AvBuyer Magazine February 2020

FC 2020 February.qxp_FC December 06 21/01/2020 12:18 Page 2

Volume 24 Issue 2 2020

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ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION

After 20 Years in the Industry and Over 90% Retention Rate, Aircraft Finance Corporation are Leaders in Financing New and Pre-owned Aircraft

THIS MONTH Comparison: Embraer Praetor 600 vs Bombardier Challenger 350

Tips for Negotiating a Good Aircraft Transaction www.AVBUYER.com

F sp lip ec ov ia er l m to se ain se ct te e io n ou n an r ce

How to Choose the Right Aircraft Finance Lender

Project1_Layout 1 28/01/2020 12:17 Page 1

IT DOESN’T SHOW ITS AGE. ONLY ITS VALUE.

FALCON 7X • • • • • •

Mint classical 14 passenger configuration without crew-rest EASA part CAT and 2020 mandates compliant Engines on ESP Platinum, APU on MSP gold EASyII: LPV, ADS-B out, SVS, CPDLC ATN-B1, CPDLC FANS 1A+ MSC 7120 Satcom with Wi-Fi in cabin HUD, EVS, dual EFB’s , External camera, Aft vacuum toilets

FALCON 7X • • • • • • •

2012 – S/N 163 3,814 hrs. / 1,527 cycles

Classical 14 seats -12 pax- BMW configuration without crew-rest EASA part CAT and 2020 mandates compliant Engines on ESP Gold, APU on MSP gold Under falconCare EASyII: ADS-B out, SVS, CPDLC ATN-B1, CPDLC FANS 1A+ MSC 7120 Satcom with Wi-Fi in cabin 3FMS; 3IRS, 3VHF, HUD, dual EFB’s

FALCON 2000LXS • • • • • • •

2016 – S/N 266 1,224 hrs. / 455 cycles

2015 – S/N 288 2,474 hrs. / 1,593 cycles

8 passengers double club 4 configuration EASA part CAT compliant, 2020 mandates compliant EASyII: base line, LPV, ADS-B Out, SVS, CPDLC ATN B1 & FANS 1A+ 3 VHF, 3IRS, 3FMS MCS 7120 Satcom with Wifi in cabin Engines on ESP Platinum, APU on MSP Gold Under FalconCare

VISIT DASSAULTFALCON.COM/PREOWNED I FRANCE: +33 1 47 11 60 71 I USA: +1 201 541 4556

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When buying a pre-owned Falcon from Dassault, you’re not only investing in a jet that’s renowned for versatility, flexibility, and lasting value. You’re also making the most of your investment by going to the source. The people whose knowledge and experience will keep your Falcon flying for years to come.

FALCON 2000LXS • • • • • • • •

10 passengers configuration EASA part CAT compliant, 2020 mandates compliant EASy II: base line, ADS-B Out, LPV, SVS, CPDLC ATN B1 & FANS 1A+ 2IRS, 2FMS, 3VHF, 2EFB MCS 7120 Satcom with Wifi in cabin HD vertical Fin Camera Engines on ESP Gold, APU on MSP Gold Eligible to FalconCare

FALCON 2000LXS • • • • • • •

2016 – S/N 320 1,511 hrs. / 959 cycles

10 passengers configuration EASA part CAT compliant, 2020 mandates compliant EASy II: base line, ADS-B Out, LPV, SVS, CPDLC ATN-B1 & FANS 1/A+ 2 IRS, 2 FMS, 3 VHF, 2 EFB, RAAS MCS 7120 Satcom with Wifi in cabin Engine on ESP Platinum, APU on MSP Gold Eligible to Falconcare

FALCON 2000LX • • • • • • • •

2015 – S/N 302 827 hrs. / 564 cycles

2008 – S/N 140 3,598 hrs. / 2,427 cycles

8 passengers configuration with settee on the credenza EASA par CAT compliant, 2020 mandates compliant EASy II: base line, LPV, ADS-B Out, CPDLC ATN B1 & FANS 1A+ 2 IRS, 2FMS, 2VHF, 1 RAD ALT Iridium RT 300 Satcom EMTEQ LED direct& indirect lighting Engines on ESP Gold, APU on MSP 2C check due march 2020

Editor Welcome Feb20.qxp_JMesingerNov06 21/01/2020 15:58 Page 1

Guest Editor’s VIEWPOINT Mark Wilken

Looking Beyond the 2020 ADS-B Mandate ow that 2020 is here, the ADS-B mandate is in effect for controlled airspace in the US. Originally announced in 2010 by the FAA, ADS-B was created to increase safety by improving situational awareness, while reducing separation minima to create a more efficient aircraft traffic flow.

While the FAA has estimated that over 100,000 aircraft were affected by this mandate, and most have been equipped with a solution, many aircraft continue to face avionics parts obsolescence issues.

N

Avionics Obsolescence: Why Does it Happen?

Avionics and engines can limit the life of an aircraft due to the financial cost of sustaining them. Many of the components that make up an avionics system are initially developed from technologies driven by consumer electronics.

As consumer electronics evolve to become more reliable and have more features, avionics systems are also constantly evolving, which can render certain components obsolete. A good example is the popularity of cathode ray tube (CRT) displays that were installed in nearly every airplane produced from the 1980s through the mid-2000s.

With the introduction of flat panel displays, factories that once produced CRTs faced a significantly diminished demand, mostly driven by consumer electronics. This demand shift not only rendered the technology obsolete in the consumer electronics market, but in the aviation market too.

Now, with these displays manufactured in very limited quantities (lessening availability and increasing their cost), an aircraft operator’s only options to replace CRT displays is to find a suitable used replacement, or to upgrade their system.

What are the Latest Avionics Upgrades?

While most newly built aircraft are equipped with some of the latest avionics packages at the time they’re built, they can soon become outdated. Fortunately, there are many excellent retrofit solutions for thousands of popular aircraft today.

These range from updates to a current system to complete retrofits that include a new autopilot, new transponders, new flight management systems and new displays. Among the leading solutions are the following…

Garmin G1000 NXi: For thousands of airplanes, including the Beechcraft King Air C90, B200, 300, 350, Embraer Phenom 100 (and soon the 300), Cessna Citation Mustang, and Daher TBM 850 and 900, the Garmin 4 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

G1000 NXi is the most modern solution available.

The G1000 NXi is available both for qualifying aircraft that do not have a G1000 system and as an upgrade to legacy Garmin G1000 systems. It offers many features over the standard G1000 such as SurfaceWatch Runway Monitoring, optional cockpit connectivity, MFD display (like in the HSI on the PFD), improved map performance, and many more upgrades.

Garmin G5000: This retrofit is available for the Beechjet 400A/Hawker 400XP and the Citation Excel/XLS. The G5000 integrates a new autopilot, charts, WAAS/LPV, touchscreen controllers and many more features, including optional synthetic vision, turbulence detection.

Collins Pro Line 21 Modernization: An upgrade to a large segment of aircraft currently equipped with Pro Line 21 avionics systems, this package includes qualifying Hawker models, Beechcraft King Airs and Premiers. It allows for synthetic vision, electronic charts, graphical weather and WAAS/LPV.

What’s the Future of Avionics Upgrades?

Avionics manufacturers are constantly looking at ways to improve flight. Whether it’s enhancing safety, improving efficiency, decreasing pilot workload, or a better passenger experience, avionics will always evolve to create a better way to fly.

A case in point is Garmin’s revolutionary new Autoland feature in the Piper M600 SLS, which automatically finds an optimal destination and successfully lands the airplane when engaged.

We can be sure that the next decade will see more availability of safety and performance upgrades including Auto-Throttles, CPDLC (Controller Pilot Datalink Communications), LPV Approaches, Taxi and Runway Awareness, Flight Recorders, Data Tracking and Trend Monitoring.

So, as operators inevitably face avionics parts obsolescence issues as their installed equipment ages, there is much hope that truly innovative solutions for retrofit will continue to emerge in the marketplace to alleviate the problem.

More information from www.elliottaviation.com

Mark Wilken joined Elliott Aviation in 1989 as an avionics bench technician. He was promoted to avionics manager before joining the sales team in 2003. In 2014 he was named vice president, Avionics Programs and Operational Logistics. In his role, Mark has led many highly successful programs such as the King Air Garmin G1000 avionics retrofit program, G5000 avionics retrofit program and the GTX-3000 ADS-B solution. www.AVBUYER.com

GLOBAL JET PORTFOLIO

DASSAULT FALCON 7X 2009 / SN 061

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DASSAULT FALCON 7X 2009 / SN 061

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AIRCRAFT SALES & ACQUISITIONS

DASSAULT FALCON 7X 2011 / SN 118

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DASSAULT FALCON 7X 2014 / SN 251

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DASSAULT FALCON 900DX EASY 2008 / SN 619

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CESSNA CITATION XLS 2007 / SN 560-5753

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P013.qxp_Empyrean 23/01/2020 15:01 Page 1

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Steve Champness joins AvBuyer & GA Buyer as Publisher USA & Canada Jan. 15th, 2020 - Aviation industry veteran Steve Champness has been named Publisher of AvBuyer and GA Buyer for North America.

"We are excited to bring Steve on board as we continue to advance our advertising, editorial and content partnerships," said John Brennan, Owner of AvBuyer. "He brings many years of industry knowledge and experience that will help our members and customers introduce their products and services to the marketplace.”

A native of Atlanta, Georgia, Steve brings more than 35 years of aviation publishing experience to AvBuyer and GA Buyer. As Associate Publisher of Trade-A-Plane Magazine he helped numerous companies increase their sales, customizing advertising programs to their needs. He was also an assistant flight engineer flying in US Navy P-3 Orion aircraft. A long-time private aircraft owner, Steve is knowledgeable and enthusiastic about all-things aviation related.

“I am very pleased to work with the great staff at AvBuyer and GA Buyer publications,” Steve commented. “Reaching highly qualified buyers Worldwide instead of in just one Continent for the same cost just makes good business sense and reflects the modern aviation marketplace. I look forward to seeing many aviation friends again in this role.”

www.AVBUYER.com

Steve Champness Publisher USA/Canada AvBuyer, GA Buyer magazine.

Office: 770-769-5872 Cell: 770 856 6050 Steve@avbuyer.com

AVBUYER MAGAZINE Vol 24 Issue 2 2020

13

Contents Layout FEB20.qxp 22/01/2020 16:10 Page 1

Vol.24 Issue 2

Contents

2020

Guest Editor - Mark Wilken, Elliott Aviation

4 20 45

50

Market Indicators

Trends and observations from the leading analysts…

Market Insights

What Does the Market Hold in 2020?

(Lee Thomas, Eagle Aviation)

Buying & Selling Aircraft

Buying a Jet? Understanding the Advert Abbreviations (Part 3)

60

Three Common Mistakes About the Letter of Intent

64

Tips for Negotiating a Good Aircraft Transaction

68

How to Match a Helicopter to Mission Need

74 78 82 90 94 98

Ownership

What Does it Cost to Operate an Ultra-Long-Range Jet?

Finance

How to Choose the Right Aircraft Finance Lender

Jet Comparision

Embraer Praetor 600 vs Bombardier Challenger 350

Aircraft Price Guide Medium Jet Values

Aircraft Specifications

Miedium Jet Performance & Specifications Guide

Avionics

What Should you Know About Aircraft Tracking Systems?

Community News

106

OEM News, Industry Appointments & Upcoming Events

112

Products & Services

115 119 121 122

Showcases Marketplace Advertisers Index Aircraft for Sale Index

ACTIONABLE INTELLIGENCE FOR MAINTENANCE

INCLUDING...

How to Understand Maintenance Regimes What’s the Best Way to Track Aircraft Maintenance?

Engine Maintenance Programs: Are They Really Worth It?

Read our Aircraft Maintenance Special Issue starting from the back cover of this edition

MAINTENANCE SPECIAL

Next Month

• Cockpit Avionics Focus Issue • Jets Comparison: Pilatus PC-24 • What are the Best Value For Money Aircraft Upgrades in 2020?

14 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

EDITORIAL Commissioning Editor Matthew Harris +44 (0)20 8939 7722 editorial@avbuyer.com Editorial Contributor (USA Office) Dave Higdon dave@avbuyer.com Consulting Editor Sean O’Farrell +44 (0)20 8255 4000 sean@avbuyer.com ADVERTISING Steve Champness - Publisher Americas 770 769 6872 Steve@avbuyer.com Lee McLoughlin - Account Director US Aircraft & Services Sales Freephone from USA: +1- 855 425 7638 lee@avbuyer.com Matt Chappell - Account Manager US & Canada Aircraft & Services Sales Freephone from USA: +1- 855 425 7638 MattC@avbuyer.com Lise Margin - Account Manager US Aircraft Sales +1- 703 818 1024 lise@avbuyer.com Maria Brabec - Account Manager EMEA & APAC Aircraft & Services Sales +420 604 224 828 maria@avbuyer.com UK Head Office +44 (0)208 549 9508 STUDIO/PRODUCTION Helen Cavalli / Mark Williams +44 (0)20 8939 7726 helen@avbuyer.com mark@avbuyer.com CIRCULATION Sue Brennan +44 (0)20 8255 4000 Freephone from USA: +1- 855 425 7638 sue@avbuyer.com AVBUYER.COM Jayne Jackson jayne@avbuyer.com Emma Davey emma@avbuyer.com 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

Martin Ormon President, AFC

Stop dreaming and start financing.

Aircraft Finance Corporation finances more pre-owned jets and turboprops than anyone, consistently beating the “big banks” with our rate and terms. AFC offers our clients:

• 20-Year Terms from 3.99% • Up to 85% LTV on Both New and Pre-owned Aircraft • 100% Financing of Avionics Upgrades

AIRCRAFT FINANCE CORPORATION 800 - 434 - 4185 | 949- 698 -0085 www.AircraftBanker.com | info@aircraftbanker.com

Avpro February.qxp_Layout 1 20/01/2020 11:10 Page 1

GLOBAL XRS

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G U L F S T R E A M G 550

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G U L F S T R E A M G 450

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GULFSTREAM G200 SN 66

GULFSTREAM V SN 530

C H A L L E N G E R 350

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Avpro February.qxp_Layout 1 20/01/2020 11:10 Page 2

C H A L L E N G E R 300

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C H A L L E N G E R 604

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FALCON 8X

FALCON 7X

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F A L C O N 50 E X

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Avpro February.qxp_Layout 1 20/01/2020 11:10 Page 3

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MARKET INDICATORS

AVBUYER.com

Business Aviation Market Overview What are the latest trends and observations in the business aircraft market?

Rolland Vincent, editor, Business Aviation Market Overview, provides snapshots and pointers for those weighing up a purchase decision in 2020… ith the Northern winter and Southern wildfires bringing reminders to us all that there are bigger forces at play, many active and prospective buyers of business aircraft are undoubtedly anxious for snow- and smoke-free skies ahead. Clouding their horizons are a variety of fluctuating indicators that demand their attention, the key elements of which are outlined in the following pages.

These indicators highlight macroeconomic, geo-political, and environmental topics, as well as OEM industry, market inventory, flight operations, aircraft maintenance and aircraft valuation conditions. Collectively and individually, we believe that these remain among the most important variables to inform decision-making in the business aircraft marketplace.

As always, we recommend that serious buyers engage the services of a professional aircraft broker/dealer, who is ideally placed to navigate what can be the turbulent skies of a business aircraft transaction.

W

Early Indicators to Watch in the New Year

In early 2020, what are some of the indicators we are watching more closely than others, each of which has important implications for prospective buyers?

20 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

• •

•

•

• •

The US GDP growth rate in 2019 is estimated at ~2.3%; most economic forecasters are expecting US growth to slip below 2% in 2020 (in line with its longer-term potential).

GDP growth in the Euro area was an estimated 1.2%, continuing a sluggish trend that reflects a slowdown in the industrial heartlands of Germany and France. In December 2019, the European Central Bank forecasted GDP would increase by just 1.1% in 2020.

Flight shaming and environmental topics have become more prominent, while industry players strive to stimulate demand for, and the supply of, sustainable aviation fuels (SAF).

A dichotomy has emerged where OEMs have been relatively successful writing orders and delivering new business jets, against a backdrop of reduced pre-owned transactions and slowly increasing inventory for sale.

Hyper-competition continues for new business jet orders, especially at the top of the market, keeping a lid on price inflation and (ultimately) aircraft residual values.

Utilization of the business jet fleet continues to be relatively flat sequentially by most measures, despite underlying fleet growth as new deliveries outpace retirements and removals from service. page 24



www.AVBUYER.com

Aircraft we built. Expertise you trust.

WE SELL MORE PRE-OWNED THAN ANYONE. Contact a Textron Aviation representative to learn more.

U.S. + 1 . 8 4 4 . 4 4 .T X TAV

|

INTERNATIONAL + 1 . 3 1 6 . 5 1 7. 8 2 7 0

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T X TAV. C O M / P R E OW N E D

© 2019 Textron Aviation Inc. All rights reserved.

CAC2104_We Sell More Pre-Owned_AvBuyer_8.0625x10.625.indd 1

4/11/19 1:07 PM

Client: Textron Aviation Ad Title: We Sell More Pre-Owned Publication: AvBuyer Trim: 8.0625” x 10.625” Bleed: 8.19” x 10.748”

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MARKET INDICATORS

•

•

•

•

Thousands of business aircraft remain non-compliant with ADS-B Out rules that came into effect in the US beginning on January 1, 2020, creating the potential for a wave of retirements of older aircraft that have reached the end of their economic lives.

With some exceptions, OEMs are transitioning from an unprecedented era of heavy product development investment towards a period where derivative models are likely to become more prominent.

The potential for industry consolidation is accelerating, which we believe will result in fewer production models and the potential for fewer OEMs in the months and years to come.

Derivative model announcements and out-of-production status (OOPS) shifts can have particularly important impacts on the valuations of older aircraft that are best understood with the help of aircraft transaction specialists.

Pre-Owned Market Update

Approximately 10% of the business jet fleet was listed as for sale on the JETNET database (~2,200 aircraft) at the time of writing. That’s up from a low of about 9% that was reached as the market peaked 14-18 months ago.

Turboprop availability is hovering at about 7% of the fleet (~1,000 aircraft), although a remarkable 60% of aircraft for sale were initially delivered more than 20 years ago (the corresponding data for business jets was ~44%, as of this writing).

This is certainly not to say that these aircraft have come to the end of their economic and useful lives. In fact, a pulsing of the JETNET database reveals that about half of business jets are still in operation 42 years after initial delivery. The same proportion of turboprops are ~50 years old.

What’s impressive is how well the industry players – the owners and operators, flight crews and maintenance technicians, MRO shops, suppliers of parts, systems and services, and brokers/dealers – have remained engaged in the market. This despite the costs and hassles of keeping aging aircraft in the skies.

Market Preferences

JETNET iQ’s recently completed Q4 2019 survey of more than 500 business aircraft owners and operators in 61 countries revealed numerous insights, including aircraft brand/model purchase preferences, intentions, timing and likelihood.

24 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

AVBUYER.com

Beyond the pre-owned models that were highlighted to be of most interest to buyers throughout 2019 (specifically, the Phenom 300, Citation Model 560XL, Falcon 2000, Gulfstream G550, Beech King Air 200/250/350 and Pilatus PC-12), owners and operators have clearly become very comfortable operating aircraft that may no longer have that “new aircraft smell”.

This is particularly the case in North America (US and Canada), where 80% of decided respondents indicated they do not agree with the statement that they fly new aircraft for up to five years and then replace them.

Based on unit volumes in 2019, the ratio of pre-owned to new business jet transactions was about 3-to-1, one of the main reasons we believe that it is vitally important to monitor the activity and velocity of both the used and new aircraft markets.

This is particularly the case when we consider pre-owned transactions tend to move more quickly (on average) and are therefore more likely to reflect current market conditions… at least to most.

OEMs are certainly in the best position to monitor the pulse of the market as regards new aircraft orders and cancellations, but few monitor the market outside their competitive segments, and fewer still communicate net order details in a systematic way in their various investor and informational reports.

All of this should highlight that reading and absorbing the many important details on the following pages is smart, due diligence as you seek to make the most informed decision possible. Despite the number of zeroes involved (and maybe because of it), that next aircraft promises to dramatically improve your access to personal and professional opportunities - from A to Z and back again! page 28 MI www.navigating360.com



With 35+ years in the aviation industry, Rolland Vincent, president, Rolland Vincent Associates (RVA) has served as a trusted consultant at Textron, Bombardier and ICAO in various roles in strategy, marketing, business development, aviation economics and aviation statistics. Identifying a need for enhanced insights into the state of the business aviation marketplace, Rolland Vincent Associates partnered with JETNET in 2010 to create JETNET iQ. Mr Vincent is chair of the Transportation Research Board’s Standing Committee on Light Commercial and General Aviation, and is president, RVA, a consultancy focused on aviation market research, strategy, and forecasting. Contact him via rvincent@rollandvincent.com

www.AVBUYER.com

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MarketIndicators FEB20.qxp_Layout 1 22/01/2020 14:18 Page 3

MARKET INDICATORS

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Flight Activity - North America Year-over-Year (YoY), North American flight activity for December 2019 vs. December 2018, indicates an increase of 6.9%, according to TRAQPak. December’s flight activity also posted an unexpected Monthover-Month increase finishing 1.3% up on November 2019…

Comparing YoY results, the operational categories were all positive for the period.

Fractional activity posted the largest increase while Part 135 activity also enjoyed a sizeable increase compared to December 2018.

The aircraft categories were also positive for the month, with Mid-size Jets posting the largest yearly increase. Light Jets and Large Jets also saw solid gains YoY.

DECEMBER 2019 vs DECEMBER 2018 North America Flight Activity

PART 91

FRACTIONAL

ALL

TURBOPROP

4.7%

4.5%

-5.6%

4.3%

LIGHT JET

9.2%

3.5%

12.0%

7.6%

MID-SIZE JET

2.7%

10.3%

16.8%

8.9%

LARGE CABIN JET

5.6%

12.5%

-5.3%

7.2%

ALL

5.5%

7.1%

11.5%

6.9%

DECEMBER 2019 vs NOVEMBER 2019 North America Flight Activity

PART 91

PART 135

FRACTIONAL

ALL

TURBOPROP

-4.3%

0.2%

-10.9%

-2.6%

LIGHT JET

-0.7%

1.6%

8.1%

1.2%

MID-SIZE JET

-1.9%

10.1%

3.5%

3.6%

LARGE CABIN JET

0.6%

10.5%

13.1%

5.4%

ALL

-2.0%

4.8%

4.3%

1.3%

Month-over-Month

Activity has historically declined 7%, on average, from November to December. In 2019, however, results by operational category were mostly positive. Part 135 flight activity posted the largest monthly increase, closely followed by Fractional activity. However, Part 91 activity slid.

The aircraft categories were mostly positive for the month, too, with Large Jets posting the largest increase. Turboprops recorded the only monthly decline in December.

PART 135

January Forecast

Looking ahead, TRAQPak estimates there will be a 5.8% increase in overall

YoY flight activity in January 2020.

MI www.argus.aero

Flight Activity – Europe December saw some growth in Business Aviation activity in Europe. Flights were up by 2.9% YoY. Most of the growth came in the business jet sector, up by 4.5%. For the full year, total activity was down 1.6% compared to 2018.

Flight activity out of the UK slipped 3% in December, but most of the other larger markets were up, notably Italy and Austria. Spain had the strongest growth in 2019, while Germany declined the most. For the full year, the UK and Germany were the weakest regional markets.

Large Jet activity was the motor behind the growth in December, most markedly in France, Germany and Italy. Small and Mid-size Jet traffic was up 15% in Italy while. The standout growth in AOC activity came in Italy (20%). Germany, Spain, Austria and Russia each had >10% growth. UK Charters fell 5%. Private activity was up 20% in the Czech Republic, but down by 13% in Spain.

