AvBuyer Magazine October 2018

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October 2018

â„¢

B U S I N E S S

A V I A T I O N

I N T E L L I G E N C E

THIS MONTH Aircraft Comparative Analysis: Cessna Citation CJ4 vs Embraer Phenom 300/300E proudly presents

Gulfstream G450 Serial Number 4159

Visit Avpro at NBAA in Orlando See pages 12 - 15 for further details

Dealer Broker Market Update Five Questions for Sergio Aguirre, Gogo www.AVBUYER.com

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Editor Welcome Sept18.qxp_JMesingerNov06 19/09/2018 15:46 Page 1

Guest Editor’s VIEWPOINT

Jared Maynard

The Connectivity Shift: It’s Faster Than Expected! ell, it’s that time of year again. The point that everyone in the industry uses to reflect on the success of the past year and share their plans for the next. NBAABACE 2018 is upon us.

It’s no secret that satellite connectivity is one of the hottest topics in Business Aviation lately. So, let’s take a look back at 2018 and share some thoughts on what’s next in 2019.

Looking at the numbers, this year has been all about growth. Average data usage per flight hour and total data consumption continues to increase across all satellite networks, and the number of new equipment installations and upgrades has also skyrocketed.

Ka-band satellite has produced the most dramatic gains, with a 250% increase in installed systems and double-digit growth in consumption month after month since last year’s NBAA-BACE. A mix of new technology, increased satellite capacity and market competition have also led to increased performance and significant drops in cost.

When compared to L-band satellite, modern Ku- and Ka-band systems provide up to 35 times more speed with reductions in cost per Mb greater than 90%.

This massive jump in speed also supports new capabilities like streaming video, video conferencing and simultaneous web-browsing for multiple users.

Many operators have taken full advantage of this new performance, and some continue to push the envelope. Just a few months ago, an aircraft used over 59Gb on a single flight! (That’s more data than most operators use in an entire year on L-band systems.)

W

Looking Ahead

There are no signs of stopping. Society’s rising dependency on the internet will only fuel more demand. I believe we are right in the middle of a transition in which Wi-Fi on business aircraft is moving from a luxury to a necessity. Charter aircraft without Wi-Fi are at a disadvantage. Business executives can’t

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AVBUYER MAGAZINE – October 2018

afford to be disconnected. Cloud computing is status quo, and social media is literally changing the world.

Our homes and businesses have Wi-Fi. Coffee shops have Wi-Fi. Cars and buses have Wi-Fi. I haven’t seen a hotel without Wi-Fi in years. It’s only a matter of time before the constant connectivity we have grown accustomed to on the ground becomes commonplace on all business aircraft.

“Many operators have taken full advantage of this new performance, and some continue to push the envelope.”

If the current trends continue, this shift will happen a lot faster than any of us expected.

More good news is that the number of networks, equipment options and services providers for business aircraft connectivity continues to expand. Operators that only had a handful of options a few years ago now have dozens of potential combinations. This increases competition, adds value and boosts innovation.

As you walk around the exhibits at NBAA-BACE this year, I encourage you to take some time to learn about the numerous connectivity options that are available. Keep an eye out for new products and announcements. Plan for your future and consider the benefit of technology on your operational efficiency, passenger experience and aircraft value. T Jared Maynard manages Satcom Direct’s Aircraft Resale Program, which provides connectivity support and technical services for appraisers, brokers, lenders and other businesses involved with pre-flown aircraft transactions.

More from www.satcomdirect.com

www.AVBUYER.com

Aircraft Index see Page 153

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Contents Layout September18.qxp 19/09/2018 15:41 Page 1

Volume 22, Issue 10

October

2018

Contents

EDITORIAL Commissioning Editor Matthew Harris +44 (0)20 8939 7722 editorial@avbuyer.com

Operating

Consulting Editor Sean O’Farrell +44 (0)20 8255 4000 sean@avbuyer.com

BizAv Intelligence

16 34 42

Business Aviation Market Summary: A collection from the leading market analysts…

How’s the Seller’s Market Shaping BizJet Buying Activity? Here’s what the dealers and brokers say What’s the Potential for BizAv Consolidation? Mike Chase assesses JETNET data for historic precedents

Ownership

50

How to Choose the Best Used Jet for You: Two jets, similar specs – how do buyers pick the best buy…?

56

What to Know When Assessing Aircraft Value: Jet Tolbert discusses avoiding major financial pitfalls

60

Ten Tips for Buying Your Ideal Private Helicopter: Mark Clancy’s best advice for landing the best rotorcraft

66

Millennials in BizAv - Opportunities and Changes: How will the industry adapt to the Millennials?

70

Aircraft Values: Average Medium jet values for aircraft aged 20 years and younger

76

82

Aircraft Specifications: Performance and specifications comparisons for Medium jets aged under 20 years Cessna Citation CJ4 vs Embraer Phenom 300/300E: Where does each model excel in today’s marketplace?

90

96 104

Five Questions for Sergio Aguirre: AvBuyer talks connectivity with Sergio Aguirre, President, Gogo Business Aviation What’s Your Avionics Panel Worth Today? Jeremy Cox offers insight on avionics appraisal LPV: Is it Really Worth the Upgrade Cost? Mario Pierobon speaks with BendixKing to find out more.

108

How to Hire & Keep Pilots Without Breaking the Bank: Pilot retention is about more than just pay…

112

What are Your Aircraft Upgrade Priorities (Part 3)? A discussion on specific priorities, return on investment and timing

118

When Does an Upgrade Improve an Aircraft’s Value? What constitutes a refurbishment overspend?

Community News

124

• • •

BizAv Review: OEM News and Industry Appointments from around the BizAv Community

Next Month

Becoming an Aircraft’s Last Owner Money Saving Tips for Your Aircraft Maintenance What’s My Airplane’s Salvage Value The best aircraft for sale search anywhere, everywhere on pc, smartphone and tablet.

I P

I B

I E

Visit the AvBuyer team at NBAA-BACE 2018 - Booth 2009 10

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Editorial Contributor (USA Office) Dave Higdon dave@avbuyer.com

ADVERTISING Lee McLoughlin Freephone from USA: +1- 855 425 7638 lee@avbuyer.com Liam Robinson Freephone from USA: +1- 855 425 7638 liam@avbuyer.com Lise Margin +1- 703 818 1024 lise@avbuyer.com Maria Brabec (European Sales) +420 604 224 828 maria@avbuyer.com UK Sales +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 Aircraft Index see Page 153

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BIZAV INTELLIGENCE T MARKET INDICATORS

Business Aviation Market Overview

As the industry prepares to head to Orlando for NBAA-BACE, what are the notable points about today’s new and used business aircraft sales market? Rolland Vincent reflects… any in the Business Aviation community will be traveling to Orlando, Florida in October to gather at the annual NBAA Business Aviation Convention and Exhibition, the largest gathering of its kind of leaders and decision-makers in the industry, and an ideal location for aircraft buyers and sellers to cross paths and (hopefully) close some year-end deals.

With optimism levels presently the highest recorded in almost eight years of conducting JETNET iQ Surveys, business aircraft owners/operators will be courted by aircraft sales and marketing folks who are mutually interested in agreeing to the details of new aircraft purchase contracts.

Fuelled in part by US tax and depreciation law

M

16

AVBUYER MAGAZINE – October 2018

changes that are widely seen as being businessfriendly, the mood amongst aircraft owners/operators in the US is translating into higher orders for new aircraft.

Purchase interest in used aircraft is also very strong, but inventory availability of the most attractive models – especially those built within the last five years – is about as scarce as an available slot for a Cessna 172 VFR arrival at JFK or LHR. Asset Insight’s analysis of the quality of the available inventory (see article beginning on p26, and particularly the analysis of Maintenance Exposure to Asking Price) makes for some illuminating reading on this topic. Suffice it to say that, as a prospective buyer, the recent “good ol’ days” of plenty of available inventory at attractive and downwardly negotiable price points are

www.AVBUYER.com

Aircraft Index see Page 153

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Rolland Vincent is President, Rolland Vincent Associates, LLC (RVA), a consultancy focused on aviation market research, strategy, and forecasting. RVA’s client base includes the world’s foremost civil aircraft and engine manufacturers, aerospace suppliers, aviation service providers, fleet operators, lenders / lessors, and the investment community. With 35+ years in the aviation industry, Rollie has served as a trusted consultant at Textron, Bombardier and ICAO in various roles. RVA also partnered with JETNET in 2010 to create JETNET iQ, a respected source of independent market intelligence.

Contact him via rvincent@rollandvincent.com

already consigned to the history books.

New business jet orders in H1 2018 came in substantially ahead of the same period last year, according to various quarterly earnings filings.

Evidence has been building over the past 12+ months that optimism has actually begun to transition into actual airplane sales – the Holy Grail of aircraft transactions professionals.

US-Centric Market

The market continues to be very US-centric, and we expect that this will continue to be the case for the time being, especially with mounting concerns about Brexit and the weakening of many currencies relative to the US Dollar.

Although there is much talk about the potential for other currencies (most notably the euro), to take on the role of the Dollar as the de facto international reserve, talk is always cheap and no serious challenge to the Dollar is apparent on the horizon (despite what Blockchain proponents might try to make you believe).

Most economists are predicting that GDP growth rates in 2019 will be lower than actual performance this year, especially in countries where Advertising Enquiries see Page 10

the vast majority of business aircraft are based. We are expecting that deliveries of new business jets will be down somewhat in 2018 versus 2017, largely driven by the lull that occurs as manufacturers transition from older legacy models to newly certified designs.

Delays in achieving certification (often due to differing interpretations between the OEMs and the regulatory authorities on what constitutes various new certification requirements) are major contributors to the slower-than-expected production recoveries at several OEMs.

Projection Going Forwards

We are, however, expecting a relatively strong finish to the year for aircraft sales, and – barring any major market disruptions like an escalating international trade war – an even better 2019. With much of the reported order backlog for the industry at just a handful of manufacturers, we are expecting overall production rates to increase modestly in 2019 and again in 2020.

Pricing for new and used aircraft should continue to firm up, as the transition to a ‘seller’s market’ that has been occurring over the past 12 months becomes rooted in the minds of folks on both sides of the aircraft transaction table.

In Orlando during October, efforts will be focused on arriving at “the right price” for today’s marketplace; a price that has shifted upwards since the last time the industry gathered at NBAA-BACE in Las Vegas a year ago.

MI www.navigating360.com

www.AVBUYER.com

continued on page 22

October 2018 – AVBUYER MAGAZINE

 17

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BIZAV INTELLIGENCE T MARKET INDICATORS

Flight Activity - North America TRAQPak’s review of August 2018 vs.

August 2017 Year-over-Year flight activity for North America indicates an increase of 2.1%. August 2018 was also up, as expected, over July 2018 activity…

Year-over-Year (YoY), the results by operational category were mixed with Part 91 activity providing the largest increase.

Though Part 135 activity showed a nominal gain, Fractional finished flat for the period.

The aircraft categories were mostly positive with Mid-size jets posting the largest gain from 2017. Large jets and

Turboprops posted increases while Light jets posted a YoY decrease.

Month-over-Month

Month-over-Month (MoM), results by operational category were all positive, with the Part 91 segment posting the largest monthly increase. Aircraft categories were all positive too, with Mid-size jets posting the largest increases.

September Forecast

Looking ahead, TRAQPak analysts estimate there will be a 1% increase in overall flight activity YoY in September 2018.

MI www.argus.aero

AUGUST 2018 vs AUGUST 2017 North America Flight Activity

PART 91

PART 135

FRACTIONAL

ALL

TURBOPROP

6.4%

-0.7%

-0.8%

3.1%

LIGHT JET

3.2%

-6.9%

-5.8%

-1.6%

2.6

-2.5%

9.4%

4.2%

LARGE CABIN JET

0.8%

14.5%

-24.0%

1.9%

ALL

3.8%

0.4%

0.0%

2.1%

MID-SIZE JET

AUGUST 2018 vs JULY 2018 North America Flight Activity

PART 91

PART 135

FRACTIONAL

ALL

TURBOPROP

7.5%

4.7%

8.9%

6.4%

LIGHT JET

9.3%

6.2%

0.3%

7.1%

10.4%

7.8%

5.1%

8.2%

LARGE CABIN JET

8.6%

5.2%

-1.3%

6.4%

ALL

8.8%

5.9%

3.7%

7.1%

MID-SIZE JET

Flight Activity – Europe

August saw 83,230 Business Aviation departures in Europe, down -8% on July’s peak. Nevertheless, it was the busiest August in the last decade, and was up 2.4% over August 2017. Here’s what happened…

Most of the growth in August came from business jets (65% of all activity), which are up 4% YoY. The busiest market, France, was down by 3% YoY, while Spain also saw a 4% decline. Offsetting growth came from Italy (4%), the UK (6%) and Germany (9%). Year to Date (YTD), all top six markets are up compared to 2017, France by the least and Germany by the most.

Among the smaller markets, there was double digit YoY growth in Netherlands, Portugal, Finland – and a 75% increase in Business Aviation flights from Montenegro. YTD, Greece has recorded the strongest rebound with flights up by 10% over the first eight months of 2017.

Business Aviation demand in France continued to decline for Large jets, and Spain saw a 12% decline in YoY flights in this Segment. The UK added the largest number of additional Large jet flights for August. Meanwhile, in Small and Midsize activity, Germany was up by 11%. Overall, two business jet segments stood out: Super-Mid-size jet activity was up by 22% YoY while the VLJ sector fell 15%.

Domestic European flights were up 2.5% for August, in line with the YTD trend of 3%, but with considerable regional variance.

“August showed a continuation of the now-familiar pattern for European Business Aviation activity: growing demand for Charter flights but a flat trend in Private activity,” summarized Richard Koe, Managing Director, WingX Advance.

MI www.wingx-advance.com continued on page 24



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22

AVBUYER MAGAZINE – October 2018

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BIZAV INTELLIGENCE T MARKET INDICATORS

Emerging Markets Weigh on Bizjet Sales They were the heroes of the 2009 financial crisis, but a decade later the emerging markets are themselves struggling, notes Business Aviation analyst Brian Foley.

“Without them, the rout in worldwide business jet unit deliveries, which roughly halved between 2008 and 2012, would have been far worse, if that’s even imaginable” he adds.

“Today however, these regions have their own set of challenges that will dampen business jet sales activity outside of the more mature economies.”

While initially off to a good start in 2018, emerging market stock market indices have since taken a turn for the worse. The MSCI Emerging Markets Index, which is designed to measure the combined stock performance of 24 emerging market countries, is currently flirting with a 20% loss since its January peak, a correction defined as a bear market.

Within this MSCI Index, key business jet markets such as China (-21%), Brazil (-25%) and Argentina (-48%) were already in bear territory in mid-August. Others like Russia (-15%) and Mexico (-6%) had not yet fallen as far. When local stock markets decline, it’s typically accompanied by less buyer willingness to spend on a multimilliondollar aircraft asset.

Another headwind for aircraft sales in emerging markets has been local currency devaluation. “Since business jets are priced in dollars, it now takes a lot more local currency to buy one which has a negative impact on sales,” Foley continues. Moreover, heightened trade tensions, areas of political and economic turmoil, tepid commodities prices, debt coupled with the end of the cheap money era and a recession in South Africa have all added to the vulnerability of emerging markets.

- nearly a halving of emerging market business jet uptake. “I would expect that percentage to go even lower in 2018 and not see a meaningful uptick for a few years,” Foley projects.

Fortunately for the industry the world’s largest market is North America, where 65% of the world’s business jet fleet is based, according to market data provider AMSTAT. Some business jet OEMs now report a positive book-to-bill ratio, which means that the sales in mature markets are offsetting the delivery drop off in emerging markets.

Today’s business jet market is now more globally diversified than ever. As worldwide economies are cyclical and not always synchronized, this allows pockets of strength to support the industry while giving areas of weakness time to regroup.

“While difficult to imagine now, it’s just a matter of time before emerging markets will again be a major contributor to private aircraft sales.

With developed economies in an upswing, the industry has the luxury of waiting for at least a while.”

MI www.brifo.com

UBS: Bombardier to Reclaim Large Jet Share

Bombardier is poised to claw back market share from Gulfstream in the Large-Cabin business jet market, thanks to new products that have numerous ties to Wichita, says UBS Global Research…

According to a report from AIN, analysts with UBS expect Bombardier’s share in that segment to grow from around 33% last year to potentially more than 40% by 2020 because of new and updated aircraft (including the all-new Global 7500).

UBS also projects growth on the back of the recently unveiled Global 5500 and 6500 programs, with those variants expected to hit the market in 2019.

MI www.ubs.com

ADS-B Compliance Update Duncan Aviation’s market research team has run the numbers and found that although the FAA’s deadline for upgrading Business Aviation aircraft to ADS-B is less than 16 months away, 52% of the aircraft in the industry have yet to comply.

Roughly 14,000 business jets still need the mandated upgrades. The Business Aviation industry is still predicting shortages of qualified technicians, hangar space, and equipment, and some of Duncan Aviation’s Satellite Avionics Shops are full through the rest of 2018 and into Q1 2019.

If you haven’t yet upgraded but don’t want to be flying low or sitting on the ground come January 1, 2020, you’ll need to schedule your time to upgrade to ADS-B. Moreover, aircraft buyers must be very clear on the status of a prospective aircraft purchase in relation to ADS-B at this time.

MI www.duncanaviation.aero

Dwindling New Shipments

According to GAMA, 35.1% of total business jet deliveries back in 2010 went to emerging market stronghold regions of Asia-Pacific, Latin America, Middle East and Africa. In 2017, that percentage had dwindled to just 19.2%

continued on page 26

24

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Aircraft Index see Page 153



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BIZAV INTELLIGENCE T MARKET INDICATORS

In-Service Aircraft Values & Maintenance Condition

Table A

Fleet Maintenance Condition

5.30

Asset Insight’s market analysis on August 30, 2018, covering 93 fixed-wing models and 1,592 aircraft listed ‘For Sale’, revealed a 0.9% decrease (14 units) to the tracked fleet. Meanwhile, the fleet’s average Ask Price increased slightly in August.

Specifically, the tracked Medium jet inventory decreased -5.5%, while Large jets and Turboprops increased 3.0% and 1.8%, respectively. The Small jet inventory remained unchanged.

Traded jets and turboprops continued to represent aircraft carrying a higher ‘Quality Rating’. This was particularly evident with respect to Turboprop transactions in August, while new additions to the inventory fleet ‘For Sale’ were of lower asset quality.

By fleet average and individual group, values have changed as follows: • • • •

$1.45

5.227

5.10

$1.45

O

N

D

J

F

M

A

Maintenance Exposure

M

J

J

A

$1.40 $1.35

Quality Rating Trendline

Table B LOW RISK AIRCRAFT MODEL ETP RATIO G650 2.9% Boeing BBJ 3.8% Phenom 300 9.6% F2000LX 9.8% Citation CJ4 525C 10.3% F900EX EASy 12.3% Challenger 605 12.7% Citation CJ3 15.6% G450 15.8% Citation Encore + 15.9% Citation CJ4 525C (MSG3) 17.0% G150 17.1% Citation Sovereign 680 17.3% Falcon2000EX EASy 17.6% G550 17.7% Pilatus PC-12 19.0% Citation XLS 19.6% Citation CJ2+ 525A 19.6% KingAir 350 - Post-2000 21.6% Global XRS 21.9% Hawker 900XP 22.0% F900DX 23.0% F900C 24.3% Piper Meridian 25.0% Citation CJ2 25.8% 27.0% Challenger 300 F900EX 27.3% Learjet 45XR 28.5% Citation Encore 29.3% Citation Mustang 510 30.5% KingAir B-200 - Post-2000 31.1% Learjet 60XR 32.7% Hawker 850XP 33.1% Phenom 100 33.3% Falcon 50EX 33.8% Embraer Legacy 600 35.7% F900B 36.7% Citation CJ1+ 37.4%

The tracked fleet’s Quality Rating remained within the ‘Very Good’ range, according to Asset Insight, with the figure improving to 5.227, on its scale of -2.5 to 10, reflecting a reduction in the number of upcoming maintenance events for inventory aircraft.

Maintenance Exposure

At the same time, average Maintenance Exposure (an aircraft’s accumulated/embedded maintenance expense) worsened 2.3% to $1.454m, as the inventory fleet’s upcoming maintenance events are anticipated to be more expensive.

Maintenance Exposure to Ask Price (ETP) Ratio

AVBUYER MAGAZINE – October 2018

S

Quality Rating

Quality Rating

26

$1.50

5.20

Large jets were the only group to post both a Quality Rating and Maintenance Exposure improvement.

Small jets posted a Quality Rating improvement for the first time in four months.

Medium jets and Turboprops deteriorated.

Small jets, Medium jets and Turboprops all experienced a Maintenance Exposure degradation.

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

‘Days on Market’ analysis has shown that when an aircraft’s ETP Ratio is greater than 40% its time on the market increases usually by more than 30%. Asset Insight’s August analysis revealed that 54.2% of all tracked models and 66.8% of the fleet posted an ETP Ratio in excess of 40%.

The tracked fleet’s ETP Ratio has now worsened for five consecutive months, posting a record-high (worst) 72.3%, following July’s 67.4% (the previous record-high figure).

• Turboprops accounted for the lowest (best) ETP Ratio at 53.2%, albeit the group’s highest (worst) 12-month figure; • Large jets followed at 60.4%, a slight improvement over last month’s 62.1%; • Medium jets posted a record-high 80%, a substantive deterioration from last month’s 70.2%; and • Small jets worsened for the fifth consecutive month to 84% from 76.5%. continued on page 28

$ Million



HIGH RISK AIRCRAFT MODEL ETP RATIO KingAir 350 - Pre-2001 Hawker 400XP CL-604 Global 5000 Premier 1A KingAir 300 Citation Excel 560XL KingAir B-200 - Pre-2001 Learjet 45 w/APU Piaggio P-180 II F900 GV Citation Bravo Citation X (MSG3) GIV-SP Citation V 560 Falcon 2000 Premier 1 Hawker 800XP Hawker Beechjet 400A G200 Learjet 45 GIV-SP (MSG3) Citation V Ultra Hawker 1000A Falcon 50 Piaggio P-180 Global Express Citation VI KingAir C90 Learjet 60 G100 Citation ISP Citation II Beech B-1900C GIV Hawker Beechjet 400 Hawker 800A CL-601-3A CL-601-3R Learjet 31 CL-601-1A Learjet 55 Learjet 35A Falcon 20-5

40.2% 42.5% 43.3% 44.1% 45.4% 45.4% 45.6% 48.0% 49.8% 54.7% 55.1% 57.3% 58.3% 59.3% 59.3% 59.4% 59.9% 60.6% 61.2% 65.4% 66.5% 66.8% 76.5% 81.2% 89.8% 91.4% 92.0% 100.7% 105.8% 107.9% 115.7% 115.9% 119.3% 126.2% 129.0% 153.6% 154.2% 159.0% 165.8% 173.4% 174.4% 197.6% 225.4% 235.6% 326.8%

Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of August 30, 2018

www.AVBUYER.com

Source: AMSTAT (www.amstatcorp.com) Asset Insight, LLC (www.assetinsight.com)

Aircraft Index see Page 153

EAGLE AVIATION +1 803.822.5520 SALES@EAGLE-AVIATION.COM EAGLE-AVIATION.COM

1999 CITATION EXCEL • 560-5022

2000 CITATION EXCEL • 560-5080

2001 CITATION CJ1 • 525-0422

1997 CITATION CJ • 525-0218

2000 LEARJET 31A • 31A-204

2002 DORNIER 328JET • 3205

2008 CIRRUS SR22 G3 GTS • 3121

2005 CESSNA T182T • T18208376

1981 CESSNA T182R • 18268723

1999 CESSNA 182S • 18280516

MarketIndicators Oct18.qxp_Layout 1 19/09/2018 10:31 Page 6

BIZAV INTELLIGENCE T MARKET INDICATORS

Large Jets Ask Price vs. Maintenance Exposure *

Asset Quality Rating

$ Millions

Scale -2.500 to 10.000

Asset IInsight A i h A August M Market k S Summary

The current transaction environment seems to be segregating aircraft into three categories: • Those under 10 or 12 years of age, assets that transact quickly and at good prices (from a seller’s perspective).

• Aircraft aged 15 years or more, whose future at any ‘reasonable’ pricing level is unlikely (from a seller’s perspective).

• Assets that are between ten and fifteen years old, whose ability to transact at a reasonable price depends heavily on the seller’s ability to demonstrate ‘good value’.

Following are some August observations on each category…

Large Jets Inventory aircraft increased by 10 higher-quality units pushing the fleet’s Quality Rating well into the

‘Excellent’ range with a 12-month high rating of 5.470.

The newest additions to inventory also helped lower the group’s Maintenance Exposure by 4.6%, improving overall value in the available asset pool, especially when considering that Ask Prices decreased slightly.

Medium Jets

The inventory fleet decreased by 29 units with transactions favoring higher-quality aircraft. The group’s Quality Rating decreased a nominal 0.83%, but it was enough to push the group down into the ‘Very Good’ Quality Rating range from the ‘Excellent’ range it attained in July.

Maintenance Exposure followed suit, worsening 8.5%. Meanwhile, average Ask Price posted a recordlow figure.

Prospective buyers that were unable to close a deal this past month will have to work a bit harder to identify good values for the time being.

Medium Jets Ask Price vs. Maintenance Exposure *

Asset Quality Rating Scale -2.500 to 10.000

$ Millions

28

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Aircraft Index see Page 153

MarketIndicators Oct18.qxp_Layout 1 19/09/2018 10:34 Page 7

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

Scale -2.500 to 10.000

Small Jets

The number of Small jet inventory units remained unchanged in August. The ‘For Sale’ fleet’s Quality Rating improved 2.41% to enter the ‘Excellent’ range, but Maintenance Exposure increased (worsened) by 7.1%, a 12-month high figure.

Put succinctly, transacting aircraft and new additions have resulted in an inventory pool whose aircraft have fewer, but costlier upcoming events.

While this makes identifying good value more challenging for buyers, sellers can only hope that increasing Ask Prices will turn into higher transaction values.

Maintenance Exposure increased 1.8% (both of which are 12-month worst figures).

Quality Rating remained in the ‘Good’ range and Ask Price reflected the group’s 12-month average figure, so finding a good value is still possible, although a bit more challenging than usual.

MI www.assetinsight.com T

Turboprops

Asset Insight’s tracked inventory fleet increased by five units in August, and buyers did their homework in identifying good values. As proof, the group’s inventory Quality Rating decreased 2.7%, while

Turboprops Ask Price vs. Maintenance Exposure *

Asset Quality Rating

$ Millions

Scale -2.500 to 10.000

Ask Price Source: Amstat Asset Insight Analytics * The accrued cost of future scheduled maintenance Advertising Enquiries see Page 10

www.AVBUYER.com

October 2018 – AVBUYER MAGAZINE

29

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2012 LINEAGE 1000 S/N 19000317

1’802 TT, Engines on GE Onpoint Program, 19 Passengers

Make Offer

2007 LEGACY 600 S/N 1450-0995

4’319 TT, EASA, Airframe, Engines & APU on Program, 13 Pax.

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2003 FALCON 50EX S/N 334

3’801 TT, MNPS, RNP 5, RNP 10, 8-RNAV, JSSI, 9 Pax.

Make Offer

1993 KING AIR B200 S/N BB-1462

3’842 TT, ENG TT 1’063, Fresh LDG OVH & 6 Years Check

Make Offer

2013 LEGACY 650 S/N 1450-1161

1’386 TT, CAAC, Engines on Program, CPDLC, WiFi, 13 Pax.

Make Offer

2015 LEGACY 600 S/N 1216

3’505 TT, JSSI-Platinum, CPDLC, Wi-Fi, 13 Passengers

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2001 CESSNA CITATION CJ2 S/N 17

6’600 TT, RVSM, EASA, Fresh DOC 10 & ENG OVH, 6 (+ 1) Pax.

$2’500’000

2010 AW109S GRAND S/N 22162

1’445 TT, Freshly Refurbished, Fresh New Paint, 5 + 1 Pax.

Make Offer

Project1_Layout 1 24/09/2018 11:27 Page 1

Project1_Layout 1 24/09/2018 11:28 Page 1

BizAv Buying Oct18.qxp_Finance 19/09/2018 09:46 Page 1

BIZAV INTELLIGENCE T BUYING & SELLING

How is the Sellers’ Market Shaping BizJet Buying Activity?

According to a selection of business aircraft dealers and brokers, the current sellers’ market isn’t slowing down sales. Discover what the anecdotal evidence reveals of today’s market. Dave Higdon reviews... s we enter Fall 2018, one factor continues to drive prices in the used business jet and turboprop markets: Supply. Tight supplies constitute a sellers' market, edging prices upward while the bargains are drying up.

Expect this status to last if operators continue to increase their utilization at the high levels they’ve flown so far this year.

With deliveries of new business aircraft up slightly (thanks to a big boost in turboprop

A

34

AVBUYER MAGAZINE – October 2018

shipments against flat business jet sales) and retirements at a low ebb, the business aircraft fleet continues to grow incrementally. New users of business jets absorb the capacity increases and help boost operations, all while assuring the used jet and turboprop market remains tight.

Supply Shrinkage Continues

JETNET's recent market summary for the first half of the year revealed only a tiny gain in used business jet sales (0.2%), while turboprop sales

www.AVBUYER.com

Aircraft Index see Page 153

BizAv Buying Oct18.qxp_Finance 18/09/2018 14:34 Page 2

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

matched the first six months of 2017. Jets sold faster (by 26 days), while turboprops sold more slowly (by 13 days).

