UBS Investment Research’s business jet survey released late last month shows a contracting market index that is “reflective of a market that continues to rapidly deteriorate.” According to UBS analyst David Strauss, “We believe this [is] a market with few serious buyers, too much supply and pricing that has fallen 25 percent or more over the past six to eight weeks.” A lack of financing is also endangering aircraft manufacturers’ backlogs, UBS said. “While our survey has indicated slowing end-market demand for some time, financing looked to be there to deliver the backlog. However, over the past two months…business jet financing looks to have dried up considerably.” Meanwhile, an increase in inventory of pre-owned aircraft and decline in flight activity “presage what we think will be a significant slowing in new aircraft demand.”
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