Intra-European flights were up 3% in December 2019, reducing the YTD deficit to 1.7% vs 2018. Flights to North America rose by 2% this year, but flights to Asia-Pacific fell 9%.

“December activity was surprisingly positive, up 3% YOY,” notes Richard Koe, managing director, WINGX. “Partly this is due to December 2018 being particularly weak (this 28 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

December’s activity was still well below the peak December activity back in 2007).

“The overall trend for this year is negative, with 2% fewer flights than 2018,” he added. “The growth this month has clearly come from the Super Mid-size, Super Light and Ultra Long-Range Jets, reflecting growth in the size of the active fleets in Europe towards the end of last year.”

MI www.wingx-advance.com page 32



www.AVBUYER.com

Hatt & Associates January.qxp_Layout 1 20/01/2020 11:57 Page 1

2007 Falcon 2000EX EASy II S/N: N331HA Reg: 117 5,456 hours since new Engines enrolled on ESP Gold, APU enrolled on MSP Gold Next Gen Avionics FANS 1/A, CPDLC, ADSB-Out, TCAS 7.1

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2017 Gulfstream G280 S/N: 2107. Reg: N280FR 472.1 Hours since New Engines Enrolled on MSP Planeview280 Cockpit FANS / CPDLC / ADSB Out Aircraft will be delivered with Fresh Gulfstream ARCS Pre-Buy Aircraft will be delivered with Paint Stripes from Steven Aviation

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2000 Boeing 757 SN 29306

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Flight Shaming Hits BizAv & Other Predictions for 2020 Brian Foley suggests that for private aviation, there are developments suggesting 2020 may shape up very differently to 2019. Here are his abridged thoughts, trends and predictions for the year.

The Big Trend: Aircraft owners risk being publicly called out à la Prince Harry for his now infamous Gulfstream jet trip to pal Elton John’s. In 2020, private flyers will gravitate towards ways to evade this kind of judgement and public humiliation, either by voluntary third-party carbon offset programs (a good alibi if confronted), or via charter, fractional or other nonownership models (that better protect identities).

To create favorable corporate identities, companies in the Business Aviation industry will tweak their ad copy and concoct PR stunts to demonstrate their commitment to the environment. Others will offer voluntary access to pay-as-yougo carbon taxes to accommodate those who really care and others who want to avoid public shaming.

What to Watch: Follow the money. With the US stock market up around 30% in 2019 and a repeat performance unlikely, investors are looking to overseas financial markets for better returns in 2020. This will have the effect of stimulating nonNorth American and emerging markets which have been on hiatus for much of the decade.

An inflow of investment due to attractive stock valuations coupled with an improved outlook for global growth and the probability of a successful Brexit will create a decent uptick in offshore business jet sales.

The Unconventional Wisdom: A lot has been said of the sharing economy’s effect on the industry. It’s been popularized that a younger generation of fliers want nothing to do with aircraft ownership, only wanting access and the experience of private flying.

The theory was this would further dent new aircraft sales while benefiting non-ownership models such as charter,

fractional and jet cards. That’s certainly not showing up in FAA flight statistics or even notionally.

Charter continues to be an oversupplied market. Fractional aircraft providers are still a shadow of their former selves since the great recession. Feedback from leaders in the charter business suggests millennials are barely moving the needle.

The Misplaced Assumption: US stock markets and corporate profitability have been consistently breaking records. In previous times this would have signaled a booming jet sales environment. Instead, sales have been flat for a decade and much of the stock market run-up can be attributed to artificial government interest rate stimulus rather than fundamentals.

It could even be argued that sales have remained stable and not fallen any further only because of a good economy.

This kind of reasoning would then portend a decrease in sales should economic growth falter in any way.

The Bold Prediction: There are 41 models of new business jets from seven OEMs vying for just 700 total worldwide industry sales per year. With such a relatively small market and workforce cutbacks, it wouldn’t be surprising for a least one of the participants to call it quits.

A ‘culling of the herd’ hasn’t occurred since Hawker Beechcraft went bankrupt a few years ago. Cessna ended up buying its ruins and four Hawker Beechcraft jet models were permanently removed from the market.

Bombardier has surely been evaluating its Learjet division which saw only nine aircraft delivered through Q3 2019. The recent move to offer the stripped-down, no frills, discounted ‘Liberty’ edition could be interpreted as a move to get rid of the last of the inventory rather than a tactical market strategy.

In short, looking at the above projections, 2020 will not be just another cookie-cutter 2019.

MI www.brifo.com

G700 Announcement: What’s Next for Gulfstream?

In the last Gulfstream Aircraft Quarterly Market Update, Hagerty Jet accurately predicted the announcement of the new G700. But what’s next for the OEM? While there were few surprises for Hagerty Jet Group in the announcement of the Gulfstream G700, the company had predicted the announcement of a sister ship called the G800 which would incorporate the upgrades of the G700 but maintain the shorter fuselage of the G650ER and have a range of 8,000nm.

“A G800 model is a natural follow-up to the G650ER and will likely be announced eventually, but certification of the G700 is the primary focus,” Hagerty Jet suggests, adding “the 32 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

G700 will be a great airplane and a strong competitor to the Global 7500 but with a price tag of $75m.

“Our concern is the limited number of potential buyers in a saturated market where Bombardier and Gulfstream have capacity to build 120 airplanes each and are competing head to head.”

Prices of pre-owned G650s have

dipped towards $40m, giving a strong argument for buyers to remain focused on the used market. “The next logical product for Gulfstream to announce, apart from the G800, would be a new G400 model,” Hagerty suggests.

This aircraft would be a shorter version of the G500, with two and a half living areas, a price point below $40m and a range of 4,000nm or more. “This segment of the market has been neglected by Gulfstream, Dassault and Bombardier. The Citation Columbus which would have filled this segment would have been a great opportunity for Cessna to gain market share, but plans have been put on hold indefinitely.

MI www.hagertyjet.com page 36



www.AVBUYER.com

Freestream January.qxp 17/12/2019 15:16 Page 1

2009 Boeing BBJ3

2006 Gulfstream G550

Airframe Total Time: 2,925 hrs Aircraft Total Cycles: 886 cycles

Airframe Total Time: 7419.5 hrs Aircraft Total Cycles: 2700 cycles

2009 Falcon 7X

2006 Gulfstream G550 S/N:5112

2018 Gulfstream G650ER S/N:6286

2011 Gulfstream G550 S/N: 5319

S/N: 046 Airframe Total Time: 5,831.5 hrs Aircraft Total Cycles: 1,492 cycles

Airframe Total Time: 245.9 hrs Aircraft Total Cycles: 77 cycles

FREESTREAM AIRCRAFT LIMITED

London +44 207 584 3800 sales@freestream.com

Airframe Total Time: 3,860 hrs Aircraft Total Cycles: 1588 cycles

Airframe Total Time: 1775.0 hrs Aircraft Total Cycles: 850 cycles

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_Sparfell_AvBuyer_JAN_2020_double_page.indd 1

16.12.19 17:45

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2012 LINEAGE 1000 S/N 317

2’300 TT, ENG & APU on progs, 2017 Paint & Interior, Fresh 96 Mths.

1’840 TT, Engines on GE Onpoint Program, WiFi, 19 Pax.

2003 HAWKER 800XP S/N 258612

2007 LEGACY 600 S/N 995

3’950 TT, ENG on MSP Gold, 8PAX + Belt Lav. Fresh from 4 & 16 yrs check + ADS-B

4’654 TT, Fresh of 144/LDG OVH/ADSB, EASA, EEC, RRCC, WiFi, 13 Pax.

2014 CITATION CJ4 OFF-MARKET

2010 A109S GRAND S/N 22162

2’984 TT, ADS B out v2, T-CAS 7.1, airframe & eng. on programs, EASA, 9 Pax, WAAS, LPV, not EU imported, one owner since new

1’668 TT, New. Int. & Paint 2018 - Will be delivered fresh from annual inspection in December, 5 + 1 Pax.

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09.01.20 11:30

MarketIndicators FEB20.qxp_Layout 1 22/01/2020 14:19 Page 5

MARKET INDICATORS

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Table A

In-Service Aircraft Values & Maintenance Condition

Fleet Maintenance Condition

5.35

$ Million

$1.45 $1.34

5.25

5.206

5.15 J

F

M

Quality Rating

The final month of 2019 saw Asset Insight’s tracked inventory fleet of 96 fixed-wing models decrease 1.6% to 1,748 units. December’s ‘for sale’ assets equated to a 9.9% annual increase…

All four aircraft groups experienced inventory escalation: Small Jets led the way with a rise of 15.4%; Medium Jets followed at 9.8%; Large Jets increased 8.7%; and Turboprop availability grew 2.1%.

During 2019, the average Ask Price for aircraft in the tracked fleet decreased 3.1%, with three groups losing ground. However, Medium Jet pricing increased 11%.

Inventory Fleet Maintenance Condition

With the traditional Q4 transaction frenzy coming to a close, owners of lower quality assets apparently decided they needed to sell, slightly improving the quality of inventory assets entering 2020, while concurrently reducing availability of aircraft harboring higher nearterm maintenance costs.

Our tracked inventory registered the following figures…

Quality Rating: The ‘for sale’ fleet’s Quality Rating rose (improved) a nominal 0.2% in December, from November’s 5.198 to 5.206. This Quality Rating is within the ‘Very Good’ range on Asset Insight’s scale of -2.5 to 10.

Maintenance Exposure: At $1.345m, Maintenance Exposure (an aircraft’s accumulated/embedded maintenance expense) posted the lowest (best) monthly figure for all of 2019.

Maintenance Exposure to Ask Price (ETP) Ratio

The ETP Ratio is a useful indicator of an aircraft’s marketability. It’s computed by dividing the asset's Maintenance Exposure (the financial liability accrued with respect to future scheduled maintenance events) by its Ask Price.

‘Days on Market’ analysis has shown that when the ETP Ratio is greater than 40%, a listed aircraft’s time on the market increases, usually by more than 30%. During Q4 2019, assets whose ETP Ratio was 40% or more were listed for sale nearly 84% longer on average than aircraft whose Ratio was below 40% (215 versus 395 Days on the Market).

December’s analytics also revealed that over 52% of the tracked models, and nearly 60% of the tracked fleet, posted an ETP Ratio greater than 40%.

December’s fleet ETP Ratio worsened (increased) slightly to 64.8% from November’s 64.3%, the latter being the lowest (best) monthly Ratio since April.

• • • •

In their ongoing battle for the best ETP Ratio, Turboprops ended the year in the lead by posting the lowest ETP Ratio (52.1%); Large Jets dropped to second place (55.1%); Small Jets remained unchanged (67.3%); Medium Jets worsened to 75.5%. page 40

36 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

$1.50



A

M

J

J

A

Maintenance Exposure

S

O

N

$1.40 $1.35 $1.30

D

Quality Rating Trendline

Table B LOW RISK AIRCRAFT MODEL ETP RATIO CL-650 3.9% Citation Latitude 3.9% G650 4.9% F2000LX 10.5% Boeing BBJ 11.1% F900EX EASy 12.1% Citation CJ4 525C 12.5% Citation Encore + 14.3% CL-605 14.8% Phenom 300 15.4% Pilatus PC-12 15.5% F2000EX EASy 16.0% F900DX 17.2% G450 18.4% Piper Meridian 19.0% Citation Sovereign 680 21.3% KingAir 350 - Post-2000 22.2% G150 22.6% G550 22.7% Global 5000 23.6% Hawker 900XP 23.9% Citation CJ3 24.4% CL-300 26.2% Citation Encore 27.1% Citation XLS 27.4% Global XRS 28.1% Citation CJ2+ 525A 29.6% Citation Mustang 510 29.8% GV 31.5% Citation XLS (MSG3) 32.3% KingAir B-200 - Post-2000 33.1% Learjet 45XR 33.7% F900B 34.2% Phenom 100 34.3% F900EX 34.9% Citation CJ1+ 35.8% Citation CJ2 36.2% KingAir 350 - Pre-2001 39.8% Falcon 50EX 39.9%

HIGH RISK AIRCRAFT MODEL ETP RATIO Hawker 850XP Citation Bravo Embraer Legacy 600 Learjet 60XR Citation Excel 560XL Piaggio P-180 II CL-604 F900 G200 Premier 1A KingAir B-200 - Pre-2001 Hawker 400XP KingAir 300 Global Express Learjet 45 w/APU F2000 Premier 1 Hawker Beechjet 400A GIV-SP Citation V Ultra Hawker 800XP Learjet 45 Citation V 560 Citation II Piaggio P-180 Learjet 60 Citation ISP Hawker Beechjet 400 Learjet 55C Hawker 1000A CL-601-3R F50 KingAir C90 Citation VI G100 Learjet 31 GIV Hawker 800A Learjet 35A Learjet 55 CL-601-3A F20-5 CL-601-1A

40.5% 41.7% 41.8% 43.6% 45.4% 46.8% 46.9% 48.0% 50.2% 51.3% 53.2% 53.4% 54.8% 55.1% 62.6% 65.1% 65.6% 67.7% 69.0% 69.3% 72.1% 73.4% 77.5% 93.9% 104.7% 106.6% 107.4% 108.0% 108.5% 108.9% 125.0% 125.8% 127.7% 132.5% 136.0% 138.7% 142.9% 157.4% 181.1% 189.3% 198.7% 252.3% 319.1%

Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of December 31 2019 Source: JETNET (www.jetnet.com) Asset Insight, LLC (www.assetinsight.com)

www.AVBUYER.com

Elliott Jets February.qxp_Layout 1 20/01/2020 12:00 Page 1

Project1_Layout 1 28/01/2020 12:18 Page 1

The smoothest connection to your next aircraft.

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.

1983 BOMBARDIER CHALLENGER 601-1A S/N 3003 • 10,234 Hours; 5,622 Landings • A Motivated Seller • Inviting Best Offers

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2019 BOMBARDIER GLOBAL 7500 S/N 70011 • Delivery Times Only • Immediately Available • 12 Passenger Configuration w/ AFT Bed

2013 BOMBARDIER GLOBAL 5000 S/N 9504 • 2,045 Hours; 545 Landings • One Owner Since New • Excellent Condition

2004 BOMBARDIER LEARJET 60 S/N 272 • 2,786 Hours; 2,046 Landings • Engines Enrolled on ESP Gold • 8 Passenger Interior w/ Belted Lav

2007 BOMBARDIER LEARJET 60XR S/N 0326 • 2,544 Hours; 1,559 Landings • 12 Year Inspection Done In October '19 • 2020 Compliant

2016 CESSNA CARAVAN 208

S/N

20800577

• 642 Hours: 1,194 Landings • WipeLine Amphibious Floats • Interior Corrosion Treatment

2010 CESSNA CITATION CJ4 S/N 525C-0009 • 1,989 Hours; 1,368 Landings • 96 Month Completed in July 2018 • Fully Programmed

Project1_Layout 1 28/01/2020 12:19 Page 1

AI RCR AF T I N V E N TO RY

2014 CESSNA CITATION SOVEREIGN+ S/N 680-0531

2012 GULFSTREAM G450 S/N 4237

• 2,256 Hours; 2,510 Landings • Fully Enrolled on Programs • Nine (9) Passenger Interior

• 3,726 Hours; 1,578 Cycles • Engines & APU on Programs • Fresh from 96 Month Inspection

2013 CESSNA GRAND CARAVAN EX S/N 208B5030

2008 PILATUS PC-12 S/N 1042

• 553 Hours; 606 Landings • Wipline 8750 Amphibious Floats • Single Point Fueling System

• 2,707 Hours; 2,391 Landings • One Owner Since New • Always Hangared

2005 HAWKER 800XP S/N 258690

2014 DASSAULT FALCON 2000LXS S/N 283

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I N FO @ JETC RAFT. CO M

1994 KING AIR C90B 2015 BOEING 787-9 2012 CHALLENGER 300 2019 CHALLENGER 350 2009 CHALLENGER 605 2016 CHALLENGER 650 2018 GLOBAL 5000 2016 GLOBAL 6000 2011 GLOBAL XRS 2003 CITATION CJ2 2014 CITATION X+ 2014 FALCON 900LX 2006 HAWKER 800XPI 2016 GULFSTREAM G650ER 2018 LEGACY 500

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MarketIndicators FEB20.qxp_Layout 1 22/01/2020 14:20 Page 6

MARKET INDICATORS

Large Jets Ask Price vs. Maintenance Exposure

Asset Quality Rating

$ Millions

Scale -2.500 to 10.000

$ Millions $3.60 $3.40 $3.20

Market Summary

The new year could result in some dramatic price decreases for older aircraft that have not met the January 2020 ADS-B equipage mandate. As mentioned last month, we believe nonequipped turbine assets will not be ‘worthless’, but their values will be negatively impacted.

For aging assets, especially those with little time left before reaching their engine TBO, salvage value is a very real possibility.

Large Jets: The tracked fleet total stayed the same, with inventory remaining 30 units higher than the previous year. The group’s Quality Rating has been in the ‘Outstanding’ range for the past eight months, and Maintenance Exposure improved (decreased) another 2% in December to post a 12-month best (low) figure.

Unfortunately, Ask Pricing decreased an additional 1.2% to

Medium Jets

Nov-19

Oct-19

Sep-19

Aug-19

Dec-19 Dec-19

Dec-19

Nov-19

Oct-19

Sep-19

Aug-19

Jul-19

Jun-19

May-19

Apr-19

Mar-19

Feb-19

Jan-19

40 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

Nov-19

5.000 Oct-19

$1.20

Sep-19

$2.30

Aug-19

5.100

Jul-19

$1.25

Jun-19

$2.50

5.046

May-19

5.200

Feb-19

$1.30

$2.71

Jan-19

5.300

$2.70

Jul-19

Asset Quality Rating Scale -2.500 to 10.000

$1.35

$1.32

Jun-19

Medium Jets: While the tracked inventory decreased by nine units, the group ended the year with 48 more listed assets. At 5.046, the Quality Rating registered in the ‘Very Good’ range, but March 2019 was the last time this figure was lower (worse).

Curiously, Maintenance Exposure improved (decreased) 1.1% in December, but that still left it 2.7% worse (higher) for Q4 compared to Q3, while the ETP Ratio was up (worse) for the month and the quarter.

Amid all this negativity, the group’s performance relative to Ask Price continues to amaze us. Ask Price worsened 3% in December but was up nominally for the quarter and 11% for the calendar year. Careful and detailed analytics are key for buyers seeking good value in this arena.

$ Millions

$2.90

May-19

finish down 7.6% for the quarter and 9.1% for the year. Entering 2020, buyers who do their homework can benefit from low pricing available on higher quality assets.

Apr-19

Ask Price vs. Maintenance Exposure

5.400

Apr-19

$2.80

Jan-19

Dec-19

Oct-19

Nov-19

Sep-19

Aug-19

Jul-19

Jun-19

Apr-19

May-19

Feb-19

Mar-19

$2.93 Jan-19

$10.0

5.500

Mar-19

$3.00

Mar-19

$10.9

$11.0

5.568

5.600

Feb-19

$12.0

5.700

www.AVBUYER.com

MarketIndicators FEB20.qxp_Layout 1 22/01/2020 14:21 Page 7

AVBUYER.com Tony Kioussis is president of Asset Insight.

The company provides audit and valuation services and has developed a standardized Asset Grading System scale that evaluates an aircraft’s maintenance condition.

Small Jets Ask Price vs. Maintenance Exposure

Asset Quality Rating

$ Millions

Small Jets: The last time this group posted an ‘Excellent’ Quality Rating was in May 2019, and to find a better (lower) Maintenance Exposure figure one needs to look back to April 2019. The problem for sellers (a negotiating edge for buyers) is the high inventory level for many models, as the tracked fleet increased 73 units during 2019, even though December’s inventory decreased by 16.

Pricing, not surprisingly, decreased 2.9% for the month, 1.8% for the quarter, and 5.7% for the year. If aircraft not equipped with ADS-B remain in the listed fleet, prices are expected to drop further now we have entered 2020.

Outstanding Excellent 5.500 5.250 or to Greater 5.499

Turboprops

www.AVBUYER.com

4.750

Dec-19

Dec-19

$0.50

Nov-19

4.850

Oct-19

$0.55

4.934

Sep-19

4.950

Aug-19

$0.60

Jul-19

5.050

Jun-19

$0.65

May-19

5.150

Mar-19

Dec-19

Nov-19

Oct-19

Sep-19

Aug-19

Jul-19

Jun-19

May-19

Apr-19

Mar-19

Feb-19

Jan-19

$1.40

$1.47

$0.70

Feb-19

$1.45

Below Average Average 4.500 Less to than 4.749 4.500

Good 4.750 to 4.999

Scale -2.500 to 10.000

Jan-19

$0.62

$1.50

Very Good 5.000 to 5.249

Asset Quality Rating

$ Millions

$1.55

Nov-19

Asset Quality Rating Key

Apr-19

Ask Price vs. Maintenance Exposure

Oct-19

Maintenance Exposure and the group’s ETP Ratio were better (lower) than December’s figure.

Unlike the other three groups, Turboprop inventory remained quite stable throughout the year, ending only nine units higher.

With pricing just about at the 12-month average, buyers and sellers should be in a good position to structure mutually beneficial transactions.

MI www.assetinsight.com ❙

Asset Insight analytics (www.assetinsight.com)

Turboprops: This was the only group to post an Ask Price increase this month Pricing was 4.7% higher for Q4, but Asset(2%).

Insight analytics (www.assetinsight.com) down 2.2% for the calendar year. Turboprop asset Quality spent most of 2019 in the ‘Good’ range, after falling from the ‘Very Good’ slot it occupied in January. It was in March 2019 when

Sep-19

5.000

Aug-19

$0.60

Jul-19

5.200

Jun-19

$0.70

5.270

May-19

5.400

Apr-19

Dec-19

Oct-19

Nov-19

Sep-19

Aug-19

Jul-19

Jun-19

Apr-19

May-19

Feb-19

Mar-19

$1.68 Jan-19

$1.65

$0.80

Mar-19

$1.75

5.600

Feb-19

$0.72

$1.85

$0.90

Jan-19

$1.95

Scale -2.500 to 10.000

AVBUYER MAGAZINE Vol 24 Issue 2 2020

41

2 0 0 8 C i t a t i o n M u s t a n g s /n 5 1 0 - 0 1 2 0

NEW LISTING

AIRCRAFT SALES & ACQUISITIONS

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1/14/2020 1:40:17 PM

Market Insight 1.qxp_Layout 1 21/01/2020 11:55 Page 1

AVBUYER.com

MARKET INSIGHTS

What Does the Market Hold in 2020?

As with most years, 2020 has its challenges for the pre-owned aircraft sales industry. But what can buyers and sellers expect? Rebecca Applegarth asks Lee Thomas

Eagle Aviation’s Lee Thomas how he sees the market…

ith the end of 2019 bringing a surge in pre-owned aircraft sales, the final number of business jet and turboprop transactions for the year has yet to be published (though it’s unlikely to match 2018 sales levels).

Now Business Aviation has entered a new decade, and a New Year that brings the enforcement of ADS-B, and a US Presidential election. Coupled with murmurings that the economy could be heading for recession, it’s a timely question to ask those in the industry just how they see the year ahead unfolding.

One December report emanating from the broker community attributed a year-end burst of activity in the pre-owned marketplace to buyers and sellers trying to make deals in 2019 as a hedge against economic,

W

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political and tax uncertainties this year.

“As we move into election year, there are always uncertainties,” notes Lee Thomas, president, Eagle Aviation. “However, I attribute more of the flurry in 2019 to the strong economy and the advantageous tax laws in the US.” Thomas started working for Eagle Aviation when he was 25, and has progressed through the ranks from aircraft research, to salesman, to vice-president of sales, to president.

