Business jet sale transactions increased 4.9% YTD in June 2012 compared to 2011, and they are selling in 14 fewer days.
Utica, NY (PRWEB) August 02, 2012
JETNET LLC, the leading provider of corporate aviation information, has released June 2012 and YTD 2012 results for the pre-owned business jet, business turboprop and helicopter markets.
The “Fleet For Sale” percentages for all market sectors were down, comparing June 2012 to June 2011.
Business jet sale transactions increased 4.9% YTD in June 2012 compared to 2011, and they are selling in 14 fewer days. Business Turboprops also showed a small improvement of .2%, whereas Turbine and Piston helicopters saw declines in YTD sale transactions of 14.2% and 12.1% respectively. The business jet average asking price increased 4.9% for the 2012 YTD comparison to the same period in 2011.
Sale transactions for turbine helicopters have declined at an average of 14.9% since January 2012. However, the average asking price increase of 9.7% continues to fuel the decline in pre-owned sale transactions. It is also now taking 21 days longer to find a buyer compared to the same period last year.
U.S. Economy Gross Domestic Product, 2nd quarter 2012 (advance estimate)
Real gross domestic product increased at an annual rate of 1.5% in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0%, up from 1.9% last month.
The Bureau emphasized that the 2nd quarter advance estimate is based on source data that are incomplete or subject to further revision by the source agency. The “second” estimate for the 2nd quarter, based on more complete data, will be released on August 29, 2012.
The report showed the economy grew for the 12th straight quarter. However, the weaker growth adds to worries that the economy could be stalling three years after the recession ended. The 1.5% growth rate in the second quarter was the weakest since the economy, as measured by GDP, expanded at a 1.3% rate in the 3rd quarter last year.
Flight Activity – Domestic U.S. and International
U.S. business jet domestic flight operations were at 271,000 in June 2012, which is 102,000 (or 27.3%) flights below the peak level of 373,000 reported in October 2007. However, there has been a steady improvement from the low of 225,000 recorded in February 2009. March 2011 represented a peak of 297,000 flights.
Over the past 24 months domestic flight operations have averaged 274,000 operations and have been unchanged in spite of the recent decrease in fuel prices.
International flight operations activity has shown an average of 54,000 flights over the past 24 months, with peak periods hitting 62,000 flights twice during March and once in September.
Expectations for the remainder of 2012 remain cautiously positive, and it is hoped that the YTD 4.9% growth rate in business jet retail transactions can be sustained throughout the balance of this year.
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, commercial, and helicopter aircraft fleet and marketplace, comprised of some 100,000 airframes. 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.