Used Business Jets For Sale In February Rise 5%
The number of pre-owned business jets on the market in February rose 5% compared to a year ago and 1% compared to January, according to research from Jefferies.
Meanwhile, average list prices declined 7% from a year ago and 2% compared to January, it said.
The number of jets for sale in February, 1,771, represent 7.5% of the active fleet, including all models and vintages, compared to 1,681 jets a year ago and 1,746 in January.
The number of heavy business jets for sale rose 10% from a year ago with 389 aircraft for sale, accounting for 5.7% of the fleet. Medium jets on the market rose 8% from a year ago, representing 7.2% of the active fleet. And the number of light jets for sale rose 2% from the previous year, representing 9.2% of the active fleet, Jefferies said.
More than 60% of business jet sales were replacement aircraft for current owners, Jefferies said. Demand for new aircraft is spurred by the prevailing conditions of the used market. New orders tend to increase as inventories of pre-owned aircraft decline and residual values increase.
Average list pricing in February also declined. Pricing fell an average of 7% from a year ago and 2% compared to January.
The number of Bombardier jets for sale rose 33% compared to a year ago to 162 units, while average list prices declined 9% year-over-year.
The number of Cessna business jets on the market in February totaled 238 aircraft, up 10% from a year ago, representing 6.4% of the active fleet. List prices, meanwhile, fell 3% from a year ago.
Dassault aircraft for sale totaled 68, up 31% from a year ago, equaling 6.5% of the fleet. Pricing declined 1% compared to a year ago.
Embraer business jets for sale totaled 84 aircraft, up 35% from a year ago, while pricing declined 8%.
Gulfstream inventories on the market rose 55% from a year ago to 101 aircraft, equaling 5.1% of the total fleet. At the same time, pricing contracted 13%.