Amstat: Pre-owned Bizjet Market Still Fragmented
While pre-owned business aircraft inventories continue to drop from 2009 highs, the overall market remains mixed, according to data released yesterday by Amstat. “The data reflects the current fragmented nature of this market,” said Amstat executive vice president Tom Benson. “On a quarter-by-quarter basis, it is difficult to apply broad statements on performance across the market as a whole.”
Pre-owned business jet inventory as of April 1 stood at 12.8 percent, down 0.1 percent from January 1 and a 1-percent decrease from a year ago. During the first quarter, business jet transactions were up by 0.3 percent from a year ago, totaling 494 in the three-month period.
Meanwhile, turboprop inventory continued its downward trend, even as transactions were mostly flat. As of April 1, pre-owned business turboprop inventory settled in at 8 percent, 0.6 percentage points lower than January 1 and 1.9 points below that from a year ago. There were 279 sales transactions in this segment during the first quarter, a 0.1-percent decrease from a year ago.
Prices for larger business jets and turboprops appear to be firming up, Amstat said, with average asking prices up 7.3 percent year-over-year for large-cabin jets and 3.3 percent for turboprops. Prices dropped 7.8 percent for light jets and 5.4 percent for midsize jets during that same period, however.