AvBuyer Magazine April 2020

FC 2020 April - 2.qxp_FC December 06 16/03/2020 15:37 Page 1

Volume 24 Issue 4 2020

™

ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION

THIS MONTH Turboprop Comparison: Piper M600 vs Daher TBM 910 What Does it Cost to Operate a Light Jet What’s the Real Cost of Financing Your Aircraft? www.AVBUYER.com

San Marino Securing Lender’s Interest

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Sponsored Column

Raising the bar for engine in-service support One of the key variables to consider when purchasing a business jet is whether to enrol the aircraft on an engine maintenance program.

Ultimately, this important decision can significantly impact the overall cost of ownership. To maximize a business jet’s availability, residual value and sales liquidity, an aircraft needs a robust yet simple engine service offering something Rolls-Royce has perfected with over 60 years of business aviation experience.

Introduced at NBAA 2018 and officially launched at the beginning of last year, CorporateCare® Enhanced is the new standard of Rolls-Royce’s marketleading and industry recognized CorporateCare program. The improved service package enhances the comprehensive fixed-cost maintenance program for business jet customers by covering a wide range of additional service items, including unlimited troubleshooting and mobile repair team

reduced aircraft downtime, no matter where you are in the world.

travel costs. For the BR710, BR725 and new Pearl® 15 engine, it also covers maintenance for the whole power-plant, including nacelle, engine build-up and thrust reverser unit. Coverage is comprehensive, including corrosion and access to a large spare parts loaner pool to support operators during potentially lengthier repair tasks.

Combined with Rolls-Royce’s extensive global support network of 77 Authorised Service Centers, CorporateCare Enhanced provides 24/7 service from its Aircraft Availability Center in Germany, ensuring faster response times and

With over 350 customers already enrolled in CorporateCare Enhanced, the maintenance program is proving successful. “The program was developed with the mindset of, if we provide it, we cover it” said Alan Mangels, Rolls-Royce VP Sales & Marketing—Business Aviation. “Our customers love that. By listening to them, we continuously strive to improve our service solutions, which ultimately raises the bar for the entire industry.”

As the market-leading engine supplier in Business Aviation, Rolls-Royce powers over 3,000 business aircraft in-service.

More than 2,000 aircraft are covered by CorporateCare around the world, and over 70 per cent of new delivery aircraft powered by Rolls-Royce engines are enrolled. In the air or on the ground, Rolls-Royce is getting you the very best for your time machine.

Learn more about Rolls-Royce business aviation and CorporateCare Enhanced at

www.rolls-royce.com

4 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

www.AVBUYER.com

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GLOBAL JET PORTFOLIO

DASSAULT FALCON 900DX EASY 2008 / SN 619

EMBRAER PHENOM 300 2011 / SN 50500062

NEW LISTING / USD $12.90M

ASKING PRICE / USD $5.49M

DASSAULT FALCON 7X 2009 / SN 061

CESSNA CITATION XLS 2007 / SN 5753

NEW LISTING / USD $19.00M

ASKING PRICE / USD $3.25M

DASSAULT FALCON 7X 2011 / SN 118

BOMBARDIER CHALLENGER 850 2017

PRICE REDUCED / USD $22.90M

PRICE REDUCED / USD $16.90M

DASSAULT FALCON 7X 2014 / SN 251

GULFSTREAM 450 2014 / SN 4300

PRICE REDUCED / USD $28.40M

VERY LOW HOURS / MAKE OFFER

AIRBUS A318 ELITE 2007 / SN 3100

BOMBARDIER GLOBAL 7500 POSITION AVAILABLE Q4 2021

ASKING PRICE / USD $20.90M

PRICE REDUCED / USD $69.50M

AIRBUS A319 VIP 2008 / SN 3542

BOEING BBJ 2 2018 / SN 42510

PRICE REDUCED / USD $42.00M

PRICE REDUCED / USD $75.00M

GLOBALJETMONACO.COM

3D & TECHNICAL DETAILS AVAILABLE HERE

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AIRCRAFT SALES & ACQUISITIONS

GULFSTREAM 650ER 2014 / SN 6100

AIRFRAME HOURS / 1143 AIRFRAME CYCLES / 333 CAPACITY / 14 PAX

Low hours / Best buy on the market

PRICE REDUCED/ USD $45.00M GLOBALJETMONACO.COM

TECHNICAL DETAILS AVAILABLE HERE

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AIRCRAFT SALES & ACQUISITIONS

BOMBARDIER CHALLENGER 300 2012 / SN 20382

AIRFRAME HOURS / 1300 AIRFRAME CYCLES / 498 CAPACITY / 9 PAX

12-month Inspection recently completed by Bombardier

PRICE REDUCED / MAKE OFFER GLOBALJETMONACO.COM

TECHNICAL DETAILS AVAILABLE HERE

AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04

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AIRCRAFT SALES & ACQUISITIONS

BOMBARDIER GLOBAL 6000 2015/ SN 9701

AIRFRAME HOURS / 1063 AIRFRAME CYCLES / 475 CAPACITY / 13 PAX

Best buy on the market

NEW LISTING / PRICED TO SELL GLOBALJETMONACO.COM

3D & TECHNICAL DETAILS AVAILABLE HERE

AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04

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AIRCRAFT SALES & ACQUISITIONS

BOMBARDIER GLOBAL 6000 2014/ SN 9559

AIRFRAME HOURS / 1635 AIRFRAME CYCLES / TBC CAPACITY / 15 PAX

Excellent aircraft originally sold by Global Jet to a highly discerning Owner

PRICED TO SELL /USD $27.00M GLOBALJETMONACO.COM

TECHNICAL DETAILS AVAILABLE HERE

AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04

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AIRCRAFT SALES & ACQUISITIONS

BOMBARDIER GLOBAL EXPRESS XRS 2008/ SN 9252

AIRFRAME HOURS / 3237 AIRFRAME CYCLES / 1178 CAPACITY / 13 PAX

Discerning owner & EASA compliant

NEW LISTING / USD $15.20M GLOBALJETMONACO.COM

TECHNICAL DETAILS AVAILABLE HERE

AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04

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AIRCRAFT SALES & ACQUISITIONS

BOMBARDIER GLOBAL EXPRESS XRS 2010/ SN 9420

AIRFRAME HOURS / 3025 AIRFRAME CYCLES / 1445 CAPACITY / 15 PAX

Excellent Opportunity to Acquire a well-equipped XRS

NEW LISTING / USD $19.50M GLOBALJETMONACO.COM

TECHNICAL DETAILS AVAILABLE HERE

AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04

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Contents Layout FEB20.qxp 18/03/2020 16:03 Page 1

Vol.24 Issue 4

Contents

2020

22 50 54

Market Indicators

Trends and observations from the leading analysts…

Market Insights

What are the Signs for Used Aircraft Sales in 2020?

Ownership

What Does it Cost to Operate a Light Jet?

58

Choosing an Aircraft Registry: What are the Considerations?

66

Expensive Aircraft Title Mistakes to Avoid

74 84 88 92

Turboprops Comparision

Piper M600 vs Daher TBM 910

Aircraft Price Guide Turboprop Values

Aircraft Specifications

Turboprop Performance & Specifications Guide

EDITORIAL Commissioning Editor Matthew Harris +44 (0)20 8939 7722 editorial@avbuyer.com Editorial Contributor (USA Office) Dave Higdon dave@avbuyer.com Consulting Editor Sean O’Farrell +44 (0)20 8255 4000 sean@avbuyer.com ADVERTISING Steve Champness - Publisher Americas 770 769 6872 Steve@avbuyer.com Lee McLoughlin - Account Director US Aircraft & Services Sales Freephone from USA: +1- 855 425 7638 lee@avbuyer.com Matt Chappell - Account Manager US & Canada Aircraft & Services Sales Freephone from USA: +1- 855 425 7638 MattC@avbuyer.com

Avionics

Lise Margin - Account Manager US Aircraft Sales +1- 703 818 1024 lise@avbuyer.com

Finance

Maria Brabec - Account Manager EMEA & APAC Aircraft & Services Sales +420 604 224 828 maria@avbuyer.com

What’s the Latest on DataLink in Business Aviation?

102

What’s the Real Cost of Business Aircraft Finance?

106

Ownership vs Lease: What are the Pros and Cons?

110

Buying a Jet? Defining Cash, Finance and Lease

114

What are the Top Myths & Facts About Aircraft Operating Leases

Community News

118

OEM News, Industry Appointments & Upcoming Events

122

Products & Services

126

Showcases

131

Marketplace

137

Advertisers Index

138

Aircraft for Sale Index

Next Month •

You’ve Bought a Jet. Now What?

•

What are the Popular BizJet Models in Europe?

•

Three Tips on Aircraft Maintenance History

12 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

UK Head Office +44 (0)208 549 9508 STUDIO/PRODUCTION Helen Cavalli / Mark Williams +44 (0)20 8939 7726 helen@avbuyer.com mark@avbuyer.com CIRCULATION Sue Brennan +44 (0)20 8255 4000 Freephone from USA: +1- 855 425 7638 sue@avbuyer.com AVBUYER.COM Jayne Jackson jayne@avbuyer.com Emma Davey emma@avbuyer.com MANAGING DIRECTOR John Brennan +44 (0)20 8255 4229 john@avbuyer.com USA OFFICE 1210 West 11th Street, Wichita, KS 67203-3517 EUROPEAN OFFICE AvBuyer House, 34A High Street, Thames Ditton, Surrey KT7 0RY, UK +44 (0)20 8255 4000 Freephone from USA: +1- 855 425 7638 PRINTED BY Fry Communications, Inc. 800 West Church Road, Mechanicsburg, PA 17055 www.AVBUYER.com

Rates from 3.66%

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We service, underwrite and porfolio our own loans, consistently beating the big banks with 20-year terms – no matter the age of your aircraft. AFC offers clients expert, customized solutions and we closely manage the aviation finance process from start to finish.

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Page 145 AVBUYER MAGAZINEAircraft Vol 24Index Issue see 4 2020 19

Avjet FP March.qxp_Layout 1 18/02/2020 14:22 Page 1

Avjet multi March.qxp_Layout 1 18/02/2020 14:53 Page 1

2006 Gulfstream G450 SN 4049

2005 Gulfstream G550 SN 5072

2019 Gulfstream G650ER SN 6371

2014 Challenger 605 SN 5959

2000 Boeing 757 SN 29306

2011 Gulfstream G550 SN 5344

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

SALES | ACQUISITIONS | CONSULTING AVJETGLOBAL.COM

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

MarketIndicators APRIL20.qxp_Layout 1 18/03/2020 15:12 Page 1

MARKET INDICATORS

Business Aviation Market Overview With COVID-19 impacting vast swathes of the world, what is the impact on Business Aviation, and how can business aircraft actually help users safely travel at this time? Rollie Vincent, editor, Market Indicators reflects….

H

old on. Tighten your seat belts. Breathe. Locate the overhead oxygen mask compartment. Take the time to read the safety card and listen to the people who are primarily there for your safety.

The turbulence we had been anticipating has arrived, and it is at all flight levels. There is no escaping this unprecedented storm. COVID-19 is already the Black Swan of swans, relegating the 737 MAX crisis to a quarter-panel story on page 19.

As if the State of Washington did not already have enough o deal with – the Boeing crisis, crumbling infrastructure, climate change, high housing prices and tax rates, digital economy “Google” taxes, and homelessness - coronavirus has arrived.

The good news is that the lifecycle of the virus looks to be measured in months. The bad news is that it appears to spread indiscriminately like wildfire. As a critical agent of global trade and travel, civil aviation has been once again thrust to the frontlines of attention as governments desperately seek to contain the invisible menace.

With a new lexicon emerging of near-empty “ghost flights” at major airline hubs and blacklists of would-be air passengers guilty of nothing more than being born in the suddenlysearched “Schengen Area” (spoiler alert: it’s most of Continental Europe), the energies spent finger-pointing and 22 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

blaming will be judged one day by how effective they were at helping us focus on life-critical matters at hand.

The Silver Lining for Business Aviation

Despite the COVID-19 pandemic, it is ironically at times like these that one of the true values of Business Aviation, providing a safe and secure alternative for those who must travel over long distances, shines through the storm clouds.

Individuals, their families, and their organizations who may have been sitting on the fence about aircraft acquisition should seriously re-consider the value equation of a Business Aviation solution.

Yes – it is expensive to acquire, own, and operate an aircraft, and a buyer’s eyes should be as wide open as their wallets when doing the math. But for many, chartering before (or instead of) acquiring remains a hands-down smart option.

These customers can “keep their powder dry” for other investments considered to be more essential and incomegenerating.

We would suggest that it may be high time for customers to re-do their math, allocating a much higher valuation to the time, safety and security benefit line item in the big spreadsheet (if in fact they had even included such a line item www.AVBUYER.com

MarketIndicators APRIL20.qxp_Layout 1 19/03/2020 09:45 Page 2

AVBUYER.com

in their original quantitative assessment).

It seems especially prudent and respectful today to do what we can to help customers find the time and space to re-think, re-imagine, and re-set their air travel priorities. And what better place than in the privacy, comfort and connectivity of their own cabin aboard a private aircraft to that must-attend meeting or destination.

Actual flight demonstrations are, like food samples at Costco stores, a time-honored hook that are almost sure to generate the desired lip-smacking. For those who have yet to experience a private aircraft flight, now is a really good time to do so.

Private and Business Aviation service providers - from charter and fractional ownership programs to FBOs and aircraft management companies – have been upping their game with thoughtfulness and attentiveness to ensure that they deliver experiences that distinguish them from the rest.

Now is an especially good opportunity for them to demonstrate how they can become not only nice-to-have service providers, but trusted, mission-critical, and quality-oflife-enhancing air travel partners.

None of this commentary is meant to minimize the absolute shock of COVID-19. In fact, around the world many economic and societal activities are grinding to a shuddering halt, in what is for many a once-in-a-lifetime disruption of near-gargantuan proportions.

Shuttered schools, empty sports arenas, cancelled corporate gatherings and conferences, quietened airport terminals, parked aircraft, work-from-home professionals with limited day care solutions, and the emptiness, fearfulness, and even angst that comes when someone nearby does so much as sneeze. All of these are now daily features of a new and hopefully temporary world.

COVID-19 Impacts on Market Activity

It is simply too early to know with much specificity how to think about what this change might mean for business, and for www.AVBUYER.com

Business Aviation. New aircraft order activity from prospective buyers of new business aircraft is almost certainly down already, with the unconvinced considerably outnumbering those who recognize an emergent buying opportunity.

Soon to be at the epicenter of the coronavirus health crisis, the United States is beginning to draw upon the best and the brightest minds (and lessons learned from other parts of the world) to fight an unusual foe.

Moving silently and with no radar signature, this coronavirus is a storm cloud that is unlike any other we have thus far entered. Words can barely describe the vital importance of the US to stakeholders across the Business Aviation industry. Home to 6-in-10 turbine-powered business aircraft, the American marketplace is where most Business and General Aviation aircraft are conceived, designed, built, certified, bought and sold, financed, trained for, insured and serviced.

With stock markets, oil futures, and business confidence in a freefall at press time – all at the same time as national politics are at their most divisive in memory – navigating through the COVID-19 storm and defeating this real and viral enemy has suddenly emerged as Job #1.

MI www.navigating360.com



page 27

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

AVBUYER MAGAZINE Vol 24 Issue 4 2020

23

2 0 1 6 C i t a t i o n X L S + s /n 5 6 0 - 6 2 0 6

NEW LISTING

AIRCRAFT SALES & ACQUISITIONS

550 Total Time. Engines on PowerAdvantage+. ADS-B. SwiftBroadband (Aviator 300) Internet w/ Wi-Fi. Hangared.

www.DuncanAviation.aero/aircraftsales 2 0 0 9 C h a l l e n g e r 6 0 5 s /n 57 8 0 REDUCED PRICE

1,507 Total Time. Fully Programmed. ADS-B Out. WAAS/ LPV. FANS 1/A. CPDLC. TCAS 7.1. Proline 21 Advanced.

Acquisitions In Search Of Citation XLS Citation V Legacy 650 (2010 or newer) Legacy 600 Phenom 300 (2015 or newer) Falcon 2000LXS Challenger 604 Gulfstream GIV-SP Hawker 800XP

2 0 0 8 C h a l l e n g e r 6 0 5 s /n 57 1 1

2,279 Total Time. 9 Passenger. ProLine 21 Advanced. Triple Honeywell LASEREF. ADS-B V2. WAAS/LPV.

2 0 0 2 H aw ke r 8 0 0 X P s /n 2 5 8 5 9 4 FOR SALE OR LEASE

Duncan Aviation has been assisting companies around the world with the sales and acquisition of aircraft for 60 years.

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2,539 Total Time. Engines on PowerAdvantage Plus. Duncan Aviation Owned, Operated, & Maintained Since New.

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7,671 Total Time. 2019 P/I. WAAS/LPV. ADS-B. ATG-5000. FDR. TCAS 7.1. OnPoint/MSP Gold.

2 0 0 4 Fa l co n 9 0 0 E X E ASy s /n 1 2 5

1,298 Total Time. Factory Warranty! Full Programs!

WAAS/LPV. ADS-B. FDR. ATG-4000. Swift HSD/Wi-Fi.

1 9 9 3 C h a l l e n g e r 6 0 1 3 A / E R s /n 5 1 2 8

3,717 Total Time. ADS-B Out. WAAS/LPV. GE OnPoint.

-150 APU on MSP. HAPP. Extended Range Fuel.

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7,612 Total Time. EASy II Avionics. FANS/1A. 2016 Paint, Interior, and 2C Inspection. U.S. Ownership.

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MANY OF THE AI RCRAF T WE HELP CLI ENTS BUY REQU IRE VERY LI TTLE ADDI TI ON AL WORK BEFORE THEY A RE PUT I NTO SERVI CE FO R THE NEW OWNER. I F A N AI RCRAFT I S NOT EXAC T LY WHAT THE CUSTOMER WANTS THOUGH, DUNCAN AVIAT ION OFFERS COMPREHENSIV E TI P-TO-TAI L SERVI CES.

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Duncan Aviation has been assisting companies around the world with the sales and acquisition of aircraft for 60 years.

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MARKET INDICATORS

AVBUYER.com

Increased Fuel Sales at US & Canada FBOs Over half (56%) of US and Canada FBOs surveyed said they sold more fuel in 2019 compared to 2018, according to the annual survey conducted by Aviation Business Strategies Group.

“There’s no question that 2019 proved to be a very upbeat and positive year for the FBO industry,” ABSG principal John Enticknap noted. “The survey showed a continued incremental increase in fuel sales for the fourth year in row for the majority of responding FBOs, with a healthy 19% of FBOs surveyed reporting an increase of more than 8%.”

The percentages of FBOs experiencing >8%, and 5-8% increases were the same as in the previous survey. But the share of FBOs that sold 1-4% more fuel grew by 2%, compared to the previous year, to 24%.

Such incremental increases in fuel sales are consistent with the increases in flight activity and flight hours reported by ARGUS TRAQPak for 2019, ABSG principal Ron Jackson said.

2020 FBO Industry Forecast

As many as 65% of the responding FBOs said they expected greater fuel sales in 2020, while only 10% expected fuel sales to decrease compared to 2019. And a record high 73% of FBOs (up from 61% a year ago) said they thought the economy is moving in the right direction.

Oil and Jet-A Fuel Prices, Sustainable Aviation Fuel

According to ABSG’s forecast, the FBO industry can expect oil prices to be “very turbulent” until the latter half of the

year, when it expects pricing to stabilize around $50 per barrel, with Jet A fuel prices predicted to follow the lead of oil prices.

Asked whether they plan to sell sustainable aviation fuel in 2020, only 3% of FBOs polled said they would offer SAF, while 80% wouldn’t. According to ABSG, however, SAF “is here to stay,” and FBOs are advised to plan to add SAF to inventory as more aircraft operators adopt the alternative fuel.

MI www.absggroup.com

Flight Activity – Europe There were 57,227 Business Aviation flights in Europe during February, according to WingX. This represents a YoY decline of 0.8%. Adjusting for a Leap Year, the European flight activity decline exceeded 3% in February and YTD trends are down.

The first week of March is showing a 6% decline, and over 40% drop in flights out of Italy. However, in February 2020 Business Aviation flight activity nose-dived in Germany (down 13%). Flights from the UK also well down though a large growth in flights from Italy, Spain, Russia was recorded.

The big February declines in the UK and Germany came primarily from Turboprops flying 20% less. Large Jet activity was also down in Germany. Other jet activity was up 10% in February.

A significant gain in charter activity was recorded in Russia (where 64% of all flights were AOC). Charters was also up in Switzerland and Spain. AOC activity in Germany and UK and Turkey were well down, however.

Flights within Europe fell 1% in February (or more than 4% with leap year adjustment). Flights from Europe to North America were up 6% up in February, while Africa, Asia and Middle East connections were well down.

“February trends were disappointing, coming off a strong January performance, but the effects of COVID-19 are already evident, with business jet arrivals from China down by 30% YoY, and Germany’s market seeing the largest impact of the www.AVBUYER.com

virus crisis in Asia,” notes Richard Koe, managing director, WingX. “Within Europe, there was some growth in February, notably in the ski season, with flights connecting Moscow, Geneva, Chambery. Overall, the business jet charter market seems to have done quite well.

