Thu, Jul 11, 2013
JETNET Reports An Increase In Average Asking Price In First Five Months Of 2013
JETNET has released May 2013 and the first five months of 2013 results for the pre-owned business jet, business turboprop, helicopter and Commercial Airliner markets. Comparing May 2013 to May 2012, “Fleet For Sale” percentages for business jet and business turboprop market sectors were down, but increased slightly in the helicopter markets.
Business jets are showing a slow start in the five months of 2013 with a 7.0% decrease in pre-owned sale transactions, and are taking more time to sell (62 days) than last year, with a 8.6% increase in average asking price. This is the first time this year that there has been an increase in the YTD average asking price. Business turboprops decreased 3.9% in sale transactions, with a double-digit increase in asking price of 13.4%.
Both turbine and piston helicopters saw double-digit declines in sale transactions YTD at 22.9% and 26.1%, respectively. Turbine helicopters recorded a double-digit decrease in average asking price, at 32.2% in the YTD comparisons through May 2013.
It is noteworthy that the number of YTD pre-owned sale transactions for commercial airliners (at 890) is slightly ahead of business jets (at 882). However, commercial turboprop YTD sale transactions are significantly lower at 238.
Real gross domestic product-the output of goods and services produced by labor and property located in the United States-increased at an annual rate of 1.8% in the first quarter of 2013 (that is, from the fourth quarter to the first quarter), according to the “third" estimate released by the Bureau of Economic Analysis. The BEA release showed the economy has now grown for the 15th straight quarter.
The report indicates that U.S. Jet A fuel price in the first quarter of 2013 reached a new record peak of $7.27 per gallon. The earlier record peak ($6.83 in the third quarter of 2008) was shorter lived compared to the recent one that has slowly increased to a new record level.
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