4 FC 2020 Jan2020.qxp_FC December 06 19/12/2019 12:03 Page 1
Volume 24 Issue 1 2020
â„¢
ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION
THIS MONTH Business Jet Cabin Completions Focus
2009 Gulfstream G550 Serial Number 5204 proudly presents
See pages 22 - 23 for further details
Heli Comparison: Airbus H130 vs Bell 206L-4 What Does it Cost to Operate a Large Cabin Jet? www.AVBUYER.com
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Editor Welcome DEC19.qxp_JMesingerNov06 18/12/2019 10:48 Page 1
Guest Editor’s VIEWPOINT Mike Hirschberg
Thoughts on the Future of Vertical Flight ertical flight represents a small but increasingly significant segment of the world’s air travel and transport industry. When the first US production helicopters entered service during World War II, many in the aviation industry didn’t see their value because they sorely lacked the range, speed and payload of contemporary fixed-wing aircraft. But their vertical takeoff and landing (VTOL) capability — including hovering — have made helicopters invaluable for corporate and VIP transport, law enforcement, military, medevac, firefighting, search and rescue, and countless other applications. Today, some 40,000 civil and 30,000 military rotorcraft are in service worldwide. The Vertical Flight Society (VFS) was founded as the American Helicopter Society in 1943 by the pioneers of the helicopter industry who saw the need for industry, government and academia to work together to advance vertical flight. Those pioneers recognized that helicopter manufacturers, operators, suppliers and others needed to collaborate to overcome the many technical and operational challenges. Today, the vertical flight industry is once again at a unique inflection point where new military requirements and emerging commercial travel opportunities are driving technological innovation, and the VFS has played a major role is supporting these advancements.
V
Next Gen Rotorcraft
The US military is developing advanced technology rotorcraft with much higher speeds and longer range under the Pentagon’s comprehensive Future Vertical Lift (FVL) program — its ambitious plan to recapitalize its entire rotorcraft fleet over the coming 30-40 years. Four parallel next-generation rotorcraft development efforts are already underway, including high-speed singlemain-rotor helicopters, compound helicopters and tiltrotors. Some US$1.5bn has already been invested in cutting-edge FVL demonstrators, with many billions more planned over the next decade to realize next generation rotorcraft with 185–300kt top speeds and thousands of miles of unrefueled range capability. These different classes of rotorcraft will begin to enter service as early as 2028 and will have a tremendous impact on civil helicopter designs. In Europe, the Clean Sky 2 Joint Undertaking is similarly developing next-generation tiltrotor and advanced compound helicopters for high-speed civil transportation, with two advanced demonstrators expected to fly in the next three years. This builds on past developments,
4 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
including the Leonardo AW609 civil tiltrotor, which should begin deliveries in 2020.
The eVTOL Revolution
At the same time, a convergence of technology advancements from adjacent industries (e.g. electric motors, batteries, flight controls, autonomy, composites, etc.) is driving the development of new electric VTOL (eVTOL) aircraft that don’t resemble today’s helicopters. Just as it has over the past three-quarters of a century, the Vertical Flight Society continues its work to advance all forms of vertical flight. When the VFS hosted the world’s first eVTOL symposium in 2014, the 100 engineers and scientists from industry, government and academia were both visionaries and realists. They recognized that electric and hybridelectric propulsion had the potential to dramatically lower the cost and noise of vertical flight, but enormous technological, investment and regulatory challenges would have to be overcome. That’s when the VFS started tracking the development of every single known eVTOL aircraft program. At the end of 2019, more than 235 eVTOL aircraft — ranging from the serious to the silly — are catalogued in the Society’s free online World eVTOL Aircraft Directory. VFS and many of its 6,000 individual and 120 corporate members are at the forefront of bringing this eVTOL Revolution to life, but like the birth of the helicopter 75 years ago it takes time for the technology, the market, and the entire eVTOL ecosystem to mature. The race to be ‘first to market’ has started, but if history provides a template only a handful of the designs in development today will have the technical and financial strength to achieve certification and commercial success. Nevertheless, more than $2bn has been invested to date, with investors betting that low noise eVTOL aircraft with low operating costs will stimulate the burgeoning urban air mobility (UAM) industry on a scale that the helicopter industry has been dreaming of for 75 years. With many smaller eVTOL aircraft already flying, UAM operations will develop over the next 5-10 years. Success will come to developers that master the technologies required for compelling, lucrative aircraft that put safety first. More information from http://vtol.org/
Mike Hirschberg is an aerospace engineer with nearly 30 years of experience in aerospace system developments. He has served as the Executive Director of the Vertical Flight Society in 2011 after joining as a member in 1996.
www.AVBUYER.com
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AIRCRAFT SALES & ACQUISITIONS
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AIRCRAFT SALES & ACQUISITIONS
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Contents Layout Jan20.qxp 18/12/2019 15:32 Page 1
4
Guest Editor - Mike Hirschberg, Vertical Flight society
2020
16
Market Intelligence Trends and observations from the leading analysts…
38
Market Insights How Many Used Jets Are Financed Today?
Editorial Contributor (USA Office) Dave Higdon dave@avbuyer.com
46
Dealer Broker Market Update
Consulting Editor Sean O’Farrell +44 (0)20 8255 4000 sean@avbuyer.com
Contents
Vol.24 Issue 1
50
Buying & Selling Aircraft
How to Take Your Ego out of Aircraft Values
54
Buying a Jet? Understanding the Advert Abbreviations (Part 2)
60
Five Things to Avoid When Buying a Jet
64 68 72 76 84 90 94
Ownership
What Does it Cost to Operate a Large Cabin Jet? What Caused Your Aircraft Insurance Rate Hike?
Connectivity
On Trend Cabin Wi-Fi Updates for 2020
Helicopter Comparision
Airbus H130 vs Bell 206L-4
Aircraft Price Guide
Large Cabin Jets Values
Aircraft Specifications
Large Cabin Jets Performance & Specifications Guide
Cabin Completions
Completing a State BBJ
EDITORIAL Commissioning Editor Matthew Harris +44 (0)20 8939 7722 editorial@avbuyer.com
ADVERTISING Lee McLoughlin - Account Director US Aircraft & Services Sales Freephone from USA: +1- 855 425 7638 lee@avbuyer.com Matt Chappell - Account Manager US & Canada Aircraft & Services Sales Freephone from USA: +1- 855 425 7638 MattC@avbuyer.com Lise Margin - Account Manager US Aircraft Sales +1- 703 818 1024 lise@avbuyer.com Maria Brabec - Account Manager EMEA & APAC Aircraft & Services Sales +420 604 224 828 maria@avbuyer.com UK Head Office +44 (0)208 549 9508 STUDIO/PRODUCTION Helen Cavalli / Mark Williams +44 (0)20 8939 7726 helen@avbuyer.com mark@avbuyer.com CIRCULATION Sue Brennan +44 (0)20 8255 4000 Freephone from USA: +1- 855 425 7638 sue@avbuyer.com
102
What Should Guide Your Aircraft Completion Choices?
108
How Aesthetics & Engineering Blend in Aircraft Completions
114
How to Choose the Right Completion Center
118
OEM News, Industry Appointments & Upcoming Events
Community News
MANAGING DIRECTOR John Brennan +44 (0)20 8255 4229 john@avbuyer.com
124
Products & Services
USA OFFICE 1210 West 11th Street, Wichita, KS 67203-3517
128 134 137 138
Showcases Marketplace Advertisers Index Aircraft for Sale Index
Next Month
• Aircraft Maintenance Focus Issue • Jets Comparison: Embraer Praetor 600 • How to Choose the Right Lender for You
10 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
AVBUYER.COM Jayne Jackson jayne@avbuyer.com Emma Davey emma@avbuyer.com
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Avpro January.qxp_Layout 1 18/12/2019 14:14 Page 1
GLOBAL XRS
S N 9391
G U L F S T R E A M G 550
S N 5371
G U L F S T R E A M G 650
S N 6117
G U L F S T R E A M G 550
S N 5145
GULFSTREAM G350 SN 4086
GULFSTREAM V SN 530
GULFSTREAM G200 SN 66
E M B R A E R L E G A C Y 500
C H A L L E N G E R 350
C H A L L E N G E R 300
S N 20522
S N 53
S N 20249
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Avpro January.qxp_Layout 1 18/12/2019 14:14 Page 2
C H A L L E N G E R 300
S N 20106
C H A L L E N G E R 300
S N 20102
C H A L L E N G E R 300
S N 20029
C H A L L E N G E R 604
S N 5504
FALCON 8X
S N 406
F A L C O N 900 E X
S N 181
F A L C O N 900 E X Y
SN 121
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F A L C O N 2000
S N 98
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F A L C O N 50 E X
S N 135
SN 309
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Avpro January.qxp_Layout 1 18/12/2019 14:14 Page 3
F A L C O N 50
F A L C O N 50
SN 187
SN 179
H A W K E R 900 X P
SN HA-65
H A W K E R 800 X P i
H A W K E R 800 X P
SN 258578
L E A R J E T 60
SN 258699
SN 178
LEARJET 45XR SN 404
LEARJET 45 SN 104
CITATION X SN 161
CITATION XLS SN 5632
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Avpro November.qxp_Layout 1 21/10/2019 12:29 Page 4
MarketIndicators JAN20.qxp_Layout 1 18/12/2019 11:41 Page 1
MARKET INDICATORS
Business Aviation Market Overview As the New Year begins for many Business Aviation professionals, Rollie Vincent takes stock of some key market indicators that provide situational awareness and indications of the path ahead... irst, the ‘facts’ as far as we can see them: Business jet flight activity is flat to down, inventory ‘for sale’ is up, and pre-owned sales are down. Prices have generally softened, the jet fleet is growing modestly, and the OEMs collectively had a year of solid sales, certification, and delivery performance in 2019.
was down sharply through the middle of 2019 Year-over-Year (YoY), dragged down by slower economic expansion, trade tensions and tariffs with the US, weaker currencies relative to the US dollar, significantly fewer new business jet deliveries, and a shrinking fleet in China.
Business Jet Flight Activity
Worldwide, business jet inventory for sale trended upwards throughout 2019, with 2,230 jets representing 10% of the inservice fleet registered ‘for sale’ on the JETNET database at the beginning of December 2019. This compares with 2,058 jets and 9.4% of the fleet for sale in December 2018. While this change may seem inconsequential in the grand scheme of things, the details – as in most things – are both interesting and more revealing. Young inventory increased (as evidenced by the fact that jets on the market that were delivered new in the past five years were up by more than 45% in H2 2019 versus June 2019). This occurred against a backdrop of generally lower preowned retail jet sales, which were 16% fewer after the first ten months of 2019 compared with the same period in 2018.
F
Business jet flight activity throughout most of 2019 was muted in key markets reflecting slower economic activity, lower international trade and business travel, reduced business confidence, and a plethora of other factors that have collectively muddied the waters and darkened the skies for Business Aviation. In the US, business jet flight cycles (one takeoff and landing) were up just 0.3% on a year-to-date (YTD) basis through the end of September, despite underlying fleet growth. In Europe, flight cycles were down 1.8% YTD through the end of November, as several key national economies teeter on the brink of recession. Although consolidated regional data are very limited and therefore subject to variation, Asia Pacific business jet activity 16 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
Business Jet Inventory
www.AVBUYER.com
MarketIndicators JAN20.qxp_Layout 1 18/12/2019 10:24 Page 2
AVBUYER.com With 35+ years in the aviation industry, Rolland Vincent, president, Rolland Vincent Associates (RVA) has served as a trusted consultant at Textron, Bombardier and ICAO in various roles in strategy, marketing, business development, aviation economics and aviation statistics. Identifying a need for enhanced insights into the state of the business aviation marketplace, Rolland Vincent Associates partnered with JETNET in 2010 to create JETNET iQ. Mr Vincent is chair of the Transportation Research Board’s Standing Committee on Light Commercial and General Aviation, and is president, RVA, a consultancy focused on aviation market research, strategy, and forecasting. Contact him via rvincent@rollandvincent.com
Business Jet Price Trends
The all-important – and invariably difficult to isolate – metric of aircraft pricing appears to be sequentially lower, at least in the pre-owned markets. Much like asking a group of ten economists to provide a forecast on the state of the economy, we believe that asking ten broker/dealers what’s happening with prices would generate at least 15 different opinions. And all would have at least some element of truth to them… The analytical work of the good people at Asset Insight, which includes an on-going assessment of asking prices relative to existing maintenance condition and cost exposure, is particularly illuminating on this topic (see p28 of this magazine). A buyers’ market [as if it ever went away] is in force, at least in our assessment of the state of the business.
Business Jet Fleet Growth
JETNET records through the end of November suggest that the worldwide business jet fleet grew by approximately 350 aircraft in 2019 (about 1.6% YTD). While this is a relatively modest growth rate, it’s slightly lower but basically in line with our outlook for the industry, at least for the next 10 years. We expect fleet growth to slow – perhaps measurably so – in 2020 as the fleet is screened and cleaned of models that are not compliant with ADS-B Out mandates and/or those older jets that are long overdue retirement.
New Business Jet Shipments
New business jet shipments, reported through the General www.AVBUYER.com
Aviation Manufacturers Association (GAMA), were up an impressive 15% YTD through Q3 2019 versus Q3 2018. That’s a solid performance that puts the industry on track for its highest output levels on a ‘units’ and ‘dollar value’ basis in the post-2008/2009 crisis period. Oder backlogs at the ‘Big Five’ OEMs (Bombardier, Dassault, Embraer, Gulfstream and Textron) were up about 5% in value through the end of Q3 2019 and will surely be up even more when Q4 results (including strong NBAA-BACE sales announcements from Embraer and Gulfstream) are registered. That would be the first general increase after a seemingly unending ten-year post-crisis doldrum. Book-to-bills appear to have finished 2019 above 1-to-1 across all major OEMs (a welcome development that was juiced by orders for all-new and substantially new models). Production ramp up is underway at several of the OEMs to convert these valuable backlogs into much-needed additional cash flow that’s attractive to investors and provides the means to pay back large investments in engineering, facilities and production tooling. As a group, most OEMs are certainly in a better financial and business position now than they have been for some time. Amidst the good news about new aircraft certifications, entry-into-service milestones, and sales of new or recently upgraded models, however, reductions in workforce have been quietly underway at several OEMs, with most of the cuts reportedly focused on “non-essential” and non-production personnel. Workforce adjustments, a common theme in the historically topsy-turvy aircraft manufacturing business, reflect an ongoing desire on the part of leadership to stay lean while managing transitions from high-investment aircraft development to higher-return production.
To Summarize…
What does all this mean? For potential buyers of new and pre-owned aircraft, the times remain good, with additional and attractive young inventory for sale and willing sellers eager to do a deal, whether they’re OEMs or owners of preowned aircraft. We’re monitoring multiple metrics indicating that buyer interest is especially focused on the super Light through Super Mid-size Jet segments; categories of aircraft that offer performance, cabin, and technology levels to meet the vast majority of customer needs and mission profiles, as well as significant value for the dollar. Here’s hoping that 2020 will be a good year ahead! MI www.navigating360.com
page 20
AVBUYER MAGAZINE Vol 24 Issue 1 2020
17
CHARTER - MANAGEMENT - SALES & ACQUISITIONS - LEASING - DEFENCE - DESIGN
GLOBAL CONNECTION TO THE WORLD OF AVIATION
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MarketIndicators JAN20.qxp_Layout 1 18/12/2019 11:42 Page 3
MARKET INDICATORS
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Flight Activity - North America ARGUS TRAQPak’s review of North American flight activity in November 2019 revealed a year-over-year (YoY) decrease of 2.5% (November 2019 vs November 2018). November also recorded a 9.4% decrease in activity compared to October 2019… Year-over-Year, the results by operational category continued their mostly negative theme, with Fractional flight activity being the exception. Part 91 flight activity saw the largest decline, compared to November 2018. The aircraft categories were all down in November 2019, with Large Cabin Jets posting the largest yearly decrease. Light Jets had the smallest decrease in activity for the month.
NOVEMBER 2019 vs NOVEMBER 2018 North America Flight Activity
PART 91
ALL
-3.5%
-1.3%
-5.5%
-2.7%
LIGHT JET
1.3%
-4.8%
-1.0%
-1.1%
MID-SIZE JET
-6.8%
-5.1%
8.3%
-2.4%
LARGE CABIN JET
-5.6%
-0.1%
-18.3%
-4.8%
ALL
-3.4%
-2.9%
2.1%
-2.5%
NOVEMBER 2019 vs OCTOBER 2019 North America Flight Activity
The Month-over-Month (MoM) decrease was not unexpected by TRAQPak analysts. Unsurprisingly, results by operational category were all negative in November, with Part 91 flight activity posting the largest monthly decline. The aircraft categories were also all in the red for the month, with Light Jets posting the largest decrease. TRAQPak analysts estimate a 1.4% increase in overall flight activity YoY in December 2019. MI www.argus.aero
FRACTIONAL
TURBOPROP
Month-over-Month
December Forecast
PART 135
PART 91
PART 135
FRACTIONAL
ALL
TURBOPROP
-11.1%
-8.1%
-9.1%
-9.8%
LIGHT JET
-11.3%
-8.9%
-10.8%
-10.5%
MID-SIZE JET
-12.6%
-8.5%
-5.2%
-9.3%
LARGE CABIN JET
-11.8%
-0.2%
1.7%
-6.8%
ALL
-11.6%
-7.2%
-6.3%
-9.4%
Flight Activity – Europe
Flight Activity – Asia Pacific
November 2019 saw an acceleration in the trending decline in flight activity in Europe. There were 3.2% fewer Business Aviation departures compared to November 2018, according to WingX Advance. Year-to-date 2019, flight activity in Europe is down 1.8%. There were significant falls in activity in UK and Germany where flight departures declined more than 6% YoY and are down 5% YTD. There was some increase in activity from Russia, Italy, Turkey and Spain during November, however. In France, Germany and the UK, the Small and Mid-size Jet sectors were most affected. Meanwhile, Large Jet activity was down by 3% overall, although it was up 6% in Spain and 3% in Switzerland. Germany, Sweden and Turkey saw a 5% decrease in Charter activity, while the UK registered an almost 10% drop, YoY in AOC operations. Flights within Europe fell 3% YoY. By comparison, flights from Europe to North America were down 5% (although they are still up 1.9% this year compared to last year). “Long-term trends in all business jet segments are heading south following the relatively brief rally in 2017/2018,” notes Richard Koe, Managing Director, WingX. “It’s clear this year that the downward impetus is coming from owner flights – there were 8% fewer YoY in November 2019. Particularly on the older platform aircraft, in the lighter and entry level category, owners are flying much less. “The sensitivity of business jets to the climate agenda may well exaggerate this trend next year,” he projected. MI www.wingx-advance.com
During Q2 2019 Asia Pacific experienced a total of 14,422 business jet flights — an increase of 4.9% compared with Q2 2018. However, total flight activities declined by 6% compared to Q1 2019. Q2 saw significant growth in the short-range flight category, while flights in the medium and long-range categories declined. Domestic flights represented a larger portion of the market in Q2, accounting for 58% of all business jet activity. Compared with last year, 2019 Q2 saw significant growth in India and Japan, while Australia and Greater China declines in activity. Flights departing from Australia dropped by 11.4%, attributed to the decreased flight activity from Mid-sized and Ultra-Long-Range Jets. Flights departing from Mainland China dropped 19.5%, greatly attributed to the US-China trade conflict. China-based departures to Southeast Asia and East Asia were up, but domestic flights decreased 31%. Flights departing Hong Kong to neighbouring countries increased, but flights from Hong Kong to Europe and North America fell. page 24 MI www.asianskymedia.com
20 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
Understanding the Business Aviation Market
- with AvBuyer www.AVBUYER.com
The Private Jet Company January.qxp_Layout 1 17/12/2019 15:15 Page 1
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Avjet FP January.qxp_Layout 1 19/12/2019 10:48 Page 1
Avjet multi January.qxp_Layout 1 19/12/2019 10:48 Page 1
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2007 Gulfstream G150 SN 240
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2000 Boeing 757 SN 29306
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MarketIndicators JAN20.qxp_Layout 1 18/12/2019 10:25 Page 4
MARKET INDICATORS
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Helicopter Market Size to Reach $68.36bn by 2026 According to Fortune Business Insights, the global helicopter market size is projected to reach US$68.36bn by 2026, exhibiting a CAGR of 4.47% during the forecast period. However, the market was valued at $48.19bn in 2018. In its report, Fortune Business Insights notes increasing usage of lightweight helicopters for commercial applications is set to boost the Helicopter Market growth during the forecast period. The full report provides: • • •
Elaborate information about the major Helicopter Market trends, drivers, hindrances and other related challenges. A thorough analysis of several vendors present in the market. Competitive landscape consisting of new product launches, mergers, acquisitions, contracts, and joint ventures.
MI www.fortunebusinessinsights.com/industry-reports/helicopter-market-101685
Year-End BizJet Activity a Hedge Against 2020 Uncertainties? According to Mente Group president and CEO, Brian Proctor, with more aircraft on the market recently, buyers and sellers were seeking to make deals before year-end 2019 to hedge against economic, political and tax uncertainties that 2020 could bring… "We have seen some slight price declines recently that have offset higher prices on a slower volume earlier in the year,” Proctor noted during December, anticipating a busy end to the month. He added that the pre-owned business jet market was balanced with an equal number of buyers and sellers seeking to make deals. "There are a lot of bizjet owners and buyers who are trying to take advantage of the minimum tax environment we are in right now," he explained. Depending on political events in an election year, the currently favorable tax climate could change in 2020, so both buyers and sellers have been trying to lock-in certainty in the past few months, and Q4 has been notably active, Proctor revealed. Several international economies are teetering on recession. Coupled with an upcoming election and ongoing impeachment hearings, these have contributed to profit taking in the stock
24 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
markets. Looking ahead, Proctor noted that the future business jet marketplace could shift to the advantage of buyers. "With all of this going on…the preowned aircraft market is trying to get
ahead of potential changes. As a result, aircraft brokers and lenders have been busy lately.” MI www.mentegroup.com
page 28
www.AVBUYER.com
Sky Aviation Holdings January.qxp_Empyrean 16/12/2019 14:19 Page 1
2001 LEAR 60 -230
Airframe TT: 4629.8 Landings: 3655 • ADS-B/WAAS/LPV • ESP Gold Engines • L3 Avance Wi-Fi • 3 Rotor Brake Mod • Beautiful Refinished Interior • Turn-Key Aircraft! Engines ON ESP GOLD 1 2 TSN: 7313.9 7313.9 CSN: 4388 4388 TSOH: 128 128 Avionics CollinsProLine4Flight Control System ADF: Collins ADF-462 Autopilot: Dual Collins FCC-850A Comm’s: Dual Collins VHF-422C w/8.33 Spacing CVR: Universal 30B DME: Dual Collins DME-442 Flight Phone: MagnaStarC-2000 Digital w/Dual Handsets ADS-B WAAS/LPV Additional Equipment • Airshow 400 Cabin Entertainment • 10.4” Cabin Monitor • Collins DAU-650 Data Acquisition Units • J.E.T. 3-inch Standby Altitude Gyro & Power Supply • Exterior Locking Package • Electronically Heated Baggage Interior Delivered withRefreshed Interior 2019 • Executive 8 Passenger FireblockedFloorplan 2 M60-2 • Delivered with Refreshed Cream Leather Seating, New Lower Side Panels, New Carpeting, New Headliner, New Plating, & LED Lighting • High-Gloss BubingaWood Veneer Package • Airshow 400 –Forward RS Sharp 10.4” LCD Monitor & L3 Core Wi-Fi Exterior Delivered with Refreshed Paint 2019 • Matterhorn White with Updated Silver & Black Accent Stripes
Sky Aviation Holdings LLC
Pompano Beach Airport, 751 NE 10th Street, Pompano Beach Florida, 33060, United States www.AVBUYER.com
Tel: +1 (754) 800-6310 E-mail: sales@skyaviationholdings.com www.skyaviationholdings.com
AVBUYER MAGAZINE Vol 24 Issue 1 2020
25
O'GaraJets January.qxp_Layout 1 17/12/2019 09:52 Page 1
O'GaraJets January.qxp_Layout 1 17/12/2019 09:52 Page 2
MarketIndicators JAN20.qxp_Layout 1 18/12/2019 10:26 Page 5
MARKET INDICATORS
AVBUYER.com
Table A
In-Service Aircraft Values & Maintenance Condition
Fleet Maintenance Condition
5.35
$ Million $1.36
5.25
D
The number of inventory aircraft comprising Asset Insight’s tracked fleet of 96 fixed-wing models increased 0.4% to 1,776 units as November’s market analysis closed. How was the exposure to price (ETP) ratio impacted? Find out here… November’s inventory figure represents a year-to-date (YTD) inventory increase of 11.6%. Medium Jet and Turboprop availability increased 1.5% and 5.4%, respectively during November, while Large and Small Jet inventory decreased 1.8% and 1.6%. Since December 2018, the average Ask Price for aircraft in Asset Insight’s tracked fleet has decreased 2.4%, but that is a bit misleading. The figure is buoyed by a 14.4% increase posted by Medium Jets. All other groups have experienced value decreases in that time, including Large Jets (8.0%), Small Jets (2.9%) and Turboprops (4.1%). It is a bit unusual to see the ‘Quality Rating’ and ‘Maintenance Exposure’ drop during the same month, but that is exactly what occurred in November, as the current inventory fleet mix is anticipated to have more near-term maintenance events, although they will be less expensive. Overall, the tracked inventory registered the following figures:
•
J
F
M
A
M
J
J
Maintenance Exposure
LOW RISK AIRCRAFT MODEL ETP RATIO Citation Latitude CL-650 G650 F2000LX Boeing BBJ F900EX EASy Citation CJ4 525C CL-605 Citation Encore + F2000EX EASy Phenom 300 F900DX G 450 Pilatus PC-12 G550 Citation Sovereign 680 Global 5000 Citation CJ3 Hawker 900XP G150 KingAir 350 - Post-2000 Challenger 300 Piper Meridian Citation XLS F900EX Citation CJ2+ 525A Citation Mustang 510 Citation Encore Global XRS KingAir B200 - Post-2000 F900B Phenom 100 Citation CJ2 Citation CJ1+ GV Citation Bravo Hawker 850XP Citation XLS (MSG3) KingAir 350 - Pre-2001
Maintenance Exposure to Ask Price (ETP) Ratio
28 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
$1.40
A
S
O
$1.30
N
Quality Rating Trendline
Table B
The fleet for sale’s Quality Rating declined (worsened) 0.4% during November, decreasing from October’s 5.218 to 5.198. Nevertheless, Quality Rating remained within the ‘Very Good’ range on Asset Insight’s scale of -2.5 to 10. At $1.36m, Maintenance Exposure (an aircraft’s accumulated/embedded maintenance expense) equalled September’s 12-month low (best) figure.
