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Thu, Feb 03, 2011

Pre-Owned Business Aircraft Sales Improved Year-Over-Year In December 2010

Data From Jetnet Shows A 16% Gain Over December 2009, Prices Still Depressed

December 2010 brought some welcome good news in the Biz-Av pre-owned aircraft market. Full Sale Business Jet Transactions of pre-owned aircraft for the year improved by 16% compared to 2009, and exceeded the 2008 transaction level by 4.8%, according to data from Aviation Analyst Jetnet. Most analysts agree that new aircraft orders are based on the successful sale of existing aircraft in the pre-owned market.

The data shows business jet inventory for sale percentage shows the largest change, down 1.5 points, from 16.3% to 14.8%. Most important is the percentage change in Sale Transactions. Business Jets lead with the largest percentage gain, 16%, compared to 2009. All business and helicopter aircraft categories took longer to sell in 2010, ranging from 31 to 72 more days in the year-over-year (YOY) comparisons.

All pre-owned aircraft categories show a decrease in the average asking price, ranging from a low of -1.5% for piston helicopters to -18.5% for business jets. The Pre-owned Piston Helicopter segment is the only sector down in sale transactions (a 8.6% drop) in 2010 compared to 2009.

The number of pre-owned turbine helicopters for sale in December 2010 was slightly more than 1,200 helicopters, or 139 less than the business turboprop market. The percentage for sale of 7.0% in 2010 (a buyer’s market) was higher than the 6.9% level of 2009. A buyer’s market in the helicopter world is when the percentage of helicopters for sale exceeds 5% of the fleet. The number of pre-owned full sale transactions for turbine helicopters increased by 14.5% in 2010 compared to 2009. Again, this improvement in sales is excellent news for the turbine helicopter industry.

The average days on the market for turbine helicopters was 309 days, or 70 days more in 2010 compared to 2009. However, the average asking price fell by 13.2% in 2010 compared to 2009.

The number of pre-owned piston helicopters (excluding Russian-manufactured aircraft) for sale in December 2010 was 629 helicopters, or nearly half the number of turbine helicopters. The percentage for sale of 7.0% (a buyer’s market) was only slightly below the 7.1% level from the same period of 2009. The number of pre-owned full sale transactions for piston helicopters decreased by 8.6% in 2010 compared to 2009. The average days on the market for piston helicopters was 281 days, or 72 days more in 2010 compared 2009. However, the average asking price for piston helicopters fell by 1.5% in 2010 compared to 2009.

Jetnet concludes that the reality is the current business down cycle will last longer than the industry would like. The good news, they say, is that the business aircraft and helicopter markets seem to be on the right track.

FMI: www.jetnet.com

 


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