Inventory has increased for six consecutive quarters, Vref says. (07/19/2024)
The preowned business aircraft market has seen six consecutive quarters of reduced pricing and increased inventory, with aircraft staying on the market longer, according to valuation specialist Vref.
“The aviation market, traditionally resilient, is experiencing unique challenges this summer,” said Vref president Jason Zilberbrand in the company’s 2024 mid-year outlook. “We are observing a slowdown in business aviation transactions, with an aging fleet and increased price reductions to close deals.”
Used business jet inventory is up 18% year over year and Zilberbrand said, “My inbox is flooded with price reduction notifications. Aircraft sitting unsold for over 90 days are often overpriced, reflecting a necessary market correction post-Covid.”