Preowned business jet inventory inched up and that for turboprops remained flat as business aircraft sales transactions suffered double-digit percentage year-over-year decreases in the first six months, according to data released yesterday by JetNet. Business jet transactions plunged 21.5 percent from last June and turboprop sales eroded by 13.9 percent, the Utica, New York-based business aviation data company said.
As of June 30, preowned business jet inventory climbed by 0.4 percent from a year ago, to 9.5 percent—or 2,099 of the 22,177 in-service aircraft. Average days on the market for business jets rose by 28, to 297 days.
Looking at a bigger picture, JetNet said the 12-month moving average for business jets retail transactions settled at 2,584 in June, down from the peak of 2,892 recorded in December 2018 and just above the low point of 2,522 transactions in December 2016. “Accordingly, 2019 is off to a bad start for the preowned business jet market,” JetNet commented.
Preowned turboprop inventory increased in June by three units, to 1,015, from a year ago. However, as a percentage of the in-service fleet it fell by 0.1 percent, to 6.5 percent, as 350 new-production turboprops entered service over the past year. Average days on the market for turboprops increased by only two days, to 307.
