Preowned Aircraft Markets Improving

The market for preowned business jets and turboprops improved somewhat in the first half of this year, according to data provider JetNet, which forecasts sustained growth in 2012. The company reported a 15.3 percent increase in preowned business jet retail sales through June compared with the same period in 2010. Sales of preowned business turboprops, meanwhile, increased 3.7 percent. Average asking prices through June were down 18.6 percent from the year before for business jets and 3.8 percent for business turboprops. The number of business jets for sale dropped below 2,500 (to 2,493) for the first time since November 2008, which JetNet called "a positive sign."