JETNET Releases March 2011 and 1st Quarter 2011 Pre-Owned Business Jet and Business Turboprop Aircraft and Helicopter Market Information

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JETNET LLC, the leading provider of corporate aviation information, has released 2011 and 1st quarter 2011 results for the pre-owned business jet, business turboprop and helicopter markets. Statistics show the March business jet average asking price is still down in 1st Quarter 2011.

Leading intelligence on worldwide business aircraft.

March 2011 to March 2010 results show some good news—the average asking price of business turboprops increased by 15.5% to an average of $1.320 million

JETNET LLC, the leading provider of corporate aviation information, has released March 2011 and 1st quarter 2011 statistics for the pre-owned business jet, business turboprop and helicopter markets.

All the leading indicators in the pre-owned business jet market are showing early-stage recovery signs, except for continued softness in average asking price statistics. We have noted that the business jet average asking price is down by 1/3 in the 1st quarter of 2011 compared to the 1st quarter of 2010. In 2008, business jet weight classes (based on the maximum gross takeoff weight [MGTOW] of business jets for heavy, medium, light, and very light categories) witnessed a rapid two-year decline in average asking price.

Market Summary
Key worldwide trends across all aircraft market segments comparing March 2011 to March 2010 show that business jet inventory for sale percentage had the largest change (1.1 points), down to 14.5% from 15.6%. The turbine helicopters sector, at 6.8%, changed 1/10 of a point in the for sale percentages for March 2011 compared to the same period in 2010. Conversely, piston helicopters inventory statistics increased to a 7.0% level, up 3/10 of a point from 6.7% in 2010.

Business jet sale transactions increased 17.3% in the 1st quarter 2011 compared to the same period in 2010. Business turboprops also showed an increase of 10.8%. Both helicopter categories saw large, double-digit declines in sale transactions (down 13.7% for turbine and 20.5% for piston) in the 1st quarter of 2011 versus the 1st quarter 2010. This signaled a further softening of asking prices across all sectors except piston helicopters.

All pre-owned aircraft categories showed large decreases in the average asking price percentages except piston helicopters, which showed an increase of 7.6%. The decrease in average asking prices ranged from -32.9% for business jets to -6.2% for business turboprops and -11.3% for turbine helicopters.

Pre-Owned Business Jet and Business Turboprop Aircraft For Sale
The build-up in business jet for sale inventory decreased to 2,603 (or 14.5%) in March 2011 from 2,696 (or 15.6%) in March 2010. The business turboprop market continues to hover just under the 1,400 for sale inventory level, down to 10.7% in March 2011 from 11.1% in March 2010. We continue to witness stubbornly high levels of for sale inventories as we remain in a buyer’s market, with business jets showing for sale percentages greater than 10%. A seller’s market is defined as when 10% or less of the pre-owned business jets are for sale.

Pre-Owned Business Jets For Sale and Full Sale Transactions
Business jet results show that for March 2011 compared to March 2010, inventory continues to decline, down by 3.4% in full sale transactions. In comparing the 1st quarter 2011 to the comparable quarter of March 2010, asking prices remain soft (down 32.9%) and the length of time on the market is 3 months (or 89 days) longer at 422 days.

Pre-Owned Business Turboprops For Sale and Full Sale Transactions
March 2011 to March 2010 results show some good news—the average asking price of business turboprops increased by 15.5% to an average of $1.320 million, and full sale transactions improved 4.8 percent in March 2011 compared to March 2010.    
The 1st quarter 2011 saw an increase in full sale transactions of 10.8%, in fewer days on the market but at a 6.2% decline in the average asking price.

Helicopter – Turbine (excludes Civil Russian manufactured helicopters)
The number of pre-owned turbine helicopters for sale in March 2011 compared to March 2010 took a 1/10 of a point drop, from 6.9% to 6.8%—a buyer’s market. The number of turbine helicopters in operation worldwide (17,576), is only 2.5% less than the total number of business jets (18,011).

The number of pre-owned full sale transactions for turbine helicopters declined by 13.7% in the 1st quarter of 2011 compared to 2010. Statistics show, average days on the market for turbine helicopters was 401 days, 74 days longer than the same period in 2010. However, the average asking price fell by 11.3% in the 1st quarter 2011 compared to 1st quarter 2010.

Helicopter – Piston (excludes Russian manufactured helicopters)
The number of pre-owned piston helicopters for sale in March 2011 was 631, nearly half the number of turbine helicopters. The percentage of pre-owned piston helicopters for sale increased by 3/10 of a point, from 6.7% to 7.0%, comparing March 2011 to March 2010—a buyer’s market.

The number of pre-owned full sale transactions for piston helicopters decreased by 19.3% in March 2011 compared to March 2010. Average days on the market for piston helicopters was 404 days, or 142 more days in March 2011 than March 2010. However, the average asking price for piston helicopters jumped by 10.6% in March 2011 compared to March 2010.

The 1st quarter pre-owned piston helicopters average asking price increase of 7.6% resulted in 20.5% fewer full sale transactions. Average days on the market increased by 22 days in the 1st quarter 2011 compared to the 1st quarter 2010.

Since 1988, JETNET has delivered the most comprehensive and reliable business aircraft research to its exclusive clientele of aviation professionals worldwide. JETNET is the ultimate source for information and intelligence on the worldwide business aircraft fleet and marketplace, comprised of some 60,000 airframes. The company offers services for both fixed wing and helicopter aircraft. Headquartered in its state-of-the-art facility in Utica, NY, JETNET offers comprehensive user-friendly aircraft data via real-time internet access or regular updates.

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Paul Cardarelli

Karim Derbala
JETNET LLC
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