It's in the percentage of the fleet available ‘For Sale’ that we see where the squeeze comes into play, though. Only 9.1% of the business jet fleet and 6.6% of the business turboprop fleet were available ‘For Sale’, down 1.7% and 1%, respectively.

Meanwhile flight hours increased among LargeCabin jet operators by 3.8% in H1 2018; Mid-size jets flew 2.9% more; Turboprops increased their hours by 1.9%; and Light jets logged a 1.5% utilization increase.

Together, the numbers paint a solid picture of demand outpacing supply, sustaining the tight market of today. Forecasts point to a near 1% gain in operations for Q3 2018 and higher growth in Q4.

Utilization and Demand Matching

A number of dealers and brokers around the country indicated that demand for Large-Cabin jets – though dropped from its peak of a few years ago – remains healthy, but below the current demand for Mid-size jets. Interest in Light jets remains lower.

Advertising Enquiries see Page 10

“If there's a notable change overall,” offered a West Coast broker, “it's in the international markets. China is still the most-promising of the Pacific Rim countries, but their interest seems to have plateaued from what it was four to five years ago.

“We believe that's because would-be operators are waiting for airports development to start catching up with the need.”

An East Coast dealer observed something similar for Africa and the Indian Sub-continent: “Infrastructure and security need to catch up before we can expect those markets to resume their previous levels of buying activity.”

Sitting on the Sidelines...

A Midwest broker noted that one of his clients wants the right deal on a Light jet while another wants the “best deal possible” on a single-engine Turboprop. “It doesn't happen often but both of these prospects/buyers asked us to help them arrange lift when they needed it, while taking a measured approach to finding them their aircraft.

“One is wet leasing an aircraft and crew, the other is using charter. Neither wants us to rush into a deal for the sake of finishing a deal,” he explained.

www.AVBUYER.com



October 2018 – AVBUYER MAGAZINE

35

BizAv Buying Oct18.qxp_Finance 18/09/2018 14:40 Page 3

BIZAV INTELLIGENCE T BUYING & SELLING

“We're in this tight market because people are buying – in spite of paying more than they wanted or planned...”

- West Coast Broker “If you look at some of the smaller, moreregional fractional programs you should notice that they're continuing to sustain growth, adding members, growing operators and converting some would-be buyers into confirmed fractional owners,” noted a broker from the mid-Atlantic region.

“One of these clients thought they wanted outright ownership, but couldn't find the deal that fit their finances and decided to go with a regional fractional provider. They discovered that the finances and utility made better sense for them than outright ownership.

“Someday they may reassess their fractional position and decide the time is right to become a sole owner. We'll be here to make that deal for them.”

[Meanwhile, yet another new regional fractional operation launched its business in early September. Jet It, a HondaJet operator based out of Greensboro, North Carolina, plans to station its HondaJet fleet up and down the eastern seaboard, giving would-be operators yet another option for using a fast, low-cost business jet.]

Another broker in the western US made a prospect happy by suggesting a fast Turboprop single – with options available – when his firm couldn't find a Light jet to satisfy the prospect.

“We had a couple of close-but-not-quite candidates, but at one viewing, a big Turboprop single taxied up, the client looked it over and liked its space better.

“We showed him that the turboprop made the jet trip in only 15 more minutes, on about 25% less 36

AVBUYER MAGAZINE – October 2018

fuel. And the client got an airplane for less than they’d planned.”

It's not That Nobody’s Buying...

The elements of a sellers’ market (high demand, small supply) usually include higher selling prices, putting a drag on sales. But that drag seems absent this time, according to our dealers and brokers.

“We're in this tight market because people are buying – in spite of paying more than they wanted or planned,” explained our West Coast broker. “If no one bought, asking prices would start going down – or at least stop going up. And that's not what's happening here.”

Prospects lucky enough to find what they want at an acceptable price point seem averse to dallying and exposing their deal to the risk of another buyer bidding up the price – so that buyer can get what they want and move the process ahead.

Meanwhile, some prospective buyers continue to watch from the ramps, knowing that several new models nearing certification and delivery will shake loose some attractive late-model, well-equipped and low time trade-in aircraft.

But many of those jets will have ready buyers queued up. “They won't stay on the market long,” observed the East Coast broker. “In fact, don't be surprised if many of them never show up as actively being ‘For Sale’. There’s a good chance that sellers will have already found a buyer patiently waiting for the old jet to move out of its hangar, making room for the new jet.” T

www.AVBUYER.com

Aircraft Index see Page 153

Avjet FP October.qxp_Layout 1 19/09/2018 11:41 Page 1

Avjet multi October.qxp_Layout 1 19/09/2018 11:41 Page 1

1986 Boeing 767-200ER SN 23402

2000 Boeing 757-256 SN 29306

2016 Boeing BBJ SN 61040

2016 Global 6000 SN 9744

1998 Falcon 50EX SN 268

1997 Bell 430 SN 49048

LOS ANGELES MARC J. FOULKROD +1 (818) 480-9964

SALES | ACQUISITIONS | CONSULTING AVJETGLOBAL.COM

WASHINGTON D.C. ANDREW C. BRADLEY +1 (410) 626-6162

OEM June.qxp_Finance 19/09/2018 09:48 Page 1

BIZAV INTELLIGENCE T OEM REVIEW

What’s the Potential for Future BizAv Consolidation?

Will the wave of joint ventures seen in the commercial and

regional airline markets spread to the business jet market?

Mike Chase assesses in his latest JETNET>>KNOW MORE feature… e have seen consolidation by Bombardier and Airbus, followed by Boeing and Embraer in recent months within the regional airline market. The hot question within the industry is whether we’re likely to see this same trend emerge in the business jet marketplace.

Since 1955, business jet OEMs have seen a reduction in the number of companies from 24 to 13 today. Behind the reduction has been a mixture of ceased production and consolidation. Nevertheless, we have experienced an expansion in the last decade of new and upstart business jet OEMs in the Entry Level (Light and Very Light) jet market.

W

42

AVBUYER MAGAZINE – October 2018

Table A (overleaf) displays the long history of business jet manufacture, spanning 60 years.

Following the emergence of the early business jet manufacturers in the 1950s, the 1960s saw eight new entrants join the market; three in the 1970s; four in the 1980s; two in the 1990s; two in the 2000s; and four since 2010.

Over this long history 11 OEMs (including Eclipse that restarted as One Aviation) ceased production.

However, several purchased other OEMs, including General Dynamics (Gulfstream and IAI); Bombardier (Learjet and Canadair); and Textron (Hawker Beechcraft and Cessna). 

www.AVBUYER.com

Aircraft Index see Page 153

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OEM June.qxp_Finance 18/09/2018 14:46 Page 2

BIZAV INTELLIGENCE T OEM REVIEW

Business Jet Industry Consolidation

Table A: History of Business Jet Manufacturers

Y E ARS ACTIVE

CU RRENT OWNER

COMMENTS

BUSIN ESS JET OE M s F ROM

TO

Morane-Saulnier

1955

1967

Stopped Production – Paris Jet

Gulfstream

1958

Current

Produces Large/Mid-size Business Jets

None GD

Lockheed Jetstar

1961

1980

Stopped Production - Jetstar

None

Rockwell

1963

1982

Stopped Production – Sabreliner

None

Lear

1963

Current

Produces Mid-size/Small Business Jets

Bombardier

Hawker Siddeley

1964

1976

Produces Mid-size/Small Business Jets

None

Dassault*

1965

Current

Produces Large/Mid-size Business Jets

Dassault

Messerscmitt

1966

1982

Stopped Production – Hansa Jet

None

IAI

1969

Current

Produces Mid-size Business Jets

GD

Piaggio

1969

1972

Stopped Production – PD-808

None

Cessna

1971

Current

Produces Mid-size/Small Business Jets

Textron

Aerospatiale

1973

1981

Stopped Production - Corvette

None

British Aerospace

1977

1992

Produced Mid-size Business Jets

None

Canadair

1980

Current

Produces Large/Mid-size Business Jets

Bombardier

Mitsubishi

1982

1987

Stopped Production - Diamond

None

Beechcraft (Hawker)

1985

2012

Produced Mid-size/Small Business Jets

None

Bombardier

1986

Current

Produces Large/Mid-size Business Jets

Bombardier

Boeing

1998

Current

Produces Bizliner Business Jets

Boeing

Airbus

1999

Current

Produces Bizliner Business Jets

Airbus

Embraer

2001

Current

Produces Large/Mid/Small Biz Jets

Embraer

Eclipse

2005

2008

Stopped Production – Eclipse 500

None

One Aviation

2013

Current

Eclipse 550 continued from 500

One Aviation

Honda Aircraft

2015

Current

Produces Entry-Level Jet

Honda

Cirrus Aircraft

2017

Current

Produces Personal Jet

Cirrus

Pilatus

2018

Current

Produces Super Versatile Jet

Pilatus

* Stopped producing small cabin aircraft in 1990

Source: Chase & Associates

A more in-depth review of the past 60years reveals several consolidations that happened, as depicted in Chart A (bottom, left).

By the turn of the millennium and across the ensuing years, there have been many new and derivative business jets entering the market. Relatively clear categories, based on range, MTOW, cabin size and seating capacity (for example) became increasingly blurred, and today significant product overlap exists.

Manufacturers further segmented the market of Business/Corporate Aviation, building business jets for public and private companies as well as wealthy individuals (including individual owner pilots).

Moreover, the business of building business jets has grown increasingly global with six OEMs from the US today (including Cessna, Gulfstream, Boeing, O ne Aviation and Nextant) and seven Non-US (including Bombardier (Canada), Airbus and Dassault Falcon Jet (France), Embraer (Brazil), Pilatus (Switzerland), Cirrus (China) and Honda (Japan)).

Nevertheless, all have operations in the US, from manufacturing and completions to service support.

Models In-Operation Today, By OEM

Chart A: Business Jet Industry Historic Consolidations Gulfstream 1958 - Present IAI

IAI/Galaxy

Rockwell American Aero Commander

General Dynamics

Bombardier General Dynamics 1947 - 1976

Canadair

Bombardier

Bombardier

Learjet

Learjet

Dassault

Dassault Cessna British Aerospace

General Dynamics 1986 - 1992 Raytheon 1993 -2006 Goldman Sachs & Onyx Raytheon 1980 Hawker Beechcraft ’06 – ‘14

Hawker Siddeley

Mitsubishi

Textron Aviation

Beech British Aerospace

Boeing ‘98 Airbus ‘99 Embraer ‘01 Eclipse ’05 – ’08 / ‘13 Honda ‘15 Cirrus ‘17 Pilatus ‘18

1955

Boeing Airbus Embraer One Aviation Honda Cirrus Pilatus 2018

Over 60 Years

Source: Chase & Associates

44

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

The current number of business jet models in operation today, according to JETNET, is 223. Table B (top, right) lists the Tnumber of models in operation today by manufacturer.

Emerging Business Jet Markets

The emerging countries often referred to as the BRIC (Brazil, Russia, India and China) combined have over 1,280 business jets.

Table C (bottom, right) provides a list of the Top 30 business jet-ownining countries, and the current number of business jets in operation for each.

The US accounts for 14,254 (66%) of the 21,768 business jets worldwide.

Mexico is a distant second, while, highlighted in yellow are the BRIC countries of Brazil (Third), China (Eighth), India (Fifteenth), and Russia (Twenty-Sixth) based on the country of registration.

Note: Some owners of business jets from the BRIC and other countries may have chosen to register their business jet in other jurisdictions such as the Isle of Man (Seventh), Cayman Islands (Fourteenth), and Bermuda (Twentieth).

Aircraft Index see Page 153

OEM June.qxp_Finance 18/09/2018 14:48 Page 3

In Summary New products have always stimulated growth in the market, and today as the business jet fleet approaches the 22,000 milestone a significant overlap exists between business jets available. The OEMs offer a wide spectrum of products ranging between single-engine personal jets to bizliners and very few niches in between remain to be filled.

While the consolidations between Airbus and Bombardier, Boe ing and Embraer in the regional jet market has got people talking, historically the same has been occurring in Business Aviation. Ours is a crowded market currently.

Our expectation with the current market overlaps we are seeing is that we will indeed see some further tie-ups and consolidations in the future as the manufacturing industry continues to progress.

As we approach the 2020s, consolidation among the remaining OEMs could come about in a similar fashion to Textron’s acquisition of Hawker Beechcraft, which closed the Hawker business jet line (numbering 35 business jet models). Our conclusion is that there are far too many business jet models in operation today.

We may also see opportunities develop quicker than most would predict from newly developing technologies in the electric engine (economically and environmentally-driven) and supersonic market segments, as new OEMs are entering these market sectors.

Accordingly, the answer to our opening question “What is the potential for Business Jet Consolidation?” would be ‘Very High’.

Of course, time will tell who will emerge successful. But as history shows, the potential for further consolidations and stopped production is an ever-present in Business Aviation.

In the meantime, we leave you with some sage advice from Abraham Lincoln.

“The best thing about the future is that it comes only one day at a time.” T 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 feature.

Contact Mike via mike@avbuyer.com

Advertising Enquiries see Page 10

Table B: Number of In-Operation Models, By OEM FLEET

MODELS

COUNTRY

7,076 2,714 289 169 62 10,310

32 18 2 4 2 58

US US US US US

FLEET

MODELS

COUNTRY

Bombardier** Dassault Embraer Airbus HondaJet Cirrus Pilatus Total

4,913 2,208 1,246 108 79 48 2 8,604

48 30 13 4 1 1 1 98

Canada France Brazil France Japan China Swiss

OUT OF PRODUCTION

FLEET

MODELS

COUNTRY

Hawker Beechcraft* Westwind Sabreliner Astra Diamond Jetstar Jet Commander Dornier Sukhoi Syberjet Total

2,269 190 175 119 46 24 12 11 4 4 2,854

35 4 14 3 2 4 2 1 1 1 67

US Israel US Israel Japan US US Germany Russia US

Grand Total

21,768

223

US OEM s Cessna Gulfstream One (Eclipse) Boeing Nextant Total

NON US

* Hawker Beechcraft total includes Hawker (1,663 built, 31 models); Beechjet (331, 2); and Premier (275, 2). ** Bombardier total includes Learjet (2,305 built, 31 models); Challenger (1,804, 13); and Global (804, 4).

Source: JETNET, September 4, 2018

Table C: Top 30 Business Jet Operating Countries RANK

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

COUNTRY OF REGISTRATION

United States Mexico Brazil Canada Germany Venezuela Isle of Man China United Kingdom Austria France Argentina Australia Cayman Islands India Malta

#

14,254 864 739 506 449 303 288 255 221 202 189 178 176 165 164 162

CUM%

65.5% 4% 3.4% 2.3% 2.1% 1.4% 1.3% 1.2% 1% 1% 0.9% 0.8% 0.8% 0.8% 0.8% 0.7%

RANK

17 18 19 20 21 22 23 24 25 26 27 28 29 30

COUNTRY OF REGISTRATION

South Africa Portugal Turkey Bermuda San Marino Spain Italy Switzerland Saudi Arabia Russian Federation Japan UAE Luxembourg Denmark Other TOTAL

#

CUM %

146 129 124 114 107 89 88 87 74 73 72 64 62 59 1,365 21,768

0.7% 0.6% 0.6% 0.5% 0.5% 0.4% 0.4% 0.4% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 6.3% 100%

Source: JETNET (September 4, 2018)

www.AVBUYER.com

October 2018 – AVBUYER MAGAZINE

45

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Project1_Layout 1 24/09/2018 11:29 Page 1

Jeteffect 8 aircraft October.qxp 20/09/2018 10:11 Page 1

Falcon 2000LX • S/N 216

Falcon 50EX • S/N 313

Gulfstream G200 • S/N 028

Gulfstream G150 • S/N 238

Learjet 45XR • S/N 385

Learjet 45XR • S/N 241

Learjet 40XR • S/N 2101

Learjet 40XR • S/N 2090

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Citation X • S/N 750-0121

Citation Sovereign+ • S/N 680-0528

Citation XLS • S/N 560-5623

Citation CJ3+ • S/N 525B-0460

Piaggio Avanti II • S/N 1214

Pilatus PC-12 NG • S/N 1546

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Buying & Selling 1.qxp_Finance 19/09/2018 09:50 Page 1

OWNERSHIP T BUYING & SELLING

How to Choose the Best Used Jet for You David Wyndham details a buyer’s dilemma: Two used business jets of the same make and model are listed ‘For Sale’ and offer remarkably similar specifications. Which would provide the better purchase? he summary within the table opposite depicts the approximate aircraft specifications and shows that each aircraft offers updated avionics, a recent paint and interior refurbishment, and engines fully covered by an hourly cost maintenance program (HCMP).

At first glance, these two jets look nearly identical.

But are they really? What are some things a potential buyer can do to differentiate between them?

T

Question 1: Time on Market?

First, it’s important to establish how long each aircraft has been listed ‘For Sale’. A little research by a broker might reveal that one of these aircraft has 50

AVBUYER MAGAZINE – October 2018

been on the market considerably longer than average.

If the average time on the market for this model is typically 180 days, but one of these particular jets has remained unsold for a year, you’ll need to ask why.

Question 2: Aircraft’s Home Base?

Next, a buyer should look at where the two aircraft are based. In our scenario, one is based in the Southeast US and the other in the Western US; one sits in a humid climate near the ocean while the other sits in a dry, potentially dusty, desert environment.

Corrosion may be an issue, and ought to be

www.AVBUYER.com

Aircraft Index see Page 153

Buying & Selling 1.qxp_Finance 18/09/2018 15:19 Page 2

David Wyndham is co-owner & president of Conklin & de Decker, a JSSI Company, where his expertise in cost and performance analyses, fleet planning and life cycle costing are invaluable. He’s formerly an instructor pilot with the US Air Force. Contact him via david@conklindd.com

lawyers who are familiar with cross-border acquisitions.

Question 3: Cabin Connectivity?

The cabin connectivity is another potential differentiator. For example, Aircraft 1, represented in our comparison table states it has Wi-Fi – but is it a land-based Air-to-Ground system? If you’re flying long distances over water and need to remain connected, a satellite-based system will be required.

Satellite-based Wi-Fi costs more to install and much more for the data usage versus a land-based system. Thus, if Aircraft 1 has a land-based system and you require global access, then Aircraft 2 as a blank canvas may be preferable to avoid the added cost of updating and installing satellite-based Wi-Fi from ground-based.

Question 4: Paint and Refurbishment?

Both aircraft in this example claim to have recent paint and interior refurbishments. The sales photographs will reveal to you the colors and 2018 Worldwide Business & General Aviation Avionics Sales patterns used, but they may not reveal the quality of the materials used, and any possible wear-and-tear.

Moreover, the galley may be configured in different ways. Do you need a convection oven, or is Aircraft 1 Aircraft 2 the microwave sufficient? These details will help Model Year 2007 2007 differentiate which model works best for you.

Total Time

2,600 hrs

2,900 hrs

Engines on HCMP?

Yes

Yes

Damage History?

No

No

ADS-B Equipped?

Yes

Yes

WAAS/FANS Equipped?

Yes

Yes

Wi-Fi Equipped?

Yes

No

Recent Paint & Interior Refurb?

Asking Price

2015

2016

$10.8m

$11m

investigated with a thorough Pre-Purchase Inspection (PPI).

Where the aircraft is based may also impact the cost and time to close the deal, however. If your prospective aircraft is thousands of miles away in another country, it becomes harder to arrange demonstration flights and PPIs. There may be additional tax considerations with respect to the import and export of the aircraft. The reregistration of th e aircraft from one country to another can also be more complicated.

Bottom line: International acquisitions take more time and likely will cost more money. You can mitigate these concerns by using a broker and Advertising Enquiries see Page 10

Question 5: Maintenance Status?

The biggest differentiator is not ultimately total time, paint color, or the latest avionics suite being installed. (All these things can add value, or cost money to change.) The biggest differentiator lies in the maintenance status and quality of the records.

If you’re seriously evaluating an aircraft, ask for a maintenance status report. Most business jets are on a computerized maintenance tracking system now, and a report can be easily generated showing the status of major scheduled maintenance items, completion dates, and what is coming due soon. At a minimum, the seller should provide the status of the major maintenance items.

As an example, if Aircraft 1 requires a major maintenance inspection in 2019 costing $300,000, while Aircraft 2 just completed the same inspection, then Aircraft 2 may be a better purchase at the asking price.

Another request to make, if it’s not already stated in the listed specification, is for the compliance status with various regulatory items (Reduced Vertical Separatio n Minimum (RVSM), Required Navigation Performance (RNP) and Future Air Navigation System

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

October 2018 - AVBUYER MAGAZINE

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Buying & Selling 1.qxp_Finance 18/09/2018 15:19 Page 3

OWNERSHIP T BUYING & SELLING

(FANS 1/A)). If the maintenance records do not provide a complete and accurate description of the aircraft and its airworthiness status, then the aircraft is not legal for flight.

An inspection of the records is typically done during an on-site appraisal or a PPI. Both are for serious buyers and are preceded by a letter of intent to purchase, or other documentation with a legitimate offer.

Question 6: Charter Approved?

Is the aircraft Part 91 or Part 135 approved by the FAA? In Europe, there are similar specifications to follow. If you plan to charter your aircraft, purchasing one that is already in compliance with the local regulatory requirements for commercial operations is a plus.

PPIs and Appraisals are Vital

An old friend once told me, “Buying a used aircraft without doing a thorough Pre-Purchase Inspection is like playing Russian roulette with a fully-loaded pistol.”

There is no substitute for a PPI performed by a qualified facility. Preferably this will not be the same facility that conducts routine maintenance on the candidate aircraft. PPIs can be expensive, but significantly reduce the risk of unexpected out-ofpocket costs in those first couple of years of jet ownership.

An appraisal by a qualified appraiser is another recommended part of the pre-purchase process and will shed light on the current market for the model 52

AVBUYER MAGAZINE – October 2018

being considered, identify trends in sales prices, and ensure you are being quoted a fair price. If you are leasing or financing the aircraft, these are commonly mandated by the financial institution.

What to Conclude?

In summary, we leave you with the following important takeaways: 1. Work with a broker who knows the type of aircraft you are looking to buy. They can steer you clear of the less-desirable aircraft and ask the initial questions to have you arrive at a suitable candidate.

2. Find a broker familiar with international transactions if you are looking outside your home country for an aircraft. The added work can payoff with a great aircraft.

3. Always perform a PPI and an appraisal, once you are serious about the purchase.

4. Never make the final decision to buy based on your emotions.

5. If you have two options that appear equal, do a little research or get a professional opinion.

Subtle differences can have a serious impact!

Buying the right aircraft takes a skilled and knowledgeable team to guide and advise you. It’s smart money and a wise investment. T

Make More Informed Buying Decisions with AvBuyer

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Aircraft Index see Page 153

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1994 SIKORSKY S-76B | S/N 760416

4457 TSN ENROLLED ON PAP POP-OUT FLOATS DUAL RETRACTABLE BOARDING STEPS

774/859 SINCE COMPRESSOR/GEARBOX OVH SATPHONE, GARMIN GMX 200, UNS 1B+ AIRFRAME & ENGINE INSPECTIONS c/w 03/18 TWO CORPORATE OWNERS SINCE NEW

1993 DASSAULT FALCON F50 | S/N 232 MSP GOLD

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Selling Jets September.qxp_Finance 19/09/2018 10:14 Page 1

OWNERSHIP T BUYING & SELLING

What to Know When Assessing Aircraft Value Nearly every aircraft has its place within the used market, and while the appeal of upgrades can make an aircraft seem more desirable, if buying decisions aren’t taken in the wider context of the aircraft, major financial pitfalls could happen. Jet Tolbert discusses… hile an airplane’s cosmetics can be changed, its pedigree and airframe hours cannot. Taken together, these factors will drive the level of interest among savvy buyers, ultimately determining the eventual sale price.

Qualified buyers can see beyond the appeal of new paint and an interior offering Wi-Fi. Unfortunately, there are some who get caught up with the ‘window-dressing’ of an airplane and risk exposure to nasty surprises later in the ownership process.

Often, those surprises lead to major expense that far surpasses the original ownership budget and may lead to a longer-than-anticipated period on the market when the time comes to divest of the asset.

If you’re shopping today’s used jet or turboprop market, don’t be discouraged – you are part of a generally astute, and aware group of people who are infor med of market conditions and values.

W

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AVBUYER MAGAZINE – October 2018

You just need to follow some basic guidelines that will help you avoid buyer’s regret after the purchase of your used jet…

Work From the Core

There is a temptation for buyers to gravitate towards the airplane that catches their eye visually and then seek to justify it as the best option, using preconceived notions about certain attributes like engine and airframe hours, colors, equipment and aircraft location.

If you see a low-time jet with nice cosmetics, are you willing to become that uninformed buyer who pays 20% or more than you would for a comparable airplane?

If you’re willing to look deeper into an aircraft’s pedigree and history, you may find that there are other feasible airplanes with attributes you ignored earlier in your search that are in even better condit ion, and for a much lower price.

www.AVBUYER.com



Aircraft Index see Page 153

Hatt & Associates October.qxp_Layout 1 18/09/2018 16:19 Page 1

1999 Hawker 800XP S/N: 258436 Reg: N114BA 11,761.6 hours since new

ATG-5000 High Speed Internet Enrolled on MSP Program ADS-B Out installed April 2018

E, F, and G Insp. Completed Asking $1,495,000 in September2016 by Standard Aero Teflon Coating completed in 2017

Unique in Experience, Global in Scope.

2010 Hawker 4000 S/N: RC-50. Reg: N458WB 2,055.3 Hours Since New 1,435 Landings Pratt & Whitney PW308A Turbo Fan Engines APU: Honeywell GTCP36-150 (HH) / P-124 / 1,931 hours since new Primus Epic Flight Display System

2012 Nextant 400XT S/N: RK-334. Reg: N590TM 11,194.5 Hours since New Remanufactured Nextant in 2012 Collins Pro Line 21 Avionics Suite Aircell Axxess (Dual Iridium SAT Phone, Internet & Wifi) A,B,C, D inspection being completed at Hawker Beechcraft Tampa Production Unit #20

1-(303) 790-1050 hattaviation.com

2014 King Air 350i S/N: C-GOKI S. Reg: N FL-972 Asking $4,650,000 826.3 hours since new Canadian Modifica on Package Custom Paint Scheme GWX-3001 Collins Satellite Graphical Weather

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Selling Jets September.qxp_Finance 19/09/2018 10:10 Page 2

OWNERSHIP T BUYING & SELLING

Keep Your Information in Context

Working with a well-established acquisition agent that has deep connections within both the brokerage community and the operational/maintenance side of the industry will help ascertain how each aircraft fits into the marketplace.

Viewing recent sales activity and the aircraft currently ‘For Sale’ (knowing the nuances of each aircraft’s history, including the costs and downtime needed for upgrades that will bring it in line with your requirements) is what every educated buyer is doing on some level.

However, those with the best information will be able to ascertain the best value and quality available on the market.

Simply put there are things about an airplane that even the most intelligent buyer won’t fully understand without the support of appropriate expert ise. That’s because a well-connected acquisition agent will know all of the right questions to ask about history and distinguish whether a seller could be misrepresenting something.

There are many ways, for example, that an aircraft can comply with ADS-B/FANS. Consequently, the required cost (or value added to an aircraft already upgraded) can vary with different upgrade options.

Moreover, understanding the nuances of a ‘damage history’ gray area is important.

Obtaining such information is just a first step, however, and experience of the aircraft resale industry is needed to understand how the information will affect resale when you wish to sell the asset in the future.

58

AVBUYER MAGAZINE – October 2018

It’s not Apples-to-Apples…

Buyers often feel they are comparing apples-toapples when they are looking at ostensibly similar aircraft with a similar year, airframe/engine hours and cosmetics. The true differences can be buried much deeper, requiring someone with an eye for quality and a deep understanding of market dynamics for that make/model aircraft to help ascertain a current market value.

Identifying personal preference for pedigree and maintenance history; cosmetic condition; required downtime; acquisition and annual operating budget may seem like the starting point, but without market knowledge a lack of context can cause a serious error in a purchasing decision.

What makes this discussion especially relevant is that within today’s market, the nicest airplanes have been cherry-picked and buyers are having to consider a wider selection of aircraft.

Using a buyer’s agent with a client focus who does not have other conflicts of interest will enable you to make the most of today’s available aircraft, whether they’re publicly ‘For Sale’ or ‘off-market’. T 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, Latin America sales team and a partner office in Zurich, Switzerland, American Aircraft Sales is an active NBAA, IBAC, EBAA & ABAA member.

www.AVBUYER.com

Aircraft Index see Page 153

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HELICOPTER.qxp_Finance 18/09/2018 15:12 Page 1

OWNERSHIP T HELICOPTERS

Ten Tips for Buying Your Ideal Private Helicopter Private buyers seeking to purchase a used turbine helicopter can find it a challenge to select the right one, notes Mark V. Clancy. Following are his top tips for landing the ideal private rotorcraft for you…

nitial visions for helicopter ownership may include room for a pilot, family, luggage for a big trip and perhaps a dog. High-value decisions and long-term commitments like these can be daunting and require more than just scanning the internet and going it alone in the hope of acquiring the best helicopter available.

If you’ve never purchased a helicopter before there’s much to understand. If you currently own one and are seeking to upgrade, you may be facing some similar challenges. The following tips help ensure you get the value you want from a helicopter you plan to purchase.

I

1. Does a single- or twin-engine helicopter meet your interest, needs and budget?

Determine which helicopter makes/models offer the cabin size, performance and weather capabilities that best meet your interests and needs.