“Looking ahead, we can already see the escalating negative effect of virus containment measures in Europe, with the potential repercussions for a significant economic relapse in the region over the next few months, which is bound to depress business jet activity further.” page 32 MI www.wingx-advance.com



AVBUYER MAGAZINE Vol 24 Issue 4 2020

27

O'GaraJets April.qxp_Layout 1 18/03/2020 17:08 Page 1

AIRCRAFT FOR SALE

GULFSTREAM G280 SERIAL NUMBER 2028 Aircell GoGo Biz WiFi CabinView Cabin System w/ Dual Monitors Honeywell MSP Engines & APU Collins Avionics Service Plan (CASP) ADS-B Out / FANS-1A / CPDLC Triple FMS & Triple VHF Comms Synthetic Vision System / Heads-Up Display

FA LCO N 5 0 S N 1 4 7 $1,575,000 Fresh 12-24 Month Inspections Fresh Landing Gear Overhaul

GULFSTREAM G550 SN 5028 Fresh 96/192 Month Inspections June 2020 ARCS Premium Completed Feb 2020 CB 190 Horizontal Stab Inspection June 2020

HAWKER 800XP SN 258546 $1,895,000 Low Time, U.S. 135 Pedigrees MSP Gold & HAPP Coverage

HAWKER 800XP SN 258547 $1,895,000 Low Time, U.S. 135 Pedigrees MSP Gold & HAPP Coverage

O'GaraJets April.qxp_Layout 1 18/03/2020 17:08 Page 2

HAWKER 400XP SN RK-572 Low Total Time Since New ADS-B Out Compliant Like New Paint - 2016 by Textron

HAWKER 400XP SN RK-504

PHENOM 100EV SN 408 $3,895,000 Best Operating Cost In Its Class Fully Loaded With Options

PHENOM 100 SN 151 $1,850,000 10 Yr Inspection Completed Fresh Landing Gear Overhaul

C I TAT I O N E XC E L S N 5 6 0 - 5 1 3 9 $2,295,000 Ready for Immediate Delivery Two U.S. Owners Since New

C I TAT I O N J E T S N 5 2 5 - 0 2 78 Jet Performance At Turboprop Costs Two Us Ownership Since New Engines On Tap Elite

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SERIAL NUMBER 145 – REGISTRATION CS-EME EASy II BASELINE WITH ADS-B OUT, ENGINES & APU ON HONEYWELL MSP GOLD, DRY BAY MOD C/W SB 329, 2C INSPECTIONS & GEAR OVERHAULS C/W MAY 2017

2006 DASSAULT FALCON 2000EX EASy SERIAL NUMBER 093

FRESH 3B & ENGINE MINOR INSPECTIONS, 2C CHECK C/W JULY 2018, DESIRABLE NINE SEAT CONFIGURATION, ONLY TWO OWNERS SINCE NEW, CAMP MAINTENANCE TRACKING, ENGINES ON PRATT & WHITNEY ESP GOLD, APU ON HONEYWELL MSP GOLD, RVSM, PBN

2010 BOMBARDIER GLOBAL EXPRESS XRS SERIAL NUMBER 9371

IN SERVICE DECEMBER 2010, AIRFRAME ON SMART PARTS PLUS, ENGINES ON ROLLS ROYCE CORPORATE CARE, APU ON HONEYWELL MSP, ONE OWNER SINCE NEW, BATCH 3.3, FANS 1/A, CPDLC, TCAS 7.1, ENHANCED VISION SYSTEM (EVS), HEAD-UP DISPLAY (HUD), INMARSAT SWIFTBROADBAND & INMARSAT SWIFT 64

2009 BOMBARDIER CHALLENGER 605 SERIAL NUMBER 5765

ONE OWNER SINCE NEW, 96 MONTH INSPECTION COMPLIED WITH JULY 2017, PROLINE 21 ADVANCED UPGRADE, AIRFRAME ON SMART PARTS PLUS, ENGINES ON GE ONPOINT, APU ON HONEYWELL MSP GOLD

THE WORLD’S FIRST AND ONLY STREET LEVEL CORPORATE AVIATION SHOWROOM.

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1998 BOEING BUSINESS JET SERIAL NUMBER 29273

NEW INTERIOR REFURB 2017, NEW EXTERIOR 2017, FANS-1/A, TCAS 7.1, ADS-B, LOW CABIN ALTITUDE UPGRADE, HEAD-UP DISPLAY (HUD), APPLE TV, SATCOM SBB UPGRADE – WIFI HD-710, IFE/CMS UPGRADE, 9 PATS TANKS – LONGEST RANGE BBJ AVAILABLE ON THE MARKET

2008 GULFSTREAM G550 SERIAL NUMBER 5174

WILL DELIVER WITH FRESH 144 MONTH INSPECTION, FOURTEEN PASSENGER EXECUTIVE CONFIGURATION, ENGINES ON ROLLS ROYCE CORPORATE CARE, TCAS 2000 WITH CHANGE 7.1, GULFSTREAM PLANEVIEW CERT. FOXTROT, NEW EXTERIOR PAINT, LED UPWASH LIGHTING, HONEYWELL MCS-7120/HD-710 PHASE IV STAND-ALONE SATCOM WITH HIGH SPEED DATA UNIT, SATCOM DIRECT ROUTER FOR 3G DATA ACTIVITY ON GROUND, DIPLEXER (DLNA) FOR INMARSAT SWIFT BROAD BAND (SBB) OPERATION, ASC 84D ENHANCED NAVIGATION, FANS-1/A, CPDLC, ETC., ASC 105C ADS-B OUT

2005 GULFSTREAM G550 SERIAL NUMBER 5058 – REGISTRATION N2480H

ENGINES ON ROLLS ROYCE CORPORATE CARE, APU ON HONEYWELL MSP, AVIONICS ON HONEYWELL AVIONICS PROTECTION PLAN, CUSTOM 14 PASSENGER FLOORPLAN BY GULFSTREAM SAVANNAH IN 2009, AFT GALLEY & FORWARD CREW REST, U.S. REGISTERED / FAA PART 135, ADS-B OUT, FANS-1/A, CPDLC, BROAD BAND MULTI-LINK (BBML) HIGH SPEED DATA WITH GEN 2.5 SERVER (YONDER SERVICE), SWIFT BROADBAND, 12 MONTH / 500 HOURS INSPECTION C/W FEBRUARY 2020

1997 GULFSTREAM G-V SERIAL NUMBER 506 – REGISTRATION M-FISH

LOW TIME, ENGINES ON ROLLS ROYCE CORPORATE CARE, AVIONICS ON HONEYWELL AVIONICS PROTECTION PLAN, MECHANICAL PARTS ON HONEYWELL MECHANICAL PROTECTION PLAN, NO DAMAGE HISTORY, OPERATED PRIVATELY – NOT FOR CHARTER, FAA COMPLIANT – PART 91, FORWARD GALLEY & CREW REST, NEW EXTERIOR PAINT & INTERIOR IN 2015, SPACIOUS 8+1 PASSENGER CONFIGURATION FEATURING AFT PRIVATE MASTER BEDROOM WITH FIXED FULL SIZED BED

25 Park Lane, London W1K 1RA EU +44 (0) 203 603 0000 | US +1 917 414 1995 sales@thejetbusiness.com | www.thejetbusiness.com

MarketIndicators APRIL20.qxp_Layout 1 18/03/2020 15:14 Page 4

MARKET INDICATORS

AVBUYER.com

Year-End 2019 Avionics Sales Update The Aircraft Electronics Association released its 2019 Year-End Avionics Market Report, and total worldwide Business & General Aviation avionics sales for 2019 showed a 10.2% increase over 2018’s year-end sales.

Of the more than $3bn in sales recorded in 2019, 55.1% came from the retrofit market (avionics equipment installed after original production), while forward-fit sales (avionics equipment installed by airframe manufacturers during original production) amounted to 44.9% of sales.

According to the companies that separated their total sales figures between North America (US and Canada) and other international markets, 74.7% of the 2019 sales volume occurred in North America (U.S. and Canada), while 25.3% took place in other international markets.

2019 Percentage of Total Sales by Market "For the first time, the Business and General Aviation avionics industry has reported more than $3bn in yearend sales," said AEA President and CEO Mike Adamson.

"In addition, the industry has reported an increase in yearover-year sales for three straight years and 12 consecutive

2019 Year-End Worldwide Business & General Aviation Avionics Sales ~

QUARTER

RETROFIT

FORWARD FIT

TOTAL SALES

Q1 2019

$388.1m

$336.1m

$724.2m

Q2 2019

$406.3m

$376.5m

$782.7m

Q3 2019

$414.5m

$366.3m

$780.8m

Q4 2019

$456.0m

$328.2m

$784.3m

2019 T0TALS

$1.657bn

$1.348bn

$3.006bn

2019 Year-End Worldwide Business & General Aviation Avionics Sales QUARTER

RETROFIT

FIT FORWARD RETROFIT

US/CANADA

TOTAL SALES T INTERNATIONAL

Q1 2019

53.6%

46.4%

76.1%

23.9%

Q2 2019

51.9%

48.1%

73.7%

26.3%

Q3 2019

53.1%

46.9%

74.9%

25.1%

Q4 2019

58.1%

41.9%

75.3%

24.7%

2019 T0TALS

55.1%

44.9%

74.7%

25.3%

quarters. As leaders in product innovation, it's clear that the contributions to the international economy by avionics manufacturers are significant.”

MI www.aea.net

Jetcraft: Strong Market Activity to Start 2020 Jetcraft has reported strong activity at the beginning of 2020 as, according to the company, owners seek faster upgrades to new or longer-range models.

“The speed with which buyers are upgrading is unprecedented with average ownership cycles now taking 4-5 years, down from the previous 7-10 years,” notes Chad Anderson, president, Jetcraft.

He cites the start of the Bombardier Global 7500 resale market as a key source of activity, adding that energy around the product is building.

“We sold one of the world’s first pre-owned Global 7500 jets at the end of 2019 and closed a second one this past February. We have other 7500 options coming soon, and the more units Bombardier delivers, the more acceptance this flagship seems to receive.”

Trade-in Activity Up

Offering the ability to take in aircraft trades, Jetcraft is seeing a surge in trade-in activity too. “Whether someone is seeking their first aircraft or looking to move to a longer-range model, we’re listening to our clients’ requests,” Anderson adds.

And despite a softening of demand in some regions due to current economic challenges, Jetcraft’s global structure enables buyers from stronger areas such as the Americas to acquire aircraft being sold out of these regions.

According to Chris Brenner, SVP Sales – Americas, “We are experiencing a high velocity of deals in the Americas, as these 32 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

buyers are capitalizing on aircraft coming out of more challenged countries.

“We expect to see a lot of upgrades happening here throughout 2020, particularly given the US tax law that exists for those who can benefit from bonus depreciation on new or used aircraft.”

MI www.jetcraft.com page 34



www.AVBUYER.com

Hatt & Associates March.qxp_Layout 1 17/02/2020 12:32 Page 1

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

Refurb and 2C Inspection E, F, Interior and G Insp.

Completed completed March 2019 in September2016

by Standard Aero Asking $10,750,000 Teflon Coating completed in 2017

Unique in Experience, Global in Scope.

2016 King Air 350i S/N: FL-1040 Asking Price: Make Offer 992.9 hours since new ADS-B Out Aircell ATG-5000 WiFi Pre-Buy Assurance Program completed April 2019 by Textron - Tampa

2007 Learjet 45XR S/N: 45-346. Reg: N385MH Asking Price: $2,795,000

1-(303) 790-1050 hattaviation.com

9,046.54 hours since new Engines and APU enrolled on MSP Next Gen Avionics ADSB-Out, TCAS 7.1 Delivered with recent A - D Inspections Paint and Interior Refurbished in 2016

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

Hatt & Associates: Global Aviation Sales Acquisitions

Brokerages

Consulting

Pre-Buy Management

Contract/Legal Services

Scottsdale | Denver | Breckenridge | Wichita | Dubai | Calgary | Miami

MarketIndicators APRIL20.qxp_Layout 1 18/03/2020 15:18 Page 5

MARKET INDICATORS

AVBUYER.com

In-Service Aircraft Values & Maintenance Condition Asset Insight’s market analysis on February 28, covering 134 fixedwing business aircraft models and 2,192 aircraft listed for sale, uncovered a 2.1% inventory fleet increase over January’s figure.

All four groups contributed to the inventory increase, with Large Jets experiencing the greatest unit expansion (5.5%), Turboprops showing a 2.6% increase; Small Jets growing 1%; and Medium Jets expanding 0.5%.

During the month of February, the average Ask Price for aircraft in our tracked fleet increased 0.9%.

• • • •

Medium Jets posted the largest increase (4.4%) Small Jet prices averaged a 1.9% increase Turboprops ask prices increased 0.3% Large Jet ask prices decreased 2.6% (but the figure was still above the group’s 12-month average).

Inventory Fleet Maintenance Condition

The revised model mix Asset Insight has been tracking since the beginning of this year posted an asset quality improvement during February, while the expanded unit availability included aircraft with lower near-term maintenance costs for the fourth consecutive month.

The tracked inventory registered the following figures: •

•

The for-sale fleet’s Quality Rating rose (improved) 0.4% in February, from January’s 5.272 to 5.295, representing the second consecutive 12-month best figure within the ‘Excellent’ range on Asset Insight’s scale of -2.5 to 10.

Maintenance Exposure (an aircraft’s accumulated/embedded maintenance expense) posted the lowest (best) monthly figure for the third consecutive month, this time decreasing a slight 0.4% to $1.326m.

Maintenance Exposure to Ask Price (ETP) Ratio

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

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

February’s analytics revealed that nearly 46% of our tracked models, and over 52% of our tracked fleet, posted an ETP Ratio greater than 40%.

February’s fleet ETP Ratio improved (decreased) to 65.4% from January’s 72%, a figure that bettered the 12-month average, and all four groups benefited.

•

For the third consecutive month, Turboprops posted the lowest ETP Ratio at 42.3% (the group’s lowest (best) 12-month figure for the second consecutive month). page 42

34 Vol 24 Issue 4 2020 AVBUYER MAGAZINE



Table A

Fleet Maintenance Condition 5.35

$ Million

$1.50

5.295

$1.45

5.25

$1.40 $1.35 $1.33

5.15 M

A

M

Quality Rating

J

J

A

S

O

Maintenance Exposure

N

D

J

$1.30

F

Quality Rating Trendline

Table B

LOW RISK AIRCRAFT MODEL ETP RATIO

G500 1.3% G650ER 3.1% Global 6000 4.1% Citation Latitude 4.1% CL-650 4.7% G650 5.1% F2000LXS 5.9% Citation Sovereign + 7.2% Citation CJ3+ 7.4% F7X 7.7% CL-350 9.2% Legacy 500 9.5% Boeing BBJ 10.5% Citation X+ 10.8% Learjet 75 11.3% F2000LX 11.3% Citation CJ4 525C 11.6% G280 11.7% F900EX EASy 12.7% Legacy 650 13.2% King Air 350i 13.3% Citation Encore + 14.8% Phenom 300 15.2% F2000EX EASy 16.4% F900DX 16.6% CL-605 17.2% Piper Meridian 17.3% Caravan 208-675 18.2% TBM 850 18.7% Pilatus PC12 19.2% G450 20.9% Citation Sovereign 680 21.4% Hawker 900XP 22.1% G550 22.9% G150 23.7% Global XRS 24.6% Phenom 100E 24.7% Citation Encore 25.6% KingAir 350 - Post-2000 25.7% Caravan 208 26.9% F900EX 27.0% Nextant 400XTi 27.3% Citation CJ3 27.5% KingAir B200 - Post-2000 27.9% Learjet 45XR 28.3% Citation XLS 28.5% CL-300 30.5% Citation CJ2+ 525A 31.2% Citation CJ2 31.4% Caravan Grand 208B 31.8% Citation Mustang 510 32.5% Citation CJ1+ 33.0% Phenom 100 33.4% Citation XLS (MSG3) 35.1% Learjet 60XR 35.8% F900B 35.8% GV 36.0% Global 5000 36.1% Citation Excel 560XL 36.8% Falcon 50EX 37.6% KingAir 350 - Pre-2001 37.8% Piaggio P-180 II 39.6% Hawker 4000 39.9%

HIGH RISK AIRCRAFT MODEL ETP RATIO

Hawker 850XP Embraer Legacy 600 G200 Citation Bravo Premier 1A CL-604 KingAir B-200 - Pre-01 TBM 700A Hawker 400XP Citation CJ1 G400 F900 Learjet 40XR Citation V Ultra Learjet 45 w/APU Premier 1 F2000 GIV-SP Learjet 40 KingAir 300 Citation X (MSG3) Citation V 560 Citation VII Global Express Hawker Beechjet 400A Hawker 800XP Learjet 45 Learjet 60 Citation ISP Learjet 31A Hawker 1000A Piaggio P-180 Learjet 55C Hawker Beechjet 400 Citation II Citation VI KingAir C90 F50 GIV Learjet 36A CL-601-3R Learjet 31 G100 Citation I Hawker 800A Learjet 35A CL-601-3A Learjet 55 Citation III CL-601-1A Hawker 125-700A F50-5 GIII

40.2% 40.6% 48.1% 48.2% 48.5% 49.0% 52.4% 53.9% 54.7% 55.8% 56.3% 56.6% 57.4% 61.5% 63.1% 64.6% 65.1% 65.9% 66.0% 67.3% 70.5% 76.0% 79.2% 83.1% 83.7% 85.3% 86.9% 90.3% 94.2% 99.6% 100.4% 100.8% 104.4% 106.1% 106.7% 117.6% 118.2% 122.4% 124.2% 124.7% 134.0% 142.0% 144.1% 172.6% 176.4% 197.2% 203.2% 210.9% 217.4% 256.2% 278.7% 375.2% 626.2%

Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of February 28 2020 Source: JETNET (www.jetnet.com) Asset Insight, LLC (www.assetinsight.com)

www.AVBUYER.com

Aviation Consultants to the World PRICE REDUCED

2008 CJ3 | S/N 264 2941 TSN • TAP Advantage Elite • Proparts • Dual FMS Dual GPS • WAAS / LPV Approved • ADS-B OUT • TCAS II/7.1 Satphone FDR • CVR • EU OPS 1 Approved • DOC 22 c/w July/2017 Galley Woodwork Refinished May /2019 • One Owner / Operator Will Deliver with Fresh DOC Inspections

2015 CJ3+ | S/N 476 517 TSN • TAP Elite • Proparts • SVT • XM WX • HF • CVR HSD • ADS-B OUT • Belted Lav • DOC 8/11/ 12 / 14/16 c/w Oct /19 DOC 22 c/w Oct /18 • May be Seen in Houston, Texas

2007 CJ2+ | S/N 341 TAP Blue • Proparts Dual FMS • CVR • Prov for HF

A

B

LI

SHED

97

YEARS

19

T

23 AV I ON L

D

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OFF-MARKET OPPORTUNITIES: LR45 | GLOBAL 5000

R

T

PA

Belted Lav • ADS-B OUT / WAAS APPROVED DOC 22 c/w Oct /18 • 2017 Paint / Interior • 5418 TSN

IN

ACQUISITION AIRCRAFT WANTED: FALCON 7X | HAWKER 900XP

T +1 713 681 0075 | sales@paravionltd.com | paravionltd.com | Houston, TX USA

Project1_Layout 1 20/03/2020 11:17 Page 1

Project1_Layout 1 20/03/2020 11:19 Page 1

CHARTER - MANAGEMENT - SALES & ACQUISITIONS - LEASING - DEFENCE - DESIGN

GLOBAL CONNECTION TO THE WORLD OF AVIATION

WWW.SPARFELL.AERO

2020_sparfell_avbuyer_simple_page.indd 2

10.03.20 09:35

+41 22 787 08 77 AIRBUS A380-800 Two A380-800s, Ready for Head-of-State VVIP Conversion.

Make Offer

2010 GULFSTREAM G550 S/N 5303 2’300 TT, Engines & APU on Programs, 2017 Paint & Interior, Fresh 96 Mths.

Make Offer

contact@sparfell.aero www.sparfell.aero

2012 LINEAGE 1000 S/N 317 1’840 TT, Engines on GE Onpoint Program, WiFi, 19 Pax.

Make Offer

DEAL PENDING

2003 HAWKER 800XP S/N 258612

2007 LEGACY 600 S/N 995

3’975 TT, Engines on MSP Gold, 8 Pax + Belt Lav. G-Check + ADS-B completed in January 2020.

4’779 TT, Recent 144 Mths/LDG OVH/ ADS-B/Cabin touch-up, EASA, EEC Airframe Program, RRCC Engines Program, Wi-Fi, 13 Pax.

2014 CITATION CJ4 OFF-MARKET

2010 A109S GRAND S/N 22162

3’103 TT, ADS-B out v2, T-CAS 7.1, Airframe & Engines on Programs, EASA, 9 Pax, WAAS, LPV, not EU imported, one owner since new.

1’697 TT, New int. & paint 2018, 5+1 Pax, Fresh annual inspection completed in December 2019.

Make Offer

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2020_sparfell_avbuyer_simple_page.indd 1

Make Offer

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10.03.20 09:35

Jet HQ March branding.qxp_Layout 1 17/02/2020 15:02 Page 1

Go Anywhere For Your Next Ride JetHQ knows the global aircraft marketplace from tip to tail. We go anywhere to find a plane that drives your passion. Our dedicated professionals bring decades of sales experience, with relationships and resources to close deals others can’t. Your next set of wheels should fly.

