For Used Aircraft, It's Still a Buyer's Market

Seven percent fewer pre-owned business jets and turboprops were on the market last month than in the same month in 2009, according to aviation data supplier JetNet. But inventory as a percentage of in-service aircraft remains high for business jets at 15.3 percent (2,674 aircraft), and while down 2.1 percent from May 2009 this still indicates a buyer's market. Average asking prices for business jets were 32 percent lower last month than they were a year ago, according to JetNet. Business jet transactions rose 12.7 percent from May 2009, but older inventory appears to be languishing as average days on the market skyrocketed 72 percent, to 363 days. Turboprops, meanwhile, continued their move toward more normal inventories, with 10.8 percent of the fleet (1,366 aircraft) available last month. That's 1.2 percentage points lower than in the same month last year. Used turboprop transactions rose 12.3 percent year-over-year, but asking prices slid 42.8 percent. Average number of days on the market for pre-owned turboprops during this period increased 90 days to 338.