A range of attractively-priced used Airbus, Bell, Leonardo and MD single-engine turbine helicopters ($350,000-$2,000,000) are available (new models cost 60

AVBUYER MAGAZINE – October 2018

between $3,000,000-$4,000,000) and may prove attractive to private buyers interested in flying under Visual-Flight Rules (VFR), and with their families, friends and business associates.

Airbus, Bell, Leonardo and Sikorsky twin-engine helicopters offer extra cabin seating, are faster, carry more cargo, and can fly under Instrument Flight Rules (IFR) or in adverse metrological conditions, but they require a seasoned IFR-capable pilot, maintenance service center support, and a budget substantially greater than for single-engine turbine helicopters.

There are a variety of late-model and legacy corporateconfigured twin-engine helicopter models available at lower pric es ($350,000-$3,500,000) than new models ($5,000,000-$10,000,000) that may require varying degrees of refurbishment, Maintenance Repair and Overhaul (MRO) and avionics updates (usually between $100,000-$1,500,000).

You could also consider reconfiguring available utility, offshore or law enforcement and commercial helicopters for private use, likely requiring similar MRO, refurbishment,

www.AVBUYER.com

Aircraft Index see Page 153

HELICOPTER.qxp_Finance 18/09/2018 15:13 Page 2

Mark V. Clancy is an aerospace engineer and the founder of HelicopterBuyer, Inc., a Minneapolis, Minnesota–based full-service helicopter buyer and seller agent services business with 32 years’ experience and extensive expertise with helicopter and engine sales, valuations, MRO, reconfiguration, and operator support. Contact him at +1-763-753-3700 or via e-mail at mark@helicopterbuyer.com. He welcomes your comments, suggestions, or perspectives.

reconfiguration and avionics updates. Though it may be a challenge to envision converting a former commercial helicopter into a private/corporate role, great deals are often available on late-model and legacy commercial helicopters.

Once complete, the helicopter will enter its ‘second life’ custom-configured, ready to provide years of comfortable, safe and reliable service.

You may want to create a helico pter capability, performance, maintenance, reconfiguration update and cost-benefit analysis matrix. This will take some effort and we recommend you obtain the help of an experienced helicopter sales agent and service center to help you weigh the advantages and disadvantages before deciding on the right helicopter.

2. Model Year, Total Time, Optional Equipment, Maintenance Status, History, Condition and Asking Price matter…

Once you’ve selected your ideal make and model, you can begin your search of available helicopters ‘For Sale’.

They’ll be advertised in various industry digital and print publications and aircraft sales websites by owners, exclusive and non-exclusive brokers, agents or dealers, and at domestic and international helicopter trade shows.

Keep in mind that some sellers are more informed than others, and none represent the buyers’ interests.

Gather initial helicopter specifications including a list of installed optional equipment, maintenance status Advertising Enquiries see Page 10

summary and photos, and inquire if a prospective helicopter is actively being flown or run. You should also determine if there has been any damage history and, if so, who performed the repair and returned the aircraft to service.

What airframe and engine service centers provide the maintenance support? How long has the helicopter been ‘For Sale’, and has the asking price changed since it was placed on the market. This information will help narrow the field of prospective helicopters.

3. Understand equitable comparisons

Too often we see private buyers “price shopping” for helicopters as though they are commodities, seemingly unaware of how to make equitable comparisons. The devil of helicopter value is in the component detail. Buyers are advised to develop an analytical comparison process to assess the major component values.

Buyers should request the full maintenance tracking report from sellers. Substantial value may be excluded from your consideration if you only utilize the summary.

Create a spreadsheet of line-items of retirement, overhaul an d calendar components, and major inspections for the airframe and engine(s). This process is involved, and your helicopter agent and service center will help you understand the current values and costs.

There are also direct maintenance cost software programs available to assist in developing your analytical process. In addition, future component costs can be

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October 2018 - AVBUYER MAGAZINE

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OWNERSHIP T HELICOPTERS

projected in your spreadsheet analysis, based on anticipated hourly/annual utilization.

4. Hire the right helicopter maintenance service center mechanic or engineer

Selecting the right helicopter maintenance service center or mechanic/engineer is one of the most important aspects of purchasing a helicopter.

A trusted service center mechanic experienced in maintaining the particular make/model helicopter you intend to purchase will assist you in identifying minor and substantial issues during a Pre-Purchase Inspection, provide estimates for any MRO, refurbishment, reconfiguration and avionics updates, and ensure continuous helicopter airworthiness on your behalf.

Create an itemized budget for these categories and consider how an anticipated workscope schedule coordinates with the commencement of your flight operations.

5. Domestic and international acquisitions differ

Helicopters purchased domestically or regionally within one airworthiness authority, are less complicated and easier to relocate, but do not always provide the best acquisition opportunity. Sometimes, the most favorable helicopter acquisition is located oceans away, where governmental airworthiness authority bi-lateral agreements may not exist, but where installed optional equipment may not have Supplemental Type Certificates (STCs), thus requiring removal prior to obtaining airworthiness approval in your country.

These hurdles and challenges can be worth the effort, but you may need some assistance. Your service center should be able to help.

You may also need to locate an independent designated airworthiness representative able to guide you and perform an acceptable aircraft inspection and issue a 62

AVBUYER MAGAZINE – October 2018

civil-standard airworthiness certificate, prior to the helicopter being exported or following import to your home country.

6. Make sure you buy the helicopter correctly

Once you have collected data on all available helicopters of interest; completed your analytical assessment of installed equipment; determined current component values and projected component costs; estimated any anticipated MRO, reconfiguration, refurbishment and relocation expenses; made helicopter valuation assessments and comparisons; and decided on the most interesting helicopter, you’re ready to commence owner or owner-agent negotiations.

The more informed and prepared you are, the more likely you’ll be able to negotiate a favorable price. The next step is draftin g the Helicopter Purchase Agreement (HPA) which can be complicated without a helicopter sales agent or broker and/or an aviation attorney to guide you as they are generally written by sellers.

HPAs typically range between 8-50 pages, cover a wide range of terms and conditions, and can be one of the most challenging aspects of buying a helicopter. Once a mutually-acceptable HPA is approved you are on your way to the helicopter inspection.

7. Be thorough with the Pre-Purchase Inspection

Typically, once a written agreement is reached with a seller and a refundable escrow deposit is placed in escrow, a helicopter Pre-Purchase Inspection (PPI) is performed with your experienced mechanic and helicopter sales agent at the seller’s location.

A PPI typically requires one to two days depending if the helicopter is a single or twin-engine model and on its age (older helicopters have more data to review). One day is typically spent reviewing and assessing the log books, records and documents and the second day is generally required to perform a physical aircraft inspection

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

Aircraft Index see Page 153

Project1_Layout 1 03/10/2018 10:41 Page 1

MA K IN G A IR C R A FT AC QUISITI O NS EASY FOR YOU

Whether you’re looking to acquire a new or pre-owned aircraft, the transaction is complex and the list of questions and issues to address is overwhelmingly long. How do you narrow down the abundance of inventory to the models that best meet your needs? How does a particular model’s value retention history figure into the equation? How do you avoid the potential “gotchas” in the inspection process?

And much more.

To acquire the highest caliber aircraft that meets your needs, on the best possible terms, you need expert representation. Jeteffect’s years of experience and comprehensive scope of services relieves the burden and makes the entire process as easy as possible for you.

If you are considering an aircraft acquisition, we invite you to speak to one of our clients. And, of course, to us.

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HELICOPTER.qxp_Finance 18/09/2018 15:14 Page 4

OWNERSHIP T HELICOPTERS

and flight test. You may also want to perform an engine borescope inspection and may need to hire an engine service center with the correct equipment and training to complete the engine inspection correctly, determining if there are any issues that must be addressed.

A flight test is performed with the seller’s pilot to verify helicopter functionality and engine perf ormance as they need to meet OEM maintenance manual criteria.

Upon conclusion of the PPI, there could be major or minor airworthiness issues that need addressing. Your service center mechanic will identify the important issues to be resolved by either you or the seller.

8. Relocate the helicopter using professional ferry flight pilot/freight forwarders

Once you have completed the helicopter inspection and acceptance, it’s time to decide on how to relocate the helicopter to your facility or service center. If you will be flying the helicopter over a substantial distance, you should consider engaging a professional ferry flight pilot experienced in international air operations.

If you will be shipping the helicopter, obtain a quote from the seller’s service center to properly dismantle and prepare the helic opter for land/sea or air freight shipment. You will also need an experienced international freight-forwarder with good knowledge of the export/import process, and a load master to ensure proper loading and unloading of your helicopter.

Helicopter ferry flights can cost $800 per day, plus expenses. Helicopter service center shipping preparations can cost $5,000-$10,000, and freight shipping charges typica lly range from $25,000-$100,000 depending on the helicopter, location, shipping method, distances and other circumstances. (Note that most aircraft insurance policies do not cover ground/sea/air freight shipping, so be sure to include this with your helicopter shipping.)

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AVBUYER MAGAZINE – October 2018

9. Take advantage of the ‘professional agent difference’

In an increasingly changeable market, and to assist you in selecting the right helicopter, assemble a team of support professionals to help navigate the process. You may wish to engage the services of an experienced helicopter sales agent committed solely to representing your acquisition interests.

The right professional helicopter buyer agent has: Indepth knowledge of the various helicopter markets; unique knowledge of the makes and models being purchased; maintains fleet data, aircraft ‘For Sale’ and historical sales databases; is able to identify on- and off-market helicopters ‘For Sale’; performs detailed valuations; can offer recent sales insight; prepares buyer-oriented HPAs; is experienced with international transactions; and offers extensive experience for the clients’ exclusive benefit.

Helicopter buyer agents work similarly to seller agents, but exclusively represent the buyer’s interests, saving clients a multiple of their earned commission ensuring their clients buy wisely, and update and customize their helicopter seamlessly. They provide a trusted team of support professionals that will guide the buyer during their term of ownership.

10. Enjoy the buying process

Buyers love to buy but hate to be sold to. Buying your own private helicopter correctly is especially important.

High-value assets like helicopters can be a challenge and are complicated to acquire, especially internationally.

By identifying all helicopters available on the market, implementing an analytical comparative assessment and cost projection process, and by securing a trusted support team you are certain to identify, acquire and begin enjoying the best value helicopter anywhere as expeditiously and s moothly as possible.

More information from www.helicopterbuyer.com T

www.AVBUYER.com

Aircraft Index see Page 153

Bank of OZK September.qxp_Layout 1 17/09/2018 12:39 Page 1

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All applications subject to underwriting and credit approval.

MEMBER FDIC

Finance 1.qxp_Finance 18/09/2018 14:58 Page 1

OWNERSHIP T FINANCE

Millennials in Business Aviation: Opportunities and Changes Millennials are changing the world as we know it, for better or for worse depending on your perspective of the change(s) at hand.

Michael Francis asks what is their impact on Business Aviation? What are the opportunities and changes that they’re likely to bring? ou may not appreciate avocado toast (yet), but few among us haven’t benefitted from, or been impacted by the new ideas emanating from the Millennials, and manifesting into new business models like Uber, Spotify and Facebook.

How, and in what form, Millennials will change Business Aviation is a conversation in its infancy, given the oldest Millennial is in his or her late 30s and still accumulating the wealth necessary to utilize a business jet in a meaningful way.

Y

66

AVBUYER MAGAZINE – October 2018

Yet although, in general, finance lenders have not yet seen a meaningful change in how Millennials borrow money, the way they may use Business Aviation could alter how aircraft lenders provide acquisition financing in the future.

The Sharing Economy

We’re still some time away from drone-like air taxis dotting our skies, but new business models adapting the “Sharing Economy” model (i.e. Uber, AirBNB, and others) to Business Aviation are making it easier

www.AVBUYER.com



Aircraft Index see Page 153

You could sweat every detail of the deal, from interest rates to jurisdictional complexity –

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In a seller’s market, industry relationships and experience can be the difference between closing a sale or missing an opportunity.

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Finance 1.qxp_Finance 19/09/2018 09:52 Page 2

OWNERSHIP T FINANCE

to interface with this demographic – and at a price point lower than it’s historically been.

Surf Air, Wheels Up and JetSuite are three wellknown examples of companies getting attention lately for their transformative business models.

Although each of these companies differ in execution, one similarity is they all own or lease at least some of their aircraft, which have some form of secured debt financing.

Not only have these companies started to change Business Aviation, they are also creating new opportunities for aircraft lenders.

New Model of Financing?

Although charter companies have been around since the dawn of private aviation, they’ve often been thinly capitalized and own older, high-time aircraft.

This has created a challenge for lenders to finance these companies, since they are usually looking for a borrower with a strong enough balance sheet to weather downturns in the market, and an aircraft which will provide secure collateral with minimal variability in value.

However, a primary tenant of these new Sharing Economy companies is having access to a fleet of aircraft they have control over, affording them flexibility and responsiveness, which is difficult to do without owning or leasing the aircraft.

Given the capital required to acquire an aircraft, this usually requires some form of financing. The difference with these new companies though are that they’re a far cry from a “Mom and Pop” charter operator with one aircraft, but have seasoned management and multiple rounds of funding from committed funders and investors.

Traditional aircraft lenders have had a difficult time financing companies at this stage in their growth, but

the validation of these companies thriving and becoming profitable could create a real opportunity for lenders to move beyond the traditional model of financing high net worth individuals and companies.

What’s the Key

The key is closely watching the success of these companies, and also understanding how to redeploy their aircraft in the event of a bankruptcy or downturn in the market.

The demand for high-time aircraft used in a high utilization environment, typical of charter operators, is minimal especially during a down market.

However, if the concept behind these new companies thrives, that should increase demand for higher time aircraft as aircraft operators are relatively relaxed about total time on an airframe, but rather are focused on how much “life ” is left in it.

Considering cash has been more popular than debt or lease financing over the past decade, the opportunity to finance these new companies could be a significant one for aircraft financiers in the decades to come.

Although it’s likely sharing a ride with strangers in your “private aircraft” will be the wave of the future, we’ll see about the avocado toast.

More information from www.1stsource. com/business/specialty-financing/ specialty-financing/aircraft-and-helicopter T Michael Francis is a VP, 1st Source Bank’s Aircraft Lending Division, responsible for finance originations and relationship management primarily in the Eastern half of the US and Canada. He has an extensive background in GA having been involved with sales, marketing, financial analysis, loan structuring and aviation operations.

U n d e r s t a n d i n g t h e B U S I N E S S A V I A T I O N M A R K E T with A v B u y e r 68

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Aircraft Index see Page 153

the right relationship can help you soar.

I

PNC AVIATION FINANCE When it comes to financing private aircraft, we know you value decades of aviation expertise, track record and financial strength. That’s why aviation clients across the U.S. and Canada choose PNC Aviation Finance to help their business take off.

To learn more, visit pnc.com/aviation.

PNC is a registered mark of The PNC Financial Services Group, Inc. (“PNC”).

Equipment financing and leasing products are provided by PNC Equipment Finance, LLC, a wholly-owned subsidiary of PNC Bank. Aircraft financing is provided by PNC Aviation Finance, a division of PNC Equipment Finance, LLC. In Canada, PNC Bank Canada Branch, the Canadian branch of PNC Bank, provides bank deposit, treasury management, lending (including asset-based lending through its Business Credit division) and leasing products and services (through its Equipment Finance division). Deposits with PNC Bank Canada Branch are not insured by the Canada Deposit Insurance Corporation.

Deposits with PNC Bank Canada Branch are not insured by the Federal Deposit Insurance Corporation, nor are they guaranteed by the United States Government or any agency thereof.

Lending and leasing products and services, as well as certain other banking products and services, require credit approval. ©2018 The PNC Financial Services Group, Inc. All rights reserved.

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CIB EF PDF 0918-065-932402

9/12/18 2:02 PM

Values Intro.qxp_Finance 19/09/2018 10:17 Page 1

OWNERSHIP T RETAIL PRICE GUIDE

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.

F

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 upper-end 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

70

AVBUYER MAGAZINE – October 2018

largest metropolitan areas in the US. 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 1999 through Fall 2018. Each reporting point represents the current average retail value published in the Aircraft Bluebook by its corresponding calendar year.

For example, the Gulfstream G150 values reported in the Fall 2018 edition of the Bluebook show $10.3m for a 2016 model, $8.3m for a 2015 model and so forth. Aircraft are listed alphabetically. With the reader’s knowledge of aircraft, equipment, r ange and performance, the following Guide allows the reader to determine the best value aircraft for consideration.

Note: We have included 30 aircraft models in the following Large Cabin average price guide, and for additional assistance, Conklin & de Decker’s Performance and Specifications data for these models can be referred to, beginning on page 76. 

www.AVBUYER.com

Aircraft Index see Page 153

Freestream August.qxp 18/07/2018 11:05 Page 1

2008 Boeing BBJ

S/N: 36852

2012 Gulfstream G550

S/N: 5406

2012 Gulfstream G550

2011 Gulfstream G550

S/N: TBD

2001 Gulfstream V

FREESTREAM AIRCRAFT LIMITED

London +44 207 584 3800 sales@freestream.com

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

Hamilton, Bermuda +441 505 1062 sales@freestreambermuda.bm

FREESTREAM AIRCRAFT (H.K.) LIMITED

Hong Kong +852 2724 5620 info@freestreamhongkong.com

S/N: 5391

S/N: 635 FREESTREAM AIRCRAFT USA LIMITED

New York +1 201 365 6080 aircraftsales@freestream.com

Retail Values2018.qxp_RPG 19/09/2018 09:30 Page 1

OWNERSHIP T RETAIL PRICE GUIDE

Medium Jets: Average Retail Price Guide MODEL YEAR $

2018 US$M

2017 US$M

2016 US$M

2015 US$M

2014 US$M

2013 US$M

2012 US$M

2011 US$M

13.2

12.3

11.3

10.5

9.5

9.0

4.4

4.2

3.8

3.5

3.2

4.5

4.2

3.8

3.6

3.3

3.0

2.7

2.5

9.4

8.4

7.4

6.4

2010 US$M

2009 US$M

MODEL BOMBARDIER CHALLENGER 300 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

23.365

20.0

18.0

15.0

12.0

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

16.650

14.0

11.5

11.0

CESSNA CITATION SOVEREIGN+680

17.895

15.0

13.0

12.5

11.0

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+560

13.050

10.8

8.5

8.0

7.3

10.5 8.6

8.0

7.5

7.1

6.6

6.5

6.0

5.6

5.4

5.2

CESSNA CITATION XLS 560

4.8

CESSNA CITATION EXCEL 560

DASSAULT FALCON 2000 DASSAULT FALCON 50EX

GULFSTREAM G280

24.5

19.0

17.0

16.0

15.0

14.0

13.0

GULFSTREAM G200

6.9

6.3

5.6

6.5

5.8

5.6

5.3

HAWKER 4000

4.6

4.3

4.0

3.7

HAWKER 900XP

5.5

5.0

4.5

4.0

GULFSTREAM G150

10.3

8.3

7.9

7.5

GULFSTREAM G100 GULFSTREAM/ ASTRA 1125 SPX

HAWKER 850XP PRO LINE

3.6

HAWKER 800XP HAWKER 750

3.5

3.0

2.5

AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: CARL@JETAPPRAISALS.COM

72

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Aircraft Index see Page 153

Retail Values2018.qxp_RPG 19/09/2018 09:31 Page 2

RETAIL PRICE GUIDE T OWNERSHIP

What your money buys today

Fall 2018 2008 US$M

2007 US$M

2006 US$M

2005 US$M

2004 US$M

2003 US$M

8.3

7.5

7.1

6.7

6.4

6.1

2.9

2.7 2.7

3.2

2.350

2.9

2.6 2.3

2001 US$M

2000 US$M

1999 US$M

MODEL YEAR $ MODEL BOMBARDIER CHALLENGER 300 BOMBARDIER LEARJET 60XR

2.250

2.150

BOMBARDIER LEARJET 60SE 2.050

3.4

2002 US$M

2.6

2.4

2.1

2.1

1.9

1.450

1.750

1.550

1.350

2.5

2.3

1.9

1.7

1.950

1.8

1.7

1.6

BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR

1.6

1.5

1.4

1.3

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

1.250

BOMBARDIER LEARJET 40

CESSNA CITATION X+750 5.7

5.0

4.6

4.3

4.0

3.8

3.5

3.2

3.0

2.8

CESSNA CITATION X 750

1.9

1.8

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

6.3

6.0

5.6

5.2

4.9

CESSNA CITATION SOVEREIGN 680

5.1 4.7

CESSNA CITATION XLS+560 4.3

4.1

3.9

3.7

CITATION XLS 560

2.750

2.550

2.450

2.350

2.150

1.950

CESSNA CITATION EXCEL 560

7.5

7.0

6.4

5.9

5.2

4.9

4.5

3.9

3.7

DASSAULT FALCON 2000

5.5

5.3

5.1

4.9

4.5

4.0

3.6

3.2

3.0

DASSAULT FALCON 50EX

GULFSTREAM G280 5.1

4.7

4.3

4.8

4.4

4.1 3.1

4.1

3.8

3.3

3.1

2.9

2.7

2.4

GULFSTREAM G200 GULFSTREAM G150

2.9

2.7

2.5

2.3

2.1 2.1

GULFSTREAM G100 1.9

1.8

GULFSTREAM/ ASTRA 1125 SPX

HAWKER 4000 3.5 3.3

HAWKER 900XP 3.0

2.6

2.1 2.1

HAWKER 850XP PRO LINE 2.0

1.9

1.8

1.7

1.6

1.5

2.2

HAWKER 800XP HAWKER 750

AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: CARL@JETAPPRAISALS.COM Advertising Enquiries see Page 10

www.AVBUYER.com

October 2018 – AVBUYER MAGAZINE

73

NBAA BACE October.qxp_Layout 1 17/09/2018 15:45 Page 1

Elliott Jets October.qxp_Layout 1 17/09/2018 11:12 Page 1

ACSpecs Intro.qxp_AC Specs Intronov06 18/09/2018 14:02 Page 1

OWNERSHIP T SPECIFICATIONS

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 Entry-Level & 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 © 2018 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.

Variable Cost Per Hour Includes fuel, maintenance reserves for routine maintenance, engine/ propeller/APU reserves, and miscellaneous expenses.

Specifications - General Cabin Dimensions Cabin Height, Width, and Length are based on a compl eted 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. C abin Door Height and Width are the measurements of the main passenger cabin entry door.

•

• •

•

Landing Weight are specified during aircraft certification.

Basic Operating Weight is the empty weight, typically equipped, plus unusable fuel and liquids, flight crew @ 200 pounds each an d their supplies.

Useable fuel is the useable fuel in gallons x 6.7 pounds per gallon (Jet fuel) or 6 pounds per gallon (AVGAS).

Payload with Full Fuel is the useful load minus the useable fuel. The useful load is based on the maximum ramp weight minus the basic operating weight.

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

Crew Seats/Seats Executive This is the typical crew and passenger seating commo nly 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.).

Specifications Performance Range: • Rang e (4 Pax) - The maximum IFR range of the aircraft with four 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.

• 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.

• VFR Range - Seats Full is the maximum VFR range of the aircraft with all passenger seats occupied. This is used for all helicopters and piston fixed-wing aircraft.

• VFR Ferry Range - is the maximum VFR range of the aircraft with the maximum fuel on board and no passenger seats occupied. This is used for all helicopters and piston fixedwing aircr aft.

Weights: • Maximum Take-Off Weight and Maximum

Balanced Field Length BFL is the distance obtained by determining the

Baggage Internal baggage volume is the baggage volume that is accessible in flight by the passenger. This amount may vary with the interior layout. External baggage volume is the baggage volume not accessible in flight (nacelle lockers, etc.).

76

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

decision speed (V1) at which the take-off distance and the accelerate-stop distance are equal (fixed-wing multi-engine aircraft only). This is based on four passengers and maximum fuel on board (turbine aircraft). For single-engine and all piston fixed-wing aircraft, this distance represents the take-off field length at Maximum Take-off Weight (MTOW).

Landing Distance (Factored) For fixed-wing turbine aircraft, landing distance is computed using FAR 121 criteria. This takes the landing distance from 50/35 feet (depends on certification criteria) and multiplies that by a factor of 1.667. No credit is given for thrust reversers. Configuration is with four passengers and NBAA IFR Fuel Reserve on board. For fixedwing piston aircraft, this figure is the landing distance over a 50 foot obstacle.

Rate of Climb (Ft/Min) The rate of climb, given in feet per minute, is for all engines operating, at MTOW, ISA conditions.

One Engine Out rate of climb is for one engine inoperative rate of climb at MTOW, ISA. 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.

Normal cruise speed is the recommended cruise speed established by the manufacturer.

This speed may also be the same as Maximum Cruise Speed. Long Range Cruise is the manufacturer’s recommended cruise speed for maximum range.

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

Aircraft Index see Page 153

LEA RJET 40X R

BEE CHC RAF T HA WKE R 80 0XP i BEE CHC RAF T HA WKE R 80 0XP R BEE CHC RAF T HA WKE R 85 0XP BEE CHC RAF T HA WKE R 90 0XP BOM BAR DIER LEA RJET 40

BEE CHC RAF T HA WKE R 75 0 BEE CHC RAF T HA WKE R 80 0XP

AircraftPer&SpecJUNE18.qxp_PerfspecDecember06 18/09/2018 14:09 Page 1

$2,767.04

$2,806.11

$2,806.25

$2,543.15

$2,810.69

$2,549.98

$2,078.05

$2,100.03

5.75

5.75

5.75

5.75

5.75

5.75

4.92

4.92

CABIN HEIGHT FT.

6

6

6

6

6

6

5.12

5.12

CABIN WIDTH FT.

21.3

21.3

21.3

21.3

21.3

21.3

17.67

17.67

CABIN LENGTH FT.

551

551

551

551

551

551

369

369

CABIN VOLUME CU.FT.

4.3

4.3

4.3

4.3

4.3

4.3

4.8

4.8

DOOR HEIGHT FT.

2.25

2.25

2.25

2.25

2.25

2.25

2.5

2.5

DOOR WIDTH FT.

47

48

49

50

50

50

15

15

BAGGAGE VOL. INT. CU.FT.

32

-

-

-

-

-

50

50

BAGGAGE VOL. EXT. CU.FT.

2

2

2

2

2

2

2

2

CREW #

8

8

8

8

8

8

6

6

SEATS - EXECUTIVE #

27000

28000

28000

28000

28000

28000

20350

21000

MTOW LBS

23350

23350

23350

23350

23350

23350

19200

19200

MLW LBS

16250

16250

16250

16500

16330

16500

13718

13949

B.O.W. W/CREW LBS

8500

10000

10000

10000

10000

10000

5375

6062

USEABLE FUEL LBS

2200

1750

1750

1620

1790

1620

1507

1239

PAYLOAD WITH FULL FUEL LBS

2200

2050

2050

1950

2120

1950

2282

2051

MAX. PAYLOAD LBS

2050

2470

2470

2733

2525

2733

1573

1778

RANGE - SEATS FULL N.M.

2200

2620

2620

2929

2710

2929

1707

1960

MAX. RANGE N.M. (4 PAX)

4647

5200

5200

5260

5640

5258

4000

4250

BALANCED FIELD LENGTH FT.

3803

3803

3803

3805

3810

3805

4033

4060

LANDING DIST. (FACTORED) FT.

3500

3415

3415

3415

3415

3415

2820

2820

R.O.C. - ALL ENGINES FT PER MIN

530

470

470

570

470

570

710

394

R.O.C. - ONE ENGINE OUT FT PER MIN

447

449

449

452

452

452

465

465

MAX. CRUISE SPEED KTAS

430

430

430

430

430

430

436

436

NORMAL CRUISE SPEED KTAS

402

402

402

402

402

402

428

432

L/RANGE CRUISE SPEED KTAS

2

2

2

2

2

2

2

2

TFE 731-5BR

TFE 731-5BR

TFE 731-5BR

TFE 731-50R

TFE 731-5BR

TFE 731-50R

TFE 731-20AR

TFE 731-20BR

VARIABLE COST PER HOUR $

ENGINES #



ENGINE MODEL

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.

Advertising Enquiries see Page 10

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October 2018 - AVBUYER MAGAZINE

77

AircraftPer&SpecJUNE18.qxp_PerfspecDecember06 18/09/2018 14:09 Page 2

CHA LLEN GER 350

CHA LLEN GER 300

LEA RJET 75

$2,168.99

$2,347.26

$2,168.32

$2,030.94

$2,089.69

$2,861.86

$2,871.36

CABIN HEIGHT FT.

4.92

4.92

5.71

5.71

4.92

4.92

6.08

6.08

CABIN WIDTH FT.

5.12

5.12

5.92

5.92

5.12

5.12

7.17

7.17

CABIN LENGTH FT.

19.75

19.75

17.67

17.67

17.67

19.75

23.7

23.7

CABIN VOLUME CU.FT.

415

415

447

447

369

415

930

930

DOOR HEIGHT FT.

4.8

4.8

5.3

5.3

4.8

4.8

6.22

6.22

DOOR WIDTH FT.

2.5

2.5

2

2

2.5

2.5

2.5

2.5

BAGGAGE VOL. INT. CU.FT.

15

15

24

24

15

15

106

106

BAGGAGE VOL. EXT. CU.FT.

50

50

24

24

50

50

-

-

CREW #

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

8

8

7

7

6

8

8

8

MTOW LBS

20500

21500

23500

23500

21500

21500

38850

40600

MLW LBS

19200

19200

19500

19500

19200

19200

33750

34150

B.O.W. W/CREW LBS

13890

14125

14772

14896

13715

13890

23850

24800

USEABLE FUEL LBS

6062

6062

7910

7910

6062

6062

14045

14043

PAYLOAD WITH FULL FUEL LBS

798

1563

1068

944

1973

1798

1105

1907

MAX. PAYLOAD LBS

2110

1875

2228

2104

2285

2110

3350

3400

RANGE - SEATS FULL N.M.

