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 over this 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. Average number of days on the market climbed by 48 days, to 390 days, year-over-year. 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, while average days on the market in the same time frame dropped by 19, to 304 days. As of May, JetNet said, business jet retail transactions are 6.8 percent below the peak set in February 2008, and turboprop transactions are 23.7 percent lower than the peak, which was also set in February 2008.