Used Aircraft Inventory Down Slightly
Business aircraft use is up and used aircraft inventories are down but both are a long way from the heady days of early 2008, according to a study released by JETNET. There are still 2,700 used business jets on the market and 1,400 turboprops for sale in the U.S. but both figures are down slightly compared to the same time last year. The number of jets for sale represents 15.5 percent of the fleet, down from 17.7 percent at its peak in July of 2009. Proportionately fewer turboprops are on the market. As of the end of April, about 11 percent were available compared to the high of 12 percent last summer. Meanwhile, perhaps one of the most encouraging signs is the increase in business aircraft use.
JETNET says the FAA is reporting that business jet use was up 11.3 percent in the first quarter of 2010 over 2009; it also noted that the 2009 figure was down by more than 30 percent over the previous year. So, despite the double-digit increase this year, business jet operations are still down by 21 percent when compared to the pre-recession days. So, it's still a buyer's market out there and prices remain depressed, but it looks like it isn't going to last forever.