1423

1685

2186

2044

1849

1805

3065

3277

MAX. RANGE N.M. (4 PAX)

1968

1937

2418

2398

2000

1998

3340

3421

BALANCED FIELD LENGTH FT.

4400

4550

5920

5920

4353

4425

4950

5090

LANDING DIST. (FACTORED) FT.

4063

4105

5208

5317

3917

3917

3951

4033

R.O.C. - ALL ENGINES FT PER MIN

2800

2630

4500

4500

-

-

4240

-

R.O.C. - ONE ENGINE OUT FT PER MIN

590

589

714

718

-

-

474

-

MAX. CRUISE SPEED KTAS

465

465

465

465

465

465

470

470

NORMAL CRUISE SPEED KTAS

436

436

436

436

436

436

459

459

L/RANGE CRUISE SPEED KTAS

416

432

423

423

432

432

459

459

2

2

2

2

2

2

2

2

TFE 731-20AR

TFE 731-20BR

PW305A

PW305A

TFE 731-40BR

TFE 731-40BR

HTF7000

HTF7350

ENGINES # ENGINE MODEL

BOM BAR DIER

BOM BAR DIER

$2,120.69

VARIABLE COST PER HOUR $

BOM BAR DIER

BOM BAR DIER

BOM BAR DIER

LEA RJET 70

LEA RJET 60X R

BOM BAR DIER

LEA RJET 60

BOM BAR DIER

LEA RJET 45

LEA RJET 45X R

OWNERSHIP T SPECIFICATIONS

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.

78

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Aircraft Index see Page 153



CES SNA CITA TION LATI TUD E CES SNA CITA TION SOV ERE IGN CES SNA CITA TION SOV ERE IGN + CES SNA CITA TION X CITA TION X+

CES SNA CITA TION VII

CES SNA CITA TION XLS CES SNA CITA TION XLS +

CES SNA CITA TION EXC EL

AircraftPer&SpecJUNE18.qxp_PerfspecDecember06 18/09/2018 14:10 Page 3

$2,158.05

$2,089.83

$2,121.00

$2,833.64

$2,545.73

$2,463.14

$2,336.91

$3,518.33

$3,499.24

5.7

5.7

5.7

5.7

6

5.7

5.7

5.7

5.7

CABIN HEIGHT FT.

5.5

5.5

5.5

5.5

6.42

5.5

5.5

5.5

5.5

CABIN WIDTH FT.

18.5

18.5

18.5

18.4

21.08

25.25

25.25

23.92

25.2

CABIN LENGTH FT.

422

422

422

422

587

571

585

538

593

CABIN VOLUME CU.FT.

4.54

4.5

4.5

5

5.42

4.58

4.58

4.5

4.5

DOOR HEIGHT FT.

2

2

2

2

2.58

2.5

2.5

2.1

2.1

DOOR WIDTH FT.

10

10

10

-

27

35

35

-

-

BAGGAGE VOL. INT. CU.FT.

80

80

80

54

100

100

100

82

82

BAGGAGE VOL. EXT. CU.FT.

2

2

2

2

2

2

2

2

2

CREW #

7

8

8

7

9

9

9

8

8

SEATS - EXECUTIVE #

20000

20200

20200

23000

30800

30300

30755

36100

36600

MTOW LBS

18700

18700

18700

20000

27575

27100

27575

31800

32000

MLW LBS

12500

12800

12800

14250

18656

18150

18510

22025

22464

B.O.W. W/CREW LBS

6740

6740

6740

7330

11394

11223

11390

12931

12931

USEABLE FUEL LBS

960

860

860

1620

1000

1177

1125

1444

1505

PAYLOAD WITH FULL FUEL LBS

2500

2300

2300

2250

2544

2650

2490

2375

2514

MAX. PAYLOAD LBS

1449

1539

1528

1693

2455

2620

2773

2890

3229

RANGE - SEATS FULL N.M.

1839

1989

1976

1824

2870

3010

3163

3125

3380

MAX. RANGE N.M. (4 PAX)

4100

3940

3910

5100

3760

3750

3260

5250

5242

BALANCED FIELD LENGTH FT.

4917

4738

4738

4500

3597

3867

3725

4693

4702

LANDING DIST. (FACTORED) FT.

3790

3500

3500

4315

3800

4016

-

3650

3650

R.O.C. - ALL ENGINES FT PER MIN

699

800

800

510

1145

1237

-

1120

1120

R.O.C. - ONE ENGINE OUT FT PER MIN

433

433

440

452

429

459

459

525

527

MAX. CRUISE SPEED KTAS

433

433

440

452

429

459

459

525

527

NORMAL CRUISE SPEED KTAS

373

373

373

417

372

388

-

470

470

L/RANGE CRUISE SPEED KTAS

2

2

2

2

2

2

2

2

2

PW545A

PW545B

PW545C

TFE 731-4R-2

PW306D

PW306C

PW306D

AE 3007C1

AE 3007C2

VARIABLE COST PER HOUR $

ENGINES #



ENGINE MODEL

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.

Advertising Enquiries see Page 10

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79

AircraftPer&SpecJUNE18.qxp_PerfspecDecember06 18/09/2018 14:10 Page 4

G28 0

G20 0

G15 0

$2,545.09

$2,221.89

$2,253.54

$2,939.24

$2,910.81

$2,221.26

CABIN HEIGHT FT.

5.9

6.2

6

5.6

5.75

6.25

6.25

5.6

CABIN WIDTH FT.

6.1

7.7

6.83

4.75

5.75

7.2

7.2

4.75

CABIN LENGTH FT.

23.5

31.2

24

17.1

17.7

24.5

32.25

17.1

CABIN VOLUME CU.FT.

569

1028

705

304

521

869

888

304

DOOR HEIGHT FT.

5

5.64

5.42

4.3

4.33

6

6

4.3

DOOR WIDTH FT.

2.6

2.63

2.4

2.08

2.1

2.75

2.75

2.08

BAGGAGE VOL. INT. CU.FT.

25

134

27

9

25

25

34

9

BAGGAGE VOL. EXT. CU.FT.

90

-

150

55

55

125

120

55

CREW #

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

9

10

7

7

7

8

8

7

MTOW LBS

39700

35800

35758

24650

26100

35450

39600

24650

MLW LBS

35715

33000

32518

20700

21700

30000

32700

20700

B.O.W. W/CREW LBS

22250

22750

23150

14365

15100

19950

24150

13400

USEABLE FUEL LBS

15520

12155

12130

9365

10300

15000

14600

9345

PAYLOAD WITH FULL FUEL LBS

2130

1095

611

920

850

650

1000

2055

MAX. PAYLOAD LBS

3320

5910

2754

2635

2400

4050

4050

3600

RANGE - SEATS FULL N.M.

3223

2841

2498

2550

2760

3130

3590

2330

MAX. RANGE N.M. (4 PAX)

3388

3130

2963

2910

3130

3530

3690

2780

BALANCED FIELD LENGTH FT.

4950

5100

4061

6000

5030

6991

5160

6400

LANDING DIST. (FACTORED) FT.

3500

4333

3472

4362

4050

4352

5083

4362

R.O.C. - ALL ENGINES FT PER MIN

3515

3730

3783

3400

3340

3700

5000

3700

R.O.C. - ONE ENGINE OUT FT PER MIN

671

377

831

493

606

395

844

1010

MAX. CRUISE SPEED KTAS

480

475

468

474

470

470

482

460

NORMAL CRUISE SPEED KTAS

459

459

459

459

459

459

470

448

L/RANGE CRUISE SPEED KTAS

430

430

436

430

430

430

459

414

3

2

2

2

2

2

2

2

TFE 731-40

CFE 738-1-1B

HTF7500E

TFE 731-40R

TFE 731-40AR

PW306A

HTF7250G

TFE 731-3C

ENGINES # ENGINE MODEL

IAI A STR A SP

$3,654.63

GUL FSTR EAM

$3,670.96

VARIABLE COST PER HOUR $

GUL FSTR EAM

GUL FSTR EAM

G10 0 GUL FSTR EAM

EMB RAE R LE GAC Y 45 0

DAS SAU LT F ALC ON 200 0

DAS SAU LT F ALC ON 50E X

OWNERSHIP T SPECIFICATIONS

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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AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Aircraft Index see Page 153

T

Aircraft Maintenance

Aircraft Operations

Aircraft Sales

Aircraft Management

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AirCompAnalysis Oct18.qxp_ACAn 18/09/2018 15:25 Page 1

OWNERSHIP T AIRCRAFT COMPARATIVE

Cessna Citation CJ4

Aircraft Comparative Analysis

Cessna Citation CJ4 vs Embraer Phenom 300/300E In this month’s Aircraft Comparative Analysis, Mike Chase

provides information on a selection of new and used business jets for the purpose of valuing the Cessna Citation CJ4.

e will consider the key productivity parameters (payload, range, speed and cabin size) and cover current market values. The field in this study includes the Embraer Phenom 300 and newly introduced Phenom 300E. It is hoped this comparison will also highlight the value proposition of the upgraded Embraer Phenom 300E in relation to the Citation CJ4 and original Phenom 300 model.

W

Citation CJ4 Background & Market Insight

The Cessna Citation CJ4 (Model 525C), like its predecessor the Citation CJ3, is a stretch extension of the previous CitationJet model. However, it differs significantly from the previous CitationJet models with its moderately-swept wing design which it borrows from the Citation Sovereign.

The first flight of the Citation CJ4 took place on May 5, 2008, and deliveries began in 2010. The total numb er of manufactured Citation CJ4s as of August 2018 was 277, with 266 remaining in operation globally. Of those in-operation aircraft, 257 are wholly-owned with nine in

82

AVBUYER MAGAZINE – October 2018

shared ownership. As of this writing, three had been retired and eight are at the factory awaiting delivery.

Of the Citation CJ4 aircraft in operation, North America has the largest fleet percentage (80%), followed by Europe (13%) accountin g for a combined total of 93%. Eleven percent of the Citation CJ4s in operation today are in fleet ownership.

As of July 2018, the Citation CJ4 market was comprised of 72% new vs 28% used. Interestingly, 53% (or 141) of the Citation CJ4 business jet fleet are aged six-10 years old indicating a steady production spread since the jet was first introduced to the market. The percentage ‘For Sale’ is 3.8% and the average days on the market before a sale is completed is currently 117 days, per JETNET.

Status of ADS-B Out Equipage

Of the 266 Citation CJ4 business jets in operation worldwide, an excellent 249 (94%) have ADS-B Out installed, leaving only 6% of the fleet yet to comply.

(The FAA mandates that all US-operated business jets must comply with this new requirement by January 1, 2020.)

www.AVBUYER.com

Aircraft Index see Page 153

AirCompAnalysis Oct18.qxp_ACAn 19/09/2018 09:59 Page 2

HOW MANY

EXECUTIVE SEATS

CESSNA

Citation CJ4

(Manufactured between 2010 - Present)

$9.195 Million

7

$9.450 Million

7

(2018 Model)

vs.

EMBRAER

Phenom 300/300E

(Manufactured between 2009 - Present)

(2018 Model)

WHICH OF THESE LIGHT jets WILL COME OUT ON TOP HOW MUCH

RUNWAY DO I NEED?

(Balanced field length, ft)

Cessna Citation CJ4

HOW FAR

2000

5,920

2500

PAYLOAD CAN WE TAKE?

(Nautical Miles. 4 Pax)

1,991

(Lbs) 1,052

Cessna Citation CJ4 2,077

Embraer Phenom 300/300E 942

HOW MANY

HOW MANY

OPERATION?

EACH MONTH?

UNITS IN 444

266

Sources used: Conklin & de Decker, JETNET, Vref.

Advertising Enquiries see Page 10

NEW/USED SOLD

6 (3.2%)

3000

4000

3500

WHAT’S THE

HOW MUCH

CAN WE GO?

Embraer Phenom 300/300E

3,643

Embraer Phenom 300/300E 1500

Cessna Citation CJ4

3,350

5 (3.8%)

12-Month Average Figure (% = Global Fleet For Sale)

www.AVBUYER.com

LONG RANGE CRUISING SPEED? Cessna Citation CJ4

Embraer Phenom 300/300E

(Knots)

380kts

383kts

WHAT’S THE

COST PER HOUR?

Cessna Citation CJ4

$1,656

Embraer Phenom 300/300E $1,525

 October 2018 – AVBUYER MAGAZINE

83

AirCompAnalysis Oct18.qxp_ACAn 19/09/2018 10:01 Page 3

OWNERSHIP T AIRCRAFT COMPARATIVE

Table A - Payload & Range

Payload & Range

As we have mentioned in past articles, a potential operator should focus on payload capability as a key factor. As depicted in Table A (left), the Citation CJ4 ‘Available Payload with Maximum Fuel’ (1,052lbs) is greater than that offered by the Phenom 300/300E (942lbs).

Citation CJ4 Phenom 300/300E

17,110 17,968

5,828

5,353

Max Fuel (lb)

MTOW (lb)

2,150

2,216

Max Payload (lb)

1,052

942

Avail Payload w/Max Fuel (lb)

1,425

MAX P/L w/avail. fuel IFR Range (nm)

Source: Conklin & de Decker; B&CA.

Chart A - Cabin Cross-Section Embraer Phenom 300

4.83 ft

5.08 ft

4.75 ft

4.92 ft

Cessna Citation CJ4

Source: UPCAST JETBOOK

AVBUYER MAGAZINE – October 2018

Cabin Cross-Section Comparison

Chart A (left) offers a cabin crosssection comparison with the Citation CJ4 offering less width (4.83ft) than the Phenom 300 (5.08 ft). Also, the height of the Citation CJ4 (4.75ft) is less than the Phenom 300 (4.92ft).

However, the Citation CJ4 cabin length is slightly longer (17.3ft) compared to the Phenom 300 at (17.17ft). Overall, the Citation CJ4 has a smaller cabin volume (293 cubic feet) compared to the Phenom 300 (324 cubic feet), which is 10.6% more.

The Citation CJ4 has six cubic feet of internal and 71 cubic feet of external baggage space, while the Phenom 300/300E has 19 cubic feet of internal baggage space and 66 cubic feet of external baggage space.

Meanwhile, the typical seating configuration for both business jets is for seven passenger seats and two crew members.

Range Comparison

Phenom 300E

84

1,247/ 1,351

As depicted by Chart B (top, right) using Wichita, Kansas as the origin point, the Phenom 300E (2,077nm) shows more range coverage than the Citation CJ4 (1,991nm). Nevertheless, each business jet’s range covers all the states of mainland USA, Canada, Mexico and most of Central America.

Note: For business jets, ‘four passengers with available fuel’ represents the maximum IFR range of the aircraft at Long-Range Cruise with four passenger seats occupied. NBAA IFR fuel reserve calculation for a 200nm alternate is assumed. The lines depicted do not include winds aloft or any other weather-related obstacles. www.AVBUYER.com

Aircraft Index see Page 153

AirCompAnalysis Oct18.qxp_ACAn 18/09/2018 15:47 Page 4

Powerplant Details

The Citation CJ4 is powered by two Williams International FJ444A engines each offering 3,420lbst. The Phenom 300, meanwhile, offers a pair of Pratt & Whitney Canada PW535E engines with 3,360lbst.

Chart B - Range Comparison

CJ4 Phenom 300E

1,991 nm (w/4 Pax) 2,077 nm (w/4 Pax)

Total Variable Cost

The ‘Total Variable Cost’ illustrated in Chart C (middle, right), sourced from Conklin & de Decker, is defined as the Cost of Fuel Expense, Maintenance Labor Expense, Scheduled Parts Expense and Miscellaneous Trip Expense. The Total Variable Cost for the Citation CJ4 computes at $1,656 per hour, which is more expensive by 8.6% than the Phenom 300 at $1,525 per hour.

Table B (bottom, right) contains the New prices from Vref for the CJ4 and Phenom 300E. The average speeds and ranges are from Conklin & de Decker, while the number of aircraft in-operation, percentage ‘For Sale’, and averag e sold are as reported by JETNET. The Citation CJ4 fleet has 3.8% of its fleet ‘For Sale’ as of the end of July 2018, whereas the Phenom 300/300E has 3.2% ‘For Sale’. The average number of new and used transactions (sold) per month shows the Citation CJ4 with five and the Phenom 300 with six over the past 12 months.

Chart C – Variable Cost Citation CJ4

Advertising Enquiries see Page 10

$1,525

Phenom 300/300E $0

$1,000

$500

$1,500

US $ per hour Source: Conklin & de Decker

Maximum Scheduled Maintenance Equity

Courtesy of Asset Insight, Chart D (overleaf) depicts and projects the ‘Maximum Maintenance Equity’ that the Citation CJ4 has available, $based on its age. The Maximum Maintenance Equity figure was achieved the day the aircraft came off the production line – since it had not accumulated any utilization toward any maintenance events.

The percent of the Maximum Maintenance Equity that an average aircraft will have available, based on its age, assumes: Average annual utilizat ion of 310 Flight Hours; 

$1,656

Table B - Aircraft Comparison Table Citation CJ4 Phenom 300/300E

380

383

Long Range Cruise Speed (Kts)

293

324

Cabin Volume Cu Ft

1,991

2,077

4 Pax w/available Fuel IFR Range (nm)

** $9.195 $9.450 New 2018 Vref Price $USm

266

3.8%

444

In Operation

3.2%

% For Sale

5

6

Average Sold* Per month

*Average Full Sale Transactions in the past 12 months; Source: JETNET; ** Price is for Phenom 300E only Data courtesy of Conklin & de Decker; JETNET; Vref

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October 2018 – AVBUYER MAGAZINE

85

AirCompAnalysis Oct18.qxp_ACAn 18/09/2018 15:48 Page 5

OWNERSHIP T AIRCRAFT COMPARATIVE

Chart D - CJ4 Maximum Scheduled Maintenance Equity Assumed Annual Utilization: 310 Flight Hours Average Maximum Maintenance Equity: $1,782,666

Citation CJ4

Depreciation Schedule

Pct of Avg Max Mtnc Equity vs. Aircraft Age 100%

y

90%

80%

70%

60%

50%

40%

30%

20%

1

2

3

5

4

7

6

9

8

10

11

12

13

14

15

17

16

Aircraft Age (Years)

Source: Asset Insight (www.assetinsight.com)

Table C - Part 91 & 135 MACRS Schedule MACRS Schedule for PART 91 Year

1

Deduction

2

3

4

5

6

32.0%

19.20%

11.52%

11.52%

5.76%

M

20.0%

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

Table D - MACRS Depreciation Schedule 2018 Citation CJ4 - PRIVATE (PART 91) Full Retail Price - Million $9.195 1

2

3

4

5

6

Rate (%)

20.0%

32.0%

19.2%

11.5%

11.5%

5.8%

Depreciation ($M)

$1.839

$2.942

$1.765

$1.059

$1.059

$0.530

Depreciation Value ($M)

$7.356

$4.414

$2.648

$1.589

$0.530

$0.000

Cum. Depreciation ($M)

$1.839

$4.781

$6.547

$7.606

$8.665

$9.195

Year

2018 Citation CJ4 - CHARTER (PART 135) Full Retail Price - Million $9.195 1

2

3

4

5

6

7

8

Rate (%)

14.3%

24.5%

17.5%

12.5%

8.9%

8.9%

8.9%

4.5%

Depreciation ($M)

$1.314

$2.252

$1.608

$1.148

$0.821

$0.820

$0.821

$0.410

Depreciation Value ($M)

$7.881

$5.629

$4.021

$2.873

$2.051

$1.231

$0.410

$0.000

Cum. Depreciation ($M)

$1.314

$3.566

$5.174

$6.322

$7.144

$7.964

$8.785

$9.195

Year

Source: Vref

86

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

and all maintenance is completed when due

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 are allowed to use accelerated depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period (see Tabl e 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) where depreciation is based on a straight-line method, meaning that equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are longer than recovery periods available under MACRS. There are a variety of factors that taxpayers must consider in determining if 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 p urposes, such as Part 91 business use flights, are generally depreciated under MACRS over a period of five years or by using ADS with a sixyear 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 percent of Aircraft Index see Page 153



Southern Cross October.qxp_Layout 1 17/09/2018 15:20 Page 1

2014 Dassault Falcon 7X • s/n 212

2006 Bombardier Challenger • s/n 20079

2004 Bombardier Lear 45XR • s/n 0252 • XA-UXS

1999 Cessna Citation X 750 • s/n 0056 • N156VP

2001 Bombardier Lear 45 • s/n 45-162 • N455EA

2000 Gulfstream GIVSP • s/n 1407 • N07NS

2005 Beech Premier 1A • s/n RB-131 • OM-FWW

2009 Bombardier Lear 60XR • s/n 373 • N372SC

GLOBALLY INTIMATE. Brokerage | Acquisitions | Sales | Management n +1 (954) 377-0303 | e acsales@scross.com | d www.scross.com | f i

AirCompAnalysis Oct18.qxp_ACAn 18/09/2018 15:49 Page 6

OWNERSHIP T AIRCRAFT COMPARATIVE

Asking Prices & Quantity

The current used market for the Citation CJ4 aircraft shows a total of 11 jets ‘For Sale’ with five displaying asking prices ranging from $5.995m to $6.950m. For the Phenom 300, a total 11 aircraft are ‘For Sale’, and four are displaying asking prices ranging from $6m to $8.25m.

While each serial number is unique, the Airframe (AFTT) hours and age/condition will cause great variations in price. Of course, the final negotiated price remains to be decided between the seller and buyer before the sale of an aircraft is completed.

Productivity Comparisons

The points in Chart D (top, right) are centered on the same aircraft. 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/Eight Passenger Range (nm) with available fuel; 2. The long-range cruise speed flown to achieve that range; 3. The gross cabin volume available for passengers and amenities.

Others may choose different parameters, but serious business aircraft buyers are

Chart E - Productivity Comparison Citation CJ4 Phenom 300/300E $12.0

Price (Millions)

the cost of a new or used aircraft purchased after September 27, 2017 and placed in service before January 1, 2023. This 100 percent 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 percent to depreciate qualified business jets until December 31, 2026.

Table D (previous page) depicts an example of using t he MACRS schedule for a 2018 model Citation CJ4 business jet in private (Part 91) and charter (Part 135) operations over five- and seven-year periods, assuming a 2018 list price at $9.195 million (per Vref).

$11.0 $10.0

Phenom 300/300E

Citation CJ4

$9.0 $8.0 $7.0 $6.0 0.0000

0.1000

0.2000

0.3000

0.4000

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

usually impressed with Price, Range, Speed and Cabin Size. After consideration of the Price, Range, Speed and Cabin Size, we can conclude that the Citation CJ4 is a productive jet within its field.

The Citation CJ4 offers greater ‘Available Payload with Maximum Fuel ’. However, the Citation CJ4 has higher variable cost per hour than the Phenom 300/300E, which has slightly more range and extra cabin volume.

The New price of a Citation CJ4 at $9.195 million is lower than a Phenom 300E at $9.45m, a difference of $255k. Operators should weigh up their mission requirements precisely when picking which option is the best for them.

In Summary

Within the preceding paragraphs we have touched upon several of the attributes that business aircraft 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.

The Citation CJ4 continues to be popular today. Our expectations are that Citation CJ4 will continue to do well in the new and used markets for the foreseeable future.

Of course , prospective buyers should be wary that an aircraft they are contemplating for purchase doesn’t fall into the 6% of the CJ4 fleet still needing an ADS-B upgrade without an upgrade already being booked for that aircraft over the next year or so. If the aircraft is not outfitted with ADS-B Out by the end of 2019, it cannot be placed in operation until it does comply. T

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 feature. Contact Mike via mike@avbuyer.com

Compare, Contrast, Decide with AvBuyer 88

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Aircraft Index see Page 153

Business doesn't stop at 40,000 feet.

Now, neither does high-speed internet.

Our fast, reliable technologies have powered businesses, governments, and militaries around the world for more than 30 years—and we apply the same high standards to your in-flight experience.

So go ahead. Conference, stream, and surf just like you would in your oice—even at 40,000 feet.

From the leader in business jet connectivity T: +1.760.476.4755 E: business-aviation@viasat.com viasat.com/business-aviation

Connectivity 1.qxp_Finance 20/09/2018 09:52 Page 1

OPERATING T CONNECTIVITY

Five Questions for Sergio Aguirre, Gogo Business Aviation AvBuyer caught up with Gogo Business Aviation President Sergio Aguirre to gage his thoughts and perspectives on the wider jet connectivity industry as well as a successful year for his own company… ith the orders stacking up for the AVANCE L5 cabin connectivity solution, and the launch of the AVANCE L3 for smaller jets and turboprops, it’s been a vibrant year for Gogo. And it’s from that position that Mr. Aguirre sat down to discuss those successes and the progress and outlook for the wider jet connectivity industry.

W

AvBuyer: As an industry, we’ve seen some enormous strides made in aircraft connectivity over the past few years. Speaking about those industry advances in general, what is the most satisfying from your perspective?

Aguirre: I would say two things in this regard. First, the rate at which connectivity is being adopted in the Business Aviation marketplace has grown exponentially. As an example, when satellite service first became available a couple decades ago, it took 10 years before 200 aircraft had a system installed.

Today, one of the satellite providers reached 200 installs in a year. (In fact, we’ve reached 200 90

AVBUYER MAGAZINE – October 2018

AVANCE L5 installations in less than that – and 60% of those were new installations, not upgrades.)

Second, the size of the aircraft installing connectivity has expanded tremendously. It used to be only the ‘heavier iron’ aircraft that were adding connectivity, but today we’re seeing growth in all segments from turboprops up. That’s good for passengers and it’s good for providers.

From a Gogo point of view we believe one of the biggest advancements for aircraft connectivity has been the development of the AVANCE platform. The AVANCE platform is truly innovative because it’s a software-centric approach (as opposed to hardware-centric).

That means the units are extremely flexible and scalable – even customizable to the user. So, if you sold an L3-equipped aircraft, the new owner could select the profile they need, and we can adjust it remotely without anyone needing to physically board the aircraft to change the hardware.

We’ve enabled remote diagnostics and solutions, and with L3 you can change configurations remotely to enable greater flexibility

www.AVBUYER.com

Aircraft Index see Page 153

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with the service we provide as the needs of the operator and/or passengers change.

It’s having a big impact on our bottom line because we’re not having to send out a technician to every issue, and it’s having a big impact on the bottom line of users because they no longer have to ground an aircraft and wait for us to get an issue resolved.

AvBuyer: Companies including Gogo have clearly worked hard to improve the connectivity solutions available to smaller jets and turboprops within North America. Given the current restrictions on the hardware (i.e. antennas that can be installed on these smaller aircraft), how much room for improvement is there on the current state-of-theart offerings for smaller aircraft?

Aguirre: From a hardware size and weight, and an antenna size and weight perspective, there’s not much more we can do without a technology shift.

But what you’re seeing, to address that market, is the improvement in passenger experience with the addition of features and functionality, putting it Advertising Enquiries see Page 10

in a smaller form factor and at a price that is aligned with an aircraft’s mission.

The improvement to date has been less about antenna size or even the size of the LRU, but more on improving the value the passenger sees. Today, passengers flying on a smaller jet or even on a turboprop can get the same experience as those on larger aircraft, and that’s a significant advancement.

For smaller aircraft, for example, Gogo offers the AVANCE L3, which is a great system for individuals looking for basic internet and email. We are finding it’s having a higher uptake in the Light jet and Turboprop segments for a couple reasons.

First, its smaller and lighter weight, which is a plus for smaller airframes. Secondly, attractive and affordable service levels are offered for as low as $99/month.

The people who fly those aircraft are generally more cost-conscious and because their missions tend to be shorter they don’t tend to need full-blown connectivity for streaming video or video conferencing. For smaller airframes we’re pleased with the feedback we’re getting from our customers.

www.AVBUYER.com

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AvBuyer: Can you ever see a solution arriving that will bring the best of Ku- and Ka-band internet to smaller jets?

Aguirre: We are not working on anything in that space – our network is delivered via the Ku-band and we don’t have plans to introduce a Ka-band service.

For smaller jets we announced an agreement to be a service provider and value-added manufacturer for Iridium Certus which will deliver global coverage for smaller aircraft frames and the opportunity for safety services. We believe Iridium Certus will be a great fit for smaller jet owners who want global coverage.

AvBuyer: For the larger jets that do currently benefit from satellite connectivity, what’s the next step in enhancing today’s optimum solutions?

Aguirre: The next evolution will not be limited to larger jets – it will apply to a wider segment. The next evolution is in low-earth and medium-earthorbiting satellites that will not require the larger, heavier tail-mount antennas like they do today.

Smaller conformal and low-profile antennas that connect to the lower-flying satellites will make satellite connectivity available to a broader set of aircraft worldwide.

Speaking for Gogo, we have been working to serve the needs of global customers, both today and for the future, and Gogo 2Ku is built on our Ku network providing global connectivity through our global satellite network to the world’s leading commercial airlines and to VVIP aircraft in Business Aviation.

We also announced deployment of a new Gogo Ku product aimed for the Business Aviation market.

With the Ku network, Gogo leverages an open architecture, which means we aren’t limited, and can add capacity by expanding our commercial agreements with the satellite providers.

AvBuyer: What would be the ultimate goal, from your perspective, for aircraft connectivity in the future? How is Gogo working towards that goal currently?

