december

JETNET Releases December 2019 and the Year 2019 Pre-Owned Business Jet, Business Turboprop, Piston, Helicopter, and Commercial Airliner Market Information

As the business jet market has finally broken below the 10 percent threshold of inventory for sale for two years now, a period of transition is now in play, wherein the pendulum continues to swing in favor from the buyer to the seller.

UTICA, N.Y. (PRWEB) February 11, 2020
Market Summary
Highlighted in Table A are key worldwide trends across all pre-owned aircraft market sectors, comparing December 2019 to December 2018, as well as 2019 year-end, and comparisons to 2018.
The ‘For Sale’ inventory grew by 2 percent across all seven market sectors in a comparison of 2019 (6,324) to 2018 (6,201) with business jets and fixed wing piston aircraft accounting for the majority of this increase. Also, there were almost 1,200 or 11.8 percent fewer full-sale transactions in 2019 compared to 2018 with most of the sectors down by double digits percentages. Interestingly, business jets and commercial jets declined around 14 percent each. These two sectors accounted for nearly half of all transactions in 2019.
The Fleet For-Sale percentages for business jets and piston aircraft jumped up .7 percentage point each. Business Jets are at 9.7% increased from 9 percent but still in a buyer’s market of under 10 percent. All aircraft segments were taking more time to sell but only by 2 more days in 2019 compared to 2018 across all market sectors. However, this was mixed, several were taking longer, and several were taking fewer days to sell. For example, business jets were selling in 273 days, less than two weeks-time (13 days) than 2018.
As the business jet market has finally broken below the 10 percent threshold of inventory for sale for two years now, a period of transition is now in play, wherein the pendulum continues to swing in favor from the buyer to the seller. Today the market of available aircraft generally continues to shrink, and still many models exhibit the soft pricing brought on by the diminishment of residual values that completely dominated the post-recession years.
Chart A illustrates that the “For Sale” inventory of business jets has decreased steadily from a high point in July 2009 (2,938) to 2,167 jets in December 2019. That’s a reduction in the percentage of the in-service fleet from 17.7 percent in July 2009 to 9.7 percent now. This is a positive sign, as the inventory “For Sale” has remained below the 10 percent line, albeit slowly. However, the inventory level registered above the 2,000 mark for 11 out of the 12 months of 2019.
Table B shows the Pre-owned Business Jet Retail Transactions (Whole & Leases) comparing 2019 and 2018 by Age grouping. There were 422, or 14.5% fewer Pre-owned Business Jets sold in 2019 compared to 2018.
Two observations are:
The age groups 0 to 20 years saw double digit percentage declines of 20% or greater reflecting
significantly fewer sold transactions in 2019.
The age group over 41 saw a 19% increase in pre-owned transactions in 2019.
Chart B displays the 12-Month moving average for full retail transactions from December 2011 to December 2019 for business jets.
From December 2011, used business jet transactions steadily increased until June 2016 at 2,725. Then there was a sudden drop to 2,534 transactions in December 2016. From this point on, the used business jet market segment has shown a sharp recovery through December 2018 (2,918). Following this peak, however, transactions took a sharp decline to 2,496 in December 2019. This is a new low below the lowest point recorded three years earlier in December 2016 at 2,534.
Table C shows the pre-owned transaction comparison of 2019 and 2018 by aircraft size. Two groups showed increases – Personal Jet and Airline business jet. The remaining 8 groups all showed large declines.
Special note: The Personal Jet category is new and today has but one participant – the Cirrus Jet launched just 4 years ago and having experienced exponential growth in new deliveries over that last 3 years. The Cirrus Vision SF-50 is the first jet of any kind to come with a whole aircraft ballistic parachute. It is also considered the first civilian single-engine jet to achieve certification with the FAA.
Summary
The recovery in business aviation during the post-recession period has been with mixed results, with poor overall aircraft residual values that continue to be problematic. Now that 2020 is here, we hope the U.S. pre-owned market, along with improvements in the world economy, will continue to push more new aircraft purchases. As for now, the pre-owned market is in a seller’s market environment, with Pre-Owned For-Sale inventories running at 9.7%.
As the leading provider of aviation market information, JETNET delivers the most comprehensive and reliable business aircraft research to its exclusive clientele of aviation professionals worldwide. JETNET is the ultimate source for information and intelligence on the worldwide business, commercial, and helicopter aircraft fleet and marketplace, comprised of more than 110,000 airframes. Headquartered in its state-of-the-art facility in Utica, NY, JETNET offers comprehensive, user-friendly aircraft data via real-time internet access or regular updates.