The ETP Ratio is a useful indicator of an aircraft’s marketability. It’s computed by dividing the asset's Maintenance Exposure (the financial liability accrued with respect to future scheduled maintenance events) by its Ask Price. ‘Days on Market’ analysis has shown that when the ETP Ratio is greater than 40%, a listed aircraft’s time on the market increases, usually by more than 30%. During Q3 2019, assets whose ETP Ratio was 40% or more were listed for sale 76.2% longer (on average) than aircraft whose Ratio was below 40% (218 versus 385 Days on Market). Our November analytics also revealed that nearly 52% of our tracked models, and 58% of our tracked fleet, posted an ETP Ratio greater than 40%.
$1.45
$1.35 5.198
5.15 Quality Rating
•
$1.50
3.6% 3.9% 4.7% 10.8% 11.2% 12.4% 12.7% 14.9% 15.0% 15.6% 15.8% 17.2% 17.8% 18.5% 21.1% 21.3% 21.5% 21.6% 23.2% 23.5% 24.5% 24.6% 24.7% 24.8% 26.3% 26.8% 28.1% 29.0% 29.1% 29.7% 32.8% 35.1% 37.6% 37.7% 38.3% 38.5% 38.7% 38.7% 39.3%
HIGH RISK AIRCRAFT MODEL ETP RATIO Learjet 45XR Embraer Legacy 600 F900 Citation Excel 560XL F50EX Learjet 60XR KingAir B200 - Pre-2001 G200 Hawker 400XP Premier 1A Piaggio P180 II CL-604 Learjet 45 w/APU F2000 Hawker Beechjet 400A KingAir 300 Citation V Ultra Premier 1 Global Express GIV-SP Hawker 800XP Learjet 45 Citation V 560 Learjet 55C Citation ISP Piaggio P-180 Learjet 60 Citation II F50 Hawker Beechjet 400 CL601-3R Hawker 1000A KingAir C90 G100 Citation VI GIV Hawker 800A Learjet 35A Learjet 55 CL-601-3A F20-5 CL601-1A
41.0% 43.2% 43.6% 44.1% 44.2% 44.9% 48.6% 48.6% 49.6% 51.0% 51.1% 53.0% 61.3% 61.7% 62.7% 63.7% 66.3% 66.7% 70.7% 72.2% 72.4% 72.8% 76.6% 93.4% 98.3% 102.6% 109.2% 109.5% 111.0% 111.3% 112.3% 119.3% 127.4% 131.5% 135.9% 136.0% 160.0% 172.9% 189.3% 207.0% 229.5% 277.7%
Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of November 30 2019 page 32
Source: JETNET (www.jetnet.com) Asset Insight, LLC (www.assetinsight.com)
www.AVBUYER.com
Freestream January.qxp 17/12/2019 15:16 Page 1
2009 Boeing BBJ3
2006 Gulfstream G550
Airframe Total Time: 2,925 hrs Aircraft Total Cycles: 886 cycles
Airframe Total Time: 7419.5 hrs Aircraft Total Cycles: 2700 cycles
2009 Falcon 7X
2006 Gulfstream G550 S/N:5112
2018 Gulfstream G650ER S/N:6286
2011 Gulfstream G550 S/N: 5319
S/N: 046 Airframe Total Time: 5,831.5 hrs Aircraft Total Cycles: 1,492 cycles
Airframe Total Time: 245.9 hrs Aircraft Total Cycles: 77 cycles
FREESTREAM AIRCRAFT LIMITED
London +44 207 584 3800 sales@freestream.com
Airframe Total Time: 3,860 hrs Aircraft Total Cycles: 1588 cycles
Airframe Total Time: 1775.0 hrs Aircraft Total Cycles: 850 cycles
FREESTREAM AIRCRAFT (BERMUDA) LIMITED
Hamilton, Bermuda +441 505 1062 sales@freestreambermuda.bm
FREESTREAM AIRCRAFT (H.K.) LIMITED
Hong Kong +852 2724 5620 info@freestreamhongkong.com
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2005 DASSAULT FALCON 900EX EASy
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2006 DASSAULT FALCON 900DX
SERIAL NUMBER 605 – REGISTRATION N89FC ALWAYS HANGARED, NEW INTERIOR AND PAINT IN 2018 AT DUNCAN LINCOLN, 2C INSPECTION COMPLETED IN 2018, SWIFT BROADBAND, WINGLETS INSTALLED, ENGINES & APU ON HONEYWELL MSP GOLD
2010 BOMBARDIER GLOBAL EXPRESS XRS SERIAL NUMBER 9371
IN SERVICE DECEMBER 2010, AIRFRAME ON SMART PARTS PLUS, ENGINES ON ROLLS ROYCE CORPORATE CARE, APU ON HONEYWELL MSP, ONE OWNER SINCE NEW, BATCH 3.3, FANS 1/A, CPDLC, TCAS 7.1, ENHANCED VISION SYSTEM (EVS), HEAD-UP DISPLAY (HUD), INMARSAT SWIFTBROADBAND & INMARSAT SWIFT 64
2000 BOMBARDIER GLOBAL EXPRESS SERIAL NUMBER 9027
ENGINES ON ROLLS ROYCE CORPORATE CARE, APU ON JSSI, VIASAT KU-BAND INTERNET, BATCH 3.4 AVIONICS UPGRADE, ADS-B OUT, FANS-1/A, CPDLC, MAINTAINED & OPERATED PART 135, NEW EXTERIOR PAINT 2016
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1998 BOEING BUSINESS JET SERIAL NUMBER 29273
NEW INTERIOR REFURB 2017, NEW EXTERIOR 2017, FANS-1/A, TCAS 7.1, ADS-B, LOW CABIN ALTITUDE UPGRADE, HEAD-UP DISPLAY (HUD), APPLE TV, SATCOM SBB UPGRADE – WIFI HD-710, IFE/CMS UPGRADE, 9 PATS TANKS – LONGEST RANGE BBJ AVAILABLE ON THE MARKET
2008 AIRBUS ACJ318
SERIAL NUMBER 3530 – REGISTRATION VP-CKH EXTENDED RANGE VARIANT, INTERIOR COMPLETION CARRIED OUT BY LUFTHANSA TECHNIK, EU-OPS 1 CERTIFIED
2008 GULFSTREAM G550 SERIAL NUMBER 5182
ONE PRIVATE OWNER SINCE NEW, VERY LOW TOTAL TIME – ONLY 3,000 HOURS, FORWARD GALLEY, ENHANCED NAVIGATION INCLUDING WAAS, LPV, FANS-1/A+, ADS-B OUT & CPDLC, SYNTHETIC VISION (SV-PFD), HEAD-UP DISPLAY (HUD) AND EMERGENCY VISION ASSURANCE SYSTEM (EVAS), HONEYWELL AVIONICS PROTECTION PLAN (HAPP) AND MAINTENANCE PROTECTION PLAN (MPP), SECURAPLANE WITH THREE EXTERNAL CAMERAS, ALWAYS HANGARED, ALL MAINTENANCE AT GULFSTREAM AEROSPACE DALLAS
2013 DASSAULT FALCON 7X SERIAL NUMBER 186 – REGISTRATION M-YJET
OUTSTANDING ONE OWNER SINCE NEW, IMMACULATE CONDITION, EASy II+, ENGINES ON PRATT & WHITNEY ESP GOLD, APU ON HONEYWELL MSP GOLD, HEAD-UP DISPLAY, ENHANCED NAV WITH WAAS-LPV, FANS-1/A, CPDLC WITH ATN, ADS-B OUT, HONEYWELL MCS-7120 SATCOM WIFI, FUEL TANK SB 338 COMPLETED, SB 7X-353 R1 FLUID CIRCULATION IMPROVE, SB F7X-393 R1 FUEL SUMP DRAIN
25 Park Lane, London W1K 1RA EU +44 (0) 203 603 0000 | US +1 917 414 1995 sales@thejetbusiness.com | www.thejetbusiness.com
MarketIndicators JAN20.qxp_Layout 1 18/12/2019 10:26 Page 6
MARKET INDICATORS
Large Jets Ask Price vs. Maintenance Exposure
Asset Quality Rating
$ Millions
Scale -2.500 to 10.000
$ Millions 5.700
November’s fleet ETP Ratio improved to 64.3% from October’s 70.9%, the lowest (best) monthly Ratio since April.
Market Summary
As we prepare to close out the year, older aircraft pricing is skewing some asset values, especially for aircraft not meeting the January 2020 ADS-B Out mandate. While non-equipped turbine assets will not be ‘worthless’, their values will be negatively impacted and, for many aging assets, this could translate into a figure at, or near, salvage value.
Medium Jets
Nov-19
Oct-19
Sep-19
Nov-19
Oct-19
Sep-19
Aug-19
Jan-19
5.000
5.110
Dec-18
$1.20
Nov-19
$2.30
Oct-19
5.100
Sep-19
$1.25
Aug-19
$2.50
Jul-19
5.200
Jun-19
$1.30
May-19
$2.80
Apr-19
$2.70
Feb-19
5.300
Mar-19
$1.35
Jan-19
$1.33
Dec-18
Aug-19
Scale -2.500 to 10.000
$2.90
32 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
Jul-19
Asset Quality Rating
$ Millions
Jul-19
Ask Price vs. Maintenance Exposure
Medium Jets: Medium Jet figures are a bit of a conundrum. While Maintenance Exposure has been rising continuously since June, posting a 12-month high (worst) figure during November, Ask Prices are also at a 12-month peak figure, having risen 14.4% since December. Compared to the rest of our tracked fleet, the group’s ETP
Jun-19
•
May-19
• •
Large Jets recaptured first place with the lowest ETP Ratio (53.9%); Turboprops dropped to second position at 54.1%; Small Jets reposted their September figure of 67.3% following last month’s spike; Medium Jets improved slightly to 73.6%.
Large Jets: The tracked fleet decreased by seven units during November, but inventory was up 30 units YTD. Still, the fleet mix changes improved the group’s Quality Rating for the third consecutive month, keeping it in the ‘Outstanding’ range for the seventh consecutive month. Maintenance Exposure also improved (decreased) 5.2% in November to post a 12-month best (low) figure, while Ask Prices decreased 1.8% to below the 12-month average. For serious buyers, the opportunities are unlikely to get much better than this.
Apr-19
•
Jun-19
5.300
May-19
$2.90
Apr-19
5.400
Mar-19
$3.10
Mar-19
Nov-19
Oct-19
Sep-19
Jul-19
Aug-19
Jun-19
May-19
Apr-19
Mar-19
Jan-19
Feb-19
$2.99 Dec-18
$10.0
5.500
Feb-19
$11.0
$3.30
Feb-19
$11.0
5.554
5.600
Dec-18
$12.0
Jan-19
$3.50
www.AVBUYER.com
MarketIndicators JAN20.qxp_Layout 1 18/12/2019 11:43 Page 7
AVBUYER.com Tony Kioussis is president of Asset Insight. The company provides audit and valuation services and has developed a standardized Asset Grading System scale that evaluates an aircraft’s maintenance condition.
Small Jets Ask Price vs. Maintenance Exposure
Asset Quality Rating
$ Millions
$1.95
Scale -2.500 to 10.000
$0.73
$1.85 $1.75
$0.85
5.400
$0.75
5.200
$0.65
5.000
5.183
Ratio has remained high throughout 2019, although Ask Prices have been keeping it near the group’s 12-month low (best) figure. The one certainty is the number of inventory aircraft, a figure that has risen 11.7%. With ever increasing selection, sellers are not likely to realize some of the Ask Prices posted for their assets.
Nov-19
Oct-19
Sep-19
Aug-19
Jul-19
Jun-19
May-19
Apr-19
Mar-19
Feb-19
Jan-19
Dec-18
Nov-19
Oct-19
Sep-19
Jul-19
Aug-19
Jun-19
May-19
Apr-19
Mar-19
Jan-19
Feb-19
$1.65
Dec-18
$1.73
remained within a narrow band since June. Ask Prices were up 1.4% in November, but inventory increased by 15 aircraft, making it more beneficial for buyers than sellers. Still, this group continues to demonstrate strong resilience, and with pricing below the group’s 12-month average, buyers should be able to identify good values.
Small Jets: Ask Price remained virtually unchanged for this group during November, while asset Quality and Maintenance Exposure MI www.assetinsight.com ❙ improved, with the latter recovering from the huge spike it posted in October. Asset Quality Rating Key Our tracked fleet decreased by nine units, but overall Insight analytics Very Below inventory is up 18.8% sinceAsset December – a clear(www.assetinsight.com) challenge for Outstanding Excellent Good Good Average Average sellers. What surprises us is that Ask Prices have only decreased 5.500 5.250 5.000 4.750 4.500 Less 2.9% YTD... Asset Insight analytics (www.assetinsight.com) or Greater
Turboprops: Turboprop asset Quality has stayed within the ‘Good’ range since February, while Maintenance Exposure has
Turboprops
www.AVBUYER.com
5.200
$0.65
5.100
to 4.749
than 4.500
Nov-19
Oct-19
Sep-19
Aug-19
4.700 Jul-19
$0.50
Jun-19
4.800
May-19
4.900
$0.55
Apr-19
$0.60
4.954
5.000
Feb-19
Nov-19
Sep-19
Aug-19
Jul-19
Jun-19
May-19
Apr-19
Mar-19
Feb-19
Jan-19
Dec-18
$1.40
Oct-19
$1.44
$1.45
$0.70
Jan-19
$0.62
$1.50
to 4.999
Scale -2.500 to 10.000
Dec-18
$1.55
to 5.249
Asset Quality Rating
$ Millions
Mar-19
Ask Price vs. Maintenance Exposure
to 5.499
AVBUYER MAGAZINE Vol 24 Issue 1 2020
33
1 9 9 3 C h a l l e n g e r 6 0 1 3 A / E R s /n 5 1 2 8
AIRCRAFT SALES & ACQUISITIONS
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3,717 Total Time. ADS-B Out. WAAS/LPV. GE OnPoint. -150 APU on MSP. HAPP. Extended Range Fuel.
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•
2008 Citation Mustang
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7,671 Total Time. 2019 P/I. WAAS/LPV. ADS-B. ATG-5000. FDR. TCAS 7.1. OnPoint/MSP Gold.
2 0 1 6 C i t a t i o n S ove re i g n + s /n 6 8 0 - 0 570
1,298 Total Time. Factory Warranty! Full Programs! WAAS/LPV. ADS-B. FDR. ATG-4000. Swift HSD/Wi-Fi.
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Market Insight 2.qxp_Layout 1 18/12/2019 11:46 Page 1
MARKET INSIGHTS Mike Chase’s analytical and consultancy services are highly valued within the Business Aviation industry. He is founder and president of Chase & Associates. He works closely with several respected sources to compile his unique JETNET>>KNOW MORE review. Contact Mike via mike@jetnet.com
How Many Used Jets Are Financed Today? As 2019 neared its end, what new trends had developed in new business jet deliveries and pre-owned sales? Mike Chase draws
some highlights in his latest JETNET >>KNOW MORE review‌ nder the US 2017 Tax Cuts & Jobs Act, taxpayers could deduct up to 100% of the cost of both new and used aircraft purchased after September 27, 2017 and placed in service before January 1, 2023. After December 31, 2022 the Act decreases the percentage available each year by 20% to depreciate qualified aircraft until December 31, 2026. The question right now is whether this law has been a stimulus of growth for the business jet market?
U
Business Jet Market Bifurcation
Chart A (below) shows that in 2009, a separation began between the market values (B&CA equipped prices) of the business jets forming the top half of the segment, and those in the bottom half. That gap has not closed since. Between 2008 and 2010, the market value for the bottom half bizjet segment declined sharply, but since
2011 has changed relatively little. While maintaining the gap, the top segment of business jets increased sharply between 2013 and 2015 and then dropped. Estimates for 2019 indicate another sharp increase for the top half segment - the result of several new Large Cabin and Ultra-Long-Range Jets entering the market in 2019.
New and Pre-Owned Business Jet Cycles
New and pre-owned business jet cycles are different, as highlighted by Chart B (top, right) which illustrates the differences between 2003 and 2018. One of the pre-owned market metrics we often consider is the fleet percentage for sale. This has steadily declined, largely because the total fleet has grown. More new business jets have been built, and fewer older jets have been retired. The number of business jets for sale had dropped
Chart A: BizJet Market Value: Bottom Segment vs Top Segment $18 '03-'08 CAGR: 19'7% Bottom, 15.3% Top
Market Value in '19 $Billions
$16 $14 $12
'10-'17: 2.3% Bottom, -0.6% Top
$10 $8
$6 '08-'10: -56.8% Bottom, 3.5% Top
$4 $2 $0
Bottom Half (<$26M)
Top Half (>$26M)
Source: Richard Aboulafia, Teal Group
38 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
www.AVBUYER.com
Market Insight 2.qxp_Layout 1 18/12/2019 11:51 Page 2
AVBUYER.com Chart B: New vs Pre-Owned Business Jet Delivery Trends (2003-2018) New and Pre-owned Business Jet Cycles are different... 3000 2800 2600 2400 2200 2000 1800 1600 1400 1200 1000 800 600 400 200 0
2,908 ‘18
NEW RECORD
1,744 ‘03
518 ‘03
2,531 ‘16
2,211 ‘07 1595 ‘09
Pre-owned
1,313 ‘08
New
703 ‘18
Source: GAMA – New; JETNET Pre-owned Whole & Leases; Presentation and Analysis by Chase & Associates
below 2,000 but is now rising again. As of September 2019, there were 2,187 used jets for sale (9.8% of the worldwide fleet). That compares with 2,961 for sale (17.7% of the fleet) in July 2009. Although the fleet for sale percentage has been rising, we’re still in a traditional ‘seller’s market’ where less than 10% of the fleet is on the market. Many aircraft brokers will attest that the reduction of pre-owned sales in 2019 has less to do with declining demand and more a lack of late model, clean aircraft appealing to today’s typical buyer.
How are Business Jets Being Purchased?
The percentage of pre-owned retail transactions for business jets that were financed (as opposed to cashbought) was roughly a 50/50 split from 2000 leading up to the 2008 financial crisis. When the Great Recession came, securing debt financing became challenging for buyers.
Chart C shows that during the 18 months of the Great Recession that there was a 20% increase in cash purchases. Today, the ratio of transactions is 29% financed compared to 71% cash bought, according to JETNET’s research of actual financial documents filed at the FAA in Oklahoma City at the time of sale. This is relatively unchanged since June 2009. Moreover, using data from Chart C we can establish there’s been growth in the average number of cash transactions but a decline in the financed transactions, as shown in Table A, overleaf. Since the great recession banks are more closely regulated (Basel III Accord), and the aircraft finance environment is very different than it was before the recession. This could be one of the underlying reasons for the shift toward cash transactions today. Other possible causes are the higher deposits required and personal loan guaranty from company executives.
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Chart C: Pre-Owned Sales, Financed vs Cash-Bought
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Gulfstream G650ER • S/N 6255
Gulfstream G550 • S/N 5265
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Falcon 50 • S/N 112
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MARKET INSIGHTS
AVBUYER.com Table A: More Cash Transactions, Fewer Financed Transactions PERCENTAGE
AVERAGE CASH
CASH
TOTAL
598
671
1,269
47%
53%
100%
Recession
491
771
1,262
39%
61%
100%
Post-Recession
483
1,152
1,635
30%
70%
100%
PERIOD
Debt financing for pre-owned business jets is, of course, available today and there were over 450 banks and financial institutions that processed pre-owned business jet debt instruments (not including leases) in 2019, per JETNET.
Twelve-Month Moving Average Retail Sale Transactions Analysis
From January 2012, the twelve-month moving average for used business jet transactions steadily increased until June 2016, when it reached 2,725 units (Chart D, below). A falling-off occurred in H2 2016 when a low point of 2,531 transactions was reached. The twelve-month moving average subsequently increased again, peaking at 2,908 in December 2018. Starting in January 2019, the moving average started to decline, and had dipped to 2,556 by September 2019, only slightly above the 2,531 recorded in December 2016. Business Aviation has experienced a major change in the pre-owned market through Q3 2019. While the new jet market at Q3 2019 was up 15.4% Year-over-Year (per GAMA data), the pre-owned/used market was down 16.9% YoY.
In Summary
TOTAL FINANCED
FINANCED
Pre-Recession
Has Bonus Depreciation been a stimulus of growth for the business jet sales market? We hope so, but we have not found a method for measuring it. What we do know is that
cash purchases continue to be the preferred method among buyers. As we continue through these unprecedented economic times, there’s no doubt that buying patterns, and the means of purchasing assets like business aircraft will continue to be impacted. Ten years after the effects of the great recession were felt in earnest, we can reflect on the following: •
• • •
During the 2003 market recovery, it took approximately three years for prices to bottom-out, languish, and then start to climb. It then took approximately five years (2003-2008) for prices to reach their peak. More than 10 years since aircraft values began to drop in mid-2008, prices are still at historic lows. US corporations and wealthy individuals have a stockpile of liquid cash available to purchase. However, demand has been very selective. New business jet models continue to be certified and generate interest in the marketplace, which is good news.
Ultimately, the trend to watch is the pre-owned business jet market’s downward trend. Expectations are for a strong Q4 to reverse the downward trend. We’ll keep you updated in future articles. ❙ More information from www.jetnet.com
Chart D: Pre-Owned Business Jets Retail Sale Transactions*
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Dealer Broker Market Update As 2019 came to a close, what were the dealers and brokers saying of the pre-owned business aircraft marketplace? Dave Higdon spoke to a selection to gain their insights on the latest trends…
I
n the Business Aviation markets, a slow but solid start to 2019 looked like ending with a sense that someone had put their foot on the brake. Although new jet sales appeared to enjoy good times (per GAMA’s Q3 2019 Shipment Report), all the tensions seemed to be manifesting themselves in a slowing of pre-owned business aircraft sales. The slowdown is expected to continue into the next year or longer, judging by input from various used aircraft dealers, brokers and new airplane sales executives, as the catalysts behind the declines are expected to be ongoing. Among those catalysts is a sense that the global economy is slowing – a trend expected to gain traction. As Honeywell's long-term new aircraft sales forecast outlined, however, operators have a growing interest in buying (and/or refurbishing) pre-owned aircraft. Honeywell’s survey of flight operators showed they anticipate pre-owned jet acquisitions will account for 32% of their fleet purchase plans, a gain of 8% from the previous year's outlook. That outlook aligns with the lower outlook for new jet sales Honeywell projected in its annual survey released in October 2019. Expectations for higher total value in new and used business jet sales reflects higher dollar value, rather than stronger overall sales. Today, used aircraft transactions outnumber new 46 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
aircraft sales by about four to one. And new airplane sales still trail the record levels achieved just ahead of the Great Recession of 2008, by a wide margin. With the percentage of used business aircraft for sale hovering close to 10%, the trend need only continue at its relaxed pace to transition from being a sellers’ market to becoming a buyers' market in 2020. Nevertheless, “there's little sign that the larger pool of aircraft for sale is having a meaningful effect on preowned jet prices,” one broker located on the US East Coast told AvBuyer.
Market Slowdown Affects All
On a global stage, there’s been a notable decline in aircraft operating within the Asia-Pacific region where business optimism has plunged over the past year, causing some to sell their jets. And, according to one West Coast dealer who works in the Asia-Pacific market, “It's difficult to separate what's driving attitude change. But the stresses within China, the Hong Kong prodemocracy protests, and China's increasingly militant responses can't be helping. “The same can be said of the impact on marketconfidence from the continuing tit-for-tat tariff combat being exercised in Europe, Asia, North and South America. Meanwhile, many economic indicators remain strong and positive.” www.AVBUYER.com
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Transactions have declined by more than 15%, and the inventory is up at almost 10% as business jet sales slowed quarter-to-quarter through 2019. Market observers see no help coming from further tax-law changes. “We had a big, big tax cut come our way in 2017,” a Southeast dealer noted. “The accelerated depreciation helped stave off a down year, but the impact wasn't as strong for 2018 – and it’s been all-butgone in 2019. “If you don't believe there are still optimists out there, look back at advertising in the closing months of 2019,” the dealer continued. “Pre-owned dealers and brokers actively pushed the year-end tax-savings potential of buying an aircraft with depreciation still available.” But, the dealer cautioned, “With so many buyers trying their best to use up those depreciation benefits their availability this year isn't what it was a year earlier. And some won't have any depreciation benefits left, after those deductions were used to the maximum in the first and second tax years.”
