Aircraft
JetNet: Used Inventory Down, New Bizjet Buy Plans Up
At its seventh annual JetNet IQ Summit in New York, the industry data provider presented results from its most recent survey.
JetNet IQ founder and director Rolland Vincent presented the most recent results from the company's third-quarter industry survey, which showed increasing optimism from its respondents, along with stronger new aircraft purchase plans. (Photo: Curt Epstein/AIN)
JetNet IQ founder and director Rolland Vincent presented the most recent results from the company's third-quarter industry survey, which showed increasing optimism from its respondents, along with stronger new aircraft purchase plans. (Photo: Curt Epstein/AIN)

The preowned business jet inventory is at its lowest level in nearly a decade, according to data presented this morning at the seventh annual JetNet IQ Summit in New York City. According to Paul Cardarelli, the Utica, N.Y. data provider’s vice president of sales, of the 21,870 aircraft worldwide, 2,285 are currently on the market. That equates to 10.5 percent, a level not seen since November 2007. While pre-owned sales are up 6 percent year-over-year, Cardarelli believes the total number of available aircraft might be affected by owners who have decided to remain with their jets longer due to shrinking residual values.