+1.858.397.9773

AIRCRAFT ACQUISITIONS

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JetHQ.com

Your Headquarters for Global Aircraft

9:10 am

Jet HQ April inventory FP.qxp_Layout 1 16/03/2020 15:23 Page 1

Your Headquarters for Global Aircraft Sales

2004 HAWKER 400XP • Serial Number: RK-374 • RVSM and Currently on a FAR 135 Certificate • Based and Registered in the US Since New

2007 LEARJET 45XR • Interior Carpet and Leather Refurbishment – Jan. 2019 • Always Hangared

2016 KING AIR 350I • Serial Number: FL-1040 • ADS-B Out • Aircell ATG-5000 WIFI • Low Hours - 911 Since New

• Delivered with Recent A - D Inspections • Paint and Interior Refurbished - 2016

2009 HAWKER 750 • Collins Pro Line Fusion • Fresh Textron Pre-Buy Assurance Program Inspections

1981 KING AIR B100 • Serial Number: BE-118 • 2020 ADS-B Compliant • Executive Wings Winglets • Chelton EFIS Avionics Package

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

• Serial Number: HB-31 • Low Hours- 1,892 Since New • Engines and APU on Programs- MSP Gold

• One Owner Since New • No Damage History • ADS-B Out

1992 BEECHCRAFT A36 BONANZA • Phase 1-4 Inspections CW August 2019 • McCauley Black Mac 5 Blade Props

• • • •

Serial Number: E-2690 4,221 Hours Since New ADS-B Compliant New Paint- January 2020

• No Damage History • Seats and Carpet Interior 2011

MarketIndicators APRIL20.qxp_Layout 1 18/03/2020 14:23 Page 6

MARKET INDICATORS

AVBUYER.com

Large Jets Ask Price vs. Maintenance Exposure

Asset Quality Rating

$ Millions

Scale -2.500 to 10.000

$ Millions

Large Jets were a distant second at 62.3%.

Medium Jets posted their lowest (best) 12-month figure at 72.8.

Small Jets improved to 74.7%, a figure that was worse than the group’s 12-month average.

Market Summary

Average Ask Price for the tracked fleet increased 0.9% in February to set a 12-month high figure. Only two of the four groups, Medium Jets and Turboprops, were the ones positively affected but both posted 12-month high figures.

Large Jets: Our tracked fleet’s inventory increased by 24 units in February. The latest aircraft mix propelled the group’s Quality Rating further into the ‘Outstanding’ range, a standing Large Jets have now held for the last 10 months.

Ask Price vs. Maintenance Exposure

$3.47

$3.50 $3.25

Feb-20



Asset Quality Rating Scale -2.500 to 10.000

$1.35

5.300

5.300 5.200

42 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

Feb-20

Jan-20

Dec-19

Nov-19

Oct-19

Sep-19

Aug-19

Jul-19

5.000 Apr-19

$1.25

Mar-19

Feb-20

Jan-20

Dec-19

Nov-19

Oct-19

Sep-19

Aug-19

Jul-19

Jun-19

May-19

Apr-19

Mar-19

$1.27

Jun-19

5.100

$2.75 $2.50

Jan-20

Medium Jets: The group’s Quality Rating finally penetrated the ‘Excellent’ range through a 1.57% improvement, while Maintenance Exposure dropped (improved) 1.9% to a better-thanaverage figure. Inventory increased by three units, creating a 4.4% Ask Price increase and leading to the group’s 12-month best.

Considering the ETP Ratio struck a 12-month best (lowest) figure, many sellers will have sufficient statistics on their side to make things work in their favor. Buyers also have an opportunity to structure value-based transactions, assuming they do their page 44 homework

Medium Jets

$1.30

$3.00

Dec-19

Ask Price decreased by 2.6% but considering last month’s figure represented the group’s 12-month best figure, buyers and sellers appear to have some excellent opportunities to structure valuable transactions, especially with Maintenance Exposure hovering just above the group’s 12-month low (best) figure.

$ Millions

$3.75

Nov-19

5.400

Oct-19

$2.80

Mar-19

Feb-20

Jan-20

Dec-19

Oct-19

Nov-19

Sep-19

Aug-19

Jul-19

Jun-19

Apr-19

May-19

Mar-19

$2.94

5.500

Sep-19

$3.00

Aug-19

$11.0

5.600

Jul-19

$3.20

Jun-19

$12.0

5.626

May-19

$3.40

5.700

May-19

•

$3.60

$13.0

$10.0

• •

$12.9

Apr-19

$14.0

www.AVBUYER.com

EAGLE AVIATION +1 803.822.5520

2861 AVIATION WAY

SALES@EAGLE-AVIATION.COM

COLUMBIA METRO AIRPORT (KCAE)

EAGLE-AVIATION.COM

WEST COLUMBIA SC 29170 USA

2016 LEGACY 450 • 55010006

2001 CITATION X • 750-0160

2011 CITATION SOVEREIGN • 680-0317

1993 CITATION V • 560-0236

1997 CITATIONJET • 525-0218

1997 CITATIONJET • 525-0192

1981 CESSNA 340A RAM VI • 340A1204

2000 SOCATA TBM-700B • 180

1999 CESSNA 206H • 20608073

2002 CESSNA 182T • 18281086

MarketIndicators APRIL20.qxp_Layout 1 18/03/2020 14:26 Page 7

MARKET INDICATORS

AVBUYER.com Tony Kioussis is president of Asset Insight.

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

Small Jets Ask Price vs. Maintenance Exposure

Asset Quality Rating

$ Millions

$1.95

$0.90

$1.85

$0.77

5.400

$0.80 5.157

5.200

Small Jets: Quality Rating remained within the ‘Very Good’ range for Small Jets, although it did suffer a 0.74% setback.

Maintenance Exposure followed suit by increasing a slight 0.2%.

All this resulted from a seven-unit inventory increase and a new fleet mix.

Small Jets did post a 1.9% Ask Price increase, although that resulted in a figure below the group’s 12-month average. While all this juggling also led to a slight ETP Ratio improvement in February, the age, availability and price associated with many models will make it difficult for many sellers to be enthused by the offers they’re likely to receive.

Outstanding Excellent 5.500 5.250 or to Greater 5.499

Turboprops

44 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

Feb-20

Dec-19

Jan-20

Feb-20

Jan-20

4.750 Dec-19

$0.50

Nov-19

4.850 Oct-19

$0.55

Sep-19

4.950

Aug-19

Feb-20

Jan-20

Dec-19

Nov-19

Oct-19

Sep-19

Aug-19

Jul-19

Jun-19

May-19

Apr-19

Mar-19

$0.54

5.050

Jul-19

$1.45

5.151

5.150

May-19

$0.60

$1.50 $1.40

$0.70 $0.65

$1.55

Below Average Average 4.500 Less to than 4.749 4.500

Good 4.750 to 4.999

Scale -2.500 to 10.000

Apr-19

$1.60

Very Good 5.000 to 5.249

Asset Quality Rating

Mar-19

$1.62

Nov-19

Asset Quality Rating Key

$ Millions

$1.65

Oct-19

MI www.assetinsight.com

Jun-19

Ask Price vs. Maintenance Exposure

Sep-19

0.3%, and the group’s ETP Ratio decreased slightly to post 12month best figures for all four data points.

As we said last month, Turboprops continue to offer great opportunities for buyers and sellers to structure value-based transactions that benefit both parties.

Asset Insight analytics (www.assetinsight.com)

Turboprops: Inventory increased by 11 units in February, and it was all good news both buyers and(www.assetinsight.com) sellers of Turboprops. The AssetforInsight analytics Quality Rating rose 0.6% within the ‘Very Good’ Range, Maintenance Exposure fell (improved) 2.7%, Ask Price improved

Aug-19

Jun-19

5.000

May-19

$0.60

Apr-19

Feb-20

Jan-20

Dec-19

Oct-19

Nov-19

Sep-19

Aug-19

Jul-19

Jun-19

Apr-19

May-19

Mar-19

$1.74

Jul-19

$0.70

Mar-19

$1.75 $1.65

Scale -2.500 to 10.000

www.AVBUYER.com

Freestream April.qxp 18/03/2020 10:39 Page 1

2009 Boeing BBJ3 Airframe Total Time: 2,925 hrs. Aircraft Total Cycles: 886 cycles

2009 Falcon 7X

2006 Gulfstream G550 S/N:5112

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

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

2018 Gulfstream G650ER S/N:6286

2006 Gulfstream G550

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

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London +44 207 584 3800 sales@freestream.com

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

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Hong Kong +852 2724 5620 info@freestreamhongkong.com

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GAMA 2019 Year End Shipment Analysis The General Aviation Manufacturers Association (GAMA) announced strong year-end billing and shipment numbers, with total fixed-wing airplane shipments reaching 2,658 units and billings totaling US$23.5bn. Mike Potts analyzes the data…

Overall, billings were up 14.3% over the $20.6bn reported for 2018. Total shipments were up 9.3% from 2,432 to 2,658.

The jet market reached 809 units – the best shipments total for more than a decade, and the fifth best total for jet deliveries in the history of the industry. Those 809 units were up 15.1% over the 703 reported during 2018. The last time jet deliveries were higher was in 2009 (870 units).

The piston segment had an even better year, finishing 16.4% ahead of 2018, with 1,324 shipments in 2019 (compared with 1,137). Only turboprops lagged their 2018 total with 525 units shipped, down 11.3% from 592 in 2018.

It’s common for the industry to experience a Q4 sales surge owing to tax factors and a desire of OEMs to close out inventory before year-end. Typically, about a third of all aircraft sales will occur in Q4, and 2019 proved to be no exception. As much as 34.5% of deliveries this year came between October and December.

The Jet Market Specifics

The jet market’s performance signaled a recovery that’s eluded us since 2014 when jet deliveries peaked at 722 units, only to settle back to the high-600- to low-700-unit range.

This year’s breakout marks only the fifth time jet deliveries have exceeded 800 units. It exceeded the 770-to-780-unit range we had predicted for the market in 2019 by almost 5%.

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Looking at the specifics of the jet market, seven of the 11 OEMs reporting to GAMA were up for the year while three were down and one was level. Of those that were down only one was down sharply while the other two fell short by just a single unit.

The leading jet OEM was the traditional market leader, Cessna, with 206 units, up 9.57% from the 188 it reported the year before. Included in Cessna’s total were 58 of its comparatively new Latitude models, the best-selling twin engine jet individually identified in the GAMA report.

Also notable were the first deliveries of Cessna’s new Longitude Super Mid-size Jet. Cessna’s total was bolstered by a Q4 surge that totaled 34.47%, very close to the industry average.

Second place in jet sales went to Gulfstream with 147 units (21.49% ahead of the 121 aircraft it delivered the year before). Gulfstream jumped ahead of Bombardier in Q1 2019 and maintained its lead throughout the year. The company’s carefully controlled production rate frequently doesn’t result in a Q4 surge, and this year was no exception as Gulfstream’s 44 deliveries in Q4 comprised 29.93% of its 2019 output.

By comparison, third-placed Bombardier delivered 52 aircraft in Q4, which was 36.62% of its 142-unit annual total.

Bombardier’s year-end total was 3.65% ahead of the 137 units it delivered in 2018.

Embraer captured fourth place in jet deliveries with 109 units, up from 91 in 2018. The company benefited from a very strong Q4 with 42.2% (46 units) of its shipments coming in the final three months. Cirrus came fifth with 81 units, including 29 (35.8%) of its annual total coming in Q4. Jet sales at Cirrus www.AVBUYER.com

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AVBUYER.com Mike Potts is respected industry-wide as an aviation journalist. He has worked in the communications departments of Beech Aircraft, Sino Swearingen and M7 Aerospace, and has been analyzing GAMA’s delivery reports for AvBuyer since 2003 where he has built an excellent track record for accurate shipment predictions. Contact him via mpotts1@satx.rr.com

gained 28.57% over 2018 when it delivered 63 jets.

Sixth place in the jet market was shared by European OEMs Dassault and Pilatus, both finishing the year with 40 units. Pilatus, with 13 units in Q4 appears to have had a typical surge of 32.5%. But a closer look at the numbers suggests this isn’t really what happened.

Instead Pilatus appears to be spooling up production of the PC-24 to a rate of around four units per month, in which case the company’s Q4 total is close to its regular production rate. Pilatus deliveries are up from 18 the previous year, a gain of 122.22%.

Dassault only reports twice a year, but its H2 total of 23 units represented 57.5% of its annual 40-unit total. Dassault’s total was one unit behind its 2018 total.

Also down on its 2018 shipment was Honda (eighth place) with 36 units. This, too, was a single unit behind the OEMs previous year’s total.

Next in line in the jet market was Airbus (six deliveries, including three in Q4). The company had reported just one delivery in 2018. Following Airbus was Boeing with two deliveries, including one in Q4. Boeing’s total was down from six in the prior year.

Listed among GAMA’s jet OEMs is ONE Aviation with no deliveries in either 2018 or 2019, but evidently continuing to support the type certificate (a requirement to maintain a GAMA listing).

Interestingly GAMA noted that the North American market accounted for 67.1% of the jet deliveries in 2019. Historically the North American market has totaled around 50%.

The Turboprop Market Specifics

A look at the turboprops reveals the only market that’s not thriving right now. GAMA says the market is off 11.2%.

Looking just at the business turboprops (removing agricultural airplanes from the equation), however, the drop is less painful at -8%, from 413 units in 2018 to 380 last year.

The traditional business turboprop market came quite close to the 365-370 range we forecast. We also predicted that the GAMA number would come in between 520-525 which proved to be on target. Sadly, all but one turboprop OEM reporting to GAMA had lower numbers than the year before. The one remaining company was level.

Leading the turboprop market as it has for most of the last 50 years is Textron’s Beechcraft unit with 93 deliveries, down slightly from 94 a year ago.

Second place in turboprops was tied between Textron’s Cessna unit and Pilatus, each with 83 units. Cessna was down from 92 in 2018 while Pilatus’ total was equal to its 2018 total.

Pilatus had a strong 37.35% Q4 surge with 31 units.

Daher gained fourth place with 68 deliveries. The company’s numbers now include totals from Quest Aircraft, which it acquired mid-way through 2019. Daher continues to produce the Kodiak 100. With the two company’s numbers combined, the Daher total was 68 in 2019 compared with 73 in 2018.

Piper closed the year in fifth, with 44 units down from 56 in 2018. The OEM did enjoy a healthy surge in Q4 2019 (19 units, or 43.18%).

Filling the last two turboprop delivery positions were Pacific Aero with six units, down from 11 in 2018, and Piaggio with three, down from four.

In another sad note, there is one less turboprop in the market than there was a year ago. After more than 60 years in production, Pilatus elected to stop building the iconic PC-6 single engine turboprop.

Pistons and Summary…

Of 14 companies reporting single-engine piston deliveries to GAMA last year, eight were ahead of their 2018 totals, five are behind and one is even. The market leader, of course, was Cirrus with 384 deliveries, up from 380 the year before.

The piston twin market continues to thrive with 213 deliveries in 2019, including 107 from Diamond. Diamond’s total was up from 86 the year before.

Collectively the piston singles and twins together totaled 1,324 units, right in the 1,300 to 1,325 range we predicted.

Notwithstanding the soft performance in turboprops, this is one of the strongest GAMA reports in a very long time. We can only hope jets can sustain the gains and perhaps climb to yet new heights.

MI More information from www.gama.aero

www.AVBUYER.com

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Gulfstream G650ER • S/N 6255

Gulfstream G550 • S/N 5265

File Photo

Gulfstream GIVSP • S/N 1310

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Learjet 45XR • S/N 393

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What are the Signs for Used Aircraft Sales in 2020?

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

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With so many factors impacting the used business aircraft marketplace, Dave Higdon joins together the pieces of the puzzle to provide a picture of where the market is after the opening months of 2020… he used business aircraft market enters 2020 with a renewed sense of energy after taking some hits as 2019 wound down. Potential buyers should be aware that a consensus of formal and casual outlooks anticipates a market skewed toward buyers in 2020.

Hopes are high that January's tepid preowned market activity turns out to be atypical for the year.

As 2020 began, the inventory of preowned business jets and turboprops showed a jump to higher levels, along with flight activity in North America. According to Argus TRAQPak's 2019 annual Business Aviation analysis, business aircraft use in North America increased a nominal 0.9% over 2018.

Not only did 2019 barely edge out 2018, it was the third consecutive year with flights exceeding three million, and 2019’s growth matched 2018’s growth over 2017. Flight activity grew during most of last year, gaining momentum toward year’s end. Activity increased just 0.3% in H1 2019 but rose 1.4% in H2 2019.

Interest and use in the market, therefore, appears steady but is running contrary to a slowing of pre-owned business aircraft sales that ended 2019 with a marked downtick.

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Why the Downturn in Used Aircraft Sales?

According to the various sources, the decline was between 15-19% for the year, reversing what appeared to be a good start to 2019.

Factors cited for the steep downturn vary.

Influences include a global economic slowdown that many economists and analysts attribute to the unpredictability of trade relations between the US, China and other nations. (Those numbers happened well before the Covid-19 virus which added a new and unsettling factor that has shown its teeth through steep declines in the US stock market, and elsewhere.)

Another issue that insiders say helped depress pre-owned business aircraft sales was Automatic Dependent Surveillance-Broadcast (ADS-B). The mandate for US-registered www.AVBUYER.com

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operators went into effect on January 1, with a significant number of operators yet to comply.

The mandate deadlines slid in Europe, Mexico and other parts of the world. But the lack of equipment approvals factor into the used aircraft sales decline. According to Vref, 82% of the worldwide business jet fleet was equipped as of December 2019. Around 2,500 aircraft that are not yet equipped were aged 30 or older, and 80% of those are Light to Mid-size Jets The percentage of the active fleet for sale moved past 10% as 2019 wound down. Of the current inventory, about 20% are under 10 years old. Around 25% are aged 30+ (and are among the most-difficult to equip for ADS-B).

Despite the slowdown in sales, though, various analysts noted that aircraft for sale were taking a few days less to sell in 2019 than in 2018.

An Uneven Market Downturn

Depending on the region, the decline in preowned business aircraft sales looks anywhere from slight to steep. For example, observers say that the decline in sales in the Pacific Rim has declined further with the news of the new potential pandemic shaking the world's economies.

A notable decline was already underway in that region, influenced by a combination of other factors, including a pessimistic business outlook and ongoing trade tensions.

According to several US West Coast sources who work in the Asia-Pacific market, the shift in attitude stems from the combined impact of stresses within China along with pro-democracy protests in Hong Kong, and China's militant responses to use of the South China Sea. Meanwhile, the potential pandemic adds new 52 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

drag on the world's economy, to the point of threatening a new recession with unpredictable depth. And the steep plunges in stock market indexes continued into mid-March.

Looking Ahead to the Rest of 2020

Forecasts for the rest of 2020 were all minimal in detail as analysts and economists continued to grapple with the unpredictable influence of a growing pandemic. And then there are multiple equipment mandates yet to be fulfilled by many operators in the US and around the world.

Finding and funding compatible upgrades for ADS-B, CPDLC and FANS (brokers and dealers noted) looks set to continue to be a drag on sales of older pre-owned business jets but should be a likely boost to new aircraft sales. (Predictions for new aircraft sales in 2020 put forward in Q4 2019 are already ringing hollow, however. Some analysts are quietly saying they'll be surprised if 2020 sales get to within 90% of 2019’s.)

Our final word, however, goes once more to pre-owned business aircraft sales. A recent drop in the Federal Funds rate went into effect in early March as the Federal Reserve acted to try to help offset the business slowdown accompanying the coronavirus scare.

“The potential for lower finance costs may get a few people off the fence and onto the buying side of the equation,” one financial analyst offered. “But countering that are worries about a global recession, which may keep as many comfortably resisting the urge to buy.

“Between this new disease, a manufacturing recession in the making, and the contentious political environment, a lot of people will feel best sitting on the sidelines and watching for signs of improvement,” he concluded. T www.AVBUYER.com

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What Does it Cost to Operate a Light Jet?

What does it cost to own and operate a business aircraft? Working through the different categories, David Wyndham outlines some of the common characteristics of each, and considers the scale of the associated costs… he penultimate installment of our series considers the costs of owning and operating Light Jets (including the socalled Entry-Level Jets).

There’s no single industry definition for the various business jet categories. Conklin & de Decker considers the cabin size and range. When referring to Light Jets, this article considers aircraft that typically seat five to seven passengers, have a step-down aisle, very limited galley and storage space, and a small lavatory that may have a seatbelt for use as an extra seat.

Cabin heights in this category (with the stepdown aisle) requires adults to stoop while entering and exiting and tends to measure 60 inches or less).

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Meanwhile, the range capabilities within this class vary, and non-stop range with full seats tends to come between 1,000nm and 1,800nm. Light Jet range is often weight limited (meaning that operators can carry full fuel with limited passengers, or maximum passengers with limited fuel and range). Most flights in the category last less than 1.5 hours.