Aguirre: I believe one of the most important characteristics about the AVANCE platform is that it’s one of the first real examples of IoT (Internet of Things) in aviation.

Did you know that with the newest aircraft one wing can have up to 10,000 sensors? The challenge is getting the data from those sensors transmitted as it’s being collected, which we can do with our network and with Gogo AVANCE. As an interesting example, a partnership we have with The Weather Company sees us collect turbulence data and transmit it in real-time. It’s a 92

AVBUYER MAGAZINE – October 2018

“The next evolution will not be limited to larger jets – it will apply to a wider segment.” big change in how turbulence information is provided to the industry.

Also with Gogo AVANCE, sensors in our units are detecting if there are any issues “real time” with our system on the aircraft and it will send messages directly to our technicians regarding the nature of the issue. Our goal is to have no issues, but if something does occur we want to know about it before it becomes an issue for the users on the aircraft.

IoT capabilities on aircraft will have an impact far beyond aviation alone. Cybersecurity will continue to increase in its importance. For Gogo, keeping our customer’s data safe is a top priority.

That’s why we built cybersecurity measures into our systems from the beginning. It’s built into our network and our onboard systems, and we’ve been doing that for a long time.

Gogo is unique in that we own the entire connectivity experience from end-to-end. We own and operate our own network. We own the towers, backhaul and the spectrum. We manage and operate our data centers and we have two data centers which provide security and safety. And, since we manufacture our systems, we own what goes into those, too. T More information from https://business.gogoair.com/

www.AVBUYER.com

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AVIONICS 1.qxp_Finance 18/09/2018 12:43 Page 1

OPERATING T AVIONICS

What’s Your Avionics Panel Worth Today?

Just how much value does an avionics panel upgrade add to a business jet or turboprop today? Jeremy Cox considers, while

offering insight on how avionics evolved and are appraised in aircraft… he segment within the Business Aviation industry that is at the forefront of most aircraft owners’ minds as we rapidly approach 2020 is the avionics sector.

Many are struggling to find a costeffective solution to make their aircraft compliant with Future Air Navigation mandates.

Moreover, Smartphones and Tablets have reprogramed us to expect on-demand delivery of information coupled with tactile control (our ability to point, pinch and swipe).

Following, we’ll provide a historical perspective regarding avionics display technology, and highlight the value increases that will apply to your aircraft should you elect to proceed with an integrated cockpit instrumentation display system upgrade that is currently available to you today.

Avionics means exactly as it reads: ‘Aviation’,

T

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plus ‘Electronics’ equals ‘Avionics’. However, Instruments and Gauges do also come under this category. The roles that avionics play in a cockpit is to allow the crew to: • • • • •

Flight Plan Aviate Communicate Navigate Manage the Flight

Though today’s integrated systems have evolved substantially, historically the first avionics provided only the basics, including: • • • •

Oil Pressure Air Speed Altitude Time

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 Aircraft Index see Page 153

Connectivity.

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Crews will now have inflight access to the internet and their favorite apps. Passengers will enjoy the ability to send and receive emails or text messages, check the weather, make phone calls and more. AeroWave’s low-cost connectivity service plan is based on prepaid hours of use and has nothing to do with data usage. Airtime is only $40 USD per hour, and it works at any altitude. It’s that simple.

Don’t leave your favorite apps behind. Find out how to get globally connected today.

Voice

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Text

To learn more, call 1.855.250.7027, contact your local BendixKing dealer or visit aerospace.honeywell.com/AeroWave ©2018 Honeywell International

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4/13/18 10:37 AM

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OPERATING T AVIONICS

Evolution of Avionics

The RPM/Power of the earliest aero engines were controlled by a ‘blip switch’ which cut the ignition ‘on’ and ‘off’ as the engine ran at full power, therefore no tachometer was required. From these bare-bones cockpit displays more instruments were added, like a magnetic compass and additional engine instruments.

Blind flying became possible with the addition of a gyroscopic Turn and Bank (Slip and Turn) indicator. Eventually, in 1937 the Royal Air Force ruled that an aircraft which was to be flown blind in clouds must be equipped with a Standard ‘6-Pack’ instrument package, installed and arranged as follows (starting top left and visually scanning clockwise): • • • • • •

Airspeed Attitude Altitude Vertical Speed Direction Turn & Bank

Navigation: The means with which to determine an aircrafts’ position has also evolved from the beginning years of aviation. Evolving from the Whisky Compass (used in conjunction with a timepiece) to GPS (with time built-in).

Situational Awareness: The CAA’s Civil Aviation Publication (CAP 737) provides a very succinct definition of Situational Awareness as “Knowing what is going on.”

Before integrated avionics systems were developed, knowing what was going on required 98

AVBUYER MAGAZINE – October 2018

the pilot to monitor and crosscheck a variety of independent analog displays and project a mental picture of where the aircraft was at any particular moment in space and time, which then was plotted on a paper map, while simultaneously monitoring speed, altitude, fuel burn and balance management. Communications/position reporting, and traffic/terrain avoidance were a constant consideration, too.

These mental gymnastics required that a three (or more) person crew was required to legally operate a large, complex passenger aircraft.

The first truly integrated ‘single instrument’ display which depicted an aircraft position relative to compass heading; Non-Directional Beacon (NDB); radial from a VOR, or a localizer beam from an ILS; and an approach glide-path from an ILS was the Horizontal Situation Indicator (HSI).

EFIS: The development of the Electronic Flight Instrumentation System (EFIS), coupled with ‘moving map’ technology has revolutionized the situational awareness of modern aircrews, reducing workloads, and ultimately reducing the number of crewmembers legally required to operate the aircraft, without compromising safety.

The military were the first to install in fighter aircraft in the early 1960s. Boeing started an EFIS design concept for the SST program in the 1970s while at around the same time NASA installed test EFIS systems in its Boeing 737 to evaluate the benefits, downsides and the human factors associated with EFIS. The Boeing 757 and 767 were the first commercial aircraft to be certified with EFIS, while the first business aircraft to have EFIS (as a test

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

Aircraft Index see Page 153

Boutsen October.qxp_Layout 1 17/09/2018 15:17 Page 1

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2012 Legacy 650 - s/n 14501145

2002 Gulfstream GIV SP - s/n 1486

1997 Dassault Falcon 2000 - s/n 037

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1988 Dassault Falcon 50 - s/n 185

2009 Citation Mustang - s/n 510-0182

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1980 King Air E90 - s/n LW-329

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AVIONICS 1.qxp_Finance 18/09/2018 12:45 Page 3

OPERATING T AVIONICS

bed) was a Beechcraft Queen Air. The first to be certified with EFIS was the Dassault Falcon 100 with Collins’ Four-Tube EFIS-85.

Technology Evolution

As with everything in avionics, EFIS has evolved over time, with drastic improvements made in physical hardware weights (reduced), reliability (increased), information/data presented (more data available), display clarity (high-definition) and speed (data refresh, as well as processed calculations).

This evolution can be tracked as follows: • • • • •

First Generation: Cathode Ray Tube (CRT) Second Generation: Light Emitting Diodes (LED) Third Generation: Liquid Crystal Display (LCD) Fourth Generation: LCD back-lit by LED Fifth Generation: Future Projection Displays (currently active with HUDs)

A great example of instrument display evolution can be found by following the standard and optional packages that came with the long-running production of the King Air 90 series - starting with the first model (the 1966 King Air A90), all the way to the present-day King Air C90GTx. • • • •

•

100

The A90, B90, C90, E90 and F90 all came with Electro-Mechanical Instruments.

In 1983 a One-Tube Collins EFIS-84 was offered as an option on the King Air C90A. In 1992 a Two-Tube Collins EFIS-84 was standard on the C90B, with a Four-Tube system offered as an option.

In 2005 the King Air C90GT came standard with Five-Tube Collins EFIS-84, then in 2007 the C90GTi, and later the C90GTx both came with Three-Tube Collins Proline 21.

The current production GTx model, beginning in 2016, has Three-Tube Collins Proline Fusion which is a touch-screen and point-and-click system.

AVBUYER MAGAZINE – October 2018

Current Production Displays

As we go to press, Rockwell Collins’ Proline Fusion is installed as standard equipment in current-production aircraft including the Beechcraft King Air C90GTi/250/350i/350ER; Bombardier Global 5000 and 6000; Embraer Legacy 450 and 500; and Gulfstream G280.

The Garmin G3000 is installed as standard equipment in the Cessna Citation CJ3+ and M2; Cirrus Vision Jet; Daher TBM 930; Embraer Phenom 300; HondaJet; and Piper M600.

Meanwhile, Garmin’s G5000 is installed aboard the Bombardier Learjet 70 and 75; Cessna Citation Latitude, Citation X (no longer in production) and Citation Sovereign+.

Honeywell’s Primus Epic is installed as standard equipment in the Cessna Citation Sovereign; Embraer 175/190; Hawker 4000; and PC-12NG (as Apex), and has been adapted, and customized separately for Gulfstream as PlaneView, and for Dassault as EASy.

Avionics Upgrades & Values

The following systems are currently available for retrofit/upgrade. All are installed under a Supplemental Type Certificate (STC). In each instance, the average expected value increase is listed.

Some installations are unique, and therefore the subsequent realized value might vary from the figures quoted.

Note: these values are not the combined system plus installation cost; instead they are the numbers that would be applied to an aircraft being appraised one year after the system has been installed: Aspen Avionics Upgrades • Evolution 1000 (Two-Tube) from original ‘steam gages’: +$25,000 • Evolution 2500 (Two-Tube) from original ‘steam gages’: +$35,000

www.AVBUYER.com

Aircraft Index see Page 153

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Rockwell Collins Upgrades • Proline 21 Upgrade from original Collins EFIS86, Proline 4 or Honeywell Primus 1000/2000: +$650,000 • Proline Fusion Upgrade from original Proline 21: +$850,000 Universal Upgrade • EFI-890 Upgrade from original ‘steam gages’/Collins EFIS-86: +$120,000

Avionics Rules of Appraisal

Avidyne Upgrades • Alliant (Three-Tube) from original ‘steam gages’: +$75,000 • Entegra 9 (Three-Tube) from original ‘steam gages’: +$125,000 BendixKing Upgrades • Apex (Four-Tube) from original ‘steam gages’: +$80,000 • AeroVue (Three-Tube) from original ‘steam gages’: +$200,000 Garmin Upgrades • G500 Upgrade (single unit) from or iginal ‘steam gages’: +$30,000 • G600 Upgrade (single unit) from original ‘steam gages’: +$40,000 • G950 Upgrade (Three-Tube) from original ‘steam gages’: +$300,000 • G1000 Upgrade (Three-Tube) from original ‘steam gages’: +$400,000 • G3000 Upgrade (Three-Tube) from Proline 21 or similar: +$650,000 • G5000 Upgrade (Three-Tube) from Honeywell Primus 1000 or similar: +$500,000 Genesys (Chelton) Upgrade • 3D EFIS (Four-Tube) from original ‘steam gages’: +$150,000 Honeywell Upgrades • CD-820 or DU-875 LCD EFIS Tubes Upgrade from CRT on an Embraer Legacy/Bombardier Global size aircraft: +$600,000 • Primus Elite 855 LCD EFIS Tubes Upgrade (PlaneDeck): +$700,000 • EASy II ‘Full Boat’ Upgrade (incl. Synthetic Vision from original EASy): +$850,000 • EASy II Upgrade from original Collins Proline 4/Honeywell Primus 2000: +$1, 150,000 Meggitt Magic EFIS Upgrade • (Six-Tube) from original ‘steam gages’: +$45,000 Advertising Enquiries see Page 10

Usually 50-80% of avionics upgrades are ‘realized back’ in a sale after their installation. The true return on investment is ‘market position’, i.e. the better-equipped aircraft usually sell ahead of lesser-equipped aircraft, which is indicated by the days that a used aircraft is available on the market.

With more than 500 Days on Market (DoM) for some aircraft, an avionics retrofit/upgrade (possibly coupled with a paint and interior refurbishment) will likely make your aircraft the next to sell, instead of the last.

It is important to note that in the case of a highly-desired and/or necessary upgrade, such as Controller Pilot DataLink Communications (CPDLC), ADS-B, High-Speed Internet driven Wi-Fi, etc. 100% of their total cost could be added to the appraised value of the aircraft.

In the case of compliance equipment installations, this value increase shall eventually be driven down to ‘zero’, once the mandated deadline has passed.

When I appraise an aircraft that has been upgraded, I adjust the values (depreciate) of the installed Avionics based upon a 5% per year schedule up to 12 years, or 40% residual value. If the avionics are older than 12-years I just flat-rate their depreciated value at 40% of their original cost.

If the avionics are ‘serviceable as removed’ and are being sold as surplus parts, the residual value equates directly to the market value, which is at (or below) 10% of their new, uninstalled values - often merely ‘pennies on a dollar’.

If you are surprised by this, look at eBay to see the many ‘serviceable as removed’ avionics that are being advertised there. Their ‘Buy It Now’ prices might shock you…T

Jeremy Cox is Vice President at JetBrokers, Inc, a National Aircraft Appraisers Association (NAAA) Senior Certified Aircraft Appraiser, as well as a NAAA Qualified Buyer’s Agent. Jeremy has been a Director of Maintenance for several different companies and employed by several airframe OEMs’ independent Service Centers.

Contact him via jcox@jetbrokers.com

www.AVBUYER.com

October 2018 – AVBUYER MAGAZINE

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Avionics Oct18.qxp_Finance 19/09/2018 09:34 Page 1

OPERATING T AVIONICS

LPV: Is it Really Worth the Upgrade Cost?

Is PBN/LPV really worth the upgrade? Mario Pierobon speaks with BendixKing about the reasons for operators to upgrade, the costs and benefits, and the wider effort towards the use of GNSS technology (including ADS-B).

A

mong the PBN specifications that are of interest to Business Aviation, LPV has a central role to play and there are several reasons why operators, even those of older aircraft, should upgrade to LPV. Localiser Performance with Vertical Guidance (LPV) capability allows a pilot to safely and precisely descend to within 60-76 metres of the runway. It works in coordination with an SBAS, which is a system of satellites and ground stations that provide GNSS signal corrections.

“This is one of the most accurate systems you

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AVBUYER MAGAZINE – October 2018

can get, accurate to within two metres,” Gregg Cohen, president of BendixKing tells us. “The precision of the combined technologies allows for much safer approaches and gives pilots peace of mind in knowing that they are flying with the most up-to-date and accurate navigation systems.

“While operators of older aircraft may be discouraged from upgrading for reasons such as cost, or the fact that they have been able to fly previously without the technology it is key for them to be acutely aware of the safety benefits that LPV capability brings.”

www.AVBUYER.com

Aircraft Index see Page 153

Avionics Oct18.qxp_Finance 18/09/2018 12:31 Page 2

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 marioprbn@gmail.com

every operator’s list to ensure their aircraft is flying with the safest solutions on-board,” Cohen emphasizes.

LPV Cost and Benefit Analysis

Among the benefits, LPV enables operators to utilize an aircraft in more locations because of the greater quality of information provided to the pilot about the aircraft’s location. “Pilots are able to confidently work in environments that require lower approaches to the runaway, such as airports within rural areas,” Cohen elaborates.

“Pilots are also able to land at smaller, regional airports that may not have the infrastructure or facilities offered by larger airports. This allows operators to benefit from safety standards comparable to the ‘gold-standard’ Instrument Landing System (ILS) approach, at airports which do not have ILS capability.

“Such capability isn’t feasible for all small, community airports owing to the high costs of installing the technology (around $2 million per runway end). So LPV allows low-cost operators to use these airports to maintain their business model without compromising on safety.

“While operators may have flown without LPV previously, installation should be at the top of Advertising Enquiries see Page 10

As mentioned, one of the challenges an operator may face is justifying the cost of retrofit in an older business jet. “While retrofitting can be an expensive process, we must remember the benefits that installing new hardware will bring,” suggests Cohen.

“The system that LPV revolves around uses SBAS to improve the information a pilot receives for greater control of their flying environment. (The BendixKing KSN 770 is a good example of a system that offers capabilities to a pilot, including features like a large touchscreen size and the option to split screens. We offer an efficient solution at a great value, allowing operators to use the most advanced and safe system, while saving on unit and installation costs.)

“The key benefit to installing LPV is efficiency.

LPV allows pilots to fly into more airports globally, in adverse weather conditions. Essentially it is about saving time and costs through reduced landing fees and shorter flight times.”

Indeed, there is a good chance that operators will find more missions can be flown, thanks to LPV capability, in the medium-to-long run when an operator upgrades to LPV, as Cohen explains.

“BendixKing has been developing LPV systems since 2007, and the FAA has confirmed that in that time we have increased the amount of flights our customers are able to undertake by more than 3,500. As many as 2,000 of those served more than 50% non-ILS airports.

“This was only made possible by the increased capabilities that LPV affords operators with its stepup in accuracy,” Cohen highlights.

Meeting the ADS-B Mandate

Of course, a PBN capability upgrade should be placed in the context of an ever-growing use of satellite-based GNSS technology in the aviation industry, which includes ADS-B. Whether operators are based in the US or Europe, the mandate to comply with ADS-B requirements must be met by 2020. While meeting the mandate is essential to continuing to fly beyond the deadline, it is far from the only benefit offered by an ADS-B upgrade.

Being equipped with ADS-B means that traffic, 

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OPERATING T AVIONICS

“It also means that by moving towards a satellite-based system, areas that don’t have radar coverage will have surveillance.” weather and aeronautical information services can become available to the user free of charge, comparable to a mid-to-high-level XM subscription. And information that ADS-B users will receive in the future may expand to become even more comprehensive.

“ADS-B brings great safety benefits, with cockpit displays pinpointing hazardous terrain and weather, and delivering vital information such as temporary restrictions,” Cohen explains. “It also means that by moving towards a satellite-based system, areas that don’t have radar coverage will have surveillance.

“For example, there is scope for future development of the technology around ADS-B to display warnings to pilots about potential collisions. Honeywell offers a range of solutions to upgrade transponders and technology in the cockpit to ensure the aircraft is ready to fly.

“In addition to the ADS-B Out solution, which uses satellite-based GNSS technology to determine aircraft location and airspeed, Honeywell also offers Future Air Navigation Systems (FANS), which provides datalink communication between pilot and ATC, ensuring more aircraft can fly safely in any given amount of airspace,” Cohen adds.

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many companies showcasing programs available for operators and owners to upgrade their aircraft.

Honeywell, for example, offers numerous ADS-B options and packages for a multitude of aircraft and avionics providers (not exclusively limited to Honeywell), and is working with facilities to service aircraft right away.

“Honeywell is also actively developing products to support in-service aircraft to meet these mandates and has already implemented a number of ADS-B upgrades for aircraft,” Cohen offers.

As the ADS-B mandate is for all aircraft, the longer operators put off upgrading, the greater the bottleneck is going to be when there are only a few months left to upgrade.

“To beat the rush, we recommend owners and operators begin planning their upgrades now, and have their aircraft scheduled for upgrades with their avionics centre by July 2019,” Cohen warns.

“By upgrading sooner than later, owners and operators will save money and time by avoiding long waits at the avionics centre.

“If owners and operators want to ensure that they are able to fly the routes they want come the 2020 deadlines, they need to upgrade and meet the mandate,” he concludes.

More information from www.bendixking.com T

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Aircraft Index see Page 153

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Management.qxp_Finance 20/09/2018 11:55 Page 1

OPERATING T MANAGEMENT

How to Hire and Keep Pilots Without Breaking the Bank Is pilot retention in a time of impending shortage based only on pay? What can a Flight Department Manager be doing to create a workplace that attracts and retains the best of a shrinking pool? Aviation Director Andre Fodor discusses... he current hot topic within Flight Department circles has been the impending shortage of flight crews within corporate aviation. Meanwhile the Scheduled Airlines are expanding, and a growing number of senior pilots are edging towards retirement age. This is not the easiest of times for hiring and retaining Flight Department personnel.

A glance through my social media feeds confirm not only that pilots are transitioning to airline jobs but that there is a ‘merry-go-round’ of experienced corporate pilots seeking the best opportunities within Business Aviation.

T

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While it is true there are benefits to attract pilots to the Airlines (predictable schedules, strong benefits package, position longevity and hopefully long-term stability), on the flip side for those who love corporate flying, would be the loss of direct interaction with passengers, the novelty of flying to new airports and destinations, and undertaking challenging trips.

Until recently I had no doubt that becoming a professional pilot was more a matter of vocation than a practical career choice. The return on investment has been unbalanced when compared to other careers that offer lower training costs and

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Management.qxp_Finance 18/09/2018 12:25 Page 2

“Human resources will consider the base pay of pilots, but within the context of the total compensation package...” more immediate financial rewards – and this has forced many potential pilots to choose a different professional path.

So how does a corporate Flight Department attract and retain the best of a shrinking pool of qualified staff?

What Constitutes ‘Good Compensation’?

Recently, having spoken with a pilot who felt our compensation trailed the industry standard I reassessed the salary structure of the Flight Department. The pilot asserted that there were better-paid jobs available for pilots qualified in the cabin class he flies.

Though I felt our compensation was fair and in line with industry standards, it was important to keep an open mind, research the matter and provide an informed answer.

A Flight Department Manager will require a deep understanding of compensation trends before approaching the company leadership.

Human resources will consider the base pay of pilots, but within the context of the total compensation package: the summation of salary, company contributions towards retirement and investment plans and even the cost of benefits such as medical and life insurance.

So where can you begin your research? Several salary surveys are available for pilots and most are published annually. By charting those year-by-year you will get an outline of the direction compensation is moving.

Advertising Enquiries see Page 10

Canvassing other pilots and management can also add detail to the bigger picture of where compensation stands, but in return, be prepared to share data with them.

Armed with some basic data, you will need to qualify that data. For example, the value of money changes according to geography. The cost of living in California is 52% higher than in Florida, so this difference in basic salary cannot render an applesto-apples comparison.

A little research revealed that those “high paying” jobs I’d been told about where all based in high cost-of-living areas. Even with an aggressive salary offer, it can be just as difficult for those Flight Departments to attract pilots willing to relocate.

As another example, experience shows that consideration of the aircraft size flown has also been used as a reference point for pilots seeking higher compensation. But a pilot that flies a smaller aircraft in the same Flight Department, making more stops en route and flying the bulk of the shorter legs with fewer on-board comforts could make a case for equal payment, too.

Getting Beyond the Salary

Human Resources professionals will tell you that the practice of simply matching the top salaries advertised elsewhere is bad business. There will always be someone, somewhere trying to entice your top talent with more money.

Invariably (and for the reasons discussed) salary

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OPERATING T MANAGEMENT

“The successful company pays well, but also provides tangible and intangible benefits that add value to the work experience.” alone is not a true representation of a good overall work package. A savvy HR’s goal will be to generally compensate at the same level that 75% of the industry is paying for equivalent positions.

The successful company pays well, but also provides tangible and intangible benefits that add value to the work experience.

As an example, does your Flight Department team know that they will be home for major holidays and that there will be no micromanagement if they are meeting their goal assignments? Do you, as Flight Department Manager, try to respect personal time off, innovate and provide an exciting and dynamic workplace?

Together with company benefits, these can become a total package that builds loyalty and staying-power among pilots and staff at a time a shortage is looming. A good package is essential for team retention.

For the record, I found that a salary adjustment was indeed necessary, and armed with good arguments and powerful data experienced no push-back from HR. The current market is a positive one for pilots, and a Flight Department with a competitive overall compensation offering has an opportunity to grow

and attract new talent who might be better matched for corporate flying than the airlines.

Note of Caution

We must beware at this time of impending shortage, that salaries alone are not indicators of a great job or workplace satisfaction. The right balance provides good compensation and a great workplace experience that is tied with selecting the right candidate for your corporate operation.

It should also prevent your Flight Department and flight crew from joining the merry-go-round of experienced pilots chasing better opportunities, as evidenced on social media… T

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

AvBuyer - Read by Flight Departments Throughout the World 110

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Maintenance 2 KE.qxp_Finance 18/09/2018 12:08 Page 1

OPERATING T MAINTENANCE

What are Your Aircraft Upgrade Priorities? (Part 3) In this concluding part of our Aircraft Upgrade Priorities series, Ken Elliott discusses the specific priorities, return on investment, timing and other considerations of the options available...

W

ith the onrush of the ADS-B Out 2020 compliance-tsunami, there is hardly time in the day for avionic departments and independent shops to consider and include other aircraft improvements. But for a significant number of operators, maximizing use of the downtime is crucial to overall cost savings in their maintenance.

Others take the attitude of doing what they have to and nothing more.

It is precisely that variability in Flight Department expectations that makes it difficult for shops to plan and predict what will happen between now and 2020.

Depending upon where you operate, the 2020 compliance date for ADS-B can vary (with the US being January 1 and Europe being June 7). In

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some cases, customers are inclined to deliberate and then add work either later in the proposal process (or even while an aircraft is in-house), extending downtime and impacting the broader maintenance facility schedule.

Priority

In fact, it is best to view aircraft maintenance holistically and not in isolation. There are several drivers that set the priorities for service and upgrade. Chart A (opposite) features a series of aircraft blocks with a suggestion of their priority (the order of significance is suggested from top left to bottom right).

For operators, setting priority is an individual and varied process, because of their different needs. Chart A should, however, set a framework

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Aircraft Index see Page 153

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to establish your priorities. The blocks can be edited with actual proposed activity and moved around to provide clarity to what can be a complex and difficult task.

In turn, each block may be further broken out.

With cabin refurbishment for example, operators can choose between cleaning up an interior or replacing it, while considering many options in between.

Once an operator has the blocks prioritized, including any breakouts, it is time to look at connections between the blocks. An excellent example is between Avionics and Cabin, where access required for avionics, could mean cost savings and a ‘proceed’ decision on an optional cabin refurbishment.

If the avionics is mandated or required to meet your operation needs, and it is necessary to gain cabin access, then the connection between the blocks will be stronger, providing a powerful business case for the optional item.

Downtime

Priorities are impacted by your schedule, the Maintenance Repair Organization’s (MRO) schedule, downtime and of course price. At a minimum you should plan on a downtime overage and also for price. For all sorts of good reasons even the best shops run over on jobs (though in most cases by no more than an extra day for every week of scheduled downtime).

Another good rule-of-thumb is to budget more time whenever access is required. Shops can take longer than estimated to remove and re-install the cosmetic and functional interiors of aircraft. This is because many interiors are different (even for the same aircraft model) and mechanics are trained to be careful not to damage or soil anything.

Customers typically do not divulge their foresight to budget more time (and money), and that makes sense. If the owner sees the aircraft return a day or two earlier than advised it certainly makes the Flight Department look efficient. Of course, shops can never assume customers have planned for additional time (and cost).

With the pressure of ADS-B and FANS upgrades underway it is wise to anticipate some delay in your schedule. A problem suddenly encountered on another aircraft in the hangar could indirectly affect the manpower and logistics applied to your upgrade.

Essentially, customers need to create flexibility in their schedule, and whenever possible arrange for a customer office and be around during the work. Creating a fuss, however justified, never serves its intended purpose in the long-term. It is wiser to plan for issues.

Cost

Costs can only be accurate if adequate planning and proposal preparation has been completed.

Several factors that can occur during aircraft



“Another good rule-of-thumb is to budget more time whenever access is required.”

Chart A: Blocks of Activity and a Suggestion of Priority

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OPERATING T MAINTENANCE Chart B: Unpredictable Cost Impacts Cockpit tight spaces and unique layouts

Greater access required

Hidden damage

An error in the records

Listed but not installed

Cabin challenges with headliner and galley

Removed as part of earlier upgrade or mod

Equipment bays full or harness may need reroute

Installed but in different location than specified

Previous workmanship

Wrong hardware part number with dash number being crucial

Part number or software error

Existing function inoperative and not used - now needed

Wear and tear not previously noticed

Wrong software number or update disk/drive

Mismatch for upgrade

“If retrofitting a used aircraft, check with the MRO to ensure all certification material is adequate for other civil aviation authorities.” modifications may influence final costs. Chart B (above) outlines some of these and includes examples.

One way to mitigate cost surprises is to ensure the repair or installation facility is provided easy access to all your aircraft records and not just those you think they may need. Invite the shop to send a sales or customer service representative to inspect the aircraft and review all records in your own hangar, extending that invitation months ahead of the scheduled downtime.

The shop may elect to send an engineer or technician and for a complex project, cover the cost, because they can save so much wasted time by thorough and efficient research on the front end.

Also, by choosing to babysit the aircraft during the work you will be readily available to answer questions and help resolve issues, saving the facility hours or days of intense and unnecessary effort.

Certification Considerations

Beyond ADS-B and FANS there are several potentially useful upgrades to consider, but certifying them can be an arduous process.

•

114

Newer aircraft will be under the watchful eye of the OEM and upgraded by factory bulletins or package upgrades, where multiple changes are accomplished within the same work scope.

A good example of the latter is the Gulfstream G550 Certification Foxtrot Upgrade as an Aircraft Service Change (ASC) that includes various navigation capability improvements. This rolls FANS, WAAS-LPV as well as paperless charts and maps into a one downtime event of the aircraft at a Gulfstream-owned service center.

If providing the equipage certification path is internationally-recognized through what are known as ‘familiarization programs’, the modification of an aircraft should not be an issue for resale.

If retrofitting a used aircraft, check with the MRO to ensure all certification material is adequate for other civil aviation authorities.

The aircraft may be certifiable for release in the country where the work is completed, but for other reasons not be approved to enter a new country register for not meeting local compliance requirements.

What Does the Future Hold?

