JPMorgan: Business Jet Sentiment Improving
“We’ve felt a more positive vibe on business jets recently, with used inventory ticking down slightly and flight operations edging upward,” JPMorgan Equity Research aerospace analyst Joseph Nadol III said last month. In its latest business jet update, the firm said pre-owned business jet inventory in August decreased to 14.1 percent of the in-service fleet after hovering in the 14.4- to 14.5-percent range–which seems likely to represent the peak for this cycle–since March. The August decline was the largest in 26 months and all classes exhibited lower inventory, according to JPMorgan. Business jet flight activity has also stabilized, it said.