Aircraft typical of this category include Cessna’s Citation 500 series (from Citation I up to the CJ3), the Beechjet 400, Bombardier Learjet 31 and 35 series, Embraer’s Phenom 100 and 300 series, and the HondaJet. Note: Very Light Jets such as the Cirrus SF50 VisionJet and Eclipse 550 are smaller than this category’s limits. www.AVBUYER.com

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David Wyndham uses his aviation and business skills to independently advise aircraft owners and operators, helping them make their future aircraft decisions. Wyndham was an owner and President of Conklin & de Decker from 1993 to 2020.

How Much Does it Cost to Buy a Light Jet?

Acquisition costs for new models in this category run from $4.5m up to $9.5m list price. Pre-owned prices for Light Jets aged between five and 10 years old typically run between $2m to about $5m.

Buyers willing to purchase Light Jets older than 30 years can find airworthy examples on the market for less than $1m.

According to AMSTAT data, at the end of February 2020 the Light category had 8,649 active jets of which 998 were actively listed for sale, with an average asking price under $1.6m on the used market.

Placing a pre-owned aircraft into service is likely to require additional funds. A buyer may elect to spend $350,000 or more on upgrades, paint and interior refurbishment. Major maintenance checks may also be due soon for an aircraft and require budgeting for. Engine overhauls vary considerably across this category. If the engines are close to overhaul and not on a guaranteed hourly maintenance plan, then $500,000 to $700,000 should be budgeted per engine for the overhaul. www.AVBUYER.com

What’s the Operating Cost of a Light Jet?

Operating costs for Light Jets depend on the type and age of the aircraft. Below are some averages, taken from the Conklin & de Decker Report, that have been rounded off: Average variable cost per hour: Fuel*: Maintenance: Parts, Labor, Major Maintenance Reserves, Engine Reserves:

$1,835 $921 $500 $414

*Fuel cost will depend on fuel price per gallon and fuel burn

What are the Data Costs for a Light Jet?

Another variable cost to budget for is Wi-Fi (airborne Internet). This cost will vary based on the type of connection, speed, and amount of data used, and where you fly. Maintaining internet connectivity ranges from an air-to-ground system (North America) or a basic satellite system.

There are different installation and rate plan

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options designed to fit the needs of both the passengers and pilots. New installations for an airborne internet system can run anywhere from $150,000+.

Monthly rates based on data used and download speeds can run from $1,000 to $10,000 per month for moderate use, depending on the plan and equipment.

What are the Fixed Costs of a Light Jet?

For Light Jets, fixed costs typically come in the region of $700,000 per year, including the following: • • • • •

Salaries Training Hangar Insurance Refurbishment

Salaries & Training: The pay for pilots ranges from $100,000 to $115,000 per pilot, depending on job duties and level of experience. Pilots will also need training at least annually, and that can cost between $20,000 and $30,000 for two crew members. A third pilot is sometimes hired to help maintain a busy flight schedule.

While many Light Jet owners make use of their FBO and local service center for maintenance, if you choose to employ an aircraft maintenance engineer or technician, you can expect to pay a salary of $80,000+ per year. The engineer/technician can take care of much of the routine maintenance and handle maintenance planning and control.

If the schedule is complex, involving frequent

changes and multiple individuals who can authorize use of the aircraft, a flight scheduler is recommended. Their salary can cost approximately $60,000 per year.

All in, three pilots plus one maintenance engineer (with salaries, benefits and training) will cost $300,000+ annually.

Hangar: For hangar rental, plan on an annual fee between $25,000 and $30,000 in a typical metropolitan area. Higher cost areas, such as New York City, Hong Kong or Geneva, will cost significantly more.

Insurance: For Light Jets, insurance can range between $20,000 and $40,000 depending on the aircraft value and liability limits. If the aircraft spends a lot of time outside of developed countries, those costs may increase substantially.

Refurbishment: Paint and interior refurbishment should also be considered. A new interior and paint job may last from seven to nine years with excellent care. Depending on the level of completion, materials, and extra features, you should budget $250,000 to $400,000 for this work.

What’s the Overall Cost of Owning a Light Jet?

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

The overall cost of owning a Light Jet is approximately $1.45m per year, assuming your operation flies 400 hours annually. This excludes the costs of capital, taxes and depreciation. T

Did you find this article helpful? Check back next month for the concluding part to this series in which we consider what it costs to operate a Turboprop…

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Choosing an Aircraft Registry: What are the Considerations?

There are usually a number of considerations an aircraft owner must make when choosing the right registry to place their aircraft with. What are these, and what level of service should owners expect from the registry they choose? hen selecting a suitable registry for your business aircraft there are several important factors to consider.

These include the quality of services provided, reliability, and availability of the registry.

It’s also important to know that the chosen registry has robust and easily accessible regulations that are ICAO-compliant.

Business aircraft owners and operators want their assets to be safe and retain as much value as possible, so finding a reliable and trustworthy jurisdiction is a priority.

“Owners and operators look for a jurisdiction that is customer service-oriented,” says Alexandria Colindres, CEO of the Registry of Aruba. “While regulations are essential, the end-user’s goal is ultimately to fly their aircraft.

“Many owners are oblivious to how their aircraft is operated, and it is the responsibility of the operator to guide them accordingly,” she adds.

“Therefore, an operator will look for a responsive jurisdiction; they will choose the registry they know will answer the phone at a moment’s notice and provide them with a solution when they suddenly find themselves AOG (aircraft on ground).

“When setting up The Registry of Aruba, we realized there was a gap in the industry and considerable need for a customer-focussed aircraft

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registry that did not compromise on safety,” Colindres continues. “Since day one, our customers were given personal access to everyone in the organization, and we genuinely operate 24/7.”

Guernsey’s 2-REG provides airworthiness certification, private operator certification (POC) and air operator certification (AOC) services. “The fact that we’re able to issue our own POCs and AOCs is a very important aspect for business aircraft owners and operators,” says Michiel Dek, development & safety manager and airworthiness surveyor at 2-REG. “Furthermore, 2-REG accepts aircraft on a type certification basis either from the FAA, EASA, Transport Canada or ANAC (Brazil) which most legacy aviation authorities cannot. We can validate Approved Maintenance Organizations (AMO) and Continuing Airworthiness Management Organizations (CAMO) and issue pilot license validations.

“We have a large pool of surveyors available worldwide, so that we’re capable of acting quickly to registration requests and provide airworthiness and operations oversight activities worldwide in a cost-efficient manner,” Dek continues. “And we apply best practice compliance and anti-money laundering principles to due diligence processes www.AVBUYER.com

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for the acceptance and retention of reputable clientele.

“We fully comply with all requirements related to aircraft registration, airworthiness and air operations.”

According to David Colindres, president, San Marino Aircraft Registry, safety and service are the most important elements when choosing an aircraft registry. His team, comprising “professional, effective and forward-thinking aviation experts” focused on meeting operators’ daily objectives, serves “hundreds high-net worth individuals and multinational companies with their aircraft registration and operations. Our daily mission and focus are to meet and surpass client expectations and to ensure their safety.”

The Importance of Fees and BusinessFriendliness

After the 2008 financial crisis, it was evident that fees played a role in an operator’s decision on where to register an aircraft. “With that said, fees have never been the be-all-end-all, as operators are often willing to pay more for a service if they believe that a particular registry will provide them ease of service,” Alexandria Colindres notes. “This in itself can later translate into considerable cost saving down the line.” www.AVBUYER.com

“Our fees are flexible to meet our customers specific needs,” Dek specifies. “Fees for airworthiness and AOC are mostly based on the maximum take-off mass (MTOM) of the aircraft or heaviest type in case of an AOC. 2-REG’s fees are very much customized to the specific approval sought.”

“Clients and operators will never overpay for our aircraft registry and civil aviation services,” David Colindres assures. “San Marino Civil Aviation and its aircraft registry scheme of fees, combined with our quality service, reputation, fiscal, legal and regulatory framework, results in good value for money.

“Some of the advantages to register an aircraft in San Marino include zero VAT and importation duties, and the fact that registration can be achieved in five-to-seven working days to process registration and issue certificates for operation,” he adds.

“In addition, San Marino aircraft registration eligibility accepts a foreign company as owner of an aircraft and it can qualify to register its aircraft after electing domicile with a representative residing in San Marino.”

According to Dek, even more important than fees are the business-friendliness and reliability of the aircraft registry to Business Aviation customers.

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“Aircraft are expensive and complex assets and therefore appropriate and careful management by the aircraft registry are very important, as well as 24/7 support,” he says.

“A main feature of the 2-REG is that it constitutes a public-private partnership. The Guernsey aircraft registry is run by SGI Aviation Guernsey, branded as ‘2-REG’ to recall the registration mark ‘2’. 2-REG reports to the Guernsey Registrar and Channel Islands DCA (Director of Civil Aviation). All surveys and oversight are conducted by 2-REG on behalf of the Channel Islands DCA.” For an aircraft registry it’s important to be approachable and to have a network that allows to meet the aircraft operator’s needs. “Having a reliable team of regulatory inspectors and registration officers in place, with many accumulated years of experience, is a critical feature that we offer, along with inspectors that are not only knowledgeable but also customerfocussed, Alexandria Colindres notes.

“We are here to help operators comply and ensure the operation is the best it can be, instead of just pointing out all that’s wrong without offering any guidance.”

Why Effectiveness of Registry Oversight Matters

Business Aviation operators should assess the effectiveness of oversight of the registry in consideration of safety and the market appeal of the aircraft when sold.

“This comes down to how well an aircraft will retain its value once it leaves the registry,” Alexandria Colindres says. “When it comes to 60 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

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aircraft resale value, we like to highlight that Aruba is the only jurisdiction worldwide having to have obtained a score of 100% in an aircraft repossession index conducted by Pillsbury’s 2017 Aircraft Repossession Index,” (the uppermost rating when it comes to aircraft repossession and safeguarding the aircraft resale value).

The office of the Director of Civil Aviation (DCA) of the Channel Islands is the statutory body responsible for aviation regulatory oversight for aircraft registered in Guernsey with 2-REG. “All services related to aircraft registration, airworthiness and air operations are provided by 2REG. All oversight is performed by 2-REG itself and is not outsourced to organizations”, says Dek. “Every single (export) certificate of airworthiness and/or permit to fly survey is performed by dedicated 2-REG staff. This way 2-REG has a very good view on the (airworthiness) status of the aircraft on the Guernsey registry. Oversight on operations and air operators is also performed by 2-REG staff, and 2-REG has a dedicated flight operations inspector (FOI) for that purpose.”

All approvals and certificates issued by 2-REG are ICAO compliant and therefore accepted by other aviation authorities. “The aircraft in our registry have been imported from, and exported to, the major aviation jurisdictions in the world,” Dek adds.

“Guernsey aircraft flying on an AOC or POC operate in all areas of the world. Because 2-REG is well known and highly respected this positively impacts the market appeal of aircraft registered with 2-REG when they’re sold.”

The San Marino Aircraft Registry assigns an exclusive registration and licensing officer, a flight

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“Business aircraft owners and operators want their assets to be safe and retain as much value as possible, so finding a reliable and trustworthy jurisdiction is a priority.” operation inspector and an airworthiness inspector from the inception of aircraft registration. “Our team members are dedicated to providing guidance, answering concerns or queries, and providing solutions suited to the intended operation”, says David Colindres.

“We have a network of inspectors strategically placed around the world which allows us to have oversight and surveillance of our aircraft and operators. In addition, we deliver fast and on-time service for AOG and/or regular needs. And in July 2016, ICAO awarded us with the Presidential Award for our compliance with ICAO standards and results show that we are in the Top 20 CAAs of the World.”

Building an International Reputation Through Registration

While it may not appear so, the aviation industry is relatively small, and word of mouth is often the gold standard for an aircraft registry to build an international reputation.

“A good recommendation from a reputable operator can truly launch an organization,” Alexandria Colindres shares. “Operators talk amongst themselves and a colleague’s opinion of a registry is highly valued when an operator is choosing between several jurisdictions.

“A successful registry needs to remain consistent to its core values of safety and services, innovating and changing with the industry. The moment a registry becomes idle, it is no longer a player within the market.”

Since its launch in December 2013, almost 600 62 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

aircraft have been registered with 2-REG, primarily large aircraft, business jet and off-lease airliners.

“Before 2-REG was allowed by the UK Department for Transport to issue AOCs, it had to prove it could operate an aircraft registry first, and comply with all safety and regulatory requirements,” says Dek. “In 2016 the required law changes were implemented and made 2-REG able to issue its first AOC in May 2016. To date, several business jets have been registered with 2-REG and five AOCs are active.

“When managing the 2-REG aircraft registry it’s all about safety and regulatory compliance combined with a business-friendly attitude. This has led us to be highly respected and recognised throughout the aviation industry”.

It was in 2012 that the Government of San Marino created a public private partnership with Aviation Registry Group (ARG) to develop the San Marino Aircraft Registry (SMAR). “Within four years of executing the agreement we were audited by ICAO and scored above 90% of effective implementation (EI) with ICAO standards”, says David Colindres.

“Our organization aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers. Flying continues to be of great importance to modernday life and getting on an aircraft must be among the safest activities that one can do.

“With that in mind, we cooperate with ICAO, and any other reputable civil aviation authority to raise standards and implement best practices.” T www.AVBUYER.com

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San Marino advertorial April.qxp_Layout 1 19/03/2020 15:42 Page 1

ADVERTORIAL

SAN MARINO: THE GO-TO REGISTRY FOR SECURING LENDER’S INTEREST The San Marino Aircraft Registry (the “Registry”) is the aircraft registry held by the Civil Aviation Authority (CAA) of the Republic of San Marino (“San Marino”).

San Marino is the world’s oldest sovereign state and constitutional republic (founded in 301 AD). San Marino is an enclave micro-state of 61 km2 entirely surrounded by Italy with a population of almost 35,000.

The Registry has been operating as a reputable aircraft registry since 2012. Together with the CAA it has achieved an outstanding safety record for its San Marino registered aircraft based on effective implementation of ICAO standards and observance of its oversight responsibilities.

San Marino has become the registry of choice for many management companies of private jets operating privately or commercially, financiers and leasing companies by ensuring a broad range of qualified services and offering all the key elements of a “First-Class Jurisdiction” for aircraft registration, such as: ➢ a highly developed legal and regulatory framework with consistent implementation by the authorities; ➢ a safe and stable political environment; ➢ favourable tax and custom regime; ➢ competitive scheme of charges for certification, licensing and validation; ➢ certainty on the perfection and enforcement of contractual rights and securities; ➢ competent and experienced support from the Aircraft Registry officers and CAA technical experts and inspectors.

The Registry is an owner registry, meaning that aircraft are registered in the name of the owner. There are no restrictions in terms of eligibility for registration, thus aircraft can also be owned by foreign individuals, companies and trusts subject to the election of an address for service in San Marino (serving as a primary point of contract with the Registry). Foreign owners can also benefit from a full VAT exemption with no customs duties on the importation of aircraft in the country.

In light of this ownership structure flexibility and a tax neutral environment, San Marino has become a preferred jurisdiction for international asset financing transactions.

Furthermore, San Marino recognizes the strategic importance of financial services for the development of the aviation sector in terms of both commercial and general aviation operations.

THE CAPE TOWN TREATY The Cape Town Treaty was signed by 53 countries on November 16, 2001 and entered into force on March 1, 2006. As of 2018, this treaty has been ratified by 79 contracting states and the European Union.

The Cape Town Treaty’s primary goals are to facilitate aircraft transactions by: • Creating a common set of rules that are recognized by each contracting state regarding the creation and priority of specified types of interests in Aircraft Objects (as defined below).

• Establishing the International Registry for recording those interests, which ensures a system of priority of interests and notice to third parties.

64 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

• Providing certain remedies to creditors in default and insolvency scenarios, which gives more certainty to creditors providing financing for Aircraft Objects as to their ability to recover in these scenarios.

In 2015 San Marino ratified the 2001 Cape Town Convention and the related Aircraft Protocol (“CTC”) in order to protect the interests of aircraft lenders and lessors with the highest degree of security. The application of the CTC reduces risks generally associated with cross-border aircraft finance transactions, by preserving conventional priorities through an internationally recognized electronic registration system that gives notice to third parties and allows creditors to enforce their rights and remedies in the event of a debtor’s default or insolvency. In particular, San Marino has implemented the CTC with the aim to confirm its reputation as a 100% reliable jurisdiction for financiers. This objective has been achieved by recognizing all the CTC default remedies in favour of mortgagees under security contracts, lessors pursuant to lease agreements and conditional sellers under title reservation arrangements (including repossession of aircraft; sale of assets and allocation of relevant proceeds; entering into leases with third parties; receipt of incomes arising from aircraft use). Moreover, deregistration, export and physical transfer of aircraft to another country are available instruments in San Marino, under the condition that an irrevocable de-registration and export request authorization (IDERA) is timely filed with the Registry.

At the same time San Marino has implemented the CTC by way of specific declarations setting up a system of rules that allow the recognition and enforcement of contractual rights to the maximum extent possible. Among the others: ➢ the possibility to take default remedies without requiring a court proceeding (so called “self-help” remedies); ➢ the right for the parties to freely choose the governing law of the contract under which a CTC international interest is created; ➢ in case of a debtor’s insolvency, the right to obtain the return of an aircraft in a term not exceeding 60 days; In parallel, San Marino has also developed a primary legislation aimed to guarantee to the creditors the most effective default remedies and registration procedures, in line with those established under the CTC. Namely, Law no. 125/2014 (as amended and supplemented from time to time) provides that a mortgage validly registered with the Registry may entitle the mortgagee to adopt the following default remedies without a court proceeding: ➢ to take possession of the mortgaged aircraft even if it is held by third parties; ➢ to sell the mortgaged aircraft (any excess revenue shall be paid to the mortgagor); ➢ to carry out all required actions for the aircraft maintenance and airworthiness status; ➢ to lease the aircraft in order to set-off the relevant profits against the mortgagee’s credits; ➢ to collect incomes generated from the management and/or charter of the aircraft; ➢ to transfer the aircraft title to the mortgagee in order to settle the overdue amounts; ➢ to de-register and export abroad the aircraft by submitting an IDERA.

www.AVBUYER.com

San Marino advertorial April.qxp_Layout 1 19/03/2020 15:42 Page 2

ADVERTORIAL

Moreover, it is worth mentioning that mortgaged aircraft cannot be de-registered from the Registry without the prior written consent of the secured parties, as well as that such parties are granted the option to file Priority Notices with the Registry in view of the prospective entry into aircraft finance transactions.

With respect to aircraft leases registered with the Registry, in case of lessee’s default the lessor shall be entitled to terminate the contract and to take possession or control of the leased aircraft, likewise on a “self-help” basis and – therefore – with no need to start a legal action to achieve these targets.

In summary, all the mentioned high regulatory standards, recognition of legal rights and enforcement measures makes San Marino the go-to registry for securing and protecting, at the very best, the lenders’ interests. This statement is also confirmed by the constantly increasing demand of the Registry services by the international financial community, with the major banks and leasing companies from the most developed countries in the industry sector (e.g. United States, China, Switzerland, Ireland) that are choosing San Marino in the context of cross-border aircraft financing deals.

Via Consiglio dei Sessanta, 99

47891 Dogana, Repubblica di San Marino

Tel: +378 (0549) 941539 General Inquiries please reach us at: info@smar.aero

www.smar.aero www.AVBUYER.com

AVBUYER MAGAZINE Vol 24 Issue 4 2020

65

Ownership 3.qxp_Finance 17/03/2020 17:55 Page 1

OWNERSHIP

Expensive Aircraft Title Mistakes to Avoid

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

66 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

www.AVBUYER.com

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Ownership 3.qxp_Finance 18/03/2020 18:27 Page 2

AVBUYER.com

O

If you ignore an aircraft title search and pocket the savings, what’s the worst that can happen? Quite a lot, according to Dave Higdon’s recent conversations with some of the leading aircraft title companies… t often baffles industry experts why anyone considering a multi-million-dollar business aircraft investment would also consider taking shortcuts to save money.

Nevertheless, there are some who do – even trying to avoid the title search which typically accompanies the purchase of a business aircraft.

Purchasing a business aircraft without all information on its history puts the owner at risk of being unable to use the aircraft because, on paper, the aircraft’s ultimate ownership remains in question.

The title search is designed to protect both the buyer and seller from the prospect of a lien filed against the airplane, and to assure the aircraft title carries no encumbrances that could cloud title transfer or prevent a buyer from securing financing.

It’s a process that is worth its weight in gold.

According to the aircraft title experts polled for this article, clearing a clouded title requires energy, time and resources – meaning expertise and money. “A messed-up title may be a deal breaker,” one closing agent explained. “Sometimes the issues are too much for the buyer, sometimes for the lender, and occasionally for both.”

I

Don’t Ignore the Issues

“The worst thing a buyer can do is ignore the issues and plow ahead with the acquisition without resolving the clouds,” the agent explained. While it won’t be possible to get financing for an aircraft with a clouded title, those who may believe they can proceed with the purchase, regardless, are those with the cash to buy.

“Those are always the people who are surprised to learn they may have problems selling the airplane eventually – all because they ignored the problems when they bought it.”

Herein are the top tips from two highly regarded aircraft title service providers…

The Impact of Clouded Titles

To many a first-time aircraft buyer the costs and time involved in an aircraft title search can seem like an unnecessary interruption in a process the buyers expected to proceed more like an automobile purchase, according to Oklahoma Citywww.AVBUYER.com

based Wright Brothers Aircraft Title.

