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JETNET releases July and first seven months 2010 pre-owned Business Jet, Business Turboprop and Helicopter market information
Summer 2010: Recovery continues, but at an uneven pace JETNET LLC, the leading provider of corporate aviation information, has released the July 2010 results for the pre-owned business jet, business turboprop, and helicopter markets. Market Summary Highlighted in Table 1 are the key worldwide trends across all aircraft market segments for the first seven months of 2010 versus 2009. Business jet inventory for sale shows the largest change (down 2.8 points), down to 14.9% from 17.7%. Most important is the percentage change in the Sale Transactions; business jets lead with the largest percentage gain, 33.8%, compared to 2009. All aircraft categories are taking longer to sell in 2010, ranging from 30 to 126 more days in the YTD comparisons. The piston helicopter segment is the only one in the aircraft market to show an increase in the average asking price (of 2.9%). However, the piston helicopter segment is also the only one to be down in sale transactions (a 6.3% drop). Table 1
Business Jet Aircraft The July 2010 pre-owned business jet inventory percentage for sale was down to 14.9% worldwide. This is a significant change compared to the “record” level in July 2009 of 17.7% for sale. The number of business jets for sale at the end of July 2010 was slightly more than 2,600 aircraft, compared to 2,961 a year ago in July 2009. This month-over-month decrease was the largest single month decline this year at 345, or 11.7% fewer business jets for sale. Table 2
As the for sale inventory has declined, the number of pre-owned full sale transactions increased to 157 in July 2010, up from 137 in 2009. However, when the first seven months of 2010 (at 1,038) is compared to the first seven months of 2009 (at 776), pre-owned full sale transactions are up by 33.8%. Also, they were taking an additional 77 days on the market before selling in the first seven months of 2010 compared to the same period in 2009, while asking prices were down by nearly 13%. Business Jet Aircraft For Sale - By Age Table 3 is a grouping of the business jet aircraft for sale by age in five-year intervals. There has been a 10% decrease in business jets offered for sale from 2,617 in July 2010 to 2,910 in July 2009. The age segment from 0 to 10 years has maintained the largest percentage for sale at a combined 31% (July ‘09) and 27% (July ‘10), followed by the age segment 30+ years at 20% (July ‘09) and 24% (July ‘10). The age segment from 0 to 10 years declined by 4% and the age segment 30+ years increased by 4% during this 12-month period. The age segments between remained nearly the same. Table 3
Business Turboprop Aircraft The inventory levels for pre-owned business turboprop aircraft for sale at the end of July 2010 have followed the same pattern as the business jet aircraft market. The percentage of pre-owned business turboprop aircraft for sale was 10.9% in July 2010, and has declined from the peak of 12.0% set in both May and June 2009. The number of business turboprops for sale at the end of July 2010 was slightly less than 1,400 aircraft. Table 4
The number of pre-owned business turboprop aircraft full sale transactions in July 2010 dropped by 1/3 (or 69) compared to 105 in July 2009. In our view this is a significant one-month decline, a trend that we will continue to track and report. However, looking at the seven-month total transactions shows a 5.5% increase in the year-to-date numbers compared to the same period in 2009. It’s taking an additional 30 days on the market for business turboprop aircraft to sell, and the average asking price is down by 10.5% in the first seven months of 2010 compared to the same period in 2009. Helicopter – Turbine The number of pre-owned turbine helicopters for sale in July 2010 was less than 1,200 helicopters, or 200 less than the business turboprop market. The percentage for sale at 6.8% in July 2010 changed little from 6.7% in July 2009. However, the number for sale increased by 77 helicopters, or 7.1% in July 2010 compared to July 2009. Table 5
The number of pre-owned full sale transactions for turbine helicopters increased by 13.1% in the first seven months of 2010 compared to 2009. However, they’re taking an additional 97 days to sell, and at lower asking prices, in the first seven months of 2010 compared to 2009. Helicopter – Piston The number of pre-owned piston helicopters for sale in July 2010 was 564 helicopters, or half the number of turbine helicopters. The percentage for sale at 6.3% was below the 7.4% level from the same period of 2009. There were 74 fewer piston helicopters for sale on the market in July 2010 compared to July 2009. Table 6
The number of pre-owned piston helicopters full sale transactions in July 2010 decreased nearly 25% compared to July 2009. However, transactions are down by 42 in the first seven months of 2010, or 6.3%. We will track this month-over-month declining trend in the remaining months of 2010. Also significant is the average days on market of 312 days for piston helicopters, or 162 more days to sell in the first seven months of 2010 compared 2009. However, the average asking price for piston helicopters remained relatively unchanged in the January to July 2010 period compared to 2009. Since 1988, JETNET has delivered the most comprehensive and reliable business aircraft research to its exclusive clientele of aviation professionals worldwide. JETNET is the ultimate source for information and intelligence on the worldwide business aircraft fleet and marketplace, comprised of some 60,000 airframes. The company offers services for both fixed wing and helicopter aircraft. Headquartered in its state-of-the-art facility in Utica, NY, JETNET offers comprehensive user-friendly aircraft data via real-time internet access or regular updates. For more information on JETNET LLC log on to jetnet.com or contact Paul Cardarelli, JETNET Director of Sales and Marketing, at 800-553-8638 (USA) or paul@jetnet.com International inquiries, contact Karim Derbala, JETNET Exclusive Agent, EMEA, at 41.0.43.243.7056 or karim@jetnet.com
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