docSummer 12 Market Report-Phenom-web
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Summer 12 Market Report-Phenom-web
Norway Canada Ireland UK France Switzerland Italy Spain USA Sales • Delivery • Training Germany Austria Turkey Portugal Greece China Jordan Mexico Saudi Arabia India Panama Philippines Singapore Ecuador Brazil Australia S. Africa Argentina jetAVIVA’s Global Reach jetAVIVA has transacted and delivered hundreds of aircraft into over 30 countries around the world. jetAVIVA provides unmatched expertise and client focus to those purchasing a turbine aircraft. From aircraft selection to familiarization, acquisition and technical evaluation, only jetAVIVA has the knowledge, understanding and breadth of experience to perfectly match the right aircraft with the mission requirements that are right for you. Cover photo courtesy of Jessica Ambats Summer 2012 • jetAVIVA • 2800 28th St. Ste 306, Santa Monica, CA 90405 • +1.310.907.5099 • [email protected] Summer 2012 EMBRAER PHENOM 100 & 300 MARKET REPORT Prepared by Greg Oswald Vice President, Phenom Market [email protected] Patrick O'Brien Vice President, Market Intelligence [email protected] Summer 2012 • jetAVIVA • 2800 28th St. Ste 306, Santa Monica, CA 90405 • +1.310.907.5099 • [email protected] Summer 2012 Phenom 100 & 300 Market Report Phenom 100: Average Price* Phenom 100: % For Sale $3025000 Summer 2012 Market Overview Phenom 100 pre-owned inventory level increases by 20% Pre-Owned transactions in Phenom 100 market consistent at 2% Phenom 300 fleet increases by 33% in first half of 2012 Pre-Owned Phenom 300 market comes to life in first half of 2012 The jetAVIVA Team Phenom 100 Ben Marcus Co-founder Cyrus Sigari Co-founder Greg Oswald VP Phenom Market Matt Stringfellow VP Mustang Market David Lee VP Pilatus PC12 Market Andrew Gallagher VP Piper Meridian Market Marcio Lucchese Manager, Phenom Acceptance & Delivery Services Scott Marti Training Manager Derrick Schmidt Director of Maintenance & Technical Services Patrick O'Brien VP Market Intelligence The first half of 2012 has proven the Phenom 100 market is stable. With a slight up tick in pre-owned inventory levels and modest down tick in transaction prices the market appears to be on autopilot and, arguably, losing its forward momentum. With five pre-owned transactions in each of the last two quarters and average sale prices falling into the $2.75-2.80M range, pre-owned sales are trending towards early model aircraft. An example of this trend is seen by the dramatic fall in average transaction prices in Q1 2012 (see “Average Price” graph), partly due to the age and pedigree of aircraft that sold in Q1 and Q2 2012 compared to previous quarters. With inventory levels escalating approximately 20% since Q1 2012, there are an increasing number of listings associated with owners stepping up through the jet ranks. This natural progression brings opportunity for both buyers and sellers, as every owner that steps up creates an opportunity for someone on the opposite side of the transaction and builds liquidity in the jet market. The pre-owned market will remain healthy as long as factory new deliveries do not exceed demand. Currently, deliveries are down 25% from a year ago with only 9 OEM deliveries thus far in 2012. Phenom 300 As the latest addition to Embraer’s single-pilot business jet line-up, the Phenom 300 is slowly establishing a pre-owned market. Thus far in 2012, three aircraft have exchanged hands, representing approximately 4% of the market. By the time you read this report the market will likely transact another two aircraft bringing the total transactions in 2012 to 7% of the market. With only one pre-owned transaction in 2011, it is fair to say the pre-owned 300 market is established. Pricing on pre-owned aircraft is holding steady in the mid to high seven million dollar range with the average ask price at $7,800,000. As the fleet continues to age current owners will be looking for more capability, and this will provide an opportunity for 100 owners to climb into the largest single-pilot jet available at enticing price points. Jennifer Moss Administrative Assistant Summer 2012 • jetAVIVA • 2800 28th St. Ste 306, Santa Monica, CA 90405 • +1.310.907.5099 • [email protected] 8% $2990000 $2955000 $2920000 $2885000 $2850000 $2815000 Phenom 300: % For Sale $2780000 5% $2745000 $2710000 $2675000 2009 2010 2011 2012 *Represents jetAVIVA average transaction history. Phenom 100 & 300 Summer 2012 100 300 Used Aircraft Listings 19 4 Total Fleet 247 85 Percent of Fleet for Sale 7.7% 4.7% Low Ask Price $2,495,000 $7,500,000 Average Ask Price $2,915,000 $8,050,000 Average Airframe Total Time 400 250 Average Days on Market 180 200 OEM Deliveries (2012) 9 22 Pre-Owned Transactions (2012) 10 3 Sources: AMSTAT, JetNet, Aircraft Blue Book, UBS Market Research, JPMorgan, jetAVIVA Research Team. Summer 2012 • jetAVIVA • 2800 28th St. Ste 