Older airframes typically will be modified, and apart from minor alterations will require Supplemental Type Certificate (STC) involvement;

AVBUYER MAGAZINE – October 2018

•

The current round of necessary and desirable upgrades includes those that are often discussed, such as ADS-B Out, FANS, Performance Based Navigation, cabin systems and satellite communications.

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Aircraft Index see Page 153

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Maintenance 2 KE.qxp_Finance 19/09/2018 09:38 Page 4

OPERATING T MAINTENANCE Chart C: Technology Upgrades for Now and for Tomorrow

EXISTING AND CURRENT

EFBs*

WAASLPV

Cockpit Displays

Internet Wi-Fi

Winglets

ADS-B LINK2000 FANS

Digital Charts +Maps

EMERGING AND FUTURE

3D MultiScan Radar

CVS*

4G BB*

Ka-Band

iOS Android Connect

Space Based ADS-B

4D Nav

*EFB - Electronic Flight Bag *CVS - Combined Vision System *BB - Broadband

“...be patient, plan with extra time and cost, and always consider the resaleability of the aircraft.”

On the horizon however, and migrating into new airframes, are extensions of these existing technologies including 4G broadband via air-toground (ATG), Ka-band via satellite, space-based ADS-B worldwide via satellite, expanded radar functionality and trajectory time-based 4D navigation. Also, new combined vision technologies and lightweight glare shield HUDs are proving to be a popular option in smaller jets and turboprops. Within the cabin, improvements are constant while playing catchup with iOS and Android personal applications and features occurring in home and business domains.

In Summary

As Chart C (above) shows there is plenty to be concerned with today, never mind tomorrow. Used jets and turboprops are constantly chasing the tails of their newer cousins when it comes to technology.

For years industry held back on upgrading the avionics suite of the Bombardier Challenger 604 as the aircraft’s value dropped (reducing the return on investment case). However, as with other platforms this popular and reliable model is here to stay and eventually the avionics suite supplier (Rockwell Collins) decided to include its Proline Fusion as an upgrade option.

This lag demonstrates just how difficult it must be for owners to know what to do with their aircraft as they wait for industry to decide on options to be 116

AVBUYER MAGAZINE – October 2018

made available. For OEMs it is the same as it is for owners – it’s all about return on investment and the business case to invest in an upgrade program.

As we move to more scalable technologies improvements will be intuitive. They will be software (not hardware) based, or at the most will involve the replacement of an easy to replace plug in module. Meanwhile, be patient, plan with extra time and cost, and always consider the resaleability of the aircraft.

Imagine your aircraft next to an identical twin on the resale lot and then consider its preferability to others as you select possible product improvements. A buyer’s decision can hinge on one small feature being available on one aircraft and not on another… T Ken Elliott is a highly-respected industry authority on avionics as a member of the NextGen Advisory Council sub-committee and Technical Director, Avionics at Jetcraft. Contact him via ken.elliott@jetcraft.com or www.jetcraft.com

Intelligent Decisions on Aircraft Upgrades with AvBuyer

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OPERATING T REFURBISHMENTS

When Does an Upgrade Improve an Aircraft’s Value?

How can buyers and sellers ensure their aircraft upgrades add value either to the aircraft, or to their operations. What should and

shouldn’t factor in a decision to

refurbish? Dave Higdon discusses… hen it comes to seeking out a good deal on a used business jet or turboprop, buyers often fall into one of two different camps. Each have their merits providing those buyers recognize the limitations of their plans.

One type of buyer looks for that ideal used jet or turboprop with everything up to standard, including the paint, interior, avionics panel and powerplants.

This type of buyer wants a ‘turnkey s olution’, requiring nothing but moving from Pre-Purchase Inspection to closing.

The other type of buyer is seeking a deal on a candidate aircraft – one that is priced in recognition of its potential. That potential is achievable with a little upgrade work. Buyers in this camp usually acquire their aircraft at a less-than-optimal price allowing them to spend improvement dollars as and when it suits them.

The trick for this type of buyer is to have a full understanding of the potential cost of the required work as well as the price of interim lift while the upgrades are accomplished, leading to an important question: What represents an over-spend by someone (whether buyer or seller) looking to improve a jet?

Bear in mind that nothing can more-completely

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overload good judgment than a seller or buyer wrapped aro und the axle of their own emotions – when the frenzy to own a particular candidate aircraft overwhelms all logic. In such a scenario, overspending becomes a distinct possibility.

Inside Issues - Generic Questions

As mentioned above, aircraft upgrades fall under one of four headings: Flight deck; powerplant; interior; or exterior. Two (powerplants and flight deck) offer financial and operational benefits with improved fuel efficiency and routing capabilities.

Exterior and interior may provide little by way of performance gain, but their emotional impacts can effect a selling price. When it comes to making an impression, how does the interior present? Also, what is the current status of the interior?

Consider answering these questions before diving into your interior options which can make a strong head sp in by their sheer volume.

1) How much refurbishment is warranted? Not all the interior materials age and wear at the same speed; headliners, for example, tend to wear better than carpets and seating surfaces. Consider the condition of the interior and refurbishing only those surfaces showing wear, potentially saving big bucks.

www.AVBUYER.com

Aircraft Index see Page 153

Refurbishment DH.qxp_Finance 18/09/2018 12:15 Page 2

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

2) Durability: Generally, the better the materials are, the longer that ‘new’ look lasts.

Manufacturers of interior materials typically offer a wide array of choices from the most-frugal of synthetic materials to the most-durable of natural substances at higher costs.

For aircraft flying above-average hours, the better the materials used the longer they tend to endure over long-term use; airplanes flown much less often may get by with less-durable materials.

3) Storage space: With a partial refurbishment, the operator may have few options other than to stick with the original floor plan (as opposed to the options presented by undertaking a full refurbishment which allows a complete redesign of the floor-plan and even expansion of available storage space).

4) Planning mobile office and in-flight entertainment (IFE) options: Take time on this option particularly if the candidate aircraft currently lacks IFE or airborne-office accouterments. Since the main cabin is where all but the flight crew spend most of their time, it's important that the cabin's functions merge with the travel habit of the passengers.

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5) Know all your options: Much like cell phones and computers the options for cabin refurbishment continue to expand and rapidly evolve, with many new options available for older aircraft with new options continually emerging.

For example, your aircraft may already employ IFE hardware from a decade ago that weighs more and draws more power and the newest equipment available. On top of these benefits, the new equipment often work s better, faster and more easily than the older products they replaced. Even though the existing system performs well, there could be plenty of advantage to replacing it.

The same often applies to the newest airborneoffice equipment. So be sure you examine options for upgrading systems already installed – not merely for replacing old and worn materials.

Avoiding Overspending

What is naked excess for one operator may be a bare minimum for another, so it's difficult to advise someone on the nature of spending too much.

Individual tastes and budgets vary widely.

Nevertheless, several interior specialists recommended setting a refurbishment budget based on a variety of factors, including how long the operator intends to keep the aircraft. For a so-called

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October 2018 – AVBUYER MAGAZINE

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Refurbishment DH.qxp_Finance 18/09/2018 12:19 Page 3

OPERATING T REFURBISHMENTS “keeper” aircraft defining overspending can be difficult; for operators flying a rapid-sale candidate, however, any amount of money represents excessive spending. Frame the project on that basis.

But what represents an over-spend for someone looking to sell a jet? Generally speaking, any upgrades beyond what's needed to keep the aircraft productive and operating efficiently – work for which little to no cost can be recovered in the sale.

Enter Upgrade Projects With Caution

One quick way to acquire a pig in a poke is to make judgments based solely on surface appearances. A fresh interior, particularly a budget re-upholstery, may hide other issues. It’s always advisable to hire expertise to investigate more fully.

Dirty carpets can be cleaned to look virtually new for far less than the costs of replacement; ditto for upholstery, metal bright works and wood finishes.

They may look bad but still be serviceable and salvageable with a low-cost trip to the aircraftdetailing shop.

So Which Upgrades Pay?

Experts in the field advise that some upgrades offer a long-term improvement in market value, while others do little or nothing to enhance a sales price, despite costing a fair amount of money.

The older the aircraft and its finish, the more value the owner may gain from a full paint-and-upholstery upgrade. And even partial upgrades can deliver outsized price boosts.

Avionics may not make the aircraft faster, but they

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can improve en route performance thanks to the wider array of new instrument approach procedures while saving fuel through more-direct routing available with WAAS GPS. And that upgrade would be a perfect time to resolve the ADS-B upgrade requirement, due by January 1, 2020.

Upgrading to new, more-modern engines – particularly on older jets and turboprops – may actually cost less than overhauling the original powerplants while also delivering life-long reductions in fuel consumption, thanks to the low er specific fuel consumption numbers of today's modern turbine engines.

And with longer overhaul intervals the owner who upgrades to modern engines ensures the operation of reduced fuel costs for the duration of those engines lives.

Timing is Everything...

Some upgrades, particularly partial improvements, can be accomplished during the downtime of an annual inspection, saving money and loss-of-aircraft time.

Other upgrades, such as powerplant changes, are most easily accomplished when the time arrives for an engine overhaul. The operator can compound the savings by planning the upgrade to coincide with when the overhaul becomes necessary.

Panel, interior and paint may be the mostchallenging to time, but by grouping together multiple improvements in one shop visit the operator can at least minimize downtime – while waiting for that newly improved aircraft to return to service. T

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(#02&512510/,/1'350.5-245-'5+0'4 .5&/4135%0+4.3-24."5 -/51++50234/4.34* $1/304. 515.4,(/4512*54''0,042353/12.1,30-250.53)45- 4,30!4"5 .,/- &423.5,1254''4,30!4+#5%030&13453)45/0. 502!-+!4* 51,302&51.524(3/1+ 2- +4*&41 +4 512*5.4,(/453)0/*5$1/304.53-5%121&453)45/4 (0/4*5.1+4. *-,(%423130-2512*5'(2*.5/4 (0/4*502512#510/,/1'35.1+4.53/12.1,30-2" )45 .,/- 5$/-,4..5'1,4.5.-%45,)1++42&4.53)-(&) 5$/-34,302&541,) .0*45-'53)453/12.1,30-2 512*53)45 .,/- 5 &423 -%$12#503.4+'"5 ..(4. ,1251/0.45'/-%5+1, 5-'502'-/%130-2 5,+1/03# 5$+12202& 512*51 1/424.."

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Advertising Enquiries see Page 10

www.AvBuyer.com

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Community News Sept18.qxp_Layout 1 19/09/2018 15:23 Page 1

COMMUNITY NEWS T REVIEW

OEM Bites

Airbus Corporate Jets’ first ACJ320neo has been assembled on program, fitted with CFM International LEAP-1A engines in preparation for a first flight. After delivery to UK-based Acropolis Aviation, it will enter outfitting at AMAC in Basle, Switzerland, where an Alberto Pinto-designed cabin will be installed. www.airbus.com

Bombardier Upgrades Learjet 75/70

Bombardier and Garmin announced a significant avionics upgrade for the Bombardier Vision flight deck aboard the Learjet 75 and Learjet 70 aircraft… quipped with one of the category’s most generous and advanced cockpits powered by the Garmin G5000 avionics suite, the Learjet 70/75 cockpit upgrade (currently in flight-testing), is aimed at enhancing the aircraft’s capabilities for customers to access the most favourable routes as well as pave the way for future technological enhancements.

Bombardier markets the Learjet 75

E

aircraft as the best performing productivity business tool in the light category, and this avionics enhancement takes the aircraft to a new level of efficiency and effectiveness.

The updated avionics suite will be offered on new Learjet 75 and Learjet 70 business jets with a retrofit on in-service models made available concurrently.

More information from www.businessaircraft.bombardier.com

The BEST AIRCRAFT FOR SALE SEARCH anywhere, everywhere - on pc, smartphone and tablet.

I P

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AVBUYER MAGAZINE – October 2018

I B

All in Aviation, the Las Vegas-based Fixed-Base Operator is offering highend adventure-seeking pilots and soon-to-be Cirrus SF50 Vision Jet owners dual flight lesson packages, beginning at $1,500 per hour. www.allinaviation.com

I E

www.AVBUYER.com

Embraer Executive Jets has delivered the fifth Legacy 450 medium cabin business jet to AirSprint, a Canadian privately held fractional ownership company based in Calgary, Alberta. A purchase agreement for up to 12 Legacy 450 jets was signed in July 2016 at an estimated value of US$198m. www.embraerexecutivejets.com

Aircraft Index see Page 153



JetNet October.qxp_Layout 1 17/09/2018 15:25 Page 1

YOUR SEARCH requires that you review dozens of aircraft listings to identify a select few that are right for your client.

So you can search faster, easier, and XJUI NPSF DPOmEFODF 5P mOE UIF QFSGFDU POF and seal the deal.

KNOW MORE.

The World Leader in Aviation Market Intelligence 800.553.8638 +1.315.797.4420 +41 (0) 43.243.7056 jetnet.com VISIT THE JETNET EXHIBIT AT THE NBAA CONVENTION, OCTOBER 16-18 IN ORLANDO, FLORIDA, BOOTH #4449

Community News Sept18.qxp_Layout 1 19/09/2018 15:24 Page 2

COMMUNITY NEWS T REVIEW

OEM Bites

Enstrom Corporation has certified Appareo’s Vision 1000, a cockpit recording device that captures attitude data, WAAS GPS, cockpit imaging, and ambient audio, in the Enstrom 480B turbine helicopter. FAA certification for the Vision 1000 was granted in June followed by EASA and the Brazilian ANAC. www.enstromhelicopter.com

Supersonic Flight and the Environment Vik Kachoria, President & CEO of Spike Aerospace believes it to be “unacceptable and irresponsible” to advance technology or transportation at the detriment of the environment or the community. achoria elaborates, “Recently, President Trump has proposed relaxing the strict Obama-era emissions standards on coal power plants and California’s tough car fuel economy standards.

“While I support many of his business proposals, I find relaxing emissions standards dangerous and backwards rather than the direction we should be headed.”

In sharp contrast, Spike Aerospace is designing an advanced supersonic jet (Spike S-512) with the promise to minimize emissions, maximize fuel efficiency and economy, and reduce noise around airport zones.

At the same time, Spike has ongoing

K

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AVBUYER MAGAZINE – October 2018

discussions with FAA, NASA, ICAO, EASA and others to ensure the aircraft meets stringent requirements prescribed in FAA Stage 5 and ICAO Chapter 14 regulations – and additional requirements are likely to require being met before the Spike S512 is certified to fly over land or over water.

“Our hope is that before environmental groups lobby the Senate to ban supersonic flight, they seek to understand more about what Spike Aerospace and our competitors are doing to minimize the impact,” a spokesperson from Spike offered.

More information from www.spikeaerospace.com

www.AVBUYER.com

Gama Aviation won an aircraft management contract for a Jersey-based Cessna Citation XLS aircraft. This comes after a series of recent wins with the Group having added a Bombardier Global 5000, a Gulfstream G650ER and two light jets to its global fleet over the last two months. www.gamaaviation.com

Milestone Aviation Group and Airbus Helicopters will provide five H145s to Aramco Overseas Company, a subsidiary of Saudi Aramco, a fully integrated, global petroleum and chemicals enterprise. More than 200 H145s have been delivered to date and have collectively achieved more than 100,000 flight hours since 2015. www.milestoneaviation.com



Aircraft Index see Page 153

Comlux Boeing Max 8 October.qxp 19/09/2018 12:12 Page 1

Courtesy of Boeing

2020 Boeing BBJ MAX 8 Serial Number: TBD

Location: TBD

Comlux is offering exclusively for sale one Boeing BBJ MAX 8 to be delivered green in January 2020 Comlux has collaborated with some of the most prestigious designers worldwide to develop new cabin designs which can be further customized according to buyer’s requirements and personal taste. The cabin completion will be performed by Comlux Completion, Indianapolis USA and the aircraft will be redelivered fully completed by January 2021.

Green Delivery: January 2020 Cabin interior: to be defined as per customer requirements Engines: CFM LEAP 1B Available: January 2021 fully completed

Design concept by Alberto Pinto

Design concept by Unique Aircraft

Design concept by Design Q

Design concept by Winch Design

Comlux Transactions Stockerstrasse 57 CH-8002 Zurich Switzerland

Advertising Enquiries see Page 10

www.AvBuyer.com

Tel: +41 44 205 50 70 Email: aircraftsales@comlux.com www.comlux.com

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Community News Sept18.qxp_Layout 1 19/09/2018 15:24 Page 3

COMMUNITY NEWS T PEOPLE John Mansfield has been appointed manager of satellite operations and mobile repair at West Star Aviation.

Samantha Butero has been appointed director of marketing and business development at Global Aviation. Butero previously served as director of business development and regional sales for Tronair.

Stephanie Chung has been appointed president of JetSuite where she will be responsible for sales, revenue management, marketing, guest services and performance of the brand.

Mike McCafferty was named Northeast vice president for Guardian Jet. McCafferty was formerly the regional sales director at Flexjet.

John King

Danny Di Perna is the new aerospace COO at Bombardier.

Nick Newby is the new director of jet sales at Exclusive Aircraft Sales. Newby has 20 years of industry experience and has received three Leading Edge awards from Cessna.

Ulrich Gehling assumed the position of CEO of INAIRVATION. His track record includes executive positions at Pilatus Aircraft, Grob Aerospace, RUAG Aviation and others.

Edward M. Kilkeary Jr has been named president and CEO at L.J. Aviation. Kilkeary is an ATP-rated pilot with more than 10,000 flight hours and began his career at L.J. in 1991.

Sean McGeough has joined Wheels Up as its executive vice president of global sales. Previously, McGeough had served at Aerion Supersonic.

Anthony Loniero

Charles Noble has been named director of Canadian sales and technical support for Dallas Avionics.

Noble previously worked for GE and Honeywell.

John King was recently appointed by Gulfstream as director of its Field and Airborne Support Teams (FAST) Operations.

Kerry Olson has been promoted to director of operations for paint and interior at Elliott Aviation.

Olson, who joined Elliott in 2016, has more than 20 years of MRO experience.

Scott LaFleur has been appointed senior sales manager for Constant Aviation’s rotable exchange division.

Pedro Ruiz was recently promoted to the position of regional vice president of new aircraft sales for Brazil and southern South America, Gulfstream.

Sean McGeough

Olivier Langeard becomes director, Aftermarket Programmes & Business Development at Dassault Falcon Jet. Anthony (Rennie) Loniero is the new manager at Duncan Aviation’s Satellite Avionics Shop in Van Nuys, California. He will oversee the avionics activity and installation work at Van Nuys and at the San Diego workaway station.

Michael Thompson has been appointed JetLoan Capital’s director of marketing. He will be responsible for increasing the company’s presence in the general aviation and business jet financing markets.

Cole White

Cole White has been promoted by the Mente Group to be the aviation advisory firm's vice president of Strategic Consulting. Previously, he was director of Strategic Consulting.

AOPA – Fly-in Oct 5 - 6, Carbondale, IL, USA www.aopa.org

Bombardier Safety Standdown Oct 30 – Nov 1 Wichita, KS, USA www.safetystanddown.com

Corporate Jet Investor Miami 2018 Nov 13 – 14 Miami Beach, FL, USA www.corporatejetinvestor.com

NBAA: Tax & Risk Man.Conf.

Oct. 14 – 15, Orlando, FL, USA www.nbaa.org

Dubai HeliShow Nov 6 - 8 Dubai, UAE www.dubaihelishow.com

Business Aviation in SE Europe Nov 15 Bucharest, Romania www. aeropodium.com

NBAA: Convention & Exhibition (BACE) Oct. 16 – 18 Orlando, FL, USA www.nbaa.org

Airshow China Nov 6 – 11 Zhuhai, China www.airshow.com.cn

Japan Int’l Aerospace Exhibition Nov 28 - 30 Tokyo, Japan www.japanaerospace.jp

Helitech International Oct 16 – 18 Amsterdam, Netherlands www.reedexpo.com

Indian Corporate Aviation Summit Nov 9 New Delhi, India www. aeropodium.com

MEBAA Conference Dec 9 Dubai, UAE www.mebaa.com

AOPA – Fly-in Oct 26 - 27 Gulf Shores, AL, USA www.aopa.org

Dubai Airshow Nov 12 – 16 Dubai, UAE www.dubaiairshow.aero

MEBAA Show Dec 10 – 12 Dubai, UAE www.dubai.aero T

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www.AVBUYER.com

Aircraft Index see Page 153

Products & Services October.qxp_Layout 1 19/09/2018 15:08 Page 1

PRODUCTS & SERVICES NARA Name Change

After much consideration and deliberation, the National Aircraft Resale Association (NARA) Directors believe that now is the time to evolve NARA into an international organization to reflect the international presence and global importance they have already achieved. Beginning October 1, 2018, NARA will be known as The International Aircraft Dealers Association (IADA).

This change will ensure the credibility for forthcoming IADA initiatives such as their international online aircraft marketplace, AircraftExchange.com and third-party accreditation of aircraft dealers in the U.S. and abroad. The newly named association is set to stage the largest static display of any exhibitor at NBAAEBACE later this month! www.naraaircraft.com

AEROCOR Acquires Cirrus Reports

A leader in owner-flown aircraft sales, AEROCOR announced that it has acquired the aircraft data analysis website Cirrus Reports. These Reports allows aircraft owners to store, process, and analyze information retrieved from the aircraft flight data recorder.

AEROCOR also announced an immediate expansion of the Cirrus Reports platform to include support for Eclipse 500 and Eclipse 550 aircraft, as well as Cirrus SF-50 and the Citation Mustang. Additional improvements are planned for the coming months. www.aerocor.com

AIC Title’s Clay Healey:

“I want the records for every aircraft in the world housed in my office.”

AIC Title is looking to revolutionise aircraft transactions by building a new system to allow customers to search aircraft records for aircraft registered anywhere in the world.

“My vision is that within the next five years the records for every aircraft in the world will be housed in my office in Oklahoma,” says Healey. “You will have access to the records on every aircraft in the world, on every registry, just as when you get a title search from the FAA.” “OK, five years may be ambitious, it could take six,” he jokes. “But I promise you we will do this before anyone else and have already invested the time and capital to make this happen AIC Title says it has already successfully introduced Blockchain technology for clients using its Closing Room services to transact aircraft. But Healey says that customers should not have to worry about how the technology works.

“Blockchain gives clients immutable, secure records and has a lot of advantages — but they don’t need to worry about the details Advertising Enquiries see Page 10

of how the technology works” says Healey. “When I start my car, I don’t care about the electronics, the engine or anything else. I just want my car to start.”

Eventually AIC Title plans to have thousands of computers creating a bespoke blockchain. “I hate not owning things, which is what happens when data is on a cloud,” says Healey.

“We want to own our own system.”

Healey, an experienced aircraft owner, bought AIC Title in 2003 with a plan to use information technology to update what he considered an “an archaic industry.

“The biggest change that we’ve had is really the ability for us to get the information, house that information, and retain the information that we have for all of our clients,” says Healey.

“AIC Title Service allows you to know that all the information, whether it be on a closing, filing a document, a title search, or an international registry search that we do for you, all of that information is stored and housed here at AIC. We’re the only company in the industry that downloads and retains all of that information.”

The data is stored in AIC’s own tornado-proof data room, backed up in another data centre in Oklahoma and stored in another location. The company is also highlighting rising cybercrime attempts involving wiring instructions for aircraft transactions and is using two-step authentication technology in its Closing Room.

“Everything we do is about getting transactions to close.

That is why we have the trademarked the term Aircraft Closing Room®,” says Healey.

Healey says that this is just the start, his goal is for AIC to be the central source for the information, services and security the industry needs.”

(Reproduced by permission of Corporate Jet Investor) www.aictitle.com

Aircare International Selected by Dassault Aviation

Dassault Aviation has appointed Aircare International to provide first aid and emergency medical services, materials and training for all new Falcon customers.

“After a comprehensive review of what was available on the market, and taking into account the needs and desires of our customers, we determined that Aircare International offered the most complete suite of first aid services available,” said Frédéric Leboeuf, Vice President, Falcon Operational Support. “We’re confident that our customers will be in good hands with the expert level of care supplied by this worldrenowned service provider.”

Falcon operators taking delivery of new aircraft will have access to a number of services under the new agreement: Aircare International supports the best business aviation flight departments in the world with crewmember emergency procedures and safety training, worldwide Telemedical and mission safety support services, and highly reliable Crew Staffing. www.aircareinternational.com

www.AVBUYER.com

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Products & Services October.qxp_Layout 1 20/09/2018 11:56 Page 2

PRODUCTS & SERVICES AMAC Aerospace Announce New Projects

interior of the 605 a sleek, contemporary look that can be repeated in any Challenger 605 cabin.

This particular aircraft had some ornate trim features and design details that dated the interior. The customer was hoping to incorporate a brushed satin silver trim to replace the older cove moulding on the drink rails www.duncanaviation.aero

LBAS Provides Enhanced Services in Russia

AMAC Aerospace has received several new maintenance projects, which will be carried out in Basel, Switzerland.

A privately owned A318 arrived in August for a C-Check inspection and will undergo a landing gear overhaul at AMAC’s headquarters.

An Airbus A330 entered the hangar doors in Basel for a CCheck inspection in conjunction with a cabin modification. At the same time, an Airbus A319 will undergo a C-Check including a cabin modification of the entertainment area in the cabin. A second Airbus A319 will arrive in Basel by the end of August for a C-Check.

Further maintenance checks are underway, such as a Bombardier Challenger 604 aircraft, which arrived in Basel for a 48 month inspection. Since the OEM Bombardier chose AMAC to be its Authorized Service Facility (ASF), the demand on maintenance activities on Bombardier aircraft increased significantly in recent month. www.amacaerospace.com

Conklin & de Decker Releases Life Cycle Cost 18.2

Conklin & de Decker, has announced Life Cycle Cost (LCC) Release 18.2 is now available with even more aircraft and the latest operating cost data. The most innovative and comprehensive aircraft budget and financial analysis tool in the industry, LCC provides aircraft owners, operators, flight department managers, and aircraft consultants with independently researched ownership and operating cost data for more than 460 jet, turboprop, helicopter and piston aircraft. www.conklindd.com

Lufthansa Bombardier Aviation Services (LBAS) Moscow facility, based at Vnukovo – 3, has been added to the Bombardier service network as a line maintenance Authorized Service Facility (ASF) and official parts provider for Russia.

The support provided includes a seamless parts supply system which will directly benefit customers by reducing downtime and increasing aircraft utilization, local stock of parts in high demand, full-scale line maintenance services to all Bombardier owners and operators within the region, performance of warranty work and AOG services. www.lbas.de

AVIAÂ Names Constant Aviation Preferred MRO Supplier

AVIAÂ, the world's first global purchasing organization for business aviation, is to widen its supplier base, with a new agreement with Constant Aviation, one of the fastest growing MROs in the U.S.

Duncan Adds Contemporary Touches

Duncan Aviation announced that its Multimedia Designer Ken Reita has designed new drink rails and updated the seat design using new seat frames for a Challenger 605 customer. These two enhancements added visual appeal and gave the entire 130

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Aircraft Index see Page 153

Burrows Aerospace October.qxp_Layout 1 17/09/2018 15:31 Page 1

2002 Bombardier Learjet 45

S P E C I F I C AT I O N

Burrows Aerospace is proud to present one of the most

AIRCRAFT

Bombardier Learjet 45

iconic business jets ever built.

SERIAL NO

45-0211

R E G I S T R AT I O N

M-MRBB

YEAR OF MANUFACTURE

2002

A I R F R A M E : T O TA L T I M E

3015 hours

LANDINGS

2417 cycles

The Lear 45 with its Part 25 Certification and Exceptional performance, delivers value to everyone who experiences this product. Renowned worldwide for their reliability and economics, few modern light jets can compete with such a pedigree. An airplane born from a Swiss fighter, was then inspired and built by of one of aviations most famous contributors, Bill Lear.

Š Burrows Aerospace 2018

ENQUIRE NOW Enquire now to arrange a personal consultation:

Green Park House

+44 7884 338 966

15 Stratton Street

sb@burrowsaerospace.com

London, W1J 8LQ

burrowsaerospace.com

Products & Services October.qxp_Layout 1 19/09/2018 15:08 Page 3

PRODUCTS & SERVICES AVIAÂ members in the U.S. will benefit from streamlined and negotiated pricing, a national network of facilities, and a commitment to unparalleled service. With maintenance facilities and AOG services spanning the country, Constant Aviation has experience and expertise on a variety of business aircraft types including Bombardier’s Global Express and Learjet, Gulfstream GIV/GIVSP, G350/G450, G5/G550, Embraer’s Legacy and Phenom family, Beechjet, Nextant and Dassault Falcon 50/900/2000 models. www.aviaa.com www.constantaviation.com

Duncan Installs Tamarack Winglets

Duncan Aviation recently completed its first two Aerospace Atlas winglet installations on Cessna CitationJet aircraft.

A CJ1 at Duncan Aviation for airframe inspections, paint and modifications as well as the Tamarack Aerospace Active

Engine Assurance Program (EAP) celebrates its third NBAA

Engine Assurance Program (EAP) is celebrating its third year at NBAA. EAP is the fast-growing, high-quality hourly engine maintenance program option for operators of TFE731-2, TFE731-3, TFE731-4, TFE731-5, JT15D-4 and JT15D-5 powered aircraft.

The Honeywell TFE731 and Pratt and Whitney JT15D power more than 3,000 business jets. While aircraft values have been declining for a decade, the cost of hourly engine maintenance programs has not. Using EAP’s oversight, the engines can be operated more economically.

