JETNET Releases April 2010 Pre-Owned Business and Turboprop Aircraft and Helicopter Market Information

JETNET LLC, the leading provider of corporate aviation information, has released the April 2010 results for the pre-owned business jet, business turboprop, and helicopter markets.

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Utica, NY (Vocus) May 26, 2010

JETNET LLC, the leading provider of corporate aviation information, has released the April 2010 results for the pre-owned business jet, business turboprop, and helicopter markets.

Business Jet Aircraft

Although the high inventory levels for pre-owned business jet aircraft witnessed in much of 2009 are gradually being reduced, pre-owned business jets remain in a “buyer’s” market. At the end of April 2010, the percentage of pre-owned business jets for sale was at 15.5% compared to the high of 17.7% recorded in July 2009. The number of business jets for sale at the end of April 2010 was slightly less than 2,700 aircraft.

See the Pre-owned Business Jets table in the sidebar.

As the “for sale” inventory has declined, the number of pre-owned full sale transactions has increased by 45% in the first four months of 2010 versus 2009 which is very welcome news. However, when the first four months of 2010 at 561 is compared to the first four months of 2008 at 669, pre-owned full sale transactions are down by -16.1%.

Looking at other industry metrics, the “average number of days” that the pre-owned business jets remained on the market for sale was 327 days or 63 more days in the January to April 2010 time period compared to the same period in 2009.

Also, the average asking prices during the first four months of 2010 fell by -.5% compared to the first four months of 2009.

The increase in pre-owned business jets full sales transactions is excellent news as the first estimate for the 1st quarter of 2010 U.S. Gross Domestic Product (GDP) grew by 3.2% as reported by the U.S. Bureau of Economic Analysis. This is the third consecutive quarter that the U.S. GDP has shown growth after four quarters of decreases.

Additionally, the FAA reported that U.S. based Business Jet flight operations in the 1st quarter of 2010 grew by 11.3% compared to the 1st quarter of 2009. So more companies are flying compared to last year when flight operations had declined by -30.5% in February 2009 compared to February 2008. While the flight operations increase in the 1st quarter of 2010 is welcomed news, it is still -21% below the first four months of 2008.

The first quarter of 2010 New Business Jet deliveries at 164 were down -14.1% compared to 191 in the same period in 2009. When compared to the 1st quarter of 2008 at 297, the current quarter results are down -44.8%.

Business Turboprop Aircraft

The inventory levels for pre-owned business turboprop aircraft for sale at the end of April 2010 have followed the same pattern as the business jet aircraft market. The percentage of pre-owned business turboprop aircraft for sale was 11.0% in April 2010, and has declined from the peak set in both May and June 2009 of 12.0%. The number of business turboprops for sale at the end of April 2010 was slightly less than 1,400 aircraft, half the number of business jets currently for sale.

See the Pre-owned Business Turboprops table in the sidebar.

The number of pre-owned full sale transactions for business turboprop aircraft increased by 6.6% during the first four months of 2010 compared to the same period in 2009.

The average days on the market for business turboprop aircraft was 317 days from January to April 2010, an increase of 12% compared to the same period in 2009. Also, the average asking prices increased by 4.4% in the first four months of 2010 compared to the same period in 2009. This average asking price increase is good news indeed.

In the 1st quarter of 2010 New Business Turboprop deliveries at 60 were down -32.6% compared to 89 that were delivered in the same period of 2009.

Helicopter – Turbine

The number of pre-owned turbine helicopters for sale in April 2010 was less than 1,200 helicopters, or 200 less than the business turboprop market. The percentage for sale at 6.9% (a seller’s market) in April 2010 was higher compared to 6.2% in the April 2009.

See the Pre-owned Helicopters-Turbine table in the sidebar

The number of pre-owned full sale transactions for turbine helicopters increased by 13.5% in the first four months of 2010 compared to 2009.

The average days on the market for turbine helicopters was 314 days or 82 more days in the first four months of 2010 compared to 2009. Also, the average asking price increased by 3.2% in the first four months of 2010 compared to 2009.

Helicopter – Piston

The number of pre-owned piston helicopters for sale in April 2010 was 577 helicopters, or half the number of turbine helicopters. The percentage for sale at 6.5% (a seller’s market) was below the 7.0% level from the same period of 2009.            

See the Pre-owned Helicopters-Piston table in the sidebar.

The number of pre-owned full sale transactions for piston helicopters decreased by -17.7% in the first four months of 2010 compared to 2009.

The average days on the market for piston helicopters was 282 days or 80 more days than in the first four months of 2010 compared 2009. However, the average asking prices for the piston helicopters increased by 3.1% in the comparable periods.

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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