CORPORATION /AVJE s DECEMBER 2014 BBJ MARKET SUMMARY GENERAL MARKET OVERVIEW: There are currently fifteen (15)Boeing Business Jets for sale ranging in price from $25.9MUSD for a 1998 aircraft with 3700 hours to S72.OMUSD for a 2010 model with 762 hours of total time. The BBJ market shows a large price discrepancy between pre-2005 models able to be purchased well below S37.0MUSD and 2005 and newer models starting at S55.0MUSD and reaching close to S72.0MUSD for newly completed low time models. Average days on the market (DOM) has now risen to nearly 418 days as many sellers remain unrealistic with their pricing expec- tations. Current Activity is confined to early model aircraft but even low prices in this segment have failed to lure buyers into the market place. INVENTORY STATUS: Inventory had remained in a fairly tight range for most of 2014, averaging between twelve (12) and seventeen (17) units. Recent reductions in inventory levels due to an unu- sually high number of sales in the early model market have been quickly replenished with new aircraft being placed on the market many of which belong to one Chinese operator going through a fleet restructuring. Most changes in inventory have been confined to early models. At the other end of the market, late models languished due to unrealistic pricing. The lone late model sale in the past two years was a recently delivered BBJ2 at SI 05.0M. PRICING STATUS: Pricing in the BBJ market hos been weak for most of the past few quarters espe- cially in the early model segment where buyers believe values lie near the S22.0MUSD to S25.0M price mark—while sellers believe values lie further north of those numbers—closer to 530.OMUSD to S33.0MUSD. In the late model market sellers have completely priced themselves out of the mar- ket with many sellers of low time late models requiring prices near or above S60.0MUSD to part with their aircraft. Buyers have completely vacated this end of the market in the past two q