Pre-owned Bizcraft Inventory Held Steady in July
Pre-owned business jet and turboprop inventories held steady in July month-over-month, according to data released late last week by business aviation market information firm JetNet. Inventory of used business jets ticked up from June by three aircraft, to 2,521 in July, representing 13.5 percent of the in-service fleet. This was down by 0.2 percentage points year-over-year.
Used business jet sales transactions rose 7.7 percent in the first seven months versus the same period a year ago; asking prices also increased, by 2.6 percent, to an average of almost $4.82 million. Average number of days on the market for a business jet dropped by six from last year, settling in at 377.
Turboprop inventory in July stood at 1,205 aircraft, up five from June but down 1.1 percent year-over-year. Turboprop sales transactions fell 2.5 percent in the first seven months of this year, while average asking prices dropped by 3.2 percent, to $1.254 million. Average number of days on the market for used turboprops climbed by 28 year-over-year and now stands at 346.