“Most people think they are saving money by electing to fly without an engine program. More often than not, the perceived savings are matched dollar for dollar in lost airframe value,” said Sean Lynch, EAP program coordinator. “Maintaining engines on an engine program helps retain the value of the aircraft and ensures the equity in the engines is passed on to the next owner.” www.eap.aero

Honeywell Extends Technical Services

Winglet installation. The company also completed winglet installation on a CJ3 aircraft in for a ProLine Fusion Flight Deck Upgrade.

Tamarack Active Winglets are the only aerodynamic technology on the market today that can reduce time to climb and fuel burn, while increasing range and aircraft stability, without any structural reinforcement, yielding significant time and cost savings, the company claims. Tamarack Active Winglets are approved via EASA, FAA, ANAC and Transport Canada Supplemental Type Certificate (STC) for installation on the Cessna CJ, CJ1, CJ1+, M2, CJ2, CJ2+, CJ3 and CJ3+ business jets. www.duncanaviation.aero

Honeywell Aerospace unveiled two new groups, Honeywell Engineering Services (HES) and Honeywell Technical Services (HTS), to offer expertise to global commercial and military aerospace manufacturers and suppliers. The groups will tap into their certification and technical experience to help manufacturers and suppliers improve their product development processes and control costs.

“With more than 22,000 engineers working on all aspects of Honeywell’s products, we’re now unleashing that expertise to help our customers build a competitive advantage,” said Honeywell Aerospace aftermarket v-p Carrie Kendrick. “And with test labs conveniently located around the world, we’re expanding our expertise to give customers a fast, costeffective, and more accessible way to ensure their products meet industry standards.” www.aerospace.honeywell.com

AIR SUPPORT Launches Flight Watch

Based on both strategic development and customer feedback, AIR SUPPORT will soon add Flight Watch to its product portfolio. First release is scheduled for November 5th, 2018. Flight Watch, AIR SUPPORT’s new state-of-the-art flight tracking solution, will initially be released as a stand-alone product and subsequently be placed within the OpsControl application suite.

Together with the PPS Flight Planning System, OpsControl will ultimately make up a comprehensive platform for suitability checks, flight tracking and more. www.airsupport.dk 132

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www.AVBUYER.com

Aircraft Index see Page 153

Sky Aviation October.qxp_Layout 1 20/09/2018 10:05 Page 1

Sky Aviation Holdings LLC

Pompano Beach Airport, 751 NE 10th Street, Pompano Beach Florida, 33060, United States

Tel: +1 (954) 246 4133 Cell: +1 (954) 270 3333 www.skyaviationholdings.com

1996 Hawker Beechjet 400A Serial Number: RK-119 Registration: N150TC

• New Paint 9/2018 • A/B Inspection Just Completed • Garmin WAAS GPS Receiver • USB outlets at every seat • XM Weather • Engines on 100% Gold Lite • Great Interior 9/10 with New Plating

1997Hawker Beechcraft 800XP Serial Number: 258297 Registration: N15RK

• New Paint 7/2018 • Fresh Interior • Engines on MSP • Wi-Fi • 12/24/48/96 Inspections C/W 7/2018 • Landing Gear Inspections C/W 7/2018 Due 7/2030

1997 Hawker Beechjet 400A Serial Number: RK148 Registration: N337TC • New Paint 2018 • New Interior 2018 • FDR • Maintenance on CAMP • Cabin LED Lighting • Engines covered by ESP

1992 Hawker Beechjet 400A Serial Number: RK61 Registration: N479DR

• Fresh ABCD check • 1500 hours remaining on engines • LED cabin lighting • Great interior • Paint 8.5 out 10 • Great transportation • Can be delivered with ADSB

Dassault Falcon 900EX EASy II October.qxp 17/09/2018 16:48 Page 1

S H O W C A S E

2006 Falcon 900EX EASy ll Serial Number: Airframe: Landings:

162 4705 2097

Honeywell Primus Epic System EASy II, Honeywell MCS-7120 Satcom (Preferred sitcom for CPDLC Compliance), Tripe FMS/IRS, Honeywell TCAS-2000 (Change 7.1), Spacious open and bright 12 passenger cabin interior, Forward & aft lavatories, Engines and APU-on MSP, 3B inspections June 2018 at DAS-1LG, 2C/C Inspection and Landing Gear overhaul due 4th Quarter of 2018 Avionics & Connectivity Honeywell Primus Epic System EASy II (Baseline – Cert. I - without options) Flight Display System : Honeywell EASy (four 14-inch LCD’s, two Cursor controls & two keyborads) Flight Management System triple Honeywell EASy Global Positioning System dual Honeywell VHF Communication Systems triple Honeywell VOR/ILS/Marker Navigation System dual Honeywell DME Systems dual Honeywell DM-855 ADF Systems dual Honeywell DF-855 Mode S Transponder System dual Honeywell TCAS II System Honeywell TCAS-2000 (Change 7.1)

Color Weather Radar System Honeywell Primus 880 Communication Management Function Honeywell EASy SATCOM Aero H+/Swift Broadband Honeywell MCS-7120 HF Communication Systems dual Collins HF9000 Micro Inertial Reference System triple Honeywell Laseref V Enhanced Ground Proximity & Windshear Warning System Honeywell EASy Radio Altimeter System Honeywell RT-300 Cockpit Voice Recorder Honeywell SSCVR (120 minutes) Flight Data Recorder Honeywell SSFDR Data Acquisition & Central Maintenance Computer Honeywell EASy Additional Equipment Honeywell - 20 inch LCD monitor, DVD-C player, three AV-900 Flight Deck Audio, Selcal.

Honeywell EASy: Electronic Jeppesen Charts.

Meggitt MK2 Secondary Flight Display, ELTA ADT-406 (tri-frequency), Rosen plug-in receptacle for an 8.4 inch LCD monitor, 115 cubic ft oxygen bottle Price: Make Offer Available December 2018

www.dassaultfalcon.com

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Mark Verdesco: Director, Pre-owned Aircraft Sales USA Tel: + (1) (201) 541-4556 Tel: + (1) (201)-541-4620 E-mail: preowned@falconjet.com www.dassaultfalcon.com/preowned Aircraft Index see Page 153

Jetsense Aviation King Air 350 October.qxp_Empyrean 19/09/2018 12:16 Page 1

S H O W C A S E

New Price: $1,795,000 1997 King Air 350 Serial Number: Registration: Airframe TT: Landings:

FL-175 SE-LLU 5695.54 5262

 Maintenance Tracking  Enrolled on CAMP Engines Right engine Left engine Description: PT6A-60A PT6A-60A S/N: PCE-PK0072 PCE-PK0075 THSN: 5622.5 Hours 5570.9 Hours TCSN: 5198 4956 TSO: 1525.9 Hours 1405.1 Hours Propellers Description: HC-B4MP-3 HC-B4MP-3 S/N: FWA-4054 FWA-3778 TSO: 1974.7 Hours 1974.7 Hours Avionics EFIS 1 Collins Pro Line II EFIS 85 3 Tube VHF 2 Collins VHF-22C VHF 2 Collins VIR-32A FMS/GPS 1 UNS-1E Flight Director 1 EFIS 85 Autopilot 1 Collins APS-65 ELT 1 Artex ELT C406NA ADF 1 Collins ADF-60A DME 2 Collins DME 42 MFD 1 Universal MFD-640 Radio Altimeter 1 Collins ALT 50A HF Radio 1 King KHF 950 (Provisions) TCAS 1 Collins TCAS 4000 Version 7.1 Flight Data Recorder 1 Fairchild F1000 SSFDR

Transponders 2 Collins TDR-94D EGPWS 1 Honeywell Mark VIII (Class A) RVSM 1 Elliott STC SA2264CH Compliant Weather Radar 1 TWR-850 Color Radar General Specifications Seating 2/11 Baggage (CuFt Ext/Int) 16/54 Cabin Height (Ft) 4’10” Cabin Width (Ft) 4’6” Cabin Volume (CuFt) 416.88 Seats Full Range (SM/NM) 1,404/1,615 Balance Field Length (Ft) 3,217 Landing Distance (Ft) 3,161 Average Block Speed (Kts) 302/348 Interior Year Refurbished: March 2015 at Elliott Aviation w/ new Headliner and EMTEQ Lighting Installed Number of Passengers: Eleven (11) including Belted Lav and Dual Aft Foldup Seats Lavatory Location: Aft (Belted) Exterior Painted at Elliott Aviation March 2015 Base Paint Color(s): Matterhorn White Accent and Stripe Color(s): Flight Red and Taxiway Yellow Options Frakes Exhaust Stacks Raisbeck Nacelle Wing Lockers Basic Empty Weight: 9908 lbs EU Ops 1 Rosen Passenger Audio and Video Entertainment System—Including Moving Map and Briefing System Gill Lead Acid Battery STC

Jet Sense Aviation, LLC Contact: Brett Forrester Contact: Pat Mitchell 550 N. Rand Road, Lake Zurich, Illinois 60047 Advertising Enquiries see Page 10

www.AvBuyer.com

Please make an appointment to visit with Jet Sense Aviation at NBAA this year in Orlando. Call Brett or Pat to set up a meeting TODAY! 847-550-4660

Tel: +1 (847) 550 4660 Email: brett@jetsenseaviation.com Email: pat@jetsenseaviation.com www.jetsenseaviation.com October 2018 – AVBUYER MAGAZINE

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Jetsense Aviation King Air B200 October.qxp_Empyrean 19/09/2018 12:17 Page 1

S H O W C A S E

Price: $1,975,000 1994 King Air B200 Serial Number: Registration: Airframe TT: Landings:

BB-1500 SE-MJE 5506.7 5439

 Blackhawk -52 Upgraded Engines  Full Raisbeck Platinum Performance Package  Raisbeck Swept 4-Blade Silent Propellers  Fresh Gear Overhaul  New King Air 250-Style Interior  BLR Winglets  EU OPS 1 Certified Airframe Enrolled on CAMP Engines Left engine Right engine Description: PT6A-52 PT6A-52 S/N: PCE-RX0652 PCE-RX0653 THSN: 393.8 Hours 393.8 Hours 444 Cycles 444 Cycles TCSN: TT before OH: 3206.2 Hours 3206.2 Hours Propellers Raisbeck Swept 4-Blade Silent Left prop Right prop Description: HC-D4N-3 HC-D4N-3 S/N: FY4467 FY4457 THDSN: 198.2 HRs/Aug 2016 TT before OH: 3801.8 HRs/Aug 2022 Avionics COLLINS PROLINE II EFIS 3 Tube Collins EFIS-85B Autopilot 1 Collins APS-65H

Communication Radio 2 VHF-22C Navigation Radio 2 VIR-32 Transponders 2 Collins TDR-94D Automatic Direction Finder 1 ADF-60A Distance Measuring Equipment 2 DME-42 Radar Altimeter 1 Collins ALT-50 Weather Radar 1 Collins WXR-842 Flight Management System 1 Universal UNS-1E Emergency Locator Transmitter 1 Artex C406 ELT Cockpit Voice Recorder 1 Fairchild A100S Air Data Computers 2 Collins ADC-85 Air Data Computers P-RNAV Approved Interior Like new King Air 250 interior that includes six (6) KA 250 Executive seats and one (1) belted toilet in beige leath-er. Cabin includes Skandia Super Soundproofing, USB Outlets, and 220-volt External Power. Interior fully redone in 2017 Exterior Base Paint Color Matterhorn White Stripe Colors Light Beige, Light Burgundy and Phantom Grey General Specifications Seating 2/7 Baggage (CuFt Ext/Int) 0/54 Cabin Height (Ft) 4’10” Cabin Width (Ft) 4’6” Cabin Volume (CuFt) 362.5 Seats Full Range (NM) 951 Balance Field Length (Ft) 3,705 Landing Distance (Ft) 3,388.78 Average Block Speed (Kts) 303

Jet Sense Aviation, LLC Contact: Brett Forrester Contact: Pat Mitchell 550 N. Rand Road, Lake Zurich, Illinois 60047

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www.AVBUYER.com

Please make an appointment to visit with Jet Sense Aviation at NBAA this year in Orlando. Call Brett or Pat to set up a meeting TODAY! 847-550-4660

Tel: +1 (847) 550 4660 Email: brett@jetsenseaviation.com Email: pat@jetsenseaviation.com www.jetsenseaviation.com Aircraft Index see Page 153

Jetsense Aviation Lear 60XR October.qxp_Empyrean 19/09/2018 12:18 Page 1

S H O W C A S E

Priced at $2,995,000 USD 2007 Bombardier Learjet 60XR Serial Number: Registration: Airframe TT: Landings:

0319 N814TS 5254 3706

 CUSTOM 8-Passenger Interior Offering More Leg Room  Part 135 Operated and Maintained  Turnkey And Ready To Fly  Three (3) Rotor Brakes  TCAS II w/Change 7  ATG-5000 WiFi  ESP Gold Airframe Maintenance Tracking - CAMP Certification - FAR Part 91 / Part 135 Engines Left engine Right engine Description: Pratt&Whitney Pratt&Whitney PW305A PW305A PCE-CA0497 PCE-CA0496 S/N: THSN: 5166 Hours 5166 Hours TCSN: 3640 3640 Program: ESP GOLD ESP GOLD APU Description: Sundstrand T-20G-10C3A S/N: SP-E070459 THSN: 1439 Hours TCSN: 3093 Overhaul Date: May 2015 Avionics EFIS 4-Tube Collins Proline 21 AFD-3010 FMS 2 Collins FMS 5000

TCAS 1 TCAS-94D TCAS II w/ Change 7 ADC 2 Collins ADC-850D AHC 2 Collins AHC-85E NAV 2 Collins VIR-432 DME 2 Collins DME-442 ADF 2 Collins ADF-462 Entertainment In Flight Status Monitor 1 Airshow 410 DVD System 1 SONY Cabin Entertainment System Fwd & Aft LCD Monitors 2 Features • ATG-5000 WiFi • RVSM Capable • Precise Pulselight System • Dual Concorde Lead Acid Batteries • TIA Microwave Oven • 115 VAC Outlets Interior Number of Passengers Eight (8) Fwd Refreshment Center Aft Belted Lav Other Notable Features: 2014: Fireblocked, Ivory Leather with Aft Side Facing Belted Lav Seat with Flushing Potty, FourPlace Executive Club Chairs w/ Two Executive Foldout Tables. Forward Three Seat Divan, Forward Galley Has Been Shortened Along with the Removal of the Arm Rests to Provide 11 Extra Inches of Leg Room Exterior Base Paint Color(s) Matterhorn White (TOP) / Royal Blue (BOTTOM) Stripe Color(s) Red

Jet Sense Aviation, LLC Contact: Brett Forrester Contact: Pat Mitchell 550 N. Rand Road, Lake Zurich, Illinois 60047 Advertising Enquiries see Page 10

www.AvBuyer.com

Please make an appointment to visit with Jet Sense Aviation at NBAA this year in Orlando. Call Brett or Pat to set up a meeting TODAY! 847-550-4660

Tel: +1 (847) 550 4660 Email: brett@jetsenseaviation.com Email: pat@jetsenseaviation.com www.jetsenseaviation.com October 2018 – AVBUYER MAGAZINE

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Swisspath Aviation September.qxp_Empyrean 17/09/2018 16:49 Page 1

S H O W C A S E

Price: Make Offer 2009 Piaggio P-180 Avanti II Serial Number: Registration: Airframe TT: Landings:

1196 HB-LUS 1145 687

• EU Import compliant • No known damage history • Two Owners Since New • VIP Corporate Interior • Always Hangared • Cockpit privacy curtain • 6 Month Inspection + 200 Hrs Inspection > March 2018 • Interior Refurbishment 2015 • New Exterior paint 2015 Engines PWC PT6A-66B (850hp) 3,600 Hour TBO Engine #1 (S/N PCE-RW0124/3072196-01) / TTSN: 1,145 / CSN: 687 Engine #2 (S/N PCE-RW0123/3072196-01) / TTSN: 1,145 / CSN: 687 Avionics & Connectivity Proline 21 Rockwell-Collins RMS: RTU-4200, CDU-3000 COMs: dual Rockwell Collins VHF-4000 w/8.33 kHz spacing VHF/ADF NAV: Rockwell Collins NAV-4000 VOR/ILS/MKR/ADF receiver VHF NAV: Rockwell Collins NAV-4000 EFIS: Rockwell Collins 3-Tube Integrated System FLIGHT GUIDANCE: Dual Rockwell Collins FGC-3003 Autopilot

RADAR: Rockwell Collins RTA-852 FMS/GPS: Rockwell Collins FMC-3000 Maps Overlay TCAS-4000 Data Link 3rd VHF-4000 + CMU TDR-94D Mode S GPWS Interior & Entertainment 7 place interior + 1 Belted Lavatory seat 4 single seats in club arrangement 1 LH forward facing single seat 1 RH forward 2-place divan with drawer Aft fully enclosed flushing lavatory 110VAC power outlets in cockpit and passanger cabin Dual foldout executive table, pyramid cabinet with ice chest and miscellaneous storage Mood / dimmable lighting Exterior Overall White with grey/silver registration

Swisspath Aviation

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www.AVBUYER.com

Tel: +41 44 454 2626 Email: Sales@swisspath.aero www.swisspath.com

Aircraft Index see Page 153

Guardian Jets October.qxp_Empyrean 17/09/2018 16:35 Page 1

S H O W C A S E

Offered at: $17,995,000 2017 Bombardier Challenger 350 Serial Number: Registration: Airframe TT: Landings:

20679 N884BN 390.2 235

• One Owner Since New • No Damage History • APU and Engines on MSP Gold • Airframe on Smart Parts • ATG 5000 and Swift Broadband Internet • FANS 1/A • A056 Datalink LOA Compliant5 Engines Honeywell AS907-2-1A Left Right Total Time Since New: 390.2 390.2 Cycles Since New: 245 244 SERIAL NUMBER: P-136473 P-136472 Engines Enrolled in Honeywell MSP Gold APU Honeywell GTCP 36-150 [BD] Serial Number: P-765 TSN: 375.5 APU Enrolled in Honeywell MSP Gold Capabilities FANS 1/A. WAAS/LPV. TCAS 7.1 ADS-B. Synthetic Vision. Jeppesen Charts Avionics Rockwell Collins ProLine 21 Advance with Dual File Servers AIR DATA COMPUTER: Dual Rockwell Collins ADC-3000 ADCs AUTOPILOT: Dual Rockwell Collins FGC-3002 Flight Guidance Computers

AUTOMATIC DIRECTION FINDER: Dual Rockwell Collins NAV-4000 ADF Receivers COMMUNICATIONS: Dual Rockwell Collins VHF-4000 VHF Radios with Third VHF Radio for Datalink COCKPIT VOICE RECORDER: L3 FA2100 SSCVR Cockpit Voice Recorder Additional Features and Equipment Jeppesen Electronic Charts (subscription required) Rockwell Collins DBU-5010E Database Loading Unit 115 VAC Outlets (Two in the cockpit, one in the lavatory, three in the cabin, and one in the lavatory.)

Dual Pilot Control Wheel Lighted Chart Holders and Cockpit Writing Tables Overwater Flight Kit (Additional Oxygen and Life Raft) Maintenance & Inspections • Engines enrolled in Honeywell MSP Gold • APU enrolled in Honeywell MSP Gold • Airframe enrolled in Bombardier Smart Parts • Maintenance tracking by CAMP • Engines monitored by CAMP EHM Interior 10 passenger configuration featuring four club seats in the forward cabin, and berthable, threeseat divan along with two single seats in the aft cabin. A belted seat in the aft lavatory compartment enables a tenth passenger to be carried if required. The Lufthansa Technik nice cabin management system features passenger touchscreen controllers throughout the cabin and a galley touchscreen controller in the entryway. A forward galley with a coffee maker, microwave, and ample storage space completes the interior.

Guardian Jet 102A Broad Street, Guilford, Connecticut, 06437 USA

Advertising Enquiries see Page 10

www.AvBuyer.com

Tel: +1 203-453-0800 www.guardianjet.com

October 2018 – AVBUYER MAGAZINE

139

SIUS International October.qxp 17/09/2018 16:43 Page 1

S H O W C A S E

1979 Cessna Citation ISP Serial Number: Registration: Airframe TT: Landings:

0067 HB-VJB 7382.4 6301

- Very low time engines - Engine LH Hours 7304.9 / Cycles 6300 - Engine RH Hours 7304.9 / Cycles 6300 - Engines L/R 125/350 SMOH - 3375/3150 to MOH - Increased MTOW 12'500, ramp 12'650 - Increased fuel capacity 4550 lbs (Branson tank will give more than 1 hour additional endurance) - RVSM - Maintenance according CESCOM and EASA AMP - 2 owners only, interior and exterior in good condition, aircraft kept in hangar - Seats 2+6+1 - FD Honeywell + Sperry - Garmin GNS 430 COM1/GPS-GPSS - Dittel COM2, - 2 Collins VOR/ILS - Collins DME - 2 ADF Collins - 2 XPonder: SGarmin + C Collins Location: Denmark

Best price will be accepted Sius International

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Tel: +41 (0) 79 776 96 78 +41 (0) 52 354 60 61 Email: sschilliger@sius.com

Aircraft Index see Page 153

Mente October.qxp 17/09/2018 16:38 Page 1

S H O W C A S E

Make Offer

2005 Dassault Falcon 2000EX EASy

E-mail: info@mentegroup.com Tel: + 1 (214) 351-9595

Serial Number: Registration: Airframe TT: Landings:

Honeywell TCAS-2000 TCAS-II w/change 7 Honeywell SSCVR Honeywell Digital Flight Data Recorder AFIS with Honeywell GDC Software Load Honeywell Primus 880 Weather Radar Interior Interior (Aug 2017): Configuration: 8 Passenger, 2 double club seating areas Refurbished August 2017 to include: Cockpit. Cabin.

Lavatory and Baggage. New Plating all Hardware Cabin Entertainment: Rosen plug-in monitors. Rockwell Collins Airshow 500. 20” LCD Screen on forward left bulkhead. Dual Multi-region DVD/CD player. 115 Volt US Outlet plugs at each seat Exterior Exterior (Aug 2017): Base Snow White & Platinum and Dark Charcoal Stripes Dassault full paint completed in 2017

51 N878RR 3646 1665

• EASY II COCKPIT • CPDLC-FANS 1/A • PRATT & WHITNEY ESP GOLD • APU ON MSP • WIFI – ATG-4000 • ADS-B • PAINT, REFURBISHED INTERIOR AND AVIONICS UPGRADE 2017 APU Honeywell GTCP36-150 (F2M) Serial Number P392 APU Program MSP Gold

Engines Engines: PW308C CF-0121 CF-0161 Hours 3,348.5 3,601.3 Cycles 1,532 1,655 Engine Program P&W ESP Gold–Flex Program Avionics & Connectivity Honeywell EASy II Flight Deck Load 16.4 Honeywell EASy Primus Epic Flight Management System CPDLC - FANS 1/A via SB309R4 CPDLC - ATN B1 via SB 308R1 ADS-B Out via SB302R1. LPV via SB 301R1 EASy Jeppesen Charts. Dual FMS Dual Honeywell IRS. Dual RT-300 Radio Altimeters Triple RCZ-833 VHF Radios Dual Collins HF-9034A w/SELCAL Dual Honeywell DME-855 Dual Honeywell XS-855A Enhanced Mode S Transponders

Asking $6.25M

2007 Citation Sovereign

E-mail: info@mentegroup.com Tel: + 1 (214) 351-9595

Serial Number: Airframe TT: Landings:

Avionics Honeywell Primus EPIC System with Dual FMS Honeywell GP-400 Flight Guidance Panel EGPWS Dual AZ-200 Honeywell Air Data Modules Dual AV-850A Honeywell Control Display Panels Dual MC-850 Multifunction Control Display Units Single AA-300 Honeywell Radio Altimeter Dual VHF Communications Systems Additional Installed Equipment FMS Performance Database (TOLD) Extended Range Oxygen System DMU Pulse Light System w/TCAS Interface Tail Flood System EVAS Airshow 4000 w/Cockpit Contoller Slide out observer seat, approved for Takeoff and Landing

680-128 5,761.6 3,605

• AIRFRAME ON CESSNA PROPARTS + PRONAV • ENGINES ON POWER ADVANTAGE • APU ON AUX ADVANTAGE • UPLINK GRAPHICAL WEATHER • WAAS LPV • ELECTRONIC CHARTS • AIRCELL® ATG 4000 HIGH-SPEED INTERNET Airframe Cessna ProParts + ProNav coverage C of A 3/16/2007 Maintenance Tracking CESCOM Part 91 3/1/2012

Engines Power Advantage PW306C Left Right S/N PCE-CG0265 S/N PCE-CG0266 Hours 5,761.6 5,622,1 Cycles 3,605 3,519 APU Aux Advantage RE100 S/N P265 Total Time 2,181,1 Hours Interior 8 Passenger Double club with extended galley option Aft Lavatory w/ Externally serviceable toilet Galley equipped with Microwave, 2ea Hot liquid containers, ice storage and catering storage drawers Exterior Airframe overall Matterhorn White with Gold and Blue Accent striping

Mente Group, LLC 15301 North Dallas Parkway, Suite 1010 Addison, TX 75001

Advertising Enquiries see Page 10

www.AvBuyer.com

Tel: +1 214 351 9595 E-mail: info@mentegroup.com www.mentegroup.com

October 2018 – AVBUYER MAGAZINE

141

SMS G550 July.qxp_Heeren Cit Ultra sep 17/09/2018 16:40 Page 1

S H O W C A S E

Priced at $26.95M USD 2011 Gulfstream G550 Serial Number: Registration: Airframe TT: Landings:

5327 N881WR 2,060 623

Fresh 12/24/36/72 Month Inspections Completed January 2018 At GAC in Las Vegas * Engines on RRCC * APU on MSP * Airframe on Plane Parts * Immaculate * One Owner Since New * 18 Pax Interior Arranged In 4 Seating Groups * Enhanced Nav * Synthetic Vision * HUD/EVS * Swift Broadband HD710 Wireless LAN * No Expense Spared MX Record by Very Fastidious Owner Airframe On PlaneParts APU Honeywell RE220: 1,581 Hours | On MSP Engines Left Engine: Hours: 2060 | Total Cycles: 623 Enrolled on RRCC Right Engine Hours: 2060 | Total Cycles: 623 Enrolled on RRCC Avionics & Connectivity 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 One (1) Honeywell MT-860 Third Navigation/Communication Cabinet Two (2) Honeywell RT-300 Radio Altimeters One (1) L3 Cockpit Voice Recorder (CVR) One (1) Cockpit Voice Recorder (CVR) Control Panel One (1) L3 Flight Data Recorder (FDR) Two (2) Davtron Digital Clocks One (1) L3 EBD14000 Radio Magnetic Indicator (RMI) One (1) L3 Magnetometer One (1) L3 GH-3100 Standby Attitude/Airspeed/Altitude Indicator Interior Gulfstream Select Universal 18 Pax Interior.

Aft private cabin separated by solid bulkhead, with pocket privacy door, features a single club chair across from berthable 3 place divan Exterior Overall Matterhorn White with Medium Grey, Black, and Gold Striping

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

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Tel: +613 9863 9550 Cell: +61 417 727 727 E-mail: gsvensen@smsaircraft.com www.smsaircraft.com Aircraft Index see Page 153

Omnijet October.qxp_Empyrean 20/09/2018 10:14 Page 1

S H O W C A S E

2002 Bombardier Learjet 45 Serial Number: Registration: Airframe TT: Landings:

160 N863LB 5773 5201

• AN OUTSTANDING AIRCRAFT IN SUPERB CONDITION! • 2020 ready with ADS-B out • Two USA owners since new • Enhanced Surveillance • Honeywell MSP Gold • BR Engine upgrades • Equipped with APU • UNS-1Ew FMS • Airshow 400 / DVD • HAPP Avionics Plan • Satcom Airframe Certified FAA Part 91. mpty Wt: 13705 Engines TFE731-20BR Honeywell. MSP Gold LH: P116314C. RH: P116315C APU Honeywell RE100LJ. SN: P-225 Honeywell MSP Gold. Total Hours: 2262 Avionics & Connectivity Primus 1000 IFCS w/Dual IC-600/Primus II Comms: Dual Honeywell RCZ-833(8.33 MHz ) Nav: Dual Honeywell RNZ-851 (FM immun) DME: Dual Honeywell Primus II ADF: Honeywell Primus II AHRS: LITEF LCR-100 (SB45-34-26) CVR: Honeywell SS CVR-30 EFIS: Honeywell 4-tube 7x8-inch w/DU-870

Flt Dir: Honeywell Primus 1000 IFCS dual IC-600 Phone: AirCell FMS: Dual Universal UNS-1Ew (LPV) w/GPS GPS: Universal GPS LPV (WAAS) Hi Freq: Honeywell KHF-950 w/SELCAL Radar Alt: Honeywell RT-300 SATCOM: AirCell ST-3100 Iridium TAWS: Honeywell Mark V EGPWS w/windshear TCAS: Honeywell TCAS-2000 (7.0) Trans: Dual Honeywell RCZ-833 Mode S Radar: Honeywell Primus 880 color EGPWS: Honeywell Mark V EGPWS w/windshear Satcom: AirCell ST-3100 ADC: Dual Honeywell air data computers Honeywell EICAS RMU: Dual Honeywell RM-855 RMU ELT: Artex 406-2 Dual angle of attack indicators Enrolled on HAPP avionics program Certified for LPV/WAAS GPS approaches Mode S enhanced surveillance Equipped for ADS-B out Interior & Entertainment Floor plan 1 - Eight seats plus belted potty Beige leather seats (7/10). Mid-cabin club Chablis ultraleather headliner (9/10) Ocean (blue) carpeting (7/10). Forward RH galley High-gloss walnut cabinetry (7/10) Airshow 400 w/ fwd & aft 10.4-inch monitors Dual DVD players w/cabin audio system Exterior

By Elliot Aviation August 2013 White w/navy, silver & royal blue stripes

OMNIJET Wayne Hilmer 9415 Jet Lane, Unit #3 Easton, MD, 21601-9503, United States Advertising Enquiries see Page 10

www.AvBuyer.com

Tel: +1 (410) 820-7300 www.omnijet.com

October 2018 – AVBUYER MAGAZINE

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GainJet October.qxp 17/09/2018 16:42 Page 1

S H O W C A S E

VIP Boeing 737-400 LR With only genuine quick change Aux fuel tank system on the market today (Available for Boeings & Other types) Serial Number: Airframe TT: Landings:

25423 47,578 Hours 34,487 Cycles

• Long Range “Quick Change” Auxiliary Fuel Tanks system installed • Quick, Line-Replaceable fuel tanks (LRTs) • Certified with an FAA STC. • Allows for up to 9-hour intercontinental flight range • Flexibility to adjust configuration to suit the mission: • Add more tanks for longer range • Remove tanks for more cargo space • More info, please visit www.longrange.aero • Full cabin refurbishment in 2014 • 64 passenger VIP configuration • Maintained and utilized to the highest standards • More info, please visit www.gainjet.com/vip-boeing-b737-400-2 Engines Engine 1. CFM56-3C1. ESN: 725160 TSSV: 442 Hours CSSV: 182 Cycles

Engine 2. CFM56-3C1. ESN: 725369 TSSV: 442 Hours CSSV: 182 Cycles

APU Honeywell GTCP36-280B TSN: 21,878

Exterior Elegant and discrete livery

Cabin & Features Fully refurbished in 2014 64 passenger VIP configuration - ensuring lavish comfort for all passengers.

