AvBuyer Magazine August 2021 by AvBuyer Ltd.

FC Southern Cross August.qxp_FC December 06 21/07/2021 14:19 Page 1

Volume 25 Issue 8 2021

™

ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION

THIS MONTH proudly presents

2001 Boeing BBJ See page 9 for further details

Jet Comparison: Cessna Citation Longitude vs Dassault Falcon 2000S What’s the Latest on the Beechcraft King Air Market? Right-Sizing BizJets: Planning for Change www.AVBUYER.com

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Vol.25 Issue 8

Contents

2021

Market Indicators

Trends and Observations from Leading Business Aviation Analysts

Silver Linings for a Post-COVID Aerospace Industry

28 32 38 44 48

Market Insights

Interview With Don Spieth, General Aviation Services What’s the Latest on the King Air Market?

Buying & Selling Aircraft

How to Minimize BizJet Residual Value Anxiety How Not to Save Money Ahead of a BizJet Sale

Ownership

The First-Time Buyers’ Guide to Jet Cards

Privacy Considerations for Aircraft Owners (Part 2)

How to Get a Great Private Flight Experience

Helicopter Ownership: What are the Operating Costs?

71 76 86

Aircraft Price Guide

Turboprop Aircraft Values

Jet Comparison

Cessna Citation Longitude vs Dassault Falcon 2000S

Flight Department Management

Right-Sizing BizJets: Planning for Change

How to Fly Incognito in the USA

How to Optimize Human Performance on the Flight Deck

EDITORIAL Commissioning Editor Matthew Harris +44 (0) 20 8939 7722 editorial@avbuyer.com Editorial Contributor (USA Office) Dave Higdon dave@avbuyer.com ADVERTISING Steve Champness - Publisher Americas +1 770 769 5872 steve@avbuyer.com Ricky Gioconda Account Manager +1 919 434 1364 ricky@avbuyer.com Lise Margin Account Manager +1 703 818 1024 lise@avbuyer.com David Olcott Account Manager +1 802 233 6458 davo@avbuyer.com Maria Brabec - Account Manager EMEA & APAC Aircraft & Services Sales +420 604 224 828 maria@avbuyer.com 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

Avionics

Avionics 101: Breaking Open Avionics’ Complexity

AVBUYER.COM Jayne Jackson jayne@avbuyer.com

110

How to Future-Proof Your Avionics

Emma Davey emma@avbuyer.com

116

OEM News and Industry Appointments

120

Showcases

126

Marketplace

130

Advertisers’ Index

130

Aircraft for Sale Index

102

Community News

Next Month

• How to Spend on an Older Cabin Refurbishment • Bombardier Learjet Market Update

4 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

MANAGING DIRECTOR John Brennan +44 (0) 20 8255 4229 john@avbuyer.com USA OFFICE 1210 West 11th Street, Wichita, KS 67203-3517 EUROPEAN OFFICE AvBuyer House, 34A High Street, Thames Ditton, Surrey KT7 0RY, UK +44 (0)20 8255 4000 Freephone from USA: +1 855 425 7638 PRINTED BY Fry Communications, Inc. 800 West Church Road, Mechanicsburg, PA 17055 www.AVBUYER.com

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21.07.2021 11:29:23

Freestream 1 May.qxp 21/04/2021 11:31 Page 1

2011 Falcon 7X S/N: 132. Airframe Total Time: 4144.6 hours. Aircraft Total Cycles: 1060

2009 Falcon 7X S/N: 046. Airframe Total Time: 6504.8 hours. Aircraft Total Cycles: 1639

2012 Global 6000 S/N: 9432. Airframe Total time: 5,129 hours. Aircraft Total Cycles: 1100 FREESTREAM AIRCRAFT LIMITED

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FREESTREAM AIRCRAFT (H.K.) LIMITED

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Freestream 2 August.qxp 19/07/2021 12:06 Page 1

2015 in Service 2017 Boeing 787-8 VIP Airframe Total Time: Delivery Hours Aircraft. Total Cycles: Delivery

2001 BBJ S/N: 29972 YG073 Airframe Total time: 8901.7 hours Aircraft. Total Cycles: 3612

2007 in Service 2010 BBJ S/N: 36090 Airframe Total Time: 2,451 hours Aircraft. Total Cycles: 724

2011 G550 FREESTREAM AIRCRAFT LIMITED

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FREESTREAM AIRCRAFT (H.K.) LIMITED

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MARKET INDICATORS

AVBUYER.com

Business Aviation Market Overview Brian Foley shares insights on how 2021 pre-owned business aircraft activity is going, and how the current inventory shortage could play out… or those keeping track, AMSTAT reported 1,214 pre-owned jet transactions for the first half of 2021 (H1 2021), compared with 750 sales for H1 2020 – a whopping 62% increase. While that’s great news, don’t forget that January to June of last year included a pandemic lockdown which temporarily hampered closings. Therefore, much of the sales activity simply got deferred to H2 2020, which created a year-end closing crunch of epic proportions. With total transactions for the whole of 2020 numbering 2,319, the 1,214 recorded for H1 2021 should help put us in the ballpark with 2020’s transaction volume by year-end, helping 2021 to be yet another outstanding year.

What Can We Learn From Other Industries?

Business Aviation isn’t on the minds of mainstream economists, who instead comment and forecast on such fundamental basics as employment, GDP and household income.

8 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Still, perhaps there’s a similar situation in the greater economy – low inventory and high demand – that could give us clues on how our own pre-owned market could eventually play out… Auto Market: Used-vehicle prices are hitting all-time highs in the US, prompting a look at whether this is inventorydriven. Contrary to our industry, however, the unsold vehicle inventory is just 5% below levels a year ago; hardly a change that would explain prices being 25% higher than they were this time last year. A further look at what drove used vehicle prices to record highs wasn’t overall scarcity – there are still plenty on dealer lots – but rather because there were fewer old, high mileage, low price cars for sale. Consumers cleared out the supply of the cheapest cars leaving plenty of the expensive, new, low-mileage cars which drove up the average price of used vehicles. This is the complete opposite of our industry where the

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page 12

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Southern Cross August.qxp_Layout 1 19/07/2021 12:07 Page 1

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MARKET INDICATORS

AVBUYER.com

young, low-hour, more expensive aircraft are in high demand. Thus, nix auto sales as ever being a harbinger of how the pre-owned jet industry might behave. Along these lines, I would even submit that pre-owned business jet prices haven’t risen much, despite historically low inventories. In part that’s because there are very few more-expensive, late models left for sale, leaving only the older, lower-priced aircraft on the market. This will tend to distort used jet prices, making them appear to be flat or declining. Housing Market: Next, the housing market was explored to see if there were any similarities with the pre-owned jet market. Both lack inventory, have high demand, and set transaction records in 2020. There are indications that the peak of the hot housing market was reached in late spring, at which point days-onmarket (DOM) began to increase. This has parallels with our industry (which has seen DOM steadily climb from 481 days last summer to 603 days now). This suggests we’ve already been on the path back towards normality for a while, perhaps without even knowing it.

If the housing outlook is indeed a proxy for the preowned private aircraft trajectory, current housing projections call for the lack of adequate supply and rising mortgage rates to hold back some potential home sales. More existing homeowners are eventually expected to list their homes which should help ease the shortage over time. Again, I would argue that there are some parallels with our own industry here. Existing home sales forecasts have been revised downward lately, but 2021 sales transactions are still expected to exceed 2020’s. Price should rise more slowly through 2022.

The Take-Away Lesson

Whether or not pre-owned business jet sales will follow the home market, the lesson from any industry, including our own, is that markets like to reach an equilibrium and not stay at extremes for any length of time. While there is nothing to indicate 2022 won’t be another good year for pre-owned jet sales, it’s likely that inventory and transaction levels will have begun to return to more traditional, and sustainable, levels. MI www.brifo.com page 16

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BRIAN FOLEY formed Brian Foley Associates (BRiFO) in 2006 to assist aerospace firms and investors with strategic research. In addition to his work as Market Intelligence Editor, AvBuyer, he is a regular contributor for Forbes.com and his views are published in the media worldwide. Brian serves the Transportation Research Board as a member of the Business Aviation, helicopter, commercial airline and UAV system subcommittees, and he previously served on the Board of a Wall Street financial firm. Before starting his consultancy business, Brian was marketing director at Dassault Falcon Jet for 20 years, and started his career at Boeing. He is an instrument-rated private pilot. https://www.linkedin.com/in/brifo/

12 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

www.AVBUYER.com

AeroBuyNow August.qxp_Layout 1 19/07/2021 12:10 Page 1

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2010 A109S GRAND S/N 22162 1’805 TT, New Interior & Paint 2018, Single Pilot IFR Approved, Strobe Lights, Aft Cabin Mini Bar, 5+1 Passengers

+41 22 787 08 77 / +1 301 525 4380 TRADING.GENEVA@SPARFELL.AERO TRADING.USA@SPARFELL.AERO WWW.SPARFELL.AERO

Make Offer

CHARTER TRADING SALES & ACQUISITIONS LEASING DESIGN

2007 AGUSTA A109E POWER OFF-MARKET

2014 CHALLENGER 605 S/N 5966

2’103 Hours, 4’541 Cycles, EASA, Engines on Aerodynamics Powerplan, 5+1 Passengers

2’860 TT, EASA, SmartParts, Engines GE OnPoint, APU MSP Gold, One owner since new, 12 Passengers

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DEAL PENDING

2014 CITATION CJ4 OFF-MARKET

1995 CITATION ULTRA S/N 280

3’400 TT, ADS-B Out v2, T-CAS 7.1, Airframe & Engines on Programs,EASA, 9 Pax, WAAS, LPV, One Owner since New.

8’618 Hours, EASA, WAAS/LPV, ADS-B Out

DEAL PENDING

2001 CITATION EXCEL S/N 5605154

2007 LEGACY 600 S/N 995

7’130 Hours, EASA, Engines on JSSI, WAAS/LPV, ADS-B Out, APU

4’960 TT, 144 Mths/LDG OVH/ ADS-B/Cabin Touch-up in 2019, EASA, EEC, RRCC Engines Program, Wi-Fi, 13 Passengers

Make Offer

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CHARTER - TRADING - SALES &

ACQUISITIONS - LEASING - DESIGN

JUST SOLD

JUST SOLD File Picture

1999 LEARJET 45 S/N 14

2014 LEGACY 650 OFF-MARKET

Bombardier Business Aircraft, 9 Passengers

2’600 Hours, EASA, Engines and APU on Programs, 13 Passengers

JUST SOLD

Just Sold

GULFSTREAM IV S/N 1068

2003 HAWKER 800XP S/N 258612

Corporate Care, ASC-190, Gear Overhaul Done, New Paint, Carpet & Flooring, WiFi, ADS-B

4’050 TT, Engines on MSP Gold, 8 Pax + Belt Lav., G-Check + ADS-B Completed in January 2020

JUST SOLD

Just Sold

2011 PHENOM 300 S/N 50500062

2014 LEGACY 650 S/N 1194

3’260 Hours, EASA, Engines on JSSI, Airframe on Embraer Executive Care, FDR/CVR

One US Owner, Gorgeous Turn-key Aircraft, 2’900 hours, RRCC, ADS-B/CPDLC/FANS 1/A, WAAS/LPV, GoGo Wifi, 13 pax.

Just Sold

MarketIndicators.qxp_Layout 1 20/07/2021 16:48 Page 3

MARKET INDICATORS

AVBUYER.com

Global Flight Activity – June 2021 Global Business Aviation traffic increased by 6% in June 2021 compared to June 2019, according to WingX Advance, and effectively set record levels of activity. By the end of June, Business Aviation traffic was just 3% off the comparable activity levels in H1 2019. In the surging US market, activity was edging ahead of the H1 2019 activity, while the UEFA Euro 2020 Football Championships was clearly a catalyst for European recovery during June, with host cities seeing very strong growth compared to June 2019.

European Activity

Business Aviation activity surged back in Europe during June, with 6% more flights in the final two weeks of the month than in the same two weeks back in 2019. For example, business jet and turboprop departures from airports in Germany were up 9% compared to the same fortnight in June 2019. Spain’s traffic soared 18% above June 2019 levels, Portugal was 42% ahead, and Greece recorded an additional 55% in Business Aviation traffic. Belgium and Netherlands both had almost 20% more jet and turboprop flights than in June 2019. Activity was still trailing 2019 levels 16 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

in France and Italy, but only by 3%, whereas flight activity in the United Kingdom remained 23% below 2019 levels.

US Activity

The US Business Aviation market continued to break records, with flights in June up by 11% compared to June 2019. For just business jets, the lead was even larger – with 20% more sectors flown during June 2021 than in June 2019. Year-to-date, at almost the half-way point of 2021, business jet activity was 2% ahead of 2019. More than half the traffic was Private flight activity, but Part 91 activity still trailed 2019 levels. June’s growth essentially came from charter and fractional operators, with those sectors more than 20% above their normal levels. Business jet flights within the US were up 23% in June, while international connections also picked up. Flights to Mexico were up 40%; flights to the Bahamas were up 60%; and flights to Turks and Caicos more than doubled (versus June 2019). Flights to Canada, meanwhile, were still 70% below normal, while transatlantic flights were still half of what they were.

Rest of the World Activity

Outside Europe and the US, June’s business jet flight trended 4% below where they were in June 2019 (though they’re up 85% on last year. This compares to a YTD deficit of 12% compared to H1 2019. • • •

Canada and Mexico were still onethird behind their June 2019 levels. Morocco and Japan have also yet to fully recover. Some countries saw rebounds well above June 2019 activity levels, including Brazil, India, UAE, Nigeria, and Indonesia.

“We have seen a significant milestone this month with business jet activity in the US, year-to-date, surpassing comparable 2019 levels,” said Richard Koe, Managing Director, WingX Advance. “The rate of the rebound is gathering pace in the US, and Europe may be picking up the same growth trend. “The UEFA Euro host cities have seen big spikes in business jet arrivals, and the summer season has opened up for the first time in two years, with a surge of high-end tourists heading to the Mediterranean’s most famous resorts.” page 20 MI www.wingx-advance.com



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MARKET INDICATORS

Hagerty Jet Group: Major Corrections in Gulfstream Market It has been a volatile cycle in the preowned Business Jet market over the last 12 months, says Hagerty Jet Group, which adds that there are some major corrections occurring in the marketplace… This time last year, supply was at an alltime high, and prices were coming down as many buyers were hesitant to enter the pre-owned market while prices only seemed to be softening. One year ago, there were 24 preowned Gulfstream G650s for sale. In stark contrast, today there are only four remaining for sale. For the first time since 2018, Hagerty Jet Group has seen aircraft values increase for two consecutive quarters, and expects that trend to continue (or at least remain flat for the remainder of 2021). The market shifted from a buyer’s market in the fall of 2020 when transactions spiked across almost all makes and models of business jets. Buyers who entered the market in 2021 thought they were still ahead of the competition, but they soon learned that we are in a highly competitive market.

Nearly Non-Existent Supply

“We are experiencing similar issues as many of our industry peers,” Hagerty Jet Group says. “We have buyers who want to upgrade their older aircraft, but cannot find suitable replacements. The supply of aircraft less than five years old

is nearly non-existent, and it seems like everyone is looking for the same thing regardless of make and model.” Hagerty Jet Group started an acquisition search for a Gulfstream G650 in early January, and made at least six offers to purchase different aircraft. In many cases, “it became a bidding war”. In other instances, Sellers decided to remove their aircraft from the market because they could not find their replacements. “Once supply had dried up, we shifted our focus to a different model, only to find a similarly competitive market,” the company adds. “We made an offer on a Gulfstream G550 within two hours of it coming to market. By the end of the day, the Seller had four competitive offers on the table. “They closed the bidding and told the buyers they each had one week to see the airplane and make their final bid,” which Hagerty Jet Group successfully won, “not just because of price, but because we had the right team in place, including a trusting buyer with lots of experience buying and selling, which gave the Seller comfort”. With the G550 under contract, the buyer’s G400 was listed for sale, and was on the market for less than 24 hours before a deal was accepted. Hagerty Jet Group recommends that clients secure a replacement aircraft before listing their aircraft, because

North America Leads Pre-Owned Twin Heli Demand

Aero Asset’s Q2 2021 Heli Market Trends report indicates 15% greater pre-owned twin-engine helicopter retail sales volume in H1 2021. Available inventory shrank as the supply of helicopters for sale fell 10% year-over-year (YoY)… After trailing Europe in 2020, North America now leads transaction volume, accounting for half of all global pre-owned twin engine helicopter transactions YTD in 2021. VIP-configured sales volume led the way, with an increase of 40% YoY. “Light twin engine retail sales jumped nearly 40% in the first two quarters of 2021, and medium twin sales rose 25%,” said Valerie Pereira, Aero Asset’s Vice President of Market Research. 20 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

selling is much easier than buying in this environment. The spike in values comes as no surprise to the company, given the environment of historically-low interest rates and favorable bonus depreciation tax incentives in the US.

Pre-Purchase Inspection Availability

Another obstacle faced is availability for pre-purchase inspections, the company says. “The next available slot for a Gulfstream Aircraft and Records Condition Survey (ARCS) for a large cabin aircraft in Savannah is nearly eight weeks away, which is causing a significant bottleneck in the system.” Since it is too risky to be under contract for so long, Hagerty Jet Group says many sellers insist that deposits become non-refundable upon signing the purchase agreements. “From what we can see, backlogs at the OEMs are not growing substantially just yet. The pre-owned market is still a much better value than the new market. Large US corporations which typically buy new aircraft have been slow to return,” the company concludes. The backlog for most new aircraft remains at more than 12 months for an airplane built to customer specifications, meaning the pre-owned market should remain competitive for the next 12-24 months. MI www.hagertyjetgroup.com T

“Heavy helicopter sales, however, slumped during the same period.”

Deal Pipeline Drops

Pereira also noted that after two consecutive quarters of growth in the number of deals pending at various stages, the deal pipeline had decreased by a sizable 35% in Q2 2021 compared to Q1 2021. However, the number of deals pending in the pipeline were up 15% YTD, versus the same period in 2021. The most liquid pre-owned market YTD was the Leonardo AW109S/SP, closely followed by the Eurocopter/Airbus EC/H145. MI https://aeroasset.com/report T

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MARKET INDICATORS

AVBUYER.com

In-Service Aircraft Values & Maintenance Condition

Table A

Fleet Maintenance Condition $ Million $1.55

Aircraft Values

The average Ask Price for the tracked fleet decreased 1.8% in June to about the 12-month average, fueled by reductions among the jet groups. Q2 and YTD figures were higher (2.2% and 0.7%, respectively), while YoY Ask Prices posted a minor 0.2% increase.

Inventory Fleet Maintenance Condition

Q2 closed with sales of lower quality assets dominating buyer preference, helping increase the available pool’s Quality Rating while lowering Maintenance Exposure. Specifically: Quality Rating improved for the first time in four months, rising 0.2% to 5.282 and maintaining the available fleet well within the ‘Excellent’ range, on Asset Insight’s scale of -2.5 to 10. The Quality figure signifies inventory assets will require near-term completion of fewer maintenance events. Maintenance Exposure, defined as the aircraft’s accumulated/embedded maintenance expense, improved (decreased) 1.9% to $1.459m in June. The significance is that, on average, upcoming maintenance events facing inventory aircraft will cost less to complete.

Maintenance Exposure to Ask Price (ETP) Ratio

The ETP Ratio is a useful indicator of an aircraft’s marketability. It is 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’ (DoM) 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 Q2 2021, assets whose ETP Ratio was 40% or higher were listed for sale nearly 89% longer, on average, than aircraft whose Ratio was below 40% (281 versus 530 Days on Market). June’s market analysis also revealed that 50% of Asset Insight’s tracked models, and almost 58% of the tracked fleet, posted an ETP Ratio greater than 40%. The ETP Ratio decreased to 73.5%, from May’s record worst (highest) figure of 76.3%. With Ask Prices lower, a decrease in Maintenance Exposure was the driver behind the ETP Ratio improvement, but the figure remained worse than the 12-month average of 72.7%. Availability for the tracked models decreased to 7.3% of the active fleet, compared to 10.9% in June 2020. Asset Insight 22 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

5.282

5.30

Following the ‘for sale’ pool peak in June 2020, business aircraft inventory has steadily decreased over the past year with 1,450 aircraft now comprising Asset Insight’s fleet of 134 tracked models. How does their maintenance condition and marketability compare? Asset Insight’s June 30, 2021 market analysis revealed a 5.0% contraction, equating to a year-to-date (YTD) decrease of 24.2%, as well as a 38.6% year-over-year (YoY) availability reduction – and all four groups were involved.

Market Summary

$1.49

5.40



$1.50

$1.45 $1.40

5.20

Quality Rating

Maintenance Exposure

$1.35

Quality Rating Trendline

Table B G500 2.2% G650ER 4.7% F2000LXS 7.4% CL-350 8.8% Citation CJ4 525C 9.0% Citation Sovereign + 9.7% F7X 10.1% King Air 350i 10.2% Learjet 75 10.2% Global 6000 10.3% F900LX 10.7% F2000S 12.6% Boeing BBJ 12.8% Citation CJ3+ 13.0% G280 13.2% Citation X+ 13.3% Phenom 300 14.3% Legacy 650 16.5% Citation Encore + 16.5% Pilatus PC-12 17.3% F900EX EASy 17.6% Citation Sovereign 680 19.7% Caravan 208-675 21.3% G150 21.4% TBM 850 21.9% CL-605 21.9% G450 22.1% Global 5000 22.4% Piper Meridian 22.8% King Air 350 - Post-2000 23.2% F2000EX EASy 24.1% Citation XLS 25.2% Citation CJ3 26.6% Citation Encore 26.6% F2000EX 27.9% Caravan 208 30.0% Nextant 400XTi 30.2% G550 30.7% Citation CJ2+ 525A 31.3% Embraer Legacy 600 31.7% King Air B200 Post-2000 32.9% Global XRS 33.6% GV 33.6% Learjet 40 33.7% King Air 350 - Pre-2001 33.7% Hawker 900XP 34.7% Learjet 60XR 35.4% F900EX 35.4% CL-300 36.3% Learjet 45XR 36.5% F900C 36.7% Citation CJ1+ 36.8% Caravan Grand 208B 37.5% Citation Mustang 510 39.8%

Citation Excel 560XL Hawker 4000 Citation CJ2 Piaggio P-180 II Phenom 100 G200 Hawker 400XP King Air B200 - Pre-2001 Hawker 850XP F50EX G400 Citation V Ultra King Air 300 Global Express Hawker 750 Learjet 45 w/APU CL-604 F2000 Premier 1A Learjet 40XR TBM 700A Citation V 560 Hawker 800XP Citation CJ1 Premier 1 Hawker Beechjet 400A Citation VII Hawker 1000A F50 Learjet 60 King Air C90 Citation VI F20-5 Learjet 45 Learjet 31A GIV Piaggio P-180 GIV-SP CL-601-3R Hawker 800A G100 Hawker Beechjet 400 Citation ISP Citation II Learjet 55 CL-601-3A Citation Bravo Hawker 125-700A Learjet 36A Learjet 31 Citation III Learjet 35A CL-601-1A GIII

41.2% 41.7% 44.0% 44.8% 46.8% 46.9% 48.3% 49.5% 50.9% 52.2% 54.0% 55.6% 55.8% 58.5% 59.3% 61.6% 61.8% 62.3% 64.5% 65.8% 68.5% 69.3% 71.8% 71.9% 72.5% 74.9% 82.5% 102.8% 105.7% 107.1% 108.3% 109.5% 109.9% 111.1% 111.3% 114.3% 118.5% 121.6% 132.4% 134.1% 134.3% 137.4% 143.1% 146.9% 154.5% 183.6% 199.5% 207.2% 209.8% 211.3% 215.9% 281.6% 321.2% 421.2%

Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of June 30 2021 page 24

Source: JETNET (www.jetnet.com) Asset Insight, LLC (www.assetinsight.com)

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MARKET INDICATORS

Large Jets

Mid-Size Jets

Ask Price vs. Maintenance Exposure

$ Millions

$3.40

$1.28 $1.26

$2.93

$3.00

$1.24

$2.80

$1.22

Jun-21

May-21

Apr-21

Mar-21

Jan-21

$1.23 Feb-21

$2.60

Dec-20

Jun-21

Apr-21

May-21

Mar-21

Jan-21

Feb-21

Dec-20

Nov-20

Oct-20

Sep-20

Jul-20

$2.90

$3.20

Nov-20

$3.10 $3.00

Aug-20

$11.2

$3.20

Oct-20

$11.7

$1.30

Sep-20

$12.1

$3.60

Jul-20

$12.2

$3.30

Aug-20

$3.23

$ Millions

Asset Quality Rating

Scale -2.500 to 10.000

5.800 5.400

5.324

5.700

believes availability across the entire model spectrum to be even lower. Demand continues to fuel sales of lower-quality assets. While one might think lower pricing is aiding the sale of such equipment, buyers are generally not the ones holding the better hand when it comes to pricing. Patience and detailed analytics are key to securing a valuebased asset for buyers. Some entities seeking younger, lower-time aircraft, have resorted to making unsolicited offers, especially within the Large Jet sector. This might accelerate a prospective buyer’s search for their ‘ideal’ aircraft, but the strategy is likely to invoke greater cost. Large Jets: Availability for our 43 tracked models ended H1 2021 at 6.9%, which translated into a YTD availability decrease of 20.6% (89 fewer units) and a YoY decrease of 31.2%. The Quality Rating remained basically unchanged at 5.772, maintaining the Large Jet fleet well within ‘Outstanding’ territory. However, Maintenance Exposure worsened (increased) to a 12-month high figure, financially demonstrating that, even though the picked-over fleet is not facing a greater number of near-term maintenance events, completion of maintenance events will be more expensive. The average Ask Price decreased 1.9% from May’s 12month high, but pricing was up 7.0% in Q2, 3.4% YTD, and 0.8% YoY. Meanwhile, the ETP Ratio actually improved to 61.1% from May’s 63.6%, placing it about half-way between the group’s 12-month average and low figures. The news if you’re a seller is good. If you are a buyer, there is still ample availability on some models, while others will