The Impact of Equipment Changes
For nearly a decade the aviation community watched the approaching equipment mandates, including ADS-B Out, CPDLC and PBN. These were designed to improve traffic flow, communications flow and airspace capacity. The clock ran out for ADS-B, as of January 1, 2020, and the FAA is in the process of implementing expanded use of PBN and CPDLC. The FAA plans to resume decommissioning scores of VOR navigation transmitters to reduce costs as precision GPS navigation continues to percolate through the fleet. These mandates helped spur new aircraft sales in the
past few years as avionics companies worked to create solutions for the huge variety of aircraft in need of those systems (literally every aircraft in the case of ADS-B). Now, according to a sampling of brokers and dealers, the lack of solutions has contributed to the decline in used aircraft sales. “Most of the aircraft still viable for corporate use are ADS-B compliant, or have a solution waiting to be installed when the owner can get the airplane into an avionics shop,” a Southwest broker told us. “A substantial number of those still without an ADS-B solution could be headed to the boneyard. Some still await a late-arriving, economical ADS-B solution that may save their airplane.” Many older jets with early generation integratedavionics packages can find solutions for as little as $50,000 and the change is as simple as a transponder upgrade. “These eleventh-hour arrivals will save quite a few operators from needing to buy a different aircraft,” the broker explained. For others, however, the need for an ADS-B solution will inevitably mean changing aircraft. “The solutions available cost similar to the scrap value of the aircraft, or the waiting list may be so lengthy that replacing the aircraft is the better option for continued operations.” And various dealers and brokers cited those ‘eleventh-hour’ options for keeping the decline in preowned sales from being worse. “It won't take long for the fleet to shrink because avionics obsolescence has forced owners to ground their airplanes,” predicted the East Coast broker. “When that corner is turned the pre-owned market should start seeing some recovery.” ❙
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How to Take Your Ego out of Aircraft Values
Aircraft appraiser Jeremy Cox shares some home truths for today’s buyers and sellers of used business aircraft. Following are three main differentials between buyer and seller expectations, placed in the perspective of market reality…
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AVBUYER.com Jeremy Cox is president, JetValues Jeremy LLC. Jeremy has been an aircraft broker, director of maintenance for several different companies and employed by several airframe OEMs’ independent service centers. Contact him via jeremy@jetvaluesjeremy.com
he secret to success in buying and reselling used business aircraft hasn’t changed a jot. In all cases, the path to enlightened success lays in buying the youngest, lowest-time, best equipped aircraft that your money can buy. It’s as simple as that! I have been told many times by billionaires and multimillionaires that they, “never make their money on the sale”. Instead they make their money (built-in profit) upfront when they make the purchase.” So how can you help ensure you’re aligned with the market realities of today? Following are three tips on helping you do just that...
T
1. Used Aircraft Value is a Matter of Perspective
Unlike ‘market value’, the ‘appraised value’ is not necessarily the price an aircraft will be bought or sold for. Rather, it’s a guideline in the selling or buying process. Generally, an aircraft will not be sold for more than the appraised value, especially if a lender is financing the purchase. Yet the aircraft may be worth more than the appraised value to a buyer or seller, based upon their own unique circumstances. As an aircraft broker (before moving into aircraft appraisals) it always made me laugh when a buyer asked the lowest price that I’d sell for. The answer was the highest price they would be willing to pay. Often a prospective buyer would call to enquire about an exclusive listing and proceed to pull it apart to the point at which even I began to believe that my listing was a horrible specimen. Of course, when it came to discussing the buyer’s trade-in aircraft it would often be the case that the factory had made an exception for their specific aircraft, building it much better than all of the others that came off the same assembly line. Essentially, the buyer would want way over the fair market value for their trade-in aircraft. In a similar vein, some owners firmly believe that every dollar spent on maintaining their aircraft since they purchased it has increased its value. Others believe their aircraft is perfect, even though a logbook audit reveals it has been through a tornado and hangar collapse, or the landing gear has never been overhauled and is ten years overdue. Most aircraft owners today do truly have a reasonable idea – or at least an intelligent inkling – of what their aircraft is worth. It’s just in their nature to trying to get ‘blood out of a turnip’, so to speak. If you’re interested in selling your aircraft anytime soon, you’ll need to come around to accepting that intelligent inkling, and the appraised value you engaged an aircraft appraiser to provide you with. These will help you get a true perspective on the value of an aircraft.
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Don’t place your aircraft on the market if it has stories or issues that need to be justified. Your asking price and selling price should be intelligently established to eliminate any buyer pushback.
2. Time Still Kills Deals (but now Sellers are Walking Away!)
The smart move today necessitates that more of your time is spent on the selection of your replacement aircraft than once was the case. Apart from most of the older used jets on the marketplace, many (if not all) late model aircraft have been increasing in value over the past 12 months (I’ve seen 10% to 15% increases for some). The age-old adage that “time kills deals” has been flipped on its head. During the long and precluded ‘Buyer’s Market’ it was common for a buyer to walk away from a transaction if the transaction was – in their opinion – taking too long. Today, it’s the seller who does the walking. There are a several reasons for this, but two prominent ones are: 1) The aircraft has gone-up in value and will get a higher price if sold to a late-comer; 2) The values of all the replacement aircraft have gone up, and when the aircraft upgrade/change is scrutinized, the seller gets cold feet and decides that what they currently have works just fine for them.
3. Used Aircraft Value: Separate Fact from Fiction
Fact: The factory didn’t build your aircraft better than all the others that came off the same production line. 52 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
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This is just posturing and hyperbole, and buyers can immediately see through it. Fact: It is the way the aircraft is treated throughout its operational career that determines its true valueenhancing pedigree (provenance). Fact: Paying for, and accomplishing maintenance, service bulletins and industry-standard upgrades on your aircraft will not add value or enhance the price. It will merely maintain its natural market value. Failure to have any of these items accomplished in accordance with the manufacturer’s mandated schedule will cause a reduction in value. Fact: When you’re ready to refurbish both the interior and the exterior of the replacement aircraft, remember that beauty is always in the eye of the beholder. Your vision of beauty is unlikely to match that of the next owner of the aircraft. Wild, gaudy, lavishly over-the-top styling and flamboyance will not increase its value as ‘unique’. It will only reap you a lower selling price later. If you’re truly serious about selling your aircraft after you’ve freshened the exterior paint, leave it painted all white with absolutely no design stripes to deter a buyer: A blank canvas, for the future buyer to visualize and personalize. In summary, the bottom line of our discussion is to fix it before you sell it! That way you won’t fall victim to the time taken to get a deal over the line, ultimately killing the transaction! ❙ More information from www.jetvaluesjeremy.com www.AVBUYER.com
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1982 KING AIR B200 • BB-1036
2000 SOCATA TBM-700B • 180
2011 CIRRUS SR22T TURBO X EDITION • 0097
1981 CESSNA 340A RAM VI • 340A1204
1998 PIPER SENECA V • 3449057
2001 CESSNA TURBO 206H • T20608273
2002 CESSNA 182T • 18281086
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BUYING & SELLING AIRCRAFT Ken Elliott is a veteran with 52 years of aviation experience focused on avionics, in General and Business Aviation. Having a broad understanding after working in several countries on many aircraft types and avionics system, he has contributed to several work groups and committees, including for NextGen, Airport Lighting, Human Factors, Unmanned Aircraft and Low Vision Technology. In retirement, he is striving to give back the knowledge gained with an eye on aviation’s future direction.
Buying a Jet? Understanding the Advert Abbreviations (Part 2) In this series, Ken Elliott delves into the complexities of the terms used by aircraft brokerages in advertisements to distinguish their inventory from other aircraft on the market. This month, the focus is aircraft options and enhancements…
here are several areas of interest for an aircraft transaction (as represented in Table A) that are focused on the aircraft type and model chosen. Last month, we addressed the following: Aircraft Primary; Aircraft Times and Cycles; and Programs. Here, we’ll take an in depth look at ‘Options’, including typical factory options that may be available or already included on the aircraft for sale, and ‘Enhancements’, such as winglets or LED lights.
T
Aircraft Options
For the purpose of this article, ‘Options’ refers to additional aircraft capability, beyond the baseline, that is offered on new aircraft. The following is a
typical example, selectable as a technology option or even as part-option by most OEMs on a broad range of aircraft types. •
Example: LPV-SBAS-PRNAV
In this case, LPV-SBAS-PRNAV covers a suite of navigation capabilities allowing aircraft to use most routes, approaches and departures available in the airspace (see Table D and E, overleaf). While some options are ‘nice to have’, others are subject to where and how you intend to operate your newly acquired aircraft. Some options are generic, some are very specific to aircraft model (such as winglets) or to the
Table A: Grouping the Descriptive Abbreviations Used in Aircraft Transactions GROUPING
DESCRIPTION
Aircraft Primary
Model & Year of Manufacture
Aircraft Times & Cycles
Total Hours & Number of Times Flown
Programs
Tracking - In-Service - Warranty
Options
Typical Factory Options, Available or Included
Enhancements
Avionics – Winglets – LED Lights
Status
Service Currency – Aircraft Condition – Operating
Configuration
How is the Overall Cabin Laid Out?
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BUYING & SELLING AIRCRAFT Table B: Generic OEM Options for New Aircraft
OPTIONAL CAPABILITY
PURPOSE
FANS 1/A+
Oceanic & Remote Region DataLink
LINK 2000+
European Datacom
DCL ADS-B In
US and European Datacom Visual Display of Other Traffic
Steep Approaches
Approaches at Specific Runways (up to 5.5° GS)
LPV-SBAS-PRNAV
Advanced Precision 3D Navigation
2nd/3rd Systems
Redundancy/Dual Pilot Accessibility
EFVS (with HUD)
To Perform Approved Low Visibility Operations
SVS Advanced Radar (Uses OEMbranded/Trademarked Terms) Lightning Sensor Higher Speed/Broader Data/ More Services (Uses OEMbranded/Trademarked terms)
Additional Situation Awareness via Database Detection & Display of Lightning/Hail/ Turbulence/Windshear/Terrain Stand-Alone Lightning Feature if not on Radar Provides Maximum Broadband Capability (Often Using L-/Ka-/Ku-Band Satellite Capability)
equipment manufacturer (e.g. Honeywell’s baseline changes occur midstream, during an SmartRunway and SmartLanding). Even generic aircraft A LONG FORM model overall production lifecycle. options can have aircraft-specific components, It’s worth keeping an eye on OEM however, which dramatically impact pricing and announcements, marketing material and other user installation. This latter situation has enabled intelligence in this respect. competitive and creative alternative solutions from With reference to Tables B and C, there are third-party vendors in the marketplace. significant technology variations and sub-systems Furthermore, as new technologies mature, underlying some of these capabilities. For example, become more commonplace, and gain greater under FANS 1/A the following systems will need to acceptance in the market, OEMs tend to move conform: them from being ‘optional’ to ‘baseline’. Options are important to consider because many • Flight Management will enhance an aircraft’s performance and, by • Cockpit Voice Recorder extension, enable operations in areas where unique • VHF DataLink Radio airspace conditions exist. Regional specific options • Avionics Primary Suite will also likely add to the aircraft’s resale value, as • Satellite Communications there’s a tendency for potential owners to look for similar aircraft to those already being operated in a In turn, some of these same systems are critical for region, if the overall missions appear to be similar. other capabilities, such as the version of FMS Comments: Do not ignore past factory options, required for Steep Approaches. Again, it’s so when presented. It will be significantly more important to take a close look at Factory Options, expensive to add them later, once you realize when purchasing a new aircraft, taking full they’re needed to fulfill a mission. If you have a advantage of the cross-pollination of equipage strong inkling the aircraft will need to operate under levels to capability. unique localized or oceanic/remote operating rules Finally, do not overlook the services required to in the future, consider including factory options at operate the equipment options you have selected. the initial purchase stage. These range from databases to satellite, or from weather to charts. Obtaining the maximum And don’t be surprised to see some capabilities utilization from your new capability, via the right in Tables B (above) and C (opposite) that are Service Provider, is as important as the equipment currently listed as optional, listed as baseline when you consider your next aircraft purchase. Sometimes selection itself. 56 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
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AVBUYER.com Table C: Abbreviations of Terms in Table B Often Found in Aircraft Promotional/Specification Material
ABBREVIATION
LONG FORM
FANS 1/A
Future Air Navigation System (Latest Version)
LINK 2000+
Term for European Datacom (Latest Version) Departure Clearance Datalink
DCL
Automatic Dependent Surveillance Broadcast - In
ADS-B In LPV
Lateral Path Vertical
SBAS
Satellite Based Augmentation System
PRNAV
Precision Area Navigation
EFVS
Enhanced Flight Vision System
HUD
Heads Up Display (Can be Head Worn)
SVS
Synthetic Vision System
Enhancements
For the purpose of this article, Enhancements refers to new capabilities or upgrades available to an aircraft, post-delivery. Several new aircraft optiontechnologies listed in Tables B and C are also offered to the pre-owned market. •
Example: CRT to LCD (or later) Display Upgrade
Naturally, because the pre-owned market is so broad in scope and vast in size, there is an
exponential increase in the availability of choice. This market plays host to a number of niche third-party providers, some of whom directly compete with the major aircraft and avionics suite OEMs. Jet and Large Turboprop avionic equipment OEMs that provide full avionic suites are few in number, and includes: • Honeywell Aerospace • Collins Aerospace (United Technologies) • Garmin (for Part 25 Aircraft) • Universal Avionics (Elbit Systems)
Table D: Enhancements that are Additional or Different to Optional Capabilities
ABBREVIATION
LONG FORM
Wi-Fi (ATG)
Internet-Broadband (Contiguous USA)
Wi-Fi (WW)
Internet-Broadband (Worldwide)
CRT-LCD
Legacy Display Technology Replacement
EVS/CVS
Situational Awareness/Latest Low-Viz Ops
LED Lighting (External & Internal) Satellite Communication Major Cabin Modification(s) Power Outlets & Ports (can add Bluetooth)
Improved Visibility & Reliability Worldwide Data/Voice/Tracking/Navigation Improved Passenger Experience/Access Typically, for Carry-on Devices
Major Avionics Suite Changes
Increase in Cockpit Capability/Reliability
Safety (Stand-Alone Products)
From Tracking & Locating, to Surveillance
EFBs/MFD
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BUYING & SELLING AIRCRAFT Table E: Abbreviations of Terms in Table D Often Found in Aircraft Promotional/Specification Material
ABBREVIATION
LONG FORM
Wi-Fi (ATG)
Broadband Internet via Air to Ground
Wi-Fi (WW)
Worldwide Broadband Internet via Satellite
CRT-LCD EVS/EFVS/CVS EFVS (with HUD)
Cockpit Flat Panel Screens, from Cathode Ray Tubes to Liquid Crystal Displays Enhanced Vision System (Multispectral) Enhanced Flight Vision Systems (Adds Heads-Up Display)
CVS
Combined Vision System (Variations Using Multiple Sensors and Head-Worn Displays)
EFBs
Electronic Flight Bags (Usually Two)
MFDs
Multi-Function Display
There are many more companies focusing on specific technology groups, as listed in Tables B and C, and especially in Tables D and E. Comments: When considering an upgrade, look for the ability of the enhancement to adapt to changes. As more aircraft fill our airspace, operating rules adjust to accommodate, maintaining safe separation. This, is turn, drives hardware and software modifications in aircraft. Further, regional operation-dependent mandates (like Oceanic FANS) are introduced in phases, broadening the airspace over time, that will fall under new rules. Ask the MROs and OEMs to explain the long-term redundancy of their offerings.
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Next Timeâ&#x20AC;Ś
In our concluding article next month, we will delve into abbreviations used for aircraft Status and Configuration. â?&#x2122;
Disclaimer: The summaries and tables provided within this article are NOT fully inclusive and are meant to provide those abbreviations commonly found. It is not possible to include all of them here. It is assumed this article will help guide the reader to seek further information by knowing where to begin within the complex architecture surrounding an aircraft transaction.
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Buying&Selling 3 Jan20.qxp_Finance 17/12/2019 15:02 Page 1
BUYING & SELLING AIRCRAFT
Five Things to Avoid When Buying a Jet What are the buying practices to avoid in a business jet transaction? Why do they
cause problems, and how should buyers act to enable a smooth, successful aircraft purchase? Aircraft broker Jet Tolbert shares his insights…
uyers of business jets tend to be savvy investors and businesspeople. Often the nuances of their businesses lead them to look to Business Aviation as a tool to increase business growth and profitability. There are, however, some pitfalls that those in the market for an aircraft should avoid falling into. Here are five of the most common…
B
1) ‘Subject to Finance’ Deals
It’s very rare that a seller will take an aircraft off the market while a prospective buyer sorts out their financing options. When you’re ready to enter the market, you should pay a refundable cash deposit of approximately 5% the aircraft’s value into escrow immediately. The balance should be ready to fund within 30 days of an offer acceptance. 60 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
A financing bank could feasibly fund a purchase within two weeks of receiving the requested documents and loan application. This may not seem long, but if questions arise about corporate finances and the nature of the loan guarantees, the process may stretch beyond two weeks, leaving plenty of room for a buyer to get cold feet. For this reason, sellers are generally reluctant to remove aircraft from the market when they receive an offer ‘subject to finance’ or send other signals they’re not fully committed.
2) Using Non-Aviation Legal Counsel
There was once a saying in the aircraft sales industry that attorneys kill deals. This may well have emanated from the experience many sellers had with buyers whose legal counsel had little or no aviation knowledge. www.AVBUYER.com
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AVBUYER.com Jet Tolbert is President of American Aircraft Sales. Established in 1968, it is a premier brokerage firm which has been a trusted partner since corporations first began utilizing jet aircraft to grow their businesses. With offices in the US, a Latin America sales team and a partner office in Zurich, Switzerland, American Aircraft Sales is an active NBAA, IBAC, EBAA & AsBAA member.
upcoming maintenance events before entering into a sale agreement. The pre-purchase inspection is then more likely to confirm a buyer’s realistic expectations.
4) Consistent ‘Low-Ball’ Offers
The business aircraft markets are dynamic and the brokers and dealers in the business are keenly aware of values, ready to snap up a well-priced airplane for their savvy clients. However, approaching every seller in the market with offers that more closely resemble a ‘steal’ will waste a lot of time for everyone involved, and won’t get you far. Buyers should in fact be very cautious if an especially low offer is accepted, as it may indicate the aircraft holds a surprise answer to a question the buyer hasn’t asked yet... A good aviation board-certified attorney will offer a wealth of information that doesn’t need to be researched, thereby expediting the process and protecting against the possibility of a transaction going awry. This wealth of information often comes at a significantly lower cost when compared to a nonindustry attorney who may focus on the wrong details. While good and bad attorneys exist in all sectors, buyers who do due diligence to find the right attorney will greatly ease the process.
3) Changing Terms of a Deal Mid-Stream
It’s always tough to renegotiate things like the inspection work-scope after the price and terms have been agreed, and the deposit placed in escrow. The seller will understandably say the price agreed is based on the ‘exposure’ of the original agreement. Every pre-purchase inspection will turn up discrepancies that a seller must repair. The larger the inspection, the larger the bill is likely to be for the seller. Buyers may simply insist on a large inspection scope from the outset, but they’re unlikely to find sellers receptive and may end up with a lost negotiation. All aircraft have recurring, cyclical maintenance, so there will never be a pre-purchase inspection that negates all future maintenance exposure for the buyer. It’s better for buyers to be well informed on the maintenance condition of an aircraft and its www.AVBUYER.com
5) Waiting for a Confidential Sale of the Current Aircraft
Most buyers don’t want to own two airplanes. Nor do they want to get stuck without an airplane. Sellers understand this. However, things get tricky when a would-be buyer is waiting for a sale to go through on their existing aircraft to a ‘buyer’ that had previously expressed an interest. There are a lot of interested ‘buyers’ out there, but when the time comes to put their money where their mouth is, things tend to drag out and the pool of buyers shrinks. The most efficient way to transition to your next business jet is to actively market your current airplane first. Put yourself in the position of having qualified back-up buyers. This will increase your own bargaining position and make you best placed to act quickly when you need to.
In Summary…
The above points are all important, but they only scratch the surface of the underlying issue: The most educated buyers, with the best information, and the ability to act fast, get the best deals and smoothest transactions. An established, qualified aircraft broker will garner the most attention for your needs and the best results. Taking advantage of an opportunity is about far more than being at the right place at the right time. It’s the knowledge and experience that makes all the difference! ❙ AVBUYER MAGAZINE Vol 24 Issue 1 2020
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OWNERSHIP
What Does it Cost to Operate a Large Cabin Jet? What does it cost to own and operate a business aircraft? Working through the different categories, David Wyndham outlines some of the common characteristics of each, and considers the scale of the associated costs…
A
ny answer to questions asking what it costs to operate an aircraft must always start with, “it depends”. The following article discusses some of the dependent
variables. For the purpose of our discussion, Conklin & de Decker defines Large Cabin Jets as those that typically seat 10+ passengers, have a flat cabin floor, include a galley for preparing a hot meal, and a lavatory. Cabin height should allow for most people to stand up without much of a stoop 64 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
(i.e., approximately 70 inches). And range should allow for at least 3,000nm non-stop. Aircraft typical of this category are the Gulfstream GIV and G450 series; the Dassault Falcon 900 series; the Bombardier Challenger 600 (through 650) series; and Embraer’s new Praetor 600.
How Much Does it Cost to Buy a Large Cabin Jet?
Acquisition costs for new models in the Large Cabin Jet category run between $32m to $45m. Pre-owned www.AVBUYER.com
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David Wyndham is vice president of Conklin & de Decker, a JSSI Company, where his expertise in cost and performance analyses, fleet planning and life cycle costing are invaluable. He’s formerly an instructor pilot with the US Air Force. Contact him via david@conklindd.com
“...a buyer may elect to spend a further $1m to $2m on upgrades, paint and interior refurbishment.” prices vary as many of these models will have been in production for many years. However, a typical 20year-old Large Cabin Jet can be purchased for between $4m and $6m. Keep in mind that placing a pre-owned aircraft into service will probably require additional funds, and a buyer may elect to spend a further $1m to $2m on upgrades, paint and interior refurbishment. Major maintenance checks may be due soon and must be budgeted for at the time of purchase. If the engines are close to overhaul and are not enrolled on a guaranteed hourly maintenance plan, then buyers should budget another $1m+ per engine for the overhaul. It’s essential that the pre-owned Large Cabin Jet buyer plans on these major expenses.
What’s the Operating Cost of a Large Cabin Jet?
Operating costs depends on the size and age of the aircraft. Below are some illustrative averages for a Large Cabin Jet, taken from the Conklin & de Decker Report. These have been rounded-off: Average variable cost per hour: Fuel*: Maintenance: Parts, Labor, Major Maintenance Reserves Engine Reserves:
$4,000 $2,000 $1,200 $800
* Fuel cost depend on fuel price (per gallon) and fuel burn. www.AVBUYER.com
What are the Data Costs of a Large Cabin Jet?
Another variable cost to budget for is Wi-Fi or airborne internet. The ultimate costs will vary, based on the type of connection, speed and amount of data used, and where you fly. If flying in the US, you could use an air-to-ground (ATG) system connected to cellular towers. Large Cabin Jets are typically used to fly globally, however, and if flying over water or in remote regions, maintaining internet connectivity will require a satellite-based system. There are different installation and rate plan options designed to fit the needs of both the passengers and pilots. New installations for a satellite system can run anywhere from $650k to $800k. Monthly rates based on data used and download speeds can start at $25,000 per month. An approximate data estimate is $2,000 to download a movie in HD or $4,000 to stream a live sporting event.
What are the Fixed Costs of Large Cabin Jet Ownership?
Fixed costs of Large Cabin jet ownership typically run between $1m and $1.2m per year and include the following: 1) 2) 3) 4) 5)
Salaries Training Hangar Insurance Refurbishment
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Here’s how the costs for these elements looks: 1) The pay for two pilots ranges from $170,000 to $200,000 per pilot, depending on job duties and level of experience. Depending on your operating location and travel schedule, it may be wise to employ an aircraft maintenance engineer/technician on a salary of $80,000+ per year. And if the schedule is complex, involving frequent changes and multiple individuals who can authorize use of the aircraft, a flight scheduler is recommended as well as an administrative person. Their salaries can be in the region of $60,000 per year. 2) Pilots need training at least annually and that can cost between $75,000 to $80,000 for two crew members. 3) For hangar rental, plan on an annual fee between $50,000 and $60,000 for a typical metropolitan area. Premium locations, like New York City, Hong Kong and Geneva, will be significantly higher. 4) Insurance can range between $30,000 to $60,000 depending on the aircraft value and liability limits. If the aircraft spends a lot of time outside of
developed countries, those costs may increase substantially. 5) Refurbishment of the paint and interior should also be considered. A new interior and paint job may last from seven to nine years with excellent care. Depending on the level of completion, materials and extra features, you should budget approximately $1.2m to $2m for this work. Additional costs that can be incurred include acquiring aircraft technical publications for the flight crew and additional maintenance, office and travel expenses.
