The first eight months of 2011 show an increase in average asking price for pre-owned business jet retail sale transactions.
Utica, NY (PRWEB) September 27, 2011
JETNET LLC, the leading provider of corporate aviation information, released August 2011 and the first eight months of 2011 statistics for the pre-owned business jet, business turboprop, and helicopter markets.
For the first time this year, some long-anticipated good news came for pre-owned business jet retail sale transactions. In the first eight months of 2011, the year-to-date (YTD) average asking price increased 3.5% while the industry maintained double-digit growth at 11.4%.
Key metrics for all pre-owned aircraft market sectors, comparing August 2011 to August 2010 as well as YTD:
For Sale inventories continue to decline
- Business Jet inventory For Sale at 13.8% (down 1.1 points from 14.9%)
- Business Turboprops For Sale at 10.2% (down 0.5 points from 10.7%)
- Turbine Helicopters For Sale at 6.7% (down 0.2 points from 6.9%)
- Piston Helicopters For Sale at 6.5% (no change)
Full Sale Transactions show mixed results
- Both Business Jet (up 11.4%) and Business Turboprops (up 11.7%) show double-digit growth
- Both Turbine (down 11.6%) and Piston helicopters (down 17.9%) show double-digit declines
Average Asking Prices show mixed results; Business Jets show positive change for first time YTD
- Both Business Jets (up 3.5%) and Piston Helicopters (up 5.1%) show increases
- Both Business Turboprop (down 1.5%) and Turbine Helicopters (down 13.8%) show decreases
Average Days on the Market are all at very high levels
- All market sectors are over 300 days average on the market before a sale
- All market sectors have reduced the average days in August, except for business turboprops which took 11 days longer
While the pre-owned market continues to show improvement, it has been a slow recovery. It is a good sign that the numbers are much improved compared to the lows recorded over the past two years.
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.