As many industry experts had predicted last year, 2022 has so far continued the same trends in the preowned business aircraft market: Inventory remains low and demand remains high.
New numbers from Asset Insight show that only 3.1% of the active aircraft fleet was available for sale in the first quarter of the year, a movement largely being fueled by first-time buyers, according to the analysis firm.
“Nobody foresaw the frenetic buying environment we continue to experience,” Asset Insight President Tony Kioussis said of the general-industry mindset ahead of the pandemic. “(Now) buyers are obtaining their ask prices, if not more, and owners of high-quality, low-time, recent model aircraft may not even have to list their asset to secure a sale.”
Pre-owned business aircraft sales set new records during the just-finished quarter. The quality rating of the for-sale fleet reached a 12-month high, while the cost of embedded or accrued aircraft maintenance approached a 12-month low.
Posted ask prices rose more than 14% year over year, as young, low-time aircraft continued to sell quickly, many without a formal listing and at prices outpacing the listing.
The percent of the active fleet, at 2.4% in March of this year was two-thirds lower than it was a year ago, according to Asset Insight’s data, with an average asking price of nearly $17.5 million, up from less than $12 million in April of last year.
The numbers show that large jets and turboprops have only 2.4% and 2.9% of the active fleet listed for sale, respectively, while just 3.8% of mid-size jets and 3.2% of light jets were up for sale in March.
Among the faster sellers, an average of 46 days on market for a Challenger 605 for sale, 67 days for a Dassault Falcon 2000 LXS, and 63 days for a Gulfstream 650ER.
Check out the complete business aircraft market analysis from Asset Insight here.
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