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Report: Used business jets staying on market longer

  • The Wichita Eagle
  • Published Wednesday, August 28, 2013, at 11:17 a.m.

The average number of days used business jets are on the market have increased to 402 days – 28 days longer than a year ago, a new market valuation report by aircraft brokerage company Holstein Aviation in Carmel, Ind., said.

A certain percentage of the increased time on the market is attributed to older aircraft that may never sell, the Holstein Aviation JetPak Aircraft Valuation report said.

Nevertheless, “jet transactions overall are ... taking longer to occur,” the report said.

The health of the used business jet market affect the sale of new jets.

Inventory slowly continues to decrease. But asking prices for jets remain in a somewhat downward trend.

Turboprops, however, are beginning to show some signs of price stability as the percentage of aircraft for sale remains considerably lower than business jets, it said.

According to the market report:

• The number of Beech King Air C90B turboprops on the market declined 28 percent from a year ago. C90Bs for sale had an average model year of 1998 and an average asking price of $1.4 million, down $70,429 from a year ago.

• The number of Beech King Air 350is on the market rose by one in the past year. The planes on the market have an average model year of 2010 with an average asking price of $6.04 million, down $49,000 from a year ago, a 0.8 percent decline.

• The number of Cessna Citation Mustangs on the market remained the same in the past year. Planes for sale had an average model year of 2009 with an average asking price of $2.12 million, down $127,950 from a year ago, a drop of 5.5 percent.

• The number of Citation CJ4 jets on the market remained flat in the past year. CJ4s on the market have an average model year of 2011 with an average asking price of $7.5 million, down $203,333 from a year ago, a decline of 2.6 percent.

• The number of Bombardier Lear 40XR jets on the market fell 55 percent from a year ago. Planes on the market had an average model age of 2007 with an average asking price of $4.37 million, down $405,000 from a year ago, a decline of 8.5 percent.

• The number of Lear 45 jets on the market remained flat from a year ago. Lear 45s on the market had an average model year of 2001 with an average asking price of $3.37 million, down $214,308, a decline of 6 percent.

Reach Molly McMillin at 316-269-6708 or mmcmillin@wichitaeagle.com. Follow her on Twitter: @mmcmillin.

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