According to JP Morgan Global Equity Research’s latest Business Jet Monthly report, June used business jet inventories remained stable at 14.4 percent of the active fleet, “a further sign of stabilization at this very high level. Used inventories of Cessna, Embraer and Hawker Beechcraft jets decreased, according to the report, “while other OEMs saw inventories rise.
Of the 23 aircraft models tracked by JP Morgan, 12 had higher inventories, 10 were lower and one was flat. Although used inventories appear to have peaked, average asking prices dropped 2.8 percent in June, the report noted, “decreasing for the seventh straight month.
We expect prices to continue falling to bring the used market toward equilibrium, though this could take some time. Monthly takeoffs and landings in the U.S. “appear to have stabilized” around the 280,000 range, “off a low of 264,000 in February.
The latest results, for the month of May, show year-to-year flight operations 27 percent lower, “the twelfth straight double-digit decline and the seventh decline of more than 20 percent. Flight ops are down 28 percent year-to-date.
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