As well as its aircraft sales business, Eagle Aviation, based in Columbia, South Carolina, provides FBO, maintenance, paint and interior, parts and aircraft charter services. Eagle has historically specialized in Cessna Citation and Beechcraft King Air sales, but is also very active in the single-engine Cessna and Cirrus



AVBUYER MAGAZINE Vol 24 Issue 2 2020

45

Market Insight 1.qxp_Layout 1 21/01/2020 11:55 Page 2

MARKET INSIGHTS

AVBUYER.com

“Finding good quality, later model aircraft remains a tall order at the start of this New Year.” markets, and has branched into the Embraer, Gulfstream and Falcon markets.

So how do things look at the start of 2020? Can we expect to see the market slow down again as the new year gets underway? “We started 2020 with a flurry of activity, with several acquisitions and new inventory coming to the market,” Thomas shares. “Activity, generally, has been robust.”

Nevertheless, the current marketplace is no place for buyers or sellers to enter without the correct information to hand. While inventory levels have been rising over the past twelve months, and asking prices continue to wane, Thomas describes the market as a “dynamic” one, where securing a great deal from among the available inventory requires a great deal of skill.

“I couldn’t imagine trying to buy or sell in this market without experienced broker representation,” Thomas warns. “Finding good quality, later model aircraft remains a tall order at the start of this New Year.”

Encouraging Trends as 2020 Begins

Topics that grew in momentum as 2019 unfolded include the potential impact of the Millennials (perceived as preferring shared ownership/charter models of utilization instead of full ownership), and the optics of owning business aircraft in the midst of an increasing focus to reduce carbon footprints.

Both trends, according to observers, could spell out tougher times ahead for business aircraft OEMs, dealers and brokers if demand for ownership drops.

For the time being those fears do not tally with Thomas’ observation of the marketplace, however.

“We have seen several first-time buyers enter the market,” he reveals.

46 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

Pressed on his views for the year ahead, he adds, “I think 2020 is going to be an amazing year, assuming we can avoid worldwide conflict. The economy in the US remains robust which translates to increased activity.”

The ADS-B Ripple Effect (Real or Not?)

Of course, we couldn’t preview 2020 without due consideration of the fall-out of the ADS-B mandate as it comes into effect. Concerns have existed for some time that the business jet fleet and inventory for sale is growing older.

With ADS-B predicted to force a rise in fleet retirements of older aircraft, could these have a meaningful impact on the fleet size in the US, and specifically on the lower end of the pre-owned aircraft market?

“Sure, we are seeing a few of the older aircraft electing not to comply, but I don’t think it’s going to be a meaningful impact,” Thomas projects. “I believe many of those jets already had other expensive issues such as engine overhauls, avionics upgrades, cosmetics (paint and interior), major inspections, etc. that contributed to their demise.” ❙ More information from www.eagle-aviation.com

Rebecca Applegarth has been brought up around aviation for as long as she can remember. As a current PPL she is developing her passion for writing and flying as an Aviation Journalist on the AvBuyer team.

www.AVBUYER.com

The Private Jet Company February.qxp_Layout 1 20/01/2020 12:05 Page 1

For Immediate Sale

2016 LEAR 70 S/N 2129

2008 HAWKER 4000 S/N RC-10

1,720 Hours, MSP, Smart Parts, ADSB-Out, WiFi, Make Offer

1,095 Hours, BPU/Load 20, MSP + ESP Gold, Dual HF, Part 91, Make Offer

2004 CITATION CJ3 S/N 10

2002 GULFSTREAM GIV-SP S/N 1484

2012 LEAR 60XR Off Market

2002 HAWKER 800XP S/N 258555

3,540 Hours, Tap Elite, Proparts, ADS-B Out, WiFi, 2016 Interior, 2017 Paint, Make Offer

1,200 Hours, ESP Gold, MSP Gold, Smart Parts, ADSBOut, Domestic and Int'l WiFi, US Based, Make Offer

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2,900 Hours only, 2016 New Paint & Interior, WiFi, High Pedigree, Asking $5.5m

4,210 Hours, MSP Gold, ADS-B, WiFi, Make Offer

Info@ThePrivateJetCompany.com

J Project1_Layout 1 28/01/2020 12:20 Page 1

2015 LEARJET 75

2004 HAWKER 400XP • ADS-B / CPDLC • Low Time - Only 760 Hours Since New

• Serial Number: 45-490 • MSP Gold and SPP Parts Program • EASA and EU Ops Certified

2007 LEARJET 45XR • Delivered with Recent A - D Inspections • Paint and Interior Refurbished - 2016

2013 GULFSTREAM 2018 KING AIR 250 G280 Fully SerialProgrammed: Number: 2007 Engines, Airframe, WAAS / LPV / CPDLCParts / RVSM / and FANSPropeller 1/A, ADS-B Out Warranties • OEM Engines and Airframe on Programs, Hours - 2,070 • ADS-B Out;Low RVSM

• Interior Carpet and Leather Refurbishment – Jan. 2019 • Always Hangared

2005 KING AIR C90B

• Serial Number: 45-346 • Engines and APU Enrolled on MSP • Next Gen Avionics: ADSB-Out, TCAS 7.1

• •

• Serial Number: RK-374 • RVSM and Currently on a FAR 135 Certificate • Based and Registered in the US Since New

• Low Timethan 200 • Since New, TotalLess Landings 1,004Hrs • Immaculate Condition, • Honeywell MSP, Gulfstream Plane Parts • No Damage • Gulfstream CMP, Aircell Gogo Biz, Inflight Internet

• Serial Number: LJ-1753 • Fresh Landing Gear OverhaulSept 2019 Overhaul-Sept 2019 • Fresh ADS-B Out- Dec 2019

FreshPropeller PropellerOverhaulOverhaul•• Fresh Sept2019 2019 Sept Fresh1-4 1-4Inspection Inspection Checks•• Fresh Sept 2019 2019 Checks-Sept

2016 KING AIR 350i • • • •

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Project1_Layout 1 28/01/2020 12:20 Page 1

Your Headquarters for Global Aircraft Sales

2007 FALCON 2000EX

2007 GLOBAL 5000 2011 CITATION SOVEREIGN

• Painted in July 2013 • Serial Number: 117 • Engines Enrolled on ESP Gold/ • Fresh Interior Refurb APU Enrolled on MSP Gold • Completed by West Star Grand Junction - March 2019 • Next Gen Avionics - FANS 1/A, CPDLC, ADS-B Out, TCAS 7.1

• • ••

2003 GLOBAL EXPRESS

2008 LEARJET 60XR

• Fresh 12C Inspection • Serial Number: 9082 Completed Oct 2017 • RRCC / MSP Gold / HAPP / JSSI • All New Paint and Interior Parts / CAMP Programs • Batch 3 / FANS 1/A / SBAS / LPV / Completed in 2018 WAAS / TCAS 7.1 / ADS-B Out

• Serial Number: 0360

• ADS-B Out/In – Sept. 2019

• Airshow 410 Cabin Video System

• Fresh A (12mo) & D (96mo) Inspections – Oct. 2019

Serial Serial Number: Number: 680-0290 9226 Low Time 1,221 Hours Always Hangared Program Enrolled - JSSI One Owner Since New (Engines & APU) • WAAS / LPV

• Part 135 Operated • Total Interior Refurbishment – Sept. 2019

• Extended Range • Next Gen Avionics - FANS Oxygen System 1/A, CPDLC, ADS-B Out • EU CertifiedExecutive • 13OPS Passenger Configuration

• 3000 Cycle Landing Gear Inspections – Oct. 2019

Schedule an appointment with our team by emailing sales@jethq.com.

2007BEECHCRAFT GLOBAL 5000 1992 A36 BONANZA Beechcraft A36 Bonanza • Serial Serial Number: 9226 SerialNumber: Number:E-2690 9226 • 4,221 Hours Since New Low Time 1,221 • Low Time - 1,221 Hours Hours • ADS-B Compliant Program Enrolled - JSSI Program JSSI (Engines APU) -2020 •• New Paint-&Enrolled January (Engines & APU)

• Next NoAvionics Damage History • Next• Gen - FANS Gen Avionics -1/A, FANS CPDLC, ADS-B OutCarpet •1/A, Seats and Interior 2011 CPDLC, ADS-B Out • 13 Passenger Executive • 13 Passenger Executive Configuration Configuration

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INTERNATIONAL HEADQUARTERS Dubai, UAE

Buying&Selling 1 FEB.qxp_Finance 21/01/2020 14:42 Page 1

BUYING & SELLING AIRCRAFT

Buying a Jet? Understanding the Advert Abbreviations (Part 3) In this series, Ken Elliott delves into the complexities of the terms used by aircraft brokerages in advertisements to distinguish their inventory from other aircraft on the market. The series

concludes with a focus on aircraft status and configuration… s highlighted in Table A, there are several areas of interest for an aircraft transaction, focused on the aircraft type and model chosen. Having covered the previous areas depicted across the previous two articles, following we’ll address the last two items on the list, and assume ADS-B Out compliance.

A

Service Currency refers to the maintenance status of the aircraft either now or as it will be delivered to a new owner. An advert may include three separate statements re. maintenance status: •

Aircraft Status

For the purpose of this article, ‘Aircraft Status’ refers to the condition of the aircraft at the time of sale, regarding maintenance and appearance as well as its operating readiness.

•

1) Service Currency (Fully enrolled in programs/Recent C check)

Example: Fully enrolled in programs/Recent C Check/Paint stripes and refurbished interior 2018/Based & registered in US since new/Maintained & Operated Part 135/ EASA & EU-Ops 1.

• •

Checks or inspections completed, with ‘Fresh’ referring to very recent.

ADs* or SBs** (or ASCs*** for Gulfstream jets) completed. Only critical, commonly sought bulletins are listed.

Pre-buy completed, referring to an inspection, readying the aircraft for sale. This should include a review of the aircraft records. It can be completed by the aircraft manufacturer or third party, and the purchaser can require a pre-buy inspection at a suitable facility by mutual agreement.

Table A: Grouping the Descriptive Abbreviations Used in Aircraft Transactions

GROUPING

DESCRIPTION

Aircraft Primary

Model & Year of Manufacture

Aircraft Times & Cycles

Total Hours & Number of Times Flown

Programs

Tracking - In-Service - Warranty

Options

Typical Factory Options, Available or Included

Enhancements

Avionics – Winglets – LED Lights

Status

Service Currency – Aircraft Condition – Operating

Configuration

How is the Overall Cabin Laid Out?

50 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

D

www.AVBUYER.com

WHAT FOR?

w

Buying&Selling 1 FEB.qxp_Finance 21/01/2020 14:42 Page 2

AVBUYER.com Ken Elliott is a veteran with 52 years of aviation experience focused on avionics, in General and Business Aviation.

Having a broad understanding after working in several countries on many aircraft types and avionics system, he has contributed to several work groups and committees, including for NextGen, Airport Lighting, Human Factors, Unmanned Aircraft and Low Vision Technology. In retirement, he is striving to give back the knowledge gained with an eye on aviation’s future direction.

* Airworthiness Directive: Issued by the Airworthiness Authority and typically mandates an SB issued by the aircraft or equipment OEM. ** Service Bulletin: Issued by the aircraft or equipment OEM and may be optional, recommended or required – but not enforced.

service currency is the status of the aircraft’s documents, commonly referred to as ‘Logs’.

Table B indicates several key documents that must always stay with an aircraft’s folders or be on-board.

Comments: Look out for statements like ‘will be’, ‘due’, ‘ready to be’, ‘capable’ or ‘provisioned’.

These indicate the aircraft is not yet ‘in *** Aircraft Service Change: Considered a compliance with’, or only has part of what you modification to a Gulfstream aircraft, post factory may need. delivery.

Moreover, for ADs and SBs, look out for regional enforcement. If you intend to register the Regarding the last completed inspection, our aircraft somewhere other than its previous country example refers to a Dassault Falcon ‘C’ Check. In of registration, the new airworthiness authority this case, it is a major inspection carried out every may apply different aircraft status requirements. eight years (96 months), or at 4,000 flight cycles, Note, service status includes enrolled service whichever occurs first. A flight cycle is one takeprograms and compliance with mandates. off and landing, irrespective of the length of the Some adverts will state who has been flight and is crucial for monitoring the impacts of DESCRIPTION maintaining the aircraft. This could be a ‘service fatigue, both GROUPING on the airframe and especially the center’ (usually refers to an OEM’s facility or welllanding gear. known third-party shops such as West Star Each aircraft type has a different inspection Aviation, Duncan Aviation, Standard Aero or regime and uses unique labelling such as Elliott Aviation). While this can be very helpful, it’s ‘Annual’, ‘A Inspection’ or ‘12 month’. Annual common for aircraft to cycle through different inspections are overlapped by more thorough shops for very good reasons. Most important, is checks completed over longer cycles. that ALL the records and logs should be present Having an attractive aircraft is one thing, but and accurate. Missing part or all the records is not the flying history behind the distinctive paint what you want to find. veneer, is just as crucial. Also important for



Page 54

Table B: Documents That Must Remain with an Aircraft’s Folders

DOCUMENT Airworthiness Certificate

WHAT FOR?

Aircraft worthy to fly

Registration Certificate

Aircraft registered with airworthiness authority

Aircraft Flight Manual

Pilot’s instruction book for an individual aircraft

Maintenance & Inspection Logs Records of inspections, checks, service & mods Records each engine service and check record Engine Logs Equipment List (MEL/MMEL) Radio Certificate Placards & Markings

Minimum equipment required to fly The approval to transmit over the airwaves Required statements of notification posted on A/C

Weight & Balance

What is installed and where/weight-arm and movement

RVSM

Aircraft complies with vertical separation requirements

Note: The above list is not fully inclusive, but serves as an example only

www.AVBUYER.com

AVBUYER MAGAZINE Vol 24 Issue 2 2020

51

5

Jeteffect 6 February.qxp 23/01/2020 09:52 Page 1

Gulfstream G650ER • S/N 6255

Gulfstream G550 • S/N 5265

File Photo

Gulfstream G450 • S/N 4189

Gulfstream G450 • S/N 4148

Gulfstream G150 • S/N 216

Falcon 900EXy • S/N 122

Los Angeles Palm Beach Dallas Atlanta Virginia Beach South Carolina email: info@jeteffect.com

• 562.989.8800 • 561.747.2223 • 214.451.6953 • 334.502.0500 • 757.821.2921 • 803.345.6000 • www.jeteffect.com

Jeteffect 6 February.qxp 23/01/2020 09:52 Page 2

Falcon 50 • S/N 112

Challenger 650 • S/N 6086

Hawker 800XP • S/N 258390

Citation X • S/N 750-0121

Citation Excel • S/N 560-5159

Citation Encore • S/N 560-0568

File Photo

Los Angeles Palm Beach Dallas Atlanta Virginia Beach South Carolina email: info@jeteffect.com

• 562.989.8800 • 561.747.2223 • 214.451.6953 • 334.502.0500 • 757.821.2921 • 803.345.6000 • www.jeteffect.com

N Buying&Selling 1 FEB.qxp_Finance 21/01/2020 17:21 Page 3

AVBUYER.com

BUYING & SELLING AIRCRAFT Table C: Some Common Statements Appearing in Aircraft Ads

STATEMENT In service date (showing year) New external paint (showing year) One owner since new No damage history Always hangared Immaculate condition Based & Registered in US since new Refurb of interior (showing date)

COMMENT The year of manufacture and delivery Could be all, partial or stripes only Could be one owner but managed by another Let the independent ‘logbook review’ be the judge of that!

If accurate, implies less corrosion/wear and tear See it for yourself Base, registration history (and for how long) Wood/Leather/Re-rag/Carpet – what was done?

Note: The above list is not fully inclusive, but serves as an example only

2) Aircraft Condition (Paint stripes and refurbished interior 2018/Based & registered in US since new)

Aircraft condition includes surveying an aircraft from both an external and internal perspective. In fact, the aircraft service currency is also a reflection of its condition. Appearance is not everything, so that means checking the functionality of all that moves in the cabin, from doors to galley controls, and from lighting to passenger address.

It may be a good idea, as a purchaser, to create your own checklist for the cabin. Look at all the pictures available and think of yourself sitting at each location. What would you want at that location and is it going to work as you expect?

Think of seat location, movement, lighting, audio and video, external communication, internal communication, airflow, temperature control and master seat control of overall cabin functionality.

And create a checklist for external paintwork, interior wood, carpet, leather, mirrors, galley, lavatory, sidewalls, ledges, seating and overhead (even include the condition of windows). Keep in mind existing physical and electronic company logos will need to change.

Comments: Interior refurbishments are subjective.

It all depends on how the aircraft was used. If it was owned and operated by one individual/company, that is very different to being previously operated fractionally, or by a Part 135 charter company, when it comes to the anticipated condition of the interior.

It can help to consider living with the aircraft over several years with respect to its design and color scheme. Be especially sensitive to others important to you, and how they may react to the appearance of the aircraft. If anything needs changing it will be costly once you have the aircraft in your service.

Finally, even though a thorough Pre-Buy Inspection may have been completed, it’s wise to have an independent expert on the particular

54 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

model/year of manufacture give it the once over (including the all-important cockpit).

3) Operating (Maintained & Operated Part 135/EASA & EU-Ops 1)

Our example aircraft has been managed under FAA Part 135. For aircraft certificated under Part 25, being over 12,500lbs they may be operated under Part 91 or Part 135 rules (unless operated under a special category).

Part 91 refers to non-commercial rules that are less stringent and leave much decision-making to the pilot in-command. On the other hand, Part 135 refers to commercial operations, where the aircraft is utilized for compensation or hire and implies greater stringency in maintenance and operating requirements (i.e. training).

Internationally, airworthiness authorities mirror US rules to a large extent, with local variations.

The statement ‘EASA and EU-Ops 1’ in our example advert pertains to the aircraft having been operated in Europe. It’s common to see this statement (or similar versions of it).

It’s vital to first know where you intend to operate and second, find out exactly what the operating requirements are for each region in which you intend to fly. Moreover, know your Oceanic requirements. And remember, registering an aircraft in a country is very different to flying in and out of there.

Comments: Look out for unique operating capabilities of some business jet models. These include the ability to fly ‘Steep Approaches’ (i.e. flying into London City Airport) and ‘High Altitude Landing and Take-offs’ (operating at several airports in China, Peru, Nepal and Northern India).

Look out for upcoming aircraft tracking and recording requirements. These may call for the addition of equipment such as Quick Access Recorders (QAR) or Space-Based ADS-B (or equivalent).

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5

Gulfstream G450 2008 SERIAL NUMBER 4108

Highly Equipped and Turn-Key Condition!

Two U.S. owners since new

Enhanced Nav Package

Full maintenance programs

Synthetic Vision

New paint in 2017

FANS 1A/CPDLC and ADS-B Out

Falcon 2000LX 2011 SERIAL NUMBER 228

The 2000LX You’ve Been Searching For! Newest 2000LX currently available

Very low time

Former Falcon demonstrator

Enrolled in Falcon Care, ESP Gold, MSP

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BUYING & SELLING AIRCRAFT Table D: Some International Requirements to Look For & Understand

DESCRIPTION

DESIGNATION RVSM

Reduced Vertical Separation Minima

CPDLC

Controller Pilot Data Link Communications

DCL

Departure Clearance (data not voice)

VDL

VHF Data Link

LINK 2000+

A specific CPDLC requirement for European Ops

RNAV

Area Navigation (at different levels of offset allowance)

ADS-B

Automatic Dependent Surveillance - Broadcast

ADS-C

Automatic Dependent Surveillance – Contract (using Satcom)

HUD

Head Up Display (China operations)

TCAS

Traffic Collision Avoidance System (up to Change 7.1)

EGPWS

Enhanced Ground Proximity Warning System (same as TAWS)

Note: The above list is not fully inclusive, but serves as an example only

Configuration

Head of State). Also for Large Jets there may be a comment such as ‘PATS Aux Fuel Tanks’, referring to the aircraft having additional fuel tanks for extended range (in this case, installed by PATS, the completion center). And inclusion of a shower is often a key selling point for Large Jets.

•

In Summary While far from conclusive, the implied message of this series to prospective buyers is to do the following:

For this article, Configuration refers mostly to how the aircraft’s interior is configured. Often overlooked, configuration of seat location and how the specific serial number of aircraft is certified for its seating can make all the difference.

Example: 14 Pax Config/Belt Lav/Crew Rest/Fwd Galley

Even aircraft of the same model can have different seat configurations and will be certified for how they’re configured. Seats are either grouped (club), forward or aft facing, or in the form of divans. If you see 8+1 Pax (for example), this refers to eight passengers and one cabin crew.

Although ‘Crew Rest’ refers to a private space for the cabin-crew member, a jump seat is not considered an additional crew seat but temporary and is only intended for short flights or crew/cockpit monitoring work.

Aircraft may have one or even two lavatories and a galley, located either forward or aft. A ‘Belt Lav’ refers to seat belt that may be required to operate. The vestibule is the aircraft entry area and a common location for Fwd Galley/Crew Rest and Lavatory.

Comments: Do not forget baggage and accessibility in considering configuration. Baggage is not just about available space but how that relates to the aircraft’s weight & balance. The aircraft has a weight limit and how the weight is distributed impacts its aerodynamic capability.

For very large aircraft, look out for the ‘VVIP’ statement that refers to the aircraft being previously used for a very important VIP (usually 56 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

•

Understand each and every term/abbreviation in the advertisement/associated promotional material.

• Do due diligence in ensuring that the aircraft satisfies your operating requirements in every possible way. Operating includes maintenance, hangarage, the cost of not flying, training, logistics support and more.

• An aircraft’s history tells a deep story. Know that story. An aircraft is not as simple as an automobile, or as grand as a cruise liner. It’s complex in so many ways. Anything missing from the story is a red flag.

Always consult and research before you buy. To make adjustments later will take more time and money, as well as lost utilization. Brokers exist for a reason. T Disclaimer: The summaries and tables provided within this article are NOT fully inclusive and are meant to provide those abbreviations commonly found. It is not possible to include all of them here. It is assumed this article will help guide the reader to seek further information by knowing where to begin within the complex architecture surrounding an aircraft transaction. www.AVBUYER.com

P057.qxp_Empyrean 21/01/2020 15:40 Page 1

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Three Common Mistakes About the Letter of Intent There’s a fine balance to getting your Letter of Intent right when buying a business aircraft. Aircraft broker Jet Tolbert highlights three common mistakes to avoid if buyers want their offers to be taken seriously…

f you’ve been planning to buy an aircraft, seen the right match for your mission need, and are ready to begin the transaction process, you’ll need to prepare a Letter of Intent (LOI).

Typing out a brief letter to the seller before signing the contract and flying your new purchase home sounds straightforward enough, but very little in the aircraft acquisition process is ever quite as simple as it sounds.

There are a few issues that can easily frustrate the process if you don’t understand them fully. Following are three common buyer assumptions and mistakes about the LOI that have caused problems and unnecessary headaches in aircraft transactions in the past.

I

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MISTAKE 1: The Letter of Intent can be used to gauge a seller’s interest and price…

It can be tempting for buyers to test the seller through the LOI, but this approach can have some adverse effects. Firstly, a ‘flakey’ approach to offers and LOIs can frustrate sellers in the market, and you could quickly gain a reputation as being a ‘nonserious’ buyer, which could ultimately cause you to miss out on the ideal aircraft.

Second, you may sign and commit to a deal that you must follow through at greater expense (time and capital) than you anticipated. Worse, you could eventually realize that you’re overpaying for the aircraft, or have chosen the wrong one altogether.

