JPMorgan’s latest business jet monthly report indicates that October was another month of modest improvement in aircraft demand and utilization. Further, pre-owned business jet inventories fell for the third straight month, “and the peak for this cycle now seems more firmly behind us, but they remain at very high absolute levels,” noted aerospace analyst Joseph Nadol III. Inventory fell 0.3 points in October to 13.3 percent of the “active fleet,” the third straight monthly decline and down from the “all-time high” of 14.5 percent in July, according to JPMorgan. However, the declining pre-owned inventory didn’t stop prices from sliding for the 11th straight month, though the slip was just 0.5 percent. Meanwhile, JPMorgan said flight activity is stabilizing, with approximately 308,000 business jet takeoffs and landings in the U.S. logged in September, up 1.2 percent from August.
JPMorgan: Bizjet Market Continues To Improve
- November 23, 2009, 5:58 AM