What’s the Overall Cost of Owning a Large Cabin Jet?
In summary, it’s reasonable to plan an operating budget of approximately $2.8m per year for 400 annual hours operations in a Large Cabin business jet, excluding the costs of capital, taxes and depreciation. Next time, we’ll consider the question of what it costs to operate a Medium Jet. Stay tuned…! More information from www.conklindd.com T
AvBuyer - Read by Flight Departments Throughout the World 66 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
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What Caused Your Aircraft Insurance Rate Hike? The recent 24% hike for Andre Fodor’s flight operation insurance came as a shock. What caused the dramatic rise? Why will it impact the wider industry? And what can be done to help drive rates down again? Find out here… he simplest definition of budgeting within the Flight Department is ‘the sum of all things paid, plus adjustments for the year to come’. It’s necessary to look at the collected data to understand what will impact upcoming operational costs and find where opportunities exist to improve on the bottom line. When a new fiscal year approaches it’s time to renew your annual subscriptions. Items like navigation databases and engine care programs are not open for renegotiation annually, and price escalation is almost certain. This year, however, an unexpected rate increase snuck up on me... Insurance is different from any other coverage (which can be quoted through multiple sources until the best product is found). Aircraft insurance requires a single broker to act on your behalf, since insurers
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won’t tolerate multiple quote requests for a client. If you plan to change your insurance broker, a release must be signed before another broker will work on your behalf. So, what’s the story behind the surprise insurance increase? My principal owns several large companies, all of which need to be insured. I was recently approached by the corporate office finance team who were seeking to consolidate insurances with one broker. After many years using the same insurance agent, I was reticent to make the change, particularly when the prospective new broker warned me to expect higher rates due to insurance hikes. I believed that if I remained with my current broker my rates would remain stable. I was wrong… Having completed the paperwork to renew, the
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You could tie your capital up building an aircraft that won’t be delivered until next year –
\ Or, you could let us.
The fact of the matter is that financing a new business aircraft can start years before you take delivery. The question is whether the capital you’re putting toward those progress payments can be put to better use. With Global Jet Capital as your financing partner, you have the flexibility to fold progress payments into your permanent financing structure—and put your capital to work elsewhere. It’s just another benefit of our singular focus on aircraft financing. And with more than $2.6 billion in assets, world-class financial backing, hundreds of years of collective experience, and thousands of business aircraft transactions behind us, Global Jet Capital is uniquely positioned to craft customized financial solutions.
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renewal quote duly arrived, and I was flummoxed! Our new policy contained a 24% rate-hike and the removal of our ‘good client’ benefit which, in the past, had given us 10% cashback for not making a claim during the previous year.
What’s at the Root of the Rate-Hike?
When I asked the broker to shed some light on this alarming quote, he provided some intriguing insights. With thirty years’ experience specializing in aircraft insurance, and owning a small aircraft himself, our agent is very well informed. Lloyds Underwriters in London is the largest insurer/reinsurer of aircraft policies covering more than 50% of all aircraft insured worldwide. Although individual underwriting Syndicates at Lloyds collectively remain the single-largest aviation underwriting marketplace, all aviation insurers – Lloyds Syndicates included – are currently undertaking a strategic rating re-alignment across the board on aerospace risks (Business Aviation included). This is the result of a combination of a global realignment in insurance rates across many classes of insurance (property, liability, marine hull, aviation and more) following a general downward trend in rates over the past 10 years. From the perspective of the insurance carriers, premiums in many classes of insurance have come to a point where even a ‘normal’ level of loss is unprofitable, regardless of the abnormal losses. As the insurers look more closely at trading margins for each sector of the global insurance marketplace, if the risk/reward ratio is better in one market than in another class of insurance, insurers are re-allocating their capacity to those sectors. Generally, we’re seeing increases of between 10– 40% for most operations, while those with poor loss records are less fortunate. 70 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
AVBUYER.com
Moreover, 2019 was not a good year for aviation insurance companies, generally, thanks to an increase in aviation mishaps – including several runway excursions, fatal accidents and a substantial increase in ground-based incidents resulting from poor towing practices, distracted ground personnel and unsecured equipment. Having personally witnessed an increase in ground operations hazards, I can attest to the growing shortage in the experienced flight and ground crews that are necessary to maintain lower exposure to losses, thereby keeping insurance rates lower. One more ingredient to the rate-increase cocktail is that at least half of the world’s corporate aircraft are based in the US. Because of this critical mass, insurance premiums have been low. But counterbalancing this aviation-rich environment is the toxic reality that the US is also the greatest litigation nation. Insurance companies have taken sizable hits from some valid, but also some frivolous lawsuits.
Similar Hikes and Their Impact…
The hike in insurance will impact our entire industry. My broker shared that he’d had his aircraft insured for 23 years with the same company. During his own renewal cycle, he was asked to seek another insurer because his current one preferred not to renew. Moreover, one of the largest fractional providers faces a 30% rate hike. If one of the giants in the sector isn’t immune to such increases, it’s unlikely the rest will be. And customers may reasonably expect to have at least some of the cost passed on to them, in the same way that fuel surcharges became the norm previously.
How Should we Respond?
The reality is that rising costs could lead to the shrinkage of our business. As corporate managers and operators we must be stewards of our flight department budgets. Stringent attention to safety in all matters of aircraft operation is also paramount to keeping claims low and premiums viable. Together, let’s renew our pledge to stay focused on safety and excellence and do our part in helping reduce claims. This will make our industry, once more, desirable in the eyes of the large insurance providers. T With a focused approach on global excellence and creativity, Andre Fodor has managed flight operations for the U.N. and Flight Options as well as being a senior demonstration pilot and instructor for Embraer Aircraft. He is the Aviation Director for his current employer.
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Connectivity Proof 2.qxp_Finance 18/12/2019 15:29 Page 1
CONNECTIVITY Brian Wilson is the Director, Key Accounts at Gogo Business Aviation, an industry-leading provider of inflight connectivity and entertainment solutions. Prior to Gogo, he sat on numerous Dealer Advisory Boards along with being a member of the AEA Board of Directors.
On-Trend Cabin Wi-Fi Updates for 2020 It’s been a hot topic in Business Aviation these past few years, with increasingly sophisticated solutions coming to the market. What are the popular cabin connectivity solutions for your business jet in 2020? Brian Wilson offers an overview…
B
y all standards, 2019 was a monumental year for cabin Wi-Fi upgrades on business jets. Based on industry feedback, this trend will carry into 2020 as competition in the market has driven down the costs for hardware and data services. Coupled with the insatiable appetite of today’s passengers to always be connected, installation facilities are augmenting their staffing to meet the demand. Satellite-based systems, consisting of Ka- and Kuband, dominated the connected cabin market in 2019. Most of these installations were tail-mounted parabolic antennas positioned under a radome, and most were installed on Super Mid-size, Large and Ultra-Long-Range Jets, due to the size of the antenna mounted under the radome.
International Cabin Connectivity: What’s on Trend in 2020?
Inmarsat: London-based Inmarsat has taken a strong industry lead with the introduction of Jet ConneX. Inmarsat’s worldwide Ka-band network has been very successful with the Large Cabin Jets and more than 500 installations have been completed. Most of the leading OEMs have certified the 72 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
system on their aircraft, including Gulfstream, Bombardier and Dassault, and data packages are provided by their approved Value-Added Resellers (VARs), including ARINCDirect, Satcom Direct and Honeywell. Normally, there are five to six plans with varying data speeds and usage limits, allowing operators to choose a plan that fits both their budget and mission plan. The higher-tiered data plans allow for video streaming, Virtual Private Networks (VPN) and even live TV. One operator claimed that Jet ConneX is capable of streaming data to 5-6 devices without any buffering. Data speeds reach 15Mb/s when you choose the top-tier plan. ViaSat: Based in Carlsbad, California, ViaSat has made a successful transition into the business jet community, offering both a Ku- and Ka-band product line. ViaSat leases transponder bandwidth from existing Ku satellite providers; but owns its Ka network (commencing with the first satellite launch in 2004). Since the company’s current Ka coverage is limited to the continental US, ViaSat leverages the expanded global coverage of its Ku network to www.AVBUYER.com
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offer a dual-band solution that it claims provides a seamless hand-off on most international flights. This dual-band solution offers data speeds up to 16Mb/s when using Ka, and up to 10Mb/s when using the Ku network. ViaSat plans to increase its Ka global footprint significantly with the launch of three ViaSat-3 Ka satellites over the next 3-4 years, while at the same time committing resources and support to its existing Ku customers. The company says operators who are satisfied with its existing Ku system are good to go. Those who want increased bandwidth and data speeds can easily switch to Ka. This is due to a form-fit functionality between the Ku and Ka hardware. Downtime is minimal as the boxes are exchanged and a minor wiring modification made. Though operators pay for the hardware upgrade, they receive preferential pricing.
operators and assist with configuration and support, and manage the software applications. Data speeds will approach 25Mb/s in the US and 15Mb/s in other regions, and Collins claims coverage is global (excepting the polar regions). Operators will be able to use their VPN, stream HD content and use multiple devices simultaneously, and multiple data plans will be offered by ARINCDirect. Collins manufactures the hardware, except for the tail-mounted antenna which was produced by Astronics and mirrors the ones from Inmarsat and ViaSat by mounting under a radome on top of the tail. Since ARINCDirect is also owned by Collins, operators will benefit from a single contact source for any concerns or issues they may encounter.
Collins Aerospace: Introducing its new high-speed satellite communications system, LuxStream, Collins teamed with SES, which runs the Ku-band network with a constellation of 70 satellites. Service provider ARINCDirect completes the triage of companies and will manage the airtime with the
Gogo Business Aviation: Broomfield, Coloradobased Gogo Business Aviation again captured the US domestic market with the launch of the Avance L5 product line. This new product was the next generation series allowing legacy Gogo operators to upgrade to a faster, more enriched
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Domestic/US Cabin Connectivity: Whatâ&#x20AC;&#x2122;s on Trend in 2020?
ď&#x20AC;š
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Air-to-Ground connectivity experience. The Avance L5 moved operators into a 4G spectrum, including streaming data like Netflix, YouTube and FaceTime calling. Demand for the L5 product exceeded sales expectations and created a hardware backlog in 2018 and early 2019. Gogo rectified that issue with increased production of this popular product. Other enriched features include Gogo Vision, movies and TV shows stored on the 4G box, allowing streaming content to 25+ devices at the same time without using any data from the ground. A moving map, Bloomberg news, destination weather and customization round out a powerpacked solution. Moreover, at NBAA-BACE 2019 Gogo announced it will have a true 5G solution in late 2021 called Gogo 5G. The new 5G product will work in conjunction with the Avance L5 system creating a redundant source for data and ensuring operators have continued coverage while flying in the continental US, most of Canada and Alaska.
Cabin Wi-Fi Upgrade: What are the Factors in Deciding?
When you break down the above offerings in a simplified approach, they share the following features: • Tail mounted antenna, number of boxes and weight are consistent • Coverage maps vary, but they cover almost all international routes • Data plans have multiple offerings • Data speeds are optimized for passenger experience 74 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
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So why choose one over the other? The big factor, of course, is certification and radome selection/availability. If your aircraft currently has a Ku radome and you’re considering an upgrade to Ka, the radome will need to be changed. Moreover, if a Ka radome has not yet been certified for your aircraft type, additional costs and downtime will be incurred. Even if your aircraft already has a Ku radome, this doesn’t mean it will work as efficiently with another Ku offering – and this is a shortcoming the MRO shops can easily overlook. You should ask them for proven transmissivity reports and efficiency ratings to safeguard against this issue impacting your upgrade. And any system you choose should be scalable. All the satellite providers have plans to launch future-generation satellites. Will your existing system be compatible? Will it require a simple software upgrade, or would the hardware need to be modified or even changed to become compatible? These would all require a certification amendment. US-based operators with international travel needs would be wise to consider both the Gogo Avance L5 for domestic coverage and one of the satellite options for seamless global coverage, providing redundancy systems on board the aircraft. Ultimately, there is one theme that has been consistent over the last few years and will not change any time soon… Aircraft without connectivity are far less attractive on the charter and pre-owned sales markets than those that do offer a good solution. ❙ www.AVBUYER.com
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HELICOPTER COMPARISON
Airbus H130
Helicopter Comparison: Airbus H130 v Bell 206L-4 In this month’s Helicopter Comparison, Mike Chase provides information
on a pair of popular single-engine turbine helicopters. How will the Airbus H130 compare with the Bell 206L-4? What are the pros and cons of each? Find out here…
ver the following paragraphs, we’ll analyse the performance of the Airbus H130 and Textron’s Bell 206L-4 to see how they compare within the market. We’ll consider productivity parameters (payload, range, speed and cabin size) and discuss their current market values, among other things. Having begun operations in 2012, the Airbus H130 is still in production. The Bell 206L-4 was built from 1992, but production ceased in 2017.
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Airbus H130
The Airbus H130 (formerly the Eurocopter EC130 T2) replaced the EC130B-4 Ecureuil. It features a more powerful Arriel 2D engine and a re-designed gearbox resulting in increased speed and longer
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range than its predecessor. A new avionics suite, a crashworthy fuel system and an active anti-vibration system (improving comfort for passengers) was also incorporated. At the time of writing there were 264 Airbus H130 helicopters in operation worldwide. With four aircraft still at the manufacturer and a further six retired, a total 274 units of this helicopter type have been built. Almost all the H130s in operation around the world are wholly owned (261), and just three are in shared ownership. North America is home to the largest Airbus H130 fleet percentage (44%), followed by Europe (18%) and Asia (18%). Together, these regions account for a combined 80% of the fleet. www.AVBUYER.com
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HOW MANY
EXECUTIVE
SEATS?
AIRBUS H130
vs.
$2.6 Million
5
$2.45 Million
5
(2017 Model)
BELL
206L-4
(2017 Model)
WHICH OF THESE HELICOPTERS WILL COME OUT ON TOP HOW FAST WILL I CLIMB
(Rate of climb, ft per minute at MTOW)
WHAT’S THE
HOW FAR
LONG RANGE
CAN WE GO?
CRUISING SPEED? (Knots)
(Nautical Miles)
Airbus H130 1,600ft
Bell 206L-4 1,320ft
327
Airbus H130 Bell 206L-4
325
120
Airbus H130 Bell 206L-4
110
1600 (ft)
WHAT’S THE
HOW MUCH 1200
VARIABLE
PAYLOAD CAN WE TAKE? (Lbs)
Airbus H130 Bell 206L-4
COST PER HOUR?
1,879 1,479
Airbus H130 Bell 206L-4
$555 $609
800
400
0
HOW MANY
HOW MANY
OPERATION ?
SOLD EACH MONTH?
UNITS IN
425
264
NEW/USED
2 (5.5%)
Sources used: Conklin & de Decker, Vref, B&CA, JETNET.
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2 (3%) 4 (5.7%)
12-month Average Figure (% Global Fleet ‘For Sale’)
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HELICOPTER COMPARISON
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Table A - Payload & Range Comparison
Payload & Range
Airbus H130 Bell 206L-4
5,512
4,450
958
753
Standard Fuel (lb)
MTOW (lb)
2,306
2,119
Useful Payload (lb)
Source: OEM; JETNET, B&CA
1,052
333
1,326
Avail Payload w/Max Fuel (lb)
325
Maximum Range (nm)
The data contained in Table A (left) represents information about aircraft payload and range, and is sourced from both OEMs, JETNET and B&CA magazine. As we have mentioned previously, potential operators should focus on payload capability as a key factor in selecting the right aircraft for the mission need. As represented, the Airbus H130 ‘Available Payload with Maximum Fuel’ (1,052lbs) is less than the Bell 206L-4’s 1,326lbs.
Cabin Cross-Section Comparison
1,312 1,334 1,334
Chart A - Cabin Comparison Bell 206L-4 Longranger IV
Airbus H130
H
Source: UPCAST JETBOOK; Conklin & de Decker
Chart B - Usage Comparison - Nov 2019
According to Conklin & de Decker, the Airbus H130 cabin volume measures 65cu.ft compared with the Bell 206L-4’s 73cu.ft. Chart A (left), courtesy of UPCAST JETBOOK, represents a cabin cross-section comparison and shows the Airbus H130 cabin has more width (6.12ft vs 3.9 ft) but the same height (4.2 ft) when compared with the Bell 206L-4. Not depicted is the fact that the Airbus H130 is also longer compared to the Bell 206L-4 (7.19 ft versus 5 ft) – though pilot space is not included in this measurement. Conklin & de Decker explains that calculating length, width and height alone won’t work when establishing an aircraft’s cabin volume. For example, the curve of the cabin must also be accounted for (and in this case, the Airbus H130 cabin curves while the Bell 206L-4 cabin is square). Hence the Bell 206L-4 cabin volume is greater while its width and length are shorter. The typical seating configuration for the Airbus H130 offers five executive passenger seats compared to five seats for the Bell 206L-4. The Airbus H130 provides 40cu.ft. external luggage space, while the Bell 206L4 offers 20cu.ft. The Airbus H130 (327nm) and the Bell 206 L4 (325nm) have nearly identical ‘normal’ ranges, according to data taken from each OEM.
Powerplants 5% 19%
13% Airbus H130
35%
Bell 206L-4 36% 14% Longranger IV
47%
Business
78 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
Helicopter Usage Comparison
31%
Charter
Personal
The Airbus H130 is powered by one Turbomeca Arriel 2D engine with 802shp transmission rating (the transmission rating is a limiting factor in the total rated and usable engine power output). Meanwhile, the Bell 206L-4 is powered by one Rolls-Royce 250C30P turbine engine with 600shp.
Other
Chart B (left) shows the usage of both helicopters. Interestingly, for both helicopters the largest percentage group of usage is ‘business’, and ‘charter’ is the next largest percentage of usage.
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AirCompAnalysis JAN20.qxp_ACAn 17/12/2019 15:39 Page 4
HELICOPTER COMPARISON
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Chart C – Total Variable Cost Comparison
Airbus H130
Total Variable Cost
The ‘Total Variable Cost’, illustrated in Chart C (left), is defined as the Cost of Fuel Expense, Maintenance Labor Expense, Scheduled Parts Expense, Engine Overhaul, and Miscellaneous Trip Expense. The Total Variable Cost for the Airbus H130 computes at $555/hr., which is 9% less than the Bell 206 L4 ($609/hr.), according to JETNET.
$555
Bell 206L-4
$609 $0
$400
$200
$600
Helicopter Comparisons
Table B (left) contains the used 2017 price from Vref Pricing Guide for each helicopter model. The average speed, cabin volume and range values are from the OEM/Conklin & de Decker, while the number of helicopters in-operation and percentage ‘For Sale’ are as reported by JETNET.
US $ per hour Source: JETNET
The Airbus H130 has 3% of its fleet currently for sale while the Bell 206L-4 has 5.7% for sale. The average number of new/pre-owned transactions per month for the Airbus H130 is two, compared to an average of four pre-owned Bell 206L-4 sales per month.
Table B - Market Comparison Airbus H130
Depreciation Schedule
Bell 206L-4
128
109
Average Cruise Speed (Kts)
65
73
Cabin Volume Cu Ft
327
325
$2.600 $2.450 Used 2017 Vref Price $USm
Normal Range (nm)
264
425
3.0% 5.7%
In Operation
2
4
Average New & Pre-owned Sold*
% For Sale
* Average Pre-owned Full Sale Transactions in the past 12 months Nov. 2019; Source: JETNET Data courtesy of OEM; Conklin & de Decker; JETNET; Vref
Table C - Part 91 & 135 MACRS Schedule MACRS Schedule for PART 91 Year Deduction
1
2
3
4
5
6
20.0%
32.0%
19.20%
11.52%
11.52%
5.76%
MACRS Schedule for PART 135 Year Deduction
H
1
2
3
4
5
6
7
8
14.29%
24.49%
17.49%
12.49%
8.93%
8.92%
8.93%
4.46%
Source: NBAA
Helicopters that are owned and operated by businesses are often depreciable for income tax purposes under the Modified Accelerated Cost Recovery System (MACRS). Under MACRS, taxpayers are allowed to accelerate the depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period (see Table C, bottom left). In certain cases, helicopters may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS) where depreciation is based on a straight-line method, meaning that equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are longer than recovery periods available under MACRS. There are a variety of factors that taxpayers must consider in determining if a helicopter may be depreciated, and if so, the correct depreciation method and recovery period that should be utilized. For example, helicopters used in charter service (i.e. Part 135) are normally depreciated under MACRS over a seven-year recovery period or under ADS using a twelve-year recovery period. Helicopters used for qualified business purposes, such as Part 91 business use flights, are generally depreciated under MACRS over a period of five years or by
80 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
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Leading Edge 8 to view January.qxp_Layout 1 16/12/2019 14:40 Page 1
2009 Gulfstream G550 s/n 5220
2013 Gulfstream G280 s/n 2013
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2004 Falcon 2000EX s/n 26
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Two U.S. Owners Since New, Nice Pain & Interior w/ 10 Pax Seating, Excellent Maintenance History
Collins ProLine 21 Avionics Suite, ADS-B Out w/ WAAS/LPV, Aircell ATG-5000 WiFi, Winglets
1996 Gulfstream GIV-SP s/n 1286
1996 Falcon 900B s/n 160
13 Passenger Fireblocked Interior, Engines On Condition and on RRCC, APU on MSP, ADS-B Out v2 and TCAS 7.1
One of the last Falcon 900B’s, Engines & APU on MSP Gold, GoGo Wi-Fi, Only Two Corporate Owners Since New
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AirCompAnalysis JAN20.qxp_ACAn 17/12/2019 16:28 Page 5
HELICOPTER COMPARISON
AVBUYER.com
Table D - Airbus H130 MACRS Depreciation Schedule 2017 Airbus H130 - Private (Part 91) Full Retail Price - Million $2.600 Year
1
Rate (%)
20.0%
2
32.0%
3
19.2%
4
11.5%
5
11.5%
6
5.8%
Depreciation ($M)
$0.520
$0.832
$0.499
$0.300
$0.300
$0.150
Cum. Depreciation ($M)
$0.520
$1.352
$1.851
$2.151
$2.450
$2.600
Depreciation Value ($M)
$2.080
$1.248
$0.749
$0.449
$0.150
$0.000
2017 Airbus H130 - Charter (Part 135) Full Retail Price - Million $2.600 1
Year
14.3%
Rate (%)
2
24.5%
3
17.5%
5
4
12.5%
8.9%
6
8.9%
7
8.9%
8
4.5%
Depreciation ($M)
$0.372
$0.637
$0.455
$0.325
$0.232
$0.232
$0.232
$0.116
Cum. Depreciation ($M)
$0.372
$1.008
$1.463
$1.788
$2.020
$2.252
$2.484
$2.600
Depreciation Value ($M)
$2.228
$1.592
$1.137
$0.812
$0.580
$0.348
$0.116
$0.000
Source: Vref
using ADS with a six-year recovery period. There are certain uses of helicopters, such as non-business flights, that may impact on the allowable depreciation deduction that is available in a given year. Table D (left) represents an example of using the MACRS schedule for a 2017 model Airbus H130 helicopter in private (Part 91) and charter (Part 135) operations over fiveand seven-year periods, assuming a used 2017 retail price of $2.6m (per Vref). Table E represents an example of using the MACRS schedule for a 2017 model Bell 206L-4 helicopter in private (Part 91) and charter (Part 135) operations over five- and seven-year periods, assuming a used 2017 retail price of $2.450m (per Vref).
Used Airbus H130/Bell 206L-4 Market Information
At the time of writing, the used helicopter market for Airbus H130s showed eight were for sale, all displaying an asking price. The price range for H130s fell between $2.38m and $3.35m. Meanwhile, there were 24 used Bell 206L-4 helicopters available for sale, 11 of which displayed an asking price. The price range for this model ranged between $772k and $1.8m. While each serial number is unique, the airframe hours (AFTT) and age/condition will cause great variations in price. Of course, the final negotiated price remains to be decided between the seller and buyer before the sale of an aircraft can be completed.
Table E - Bell 206L-4 MACRS Depreciation Schedule 2017 Bell 206L-4 - Private (Part 91) Full Retail Price - Million $2.450 Year
Rate (%)
1
20.0%
2
32.0%
3
19.2%
4
11.5%
5
11.5%
6
5.8%
Depreciation ($M)
$0.490
$0.784
$0.470
$0.282
$0.282
$0.141
Cum. Depreciation ($M)
$0.490
$1.274
$1.744
$2.027
$2.309
$2.450
Depreciation Value ($M)
$1.960
$1.176
$0.706
$0.423
$0.141
$0.000
2017 Bell 206L-4 - Charter (Part 135) Full Retail Price - Million $2.450 Year
Rate (%)
Depreciation ($M)
Depreciation Value ($M) Cum. Depreciation ($M)
1
14.3%
$0.350 $2.100 $0.350
2
24.5%
$0.600 $1.500 $0.950
3
17.5%
4
12.5%
$0.429
$0.306
$1.379
$1.685
$1.071
$0.765
Source: Vref
Bell 206L-4
5
8.9%
$0.219 $0.547 $1.903
6
8.9%
$0.219 $0.328 $2.122
7
8.9%
8
4.5%
$0.219
$0.109
$2.341
$2.450
$0.109
$0.000
Productivity Comparisons
The points in Chart D (right) are centered on the same helicopters. Pricing used in the vertical axis is as published by Vref for 2017 model helicopters. The productivity index requires further discussion in that the factors used can be somewhat arbitrary. Productivity can be defined (and it is here) as the multiple of three factors: 1. Normal or standard range; 2. An average or standard cruise speed flown to achieve that range; 3. Cabin volume available for executive passenger seating.