These costly mistakes can be avoided by recognizing the insights and knowledge of a well

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Sky Aviation Holdings February.qxp_Empyrean 20/01/2020 12:11 Page 1

2001 LEAR 60 -230

Airframe TT: 4629.8 Landings: 3655 • Corporate Pedigree Aircraft • Engines on ESP GOLD – Overhauled Less than 140 Hours Ago! • Beautiful Updated Interior • L3 Avanace Wi-Fi • 3 Rotor Brake Mod • LED Cabin Lighting • Turn Key Aircraft Engines ON ESP GOLD 1 2 TSN: 7313.9 7313.9 CSN: 4388 4388 TSOH: 128 128 Avionics CollinsProLine4Flight Control System ADF: Collins ADF-462 Autopilot: Dual Collins FCC-850A Comm’s: Dual Collins VHF-422C w/8.33 Spacing CVR: Universal 30B DME: Dual Collins DME-442 Flight Phone: MagnaStarC-2000 Digital w/Dual Handsets ADS-B WAAS/LPV Additional Equipment • Airshow 400 Cabin Entertainment • 10.4” Cabin Monitor • Collins DAU-650 Data Acquisition Units • J.E.T. 3-inch Standby Altitude Gyro & Power Supply • Exterior Locking Package • Electronically Heated Baggage Interior Delivered withRefreshed Interior 2019 • Executive 8 Passenger FireblockedFloorplan 2 M60-2 • Delivered with Refreshed Cream Leather Seating, New Lower Side Panels, New Carpeting, New Headliner, New Plating, & LED Lighting • High-Gloss BubingaWood Veneer Package Exterior Delivered with Refreshed Paint 2019 • Matterhorn White with Updated Silver & Black Accent Stripes

Sky Aviation Holdings LLC

Pompano Beach Airport, 751 NE 10th Street, Pompano Beach Florida, 33060, United States www.AVBUYER.com

Tel: +1 (754) 800-6310 E-mail: sales@skyaviationholdings.com www.skyaviationholdings.com

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established broker, who's experience of transaction psychology, accounting, mechanics and piloting needs will far outweigh any gained through misusing the LOI. By hiring the right professional, you’ll gain a better understanding of aircraft for sale, and better perspectives of the wider market. The right broker will also highlight the value points that really matter as you make your offer.

MISTAKE 2: Agree the Letter of Intent and sort out the rest later…

Unless you have the operational and financing aspects of your acquisition lined up, you should not submit an LOI. Similarly, if you’re selling an existing aircraft, wait until you have a deal lined up for that before you submit your Letter of Intent for the one you’re buying.

Letters of Intent that are written with a view to sorting financing, or an existing aircraft sale later tend to fall apart later. Other that incurring needless expense (for buyer and seller), the buyer’s reputation within the selling community will be tarnished. In this scenario, future offers from the buyer tend to be downgraded by sellers.

MISTAKE 3: Perfect the Letter of Intent before paying a deposit and signing the contract…

Ultimately, sellers want to see money in escrow and a signed contract. The LOI is usually a ‘placeholder’ and contains language that it is still subject to the final contract.

While buyers need to be clear enough for the 62 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

AVBUYER.com

seller to understand exactly how they want to proceed, they don’t need to get so entrenched in the process that the logistical questions that come into play give the seller a headache. There is a fine line to getting the right balance with your LOI. There are ways to assure the seller that you have all your ducks in a row without entering into a protracted negotiation about the minutiae. And when a seller responds to a LOI, a quick mark-up or response indicating what would be acceptable in general terms is a great way to begin.

Most importantly, get the refundable deposit into escrow and start moving towards the contract.

Closing Thought…

Nearly all aircraft sales will see the LOI leading up to final contract. Get it right, and you set yourself up on the road to success. However, you should start working with your broker long before reaching that stage. ❙ More information from www.americanaircraftsales.com

Jet Tolbert is President of American Aircraft Sales.

Established in 1968, it is a premier brokerage firm which has been a trusted partner since corporations first began utilizing jet aircraft to grow their businesses. With offices in the US, a Latin America sales team and a partner office in Zurich, Switzerland, American Aircraft Sales is an active NBAA, IBAC, EBAA & AsBAA member.

www.AVBUYER.com

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BUYING & SELLING AIRCRAFT

With a focused approach on global excellence and creativity, Andre Fodor has managed flight operations for the U.N. and Flight Options as well as being a senior demonstration pilot and instructor for Embraer Aircraft. He is the Aviation Director for his current employer.

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Tips for Negotiating a Good Aircraft Transaction

y very first job was in door-to-door sales, enabling me to earn money for flying lessons.

During that time, I discovered the complexities of a sale. Buyer and seller each have different expectations and need to find the common ground that delivers a deal both can feel good about.

It became quickly clear that transparency and disclosure are landmarks of a successful business transaction. Delivering quality and value for a fair price builds relationship, generates repeat clients, and creates new business opportunities. What I learned then is true today in the world of aircraft transactions. Anything related to private aviation requires large sums of capital. However, price should never be the sole indicator of a good deal.

The careful selection, negotiation and purchase of a new or pre-owned aircraft will set the standard for a great ownership experience. And a crucial component of any successful transaction is a well-managed pre-buy inspection.

M

Begin With the Logbooks

The pre-buy inspection is at the buyer’s expense, so before taking the airplane to your chosen inspection shop, review the logbooks and records. These will give insight into how the aircraft has been maintained, and by whom.

It will identify issues that could either be a deal breaker or must be corrected before you proceed to invest in the pre-buy inspection.

During a past transaction, I found that several years of record keeping for an FAA-registered aircraft had been documented in a foreign language. Although I had no doubt that all the necessary maintenance had been performed correctly, the records needed to be translated to English (at the seller’s expense) before we could proceed with the transaction.

Hire the Right Expertise

What are the best strategies for negotiating a business aircraft transaction that all parties can feel good about? How should buyers interact with sellers when it comes to final negotiations and closing? Andre Fodor, Aviation Director, Johnsonville shares his thoughts…

www.AVBUYER.com

The importance of having qualified people supporting you cannot be overstated. For example, an experienced broker will help analyze projected operational costs, upcoming maintenance events, future overhauls and required upgrades that will affect the purchase price and residual value of the aircraft.

An experienced mechanic with intimate knowledge of the airframe, meanwhile, will know the critical items to inspect and prevent unexpected and unpleasant surprises.

Establish the Acceptable Expenses

Once you have a solid team around you, what should your expectation be as your aircraft enters the pre-buy inspection? What are acceptable expenses to the seller and/or buyer? The answer can vary...

Not long ago, I managed the sale of a fairly new preowned Large Jet. It only had 800 hours on the clock and was less than five years old. Naturally, I expected a clean bill of health from the pre-buy inspection.

It was a surprise to all of us when the inspector found a manufacturing defect in the inside of the engine’s cowling.

The OEM was required to fix a bad rib installation that had AVBUYER MAGAZINE Vol 24 Issue 2 2020

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never previously been identified, since the airplane was too new to have had its cowlings removed for maintenance or inspection.

While in this case the OEM would clearly be paying for the repair, the transaction stalled for three weeks; the pre-purchase inspection costs increased due to aircraft storage costs; and the airplane was grounded until the problem could be remedied. Mutual cooperation kept the deal together, ultimately.

Things are often not so clear-cut. In the case of another aircraft undergoing a pre-buy inspection, a long discrepancy report resulted. After reading the report, the buyer in their haste to complete the transaction directed the repair facility to correct all discrepancies without sharing the report with the seller or obtaining permission to repair the items.

The buyer neither understood the pre-buy processes nor the language on the Letter of Intent (LOI), and their action yielded a $120k repair bill.

The seller refused to pay since repairs had not been approved. Moreover, most of the items didn’t affect airworthiness. The buyer responded by walking away from the deal. The result was a lien against the aircraft, placed by the maintenance facility, and several years of messy litigation between seller, buyer and service shop.

Beware! A discrepancy list must be shared, and agreed, with the seller. Only the selling party may approve charges related to the aircraft’s repair.

Your expectation of what must be repaired in a discrepancy list may not be the same as the seller’s.

The pre-buy inspection report will list every discrepancy found, not just the ‘must do’ items.

Minor paint touch-up items (for example) will be 66 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

listed individually and, consequently, discrepancy lists can appear lengthy.

Begin by clearing the list of the easy items. Light bulbs, cabin upholstery stains, veneer scratches and paint touch-ups are all low-cost items that, once removed, can shorten a long discrepancy list significantly. This process will help leaving only the bigger items to be discussed during the final contract negotiation.

Once you have the final inspection report, it’s time to review and negotiate. Keep in mind that the pre-buy inspection could find issues that wouldn’t normally be identified during scheduled maintenance, so the seller may be surprised by some of the findings. The LOI should provide the framework for negotiating discrepancies along with an exit strategy if an abnormal issue arises.

Renegotiating Contracts When Necessary

Where necessary, renegotiating a contract to accommodate unexpected findings is fairly common and can benefit both parties. It may result in a reduction to the purchase price; require repairs to be made before the deal closes; or a mix and match of both.

It’s important to be fair, transparent and share your concerns openly. Good will is an important part of this process. Finding common ground between buyer’s and seller’s expectations is the ultimate goal.

Everyone wants a good deal. A successful transaction provides both parties with that satisfaction. This will yield intangible benefits to the buyer relating to the overall ownership experience and will surely be money in the bank. ❙ www.AVBUYER.com

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How to Match a Helicopter to Mission Need

What are some of the basics buyers should consider when narrowing down the choices for the best helicopter to fulfil their mission need? Dave Higdon provides some thoughts… s with fixed-wing aircraft, all helicopters deliver some common capabilities.

However, it's the traits that are distinct to rotorcraft that make them unique tools: The ability to launch and land vertically, to hover, rotate around the axis of the rotor, and use landing spaces barely larger than the length of the fuselage.

Just as with fixed-wing conveyances, however, within the rotorcraft sector you can find models designed around specific mission profiles and specialized to certain mission capabilities, meaning that prospective buyers need to have a firm grasp of the types of rotorcraft that fit their need.

A log-haul utility ship is no more suited for executive transport than one designed for

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helicopter emergency medical service (HEMS) serving as a Part 135 charter aircraft. Although all helicopters can perform some of those missions (at a pinch), there are other, more tailored helicopters that are likely to serve those roles better. So how does one make the most of matching a helicopter to mission need? Read on…

Among the most-useful helicopters found in the fleet are the utility-category ships. Utility helicopters are multi-purpose ships that can perform a variety of different missions. A common trait of most utility helicopters is their ability to carry passengers, lift external loads, and adapt to a variety of roles as diverse as observance of highway traffic and law enforcement.

The utility helicopter may also be capable of

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“One helicopter may be just as suitable for law enforcement as for medical service or executive transport...” performing light firefighting roles, medical airlift services, and more.

An excellent example of a highly specialized utility helicopter comes from Sikorsky in the form of its CH-54 Tarhe, an American twin-engine heavylift helicopter designed for the US Army. The civilian version is nicknamed the ‘SkyCrane’.

Sikorsky SkyCranes made the news in Australia for their use as firefighting ships against the recent onslaught of wildfires. They proved ideal with their ability to lift a firefighting load without landing and dropping it with accuracy in the turbulent, tossed air that accompanies wildfires.

While the SkyCrane is immense, excelling at lifting heavy, odd-shaped loads, it is not what an operator wants or needs to service the HEMS field.

It's What's Inside That Counts

What makes a helicopter ideal for HEMS comes largely down to how the operator chooses to finish its interior. Some helicopter models adapt more readily, thanks to distinct features such as clamshell access doors or side doors capable of accepting an ambulance gurney and the doctors, nurses and emergency medical technicians tending the patients.

The same helicopter that regularly flies HEMS missions may perform equally well as an executive transport, but not with the HEMS interior.

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Ultimately, with multiple interior options available for many helicopters, it's what's inside that counts in matching machine and mission.

One helicopter may be just as suitable for law enforcement as for medical service or executive transport, depending on the interior finish and attached equipment. Other missions may include electronic news-gathering or back-country tours, mountain-top logging or firefighting.

Essentially, for operators considering a helicopter, the first step should be to define and outline a mission profile, then to line up the models that can perform it, and come equipped with a suitable interior.

That interior must be spec'd first to define operating weights and operational limitations within the helicopter's performance capabilities (as outlined in its type certificate).

What number of seats is needed? What’s the required range for the typical mission? What speed is needed? And is a given model of helicopter for sale already approved with any specialized equipment that’s installed?

A helicopter destined for traffic patrol, delivering live reports needs the weight-lifting capability, space and stability to perform an information-gathering role. Operators may logically decide to eschew instrument-flying capabilities – but retain imaging hardware and an enhanced

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303 946-9105 Bloom Business Jets Inc. 2020

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“...a helicopter must be able to fit into the landing sites it is intended to use.” vision system (EVS) to improve situational awareness during night ops.

A helicopter such as the Sikorsky S-92 may earn its stripes flying in military roles, but with the correct interior serve as an executive aircraft on par with the industry's best-selling business aircraft.

That includes allowing the multitude of homeoffice capabilities, including internet and email access.

Meanwhile, the Robinson R66 can deliver lift and travel, and its smaller size and load limits make it an economical machine for owner/pilot travel.

What are the Operational Considerations?

Beyond matching interior to mission, a helicopter must be able to fit into the landing sites it is intended to use.

And the noise levels of the aircraft are becoming more of an issue in a growing number of locations.

The wise operator will seek a helicopter with a noise footprint in line with any limitations in its operating environment.

Seating capacity, speed, range, payload capability and luggage capacity are all details to weigh when shopping for a helicopter for business use.

With all things considered, is a helicopter the best fit for the mission, or would a fixed-wing aircraft be a better fit for routine 350nm trips?

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Much will come down, once more, to the locations that the aircraft needs to regularly access.

Specialization has its Limits

Helicopters stand among aviation's mostspecialized machines, capable of making good time across short-range trips (up to 300 miles), and they are unparalleled for operating in challenging environs.

But while all helicopters can hover, not all are suited for all missions requiring hovering flight. So just as it is with selecting a fixed-wing business aircraft for a company's needs, precisely defining the missions the helicopter will be expected to fly, and selecting the best candidate to fulfill those needs, is the key to having the most satisfactory ownership experience. ❙

Dave Higdon is a highly respected aviation journalist who has covered all aspects of civil aviation over the past 36 years. Based in Wichita, he has several thousand flight hours, and has piloted pretty much everything from foot-launched wings to combat jets.

Contact him via Dave@avbuyer.com

www.AVBUYER.com

Corporate Concepts February.qxp 22/01/2020 09:45 Page 1

Corporate Concepts International, Inc. NEW TO THE MARKET Falcon 900EX

ADS-B for new 2020 requirements installed • Excellent hot/high performance and long range • Uncompromised performance for safe short field operation with three engine safety and reliability • Engines enrolled in in the Honeywell MSP Gold program • Transition to Extended “A” Inspection Program completed in December 2019 • Full details in www.flycci.com

Gulfstream G-V

VVIP Boeing 737-200

Always VVIP – Never an Airliner – Only 7,500 hours • Recent Interior / Exterior Refurbishment with new generation Cabin Management System • High Speed Internet, CPDLC, FANS-1/A, ADS-B, Synthetic Vision and EVS • Stage III compliant JT8D-17 engines • Long Range Fuel – Extensive Spares Pkg. • “C” Check and Landing Gear O/H by Boeing service center – Delivers February 2020 • Video and full details at www.flycci.com

Executive Boeing 737-300

New exterior paint by Duncan – Recent Interior Refurbishment • Enrolled in Corporate Care, CASP and HAPP • FANS-1/A, WAAS/LPV, ADS-B and CPDLC, High Speed Internet by Gulfstream • Forward Galley – Forward and Aft Lavs • Seventeen passenger – Current FAR Pt. 135 • Recent Engine Shop Visits

Priced to Sale – New Aircraft Delivering Soon

Never a commercial airliner – Low total time • Engines overhauled, upgraded for increased power and decreased fuel burn, and enrolled in GE On-Point program • High Speed Internet, FANS-1/A, CPDLC, and ADS-B for 2020 • Recent Major Inspections • 42 passenger VIP interior with Forward Airstair • Long range fuel • Stage III Noise certified • New paint to be completed in 1st Qtr 2020 • See www.flycci.com for details

For Sale, Lease or ACMI Lease Photos and Full Details at www.flycci.com

Dennis Blackburn +1.832.647.7581 blackburn@flycci.com

Chris Zarnik +1.919.264.6212 czarnik@flycci.com

Larry Wright +1.704.906.3755 lwright@flycci.com

Ownership 1.qxp_Finance 21/01/2020 17:16 Page 1

OWNERSHIP

What Does it Cost to Operate an Ultra-Long-Range Jet?

What does it cost to own and operate a business aircraft? Working through the different categories, David Wyndham outlines some of the common characteristics and associated costs in Ultra-Long-Range Jet ownership… here’s no single industry definition for the various business jet categories. Conklin & de Decker considers the cabin size and range. For an Ultra-Long-Range Jet, this means we’ll be discussing aircraft that typically seat 12 or more passengers, have a flat cabin floor, offer galley space for preparing one or more complete hot meals, and provide a generously equipped lavatory area.

Cabin height should allow for most people to stand straight (i.e., approximately 188cm), and range should allow for at least 5,000nm, non-stop.

T

Aircraft falling within this category include: • • • • •

Bombardier Global Express XRS/6000/7500; Dassault Falcon 7X, 8X and future 6X; Gulfstream G550, G650 and G500 series; Airbus ACJ (with long-range fuel tanks); and Boeing BBJ (with long-range fuel tanks).

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How Much Does it Cost to Buy an UltraLong-Range Jet?

Acquisition costs for new Ultra-Long-Range business jets run anywhere from $50m to $72m list price, while the (Airbus and Boeing) VIP airliners can exceed $100m+ for the largest variants featuring opulent interiors that include showers and staterooms.

Pre-owned prices vary significantly, given that many of these models have been in production for several years. For guidance, a first generation 15- to 20-year-old Ultra-Long-Range Jet can be purchased for $8-10m, while the more recent variants cost ~$40m.

Placing a pre-owned aircraft into service is likely to require additional funds. A buyer may elect to spend approximately $2m+ on upgrades, paint and moderate interior refurbishment.

Major maintenance checks may be due soon and must be budgeted for at the time of purchase. If the www.AVBUYER.com

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O

David Wyndham's expertise in cost and performance analyses, fleet planning and life cycle costing are invaluable. He’s formerly an instructor pilot with the US Air Force.

engines are close to overhaul and not on a guaranteed hourly maintenance plan, at least an additional $1m per engine should be budgeted for the overhaul.

What’s the Operating Cost of an Ultra-LongRange Jet?

Operating costs for Ultra-Long-Range Jets depends on the aircraft’s size and age. Following are some approximate averages from the Conklin & de Decker Report to help provide some guidance: Average variable cost per hour: Fuel*: Maintenance: Parts, Labor, Major Maintenance Reserves & Engine Reserves:

$4,800 $2,400 $1,400 $1,000

*Fuel cost depends on fuel price per gallon and fuel burn.

What are the Data Costs of an Ultra-LongRange Jet?

Another variable cost to budget for is Wi-Fi or airborne internet. Ultra-Long-Range Jets fly globally, so maintaining internet connectivity will require a satellite-based system. www.AVBUYER.com

There are different installation and rate plan options designed to fit the needs of both the passengers and pilots. New installations for a satellite system can run anywhere from $650k to $800k.

Monthly rates based on data used and download speeds can start at $50k per month for moderate use. An approximate data estimate is $2k to download a movie in HD or $4k to stream a live sporting event.

What are the Fixed Costs of Ultra-LongRange Jet Ownership?

Fixed costs of Ultra-Long-Range Jet ownership are typically in the region of $2.5m per year, and include: 1) 2) 3) 4) 5)

Salaries Training Hangar Insurance Refurbishment

1) Salaries: The pay for two pilots ranges from $200k to $300k per pilot, depending on job duties and level of experience. For Ultra-Long-Range Jets, a third pilot is often hired to maintain the flight schedule since, given the long range of these aircraft, flights may extend to 14-hours.

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OWNERSHIP

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“The operating budget for 400 annual hours in an Ultra-Long-Range business jet will be approximately $5m per year...”

A trained flight attendant is also a pre-requisite with an average full-time salary in the region of $130k annually.

It’s also wise to employ an aircraft maintenance engineer or maintenance technician at $80k+ per year to take care of much of the routine maintenance, handling maintenance planning and control.

And if the schedule is complex with frequent changes and multiple individuals who can authorize use of the aircraft, a flight scheduler is recommended as well as an administrative person. Their salaries are usually in the region of $60k per year.

In summary, with three pilots, one flight attendant and one maintenance engineer, the annual cost for salaries, benefits and training will likely exceed $1.5m for Ultra-Long-Range Jet ownership.

2) Training: Pilots will need training at least annually, which can cost between $100k and $125k for two crewmembers.

3) Hangar: For hangar rental, Ultra-Long-Range Jet operators should plan on an annual fee between $100k and $120k (for a typical metropolitan area).

High cost areas such as New York City, Hong Kong or Geneva, will be significantly higher.

4) Insurance: It can cost $60k to $80k annually to insure an Ultra-Long-Range Jet, depending on the aircraft’s value and liability limits. If the aircraft spends a lot of time outside of developed countries, those costs may increase substantially.

5) Refurbishment: Paint and interior refurbishment should also be considered. Depending on the level of completion, materials and extra features, you should budget approximately $2-3m for this work on your Ultra-Long-Range Jet. A new interior and paint job may last seven to nine years with excellent care.

Additional costs that can be incurred include acquiring aircraft technical publications for the flight crew and additional maintenance, office and travel expenses.

In Summary

The operating budget for 400 annual hours in an Ultra-Long-Range business jet will be approximately $5m per year, excluding the costs of capital, taxes and depreciation.

Next time we’ll consider the question of what it costs to operate a Medium Jet. Stay tuned…!

More information from www.conklindd.com T

AvBuyer - Read by Flight Departments Throughout the World 76 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

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You could hope that your bank will have the flexibility to finance up to 100% of your new business aircraft – \ Or, you could let us.

To a traditional bank, aircraft financing is generally an exotic side business. To us, it’s our only business. We understand the importance of your aircraft to your productivity, and your business. Which is why we offer the kind of flexibility in financing that allows our customers to take delivery of the aircraft they want—not the one they can get financed. With a finance lease from Global Jet Capital, you’ll have the flexibility to finance up to 100% of your new aircraft—including progress payments. It’s just another example of how our singular focus on aircraft financing offers benefits you won’t find at a bank.

And with more than $2.6 billion in assets, world-class financial backing, hundreds of years of collective experience, and thousands of business aircraft transactions behind us, Global Jet Capital is uniquely positioned to craft customized solutions.

844.436.8200 \ info@globaljetcapital.com \ globaljetcapital.com Miami \ Hong Kong \ Zurich \ New York

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1/17/20 3:52 PM

Finance FEB20.qxp_Finance 21/01/2020 15:36 Page 1

FINANCE Rohit Jaggi holds airplane and helicopter licenses and frequently conducts flight tests of airplanes and helicopters for print and video. He held a number of news editing and reporting posts with the Financial Times before becoming a freelance writer. Find out more via rohitjaggi@gmail.com

How to Choose the Right Aircraft Finance Lender What do business aircraft buyers seeking financing need to ask when searching for the right lender? Rohit Jaggi interviews those in the know for some key tips and pointers…

rave is the aircraft buyer who goes with the first offer of financing that he or she can find. Brave or foolhardy. It’s worth remembering that the borrower and the lender, while they both might want a transaction to work, are not actually on the same team. The borrower wants cheap funds. The lender wants to make a loan with the best return.

The two sides can agree on some things, i.e. that neither want a loan so unfavourable and costly that the buyer defaults (the world of pain that comes from a failed loan is good for nobody). But short of that, the field is open.

Leading aviation lawyer Paul Jebely points out that all lenders are not equal. “Business aircraft financiers look in varying degrees to credit risk, and to asset value and asset preservation – including factors such as jurisdictional and repossession risk,” says Hong Kong-based Jebely (who leads the private wealth and asset finances practices of Pillsbury Winthrop).

The important thing is to choose a lender that is the best match for your individual requirements – not just the first one to agree to lend you the money.

That means first working out exactly how much of

B

78 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

your own cash you want to put down; what aircraft you are looking to buy; what you want to use it for; where you will base it; and how you will maintain it.

