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The past 12 months were not great ones for the Learjet 45 market, which includes all variants of the original 1999 Learjet 45: the 40, 40 XR, 45, 45 XR, 70 & 75. At one point, average asking prices for the different variants were down between 15-25% this year, compared year over year. The good news: this downward trend is now stabilizing. Pre-owned inventory levels on nearly all models varied throughout the year, but end-of-year levels were very close to their respective levels at the end of 2015. A healthy market is typically below 10% in the 7-8% range. Fortunately, flat Inventory levels don’t necessarily mean aircraft aren’t moving – after a slow start, retail sales were up in the second half of the 2016 buoyed by the very competitive prices seen. All these trends were indicators of a buyer's market.
Outlook: We believe we’re seeing the bottom of the pricing curve with all trends stabilizing after a market correction. Demand on the preowned market should continue steadily through the next 12 months as prices remain at competitive levels. In the current market, Learjet Model 45 variants are a great value so there will be no lack of buyers if priced correctly.
|40||40 XR||45||45 XR||70||75|
|Current For-Sale Inventory||8||15||29||24||2||3|
|Percent of Fleet for Sale (Current)||21.1%||16.0%||11.9%||11.7%||15.4%||3.3%|
|Pre-Owned Transactions (Q4 2016)||0||8||8||6||0||0|
|Average Days on Market*||-||99||176||518||-||-|
|New Deliveries (Q4 2016)||-||-||-||-||0||9|
*For Aircraft Sold in Recent Quarter. Does not include “Off Market” sold aircraft.