JetNet: Pre-owned Bizjet Prices, Transactions Climbing

“For the first time this year, some long-anticipated good news came for pre-owned business jet retail sale transactions,” JetNet said yesterday. “In the first eight months of 2011, the year-to-date average asking price increased 3.5 percent while the industry maintained double-digit growth at 11.4 percent.” While turboprop asking prices declined by 1.5 percent over the same period, transactions still climbed by 11.7 percent. Further good news is that pre-owned inventories of business jets and turboprops continue to shrink. Business jet inventory now sits at 13.8 percent of the in-service fleet, versus 14.9 percent a year ago; turboprop inventory is at 10.2 percent, down from 10.7 percent last year. Average days on the market remain at very high levels, however, noted JetNet. Business jets sit unsold for an average of 385 days, down from 413 days a year ago, and turboprops 325 days, an increase of 11 days. “While the pre-owned market continues to show improvement, all [sectors] have been slow to recover,” JetNet added, “though are much improved compared to the lows recorded over the past two years.”

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