The eye-popping total of 2,750 pre-owned aircraft for sale today is a lot based on historical standards, but it is well below the peak reached a little more than a year ago. The broker community and OEMs monitor the total number of aircraft for sale because it is an important measurement on which to gauge the health of the used aircraft market, but when you scratch beneath the surface you realize that the sky is not falling.
Raisbeck Engineering of Seattle, Wash., today named Mike McConnell president. James Raisbeck, the company’s founder, remains as chairman and CEO. Immediately before joining Raisbeck, McConnell spent seven years with Eclipse Aviation, where he was president and general manager of the company’s customer division.
“Elevated used inventory, attractive used pricing and macro uncertainty continue to hold down demand for new business jets,” JPMorgan Equity Research said in its latest business jet monthly report.
Sales of pre-owned business jets, turboprops and turbine helicopters increased in the first seven months versus the same period last year, though at the same time aircraft prices deflated, according to data released yesterday by JetNet. Business jet inventory showed the largest year-over-year change, dropping 2.8 points to 14.9 percent.
The used aircraft market often synchronizes its pace with the lazy days
AgustaWestland is boosting its customer-support capability with the opening of a new fleet operations center. The facility, located close to the Italian helicopter manufacturer’s headquarters near Milan Malpensa International Airport, is staffed and equipped to handle urgent technical questions and spares requirements around the clock.
A report released by JetNet on Tuesday shows that the number of pre-owned business jets and turboprops on the market last month fell by more than 7 percent on a year-over-year basis. But inventory as a percentage of in-service aircraft still remains high for business jets at 15.3 percent (2,674 aircraft), and while down 2.1 percent from May 2009 this still indicates a buyerís market for this category.
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.
Despite teetering over the abyss of economic collapse and having to overcome negative public perception surrounding corporate jet ownership, the used aircraft market has battled back, slowly and perhaps surprisingly consistently, chipping away at a glutted market. Month after month since late 2008, buyers have stepped into the market and pared back the numbers to arrive at the lowest inventory level in a year-and-a-half.
A self-described “brotherhood” of three small but interrelated companies has moved in to shore up maintenance, modification, support, overhaul and parts availability for the approximately 450 MD500 series helicopters in the U.S. and abroad flown by its clients.