306, Santa Monica, CA 90405 • +1.310.907.5099 • [email protected] Summer 2012 Phenom 100 & 300 Market Report Phenom 100: Average Price* Phenom 100: % For Sale $3025000 Summer 2012 Market Overview Phenom 100 pre-owned inventory level increases by 20% Pre-Owned transactions in Phenom 100 market consistent at 2% Phenom 300 fleet increases by 33% in first half of 2012 Pre-Owned Phenom 300 market comes to life in first half of 2012 The jetAVIVA Team Phenom 100 Ben Marcus Co-founder Cyrus Sigari Co-founder Greg Oswald VP Phenom Market Matt Stringfellow VP Mustang Market David Lee VP Pilatus PC12 Market Andrew Gallagher VP Piper Meridian Market Marcio Lucchese Manager, Phenom Acceptance & Delivery Services Scott Marti Training Manager Derrick Schmidt Director of Maintenance & Technical Services Patrick O'Brien VP Market Intelligence The first half of 2012 has proven the Phenom 100 market is stable. With a slight up tick in pre-owned inventory levels and modest down tick in transaction prices the market appears to be on autopilot and, arguably, losing its forward momentum. With five pre-owned transactions in each of the last two quarters and average sale prices falling into the $2.75-2.80M range, pre-owned sales are trending towards early model aircraft. An example of this trend is seen by the dramatic fall in average transaction prices in Q1 2012 (see “Average Price” graph), partly due to the age and pedigree of aircraft that sold in Q1 and Q2 2012 compared to previous quarters. With inventory levels escalating approximately 20% since Q1 2012, there are an increasing number of listings associated with owners stepping up through the jet ranks. This natural progression brings opportunity for both buyers and sellers, as every owner that steps up creates an opportunity for someone on the opposite side of the transaction and builds liquidity in the jet market. The pre-owned market will remain healthy as long as factory new deliveries do not exceed demand. Currently, deliveries are down 25% from a year ago with only 9 OEM deliveries thus far in 2012. Phenom 300 As the latest addition to Embraer’s single-pilot business jet line-up, the Phenom 300 is slowly establishing a pre-owned market. Thus far in 2012, three aircraft have exchanged hands, representing approximately 4% of the market. By the time you read this report the market will likely transact another two aircraft bringing the total transactions in 2012 to 7% of the market. With only one pre-owned transaction in 2011, it is fair to say the pre-owned 300 market is established. Pricing on pre-owned aircraft is holding steady in the mid to high seven million dollar range with the average ask price at $7,800,000. As the fleet continues to age current owners will be looking for more capability, and this will provide an opportunity for 100 owners to climb into the largest single-pilot jet available at enticing price points. Jennifer Moss Administrative Assistant Summer 2012 • jetAVIVA • 2800 28th St. Ste 306, Santa Monica, CA 90405 • +1.310.907.5099 • [email protected] 8% $2990000 $2955000 $2920000 $2885000 $2850000 $2815000 Phenom 300: % For Sale $2780000 5% $2745000 $2710000 $2675000 2009 2010 2011 2012 *Represents jetAVIVA average transaction history. Phenom 100 & 300 Summer 2012 100 300 Used Aircraft Listings 19 4 Total Fleet 247 85 Percent of Fleet for Sale 7.7% 4.7% Low Ask Price $2,495,000 $7,500,000 Average Ask Price $2,915,000 $8,050,000 Average Airframe Total Time 400 250 Average Days on Market 180 200 OEM Deliveries (2012) 9 22 Pre-Owned Transactions (2012) 10 3 Sources: AMSTAT, JetNet, Aircraft Blue Book, UBS Market Research, JPMorgan, jetAVIVA Research Team. Summer 2012 • jetAVIVA • 2800 28th St. Ste 306, Santa Monica, CA 90405 • +1.310.907.5099 • [email protected] Norway Canada Ireland UK France Switzerland Italy Spain USA Sales • Delivery • Training Germany Austria Turkey Portugal Greece China Jordan Mexico Saudi Arabia India Panama Philippines Singapore Ecuador Brazil Australia S. Africa Argentina jetAVIVA’s Global Reach jetAVIVA has transacted and delivered hundreds of aircraft into over 30 countries around the world. jetAVIVA provides unmatched expertise and client focus to those purchasing a turbine aircraft. From aircraft selection to familiarization, acquisition and technical evaluation, only jetAVIVA has the knowledge, understanding and breadth of experience to perfectly match the right aircraft with the mission requirements that are right for you. Cover photo courtesy of Jessica Ambats Summer 2012 • jetAVIVA • 2800 28th St. Ste 306, Santa Monica, CA 90405 • +1.310.907.5099 • [email protected] Summer 2012 EMBRAER PHENOM 100 & 300 MARKET REPORT Prepared by Greg Oswald Vice President, Phenom Market [email protected] Patrick O'Brien Vice President, Market Intelligence [email protected] Summer 2012 • jetAVIVA • 2800 28th St. Ste 306, Santa Monica, CA 90405 • +1.310.907.5099 • [email protected]
