UBS Investment Research’s business jet survey released on Tuesday shows that the market index increased to 35 this month, the fourth consecutive move higher, which UBS analyst David Strauss said is “indicative of a much slower pace of deterioration.” The investment researcher said the business jet index is still weighed down heavily by weak pricing and high inventories since it hasn’t yet crossed the 50 mark indicative of incremental improvement. “Overall, we think our survey reflects increased customer interest on the back of 30-percent-plus price declines, along with what appears to be improved financing availability,” Strauss said. “While interest has improved, actual transactions are still scarce as buyers’ and sellers’ expectations have not yet aligned.” An encouraging sign is that the financing survey score rose to 53, reflecting improved availability of financing for business jets. However, UBS said there is still “a significant oversupply of high-quality young used aircraft.” In conclusion, the report said, “We think the current business jet market is characterized by significant oversupply, weak pricing and tight financing. While our key indicators and contacts indicate a bottom is near…[there is] potential for further production cuts.”