- May 27, 2010, 11:59 AM
A recently released report from JetNet indicates that the pre-owned inventory of business jets and turboprops declined further last month, though the aviation information firm said the market still remains very much a buyer’s realm. At the end of last month, JetNet data showed that pre-owned business jet inventory as a percentage of the in-service fleet was at 15.5 percent (2,693 aircraft), 1.9 percentage points lower than in April 2009 and 2.2 points below the 17.7-percent peak recorded in July. As inventory has deflated, the number of pre-owned full-sale transactions has increased by 45 percent in the first four months versus the same year-ago period. However, the average number of days that pre-owned business jets remained for sale on the market during the first trimester increased by 63 days, to 327 days, when compared with the same four months of last year. Average asking prices during the first four months edged down slightly by 0.5 percent. Pre-owned turboprop inventory descended to 11 percent last month (1,397 aircraft), down almost a full percentage point from April 2009. Used turboprop transactions rose 6.6 percent and asking prices increased 4.4 percent in the first four months from a year ago. Average number of days on the market for pre-owned turboprops during this period, however, climbed 12 percent to 317 days, JetNet noted.