Only then can you work out who the right lender is.

Brendan Lodge, UK-based aircraft acquisitions specialist with Jet Support Services Inc, notes, “The lenders have become incredibly faddy in terms of the niches where they want to lend. At the point where liquidity became restricted, the banks became fussier: They were able to lend all the money they could get their hands on, then they became less willing to do the donkey work.”

Where to Begin Your Search for Aircraft Finance

Jebely says a good starting point is a bank you have an existing relationship with. But he adds that the search shouldn’t stop there.

Even if you have the money to pay cash for the business aircraft you want, it may make more sense to finance the aircraft and put the money to use where it will earn a better return. That is especially relevant now, when interest rates are “bumping along the bottom”.

If you’re in the happy position of not needing to www.AVBUYER.com

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borrow, but still want a loan, the options are likely to be much wider. Nevertheless, you should look at other conditions. Some lenders (who may be after your funds much more than wanting to lend to you) could require as much money as the loan to be deposited with them, possibly obviating the reason for taking a loan in the first place.

The size of the loan will also steer you towards, or away from, specific lenders. And you should ask yourself how much transparency and disclosure you’re comfortable with. A complicated trail of ownership will rule out some lenders.

“Line of sight to the ultimate beneficial owner, and transparency around the identities and source of wealth of all obligors, is absolutely critical,” says Gary Crichlow, director of London-based finance brokerage and advisory firm Arc & Co. “Clients with ties to certain jurisdictions – nationality, residence, assets – can be more challenging, but financiers are a global community, and appetite varies.”

How and Where Will the Aircraft be Used/Based?

The planned use of the aircraft is also key. Some lenders are more comfortable about the regulatory www.AVBUYER.com

environment for only partly chartered aircraft, for example. It’s important to find a lender that understands what you want to do with the airplane.

And the use of the machine may determine where it’s based, and on which register it’s placed.

But, again, make sure your lender understands the specific rules of the Lithuanian register (for example) or the Isle of Man register. Any lender who knows what they are doing should be able to work out for themselves that lenders, borrowers and aircraft need to be a good fit in this respect.

But it is more important to you, so don’t scrimp on that research.

“All of the domestic lenders are comfortable with the IoM register,” notes Lodge. “The issue with less well-known registers is that the bank may not have any experience of that register. In order to structure a loan or a mortgage it may first have to seek legal advice, taking time and money. So it makes sense to research which lenders are already comfortable with that register.”

Aoife O’Sullivan, partner with The Air Law Firm, says the main consideration is flexibility to choose the regulatory regime that best fits the intended use and operation of the aircraft.

F

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“For example, aircraft flown commercially or on charter must be placed on the same register (with some exceptions) as the aviation authority of the chosen operator or AOC holder,” she outlines.

“Aircraft flown privately are not as restricted in choice.”

“Small deals can work particularly well when the client, the aircraft and the financier are all based and registered in the same jurisdiction,” Crichlow highlights. “The ultimate beneficial owner's identity and finances are straightforward, and the financier has a standard suite of contractual documents that the client is happy to sign up to with a minimum of negotiation.”

Jurisdiction is also important for lenders to make sure they can collect on their loan if it all goes wrong. Your reasons for choosing the jurisdiction probably won’t include the lender’s ease or difficulty in reclaiming their security – but where the deal is based will be a factor in who you can approach for a loan.

How Will the Aircraft be Maintained?

Maintenance is another issue – some lenders want all-singing, totally comprehensive service

contracts that could be financial overkill for your intended use of the aircraft.

That’s another good question to ask before going far down the road with any particular lender. As Crichlow says, “A low-rate financing offer that demands a high-cost operation may not always be the optimal overall deal.”

Help is at Hand…

All these factors add up to the need to do a lot of homework on how you want the loan to look, and who would fit your bill to provide it. But there is help at hand: Lodge points out that a good broker is worth his or her weight in aircraftgrade titanium here.

“If you can find a broker who knows which bank to go to for the particular type of borrower you are, and can then polish the proposal so that the bank doesn’t have to do much work,” he concludes, “that is the best way of improving your chance of getting the right kind of loan, with the right kind of structure, from the right lender.”

It may not be your first choice, or even your first offer – but this way there’s at least a chance that everyone can win. T

“...choose a lender that is the best match for your individual requirements – not just the first one to agree to lend you the money.”

Understanding Business Aviation Financing - with AvBuyer 80 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

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AirCompAnalysisFEB20.qxp_ACAn 22/01/2020 15:59 Page 1

JET COMPARISON

EMBRAER PRAETOR 600

Jet Comparison: Embraer Praetor 600 vs Bombardier Challenger 350 How do Embraer’s newly certified Praetor 600 and Bombardier’s Challenger 350 compare? What are the advantages offered by each model? Mike Chase analyses the performance of these two Super Mid-size Jet competitors. ver the following paragraphs we’ll consider key productivity parameters for the Embraer Praetor 600 and Bombardier Challenger 350 (including payload, range, speed and cabin size), to establish which provides the better value in the Super Midsize Jet market.

O

Embraer Praetor 600

Through its Praetor 500 and 600 models, Embraer introduced improved variants of its Legacy 450 and 500 models, respectively, at the October 2018 NBAA convention in Orlando. The Praetor 600 was subsequently certified by the FAA and EASA in May 2019.

The $20.995m Praetor 600 is based on the Legacy 500, but with two tanks on the fuselage belly (allowing for 2,928lbs more fuel), and more powerful 7,528lbst Honeywell HTF7500E engines. The first delivery took place in June 2019.

82 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

With deliveries of the Praetor 600 starting in H2 2019 and there were 11 wholly owned aircraft in operation at the time of writing. During NBAA-BACE 2019, Embraer received a $1.4 billion order from Flexjet LLC that included several Praetor jets.

Bombardier Challenger 350

Launched in May 2013, meanwhile, the Bombardier Challenger 350 is an upgrade of the Challenger 300, offering new engines and winglets, a different interior, and new avionics.

To date, a total of 325 Challenger 350s had been built, with 320 in operation worldwide. Most (215) are wholly owned.

However, this aircraft is popular with Fractional Ownership providers, too, with 101 fractionally owned. One has been retired.

Of the Challenger 350s in operation today, North America www.AVBUYER.com

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EMBRAER

BOMBARDIER

vs.

Challenger 350

Praetor 600

(Manufactured between 2014-Present)

(Manufactured between 2019-Present)

$20 Million

$20.995 Million

(2019 Model)

(2019 Model)

HOW MANY

EXECUTIVE

9

8

SEATS

WHICH OF THESE MID-SIZED JETS WILL COME OUT ON TOP HOW FAR

PAYLOAD

CAN WE GO?

CAN WE TAKE?

(Nautical Miles. 4 Pax/avail Fuel) Embraer Praetor 600 Bombardier Challenger 350

WHAT’S THE

HOW MUCH

4,018 3,250

(Lbs)

Embraer Praetor 600 Bombardier Challenger 350

4,002 3,400

HOW MANY

HOW MANY

OPERATION?

EACH MONTH?

UNITS IN

NEW/USED SOLD

11 2 (0%)

320

(% = Global Fleet For Sale)

www.AVBUYER.com

CRUISING SPEED?

(Knots) 433

Embraer Praetor 600

459

Bombardier Challenger 350

WHAT’S THE

COST PER HOUR?

5 (4.1%)

12-Month Average Figure Sources used: Conklin & de Decker, JETNET, B&CA, Vref and Chase & Associates.

LONG RANGE

Embraer Praetor 600

$3,249

Bombardier Challenger 350

$3,801

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JET COMPARISON

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Table A - Payload & Range Comparison

has the largest fleet percentage (73%) followed by Europe (19%), accounting for 92% of the world’s fleet.

Payload & Range Comparison

Embraer Praetor 600 Bombardier Challenger 350

42,857 40,600

16,138 14,045

MTOW (lb)

Max Fuel (lb)

4,002

3,400

Max Payload (lb)

2,194

1,905

Avail Payload w/Max Fuel (lb)

Source: OEMs, B&CA

3,277

2,719

Max Payload w/Avail Fuel IFR Range (nm)

1,312 1,334 1,334

Chart A - Cabin Comparison Embraer Praetor 600

J

Bombardier Challenger 350

An important area for potential operators to focus on is payload capability, and especially ‘Available Payload with Maximum Fuel’.

Table A (left) shows the Embraer Praetor 600’s Available Payload with Maximum Fuel to be 2,194lbs., which is greater than the 1,905lbs. offered by the Bombardier Challenger 350.

Cabin Cross-Section Comparison

Chart A (left) depicts the cabin crosssections of the Praetor 600 and Challenger 350. As shown, the two business jets share the same cabin height (6ft) but the Praetor 600 has less cabin width (6.8ft) than the Challenger 350 (7.2ft).

The Challenger 350 also has a greater cabin length (25.2ft) than the Praetor 600 (24.1ft). Overall, Bombardier’s Challenger 350 provides more cabin volume (1,024cu.ft.) compared to Praetor 600 (840cu.ft.).

In terms of baggage room, while the Praetor 500 provides less than half the internal luggage volume of the Challenger 350 (45cu.ft. versus 106cu.ft.), according to Conklin & de Decker the Praetor 600 has 110cu.ft. external baggage space while the Challenger 350 offers none.

Range Comparison

Source: UPCAST JETBOOK

Chart B - Range Comparison Praetor 600 Challenger 350

4,018 (nm) 3,250 (nm)

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

As depicted in Chart B (left), using Melbourne, Florida as the start point the Praetor 600 offers greater range coverage (4,018nm) than the Challenger 350 at 3,250nm, both with four passengers and available fuel.

Note: For business jets, ‘Four Pax Range’ represents the maximum IFR range of the aircraft at long range cruise. NBAA IFR fuel reserve calculation is for a 200nm alternate.

This range does not include winds aloft or any other weather-related obstacles.

Powerplant Details

Two HTF7500E engines power the Praetor 600, each providing 7,528lbst while burning 258 gallons per hour (GPH). By comparison, the Challenger 350 is powered by a pair of HTF7350 engines, each offering 7,323lbst and burning 255 gallons per hour (GPH).

Total Variable Cost Comparison

Source: Chase & Associates

84 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

The ‘Total Variable Cost’, illustrated in Chart C (overleaf), is defined as the estimated cost of fuel expense, maintenance labor expense, scheduled parts expense, and miscellaneous trip expense (hangar, crew and catering).

These costs do not represent a direct



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Leading Edge 8 to view February.qxp_Layout 1 20/01/2020 12:38 Page 1

2009 Gulfstream G550 s/n 5220

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2005 Citation CJ2 s/n 525A-0242

FANS 1/A+ w/ ADS-C & PM-CPDLC, U.S. Registered, Engines on P&WC PurePower Premium, APU on MSP Gold

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Two U.S. Owners Since New, Nice Pain & Interior w/ 10 Pax Seating, Excellent Maintenance History

Collins ProLine 21 Avionics Suite, ADS-B Out w/ WAAS/LPV, Aircell ATG-5000 WiFi, Winglets

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1996 Falcon 900B s/n 160

13 Passenger Fireblocked Interior, Engines On Condition and on RRCC, APU on MSP, ADS-B Out v2 and TCAS 7.1

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AirCompAnalysisFEB20.qxp_ACAn 22/01/2020 14:33 Page 4

JET COMPARISON

Chart C – Variable Cost Comparison

Praetor 600

source into every flight department and their trip support expenses. Therefore, for comparative purposes the costs presented are the relative differences, not the actual differences since these may vary from flight department to flight department in actual operations.

Embraer’s Praetor 600 shows a lower variable cost at $3,249/hour compared to the Bombardier Challenger 350’s $3,801/hour; a difference of $552 (14.5%).

$3,249 $3,801

Challenger 350 $0

$1,000

$2,000

$3,000

$4,000

Aircraft Comparison Table

Table B (left) contains the new prices (per Vref) for a 2019 model Embraer Praetor 600 and Bombardier Challenger 350. The long range cruise speed and range numbers are from B&CA; the cabin volumes are from each OEM; and the number of aircraft in operation, the percentage for sale, and average sold are from JETNET. The Praetor 600 had no aircraft for sale on the used aircraft market while 4.1% of the Challenger 350 fleet was for sale at the time of writing. Since first delivery (six months ago), the average number of new and used Praetor 600 transactions (units sold) per month averages two, while the Challenger 350 averages five sales per month across the previous 12 months.

US $ per hour

Table B - Market Comparison

Embraer Praetor 600 Bombardier Challenger 350

Depreciation Schedule 433

459

Long Range Cruise Speed (Kts)

840

1,024

Cabin Volume Cu Ft

4,018 3,250

$20.995 $20.000

4 Pax w/Avail Fuel IFR Range (nm)

New 2019 Vref Price $USm

11

0%

320

4.1%

% For Sale

In Operation

5

2

Average Sold per Month*

*Average Full Sale Transactions in the past 6 and 12 months, per Dec 2019; Source: JETNET Data courtesy of BC&A; Vref; JETNET

Table C - Part 91 & 135 MACRS Schedule

MACRS Schedule for PART 91 Year Deduction

1

2

3

4

5

6

20.0%

32.0%

19.20%

11.52%

11.52%

5.76%

MACRS Schedule for PART 135 Year Deduction

1

2

3

4

5

6

7

8

14.29%

24.49%

17.49%

12.49%

8.93%

8.92%

8.93%

4.46%

Source: NBAA

86 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

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 (see Table C, left).

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

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MACRS over a period of five years or by using ADS with a six-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 new Act, taxpayers may be able to deduct up to 100% of the cost of a new or pre-owned aircraft purchased after September 27, 2017 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 D (right) depicts an example of using the MACRS schedule for a 2019-model Praetor 600 in private (Part 91) and charter (Part 135) operations over five- and sevenyear periods.

Table E (right) depicts an example of using the MACRS schedule for a 2019-model Bombardier Challenger 350 in private (Part 91) and charter (Part 135) operations over five- and seven-year periods.

Table D: Embraer Praetor 600 MACRS Depreciation Schedule 2019 Embraer Praetor 600 - Private (Part 91) Full Retail Price - Million $20.995 Year

1

Rate (%)

20.0%

Depreciation ($M)

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

$4.199

3

19.2%

5

4

11.5%

11.5%

6

5.8%

$6.718

$4.031

$2.419

$2.419

$1.209

$10.917

$14.948

$17.367

$19.786

$20.995

$10.078

$6.047

$1.209

$3.628

$0.000

Full Retail Price - Million $20.995 1

Year

14.3%

Rate (%)

Depreciation ($M)

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

$3.000

$17.995 $3.000

2

24.5%

3

17.5%

5

4

8.9%

12.5%

6

8.9%

7

8.9%

8

4.5%

$5.142

$3.672

$2.622

$1.875

$1.875

$1.875

$0.936

$8.142

$11.814

$14.436

$16.311

$18.184

$20.059

$20.995

$12.853

$9.181

$4.684

$6.559

$2.811

$0.936

$0.000

Source: Vref

Table E: Bombardier Challenger 350 MACRS Depreciation Schedule 2019 Bombardier Challenger 350 - Private (Part 91) Full Retail Price - Million $20.0 1

20.0%

Rate (%)

As mentioned, in December 2019, no Praetor 600 business jets were available on the used aircraft market. By comparison, 13 Challenger 350s were for sale with six showing asking prices that ranged from $13.75m to $17.7m. The other seven invited offers/inquiries.

While each serial number is unique, the Airframe Total Time (AFTT) and age/condition of an aircraft 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.

$4.199

$16.796

2

32.0%

2019 Embraer Praetor 600 - Charter (Part 135)

Year

Asking Prices & Quantity

J

Depreciation ($M)

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

2

32.0%

3

19.2%

5

4

11.5%

11.5%

6

5.8%

$4.000

$6.400

$3.840

$2.304

$2.304

$1.152

$4.000

$10.400

$14.240

$16.544

$18.848

$20.000

$16.000

$9.600

$5.760

$1.152

$3.456

$0.000

2019 Bombardier Challenger 350 - Charter (Part 135) Full Retail Price - Million $20.0 Year

Rate (%)

Depreciation ($M)

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

1

14.3%

$2.858

$17.142 $2.858

2

24.5%

3

17.5%

4

12.5%

5

8.9%

6

8.9%

7

8.9%

8

4.5%

$4.898

$3.498

$2.498

$1.786

$1.784

$1.786

$0.892

$7.756

$11.254

$13.752

$15.538

$17.322

$19.108

$20.000

$12.244

$8.746

$6.248

$4.462

$2.678

$0.892

$0.000

Source: Vref

Bombardier Challenger 350

Productivity Comparisons

The points in Chart D (overleaf) are centered on the Embraer Praetor 600 and Bombardier Challenger 350. Pricing used in the vertical axis is as published in the Vref Pricing Guide.

The productivity index requires further discussion in that the factors used can be somewhat arbitrary. Productivity can be defined (and it is here) as the multiple of three factors: 1. Four Passenger Range (nm) with available fuel; 2. The long-range cruise speed flown to achieve that range;

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87

8

AirCompAnalysisFEB20.qxp_ACAn 22/01/2020 16:00 Page 6

JET COMPARISON

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PRAETOR 600 CABIN CONCEPT

In Summary

Within the preceding paragraphs we have touched upon several of the attributes that business jet operators value. There are other qualities such as airport performance, terminal area performance and time-to-climb that might factor in a buying decision, however.

Operators should weigh up their mission requirements precisely when picking which option is the best for them. Ultimately, there is plenty for a prospective buyer to consider when deciding which aircraft, and which performance criteria, is better suited to them.

The Praetor 600 is new to the market and offers best-in-class range and lower hourly operating costs compared to its competitors. T

88 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

Chart D - Productivity Comparison $30.0

Price (Millions)

3. 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.

As of December 2019, a new Praetor 600 was purchased at a higher price ($20.995m) than a new Challenger 350 ($20m). However, the Praetor 600 exhibits lower hourly variable operating costs with significantly more range and a higher Available Payload with Full Fuel.

Nevertheless, the Challenger 350 offers a greater cabin volume, and a higher cruise speed (459kts vs 433kts).

$25.0

Praetor 600

$20.0 Challenger 350

$15.0 $10.0 $0.0

0.500

1.000

1.500

2.000

2.500

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

Mike Chase’s analytical and consultancy services are highly valued within the Business Aviation industry.

He is founder and president of Chase & Associates, and works closely with several respected sources to compile his unique Aircraft Comparative Analysis features. Contact Mike via mike@avbuyer.com

Compare, Contrast, Decide with AvBuyer

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Values Intro Feb19.qxp_Finance 21/01/2020 15:51 Page 1

VALUES - MEDIUM JETS

AVBUYER.com

Business Aircraft Values: Medium Jets Of all the business jet

categories, none does more to balance

capability with utility

than the Medium Jet segment; and no

segment provides

more options, either. or the purpose of our Retail Price Guide, Medium Jets are loosely defined as aircraft with a Maximum Take-Off Weight between 20,001-40,000 lbs. There’s no disputing the advantages of space as you step into a Medium Jet cabin, particularly when applied to longer trips. That is ultimately where the Medium Jets’ basic advantage comes into play over the Light Jet segment.

Medium Jets tend to cruise towards the upperend of the private jet speed range (between Mach 0.78 and Mach 0.85). While on average faster than the Light Jet, a Medium Jet’s superior speed generally provides only a few minutes of gain on the typical Business Aviation trip of 350 to 500 miles, but the difference will become noticeable on longer legs exceeding 1,000 miles.

In terms of range, the average Medium Jet can reach most of the US non-stop from almost anywhere else within the US, making them excellent candidates for the operator with regular transcontinental travel needs. That range capability also gives the crew the flexibility to string together a sequence of stops that total the same distance – making it possible for a Medium Jet to cover multiple locations and still get home at the days’ end, without buying fuel along the way.

Runway requirements for Medium Jets are generally longer than the average length needed by a Light Jet – but nevertheless Medium Jets can still access a significant percentage of the secondary airports serving most of the 150 largest metropolitan areas in the US.

F

90 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

Indeed, Medium Jets generally can match their Large Cabin kin in terms of speed and, to a point, their range, while providing reasonable office amenities that are competitive with most larger aircraft. With all of the above considered, it is little wonder that the Medium Jet segment is the biggest selling, deepest segment across the business aircraft market.

Medium Cabin Jet Price Guide

The following Medium jets’ Average Retail Price Guide represents current values published in the Aircraft Bluebook–Price Digest. The study spans model years from 2000 through Winter 2019. Each reporting point represents the current average retail value published in the Aircraft Bluebook by its corresponding calendar year.

For example, the Gulfstream G280 values reported in the Winter 2019 edition of the Bluebook show $12.0m for a 2013 model, $11.0m for a 2012 model and so forth. Aircraft are listed alphabetically. With the reader’s knowledge of aircraft, equipment, range and performance, the following Guide allows the reader to determine the best value aircraft for consideration.

Note: We have included 29 aircraft models in the following Medium Jets average price guide, and for additional assistance, Conklin & de Decker’s Performance and Specifications data for these models can be referred to, beginning on page 94.

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VALUES - MEDIUM CABIN JETS

Medium Cabin Jets: Average Retail Price Guide 2019 US$M

2018 US$M

2017 US$M

2016 US$M

2015 US$M

2014 US$M

2013 US$M

2012 US$M

2011 US$M

11.0

10.5

10.0

9.5

4.0

3.8

3.4

3.2

4.3

4.0

3.6

3.2

2.9

2.6

8.8

7.8

6.8

8.0

7.6

7.2

6.8

6.6

6.1

5.8

5.6

6.0

5.6

5.8

5.3

4.8

HAWKER 4000

3.8

3.6

3.4

HAWKER 900XP

5.1

4.6

4.1

3.1

2.6

MODEL YEAR $

2010 US$M

MODEL BOMBARDIER CHALLENGER 300

12.0

BOMBARDIER LEARJET 60XR BOMBARDIER LEARJET 60SE BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR BOMBARDIER LEARJET 40

CESSNA CITATION X+ 750

15.0

14.0

13.0

12.0

11.0

CESSNA CITATION X 750 CESSNA CITATION V11 650 CESSNA CITATION LATITUDE 680A

15.5

13.5

11.5

10.5

10.0

CESSNA CITATION SOVEREIGN+680

16.0

14.0

12.0

11.0

10.0

9.5

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+560

12.5

9.5

8.5

8.0

7.5

7.0

20.0

17.0

16.0

15.0

14.0

13.0

9.0

CESSNA CITATION XLS 560 CESSNA CITATION EXCEL 560

DASSAULT FALCON 2000 DASSAULT FALCON 50EX

GULFSTREAM G280

12.0

11.0

GULFSTREAM G200 GULFSTREAM G150

7.8

7.3

6.8

6.3

GULFSTREAM G100 GULFSTREAM/ ASTRA 1125 SPX

HAWKER 850XP PRO LINE HAWKER 800XP HAWKER 750

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

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What your money buys today

Winter 2019 2009 US$M

2008 US$M

2007 US$M

2006 US$M

2005 US$M

2004 US$M

9.0

8.5

7.9

7.5

6.9

6.7

3.0

2.7

2.5 2.5

2003 US$M

2.4

3.2

2.2

2001 US$M

2000 US$M

6.4

MODEL YEAR $ MODEL BOMBARDIER CHALLENGER 300 BOMBARDIER LEARJET 60XR

2.3

2.2

2.1

BOMBARDIER LEARJET 60SE 2.0

3.4

2002 US$M

3.0

2.9

2.6

2.6

2.4

2.1

2.0

1.8

1.4

1.7

1.5

1.3

2.5 1.9

1.9

1.7

1.6

2.3 1.7

BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR

1.6

1.5

1.4

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

1.2

BOMBARDIER LEARJET 40

CESSNA NEW CITATION X+750 5.8

5.0

4.4

3.8

3.6

3.4

3.2

3.0

2.8

2.6

CESSNA CITATION X 750

1.8

CESSNA CITATION V11 650 CESSNA CITATION LATITUDE 680A CESSNA CITATION SOVEREIGN+680

6.5

6.2

5.4

5.3

4.8

4.7

5.9

5.5

5.1

4.8

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+560

4.2

4.0

3.8

3.6

CESSNA CITATION XLS 560

3.1

2.9

2.8

2.7

2.5

CESSNA CITATION EXCEL 560

7.3

6.8

6.2

5.7

5.0

4.7

4.3

3.5

DASSAULT FALCON 2000

4.7

4.5

4.3

4.1

3.8

3.4

3.0

2.7

DASSAULT FALCON 50EX

GULFSTREAM G280 5.2

4.8

4.4

4.0

4.3

3.8

3.3

2.8 2.6

3.8

3.5

3.0

2.8

2.6

2.4

GULFSTREAM G200 GULFSTREAM G150

2.5

2.3

2.2

2.0

1.8 1.8

GULFSTREAM G100 1.7

GULFSTREAM/ ASTRA125 SPX

3.0

2.8

HAWKER 4000

3.7

3.3

HAWKER 900XP

3.2

2.9

2.6

2.3

HAWKER 850XP PRO LINE 2.0

2.2

1.9

1.9

1.8

1.7

1.6

1.5

HAWKER 800XP HAWKER 750

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

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193

ACSpecs Intro.qxp_AC Specs Intronov06 21/01/2020 17:13 Page 1

SPECIFICATIONS - MEDIUM JETS

Aircraft Performance & Specifications Medium Jets

T

he AvBuyer Magazine Guide to Aircraft Performance and Technical Specification Data is updated by Conklin & de Decker on a regular basis. The Guide is much more comprehensive and informative, providing more aircraft types and models and including variable cost numbers for all models.

