• The modern pre-owned jet market has experienced a steady upward trend in available aircraft inventory, now at 2.7% of the active fleet available for sale. Inventory is up 33% from its all-time low in February but remains far below the 8–10% of fleet availability that has historically been indicative of a balanced market
• Some popular pre-owned markets have seen available inventory more than triple in the past 120 days. This rapid increase in inventory has created caused values to plateau, and in some cases, decline slightly as aircraft buyers have options for the first time this year
• The pre-owned markets continue to experience unprecedented demand, strong transaction volume, and limited inventory; all of which have allowed the markets to power through the macroeconomic headwinds that would have historically had a much more profound impact on transaction volume and values

• Aircraft values have increased by an average of 45% YOY across the most popular pre-owned jet markets, with some models increasing by as much as 65% since the start of the pandemic
• After the value hysteria of the past two quarters, values plateaued in Q2 as inventory rose and the market finally took note of macro-economic pressures
• We expect values to trend down nominally in Q3 as inventory builds, buyers have more selection, and sellers execute transactions so as not to miss the potential “top” of the market

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• The chart below includes data provided by the International Aircraft Dealers Association, an association of the 60 largest dealers/brokers in the world
• Importantly, June was the first month since February 2021 that newly signed sales agreements exceeded newly signed acquisition agreements. While we expect most of the new inventory to be quickly absorbed by buyers who have been waiting patiently, this is a trend that will begin impacting values more dramatically in future quarters

• Q2 experienced the largest increase in pre-owned aircraft supply since Q3 of 2020. Notably, many of the most popular aircraft models have experienced the most dramatic increases in supply over the past 90 days
• 77% of the aircraft available for sale are based in either N. America or W. Europe, up from 64% in the market lows in February. This rise in high-quality, historically better maintained aircraft than those coming out of SE Asia or China has provided buyers with options from which to choose