The inventory of available business aircraft continues to rise, according to the latest information from industry data provider Amstat. In a snapshot of December’s activity, general manager Andrew Young told AIN that there were more than 2,400 preowned jets and turboprops on the market, 32 percent more than there were a year ago. That level, however, is still 19 percent below the 10-year monthly average number of listings. Preowned transactions for the first three quarters of 2023 were down by 19 percent year-over-year.
Jets showed available inventories of 7 percent of the active fleet across the board, according to Amstat. In the heavy jet segment, that represents a 43 percent increase from the year before and nearing the 10-year average of 8 percent for the month. That increased availability coupled with a reduced amount of transactions has led to a 9 percent drop in median value for the segment.
For the super-mid category, inventory increased by 63 percent from the same period in 2022, while preowned transactions declined by 31 percent. That combination resulted in a 9 percent drop in median values year to date.
The number of medium jets on market rose by 41 percent compared with last year but was still 24 percent below the 10-year average monthly level. The light jet segment had a 24 percent increase in available aircraft compared to a year ago, while its median values saw a 3 percent erosion from 2022, and 8 percent since April.
For the business turboprop fleet, 4 percent of active aircraft are on the market, a 23 percent YoY decrease, while transactions declined by 20 percent during the first three quarters of the year. Since September median turboprop values have dipped by 5 percent.
“Modest declines in preowned median values across all business aircraft market segments reflect greater availability, albeit below historical averages in most markets, and lower transaction activity year-over-year, albeit at levels that are often not substantially below historical averages,” Young said. “The two standouts from these trends are the super-mids with preowned inventories now 10 percent ahead of their historical monthly average, and light jets with preowned transactions year-to-date exceeding their 10-year average by 5 percent.”