Seat pitch: 52 inches 3 high-quality lavatories 30 AC power outlets in the cabin Nespresso Machine

Avionics Triple VHF-Comm w/8.33 kHz spacing ACARS w/provisions: Dual Arinc758 CMU Solid State Cockpit Voice recorder System (2hrs recording) Control Surface Position Indicator Aspirated TAT probes for FMC Operation

Gainjet Aviation Group Vouliagmenis Ave. & 1 Themistokleous St. Glyfada. 16674.

Athens, Greece

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Contact: Tel: +30-210-963-6101 Email: marketing@gainjet.com www.gainjet.com Aircraft Index see Page 153

Donath Aircraft Services August.qxp_Empyrean 17/09/2018 17:01 Page 1

S H O W C A S E

Price: $1,495,000 1989 Falcon 50 Serial Number: Airframe TT: Landings:

197 9,934 6,623

• Only three U.S. owners since new.

Same corporate owner since 2004.

• ADS-B Out • WAAS/LPV Engines Honeywell TFE 731-3-1C Enrolled in MSP Gold #1 Engine #2 Engine #3 Engine Hours 9,249.6 9,586.4 9,701.2 Cycles 6,251 6,279 6,427 APU Garrett GTCP36-100(A) Enrolled in MSP Gold Hours Since New 5,487.0 Avionics Flight Displays: (2) Collins EFIS 86C FMS: (2) UNS-1Lw GPS: (2) Universal GPS w/ WAAS/LPV IRS: (2) Honeywell Laseref AHRS: Collins AHC-85 Autopilot: Collins APS-85 VHF Comm: Collins VHF 22D w/ 8.33 Spacing Satcom: Aircell Axxess Iridium HF Comm: (2) King KTR-953 w/ Selcal Transponders: (2) Collins TDR-94D DME: (2) Collins DME-42 ADF: (2) Collins ADF-60 NAV: (2) Collins VIR-32 ADC: (2) Collins ADC-82C

AFIS Radio Altimeter:Collins ALT 55B Weather Radar: Collins TWR-850 Collins TCAS II w/ Change 7.1 TCAS: EGPWS: Honeywell MK-V w/ Windshear Detection CVR: Fairchild A100A ELT: Artex C406N Additional Equipment/Options WAAS/LPV. ADS-B Out. TCAS 7.1 XM Weather Capable Aircell Axxess Iridium Satellite Phone System Three Life Rafts. Therapeutic Oxygen LED Navigation and Taxi Lights Pulse Lights. Wing Ice Detection Lights Upgraded Falcon 2000-Type Forward Drain Mast N1 Engine DEECs Paint 2005, Duncan Aviation: Matterhorn White with Red, Yellow and Blue stripes Interior 2002 (Soft Goods), Dassault Falcon Service.

Carpet replaced 2008, West Star Aviation Configuration Nine passenger seating with side facing 3rd crew member seat. Forward: Four-place club arrangement with pull-out table for each seating group.

Aft: Two-place club seating on left side, opposite a 3-place divan Entertainment Cabin Flight Display System with Moving Maps CD/DVD. XM Radio Forward 15.1” and Aft 17” LCD Displays

Donath Aircraft Services Contact: Jim Donath

Advertising Enquiries see Page 10

www.AvBuyer.com

Tel: +1 (773) 935.9871 Email: jimdonath@donathaircraft.com www.donathaircraft.com

October 2018 – AVBUYER MAGAZINE

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Avitrade Belgium Bombardier September.qxp 17/09/2018 17:28 Page 1

S H O W C A S E

2010 Bombardier – Q Series Q400 Serial Number:

4315

• For Sale by the original Buyer (Avitrade) • ‘’the lowest time since new’’ • 2010 Q400 NEXTGEN for sale • Q400 used as Corporate Shuttle for the Oil Industry • Only 3,000 BH • Engines fresh of HSI • 68 seat configuration (34" & 33" inch seat pitch) • Toilets forward and aft • Higher seating capacity kit available from Bombardier as SB • Fully loaded: Luxury Spectrum seats, Dual FMS, EHGW, HF radio, AFM Supplement for unpaved runway operation, Icarus Sky Connect, etc.

• Price Reduced $11.950,000 • Available within 30 days • Please contact Emmanuel Paillier (emmanuel.paillier@gmail.com or +1 514 692 8360) or Albert Frederic Bloem (a.bloem@avitradebelgium.com) • FRESH FROM C CHECK!!

Avitrade Belgium 7, rue de Pallandt B-1341 Ceroux Mousty Belgium

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Tel: +32 10 617 153 Fax: +32 10 617 957 Cell: +32 475 621 539 Email: info@avitradebelgium.com www.avitrade.eu Aircraft Index see Page 153

Leading Edge October.qxp_Empyrean 19/09/2018 12:14 Page 1

S H O W C A S E

1997 Hawker 800XP Serial Number: Registration: Airframe TT: Landings:

258324 N303BC 7,964 5,368

• Engines on MSP Gold • Avionics on CASP • Currently Operating Part 135 • ATG 5000 Wi-Fi • G1-G12 (48 mo.) c/w 7/2017 • 800 Hr. c/w Sept. 2018 • Only 2 Owners Since New Engines Hnywl TFE731-5BR-1H On MSP Gold L: S/N P107185 7,825Hrs 5,186 Cyc. R: S/N P107187 7,856Hrs 5,236 Cyc. Right Engine undergoing MPI/CZI Aug./Sept.

2018 APU Hnywl GTCP 36-150 (W) 5,117Hrs On MSP Avionics On Collins CASP Program Collins EFIS-86E 5-Tube EFIS Avionics Dual Collins ADS-86 Collins APS-85 Autopilot Dual Collins ADF-42 Dual Collins VHF-422B Comm. Radio L3 A100A CVR Dual Collins DME-442 Collins EFIS-86E with 5 tube Artex C-406 ELT

Honeywell Mark VII - EGPWS Aircell ST-3100 Satellite Phone Dual Universal UNS-1D Universal GPS-1200 Dual Bendix King KHF-950 w/ SELCAL Dual Collins VIR-432 Navigation Receiver Single Collins ALT-55B Collins TCAS 94 Dual Collins TDR-94D Xponder Mode S Collins TWR-850 Weather Radar Additional Features Currently Operating FAR Part 135 ATG-5000 Wi-Fi Airshow 400 Dual 14” LCD Bulkhead Monitors Aircell ST-3100 Satellite Phone Interior 8 pax. All seats fireblocked & upholstered in Juvenile Ostrich Leather. Forward is a 4-place club and aft is a 3-place divan opposite a single seat. Forward galley w/ microwave and ice drawer. Aft lavatory. . Cabinetry & woodwork are hi-gloss Walnut Burl Veneer. Headliner refurbished 2013 and lower sidewalls recovered in Pebble Ultraleather in 2016 Exterior Overall Matterhorn White w/ Desert Tan and Kupfer Brown Stripes painted July 2009, wings repainted in July 2017 Price of $1,195,000

Leading Edge Aviation Solutions 35 Waterview Blvd. Ste. 220, Parsippany, NJ 07054, USA

Advertising Enquiries see Page 10

www.AvBuyer.com

Tel: +1 201-891-0881 aircraftsales@leas.com

October 2018 – AVBUYER MAGAZINE

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M A R K E T P L A C E

Cessna Citation CJ4

Capital Jet Group, Inc Price:

$5,995,000 USD

Year:

2011

S/N:

525C-0060

Reg:

N357BV

TTAF:

1806

Tel: +1 (703) 917 9000 E-mail: sales@capitaljetgroup.com

1806 TT, TAP ELITE, one US owner since new, 2nd FMS with WAAS, ADS-B Out, 8 pax cabin with 2 place divan plus belted lav, no damage. Great maintenance status, available immediately

Location: USA

Gulfstream V

Tel: +1 (703) 822 3993 Email: noah@jetevolutions.com

Jet Evolutions Price:

Please Call

Year:

2002

S/N:

638

Reg:

N888HE

TTAF:

7283

• • • • • •

12/24/48/96/192 Month Inspections Just Completed New Paint & Soft Goods Forward Galley, 14 Pax ADS-B Out, FANS-1/A, CPDLC Domestic & International Wifi HUD & EVS

Location: USA

Cessna Citation M2

Henrique Siqueira Price:

Make Offer

Year:

2016

S/N:

525-0912

Reg:

N7132C

TTAF:

10

Location: USA

Embraer Legacy 450

Devan Clark

Tel: +1 (954) 772 2737 E-mail: henrique@brvanav.com Can be sold with or without Spectrum Aeromed mod. Engines : WILLIMAS FJ144-1AP-21FADEC. Avionics/Radios: GARMIN G3000. GARMIN FMS WITH DUAL WAAS-ENABLED GPS RECEIVERS FOR NAVIGATION. WEATHER AVOIDANCE RADAR. TERRAIN AVOIDANCE WARNING SYSTEM (TAWS-B). GARMIN TRAFFIC COLLISION AND AVOIDANCE SYSTEM (TCAS I).

Additional Equipments: SAME OWNER SINCE NEW. SYNTHETIC VISION TECHNOLOGY. USA KEPT SINCE NEW VHF DATALINK RADIO. INTERCOM. AIRSTAIR CABIN ENTRY STEP. XM GRAPHICAL WEATHER. CREW SEAT SHEEPSKIN COVERS

Tel: +1 (571) 437 1663 E-mail: devan.clark11@gmail.com

Price:

Please Call

Year:

2017

• LOW Hours (220 AFTT)

S/N:

55010029

• Engine/Airframe/Paint under warranty

Reg:

N757DP

• Available Immediately

TTAF:

220

Location: USA

Cessna Citation X

Dragon Leasing Corp Price:

Make Offer

Year:

2000

S/N:

122

Reg:

N577JC

TTAF:

6726

Location: USA

148

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Tel: +1 (630) 577-40704 E-mail: kdanielson@calamos.com NEXT GEN READY, ADS-B upgrade completed by Cessna.

ADS-B out WAS/LPV. FAR 135 Current, CESCOM Maintenance Tracking, Engines Rolls Royce Corporate Care, APU Cessna Aux Advantage, Extended Range Dual Oxygen System, Honeywell USB Data Loader, Lead Acid Batteries, 8-Passenger, Double club config. Fwd r/h galley, Espresso Machine and Coffee, Microwave. Cabin entertainment includes Airshow 400 w/Three 8” individual monitors, cockpit controller, and cabin audio, ATG 4000 WIFI. Primus 2000, TCAS 7 w/change 2, 8.33 Spacing, RVSM, Current all Maintenance, New Paint June 2016.

Aircraft Index see Page 153

P148-150.qxp 20/09/2018 11:59 Page 2

PRIV'AIR

Cessna Citation Mustang Price:

$1,790,000

Year:

2010

S/N:

510-0282

Reg:

N876AMY

TTAF:

1535

M A R K E Tel: +33 (0) 680 133 326 T Email: Christian@privair.fr P L Aircraft is fully covered under ProAdvantage +, ProParts, A ProTech, and ProCamo C Professionally flown and operated for private use E Always hangared Synthetic Vision enabled ADF, DME, TAS equiped Iridium Sat Phone Antenna and port EU VATs paid

Location: France

Cessna Grand Caravan EX

Simon Kreusel Price:

Make Offer

Year:

2018

S/N:

TBA

Reg:

TBA

TTAF:

Deliver time only

Location: Germany

Airbus/Eurocopter AS 350B-2

Bernard Ferreira Price:

Make Offer

Year:

1993

S/N:

2708

Reg:

ZS-RVO

TTAF:

10239,64

Location: South Africa

Bell 212

Jayrow Helicopters Price:

Please Call

Year:

1978

S/N:

30900

Reg:

VH-JJY

TTAF:

11,437

Location: Australia

Airbus/Eurocopter AS 365N-2

Starspeed Limited Price:

$900,000

Year:

1991

S/N:

6393

Reg:

G-LCPL

TTAF:

4,600

Tel: +49 (0)176 620 120 77 E-mail: simon@privatejet24.com Garmin G1000 System includes: GDU 1040A Pilot & Co-Pilot Primary Flight Display (PFD). GDU 1040A Multi Function Display (MFD). GDC 74A Dual Air Data Computer (ADC). GEA 71 Engine/Airframe Unit.

Electrical Load Analysis N/C. Cargo Pod w/ Exhaust Deflector. Oxygen System. Garmin GTS 825 Traffic Advisory System. KR-87 ADF Displayed on PFD w/ Stand Alone Control. TKS Ice Protection. Air Conditioning, Cabin System. Cargo Pod. C352TS Fire Extinguisher.

CAMP Maintenance Tracking. Brand new aircraft. Fully warranties.

World wide delivery on request. 2 pilot + 1 mechanic type ratings included AOC coverage (EASA CAT SET-IMC) available on request

Tel: +27 84 322 1216 E-mail: 18227511@sun.ac.za Sagem Efis Trim Stabilisation Unit Fresh 12 year (2018) & 2018 Rebuild Autopilot Aircon Brand New Interior (2018), Current Interior Picture of Pilot and Co-Pilot Seat Are Before New Finishings Were Done.

Very Well Looked After Helicopter (Status Report Available)

Tel: +61 407 671 672 Email: grahame.casey@jayrow.com.au Excellent condition, utility and firefighting configuration.

3000 hourly/5 year inspection completed in August 2017.

Extensive spares, role equipment, GSE and tooling package available separately. Airframe: BLR Fast Fin and Strakes, Dart Extended Height Skid Gear 39”, 1 x 90 gallon auxiliary fuel tank, 1 x 20 gallon auxiliary fuel tank. Avionics/Radios: Garmin GNS 530W GPS, KTR 908 VHF COM, Technisonic TFM-138 VHF COM. Additional Equipment: Simplex 304 Fire Attack Tank with offload pump, Kawak hydraulic system and snorkel, FAST 350 Gallon bucket system, spine board stretcher, rappelling system, offload cargo arm with hook

Tel: +44 (0) 1276 859 100 E-mail: gary.butcher@starspeed.co.uk Reliable and Professionally operated by Starspeed Ltd since 2005, G-LCPL is in great condition externally and within the 6 place cabin. Double sliding doors are installed and two aft facing Captains' chairs are interchanegable with the supplied bench seat. No expense has been spared maintaining this excellent N2 Dauphin. All maintenance and SB's up to date, floats are installed and this helicopter found fame in the closing sequence of James Bond 'Spectre'!

Location: United Kingdom

Advertising Enquiries see Page 10

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October 2018 – AVBUYER MAGAZINE

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M A R K E T P L A C E

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

Leonard Hudson Drilling

Beechcraft King Air C90

Price:

$425,000

Year:

1973

Low engine times, NDH. Attractive paint and interior, all 5 year items current, Garmin 500W, possible trades considered

S/N: Reg:

N35TV

TTAF:

11,105

Location: USA

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

Leonard Hudson Drilling

Bell 206 L 4

Price:

$1.775M

Year:

2002

S/N:

52265

Reg:

N339MC

TTAF:

1,700

Pictures do not do justice to the helicopter, and the colors are very vibrant, it is ready for immediate work. It has had both a Bell/Edwards completion and maintenance with immaculate records, of course no damage of incidents. 2 corporate owners

Location: USA & Canada

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

Alberth Air Parts

+1 832 934 0055

Par Avion Ltd

Spare Parts

FALCONS • HAWKERS • LEARS

•BUY •SELL •TRADE

www.paravionltd.com

CESSNA LEARJET HAWKER WESTWIND FALCON GULFSTREAM

www.alberthaviation.com

SALES • ACQUISITIONS • CONSULTING

Fax: +1 832 934 0011 150

AVBUYER MAGAZINE – October 2018

www.AVBUYER.com

Aircraft Index see Page 153

P151.qxp_Empyrean 20/09/2018 12:01 Page 1

LEKTRO

Since 1945

The Ultimate Aircraft Tug

Models ranging

15,000 to 280,000 lbs.

Electric Towbarless Certified Easy to Use Universal Rugged Simple to Maintain www.

LEKTRO .com

1-800-535-8767 1-503-861-2288 sales@lektro.com

STATE TRADING CORPORATION OF INDIA LTD.

(A Government of India Enterprise) Chennai Branch : STC Trade Centre, A-29, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai, Tamil Nadu –600032, India

TENDER NUMBER: STC/CHN/GOTN-BELL/SURVEYOR/2018-19 DT 20.09.2018 - TENDER NOTICE The State Trading Corporation of India Ltd, Chennai, invites sealed bids from prospective Appraisers, certified / approved by International Society of Transport Aircraft Trading (ISTAT) / National Aircraft Appraiser Association (NAAA) / American Society of Appraisers (ASA) / Institute of Valuers-New Delhi (Category Aeronautical Engg. Including various types of aeroplanes) for assessing the value of Bell 412 EP Helicopter 2006 model for disposal.

The tender document can be downloaded from the websites: www.stclimited.co.in and www.eprocure.gov.in All sealed bids in the prescribed format should be sent duly superscribing “Tender Number, Work Description, Name & address of Appraiser and the date of Tender Opening” addressed to The Branch Manager, STC of India Ltd, STC Trade Centre, A-29, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai600032 so as to reach STC of India Ltd., Chennai on or before 15:00 HRS IST on 31-10-2018. Tender received after the due date and time will be rejected summarily. Tenders will be opened in STC Chennai Office at 15:30 HRS IST on 31-10-2018.

Advertising Enquiries see Page 10

Mobile No: +91-7502799888 Phone : +91-44-22500342 Fax No: +91-44-22501788 Fax No: +91-44-22505891 Email : domexim.chn@stclimited.co.in Email : chennai@stclimited.co.in Websites : www.stclimited.co.in and www.eprocure.gov.in

www.AvBuyer.com

October 2018 – AVBUYER MAGAZINE

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12:42 Page 1

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Advertiser’s Index 21st Century Jet Corporation .........................154 Aero-Dienst............................................................81 Aircraft BlueBook...............................................117 Aircraft Finance Corporation................................9 AMAC Aerospace ................................................23 AMSTAT ...............................................................121 Aradian Aviation..................................................107 Asian Sky Group ..................................................11 AVI-Aviation .........................................................152 Avjet Global ..................................................38 - 39 Avitrade Belgium................................................146 Avpro ..............................................................12 - 15 Bank OZK..............................................................65 BendixKing .............................................................97 Burrows Aerospace ..........................................131 Boutsen Aviation ..................................................99 Central Business Jets .......................................155 Comlux Transactions.........................................127 Conklin & de Decker .........................................111 Corporate Concepts..............................102 - 103 Dassault Falcon Jet ...............................2 - 3, 134 Donath Aircraft Services ..................................145

Duncan Aviation ...........................................32 - 33 Eagle Aviation........................................................27 Elliott Jets ..............................................................75 Engine Assurance Program ...............................59 Freestream Aircraft ..............................................71 GainJet Aviation .................................................144 General Aviation Services ..................................93 Global Jet Capital.................................................67 Global Jet Monaco .......................................... 5 - 8 Group ADP............................................................25 Gulfstream .............................................................43 Guardian Jet........................................................139 Hatt & Associates.................................................57 JetBrokers .....................................................40 - 41 Jetcraft Corporation ...........................46 - 47, 156 Jeteffect ..................................................48 - 49, 63 JETNET ................................................................125 Jet Sense Aviation ..................................135 - 137 JSSI (Jet Support Services)...............................53 Leading Edge......................................................147 Lektro....................................................................151 LBAS.....................................................................117

MEBAA ................................................................122 Mente Group ......................................................141 Mesotis Jets ...........................................................37 NBAA BACE18 ....................................................74 OGARAJETS................................................20 - 21 OMNIJET.............................................................143 Par Avion .......................................................54 - 55 PNC Aviation Finance .........................................69 Rolls-Royce ........................................................115 Satcom Direct ..............................................94 - 95 SIUS International .............................................140 Sky Aviation Holdings.......................................133 SMS Aircraft .......................................................142 Southern Cross Aviation.....................................87 Sparfell & Partners ......................................30 - 31 State Trading Corp of India .............................151 Swisspath Aviation ............................................138 The Jet Business..........................................18 - 19 Viasat.......................................................................89 VREF ....................................................................151 Wright Brothers Aircraft Title ..........................123

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AvBuyer (USPS 014-911), October 2018, Vol 22 Issue No 10 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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www.AVBUYER.com

Aircraft Index see Page 153

P153.qxp 20/09/2018 15:01 Page 1

Aircraft For Sale • AIRCRAFT • HELICOPTERS

AIRCRAFT

PAGE

AIRBUS A318 Elite . . . . . 5, A318 Elite+ . . . . 5, A319 . . . . . . . . . . 6, A319 VIP . . . . . . 5, A319 CJ . . . . . . . 30, 99, ACJ380-800 . . . . 30,

BAE AVRO RJ70. . . . . 40,

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 19, 39, 71, 99, 127, BBJ2 . . . . . . . . . 11, 737-400 LR. . . . . 144, 747-8 . . . . . . . . . . 30, 757 . . . . . . . . . . . 39, 767-200ER . . . . . 39, 787-9. . . . . . . . . . 156,

BOMBARDIER Q400 . . . . . . . . . . 146, Global 5000 . . . . 46, 47, 99, 156, Global 6000 . . . . 30, 39, 46, 47, 156, Global 7000 . . . . 47, 156, Global 7500 . . . . 5, Global Express . 5, 47, 156, Global Express XRS. . 8, 12, 18, 99,

Challenger 300 . . . . . . . . . . . 13, 20, 350 . . . . . . . . . . . 12, 139, 600 . . . . . . . . . . . 40, 601-3A ER . . . . . 46 604 . . . . . . . . . . . 32, 47, 99, 156, 605 . . . . . . . . . . . 18, 47, 156, 650 . . . . . . . . . . . 46

Learjet 31A . . . . . . . . . . . 27, 32, 40, 41, 47, 35A . . . . . . . . . . . 40, 40XR . . . . . . . . . . 48, 45 . . . . . . . . . . . . 14, 47, 87, 131, 143, 45XR . . . . . . . . . . 48, 75, 87, 55 . . . . . . . . . . . . 14, 60 . . . . . . . . . . . . 37, 60XR . . . . . . . . . . 87, 137, 75. . . . . . . . . . . . . 47, 156,

CESSNA Citation ISP . . . . . . . . . . . 140, II . . . . . . . . . . . . . 41,

AIRCRAFT

PAGE

AIRCRAFT

III . . . . . . . . . . . . . 41, V. . . . . . . . . . . . . . 40, VI . . . . . . . . . . . . . 41, X . . . . . . . . . . . . . 49, 87, 148, XLS . . . . . . . . . . . 20, 49, CJ . . . . . . . . . . . . . . 27, CJ1. . . . . . . . . . . . . 27, 41, CJ2. . . . . . . . . . . . . 31, CJ3. . . . . . . . . . . . 13, 20, CJ3+ . . . . . . . . . . 49, CJ4. . . . . . . . . . . . 75, 148, Bravo . . . . . . . . . 47, 155, Excel . . . . . . . . . . 13, 27, Encore . . . . . . . . . 32, Grand CaravanEX 149, Mustang. . . . . . . . 99, 149, M2 . . . . . . . . . . . . . 148, P210 . . . . . . . . . . 40, SII . . . . . . . . . . . . . 37, Sovereign. . . . . . 141, Sovereign+ . . . . 47, 49, 156, T182R . . . . . . . . . . 27, T182T . . . . . . . . . . 27, 182S . . . . . . . . . . 27, 650 . . . . . . . . . . . 32,

PAGE

AIRCRAFT

PAGE

DORNIER

HONDA

328-310 . . . . . . . 32, 328 JET. . . . . . . . 27,

JET . . . . . . . . . . . 107,

IAI EMBRAER Legacy 450 . . . . 148, Legacy 500 . . . . 32, 47, Legacy 600 . . . . 31, Legacy 650 . . . . 31, 40, 99, Lineage 1000 . . 5, 19, 31, Lineage 1000E . 155, Phenom 300 . . . 20, 75,

GULFSTREAM IV . . . . . . . . . . . . . 47, 156, IVSP . . . . . . . . . . 12, 87, 99, 107, V. . . . . . . . . . . . . . 12, 18, 38, 71, 103, . . . . . . . . . . . . . . . 107, 148, 155, 100 . . . . . . . . . . . 155, 150 . . . . . . . . . . . 40, 48, 107, 200 . . . . . . . . . . . 12, 48, 102, 300 . . . . . . . . . . . 32, 450 . . . . . . . . . . . 1, 12, 47, 107, 156, 550 . . . . . . . . . . . 5, 11, 12, 19, 30, 47, . . . . . . . . . . . . . . . 71, 107, 142, 156, 650 . . . . . . . . . . . 11, 650ER. . . . . . . . . 19, 30, 156,

CIRRUS SR22T. . . . . . . . . 27,

Astra . . . . . . . . . . 40, Westwind II . . . . 40,

NEXTANT 400XP . . . . . . . . . 57,

PIAGGIO Avanti II . . . . . . . 49, P180 Avanti . . . 99, P180 Avanti II . . 138,

PILATUS PC12/47E. . . . . . 47, PC12/NG . . . . . . 49,

PIPER Cheyenne IIIA . . 40,

HELICOPTERS

DAHER SOCATA

HAWKER BEECHCRAFT

AIRBUS/ EUROCOPTER

TBM700A . . . . . . .99,

King Air

AS350B-2 AS365N-1 AS365N-2 EC 135 T2

DASSAULT FALCON 7X . . . . . . . . . . . . 5, 7, 11, 47, 87, 99, . . . . . . . . . . . . . . . 154, 156, 8X . . . . . . . . . . . . 3, 13, 155, 20C-5AR. . . . . . . 40, 20F . . . . . . . . . . . 41, 50 . . . . . . . . . . . . 41, 54, 93, 99, 145, . . . . . . . . . . . . . . . 154, 50EX . . . . . . . . . . 31, 32, 39, 48, 154, 900 . . . . . . . . . . . 154, 900B . . . . . . . . . . 154, 900C . . . . . . . . . . 154, 155, 900DX. . . . . . . . . 2, 900EX . . . . . . . . . 154, 900EX EASy . . . 2, 13, 154, 155, 900EX EASyII . . 134, 900LX . . . . . . . . . 154, 2000 . . . . . . . . . . 5, 13, 32, 47, 93, 99, 2000EX. . . . . . . . 3, 18, 2000EX EASy . . 54, 141, 2000LX . . . . . . . . 48,

200 . . . . . . . . . . . 40, 350 . . . . . . . . . . . 40, 57, 107, 135, B90 . . . . . . . . . . . 93, B200 . . . . . . . . . . 31, 107, 136, C90 . . . . . . . . . . . 150, C90GTi . . . . . . . . 107, E90 . . . . . . . . . . . 99,

. . . . . 149, . . . . . 14, . . . . . 149, . . . . . 14,

AGUSTAWESTLAND

Beechcraft

AW109SP. . . . . . 14, AW109E Power . 14, AW109S Grand . 31, A119 Koala . . . . 46, 107,

Premier I . . . . . . 47, 156, Premier IA . . . . . 75,

BELL

Hawker 400A . . . . . . . . . . 133, 400XP . . . . . . . . . 75, 400XPR . . . . . . . 13, 800A . . . . . . . . . . 93, 800XP . . . . . . . . . 32, 40, 57, 93, 107, . . . . . . . . . . . . . . . 133, 147, 850XP. . . . . . . . . 32, 47, 900XP . . . . . . . . . 107, 4000 . . . . . . . . . . 57,

206 L4. . . . . . . . . 150, 212 . . . . . . . . . . . 149, 150, 407 . . . . . . . . . . . 107, 412 EP . . . . . . . . 107, 412 EMS . . . . . . 150, 430 ............39,

SIKORSKY S-76B . . . . . . . . . 54, S-76C+ . . . . . . . . 11, 14, 47, S-92A . . . . . . . . . 14,

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21st Century May.qxp 27/04/2017 08:45 Page 1

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