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
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. Pre-owned inventory as a percentage of the in-production business jet fleet ­hovered at 11.7 percent last month, higher than the 11.4 percent seen in July. Meanwhile, JPMorgan said, used business jet prices have fallen to 1997 levels, while high inventories could generate incremental price pressure.