Inventories of preowned business jets, turboprops and helicopters are all trending lower, dropping by an overall average of 0.5 percent year-over-year in September, according to data released on Monday by business aviation information firm JetNet. Business jets and turboprops showed the largest declines, with inventory of the former deflating by 1.1 percent from a year ago, to 10.4 percent, and of the latter falling by 0.7 percent, to 7.4 percent.

“This is very good news, but we are just above the 10 percent line for business jets and still in a buyer's market,” JetNet said, adding that this inventory now sits at just above 2,200 aircraft.

Over the first nine months, preowned business jet sale transactions rose 5.9 percent year-over-year, to 1,946, but jets are taking the same amount of time to sell at 313 days. Conversely, JetNet said used turboprop sale transactions fell 10.2 percent, to 911, and average number of days on the market rose by 13, to 309 days.

Turbine helicopter transactions during the first three quarters increased—by 5.9 percent, to 1,061—but so did the average number of days on market, which soared by 50, to 487 days. Despite units up for sale taking more than a year to sell on average, turbine helicopter inventory is just 6.5 percent of the installed fleet, 0.3 percent lower than a year ago.

Business aircraft flight activity in North America continued on its trend of healthy increases last month, according to the latest TraqPak data from Argus International. Compared with the year-ago period, activity increased 5.2 percent, the second straight month of at least 5 percent growth. This month, the company is predicting a 5 percent increase from a year ago.

Once again, Part 135 charter flights were out in front, surging by 11.8 percent during the period. Fractional activity climbed 3.6 percent, while Part 91 operations increased by 1 percent.

Analyzed by aircraft category, large and midsize jets were up 7.2 percent and 5.7 percent, respectively, while light jets and turboprops gained 4.9 percent and 4.1 percent. The largest segment increase for the period was large jet charter, up 17.6 percent for the period, followed by midsize jet charter at 12.7 percent. Within the fractional space, light jets posted the largest increase at 9.4 percent. Notably, fractional large-cabin jets posted the only decrease, falling 4.3 percent.

Weekday flights jumped 3 percent, while those on the weekend ascended by 1.8 percent, according to Argus. By region, the U.S. Southeast recorded the most business aviation flights last month at 55,874. The Midwest/Great Lakes region was the next busiest, logging 36,558 flights.

However, business aviation activity was flat comparing September 2017 with August 2017 levels, posting an overall decline of 0.1 percent, while Part 135 activity logged an overall increase of 2.1 percent for the period and fractional flying plunged 6.8 percent. Large jets posted the largest monthly increase overall, up 4.6 percent, while large jet charter climbed by 11.1 percent. Conversely, fractional turboprop operations dropped 16.4 percent.

Index jumps 10% to 53%
Our Business Jet Market Index came in at 53, 10% higher from our prior survey in August and back to its high post the U.S. election. By cabin size, our midsize cabin index is best at 54 (+7% sequentially) followed by small at 53 (+15%) and large cabin at 51 (+12%). Our straight-up measure of absolute business conditions came in at 5.4, 5% higher from our prior survey and the highest since before the financial crisis.

N America continues to lead way while ROW looks better Our index reflects an improved view of pricing (+24%) and inventory (+22%) along with higher customer interest (+11%). North America customer interest  increased 11% and remains strongest at 70, followed by an improving Europe (56) while Asia (51) Latin America (48) and the Middle East (47) appear stable to slightly improving.

Commentary from respondents Respondent commentary generally optimistic on lower young used inventory levels and improved utilization trends, although used pricing still seen declining, albeit at slower rate. In addition, commentary suggests improved trends not yet seen translating to new market. Zetta Jet (Asia charter operator) bankruptcy highlighted as risk.