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Miami Total Home Sales Surge Double Digits in December 2019

MIAMI Chairman of the Board Jorge L. Guerra Jr.

“Low mortgage rates and a new tax law continue fueling Miami real estate”

MIAMI (PRWEB) January 22, 2020
Miami-Dade County total home sales surged double digits in December 2019 thanks to a robust increase in mid-market and $1-million-and-up transactions, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
Pending sales, which are indicators of future closed sales and reflect demand, increased in December and have now risen in nine of the last 11 months. In another indicator of strong local demand, months supply of inventory is down since July 2019 for single-family and since March 2019 for condos.
“Low mortgage rates and a new tax law continue fueling Miami real estate,” MIAMI Chairman of the Board Jorge L. Guerra Jr. said. “The new Tax Cuts and Jobs Act reduced certain deductions that homeowners in high-tax states could claim, which is encouraging more residents of states like New York to move to states with no state income tax like Florida.”
Miami Total Home Sales Jump 16.4%Miami total home sales increased 16.4%, from 2,083 to 2,424. Miami single-family home sales increased 16%, from 1,012 to 1,174. Miami existing condo transactions jumped 16.7%, from 1,071 to 1,250.
A rise in mid-market and $1-million-and-up transactions played an integral role in last month’s increases.
Sales for Miami single-family homes priced between $400K to $600K increased 41.2% in December 2019 to 298 transactions. Sales for Miami condos priced between $250,000 to $300,000 increased 33.8% to 190 transactions.
In the luxury market ($1-million-and-up), Miami single-family homes jumped 35.9% to 106 transactions. Luxury Miami existing condos surged 47.5% to 87 transactions in December 2019.
Dollar Volume Increases, Inventory DecreasesSingle-family home dollar volume increased 30.4%, from $539.8 million to $703.8 million. Condo dollar volume rose 30.6%, from $389.4 million to $508.5 million.
Inventory of active listings has decreased the last four months for condos and the last five months for single-family. Months supply of inventory is down since July 2019 for single-family and since March 2019 for condos, reflecting strong demand.
With consumer confidence rising, unemployment low, job creation high and increased migration to Florida, Miami real estate should enjoy steady growth.
According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 3.72% in December, up from 3.70% in November. The average commitment rate across all of 2019 was 3.94%.
Lack of access to mortgage loans continues to inhibit further growth of the existing condominium market. Of the 9,307 condominium buildings in Miami-Dade and Broward counties, only 13 are approved for Federal Housing Administration loans, down from 29 last year, according to Florida Department of Business and Professional Regulation and FHA.
A new condo approval process could increase sales in the future. The new guidance, which went into effect in October 2019, extends certifications from two years to three, allows for single-unit mortgage approvals, provides more flexibility with owner/occupancy ratios, and increases the allowable number of FHA loans in a single project. The changes, many of which MIAMI and NAR has championed, are expected to generate increased homeownership opportunities.
Eight Consecutive Years of Price Appreciation in MiamiMiami-Dade County single-family home prices increased 7% in December 2019, increasing from $355,000 to $380,000. Miami single-family home prices have risen for 97 consecutive months, a streak of 8-plus years. Existing condo prices increased 4.3%, from $235,000 to $245,000. Condo prices have increased or stayed even in 99 of the last 103 months.
Despite the price increase, Miami, where the median price is still comparable to 2006 figures, remains a bargain compared to other global cities. In Miami, $1 million can net homebuyers 93 square meters of prime property, according to Knight Frank’s 2019 The Wealth Report. Monaco (16 square meters), Hong Kong (22), New York (31), Los Angeles (36) and others offer significantly less prime land for $1 million.
Miami Distressed Sales Stay Low, Reflecting Healthy MarketOnly 5.6% of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, compared to 6.1% in December 2019. In 2009, distressed sales comprised 70% of Miami sales.
Total Miami distressed sales increased 5.5%, from 128 to 135.
Short sales and REOs accounted for 1.2% and 4.3%, respectively, of total Miami sales in December 2019. Short sale transactions increased 11.1% year-over-year while REOs decreased 3.9%.
Nationally, distressed sales represented 2% of sales in December, unchanged from both November 2019 and December 2018.
