Used inventory of ultra long range jets (5000nm+) closed April at a 4-year high of 181 units based on our tracking. Inventory has been below 180 units since July of 2016. 

Withdrawn: -6 / -3

End of April Cumulative YTD 2020 vs 2019

New Listings: +81 / +67

Withdrawn: -22 / -14

Sales: -25 / -42

Net: +34 / +11

April net change in inventory, from:

Month Prior: +6 (3.4%)

YTD: +34 (23.1%)

Y/Y: +44 (32.1%)

Recent Low +67 (58.7%) from August 2018

Some takeaways:

• Inventory was already building steadily before COVID, + 20 units in January/February
• We can assume March data was only partially impacted by the pandemic
• Just 4 closings in April, lowest in the past 48MO
• But, new listings were on the light-ish side as well (16), which partially abated the increase in inventory

We are finalizing May numbers but the preliminary data appears more or less flat.

Happy flying.