24 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

5.300

Jun-21

May-21

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

5.200 Jul-20

Jun-21

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-20

5.500

May-21

5.573

5.600

require patience (or for buyers to pay more to secure a unit from its existing owner with an unsolicited offer). Mid-Size Jets: Posting the largest YoY inventory decrease among the four groups (-43.4%), Medium Jet availability has decreased 26.3% YTD (-137 units). Just 6.9% of the active MidSize Jet fleet is for sale across the 45 tracked models. Asset Quality stood at 5.324, well within the ‘Excellent’ range. This was down 0.4% from May, and slightly below the group’s 12-month average. Meanwhile, Maintenance Exposure decreased (improved) 0.8% to post the best figure for the past twelve months, as well as a 2.2% improvement YoY. The average Ask Price fell 0.7% for the month, 5.7% during Asset analytics Q2, 5.6% YTD, andInsight 7.1% YoY, while(www.assetinsight.com) the ETP Ratio held up well through all these changes, worsening just a bit to 68.8% compared to May’s 12-month best (lowest) 68.6%. Mid-Size Jet buyers are strongly urged to work with an experienced broker to help ensure they are acquiring a valuebased aircraft. Light Jets: The group’s ETP Ratio continues to be stratospherically high at 113.5%, even though that is the lowest (best) figure during the past four months. Light Jet Asset Quality posted a 12-month low (worst) figure in June, barely maintaining the group’s ‘Very Good’ rating – but Maintenance Exposure struck a 12-month low (best) figure by decreasing 9.2% (even though that still left Exposure 11.4% higher YoY). Average Ask Price was down 0.7% for the month, 5.7% during Q2, 5.6% YTD, and 7.1% lower YoY, and, as was the case in April,

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Light Jets

Turboprops

Ask Price vs. Maintenance Exposure

$ Millions

$1.60 $0.95

Apr-21

Feb-21

Mar-21

Jan-21

Dec-20

Oct-20

Nov-20

Sep-20

$1.50

Aug-20

$1.55

$0.85

Jun-21

Apr-21

Mar-21

Jan-21

Feb-21

Dec-20

Oct-20

Nov-20

Sep-20

Aug-20

Jul-20

May-21

$1.54

$1.60

$0.55

Jul-20

$1.70 $1.50

$1.65

$1.05

$1.80

$0.60

$1.67

$0.50

Jun-21

$1.90

$1.70

$1.15

$0.99

May-21

$2.00

$ Millions

Asset Quality Rating

Scale -2.500 to(www.assetinsight.com) 10.000 Asset Insight analytics

Scale -2.500 to 10.000

5.300

5.187

5.200

5.100

5.065

5.000

5.100

4.900

Asset Insight analytics (www.assetinsight.com) Asset Insight analytics (www.assetinsight.com)

the average Ask Price for a Light Jet has fallen below that of a Turboprop. GivenAsset all of Insight the above, surprisingly Light Jets analytics (www.assetinsight.com) continue to sell well, with the group posting the greatest YTD inventory fleet decrease at 28.0% (155 units), along with a 43.2% decrease YoY. For the 29 models we track, 7.1% of the active fleet is listed as being for sale. The problem for sellers is that some of these aircraft have been on the market for nearly two years.

Turboprops: There are multiple reasons why availability for the 17 Turboprop models Asset Insight tracks equates to only 5.8% of the active fleet. First, and foremost, the group’s ETP Ratio stood at 42.3% in June – higher (worse) than the 40% demarcation point, but sufficiently low to make it viable for sellers and buyers to reach agreement. While the group’s Quality Rating may not be dramatically aiding the sales effort, residing only in the the ‘Very Good’ range at 5.187, June’s figure represented a 1.7% improvement over May, and a 6.7% improvement YoY. At the same time, Maintenance Exposure decreased (improved) 1.8% for the month

Jun-21

May-21

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Asset Quality Rating Key Outstanding Excellent 5.500 5.250 or to Greater 5.499

Very Good 5.000 to 5.249

Good 4.750 to 4.999

Below Average Average 4.500 Less to than 4.749 4.500

and 1.7% YoY. All of this led to a 12-month high average Ask Price, equating to a 4.2% increase for the month, 3.2% during Q2, 4.2% YTD, and 8.3% YoY. Units listed for sale decreased by 81 for the year, equating to 19.9% YTD and 32.6% YoY. Sellers definitely hold the better hand here, although the total number of listings provide a greater selection for buyers than the percentage of the active fleet figure might appear to intimate. MI www.assetinsight.com page 26

TONY KIOUSSIS is President & CEO of Asset Insight, providing valuations, audits, analytics and consulting services, and a uniform methodology for grading an aircraft’s maintenance condition. Previously he worked with GE Capital’s Corporate Aircraft Finance group; Jet Aviation; and JSSI, developing the “Tip-to-Tail” airframe maintenance program. https://www.linkedin.com/in/tony-kioussis-a366b28/

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Aug-20

Jul-20

Jun-21

May-21

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

4.800 Jul-20

5.000

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MARKET INDICATORS

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available, and it takes more time to produce a finished airplane. Like a building stripped down to its studs after a natural disaster, aircraft manufacturers can and should take advantage of the rebuilding opportunity. They can do so with tested and secured supply chain software and hardware that automates the specialized needs of the aerospace industry.

But even outside a trusted and connected community, manufacturers at the physical supply chain level can now install a variety of tested IoT devices designed for specific supply chain needs. These devices augment workers while replacing clipboard and papertracking with accuracy and speed that come through automation. Secure IoT technology provides the ability to automate inventory. Specialized software provides real-time data that can be aggregated and acted upon to make immediate decisions such as where to work, setting customer expectations, or allowing for changes in timing and delivery. Today’s supply chain automation includes intelligent RFID tags on parts and tools, dock doors, dollies, and tool cribs, to name a few. Authenticity of paperwork is backed by software to allow for blockchain security, visibility, and 24/7 access. Aerospace struggled with visibility and delays prior to the pandemic. The industry is a global juggernaut with components built around the world, all needing to meet a variety of federal and foreign safety regulations. Today’s IoT technology, supply chain-specific software solutions, and blockchain capabilities, empower aerospace suppliers to restart the now re-emerging manufacturing lines.

Blockchain Security

‘Where’s My Stuff?’

Silver Linings for a Post-COVID Aerospace Industry Aerospace manufacturers and suppliers that have survived the pandemic’s global aviation decline have a once in a business

lifetime opportunity, says Rusty Coleman. As air travel returns, along with the associated demand for parts and planes, this is the time to assess your business functions…

ncluding both Business Aviation and the scheduled airlines (plus their associated services), the aerospace industry shed 100,000 jobs at the height of the US shutdown in April 2020. One multinational conglomerate alone lost 13,000 employees from its aviation unit. The loss of workers and their specialized knowledge and skills has been compounded with shortages up and down the supply chain. There is a silver lining, however. Just like a community that rebuilds stronger after a natural disaster – with buildings constructed to new codes, improved safety processes, and lessons learned aerospace can do the same and start with its foundation – the supply chain.

The 2021 Aerospace Supply Chain The aerospace supply chain is unique. Over 450,000 parts make up an airplane, meaning thousands of different parts are circulating in just one day. The manufacturing industry is no longer at full capacity and a manufacturer’s estimated build time assumes all the parts are available, authenticated, secured, monitored during transport, and arrive undamaged. Add trained workers and specialized tools that also need to be 26 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

A supply chain dream state is one where an entire community, from OEMs through tier suppliers, are in full communication sharing parts genealogy, inventory, delivery status, FAA-required paperwork and more. Current technology allows for the essential layer of blockchain security that is no longer a nice-to-have, but an almost necessary step to ensure authenticity and security.

Component delays are expected to continue, but with proper supply chain technology and use the age-old question “where’s my stuff?” now has answers – answers that are often hard to see in complicated systems. Now is the time to investigate technical solutions to build back better processes and prepare for a changing industry. MI www.surgere.com T

RUSTY COLEMAN is Surgere’s VP of Digital Transformation. He supports supply chain solutions for clients in the automobile and aerospace industries. Surgere is an industry pioneer leveraging IoT technology to revolutionize the supply chain. Founded in 2004, Surgere is headquartered in Green, Ohio, with a second office in Aguascalientes, Mexico.

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Jet HQ inventory FP August.qxp_Layout 1 19/07/2021 12:13 Page 1

Your Headquarters for Global Aircraft Sales

OFF MARKET 2007 LEARJET 45XR • Next Gen Avionics: ADS-B Out, • TCAS II w/ Change 7.1 • A1-A6 Inspections • Engines and APU Enrolled on MSP

• New 8 Passenger Interior • Seating- June 2021 • ATG-5000 WiFi

2009 HAWKER 900XP • Serial Number: HA-0090 • TT: 2,610.5 • Total Landings: 2009 • FDR & CVR • ADS-B Out & RVSM

2013 NEXTANT 400XTI • Serial Number: RK-244 • TT: 1,671 • Engines on Programs- TAP Blue

• Collins ProLine 21 Avionics Suite • ADS-B Out/WAAS/LPV • Aircell GoGo Biz with ATG-4000

2006 AIRBUS EC 120B • Delivers with Fresh E, F, G • Inspections & Landing • Gear OH

• Serial Number: 1436 • TT: 4,153 • Total Landings: 16,317 • Excellent Paint and Interior • Air Comm Air Conditioning

2004 EUROCOPTER EC-130-B4 • Serial Number: 3802 • TT: 2,636.07 • Total Landings: 4,099 • Six Passenger Configuration • Always Hangared

• Freon Air Conditioning • Freshly Refurbished Interior – • June 2021

• Impeccable Maintenance • History • 144 Month Inspection • Completed (2018)

Market Insights 1 JULY21.qxp_MARKET INSIGHTS 20/07/2021 11:30 Page 1

MARKET INSIGHTS

Market Insights: Don Spieth, General Aviation Services

What are the latest trends and indicators of note in the pre-owned business airplane marketplace? AvBuyer’s Matt Harris spoke with Don Spieth at General Aviation Services to ask for his market perspectives… eneral Aviation Services, a full aircraft brokerage and consulting services firm that also buys aircraft for its own inventory, has offices in Palatine, Illinois, and at St Paul Downtown Airport in Minnesota. Having been trading for more than 50 years, the company has amassed a wealth of expertise, and today specializes in all turbine-engine markets from turboprops all the way up to Large Jets. In a typical year, the General Aviation Services team can expect to buy and broker anywhere between $20m to $50m in aircraft assets, depending on how the economy is performing. The General Aviation Services team consists of sales professionals and market researchers who offer expertise in specific markets, “but we work together to keep everyone informed, to better serve our customers,” Don Spieth tells AvBuyer. “Our client base consists of High Net Worth

28 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Individuals with one aircraft, and also Corporate Aviation flight departments responsible for a larger fleet of aircraft.” Don’s own career began in energy services and power generation, including gas reciprocating engines, turbines, and aero derivatives. Then, almost 10 years ago, he joined the Van Buren Advisors team, an analytics firm that specializes in quantitative analysis in the financial industry. “We partnered with General Aviation Services and AMSTAT to create an Aircraft Valuation tool to predict aircraft values by analysing historical business jet transaction data, and the macroeconomic influences that impact aircraft values,” he recalls. Having developed the tool for commercial use, an opportunity arose to join Greg Duckson and the General Aviation Services team to help clients understand aircraft values and market dynamics in Business Aviation. www.AVBUYER.com

Market Insights 1 JULY21.qxp_MARKET INSIGHTS 20/07/2021 11:31 Page 2

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Today, Don is Vice President of Sales and Analytics for General Aviation Services, and it’s in this capacity that he took time out to speak to AvBuyer, sharing his perspectives on the pre-owned business aircraft market today… AvBuyer: Don, what are your thoughts on today’s pre-owned market? How have the first few months of the year played out in your view? DS: The pre-owned market has performed quite well over the past few years, and has done especially well in the past six- to nine-month timeframe. The COVID-19 pandemic created a demand shock – as evidenced by the accelerated transactions in Q4 2020 producing a record high volume of transactions (45% above the highest previous Q4, and over 70% greater than the previous 10-year average). We saw a brief pause in early January and February, due to preferred inventory shortages, but the market has subsequently continued on the momentum seen at the end of 2020. We expect to see pre-owned sales continue, as the industry demand for new aircraft from OEMs also grows. www.AVBUYER.com

AvBuyer: Have there been any surprises for you in terms of the way the way things have gone this year? DS: I’ve been amazed at how much better the industry has been able to communicate and respond [to the COVID pandemic]. For example, during the 2009 recession, there was little transparency and communication. Aircraft values were in free-fall and the pre-owned market had to cope with white tails created by speculative builds and purchases, as well as cancelled orders [placed with the OEMs]. In contrast, during the past year our industry has done an incredible job to utilize data and provide decision-making guidance regarding market dynamics. I also think that the business jet OEMs have done an outstanding job, acting with far greater discipline than during the 2009 recession. AvBuyer: We’ve heard differing opinions on whether there’s been an increase in aircraft values on the market recently. What are you seeing? DS: What various brokers and market-players are calling an ‘increase’ can be better described as a

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AVBUYER MAGAZINE Vol 25 Issue 8 2021

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MARKET INSIGHTS

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“This is a great market for those aircraft owners that need to upgrade to a model that better fits their travel profile.“ recovery of lost value. From 2012 to 2014 the pre-owned market started to recover, but it never saw the full recovery that the S&P 500, real estate, and other high value assets did. We believe that the pent up “real value” of aircraft has recently recovered, and that there is still room for further increase on certain, preferred models. But several factors feed into this, including the limited production of new aircraft over the past 10 years. AvBuyer: How would you predict the last part of 2021 playing out in terms of pre-owned sales? And, in your view, what needs to happen (or not happen) to make your prediction materialize? DS: ‘Utilization data’ tells us that there will be continued momentum in pre-owned aircraft sales to meet the demand in the marketplace. As I’ve already mentioned, the data also tells us that the value of preferred aircraft will continue to recover through 2021. In order for this to happen, flight departments will need to ‘normalize’ and return to regular operations during the coming months. Corporate flight departments will also need to determine their longer-term fleet plans, and begin to procure new aircraft. In order to continue the current momentum, the pre-owned market needs inventory. Prior to 2020, the average holding time of a newly-purchased aircraft was just over five years before an owner would sell it on the pre-owned market. In the past six months, the average holding

MATT HARRIS is commissioning editor for AvBuyer. He is an experienced General and Business Aviation journalist and has edited a variety of titles across the last two decades. These include AvBuyer, BizJet Advisor and GA Buyer Europe.

time for new aircraft purchased has increased to six years before it is placed for sale on the pre-owned market. AvBuyer: What one piece of advice would you give to a) buyers, and b) sellers on how to play today’s market to their advantage? DS: For buyers, I would suggest that they give the market an honest look and realize that it has recovered some of its value since the discounts that were created by the initial COVID-19 lock-down. This means that an aircraft they could have purchased last year is probably more expensive now. It’s important for buyers to determine the true value of an aircraft, and present an offer that is in-line with its market value, to avoid chasing the market up. They also need to be flexible on terms, without sacrificing the attention to detail and discipline needed in the pre-buy inspections. I would suggest sellers work with a trusted broker that can identify potential buyers who are serious; one who understands how to get the deal done in the right manner. While this sounds simple – and it is – simple doesn’t mean easy. There is a number of important steps needed to complete a successful transaction in the best timeframe. This is a great market for those aircraft owners that need to upgrade to a model that better fits their travel profile. Buyers are more likely to show flexibility in delivery, so sellers can ensure that they have an aircraft to move in to. More information from www.genav.com T

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30 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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Hatt & Associates August.qxp_Layout 1 21/07/2021 12:04 Page 1

2011 Hawker 4000 S/N: RC-62. Reg: N21FX • 3,031.9 hours since new • Engines enrolled on ESP Gold / APU enrolled on MSP Gold

• Next Gen Avionics ADSB-Out, TCAS 7.1 E, F, and G Insp. Completed • ATG-4000 WiFi in September2016 by Standard Aero • Asking Price: $3,595,000

Teflon Coating completed in 2017

Unique in Experience, Global in Scope. 2008 Hawker 4000 S/N: RC-11. Reg: N1119K • Asking Price: Make Oﬀer • 5,600 hours since new • Engines enrolled on ESP Gold • Next Gen Avionics ADSB-Out, TCAS 7.1 • ATG-5000 High Speed Internet • Painted April 2018

1983 King Air F90-1 Off Market • • • •

8,963.7 hours since new 2nd Garmin GTN 750 GPS Garmin GDL-69 XM Weather Recent Hot Sections and Propeller Overhaul • New Interior in 2019

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2007 Learjet 45XR S/N: 45-346 • Asking Price: USD $2,495,000 • 9,046.54 hours since new • Engines and APU enrolled on MSP • Next Gen Avionics ADSB-Out, TCAS 7.1 • Delivered with recent A - D Inspections • Paint and Interior Refurbished in 2016

Market Insights 2.qxp_MARKET INSIGHTS 16/08/2021 11:44 Page 1

MARKET INSIGHTS

What’s the Latest on the King Air Market? How is the pre-owned Beechcraft King Air market performing currently? Matt Harris speaks to Jeremy Cox and Tony Kioussis to get their insider’s insights and tips for buyers and sellers… he same year the Beechcraft King Air hit the market, charttoppers ‘I Want to Hold Your Hand’ (The Beetles) and ‘Oh Pretty Woman’ (Roy Orbison) rang out over the airwaves. And though Mary Poppins was the highest-grossing movie of the year, her novel mode of transportation by umbrella was unimpressive compared to the new twinengine turboprop emerging off the production line in Wichita, Kansas. The year was 1964, and the King Air 90 had just been certified. But nobody then could have expected that aircraft to spawn a family of more than 20 upgrades and variations – each one broadening the capabilities of the former, or tapping into new markets and mission needs. As of today, over 7,500 King Airs have rolled down the production line and into the hands of a truly diverse range of owners. Without much fanfare, the 90-series only ended production in early 2021. “You just have to look at their track record,” Jeremy Cox, Senior Accredited Appraiser and President of JetValuesJeremy told AvBuyer. “Almost half of the early King Air 90, King Air A90 and King Air B90 models are still in-service today. What keeps them appealing on today’s market? They’re rugged and dependable, providing amazing value for money.” According to Tony Kioussis, President of

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Asset Insight, “The aircraft has been an industry workhorse since its introduction to the market, due to its reliability, payload, and range capability. Their value retention down the years has been exceptional.” [Cox notes that older King Airs are retaining residual values above 40% – or between 40%60%, to be more precise – which is pretty good compared to many business jets.] “While it is difficult to identify twin-engine turboprop contemporaries for pre-1990 King Air models,” adds Kioussis, “overall values have held up relatively well for the older King Airs, especially when you consider their age. “But buyers need to run detailed maintenance analytics before committing to any aircraft,” he warns. “These older, pre-1990 King Airs may have lower prices, but they don’t all represent good value when you factor future maintenance costs.”

An Attractive Combination

With so many variants of King Air models produced down the years, and agreement that they’ve performed remarkably well on the preowned turboprop market, which particular models are catching the eye? “From a marketability standpoint, the King Air B200 models produced after 2000, the King Air 350, and the King Air 350i are the most eyecatching, based on their Maintenance Exposure to Ask Price (ETP) Ratio,” Kioussis reveals. Asset Insight uses the ETP Ratio as an indicator of an aircraft’s marketability, deriving the ratio from dividing an aircraft’s Maintenance Exposure

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(the financial liability accrued with respect to future scheduled maintenance events) by its Ask Price. “Having said that, pre-owned market availability across all of our tracked King Air models is only 5.6% of the active fleet, and all have been actively trading,” Kioussis adds. “An original King Air C90 can easily be upgraded to a King Air C90GTx look-a-like, for about a quarter of the price of a new aircraft,” Cox shares. “The same goes for an old King Air B200, which can be made to look like a King Air 250. For that reason, I’d say those two models are catching my eye.”

The Impact of New-Model King Air Upgrades

As mentioned, production of the King Air C90GTx ceased without ceremony earlier in 2021, while Beechcraft focussed on updating its King Air 250 and 350 series with the King Air 260 and 360, respectively. Some owners may naturally be wondering what the impact will be on their older aircraft – particularly owners of the now out-of-production King Air 90-series. But Cox offers some reassuring words: “When you consider the upgrades available to the 90 Series, it’s fair to predict that the 90-series will stay solid for a very long time,” he says. “Take, for instance, the Blackhawk 135A engine upgrade that is available; swept blade propellers, pitot cowls with aerodynamic stacks, nacelle wing lockers, and dual aft-body strakes.

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“Sellers can extract value from their asset in the current market, assuming they understand the condition of their asset relative to other available units.“ “With myriad avionics retrofits like FADEC, EFIS, doppler weather radar also available, there are plenty of options for King Air owners to keep their older aircraft up-to-date, functional, and attractive on the market.” “Upgraded models will certainly have greater market appeal,” Kioussis adds, “and they are likely to achieve higher pricing – but keep in mind that all King Air turboprop models are in demand at the moment. “Buyers may prefer an upgraded aircraft, but they are not necessarily in the driving seat when it comes to pricing – and that includes older models.”

Tips for Buyers and Sellers of King Airs

Given the market today, there’s good reason for both sellers, and buyers in the King Air market to be tactical. Some sellers will have thought carefully about their strategy and have a genuine need to sell, but Cox warns those who see only

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the higher sale price as their motivating factor. “My first question to sellers is ‘Do you really want to sell?’” Cox reveals. With the current ‘bull market’ much akin to a latter-day ‘Gold Rush’ in Cox’s view, “sellers need to consider whether they will get value for money by selling their King Air and buying another aircraft at this time. “Sometimes it’s better to spend the money with an MRO to upgrade, instead of going the traditional route, usually to buy a step-up aircraft that already has the upgrades that you’re seeking,” he suggests. And Kioussis advises sellers not to become greedy. “Sellers can extract value from their asset in the current market, assuming they understand the condition of their asset relative to other available units. Remember, sellers (and their brokers) will still need to justify a figure that appears to be high. “We are constantly surprised at people’s pricing expectations – both high and low – based

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on the maintenance quality and equity we see on their aircraft, compared to the market average.” And at a time when the fleet for sale percentage for all King Air models is low, Kioussis encourages buyers that the number of units listed for sale still continues to provide choice. “No matter what the seller is expecting relative to pricing, a buyer can justify their offer price if they base it on the aircraft’s specification and maintenance condition,” Kioussis explains. “That assumes the buyer runs the necessary – and inexpensive – analytics. “If, as a buyer, you are not able to do this, an experienced broker should have little trouble providing you with the information you need to make a solid, reasonable offer that can be justified,” he concludes. T More information from: Asset Insight (www.assetinsight.com); and JetValues-Jeremy (www.jetvaluesjeremy.com).

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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.

JEREMY COX is the President, Senior Appraiser and Expert Witness at JetValues Jeremy, LLC – an aircraft appraisals company that he founded in 2019. Very active in the aviation industry, he holds valid A&P, IA, and FCC Licenses, and a Commercial Certificate with Instrument Rating.

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How to Minimize BizJet Residual Value Anxiety René Armas Maes asks what are some of the ways that an owner or operator can minimize their residual value concerns? reviously, Rene Armas Maes discussed how business aircraft buyers can save money and optimize their operations, whilst considering the hidden cost of an aircraft’s residual value (AvBuyer July edition, p42). But what are some of the ways that an owner or operator can minimize their residual value anxiety? Aircraft residual values depend on many factors, including general economic conditions; an aircraft’s make and model; and the condition of the preowned aircraft market at the time of the sale, among other things. Market downturns inevitably weaken aircraft residual values, negatively impacting the cost of ownership. Certain aircraft types, models and cabin segments are more impacted than others. For example, when it comes to residual values, historically speaking the Very Light and Light Jet sectors have been hit harder than others. Following, we will consider ways for potential aircraft owners to limit anxiety regarding business aircraft residual value, whether they’re planning the purchase of a fractional share, or they’re taking ownership of a factory-new aircraft.

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A Wide-Spread Concern

Residual value anxieties are a real concern not only for buyers of factory-new aircraft and fractional share owners, but also for pre-owned aircraft buyers and the business aircraft Original Equipment Manufacturers (OEMs) themselves. On the one hand, aircraft owners or fractional share buyers want to protect their investment and reduce the cost of ownership when factoring in the amount they will receive when the time comes to sell their asset or dispose of their share. On the other hand, OEMs want to limit the residual value impact over time, especially as this enables them to firm-up prices for their brand-new aircraft portfolios. One way for the OEMs to protect themselves is to seek insurance or collateral, covering unforeseen asset value losses when negotiating financing and sales guarantees with customers.