Miami Real Estate Selling Close to List PriceThe median number of days between listing and contract dates for Miami single-family home sales was 50 days, a 9.1% decrease from 55 days last year. The median number of days between the listing date and closing date for single-family homes was 92 days, a 6.1% decrease from 98 days.
The median time to contract for condos 75 days, a 16.7% decrease from 70 days last year. The median number of days between the listing date and closing date for condos was 110 days, a 3.5% decrease from 114 days.
The median percent of original list price received for single-family homes was 95.6%. The median percent of original list price received for existing condominiums was 93.7%.
National and State StatisticsNationally, total existing-home sales transactions increased 3.6% from November to a seasonally-adjusted annual rate of 5.54 million in December. Additionally, overall sales took a significant bounce, up 10.8% from a year ago (5.00 million in December 2019).
Statewide closed sales of existing single-family homes totaled 25,557 last month, up 23.8% from December 2018, according to Florida Realtors. Florida’s condo-townhouse market totaled 9,605, up 17.7% from the level a year ago. Closed sales may occur from 30- to 90-plus days after sales contracts are written.
The national median existing-home price for all housing types in in December was $274,500, up 7.8% from December 2018 ($254,700), as prices rose in every region. November’s price increase marks 94 straight months of year-over-year gains.
Statewide median sales prices for both single-family homes and condo-townhouse properties in December rose year-over-year for 96 months in a row. The statewide median sales price for single-family existing homes was $270,000, up 5.9% from the previous year. Last month’s statewide median price for condo-townhouse units was $200,000, up 8.1% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.
Miami’s Cash Buyers Represent Almost Double the National FigureMiami cash transactions comprised 33.9% of December 2019 total closed sales, compared to 34.8% last year. Miami cash transactions are almost double the national figure (20%).
Miami’s high percentage of cash sales reflects South Florida’s ability to attract a diverse number of international homebuyers, who tend to purchase properties in all cash.
Condominiums comprise a large portion of Miami’s cash purchases as 47.2% of condo closings were made in cash in November compared to 19.9% of single-family home sales.
Seller’s Market for Single-Family Homes, Buyer’s Market for CondosInventory of single-family homes decreased 10% in December from 6,877 active listings last year to 6,190 last month. Condominium inventory decreased 7.6% to 14,662 from 15,871 listings during the same period in 2018.
Months supply of inventory for single-family homes decreased 12.5% to 5.6 months, which indicates a seller’s market. Inventory for existing condominiums decreased 8.8% to 12.5 months, which indicates a buyer’s market. A balanced market between buyers and sellers offers between six- and nine-months supply.
Total active listings at the end of December decreased 8.3% year-over-year, from 22,748 to 20,852. Active listings remain about 60% below 2008 levels when sales bottomed.New listings of Miami single-family homes decreased 3.1% to 1,188 from 1,226. New listings of condominiums decreased 10.4%, from 1,771 to 1,886.
Nationally, total housing inventory at the end of December totaled 1.40 million units, down 14.6% from November and 8.5% from one year ago (1.53 million). Unsold inventory sits at a 3.0-month supply at the current sales pace, down from the 3.7-month figure recorded in both November and December 2018. Unsold inventory totals have dropped for seven consecutive months from year-ago levels, taking a toll on home sales.
To access December 2019 Miami-Dade Statistical Reports, visit http://www.miamirealtors.com/news/south-florida-market-intelligence
Note: Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.
About the MIAMI Association of RealtorsThe MIAMI Association of Realtors was chartered by the National Association of Realtors in 1920 and is celebrating 100 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations, the Residential Association, the Realtors Commercial Alliance, the Broward-MIAMI Association of Realtors, the Jupiter Tequesta Hobe Sound (JTHS-MIAMI) Council, the Young Professionals Network (YPN) Council and the award-winning International Council, it represents 52,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S. and has official partnerships with 222 international organizations worldwide. MIAMI’s official website is http://www.MiamiRealtors.com