BY MAREK W (WIKIPEDIA)
82 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
Others may choose different parameters, but serious helicopter buyers are usually impressed with price, range, speed and cabin size. After consideration of the price, range, speed and cabin size, we can conclude that the Airbus H130 displays a high level of productivity. The 2017-model Airbus H130 shows a $150k higher purchase price, but a lower variable hourly operating cost and greater speed than the Bell 206L-4. However, the www.AVBUYER.com
w
AirCompAnalysis JAN20.qxp_ACAn 17/12/2019 16:28 Page 6
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9
Summary
Within the preceding paragraphs we have touched upon several of the attributes that helicopter operators value. However, there are other qualities that might factor in a buying decision. Our expectations are that the Airbus H130 will continue to do well in the new/used helicopter market, and the Bell 206L-4 will continue to be an attractive option on the used helicopter market for the foreseeable future. T
Chart D - Productivity Comparison $4.0
Price (Millions)
Bell 206L-4 offers a slightly larger cabin volume and greater ‘Payload with Full Fuel’ capability. It's easy to see why both models remain popular on the helicopter sales market today. Operators should weigh up their mission requirements precisely when picking which option is the best for them.
$3.0 $2.0
2017 Airbus H130 2017 Bell 206L-4
$1.0
$0.0 0.000
Mike Chase’s analytical and consultancy services are highly valued within the Business Aviation industry. He is founder and president of Chase & Associates, and works closely with several respected sources to compile his unique Aircraft Comparative Analysis features. Contact Mike via mike@avbuyer.com
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3:46:13 PM
2.000
4.000
6.000
Index (Speed x Range x Cabin Volume / 1,000,000,000)
Compare, Contrast, Decide with AvBuyer AVBUYER MAGAZINE Vol 24 Issue 1 2020
83
Values Intro.qxp_Finance 16/12/2019 15:12 Page 1
VALUES - LARGE CABIN JETS
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Business Aircraft Values: The Large Cabin Choice There are occasions when the operator’s mission dictates an aircraft of larger capacity. This month our value study focuses on our definition of Large Cabin and Ultra-LongRange business jets. he average Large Cabin and Ultra-Long-Range jets share more in common than they differ, with similar cabin sizes and comparable cruise speeds ranging roughly between 450-500kts. For the purpose of this month’s focus, we’ll categorise Large Cabin and Ultra-Long-Range jets under the generic category of ‘Large Cabin jets’, on the basis of their shared characteristics, and MTOWs that generally range between 38,000-100,000 pounds. Large Cabin jets have much in their favor. Seatsfull range capabilities typically go up to, and into the 6,000nm range, making these effective nonstop continent and ocean-crossing machines. The fewer the stops, the shorter the overall trip time! One disadvantage the Large Cabin jets have over their Small and Medium jet kin is their need for runways longer than 6,000ft, which restricts the number of airports they can use by comparison. Nevertheless, for the trans-oceanic traveller, the advantages offered by these airplanes far outweigh the negatives. Where the Large Cabin airplanes really excel (as the name would suggest) is in their cabin capacities. A cabin will typically stretch from 30-40 feet or more, enabling operators to enjoy a wider array of finishing options and office capabilities than jets in the smaller segments can provide. Cabin heights in excess of six feet guarantees stand-up cabin comfort, while seating capacity of 8-18 is typical.
T
84 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
Naturally, the size and range capabilities of Large Cabin jets don’t come cheaply, and you’ll need a larger fuel budget, more hangar space and a larger maintenance budget. Yet for the company with the need, the Large Cabin jet will rarely prove too small, and only occasionally be too large for an airport you’d prefer to access. In these situations, supplemental charter is the answer.
Large Cabin Jet Price Guide
The following Large Cabin Jets’ Average Retail Price Guide represents current values published in the Aircraft Bluebook–Price Digest. The study spans model years from 2000 through Winter 2019. Each reporting point represents the current average retail value published in the Aircraft Bluebook by its corresponding calendar year. For example, the Bombardier Challenger 300 values reported in the Winter 2019 edition of the Bluebook show $11.0m for a 2013 model, $10.5m for a 2012 model and so forth. Aircraft are listed alphabetically. With the reader’s knowledge of aircraft, equipment, range and performance, the following Guide allows the reader to determine the best value aircraft for consideration. Note: We have included 41 aircraft models in the following Large Cabin average price guide, and for additional assistance, Conklin & de Decker’s Performance and Specifications data for these models can be referred to, beginning on page 90.
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Corporate Concepts January.qxp 18/12/2019 16:04 Page 1
Corporate Concepts International, Inc. Executive Boeing 737-300
VVIP Boeing 737-200
New paint to be completed in 1st Qtr 2020 • Never a commercial airliner – Low total time • 42 passenger VIP interior with Forward Airstair • Engines overhauled, upgraded for increased power and decreased fuel burn, and enrolled in GE On-Point program • High Speed Internet, FANS-1/A, CPDLC, and ADS-B for 2020 • Recent Major Inspections • Long range fuel • Stage III Noise certified • For Sale, Lease or ACMI Lease • See www.flycci.com for details
BBJ Size Cabin and Comfort all for the price of a used Mid-Size Jet • Always VVIP – Only 7,500 hours • Recent Interior / Exterior Refurbishment with new generation Cabin Management System • High Speed Internet, CPDLC, FANS-1/A, ADS-B, Synthetic Vision and EVS • Stage III compliant JT8D-17 engines • Long Range Fuel – Extensive Spares Pkg. • “C” Check and Landing Gear O/H by Boeing service center – Delivers January 2020 • Video and full details at www.flycci.com Exceptional Value - $5,695,000
Gulfstream G-V
Falcon 900EX New to the Market
New exterior paint by Duncan – Recent Interior Refurbishment • Enrolled in Corporate Care, CASP and HAPP • FANS-1/A, WAAS/LPV, ADS-B and CPDLC, High Speed Internet by Gulfstream • Forward Galley – Forward and Aft Lavs • Seventeen passenger – Current FAR Pt. 135 • Heater Ribbon ASC Completed • Recent Engine Shop Visits
Priced to Sale – Trades Considered
Compliant with new 2020 requirements • Excellent hot/high performance and long range • Uncompromised performance for safe short field operation with three engine safety and reliability • Engines enrolled in in the Honeywell MSP Gold program • Transition to Extended “A” Inspection Program completed in December 2019
Photos and Full Details at www.flycci.com Coming – Gulfstream G-V and Falcon 900LX
Dennis Blackburn +1.832.647.7581 blackburn@flycci.com
Chris Zarnik +1.919.264.6212 czarnik@flycci.com
Larry Wright +1.704.906.3755 lwright@flycci.com
Retail Values May2019.qxp_RPG 16/12/2019 15:14 Page 1
VALUES - LARGE CABIN JETS
Large Cabin Jets: Average Retail Price Guide MODEL YEAR $
2019 US$M
2018 US$M
2017 US$M
2016 US$M
2015 US$M
2014 US$M
2013 US$M
2012 US$M
2011 US$M
2010 US$M
-
10.0
9.0
8.0
12.0
11.0
10.0
9.5
11.0
10.5
10.0
9.5
MODEL BOMBARDIER CHALLENGER 850ER BOMBARDIER CHALLENGER 650
11.0 25.0
20.0
19.0
18.0
BOMBARDIER CHALLENGER 605
-
16.0 14.0
13.0
13.5
13.0
BOMBARDIER CHALLENGER 604 BOMBARDIER CHALLENGER 350
20.0
17.0
15.0
14.0
BOMBARDIER CHALLENGER 300
12.0
BOMBARDIER GLOBAL 7500
70.0
BOMBARDIER GLOBAL 6000
40.0
36.0
33.0
31.0
29.0
27.0
25.0
23.0
BOMBARDIER GLOBAL 5000
36.0
32.0
28.0
26.0
24.0
22.0
20.0
19.0
17.0
16.0
20.0
19.0
18.0
BOMBARDIER GLOBAL EXP XRS BOMBARDIER GLOBAL EXP DASSAULT FALCON 8X
54.0
47.0
45.0
43.0
DASSAULT FALCON 7X
45.0
39.0
36.0
33.0
30.0
DASSAULT FALCON 2000LXS
31.0
27.0
26.0
23.0
DASSAULT FALCON 2000S
25.0
23.0
22.0
21.0
28.0
26.0
22.0
21.0
20.0
20.0
17.0
16.0
DASSAULT FALCON 2000LX
24.0
17.5
21.0
15.5
DASSAULT FALCON 2000DX EASy
19.0
13.5 12.0
DASSAULT FALCON 2000EX EASy DASSAULT FALCON 2000EX DASSAULT FALCON 2000 DASSAULT FALCON 900LX
36.0
33.0
30.0
27.0
24.0
21.0
20.0
19.0
18.5
17.5
DASSAULT FALCON 900DX
14.5
DASSAULT FALCON 900EX EASy
17.0
DASSAULT FALCON 900EX DASSAULT FALCON 900C EMBRAER LINEAGE 1000E
45.1
41.0
38.0
34.0
28.0
25.0 23.0
22.0
20.0
21.0
19.0
17.0
16.0
15.0
14.0
13.0
12.0
10.0
9.0
13.0
11.0
10.0
8.0
-
7.5
EMBRAER LINEAGE 1000 EMBRAER LEGACY 650-135BJ EMBRAER LEGACY 600-135BJ
18.0
EMBRAER LEGACY 135BJ EMBRAER LEGACY 500
16.0
15.0
14.0
13.0
12.0
EMBRAER LEGACY 450
14.0
13.0
12.0
11.0
10.0
11.0
GULFSTREAM G650ER
63.0
56.0
53.0
50.0
47.0
45.0
43.0
41.0
GULFSTREAM G550
42.0
37.0
34.0
32.0
29.0
27.0
26.0
24.0
22.0
20.0
21.0
19.0
18.0
17.0
16.0
15.0
14.0
12.5
10.5
9.5
GULFSTREAM G450 GULFSTREAM G400 GULFSTREAM G350 GULFSTREAM G300 GULFSTREAM G280
20.0
17.0
16.0
15.0
14.0
13.0
12.0
11.0
GULFSTREAM GV GULFSTREAM GIV-SP AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM
86 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
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Retail Values May2019.qxp_RPG 16/12/2019 15:14 Page 2
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What your money buys today
Winter 2019 2009 US$M
2008 US$M
2007 US$M
2006 US$M
7.0
6.0
5.0
4.0
9.0
8.0
7.5
2005 US$M
2004 US$M
2003 US$M
2002 US$M
2001 US$M
2000 US$M
MODEL YEAR $ MODEL BOMBARDIER CHALLENGER 850ER BOMBARDIER CHALLENGER 650 BOMBARDIER CHALLENGER 605
6.2
5.9
5.6
5.3
5.0
7.9
7.5
6.9
6.7
6.4
4.7
4.5
4.2
BOMBARDIER CHALLENGER 604 BOMBARDIER CHALLENGER 350
9.0
8.5
BOMBARDIER CHALLENGER 300 BOMBARDIER GLOBAL 7500 BOMBARDIER GLOBAL 6000
14.0
13.0
12.0
11.0
10.0
BOMBARDIER GLOBAL 5000
17.0
16.0
15.0
14.0
13.0
BOMBARDIER GLOBAL EXP XRS
12.0
11.0
10.0
9.5
8.5
7.750
BOMBARDIER GLOBAL EXP DASSAULT FALCON 8X
18.0
17.0
16.0
DASSAULT FALCON 7X DASSAULT FALCON 2000LXS DASSAULT FALCON 2000S
12.5
11.5
10.0
9.5
11.5
11.0
10.5
DASSAULT FALCON 2000LX DASSAULT FALCON 2000DX EASy
10.0
9.5
9.0
7.3
6.8
6.2
8.7
DASSAULT FALCON 2000EX EASy
7.5
6.8
5.7
5.0
DASSAULT FALCON 2000EX 4.7
4.3
3.5
DASSAULT FALCON 2000 DASSAULT FALCON 900LX
13.5
12.5
11.5
10.5
9.5
DASSAULT FALCON 900DX
16.0
15.0
14.5
13.5
12.5
11.5
8.4
7.4
11.0
DASSAULT FALCON 900EX EASy
8.5
8.0
7.5
7.0
6.7
6.5
5.9
5.8
DASSAULT FALCON 900EX DASSAULT FALCON 900C EMBRAER LINEAGE 1000E
16.0
EMBRAER LINEAGE 1000 EMBRAER LEGACY 650-135BJ
7.0
6.5
6.0
EMBRAER LEGACY 600-135BJ 5.5
5.0
4.5
4.2
4.0
EMBRAER LEGACY 135BJ EMBRAER LEGACY 500 EMBRAER LEGACY 450 GULFSTREAM G650ER
18.0
17.0
16.0
15.0
14.0
13.0
12.0
11.0
10.0
9.0
9.0
8.5
8.0
7.5
7.0
13.0
12.0
GULFSTREAM G550 GULFSTREAM G450
6.4
6.2
GULFSTREAM G400 GULFSTREAM G350
5.0
4.5
GULFSTREAM G300 GULFSTREAM G280 10.5
10.0
9.5
GULFSTREAM GV
6.0
5.7
5.4
GULFSTREAM GIV-SP
AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM
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ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION
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ACSpecs Intro.qxp_AC Specs Intronov06 17/12/2019 16:29 Page 1
SPECIFICATIONS - LARGE JET
Aircraft Performance & Specifications Large Jets
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he AvBuyer Magazine Guide to Aircraft Performance and Technical Specification Data is updated by Conklin & de Decker on a regular basis. The Guide is much more comprehensive and informative, providing more aircraft types and models and including variable cost numbers for all models. This month’s category of aircraft - Large Jets – appears opposite, to be followed by Medium Jets next month. Please note that this data should be used as a guide only, and not as the basis on which buying decisions are taken. The data presents aircraft aged below 20 years of age only, but Conklin & de Decker provides details of older airplanes too. If there are any other ways in which we can improve the content or presentation of this information, please let us know.
Tel: +44 (0) 208 255 4000; Email: editorial@avbuyer.com © 2020 Conklin & de Decker Associates, Inc., P.O. Box 1142, Orleans, Massachusetts, 02653, Tel. 508-255-5975, www.conklindd.com
Description of Cost Elements
The following describes the content of each cost element used in The Aircraft Cost Evaluator. There are no sales taxes included in these costs.
SPECIFICATIONS - GENERAL
Cabin Dimensions: Cabin Height, Width, and Length are based on a completed interior. On “cabin-class” aircraft, the length is measured from the cockpit divider to the aft pressure bulkhead (or aft cabin bulkhead if unpressurized). For small cabin aircraft, the distance is from the cockpit firewall to the aft bulkhead. Height and width are the maximum within that cabin space. Cabin Volume is the interior volume, with headliner in place, without chairs or other furnishings.
•
Maximum Payload is the maximum zero fuel weight minus the basic operating weight.
Performance Range: • Ferry Range - is the maximum IFR range of the aircraft with the maximum fuel on board and no passenger seats occupied. This uses the NBAA IFR alternate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft.
Seats Executive: This is the typical crew and passenger seating commonly used on the aircraft. This is not the maximum certificated seats of the aircraft. These numbers may vary for different operations (Corporate, Commercial, EMS, etc.).
Cruise Speed: (Knots True Air Speed - KTAS) Max Cruise Speed - is the maximum cruise speed at maximum continuous power. This may also be commonly referred to as High Speed Cruise.
Weights: • Maximum Take-Off Weight is specified during aircraft certification.
Engines: The number of engines, manufacturer and model are shown.
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Specifications.qxp_PerfspecDecember06 17/12/2019 15:14 Page 1
FERRY RANGE-nm (NBAA IFR FUEL RESERVES)
MAX SPEED (ktas)
NUMBER OF ENGINES
23.7
930
8
38850
3350
3065
470
2
HTF7000
BOMBARDIER CHALLENGER 350
6.08
7.17
23.7
930
8
40600
3400
3277
470
2
HTF7350
BOMBARDIER CHALLENGER 604
6.08
8.17
28.4
1146
10
48200
4815
3756
488
2
CF34-3B
BOMBARDIER CHALLENGER 605
6.08
8.17
28.4
1146
10
48200
4850
3756
488
2
CF34-3B
BOMBARDIER CHALLENGER 650
6.08
8.17
28.4
1146
10
48200
4850
3756
488
2
CF34-3B MTO
BOMBARDIER CHALLENGER 850
6.08
8.17
48.42
1964
15
53000
9382
2456
459
2
CF34-3B1
BOMBARDIER GLOBAL EXPRESS
6.25
8.17
48.35
2002
13
95000
5700
5940
505
2
BR 710-A2-20
BOMBARDIER GLOBAL EXPRESS XRS
6.25
8.17
48.35
2002
13
98000
4800
6055
511
2
BR 710-A2-20
BOMBARDIER GLOBAL 5000
6.25
8.17
42.47
1889
13
92500
7139
5200
511
2
BR 710-A2-20
BOMBARDIER GLOBAL 6000
6.25
8.17
48.35
2002
13
99500
5770
5890
511
2
BR 710-A2-20
DASSAULT FALCON 2000EX
6.2
7.7
31.2
1028
10
42200
6510
3878
482
2
PW308C
DASSAULT FALCON 2000EX EASy
6.2
7.7
31.2
1028
10
42200
6510
3878
482
2
PW308C
DASSAULT FALCON 2000DX
6.2
7.7
31.2
1028
10
41000
6510
3378
482
2
PW308C
DASSAULT FALCON 2000LX
6.2
7.7
31.2
1028
10
42800
5200
3891
478
2
PW308C
DASSAULT FALCON 2000LXS
6.2
7.7
31.2
1028
10
42800
4950
3803
478
2
PW308C
DASSAULT FALCON 2000S
6.2
7.7
31.2
1028
10
41000
4950
3371
479
2
PW308C
DASSAULT FALCON 900C
6.2
7.7
33.2
1270
12
45500
2945
3450
500
3
TFE 731-5BR-1C
DASSAULT FALCON 900EX
6.2
7.7
33.2
1270
12
48300
6164
4500
482
3
TFE 731-60
DASSAULT FALCON 900EX EASy
6.2
7.7
33.2
1270
12
49000
6164
4500
482
3
TFE 731-60
ENGINE MODEL
CABIN VOLUME (Cuft)
7.17
MAX PAYLOAD (lbs)
CABIN LENGTH (ft)
6.08
MAX TAKEOFF (lbs)
CABIN WIDTH (ft)
BOMBARDIER CHALLENGER 300
PASS SEATS TYPICAL
CABIN HEIGHT (ft)
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Airplane performance and specification numbers can vary depending on how they are measured. Please note this data should be used as a guide only, and not the basis on which buying decisions are taken.
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CABIN VOLUME (Cuft)
PASS SEATS TYPICAL
MAX TAKEOFF (lbs)
MAX PAYLOAD (lbs)
FERRY RANGE-nm
MAX SPEED (ktas)
NUMBER OF ENGINES
6.2
7.7
33.2
1270
12
46700
5064
4100
482
3
TFE 731-60
DASSAULT FALCON 900LX
6.2
7.7
33.2
1270
12
49000
4114
4800
482
3
TFE 731-60
DASSAULT FALCON 7X
6.2
7.7
39.1
1506
12
70000
4400
5466
492
3
PW307A
DASSAULT FALCON 8X
6.2
7.7
42.7
1695
12
73000
4900
6290
-
3
PW307D
EMBRAER LEGACY 600
6
6.92
49.8
1656
13
49604
4855
3091
455
2
AE 3007A1E
EMBRAER LEGACY 650
6
6.92
49.8
1656
13
53572
4938
3661
459
2
AE 3007A2
EMBRAER LEGACY 650E
6
6.92
49.8
1656
13
53572
4938
3661
459
2
AE 3007A2
GULFSTREAM G200
6.25
7.2
24.5
869
8
35450
4050
3130
470
2
PW306A
GULFSTREAM G280
6.25
7.2
32.25
888
8
39600
4050
3590
482
2
HTF7250G
GULFSTREAM G300
6.2
7.3
45.1
1658
13
72000
5300
3486
500
2
TAY 611-8
GULFSTREAM G350
6.2
7.3
45.1
1658
14
70900
6000
3680
500
2
TAY 611-8C
GULFSTREAM G IV SP
6.2
7.3
45.1
1658
13
74600
5300
3880
500
2
TAY 611-8
GULFSTREAM G400
6.2
7.3
45.1
1658
13
74600
5300
3880
500
2
TAY 611-8
GULFSTREAM G450
6.2
7.3
45.1
1658
14
74600
6000
4070
500
2
TAY 611-8C
GULFSTREAM G V
6.2
7.3
50.1
1812
13
90500
6100
6250
508
2
BR 710-A1-10
GULFSTREAM G500
6.3
7.9
47.58
1715
8
79600
5250
5135
516
2
PW815GA
GULFSTREAM G550
6.2
7.3
50.1
1812
18
91000
6600
6360
508
2
BR 710-C4-11
GULFSTREAM G650
6.4
8.5
53.6
2421
18
99600
6500
6520
516
2
BR 725 A1-12
GULFSTREAM G650ER
6.4
8.5
53.6
2421
18
103600
6500
7095
516
2
BR 725 A1-12
ENGINE MODEL
CABIN LENGTH (ft)
DASSAULT FALCON 900DX
(NBAA IFR FUEL RESERVES)
CABIN WIDTH (ft)
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CABIN HEIGHT (ft)
SPECIFICATIONS - LARGE JETS
Airplane performance and specification numbers can vary depending on how they are measured. Please note this data should be used as a guide only, and not the basis on which buying decisions are taken.
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ACTIONABLE INTELLIGENCE FOR COMPLETIONS
THIS MONTH Completing a State BBJ Aesthetics vs Engineering in Aircraft Completions How to Choose the Right Completion Center www.AVBUYER.com
Completions 1 Jan20.qxp_Finance 16/12/2019 15:55 Page 1
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COMPLETING A STATE BBJ 94 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
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It’s rare to guide a customer from project conception through to product delivery, but that’s exactly what London-based consultant ALTEA did for The Government of the Netherlands with its new Boeing BBJ, PH-GOV recently.
Here’s their story….
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lthough PH-GOV was delivered in June 2019, the project was conceived six years earlier in the summer of 2013. ALTEA, a Business Aviation consultancy founded by Andrew Butler, Robin Dunlop and Jean Semiramoth, was initially responsible for mission-profiling their customer’s needs, as the Government’s nearly 20-year-old Fokker 70 was due for phase-out with the incumbent operator in July 2017 (later extended to July 2018). “We knew the customer required hands-on help and we knew our team had all the requisite skills,” Dunlop – who leads ALTEA’s in-house design team – recalls. “At that time, we thought ALTEA might have the opportunity to begin the process for them and perhaps become further involved. I don’t think we ever imagined we would be central in every stage of the process through to final delivery.” ‘Every stage’ of the process encompassed mission profile, aircraft purchase, green aircraft production oversight, aircraft interior and exterior design, aircraft completion management and final aircraft delivery and handover.
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Given ALTEA and the Government were required to follow rigorous European procurement rules to enable the purchase, this brought a further complex element into a project that was already tightly scrutinized, given funds were provided through the public purse.
Intense Scrutiny
Semiramoth, ALTEA’s project manager throughout, explains, “Everything that we did was scrutinized intensely, not only by our customer but also by the Dutch Parliament and to a degree the media.” (Given ALTEA also successfully organized the sale of the much-loved Fokker 70 aircraft PHKBX, the media’s interest was palpable.) Of course, this process came at the same time as specifying contractual terms for the new aircraft. And in the background, the design requirement was being run past Dunlop and his team. “We had all these elements running in parallel against a backdrop of scrutiny that forced the team to totally focus on quality and on-time delivery without any flamboyance, given the delicate nature of the purchase,” Dunlop recalls.
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Fulfilling the Mission Requirement
The objective was to deliver a machine that was capable of fulfilling the required mission, namely to carry 28 passengers and crew some 12 hours non-stop – but also that could be used by various Government departments as a flying office whilst accommodating the needs of Royal family members for State visits. “Balancing all of these elements was complex but something which we all relished given the high-profile nature of the project,” Semiramoth recounts. The aircraft’s interior was completed by Fokker Techniek in the Netherlands – another twist to the story for the project, Dunlop explains. “The pressures on us and the completion center to complete a quality product on time was immense,” he says.
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“Add to this the aircraft was being completed by a company ‘in-country’, this was another level of intensity for us all. Whilst our customer was always accommodating but firm, we, along with Fokker Techniek, knew that any major issue would be public knowledge – and that in itself was a reason to deliver on time, within budget.”