This month’s category of aircraft - Medium Jets – appears opposite, to be followed by Light Jets next month.

Please note that this data should be used as a guide only, and not as the basis on which buying decisions are taken. The data presents aircraft aged below 20 years of age only, but Conklin & de Decker provides details of older airplanes too.

If there are any other ways in which we can improve the content or presentation of this information, please let us know.

Tel: +44 (0) 208 255 4000; Email: editorial@avbuyer.com © 2020 Conklin & de Decker Associates, Inc., P.O. Box 1142, Orleans, Massachusetts, 02653, Tel. 508-255-5975, www.conklindd.com

Description of Cost Elements

The following describes the content of each cost element used in The Aircraft Cost Evaluator.

There are no sales taxes included in these costs.

SPECIFICATIONS - GENERAL

Cabin Dimensions: Cabin Height, Width, and Length are based on a completed interior. On “cabin-class” aircraft, the length is measured from the cockpit divider to the aft pressure bulkhead (or aft cabin bulkhead if unpressurized). For small cabin aircraft, the distance is from the cockpit firewall to the aft bulkhead. Height and width are the maximum within that cabin space. Cabin Volume is the interior volume, with headliner in place, without chairs or other furnishings.

•

Maximum Payload is the maximum zero fuel weight minus the basic operating weight.

Performance Range: • Ferry Range - is the maximum IFR range of the aircraft with the maximum fuel on board and no passenger seats occupied. This uses the NBAA IFR alternate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft.

Seats Executive: This is the typical crew and passenger seating commonly used on the aircraft. This is not the maximum certificated seats of the aircraft. These numbers may vary for different operations (Corporate, Commercial, EMS, etc.).

Cruise Speed: (Knots True Air Speed - KTAS) Max Cruise Speed - is the maximum cruise speed at maximum continuous power. This may also be commonly referred to as High Speed Cruise.

Weights: • Maximum Take-Off Weight is specified during aircraft certification.

Engines: The number of engines, manufacturer and model are shown.

94 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

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Specifications.qxp_PerfspecDecember06 21/01/2020 15:55 Page 1

2050

447

2

TFE 731-5BR

BEECHCRAFT HAWKER 800XP

5.75

6

21.3

551

8

28000

2050

2470

449

2

TFE 731-5BR

BEECHCRAFT HAWKER 800XPi

5.75

6

21.3

551

8

28000

2050

2470

449

2

TFE 731-5BR

BEECHCRAFT HAWKER 800XPR

5.75

6

21.3

551

8

28000

1950

2733

452

2

TFE 731-50R

BEECHCRAFT HAWKER 850XP

5.75

6

21.3

551

8

28000

2120

2525

452

2

TFE 731-5BR

BEECHCRAFT HAWKER 900XP

5.75

6

21.3

551

8

28000

1950

2733

452

2

TFE 731-50R

BEECHCRAFT HAWKER 4000

6

6.46

25

746

8

39500

2300

3100

489

2

PW308A

BOMBARDIER LEARJET 40

4.92

5.12

17.67

369

6

20350

2282

1573

465

2

TFE 731-20AR

BOMBARDIER LEARJET 40XR

4.92

5.12

17.67

369

6

21000

2051

1778

465

2

TFE 731-20BR

BOMBARDIER LEARJET 45

4.92

5.12

19.75

415

8

20500

2110

1423

465

2

TFE 731-20AR

BOMBARDIER LEARJET 45XR

4.92

5.12

19.75

415

8

21500

1875

1685

465

2

TFE 731-20BR

BOMBARDIER LEARJET 60

5.71

5.92

17.67

447

7

23500

2228

2186

465

2

PW305A

BOMBARDIER LEARJET 60XR

5.71

5.92

17.67

447

7

23500

2104

2044

465

2

PW305A

BOMBARDIER LEARJET 70

4.92

5.12

17.67

369

6

21500

2285

1849

465

2

TFE 731-40BR

BOMBARDIER LEARJET 75

4.92

5.12

19.75

415

8

21500

2110

1805

465

2

TFE 731-40BR

BOMBARDIER CHALLENGER 300

6.08

7.17

23.7

930

8

38850

3350

3065

470

2

HTF7000

BOMBARDIER CHALLENGER 350

6.08

7.17

23.7

930

8

40600

3400

3277

470

2

HTF7350

ENGINE MODEL

2200

NUMBER OF ENGINES

27000

MAX SPEED (ktas)

8

FERRY RANGE-nm (NBAA IFR FUEL RESERVES)

551

MAX PAYLOAD (lbs)

21.3

MAX TAKEOFF (lbs)

6

PASS SEATS TYPICAL

CABIN VOLUME (Cuft)

5.75

CABIN WIDTH (ft)

BEECHCRAFT HAWKER 750

CABIN HEIGHT (ft)

CABIN LENGTH (ft)

AVBUYER.com



Airplane performance and specification numbers can vary depending on how they are measured. Please note this data should be used as a guide only, and not the basis on which buying decisions are taken.

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Specifications.qxp_PerfspecDecember06 21/01/2020 15:55 Page 2

NUMBER OF ENGINES

422

7

23000

2250

1693

452

2

CESSNA CITATION EXCEL

5.7

5.5

18.5

422

7

20000

2500

1449

433

2

PW545A

CESSNA CITATION XLS

5.7

5.5

18.5

422

8

20200

2300

1539

433

2

PW545B

CESSNA CITATION XLS+

5.7

5.5

18.5

422

8

20200

2300

1528

440

2

PW545C

CESSNA CITATION SOVEREIGN

5.7

5.5

25.25

571

9

30300

2650

2620

459

2

PW306C

CESSNA CITATION SOVEREIGN+

5.7

5.5

25.25

585

9

30755

2490

2773

459

2

PW306D

CESSNA CITATION X

5.7

5.5

23.92

538

8

36100

2375

2890

525

2

AE 3007C1

CESSNA CITATION X+

5.7

5.5

25.2

593

8

36600

2514

3229

527

2

AE 3007C2

6

6.42

21.08

587

9

30800

2544

2455

429

2

PW306D

DASSAULT FALCON 50EX

5.9

6.1

23.5

569

9

39700

3320

3223

480

3

TFE 731-40

DASSAULT FALCON 2000

6.2

7.7

31.2

1028

10

35800

5910

2841

475

2

CFE 738-1-1B

EMBRAER LEGACY 450

6

6.83

24

705

7

35758

2754

2498

468

2

HTF7500E

EMBRAER LEGACY 500

6

6.83

27.5

823

8

38360

2650

2762

472

2

HTF7500E

GULFSTREAM G100

5.6

4.75

17.1

304

7

24650

2635

2550

474

2

TFE 731-40R

GULFSTREAM G150

5.75

5.75

17.7

521

7

26100

2400

2760

470

2

TFE 731-40AR

GULFSTREAM G200

6.25

7.2

24.5

869

8

35450

4050

3130

470

2

PW306A

GULFSTREAM G280

6.25

7.2

32.25

888

8

39600

4050

3590

482

2

HTF7250G

CESSNA CITATION LATITUDE

ENGINE MODEL

MAX SPEED (ktas)

18.4

FERRY RANGE-nm

PASS SEATS TYPICAL

5.5

(NBAA IFR FUEL RESERVES)

CABIN VOLUME (Cuft)

5.7

MAX PAYLOAD (lbs)

CABIN LENGTH (ft)

CESSNA CITATION VII

MAX TAKEOFF (lbs)

CABIN WIDTH (ft)

AVBUYER.com

CABIN HEIGHT (ft)

SPECIFICATIONS - MEDIUM JETS

TFE 731-4R-2

Airplane performance and specification numbers can vary depending on how they are measured. Please note this data should be used as a guide only, and not the basis on which buying decisions are taken.

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T

Aradian December.qxp 20/11/2019 09:37 Page 1

File photo

Gulfstream 450

Gulfstream 550

Several aircraft available

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2011 Premier 1A

2011 Hawker 900XP

1,415 hours. TAP Advantage Elite. Recent A and B check

1,450 hours. MSP Gold

Gulfstream GIV SP

Gulfstream GV

Several aircraft available

Several aircraft available

2010 Bell 412EP

2005 Airbus EC120B

1996 hours. VVIP interior. Air conditioning.

Aux fuel

1490TT. Recent paint and interior. Air conditioning. Engine particle filter

ALSO OFFERING: Beech King Air C90GTi, B200, 350. Hawker 800XP, 900XP. Bell 412EP Call/Email For Details

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AVIONICS

What Should You Know About Aircraft Tracking Systems?

98 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

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Avionics.qxp_Finance 22/01/2020 09:37 Page 2

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A

Mario Pierobon is a safety management consultant and content producer. He currently is working on a research project investigating aircraft ground handling safety. Contact him via mariopierobon@az-all-in-one.com

What are ICAO’s regulations about aircraft tracking systems, what should trans-oceanic business jet operators take note of, and what solutions are available on today’s market? Mario Pierobon speaks with a selection of experts from the industry… n recent years, tracking systems have been mandated for larger aircraft.

Currently the International Civil Aviation Organization (ICAO) mandate applies to all aircraft categories defined in the Global Aeronautical Distress and Safety System (GADSS) concept of operations (i.e., those with an MTOW >27 tons or more than 19 passenger seats).

There are, in fact, two mandates that fall under GADSS:

I

• •

For normal aircraft tracking, requiring 15-minute position updates at all times.

For autonomous distress tracking (ADT), requiring one-minute position updates when the aircraft is in distress.

“The latter is nominally targeted for 1st January 2021 but is expected for 2023”, clarifies Mark Duell, vice president, FlightAware. “For Business Aviation, the mandates only apply to those doing charter operations, not those flying in-house for a company, individual or family.

“Although there is no mandate for noncharter operators to have aircraft tracking, we strongly recommend it across the board.”

Aircraft Tracking: What Does ICAO Recommend?

For Business Aviation ICAO recommends application of the GADSS requirements too.

This is not mandatory, however. “It is the responsibility of the local authorities to request the full application of GADSS for business aircraft operations”, notes Christian Belleux, aviation product line director at Orolia.

“As far as equipment goes, a modification of the avionics suite is required for aircraft tracking – for example, adding the autonomous distress tracking (ADT) function which is an algorithm, as www.AVBUYER.com

well as a new generation of emergency locator transmitters (ELT-DT), transmitting the position of the aircraft in distress during the last phase of the flight.”

Currently, other than ADS-B in the US and FANS-1A in the North Atlantic Track System (NATS), there are no mandates for aircraft tracking systems for business aircraft.

“Aircraft position is currently being tracked over land through ADS-B Out on aircraft equipped with this technology,” Steve Elofson, senior avionics sales, Duncan Aviation, says.

“ADS-B is currently mandated in the US and is soon to be mandated in Europe and other areas of the world. Aircraft tracking over oceanic areas is currently available through FANS-1A satellite data link systems.

“FANS-1A capability is currently required for business aircraft operating in the NATS,” he continues. “It’s likely that in the future aircraft tracking systems for business aircraft will be encouraged through operational benefits such as preferred routing in other remote oceanic areas of the world.”

Tracking systems have been available and widely used for many years by some commercial aircraft. “The requirements for their use were previously determined not by the aircraft type but by the airspace which it’s travelling through,” says Joseph Teixeira, vice president, Aviation Safety and Cybersecurity at Inmarsat.

“Technologies (such as Inmarsat’s SB-S) enable real-time data streaming from the aircraft and will meet all future requirements for abnormal and distress tracking, in addition to many other capabilities for commercial and business jet operators.

“For General Aviation aircraft, other location tracking technologies are widely used, such as ELTs,” he adds.

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AVIONICS

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Aircraft Tracking: What are the Equipment Solutions

The Business Aviation industry experienced issues responding to the US ADS-B mandate, partly because not all of the available technology was STC’d for retrofit until very late – particularly solutions for older airframes.

It’s natural to wonder whether there’s a danger of this happening for aircraft tracking too, should the current mandates become applicable to Business Aviation.

“If hard mandates for aircraft tracking systems other than ADS-B for business aircraft are imposed by regulatory authorities in the future, slow response to equip is likely to become an issue,” Elofson predicts. “It is more likely that ADS-B will satisfy requirements for tracking for aircraft traveling over land.

“Business aircraft traveling oceanic routes are typically larger, newer and better-equipped.

Solutions for FANS-1A or other satellite-based tracking should be available via STC or Service Bulletin modifications for these aircraft through the OEMs and service/modification facilities.”

The NATS mandate extended to the existing fleet, and compliance was largely met through existing equipment (Satcom or ADS-B), or via

A

readily available upgrades. In contrast, “The ADT mandate only applies to new-build aircraft so there’s no mandatory retrofit requirement,” Duell notes.

If it becomes mandatory for business aircraft with MTOW lower than 27 tons, or with less than 19 passenger seats, this requirement will be mandatory for aircraft delivered after the applicability date of the mandate, as currently proposed by ICAO. “If there’s an STC, it might cover the upgrade of the avionics suite (new function) and new ELT equipment able to comply with these functions,” Belleux suggests.

“It’s possible that the heaviest business jets will fall under this regulation, mostly because of the transoceanic capacity and range of aircraft with MTOW higher than 27 tons. This might be requested by insurance as well as it would become easier to find and define the trajectory of the aircraft.”

New aircraft should deliver from the factories with any required aircraft tracking systems installed by the time the aircraft tracking requirements become applicable. “New design aircraft are likely to meet the ADT mandate with an upgraded or additional ELT that incorporates the distress tracking detection and transmission requirements, known as an ELT-DT,” affirms Duell.

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“Business aircraft traveling oceanic routes are typically larger, newer and better-equipped.”

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JetNet February.qxp_Layout 1 20/01/2020 15:12 Page 1

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Avionics.qxp_Finance 22/01/2020 09:40 Page 4

AVIONICS

AVBUYER.com

Belleux believes that eventually it will be a choice made by every aircraft manufacturer. “Some may request the function to be embedded into the avionics suite (algorithm), others may add a new box to receive the necessary data from the aircraft probes and computers to define the aircraft status (emergency or not), and fulfil the function.”

Many business jets are as well-equipped as commercial aircraft with the latest location tracking technology today. “The requirements for aircraft location tracking are mandated by the airspace,” says Teixeira. “For example, in 2019, the FAA selected ADS-C, supported by Inmarsat’s Classic Aero and SB-S services, as its technology of choice for aircraft surveillance in the region.

“The technology will be used to reduce separation distances between aircraft in the US airspace as part of its commitment to implement new international standards by 2022.”

Aircraft Tracking: What are the Investment Considerations?

A FANS-1A upgrade to a modern transoceanic business aircraft can range between $250,000 to $500,000 depending on systems currently installed. The cost of upgrading aircraft to tracking

requirements will depend on the architecture chosen by the aircraft manufacturers.

“The price of the full shipset is difficult to estimate because all aircraft manufacturers have their own standard for interface,” says Belleux.

The cost for retrofitting aircraft with location tracking technology will also depend on what regulations are implemented in the future, and whether the aircraft owner needs to upgrade their systems as a result.

“There are several solutions already available on the market,” Texeira summarizes. “For location tracking alone, a new generation of Emergency Locator Transmitters (ELTs) may suffice to pinpoint the aircraft location following an emergency or accident.

“This technology is mature and is used across a variety of industries from aviation to maritime.

However, new transmitters will likely be needed to meet more stringent aviation requirements.

“Technologies such as Inmarsat’s SB-S can enable real-time data streaming from the aircraft including frequent location reporting. This technology is future proofing aircraft by providing a secure broadband connection between the aircraft and air traffic control.” ❙

TRACKING MANDATE

ICAO introduced its new Aircraft Tracking standard for commercial aircraft following the loss of Malaysia Airlines MH370 in March 2014, recommending position reports every 15 minutes. The Global Aeronautical Distress and Safety System (GADSS) was introduced on 8th November, 2018, as part of ICAO’s Standards and Recommended Practices (SARPS).

Many regulatory authorities have been mandating these recommendations, with operators expected to fit trackers to their aircraft, many using satellite services. However, IATA estimated at the end of 2019 that fewer than 70% of airliners flying in remote regions meet the requirements.

Meanwhile from 1st January, 2021, under the Autonomous Distress Tracking requirement, new production aircraft over 27,000kg (59,500lbs) Maximum Takeoff Mass must be able to produce position reports once per minute, independent of aircraft power and with the ability to be activated remotely – this being designed for aircraft in distress and for locating aircraft in a search. This capability is recommended for aircraft over 5,700kg (12,500lbs) MTOM also.

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ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION

"We have found AvBuyer to be an excellent portal to introduce and then market our aircraft on a global basis. The depth of their readership seems unsurpassed with a primary focus on European and other world markets.

We have quantified results from our marketing engagement with this firm and are very pleased to continue advertising with them.

Mark J. Graubart, Executive Director, Aircraft Sales Group LLC

“I’ve found AvBuyer to be very effective at reaching a global market, both through its digital and print distribution. And the AvBuyer team is great to work with!”

Jim Donath - Donath Aircraft Sales

Community News.qxp_Layout 1 21/01/2020 12:08 Page 1

COMMUNITY

AVBUYER.com

C

OEM Bites

Aerion has selected more suppliers of components for its in-development AS2, including Aernnova Aerospace, GE Aviation, GKN Aerospace, Potez Aeronautique and Safran. The AS2 will cruise at Mach 1.4, enabling it to fly between New York and Cape Town in 9h 56min (3h 39min less than “standard flights”). www.aerionsupersonic.com

Global 5500 and 6500 Awarded FAA Certification Bombardier’s two latest additions to the Global family, the Global 5500 and Global 6500, have received FAA certification. The aircraft obtained Transport Canada and EASA certifications within a few weeks of each other…

T

hese new aircraft are designed to build on the market success of the Global 5000 and Global 6000, offering 700 and 600nm additional range, respectively, coupled with up to 13% fuel burn advantage, which Bombardier says will contribute to favorable operating costs versus smaller competing aircraft with less range.

The Global 5500 aircraft can fly 200 nautical miles further than planned, connecting Western Europe to the West Coast of the United States, non-stop.

Both jets are powered by customdesigned Rolls-Royce Pearl 15 engines.

These, along with advanced wing design and built-in systems redundancy

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Airbus Corporate Helicopters revealed its ACH130 Aston Martin Edition. The special edition is the first result of a partnership between ACH and Aston Martin Lagonda (AML).

Design teams at both companies have been working for more than a year to create the Aston Martin Edition, available with four external schemes. www.airbushelicopters.com

and robustness, ensure optimal safety and a smooth ride for passengers.

Interior Mock-up of Learjet 75 Liberty

In addition, a full-size interior mock-up of Bombardier’s Learjet 75 Liberty was displayed recently at an event in Scottsdale, Arizona. The Learjet 75 Liberty – due to enter service in mid2020 – features a six-seat configuration.

Claiming to be the fastest aircraft in the Light Jet segment, the Learjet 75 Liberty with a longer range of 2,080nm, can connect Las Vegas to New York, Seattle to Washington, D.C., and Mexico City to San Francisco, non-stop.

More information from www.businessaircraft.bombardier.com

Embraer’s first Praetor 500s have entered service with fractional ownership provider Flexjet, after a pair of the Mid-size Jets were delivered to the US operator in late December.

This comes around 14 months after the Praetor 500 program was launched. The aircraft is an upgraded variant of the Legacy 450. https://executive.embraer.com

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Join us in Napa Valley for NAFA’s 49th annual conference. Register now at www.nafa.aero Where the industry gathers to connect the people and ideas that finance the world’s business and general aviation aircraft.

Keynote Speaker Dawn Hudson

Widely recognized as one of the most important female business executives of the past decade, Dawn Hudson is the former Chief Marketing Officer at the National Football League and the former President and CEO of Pepsi Cola North America. She has led an impressive career spanning high-level posts in media, retail, consumer goods, consulting, and healthcare at some of the biggest corporations in the world.

Hudson’s work has been focused on revolutionizing and strengthening brands’ positioning and marketing, tapping into culture change as fuel for innovative business strategies, and championing inclusive leadership and diversity.

She has been recognized as the “Most Vital Leader in Tech, Media, and Marketing” by AdWeek – topping a list of 50 industry titans – and twice as one of Fortune magazine’s “50 Most Powerful Women in Business.”

Some topics of importance covered at our event • State of Aviation Insurance • Detecting Fraud in Aircraft Transactions • The Future of Aviation and Urban Mobility • Aviation Industry Townhall • New Aircraft Showcase • Preowned Market Update • Desktop Appraisal Best Practices

Also included in our annual conference: • One Extra Day for Additional Content • Annual Golf Tounament • Wine Tasting Activities • Networking Find out more about the advantages of membership at www.nafa.aero.

410-571-1740 | info@nafa.aero

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COMMUNITY

AVBUYER.com

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OEM Bites

Piaggio has won a nearly $221m contract from the Italian Ministry of Defense for nine Avanti Evos and the retrofit of more than 19 aircraft. Under the aircraft order, Piaggio will deliver over the next four years five of the twin turboprops in a passenger and ambulance configuration and four for other missions. www.piaggioaerospace.it

Dassault Falcon Deliveries Flat Dassault Aviation delivered 40 Falcon business jets last year, one fewer than it did in 2018. “While we had guided for 45 Falcon deliveries in 2019, we had to face a difficult market,” the OEM remarked. alcon net order intake was on par with deliveries, resulting in a 1:1 book-to-bill ratio, but represented two fewer orders than the 42 Falcons ordered in 2018. The overall Falcon backlog at the end of 2019 stood at 53 units – the same as it was at the end of 2018.

F

Falcon 6X Development Progresses

Meanwhile, progress continues with the Dassault Falcon 6X program, and Dassault says the design is frozen, critical subassemblies are already being

completed, engine testing is on track, and final assembly of the first Falcon 6X is “just around the corner”.

The first completed Falcon 6X wing subassembly is expected to be shipped

by April to Dassault’s Bordeaux-Merignac facility, where it will be mated to the first fuselage section. Final assembly of the first 6X is set for “early 2020”. First flight is due next year, with entry into service following in 2022.