U.S. Private Sector Job Quality Index (JQI)® December 2019

“The statistical noise generated by the now-concluded strike by workers at General Motors is filtering through the JQI this month and generated a modes rise associated with their return.”

NEW YORK (PRWEB) January 21, 2020
Following the release of the Employment Situation Report for December 2019 by the U.S. Bureau of Labor Statistics (BLS), the U.S. Private Sector Job Quality Index (JQI)® has been revised to a level of 80.53, up slightly by 0.14% from its level one month ago and reflecting a modestly higher proportion of U.S. production and non-supervisory (P&NS) jobs paying more than the mean weekly income of all P&NS jobs, relative to those jobs paying less than such mean. The mean weekly income of all P&NS jobs as of the current reading (reflecting the level as of October 2019) was $794.70, an increase of 0.01% from its level the month prior. Some of the improvement in JQI can be attributed to the return of striking General Motors workers, reflected in the November 2019 data that rolled into the index reading for this month.
The JQInstant™ preliminary read of the 139,000 increase in all private sector, non-farm payrolls in November 2019 shows that approximately 56.40% of the change in private sector jobs in November was in industry sectors offering P&NS jobs with an average weekly income below the above mean weekly income of all P&NS jobs (i.e. “Low Quality Jobs”). The average of the JQ-Instant readings for the final five months indicated a weighted average of 60.80% Low Quality Job formation for that period, following the reversal of an improved trend earlier in the year.
Daniel Alpert, co-creator of the U.S. Private Sector Job Quality Index, said, “The statistical noise generated by the now-concluded strike by workers at General Motors is filtering through the JQI this month and generated a modes rise associated with their return. The 0.01% increase in the JQI benchmark mean weekly wage from October to November is disappointing and consistent with the weak hourly wage growth seen in the December 2019 Employment Situation Report. Both averages are drawn down by increases in the relative number of low wage/low hour jobs.”
For a new explanatory video on the JQI, please see: http://www.vimeo.com/jqi
This news release presents data from the most recent JQI reading calculated through the month immediately prior to the month covered by this release. The JQI assesses job quality in the United States by measuring desirable higher-wage/higher-hour jobs versus lower-wage/lower-hour jobs. The JQI offers a near-real time analytical tool to policymakers, researchers and financial market participants with relevance to a variety of trends in the economy at large. The JQI analyzes a representative sample of the economy using production and non-supervisory job (P&NS) data from 180 different industry groups spanning across all 20 super-sectors into which the BLS groups establishments. The principal data utilized is contained in the Current Employment Survey (CES, also often referred to as the establishment survey) P&NS data on average weekly hours, average hourly wage and total employment for each given industry group (seasonally adjusted, in all cases). The JQI is updated on a monthly basis contemporaneously with the release of new CES data from the BLS.
The JQ-Instant reading is for the month covered by this release and has implications for the likely direction of the JQI itself in future months. As the JQI is reported as a three-month rolling average of actual monthly readings, significant imbalances (readings varying from an even distribution between high and low quality jobs) in the JQ-Instant results would suggest future JQI readings moving in the direction of the dominant side of such distribution.
The U.S. Private Sector Job Quality Index (patent pending) is a joint development of the Program on the Law and Regulation of Financial Institutions and Markets at the Jack G. Clarke Institute of Cornell Law School, the University of Missouri Kansas City Department of Economics, the Coalition for a Prosperous America, and the Global Institute for Sustainable Prosperity.
For more information, and to read the full report, visit https://www.jobqualityindex.com/.
[© 2019 JQI IP Holdings LLC.] “Private Sector Job Quality Index” and “JQI” are registered trademarks of JQI IP Holdings LLC. The Private Sector Job Quality Index is patent pending, application number US 62/900,923. Cornell logo and Cornell Law School and Jack G. Clarke Program names and references used with permission.