Residual Value Guarantees (RVGs)

RVGs are nothing new in the commercial airline world including for regional aircraft and turboprop aircraft used by scheduled airlines, and are typically structured for a time period of 10 to 15 years. www.AVBUYER.com

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In Business Aviation, the time period is usually five to eight years. As an example, a scheduled airliner OEM may offer a RVG for a new aircraft, and provide the aircraft owner with a predetermined amount when it decides to sell the asset when the aircraft’s residual market value is lower than originally forecasted. As a matter of fact, Business Aviation OEMs may offer several sales incentives, and financing support guarantees to help enhance the ability of certain customers to arrange third-party financing for their acquisitions and to expedite sales, including credit guarantees, trade-in options, lease subsidies

(where applicable) and Residual Value Guarantees. Indeed, extra OEM flexibility and stronger buyer negotiating power can be expected more for large, multi-aircraft orders than for a single aircraft order, unless the latter is viewed by the OEM as a strategic sale or customer, or sometimes on products such as Ultra-Long-Range jets. The rationale from an OEM’s point of view is simple: Those incentives are instruments to help smooth the way for key deals. But the risks to the OEM increase in terms of potential market exposure, with liabilities that could end up reducing profits and margins.

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CHART A: How OEMs Build Provisions to Minimize the Impact of Certain Sales Incentives !"#$%&%' ()*+,-".'' /#0)1&2+' !"#$#%&'(%)*+' ' 72+8$* ' ' ?+1$8&".'3".&+

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BUYING & SELLING AIRCRAFT

Negotiating a Favorable RVG

A typical RVG in Business Aviation will be offered upon the expiry of certain financing agreements, which provide a contractual limited payment to the guaranteed party under certain negotiated terms and conditions. OEMs treat RVG negotiations as confidential which are executed on a one-to-one basis for a specific aircraft order, operator, and aircraft type/model, for example, in a set timeline. For buyers to strengthen their negotiating power, they need to investigate: • • • •

How an OEM calculates the intended aircraft’s purchase residual value; What methodology is used, and what specific calculations are executed to derive the residual value number; The intended aircraft’s residual value curve, reflecting specific factors of the current aircraft market in the medium- and long-term. It is essential to understand the OEM’s residual value assumptions, and specific details in order to negotiate a win-win RVG clause if applicable.

Fractional Ownership & Fair Market Value…

On the other hand, and when considering buying a fractional share, fractional ownership programs guarantee a share buy-back option, based on an estimated Fair Market Value (FMV) upon the expiration of the contract (typically a 5-year period). 40 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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But from a fractional owner’s perspective, the key question is “what constitutes an aircraft’s FMV at the end of the contract?” To avoid future disputes, potential share buyers need to understand how this will be calculated. While it is true that fractional share owners bear the risk of the residual value at the end of the program, like whole aircraft owners do, it is important to understand that fractional ownership aircraft are typically flown between 800 to 1,200 hours annually (compared to 250 to 400 hours annually for a wholly-owned aircraft). A fractional plane will accumulate more hours, cycles and equipment wear and tear than an average Part 91 aircraft. Overall higher aircraft utilization and typically six-to-eight shared owners per aircraft will penalize the initial share price. Therefore, share owners can expect lower-thanaverage residual values. As an example, as advertised by Jet It (a fractional ownership provider which operates a fleet of HondaJets), 44% of the initial share value is guaranteed at the end of the share-owner’s contract. However, many fractional ownership programs offer the chance to opt out of the program before the end of the agreed term (for a penalty fee), and still offer guaranteed residual values. For instance, and again in the case of Jet It, if a share owner exercises the option to leave at the end of Year 3, it is guaranteed 50% of the initial share value, while at the end of Year 4 the amount is 46%.

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BUYING & SELLING AIRCRAFT CHART B: Strategies for Negotiating Better Residual Value Clauses

Privately Owned Aircraft / Fleet

•  Large fleet operators are better positioned to negotiate RVG agreements. OEMs may be more flexible to negotiate a guarantee for larger cabin segment products than for smaller ones.

•  Key to understand how OEMs calculate residual values and their methodology.

•  Agree on an independent appraiser for a potential residual value dispute.

•  Investigate other large aircraft purchases. Talk to the buyer. Any special RVG treatment?

•  Be aware that an RVG may be made only upon resale of the underlying aircraft.

•  An aircraft launch customer, or the first 50 orders, may have stronger RVG negotiating power.

•  Others.

Fractional share

•  Find out the typical Y1 to Y5

value depreciation of the aircraft model/type. Adjust expected residual value based on higher aircraft usage.

•  Investigate how residual value is calculated and how many hrs. p./yr. are flown for intended share purchase.

•  Talk to previous share owners.

Understand their initial share value and residual value impact vs. the global economy and preowned market.

•  Find out if the provider received any RVG from the OEM as it may help you to negotiate a “better fit” RVG clause.

•  If possible, benchmark and

negotiate RVG clauses with multiple fractional providers.

•  Agree on an independent

appraiser for a potential residual value dispute.

•  Others.

If you are considering buying a fractional share, first investigate and understand: • •

How the fractional provider determines an aircraft type/model’s residual value; What assumptions are made.

Chart B shows a number of initiatives that can be used to help minimize the “residual value anxiety” both from a brand-new aircraft owners, and fractional share purchasers.

In Summary…

In my opinion, residual value anxieties may play a more important role when buying a fractional share than for a brand-new aircraft purchase – especially if your contract ends during a market downturn. But even then, there are potential solutions if you still have the need to travel. This could include choosing to extend your share contract for another two to three years, with a view

to capitalizing on a stronger economy and stronger residual value. To completely avoid the residual value conversation with potential owner, Business Aviation providers may choose to implement other strategies and business models. One example would be where a number of flight hours are offered with no buy-back component (such as for a jet card product, or an operating lease by which neither a share nor asset depreciation is applicable from a user point of view). Finally, it is wise to agree on a third-party appraisal, especially when the difference between the owner’s and the guarantor’s chosen appraisers is significant. Essentially, reducing residual value anxiety requires knowledge of the pre-owned market; the ability to manipulate key market intelligence and technical data; and a clear understanding of the RVG terms and conditions negotiated in the first place. Doing your homework before agreeing and signing any contract is key. T

RENÉ ARMAS MAES is vice president, Commercial at Jet Link International LLC and an international consultant with a broad experience in business aircraft sales. He has developed multiple analyses and studies for a number of US Fortune 500 companies and Venture Capital firms, and participated as keynote speaker at a number of business aircraft conferences. https://www.linkedin.com/in/ren%C3%A9-armas-maes-4935b842/

42 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

“...it is important to understand that fractional ownership aircraft are typically flown between 800 to 1,200 hours annually (compared to 250 to 400 hours annually for a wholly-owned aircraft).”

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How Not to Save Money Ahead of a BizJet Sale What are some common mistakes business jet sellers do that unintentionally limit their pool of prospective buyers? Dave Higdon shares some insights… orporations can occasionally make decisions to save money that they later regret, after those decisions end up costing them more money than they saved. Such dichotomies occur at all levels of business and personal life, usually because of a knee-jerk reaction to some stimuli. In Business Aviation, buyers and sellers can sometimes risk jeopardizing a transaction because decisions that supposedly “save them money” impact the prospect of getting the aircraft financed, or cost the buyer in some other way. Indeed, it’s because of the potential for these known unknowns to impact the options for financing the transactions, that business aircraft experts counsel using professionals to help manage the purchase – or sale – of a business jet or turboprop.

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Short-Term Gain, Long-Term Loss

Let’s start with the oft-repeated discussion about whether to continue with an hourly maintenance program once a decision is made to sell the plane. These programs help insulate operators from expensive surprises when it comes to engine, airframe, avionics, and APU maintenance. Coverage varies, depending on the program and the level selected (it’s important to know exactly what the program covers). The most comprehensive coverage comes in the form of a ‘tip-to-tail’ program incorporating everything. Other programs may cover only one of those elements. Financing entities like these programs because they can boost the residual value of an aircraft. But many a financing opportunity has gone awry because the seller chose to reduce the operating www.AVBUYER.com

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cost of the airplane for the short-term by dropping the hourly maintenance program. Where a financing deal is still available, the reduced value can be reflected with the requirement for a higher down-payment, higher interest rate, or shorter term of the loan. Potential buyers may look at the less favorable terms and lose interest. Thus, it’s best to stay with an existing hourly maintenance program to leave as many options open for would-be buyers as possible, and enhance your chance of a quicker sale.

Clear Title or No Joy

Another area in which a seller’s past actions may come back to complicate a sale relates to possible title disputes. Many industry professionals recommended checking the Federal Aviation Administration's (FAA’s) file on the aircraft offered for sale – before listing it for sale. That way, if there are issues that could complicate a sale, this would be the ideal time to address them, thereby avoiding an unhappy surprise during the closing process. Title complications can occur for a variety of www.AVBUYER.com

reasons that are wholly related to paperwork on the airplane. A missing signature on a title transfer, or a registration clouded by an erroneous spelling of the owner's name (or the company’s name if so registered) are two examples. Typically these problems can be cleared up with the registered owner filing corrected paperwork with the FAA. Getting this right may require the help of an attorney or a title-insurance firm, however. But it is likely the cost of correcting paperwork problems will be easier to resolve ahead of the closing process – and out of sight of the world, thus reducing the risk of scaring away a prospective buyer. Having ensured all of the paperwork is correct, the seller should then make sure all of the relevant documents are assembled ahead of closing on the deal.

Lien on Me…

Another unwelcome surprise could be lurking in the FAA file on an aircraft – a lien filed against the plane. Liens come in a variety of forms and need to be resolved before a buyer is likely to proceed with

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BUYING & SELLING AIRCRAFT

“An unresolved lien can follow the aircraft and impact the new owner. And, depending on the type of lien, leaving it unresolved can prevent a finance firm from moving ahead with the deal.” a transaction (even if the seller offers to lower the asking price to help expedite the sale). An unresolved lien can follow the aircraft and impact the new owner. And, depending on the type of lien, leaving it unresolved can prevent a finance firm from moving ahead with the deal. Unresolved and undiscovered liens can expose the plane to seizure by law-enforcement officials, and some states allow for the seizure of a lienencumbered aircraft even when it is out of the state in which the lien was filed. The process may vary from state-to-state, but the risk is largely the same. Aircraft can become subject to liens in a variety of ways, but a lien is almost always the result of someone or something – for example, an aircraft-

owning corporation – not paying a debt on time. The debt may be a federal, state, or local tax bill, a gasoline or credit card bill, an amount of money owed to a mechanic for work performed, or any number of other things. And the lien may be filed for something unrelated to the aircraft. The best hedge against being surprised at closing is to proactively check the FAA file on the aircraft – preferably before purchasing the plane. All it takes is a search of the aircraft ownership and title records – and that should include tax lien records – before you make a final decision to purchase. After all, the best surprise is no surprise at all. T

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.

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Contact him via Dave@avbuyer.com

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The First-Time Buyers’ Guide to Jet Cards When might it make sense to step up from ad hoc charter? Could you use your buying power to get more flying time for your hard-earned dollars? David Wyndham discusses... ith the global COVID pandemic, a large number of first-time users have been introduced to the benefits of private aviation. For the infrequent or occasional user, it makes little sense to invest in a whole aircraft, but there are several other options. The following series will aim to cover all of the basics to enable you to make informed decisions over your ongoing use of Business Aviation. The common entry point to using private air travel is ad-hoc charter. An advantage of chartering is that you have access to many different types of aircraft with differing capabilities. Thus, charter users are not restricted to one type of aircraft as would be the case in other ownership scenarios. Ad hoc charter users do not enter into longterm contracts – only an agreement for the booked flight. According to the National Business Aviation Association (NBAA) there are over 2,100 FAA-licensed aircraft charter operators in the US, ranging from small single-engine piston aircraft operators to large turbine fleet operators.

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When to Consider a Jet Card

As mentioned, charter works best for those requiring infrequent trips, or for several trips that are quite different in length and passenger loads, thus requiring aircraft with different capabilities. If, however, you find that your trips are similar in terms of distance and passenger load, and occur frequently, then a Jet Card or Membership Program could be a good option for you. For simplicity, we will use the term ‘Jet Card’, but the contents of this article applies to both. I have a client with one home on the US East coast, and another home on the West coast. He flies the trip between homes every other month, accounting for a total of 10 flight hours per round trip. At 60 annual flight hours, and with a predictable travel profile, my client is in a good position to consider using Jet Cards. Since my client uses a single charter operator, he can consider pre-purchasing charter hours in blocks of time, for a set price. This concept is called ‘Block Charter’. Ultimately, Jet Cards are pre-paid Block Charter arrangements, providing you with a www.AVBUYER.com

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specific number of charter hours at a set price, often with very specific features that go beyond pre-purchased flight hours. The provider of a Jet Card may be a single company (such as NetJets), or a broker (such as Air Partner) that deals with several charter providers. So, what are the advantages and disadvantages of Jet Cards? First, let’s consider what Jet Cards offer.

Jet Card Features

Although program specifics vary from provider-toprovider, a typical Jet Card plan has the following features: • • • • www.AVBUYER.com

A block of flight hours is purchased for a set price. The number of hours can be as low as 10 hours, but are more typically 25-hours. The type of aircraft is specified (e.g. Light Jet), along with a specific service provider or category of provider. There is a single point of contact for scheduling. The price guarantee and length of contract is

•

time-limited (typically one year). Beyond the year, unused funds can still be used, but the price guarantee is no longer in effect. Availability is guaranteed. The lead time required varies with the card program, and it may have peak travel days (such as the Christmas holiday) requiring advance booking.

NOTE: Membership Programs may have different billing practices, such as a monthly membership fee plus an hourly fee.

What are the Advantages of a Jet Card?

Known Cost: Purchasing charter in advance secures a guaranteed price that does not increase during the length of the contract. Many programs do stipulate a variable fuel cost surcharge to account for the volatility of fuel prices, however. Availability: With traditional charter, you do not have a guaranteed aircraft when you call. If the aircraft you require is not available, you may have to book a larger, more costly aircraft, or look

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“If traditional charter works for you and you need between 25 to 100 hours per year, the Jet Card can be a cost effective means of accessing Private Aviation.” elsewhere. With a Jet Card, if your aircraft category is not available, the provider will supply the equivalent or superior aircraft. For example if the Light Jet is not available, you may get a MidSize Jet at the same price. Service Consistency: Using a single provider should enable you to enjoy the same level of service each time you fly. Service levels may even improve as the provider learns your needs and preferences.

Jet Cards: Key Questions to Answer

Before signing up for a jet card, read the terms of the contract carefully, seeking answers to the following questions: •

•

If you do not use the allotted hours during the contract time, does the company refund the unused funds? Can you apply the unused funds to a new card? Does the card have a pre-defined service area? (For example, one client is evaluating charter travel in the US and in Europe. If the card provider can offer charter in both

• • • • •

In Summary…

While there is a handful of major providers offering jet cards, those are not your only options. Doug Gollan provides a useful comparison of jet card and membership programs covering all major, and most of the minor programs at https://privatejetcardcomparisons.com. If traditional charter works for you and you need between 25 to 100 hours per year, the Jet Card can be a cost effective means of accessing Private Aviation. For heavier users of air travel, there are other, more suitable options that we will cover next time. Stay tuned! T

DAVID WYNDHAM is the Founder of David Wyndham + Associates, LLC. He is a highly respected industry veteran having built up more than 36 years of aviation experience, including as president and co-founder of Conklin & de Decker. He is also Vice President, Asset Insight Consulting Services. https://www.linkedin.com/in/davidwyndham/

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regions, that would make the logistics of the trip planning much simpler.) Are the aircraft types or ages guaranteed? Is there a minimum trip length (per leg)? How does the program bill for international travel, fuel cost surcharges, and other fees? How long are the prices guaranteed for? If your travel is frequently one-way with a lengthy stay, does the provider offer one-way pricing?

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Privacy Considerations for Aircraft Owners (Part 2) Aircraft owners must be proactive to protect their aircraft ownership and operating information from public disclosure. Having previously identified some of the key areas where information may be publicly available, James Janaitis, Counsel with Crowell & Moring’s Aviation Group, explores methods to help safeguard your privacy… nce you have understood what information is publicly available that may compromise your privacy in relation to private aircraft ownership and operation, you are primed to consider the strategies you can take to prevent your information from being easily accessed. Fortunately there are a few, as we will explore over the following paragraphs.

Special Purpose Entity

The use of a Special Purpose Entity (SPE) would entail setting up a corporation or LLC in a state of the owner’s choosing, and having the SPE own the aircraft. The FAA Registry would only show the name of the SPE as the owner, so the SPE should have a non-descript name, such as ‘ABC Holdings, Inc’, or ‘N1234, LLC’. Because the FAA does not permit the use of a registered agent’s address on a registration application, the owner would need to include their physical address on the registration 52 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

application, which would then be readily available to the public through the FAA Registry website. Additionally, depending on the state of the organization, some of the information filed when setting up the SPE may be publicly available through the state’s corporate registration database.

Trust Ownership

The other alternative is to own the aircraft in a trust. Trust arrangements are commonplace in the aviation industry, and there is a number of companies that specialize in these products. They generally involve a trust agreement, which creates the trust, and a lease or operating agreement whereby the aircraft is leased from the trust to the individual or company that will operate the aircraft. Trust arrangements tend to be more expensive than using an SPE, with an initial set-up fee and annual fees of a few thousand dollars each. It is also strongly recommended that an aviation www.AVBUYER.com

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attorney review the trust documentation in advance, which adds to the overall cost. How effective are LLCs and Trusts? The use of an LLC or a trust is a relatively simple method of protecting an owner’s information from being readily available on the FAA Registry’s online database. However, with some basic knowledge about the FAA Registry an individual could easily obtain the publicly-available information on the LLC Statement or Trust Documents, as discussed in Part 1 of this series. These methods are likely to protect an aircraft owner’s information from curious people who see an aircraft and want to know who owns it, but are unlikely to protect their information from the press or other, more sophisticated, parties with a particular agenda.

Double Trust Ownership Structure

Another alternative that provides an additional level of privacy is the use of a double trust aircraft www.AVBUYER.com

ownership structure. This involves a standard ownership trust arrangement, but the trustor of the ownership trust is another trust, and not the aircraft owner. This second trust is established in a state that doesn’t require public disclosure of the trustor’s beneficial owner. The cost of utilizing a double trust structure is higher than a standard trust and the complexity of the arrangement will result in more involvement by both tax and legal advisors, with concomitant additional fees associated with that work. How effective is a Double Trust solution? If set up properly, none of the aircraft owner’s information should be publicly available, although the trust company would be required to provide it if requested by the FAA, or in the event of litigation.

Potential Regulatory Risks of Using SPEs and Trusts

A careful legal and tax review of an ownership structure involving an SPE or trust is imperative

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AVBUYER MAGAZINE Vol 25 Issue 8 2021

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“The use of an SPE or trust to own the aircraft can ensure that the general public cannot easily access an aircraft owner’s information.” due to the complex and sometimes counterintuitive nature of the FAA regulations relating to the operation of an aircraft. This is particularly important if the aircraft is used by multiple related or unrelated parties, and where there is any type of compensation involved, which could include capital contributions into an LLC or accounting credits between affiliate entities. Although an SPE or trust can help protect an aircraft owner’s identity, it could easily result in violations of the FAA’s operating regulations if not implemented properly under the guidance of experienced aviation counsel.

In Summary…

As described over these first two articles, there are multiple methods that an aircraft owner can

utilize to help ensure that its ownership and operating information remains private. The use of an SPE or trust to own the aircraft can ensure that the general public cannot easily access an aircraft owner’s information. The use of a double trust structure can further enhance protection of aircraft ownership information. Moreover, taking these steps will provides a basic level of protection from flight tracking software because, while these programs will still show the registration and flight information for the aircraft, only the name of the SPE or trust will be displayed. We’ll explore privacy considerations in relation to flight tracking software in our concluding article next time. More information from www.crowell.com/practices/aviation T

JIM JANAITIS is a counsel with Crowell & Moring’s Aviation practice group. He focuses on helping Business Aviation clients navigate transactions and the complex regulatory challenges that come with owning, operating, and chartering aircraft. He has extensive experience in the sale, purchase, leasing, and financing of aircraft, and implementing ownership and operational structures tailored to each individual client’s goals.

54 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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How to Get a Great Private Flight Experience How can you balance cost with safety to ensure you get the best Business Aviation flight possible? René Armas Maes provides practical insights… rivate aviation offers many types of solution for those seeking to use aircraft without the commitment of whollyowning one. These include on-demand charter, block charter, multiple travel (or jet) card options, shared flights, and scheduled shuttle operations. Beyond charter itself there are options to fractionally own aircraft, or engage in short- and long-term aircraft leases. In the past, charter was the preferred – and perhaps only – solution available to those not wanting to own a jet. Today, micro-segmentation and personalization has drastically increased the

56 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

access levels to private aviation. However, with the increase in the solutions has come an increase in the number of service providers, all looking for a slice of the pie. Therefore, it has become increasingly important for users to analyze the service provider for reliability, service delivery, and consistency.

On Demand & Jet Card Charter

Using on-demand charter means that there is no commitment beyond the specific trip being booked. In contrast, a jet card requires a committed relationship for a set number of charter

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hours over a period of time (i.e. one year), meaning the user can expect a consistent level of service and adherence to safety standards, at a set price. Though the jet card user is not obliged to use all the hours they have booked during that time, they will lose those hours when the jet card expires. For those using ad hoc charter, the non-committal element may work well if they are flying less than 25 hours annually. But if a relationship has not been established with one operator, attention will need to be given to ensuring the best travel experience each time, at the right price, and with adherence to the highest safety standards. This will require the ad hoc charter user to research and obtain new quotes for each new trip, which is likely to be time-consuming. On the other hand, those traveling on ‘high demand’ days may find difficulty obtaining a flight from their preferred provider. Recently, for example, NetJets eliminated peak day access on its new Elite jet cards. Previously, it had placed a 25% surcharge on 45 peak days per year, but this recent development was done to protect its service delivery to fractional share owners on the busiest days of the year.

Shared Private Charter

The shared private jet charter business model can offer important savings for users, but it also presents many limitations. For example, not only does it require at least two parties to agree on the routing, time and date of departure, but users lose the flexibility to change the routing. Moreover, one of the key benefits to private aviation – privacy – is lost. Shared private charter gets more complex depending on the number of people individually buying a seat on the flight. Large jet card programs might allow its program members (and perhaps nonmembers) to buy individual or blocks of seats on scheduled shared flights – particularly when the provider is targeting price-sensitive customers who are aiming to save on a per-seat basis, and who cannot afford to charter an entire airplane by themselves. Scheduled shuttle operations are provided by operators who publish 58 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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commercial schedules just like the airlines do, but offer passengers reduced travel time by operating from small and private terminals. In addition to the above, aircraft operating leases may be favored by some users with specific travel demand for the duration of a key business project, over a specific timeline. The preceding discussion should highlight the need for users to evaluate what travel option is most likely to meet specific budgetary and customer needs, if not whole aircraft ownership. This will require due diligence, factoring the pros and cons of each travel option. (The evaluation framework provided in Table A (left) can help serve as a quantitative and qualitative assessment tool.) Moreover, the information and metrics set out in Table B (right) need to be collected, reviewed and understood by potential owners, and perhaps even by their lawyers (since many vendors will try to simplify matters, using standard contracts). This way, a user can establish what can be negotiated to meet their specific needs, and arrive at the best valuecreation travel solution.

Build a Yearly Budget

It’s important to go a step further and build a multi-yearly budget that includes the total cost per flight hour for each option, using a number of assumptions (i.e. the percentage of travel in summer vs. winter; peak day travel vs. non-peak day travel; and more). Rank all of the options from the lowest cash outflow to the highest. You could even assign ‘weights’ to specific items and perks that you value the most, and execute a second evaluation.

Evaluation of Safety Standards

There’s more that goes into an evaluation of a service provider than mere monetary items, however. It is also important to evaluate where each potential operator stands in terms of safety standards. If you are booking your travel through a broker, it is wise to understand which company will be providing the service, since many play the role of ‘intermediary’ as they actually don’t own the aircraft or operate the flight. Instead, the service will be provided by a third party, and even potentially subcontracted to a third party not known by www.AVBUYER.com

the broker. The following checklist can be used in your safety standards evaluation: 1. Safety and Risk Management Protocols: Review how robust the operator’s Safety Management System is, and whether the provider has a Flight Operation Quality Assurance program in place. Such programs facilitate the increased safety of private jet travel by offering an information snapshot of events that occur during a flight, helping to mitigate risk.