More information from www.dassaultfalcon.com

Understanding the Business Aviation Market - with

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AvBuyer

Rolls-Royce’s ambitions to build the world’s fastest all-electric aircraft have taken a crucial step forward with the unveiling of the airplane at Gloucestershire Airport in the UK. Work has begun on integrating the groundbreaking electrical propulsion system to enable the zero-emissions plane to make a run for the record books with a target speed of 300mph+ in late Spring. www.rolls-royce.com

Textron Aviation has successfully mated the wings to the fuselage of the first Cessna SkyCourier twin turboprop prototype, a key milestone in the development of the clean-sheet aircraft.

The program is progressing well with the assembly of the prototype and additional five flight and ground test articles now completed. www.txtav.com

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COMMUNITY

AVBUYER.com Matt Baer was promoted by Gulfstream, to regional VP of sales for the north-eastern US and eastern Canada.

Matt Baer

Jon Kroesche is the new chief pilot of flight operations, Duncan Aviation, and will lead the flight crews within Duncan’s flight department.

Carroll Lane assumes the role of president at Pratt & Whitney’s commercial engines business, reporting to Pratt & Whitney president Christopher Calio.

Carroll Lane

Brian Moore has been named senior VP, operations at FlightSafety International, replacing Dann Runik who has left the company.

Michael J. Moore is appointed executive vice president of Essex Aviation’s consulting and aircraft acquisition team.

Brian Moore

Marc Parent, president and CEO at CAE, was awarded the Aerospace Industries Association of Canada (AIAC) James C. Floyd Award for his exceptional achievement and contribution to the success of the Canadian aerospace industry.

Charlie Precourt, vice president and general manager Propulsion Systems at Northrop Grumman, has joined the National Business Aviation Association board of directors.

Craig Rathjen has been named director of flight operations at Duncan Aviation, where he is tasked with providing great experience and value to internal flight and external charter and management customers.

Ken Sain has been named CEO of Panasonic Avionics. He succeeds Hideo Nakano, who held that position since 2017 and will now transition to the role of special advisor to the company.

Pat Sheedy moves to Ireland-based helicopter leasing business, GECAS Milestone Aviation Group as CEO. He succeeds Greg Conlon, who was recently promoted to GECAS president and CEO.

Todd Shriner

Murray Smith

Todd Shriner has been named technical representative for Bombardier products at Duncan Aviation.

Murray Smith, a legendary aviation figure, and founder of Professional Pilot Magazine died on Christmas day at the age of 89.

James Viola

James Viola has been selected to succeed Matthew Zuccaro as president and CEO of Helicopter Association International (HAI).

Charles Wemaëre becomes Dassault Aviation’s VP worldwide spares, with responsibility for spare parts strategy and logistics for the global Falcon fleet.

Charles Wemaëre

Marc Parent

BizAv Events 2020 Corporate Jet Investor London Feb 3 -4 London, UK www.corporatejetinvestor.com

BBGA Annual Conference Mar 5 Luton, UK www.bbga.aero

NBAA: Business Aircraft Finance Conf Mar 22 - 24 Amelia Island, FL, USA www.nbaa.org

ABACE: Apr 21- 23 Shanghai, China www.nbaa.org

Air Ops Europe 20 Feb 4 – 5 Brussels, Belgium www.ebaa.org

NBAA: Regional Forum Mar 5 San Jose, CA, USA www.nbaa.org

AEA Int’l Convention & Trade Show Mar 24 – 27 Nashville, TN, USA www.aea.net

Business Aviation Safety Summit (BASS) Apr 28 - 29 Savannah, GA, USA www.flightsafety.org

SETops & Small Airfield Conference Feb 27 London, UK www.emeraldmedia.co.uk

NBAA: Schedulers & Dispatchers Conf Mar 10 – 13 Charlotte, NC, USA www. nbaa.org

Aircraft Interiors Expo Mar 31 – Apr 2 Hamburg, Germany www.aircraftinteriorsexpo.com

NAFA: Convention Apr 28 – May 1 Napa Valley, CA, USA www.nafa.aero

NBAA: Leadership Conference Feb 24 – 26 Orlando, FL, USA www.nbaa.org

European Corporate Aviation Summit Mar 13 Malta www. aeropodium.com

Sun-n-Fun Int’l Fly-In & Expo Mar 31 – Apr 5 Lakeland, FL, USA www.sun-n-fun.org

NBAA: Maintenance Conference May 5 – 7 Hartford, CT, USA www.nbaa.org

Aero Expo Mar 3 - 5 Toluca, Mexico www.aeroexpo.com.mx

NBAA: Int’l Operators Conference Mar 16 – 19 Charlotte, NC, USA www.nbaa.org

AERO Friedrichschafen Apr 1 - 4 Friedrichschafen, Germany www.aero-expo.com

US Corporate Aviation Summit May 8 Fort Lauderdale, FL, USA www. aeropodium.com T

110 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

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REGISTER FOR THE PREMIER BUSINESS AVIATION EVENT IN EUROPE Join thousands of business leaders, government officials, manufacturers, flight department personnel and all those involved in business aviation for the European Business Aviation Convention & Exhibition (EBACE2020), which will take place at Geneva’s magnificent Palexpo from 26 to 28 May. This is the perfect venue for investors considering aviation as a business opportunity; companies thinking of using an aircraft for business; and flight departments who have long used aircraft as a valuable business tool. Visit the website to learn more and register today.

REGISTER NOW | ebace.aero

Products & Services February.qxp_Layout 1 23/01/2020 10:07 Page 1

PRODUCTS & SERVICES Viasat’s Ka-Band System for Praetor 600

Viasat has announced the certification of its Ka-band business jet connectivity solution for use on the Embraer Praetor 600 supermidsize jet. Type certification has been awarded by the FAA< EASA and ANAC, with the system being offered as a line-fit option for purchasers of the new plane www.viasat.com

Elliott Aviation

has announced their remote-mount, Garmin-based ADS-B solution has now been installed in over 600 business aircraft.

These aircraft include Citations, Hawkers, Beechjets, Premiers, Falcons, Learjets, Challengers, Astras, ERJ’s and many others.

The solution also provides seamless integration to existing cockpit controls including TCAS-II equipped aircraft. In addition to ADS-B OUT, this STC includes ADS-B IN through a Bluetooth compatible device through Garmin’s Flight Stream wireless platform. The STC replaces an aircraft’s transponders with remote-mount Garmin GTX-3000 smart transponders.

Elliott Aviation’s Garmin ADS-B STC’s do not require any modification to a current avionics package and do not require any current equipment to be sent out for upgrades, which removes the risk of having additional cost. Aircraft equipped with this solution gives the operator a $50,000 credit toward a future Garmin G5000 installation in the Beechjet 400A/Hawker 400XP or Citation Excel/XLS www.elliottaviation.com

EAP Widens Engine Support

Hourly engine maintenance programme Engine Assurance Program (EAP), known for its support of the TFE731 engine and its variants, has added the PW305A/B, Tay 611-8 and CF343A-3A1 to its portfolio. The engines power the Lear 60/XR, Hawker 1000, Gulfstream GIV/SP and Challenger 601 1A/3A. “Clients have been asking us to extend coverage to these engines. They fit our mission of supporting older engine platforms and of helping owners save money. No EAP clients have ever missed a trip because of an AOG issue either. When a customer calls with an unscheduled engine issue, we jump into action until the engine is returned to service. We will fight hard as long as we can to keep our track record flawless and keep our customers in the air,” says programme coordinator Sean Lynch.

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EAP's oversight helps operators with dispatch reliability, increased residual value and significant cost savings, often as much as $80-$120 per engine per hour www.eap.aero

Pratt & Whitney Named Leader in Safety

Pratt & Whitney has been named one of America’s Safest Companies for 2019 by EHS Today magazine.

Recognized for a stellar record that “provides a safe working environment for thousands of employees,” Pratt & Whitney was recently presented the award by EHS Today during the Safety Leadership Conference in Dallas.

“Our 42,000 colleagues worldwide contribute every day to our culture of safety, and should be proud of this recognition. The Environment, Health & Safety program continuously improves, through the focus on starting with safety and making safety a personal choice at work and at home,” said Lisa Szewczul, Pratt & Whitney vice president of Environment, Health & Safety. “EHS Today’s selection criteria are as stringent as our own standards of performance, which is why we hold this in such high regard. Our thanks to EHS Today for this recognition.” www.pw.utc.com

West Star Completes Custom Paint Job

West Star Aviation recently completed a custom paint finish on a new, factory delivered Embraer Praetor 600. The new aircraft was brought to West Star directly from the factory at the request of the customer for a unique and custom paint job. With our state-of-the-art paint facility, we are capable of handling large and small paint projects, as well as being a one-stop shop for our customers and their requests.

“It’s always exciting to be involved in the custom designs we offer, especially when it’s a clean slate straight from the factory,” said Tom Modrick, Embraer/Textron Program Manager, GJT. “We believe our customers continue to select West Star for their aviation needs because of our wide range of services, including custom jobs such as this one,” Modrick continued www.weststaraviation.com

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PRODUCTS & SERVICES StandardAero Opens New Helicopter MRO Facility

StandardAero has opened a new helicopter MRO facility in Vancouver, Canada as part of its efforts to streamline helicopter support operations through establishing dedicated centers of excellence. The facility will join StandardAero’s helicopter centers of excellence in Winnipeg, MB and Langley, BC, dedicated to helicopter engines and airframes respectively, as well as MRO’s other helicopter support facilities across North America, Europe and Asia www.standardaero.com

Guardian Jet Launches Comparison Tool

Guardian Jet the aircraft brokerage, appraisals and consulting firm, recently announced the addition of a Cabin Comparisons tool to its website and Vault client portal.

Using the Cabin Comparisons tool, a Guardian Jet visitor can view cabin layouts and cross sections for more than 80 models.

“Guardian Jet is an airplane broker, but we’re also in the information business. We want to provide our sophisticated clients with the best tools so they can make the most informed decisions about their next asset purchase. This new tool will help them narrow down their options based on needs, and it helps them research, gather data and conduct due diligence all in one place. There’s no need to visit various aircraft manufacturer’s sites, we’re a one stop shop”, states Don Dwyer, Managing Partner, Guardian Jet www.guardianjet.com

ABS Jets Launches Full Service FBO at Bratislava Airport

The Prague and Bratislava-based business jet operator ABS Jets has recently been approved by the Bratislava Airport Authority to provide full scale FBO services at Bratislava Airport (Slovakia). ABS Jets has operated in Bratislava since 2009, supervising business aviation ground handling services.

This marks 10 years since ABS Jets established its Bratislava base to support its own fleet and supervise VIP handling services for private jet operators www.absjets.com

Air Service Basel gets Approval from Cirrus

To support the Cirrus Vision Jet SF50 for Maintenance and CAMO+ services, making it the first Authorized Service Center for EASA and FAA registered Cirrus aircraft in Europe.

www.AVBUYER.com

The company began by achieving the EASA Part-145 Approval for Full Line & Base Maintenance, including the FAA Repair Station Approval at the end of 2019, soon followed by the full CAMO+ Approval www.airservicebasel.com

AMAC is Busy in Basel

AMAC Aerospace announced a successful re-delivery of a Boeing B737 on time. In addition, the headquarters of AMAC Aerospace in Basel has also been awarded with several new maintenance projects.

Two Head of State Airbus aircraft is currently undergoing, among other work, cabin refurbishments www.amacaerospace.com

Clay Lacy now Service Center for All Embraer Jets

Embraer has expanded Clay Lacy Aviation’s Service Center Authorization to include Legacy and Praetor business jets. Established as the first authorized service center on the West Coast in 2009, Clay Lacy has performed over 10,000 hours of work on the Embraer Phenom 100 and 300 models, and recently completed some of the first Phenom 10-year inspections www.claylacy.com

Duncan Unveils Eyecatching Paint Job

Duncan Aviation recently put its aircraft customization skills to the test on one of its own company jets. The Cessna Citation 560XLS, recently unveiled in a private ceremony, carries an elaborate paint scheme from artist Nancy Friedemann Sánchez, who like Duncan itself, is based in Lincoln, Nebraska. It was commissioned by Robert Duncan, the family-run company’s chairman emeritus, and his wife Karen, who had admired Sánchez’s work at an art show www.duncanaviation.aero AVBUYER MAGAZINE Vol 24 Issue 2 2020 113

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PRODUCTS & SERVICES Elliott Renews Blackhawk Agreement

Elliott Aviation, a leader in business aviation maintenance, overhaul, and repair services, has renewed their dealer agreement with Blackhawk Aerospace. Elliott Aviation has been a Blackhawk dealer since 2003 and has completed numerous installs on all King Air Models: C90’s, 200’s and most recently the King Air 300/350 airframe.

Blackhawk Aerospace’s engine upgrades for the King Air include the XP135A for the King Air C90, XP42, XP52, XP61 for the King Air 200 series, and the XP67A engine upgrade for the King Air 300/350. Blackhawk’s engine upgrades allow for better climb performance, increased speed, and increased efficiency over stock King Air engines www.elliottaviation.com

JETNET for Salesforce on Salesforce AppExchange

JETNET is reminding aviation professionals to begin the New Year with the recently launched JETNET for Salesforce on Salesforce AppExchange, empowering customers to access and import aircraft, companies and contacts from JETNET, including their simple step sync of chosen datasets. The new app allows JETNET and Salesforce clients to access and import JETNET company, contact, and aircraft data; create, update, and customize company, contacts, and aircraft records with a single click; maintain original—or create new—company relationships in aircraft records; navigate JETNET program links and records without leaving the Salesforce platform; and easily identify and sync data changes since your last visit www.jetnet.com

Quiet Technology Reaches Milestone

Since receiving FAA STC approval in October 2015, Quiet Technology Aerospace (QTA) has installed its 100th Lear 60 corrosion-proof carbon graphite engine inlet barrel in December 2019.Barry Fine, QTA’s President is pleased their now proven technology is keeping these aircraft flying safely while improving airframe values. “We started our inlet program with the Lear 60. Today we have achieved seven additional such STCs on a variety of popular business aircraft that guarantee the recurring problem of inlet barrel corrosion is terminated. One hundred barrels installed for the Lear 60 fleet is a terrific milestone. And we have plenty more to go!” www.qtaaerospace.com 114 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

Rolls-Royce Proceeds with Pearl 15

Rolls-Royce is ready to proceed with production of its new Pearl 15 turbofan that powers Bombardier’s new Global 6500 and 5500 aircraft following FAA certification of the engine last December, marking a major milestone for the Rolls-Royce’s Pearl engine family. This family also includes the Pearl 700 that will power Gulfstream’s new G700.

FAA certification of the Pearl 15, designated as BR700710D5-21, builds upon certification the engine has already received from EASA and Transport Canada. The Pearl 15 features the same nacelle envelope as its predecessor, the BR710, but is more powerful with a maximum certified thrust of 15,250 pounds and up to 7% better fuel burn. It also is quieter by 2 decibels and shows a 20% improvement in nitrogen oxide emissions www.rolls-royce.com

Wheels Up and Delta Private Jets to Combine

Wheels Up and Delta Air Lines have reached a definitive agreement for Delta Private Jets, a wholly-owned subsidiary of Delta, to combine with Wheels Up. The transaction will pair Wheels Up's membership programs, digital platform and lifestyle experiences with Delta Private Jets existing infrastructure to create a partnership with a fleet of more than 190 private aircraft and over 8,000 members and customers.

Wheels Up Founder and CEO Kenny Dichter will continue in his role leading the Wheels Up senior management team as it builds its partnership with Delta, which will also hold an equity position in Wheels Up www.wheelsup.com

www.AVBUYER.com

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S H O W C A S E

1996 Hawker 800XP Serial Number: Registration: Airframe TT: Landings:

258312 5N-EXJ 5480 4918

• JSSI ENGINES (100%)  NO DAMAGE HISTORY  WINGLETS Engines Airframe TT: Cycles:

Engine 1 5476 4228

Engine 2 5479 4230

APU 4918 hours / 7518 cycles Avionics & Connectivity • ADF: Dual Honeywell DF-850 • AFIS: Honeywell AFIS • Autopilot: Dual Honeywell DFZ-800 IFCS • Communication Radios: Dual Honeywell RCZ-851 w/8.33 kHz spacing • CVR: Fairchild A100A • DME: Dual Honeywell RCZ-851 • EFIS: Honeywell Primus II 5-tube • FDR: Fairchild F1000 • Flight Director: Dual Honeywell DFZ-800 IFCS • Flight Phone: AirCell

• FMS: Dual Honeywell FMZ-2000 w/5.2 software & dual 12-channel GPS • Hi Frequency: Dual King KHF-950 w/Motorola N1335 SELCAL • Navigation Radios: Dual Honeywell RCZ-851 • Radar Altimeter: Honeywell AA-300 w/dual antennas • TAWS: Honeywell Mark VII EGPWS w/windshear • TCAS: Honeywell TCAS-2000 TCAS-II w/change 7 • Transponder: Dual Honeywell RCZ-851 • Weather Radar: Honeywell Primus 870 color

1981 Piper Cheyenne II Serial Number: Registration: Airframe TT: Landings:

HB-LUF 31T-8120015 9540 9695

• ALWAYS HANGARED • NO DAMAGE HISTORY • PROPELLER OVERHAULED DEC/2016

Avionics & Connectivity Dual Garmin GTN750 with WAAS • Garmin GTX 330 D Transponder • Garmin GMA 347 Audio/MKR • Garmin GWX 68 Weather Radar • King KN 63 DME • King KDI 572 DME • King KR 87 ADF • King KA 44B Antenna • King KI 229 RMI • King KAS 297A ALT/Preselect • Sandel SN4500 EHSI • King KPI 552 HSI R/H • Avidyne TAS 620 TCAD • L3 WX 500 Stormscope

Mesotis Jets Thomas Thums Fleischmarkt 7/3 1010 Vienna Austria

www.AVBUYER.com

• L3 NY 163 Antenna • Sandia SAE5-35 B. Encoder • Filter ATR 833 COM3 • Avidyne TAS 620 Antenna • Garmin GAD 42 Interface

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

AVBUYER MAGAZINE R Vol 24 Issue 2 2020 R

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S H O W C A S E

Price : Make Offer 2009 Gulfstream G550 Serial Number: Regiatration: Airframe TT: Landings:

5249 N767PL 2675.3 662

G550-5249 is an immaculate, one experienced owner/operator from new, hangared in Van Nuys until sold, no damage history aircraft. It has been 'N' Reg from day one. Enrolled on RRCC, PlaneParts, GCMP, and HAPP. There is no Internet / WiFi system on board, and APU is not currently enrolled on MSP. Aircraft has never been on charter Engines BR710-11 APU Honeywell RE220: (No MSP Program) Enrolled Programs Rolls Royce Corporate Care Engine Program Honeywell Avionics Protection Plan Gulfstream PlaneParts Program (No APU MSP Plan) Avionics Four (4) Honeywell DU-1310 Flat Panel Display Units Two (2) Honeywell DC-884 Display Controllers One (1) Honeywell DP-884 Display Brightness Panel One (1) Honeywell/Kollsman Visual Guidance System (VGS)

Three (3) Honeywell MAU-913 Modular Avionics Units One (1) Honeywell GP-500 Flight Guidance Panel Three (3) Honeywell MC-850 Multifunction Control Display Units Three (3) Honeywell AZ-200 Air Data Modules One (1) Honeywell WU-880 Weather Radar Receiver/Transmitter Antenna Two (2) Honeywell WC-884 Weather Radar Controllers Three (3) Honeywell IR-500 LASEREF V Micro Inertial Reference Units Two (2) Honeywell MRC-855A Modular Radio Cabinets Three (3) Honeywell AV-900 Audio Panels Interior & Entertainment Gulfstream Select Universal 14 passenger Interior. Featuring a forward crew rest area and forward galley which includes coffee pot plus Espresso machine, microwave and convection warming ovens, refrigerator, ice drawers, hot water, control panel incorporating Securaplane screen, with a four-place club seating group, 4 place conference group, aft cabin 2 single club chairs opposing a four-place divan, fax machine.

Forward and aft vacuum flushing lavatories, 6 Individual monitors in all single seat positions, 2 x 20â&#x20AC;&#x2122; bulkhead monitor, 1 x 17â&#x20AC;&#x2122; monitor positioned above credenza and 3 external cameras.

Exterior Overall Matterhorn white with Vintage red stripes

SMS Aircraft Suite 1108, Level 11 St Kilda Road Towers 1 Queens Road, Melbourne Victoria, 3004, Australia

116 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

Tel: +613 9863 9550 Cell: +61 417 727 727 E-mail: gsvensen@smsaircraft.com www.smsaircraft.com

www.AVBUYER.com

Jetsense Aviation Bombardier Challenger 604 February.qxp_Empyrean 23/01/2020 12:20 Page 1

S H O W C A S E

2006 Bombardier Challenger 604 Airframe TT: Landings:

4351 1883

 More aggressive pricing available for a year-end deal  Currently going through a $45K PPI at Flying Colours - SUS  ATG-5000 Wifi  -150 APU  Engines Enrolled on GE OnPoint  Paint Refurbishment in 2016  Interior Refurbishment in March 2018  Precision Plus

Dual Collins ADF-462 Dual Collins HF-9031A Dual GPS-4000 Receivers/Sensors Dual Collins TDR 94D Transponders Coltech SELCAL System Dual Collins ALT-55 Radio Altimeters Fairchild A100S CVR Interior & Entertainment Interior Configuration Fwd 4-Place Club, Aft 3Place Divan, and Aft 2-Place Club Number of Passengers 9

Engines Left engine Description: GE CF34-3B S/N: 950486 THSN: 4351 Hours TCSN: 1883 Cycles Engine Program GE OnPoint

Right engine GE CF34-3B 950484 4351 Hours 1883 Cycles GE OnPoint

Avionics & Connectivity Collins ProLine 4 System includes: Collins EFD-4077 Pro Line 4 6 Tube Dual Collins VIR-432 with FM Imm. Dual Collins DME-442 Collins TCAS II with Change 7 SATCOM ICS-200 System Collins RTA 854 Weather Radar Artex 406 Satellite ELT Honeywell EGPWS Mark V Dual Collins VHF-422C

Jet Sense Aviation, LLC Contact: Brett Forrester Contact: Pat Mitchell 1 Golfview Rd, 2nd Floor, Lake Zurich, Illinois 60047 www.AVBUYER.com

Tel: +1 (847) 550 4660 Email: brett@jetsenseaviation.com Email: pat@jetsenseaviation.com www.jetsenseaviation.com

AVBUYER MAGAZINE Vol 24 Issue 2 2020

117

Vienna Jets February.qxp 20/01/2020 15:57 Page 1

S H O W C A S E

2001 Cessna Citation Excel Serial Number: Registration: Airframe TT: Landings:

5157 OE-GCA 5677 5025

 100% JSSI, ADS-B OUT & SBAS  NO DAMAGE HISTORY Engines PW545A on 100% JSSI Left engine DB0324 S/N: 5224 Hours: 4875 Cycles: OVH: 04.2019 TSO: 205

Right engine DB0321 5606 4957 02.2018 576

APU Honeywell RE100 Total Time 3202 hrs Cycles 5944 Overhaul 2013 @ 3956 cycles Avionics & Connectivity AHARS – Dual LCR-93 ADC (Air Data Computer) – Dual Honeywell AZ-850 FMS (Flight Management System) – Dual Universal UNS 1ESPW NAV – Dual Honeywell Nav/ILS Units VHF COM (Very High Frequ. Communication) – Dual Honeywell DME (Distance Measuring Equipment) – Dual Honeywell DM-850 ADF (Automatic Direction Finder) – Honeywell DF-850 XPDR (Transponder) – Dual Honeywell XS-852H (ADS-B) TCAS (Traffic Collision Avoidance System) – Honeywell TPU-67B ( TCAS II - Change 7.1)

Radio ALT (Radar Altimeter) – Collins ALT-55 CVR (Cockpit Voice Recorder) – L3 A200S FDR (Flight Data Recorder) – Honeywell SSFDR EGPWS (Enhanced Ground Proximity Warning System) – Honeywell MK-V WX RADAR (Weather Radar) – Honeywell ELT (Emergency Location Transmitter) – Artex C406-2 Airshow Cabin Display Screen Interior & Entertainment 8+1 passenger executive interior with forward two-place side facing divan, center club seating and two forward facing seats. Seats in tasteful grey leather with complimenting accents. Interior refurbished 2016 by Duncan Aviation Exterior Attractive overall white with decent silver, blue and dark blue accents. New paint 2016 by Duncan Aviation

2003 Cessna Citation Excel Serial Number: Registration: Airframe TT: Landings:

5316 OE-GCG 6561 6199

• JSSI • ADS-B OUT • SBAS • NO DAMAGE HISTORY • FRESH DOC 6, 11, 19 & 20 INSPECTIONS Engines PW545A on JSSI Left engine S/N: DB0648 Hours: 6134 Cycles: 5356 OVH: 03.2017 TSO: 755

Right engine DB0647 6272 5792 10.2016 953

APU Honeywell RE100 XL S/N: P-376. Time: 2481 hrs. Cycles: 5590 Avionics Honeywell Primus 1000 Integrated Avionics System with 3-Tube EFIS AHARS – Dual LCR-93 ADC (Air Data Computer) – Dual Honeywell AZ-850 FMS (Flight Management System) – Dual Universal UNS 1ESPW NAV – Dual Honeywell Nav/ILS Units VHF COM (Very High Frequ. Communication) – Dual Honeywell DME (Distance Measuring Equipment) – Dual Honeywell DM-850 ADF (Automatic Direction Finder) – Honeywell DF-850 XPDR (Transponder) – Dual Honeywell XS-852 (ADS-B out) Radio ALT (Radar Altimeter) – Collins ALT-55B

Vienna Jets Thomas Wieser Kolschitzkygasse 2/18, 1040 Vienna, Austria

118 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

TCAS (Traffic Collision Avoidance System) – Honeywell TPU-67A (TCAS II - Change 7.1) CVR (Cockpit Voice Recorder) – L3 FA2100 FDR (Flight Data Recorder) – Honeywell SSFDR EGPWS (Enhanced Ground Proximity Warning System) – Honeywell MK-V Interior 8+1 Passenger Executive Interior with Forward Two-Place Side Facing Divan, Center Club Seating and Two Forward Facing Seats. Belted Lavatory.Seats in Tasteful Grey Leather with Complimenting Accents. Interior Refurbished in 2016 by Duncan Aviation. Airshow Cabin Display Screen Exterior Attractive overall white with decent silver, blue and dark blue accents. New paint 2016 by Duncan Aviation.