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Interjet Airlines Reports Full-Year and December 2019 Performance

Our overall performance in 2019 is a testament to the success of our 3-year strategic plan first implemented in 2018

MEXICO CITY (PRWEB) January 21, 2020
Interjet Airlines announced record year-over-year results for December and full-year results for 2019. Highlights include:
Total traffic for December 2019 grew a robust 14.7 percent with YoY international traffic increasing 21.1 percent and domestic traffic growth of 11.8%
Overall traffic for the full-year 2019 increased 9.4 percent with international passenger traffic growing to a record 25.9 percent. Domestic passenger traffic increased by 3.2 percent
RPK’s (revenue passenger kilometers) grew 15.1 percent overall with international RPK’s up 28.4 percent
ASK’s (available seat kilometers) increased dramatically as well with an increase of 9.6 percent overall and 19.8 percent for international travel
“Our overall performance in 2019 is a testament to the success of our 3-year strategic plan first implemented in 2018,” said William Shaw, CEO of Interjet Airlines. “We continued to deliver on that plan in 2019, and the results speak for themselves with record growth and revenue. We could not have done it without the commitment of our more than 6,000 airline professionals who work at Interjet. I am extremely proud of what we’ve accomplished together and am excited about Interjet’s future,” he added.
Other 2019 Highlights
Set new records for overall passenger traffic growth driven by a robust increase in international traffic
Introduced seven new international routes and expanded service to four other international destinations
Introduced four new domestic routes
Took delivery of six new Airbus aircraft including two Airbus A320s, and four Airbus A320neos.
Launched mobile and web check-in service from the U.S. to Mexico
Upgraded passenger experience at John F. Kennedy International Airport with a terminal relocation from T7 to T1
Announced new or expanded interline and codeshare agreements with American Airlines, Alitalia, Qatar Airlines and Emirates
Introduced global payment agreement with Worldpay
Celebrated Interjet’s 100th million passenger milestone
Partnered with the Transportation Security Administration’s TSA Pre✓® program to offer passengers traveling from the U.S. to Mexico, expedited screening from all of the airports we fly from
Introduced Club2020, an exclusive travel membership program
For more information regarding Interjet’s results, call me at +52 (55) 9178 5500 x5833. To make a reservation, visit http://www.interjet.com or in the U.S. call (866) 285-9525
About InterjetInterjet is an international airline based in Mexico City carrying 14 million passengers annually within Mexico and between Mexico, the United States, Canada, Central, and South America. In all, it provides air service to 55 destinations in 10 countries offering its passengers greater connections and travel options through agreements with major airlines such as Alitalia, All Nippon Airways (ANA), American Airlines, British Airways, Emirates, Air Canada, LATAM Group, Iberia, Lufthansa, Hainan Airlines, Qatar Airlines, and Japan Airlines.
Interjet was also honored with Skytrax’s World Airline Award as the ‘Best Low-Cost Airline in Mexico and Best Cabin Crew in Mexico as well as being awarded the Travelers’ Choice Trip Advisor Award as the best Mexico airline.
FB: @Interjet; TW: @Interjet; IG: @Interjet
Media ContactJulieta Peña FloresTel. +52 (55) 9178 5500 x5833Email: julieta.pena@interjet.com.mx

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