2. Aircraft Sourcing Practices: Find out who the operator’s preferred partners are, in the case of there being no aircraft available at the time of departure. Who are the preferred providers, and what are their safety records and reputations? 3. Minimum Pilot Experience: Find out what the operator’s minimum hiring requirements are, and benchmark these against industry standards. 4. Pilot Attrition Rate: Is this above 10% per annum, and, if so, why? Find out AVBUYER MAGAZINE Vol 25 Issue 8 2021

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“ Find out whether the operator is seen by pilots as a career steppingstone, enabling them to merely build up their flying time, or a career destination where pilots develop their skills and abilities.”

whether the operator is seen by pilots as a career steppingstone, enabling them to merely build up their flying time, or a career destination where pilots develop their skills and abilities. 5. Aircraft Maintenance Practice: Understand what type of maintenance work is done in-house, and what is outsourced. Where outsourced, who is the maintenance provider, and what are its credentials and expertise? 6. Review Maintenance, Quality & Safety Audits: These will have been executed in the past for all operations. What were the findings for the operator you are considering chartering with? Most importantly, how were they addressed and resolved? 7. Investigate the Safety Events, Incidents and Accidents: Safety Statistics are available to view on the National Business Aviation Association website (www.nbaa.org). 8. Review the Operator’s Safety Record and Ratings: Is the operator accredited with the International Standard for Business Aircraft Operations (IS-BAO), and on-demand charter operator ratings such as Argus/US and Wyvern Wingman? These represent the highest level of quality and safety within the industry.

What’s Your Typical Travel Requirement?

Finally, to make the highest return on investment

decision when evaluating a travel option through its many available options, it is key to define your typical travel mission requirements, including range, regular destinations, number of flight segments, and frequency of flight. In addition, define what your typical travel profile is in terms of: • • • • • • • • • •

Same-day, versus multi-day trips; When the flying will take place (i.e. 75% non-peak vs. 25% peak days); Typical booking timeline vs. departure needs; Operating base location and primary service area; The average number of passengers flying, and cabin size; The number of flight hours annually; Your budget; Luggage requirements; Any special concierge needs; And more.

In Summary…

Having a clear idea of your requirements will help you focus on what matters most for you. Gather the information, interview the service providers, fill in the evaluating framework sheet, weigh up all of the options, and if possible book and ‘live the experience’ through a one-time charter flight with the two top selected providers. After you have completed your due diligence, you are most likely to arrive at the best travel decision for your needs and budget. T

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Ownership 4.qxp_Finance 20/07/2021 15:34 Page 1

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Helicopter Ownership: What are the Operating Costs? Occasionally, helicopter buyers can find two or more rotorcraft equally capable of performing the required operations. To help decide between them, what are the less obvious operating cost considerations? Dave Higdon explores… here is no doubting that factoring the differences in operating costs will undoubtedly play a big role in the selection of the right helicopter to operate. Inevitably, the turbine helicopter will cost more to operate than a piston option. But while there will be significant variables between fuel, maintenance, training, regulatory compliance, and more when comparing the piston and turbine operations, exploring and really understanding the differences should provide answers to operating cost questions not even asked.

Regulatory Differences

First, it’s important to consider the different regulations that are applicable to helicopters in private and commercial use. Part 91, for example, applies to General Aviation and some corporate commercial operations. It is the bread-and-butter for many corporate operators. Part 91 does not mean commercial vs non64 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

commercial, or hire vs non-hire, however. You can get paid for some flights operating under Part 91 (see below). Some commercial operators fly under Part 91 rules, choosing to remain under Part 91 instead of Part 135, because it saves them money. While Part 135 imposes stricter training and maintenance requirements, Part 91 is the least restrictive, and a pilot may choose to initiate an instrument approach when the weather is below the minimums published on the approach plates (for example), whereas they couldn’t do so under Part 135. If a Part 91 operator wants to fly passengers for hire, then the FAA requires them to step up its game. The commercial flying allowed under Part 91 is more limited than under Part 135. For example, under Part 91 the passengers are incidental to the flight's mission (such as an observer delivering traffic reports). While they are not a paying passenger, they are passengers nonetheless. Without a Part 135 certificate, the operator can't advertise offering scheduled or on-demand www.AVBUYER.com

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passenger services, but they can advertise utility missions in which an observer or trained operator is required. Meanwhile, “Operation Specifications” (Ops Specs) is an official document approved by the FAA establishing a company as a Part 135 operator (or as a Part 121, 141 or 142 operator). While restrictive in some ways, Ops Specs also provide a measure of flexibility, allowing companies to deviate from certain CFRs. For example, a Part 91 pilot must have an alternate when the weather within one hour of the filed ETA is less than 2,000 feet and three miles visibility. FAA-approved Ops Specs will allow carriers to go lower than that. Ops Specs are great until you try to change them. Changes must be approved by the FAA in writing, including checklists – and for this reason many small corporate operators avoid becoming Part 135 operators. For example, 49 U.S.C 44730 requires that Part 135 certificate holders providing air ambulance services comply with Part 135 regulations www.AVBUYER.com

pertaining to weather minimums, and flight and duty time when medical personnel are onboard the aircraft. The statute also directed the FAA to conduct rulemaking on helicopter air ambulance operations to address: 1. 2. 3.

Flight request and dispatch procedures; Pilot training standards for preventing controlled flight into terrain and recovery from IIMC; and Safety-enhancing technology and equipment, including, HTAWS, radio altimeters, and, to the extent feasible, devices that perform the function of flight data recorders and cockpit voice recorders.

Further, section 44730 requires the rulemaking to address: 1. 2.

Flight risk evaluation programs; and Operational control centers for helicopter air ambulance services with 10 or more helicopters.

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AVBUYER MAGAZINE Vol 25 Issue 8 2021

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Part 135 applies to commuter and on-demand operations flown for hire. And, to be clear, for helicopter pilots Part 135 (and Part 133 rules governing external load operations for helicopters) almost always apply to you. And don't forget about the Safety Management Systems (SMS) which the FAA requires of commercial operators. Finally, on the regulatory front, Part 27 contains airworthiness standards for rotorcraft in the normal category, including rotorcraft up to 7,000lbs Maximum Takeoff Weight (MTOW) and nine or fewer passengers. Examples include Robinson's R44 and Schweizer 300 piston helicopter models, and Bell’s 429 turbine helicopter. If all of the above sounds complex and expensive, in reality it is, and must be understood and factored into any operating cost analysis for helicopter ownership.

Direct Operating Costs

The area of Direct Operating Costs (DOCs) most Part 91 operators look to when weighing up the piston-versus-turbine helicopter ownership question – assuming the candidate rotorcraft provide similar capabilities – is the fuel consumption and engine maintenance costs. Generally, turbine helicopters will provide more power for their weight – but at the cost of a higher hourly fuel consumption rate and, as a result, higher fuel costs when comparing an equal number of hours flown. 66 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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Anyone moving from operating fixed-wing aircraft to helicopters should be aware that helicopters use more rotating parts, many with their own detailed maintenance requirements. Rotor blades, rotor hubs, and the anti-torque blades spinning back at the end of the tail boom cover just a few examples of the many parts. Expect the per-hour maintenance costs of the helicopter to run higher than a fixed-wing aircraft – even when both are piston powered or both turbine powered. Under Part 91, operators face enginemaintenance guidelines, in particular the Time Between Overhauls (TBO) recommendation of the engine and airframe OEMs. TBO is a recommendation operators use as a guide to overhauling or replacing the powerplant(s). TBO is a guideline for non-commercial operations, allowing them to overhaul or replace their powerplants on an on-condition basis. If, for example, engine-oil lab tests find no contaminants warranting a tear down; and if borescope inspections of the cylinders reveal no problems (i.e. cracks around spark plugs or valves) and the engine passes its compression tests, the engine may be run for many hours beyond the TBO time. Similarly, turbine-powered helicopters’ engine and airframe OEMs set time periods between hotsection inspections and overhauls. On-condition is the watchword – unless the engine OEM imposes other limitations. For commercial operations, however, TBO is a

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“Some of the higher training costs may stem from the missions flown by the helicopter, whether piston or turbine.”

regulatory fact of life. When the piston or turbine engine reaches its TBO, the FAA requires it to be inspected and overhauled – or replaced. Neither prospect is an inexpensive one. Therefore, maintenance on a turbine engine will push up the DOCs of a turbine helicopter, just as the higher fuel flow does.

Training and Insurance

For turbine helicopters, both pilot training and insurance will run higher than for a comparable piston helicopter, adding to the higher DOCs of the turbine-powered ship. Some of the higher training costs may stem from the missions flown by the helicopter, whether piston or turbine. And insurance generally runs higher for helicopters used as air ambulances, for utility work that involves lifting external loads, and firefighting work. With the utilitarian nature of both turbine and piston helicopters, it is not uncommon for them to double up in the role they perform for their owners.

68 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

The specialist types of operations mentioned above require specialized, and recurrent training, and may require flying under a commercial operation – moving the helicopter away from its original Part 91 ops.

In Summary…

Fixed-wing piston aircraft offer speed beyond what is available from today's fastest helicopters, meaning longer flight times in the helicopter, with the accompanying differential in fuel and per-hour maintenance costs. Ultimately, a piston helicopter will cost more to fly than a piston fixed-wing aircraft of the same seating and load capacity. And a turbine-engine helicopter will cost more across the board than the comparable piston-powered helicopter. In the end, the decision to buy a turbine-engine helicopter should come back to the same old decision as any business aircraft: Mission Compatibility. T

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VALUES - TURBOPROPS

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Business Aircraft Values: Turboprops The top-selling turboprops tend to be aircraft that are continually popular among owners needing fuel-efficient, multi-mission types, as AvBuyer explores below…

hile exceptions exist, turboprop airplanes offer a common set of attributes that make them an attractive proposition. The powerplants are responsible for most of this – turboprop engines benefit today from propeller designs that are far more sophisticated than just a decade ago, resulting in lower maintenance costs; longer overhaul cycles; improved climb and cruise performance; and - in turn - reduced noise levels in the cabin. In addition, specific fuel consumption numbers continue to improve – an attractive attribute given today’s depressed oil prices, with the practical effect of allowing the use of higher power-levels without suffering a proportionate increase in fuel consumption/costs. That, in turn, contributes to improvements in take-off and climb performance and cruise speed. Another advantage offered by many turboprops is the single-pilot operational simplicity, engineered into even the multi-engine turboprops. The only exceptions to the sum total of these benefits exist among the unpressurized models that are available

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and form a small, important and dynamic segment of the turboprop market. Today’s turboprops offer a broad range of turbine performance, propeller cost-effectiveness (some with at - or near to - Light Jet cruise performance capabilities) with cabin and cockpit accoutrements that rival the best of the fanjet strata. And on trips of up to 300 nautical miles, the difference in travel time between a jet and a turboprop is negligible.

Turboprop Price Guide

The following Turboprop Retail Price Guide represents current average values published in The Aircraft Bluebook–Price Digest. The study spans model years from 2002 through Summer 2021 (20 year period). Values reported are in US$ millions, with each reporting point representing the current average retail value published in the Bluebook by its corresponding calendar year. For example, the Daher (Quest) Kodiak 100 reported in the Summer 2021 edition of the Bluebook shows US$1.5m for a 2015 model, US$1.4m for a 2014 model, and so forth. Aircraft are listed alphabetically.

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VALUES - TURBOPROPS

Turboprops: Average Retail Price Guide MODEL YEAR $

2021 US$M

2020 US$M

2019 US$M

2018 US$M

2017 US$M

2016 US$M

2015 US$M

2014 US$M

2013 US$M

6.5

5.0

4.1

3.9

3.6

3.3

2.8

2.7

2.6

5.3

4.0

3.5

3.1

2.9

2.7

2.6

2.5

2.4

2012 US$M

MODEL BEECH KING AIR 360

8.39

BEECH KING AIR 350i BEECH KING AIR 350 BEECH KING AIR 260

7.05

BEECH KING AIR 250 BEECH KING AIR B200

2.1

BEECH KING AIR B200GT BEECH KING AIR C90GTx

3.3

3.0

2.7

2.5

2.3

2.1

2.0

1.9

1.85

1.55

BEECH KING AIR C90GTi BEECH KING AIR C90GT BEECH KING AIR C90 CESSNA 208 CARAVAN CESSNA 208 CAR G1000/NXi

2.1

1.9

1.8

1.75

1.7

1.675

1.65

1.625

1.6

CESSNA 208 GRAND CAR EX

2.365

2.2

2.1

2.0

1.9

1.85

1.8

1.75

1.7

CESSNA 208 GRAND CAR

1.825

1.7

CESSNA 208B GRAND CAR CESSNA 208B SCM EX

2.1

2.05

1.95

1.85

1.75

CESSNA 208B SUPER CARGOMASTER

1.65

DAHER (QUEST) KODIAK 100 (II)

2.1

1.9

1.8

DAHER (QUEST) KODIAK 100 DAHER TBM 940

4.575

4.0

1.7

1.6

3.2

1.5

1.4

2.9

2.6

1.3

1.2

2.2

2.1

3.8

DAHER TBM 930

3.7

3.6

3.5

DAHER TBM 910

3.5

3.4

3.3

DAHER TBM 900

3.0

DAHER (SOCATA) TBM 850 DAHER (SOCATA) TBM 700C2/EFIS DAHER (SOCATA) TBM 700B/EFIS PIAGGIO AVANTI P.180 PILATUS PC-12 NGX

N/A

5.5

5.0

4.5

4.0

3.5

3.0

4.7

4.1

3.9

3.7

3.5

3.3

3.2

3.1

3.0

1.4

1.3

1.2

1.175

N/A

5.443

4.9

PILATUS PC-12/47E NG PILATUS PC-12/47 PILATUS PC-12/45 PIPER M600 (INC. M600 SLS)

3.11

2.7

2.5

2.2

2.1

2.0

PIPER M500

2.154

1.9

1.75

1.65

1.55

1.45

PIPER MERIDIAN PA46-500TP

AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM

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Retail Values.qxp_RPG 21/07/2021 10:40 Page 2

AVBUYER.com

What your money buys today

Summer 2021 2011 US$M

2010 US$M

2009 US$M

2008 US$M

2007 US$M

2006 US$M

2005 US$M

2004 US$M

2003 US$M

2002 US$M

MODEL YEAR $ MODEL BEECH KING AIR 360

2.5

BEECH KING AIR 350i

2.4 2.3

2.2

2.1

2.0

1.9

1.8

1.7

1.6

BEECH KING AIR 350 BEECH KING AIR 260 BEECH KING AIR 250

2.3 1.65 2.0

1.9

1.8

1.75

1.8

1.5

1.45

1.4

BEECH KING AIR B200 BEECH KING AIR B200GT

1.7

BEECH KING AIR C90GTi

1.6 1.5

1.225 1.45

1.55

BEECH KING AIR C90GTx 1.65

1.5

1.6

1.4

1.2

BEECH KING AIR C90GT

1.45

1.075

1.3

1.25

1.2

1.15

BEECH KING AIR C90

1.025

1.0

0.95

0.9

CESSNA 208 CARAVAN CESSNA 208 CAR G1000/NXi

1.3

CESSNA 208 GRAND CAR EX 1.6

1.525

1.475

CESSNA 208 GRAND CAR

1.35 1.325

1.275

1.2

1.075

1.025

1.0

0.95

CESSNA 208B GRAND CAR CESSNA 208B SCM EX

1.55

1.5

1.45

1.4

1.3

1.25

1.2

1.15

1.1

1.05

CESSNA 208B SUPER CARGOMASTER DAHER (QUEST) KODIAK 100 (II)

1.1

1.0

0.95

0.9

DAHER (QUEST) KODIAK 100

0.85

DAHER TBM 940 DAHER TBM 930 DAHER TBM 910 DAHER TBM 900 2.0

1.9

1.8

1.7

1.5

1.4 1.4

2.7

2.5

2.1

1.8

1.6

DAHER (SOCATA) TBM 850

1.5

1.35

1.45

1.3

1.4

DAHER (SOCATA) TBM 700C2/EFIS

1.25

1.35

1.2

DAHER (SOCATA) TBM 700B/EFIS

1.3

PIAGGIO AVANTI P.180 PILATUS PC-12 NGX

2.9

2.8

2.7

PILATUS PC-12/47E NG

2.6 2.5

2.4

PILATUS PC-12/47

2.3 2.2

2.1

2.0

1.8

PILATUS PC-12/45 PIPER M600 PIPER M500

1.125

1.075

1.05

0.95

0.85

0.8

0.75

0.7

0.65

0.6

PIPER MERIDIAN PA46-500TP

AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM

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How is the Industry Adapting to the Market?

Adam Meredith

he world response to the COVID-19 pandemic radically shifted markets, from the mundane—sundries and dry goods—to the more esoteric, like silicon chip manufacturing. What might be the lasting effects that COVID has had on the airplane market? Similar to potential homebuyers and white-collar office workers, COVID has forced a re-examination of air travel by business executives, business owners and GA pilots generally. Industry professionals seem to agree that beginning midpandemic, COVID really pushed a lot of people to seek the means to do their own thing however they could, and especially those who could afford it, to buy and fly. Now as the pandemic seems to be on the wane and COVID restrictions are lifted, will that trend continue? And if so, how will that affect the different aircraft markets? The industry already has had several years of strong economies, which has led to tightening of quality supply. Now AOPA is seeing that more businesses realize it’s prudent to keep their execs off commercial airlines and instead seek alternatives like buying a company airplane. First-time buyers are going to look at the lower end of the market, the owner-flown segment. That puts increasing upward pressure on pricing. AOPA is seeing a lot of demand on very thin supply, particularly in the turboprop and light jet spaces. In those two categories, the pace of sales has accelerated. That’s led to further appreciation in the value of a lot of aircraft, particularly in the single-engine piston space.

And because demand has far outstripped supply of quality, issue-free aircraft, people are more willing to buy problematic assets: airplanes with damage history, or a cloudy title or incomplete logs. Buyers are even investing in project aircraft, the kind that need avionics upgrades or new paint and interior, or all the above. On the financing side, people who don’t have their finances in order are often losing out to those who are more financially nimble—those who can make offers without financing contingencies or who have financing already lined up. If the stock market is any measure of strong consumer confidence, it’s fair to say this will continue to persist. Our work environments have changed, and with more of us working remotely full- or part-time, people have more flexibility and time to travel. We see that those who can afford to own an airplane are more likely to justify and complete the purchase. Any number of things could cause that to change, but the biggest foreseeable impediment to a sustained sellers’ market could be major tax reform as currently proposed by the Biden administration. On the other hand, with the government continuing to spend, inflation could become a problem. If there is inflation, you’ll want your money in assets. That will only make airplane inventory worse. Tough to know for sure which way things will go, but given it seems far more challenging for consensus on tax reform than consensus on some form of spending package, it will likely be some time before we see values dropping drastically.

Great advice. Great rates. From helpful and responsive reps you can trust. Three good reasons to turn to AOPA Aviation Finance when you are buying or refinancing an airplane. If you need a dependable source of financing with people who are on your side, just call and request a quote.

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AirCompAnalysis.qxp_ACAn 21/07/2021 12:18 Page 1

JET COMPARISON

DASSAULT FALCON 2000S

CESSNA CITATION LONGITUDE

Jet Comparison:

Cessna Citation Longitude vs Dassault Falcon 2000S How do the Cessna Citation Longitude and Dassault Falcon 2000S compare side-by-side? What are the advantages offered by each model? Mike Chase analyses the performance and productivity parameters.

ver the following paragraphs we’ll consider key productivity parameters for the Citation Longitude and Dassault Falcon 2000S (including payload, range, speed, and cabin size) to establish which aircraft provides the better value in the business jet market.

Citation Longitude

Cessna’s Citation Longitude received FAA certification in September 2019, and features a swept wing design with winglets, and a “T” style empennage. Two FADEC-controlled Honeywell HTF7700L turbofan engines power the jet, while a pressurized cabin with a flat floor typically accommodates eight passengers in executive configuration. The Longitude has a certified ceiling of 45,000ft. As of this writing, 34 Citation Longitude business jets were in operation, with twelve in fractional operations. Thirty-three were based in the US.

76 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Dassault Falcon 2000S

The Dassault Falcon 2000S, meanwhile, received EASA and FAA certification in April 2013. The model represents a shortfield, slightly shorter-range version within the well-established Falcon 2000 family. The Falcon 2000’s short field capabilities open up several more airport options compared to other models in the Falcon 2000 family, while its spacious cabin seats up to 10 passengers in executive configuration. Powered by two Pratt & Whitney PW308C powerplants, each engine is equipped with Talon II combustors, reducing the nitrous oxide emissions by 20%. The Falcon 2000S has a certified ceiling of 47,000ft. Since deliveries began there were 44 wholly-owned Dassault Falcon 2000S business jets in operation worldwide, at the time of writing, 20 of which were based in the US.

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AirCompAnalysis.qxp_ACAn 21/07/2021 15:16 Page 2

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DASSAULT

CESSNA

Citation Longitude

Falcon 2000S

vs.

(Manufactured between 2019-Present)

(Manufactured between 2013-Present)

HOW MANY

EXECUTIVE

SEATS

$29.77 Million (2021 Model)

$28.8 Million (2021 Model)

WHICH OF THESE JETS WILL COME OUT ON TOP? HOW FAR

CAN WE TAKE?

4 Pax with Available Fuel Citation Longitude

Citation Longitude

3,500 3,540

Falcon 2000S

WHAT’S THE

HOW MUCH

PAYLOAD

CAN WE GO?

(Lbs)

2,400

HOW MANY

OPERATION?

EACH MONTH?

UNITS IN

NEW/USED SOLD

5 (4.4%)

<1 (2.3%)

CRUISING SPEED?

1 (0%)

Falcon 2000S

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12-Month Average Figure

(% = Global Fleet For Sale)

449 437

WHAT’S THE

COST PER HOUR?

Citation Longitude Falcon 2000S

Sources used: JETNET, B&CA and Chase & Associates.

(Knots)

Citation Longitude

4,950

Falcon 2000S

LONG RANGE

$1,536 $1,605

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AirCompAnalysis.qxp_ACAn 20/07/2021 14:21 Page 3

JET COMPARISON

AVBUYER.com

Table A - Payload & Range Comparison Payload & Range Comparison

Cessna Citation Longitude

When comparing business jets, an important area for potential operators to focus on is payload capability, and especially the ‘Available Payload with Maximum Fuel’. Table A (left) shows the Citation Longitude’s ‘Available Payload with Maximum Fuel’ to be 1,600lbs, which is less than the 1,850lbs offered by the Falcon 2000S.

Dassault Falcon 2000S

14,500 14,600

39,500 41,000

1,600

4,950

Max Payload (lb)

Max Fuel (lb)

MTOW (lb)

2,400

3,074

1,850

Avail Payload w/Max Fuel (lb)

Source: OEMs, B&CA

2,450

Max Payload w/Avail Fuel IFR Range (nm)

Cabin Comparison

1,312

As shown in Chart A (left), the cabin height is greater in the Falcon 2000S than it is in the Citation Longitude (6.2ft. vs. 6.0ft), as is the cabin width (7.7ft vs 6.4ft). The Falcon 2000S also has a longer cabin than the Citation Longitude (26.2ft vs 25.2ft). Unsurprisingly, therefore, the Falcon 2000S has more overall cabin volume (1,024cuft versus 835cuft), including the galley and lavatory. In terms of luggage space, the Falcon 2000S provides 131cu.ft internal and 8cu.ft external, compared to 112cu.ft internal (and no external) space on the Citation Longitude.

Chart A - Cabin Comparison Dassault Falcon 2000S

6.20 ft

6.00 ft

Cessna Citation Longitude

Range Comparison

6.40 ft

Using Wichita, Kansas as the start point, Chart B (bottom, left) shows the Citation Longitude has a range of 3,500nm with four passengers and available fuel, which is marginally less than the Dassault Falcon 2000S (3,540nm). Note: For business jets, ‘Four Pax Range’ represents the maximum IFR range of the aircraft at long range cruise. The NBAA IFR fuel reserve calculation is for a 200nm alternate. This range does not include winds aloft or any other weather-related obstacles.

7.70 ft

Source: UPCAST JETBOOK

Chart B - Range Comparison Citation Longitude Falcon 2000S

3,500 (nm) 3,540 (nm)

4 Pax w/avail fuel 3 4 Pax w/avail fuel

Powerplant Details

As mentioned previously, the Citation Longitude has two Honeywell HTF7700L engines, each providing 7,650lbst, and burning 247 gallons of fuel/hour (gal/hr). By comparison, the Dassault Falcon 2000S has two Pratt & Whitney PW308C engines producing 7,000lbst each. These burn 240 gal/hr.

Cost per Mile Comparison

Source: Chase & Associates

78 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Chart C (overleaf) details ‘Cost per Mile’, comparing the Citation Longitude and Dassault Falcon 2000S. These factor the direct costs with both aircraft flying a 1,000nm mission with an 800lbs (four passengers) payload. The Citation Longitude has the nominally lower cost per mile, at $5.06 per nautical mile –two cents less than the Falcon 2000S ($5.08).

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13 Pax Aft Galley Floorplan, Part 135, Aircell ATG-4000 Gogo Biz Hi-Speed Wi-Fi, New Strip & Paint September 2015

2008 Gulfstream G200 s/n 200

G550 s/n 5114

3,464 Hours TT, Engines on JSSI & APU on MSP Gold, 10 Pax Conference Group & Divan, Safe Flight Auto Throttle System

Renovation Completed Jan. 2017, Total Work Package Cost Approximately $8M, One of the Most Upgraded G550’s, 14 Pax Fwd Galley & Fwd Crew Rest, Honeywell Jet ConneX Ka-Band & Gogo Biz® AVANCE L5 High-Speed Broad-Band Data System & Wi-Fi System. Not Another Aircraft like This Available

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AirCompAnalysis.qxp_ACAn 21/07/2021 12:23 Page 4

JET COMPARISON

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Chart C – Cost Per Mile Comparison Variable Cost Comparison

Citation Longitude

$5.06

Falcon 2000S

$5.08 $2.00

$4.00

The ‘Variable Cost’, illustrated in Chart D (middle, left) is defined as the estimated cost of fuel, maintenance labor, scheduled parts, and miscellaneous trip expenses (e.g., hangar, crew and catering). These costs DO NOT represent a direct source into every flight department and their trip support expenses. For comparative purposes, the costs presented are the relative differences, not the actual differences since these may vary from one flight department to another. The Citation Longitude ($1,536/hr.) has a lower variable cost than the Dassault Falcon 2000S ($1,605/hr.) – a difference of $69/hr., or 4.3%.

