The inventory of preowned business jets for sale inched higher while the number of sales transactions fell sharply in the first nine months of 2019, according to data released Wednesday by JetNet. Business jet sales transactions dropped 16.9 percent compared with the same period a year ago, the Utica, New York-based business aviation data company said.
The percentage of the business jet fleet for sale—2,187 of 22,241 in-service aircraft—rose 0.9 percentage points, from 8.9 percent in the first nine months of 2018 to 9.8 percent in the current period. “The increase in business jets for sale percentage shows the industry remains below the 10 percent mark and [is] a seller’s market,” JetNet commented. It’s also taking, on average, nine fewer days—276—to sell a business jet versus the first nine months of last year, the report noted.
For business turboprops, the percentage of the fleet for sale—1,051 of 15,676 in-service turboprops—edged lower, to 6.7 percent in the first nine months of 2019 compared with 6.8 percent in the nine-month period of 2018. Turboprop sales transaction percentages also fell sharply (12.2 percent) between the nine-month periods. Average days on the market for a business turboprop moved higher by one day to 291 days.