Used Market Continues Recovery
The latest business aircraft market report from JETNET suggests the long, slow recovery is continuing and could be in full swing by 2012. With prices hitting rock bottom almost across the board, it's perhaps not surprising that sales have increased by 15.3 percent in the first half of the year. Nevertheless, the speedy depletion of used inventory is key to opening the market for new inventory from manufacturers and JETNET says that seems to be happening. Used prices are also on the rise after two years of decline.
JETNET says the average asking price for used aircraft jumped $1.2 million in June compared to June of 2010. "While one month of improvement is not a trend, it is hoped this key metric will continue to improve," the report said. Although the signs are positive, there are still too many business jets for sale. Of all the world's business jets, 13.8 percent are for sale and about 12 percent is considered normal.