The percentage of pre-owned business jets available for sale in June dipped to the lowest point since the beginning of the “great recession,” according to the latest pre-owned aircraft report from JetNet. Inventories in June were down year-over-year across all segments: business jets and turboprops; turbine and piston helicopters; and jet and turboprop commercial airliners.
Business jet inventories led that decline, down 0.9 percent to 10.8 percent. This inventory is still the highest among all sectors, followed by business turboprops with an inventory in June of 7.6 percent of the in-service fleet. Across all segments, 6.1 percent of pre-owned aircraft are available.
In the first half of the year, the number of pre-owned business jet transactions increased 5.6 percent, but those aircraft took an average of 12 days longer to sell. Business turboprop transactions, however, decreased by 11.1 percent, but the aircraft sold in six fewer days. With 6.7 percent of turbine helicopters for sale, year-to-date transactions are up 0.3 percent. However, transactions for piston helicopters plummeted 17.3 percent in the first half of 2017 as the inventory slid to 5.6 percent.
In total 4,206 aircraft and helicopters sold in the first half of the year, with business jets leading the transactions at 1,299. Combined with 1,001 commercial jet transactions, they accounted for 55 percent of the total sales. The number of business jets in operation has increased by 2,215 over the past five years, almost double the 1,212 increase in business turboprops over the same period.