$6.00

US $ per nautical mile Source: JETNET * Based on a 1,000nm mission

Market Comparison

Table B (bottom, left) contains the new prices (per B&CA) for the Citation Longitude and the Dassault Falcon 2000S ($29.765m and $28.8m, respectively). Also, listed are the long-range cruise speed and range numbers (also per B&CA), while the number of aircraft in-operation, the percentage for sale, and average sold are from JETNET. At the time of writing, the Citation Longitude had no aircraft ‘for sale’ on the pre-owned aircraft market. By comparison, there was one pre-owned Falcon 2000S available for sale. The average number of new and pre-owned transactions (units sold) per month over the previous 12 months was one for the Citation Longitude and less than one for the Falcon 2000S.

Chart D – Variable Cost Comparison

$1,536

Citation Longitude Falcon 2000S

$1,605

$500

$1,000

$1,500

$2,000

US $ per hour

Source: JETNET

Maximum Scheduled Maintenance Equity

Table B - Market Comparison Table

Chart E (overleaf) displays the Maximum Maintenance Equity that the Dassault Falcon 2000S has available, based on its age. Similar information is currently unavailable for the Citation Longitude.



Citation Longitude Dassault Falcon 2000S

449

437

Long Range Cruise Speed (Kts)

835

1,024

Cabin Volume Cu Ft

3,500 3,540 4 Pax w/Avail Fuel IFR Range (nm)

$29.765 $28.8 New Price (2021 Model) $USm

*Average Full Sale Transactions in the past 12 months, as of June 2021; Source: JETNET Data courtesy of B&CA; JETNET

80 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

In Operation

2.3%

% For Sale

New/Used Average Sold per Month*

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AirCompAnalysis.qxp_ACAn 20/07/2021 14:23 Page 5

JET COMPARISON

Chart E - Maximum Scheduled Maintenance Equity

80%

The Maximum Maintenance Equity figure was achieved the day the aircraft came off the production line – since it had not accumulated any utilization toward any maintenance events. The percent of the Maximum Maintenance Equity that an average aircraft will have available, based on its age, assumes that average annual utilization is 400 Flight Hours, and all maintenance is completed when due.

70%

Depreciation Schedule

Dassault Falcon 2000S Assumed Annual Utilization: 400 Flight Hours Average Maximum Maintenance Equity: $3,387,706 Pct of Avg Max Mtnc Equity vs. Aircraft Age

100%

Pct of Max Mtnc Equity

90%

60%

50%

40%

30%

Source: Asset Insight (www.assetinsight.com)

Aircraft Age (Years)

Table C - Citation Longitude Sample MACRS Depreciation Schedule 2021 Citation Longitude - Private (Part 91) Full Retail Price - Million $29.765 Year

Rate (%)

Depreciation ($M)

Depreciation Value ($M) Cum. Depreciation ($M)

20.0%

32.0%

$23.812

$14.287

$5.953 $5.953

19.2%

11.5%

$9.525

$5.715

$3.429

$15.478

$21.193

$24.622

$8.572

$5.143

11.5%

5.8%

$1.714

$0.000

$3.429

$28.051

$1.714

$29.765

2021 Citation Longitude - Charter (Part 135) Full Retail Price - Million $29.765 Year

Rate (%)

Depreciation ($M)

Depreciation Value ($M) Cum. Depreciation ($M)

14.3%

$4.253

$25.512 $4.253

24.5%

$7.289

$18.222 $11.543

17.5%

12.5%

8.9%

4.5%

$5.206

$3.718

$2.658

$2.655

$2.658

$1.328

$16.749

$20.466

$23.124

$25.779

$28.437

$29.765

$13.016

$9.299

$6.641

$3.986

$1.328

$0.000

Source: B&CA

Table D - Dassault Falcon 2000S Sample MACRS Depreciation Schedule 2021 Dassault Falcon 2000S - Private (Part 91) Full Retail Price - Million $28.800 Year

Rate (%)

Depreciation ($M)

Depreciation Value ($M) Cum. Depreciation ($M)

20.0%

$5.760

$23.040 $5.760

32.0%

19.2%

11.5%

5.8%

$9.216

$5.530

$3.318

$1.659

$14.976

$20.506

$23.823

$27.141

$28.800

$13.824

$8.294

$4.977

$1.659

$0.000

2021 Dassault Falcon 2000S - Charter (Part 135) Full Retail Price - Million $28.800 Year

Rate (%)

Depreciation ($M)

Depreciation Value ($M) Cum. Depreciation ($M)

14.3%

$4.116

$24.684 $4.116

24.5%

$7.053

$17.631 $11.169

17.5%

12.5%

8.9%

4.5%

$5.037

$3.597

$2.572

$2.569

$2.572

$1.284

$16.206

$19.803

$22.375

$24.944

$27.516

$28.800

$12.594

$8.997

$6.425

$3.856

$1.284

$0.000

Aircraft 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 can use accelerated depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period. In certain cases, aircraft may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS), 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 is a variety of factors that taxpayers must consider in determining if an aircraft may be depreciated, and, if so, the correct depreciation method and recovery period that should be utilized. For example, aircraft 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. Aircraft 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 using ADS with a seven-year recovery period. There are certain uses of the aircraft, such as non-business flights, that may have an impact on the allowable depreciation deduction available in any given year. The US enacted the 2017 Tax Cuts & Jobs Act into law on December 22, 2017. Under the Act, taxpayers may be able to deduct up to 100% of the cost of a new or pre-owned aircraft purchased and placed in service before January 1, 2023. This 100% expensing provision is a huge bonus for aircraft owners and operators. After December 31, 2022 the Act decreases the percentage available each year by 20% to depreciate qualified business jets until December 31, 2026. Table C (left) depicts an example of using the MACRS schedule for a 2021- model

Source: B&CA

82 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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AirCompAnalysis.qxp_ACAn 20/07/2021 14:25 Page 6

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Asking Prices & Quantity

At the time of writing, there were no Citation Longitude business jets available for sale on the used aircraft market. However, there was one 2014-model Dassault Falcon 2000S available for sale on the used market with a $15.2m asking price. While each aircraft serial number is unique, the Airframe Total Time (AFTT) and age/condition will cause great variation in the price of a specific aircraft – even between two aircraft from the same year of manufacture. The final negotiated price remains to be decided between the seller and buyer before the sale of an aircraft is completed.

Productivity Comparison

The points in Chart F (right) are centered on the same aircraft. Pricing used in the horizontal axis is as published in B&CA. The productivity index requires further discussion since factors used can be somewhat arbitrary. Productivity can be defined (and it is here) as the multiple of three factors: 1. 2. 3.

Four Passenger Range (nm) with available fuel The long-range cruise speed flown to achieve that range, The cabin volume available for passengers and amenities

Others may choose different parameters, but serious business aircraft buyers are usually impressed with price, range, speed, and cabin size. The Citation Longitude offers a greater speed and a 4.3% lower operating cost than the Falcon 2000S. However, the Dassault 2000S has a higher ‘Available Payload with Maximum Fuel’, a greater cabin volume, and a

Chart F - Productivity Comparison $50.0 $40.0

Prices (millions)

Citation Longitude in private (Part 91) and charter (Part 135) operations over five- and seven-year periods. The price is as published by B&CA at the time of writing. Table D (bottom, left) depicts an example of using the MACRS schedule for a 2021model Dassault Falcon 2000S in private (Part 91) and charter (Part 135) operations over five- and seven-year periods. The price is per B&CA.

$30.0

2021 Citation Longitude 2021 Falcon 2000S

$20.0 $10.0 $0.0 0.000

0.500

1.500

2.000

2.500

3.000

Index (Index = Speed x Range x Cabin Volume / 1,000,000,000)

“Prospective buyers of one of these business jets would have to weigh the capabilities of each model very carefully against their specific mission need...” very slightly longer range (40nm) with a four passenger payload. A 2021-model Citation Latitude costs $965k more than a 2021-model Falcon 2000S (as of this writing), but a few more years are needed to be able to compare preowned market values and the impact of depreciation. Prospective buyers of one of these business jets would have to weigh the capabilities of each model very carefully against their specific mission need to determine which one is the best fit for their flight operation. Within these paragraphs we have

MIKE CHASE Mike’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

www.AVBUYER.com

1.000

touched upon several of the attributes that business jet operators value, although there are other qualities, such as airport performance, terminal area performance and time-to-climb that might factor in a buying decision. And of course you'd want to know more about the OEM's current situation, plus maintenance/spares and support availability (including OEM/third-party support in your region), and so on. Ultimately, there is plenty for a prospective buyer to consider when deciding which performance criteria is better suited to them in an aircraft. Both business jets offer great value in the market today. T

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Right-Sizing BizJets: Planning for Change It’s important to ensure the company jet offers the best value for money. Andre Fodor shares experiences of when conversations helped change the direction of an aircraft purchase… or nearly thirty five years I have worked and consulted as a private aviation professional, and I still struggle with the costs associated with buying and operating business jets. Nevertheless, beyond the costs (which we as a Flight Department work hard to minimize), private flying does provide tangible benefits, and plenty of value to help justify the expense to the corporations who utilize business aircraft. With that being said, one of the crucial decisions to achieve ownership satisfaction is to choose the best aircraft to acquire, or upgrade to. Picking, and ultimately purchasing, the right-sized aircraft is a complex task, and requires knowledge of the market, finances, operations, and the ability to manage egos and expectations. Following are three occasions when my involvement in aircraft selection played a part in the acquisition process.

Super-Size It!

Having been hired by a Texan client previously to help him acquire an aircraft and better understand the market, a few years later he called again. This

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time, he explained, a good friend had decided to buy his first aircraft. Unfortunately, this friend had gone head-first into the world of online airplane shopping, hoping to unearth the next great buy. Being from Texas, bigger was better, and my former client’s friend had found an older model Large Jet at a “very good price” that he’d already paid the deposit for. That’s where I was drawn into the audit process. To cut a long story short, this ‘attractively priced’ older bird was just a few hundred hours short of needing a complete landing gear overhaul and engine hot section inspection. Moreover, it had aged for long enough that spare parts were difficult to find. All-in-all, the purchase price would easily have doubled within a few months of the title transferring, with the new owner needing to spend a huge sum of maintenance money to keep the airplane airworthy. At the end of a long, sobering lunch, the client agreed to take a hit on the deposit, and we moved on to smaller business jet territory, where the client’s budget could afford a higher pedigree jet. By rightsizing the airplane search, big trouble was averted.

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Maximize It!

On another occasion, a colleague of mine was hired to replace a retiring flight department manager who’d amassed forty years’ service with his company. The aircraft my colleague inherited was a more-than-thirty-year-old original Diamond Jet. He called me seeking help with the training and insurance. Trying to find someone who could provide initial training and checking on an airplane of this age proved to be a real challenge. Finding an insurer willing to cover the aircraft was harder still. Since the flight department had been operating the jet for such a long time, the team had done an outstanding job in keeping it airworthy. But spare parts were proving increasingly hard to find, resulting in long maintenance times. We brought an experienced insurance broker into the conversation with the aircraft owner who, until then, was unaware that his aircraft had reached the end of its useful life. Ultimately, we arranged one last nine-month period of insurance, during which time we procured a replacement preowned jet to be delivered at the end of that term. The nine-month period also allowed for

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training, enabling a smooth transition ahead of delivery of the replacement aircraft. As for the Diamond jet, at the end of its long and faithful service it was donated to an A&P maintenance school where it was used to train new mechanics. It was written off at a higher value than if it had been sold for scrap.

Under-Size It!

Finally, one time I received a call from an OEM salesperson. His professionalism was to be commended. He sincerely wished his customers to be well-served, and he worked hard to deliver the best product for the mission profile. He was calling because he was in the process of selling an aircraft to a first-time buyer who, even before his first visit, had already decided on buying a specific model. Having done his due diligence, the salesperson felt the aircraft of choice was not the best fit, and wanted me to visit the customer with him. As a rule, I try to learn about a person’s lifestyle, travel habits, and family life – all of which provide a picture of a prospect’s needs, helping to provide them with the right equipment for the long-term.

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During our chat the customer told me that his daughter would soon be married, and that he would soon become a grandfather, from his son’s marriage. He had selected an airplane with a maximum cabin occupancy of six seats, yet his load requirement was going to be for at least eight seats in the coming years, if he wanted to take everyone together to the family ranch. Once we discussed that element, we structured his aircraft purchase a little differently: The sixseater jet came with a pre-established trade-in date and value, since the eight-seater jet he needed was not due to be certified for another two years. The newly structured deal meant that he would get immediate use of his new purchase, and, as his needs changed, the right aircraft would arrive just-in-time.

In Summary

It’s hoped that the above anecdotes show how a deeper understanding of budget, need, and how those needs change can help prevent expensive, and regrettable mistakes when your corporation is

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“...private flying does provide tangible benefits, and plenty of value to help justify the expense to the corporations who utilize business aircraft.” acquiring its next jet. As flight department managers, the deeper understanding of the inner workings of business jet ownership and a rich experience we offer, can provide valuable insights to ensure the costs associated with aircraft ownership remain justifiable to our employers – not only for now, but into the future. T

ANDRE FODOR 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. https://www.linkedin.com/in/andrefodor/

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FLIGHT DEPARTMENT MANAGEMENT

How to Fly Incognito in the USA The mandating of ADS-B Out use for flights in most US airspace made it very difficult for owners and operators of business aircraft to prevent third parties from knowing where they were flying. Chris Kjelgaard explores the practical solution for most domestic US flights.

ntil the FAA made ADS-B Out use mandatory for flights in most US airspace in 2020, it was fairly easy for owners and operators of business aircraft to prevent the public – particularly business rivals, criminals and terrorists – from knowing exactly where in the nation each of their flights was bound. Before then, US Business Aviation operators could make use of an FAA program known as Limited Aircraft Data Displayed (LADD), previously known as the Blocked Aircraft Registration Request (BARR) program in either of two ways to keep the details of their domestic flights hidden from not-so-casual thirdparty interest, according to Christian Renneissen, Collins Aerospace’s manager for flight deck connectivity. One way operators could use LADD was to ask the FAA to block their flight details going to vendors of flight tracking data at the source level, by asking the FAA itself not to provide that data to the vendors. (Until ADS-B Out use became mandatory in the US, flight tracking data vendors relied on air traffic control data provided by the FAA as the source of their data on all US flights.)

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The second way, according to Renneissen, was for Business Aviation operators to ask the flight tracking vendors not to make the details of their flights available to the public, but to provide each operator’s details to that operator to allow it to track its own flights. This process is called “limiting the display of aircraft data at the subscriber level” and is requested from the FAA. Most operators chose the second option, and some reputable flight-tracking vendors (FlightAware being one example) continue to honor such LADD requests to this day, Renneissen says. However, the mandating of ADS-B Out usage in most US airspace, and the consequent growth of a number of web-based flight tracking vendors which display flight data based purely on ADS-B broadcasts has made the LADD program much less effective, according to Renneissen. These vendors take data received by many thousands of inexpensive, privately-owned ADS-B receivers worldwide and aggregate the data to provide a global, real-time picture of nearly all ADS-Bequipped flights taking place at any given time. (Obtaining live ADS-B data from flights in mid-oceanic

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or remote terrestrial airspace requires a data feed from a professional provider of space-based ADS-B data, however.) Web-based vendors can make highly detailed ADSB aircraft positional, and identity data available to the public, because every aircraft equipped with ADS-B Out capability broadcasts, once or twice every second, a large number of moment-to-moment positional and identification details about the flight it is currently operating. These details include the exact identity of the aircraft in terms of its registration or ‘tail number’ – for USregistered aircraft, a combination of the prefix ‘N’ and up to five numbers and letters – and its unique ICAO ‘hex’ address (a 24-bit digital address, usually expressed in six-character hexadecimal form using a combination of the letters A to F and the numbers 0 to 9). After January 1, 2020, US Business Aviation operators quickly became concerned as to how they could continue to keep the details of their domestic flights private for commercial and security reasons. Responding to their call, the FAA introduced a novel and effective way of making such flights in domestic US airspace effectively anonymous, by

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creating the Privacy ICAO Address (PIA) program under the ‘ADS-B Privacy’ umbrella.

How PIA works

PIA involves two main elements, and operators interested in participating in the program have to apply to the FAA to participate, according to Renneissen. Key to the program’s operation is that the FAA maintains an inventory of unassigned ‘N’ registrations. The first element of PIA is that the FAA has reserved some of these unassigned registrations for the PIA program and makes them available to eligible PIA applicants. Upon approval of its application an operator receives a PIA, which is a six-digit ICAO hex address that translates to one of the reserved 'N' registrations. The FAA then allocates this hex address/tail number pairing as a spurious identity to an aircraft whose true identity its owner/operator does not want third parties to be able to ascertain as it performs US domestic flights. For all FAA airworthiness, maintenance and title purposes, the aircraft continues to wear its real tail number: the spurious one is never painted on the

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days in which its ADS-B Out equipment was broadcasting. The FAA can then determine from its own ATC data records whether the broadcasting performance of the aircraft’s ADS-B equipment was satisfactory during that flight, in terms of the accuracy of the information it provided and the strength of its broadcast signal.

Using Third-Party Callsigns

aircraft, Renneissen says. It is important for the PIA program, and for maintaining ADS-B privacy, that none of the unallocated ‘N’ tail numbers used for the PIA program is ever allocated to any aircraft as its true tail number while the program is active. Each pairing of an ICAO hex address and spurious tail number can be permanent if the operator chooses, but usually it is temporary, in order to maintain a secure level of ADS-B privacy over time. It is only allocated to a given aircraft once the aircraft’s owner or operator has successfully completed the PIA application process. This process involves a number of application steps and one or two flights: •

•

The first (which may or may not be necessary, see below) is used to obtain verification that the aircraft’s ADS-B Out equipment functions properly using its original ICAO hex address and tail number. The second is needed to verify that the aircraft’s ADS-B Out equipment still functions satisfactorily after it has been programmed with its new, spurious ICAO hex address and tail number.

In applying for PIA participation, unless an aircraft has operated an ADS-B verification flight and obtained verification from the FAA within the previous 180 days, the operator first has to make a Public ADS-B Performance Report (PAPR) to the FAA by providing routing details of any leg of any flight the aircraft has operated within the past 180

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The second main element of the PIA program is the FAA’s requirement that each successful applicant use one of four third-party providers of flight planning services to provide it with that provider’s own callsigns for each US domestic flight the applicant’s aircraft makes. Each callsign is made up of a three-letter prefix unique to the provider and then a flight number of up to four digits. Together with the aircraft’s spurious hex address and ‘N’ tail number, this ensures that the aircraft’s identity and ownership is effectively kept private for each domestic flight, as is each leg of a multi-sector flight if the callsign is changed for each sector. The four flight-planning services which the FAA accepts for PIA are: • • • •

FlightPln (owned by Garmin) ForeFlight (owned by Boeing) FlightAware ARINCDirect (owned by Collins Aerospace).

FlightPln’s three-letter callsign prefix is DCM, ForeFlight’s prefix is FFL, FlightAware’s callsign prefix is FWR and ARINCDirect’s prefix is XAA. According to Renneissen, ARINCDirect generates random XAA callsigns (each including up to four digits) for every single-sector PIA flight and a different callsign for every leg of a multisector flight. This makes the callsign-allocating process simpler and more efficient for ARINCDirect. The company would quickly run out of callsigns if it allocated each one permanently to a given aircraft, because only 9,999 callsigns are available to ARINC, says Renneissen. Importantly, changing the callsign for every sector also makes it highly difficult for any third-party to follow a given aircraft’s movements throughout the day.

Required Effort More Significant Than Cost

The cost to operators of participating in the PIA program isn’t necessarily high. The FAA to date hasn't charged operators for PIA participation (see below), and ARINCDirect, for instance, provides its callsign-allocation service for no extra cost to any operator which subscribes to the ARINCDirect flight planning service, says Renneissen. However, while cost isn’t necessarily much of a

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FLIGHT DEPARTMENT MANAGEMENT

factor in deciding to become a PIA-program participant, quite a lot of effort can be involved on the operator’s part to make sure its aircraft’s ADS-B Out equipment output is configured properly for every flight the aircraft makes. For one thing, the FAA’s PIA application process involves a substantial amount of form-filling on the part of the operator and also the need to obtain PAPR approvals both before and after the aircraft’s ADS-B equipment is modified to reflect its new, effectively anonymous, identity. Modification of the ADS-B Out data output itself can be quite simple – it’s a matter of “pressing a few buttons” for some aircraft-equipment combinations, but some types require a new software load to change the information their ADSB Out transmitters broadcast, explains Renneissen. Installing a new software load is a maintenance task in itself and is usually performed by an avionics technician where possible. Additionally, changing a PIA-participating aircraft’s ADS-B Out broadcast output to reflect the aircraft’s true identity is required every time the aircraft operates a flight which is international in nature or which does not remain within the boundaries of the 12 nautical mile-limit of US territorial waters, Renneissen notes. The latter restriction prevents program participants from planning any PIA-protected flights over the Gulf of Mexico between Florida and Texas, and between the US continental mainland and Alaska or Hawaii (though flights within the Hawaiian Islands are permitted to use PIA anonymization). Unless an aircraft operates entirely within US domestic airspace limits and its 12-nautical mile sea limit, its operator may have to modify its ADSB Out output frequently. The only exceptions to the ‘within-12nm-rule’ for PIA-protected flights are when an aircraft 94 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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operating a US domestic flight is vectored over water by FAA air traffic control to avoid bad weather, and when FAA controllers route its landing approach or departure more than 12nm beyond the coast. The restrictions above mean that, “for some operators, PIA is no good because their operations are so random,” says Renneissen. Renneissen says that operators initially showed substantial interest in the PIA program when the FAA launched it, but “interest in the program tapers off quickly when operators learn of the effort involved in changing from an aircraft’s original hexadecimal address to a PIA address.” That said, he notes, PIA ADS-B privacy protection “is being used very frequently” by ARINCDirect subscribers which are PIA-program participants.

Other Factors to Consider

Operators should note a number of other factors which may influence their decisions whether or not to apply for PIA ADS-B privacy protection for their US domestic flights. •

•

One is that the service is not available yet for 978 MHz UAT ADS-B Out transmitters or for dual UAT/1090 Out transmitters, though it is allowed for dual 1090/UAT receivers. Another is that operators are not allowed to change an aircraft’s PIA address and tail number during a flight, though the operator is allowed to broadcast the aircraft’s actual ICAO hex address and real N-prefixed tail number at any time during a flight.

Each aircraft’s Emergency Locator Transmitter requirement remains unchanged by PIA, which means that if the aircraft ditches or is downed terrestrially then its ELT will broadcast the

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Among other things this means that the PIA identity with which an aircraft is cloaked now may in future be allocated to another aircraft entirely. So third-party FOIA inquiries regarding a given operator’s, owner’s, or aircraft’s movements can at best only be of historical interest to FOIA applicants.

A Two-Phase Program

aircraft’s real ID. Additionally, the FAA discourages the use of controller-pilot data link communication (CPDLC) messaging during a PIA-protected flight, because “CPDLC sessions currently require the aircraft’s registration number to correlate communications between the aircraft and the CPDLC ground system,” the FAA says in its PIA Articles of Use. “The availability of this information from the flight plan and subsequently within FAA automation would compromise the identity of the PIA operation for that aircraft.” Importantly, also, “All aircraft information held by the FAA which is associated with a PIA used primarily and predominantly for business or commercial purposes will be available from the FAA via the Freedom Of Information Act upon request,” the PIA Articles of Use state. “The FAA does not consider PIA assignments used exclusively for commercial or business purposes confidential commercial information that is protected under Exemption 4.” In practical terms, however, operators don’t have much to fear from this FAA warning. At present any operator can apply to change its aircraft’s PIA-generated spurious identity every 60 days.

Operators should also take into account two other important factors when considering PIA participation. First is that the FAA has always regarded PIA as eventually being a two-phase program. PIA is still in its first phase, in that it is still being administered and run by the FAA. For the second phase, however, the FAA plans to hand over operation of PIA to one or more third-party service providers (in all likelihood private-sector in nature). This may or may not result in significant extra cost to program participants. What the change is planned to bring, however, is the ability for program participants to change their aircraft’s PIA identities every 20 days, rather than every 60 days. Last but not least as a point to consider: Renneissen believes ADS-B privacy is unlikely to be offered by other nations’ civil aviation regulators in the near future. “From the operator side, there’s definitely interest outside the USA,” he confirms. But most countries’ regulators aren’t keen on the idea of providing ADS-B privacy because they want to be able to track and identify accurately all the aircraft operating in their airspace, for aviation safety reasons, and to quickly and conclusively identify any aircraft which is involved in an accident or incident. T Learn more about the US PIA program at https://www.faa.gov/nextgen/equipadsb/privacy/

CHRIS KJELGAARD has been an aviation journalist for 40 years, with a particular expertise on aircraft maintenance. He has served as editor of ten print and online titles and written extensively on many aspects of aviation. He also copy-edits most major documents published by a global aviation industry trade association.

