According to data released yesterday by business aviation market information firm JetNet, pre-owned business jet and turboprop inventories trickled downward in August from a year ago. “While the pre-owned market continues to show improvement, all market metrics have been slow to recover,” the company said, “though are much improved compared to the lows recorded over the past three years.”
Inventory of used business jets fell year-over-year by 0.1 percentage point, to 13.7 percent of the in-service fleet, while sales transactions rose 6.6 percent in the first eight months. Meanwhile, asking prices slipped by 1.1 percent, to $4.588 million, and average number of days on the market for a business jet dropped by eight from last year to 372 days.
Turboprop inventory in August dropped further to 1,192 aircraft, equating to 8.8 percent of the in-service fleet and a 1.3 percentage point decrease from a year ago. In the first eight months, turboprop sales transactions fell by 3.2 percent from last year, while average asking prices sagged by 5.2 percent, to $1.264 million. Average number of days on the market for used turboprops climbed by 17 year-over-year and now stands at 339.