Though there are commonalities between buying a car and an aircraft, the aircraft transaction has more in common with buying a home or other real estate. The title search that some buyers may feel is wasting their time and money is the main step to protect the investment in that aircraft.

There exist many circumstances capable of clouding aircraft titles. For the current owner, any break in the chain of title risks creates complications and difficulties when trying to buy, sell, register or de-register their airplane.

By overlooking or ignoring the problems causing the clouded title the old owner can pass on the same problems and questions to new owners who essentially inherit what the past owner had failed to resolve.

Things can get worse than raising mere questions of legal ownership. While some new owners may be satisfied with letting the problem go unresolved, banks and financial companies typically balk at financing an aircraft without a clear title.

The smart money understands the potential problems with title defects and the problems they can create so that those issues can be addressed before closing. But clouded title issues are far from the only potential speed bumps on the drive to closing.

Beware of Liens

According to Wright Brothers Aircraft Title, an aircraft title can only be clear if it’s properly signed and recorded, with no unreleased chattel mortgages, security agreements, tax liens, mechanics’ liens, or similar items on record against the aircraft.

And, according to AIC Title Service, among the most common aircraft title issues encountered are old, unreleased security agreements or liens against the title. Such liens could be decades old.

With the passage of time, locating the parties involved in placing the lien on the aircraft can be difficult, particularly when you consider how banks and finance companies have merged over the decades, changed hands, relocated or failed – all of which can leave a smear on the aircraft’s title

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Ownership 3.qxp_Finance 17/03/2020 17:58 Page 3

OWNERSHIP

AVBUYER.com

And, according to AIC Title Service, among the most common aircraft title issues encountered are old, unreleased security agreements or liens against the title. that is difficult to remove.

A lien is classified as “non-consensual”, meaning that it’s been placed by a party to which the aircraft owner owes money (such as the invoice for an annual or pre-purchase inspection). The party placing the lien needn’t obtain consent from the aircraft owner – but the owner of record needs the lien holder's consent to facilitate removal of that lien.

Here's where some buyers, frustrated by the process or the inability to find an involved party, may decide to proceed without taking the steps needed to resolve the security agreement or terminate the lien.

Of course, that buyer is again most likely to be a cash buyer. Once more, ignoring the issues can cause difficulty completing the next sale.

What are the Other Issues of Concern?

Brokers and dealers frequently counsel would-be buyers to avoid any surprises in the transaction process by having the existing title – on file with the FAA in Oklahoma City – thoroughly examined before signing a purchase agreement and writing a check for the earnest money.

Following are some of the other ways title clouds can arise: An error in documents can cloud a title. That error could be as minor as a missing or incorrect signature, inconsistent owner information on a bill of sale, or use of a title not recognized by the FAA. Perhaps a break in ownership occurred by a missing bill of sale, dates being inconsistent with the aircraft's history, or a transposed character in the registration document.

68 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

As one closing agent told AvBuyer, “There's a lengthy list of potential title issues – a list long enough to vex even the most experienced examiners. Even at a company of experts in aircraft titles we come across issues none of us have ever seen before.”

Don’t Overlook the Title Insurance

Just as important as the title search is the title insurance made available in parallel with titlesearch and clear-title services. When a bank or other entity finances an aircraft acquisition, the finance firm typically requires both a clean title – established by the title search – and title insurance.

That insurance step is one that some buyers are tempted to skip to save money – a bad idea, according to Frank Keating of AvSure Title Insurance. In the past, aircraft transactions went through the process of obtaining the opinion of an attorney that the transaction was valid and secure.

With a lawyer’s opinion, Keating notes, any problems discovered are on the attorney or the attorney's firm, and if any of them are insolvent, you're insolvent.

“With insurance,” Keating notes, “you have a party who has to pay – it's more secure, backed by reserves. The thing we have to remember is that virtually all of us have title insurance on our homes and it's a must on commercial properties.

“You certainly should have title insurance on your aircraft,” he concludes. T www.AVBUYER.com

Jetbrokers April.qxp_Layout 1 16/03/2020 14:10 Page 1

AvSure.qxp_Finance 18/03/2020 16:37 Page 1

SPONSORED CONTENT

Why Buy Title Insurance for your Aircraft?

Buying an aircraft is complicated, but the goal is clear. At closing, you want to be confident you have clear title to your aircraft. Any used aircraft will have a history... a title history.

A

simple search of the FAA record may reveal a clear title, but this does not mean your aircraft actually is or will always be free and clear of liens. Not all liens are filed with the FAA. Federal tax liens, for example, are never filed with the FAA.

Liens that are filed during the gap period of your initial ownership also would not show in a simple search of the FAA record. What if one of the documents filed and then recorded by the FAA is fraudulent? Who is responsible? If you want more confidence at closing, consider a policy of title insurance. Here are three examples of how title insurance comes into play.

The Case of the Unfiled Mechanic’s Lien Imagine an aircraft mechanic handling repairs for the seller on the aircraft you are about to purchase. For some reason, he never gets paid, and you have already closed on the aircraft. It is not until you are in the middle of reselling the aircraft that you see the mechanics lien on your new title report.

This is a valid lien which was filed between the time your ownership documents were filed and recorded with the FAA. The mechanic will not release the lien until they get paid. Unless you hire an attorney (which is expensive), you will have to pay the mechanic out of your own pocket, or worse, the mechanic could legally take possession of your aircraft.

If you have title insurance, any legal defense would be provided or paid for. If the aircraft were lost to a superior title, title insurance would pay for the loss.

70 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

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AvSure.qxp_Finance 19/03/2020 16:39 Page 2

SPONSORED CONTENT

The Case of the State Tax Lien

The Case of the Forged Signature

In January 2019, The Tennessee Department of Revenue filed with the FAA a Notice of State Tax Lien in the amount of $16,119.70 for non-payment by an individual taxpayer. Years earlier, the aircraft was registered to the individual taxpayer’s company, and since then, passed through two different owners.

In 2015, a buyer purchased an aircraft and elected not to buy a title insurance policy that was offered at closing. A policy would have cost $1,071.

Because the individual taxpayer was never actually the registered owner, the FAA could not record the lien.

Unfortunately, any tax lien (even one that is not recorded) will scare away any prospective buyer or lender.

Luckily, the owner of the aircraft had purchased a title insurance policy from Avsure when they purchased the aircraft in 2014.

AvSure’s claims representative notified The Tennessee Department of Revenue that the taxpayer was never at any time a registered owner of the aircraft, that the lien was an improper cloud on the title, and that it was tying up the insured’s sale of the aircraft. A proposed Disclaimer was sent to the lien claimant with a demand for release.

When the lien claimant refused to release the lien, AvSure referred the matter to outside litigation counsel.

The Tennessee Department of Revenue changed its position and executed AvSure’s disclaimer when served a proposed copy of the lawsuit by outside counsel.

www.AVBUYER.com

When the owner decided to sell the aircraft in 2019, the initial title report revealed a shocking surprise. In 2018, a Bill of Sale was illegally filed with the FAA (the client’s signature was forged), and three days later, the aircraft was deregistered to Mexico.

Although the aircraft was sitting safely in its hangar in California, the owner no longer held title to the aircraft.

Countless hours and tens of thousands of dollars were spent over the next year working to reclaim title. If the buyer had elected to purchase a title insurance policy when the aircraft was initially purchased, so many headaches could have been avoided.

The Bottom Line Give title insurance serious consideration when you buy an aircraft. It is the only product on the market able to protect both owners and lenders from losses related to a failure of title.

Title insurance can be bought at closing, or at any time before a claim is made.

Call 405-948-1811, or toll free 800-288-2519, for a quote.

AVBUYER MAGAZINE Vol 24 Issue 4 2020

71

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AirCompAnalysisFEB20.qxp_ACAn 18/03/2020 17:19 Page 1

TURBOPROP COMPARISON

PIPER M600

Turboprop Comparison: Piper M600 vs Daher TBM 910 How do the Piper M600 and Daher’s TBM 910 compare? What are the advantages offered by each model? Mike Chase analyses the performance of these two single-engine turboprop market competitors. ver the following paragraphs we’ll consider key productivity parameters for the Piper M600 and Daher TBM 910 (including payload, range, speed and cabin size), to establish which provides the better value in the single-engine turboprop market.

O

Piper M600

Receiving FAA certification on June 18, 2016, the M600 forms part of Piper’s new M-class series of airplanes (incorporating the M350, M500 and M600). These are all based on the original PA-46 Malibu.

While using the same fuselage as the other PA-46 models, the M600 incorporates an all-new wing design that allows for carriage of an additional 90 gallons of fuel. Powered by a single turboprop engine, the M600 has capacity for one pilot and up to five passengers.

74 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

The M600 offers a pressurized cabin to a maximum altitude of 30,000ft, and is equipped with the Garmin G3000 touchscreen avionics suite. Beginning in 2020, Piper will offer a Garmin emergency autoland system.

Daher TBM 910

The TBM 910 very fast single-engine turboprop began operation in 2017 and provides the range, performance and technical features that contributed to the success of the TBM 900. It features a Garmin G1000 NXi avionics system with a physical keypad.

Offering the capacity for one pilot and up to six passengers, the cabin is pressurized to a maximum certified altitude of 31,000ft. As an added feature, the TBM 910 can accommodate the ‘Elite Privacy’ compartment which is a quick-change option that integrates a lavatory area in the aircraft’s aft fuselage. www.AVBUYER.com

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AirCompAnalysisFEB20.qxp_ACAn 18/03/2020 15:50 Page 2

www.AVBUYER.com HOW MANY

EXECUTIVE

SEATS

PIPER M600

(Manufactured between 2016-Present)

4

$3.189 Million (2019 Model)

vs.

DAHER TBM 910

4

$4.070 Million

(Manufactured between 2017-Present)

(2019 Model)

WHICH OF THESE TURBOPROPS WILL COME OUT ON TOP HOW MUCH

RUNWAY

1,406

Piper M600

DO I NEED?

1,514

Daher TBM 910

(Landing Distance ft)

0

500

1000

HOW FAR

PAYLOAD CAN WE TAKE?

Full Fuel with Available Payload 1,406

Daher TBM 910

1,514

1500

Piper M600

(Lbs)

1,000 1,203

Daher TBM 910

HOW MANY

HOW MANY

OPERATION?

EACH MONTH?

UNITS IN

NEW/USED SOLD

2500

LONG RANGE CRUISING SPEED? Piper M600

(Knots)

184 252

Daher TBM 910

WHAT’S THE

COST PER HOUR?

<1 (4.6%)

44

4 (16%)

106

12-Month Average Figure

(% = Global Fleet For Sale)

Sources used: Conklin & de Decker, JETNET, B&CA, Vref and Chase & Associates.

www.AVBUYER.com

2000

WHAT’S THE

HOW MUCH

CAN WE GO?

Piper M600

5,920

Piper M600 Daher TBM 910

$746 $949

 AVBUYER MAGAZINE Vol 24 Issue 4 2020

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AirCompAnalysisFEB20.qxp_ACAn 18/03/2020 15:54 Page 3

TURBOPROP COMPARISON

AVBUYER.com

Table A - Payload & Range Comparison

Piper M600 and Daher TBM 910 Fleet Data

Piper M600 TBM 910

6,000

7,394

1,742

2,017

Max Fuel (lb)

MTOW (lb) Source: OEMs, B&CA

1,000

1,203

Max Payload (lb)

458

584

Avail Payload w/Max Fuel (lb)

1,406

Chart A - Cabin Comparison Piper M600

1,514

Full Fuel with Avail Payload Range (nm)

1,312 1,334 1,334

Daher TBM 910

T

According to JETNET, as of January 2020, there were 106 Piper M600 business turboprops in operation. Almost all (100) were wholly owned, with six being in shared ownership. North America was home to the largest fleet percentage (88%), followed by Europe (11%). Together, they accounted for 99% of the total fleet in operation.

By comparison, there were 44 DaherSocata TBM 910 business turboprops in operation, of which 42 were wholly owned and two in shared ownership. In January 2020, North America accounted for 71% of the TBM 910 fleet, followed by Europe (29%). Together, they accounted for the entire fleet of TBM 910s, according to JETNET data.

Payload & Range Comparison

As we have established in previous articles, a potential operator should focus on payload capability as a key factor in selecting the right aircraft for their need.

Table A (top left) shows the Piper M600’s ‘Available Payload with Maximum Fuel’ is 458lbs., which is less than the 584lbs. offered by TBM 910.

Cabin Comparison

Source: UPCAST JETBOOK

Chart B - Range Comparison Piper M600 Daher TBM 910

1,406 (nm) Full fuel 1,514 (nm) Full fuel

Chart A (left) shows the UPCAST JETBOOK cabin cross-section comparison for the Piper M600 and the Daher TBM 910. The M600 offers slightly more cabin width but less cabin height when compared to the Daher TBM 910.

Note: Both aircraft offer a flat cabin floor.

Not depicted in the chart, the M600 has more cabin length (12.33ft vs 10ft) compared to the TBM 910, and provides more overall cabin volume (165cu.ft versus 143cu.ft).

The Piper M600 doesn’t offer any external baggage capacity but does provide 20cu.ft. internal space. By comparison, the Daher TBM 910 offers 30cu.ft internally, and 5.9cu.ft. externally.

Range Comparison

Source: Chase & Associates

76 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

As depicted in Chart B (left) using TarbesLourdes-Pyrénées Airport, France as the origin point, the Daher TBM 910 (1,514nm) shows more range coverage than the Piper M600 (1,406nm) when fully fueled and carrying available payload.

For business turboprops, ‘Full Fuel with Available Payload Range’ represents the maximum IFR range of the aircraft at long range cruise with NBAA IFR fuel reserve calculation is for a 100nm alternate. This range does not include winds aloft or any other weather-related obstacles.



www.AVBUYER.com

7

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AirCompAnalysisFEB20.qxp_ACAn 18/03/2020 15:58 Page 4

TURBOPROP COMPARISON

AVBUYER.com

Powerplant Details

Chart C – Variable Cost Comparison

Piper M600

The Piper M600 is powered by a Pratt & Whitney Canada PT6A-42A engine with 600shp. By comparison, the Daher TBM 910 utilizes an 850shp PT6A-66D engine.

Total Variable Cost Comparison

$746

Daher TBM 910

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

These costs do not represent a direct source into every flight department and their trip support expenses. For comparative purposes, the costs presented are the relative differences, not the actual differences since these vary from one flight department to another.

The Total Variable Cost for the TBM 910 computes at $949/hour compared to the Piper M600 at $746/hour.

For business turboprops, ‘Full Fuel with Available Payload Range’ represents the maximum IFR range of the aircraft at long range cruise with NBAA IFR fuel reserve calculation is for a 100nm alternate. This range does not include winds aloft or any other weather-related obstacles.

$949 $500

$0

T

$1,000

US $ per hour

Table B - Market Comparison

Piper M600 TBM 910

Aircraft Comparison Table 184

252

Long Range Cruise Speed (Kts)

165

143

Cabin Volume Cu Ft

1,406 1,514

$3.189 $4.070

Full Fuel w/Avail Payload IFR Range (nm)

New 2019 B&CA Price $USm

106

16%

44

4.6%

% For Sale

In Operation

<1

4

Average Sold per Month*

*Average Full Sale Transactions in the past 12 months, as of Jan 2020; Source: JETNET Data courtesy of BC&A; JETNET

Table C - Part 91 & 135 MACRS Schedule

Depreciation Schedule

MACRS Schedule for PART 91 Year Deduction

1

2

3

4

5

6

20.0%

32.0%

19.20%

11.52%

11.52%

5.76%

MACRS Schedule for PART 135 Year Deduction

1

2

3

4

5

6

7

8

14.29%

24.49%

17.49%

12.49%

8.93%

8.92%

8.93%

4.46%

Source: NBAA

78 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

Table B (left) contains the new 2019 prices, the long-range cruise speed and range (per B&CA) for the Piper M600 and TBM 910.

Cabin volumes, the number of aircraft inoperation, the fleet percentage for sale, and the monthly average sold are as reported by JETNET. The TBM 910 fleet had 4.6% of its fleet for sale as of the end of January 2020, while the Piper M600 had 16% for sale. The average number of new and used transactions (sold) per month was less than one for the TBM 910 and four for the Piper M600 over the preceding 12 months.

Aircraft that are owned and operated by businesses are often depreciable for income tax purposes under the Modified Accelerated Cost Recovery System (MACRS).

Under MACRS, taxpayers can use accelerated depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period (see Table C, left).

In certain cases, aircraft may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS), based on a straight-line method that means equal deductions are taken during each year of the applicable recovery period. In most www.AVBUYER.com



8

Leading Edge 7 to view April.qxp_Layout 1 18/03/2020 15:45 Page 1

2009 Gulfstream G450 s/n 4171

2009 Hawker 900XP s/n HA-108

16 Pax Fwd. Galley, Engines on RRCC Enhanced, APU on MSP Gold, One Owner Since New, Hangered at Witham Field (SUA) in Stuart, FL

2,400 Hours TT, Engines & APU on MSP Gold, Immaculate Paint & Interior by Duncan Aviation June 2017, GoGo AVANCE L5 Wi-Fi, WAAS/LPV

2012 Gulfstream G150 s/n 300

2018 Gulfstream G500 s/n 72014

One Owner Since New, 2,146 Hours 1,081 Landings, Engines on JSSI (100% Coverage), APU on JSSI

U.S. Registered, Engines on P&WC PurePower Premium, APU on MSP Gold, Recent Price Reduction

2011 Gulfstream G550 s/n 5312

2007 Citation CJ2+ s/n 370

Engines on RRCC, APU on MSP Gold, 14 Pax Aft Galley Universal Floorplan w/ Fwd Crew Rest Area

Low Time – 1,535 Hours TT, Collins Pro Line 21, Two U.S. Owner Pilots Since New, Looks Like New

2013 Gulfstream G280 s/n 2013

Hallmark 10 Pax Configuration, Engines & APU on MSP Gold, GoGo ATG-5000 WiFi, ADS-B Out v2 and TCASS-II w/ Change 7.1

Leading Edge Aviation Solutions is one of the world’s premier private aviation brokers/dealers with 850+ aircraft transactions, 50+ years of experience & over $10 billion in aircraft transactions. Not just aircraft brokers, they offer a deep suite of service that can be employed long before and long after any aircraft transactions are contemplated.

AirCompAnalysisFEB20.qxp_ACAn 18/03/2020 15:58 Page 5

TURBOPROP COMPARISON

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 purposes, such as Part 91 business use flights, are generally depreciated under MACRS over a period of five years or by using ADS with a six-year recovery period.

There are certain uses of the aircraft, such as non-business flights, that may have an impact on the allowable depreciation deduction available in any given year.

The US enacted the 2017 Tax Cuts & Jobs Act into law on December 22, 2017. Under the new Act, taxpayers may be able to deduct up to 100 percent of the cost of a new or pre-owned aircraft purchased after September 27, 2017 and placed in service before January 1, 2023.

This 100% expensing provision is a huge bonus for aircraft owners and operators.

After December 31, 2022 the Act decreases the percentage available each year by 20% to depreciate qualified business jets until December 31, 2026.

Table D (right) depicts an example of using the MACRS schedule for a 2019-model Piper M600 both in private (Part 91) and charter (Part 135) operations over five- and seven-year periods.

Table E (right) depicts an example of using the MACRS schedule for a 2019-model Daher TBM 910 both in private (Part 91) and

AVBUYER.com

T

Table D - Piper M600 MACRS Depreciation Schedule 2019 Piper M600 - Private (Part 91) Full Retail Price - Million $3.189 1

Year

Rate (%)

20.0%

2

32.0%

3

19.2%

4

5

11.5%

6

11.5%

5.8%

Depreciation ($M)

$0.638

$1.020

$0.612

$0.367

$0.367

$0.184

Cum. Depreciation ($M)

$0.638

$1.658

$2.271

$2.638

$3.005

$3.189

Depreciation Value ($M)

$2.551

$1.531

$0.918

$0.551

$0.184

$0.000

2019 Piper M600 - Charter (Part 135) Full Retail Price - Million $3.189 1

Year

Rate (%)

14.3%

2

24.5%

3

17.5%

4

12.5%

5

6

8.9%

8.9%

7

8.9%

8

4.5%

Depreciation ($M)

$0.456

$0.781

$0.558

$0.398

$0.285

$0.284

$0.285

$0.142

Cum. Depreciation ($M)

$0.456

$1.237

$1.794

$2.193

$2.478

$2.762

$3.047

$3.189

Depreciation Value ($M)

$2.733

$1.952

$1.395

$0.996

$0.711

$0.427

$0.142

$0.000

Source: Vref

Table E - Daher TBM 910 MACRS Depreciation Schedule 2019 Daher TBM 910 - Private (Part 91) Full Retail Price - Million $4.070 Year

Rate (%)

1

20.0%

2

32.0%

3

19.2%

4

11.5%

5

11.5%

6

5.8%

Depreciation ($M)

$0.814

$1.302

$0.781

$0.469

$0.469

$0.234

Cum. Depreciation ($M)

$0.814

S2.116

$2.898

$3.367

$3.836

$4.070

Depreciation Value ($M)

$3.256

$1.954

$1.172

$0.703

$0.234

$0.000

2019 Daher TBM 910 - Charter (Part 135) Full Retail Price - Million $4.070 Year

Rate (%)

14.3%

2

24.5%

3

17.5%

4

12.5%

5

8.9%

6

8.9%

7

8.9%

8

4.5%

Depreciation ($M)

$0.582

$0.997

$0.712

$0.508

$0.363

$0.363

$0.363

$0.182

Cum. Depreciation ($M)

$0.582

$1.578

$2.290

$2.799

$3.162

$3.525

$3.888

$4.070

Depreciation Value ($M)

ď&#x20AC;š

1

$3.488

$2.492

$1.780

$1.271

$0.908

$0.545

$0.182

$0.000

Source: Vref

Daher TBM 910

80 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

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Elliott Jets April.qxp_Layout 1 16/03/2020 14:15 Page 1

AirCompAnalysisFEB20.qxp_ACAn 18/03/2020 15:59 Page 6

TURBOPROP COMPARISON

AVBUYER.com

Chart D - Productivity Comparison

charter (Part 135) operations over five- and seven-year periods.