Managing Multiple Suppliers
The process of completion at Fokker Techniek, a center nominated by Boeing BBJ in this turn-key acquisition, is a little different from many other completion centers in that Fokker is almost completely reliant on an exterior supply chain that inevitably needs to be closely managed. On this occasion the outside suppliers
“Balancing all of these elements was complex but something which we all relished given the high-profile nature of the project.” Jean Semiramoth ALTEA
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Successful Delivery
were responsible for galleys, cabin lining, all major monuments, seating, IFE, SATCOM and many of the soft goods. And each, of course, was responsible for delivering to specification. The delivery of an aircraft can be compromised if any supplier falls behind schedule or delivers a sub-standard product. “Most of our team were on the road throughout completion, given the suppliers to PH-GOV were spread far and wide,” Dunlop explains. “For example, cabinetry was done in Austria at Fuchs, whilst
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IFE was supplied by Astronics in Seattle, Washington. “Our schedule was stretched a little, but we’re happy to report all major risks to schedule and budget were mitigated and our customer was not compromised in terms of quality. “That is probably the greatest risk when completing aircraft interiors: When suppliers begin to rush their products to meet the schedule, then inevitably quality suffers. That was something we guarded against at every step throughout this project.”
The process, from inception of the aircraft into Fokker through to its completed delivery to the client, lasted just over 12 months, and the aircraft is now fully operational with the national flag carrier KLM; another process organized by ALTEA given it was required to oversee the handover by the Government to the operator. All in all this process-driven project (with its peculiarities of EU tender, turnkey and public scrutiny) was a success, much of it down to ALTEA conducting the collaborative team of Boeing BBJ, Fokker Techniek and its enthusiastic supply chain with the customer. “Was the process as smooth and as simple as appears?,” Dunlop muses. “Absolutely not – there are always hurdles and major challenges. Would we do it all again? Absolutely – and we’d happily all start over tomorrow.” T More information from www.altea-aero.com
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D U NC AN AV I AT I O Nâ&#x20AC;&#x2122; S IN T E RI O R CO M P L E T I O N S E X PE R TS CO L L AB O RAT E D ON T H E I N T E R I O R O F T H IS 201 0 G U L F ST RE A M GV- S P. T HE CO M P L E T E LY R E F U RB I S HE D I NT E R I O R IS H IGH L I G HT E D BY A C U STO M STANDA LONE CR E DE N Z A W IT H A R O U N DE D WAT E R FAL L E DG E A ND AU TOM AT E D F L I P - U P MONITO R DE S I G NE D BY T H E CAB I N E T S HO P A ND E NG I NE E RI N G . T HE A IRC R A F T CA M E I N F O R A 9 6 - M O NT H AI RF R AM E IN S PE C T I O N, AV I O NI CS U PGR A DE S T HAT IN C LU D E D A CM S , L E D L IGH T I N G , G O G O AVA NCE L 5 CONNE CT I V I T Y, CO MPLE T E I N T E R I O R A ND PA I N T.
www.DuncanAviation.aero/GV-SP Aircraft Acquisition & Consignment | Airframe Maintenance | Avionics Installation Emergency Assistance (AOG) | Engine & APU | Engineering & Certification Services | FBO Services Government & Special Programs | Paint & Interior | Parts, Avionics, Instruments & Accessories
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COMPLETIONS
What Should Guide Your Aircraft Completion Choices? Thousands of choices face operators seeking to equip a new jet. With so many options, how can you get your aircraft interior
right? Rebecca Applegarth asks Gulfstream and Textron for tipsâ&#x20AC;¦
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AVBUYER.com Rebecca Applegarth has been brought up around aviation for as long as she can remember. As a current PPL she is developing her passion for writing and flying as an Aviation Journalist on the AvBuyer team.
brand-new jet, fresh off the production line, offers a blank canvas as it heads into the completion shop. So, where does an operator even begin on a cabin completion project? “The first question we ask is, ‘how will the aircraft be utilized?’,” Textron Aviation advises. “Everything else will fall into place from there. “Aircraft mission will ultimately tell the designer what materials will work best for the customer and their specific needs.” When thinking about mission profile, obvious questions might include how many passengers the cabin will accommodate, and the duration of a typical flight. Multiple aspects of the completion
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will be determined by the practical needs of each individual operator. Ultra-Long-Range Jets will require a more specific focus on the seating comfort/sleep facilities and practicality for the flight’s duration. Like Textron, Gulfstream suggests operators keep their typical mission in mind when selecting an interior, and selecting colors, noting, “A soft palette works well for long-endurance flights.” Yet choosing the right interior is not entirely about the practical needs of the customer, Textron notes. “Customers [need] to love their interior. Some of that involves leading with their heart.” Being practical doesn’t always mean the cabin cannot be aesthetically pleasing at the same time.
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“Any aircraft can be personalized in any way a customer would like, as long as it can be certified for flight.” How to Select the Best Materials
With so much choice in today’s aircraft interiors marketplace, deciding what’s most practical can be challenging. Once again, mission profile will play a role. For example, if the plan is to place the aircraft on a Part 135 charter certificate, hard-wearing materials are advised. For corporate or private operations, Gulfstream encourages clients to choose interior elements that reflect their personal and professional brands as well as the aesthetics that make them feel at home in their aircraft. In fact, Gulfstream’s interior design team works closely with clients to get to know them and their business needs, their design preferences and mission requirements before even moving to the materials selection process, ensuring they’re able to help them select the best materials for their operations and tastes. “Any aircraft can be personalized in any way a customer would like, as long as it can be certified for flight,” Gulfstream adds. 104 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
Completion Elements Worth Splashing Out On
While most aircraft completions are driven (to one degree or another) by cost, there are aspects that should never be scrimped on. According to Textron, “safety and comfort should never be compromised.” And while it’s always sensible to work within a budget, ultimately operators need to create an interior they – and the passengers who will utilize the jet most often – can be happy with for at least the mid-term future. “Bespoke, customized interior design is part of the Gulfstream ownership experience,” Gulfstream explains. “All the finishes, upholstery and furniture are tailored for each client out of one-of-a-kind materials, from the finest leather to exclusive carpeting and exotic veneers sourced from around the world.” www.AVBUYER.com
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Cabin Completions with Resale Value
Of course, it’s important to keep the mid- to longterm in mind when planning your completion. Someday you are likely to sell your aircraft, so choosing an interior that has a wider appeal will benefit you. When buying a used jet, people will still be looking for the same amenities that you looked for, in order to meet their own travel needs. Textron advises that customers who are concerned with resale should consider the color pallet of the aircraft. “Typically, more timeless and neutral interior colors are popular with the general population,” the company observes. But toning down the interior doesn’t have to mean not personalizing it at all. “Incorporating personal or professional design accents subtly into the overall interior scheme is beneficial for resale,” Gulfstream suggests.
“That includes using brighter colors in ways that surprise and delight the passenger, such as the piping on the seats. Interior embellishments can be inlaid into the veneer of table-tops, to impress without overwhelming.” And Gulfstream again advises that operators should consider their mission requirements when thinking about resale. “Fabric inserts in the seating, for example, will not endure as long as leather inserts on aircraft that are used for ultra-long-range flights,” the company notes. “The breathability of perforated inserts is also ideal for passengers who sit for many hours at one time.”
Get the Right Advice
With so many contributing factors that can influence your choice of aircraft interior, you’re advised to seek the help of the aircraft manufacturer, an independent consultant, and the completion shop that will carry out the project. Their input will give you a fuller picture of the complexities and cost implications of your choices. With the right team, you will greatly enhance the chance of creating a cabin you’ll enjoy for years to come. ❙ More information from www.gulfstream.com or https://txtav.com
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NAFA December.qxp_Layout 1 20/11/2019 09:49 Page 1
Join us in Napa Valley for NAFA’s 49th annual conference. Register now at www.nafa.aero Where the industry gathers to connect the people and ideas that finance the world’s business and general aviation aircraft.
Keynote Speaker Dawn Hudson
Widely recognized as one of the most important female business executives of the past decade, Dawn Hudson is the former Chief Marketing Officer at the National Football League and the former President and CEO of Pepsi Cola North America. She has led an impressive career spanning high-level posts in media, retail, consumer goods, consulting, and healthcare at some of the biggest corporations in the world.
Hudson’s work has been focused on revolutionizing and strengthening brands’ positioning and marketing, tapping into culture change as fuel for innovative business strategies, and championing inclusive leadership and diversity. She has been recognized as the “Most Vital Leader in Tech, Media, and Marketing” by AdWeek – topping a list of 50 industry titans – and twice as one of Fortune magazine’s “50 Most Powerful Women in Business.”
Some topics of importance covered at our event • State of Aviation Insurance • Detecting Fraud in Aircraft Transactions • The Future of Aviation and Urban Mobility • Aviation Industry Townhall • New Aircraft Showcase • Preowned Market Update • Desktop Appraisal Best Practices
Also included in our annual conference: • One Extra Day for Additional Content • Annual Golf Tounament • Wine Tasting Activities • Networking Find out more about the advantages of membership at www.nafa.aero. 410-571-1740 | info@nafa.aero
Aircraft we built. Expertise you trust.
WE SELL MORE PRE-OWNED THAN ANYONE. Contact a Textron Aviation representative to learn more. U.S. + 1 . 8 4 4 . 4 4 .T X TAV
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INTERNATIONAL + 1 . 3 1 6 . 5 1 7. 8 2 7 0
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T X TAV. C O M / P R E OW N E D
© 2019 Textron Aviation Inc. All rights reserved.
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Gerrard Cowan is a freelance journalist who focuses on aerospace, defence and finance. He can be found on Twitter @GerrardCowan
BBJ 777-8 and Interior, courtesy of The Boeing Company Interior design by Greenpoint Technologies
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How Aesthetics & Engineering Blend in Aircraft Completions Cabin design for business jets is complex.
Completion centers must satisfy their clients’
aesthetic wishes but meet stringent safety and
functionality requirements. How is the right balance achieved? Gerrard Cowan asks the industry…
esigning a business jet interior “absolutely requires the right balance of sophistication, durability, safety and excellent service”, according to Annika Wicklund, design director at Greenpoint Technologies, a business jet completion center. The company works with its customers to understand their aesthetic and functional requests while at the same time working with the flight crew to understand the aircraft’s operational requirements. “From there it is a fun dance to unite the two,” she adds, with many of the same challenges associated with any design project – notably when it comes to storage space. The design process begins with an ergonomic study that informs the floorplan layout, ensuring it’s “designed to meet the customer’s desires and specification requirements,” Wicklund explains. Next, designers define and detail furniture standards, then model and sketch all interior elements. Lighting and soft materials such as fabrics, colours and textures are selected to finish the interior. Greenpoint’s design illustrators use various pieces of software to visualize the design.
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Where Engineering Stops & Aesthetics Begin
Cabin designs always address the necessary regulations, safety and functionality demands, says Tobias Laps, senior vice president – sales at Comlux, which conducts a range of aviation work, including business jet and VIP completions (it currently has four ACJ320neo completion projects in work or on order). But beyond satisfying these requirements, the final design is up to the client. Sometimes a design may be aesthetically pleasing, but could create certain practical difficulties onboard the aircraft, though without threatening safety. www.AVBUYER.com
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“ Apart from safety, there needs to be a balanced design that matches functionality and design requirements, with weight and available space always being issues.” “We may caution the client on this, but in the end, we can only give recommendations,” Laps says. “Owners might have very particular interests, and we will respect that.” There is a constant back and forth with clients during the design phase, Laps explains. Like other completion centers, Comlux has its own in-house design department, which often works with external designers appointed by the client. Typically, the process begins with a series of questions looking at the need for the aircraft; the number of people who will be travelling; the number of seats or bedrooms that will be required, and so on. This gives an initial idea of what needs to be included in the cabin layout. “There’s then an interactive process where we get feedback on the proposals that we provide,” he adds. The second element focuses on aesthetics – the materials that will be used, for example. This is often based on direct communication with the owner and can be inspired by a private home that he or she likes, or a hotel suite – even a yacht.
Function, Appearance & Quality
Airworthiness is the prime concern, according to a spokesperson for GKN Fokker Techniek. Apart from safety, there needs to be a balanced design that matches functionality and design requirements, with weight and available space 110 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
always being issues. “One of our key objectives and challenges is therefore to translate the customer’s wishes and required lifestyle into a unique, safe, airworthy and certifiable VIP aircraft,” the spokesperson says. During the design process, the company spends a great deal of time with the client developing a clear definition of the desired result, in terms of function, appearance and quality. Fokker provides renderings, animations, functional descriptions of systems and cabinetry, and more, with the aim of “bringing the design alive for the customer”. In some cases, multiple parties are involved, including designers, consultants and aircraft manufacturers, according to the spokesperson.
Every Platform Different
The process changes depending on the aircraft in question, Laps says. There are two basic categories. The first is a bespoke business jet, which comes with a VIP cabin. In this case, while there can be a need to make changes in certain materials or in the seating arrangements, typically the layout can stay in place, though there are exceptions. The second category is the adaptation of other aircraft, often larger platforms, where there’s a “blank canvass” and the changes go much further, often reworking the layout of the interior
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COMPLETIONS
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Photo courtesy of AMAC Aerospace
significantly or creating a completely new one. Every platform of every OEM is different, says Waleed Muhiddin, director of business development and marketing at AMAC Aerospace. More important than the brand is the category: whether it is a narrow or wide-body aircraft. “A wide-body aircraft definitely needs a much broader and deeper approach of design, engineering and craftsmanship,” Muhiddin says. There has been a “sound recovery” in the widebody completion market in recent years, he adds, with the company currently working on two such projects (one ACJ320neo for Acropolis Aviation, and a Boeing 747-8i that will serve as a head-ofstate aircraft for an undisclosed customer). The latter project underlines the balance required between aesthetics and functionality, Muhiddin highlights. The cabin is decorated with the highest levels of custom furniture, exotic materials and bespoke artwork, while “the design supports an easy flow of passenger mobility throughout the cabin and plenty of storage space. “For extra comfort we have built in additional water tanks, showers, beds, galleys and an overhead storage unit loft.”
Personal and Cultural Preferences
While different aviation authorities often have different requirements, there’s a lot of similarity today between regions, Laps says. However, taste
or style does change by region, with customers in the Middle East often selecting different types of designs to those in North America or Asia. However, in an increasingly connected world, different types of styles and tastes spread quickly, “resulting in an ever-changing situation”, according to the Fokker spokesperson, who adds that it’s important to “always focus on the type of customer that’s in front of you.” Cabin design can be very personal, with different customers likely to opt for very different styles. This can affect the resale value, says Laps, particularly if a cabin has been very heavily personalized. “There are some aircraft interiors that are so particular that probably only a few people in the world will like them,” he says. “There can be a significant impact on the resale value, depending on the choices you make when you do the interior the first time.” More mainstream choices will likely appeal to a larger group of potential buyers, and this could be a particular focus for owners who only want to keep their aircraft for two or three years. Still, customers acquiring business jets are naturally extremely wealthy, and will wish to design the cabins as they choose. “In the end, that’s one of the big selling factors of having individual cabins – you can design it to your own standards,” Laps concludes. ❙
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How to Choose the Right Completion Center
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Dave Higdon is a highly respected aviation journalist who has covered all aspects of civil aviation over the past 36 years. Based in Wichita, he has several thousand flight hours, and has piloted pretty much everything from foot-launched wings to combat jets. Contact him via Dave@avbuyer.com
There are several potential centers who could undertake your new jet’s cabin completion – but which is the best for you? Dave Higdon highlights some of the key considerations when making your choice… ou can't judge a business aircraft without experiencing the interior from the intended passengers' perspective. The nap of carpeting; the glittering brightworks and polished grain of the woodworks; the suppleness of the upholstered surfaces - even the cabin's aroma triggers a sense of luxury and comfort. Of course, stimulating the senses isn't the ultimate quality that leads owners and operators to select an interior (though it does play an important role). Performance is ultimately the key. Every aircraft offers its own version of convenient transportation for its cabin occupants. But not all provide the accouterments needed to support businesspeople trying to keep their travel days as productive and efficient as possible while in transit. Gaining those benefits doesn’t happen by accident, but by design; the deliberate, concerted efforts of a completion team working to translate the owner's expressed needs and interests into a comfortable, practical space supporting those needs. And achieving the desired outcome means selecting a completion center that is well matched to both the machine and its owner's missions. Here, we specifically address the main cabin from aft of the cockpit bulkhead to the furthest-aft space of the fuselage. On new production business aircraft, in most cases the factory defines the flight deck, the choice of vendors, systems and the cockpit layout. But that leaves the majority of the plane's interior – and its exterior – ripe for customization. We spoke with a variety of interior shops and completion centers to get their takes on how to ensure the best possible outcome from the work of completing a new business jet. The following is a culmination of those discussions. ‘Green’ aircraft move into the hands of the completions center long before the final hand-off
Y
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to the owner; time that reflects the scope and quality of the work ahead. Consider, for example, all the decisions facing an owner in the process of informing the completion goals: • • • • • •
Input in the design of the cabin layout; Selecting seats/seat upholstery, carpets, sidewall treatments and other furnishings; Defining what’s desired from the connectivity and entertainment systems; Selecting the lighting; Galley and lavatory fixtures; Exterior paint (both livery design and color combinations).
Opportunities for customization of smaller aircraft interiors tend to be more limited with the aircraft OEM often creating packages of standard interior layouts and configurations, each with options for selecting colors of fabrics, carpets, upholstery and (sometimes) side and overhead panels – all factory finished.
Who Should Undertake Your Cabin Completion?
One school of thought favors using the aircraft OEM to handle the completion work. As one interior-design engineer asked, “Who knows the ins and outs of that new jet better than the company responsible for designing, testing and winning approval for the aircraft, and now closing the circle with serial production?” The OEM will have a head-start on the knowledge and documentation of the aircraft that’s needed to win approval of the interior package from the regulatory authorities. Nevertheless, approved service centers offer another source of valuable expertise on specific makes and models. And many an independent shop that’s experienced in the make and type can also offer a potentially good fit for a completion job.
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“...the completion shop may have the aircraft for several months – even 18 months or two years.” Above all else, look for experience in the make and model requiring completion, along with demonstrable expertise in designing, making and installing an interior package for the aircraft.
Who Will Coordinate Your Cabin Completion?
Business Aviation offers a wide variety of specialty shops, and the completions sector is one of them. Companies exist who specialize in elements of completion work. Some make the furniture, others manufacture the seats and divans, still others the galleys or entertainment/connectivity systems. Many other companies cover the entire spectrum, handling the design, sourcing and installation of interior packages. Not needing to move the airplane to different vendors has its advantages – including less wear and tear, more time-efficiency, and fewer ferry permits. Some capable shops excel at serving as a prime contractor, handling design and installation, while contracting with other vendors for certain elements of the project. For example, if the owner favors a specific seat design that’s available only from a specialty manufacturer, nothing prevents the client from splitting up the project. Regardless, someone with knowledge and experience should oversee and coordinate the overall project to ensure compatibility with products from other vendors and help avoid the possibility of overlooked paperwork and approvals. 116 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
What’s the Timing and Scheduling of a Completion Project?
Arguably the most volatile aspect of selecting a completion job has to do with scheduling and coordinating the timing of various elements of the work. Selecting and scheduling the completion work should ideally begin when the purchase contract is signed. Having a delivery date for the green aircraft some months or even years into the future gets you to the starting line. Upon acceptance of the green aircraft, the clock starts to run on the completion work. Depending on the aircraft size and the complexity of the interior and paint packages, the completion shop may have the aircraft for several months – even 18 months or two years. Finally, it’s better having the completion package wait on the aircraft's delivery. Making the furniture, building the seats, the upholstery work, interior panels and lighting, the IFE and IFC hardware's installation all have their own lead times and position in the installation process, and this must be well thought through to avoid unnecessary delays. Ultimately, you’ll find expertise, knowledge and talent are all elements to weigh when selecting a completion center for your next new jet project. If you keep these at the core of your planning, you’ll be well placed to select the best shop to undertake your next completion project. ❙ www.AVBUYER.com
Altea January.qxp_Layout 1 17/12/2019 15:17 Page 1
tailored advice for discerning customers
Acquisition & Completion Management Interior & Exterior Design | Remarketing & Sales Asset Management Services | Market Intelligence & Analysis Finance Procurement & Structuring andrew.butler@altea-aero.com +44 7880 717362 altea-aero.com
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OEM Bites
Bombardier will move final assembly of the Global family aircraft from Toronto Downsview Airport to Toronto Pearson International in 2023. The OEM signed a long-term lease with the Greater Toronto Airports Authority to build a one-million-sq-ft Global Manufacturing Centre on a 41-acre lot. www.businessaircraft.bombardier.com
Pilatus Delivers 1,700th PC-12 Pilatus handed over a brand-new ‘milestone’ PC-12 to long-time fleet customer Jetfly Aviation. Demand remains strong for the single-engine turboprop as the 1,700th PC-12 enters service…
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he worldwide PC-12 fleet has already clocked up over seven million hours, and a wide variety of sectors, including businesses, private individuals, charter operations and medevac organizations have opted for the single-engine turboprop. As in the past, Pilatus expects deliveries of the PC-12 to exceed 80 by the end of 2019. And looking ahead, the ongoing success of the PC-12 looks assured after Pilatus introduced a major upgrade to the model with the introduction of the PC-12 NGX in October. In a recent interview with AvBuyer.com, Edwin Brenninkmeyer, founder and CEO of Oriens Aviation, exclusive distributor for the British Isles for the Swiss aircraft OEM since 2015 said, “One of Pilatus’ many strengths with the PC-12 is a thoroughly
proven product. As a company, Pilatus is a leader in continuous innovation, Swiss quality and retaining the best relationship with its customers. “With the PC-12 NGX, Pilatus is combining its core strengths to assure continued dominance in a segment which it pioneered; a segment-leadership it has no plans to surrender.” Speaking about the market impact of the PC-12 NGX, he added, “…there are hardly any factory-new PC-12 NGs remaining on the worldwide market as production transitions away from NG models to exclusively NGX models - and orders for the NGX are already being fulfilled in large quantities.” More information from www.pilatus-aircraft.com
Understanding the Business Aviation Market - with
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Embraer’s new super-midsize Praetor 600, which entered service in June, is single-handedly responsible for the eight-unit hike in deliveries for the OEM between January and September. A further seven units are scheduled for delivery in Q4, putting Embraer on track to meet its 2019 delivery guidance of between 90 and 110 bizjets. https://executive.embraer.com
Epic Aircraft’s E1000 all carbon fiber aircraft design has been certified, clearing the way for deliveries in the US. The Epic E1000 is based on the company’s experimental Epic LT model which was introduced to the market in 2005 through an ownerassist build program based at Epic headquarters. www.epicaircraft.com
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Boutsen January.qxp_Layout 1 17/12/2019 12:23 Page 1
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2015 LINEAGE 1000E - MSN 632
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2011 GULFSTREAM G550 - MSN 5302
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2017 CHALLENGER 350 - MSN 20670
1998 DASSAULT FALCON 50 - MSN 185
2007 PREMIER 1A - MSN RB-196
1999 SOCATA TBM 700A - MSN 141
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OEM Bites
Leonardo & Falcon Aviation Services’ Heliport Concept
Gulfstream recently announced the G500 has been delivered to an undisclosed western-Europe-based charter operator. The G500 earned certification from EASA last October. The G500 can travel 4,400nm at Mach 0.90 and 5,200nm at Mach 0.85. www.gulfstream.com
At the recent Dubai Air Show, Leonardo, in collaboration with Falcon Aviation Services, released its concept for a ‘rotorcraft dedicated’ terminal. ccording to Leonardo, the new terminal initiative is to meet “the growing demands for sustainable and modern vertical lift mobility” and enable “greater access to urban areas”. Built specifically for VTOL aircraft, the terminal concept combines a helipad, lounge and show room into a single heliport, built to be placed in densely populated urban areas. Leonardo envisions that the terminal will support both point-to-point travel within cities as well as connections between them.
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The terminal is made of recyclable materials and can even be moved between urban locations, according to flight demands. Alongside this new vision for urban air transport infrastructure, Leonardo is developing the AW609 tiltrotor. Once completed, the AW609 will be the world’s fastest commercial rotorcraft. Leonardo is currently working with the FAA on certification and expects to be able to begin commercial flights in 2020. More information from www.leonardocompany.com or www.falconaviation.ae
Piaggio Aerospace sold its first Canadian-registered Avanti Evo to Centoco Holding Corp. of Windsor, Ontario. The aircraft was produced in 2018 and used as a demonstrator in the US. Under the sales agreement, Piaggio will keep an option to lease-back the Evo, which joins a fleet of seven earlier model Piaggio Avantis that operate in the country. http://www.piaggioaerospace.it/
Textron Aviation introduced a new utility nose option for the Beechcraft King Air 350 turboprop. The new nose adds 12 cubic feet of storage space capable of holding up to 250 pounds of additional payload. It can be used on King Air 350 variants including the 350C cargo version and 350ER extended range model and is FAA-certified and compatible with both the PT6A-60A and PT6A-67A engines. www.txtav.com
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CUSTOMER SERVICE
VISION TO SEE INSIDE YOUR ENGINES. INSIGHT TO KEEP THEM FLYING. INNOVATIVE DIGITAL SOLUTIONS TO KEEP YOU MOVING FORWARD. Pratt & Whitney’s advanced service technology provides a complete, on-wing view of your fleet from the inside out. Our FAST™ solution captures full-flight data to deliver predictive and preventive insights, empowering you to plan for maintenance and increase your fleet’s availability. It helps you see the small details — as well as the bigger picture.