Tel: +43 (0) 676 721 7335 Email: thomas.wieser@viennajets.com www.viennajets.com

www.AVBUYER.com

P119-120.qxp 22/01/2020 12:04 Page 1

Gulfstream G550

The Ritchie Group Price:

Please Call

Year:

2012

S/N:

5364

Reg:

TBD

TTAF:

2050

Location: USA & Canada

M A R K E Tel: +1 (314) 409-4791 T E-mail: sales@jet-transactions.com P L ACT NOW TO PICK YOUR OWN CUSTOM STRIPES! A Base Paint in Matterhorn White.

C Pre-Buy Inspection, Paint and Light Interior Upgrades E Scheduled with West Star Aviation!

2020 Compliant! ADS-B Out (DO 260B), CPDLC FANS 1/A Enhanced Navigation, Lightning Sensor System and Airshow 4000 Impeccable Maintenance History Delivered with RAAS and SVS!

www.jet-transactions.com

Bombardier Global 6500

Milcham Aviation Price:

Off Market

Year:

2020

S/N:

60XX

Reg:

N-TBD

TTAF:

00

Tel: +1 (310) 984 6777, Cell: +1 (323) 426 8922 E-mail: sales@milcham.lu FRACTIONAL OWNERSHIP PROGRAM PLANE WILL BE DELIVERED END OF MARCH 1/4 of the Global 6500: AMOUNT OF THE SHARE 15.000.000,00 USD Management fees of $126,000.00/month: 200h/year onboard included Fuel, Pilots, Pilots Training, Insurance, Maintenance, Flights plans, Handling, Hangar, Crew expenses, Landing fees, Catering. The co-owners can resale his share after 18 months; the depreciation will be 5% per year. The fleet will be renewed every four years

Location: USA & Canada

Gulfstream G550

Joe Jou Price:

Make Offer

Year:

2009

S/N:

5243

Reg:

B99888

TTAF:

2550

Location: USA & Canada

Nextant 400XTi

Amber Jet Price:

Please Call

Year: S/N:

RK-431

Reg:

N445VL

TTAF:

4843.4

Tel: +93 098 66 97 E-mail: joe.jou@winairjet.com No damage history. 14 Pax seats, rearward galley. Equip Swift Board Band. Airframe: Total cycle: 1,012 cycles. Eng: Total cycle: 1,012 cycles. APU: Total time: 3,470.5 hours. Total cycle: 1,598 cycles. Avionics: COLLINS HF-9034A HF/TRANSCEIVER. HONEYWELL TR-866B VHF/TRANSCEIVER. HONEYWELL SD700 SATCOM. HONEYWELL NV-875A VOR/MB. HONEYWELL NV-875A VOR/ILS. ARTEX C406N (FIXED) ELT(FIXED). Int: 14 pax seats with 1 crew rest. 1 forward lavatory, 1 rearward lavatory. Ext: Lower fuselage in deep blue, and red and with stripe with white upper fuselage

Tel: +371-26772999 E-mail: vr@amberjet.net Unique interior refurbishment by C&L Aviation in 2019 Exterior refurbishment by C&L Aviation in 2019 7 Seat configuration with comfortable 4 seats club-seating (100 cm. length between seats) EASA and FAA Compliant ADS-B Out, TCAS 7.1 installed â&#x20AC;&#x201C; fully 2020 Compliant Synthetic Vision Low hours aircraft after D-Check (accomplished 02/27/2019)

Location: Latvia

Agusta AW139

Skypro Charters Price:

Please Call

Year:

2013

S/N:

31455

Reg:

-

TTAF:

442,27

Location: Russian Federation

www.AVBUYER.com

Tel: +7 495 150 3300 E-mail: eo@skypro.aero Always hangared. Remedied defects, which usually occurring during the first 300 flight hours. Not based in the coastal climate, no corrosion.

Interior in perfect condition due to low usage. Ergonomic interior.

Airframe: Date entered service - 05.2013. Landings - 910 cycles. Seats 8. Configuration - VIP. Avionics: Honeywell Primus Epic System for visualization of flight and navigation data. Electronic Standby Instrument System (ESIS). Attitude and Heading Reference Systems (AHRS). Air Data Modules (ADM). Additional Equipment: Air collision avoidance system TCAS I KTA-970 Honeywell Bendix/King. Improved system of warning of dangerous approach to the earth EGPWS

AVBUYER MAGAZINE R Vol 24 Issue 2 2020 R

119

P119-120.qxp 22/01/2020 12:04 Page 2

M A R K E T P L A C E

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

Leonard Hudson Drilling

Bombardier Learjet 36A

Price:

Offer/Trade

Year:

1977

S/N:

36A-030

Reg:

N160GC

TTAF:

15,600

Learjet 36A, Long range capability, as configured 2,400 nautical miles. Can be upgraded to 2,600 mile range.

Recent paint and interior, RVSM. Competitively priced at US $1,375,000, may take trade on a King Air or a helicopter Would consider trade for KingAir 200/300

Location: USA

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

Leonard Hudson Drilling

BELL 412EMS

Price:

Offer

Year:

1981

S/N:

33017

Reg:

N554AL

TTAF:

15265

Full EMS Medical 4 patient and 4 attendant interior.

Recent ‘no expense spared’ airframe refurbishment at Acro Helipro within the last 100 hours.

Both engines are fresh Pratt and Whitney overhauled.

Immediate delivery, Meticulous records.

Current with medical interior and 13 passenger utility interior are included, aircraft is ‘turn-key’ will provide Fresh annual /Export C of A

Location: USA

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

Leonard Hudson Drilling

BELL 212 (Five Available)

Price:

Please Call

Year:

1991-1996

S/N:

Call for details

Reg:

Call for details

TTAF:

Call for details

Five, Late Model, Bell 212s In 'Off Shore’.

Available for immediate use.

Asking $3.1M to $3.6M USD. Serial numbers: 35034, 35048, 35060, 35088 and 35096

Location: USA

Cessna Citation Bravo

Price:

Make Offer

Year:

2002

S/N:

550-1007

Reg:

LZ BPP

TTAF:

3533.8

Location: Bulgaria

Alberth Air Parts

Tel: +359 888 211 134 E-mail: office@aviobravo.com

Boris Peev

+1 832 934 0055

Spare Parts

EU Registration. ENG1-PW 530A, 3533.8 H. ENG2-PW 530A, 3533.8 H. RVSM: Factory Standard. No damage history. Complete records and all log books. Special AOC Package: Commercially registered and operated in European AOC. This aircraft is in excellent condition.

Aircraft's current location - LBSF. Avionics: Honeywell Primus 1000 Integrated Avionics System 3 – Tube EFIS. COMMUNICATION: Dual Bendix/King KY196B Comm. VHF NAVIGATION: Dual Bendix/King KN53 Nav Receiver. Interior: Standard Citation Bravo (7+ 2 + 1 Belted Lavatory). Center Club, two Aft Forward-facing Seats, rear Facing Seat across from Galley including Belted Lavatory. Price Reduced

Par Avion Ltd FALCONS • HAWKERS • LEARS

•BUY •SELL •TRADE CESSNA LEARJET HAWKER WESTWIND FALCON GULFSTREAM

www.alberthaviation.com

www.paravionltd.com SALES • ACQUISITIONS • CONSULTING

Fax: +1 832 934 0011 120 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

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P121.qxp 22/01/2020 16:19 Page 1

JETAPPRAISALS Performed by Accredited Senior Appraisers

877.531.1450 jetappraisals.com

Desktop Aircraft Appraisals / On-Site Asset Verification and Logbook Review Residual Values / Customized Analysis Advertiser’s Index 1st Source Bank...................................................63 Aircraft BlueBook ..............................................121 Aircraft Finance Corporation.........................1, 15 Airfleet Capital ......................................................69 Aradian Aviation ....................................................97 AvBuyer ........................................................58, 105 Avjet Global ................................................. 30 - 31 Avpro ..............................................................16 - 19 Boutsen Aviation ..................................................81 Bloom Business Jets ...........................................71 Central Business Jets .......................................123 Conklin & de Decker............................................91 Corporate Angels ..............................................109 Corporate Concepts............................................73 Dassault Falcon Pre-Owned. ........................2 - 3 Donath Aircraft Services.....................................55 Duncan Aviation...........................................42 - 44 Eagle Aviation........................................................25 EBACE.................................................................111 ElliottJets ...............................................................37

Freestream Aircraft ..............................................33 General Aviation Services ..................................67 Global Jet Capital.................................................77 Global Jet Monaco........................................ 5 - 12 Hatt & Associates.................................................29 Isle of Man Aircraft Registry...............................57 JetBrokers ..............................................................89 Jetcraft Corporation ..........................38 - 39, 124 Jeteffect .........................................................52 - 53 JetHQ.............................................................48 - 49 JETNET ................................................................101 Jet Sense Aviation..............................................117 Leading Edge Aviation Solutions......................85 Lektro ......................................................................13 Lone Mountain Aircraft........................................59 Mesotis Jets ........................................................115 NAFA.....................................................................107 OGARAJETS................................................22 - 23 Par Avion ................................................................57 Singapore Airshow............................................104

Sky Aviation Holdings .........................................61 SMS Aircraft .......................................................116 Sparfell & Partners ......................................34 - 35 Textron Aviation Pre-Owned ..............................21 The Jet Business..........................................26 - 27 The Private Jet Company ....................................47 Vienna Jets ..........................................................118 Wright Brothers Aircraft Title ..........................103

Maintenance Section Index Aero-Dienst............................................................21 Atlas Air Service ...................................................17 AvBuyer ..................................................................34 Duncan Aviation....................................................29 Engine Assurance Program ...............................31 Oriens .....................................................................25 Pratt & Whitney.....................................................33 Rolls-Royce Corporate Care.................... 2 - 3, 5 San Marino Aircraft Registry ................................9 Sun King Diamonds.............................................11

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AvBuyer (USPS 014-911), Feb 2020, Vol 24 Issue No 2 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.

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AVBUYER MAGAZINE R Vol 24 Issue 2 2020 R

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Aircraft For Sale • AIRCRAFT • HELICOPTERS

AIRCRAFT

PAGE

AIRCRAFT

AIRBUS

CESSNA

ACJ 318 . . . . . . . 27, A318 Elite . . . . . 5, 6, A319 VIP . . . . . . 5, A380-800 . . . . . . 35,

Citation

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 27, 124, BBJ2 . . . . . . . . . 5, BBJ3 . . . . . . . . . 33, 737-200 . . . . . . . 73, 737-300 . . . . . . . 73, 757 . . . . . . . . . . . 31, 787-9. . . . . . . . . . 39, 124,

BOMBARDIER Global 5000 . . . . 38, 39, 49, 81, 124, Global 6000 . . . . 39, 124, Global 6500. . . . 119, 124, Global 7500 . . . . 38, Global Express . 26, 49, Global Express XRS. 16, 26, 39, . . . . . . . . . . . . . . . 124,

Challenger 300 . . . . . . . . . . . 5, 16, 17, 37, 39, 67, . . . . . . . . . . . . . . . 124, 350 . . . . . . . . . . . 16, 39, 124, 600 . . . . . . . . . . . 89, 601 1A . . . . . . . . 38, 601 3A-ER . . . . . 42, 601-3R . . . . . . . . 43, 604 . . . . . . . . . . . 17, 22, 117, 605 . . . . . . . . . . . 17, 31, 31, 39, 42, . . . . . . . . . . . . . . . . 43, 67, 124, 650 . . . . . . . . . . . 38, 39, 124, 850 . . . . . . . . . . . 5,

Learjet 31A . . . . . . . . . . . 89, 35A . . . . . . . . . . . 89, 36A . . . . . . . . . . . 120, 40XR . . . . . . . . . . 37, 89, 45 . . . . . . . . . . . . 18, 45XR . . . . . . . . . . 18, 29, 37, 48, 55 . . . . . . . . . . . . 89, 60 . . . . . . . . . . . . 18, 38, 43, 61, 67, 60SE . . . . . . . . . . 37, 123, 60XR . . . . . . . . . . 38, 47, 49, 70. . . . . . . . . . . . . 47, 75. . . . . . . . . . . . . 48, 124,

PAGE

II . . . . . . . . . . . . . 89, III . . . . . . . . . . . . . 89, V. . . . . . . . . . . . . . 89, X . . . . . . . . . . . . . 18, 25, 53, X +. . . . . . . . . . . . 39, 124, XLS . . . . . . . . . . . . 5, 12, 18, CJ1+ . . . . . . . . . . . 37, CJ2. . . . . . . . . . . . . 39, 85, 124, CJ3. . . . . . . . . . . . . 22, 37, 43, 47, 57, 89, CJ4. . . . . . . . . . . . 35, 38, Bravo . . . . . . . . . 43, 120, Encore . . . . . . . . 53, Excel . . . . . . . . . . 22, 53, 118, Caravan 208. . . . 38, GrandCaravanEX. 39, Jet . . . . . . . . . . . . 25, M2 . . . . . . . . . . . . 59, Mustang. . . . . . . . 42, Sovereign+ . . . . 39, 43, 182T . . . . . . . . . . 25, 206H . . . . . . . . . . 25, 89, 340A RAN VI . . . 25, 500 . . . . . . . . . . . 89, Ultra . . . . . . . . . . . 89,

CIRRUS SR22T. . . . . . . . . 25,

DAHER SOCATA TBM700A . . . . . . 81, TBM700B . . . . . . 25, TBM930 . . . . . . . 37, TBM940 . . . . . . . 37,

DASSAULT FALCON 7X . . . . . . . . . . . . 2, 5, 8, 9, 10, 17, 27, . . . . . . . . . . . . . . . 33, 39, 43, 81, 123, . . . . . . . . . . . . . . . 124, 8X . . . . . . . . . . . . 17, 20F-5BR . . . . . . . 37, 89, 50 . . . . . . . . . . . . 17, 18, 53, 81, 89, . . . . . . . . . . . . . . . 123, 50EX . . . . . . . . . . 17, 900B . . . . . . . . . . 85, 900DX. . . . . . . . . 26, 67, 900EX . . . . . . . . . 73, 900EX EASy . . . 5, 11, 17, 26, 43, 52, . . . . . . . . . . . . . . . 123,

AIRCRAFT

PAGE

900LX . . . . . . . . . 39, 124, 2000 . . . . . . . . . . 17, 2000EX. . . . . . . . 49, 85, 2000EX EASy . . 26, 2000EX EASy II . 29, 2000LX . . . . . . . . 3, 55, 2000LXS. . . . . . . 2, 3, 39,

DORNIER 328-310 . . . . . . . 44,

EMBRAER Legacy 450 . . . . 25, Legacy 500 . . . . 18, 39, 44, 124, Legacy 600 . . . . 35, 39, Legacy 650 . . . . 89, Lineage 1000 . . 35, Lineage 1000E . 81, 123, Phenom 100 . . . 22, Phenom 100E . . 22, 42, Phenom 100EV. 22, Phenom 300 . . . 59,

AIRCRAFT

PAGE

C90B. . . . . . . . . . 29, 39, 48, 89, 124, C90GT . . . . . . . . 37,

Beechcraft Premier IA . . . . . 81, 97, A36 Bonanza. . . 49,

Hawker 400A . . . . . . . . . . 89, 400XP . . . . . . . . . 22, 89, 700A . . . . . . . . . . 89, 800A . . . . . . . . . . 89, 800XP . . . . . . . . . 18, 22, 35, 39, 47, . . . . . . . . . . . . . . . 48, 53, 89, 97, 115, . . . . . . . . . . . . . . . 124, 800XPi . . . . . . . . 39, 850XP. . . . . . . . . 18, 59, 900XP . . . . . . . . . 22, 37, 97, 4000 . . . . . . . . . . 47,

HONDA Jet HA120. . . . . . 37,

IAI Astra 1125SP . . 123,

GULFSTREAM IV . . . . . . . . . . . . . 52, IVSP . . . . . . . . . . 47, 49, 85, 97, V. . . . . . . . . . . . . . 16, 67, 73, 97, 150 . . . . . . . . . . . 31, 52, 200 . . . . . . . . . . . 16, 81, 280 . . . . . . . . . . . 29, 85, 123, 350 . . . . . . . . . . . 81, 450 . . . . . . . . . . . 5, 16, 30, 39, 55, 81, . . . . . . . . . . . . . . . 97, 500 . . . . . . . . . . . 85, 550 . . . . . . . . . . . 16, 22, 27, 31, 33, . . . . . . . . . . . . . . . 35, 52, 81, 85, 97, . . . . . . . . . . . . . . . 116, 119, 650 . . . . . . . . . . . 53, 650ER. . . . . . . . . 5, 7, 31, 33, 39, 52, . . . . . . . . . . . . . . . 124,

HAWKER BEECHCRAFT King Air 250 . . . . . . . . . . . 48, 200XPR . . . . . . . 89, 300 . . . . . . . . . . . 37, 350 . . . . . . . . . . . 48, 97, A100 . . . . . . . . . . 89, B200 . . . . . . . . . . 97, C90 . . . . . . . . . . . 97,

NEXTANT 400XP . . . . . . . . . 85, 119,

PILATUS PC-12 . . . . . . . . . 39,

PIPER Cheyenne II . . . . 115, Cheyenne IIIA . . 89, Seneca V. . . . . . . 25,

HELICOPTERS AIRBUS/ EUROCOPTER EC 120B . . . . . . . 97, EC 145 . . . . . . . . 81,

AGUSTAWESTLAND AW109S Grand . 35, 43, AW139 . . . . . . . . . 119,

BELL 212 . . . . . . . . . . . 120, 412EP . . . . . . . . . 97, 412EMS . . . . . . . 120,

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Copy date for the March Issue - Wednesday 12 February 2020

122 Vol 24 Issue 2 2020 AVBUYER MAGAZINE

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2015 Falcon 7X SN267

Embraer Lineage 1000E SN190-00611

8X Replacement makes this Aircraft Available Now, Will Deliver with United States C of A, Will Deliver with New Paint and Interior, Heads Up Display / Enhanced Vision / Synthetic Vision / Etc / Etc / Etcâ&#x20AC;¦

Only 1075 Hours and 450 Cycles Since New; Preferred 19 Passenger Interior, World Wide Ready, Transferrable Warranty and Maintenance Programs

D L SO 2014 Gulfstream G280 SN2039

2004 Falcon 2000EX Easy II SN040

Single owner since new, Enrolled in all Programs (Honeywell MSP Gold & Gulfstream Planeparts), 1,628 Hours, 502 Landings, 4 Year Heavy Check completed at Gulfstream Appleton, FANS/CPDLC, ADS-B, WAAS/LPV, Well maintained, 9 place interior

ESP Gold on Engines, WAAS/LPV, ADS-B Out, CPDLC-FANS/1A, Increased Max Take Off Weight

D L SO 2005 Lear 60SE SN282

Citation Encore SN646

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

Cessna Power Advantage on airframe and Engines, Proparts, CESCOM, No damage history

Falcon 50 SN163

Astra 1125SP SN048

MSP Gold on Engines, Enrolled on CASP Avionics Program, New Exterior Paint August 2018 at WestStar, New Carpet and seat conditioning September 2018

Exceptional Pedigree, Airshow 410, Extension Fuel Tanks, External Lav Service, Increased Gross Weight Mod, AirCellST3100 Iridium Radio Telephone

www.cbjets.com ALSO AVAILABLE: Falcon 900EXy SN238 (Lease Only)

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51,000

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2017 BOMBARDIER

foot view. LEARJET 75 S/N 45-545 • 1,196 Hours; 1,168 Landings

• Garmin G5000 Avionics Suite Up here, the air and the competition are rare.

Our birds-eye view of the • Digital Flight Data Recorder

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2013 DASSAULT

www.jetcraft.com I info@jetcraft.com I Headquarters +1 S/N 919-941-8400 FALCON 7X 141 • 637 Hours and 162 Landings • Engine Enrolled on ESP Gold • ADS-B Out Compliant

2001 BOEING BUSINESS JET S/N 32774

2006 BEECHCRAFT HAWKER 800XPi S/N 258767

• 4,865 Hours; 1,840 Landings •2 C-Check Completed in Nov ‘19 •R epainted and Refurbished in 2018

• 9,279 Hours; 5,760 Landings • Engines/APU Enrolled on MSP Gold • Fresh 12 month Inspection

Q2 2020 BOMBARDIER GLOBAL 6500

RENDERING

2018 BOMBARDIER GLOBAL 6000 S/N 9800 • 308 Hours; 159 Landings •A irframe, Engines & APU on Programs • Hangared Since New

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

• Delivery Time & Cycles • Transferrable Bombardier Warranty • I ncreased Range/Performance vs 6000

I N FO @ JETC RAF T. CO M

2-2020_AVBuyer_Back Cover_Smoothest Connections.indd 1

ALSO AVAI L ABLE 1994 KING AIR C90B FEATURED 2015 BOEING 787-9 2012 CHALLENGER 300 2019 CHALLENGER 350 2009 CHALLENGER 605 2016 CHALLENGER 650 2018 GLOBAL 5000 2016 GLOBAL 6000 2011 GLOBAL XRS 2003 CITATION CJ2 2014 CITATION X+ 2014 FALCON 900LX 2006 HAWKER 800XPI 2016 GULFSTREAM G650ER 2018 LEGACY 500

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