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FLIGHT DEPARTMENT MANAGEMENT

How to Optimize Human Performance on the Flight Deck In a world of automated systems aboard the business jet flight deck, why is human performance still such an important factor, and how can flight crews work towards improving their own performance? Mario Pierobon speaks with Antonio De Marchi, a Senior CRM Trainer… uman performance provides a significant contribution to maintaining or improving safety in Business Aviation operations. For example, pilots may plan ahead for threats and errors, or provide solutions to these by deploying abnormal and emergency procedures when necessary. However, human performance is characterised by limitations which can have a negative impact on safety in the flight deck. We’ll review some human performance limitations within Business Aviation and explore the strategies to optimize human performance in the flight deck – including the use of resources; the development of non-technical skills; and the practice of operational risk management.

What are the Human Performance Limitations in BizAv?

Common examples of human performance limitations within Business Aviation operations are the loss of situational awareness, according to Antonio De Marchi, a Senior Crew Resource Management Trainer. “These may arise at any time, and problem-solving and decision-making may be impaired as a consequence of the loss of situation awareness.

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“If a pilot is performing an approach in bad weather conditions, the same pilot can experience socalled ‘tunnel vision’, and may focus on maintaining certain parameters (such as speed and pitch), but lose other parameters, such as altitude and thrust setting.” In the history of Business Aviation, one of the key ways to address human performance limitations has been through the apparently endless upgrading of aircraft technology, and in particular via the automation of tasks on the flight deck. Electronic checklists, electronic navigation and en-route charts, vertical navigation displays, predictive windshear detection systems, and more, all bear witness to this.

Situational Awareness

While the intent of the developers of automated technology is to support improved situational awareness of crews, the end result frequently leads to pilot complacency, reducing – and sometimes even losing – situational awareness. Automation should not merely be seen as a means for creating reduced pilot workload: It should ultimately lead to more efficient workload management. “If, for example, pilots have to cope with unreliable

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airspeed indications during cruise, it’s important to immediately disengage the autopilot and the autothrottle/auto-thrust and revert to basic flying skills like pitch and power,” De Marchi says. “It is important that pilots are aware they will always have opportunities to reduce the level of automation during normal operations. They should treat automation with a measure of detachment, and be ready to intervene manually when needed.”

Optimizing the use of Resources

One core strategy for improving situational awareness (and thereby optimizing human performance on the flight deck), is to make the most of the human resources available. Even in a single pilot operation, it’s possible to improve situation awareness by providing for an extra ‘pair of eyes’… A second pilot can be on the flight deck when a trip requires a flight into an unfamiliar airport, or in marginal weather conditions. And that extra pair of eyes doesn’t necessarily have to be a pilot. It could be a technical crew member, or a dispatcher with a good knowledge of aircraft operations who can help identify hazards ‘live’, and/or simplify the management and conduct of tasks in the flight deck.

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“This contributes to reduce the workload and improves situation awareness,” De Marchi notes. “Having another person onboard can also help to deal with possible pilot incapacitation. “The other person on the flight deck can help the pilot feel psychologically at ease, simply because they may intervene with help if needed.”

Non-Technical Skills

Another important strategy would be to focus on developing situational awareness in training, and developing non-technical skills in general. These are interpersonal skills that cover the social and cognitive component and complement the technical skills, making them more effective and efficient. Communication is one of the non-technical skills that can significantly optimize human performance on the fight deck. “Standardised checklists provide ways for improved communication quality, and should be thoroughly practiced,” De Marchi suggests. “Oftentimes checklists can have very few items – sometimes even only three – and pilots may develop the habit of conducting the checklist mnemonically. Because of this habit, it becomes easier to forget – or not to conduct one or more items in the checklist.

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“The other person on the flight deck can help the pilot feel psychologically at ease.” “With checklists the quality of communication is only ensured when reference is made to the actual list, be it printed or digital,” he suggests. “This is important because the items on a checklist are often the last gate to catch an error.”

Operational Risk Management

The ‘Threat and Error Management’ model can also be used to increase situational awareness, especially during briefing and debriefing, as a support tool to identify and address threats, and capture and correct errors. “As an example, if we expect to have windshear conditions on departure it is very important to review the windshear recovery procedures normally published in the Quick Reference Handbook, and also the practice of moving from an abnormal event to a normal condition”, De Marchi illustrates.

Finally, a good practice to improve situational awareness is to establish a procedure requiring a risk assessment to be conducted for every individual mission. Unlike in airline operations, every flight in Business Aviation is a new experience, requiring its own risk assessment. “The quality of risk assessment boils down to a pilot’s mind-set,” De Marchi suggests. “Flying regularly to a destination where 90% of the time the weather is good without properly checking destination and en route alternates is not good risk awareness. “A proper risk assessment mind-set is one that does not become complacent with experience – it is one that recognises that all flight safety hazards can possibly manifest, and it considers them all in the preparation and conduct of a business aircraft mission,” he concludes. T

MARIO PIEROBON is a safety management consultant covering both fixed- and rotary-wing operations. He writes broadly on safety-related topics, with expertise of air operations and crew training safety regulations. As a consultant, Mario helps companies improve procedures. His knowledge of safety is valued by several industry-leading publications, including AvBuyer. More information from: https://www.linkedin.com/in/mario-pierobon-85991319/

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AVIONICS

Avionics 101: Breaking Open Avionics’ Complexity Ken Elliott continues his Avionics 101 series by delving into the avionics

categories, associated activities, and the systems themselves…

here are five core categories of avionics: Communication, Navigation, Surveillance, Interactive, and Cabin. When contemplating these categories remember that avionics are integrated and connect internally with the airframe and engines; with other aircraft operating in the vicinity; and with air traffic control. Furthermore, the cabin occupants and the flight crew remain in contact with flight departments, corporations and others, in real time, during a trip. Note that some cabin systems, such as Satcom, are shared by the cockpit, so there will often be a blurring between the five categories.

Establishing the Avionics Activities

The above five categories have different avionics activities taking place within them. The central activities are as follows:

Communication • •

Voice Data Comm

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As time moves on, so do the methods, technology and infrastructure of the airspace system. The activities of avionics will continue to change and develop. Communication used to be voice-only, but that is fast transitioning to digital voice or data comm. Communication used to be only aircraft-to-aircraft and aircraft-to-ground, but satellites have subsequently been launched allowing for satcom.

Navigation • •

Airport En route

The same goes for Navigation, where different satellites enable predictable flight tracks to be flown, worldwide. The use of satellite GPS navigation reduces reliance on ground infrastructure. Originally, pilots navigated using combinations and variations of ADF, VOR, VLF/Omega, LORAN, DME, and INS (see Table B for Acronyms). Now satellite-based GPS has been embraced, effectively only DME and INS are still widely used, while www.AVBUYER.com

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Internal surveillance uses feedback sensing, and monitors aircraft data buses to collect, record, and report virtual live aircraft status information.

Interaction • • •

VOR is slowly being phased out. Interestingly, DME has seen a revival, fueled largely by GPS cyber interference concerns, especially in a GPS-only environment. Different technologies are required for the different avionics activities, and in some cases a single system is capable of more than one activity (as an example, a Flight Management System (FMS) copes with both en route and airport demands). On the other hand, a typical Combined Vision System (CVS) is designed primarily for use in the vicinity of airports and not so much en route.

Surveillance • •

Internal External

Another benefit of avionics advancement is the ability of an aircraft to monitor itself. This relatively new activity is very different to the more familiar external surveillance of other aircraft using traffic, terrain, weather awareness, and emergency locating technologies. www.AVBUYER.com

Control Display Annunciation

Pilots need to interact with aircraft and engine systems. They need to control and select functions, see display information, respond to annunciations and act on warnings. The ability to readily interact is made possible by greater integration of the different systems and subsystems. For reasons of Size, Weight & Power, and cost (SWAPc), as well as increased reliability and safety, the integration of avionics has become more concentrated by developing a single card cage, covering multiple activities. This method of gathering the different avionics systems in one assembly is known as Integrated Modular Avionics (IMA). This has replaced the traditional racks of avionics boxes found in most legacy aircraft. The concentration of data, processed in fewer Line Replacement Units (LRU), has transformed the behind-the-scenes look of the modern aircraft. The same concentration has also permitted the display of more information in the cockpit. SWAPc considerations of how to handle the greater capabilities of cockpit displays has leveraged the commercial off-the-shelf (COTS) benefits of large-format flat screen displays, thus cleaning up the cockpit toward an ergonomic dream.

Cabin • • •

Comfort Business Entertainment

Nothing evolves faster than the features of an aircraft cabin. Partly, this is due to less regulation, and partly because the already advanced city-based office can easily become a business ‘office in the sky’. Cabin electronics have reaped the benefits of the commercial development of USB, HDMI, Wi-Fi, and Bluetooth, allowing the low energy transfer of data. The demand and popularity of walk-on devices; the desire for a ‘wire free’ seat experience; and even the luxury of a cappuccino machine, has made the cabin experience more like a trip to your local coffee shop. Coupled with personal environmental and other comfort controls, today’s business aircraft traveler may take their business aloft, or relax with entertainment as they choose.

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What are the Systems?

Within each, and across multiple activities, are the various systems and their sub-systems. These are typically identified by their function, method or objective. The acronyms and terms, used for these, are familiar to many in the aviation community. Table A breaks out the systems under each of the four activities. Some of the systems provide significant input to others, and can be considered as overlapping. Following is an overview of the systems listed in Table A (right)…

Communication Systems

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The communication systems mostly serve the # 23*.E5;.*# JD2@# # @8M#N#!DJ6# different methods of voice and data, both to and from the aircraft. Radio operation is # # 2HD#-./>(,*(,1# # %3*;(*1# dependent on frequency bands that are best # # O2&# # 75<+*5/<# for different circumstances. # # -$&G"D&# # ")P# If flying regionally, airport to airport the frequencies are VHF and UHF (military). If # # =79# # -);;# operating in oceanic or remote areas, HF and # # 25,0,)K*#9,)0F(,1# # A);;(C# Satcom/Iridium are necessary. Older Satcoms rely on Ku-band, Ka-band, as well as L-band to 8((#9):;(#M#K.,#20,./C?#D(10,5E*5./1# operate. Air-to-Ground (ATG) is domestic, mostly for non-Air Traffic communications, and is primarily used by the cabin. Examples of ATG are Gogo Business Aviation and navigation capability. However, even in the newest aircraft SmartSky. VOR, ILS and DME are still installed, and will remain in use With voice being replaced by data-comm, VHF devices while those capabilities exist. are now provided with both voice and data capability. Flight Management Systems are not always separate to Cockpit internal crew communications and that the GPS that provides their position data, but in all cases between cockpit and cabin is controlled by two complex the FMS is a complex navigation system. In larger aircraft and very capable audio systems that are independent for there will be triple systems to accommodate redundancy. each pilot. Closely associated with FMS is GPS. Its capability is extensive, being used as the signal source for departure, Navigation Systems en route, and approach navigation. Subject to cyber# As navigation has evolved, albeit slowly, we have moved security concerns being overcome, GPS may one day from land and airport-based infrastructure to a replace VOR and ILS. combination of satellite- and aircraft-centric, standalone Relying on air data and flight director data, the aircraft autopilot follows commands derived from their computations. An aircraft navigates from a large set of constantly changing situational and routing information. That also includes an earth-reference system that, in modern aircraft, operates using lasers. Within the past 15 years, aviation has gradually embraced vision systems that enable pilots to operate at airports during low-visibility conditions. A full vision system, using multiple sensors and cameras and head-up display(s), is called a Combined Vision System, but you will often come across the term Enhanced Flight Vision System-EFVS (FAA) or EVS (EASA).

Surveillance Systems

External: It is only recently through transponder advancements that surveillance has come into its own. When you think about it, anything the aircraft does to watch, monitor and record is surveillance. So is the ability to alert others to any emergency. Modern radars – as surveillance – are extremely 104 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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capable, and are able to see weather, sense lightning, turbulence and windshear conditions. Seeing other aircraft, terrain and obstacles is crucial to safety, so the aircraft surveils the sky and earth as an act of avoidance. The Transponders, ADS-B, TCAS, TAWS, SVS and EVS that are all used in navigation are crucial to this function, and are so smart they will provide only appropriate warnings and avoidance maneuvers in response to the aircraft’s actual movement through the airspace. The constant tracking of aircraft is becoming more acceptable and when Spaced-based ADS-B is fully implemented, the loss of an aircraft will occur less frequently. Even the pint-sized emergency ELT is now capable of sending position data, originating from the aircraft GPS. Internal: Monitoring of onboard systems is also part of surveillance activity. Here, data is sensed, acquired, converted and processed to provide a virtual live status of aircraft and engine systems. The data can be stored in a MDAU, QAR, Combined Digital Flight Recorders (CVR/FDR), or it can be displayed to the crew and relayed to the ground via satellite data communications. This relatively new health monitoring of an aircraft is a burgeoning business.

Interaction Systems

In a sense – and because they are now interactive – displays in the cockpit can cope with much of the flight 106 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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crew cockpit activity. Displays also now provide most of the annunciations and warnings that in former times were scattered (as separate annunciator blocks) throughout the instrument panel. Both displays and controllers are becoming touchscreen capable. Knobs, cursors and buttons are replaced by direct on-screen selections. This, in turn, will remove separate controllers altogether as interactive activity can now take place on the cockpit displays. When looking at business aircraft generally, you will see versions of displays and instruments that range from large format, flat panel touchscreens; to much-older cathode ray tube screens with separate analog instruments; and everything in between. Anyone evaluating an aircraft trade, can safely assume that the greater the age of the aircraft, the more analog its functions and the more cluttered the cockpit will likely be. Before data is displayed in the cockpit or used by other systems, it will be concentrated, adapted and enabled for transfer from side-to-side. Information may be displayed on multiple displays, some primary and some secondary. The more crucial the data is to the actual flight, the more it needs to be within the primary view of the pilots. Because of redundancy and safety, all aircraft must have standby instruments. These are separately powered by an emergency battery and will permit the pilot flying (PF) to continue the flight to the nearest permissible runway, in the event of a total loss of aircraftgenerated power.

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Cabin Systems

The cabin is like an independent pod that sustains the needs of its passengers. Because today’s flyers desire a seamless experience between on-the-ground and in-theair, they can now board with their personal devices and connect the same way they would elsewhere. Again, the three primary Cabin activities that the various onboard systems align with are: 1.

Comfort - Environmental - Lighting - In-Seat Controls - Galley - Window Shades

Business - Satcom - Power and Data - Fax - Internet/Wi-Fi - News and Finance

Entertainment - Personal Devices - Stored Media - Live Satellite Media - Streaming Video - Air to Ground Internet - Iridium - In-seat and Bulkhead Displays

Avionics plays a role in all these systems and services. There is also significant overlap, where the same system can be offering resources that are useful for both business and entertainment purposes (i.e. onboard Wi-Fi). Keep in mind that cabin comfort systems used to be analog-electrical in nature, using mechanical controls and electric devices, but because of the greater digitization of these features, today their support usually falls into the lap of the avionics specialist. The cabin is controlled from the cockpit that enables its power, announces take-off and landings, and provides an intercom with a cabin call ability. Larger business jets rely on a fully integrated CMS, where in-seat touchscreen controls and a galley panel will provide access to the cabin’s many features and functions. While the CMS has uniformity in all its devices, it does limit the operator when upgrades are required. More recently there have been situations where obsolescence

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of parts has required a complete CMS replacement, allowing third-party vendors to offer novel, and less expensive alternatives.

In Summary

Avionics have expanded their portfolio over the past 100 years since the first communication devices and navigation instruments were introduced. Systems that control and direct the aircraft between airports have evolved to be more aircraft-centric, relying less on ground infrastructure, and sharing satellite data with other transport and technology. With so many different aspects to avionics, it must be confusing to anyone new to aviation and even some veteran flyers. The hundreds of acronyms used throughout avionics (and other aircraft technologies) requires additional concentration from the enquirer. Hopefully this foray into the surface layer of avionics will be helpful to AvBuyer readers. Future Avionics 101 articles will cover all five categories via separate articles, with a focus on information useful to owners, operators, consultants and brokers alike. ❙

KEN ELLIOTT has 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 systems, 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.

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How to Future-proof Your Avionics Avionics are a key focus for business jet operators, with significant implications for safety and performance. Today’s increasingly integrated systems offer a strong value proposition, according to industry experts. Gerrard Cowan explores… usiness jet avionics have always been focused on two main goals, according to Thomas Chatfield, CEO of MRO specialist Camber Aviation: enhancing safety and increasing capabilities. From a human factors perspective, these goals must also reduce pilot workload, he says. Chatfield points to the work of several major aircraft manufacturers in incorporating fly-by-wire flight controls and large touchscreen displays. Additionally, head-up displays receive sensor data to increase situational awareness and boost safety in various areas. Chatfield highlights the evolution of head-up guidance (HUG) in particular, which can significantly improve approaches and landings. Recent developments have increased HUG capabilities while lowering costs, making this upgrade affordable on even Mid-size and Light Jets,

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Chatfield says. “If a business jet owner decides to make a single investment into their aircraft flight deck to increase safety while reducing workload, then a HUG would be my first recommendation.” Technology has been moving towards singlesupplier, fully integrated flight deck avionics systems, Chatfield says. Rather than depending on individual systems with their own displays or representative symbologies, the data is being combined or fused “onto displays that are simpler to read and understand; that are more intuitive and less prone to misinterpretation than the last generation of flight decks”. Michael Kussatz, East Coast Regional Avionics Sales Manager for Duncan Aviation, says his company is seeing more interest in upgrading to the FAA’s Wide Area Augmentation System (WAAS), a highly accurate navigation system that improves upon GPS service and allows for Localizer www.AVBUYER.com

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A Garmin G5000 avionics suite installed by Elliott Aviation on a Cessna Citation Excel

The Initial Investment is the Largest Expense

Performance with Vertical guidance (LPV) approaches. These increasingly common approaches allow for greater flexibility in flight crews, though Kussatz notes that some of the required upgrades can be “fairly expensive compared to the value of the aircraft”. Bill Forbes, Director of Avionics Sales for Elliott Aviation, pointed to a continued move towards the integration of mobile devices, with some cockpit systems integrating flight plans over Bluetooth, as well as ADS-B traffic and weather. However, the most significant technological trend shaping business jet avionics is obsolescence, he says, with “a considerable proportion of airplanes in operation with ageing avionics systems”. While many of these have a path to upgrade their avionics, some do not, and must rely on costly exchanges, repairs or used equipment. www.AVBUYER.com

For cockpit avionics, the initial investment in the new equipment is the largest expense, Forbes notes. All of the existing avionics components and wiring are removed in many retrofits, with new wire harnesses installed, making the retrofit “truly a replacement of the entire avionics system”. The savings in repairs, and the cost of maintenance contracts will pay for a large percentage of the upgrade costs over a three- to five-year period, Forbes says, while Elliott Aviation has seen major avionics retrofits hold up to 80% of their value on the resale market. There are other benefits that can’t be valued in monetary terms, however, namely “With the new technology advancements, the amount of information that is displayed and the features in the new equipment increase the pilot’s situational awareness and make flying that much safer,” Forbes explains. Some retrofits can actually cost less than maintaining a legacy avionics system, Forbes notes; as systems age, supply for replacement parts becomes scarcer, driving up the cost. “If you are operating a legacy avionics system, it would be best to keep a spare set of used equipment on hand, helping avoid delays and potentially higher future prices of ageing avionics.” But upgrading avionics will not always guarantee resale value, Chatfield says. It is important that mandated upgrades are approved by both the FAA and EASA, as this will ensure that in the event of a sale, the aircraft can easily move to another registration without further modification. It is also important that upgrades are covered by an OEM Service Bulletin or through an approved Supplemental Type Certificate (STC), “and that the equipment supplier is well-known, and the installer reputable”. There are major costs associated with installing systems that have not yet been approved for a particular aircraft, Chatfield warns. Being the first invariably requires longer downtime and cost than purchasing an already approved STC. It could be beneficial in other respects, he notes. “If an owner wants to be the first with a particular upgrade, then they should come to an agreement with the installer that subsequent sales of the STC will result in a royalty payment to the owner.”

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For cockpit avionics, the initial investment in the new equipment is the largest expense, according to MRO specialist Elliott Aviation

“While upgrades are expensive, it really depends on what your mission is in determining if the costs are justified...” Think Ahead of the Curve

The cost of avionics upgrades can be minimized through a knowledgeable flight department that understands future avionics requirements and plans for the future. “It is incredibly expensive to simply meet new avionics requirements one-at-atime, when they’re required by regulatory authorities,” Chatfield says. “Instead, professionals stay abreast of new and upcoming avionics mandates, as well as new requirements for specific airports/approaches that they plan to fly into.” By understanding your upcoming requirements, it is also possible to bundle different types of work together, upgrading all of the affected systems in one maintenance input, Chatfield says. This requires good planning and research, “but will invariably result in a shorter downtime, and lower costs”. Jens Hennig, Vice President of Operations at the General Aviation Manufacturers Association (GAMA), agrees that operators should look to bundle upgrades together. For example, if they are opening up their aircraft to meet a government mandate in an area like ADS-B, they

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could take the opportunity to also install additional safety features. Operators should consider the need to futureproof the aircraft; when they decide to make a basic investment, they should perhaps “make the bigger investments so you don’t have to do it again in three to five years,” Hennig suggests. “Pause before you take that step of taking it out of service to make sure that you do the full [upgrade],” Chatfield says, “so that next time you do this, it’s a decade in the future.” Potential sources of information include OEM forums, the operator’s contracted MRO shop, and industry bodies like the Aircraft Electronics Association (AEA), GAMA, the National Business Aviation Association (NBAA) or European Business Aviation Association (EBAA). While upgrades are expensive, “it really depends on what your mission is in determining if the costs are justified”, says Kussatz. It is also becoming harder to support older avionics systems, he says. “And many operators choose to upgrade just so they don’t miss trips because of unplanned and costly repairs”.

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Photo courtesy of Duncan Aviation U

Upgrades are Becoming More Complex

Operators should understand that avionics upgrades are becoming more complex, depending on the aircraft’s existing systems, its age, and how much is being upgraded, Kussatz says. The systems have become less and less about wiring and more about considerations like software and system configurations. If operators believe an MRO’s quote is too expensive, they should try to learn more about the technicians involved, to establish their expertise in the area, Kussatz suggests. “When getting quotes from different MROs, I think it's a good idea to seek out other operators who have used each MRO, and find out why they like the MRO,” he adds. “Look for people who love them, and find out why they love them so much.” Collins Aerospace is a leading manufacturer of business jet avionics. According to Charles Wade, Director of Marketing for Business and Regional Avionics, operators should look at the value proposition of an upgrade from several different angles. For many years, there has been a view that an upgrade investment should consume no more than 10-15% of hull value, Wade says. However, operators should rethink this approach, “because the value proposition of some of these technologies exceeds that number”. Wade said the impact could also be felt in terms of time. For example, an upgrade could significantly increase interest in the aircraft on the resale market, meaning it could be sold in three months rather than a year, for example. Collins manufactures a wide range of avionics U

Photo courtesy of Collins Aerospace

GERRARD COWAN is a freelance journalist who focuses on aerospace, defense and finance. He can be found on Twitter @GerrardCowan

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upgrades available for the Pro Line 21 and the Pro Line Fusion suites. Wade says the company has seen particularly strong recent interest across multiple platforms in the MultiScan Weather Radar and its Future Airspace Navigation System (FANS) 1/A upgrade. If operators are considering a modernization package, they must “do their homework”, Wade adds. When talking to Pro Line operators, the company recommends maintaining a baseline and keeping it up to date, potentially making largerscale upgrades easier to implement in the future. “Making those incremental investments today is really important, because there are more changes to come.” T

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COMMUNITY

OEM Bites

Bell delivered a Bell 505 helicopter to W.A. Oil Factory and Distribution PLC in Addis Ababa, Ethiopia – its first corporate customer in the country. With this latest acquisition, there are almost 30 Bell 505s in operation across six countries in Africa and the Middle East. www.bellflight.com

Final Commercial Gulfstream G550 Delivery Gulfstream Aerospace announced the final commercial Gulfstream G550 delivery to an international customer, further increasing the worldwide fleet of more than 600 G550s already in service.

ith the delivery being made on June 30, Mark Burns, President, Gulfstream reflected, “For nearly two decades, the G550 has been exceeding customer expectations.” The G550 set a high standard for performance and reliability, and continues to be popular within the preowned business jet market with its wide-ranging capabilities. Burns offered reassurances to existing operators of the G550, adding “we look forward to continuing to support all G550 customers around the world with Gulfstream Customer Support’s extensive network.” The G550 entered service in 2003 as the launch platform for the Gulfstream PlaneView flight deck, and was also certified with Enhanced Vision System — now known as Enhanced Flight Vision

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System (EFVS) — as a standard feature. The aircraft has a maximum range of 6,750 nautical miles, and has earned more than 55 speed records over the years. Lower G700 Cabin Altitude… In other Gulfstream news, the G700 will offer a lower-than-expected cabin altitude. Originally announced with a cabin altitude of 3,290 feet when flying at 41,000 ft, the G700 cabin altitude at the same flight level has been improved to 2,916 ft. With this enhancement, Gulfstream claims the G700 “retains its leadership position with the lowest cabin altitude in the Business Aviation industry”, and “will provide even more comfort for passengers over the ultra-long-range flights the G700 is capable of achieving.” More information from www.gulfstream.com

Bombardier received a firm order for 10 aircraft from an existing customer. For competitive reasons, both the order mix and the customer remain undisclosed at present, but the agreement represents a total value of US$451.8m. “We are filled with pride as we announce the year’s largest business jet order,” said Éric Martel, President and CEO, Bombardier. https://businessaircraft.bombardier.com/

Dassault announced that a third Falcon 6X recently joined the flight test campaign, moving the “longrange, extra wide-body” twin-engine jet a step closer to its anticipated certification in 2022. Falcon 6X s/n 003 is fitted with a full interior and will be used for cabin design validation. www.dassaultfalcon.com

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OEM Bites

Embraer has delivered the first limitededition Phenom 300E aircraft — part of the Duet collaboration with Porsche — to an undisclosed customer in Fort Lauderdale, Florida. The aircraft was delivered at Embraer’s state-of-the-art Global Customer Center in Melbourne, Florida. https://executive.embraer.com/

New Features Incorporated on the Pilatus PC-24 Based on customer feedback from over 50,000 hours of fleet operations, Pilatus has incorporated several new features into the PC-24. mong the new features are fully-reclining executive seats that are designed to provide more comfort, more intuitive controls, and a lighter weight. Attached to the cabin’s flat floor with quick-release mechanisms, rapid seating configuration changes are possible. Meanwhile, in lieu of the standard forward left-hand coat closet, operators may now choose to install a galley with options for a microwave oven, a coffee or espresso maker, a work surface, dedicated ice storage, and capacity for standard catering units.

