“We are gaining confidence that a recovery is taking hold following good news in recent weeks,” JPMorgan North America Equity Research noted in its latest business jet update. The firm cited the net orders for 74 aircraft booked by Bombardier in the fourth quarter, as well as the recent firm order for 50 Bombardier Globals placed by NetJets.
The U.S. government’s main export finance agency is looking to be more active in supporting business aircraft transactions. “The ExIm Bank is often called The Bank of Boeing, but I want to see it called The Bank of Wichita,” said Bob Morin, vice president of the transportation division with the Export-Import Bank of the U.S.
Citing a “significant overhang” of pre-owned jets available at attractive prices, last month’s business jet market report from JPMorgan said business jet demand remains “anemic” while new aircraft backlogs continue to decline. “We see potential for further rate cuts if orders do not pick up. However, there are reasons for optimism,” noted JPMorgan aerospace analyst Joseph Nadol III.
Jupiter, Fla.-based business jet broker The Private Jet Company (TPJC) believes that the “confluence of factors creating the current buyer’s market” will not last beyond 12 months. While the firm clearly has a vested interest in encouraging the purchase of pre-owned business jets, it cited third-party data sources to support its claim.
The recovery in the business jet market was mixed again last month, according to JPMorgan North American Equity Research’s latest monthly business jet report, released on Friday. Indicators for pre-owned business jets deteriorated a bit further last month, the firm said, while manufacturers saw increased order activity for new aircraft.
According to JPMorgan’s latest business jet monthly report, improvement in the pre-owned market has stalled. However, it expects the trend toward lower inventories to restart and continue. The nearly 3-percent decline in pre-owned inventories in
According to JPMorgan’s latest business jet monthly report, released on Friday, improvement in the pre-owned market has stalled. However, it expects the trend toward lower inventories to restart and continue. The nearly 3-percent decline in pre-owned inventories in the 12 months following the July 2009 peak has “lost some steam” as levels have increased slightly (up 0.1 percent) for the second consecutive month in September.
The recovery in the business jet market continues but is still a bit uneven, according to the JPMorgan monthly business jet report released this morning. Pre-owned jet inventory of in-production models fell to 11.9 percent last month–the first time it has dipped below 12 percent since October 2008–but it did not do so uniformly. Midsize and large-cabin jet inventories decreased, while the supply of light jets increased slightly.
In its latest monthly business jet market report, JPMorgan North American Equity Research said demand for new business jets is “still in the doldrums.” As proof, the firm said Cessna Citations aren’t even 70 percent sold out this year, while Embraer “has seen little pickup in demand” for its executive jets.
Last month showed further evidence of the “gradual” business jet recovery that has been under way for the past few months, including a shrinking pre-owned inventory and “some positive signals from the new market,” JPMorgan Global Equity Research said this week in its monthly business jet update.