JetNet: Used Business Aircraft Sales Still a Bit Slow
Pre-owned business jet sales during the first nine months have been a bit slower year-over-year, according to the latest data from business aviation market information firm JetNet. However, the silver lining is that aircraft pricing seems to be on firmer ground, trending in positive territory for the past five consecutive months and with double-digit percent increases in the last three.
The inventory of used business jets at the end of September stood at 13.2 percent, down 0.3 points from a year ago but up 0.1 point from late July. Sales transactions in the first nine months were down 3.2 percent year-over-year, while the average time on the market climbed by 31 days, to 401. Despite this, asking prices for pre-owned business jets climbed by 11.4 percent, to an average of $5.092 million.
Meanwhile, pre-owned turboprop inventory in September remained low at 7.7 percent, down from 8.5 percent last year and unchanged from July. Still, business turboprop sale transactions fell 8.1 percent in September, while average asking prices climbed 10 percent, to $1.415 million. The average number of days on the market for used turboprops dropped to 335 days, 17 fewer than a year ago.