Used Jet Inventory Eases, T-props a ‘Seller’s Market’
Pre-owned business jet and turboprop inventories continued to subside in January as sales transactions increased, according to data released by market information firm JetNet. Inventory of used business jets fell to 13.7 percent in January, down by 0.9 percentage points from the year-ago period and down by 0.1 points from December. Business jet sales transactions rose 3.7 percent year-over-year, despite the fact that asking prices firmed up by 14.3 percent from January 2010. Average days on the market for a business jet dropped to 240 days, down by a whopping 129 days from January last year.
Meanwhile, turboprop inventory further deflated to 9.3 percent–1.3 percentage points below January 2010 and 0.3 points less than in December. “Business turboprops came in well below the 10-percent mark, clearly moving [the segment] into a seller’s market,” JetNet said. Turboprop sales transactions climbed by 1.3 percent, even in the face of asking prices rising by 51.6 percent. However, days on the market for used turboprops surged by 103 days to 361.
JetNet said inventory of pre-owned turbine helicopters also decreased in January to 6.4 percent, down 0.6 points from a year ago and 0.2 points below December. Average asking prices for turbine helicopters rose by 58 percent year-over-year, it noted.