EXPLORE OUR DIGITAL SOLUTIONS AT PWC.CA
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COMMUNITY
Denise Alonso
Casey Crafton
AVBUYER.com Denise Alonso has joined the Southern Cross Aircraft sales team to represent the company’s sales activity in Brazil.
managing partner at QS Partners, and replaces outgoing chairman Brian Proctor, Mente Group president and CEO.
Casey Crafton, A&P mechanic, is the latest addition to Guardian Jet’s aircraft brokerage in-house maintenance team, where he will perform on-site aircraft evaluations and oversee aircraft pre-buy inspections.
Julien Nargeot has been appointed regional vice president of sales for Southeast Asia, Australia and New Zealand, on behalf of Gulfstream, aided by Brian McCarthy as regional sales manager in the region.
John Daut has been appointed vice president of sales for the New York area and East Coast of the US on behalf of JetHQ.
Michal Pazourek, director of ground operations at ABS Jets, was named in the NBAA Top 40 Under 40 young professionals who are making their mark in the BizAv industry, in terms of innovative spirit, character attributes and dedication.
Tim Fagan becomes chief of industrial design at Aerion. Fagan will steer the interior design of the Mach 1.4 AS2 supersonic business jet. Paul Kirby was named the International Aircraft Dealers Association’s new chairman of the board for 2020-2021. Kirby is
Brian McCarthy
Julien Nargeot
David Paddock of Jet Aviation will serve as Chairman of GAMA in 2020, while Nicolas Chabbert of Daher will serve as GAMA's Vice Chairman. Michal Pazourek
Paul Kirby
Bank OZK has added four team members to its Business Aviation group. Among the additions are: •
Craig Bowers, vice president of aviation, Western Region (based in San Francisco, California).
•
Robert Hollander, vice president of aviation (based in Bethesda, Maryland).
• •
Jacqueline B. Rambacal, vice president of aviation (based in Bank OZK’s office in Winston-Salem, North Carolina). Perry Bridges, vice president of aviation (based in Chicago, Illinois).
BizAv Events 2020 Principles of Aircraft Valuations Jan 10 Fort Lauderdale, FL, USA www. aeropodium.com
Air Ops Europe 20 Feb 4 – 5 Brussels, Belgium www.ebaa.org
NBAA: Regional Forum Mar 5 San Jose, CA, USA www.nbaa.org
AEA Int’l Convention & Trade Show Mar 24 – 27 Nashville, TN, USA www.aea.net
Transformative Vertical Flight 2020 Jan 21 – 23 San Jose, CA, USA www.vtol.org
SETops & Small Airfield Conference Feb 27 London, UK www.emeraldmedia.co.uk
NBAA: Schedulers & Dispatchers Conf Mar 10 – 13 Charlotte, NC, USA www. nbaa.org
Aircraft Interiors Expo Mar 31 – Apr 2 Hamburg, Germany www.aircraftinteriorsexpo.com
HAI: Heli-Expo Jan 27 – 30 Anaheim, CA, USA www.heliexpo.rotor.org
NBAA: Leadership Conference Feb 24 – 26 Orlando, FL, USA www.nbaa.org
European Corporate Aviation Summit Mar 13 Malta www. aeropodium.com
Sun-n-Fun Int’l Fly-In & Expo Mar 31 – Apr 5 Lakeland, FL, USA www.sun-n-fun.org
NBAA: Regional Forum Jan 29 West Palm Beach, FL, USA www.nbaa.org
Aero Expo Mar 3 - 5 Toluca, Mexico www.aeroexpo,com.mx
NBAA: Int’l Operators Conference Mar 16 – 19 Charlotte, NC, USA www.nbaa.org
AERO Friedrichschafen Apr 1 - 4 Friedrichschafen, Germany www.aero-expo.com
Corporate Jet Investor London Feb 3 -4 London, UK www.corporatejetinvestor.com
BBGA Annual Conference Mar 5 Luton, UK www.bbga.aero
NBAA: Business Aircraft Finance Conf Mar 22 - 24 Amelia Island, FL, USA www.nbaa.org
ABACE: Apr 21- 23 Shanghai, China www.nbaa.org T
122 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
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Aradian December.qxp 20/11/2019 09:37 Page 1
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Products & Services January.qxp_Layout 1 18/12/2019 16:03 Page 1
PRODUCTS & SERVICES Bombardier’s Environment Commitment Bombardier announced recently that it has received an inaugural shipment of sustainable aviation fuel (SAF) at its Montreal facilities, further reinforcing the company’s commitment to sustainable flying. This step is the first in the company’s plan to secure long-term partnerships with fuel suppliers to deploy SAF to all of its facilities as worldwide supply becomes more readily available. “We stand behind our commitment to help promote the increased use of SAF throughout the industry,” said David
Coleal, President, Bombardier Aviation. “Today, we are proud to offer it for the first time at one of our Canadian facilities and it’s only the beginning. Bombardier is working toward ensuring that the use of these fuels becomes a standard in our day-to-day operations as we do our part to reduce CO2 emissions worldwide and meet the longstanding industry climate pledge.” “At Bombardier, we build our aircraft with the future in mind,” added Coleal. “For example, the new Rolls-Royce Pearl 15 engine, purpose-built for the Global 5500 and Global 6500 business jets, make the aircraft cleaner and more efficient, with an up to 13-per-cent fuel burn advantage, contributing to highly favorable operating costs. The GE Passport engine, designed specifically for the award-winning Global 7500 aircraft, powers it to speeds of up to Mach 0.925 with dependable reliability and greater fuel efficiency.”
www.aero.bombardier.com Air BP Introduces Digital Airfield
Air BP recently introduced its digital Airfield Automation technology at Emirates Flight Training Academy (EFTA), located at Al Maktoum International Airport . This is the first location in the region to benefit from the new technology which aims to enhance safety, reliability and compliance in airport fuelling operations. Established by Emirates airline to train pilots, EFTA opened in December 2017 and currently offers a fleet of 22 Cirrus SR22 training aircraft and five Embraer Phenom 100EV business jets. Air BP was the first to fuel EFTA’s aircraft when it fuelled two Cirrus SR22 training aircraft as part of its contract to supply the new Academy with Avgas www.bp.com
AMAC Sees Growth in Completions
AMAC Aerospace has seen a recent increase of maintenance and completions projects on aircraft ranging from Airbus and Boeing narrow-body aircraft to Bombardier Globals, the Basel, Switzerland-based MRO provider and completions center. In all, the company has secured work on four privatelyowned Boeing 737s, three Airbus A319s, and a Bombardier Global 5000 and 6000 124 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
www.amacaerospace.com
AMSTAT
AMSTAT has released a new customizable dashboard for both Premier and Connect users. The updated dashboard is widgetbased, allowing users to pick and choose the information they want to see. Familiar information such as the For Sale Summary and Fleet Quickview have been updated to allow users to have multiple widgets, each showing different makes and models. This allows users to track multiple markets at the same time. A new widget, called the Saved Search Territory Map allows users to see the results of a saved search on a global map, which can be re-sized and enlarged. In addition, the user can customize where on the screen these widgets are shown www.amstatcorp.com www.AVBUYER.com
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The Difference between Filed and Recorded FAA Documents & Why it Matters There’s a difference between the filing and recording of documents at the Federal Aviation Authority (FAA), and it matters when it comes to having a properly titled and registered aircraft. Here’s why…
How are documents filed at the FAA? The FAA has strict rules about how documents being filed need to look. The seller’s name must match the FAA records, only certain titles under signatures are acceptable, there are boxes to check for buyers, and lenders need help releasing outstanding loans or filing new ones. If any documents are not properly filled out when filed, the FAA could refuse to record them, causing problems for a buyer or owner on down the line. The FAA reviews all documents that are filed at or received by the central registry in Oklahoma City, Oklahoma. For the time being, there is a window in the Public Documents Room (PD Room) where anyone can walk up and hand in a document for filing. The window attendant will stamp the document with the date and time it was received. This document has now been filed at the FAA. With the digitization of all records, required by the FAA Reauthorization Bill passed on October 3rd, 2018, the PD Room is likely to be less of a factor in timely filings. However, whether in person, by mail, or via the internet, the rules and processes for filing documents remain the same.
How does the FAA record documents that have been filed? Filed documents are put through a rigorous review process, which can take up to six weeks to complete. The FAA has an extensive list of rules and regulations that documents must meet in order to be eligible for recording. If you’re not familiar with the rules, specifically those that apply to your situation, there’s a good chance that your document will not be in the proper recording format. Documents that meet all the requirements are stamped a second time with the new date and time reflecting that the document has been recorded by the FAA. They are then placed in the main aircraft file. Interestingly, in most cases, the priority of recorded documents relates back to the filing date, giving “first in time, first in right” status to recorded documents based on the time they were filed, not recorded. In other words, generally, first to file wins (although this is ultimately decided by a court of competent jurisdiction). If a document is rejected by the FAA because it doesn’t meet their regulations, it is not stamped as recorded and it is placed in a separate file called “suspense”. The suspense file is publicly available, so anyone can view what was filed and by whom, but questions always arise about the validity of these rejected documents. Any unrecorded documents that remain in the suspense file of an aircraft create a “cloud” in the title that will need to be addressed before selling or buying (see our previous article on Clearing Clouded Aircraft Titles). These unrecordable documents have a profoundly negative effect on an entity’s title, and they can be costly and time consuming to fix. Are all documents that are recorded with the FAA valid? And what does this all mean to an aircraft buyer or seller? Find out in the full article on www.avbuyer.com
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PRODUCTS & SERVICES AvFuel Adds Stobart to Network
Avfuel has expanded its global branded network with the addition of London Southend Airport’s Stobart Jet Centre (EGMC). The FBO offers 24/7 bespoke private jet services at London’s best rates with personalized services for all clients. Customers will enjoy transporting from plane to car in less than one minute with the assistance of an experienced team. Direct ramp access for vehicles, and onsite immigration and customs with pre-clearance availability ensures a smooth transition. In addition, the FBO’s location is less than 40 miles from the center of London and less than 12 minutes from Battersea via helicopter for more efficient travel to clients’ final metro destination www.avfuel.com
F/LIST Opens in Colorado
F/LIST, a leading international manufacturer of highend interior for business and private jets, yachts and luxury residences has opened a new site in Westminster/Jefferson County. The Austrian family-run company’s subsidiary COLORADO LLC recently leased industrial space in the City of Westminster, which was strategically chosen for its close proximity to the Rocky Mountain Metropolitan Airport (RMMA), which is home to Pilatus Business Aircraft, one of F/LIST’s largest partners. The new site will ensure easier coordination with local partners, and fast and efficient realization of highly sophisticated refurbishment and cabin modification projects as well as product support. The new establishment in Westminster also guarantees prompt and precise execution of the extensive range of aircraft aftermarket services for F/LIST’s North American customer base www.fai.ag
Avidyne’s New Atlas Bizjet FMS
Avidyne Corporation, a leading provider of integrated avionics systems, displays, ADS-B and safety systems for general aviation aircraft, announced their new dzus-mounted Avidyne Atlas multi-function flight management system for turbine-class aircraft and helicopters. The Avidyne Atlas includes a Satellite-based Augmentation System (SBAS) GPS navigator with Required Navigation Performance (RNP) and Area Navigation (RNAV) capability, including Localizer Performance with Vertical Guidance (LPV), Lateral Navigation/ Vertical Navigation (LNAV/VNAV), LNAVOnly, and Approach Procedures with Vertical (APV) approach modes. The system also features a full QWERTY style keyboard, 126 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
with Avidyne’s unique ‘Page & Tab’ and hybrid touch-screen user interface, allowing the pilot to get to any function in only one or two button pushes. The touch screen also provides full color Moving Map, plus georeferenced Jeppesen™ Electronic Approach Charts and Airport Diagrams www.avidyne.com
Jet Aviation opens New Van Nuys FBO
Jet Aviation has announced the opening of its new sustainably built FBO and hangar complex at Van Nuys Airport. The facility includes a brand-new 10,000 sq. ft. FBO terminal and 43,000 sq. ft. hangar that can accommodate the newer generation, large-body aircraft currently entering the market. The muchanticipated FBO and hangar project includes a brand-new 10,000 sq. ft. FBO terminal, a 43,000 sq. ft. hangar with 8,000 sq. ft. of office space and long, unobstructed ramp space. The hangar has a 30 ft. clearance, which can accommodate large aircraft, including the Gulfstream G700 and the Global 7500 www.jetaviation.com
Jet Aviation’s New Riyadh FBO
Jet Aviation is celebrating its 40th Anniversary in Saudi Arabia this year, and to demonstrate its ongoing commitment to the region, the company is investing in a new state-of-the-art FBO facility location at King Khaled International Airport in Riyadh. The newly designed facility is fully equipped to handle all types of aircraft. Amenities include a refreshment pantry and buffet, a large customer lounge, three VIP lounges (including a snooze room), a conference room, a duty-free shop, a prayer room, and weather and flight planning facilities. The facility also features an office located airside for handling and line crew. Jet Aviation plans to open the new facility for operation in Q1 2020 www.jetaviation.com www.AVBUYER.com
Products & Services January.qxp_Layout 1 18/12/2019 16:03 Page 3
PRODUCTS & SERVICES CAE Deploys Global 7500 Simulator in the Middle East
CAE recently announced that it’s expanding its training capacity in the Middle East with the deployment of a new Bombardier Global 7500 full-flight simulator (FFS) to the Emirates-CAE Flight Training Centre (ECFT) in Dubai. “CAE continues to enhance its training network with the most advanced technologies to support the training needs of business aviation pilots and operators worldwide. Through our Authorized Training Provider (ATP) agreement with Bombardier, CAE will deploy a Bombardier Global 7500 FFS in the Middle East, a first outside of North America,” said Nick Leontidis, CAE’s Group President, Civil Aviation Training Solutions. “This latest addition will give more flexibility to Bombardier’s Global 7500 operators and pilots in the region as we are bringing this unique training capability closer to them.” www.cae.com
Duncan Aviation Achieves SMS Level 3 Cert
Duncan Aviation announced that manager of Audit Programs Mike Brown has accepted a certificate on the company’s behalf from WYVERN Ltd. The certification recognizes Duncan Aviation for having a Safety Management System (SMS) in place at its repair station in Lincoln, Nebraska. Duncan Aviation is an active participant in the FAA’s voluntary SMS program, and because of its voluntary nature, there is no certification of Repair Stations’ SMS by the FAA. WYVERN, a global company that is committed to guiding aviation companies in safety-risk management, has filled that void www.duncanaviation.aero
FAI Brings Fly Alpha Fleet Onto its AOC
Germany-headquartered air ambulance specialist and special mission operator FAI rent-a-jet has acquired its 12th Learjet 60 SE. The aircraft will be refurbished at its Nuremberg-based MRO division FAI Technik, and will feature an all new interior with VIP grey leather seating for seven to eight passengers and high speed internet connectivity. It will also receive a newly designed exterior paint scheme. This marks the company's third Learjet 60 refurbishment project, and the aircraft should be available in March. FAI has also decided to discontinue the AOC of one of its charter businesses, Fly Alpha, in which it purchased a majority www.AVBUYER.com
stake just over four years ago in order to move into the shorter two hour charter flight market. It will transfer Fly Alpha's Premier 1A and King Air 350 aircraft onto its own AOC. Chairman Siegfried Axtmann comments: “Economically, it makes no sense to operate two German AOCs in parallel, therefore we have taken the decision to give up the second AOC and enrol Fly Alpha's aircraft into FAI's fleet, which now totals 25 business jets and one turboprop.” www.fai.ag
INGENIO Selected for Dassault Falcon Fleet
INGENIO Aerospace, developers of innovative aircraft cabin and cockpit solutions, announced that Dassault Falcon Jet has selected INGENIO products for use on in-service Falcon 2000, Falcon 900 and Falcon 7X aircraft. INGENIO ‘plug & play’ cabin products integrate with in-flight entertainment (IFE) systems to provide users with USB-driven solutions for personal electronic devices (PEDs). A line of cabin receptacles has been developed to accommodate INGENIO products in all Falcon cabin interiors, allowing clients to deploy INGENIO’s suite of products, including a variety of cabin tablet arms, depending on individual needs. Together, receptacles and arms offer passengers convenient, comfortable and stylish access to PEDs, and significant enhancements to existing IFE systems www.ingenioaerospace.com
UAS Announces China Ground Services
Global trip support solutions provider UAS International Trip Support (UAS) has expanded its capabilities in China and is now a domestic onsite handling agent providing handling services at all business airports in the region. The enhanced service offering complements the existing ground supervision delivered by UAS station managers throughout China, as well as UAS’ bespoke trip support solutions for VIP passengers and crew members www.uas.aero AVBUYER MAGAZINE Vol 24 Issue 1 2020
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AeroBuyNow January.qxp 18/12/2019 13:29 Page 1
S H O W C A S E
2006 Bombardier Learjet 45 Serial Number: Registration: Airframe TT: Landings:
45-087 9H-BCP 4359:11 3697
• FOR IMMEDIATE SALE Engines Honeywell TFE731-20AR – On MSP Gold #1 s/n P-116659 #2 s/n P-116658 APU Honeywell RE100(LJ) s/n P-178 – On MSP Gold 2,129:99 TSN – 4,869 APUS
Avionics & Connectivity COM Dual Honeywell RCZ 833 NAV Dual Honeywell RNZ 851 A/P Honeywell IC 600 XPDR Dual Honeywell RCZ 833 ADF Dual Honeywell RNZ 851 DME Dual Honeywell RNZ 851 ADC Dual Honeywell AZ 950 RADAR Honeywell Primus 660 Radalt Sperry RT-300 TCAS ACSS TCAS 2000 FMS Universal UNS-1EW EGPWS Honeywell Mark V CVR Universal CVR 120 FDR L3 Com. FA2100 ELT Artex C406-2
Interior & Entertainment 8 Single Seats in Light Beige Leather Seats in Double Club Arrangement Fwd Galley w/ High Temp Oven Cabin Management System w/ 10” Screen Lavatory w/ Belted Toilet Seat Exterior Overall White w/ Blue & Grey Stripes Last Painted 2015 Price Reduced
2000 Beechcraft King Air B200 Serial Number: Registration: Airframe TT: Landings:
BB-1701 YI-ASD 5109.24 4318
• NDH • ALL LOGS SINCE NEW • ENGINES OH IN 11-2010 BY MTU BERLIN • ON CAMP • ENGINES ON PARTIAL JSSI Engines Pratt & Whitney Canada PT6A-42 – TBO 4.100 – On JSSI #1 PCE-PJ0372 #2 PCE-PJ0370 Both 5.027:51 TSN – 4.197 CSN – 1.430:45 TSO – 253:05 TSHSI Hartzell Propeller Inc. HC-E4N-3G – TBO 4.000
#1 HH-1726 #2 HH-4348 4.239:06 TSN 1.889:41 TSN 369:52 SPOH - Due 08/2022 253:05 SPOH – Due 10/2023 Avionics & Connectivity Collins EFIS-85B 3 Tube/Pro Line II COM Dual Collins VHF-22A-00-11 NAV Dual Collins VIR-32 XPDR Dual Collins TDR-94 RMI Dual Collins RMI-30 DME Dual Collins DME-42 TAWS TAWS8100 w/ GPS/WAAS 1201 Sensor FMS Universal UNS-1K ADF Collins ADF-60A RADAR Collins WXR-840 Color Radalt Collins
AeroBuyNow SARL Le Park Palace, AAACS, 25 Avenue de la Costa, MC-98000, Monaco
128 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
CVR Fairchild A100S ELT Artex 110-4 w/ Cockpit Switch Interior & Entertainment 6 Pax 4 Cabin Adjustable Chair in Aft Club Arrangement Cabin Table Center Club Arrangement Full Refreshment Center Portable Audio/Visual DVD Private Lavatory Steam Blue Carpet Air Conditioning Exterior Overall White Vendetta Red, Charcoal & Feldspar Stripes – April 2005 Price Reduced
Tel: +33 (0)784 265 143 E-mail: mathieu.pezin@aerobuynow.com www.aerobuynow.com
www.AVBUYER.com
Jetsense Aviation Bombardier Challenger 604 January.qxp_Empyrean 17/12/2019 14:19 Page 1
S H O W C A S E
2006 Bombardier Challenger 604 Airframe TT: Landings:
4351 1883
Asking $5,595,000 More aggressive pricing available for a year-end deal Currently going through a $45K PPI at Flying Colours - SUS ATG-5000 Wifi -150 APU Engines Enrolled on GE OnPoint Paint Refurbishment in 2016 Interior Refurbishment in March 2018 Precision Plus
Dual Collins VHF-422C Dual Collins ADF-462 Dual Collins HF-9031A Dual GPS-4000 Receivers/Sensors Dual Collins TDR 94D Transponders Coltech SELCAL System Dual Collins ALT-55 Radio Altimeters Fairchild A100S CVR Interior & Entertainment Interior Configuration Fwd 4-Place Club, Aft 3Place Divan, and Aft 2-Place Club Number of Passengers 9
Engines Left engine Description: GE CF34-3B S/N: 950486 THSN: 4351 Hours TCSN: 1883 Cycles Engine Program GE OnPoint
Right engine GE CF34-3B 950484 4351 Hours 1883 Cycles GE OnPoint
Avionics & Connectivity Collins ProLine 4 System includes: Collins EFD-4077 Pro Line 4 6 Tube Dual Collins VIR-432 with FM Imm. Dual Collins DME-442 Collins TCAS II with Change 7 SATCOM ICS-200 System Collins RTA 854 Weather Radar Artex 406 Satellite ELT Honeywell EGPWS Mark V
Jet Sense Aviation, LLC Contact: Brett Forrester Contact: Pat Mitchell 1 Golfview Rd, 2nd Floor, Lake Zurich, Illinois 60047 www.AVBUYER.com
Tel: +1 (847) 550 4660 Email: brett@jetsenseaviation.com Email: pat@jetsenseaviation.com www.jetsenseaviation.com
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129
Mesotis January.qxp 18/12/2019 14:47 Page 1
S H O W C A S E
1996 Hawker 800XP Serial Number: Registration: Airframe TT: Landings:
258312 5N-EXJ 5480 4918
JSSI ENGINES (100%) NO DAMAGE HISTORY WINGLETS Engines Engine 1 Airframe TT: 5476 Cycles: 4228
Engine 2 5479 4230
• Hi Frequency: Dual King KHF-950 w/Motorola N1335 SELCAL • Navigation Radios: Dual Honeywell RCZ-851 • Radar Altimeter: Honeywell AA-300 w/dual antennas • TAWS: Honeywell Mark VII EGPWS w/windshear • TCAS: Honeywell TCAS-2000 TCAS-II w/change 7 • Transponder: Dual Honeywell RCZ-851 • Weather Radar: Honeywell Primus 870 color
APU 4918 hours / 7518 cycles Avionics • ADF: Dual Honeywell DF-850 • AFIS: Honeywell AFIS • Autopilot: Dual Honeywell DFZ-800 IFCS • Communication Radios: Dual Honeywell RCZ-851 w/8.33 kHz spacing • CVR: Fairchild A100A • DME: Dual Honeywell RCZ-851 • EFIS: Honeywell Primus II 5-tube • FDR: Fairchild F1000 • Flight Director: Dual Honeywell DFZ-800 IFCS • Flight Phone: AirCell • FMS: Dual Honeywell FMZ-2000 w/5.2 software & dual 12-channel GPS
Mesotis Jets Thomas Thums Fleischmarkt 7/3 1010 Vienna Austria
130 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
Mob: +43-67-6590-0082 Tel: +43-1-533-757216 E-mail: tthums@mesotisjets.com www.mesotisjets.com
www.AVBUYER.com
Vienna Jets December.qxp_Empyrean 18/12/2019 14:48 Page 1
S H O W C A S E
2001 Cessna Citation Excel Serial Number: Registration: Airframe TT: Landings:
5157 OE-GCA 5677 5025
Engines PW545A on 100% JSSI Left engine S/N: DB0324 Hours: 5224 Cycles: 4875 OVH: 04.2019 TSO: 205
Right engine DB0321 5606 4957 02.2018 576
100% JSSI, ADS-B OUT & SBAS NO DAMAGE HISTORY
APU Honeywell RE100 Total Time 3202 hrs Cycles 5944 Overhaul 2013 @ 3956 cycles Avionics & Connectivity Honeywell Primus 1000 Integrated Avionics System with 3-Tube EFIS AHARS – Dual LCR-93 ADC (Air Data Computer) – Dual Honeywell AZ850 FMS (Flight Management System) – Dual Universal UNS 1ESPW NAV – Dual Honeywell Nav/ILS Units VHF COM (Very High Frequ. Communication) – Dual Honeywell
DME (Distance Measuring Equipment) – Dual Honeywell DM-850 ADF (Automatic Direction Finder) – Honeywell DF-850 XPDR (Transponder) – Dual Honeywell XS852H (ADS-B) TCAS (Traffic Collision Avoidance System) – Honeywell TPU-67B ( TCAS II - Change 7.1) Radio ALT (Radar Altimeter) – Collins ALT-55 CVR (Cockpit Voice Recorder) – L3 A200S FDR (Flight Data Recorder) – Honeywell SSFDR EGPWS (Enhanced Ground Proximity Warning System) – Honeywell MK-V WX RADAR (Weather Radar) – Honeywell ELT (Emergency Location Transmitter) – Artex C406-2 Airshow Cabin Display Screen Interior & Entertainment 8+1 passenger executive interior with forward two-place side facing divan, center club seating and two forward facing seats. Seats in tasteful grey leather with complimenting accents. Interior refurbished 2016 by Duncan Aviation Exterior Attractive overall white with decent silver, blue and dark blue accents. New paint 2016 by Duncan Aviation
Vienna Jets Thomas Wieser Kolschitzkygasse 2/18, 1040 Vienna, Austria www.AVBUYER.com
Tel: +43 (0) 676 721 7335 Email: thomas.wieser@viennajets.com www.viennajets.com
AVBUYER MAGAZINE Vol 24 Issue 1 2020
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FROG Flugservice GmbH January.qxp_Empyrean 18/12/2019 14:20 Page 1
S H O W C A S E
1997 Cessna Citation Jet Serial Number: Registration: Airframe TT: Landings:
525-0188 N525PA 5409 5999
ALWAYS HANGARED, PROFESSIONALLY FLOWN, NO DAMAGE HISTORY, COMPLETE DOCUMENTS. NO OPEN MAINTENANCE ITEMS. AVAILABLE IMMEDIATELY Engines Two Williams FJ-44 Engine #1 3105,1 h TSN, 2863 cycles, 3485 h remaining to OVH Engine #2 3119,0 h TSN, 2838 cycles, 3485 h remaining to OVH
The engines are not on any engine program, but have been overhauled by Williams August 2019. Have been running 15 hours since and can be enrolled into the TAP Blue program, TBO then 4000h Avionics & Connectivity Sperry EADI/EHSI left, fully switchable Dual Garmin GTN 750 FMS/Comm/Nav/ILS, LPV capable, PRNAV Dual King KN-63 DME Dual Garmin GTX-330D Mode S Diversity Transponders, WAAS, ADS-B out King RDR-2000VP Color Radar with BFGoodrich WX-950 Storm Scope GMS/XLS FMS with Shadin Air Data King KR-87 ADF King KRA-405B Radio Altimeter Artex C406-2 ELT
Interior & Entertainment Light grey 5 place passenger interior with forward RH side facing seat (overhauled 2019), 4 place center club seating, belted lavatory ( approved as 6th seat). Condition 9/10 Exterior Overall body White with Silver and Blue stripes, condition 7/10 Price: $1,125,000
1996 Cessna Citation Jet Serial Number: Registration: Airframe TT:
525-0144 N525BQ 3317.4
ALWAYS HANGARED, PROFESSIONALLY FLOWN, NO DAMAGE HISTORY, COMPLETE DOCUMENTS. NO OPEN MAINTENANCE ITEMS. AVAILABLE IMMEDIATELY Engines Two Williams FJ-44, no engine program Engine #1 5084,2 h TSN, 4845 cycles, 1369 h remaining to OVH (check 6) Engine #2 5084,2 h TSN, 4845 cycles, 1369 h remaining to OVH (check 6)
Avionics & Connectivity (RVSM, P-RNAV and WAAS approved) Sperry EADI/EHSI left, switchable to either Garmin 430 Autopilot Sperry SPZ-5000 IFCS w.Flight Director Dual Garmin GNS 430, 8,33 Khz, WAAS, COM/NAV/GPS, switched to Avidyne 500 MFD King KY-196A as 3rd transceiver Avidyne 500 MFD Moving Map King KN-63 DME King KR-87 ADF King KRA-405B Radar Altimeter King KN 158 RMI Dual Garmin GTX 330W, Mode S diversity, ADS-B out Transponders King RDR-2000VP Color Radar switched to Avidyne 500 TCAS 1 switched to Avidyne Artex C406-2 ELT
FROG Flugservice GmbH Dr. Martin Altmann, CEO POB 5253, D-51491 Overath, Germany
132 Vol 24 Issue 1 2020 AVBUYER MAGAZINE
Interior & Entertainment Grey leather seating, four executive club seats, side facing belted seat. Belted Toilet counts as 6th seat Exterior White body with decal black, maroon and golden stripes, golden decal door and window frames Price: $830,000
Tel: +49-2204-74033 Mob: +49-170-6778833 Email: jetsales@froggy.de
www.AVBUYER.com
Sky Service December.qxp_Empyrean 17/12/2019 14:29 Page 1
S H O W C A S E
2018 Unique Cessna C525C Serial Number: Airframe:
288 350
• Always hangered • Only 350 Hrs since new • Tap Blue • Pro Parts • Full Collins Pro Line 21 • Second FMS-300 • Interactive Textual Weather & Flight Services (datalink) • FA2100 Flight Data Recorder (EASA) • HF-9000 • Automatic Direction Finder • RH Fwd Two Place Couch • RH Two book Navigation Chart Case • Pilot Training available • Partnership or Rent Back opportunity available for Belgian based parties
Sky Service Private Aviation Experience Grote Moerstraat 59 8200 Brugge - Belgium
www.AVBUYER.com
Tel: +32 (0) 475 44 39 11 Email: barth.fourcart@skyservice.be
AVBUYER MAGAZINE Vol 24 Issue 1 2020
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M A R K E T P L A C E
Gulfstream G550
Tel: +1 (314) 409-4791 E-mail: sales@jet-transactions.com
The Ritchie Group Price:
Make Offer
Year:
2004
S/N:
5057
Reg:
TBD
TTAF:
9380.1
Location: USA & Canada
New Paint Completed October 2019 and New Soft Goods in the Works at West Star Aviation. 2020 Compliant! ASC 105C – ADS-B V2 and DO-260B ASC 84D – Enhanced Navigation Universal Aft Galley w/Crew Compartment Seating Up to 14 Passengers, with Berthing for 6 Enrolled on Rolls Royce Corporate Care® Triple Honeywell FMS with WAAS/LPV Gulfstream Enhanced Vision System Rockwell Collins Venue Cabin Management System
www.jet-transactions.com
Hawker Beechcraft 900XP
Price:
$4,050,000
Year:
2011
S/N:
HA-0182
Reg:
YR-NAY
TTAF:
2259
Location: Germany
Cessna Citation Sovereign
Tel: +40 744 275 736 E-mail: tibischmidt202@gmail.com
MARIAN Mariniuc
Revision and Service up-to-date! Max. Speed: 862 km/h; Flight Autonomy: 5213 km. Engines-2 X TFE 731-50R-1H Honeywell. Time between Overhaul (TBO/TBCI): 6,000 Hours. APU: Honeywell gtcp 36-150w, s/n: p-1205, tsn:1,340 Hrs. Avionics: ADF: YES; AHRS: DUAL COLLINS AHC-3000; AUTOPILOT: COLLINS FGC-3000 IFCS; COMMUNICATION RADIOS: DUAL COLLINS VHF-4000Z/8.33 KHZ SPACING. Int: Cabinetry is finished with a high gloss finish straight grain veneer with hardwood moulding and consists of a 29 inch wide galley on the forword left side of the cabin next to the entry door and includes microwave, coffee maker etc.
