Embraer CEO Mindful of Business Aircraft Usage Rates, Price Floor Elusive as Used Bizcraft Inventory Shrinks + MORE May 9th

In a recent conversation with Marco Pellegrini, the new president and CEO of Embraer ERJ -0.49% Executive Jets, he shared a data point that readers may find very interesting. Embraer business jet operators fly their aircraft, on average, about 600 hours a month, or about 50% more than operators of any other original equipment manufacturer’s (OEM) product.

Embraer Legacy 500

The source of that tidbit isn’t Embraer, but JETNET, the Utica, N.Y.-based firm that specializes in compiling and analyzing market intelligence on the worldwide business, commercial and helicopter aircraft fleet and marketplace. (As a reference point, the fleet is comprised of about 100,000 airframes.)

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Pre-owned business jet and turboprop inventory as a percentage of in-service aircraft continued to fall in March, though pricing has yet to find a floor, according to data released yesterday by aviation services firm JetNet. Inventory of used business jets fell 1 percent year-over-year, to 12.1 percent, the third lowest since 2005, JetNet said. Pre-owned turboprop inventory barely managed a decrease, falling just 0.1 percent to 7.7 percent from March 2013.

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Mubadala Aerospace, an entity owned by the government of Abu Dhabi, has taken full control of Italy’s Piaggio Aero, maker of the Avanti II turboprop. Mubadala has been a shareholder in Piaggio Aero since 2006.

Piaggio Avanti II

The move follows a broad-based restructuring of Piaggio Aero last year during which sales of the Avanti II flatlined. As part of the restructuring, India’s Tata Industries will relinquish its partnership stake in Piaggio, giving Mubadala control of 98 percent of the company’s stock. Piero Ferrari, who had been a major shareholder and had served as chairman of Piaggio, will retain 1.9-percent ownership.

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