Asking Prices & Quantity

Productivity Comparisons

The points in Chart D (right) center 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. Full Fuel Range (nm) with available payload 2. The long-range cruise speed flown to achieve that range 3. The gross cabin volume available for passengers and amenities

$6.0

Price (Millions)

At the time of writing, the used market for the Piper M600 aircraft showed a total 17 aircraft were for sale. Nine had asking prices ranging between $2.045m to $2.499m. Two Daher TBM 910s were also on the market, but neither listed an asking price.

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

$5.0

Daher TBM 910

$4.0 $3.0

Piper M600

$2.0 $1.0 $0.0 0.000

0.020

0.040

0.060

0.080

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

M600 INTERIOR

Others may choose different parameters, but serious business aircraft buyers are usually impressed with price, range, speed and cabin volume.

A new Piper M600 comes at a lower cost than the TBM 910 and has a lower hourly variable operating cost. It also provides a larger cabin volume.

However, the Daher TBM 910 demonstrates a greater level of productivity here, boasting more range, almost 70kts greater long-range cruise speed and a higher ‘Available Payload with Maximum Fuel’.

In Summary

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

Operators should weigh up their mission requirements precisely, establishing which elements of an aircraft’s performance matter most to them, before picking which option is the best for them.

82 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

Note: The Daher TBM 910 is part of a larger family of aircraft, including the TBM 900, 930 and 940. For the purpose of this comparison, the TBM 910 was both in-production, and a closer price match for the Piper M600. 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 features. Contact Mike via mike@avbuyer.com

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Boutsen April.qxp_Layout 1 18/03/2020 12:56 Page 1

AIRCRAFT OPPORTUNITIES

DEAL PENDING!

2015 LINEAGE 1000E - MSN 632

2012 GLOBAL 5000 - MSN 9468

2011 GULFSTREAM G550 - MSN 5302

DEAL PENDING!

2010 GULFSTREAM G550 - MSN 5284

2017 CHALLENGER 350 - MSN 20670

1995 AVRO RJ70 - MSN E1267

1988 DASSAULT FALCON 50 - MSN 185

1999 SOCATA TBM 700A - MSN 141

2012 AIRBUS EC145 - MSN 9502

PHOTO FILE

PHOTO FILE

2010 Off-Market GULFSTREAM G200

PHOTO FILE

2010 Off-Market DASSAULT FALCON 7X

2008 Off-Market CITATION SOVEREIGN

By Appointment to H.S.H. the Sovereign Prince of Monaco

+377 93 30 80 02

sales@boutsen.com

41, rue Grimaldi

MC-98000 MONACO

www.boutsen.com

Values Intro Dec19.qxp_Finance 18/03/2020 12:12 Page 1

VALUES - TURBOPROPS

AVBUYER.com

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

hile exceptions exist, turboprop airplanes offer a common set of attributes that make them an attractive proposition. The powerplants are responsible for most of this – turboprop engines benefit today from propeller designs that are far more sophisticated than just a decade ago, resulting in lower maintenance costs; longer overhaul cycles; improved climb and cruise performance; and - in turn - reduced noise levels in the cabin.

In addition, specific fuel consumption numbers continue to improve – an attractive attribute given today’s depressed oil prices, with the practical effect of allowing the use of higher power-levels without suffering a proportionate increase in fuel consumption/costs. That, in turn, contributes to improvements in take-off and climb performance and cruise speed.

Another advantage offered by many turboprops is the single-pilot operational simplicity, engineered into even the multi-engine turboprops. The only exceptions to the sum total of these benefits exist among the unpressurized models that are available and form a small, important and dynamic segment of the turboprop market.

W

84 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

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

Turboprop Price Guide

The following Turboprop Retail Price Guide represents current average values published in The Aircraft Bluebook–Price Digest. The study spans model years from 2001 through Spring 2020 (20 year period). Values reported are in US$ millions, with each reporting point representing the current average retail value published in the Bluebook by its corresponding calendar year. For example, the Piper Meridian reported in the Spring 2020 edition of the Bluebook shows US$1.5m for a 2015 model, US$1.4m for a 2014 model, and so forth. Aircraft are listed alphabetically.



Note: For additional assistance and interest, Conklin & de Decker Performance and Specification data for these Turboprops can be referred to, beginning on page 88 of this issue.

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

File photo

Gulfstream 450

Gulfstream 550

Several aircraft available

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2011 Premier 1A

2011 Hawker 900XP

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

1,450 hours. MSP Gold

Gulfstream GIV SP

Gulfstream GV

Several aircraft available

Several aircraft available

2010 Bell 412EP

2005 Airbus EC120B

1996 hours. VVIP interior. Air conditioning.

Aux fuel

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

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

www.aradian.com UK office Tel. +44 1481 233001 Fax.+44 1481 233002 steverogers@aradian.com ALSO IN: Middle East, South Africa, Russia, Kazakhstan, Spain, Germany and India

Retail Values April2020.qxp_RPG 18/03/2020 11:23 Page 1

VALUES - TURBOPROPS

Turboprops: Average Retail Price Guide MODEL YEAR $

2020 US$M

2019 US$M

2018 US$M

2017 US$M

2016 US$M

2015 US$M

2014 US$M

2013 US$M

2012 US$M

6.4

5.0

4.7

4.4

4.1

3.6

3.3

3.1

3.0

5.0

4.5

3.8

3.4

3.2

3.0

2.9

2.8

2.7

2011 US$M

MODEL BEECH KING AIR 350I BEECH KING AIR 350 BEECH KING AIR 250 BEECH KING AIR B200

2.6

BEECH KING AIR B200GT BEECH KING AIR C-90GTX

3.2

2.9

2.6

2.4

2.2

2.1

1.9

CESSNA 208 CAR675 WG1000

2.2

1.8

1.750

1.725

1.7

1.675

1.650

CESSNA 208 GRAND CAR EX

2.4

2.350

2.250

2.2

2.150

2.050

1.950

2.6

2.5

1.850

1.8

BEECH KING AIR C-90GTI BEECH KING AIR C90GT BEECH KING AIR C-90

CESSNA 208 GRAND CAR 675

1.875

1.6

1.550

1.750

1.650

1.750

1.650

CESSNA 208B GRAND CAR CESSNA 208B SCM EX

2.150

2.1

2.0

1.9

1.8

CESSNA SCM 208B CESSNA SUPER CARGOMASTER 208B CESSNA 208B SUPER CARGOMASTER CESSNA 208 CAR-675 PIAGGIO AVANTI - P180

6.1

PILATUS PC-12 NGX

5.353

PILATUS PC-12/47E NG

5.018

5.5

4.7

4.5

4.2

4.0

PIPER M600

2.750

2.3

2.2

2.0

PIPER M500

1.9

1.8

1.7

1.6

4.5

4.0

3.5

3.0

2.7

3.7

3.6

3.5

3.4

1.5

1.4

1.3

1.2

1.150

1.6

1.5

1.4

1.3

1.2

3.1

2.8 2.150

2.050

3.3

PILATUS PC-12/47 PILATUS PC-12/45

PIPER MERIDIAN PA46-500TP QUEST KODIAK 100

2.0

SOCATA TBM 910

3.8

3.6

3.5

SOCATA TBM 930

4.0

3.9

3.7

SOCATA TBM 900

1.9

1.8

1.7

3.4 3.2

SOCATA TBM 850

2.3

SOCATA TBM 700C2/EFIS SOCATA TBM 700C2 SOCATA TBM 700B/EFIS AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM

86 Vol 24 Issue 4 2019 AVBUYER MAGAZINE

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Retail Values April2020.qxp_RPG 18/03/2020 11:24 Page 2

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What your money buys today

Spring 2020 2010 US$M

2009 US$M

2008 US$M

2007 US$M

2006 US$M

2005 US$M

2004 US$M

2003 US$M

2002 US$M

2001 US$M

2.9

MODEL YEAR $ MODEL BEECH KING AIR 350I

2.8

2.7

2.6

2.5

2.4

2.3

2.2

2.1

2.0

BEECH KING AIR 350 BEECH KING AIR 2

2.0 2.5

2.4

1.9

1.8

1.7

1.6

1.550

1.5

2.3

BEECH KING AIR B200GT

1.750

BEECH KING AIR C-90GTX 1.650

1.6

BEECH KING AIR C-90GTI 1.5

1.450

BEECH KING AIR C-90GT 1.3

1.5

BEECH KING AIR B200

1.450

1.250

1.2

1.150

1.1

1.3

BEECH KING AIR C-90 CESSNA 208 CAR 675 WG1000 CESSNA 208 GRAND CAR EX

1.575

1.525

1.4 1.375

CESSNA 208 GRAND CAR 675 1.325

1.250

1.125

1.075

1.050

1.0

0.950

CESSNA 208B GRAND CAR CESSNA 208B SCM EX CESSNA SCM 208B

1.550

2.5

1.5

2.1

1.4

CESSNA SUPER CARGOMASTER

1.350

1.3

1.250

1.2

1.150

1.1

1.050

1.0

CESSNA 208B SUPER CARGOMASTER

1.275

1.225

1.175

1.075

1.050

1.0

0.950

0.9

CESSNA 208 CAR-675

1.8

1.6

1.5

1.450

1.4

1.350

1.250

PIAGGIO AVANTI P180

1.3

PILATUS PC-12 NGX 3.2

3.1

3.0 2.8

PILATUS PC-12/47E NG 2.7

2.6

PILATUS PC-12/47 2.5

2.4

2.3

2.1

2.0

PILATUS PC-12/45 PIPER M600 PIPER M500

1.1

1.075

0.975

0.9

1.1

1.0

0.950

0.9

0.850

0.8

0.725

0.675

0.625

0.575

PIPER MERIDIAN PA46-500TP QUEST KODIAK 100 SOCATA TBM 910 SOCATA TBM 930 SOCATA TBM 900

1.950

1.850

1.750

1.650

1.550 1.450

SOCATA TBM 850 1.350

SOCATA TBM 700C2/EFIS 1.3

1.250

SOCATA TBM 700C2 1.2

1.150

SOCATA TBM 700B/EFIS

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

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AVBUYER MAGAZINE Vol 24 Issue 4 2019

87

ACSpecs Intro.qxp_AC Specs Intronov06 18/03/2020 18:30 Page 1

SPECIFICATIONS - TURBOPROPS

Aircraft Performance & Specifications Turboprops

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 - Turboprops – appears opposite, to be followed by Large Jets next month.

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

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

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

Description of Cost Elements

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

There are no sales taxes included in these costs.

SPECIFICATIONS - GENERAL

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

•

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

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

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

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

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

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

88 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

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Specifications.qxp_PerfspecDecember06 18/03/2020 11:49 Page 1

NUMBER OF ENGINES

218

5

10100

2950

640

250

2

PT6A-21

BEECHCRAFT KING AIR C90SE

4.8

4.5

12.4

218

5

10100

3205

640

250

2

PT6A-21

BEECHCRAFT KING AIR C90GT

4.8

4.5

12.4

218

5

10100

2306

739

270

2

PT6A-135A

BEECHCRAFT KING AIR C90GTi

4.8

4.5

12.4

218

5

10100

2306

-

270

2

PT6A-135A

BEECHCRAFT KING AIR C90GTx

4.8

4.5

12.4

218

5

10485

2143

903

274

2

PT6A-135A

NEXTANT AEROSPACE G90XT

4.8

4.5

12.4

218

5

10500

2143

-

-

2

H80

SMYRNA AIR KING AIR POWER 90

4.8

4.5

12.4

218

5

10100

3160

-

280

2

H80

BEECHCRAFT KING AIR 200 RAISBECK

4.8

4.5

16.7

303

6

12500

1850

858

289

2

PT6A-41

BEECHCRAFT KING AIR B200

4.8

4.5

16.7

303

6

12500

2180

920

290

2

PT6A-42

BEECHCRAFT KING AIR B200GT

4.8

4.5

16.7

303

6

12500

2240

960

305

2

PT6A-52

BEECHCRAFT KING AIR B200 RAISBECK

4.8

4.5

16.7

303

6

12500

2180

858

292

2

PT6A-42

BLACKHAWK KING AIR B200 XP61

4.8

4.5

16.7

303

6

12500

2180

975

311

2

PT6A-61

BEECHCRAFT KING AIR 250

4.8

4.5

16.7

303

7

12500

2170

636

310

2

PT6A-52

BEECHCRAFT KING AIR 350

4.8

4.5

19.2

344

8

15000

2615

1440

320

2

PT6A-60A

BEECHCRAFT KING AIR 350i

4.8

4.5

19.2

344

8

15000

2500

1440

320

2

PT6A-60A

BEECHCRAFT KING AIR 350ER

4.8

4.5

19.2

344

8

16500

2600

1878

303

2

PT6A-60A

BEECHCRAFT KING AIR 350iER

4.8

4.5

19.5

344

8

16500

2415

1635

303

2

PT6A-60A

CESSNA 208 CARAVAN

4.5

5.3

12.75

271

9

8000

2860

325

186

1

PT6A-114A

CESSNA 208 CARAVAN/CARGO POD

4.5

5.3

12.75

271

9

8000

2680

100

186

1

PT6A-114A

BLACKHAWK CARAVAN XP42A

4.5

5.3

16.75

352

9

9062

3650

627

189

1

PT6A-42A

ENGINE MODEL

MAX SPEED (ktas)

12.4

FERRY RANGE-nm (NBAA IFR FUEL RESERVES)

CABIN VOLUME (Cuft)

4.5

MAX PAYLOAD (lbs)

CABIN LENGTH (ft)

4.8

MAX TAKEOFF (lbs)

CABIN WIDTH (ft)

BEECHCRAFT KING AIR C90B

PASS SEATS TYPICAL

CABIN HEIGHT (ft)

AVBUYER.com

ï&#x20AC;¹

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 R VOL 24 Issue 4 2020 R

89

Specifications.qxp_PerfspecDecember06 18/03/2020 11:50 Page 2

PASS SEATS TYPICAL

MAX TAKEOFF (lbs)

MAX PAYLOAD (lbs)

MAX SPEED (ktas)

NUMBER OF ENGINES

5.3

16.75

352

9

8750

3230

529

184

1

PT6A-114A

CESSNA 208B GRAND CARAVAN EX

4.5

5.3

16.75

352

9

8807

3195

494

194

1

PT6A-140

CESSNA 208B GND CARAVAN/CARG POD 4.5

5.3

16.75

352

9

8750

3060

465

186

1

PT6A-114A

CESSNA 208B GRAND CARAVAN EX/CARG POD 4.5

5.3

16.75

352

9

8807

3002

365

185

1

PT6A-140

ENGINE MODEL

CABIN VOLUME (Cuft)

4.5

FERRY RANGE-nm

CABIN LENGTH (ft)

CESSNA 208B GRAND CARAVAN

(NBAA IFR FUEL RESERVES)

CABIN WIDTH (ft)

AVBUYER.com

CABIN HEIGHT (ft)

SPECIFICATIONS - TURBOPROPS

DAHER-SOCATA TBM 700C2

4.1

4

10

143

5

7394

1143

1000

292

1

PT6A-64

DAHER-SOCATA TBM 850

4.1

4

10

143

5

7394

1252

967

320

1

PT6A-66D

DAHER-SOCATA TBM 900

4.1

4

10

143

5

7394

1203

989

324

1

PT6A-66D

DAHER-SOCATA TBM 910

4.1

4.1

10

143

5

7394

1203

989

324

1

PT6A-66D

DAHER-SOCATA TBM 930

4.1

4

10

143

5

7394

1203

989

324

1

PT6A-66D

PACIFIC AEROSPACE P-750 XSTOL

4.7

4.6

13.2

220

10

7500

4200

378

163

1

PT6A-34

PIAGGIO AVANTI P180

5.8

6.1

14.9

393

6

11550

1800

980

390

2

PT6A-66

PIAGGIO AVANTI P180 II

5.8

6.1

14.9

393

6

12100

1300

752

363

2

PT6A-66B

PIAGGIO AVANTI P180 EVO

5.8

6.1

14.9

393

6

12100

1300

752

363

2

PT6A-66B

PILATUS PC-12

4.75

5

16.9

356

7

10450

2475

1340

261

1

PT6A-67B

PILATUS PC-12 NG

4.83

5

16.92

356

7

10450

2257

1309

280

1

PT6A-67P

PIPER M500

3.9

4.2

12.3

164

5

5092

1216

213

260

1

PT6A-42A

PIPER M600

3.92

4.13

12.33

165

4

6000

1120

633

274

1

PT6A-42A

PIPER MERIDIAN PA 46TP

3.9

4.2

12.3

106

5

5092

1187

489

267

1

PT6A-42A

QUEST AIRCRAFT KODIAK

4.5

4.8

15.5

248

5

7255

2515

524

180

1

PT6A-34

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.

90 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

www.AVBUYER.com

T

P091.qxp 18/03/2020 14:25 Page 1

The Regional Aircraft Marketing Specialists Tel. + 44 1753 832088

Library picture. Aircraft will be delivered with fresh white paint

juliet@skyworld.co.uk

88 leather seats

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Honeywell Primus Epic avionics Approx. 1,500 nm range (full payload) Ideal corporate shuttle 88 leather seats One of the most comfortable aircraft of its class

For more information contact Juliet Hewitt - juliet@skyworld.co.uk

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www.AVBUYER.com

AVBUYER MAGAZINE R Vol 24 Issue 4 2020 R

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AVIONICS

What’s the Latest on DataLink in Business Aviation?

What’s the current and future direction of the use of DataLink

in Business Aviation? Ken Elliott provides a comprehensive outline… ataLink is an umbrella term covering the transfer of data via digital means, across aircraft operations, while utilizing all three avionic fields of ‘Communication’, ‘Navigation’ and ‘Surveillance’ (CNS). It’s very important to understand DataLink and there are many misconceptions surrounding the topic.

When you have a reasonably adequate continental coverage of air traffic via ground radar and line of sight communication, using Very High Frequency (VHF) radios, there is no major incentive for business aircraft operators to change.

However, when that same terrestrial coverage is overstretched with voice-based ATC dialogue (as was the case for Europe) there is a demand for change.

Equally, if you have no radar coverage, limited line of sight communication and a desire from operators to fly fuel-efficient tracks, there’s also incentive to find better solutions.

introduced elsewhere, including the US).

The digital VHF became the Air Traffic Network, ATN-Baseline 1 (B1), that uses the subnetwork VHF DataLink (VDL Mode 2) as Controller Pilot DataLink Communications (CPDLC). This eventually evolved into Link 2000+ that is now known as ATN B1-CPDLC and had a deadline for implementation of February 05, 2020.

European DataLink Solution

Note: With FANS we’re dealing with a complete DataLink system that has Data Comm for Satellite and HF communication; Automatic Dependent Surveillance – Contract (ADS-C) for surveillance; and assigned routes and tracks for Performance Based Navigation (PBN).

D

For Europe the solutions were derived after digitizing the existing VHF voice, as well as increasing the number of frequencies available via the now mostly complete 8.33KHz bandwidth changes (also 92 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

Oceanic and Remote Region DataLink Solution

For oceanic and remote regions, the need for improvement was obvious, and both Boeing and Airbus, in cooperation with ICAO and other regulatory groups, developed the Future Air Navigation System (FANS) infrastructure.

These became FANS 1 and FANS A respectively.

Later, under ICAO, they were combined into FANS 1/A and then underwent improvements for reduced latency to become FANS 1/A+.

www.AVBUYER.com

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Avionics 4.qxp_Finance 18/03/2020 14:53 Page 2

AVBUYER.com

A

FIGURE A: Simplified Background of the Initiative for DataLink

Essentially, FANS Oceanic/Remote is truly a CNS system and embraces the equipage of ground, space, aircraft, Air Traffic Control (ATC) and DataLink Service Provider-DSP (or Communication Service Provider) alike.

There have been several phases of North Atlantic Tracks (NATS) FANS with the latest 2C-standard, being implemented by January 2020 and requiring FANS 1/A+ equipage, training, approval and operation in all MNPS airspace above FL290.

The ‘Pacific Organized Track System’ (PACOTS) and ‘Australia Organised Track System (AUSOTS) – Flex Tracks’ are two other examples of highly organized and controlled routing.

The transmit-receive Data Comm side of Oceanic FANS is achieved using either Satellite (Satcom), via Inmarsat or Iridium (FANS Over Iridium – FOI), or using HF DataLink (HFDL).