Dennison Aviation, LLC Price:
Please Call
Year:
2005
S/N:
680-0018
Reg:
N889DF
TTAF:
5379.2
Tel: +1 (248) 701 9446 E-mail: Sd@dennisonaviation.com
The best looking Sovereign avaliable. Paint and Interior fully refurbished in 2016 by West Star Aviation. WAAS/LPV. ADS-B installed by Cessna. 9 Place interior. Aircraft lives in private facility where it is meticulously maintained and cared for
Location: USA & Canada
Cessna Citation CJ4
Price:
Make Offer
Year:
2013
S/N:
0143
Reg:
M-SSYS
TTAF:
790
Location: France
Hawker Beechcraft 800XP
Tel: +972 547 370 747 E-mail: reisch69@gmail.com
Eyal Reisch
Low total time. One owner since new. ADS-B OUT. Maintained at factory service center. scond FMS/DME/GPS. Always Hangared. No Damage History. Airframe: TTSN: 767.5 Hours. TTSN: 379 Cycles. Home Base LFLI - Annemasse, France. Maintenance Tracking CESCOM. Program Coverage ProParts. Avionics: Unit Type Description. EFIS Four 8 x 10 inch AMLCDs (two PFDs, two MFDs with EICAS). FMS Dual Collins FMS-3000 (WAAS/LPV Capable. Int: Number of Passengers 8 Passengers. Fwd Cabin One right hand side facing seat opposite galley storage. Mid Cabin Four pedestal seats in club configuration with two executive bi-folding tables
Tel: +966 504 661 203 E-mail: mawad@ab.com.sa
Mohamed Awad Price:
USD $1,650,000
Year:
2005
S/N:
258719
Reg:
VP-BCW
TTAF:
3,136
JAL is proudly presenting this 2005 production Hawker 800XP. Equipped with the Collins Pro Line 21 avionics suite, featuring Autopilot System, FMS,... Entered the service on AUG 2005, since ever operating under SupportPlus (Pro Part/Pro Tech) / MSP Program together with CAMP maintenance tracking … Price Reduced
Location: UK
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www.AVBUYER.com
P134-136.qxp 18/12/2019 09:37 Page 2
Gulfstream G150
Amber Jet Price:
Make Offer
Year:
2008
S/N:
245
Reg:
ES-AIR
TTAF:
3115
M A R K E Tel: +371-26772999 T E-mail: vr@amberjet.net P L EASA and FAA Compliant; A Exterior refurbished in 2016; C Maintained at Gulfstream London & Altenrhein Aviation E Enrolled on Rockwell Collins CASP Elite; Exterior fully refurbished in 2016; Fresh MPI accomplished at 2900 hrs. at Dallas Airmotive, Inc; Operated by European AOC. Feel free to contact for full specifications and brochure
Location: Europe, Latvia
Cessna Citation Bravo
Boris Peev Price:
Make Offer
Year:
2002
S/N:
550-1007
Reg:
LZ BPP
TTAF:
3533.8
Location: Bulgaria
Beechcraft King Air 350
Ballard Aircraft Price:
Please Call
Year:
2004
S/N:
FL-409
Reg:
N409LV
TTAF:
4059.3
Location: USA & Canada
Beechcraft King Air B200
WISS ISS Price:
$1,620,000 Plus Tax
Year:
2004
S/N:
BB-1861
Reg:
SP-RPW
TTAF:
2804
Location: Poland
Mitsubishi Solitaire
Michael Kraemer Price:
Please Call
Year:
1979
S/N:
407SA
Reg:
N750CA
TTAF:
4.410
Location: Germany
www.AVBUYER.com
Tel: +359 888 211 134 E-mail: office@aviobravo.com EU Registration. ENG1-PW 530A, 3533.8 H. ENG2-PW 530A, 3533.8 H. RVSM: Factory Standard. No damage history. Complete records and all log books. Special AOC Package: Commercially registered and operated in European AOC. This aircraft is in excellent condition. Aircraft's current location - LBSF. Avionics: Honeywell Primus 1000 Integrated Avionics System 3 – Tube EFIS. COMMUNICATION: Dual Bendix/King KY196B Comm. VHF NAVIGATION: Dual Bendix/King KN53 Nav Receiver. Interior: Standard Citation Bravo (7+ 2 + 1 Belted Lavatory). Center Club, two Aft Forward-facing Seats, rear Facing Seat across from Galley including Belted Lavatory. Price Reduced
Tel: +1 (316) 689 2992 E-mail: jrmart7313@gmail.com Absolutly Beautiful King Air 350. New -67A Blackhawk Engine upgrade! New 5 Blade MT composite Propellers. New Garmin G1000 Nxi Avionics. New Paint. New Interior. No Damage History. All Logs. 2979 Landings. Eng: PT6A-67A Blackhawk Engines Left SN# PCERT0191 Right SN# PCE-RT0192. Left & Right 5.0 Hours Since New Left & Right 3600 Hour TBO. 5 Year 2500 Hour Warranty. 400 Hours of Pratt ESP Gold. Avionics: New Garmin G1000 NXI. ADSB in/out. RVSM capable. XM Weather. Int: New grey leather interior 10/2019. Ext: New Strip and Paint 10/2019. Additional equipment: Raisbeck Wing Lockers. Raisbeck Dual Aft Strakes
Tel: +48 533 538 071 E-mail: pr@wiss.com.pl Engines: Pratt & Whitney PT6A-42, Propellers: Hartzell HC=E4N-3, Propellers inspected in 2017, Landing Gear Overhaul done in 2017, No damage history, ADS-B installed at the end of 2019. TT: 2866Hrs. Landings: 2782 cicles. All services carried out on time without exceeding the time limit. Always kept in a hangar - Privately owned by one family. CABIN Very well-kept interior - leather: – Cabin seating for six – Left-hand forward refreshment center – Two executive tables – Right-hand aft side-facing belted lavatory seat – 115 VAC outlets. – Pro Line 21 Integrated Avionics System – Collins radios with dual COM, dual NAV, dual audio control panels – Single DME – Collins TWR-850 Turbulence Weather Radar
Tel: +49 (0) 173 252 9420 E-mail: m.kraemer@tpsd.de Low time, great remaining hours. Cruise speed upto 321 KTS. Range upto 1.600 NM with 45 min reserve. Most ideal aircraft for private european buyer. EU customs cleared and VAT paid. Comes with new annual/100/200/600h inspection in 1/2020. EU service stations, pilot training and type rating TRTO available. European potential buyers to contact Michael at +49 173 2529420. US customers contact Bill at +1 401 556 5648, training and ferry available on request. Engines: TPE-331-10-511M. TT 4.410, recommended TBO 5.400. TSHS 810. RH prop due 3/2024. LH prop due 2/2027. G600 syntetic Vision. GTN750, on G600 and KMD850
AVBUYER MAGAZINE R Vol 24 Issue 1 2020 R
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M A R K E T P L A C E
Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com
Leonard Hudson Drilling
Bombardier Learjet 36A
Price:
Offer/Trade
Year:
1977
S/N:
36A-030
Reg:
N160GC
TTAF:
15,600
Learjet 36A, Long range capability, as configured 2,400 nautical miles. Can be upgraded to 2,600 mile range. Recent paint and interior, RVSM. Competitively priced at US $1,375,000, may take trade on a King Air or a helicopter Would consider trade for KingAir 200/300
Location: USA
Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com
Leonard Hudson Drilling
BELL 412EMS
Price:
Offer
Year:
1981
S/N:
33017
Reg:
N554AL
TTAF:
15265
Full EMS Medical 4 patient and 4 attendant interior. Recent ‘no expense spared’ airframe refurbishment at Acro Helipro within the last 100 hours. Both engines are fresh Pratt and Whitney overhauled. Immediate delivery, Meticulous records. Current with medical interior and 13 passenger utility interior are included, aircraft is ‘turn-key’ will provide Fresh annual /Export C of A
Location: USA
Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com
Leonard Hudson Drilling
BELL 212 (Five Available)
Price:
Please Call
Year:
1991-1996
S/N:
Call for details
Reg:
Call for details
TTAF:
Call for details
Five, Late Model, Bell 212s In 'Off Shore’. Available for immediate use. Asking $3.1M to $3.6M USD. Serial numbers: 35034, 35048, 35060, 35088 and 35096
Location: USA
Citation Mustang
AUGSBURG AIR SERVICE
Tel: +49 171-210 20 37 E-mail: sales@aas-augsburg.de
Price: Year:
Wanted: Beech Premier 1A
2009
Built in 2006 or after, in good condition and at a fair price, preferrably with brake improvement
S/N: Reg: TTAF:
3300
Location: Germany
Alberth Air Parts
+1 832 934 0055
Spare Parts
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Advertiser’s Index 1st Source Bank ................................................113
ElliottJets ...............................................................67
Lektro....................................................................137
AeroBuyNow.......................................................128
Engine Assurance Program ...............................71
Lone Mountain Aircraft........................................79
Aircraft BlueBook .................................................83
Freestream Aircraft ..............................................29
Mesotis Jets ........................................................130
Aircraft Finance Corporation .............................11
FROG Flugservice GmbH...............................132
NAFA ....................................................................106
Airfleet Capital ......................................................55
General Aviation Services ..................................75
OGARAJETS................................................26 - 27
Altea ......................................................................117
Global Jet Capital.................................................69
Par Avion ................................................................43
Aradian Aviation .................................................123
Global Jet Monaco .......................................... 5 - 9
Pratt & Whitney ..................................................121
Avjet Global............................................. 1, 22 - 23
Hatt & Associates ................................................59
Singapore Airshow............................................100
Avpro ..............................................................12 - 15
Heli Connections Aviation ...............................111
Sky Aviation Holdings .........................................25
Boutsen Aviation................................................119
Isle of Man Aircraft Registry ............................111
Sky Service Private Aviation............................133
Central Business Jets .......................................139
JetBrokers............................................................101
Sparfell & Partners ......................................18 - 19
Conklin & de Decker............................................62
Jetcraft Corporation ..........................48 - 49, 140
Textron Aviation Pre-Owned ............................107
Corporate Concepts ...........................................85
Jeteffect .........................................................40 - 41
The Jet Business..........................................30 - 31
Dassault Falcon Pre-Owned. ........................2 - 3
JetHQ .............................................................44 - 45
The Private Jet Company....................................21
Donath Aircraft Services.....................................63
Jet Sense Aviation .............................................129
Vienna Jets ..........................................................131
Duncan Aviation ...................................34 - 36, 99
JSSI (Jet Support Services)...............................37
Wright Brothers Aircraft Title ..........................125
Eagle Aviation........................................................53
Leading Edge Aviation Solutions......................81
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Aircraft For Sale • AIRCRAFT • HELICOPTERS
AIRCRAFT
PAGE
AIRCRAFT
AIRBUS
CESSNA
ACJ 318 . . . . . . . 31, A318 Elite . . . . . 5, A319 VIP . . . . . . 5, A380-800 . . . . . . 19,
Citation
BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 31, 140, BBJ2 . . . . . . . . . 5, BBJ3 . . . . . . . . . 29, BBJMax8 . . . . . . 5, 737-200 . . . . . . . 85, 737-300 . . . . . . . 85, 757 . . . . . . . . . . . 23, 787-8. . . . . . . . . . 49, 140,
BOMBARDIER Global 5000 . . . . 45, 48, 49, 119, 140, Global 6000 . . . . 5, 23, 35, 48, 49, . . . . . . . . . . . . . . . 140, Global 7500 . . . . 48, 140, Global Express . 30, 45, Global Express XRS. 12, 30, 49, . . . . . . . . . . . . . . . 140,
Challenger 300 . . . . . . . . . . . 5, 9, 12, 13, 26, 63, . . . . . . . . . . . . . . . 67, 75, 350 . . . . . . . . . . . 12, 49, 140, 600 . . . . . . . . . . . 101, 601 1A . . . . . . . . 48, 601 3A-ER . . . . . 34, 601-3R . . . . . . . . 35, 604 . . . . . . . . . . . 13, 41, 129, 605 . . . . . . . . . . . 23, 34, 35, 48, 75 . . . . . . . . . . . . . . . 81, 650 . . . . . . . . . . . 41, 49, 140, 850 . . . . . . . . . . . 5, 48,
PAGE
II . . . . . . . . . . . . . 101, III . . . . . . . . . . . . . 101, V. . . . . . . . . . . . . . 43, 101, X . . . . . . . . . . . . . 14, 41, 53, X +. . . . . . . . . . . . 49, 140, XLS . . . . . . . . . . . . 14, 41, XLS+ . . . . . . . . . . . 43, CJ2. . . . . . . . . . . . . 49, 81, 140, CJ2+ . . . . . . . . . . . 49, CJ3. . . . . . . . . . . . . 21, 43, CJ4. . . . . . . . . . . . 134, 140, Bravo . . . . . . . . . 35, 135, Encore . . . . . . . . 41,139, Excel . . . . . . . . . . 41, 67, 131, Caravan 208. . . . 49, GrandCaravanEX. 49, 140, Jet . . . . . . . . . . . . 53, 132, M2 . . . . . . . . . . . . 79, Mustang. . . . . . . . 136, Sovereign+ . . . . 35, 49, Sovereign. . . . . . 134, 182T . . . . . . . . . . 53, 206H . . . . . . . . . . 101, 340A RAN VI . . . 53, 500 . . . . . . . . . . . 101, 525C . . . . . . . . . . 133, SII . . . . . . . . . . . . . 35, T206H. . . . . . . . . . 53, 101,
PAGE
. . . . . . . . . . . . . . . 139, 900LX . . . . . . . . . 49, 140, 2000 . . . . . . . . . . 2, 13, 40, 2000EX. . . . . . . . 45, 2000EX EASy II . 59, 81, 139, 2000LX . . . . . . . . 3, 63, 2000LXS. . . . . . . 3, 140,
DORNIER 328-310 . . . . . . . 36,
EMBRAER Legacy 500 . . . . 12, 36, 49, 140, Legacy 600 . . . . 19, 140, Legacy 650 . . . . 101, Lineage 1000 . . 19, Lineage 1000E . 119, 139, Phenom 100 . . . 26, Phenom 100E . . 26, 34, Phenom 100EV. 26, Phenom 300 . . . 5, 26, 79,
AIRCRAFT
PAGE
400XP . . . . . . . . . 26, 44, 101, 700A . . . . . . . . . . 101, 800A . . . . . . . . . . 101, 800XP . . . . . . . . . 14, 19, 21, 26, 41, . . . . . . . . . . . . . . . 48, 101, 123, 130, . . . . . . . . . . . . . . . 134, 800XPi . . . . . . . . 14, 850XP. . . . . . . . . 79, 900XP . . . . . . . . . 14, 48, 67, 123, 134, 4000 . . . . . . . . . . 21,
HONDA Jet . . . . . . . . . . . . 67,
IAI Astra 1125SP . . 34, 139, Astra SPX . . . . . 34,
MITSUBISHI Solitaire . . . . . . . 135,
NEXTANT
GULFSTREAM
400XTi . . . . . . . . 49, 81, 140,
PIPER
TBM700A . . . . . . 119, TBM700B . . . . . . 53, TBM930 . . . . . . . 67,
IV . . . . . . . . . . . . . 23, IVSP . . . . . . . . . . 21, 81, 123, V. . . . . . . . . . . . . . 12, 75, 85, 123, 150 . . . . . . . . . . . 23, 40, 135, 200 . . . . . . . . . . . 12, 119, 280 . . . . . . . . . . . 59, 81, 139, 350 . . . . . . . . . . . 12, 119, 450 . . . . . . . . . . . 5, 40, 63, 119, 123, . . . . . . . . . . . . . . . 140, 550 . . . . . . . . . . . 1, 12, 19, 22, 26, 29, . . . . . . . . . . . . . . . 31, 40, 49, 81, 119, . . . . . . . . . . . . . . . 123, 134, 140, 650 . . . . . . . . . . . 12, 650ER. . . . . . . . . 23, 29, 40,
DASSAULT FALCON
HAWKER BEECHCRAFT
7X . . . . . . . . . . . . 2, 5, 6, 7, 29, 31, 35, . . . . . . . . . . . . . . . 49, 139, 8X . . . . . . . . . . . . 13, 119, 20F-5BR . . . . . . . 67, 101, 50 . . . . . . . . . . . . 14, 26, 40, 101, 119, . . . . . . . . . . . . . . . 139, 50EX . . . . . . . . . . 13, 900B . . . . . . . . . . 81, 900DX. . . . . . . . . 30, 75, 900DX EASy . . . 30, 900EX . . . . . . . . . 13, 85, 900EX EASy . . . 5, 8, 13, 30, 35, 40,
King Air
CIRRUS SR22T. . . . . . . . . 53,
DAHER SOCATA
Learjet 31A . . . . . . . . . . . 101, 35A . . . . . . . . . . . 101, 36A . . . . . . . . . . . 136, 40XR . . . . . . . . . . 101, 45 . . . . . . . . . . . . 14, 45XR . . . . . . . . . . 14, 44, 59, 55 . . . . . . . . . . . . 101, 60 . . . . . . . . . . . . 14, 25, 36, 49, 75, . . . . . . . . . . . . . . . 140, 60SE . . . . . . . . . . 67, 139, 60XR . . . . . . . . . . 21, 45, 49, 70. . . . . . . . . . . . . 21, 75. . . . . . . . . . . . . 44,
AIRCRAFT
Cheyenne IIIA . . 101, Seneca V. . . . . . . 53,
HELICOPTERS AIRBUS/ EUROCOPTER EC 120B . . . . . . . 123, EC 145 . . . . . . . . 111, 119,
AGUSTAWESTLAND AW109S Grand . 19, 36,
250 . . . . . . . . . . . 41, 44, 200XPR . . . . . . . 101, 350 . . . . . . . . . . . 44, 123, 135, A100 . . . . . . . . . . 101, B200 . . . . . . . . . . 53, 123, 135, C90B. . . . . . . . . . 44, 49, 59, 101, 123, . . . . . . . . . . . . . . . 140,
BELL 212 . . . . . . . . . . . 136, 412EP . . . . . . . . . 123, 412EMS . . . . . . . 136,
Beechcraft Premier IA . . . . . 119, 123,
Hawker 400A . . . . . . . . . . 101,
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2015 Falcon 7X SN267
Embraer Lineage 1000E SN190-00611
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Astra 1125SP SN048
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