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Daher continues to deliver TBM930s out of the factory at an impressive rate, with another nine (9) aircraft added to the fleet in Q1; bringing the current 900/930 fleet to 154 aircraft in just over 3 years. A brisk pace if compared to the 232 G1000-equipped 850s delivered over the span of approximately 6 years. On the pre-owned side, four (4) 900s and one (1) 930 sold, with sale prices ranging in the high $2M - low $3Ms.
Q1 brought with it a slight slowdown in action on the G1000 equipped 850 market, with six (6) units sold, down from eleven (11) in Q4 2016, but no meaningful change in values: 2008/2009 models are trading in the $1.9M - $2.05M range, 2010- 2012 in the $2.25M - $2.35M range, and 2013/2014 in the $2.45M - $2.6M range.
Legacy 850s also saw a substantial slowdown in activity, with only one (1) unit trading hands in Q1, down from four (4) in Q1 of 2016, and down from five (5) in Q4 2016. While inventory remains at a healthy 8% of the fleet, pricing has seen a slight reduction due to aging airframes and additional flight hours. We are seeing units move relatively quickly once on the market and trading in the $1.5M - $1.75M range.
Without fail, the TBM 700C2 continues to be a strong buy, with some aircraft selling before they even hit the market. Q1 recorded two (2) sales, down from four (4) in Q4 2016, with pricing in the low to mid $1M range. The 700B model continues to see strong activity with those units having Garmin upgrades in the cockpit selling quickest. Q1 saw three (3) sales with pricing consistently in the $1M - $1.2M range. We are happy to report that 700A inventory levels remain well below where they were just a year ago, helping to keep values virtually unchanged. Only one (1) unit traded hands in Q1, with pricing sitting right in the middle of the range of where they are selling from $700K - $900K.
|900 & 930|
|Current For-Sale Inventory||10||8||7||7||14||11|
|Percent of Fleet for Sale (Current)||9.4%||9.2%||7.4%||8.3%||6.0%||7.1%|
|Pre-Owned Transactions (Q1 2017)||1||3||2||1||6||5|
|Average Days on Market*||429||241||117||-||156||119|
|New Deliveries (Q1 2017)||-||-||-||-||-||9 (all 930s)|
*For Aircraft Sold in Recent Quarter. Does not include “Off Market” sold aircraft.