Surveillance is achieved via ADS-C that requires a handshake (Contract) before data is transferred, whereas ADS-B now fully implemented across several continents, is an open broadcast of aircraft location and performance.

While ADS-B uses a transponder-based system of technology, ADS-C relies on the Satcom. As SpaceBased ADS-B comes on-line, the Satcom based contractual ADS-C will evolve into a worldwide version of open-broadcast ADS-B.

Domestic US DataLink Solution

Meanwhile, FANS 1/A+ Data Comm is being applied in the US for domestic operations. This is not ATN (ATN B1) based and uses VDL Mode 0/A (existing ACARS) or VDL Mode 2.

There are two areas of focus. These are: 1) digital Departure Clearance (DCL), including Pre-Departure Clearance (PDC); and 2) the new digital enroute clearance beginning its implementation currently.

www.AVBUYER.com

FAA Implementations

As of June 2018, DCL via Data Comm was available at 62 US airports, providing text instructions with routing information for equipped aircraft operating under IFR. Initial en route Data Comm services are coming online with an anticipated 20 en route ATC centers providing re-routes at aircraft cruising speeds, messaging and other services to be in service by 2023.

Digital services will reduce emissions and fuel use, while improving airspace efficiency. Improvements will be proportionate to the uptick of users, bearing in mind that the aircraft must be equipped, crew trained, and operation approved.

There are no requirements for Data Comm in US domestic airspace, but without it you will not have the benefits of DCL, and later digital en route clearance. For business jet operators to use Data Comm requires FAA authorization. This varies based on your category of operation: • • •

Part 91 – Letter of Authorization (LOA) not required Part 91 Sub Part K – Management Specifications (M Specs) Part 135 or 121– Operation Specifications (Op Specs)

North Atlantic Tracks (NAT)

In line with Performance Based Navigation Requirements (PBN), Required Navigation (RNP) and Area Navigation (RNAV) characteristics, ICAO has recently introduced two terms, being utilized across NAT tracks: • •

NAT High Level Airspace (HLA) – for its overall Oceanic Tracks Performance Based Communication and Surveillance (PBCS) – Ref ICAO Doc 9869

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AVIONICS

AVBUYER.com

A

TABLE A: North Atlantic Tracks’ Eligibility for the Provision of Performance-based Minima is Based On: Required Navigation Performance (RNP) 10/4

93km (50nm) longitudinal separation

4

✓ ✓

55.5km (30nm) longitudinal separation 5 minutes longitudinal separation

✓ ✓

42.6km (23nm) lateral separation

FANS 1/A CPDLC ADS-C

RCP240

RSP180

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

Courtesy of NATS Ops Bulletin 2018-04 - Effective March 28, 2019

For all PBCS NAT tracks it is necessary to have Required Communication Performance-RCP240 and Required Surveillance Performance-RSP180. Specific PCBS NAT tracks are obtained by using the NAT Organized Track System (OTS) Message. Both the FANS 1/A+ and the corresponding LOA or OpSpecs, enable the authorization to fly these tracks.

So, for Air Traffic Management (ATM) the three CNS sets of requirements are being integrated into a combined set (PBN, as RNP/RNAV, with RCP and RSP).

Flying organized tracks (OTS) in the North Atlantic High-Level Airspace (NAT HLA) at Reduced Lateral Separation Minima (RLatSM) will require FANS 1/A+ satisfying: • • •

RNP 4 CPDLC with RCP 240 ADS-C with RSP 180

New, Evolving, and Future Systems

The FAA and others are, in the long term, implementing ATN Baseline 2 (ATN-B2) to provide for the many additional domestic services required, as the density of traffic increases.

ATN-B2 CM (Context Management) will be based on internet protocols, with a much greater bandwidth, capacity and rate of data transfer capability. Under the SESAR program, Europe is also implementing an ATN Baseline 2 program on a different track to the US. Expect to see similar evolutions under ICAO within other terrestrial regions and again, with differences, for oceanic and remote airspace.

ATN-B2 CM is Expected to Provide for:

CPDLC • Initial Four-Dimensional Trajectory DataLink (4DTRAD) • Dynamic Required Navigation Performance (DRNP) • Advanced flight Interval Management (IM) ADS-C • Extended Projected Profile (EPP) information • Information Exchange and Reporting (IER) • 4DTRAD • DRNP services 94 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

With the introduction of unmanned aircraft and eVTOL (future air taxi), there is the corresponding entry of new terms that apply to DataLink: • • •

C2C – Control to Control V2V – Vehicle to Vehicle C2V – Control to Vehicle

When a pilot is not in the cockpit, there is a much greater reliance on the linkage of control from a remote source. This linkage is not a replacement of voice communication, but an instruction-set for everything the air platform will do, including requiring an external command with closed loop feedback.

The DataLink in this arena is far in advance of the DataLink services being applied to business and commercial aircraft today. However, it is not as regulated and not required to cover the same vast distances as, say, Oceanic FANS. The two DataLinks will eventually merge and contain millions of two-way instruction sets between remote pilot, host aircraft, other aircraft and airspace control.

When reviewing CNS we forget that there is also Connectivity (CNS-C). This is usually reserved to cover cabin communications and entertainment. However, the future will see these merge into one set of DataLink systems with a dedicated passenger feed for unmanned aircraft.

In the near-term, there will be a greater use of internet-based protocols for cockpit to the outside via DataLink, such as with ATN-B2.

Data Comm as Data in Place of Voice

As the name implies, Data Comm supplements voice communication, for non-urgent transmissions between ATC and aircraft, using digital text-based messaging.

Communication between aircraft and ATC has traditionally been through use of the human voice, with all its inconsistency of clarity, due to individualized speech, language and dialect. With voice there are conversion steps of the radio transmission, overlaid with voice modulation, followed by demodulation of the audio to an electro-magnetic earpiece in a headset, as well as the reverse process from a microphone.



www.AVBUYER.com

9

AV I AT I O N

N E W P R O F L I G H T S E R I E S 2 AV I AT I O N H E A D S E T

A 2 0 AV I AT I O N H E A D S E T

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Avionics 4.qxp_Finance 18/03/2020 14:54 Page 4

AVIONICS

AVBUYER.com FIGURE B: The Current FAA Program Services Roadmap re. NextGen, Showing DCL and En Route Services

Courtesy of FAA

Thus, it’s far better if voice communication can be achieved digitally, via a standard language format. For example, a form of digital communication from airlines to schedulers and others has been around for a long time. This provides ‘On, Off, Out and In’ (OOOI), other useful data, and messaging via Aircraft Communications Address and Reporting (ACARS).

The advantages of digital communications, over the use of voice, are as follows: 1. Digital comms can send messages to several aircraft at once 2. If equipped, digital comms will take precedence in aircraft line-up for departure 3. Digital comms provide mitigation of miscommunication 4. Using voice is labor intensive for air traffic controllers and pilots 5. Digital comms provide improved weather reroutes, saving time 6. Digital comms require less time and create less controller distraction 7. Digital comms promise reduction of aircraft delays at busy airports 8. Digital comms preserve frequency bandwidth when voice is not used 9. Digital comms allow for route changes up to takeoff clearance for traffic or weather impacts.

How Does Data Comm Work?

Pilots file flight plans and air traffic controllers deliver clearances and any route changes. Aircraft and ground-based dispatchers receive the data, review and accept instructions.

Pilots see instructions and route information 96 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

(including weather) displayed on their SBAS Flight Management System. This, in turn, creates and updates routes for the aircraft to navigate, from waypoint to waypoint, as legs of the flight. Pilots confirm their routes and initiate their first leg, ready for take-off and climb out.

In the background, ADS-C provides surveillance and other data, based on the contract between the DSP/CSP, the aircraft and the enroute air traffic centers. Although separate, domestic operations use ADS-B to satisfy surveillance requirements, and if only ADS-B Out, will not display other traffic within the host aircraft.

Also, CPDLC messages must be recorded and many legacy aircraft only record voice via their existing Cockpit Voice Recorders (CVR). These usually require an upgrade for most operators considering FANS and ATN compliance.

DataLink Equipage Requirements

Apart from the satellites, air traffic management (ATM) and DSP/CSP infrastructure, the aircraft themselves must be able to connect to the networks being used for routes flown.

As ATN and FANS are separate systems, the aircraft may need to have equipment that works with either.

Sometimes they may have sufficient equipment but not the level of software to satisfy all connection requirements.

Aircraft also need to have redundancy built into their avionics using duplication of ‘black boxes’ or multiple means of establishing links along flight tracks.

An ideal equipment suite will consist of dual SBAS FMS (or third system dedicated for DataLink) and CMS. The CMS can include (or be part of) dual Data



www.AVBUYER.com

9

CUSTOMER SERVICE

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Avionics 4.qxp_Finance 18/03/2020 18:33 Page 5

AVIONICS

AVBUYER.com

Comm VHF, dual HF, either Inmarsat or Iridium Satcom, and CVR system with data capability.

Operators are strongly advised to ensure they remain connected to their avionics shop and DSP/CSP (ARINC, SITA, Satcom Direct or GoDirect) for all the latest developments, since they constantly shift to meet global changes.

Don’t Forget you Need Approval to Operate

Wherever you fly, you’ll need to be approved at some level. It might not require a Letter of Authorization (LOA) or Ops Spec, but you must have equipment approval to add the ICAO codes to your flight plan, indicating your data link capabilities for a route.

LOAs and OpSpecs require pilot training and familiarization with the process. The flight department, as a team, will need to have operating processes in place.

Always see DataLink requirements within the context of your flight department’s overall operations and not in isolation.

Is DataLink Available to all Business Aircraft?

In some form, DataLink is available on most business aircraft, but remember it will be based on the age and utilization of the aircraft.

By default, new aircraft will have adequate DataLink for the types of operations they’re designed for. Older aircraft will need an upgrade, if not already completed, to meet their individual operational needs.

DataLink that may only be in the form of Data Comm (the communication element of CNS) is not mandated like ADS-B Out but is predicated on where and how you need to fly.

In Summary

DataLink, as Data Comm, is all that is needed for many lighter business aircraft flying domestically.

Whether it is FANS-based CPDLC for the US or 98 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

ATN-based for Europe, the aircraft will need some form of VHF DataLink and a Flight Management System to display it. If flying over our vast oceans or circumnavigating remote continental landscapes, it will be necessary to have FANS 1/A+, with its wider scope of equipage requirements.

All of this is evolving fast now that DCL is in place on land, and FANS 1/A+ is a must for most oceanic tracks.

On the horizon are versions of ATN-B2 with a focus on trajectory-based operations, dynamic spacing and trailing, with the inclusion of the fourth dimension of time, in the calculation mix.

In the future you can expect real-time predictive analytics of aircraft performance, virtual 4D live tracking of aircraft at any global location, and a constantly updated cyber shield for all network users.

With a broad use of DataLink throughout unmanned operations and its development for e-VTOL air taxis, expect to see a leverage of internet-based DataLink across multiple phases of flight, using novel micro technology and cloudbased networks.

This will be supplemented by a rapid deployment of cube satellites and other space relaying modules, enabling global coverage, directly between aircraft and virtually anywhere, via their DSP/CSP. ❙

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

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

www.AVBUYER.com

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NAFA December.qxp_Layout 1 18/02/2020 15:14 Page 1

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

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FINANCE.qxp_Layout 1 18/03/2020 09:38 Page 1

ACTIONABLE INTELLIGENCE FOR FINANCE

INCLUDING...

• What’s the Real Cost of Business Aircraft Finance?

• Ownership vs Lease: What are the Pros and Cons?

• Buying a Jet? Defining Cash, Finance and Lease

FINANCE SPECIAL

Finance 1 APRIL20.qxp_Finance 17/03/2020 15:04 Page 1

FINANCE

Whatâ&#x20AC;&#x2122;s the Real Cost of Business Aircraft Finance?

102 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

www.AVBUYER.com

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Finance 1 APRIL20.qxp_Finance 17/03/2020 15:05 Page 2

AVBUYER.com

F

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

In today’s environment of low interest

rates, borrowing to finance a business jet acquisition could be attractive for businesses and wealthy individuals.

There are several factors to bear in

mind, though, according to industry experts. Gerard Cowan explores.

here are numerous ways to fund an aircraft today beyond traditional loans, according to Greg Holst, aircraft division president emeritus, 1st Source Bank (a US aircraft financing specialist).

These include various types of leases or fractional ownership. Other buyers acquire their aircraft with cash.

But despite the expansion of options, a significant proportion of buyers still opt for more traditional loan financing, where they borrow against their ownership of the aircraft as collateral, Holst notes.

Tax benefits can play a role here, with aircraft owners in the US able to reduce their tax payments through ‘Bonus Depreciation’ rules in many cases, effectively deducting much of the initial cost of the aircraft.

T

When Does Borrowing Make Sense?

Finance-savvy companies and individuals can use debt to their business advantage, says Adam Meredith, president of AOPA Finance (a finance broker that focuses on aviation). In today’s environment of extremely low interest rates, aircraft owners might decide that borrowing makes more sense than using cash, allowing them to use their money to generate higher returns in their business.

For example, if a loan costs 3% or less in annual interest payments, but the borrower makes an annual rate of return of 10% or more on their business, it makes sense to free up the cash to invest in their own endeavours, Meredith says.

Ownership of an aircraft – whether through cash or borrowing – can generate returns in its own right, Holst adds. Chief executives and other senior personnel have a finite amount of time to see clients and do business, so “an aircraft is the closest thing we have to a time machine in terms of taking that resource, which we can’t duplicate or expand, finding ways to get more done in the hours we have each day”. www.AVBUYER.com

What Factors Affect the Terms of a Loan?

Of course, the terms of a financing loan can differ from one borrower to another. AOPA highlights five major areas for borrowers to bear in mind that can affect the terms offered. These include: 1)

2)

3)

4)

5)

Usage: A financing company wants to know that an aircraft acquisition is appropriate to the owner’s needs, and how it will be used.

The more an airplane is used, the more it depreciates, and the more wear and tear it suffers. As the lender is effectively the aircraft’s co-owner, it’s important that their asset retains its value well.

Age, Make & Model: The older an airplane, the fewer the financing options. Lenders will also consider the condition of the aircraft’s onboard equipment (notably its avionics).

History: Borrowers must know all the specifications of their airplane, be able to supply photos, and show its maintenance and damage history (if any).

Down Payment: This is required and will commonly be between 15-20%. In general the, higher the down payment, the longer the term of the loan, depending on the borrower’s wishes.

Loan Amount: The borrower should think about the amount they want to borrow. For smaller amounts, buyers should be aware that the loan typically will require larger deposits and shorter payment terms, as well as demanding a higher interest rate. On the other hand, the higher the amount borrowed, the more options become available.

Meredith suggests borrowers consider securing pre-approval on a loan before bidding. “The market for in-demand models is incredibly hot right now,” he says. “Sellers know this, and they’re going to favour an offer from somebody who’s at least pre-approved to purchase something, much like when you’re purchasing a home.”

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“Sellers [are]...going to favor an offer from somebody who's at least pre-approved to purchase something."

How to Succeed with an Aircraft Finance Lender

Holst says the key to success with a lender is ensuring “they fully understand your success as a businessperson”. That means it is essential to provide between three and five years of financial history.

Given the typical size of aircraft loans, these statements should be audited or reviewed by an external, Certified Public Accountant (CPA) whenever practical.

“That makes the numbers more reliable and trustworthy for a bank,” Holst explains, adding that it also may be worthwhile consulting with lawyers and other technical experts with aviation expertise to ensure compliance with US federal regulations and avoid other surprises at or post closing.

Safeguarding Against Surprises

When considering finance terms, borrowers must insist on simplicity, says Vivek Kaushal, president and COO, Global Jet Capital, which provides a range of leasing and lending solutions in Business Aviation.

They must be able to determine the total cost of their financing at a glance, confirming there are no additional fees that the provider intends to charge.

Additionally, if the financing is indexed to a benchmark rate – like the London Inter-Bank

Offered Rate (LIBOR) – a change in those rates could also affect the financing cost.

“Most importantly, retain experienced tax advisors, as different types of financing can have differing tax implications,” Kaushal adds.

If a borrower works with an experienced and trusted provider, there should not be unexpected changes to financing costs along the way, he says. However, it’s best to stay in close touch with the financing provider to keep abreast of any new developments.

Holst points to a number of “eleventh hour glitches” he’s seen, though he notes that these would probably be avoided through thorough preparation. For example, if an aircraft has not been properly inspected ahead of buying, there could end up being future maintenance costs that were not factored in to the original loan arrangement.

Additionally, insurance is not always a given, he notes. While it should be a relatively easy process, particularly for those who’ve already owned aircraft, new owners are finding insurance coverage more difficult and costly to acquire, particularly for owner/pilots. This could add unexpected costs.

“This is where an aircraft expert, someone who's been loaning money on aircraft and does it as a specialty, should be able to help guide you and give you some support,” Holst concludes. T

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Ownership vs Lease: What are the Pros and Cons?

To lease or to buy? That is a very, very big question.

Rohit Jaggi speaks to the industry’s experts to find the pros and cons to each option and find out which is best suited to whom?

hether you ultimately choose to lease or buy, both will achieve the same short-term goal of placing you in your next aircraft. But they’re hugely different – including in a couple of ways that might be surprising.

In a world where car ‘ownership’ is routinely by personal contract plans that have transformed access to expensive vehicles, ownership might seem a touch old-fashioned. But taking that route still has some compelling reasons.

Choosing between buying and leasing largely comes down to liquidity and opportunity cost.

But it can be even more complicated than it appears. As Gary Crichlow, director of aviation finance at London-based finance brokerage and advisory firm Arc & Co, points out, those two options can be subdivided to make four main ways to own your next business aircraft.

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• • •

•

The first is outright ownership (cash).

Second is to own via debt financing, with the airplane as security for the mortgage.

Third is leasing via a finance lease or hire purchase, which, like debt financing will probably involve an initial deposit, monthly payments and possibly a final lump sum ‘balloon’ payment. Unlike debt financing, the lender will keep legal ownership of the airplane until the loan is paid off.

Fourth is an operating lease, which is more like renting the aircraft. The lessor owns it throughout. A deposit is usually a security deposit that is repaid, all being well, when the airplane is handed back at the end of the term.

As Crichlow says, “All of these options are complex, but option one is generally the simplest www.AVBUYER.com

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

because it's essentially two parties – you and your team of experts, and the seller and their team. The other options introduce a third party the financier - with its own team of experts, and its own requirements.”

Complex Doesn’t Equal Disadvantage

But while they are more complex, Crichlow adds, all the options apart from self-funded outright ownership have a significant advantage. “Rather than locking the client's own cash into a fundamentally depreciating asset, financing frees up that cash to earn a return instead, such as investing in the client's business or in other assets.

“Certainly, with base rates at their current lows, there are some attractive opportunities to finance at the moment.” And here it depends what else you might do with that cash…

A company that generates returns of 5% or more on investments might be best advised to use any cash doing exactly that, rather than sinking it into an asset that loses value. “In my opinion,” Crichlow offers, “the decision to lease, own with financing or own outright, comes down to your comfort level with three considerations: depreciation, liquidation and title security.” www.AVBUYER.com

Consideration 1: Aircraft Depreciation

“When talking about aircraft depreciation,” Crichlow continues, “there's depreciation from an accounting point of view and a ‘real market’ depreciation of value. If, based on expert tax advice, there are significant enough advantages to you from the former, and/or you're not bothered about the latter, then ownership could make sense.”

Tax changes in the US at the start of the present administration allow an immediate tax deduction of 100% of the cost of new and pre-owned aircraft – a change that spurred several purchases.

But gone (at least for the foreseeable future, as the world battles a viral pandemic and a contagion in lack of confidence) are the days when early buyers of new models might be able to count on a higher value for their aircraft than they paid. That era, which now seems a long time ago, essentially ended with the global financial crash in 2008, although it took a while for everyone to cotton on to the new reality.

Despite the tax change in the US, prices of used jets have not recovered significantly.

Consideration 2: Liquidation

Liquidation can also be a big issue. “If you own the aircraft, then getting your cash back out of it by

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selling it will never be a simple exercise,” says Crichlow. “Nor will it be without costs such as broker fees, rectification of issues found by the buyer's prepurchase inspection, and legal and technical representation fees.

“Furthermore, the value of your aircraft is volatile, subject to market forces well outside your control.”

Even at the best of times, it can take months to sell a business jet or turboprop, so any business that relies on tight cashflow into which the sale of the jet has been inserted is optimistically playing with fire.

“A key advantage of an operating lease is that it transfers the hassle of liquidation and the asset value risk from you onto the lessor,” Crichlow points out.

“All you have to do at the end of the lease term is hand back the aircraft and walk away.”

Consideration 3: Title Security

Title security is a thorny one that “has both a legal and an emotional component,” says Crichlow. “If you own title to the aircraft, it confers certain advantages in terms of control, but it also imposes certain responsibilities. In leasing an aircraft, these advantages and responsibilities are the lessor’s.

“If your aircraft is financed and you get into financial difficulty, for example, the financier generally has an easier legal basis on which to intervene if they own title as a lessor, than if you own title and their security is via a mortgage.

“Furthermore, many owners simply enjoy the emotional fulfilment of owning title, and this fulfilment can - and often does - trump all other considerations,” he adds.

