Pre-owned business aircraft transactions gained steam in the first half of this year, up for both business jets and turboprops, but other market indicators are showing signs of sluggishness, with available inventory creeping up and asking prices down, according to JetNet’s latest industry report.
The number of pre-owned business jet transactions in the first half of the year increased by 1.9 percent versus a year ago, while average time on market was 12 days shorter, JetNet said. At the same time, average business jet asking prices have dropped 11.2 percent. “A double-digit decrease in business jet asking prices has not stimulated enough sales growth, and continues to be a major concern,” JetNet maintains, reporting that the percentage of business jets available for sale had increased to 11.7 percent last month. This is up from June 2015’s post-recession low-mark of 11.2 percent.
Likewise, the business available business aircraft turboprop fleet has inched up from 8 percent last June to 8.3 percentthis June. Average asking prices for turboprops fell 2.3 percent, but actual sales increased by 8.8 percent and took 15 fewer days.
The number of turbine helicopter sales fell 12.4 percent, despite a 2.6-percent decline in average asking prices. Piston helicopter prices strengthened by 5.2 percent, but actual sales plummeted 22.4 percent.