Smarter Avionics In the cockpit, Pilatus and Honeywell have continued to develop and refine the Advanced Cockpit Environment (ACE). A touch-screen avionics controller replaces the multi-function controller as standard equipment. The PC-24’s flight control system also now incorporates Tactile Feedback in both roll and pitch to prevent unintended, unusual attitudes. If the aircraft rolls through 51 degrees bank angle, roll limit protection will engage to bring the aircraft back to 31 degrees bank angle. And if the PC-24 is predicted to exceed the Vmo/Mmo limits, the pitch servo will

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engage until the aircraft exits the potential over-speed condition. Tactile Feedback protection is provided even with the autopilot turned off. Meanwhile, the standard auto-throttle system includes a new Automatic Speed Protection function offering both underand over-speed protection by automatically engaging the autothottle to adjust power during all phases of flight. In addition, a new automatic yaw trim function further reduces flight crew workload during the departure and climb phase, and is automatically activated when the yaw damper is engaged, attempting to hold the aircraft to zero sideslip. The Advanced Cockpit Environment now also features Pilot-Defined Visual Approach, allowing the pilot in command to easily set up an autopilot and autothrottle coupled visual approach to any runway, and precisely track a left-hand, right-hand, or straight-in pattern down to the runway threshold. Among the other new avionics features offered on the PC-24 are Honywell’s SmartRunway and SmartLanding advisory functions which enhance safety and reduce pilot workload. More information from: www.pilatus-aircraft.com

VoltAero signed a MoU with Airways Aviation, the launch customer in France for its Cassio hybrid-electric aircraft. VoltAero is developing four-, six-, and ten-seat airplanes – the Cassio 330, 480 and 600, respectively – which could be deployed for regional mobility in Southern France, and in pilot training for Airways Aviation. www.voltaero.aero



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DEPARTMENTS WORLDWIDE

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COMMUNITY

JSSI Acquires SierraTrax Jet Support Services, Inc. (JSSI) has acquired SierraTrax, a leader in aircraft maintenance tracking. SierraTrax provides maintenance tracking software for business aircraft worldwide through its modern technology interface. s a Textron Aviation recommended provider of maintenance tracking services, the SierraTrax platform is used extensively by Cessna, Beechcraft and Hawker operators. The company supports most Turboprop, Light and Mid-size Jets, but will now focus on extending the service

into the Super Mid-Size and Large Jet segments, enabling it to align with JSSI’s coverage of virtually every make and model of business jet, turboprop and helicopter. “The SierraTrax team has done an incredible job establishing a leadership position in a crowded maintenance tracking space in just five short years,”

said Neil Book, chairman and CEO of JSSI. “Their remarkable rate of growth has been fueled by great technology, an easy-to-use interface and a commitment to customer service, innovation and data transparency.” “We started SierraTrax to provide a modern maintenance tracking solution at an affordable price,” Jason Talley, CEO of SierraTrax added. “We share a common value system with JSSI, centered around exceptional customer service. Together, we will take the business to the next level and extend our offerings to a broader customer base, bringing modern, accessible technology and pricing to operators worldwide.” This strategic move into the maintenance tracking space will blend insight from SierraTrax with more than 30 years of JSSI operating cost data and complement the company’s existing portfolio, which also includes JSSI Advisory Services and Conklin & de Decker. “This exciting new partnership will enable the JSSI platform to deliver a full suite of highly complementary services to the market that will simplify and optimize the entire maintenance experience, allowing owners and operators to manage their aircraft more efficiently,” Book concluded. More information from www.jetsupport.com

Global Jet Launches New Website Global Jet started the summer by launching a brand-new website in English. Meanwhile French, Spanish, Russian and Chinese versions will soon also be available. Designed with a modern look with more functionality, the new site will also be highly interactive.

ccording to the company, all Global Jet services are highlighted intuitively, enabling the end-user to more easily understand the company’s philosophy, high standards and activities. Charter & Brokerage: Users are given the opportunity to directly request charter quotes online. From Very Light,

118 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Light, Mid-size and Long-range Jets, through to VIP airliners, all aircraft are listed and are available for rent. Users will find professional photos of the aircraft, 3D virtual tours, videos, floorplans, range maps and other new content.

aircraft sales and acquisitions, thanks to new filter criteria (Year, Price, and Manufacturer). Moreover, the Aircraft Sale Process and Aircraft Acquisition Process are highlighted in order to provide full transparency for Global Jet’s clients.

Aircraft Sales & Acquisitions: A better search of the aircraft is also provided for

More information: https://globaljet.aero

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Community News.qxp_Layout 1 21/07/2021 12:34 Page 4

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Community

Appointments

Sam Campos

Vivek Kaushal

Brian Foersch

Jean-Marie Bégis is the new Director of Product Management and Partnerships at Universal Avionics. He will initially drive connectivity related product initiatives and contribute to innovation strategies. Jean-Marie has more than 20 years of experience in business development and implementation of mission critical mobile communications, aircraft data link services, and aerospace systems.

Cole White

Vivek Kaushal was recently appointed Chief Executive Officer (CEO) at Global Jet Capital, taking over from Shawn Vick who will assume the role of Executive Chairman. Vivek joined the Company in 2015, in conjunction with Global Jet Capital’s acquisition of the GE Capital business aircraft portfolio and was named Chief Operating Officer in June 2019.

Sam Campos has returned to OGARAJETS having previously shown his value to the company in 2019 during an internship. Campos joins the OGARAJETS team full-time as a Sales Engineer.

Christopher Whelchel is announced as the new Chief Financial Officer for Universal Avionics. He joins Universal Avionics with over 16 years of experience in the aerospace industry, with extensive experience managing working capital, FP&A, and building efficient teams.

Brian Foersch accepted the position of Bombardier Service Sales Representative at Duncan Aviation’s full-service MRO in Lincoln, Nebraska. In his new position, Foersch will coordinate maintenance transactions for the Global and Challenger series product line.

Cole White has been named Managing Director – South for Mente Group. He previously served as Mente’s Vice President of Transactions, where, according to company CEO, Brian Proctor, he proved “enormously valuable to Mente Group’s clients”, handling numerous aircraft sales and acquisitions. T

The BEST Aircraft For Sale Search anywhere, everywhere on pc, smartphone and tablet

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.com AVBUYER MAGAZINE Vol 25 Issue 8 2021

119

Clip Group 2020 Bell 505 Jet Ranger X August.qxp_Heeren Cit Ultra sep 21/07/2021 11:06 Page 1

S H O W C A S E

2020 Bell 505 Jet Ranger X Serial Number: Registration: Airframe TT:

65253 SP-MRW 26

 As owner, we are proud to present  this BRAND NEW Bell 505  Price from Bell in this configuration  (including ferry to EU) was $1,85M  Now reduced to $1,72M Airframe Delivery hours: 26 hours Dual Pilot Controls Wire Strike protection Engine Dual-channel FADEC engine control system Auxiliary Control Unit (backup for HMU) Automatic startup Surge and flame-out protection Engine parameter recording for maintenance (BOOST compatible) Automatic cycle and flight hour counting

ADS-B GPS / WAAS receiver VHF COM transceiver VHF NAV and glideslope receivers Exterior Painted 2020 Metallic Black with Dynamic White Bell 505 logo Interior 2020 Premium interior with black leather seats Floor protectors: Baggage bay, Cockpit & Cabin A20 Bose headsets w/Bluetooth Air-Conditioning Location Swarzędz Gmina, Greater Poland, Poland Contact: Agnieszka Hips

Avionics ADS-B Equipped Garmin G1000H™ avionics suite Integrated on PFD / MFD Traffic Information System (TIS) Moving Map Fuel and NAV range HTAWS, and Synthetic Vision System

STS Centrum Dystrybucji Samochodów Sp. z o.o. Swarzedz, Poland

120 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Tel: +48 663 792 802 E-mail: agnieszka.hips@clip-group.com

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Falcon Aviation LLC August.qxp_Empyrean 21/07/2021 11:08 Page 1

S H O W C A S E

1995 Gulfstream GIVSP Serial Number: Registration: Airframe TT: Landings:

1252 N707CW 8,588 4,824

Beautiful must see airplane with brand new paint and interior. Two Rolls-Royce Mk 611-8 engines provide 13,850 lbs of thrust each. Inspection interval is 8,000 hours. The Roll-Royce upgraded engine is responsible for 15% improved fuel consumption and decreased noise levels. Another addition is the six-screen, color EFIS. The Honeywell SPZ-8000 avionics suite is found in the GIVSP’s cockpit. It includes Collins radios, FMS and dual Honeywell laser inertial reference systems. The GIVSP is an ideal midsize, intercontinental-range business jet. Gulfstream’s aircraft have evolved through new technologies and improvements, and the GIVSP is evidence of this. With a new design, upgraded engines and additional space, the GIVSP offers great performance in the intercontinental class of jets; so great that Gulfstream modeled most of their latest jets off of the GIVSP Engines ROLLS ROYCE TAY 611-8 Next Engine Event, Midlife due September 2024 APU Honeywell GTCP36-150 (G). 8,788 hours Avionics Autopilot: Honeywell SPZ-8400 IFCS Avionics Package: Honeywell SPZ-8400 IFCS/Collins

Communication Radios: Dual Collins w/8.33 kHz spacing CVR: Fairchild F1000 DME: Dual Collins EFIS: Honeywell 6-tube FDR: Fairchild A100A (QAR) Flight Director: Honeywell SPZ-8400 IFCS FMS: Dual Honeywell NZ-2000 w/6.0 software GPS: Dual Honeywell 12-channel GPS Hi Frequency: Dual Collins HF-9000 w/Motorola NA-138 SELCAL IRS: Triple Honeywell LASEREF II Navigation Radios:Dual Collins w/FM immunity RTU-4210 Interior Excellent Condition! All Wood & Plating Refurbished in 2015. Executive/12 passenger, Earthtones Leather & Fabric Interior. Seating: Forward 4-place club, Mid-cabin 4-place dining group, Aft 4-place Club, 2 jumpseats Refreshment: Full Aft galley with Oven, Sink, Storage, Microwave Etc. Cabinetry: Mid-cabin Credenza for Storage Entertainment: Airshow Cabin Entertainment System w/DVD, CD, Three Monitors Exterior New Paint 2019 Duncan Aviation Overall Chevron White with Blue & Gray Stripping Location Florida, USA Price: $4,500,000

Falcon Aviation LLC Jupiter, Florida USA

www.AVBUYER.com

Tel: +1 (321) 292-9965 Email: jamie@falcon50aviation.com

AVBUYER MAGAZINE Vol 25 Issue 8 2021

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Mesotis August.qxp 21/07/2021 11:09 Page 1

S H O W C A S E

2020 Beechcraft King Air C90GTx Serial Number: Registration: Airframe TT:

LJ-2178 N689JR 100

Standard equipment:  Pro Line Fusion Integrated Avionics System  Collins radios with dual COMM, dual NAV,  dual audio control panels, single DME  Dual TDR-94D Mode S Transponders with  Flight ID and ADS-B Out compliant  Collins TWR-850 Turbulence Weather Radar  Dual Pro Line Fusion FMS with WAAS LPV  approach capability and Radius to fix legs  ACSS TAWS+ Class A  L3 Communications Skywatch (TCAS I)  Artex C406N ELT  Electronic Charts  Single Collins ALT-4000 Radio Altimeter  Onboard Maintenance Diagnostic System  L3 Communications GH-3900 ESIS  L-3 Communications FA2100 Cockpit Voice  Recorder  Synthetic Vision Technology (SVT) Location Austria Price: Please call

Mesotis Jets Thomas Thums Fleischmarkt 7/3 1010 Vienna Austria

122 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Mob: +43-67-6590-0082 Tel: +43-1-533-757216 E-mail: tthums@mesotisjets.com www.mesotisjets.com

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Vienna Jets 2009 Cessna Citation CJ2+ August.qxp_Empyrean 21/07/2021 11:34 Page 1

S H O W C A S E

2009 Cessna Citation CJ2+ Serial Number: Registration: Airframe TT: Landings:

 FOR IMMEDIATE SALE  EASA certified  CAMO controlled  WAAS/LPV  ADS-B out  No Damage History

525A-455 OK-MAR 4530 3335

Engines TAP Blue Engine Maintenance Program Engine 1 Manufacturer: WILLIAMS Engine 1 Time: 4530 SNEW Engine 2 Manufacturer: WILLIAMS Engine 2 Time: 4530 SNEW Avionics Rockwell-Collins Proline 21 with 3-Tube EFIS Dual Pro Line 21 CNS Radios Dual Collins AHC-3000 AHARS Dual Collins ADC-3000 ADC Dual Collins Audio Control Panels Dual TDR-94D Mode S Diversity Transponders (ADS-B out) GPS - Garmin GPS-500 Single Collins FMS-3000 - WAAS/LPV Single Collins DME-4000 Single Collins ADF Collins TCAS-4000 (TCAS II 7.1) Collins Alt-4000 Radar Altimeter Collins WXR-800 Provisions for CVR FA-2100

Maintenance & inspections No corrosion or damage history recorded Complete Logbooks Doc 3 Inspection c/w 07.2019, next due 07.2021 Doc 8 Inspection c/w 11.2020, next due 11.2022 Doc 10 Inspection c/w 02/2020, next due 02.2023 Doc 11 Inspection c/w 05.2021, next due 05.2024 Interior & entertainment Number of Seats: 7. Galley Configuration: Forward Lavatory Configuration: Aft & Belted This tailored and classic interior is overall beige. The passenger seats are light beige Townsend leather. Window reveals are covered in Cornsilk fabric with the lower sidewalls in beige textured fabric. The carpet is Walnut Kalogridis cut pile. Cabinetry is finished in Pommele Figured Imbuya high gloss wood veneer with brushed aluminium hardware. Six passenger seats are arranged in a centre-club configuration with a belted flushing toilet in the lavatory. There is a RH refreshment centre, a LH storage cabinet with AvVisor display and a RH navigation chart case Exterior Year Painted: 2009 Overall Snow White with Mocha Frost, Winfield Bronze and Dark Brown Metallic stripes Additional equipment Airstair Style Entry Step. 50 Cubic Foot Oxygen B/E Crew Oxygen Masks. Tail Flood Lights Integrated Pulse light System. Airshow. RVSM Location Czech Republic Price: Please call

Vienna Jets Thomas WIESER, Managing Director Kolschitzkygasse 2/18 1040 Vienna, Austria www.AVBUYER.com

Tel: +43 676 7217335 Email: sales@viennajets.com www.viennajets.com

AVBUYER MAGAZINE Vol 25 Issue 8 2021

123

1 Marbale Universal June.qxp_Empyrean 21/07/2021 11:35 Page 1

S H O W C A S E

2020 Gulfstream G500 Serial Number: 72036 Registration: OE-LVA Airframe TT: 74.7 Landings: 48  Brand new, 13 passenger aircraft, under  75 hours of flight time  EASA Certified and FAA Compliant  Aircraft registered in Austria  Vinyl Flooring in Entryway and Gallery Area  Removable Acoustic Curtain between  Cabin 2 and 3 Engines Pratt and Whitney PW 814GA Left engine Right engine S/N: #1 PCE-GA0122 #2 PCE-GA0116 THSN: #1-69.5 Hrs #2-69.5 Hrs TCSN: #1-46 cycles 2#-46 cycles Program Coverage: JSSI APU Honeywell HGT400 (GVII-G500) S/N: P-153

Email: KOKOLOFF@gmail.com

124 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Total hourse since new: 118 HRS Program coverage: JSSI Airframe Home Base: Moscow Program Coverage: Warranty Airframe and Outfitting Maintenance Tracking: CMP Certification: EASA Avionics The Aircraft is Equipped with Honeywell Primus Epic II refer to the attached List for the single components Currently Operated under EASA (ASC 007) ARINCDIRECTSM DATALINK SERVICE PROVIDER CONFIGURATION (ASC 12A) EEC Software Update perf (ASC 22B) INTEGRATED MODULAR AVIONICS (ATA 42) SYMMETRY FLIGHT DECK MASTER OPERATING SYSTEM SOFTWARE UPDATE (ASC900A) EVAS installed

Vasily

Additional equipment ADS-B out equipped FANS and CPDLC 13 Pax and 3 Crew Fwd LH and RH Galley and fwd Lavatory Fwd Cabin - 4 club seat and two double seats Side credence Aft Cabin - 2 club seat and 3 place divan Sleeping possibility for 6 Pax Aft lavatory Baggage compartment accessable via aft lavatory Watersystem with waterheater and a 60 Liter Tank Galley equipped with Refrigerator, Hot Air Oven and Micro wave oven plus Coffee Maker and Espressomaker Exterior Aircraft is New Painted (Sep 2019) Matterhorn White (Wing Walk) Stripes Blue Pearl and Silver Pearl)

UK Mobile: +44 7500 5549 57 Russian Mobile +7 915 294 74 55 WhatsApp Only: +1 765 705 01 14

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Aero-Dienst GmbH August.qxp_Empyrean 22/07/2021 12:40 Page 1

S H O W C A S E

Asking Price: US$10,750,000 2004 Dassault Falcon 900EX EASy II Serial Number: Airframe: Landings:

133 8918:04 3631

• One Owner/One Operator • 19 Pax Corporate Shuttle/VIP configuration • Always hangared • Engines/APU on MSP Gold • Fwd Crew Lav & 3rd Crew Member Seat • Aero-Dienst Maintenance and CAMO • EASY II 4th Cert. Enhanced Avionics • Equipped for CAT IIIa ops • Currently undergoing 1C/3C Inspections • at Aero-Dienst (EDDN) • Confirmed paint slot (all-over white) 3Q 2021 • Available end of 2021/beginning 2022 Engines 1 - Make and Model: Honeywell TFE731-60-1C Serial No.: P112257. Total Time: 10423:50 hrs Cycles: 8040 2 - Make and Model: Honeywell TFE731-60-1C Serial No.: P112520. Total Time: 8821:00 hrs Cycles: 3564 3 - Make and Model: Honeywell TFE731-60-1C Serial No.: P112519. Total Time: 8503:47 hrs Cycles: 3396 APU Make and Model: Honeywell GTCP36-150(F) Serial No.: P-455. Total Time: 3332 hrs All three Engines and APU enrolled on Honeywell MSP Gold

Avionics Honeywell Primus Epic EASy II (4th Cert): 3 Honeywell EASy Flight Management Systems (FMS) 3 Honeywell LASEREF V Inertial Reference Units (IRS) 2 Honeywell NV-875B Navigation Radios (NAV) 2 Honeywell XS-858B Transponder (XPNDR) 3 Honeywell TR-866B Communication Transceiver (VHF) 2 Rockwell Collins HF-9034A HF Radio (HF) w/ SELCAL 1 Magnastar C-750 Satellite Phone (SATCOM) 1 ACSS RT-951 Change 7.1 TCAS 2000 (TCAS) 1 Honeywell Enh. Ground Prox. Warning System (EGPWS) 1 Honeywell Primus 880 Weather Radar (WXRADAR) 1 Honeywell SSCVR Cockpit Voice Recorder (CVR) 1 Honeywell SSFDR Flight Data Recorder (FDR) 1 Elta ADT-406 AF/AP Emergency Loc. Transmitter (ELT) Other Features/Options Electronic Jeppesen Charts (SB F900EX-244) HGS CAT 3 (SB F900EX-247) Wing Tank Modification (SB F900EX-329) Enhanced EASy II incl. RAAS (SB F900EX-400) Enhanced Navigation LPV (SB F900EX-401) ADS-B out (V2) (SB F900EX-402) Synthetic Vision System (SB F900EX-403) CPDLC ATN-B1 (SB F900EX-408) CPDLC FANS 1/A+ (SB F900EX-409) Enhhanced EASy II Cert. 4 (SB F900EX-560) Push-to-Load Function (SB F900EX-563)

Aero-Dienst GmbH Andreas Strabel Flughafenstrasse100, 90411 Nuremberg, Germany www.AVBUYER.com

Tel: +49 911 93 56-121 Email: andreas.strabel@aero-dienst.de www.aero-dienst.de

AVBUYER MAGAZINE Vol 25 Issue 8 2021

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P126-129.qxp 21/07/2021 12:28 Page 1

M A R K E T P L A C E

Boeing 737 35B

Gryphon Aviation Leasing

Tel: +1 (786)-488-5142 E-mail: chris@gyrphonleasing.com

Price:

Please call

Year:

1988

FOR IMMEDIATE SALE

S/N:

24269

Total Cycles: 23,614

Reg:

N789LS

Interior & Entertainment: Current Passenger Seating: 40 Seats

TTAF:

41,440.8

Contact: Christopher Watkins

Location: USA

www.gryphonleasing.com

Boeing 737 35B

Gryphon Aviation Leasing

Tel: +1 (786)-488-5142 E-mail: chris@gyrphonleasing.com

Price:

Please call

Year:

1988

FOR IMMEDIATE SALE

S/N:

24220

Total Cycles: 26,336

Reg:

N788LS

Interior & Entertainment: Current Passenger Seating: 26 Seats

TTAF:

38605.7

Contact: Christopher Watkins

Location: USA

www.gryphonleasing.com

Gulfstream G550

The Ritchie Group Price:

Make offer

Year:

2012

S/N:

5364

Reg:

TTAF:

2,268.7

Location: USA & Canada

Tel: +1 (314) 409-4791 E-mail: sales@jet-transactions.com AVAILABLE NOW. SCHEDULE YOUR SHOWING TODAY! JetWave Ka-Band High Speed Worldwide Satellite Internet. Fresh 96-Month Inspection Completed at Gulfstream Dallas. Paint and Interior Upgrades Completed at West Star Aviation. Highly Optioned with RAAS and SVS. 2020 Compliant! ADS-B Out (DO 260B), CPDLC FANS 1/A, Enhanced Navigation, Lightning Sensor System & Airshow 4000. Impeccable Maintenance History. 16-Pax with Full-Service Aft Galley. Forward Crew Lav. TTSN: 2,238.7 hrs. Landings: 972. Engines: Rolls Royce BR700-710C4-11 (G550). APU: Honeywell RE220 (G550).

www.jet-transactions.com

Cessna Citation Bravo

Jason Karlin Price:

USD $885,000

Year:

1998

S/N:

550-0850

Reg:

N125PK

TTAF:

8316

Location: USA & Canada

McDonnell Douglas 500E

Anthony Draper Price:

Make offer

Year:

2002

S/N:

0563E

Reg:

G-MDDE

TTAF:

4465

Location: United Kingdom

126 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Tel: +1 (949) 433 9673 E-mail: Jason.Karlin@ParagonAirways.com Maintained Part 135. Sold with fresh Phase 1-5 Inspections! Current on all maintenance. Impeccable records. Cared for by same operator and maintenance team under Part 135 since 2010. Only selling because replacement aircraft, a Citation Encore, has arrived. Over 5,500 hours remain on engine life-limited components for Part 91 Operations. Not Currently on Engine Programs. Hangared at SNA. Engines: Overhauled by Dallas Airmotive (service bulletins complied with). Avionics: Honeywell Primus 1000 Integrated Avionics Package with 3-Tube EFIS. Dual Mode S Transponders with ADS-B Out. Honeywell GNS-XLS FMS/GPS. Int: All new interior in 2016 with custom hand-stitched leather and gloss wood finish upgrades, continuously refreshed.

