Colibri Aircraft, an aircraft marketing and brokerage firm, released an analysis of the historic low levels of pre-owned private jet supply.Pre-owned private jet inventory decreased 38% since June 2020. This decline of supply on the market has had a residual and meaningful impact on the marketplace this year.Only around 4.65% of the pre-owned jet fleet is for sale -- the lowest level since records began in the 1980s. In total, around 1,134 private jets are for sale globally, compared to approximately 1,839 in June 2020.This low inventory, plus a drop in the number of new private jets being delivered -- down 20% last year from 2019 (the lowest number since 2004), means that despite a difficult market for commercial aviation and travel in general, the private jet sector has been experiencing high levels of demand."Buying private jets is extremely difficult right now, particularly for European compliment aircraft. Multiple buyers and a shrinking inventory of available aircraft have made a very competitive market. We recently tried to purchase a late model Challenger 650 for a client, and at least six offers were made for this aircraft, which ended up trading close to its headline asking price. To say that the market is competitive at the moment is an understatement," said Oliver Stone, Managing Director at Colibri Aircraft.He added, "This decline has been led by the USA, which re-opened far quicker than other parts of the world. Key factors driving the dramatic drop in the supply of private jets for sale was a strong desire to travel in an environment with far lower risk of COVID transmission." A recent report by Globeair showed as many as 680 fewer person-to-person interactions when flying by private jet compared to commercial. With reduced airline services making this option less convenient, more owners of private jets wanted to maintain hold on their aircraft while a large number of first-time buyers entered the market."In addition to this, surging asset prices in stock markets and real estate, historically cheap debt due to government stimulus, and depreciation benefits that applied to private jet purchases removed many of the financial pressures some owners might have been under to sell their aircraft in more normal circumstances and also encouraged new buyers to act," noted Stone.Stone continued to say that with the rapid decline of inventory, current owners are more likely to hold onto current aircraft as they struggle to find a suitable replacement in such a supply-constrained environment, further decreasing the aircraft that are coming available for sale.