third-quarter deliveries declined 32 percent from a year ago. Still, heavy jet indicators “remained strong,” with deliveries down only 5 percent. Light jet deliveries fell 54 percent, while midsize jets were down 41 percent. Cessna and Hawker were the hardest hit, with year-over-year deliveries down 62 and 60 percent, respectively, while Gulfstream was the only manufacturer to post an increase, with deliveries up 35 percent.