Tel: +44 (0)787 680 1006 E-mail: anthony.draper@me.com Beautifully refurbished MD500e. Completed in 2018 with custom designed paint and interior. Always hangared and well maintained. The aircraft has been valued at $1.45m, however we are accepting sensible offers. Airframe: Equipment Dual Controls. Bristol Wire-strike Kit (Upper and Lower). Passenger Flight Steps. Sliding Vent Windows (Front). Pop Vent Windows (Rear). Avionics: Aspen EFD1000H with traffic unlock. Garmin GTN750H GPS/nav/com. Garmin GTX345 ADS-B transponder. Garmin GTS800 traffic awareness system. Int: Beautiful Internal Farnborough Interiors Luxury Interior - Completed 2018

www.AVBUYER.com

P126-129.qxp 21/07/2021 12:28 Page 2

McDonnell Douglas 902 Explorer

DynamicPitch Ltd Price:

Please email

Year:

2002

S/N:

900-00103

Reg:

G-CIOS

TTAF:

2900

Location: United Kingdom

McDonnell Douglas 902 Explorer

DynamicPitch Ltd Price:

Please email

Year:

2007

S/N:

900-00121

Reg:

G-HMDX

TTAF:

3600

Location: United Kingdom

McDonnell Douglas 902 Explorer

DynamicPitch Ltd Price:

Please email

Year:

2000

S/N:

900-00074

Reg:

G-SASR

TTAF:

6621

Location: United Kingdom

Airbus/Eurocopter AS 365N-3

Nigel Watson Price:

Please call

Year:

2008

S/N:

6815

Reg:

M-LVIA

TTAF:

955

M A R K E Tel: +44 (0)794 359 1121 T Email: bobby@dynamicpitch.net P L A well specified MD902 Explorer helicopter in excellent condition. A PWC PW207E Engines. Category A, Single Pilot. IFR Certified. C NVIS Certified. EMS/Multirole Configuration. The aircaft can be specified, painted or modified to the new owners exact E

specification. A Spares package and ongoing maintenance/spares support also available.The MD902 Explorer posseses No Tail Rotor (NOTAR) Technology, an ultra smooth rotor system with plenty of ground clearance, spacious cabin, and powerful Pratt & Whitney engines. All resulting in a supremely capable and cost effective helicopter. The true definition of a multi-role helicopter, this MD902 Explorer is a worthy addition to your helicopter fleet

Tel: +44 (0)794 359 1121 Email: bobby@dynamicpitch.net This distinctive looking, later serial number MD902 Explorer helicopter is in excellent condition and ready to fly. The aircaft can be specified, painted or modified to the new owners exact specification. A Spares package and ongoing maintenance/spares support is also available. PWC PW207E Engines. Single Pilot, Category A IFR Certified. NVIS Certified. Utility / Air Medical Interior. The MD902 Explorer posseses No Tail Rotor (NOTAR) Technology, an ultra smooth rotor system with plenty of ground clearance, spacious cabin, and powerful Pratt & Whitney engines. All resulting in a supremely capable and cost effective helicopter. The true definition of a multi-role helicopter, this MD902 Explorer is a worthy addition to your helicopter fleet.

Tel: +44 (0)794 359 1121 Email: bobby@dynamicpitch.net A great example of an MD902 Explorer in excellent condition. Available to purchase now. The aircraft is presented in attractive British Racing Green adorned with a striking swirl of Super White, complimenting those classic Explorer lines.•PWC 206E Engines •Cat A, Single Pilot Day/Night VFR Certified• NVIS Certified • Utility / Air Medical Interior. The aircaft can be specified, painted or modified to the new owners exact specification. A Spares package and ongoing maintenance/spares support also available. The MD902 Explorer posseses No Tail Rotor (NOTAR) Technology, an ultra smooth rotor system with plenty of ground clearance, spacious cabin, and powerful Pratt & Whitney engines. Get in contact to discuss your requirements.

Tel: +44 (0)162 488 0135, +44 (0)776 544 4043 E-mail: emma@nigelwatson.im 5 passenger VIP Cabin, blue and silver paint. Has exclusively been for VIP operation. Immediately available to view. Full valuation report and equipment lists available to interested parties. Well maintained; airworthy & operational with no damage history; fresh annual 4/19. Fully enrolled on PBH and SBH since new. Eng #1 - 3240h; Eng #2 - 955. Proposals for refurbishments to paint and interiors available.

Location: France

Airbus/Eurocopter EC 145

Nigel Watson Price:

Please call

Year:

2009

S/N:

9242

Reg:

M-LUNA

TTAF:

1455

Location: France

www.AVBUYER.com

Tel: +44 (0)162 488 0135, +44 (0)776 544 4043 E-mail: emma@nigelwatson.im Only 1455TT, 7 passenger VIP Cabin, blue and silver paint. Has exclusively been for VIP operation. Available from November 2019. Full valuation report and equipment lists available to interested parties. Well maintained; airworthy & operational; fresh annual 9/20. Fully enrolled on PBH and SBH since new. Eng #1 - 1455h; Eng #2 - 1449h. Proposals for refurbishments to paint and interiors available www.nigelwatson.im/brokerage/ec145

AVBUYER MAGAZINE R Vol 25 Issue 8 2021 R

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P126-129.qxp 21/07/2021 12:28 Page 3

M A R K E T P L A C E

Star Speed

Airbus/Eurocopter EC 155B1

Price:

Please email

Year:

2008

S/N:

6807

Reg:

G-HBJT

TTAF:

1722

Location: United Kingdom

Airbus/Eurocopter EC 155B1

Sean Lee Price:

Make offer

Year:

1999

S/N:

5683

Reg:

N824AF

TTAF:

4,971

Location: USA & Canada

Airbus/Eurocopter EC 120B

Chris Summers Price:

Make offer

Year:

2004

S/N:

1380

Reg:

G-JBBB

TTAF:

2360

Location: United Kingdom

Airbus/Eurocopter AS 350B-2

Helicentre Liverpool Price:

Please call

Year:

1999

S/N:

3187

Reg:

G-OGUN

TTAF:

2905

Tel: +44 (0)127 685 9100 E-mail: lucy.sones@starspeed.co.uk 4404 landings. VIP 8 seat interior, hinged doors, floats, WX radar, air conditioning, CVR/FDR. No damage history. Airbus EBH Contract (without overhauls). Safran SBH Contract (without overhauls). Enrolled on Safran SBH Contract, unscheduled only. Annual Maintenance Inspection work ongoing. Aircraft to be sold with MGB Overhaul not completed. Equipment List. Hinged doors. Air conditioning. Emergency floatation. Cockpit/Cabin separation. 8 passenger seats (4 facing 4). SP/DP IFR. CVR/FDR. ELT Kannad 406. Collins Transponder. Collins ADF 4000. Collins DME 4000. Honeywell KR21 Marker. Honeywell Weather Radar RDR2000. Avidyne TAS620 TCAS. Trimble 2101 GPS. Collins 422A COM/NAV 8.33

Tel: +1 (754) 666 2997 E-mail: Seanethan@leeaviation.com Beautiful Helicopter was operated by the police so all maintenance was done!!! She's ready to fly nothing is wrong. One of the engines was recently overhauled only 15 hours! Call me won't last long 754666-2997. or what's app if your outside of the USA 305-733-0037. 12 year inspection and 5000 hrs ( 2012). Engines: TURBOMECA. Avionics: Garmin 500H EFIS -Synthetic Vision, L-3. Trilogy - Standby Horizon, Garmin 430 NAVCOMM - GPS, Garmin SL-40 - VHF, Garmin GTX-330 - Transponder, Garmin 350- Audio. Panel 3D, Guardian Avidyne- GPS Tracker, EX5000 Multi-Function Display. 406 MhZ KRA10A KCS-55A Ryan. ATS9900B, ELT Radar Altimeter, Compass System, TCAD. Int: Done in 2012. Ext: Paint done in 2012

Tel: +44 (0)787 985 4019 E-mail: chris@heliselling.com IMMACULATE!!! Best EC120 on the Market. Low Time, 2 Owners from New, Treasured Aircraft, Private Use only - No Damage History. Open to Offers. Brand New Full Bare Metal Respray February 2021 by Edmondson Aviation. Aston Martin Grey Paint with Black & Gold Accents. Completely Corrosion Free. Always Hangared, Detailed Monthly, Stunning Condition... Engines: Turbomeca Arrius 2F. Avionics: VEMD. Artificial Horizon. Direction Indicator. Mb Altimeter. 2 x Garmin GTR 225’s. Int: Mixed Grey Leather Interior. Matching Grey Carpets - Interior in Mint Condition throughout.

Tel: +44 (0)151 448 0388 E-mail: mtonks@helicentre.com A well appointed AS350B2 operated on AOC. 4 rear seat configuration with dark blue leather interior. Night light. Radalt. HSI. SFIM autopilot 2 axis. 2 x 8.33 nav/comm. ELT. Skymap IIIC. Dual wipers. Date of refurbishment 2016. Float hardpoints fitted

Location: United Kingdom

Bell 407

Christophe Durieux Price:

$1,790,000 No VAT

Year:

1997

S/N:

53145

Reg:

F-HMCO

TTAF:

1955

Location: France

128 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

Tel: +33 (0) 664 691 155 E-mail: Christophe.durieux@people-and-baby.com Private owner, one pilot, excellent condition, always hangared in Paris France. Under CAMO + PART145 Maintenance. Fresh 2000h Engine + Annual Inspection done March 2021. Floats, Air cond, Heater, Aux Fuel, Space Maker, Cargo Hook, Inlet Filter Garmin GTN750 + Traffic Alert GTS800, Radar Altimeter, USB ports. Flight Hours: 1955. NG Cycles: 2744. RIN Cycles: 6954. (Evolving Hours). Avionic: Audio Panel Garmin GMA 35. COM KY196A. Transponder KT70. Radar Altimeter KRA10A. Paint & Interior: Paint: Glitter Black + Gold lines. Interior: Grey seats + Linen Gray Trim Kit

www.AVBUYER.com

P126-129.qxp 21/07/2021 12:28 Page 4

Bombardier Learjet 36A

Leonard Price: Year: S/N:

M A R K E Tel: +1 (806) 662 5823 T Hudson Drilling Email: ronfernuik@hotmail.com P L USD $695,000 Learjet 36A, Long range capability, as configured 2,400 A nautical miles. Can be upgraded to 2,600 mile range. C 1977 Recent paint and interior, RVSM. E 36A-030

Reg:

N160GC

TTAF:

15,600

Would consider trade for KingAir 200/300 Price Reduced

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

BELL 212 (Five Available)

Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com

Leonard Hudson Drilling 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

Tel: +1 (404) 630 9355 Email: chrisfly123@yahoo.com

George K

Cessna Citation XLS+ Price:

$8,900,000

Year:

2017

S/N:

560-6236

Reg:

654PD

TTAF:

640

Location: USA

Aircraft Spare Parts

Wheels, Starters, Brakes, etc. Outright and Exchange

Beautiful Cessna Citation XLS+. Now Available For Sale! This aircraft has been maintained to the highest standards through Textron Aviation. This magnificent aircraft has always been stored in a hangar in the southern part of the USA and operated since purchased new by the same professional crew. This aircraft has ProParts, Pro-Tech, and also Power Advantage Plus Warranty Programs. Why pay a premium price for brand new aircraft when you can own this gorgeous Cessna Citation XLS+ with such low time! Avionics: Collins Pro Line 21 Avionics System. Dual Comm, Dual Nav, Dual DME, Dual Transponders. Dual Collins FMS-3000 (WAAS)

Par Avion Ltd

Cessna, Learjet, Hawker, Westwind, Falcon, Gulfstream, Global Express

FALCONS • HAWKERS • LEARS

Tire Inflation Cage, Hydraulic Wheel Dolly, Lav Cart Brake Bleed Kits, O2 & N2 Single Bottle Carts, Socket Kits Mobile A/C Cart, Oxygen Fill Adapter, Jack Adapters

www.paravionltd.com

Manufacturer of Select GSE & Speciality Tooling Preowned GSE also available

www.AlberthAviation.com www.AVBUYER.com

Buy * Sell * Trade

SALES • ACQUISITIONS • CONSULTING

832-934-0055 AVBUYER MAGAZINE R Vol 25 Issue 8 2021 R

129

P130 August.qxp 22/07/2021 12:28 Page 1

Aircraft For Sale • AIRCRAFT • HELICOPTERS

AIRCRAFT

PAGE

AIRBUS A318 Elite . . . . . 5 A319 VIP . . . . . . 5

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 1, 7, 9, 11, 132 BBJ3 . . . . . . . . . 10 737 . . . . . . . . . . . 126 787-8 VIP . . . . . . 7 787-9 . . . . . . . . . 10, 11, 132

BOMBARDIER Global 5000 . . . . 10, 61, 132 Global 6000 . . . . 5, 6, 10, 11, 18, 79, . . . . . . . . . . . . . . . 132 Global 6500. . . . 5 Global Express . 5 Global Express XRS. 5, 11, 18

Challenger 300 . . . . . . . . . . . 85 601-3AER. . . . . . 10 601 3R . . . . . . . . 81 605 . . . . . . . . . . . 10, 11, 14, 17, 132

Learjet 31A . . . . . . . . . . . 63, 81 36A . . . . . . . . . . . 129 40XR . . . . . . . . . . 17 45XR . . . . . . . . . . 11, 27, 31, 63 60 . . . . . . . . . . . . 11, 132

CESSNA Citation III . . . . . . . . . . . . 63, 81 VII . . . . . . . . . . . . 57 XLS+ . . . . . . . . . . . 97, 129

AIRCRAFT

PAGE

AIRCRAFT

CJ2+ . . . . . . . . . . 123 CJ3. . . . . . . . . . . . 17 CJ3+ . . . . . . . . . . 17, 57 CJ4. . . . . . . . . . . . 14 Bravo . . . . . . . . . 126 Excel . . . . . . . . . . 14 Sovereign. . . . . . 35, 85, 132 Ultra . . . . . . . . . . . 14 172S Skyhawk. . 57 182S Skylane . . 57 500 . . . . . . . . . . . . 81 510-Mustang . . . 51 550 . . . . . . . . . . . . 51

PAGE

GULFSTREAM III . . . . . . . . . . . . . 79 IV SP . . . . . . . . . . 61, 97, 121 V. . . . . . . . . . . . . . 69, 97 150 . . . . . . . . . . . 61, 81 200 . . . . . . . . . . . 11, 61, 79, 132 280 . . . . . . . . . . . 35, 61, 131 450 . . . . . . . . . . . 61, 69, 97 500 . . . . . . . . . . . 124 550 . . . . . . . . . . . 5, 7, 11, 19, 79, 126 650 . . . . . . . . . . . 11, 19, 69, 132 650ER. . . . . . . . . 19

HAWKER BEECHCRAFT

CIRRUS

King Air

SR20G2 GTS. . . 57

DASSAULT FALCON 7X . . . . . . . . . . . . 2, 3, 5, 6, 11, 61, 85, . . . . . . . . . . . . . . . 132 8 X . . . . . . . . . . . . 3, 61 50 . . . . . . . . . . . . 81 50EX . . . . . . . . . . 11, 55, 132 900EX . . . . . . . . 11, 132 900EX EASy . . . 2, 125 900LX . . . . . . . . . 18, 132 2000 . . . . . . . . . . 61, 69, 85 2000EX. . . . . . . . 131

B200 . . . . . . . . . . 97 C90GTi . . . . . . . . 97 C90GTx. . . . . . . . 122 F90-1 . . . . . . . . . 31

Hawker 400A . . . . . . . . . . 35, 81 800A . . . . . . . . . . 81 800XP . . . . . . . . . 17, 97 900XP . . . . . . . . . 27, 97 4000 . . . . . . . . . . 31, 37

PAGE

PIPER Cheyenne IIIA . . 81

SOCATA TBM 700B . . . . . 57 TBM 850. . . . . . . 35 TBM 930. . . . . . . 35 TBM 940. . . . . . . 35

HELICOPTERS AIRBUS/ EUROCOPTER AS 350B-2 . . . . . 128 AS 365N-3 . . . . . 127 EC 120B . . . . . . . 27, 97, 128 EC 130B4. . . . . . 27 EC 135T2 . . . . . . 97 EC 155 B1 . . . . . 61, 128

AGUSTAWESTLAND AW109E Power . 14 AW109S Grand. .14 AW109SP. . . . . . 10

NEXTANT 400XT . . . . . . . . . 11, 132 400XTi . . . . . . . . 27

EMBRAER Legacy 500 . . . . 37 Legacy 600 . . . . 14 Legacy 650 . . . . 11 Lineage 1000E . 131 Phenom 100EV . 17 Phenom 300 . . . 35, 97

AIRCRAFT

PIAGGO P180 Avanti . . . 51

PILATUS PC-12/47E . . . . . 11 PC-24 . . . . . . . . . 41, 69

BELL 407 . . . . . . . . . . . 128 412EP . . . . . . . . . 97 412EMS . . . . . . . 129 505 . . . . . . . . . . . 120

MCDONNELL DOUGLAS 500E . . . . . . . . . . 126 902 Exployer . . 127

Advertiser’s Index 1st Source Bank ................................................. 43 Action Aviation..................................................... 69 AeroBuyNow ........................................................ 13 Aircraft Blue Book ............................................. 43 Airline Transport Professional ........................ 101 Aradian Aviation .................................................. 97 Avpro ..................................................................... 61 Central Business Jets ..................................... 131 Clip Aviation ...................................................... 120 Concorde Battery .............................................. 93 Dubai Airshow .................................................. 113 Dassault Falcon Pre-Owned ........................ 2 - 3 Duncan Aviation ................................................. 63 Eagle Aviation....................................................... 57 ElliottJets .............................................................. 35 Engine Assurance Program .............................. 23

Falcon Aviation ................................................. 121 Freestream Aircraft ........................................ 6 - 7 General Aviation Services................................. 85 GE OnPoint ......................................................... 21 Global Jet Capital .............................................. 47 Global Jet Monaco ................................................ 5 Gogo Business Aviation .................................... 67 Hatt & Associates ............................................... 31 Jetbrokers ............................................................ 81 Jetcraft Corporation ......................... 10 - 11, 132 JetHQ .................................................................... 27 Jet Management Group ..................................... 41 JETNET ................................................................. 84 Jet Values .............................................................. 93 Leading Edge Aviation Solutions .................... 79 Lone Mountain Aircraft Sales .......................... 51

Marbale Universal ............................................ 124 Mesotis Jets ...................................................... 122 NBAA .................................................................. 109 OGARAJETS ....................................................... 17 Par Avion ............................................................... 55 Pratt & Witney...................................................... 95 Rosen Visor ....................................................... 101 Southern Cross ................................................. 1, 9 Sparfell & Partners ..................................... 14 - 15 Stevens Aerospace ......................................... 105 Sunset Aviation Assurance .............................. 74 TAE ........................................................................ 89 The Jet Business......................................... 18 - 19 The Private Jet Company................................... 37 Vienna Jets ........................................................ 123

PROUD MEMBERS OF

British Business & General Aviation Assoc. • British Helicopter Assoc.• European Business Aviation Assoc. • International Aircraft Dealers Assoc. • National Aircraft Finance Assoc. • National Business Aviation Assoc.

AvBuyer (USPS 014-911), August 2021, Vol 25 Issue No 8, is published monthly by AvBuyer Ltd, 1210 West 11th Street, Wichita, KS 67203-3517 and has a targeted circulation to decision makers within business and corporate aviation throughout the world. It is also available on Annual Subscription @ UK £40 and USA $65. POSTMASTER: Send address changes to: AvBuyer Magazine 1210 West 11th Street, Wichita, KS 67203-3517. Postage is paid at Wichita, KS and additional mailing offices © Copyright of AvBuyer Ltd. Every effort is made to ensure the accuracy of material published in AvBuyer Magazine. However, the publishers cannot accept responsibility for claims made by manufacturers, advertisers or contributors. The views expressed are not necessarily those of the Editor or the publishers. Although all reasonable care is taken of all material, photographs, CD & DVDs submitted, the publishers cannot accept any responsibility for damage or loss. All rights reserved. No part of AvBuyer Magazine - Advertising, Design or Editorial - may be reproduced, stored in a retrieval system, or transmitted in any other form, or by any other means, electronic, mechanical, photographic, recording or otherwise, without prior written permission of the publishers.

130 Vol 25 Issue 8 2021 AVBUYER MAGAZINE

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Germany Office

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Minneapolis / St. Paul TEL: (952) 894-8559

E-MAIL: julian@cbjets.com

FAX: (952) 894-8569 E-MAIL: INFO@CBJETS.COM

D L SO 2012 Gulfstream G450 SN4263

2014 Gulfstream G280 SN2039

Gulfstream Maintained – 8C Heavy Check 07/20, RRCC, HAPP, ASC 912C – PlaneView software update, ASC 037B – Synthetic Vision System 2.0, Near Perfect Paint & Interior, GOGO Wi-Fi, HD710 High Speed Data, 8 Monitors with DVD & Blu Ray

Single owner since new, Enrolled in all Programs (Honeywell MSP Gold & Gulfstream Planeparts), 1744 Hours, 568 Landings, 4 Year Heavy Check completed at Gulfstream Appleton, FANS/CPDLC, ADS-B, WAAS/LPV, Well maintained, 9 place interior

D L SO Embraer Lineage 1000E SN190-00611

2004 Falcon 900C SN199

Only 1324 Hours and 562 Cycles Since New; Preferred 19 Passenger Interior, World Wide Ready, Transferrable Warranty and Maintenance Programs

Primus 2000XP Avionics Suite, Triple IRS, Aircell ATG 4000, Honeywell SATCOM, FANS-1A/CPDLC, WAAS/LPV, ADS-B Out

D L SO 2003 Falcon 2000EX SN14

2005 Lear 60SE SN282

ProLine 21 Avionics Upgrade, All new soft goods throughout with Led wash lights, all plating is new. The interior of all drawers were redone to match new colors throughout the aircraft. Synthetic Vision System, Electronic Charts, FANS 1/A, CPDLC, ADS-B Out V2, WAAS/LPV, Gogo Advance L5 WIFI, ESP Gold, MSP Gold, CASP, 10 PAX Configuration (Preferred)

Artex 406 ELT w/ Nav Interface, WX 1000E Stormscope, Lightning Detection System, Ice Detection System, Extended baggage space, WAAS/LPV, Collins ADS-B Out

D L SO Citation X SN281 Honeywell Primus Elite DU-875 LCD Displays, Engines on Rolls Royce Corporate Care, Winglets, WAAS (Wide Area Augmentation Service), ADS-B Out, XM Weather, Airshow 4000, AGT-4000 GoGo with Talk & Text, Aircell Axxess II Iridium Satcom System

www.cbjets.com

The smoothest connection to your next aircraft.

2015 DASSAULT FALCON 900LX S/N 285 • 2,163 Hours; 857 Cycles • Engines & APU Enrolled on JSSI 100% • Fresh C Check

A passionate team of aviation experts, our strategic approach and action-oriented thinking have made us the global leader for aircraft sales and ownership services. With our worldwide network and inventory, industry connections and regional presence, we are the difference between getting an aircraft… and getting your aircraft.

2014 DASSAULT FALCON 900LX S/N 279 • 887 Hours; 892 Landings • Engines & APU on MSPG • HUD, EVS, SVS

2015 BOEING BBJ S/N 61040

1999 DASSAULT FALCON 900EX S/N 0038

• 809 Hours; 205 Landings • Split Scimitar Winglets • 8 Auxiliary Fuel Tanks

• 6,174 Hours; 3,607 Landings • Engines & APU Enrolled on MSP • SwiftBroadband Internet

2017 BOMBARDIER GLOBAL 6000 S/N 9764

2015 BOEING 787-9 2014 BOEING BBJ 2011 CHALLENGER 605 2007 CITATION SOVEREIGN 2012 GLOBAL 5000 2012 GLOBAL 6000 2017 GLOBAL 6000 1997 FALCON 900EX

2000 FALCON 900EX 2001 FALCON 50EX 2016 FALCON 7X 1993 LEARJET 60 2006 LEARJET 45XR 2014 GULFSTREAM G650 2002 GULFSTREAM G200 2012 NEXTANT 400XT

2013 BOMBARDIER GLOBAL 5000 S/N 9504 • 2,133 Hours; 577 Landings • One Owner Since New •N ow Available for Viewings in San Luis Obispo, USA

ALSO AVAILABLE

I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I

• 2,876 Hours; 704 Landings • KA Band Internet • Deliver Fresh 15 Month Inspection

ALSO AVAI L ABL E

I N FO @ JETC RAF T. CO M

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+ 1 9 1 9 9 4 1 8 4 00

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AvBuyer Magazine August 2021

Articles inside

OEM News and Industry Appointments

How to Fly Incognito in the USA

Avionics 101: Breaking Open Avionics ’ Complexity

How to Future-Proof Your Avionics

Showcases

How to Optimize Human Performance on the Flight Deck

Right-Sizing BizJets: Planning for Change

Helicopter Ownership: What are the Operating Costs?

Privacy Considerations for Aircraft Owners (Part 2

Silver Linings for a Post-COVID Aerospace Industry

The First-Time Buyers ’ Guide to Jet Cards

Interview With Don Spieth, General Aviation Services

What’ s the Latest on the King Air Market?

How Not to Save Money Ahead of a BizJet Sale

How to Get a Great Private Flight Experience

How to Minimize BizJet Residual Value Anxiety