Aviation International News (AIN) reported that used business jet prices saw their strongest month-over-month gain in more than a year in March 2014, according to J.P. Morgan’s North America Equity Research.

Statistics released in J.P. Morgan’s April Business Jet Monthly report show the used business jet market showed a 1.9% rise, only the second sequential increase since the start of last year and a trend the company views as an indicator that stronger new jet demand is approaching, AIN reported.

Pre-owned inventory of in-production aircraft for sale remained flat since January at 8.9%, AIN reported. The J.P. Morgan analyst noted that declines in available light and heavy jets were offset by an increase in medium-cabin aircraft inventory.

While average asking price rose by 1.9% month-over-month, pricing was still down nearly 10% year-over-year. Large-cabin aircraft, particularly Gulfstreams, drove the price climb, while light jets posted their fifth price gain in the past six months, according to AIN.

In the report, J.P. Morgan also noted that February’s flight operations grew by 3.5% over the previous year. The three-month moving average growth has now reached 5.8%, its best since spring 2011, AIN said.

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