FLYING Finance Research · Aircraft Market Indices
Proprietary indices built from primary data: FAA registry filings, the aircraft loans we close, and live loan rates indexed to the 5-year Treasury. Free to read, cite and bookmark.
By FLYING Finance Research · Updated November 2, 2026 · Methodology and citation
Piston bills of sale, September 2026
1,692
FAA registry, monthly
Certified piston starting rate
6.64%
Rate Index, live
5-year Treasury
4.78%
Federal Reserve (FRED)
Median spread at close, Q3 2026
2.34 pts
Deal Index, quarterly
FLYING Finance Proprietary Data
By FLYING Finance Research · Sourced from the FAA aircraft registry · Updated monthly
No industry tracker publishes a piston-specific transaction count. So we built our own, sourced directly from the FAA's public aircraft registry (Bill-of-Sale filings), rather than relying on a third party. This index updates monthly as new filings are processed. It measures recorded ownership transfers, an upper-bound proxy for market activity, not a precise purchase count.
Turbine Companion Indices
Same method as the piston index, applied to FAA-registered turboprop and turbojet/turbofan aircraft (turboshaft helicopters excluded). Counts exclude correction filings and acquisitions by FAA-certificated dealers.
Methodology: counts unique piston fixed-wing aircraft with a non-correction FAA Bill-of-Sale (BOS) filing, excluding acquisitions by FAA-certificated aircraft dealers (inventory purchases, not end-buyer transactions). This still captures all other FAA-recorded ownership transfers (open-market sales, but also family transfers, estate settlements, and corporate restructurings), so treat it as an upper-bound activity indicator, not a precise count of arm's-length purchases. The FAA public document index only keeps roughly the last 30-40 days of filings, so each month is counted once, from the first FAA data release after the month ends, and then held fixed. Every month uses the same capture timing, so months are comparable to each other.
Source: FAA Releasable Aircraft Registration Database (registry.faa.gov) · Index compiled and maintained by FLYING Finance · Updated monthly
FLYING Finance Proprietary Data
By FLYING Finance Research · Updated November 2, 2026
What aircraft buyers actually closed on through FLYING Finance, quarter by quarter: the price they paid, how much they borrowed, the rate they locked, and how that rate compares with the 5-year Treasury. Most of these loans are certified piston, light sport and experimental aircraft.
Our borrowers are paying less over Treasuries than at any point in our data. The median rate at close fell from 7.49% to 6.84% while the 5-year Treasury rose, so the spread narrowed from about 3.4 to 2.3 points. Treasuries led the way down: the 5-year peaked near 5% in late 2023, and lender rates in early 2024 still reflected that peak. Aircraft rates have been catching up ever since. Buyers are also putting less down, with median loan-to-value moving from 80% in 2024 to 85% for most of the past year. Leaning on credit can carry a market for a while, not forever, so spread and loan-to-value are the two numbers we watch for a turn.
Source: FLYING Finance closed aircraft loans, January 2024 through September 2026. Medians by quarter of closing, so single-quarter moves can be noisy. Treasury is the quarterly average of the 5-year constant maturity yield (Federal Reserve, FRED DGS5). Individual borrower and lender details are never published.
FLYING Finance Proprietary Data
Starting rates for qualified borrowers in four loan categories, indexed to the 5-year Treasury. Every change is recorded as a dated, numbered reading, so the series can be checked and cited. How the Index works.
Certified piston
6.64%
Turboprop and jet
6.53%
MOSAIC light sport
7.16%
Experimental and kit
7.23%
Starting rates for standard transactions and qualified borrowers. Your rate depends on credit, the aircraft and your down payment. Treasury: 5-year constant maturity yield, Federal Reserve (FRED DGS5).
Closed and funded
A snapshot of every state where FLYING Finance has arranged and closed an aircraft loan. Darker states have more closed loans. The full map breaks each state down by aircraft category and loan size.
Hover over a state to see loans closed.
01 · Piston Transaction Index
Counts unique piston fixed-wing aircraft with a non-correction FAA bill of sale filing, excluding purchases by FAA-certificated dealers. Each month is counted once, from the first FAA data release after it ends, then held fixed. It measures recorded ownership transfers, an upper bound on open-market sales.
Full series →02 · Deal Index
Quarterly medians of aircraft loans arranged and closed through FLYING Finance: rate at close, spread over the quarterly average 5-year Treasury, loan-to-value and the year-over-year change in loan size. Medians, not averages, and never individual borrower or lender details.
03 · Rate Index
Each category's starting rate is the 5-year Treasury (FRED DGS5) plus a fixed spread for that loan category. Every change is logged as a numbered, dated reading in a public archive, so any rate quoted on this site can be traced to its reading.
Methodology →
FLYING Finance Research. "Aircraft Market Indices." FLYING Finance, updated November 2, 2026. https://flyingfinance.com/aircraft-market-indices/Free to cite and republish with attribution to FLYING Finance and a link to this page. For data partnerships or custom cuts, email sales@flyingfinance.com.
Related market data
They are data series FLYING Finance publishes from primary sources: the National Piston Aircraft Transaction Index (monthly FAA bill of sale filings), the Deal Index (quarterly medians of aircraft loans we arrange and close), the Aircraft Loan Rate Index (starting rates indexed to the 5-year Treasury, logged as dated readings) and a snapshot of where we have closed loans.
From the FAA Releasable Aircraft Registration Database. We count unique piston fixed-wing aircraft with a non-correction bill of sale filing in the month and exclude purchases by FAA-certificated dealers. Family transfers, estate settlements and corporate restructurings are still included, so treat it as an upper-bound measure of activity rather than a count of arm's-length sales.
It is built from loans that actually closed, not from quotes or advertised rates. Each quarter reports medians across the loans closed in that quarter. Most are certified piston, light sport and experimental aircraft, and no individual borrower, lender or aircraft details are ever published.
Each loan category's starting rate is the 5-year Treasury yield (FRED DGS5) plus a fixed spread for that category. When the Treasury or a spread changes, a new numbered reading is logged in the public Rate Index archive. Your own rate depends on your credit, the aircraft and your down payment.
The Piston Transaction Index updates monthly, after the first FAA data release that follows each month. The Deal Index updates quarterly, after each quarter closes. The Rate Index updates whenever the 5-year Treasury moves, typically each business day. The loans-by-state snapshot updates monthly.
Yes. The indices are free to cite and republish with attribution to FLYING Finance and a link to this page. Use the citation above, and contact sales@flyingfinance.com about data partnerships.
Get the indices
One email when an index updates: the monthly piston count, the quarterly Deal Index and our turbine market report. Nothing in between.
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