On the other side of the fence, for several reasons (some of them regulatory), financiers are being quite picky about who they work with. The number of lenders willing to lend you a few tens of million dollars, secured by a mortgage on the jet, is not huge. But the number of finance institutions willing to 108 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

take on the risks of actual ownership by granting you an operating lease is even smaller.

One of those is Global Jet Capital, which has built up its specialist expertise to the point where it is might even lease you an airplane that you have chosen but few other financiers would touch. The USbased company, which has $2.6bn in assets under management, prides itself on detailed knowledge of the costs and risks involved – and it charges a bit more to make up for the higher risk.

As Vivek Kaushal, president and COO of Global Jet Capital says, “you have to understand the asset.”

Don’t Decide Without Full Knowledge

It will pay to avoid being seduced into too swift a decision on whether to purchase or lease. Crichlow shares, “In my experience, when comparing an operating lease structure to a mortgage for the same aircraft, the headline monthly payment is often higher for the operating lease. This often leads people to dismiss operating leases.

“However, I always advise my clients to consider as well the non-refundable down-payment and balloon payment that many mortgages require, as well as the value of removing the risk and hassle of liquidating the asset, and to determine the financing structure cash flow and risk profile that works most advantageously for their situation.”

In Summary…

The latest plunge in the cost of borrowing, with base rates that have dipped to zero, might sway a decision on whether to own or lease, especially if you need to own your aircraft outright to be able to talk about it as yours.

But if you don’t have the granular knowledge that Global Jet Capital has, or the cash flow to wait out a dip in the market that comes just when you want to sell, then leasing may be a good option. T www.AVBUYER.com

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

Buying a Jet? Defining Cash, Finance and Lease What are the methods available to those wanting a full business aircraft ownership experience? Andre Fodor reviews the options, with a particular focus on traditional and operating leases… he secret to a successful business transaction is to aim to satisfy both parties. This will trigger a relationship based on goodwill and mutual interests, lasting far beyond any one-off transaction. When your counterpart understands your commitment to do ‘good business’, they, too, become stewards of your best interests.

As an example, a well-respected aircraft broker once stepped out of a major sale he could make when he realized the airplane he represented was poorly suited to our mission needs. Seeing our commitment to doing good business, the broker refused to let us have anything less than what would provide us with an excellent ownership experience.

In turn, his action was rewarded with our trust, several referrals to our peers, and the opportunity to participate in future deals over the years that have ensued.

Recently, I utilized these same principals to advise a new client on the best way to acquire his

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first airplane. Until recently, all aircraft transactions which I’d participated in were cash transactions or financed.

Cash Transactions: These are relatively straightforward. A purchase price is agreed, money exchanges hands between buyer and seller, and title transfers prior to the physical delivery of the asset.

Financed Transactions: These are modified cash transactions that include a third party; a creditor.

Here the buyer secures financing, either through a fixed-value loan or line of credit and uses it for the aircraft’s acquisition. The buyer is responsible for paying up a percentage of the purchase price (which may vary depending on the aircraft type, year, rate of devaluation and several other metrics).

The asset’s title is held as collateral and, at times, the lender will be required to provide additional collateral security, especially if the www.AVBUYER.com

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aircraft is to be operated or based in a location considered less stable or riskier for repossession purposes.

The Third Option: Aircraft Lease

A third, newer option in aircraft acquisition is the lease transaction. This has gained more traction as the financial institutions have been seeking new opportunities to lend money during a period of low interest rates.

Traditional Lease Arrangements: These focus on newer aircraft that are under warranty and tend to include restrictions on the allowable number of flight hours and cycles per year and over the lease contract. This is designed to protect the leased asset from over-use and an accelerated depreciation.

In a lease contract, there may be several requirements relating to how the asset should be maintained. The engines are likely to be required to be enrolled on specific hourly maintenance www.AVBUYER.com

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programs, and periodic conditional inspections may be required to confirm that the aircraft is being well-maintained.

The return of the aircraft at the contract’s end will include a formal inspection and compliance with any upcoming maintenance or Service Bulletins. Cosmetic repairs or fresh tires may also be required, depending on the contractual obligations.

Ultimately, a traditional lease may provide operators with: • • •

An opportunity to take advantage of progressive depreciation at the rate that the asset becomes your property.

A chance to buy the asset at the end of the lease contract at a pre-determined price (which may be above or below market).

Less out-of-pocket up-front investment, freeing capital for other business investments and a reduction in your tax bracket due to lower taxable income.

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Operating Lease Arrangements: To further increase the attractiveness of their lease products, the leading providers have developed new products designed to attract more people to lease aircraft.

The Operating Lease is one such product. In layman’s terms, it works similarly to a rental agreement that has a defined beginning and end, requiring the return of the aircraft to the lessor. In this case, however, these transactions can include: • •

Newer aircraft purchased by the leasing company and then leased, or Pre-owned aircraft that the leasing company either purchased or received back from a previous lease.

The leasing company receives the benefits of depreciation and a volume discount through buying aircraft from the OEM which it then sells for retail price. The lessee, meanwhile, is free from the onus of a large capital outlay and only has to make an initial negotiated buy-in lease payment followed by monthly payments.

At the end of the lease, the lessee can either return the asset and move into another aircraft or extend the lease.

Per the traditional lease, the lessor will limit and

review the operation of the aircraft to prevent accelerated depreciation, and may require intermediate inspections. The risk lies with the lessor who must assure that the sum of the lease payments, residual value post-lease and depreciation benefits still generate transactional profit.

What Does an Aircraft Lease Cost?

Monthly lease payments typically equal 0.8% of the aircraft’s value. Terms typically vary between five and 10 years, and lessees needn’t concern themselves with residual value.

While leasing companies have traditionally tended towards assets valued over $10m and newer than eight years, as more lenders have sought to provide solutions to the market, some are offering leases designed for different requirements.

In Summary…

So, are there any tips worth prospective lessees noting? I’ve found that if the leasing company already owns an aircraft that’s suited for your needs in its inventory, a better deal can be negotiated. As with any business transaction, negotiation is central to buying an aircraft, ensuring the deal is right for both parties.

Ultimately, a lease can be a valuable tool for less complex operators, and especially for those who are making a first foray into aircraft ownership. T

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Business aviation financing. \ For those who value simplicity.

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What are the Top Myths and Facts About Aircraft Operating Leases The Operating Lease is viable for many business aircraft users, yet there are several areas of misunderstanding about this financing option.

Here we aim to examine the myths and discover the realities. uying a business aircraft represents a substantial investment. Depending on the size, age, and type of aircraft, potential operators could easily spend tens of millions of dollars on their purchase.

As a prospective aircraft owner, this makes the due diligence process essential. Part of that requires consideration of the most suitable ownership method to satisfy individual mission needs.

This can be easier said than done â&#x20AC;&#x201C; particularly where misunderstanding can be rife, as is often the case with the Operating Lease structure. Below we explore and clarify some of the common misconceptions about the Operating Lease.

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Myth #1: Operating Leases are restrictive

Some of the confusion regarding the restrictiveness of an Operating Lease emanates from inaccurate comparisons with the fractional ownership model. There are in fact significant differences between the two.

Under an Operating Lease, ownership of the aircraft is not shared with anybody else. Similar to a car lease, passengers leave their personal effects on board and access the same aircraft for the entirety of the term of the lease, as if it was their own jet, but often without high capital outlay. Throughout the lifetime of the lease, owners can put the business capital to better use elsewhere. www.AVBUYER.com

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allow a lessee to up-or down- size the aircraft as their mission requirements change. It is also possible to extend the term of the lease or terminate it prematurely. The ability to be flexible will depend on the lease provider you choose.

Remember, a well-tailored Operating Lease can be crafted to adapt to changing business needs which regularly evolve.

Myth #3: Operating Leases are only suited to newer aircraft

Prospective owners might be pleasantly surprised by the relatively few limitations regarding the types of aircraft they can lease. Whether the aircraft is new or pre-owned, even slightly older, there are providers in the market who will offer Operating Leases.

That’s because specialists in Business Aviation financing, such as Global Jet Capital, seek to spread risk across a large portfolio, encompassing aircraft from all leading OEMs, across global markets, and from a variety of age brackets.

Myth #4: Operating Leases only work in a bad resale market or when interest rates are high

It’s true that some restrictions exist within an Operating Lease, and primarily these relate to upgrades, modifications and who provides maintenance, all of which have potential impact on the residual value of the aircraft at the end of the lease.

Other, usual lease terms will also apply. Use of the aircraft falls within the normal patterns of ownership.

Ultimately, much depends on the lessor you choose to provide you with an Operating Lease. Some lessors will be a better match for your requirements than others. A well-matched lessor will look to understand your needs and work to offer terms that are flexible, and that achieve your particular requirements.

One of the most attractive aspects of an Operating Lease is highlighted at the end of the lease term. Instead of shouldering the burden of finding a buyer, while continuing to bear the responsibility of a potentially depreciating asset, an Operating Lease with a predictable term makes disposition of the aircraft as simple as returning it to the lessor.

Myth #2: You’ll be trapped in an Operating Lease, even if your business needs change

While entering into an Operating Lease is contractual, it doesn’t have to mean the terms of that contract are rigid. Depending on the terms of the lease, modifications that adapt to your changing business model can be made.

For example, it’s possible for contracts to be adjusted to www.AVBUYER.com

Regardless of the resale market patterns, or fluctuating interest rates, aircraft owners who understand the benefits of accessing Business Aviation are prepared to take a risk. To purchase an aircraft outright requires either a large cash outlay or a significant down payment to obtain the necessary financing.

Geo-political situations, emerging technology, and the realities of economic variability all play their part in stabilizing and destabilizing markets. There are no guarantees that a strong market will still be strong when the time comes to sell the aircraft.

The advantage offered by an Operating Lease is that it provides predictable costs throughout the duration of the lease, from the initial payment to the end of the lease term.

Myth #5: You can only achieve privacy by owning an aircraft outright

Due to the fact an Operating Lease reduces visibility to an aircraft’s end user (since the public records of the FAA identify the lessor as the owner of the aircraft), a leased aircraft may actually provide an additional layer of anonymity to those seeking ultimate discretion.

In Summary…

The above are just five examples of how misunderstanding can cloud perspective and the Business Aviation user’s view of the options available to them. Regardless of the type of ownership that ideally caters for your mission need, users should challenge the preconceptions and discuss the options with those well placed to shed light on them.

An Operating Lease can be an extremely viable and very attractive alternative to outright ownership for savvy executives seeking the business aircraft ownership experience. T More information from www.globaljetcapital.com AVBUYER MAGAZINE Vol 24 Issue 4 2020

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Find out if youâ&#x20AC;&#x2122;re a good fit today at PartnersInAviation.com.

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OEM Bites

Bell officially unveiled its electrically distributed anti-torque (EDAT) system via its Facebook page February 20 but has been operating it on a Bell 429 flying testbed since last May. EDAT significantly reduces helicopter noise, augments power to the main rotor and replaces the tailrotor with a series of four ducted fans embedded in the vertical stabilizer. www.bellflight.com

Gulfstream G700 Makes First Flight The all-new Gulfstream G700 made its first flight recently, officially launching the rigorous flighttest program of what Gulfstream says will be “the most spacious jet in the industry” with the longest range at the fastest speeds… eparting Savannah/Hilton Head International Airport, Georgia, the first G700 flight lasted for approximately 2.5 hours and utilized a 30/70 blend of sustainable aviation fuel.

“The G700’s first flight is a momentous occasion and the next step forward in Gulfstream’s vision for the future,” Mark Burns, president, Gulfstream remarked.

The G700 was introduced as Gulfstream’s new flagship in October 2019 with a full-scale cabin mock-up and an aircraft taxiing under its own power. The program includes five already manufactured flight-test aircraft and a structural test article that has completed load testing.

The aircraft introduces many all-new interior “differentiators”, according to

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Gulfstream. These include an “ultragalley” offering over 10 feet of counter space and a crew compartment or passenger lounge, ultra-high-definition circadian lighting system, speakerless surround sound, and a master suite with shower.

Powered by Rolls-Royce Pearl 700 engines the aircraft will fly at its highspeed cruise of Mach 0.90 for 6,400nm, or at its long-range cruise of Mach 0.85 for 7,500nm. “The G700 brings the best in the business together – the innovation of the G500 and G600 Symmetry Flight Deck and the legendary performance of the G650ER – and we are excited to deliver this exceptional aircraft to our customers,” said Burns.

More information from www.gulfstream.com

Boom Supersonic’s XB-1 third-scale demonstrator for the Mach 2.2 Overture airliner is now planned to fly by mid-2021, CEO Blake Scholl told the U.S. Chamber of Commerce’s Aviation Summit in Washington recently. Assembly of the wings is complete, the forward fuselage was closed out recently, and the wings and fuselage will be joined imminently.

After rollout, the XB-1 will begin a year of ground tests. www.boomsupersonic.com

Daher the focus once again on further e-Copilot enhancements and cabin improvements. Following on the addition of automated icing protection for both models and autothrottle for the TBM 940 in 2019, this year’s e-Copilot extension is HomeSafe, an emergency autoland system—but only for the 940. www.daher.com

www.AVBUYER.com

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ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION

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

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

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

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

Jim Donath - Donath Aircraft Sales

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OEM Bites

Kopter received production organization approval (POA) from the Swiss Federal Office of Civil Aviation (FOCA) recently, which the OEM says will enable it to ramp up production on its light single-engine SH09. www.koptergroup.com

Spike’s Zero-Carbon Supersonic Flight Developing zero-carbon supersonic long-range aircraft will take time, according to Vik Kachoria, president and CEO, Spike Aerospace, who expects approximately 15-25 years will be necessary for the required R&D. ccording to Kachoria, environmental stewardship, particularly in aviation and supersonic aircraft is a critical issue, but he finds “the whole carbon neutral trading scheme to be questionable in merit.”

Nevertheless, he is keen to uphold “the critical importance of aviation to work towards sustainability and substantial reduction in emissions.”

Several times over the past two years, Spike Aerospace has spoken out about committing to environmentally responsible supersonic flight and to ultimately develop zero-carbon aircraft — not just carbon neutral jets.

Spike’s own approach towards sustainability is two-fold. First, it will continue making advances in supersonic

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aerodynamics and technology using current engine technologies (jet fuel powered). Second, it plans to simultaneously pursue the necessary R&D to develop a viable, articulated, believable, sabre-toothed strategy for sustainable aviation for the future.

In 2017, Spike Aerospace built and flew the first in a series of flight demonstrators, the Spike SX-1. The subsonic, sub-scale aircraft was fully electric powered and produced zerocarbon emissions — not just carbon-neutral. The company has also built two more demonstrators which are also electric powered.

More information from www.spikeaerospace.com

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Textron Aviation announced a purchase contract with Pel-Air, based in New South Wales, Australia, for five Beechcraft King Air 350 air ambulance turboprop aircraft. The aircraft, configured for multi-stretcher operations, will be equipped with the aft cargo door and heavy weight options for additional performance capabilities. Deliveries are expected to begin later this year and run through 2021. www.txtav.com

VoltAero is looking to fast track type certification of the nine-seater Cassio by the end of 2021 to be ready to make first deliveries in early 2022. The Cassio is similar in design to a Cessna 337 Skymaster and is powered by a pair of 80hp Safran ENGINeUS 45 electric motors with forward-facing propellers and three 80hp Emrax electric motors driving a rear pusher prop. It also has a 402hp internal combustion engine (based on a Nissan V6 design). www.voltaero.aero

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Kenny Dichter

Don Dwyer

Sheryl Bunton has been promoted to senior vice president at Gulfstream Aerospace Corp. and is now a member of the company’s senior leadership team.

Jeff Chiang was appointed COO on behalf of the Asian Business Aviation Association (AsBAA), Asia’s non-profit representative body for the Business and General Aviation industry.

Kenny Dichter founder and CEO of Wheels Up, has received the Eren Ozmen Entrepreneur of the Year Award at the recent 17th Annual Living Legends of Aviation Awards in Los Angeles.

Gail Grimmett

Aaron Hilkemann

Allison Mckay

Julie Goodridge becomes vice president Allison McKay accepted the position of sales, US, a newly created role, on of CEO at Women in Aviation behalf of Jetex.

International following the retirement of Dr. Peggy Chabrian who founded Gail Grimmett a former senior executive the organization. with Delta Air Lines, has been appointed chief experience officer at Wheels Up. Chris Randall has been appointed Head of Aviation Development for Jared Hasty has been promoted to Biggin Hill Airport. director of sales and key accounts at OGARAJETS, a leader in comprehensive, concierge-level service for aircraft acquisitions and sales.

Aaron Hilkemann currently president of Duncan Aviation, will retire from his position on July 1 of this year and move Don Dwyer, Guardian Jet’s managing to CEO and chairman of the board of partner has been appointed to the advisors, a newly created part-time Advisory Council for the National position. He will be succeeded by Jeff Business Aviation Association (NBAA).

Lake, the current COO for Duncan Guardian Jet is a leading aircraft brokerage, appraisals and consulting firm. Aviation’s Lincoln, Nebraska, facility.

Brad Thress joined FlightSafety International as president and CEO. He assumes this responsibility from David Davenport, who has left the company.

Rod Zastrow has been named to the Strategic Advisory Board of Bye Aerospace, which is the developing the eFlyer family of all-electric aircraft.

Matt Zuccaro, who in June 2019 announced his retirement as president and CEO of

Helicopter Association International (HAI), passed away February 25. Zuccaro’s more than

50 years of aviation experience began with his service in the US Army with the 7/17 Air

Calvary unit in Vietnam, for which he was awarded two Distinguished Flying Crosses, three

Bronze Stars and 19 Air Medals. He later became an instructor at the Army Flight School

at Fort Rucker, Alabama.

Matt Zuccaro

BizAv Events 2020 AERO Friedrichschafen CANCELLED Apr 1 - 4Friedrichschafen, Germany www.aero-expo.com ABACE: CANCELLED Apr 21- 23 Shanghai, China www.nbaa.org Business Aviation Safety Summit (BASS) Apr 28 - 29 Savannah, GA, USA www.flightsafety.org NAFA: Convention CANCELLED Apr 28 – May 1 Napa Valley, CA, USA www.nafa.aero

www.AVBUYER.com

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

The Elite London May 15 - 16 Wycombe Air Park, Bucks, UK www.theeliteevents.com

NBAA: Business Aviation Taxes Seminar May 21 - 22 White Plains, NY, USA www.nbaa.org

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

Vertical Flight Society Forum 76 May 19 – 21 Montreal, Canada www.vtol.org

HeliRussia May 21 -23 Moscow, Russia www.helirussia.ru

IADA Meeting May 11-13 Dana Point, CA, USA www.iada.aero

AsBAA China Safety Day May 21 Beijing, China www.asbaa.org

EBACE: CANCELLED May 26 - 28 Geneva, Switzerland www.nbaa.org

Cybersatcom May 13-15 Los Angeles, Ca, USA www.cybersatsummit.com

NBAA: Security Conference May 20 – 21 White Plains, NY, USA www.nbaa.org

AOPA Fly-In May 29 – 30 San Marcos, TX, USA ww.aopa.org T AVBUYER MAGAZINE Vol 24 Issue 4 2020

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PRODUCTS & SERVICES Acropolis Aviation’s New Airbus ACJ320neo

Acropolis Aviation, the UK VVIP charter operator, announced the arrival of G-KELT, its brand-new ACJ320neo. The aircraft touched down at Acropolis’ Farnborough Airport home on 27th February, the culmination of 13 months’ cabin outfitting by Basle, Switzerland based AMAC Aerospace. Its distinctive, elegant cabin interior was overseen by designer Yves Pickardt from Alberto Pinto. He congratulated the AMAC team, who have “brought our design to life beautifully.”

G-KELT takes long-haul flying to a new level. It brings stylish accommodation for 19 passengers, including a private master bedroom leading to a luxury en-suite bathroom with a rectangular shower, the largest ever to be installed in an Airbus single-aisle aircraft. Cabin space is versatile to suit Acropolis’ diverse clientele, from heads of state to private individuals flying for business or leisure www.acropolis-aviation.com

4G Cabin Connectivity for Learjet Fleet

Bombardier Aviation is bringing faster connectivity to its inservice Learjet fleet as part of a continuing commitment to this platform. Gogo Business Aviation’s next-generation, 4G air-to-ground (ATG) internet system, Gogo AVANCE L5, has been an available option on new Learjet aircraft since last year.

Bombardier is now offering customers the high-performance 4G in-cabin Wi-Fi system as a retrofit for in-service Learjet 40, Learjet 45, Learjet 70 and Learjet 75 aircraft. Customers can have the system installed at all Bombardier Service Centres and Authorized Service Facilities throughout the United States www.businessaircraft.bombardier.com

Daher Winglets for G700

Performance-enhancing winglets built by Daher are incorporated on Gulfstream Aerospace Corp.’s all-new G700, contributing to this twin-engine business jet’s fuel efficiency and ultralong-range.

The winglets – upward-curved extensions at the

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aircraft’s wingtips – are produced in composite and metallic materials, with Daher achieving both the optimization of weight and enhanced aesthetics for these aerodynamic components.

They are manufactured at the Daher factory in, France and sent for build-up at Gulfstream Aerospace’s aircraft assembly facility in Savannah.

The winglets, which Daher designed to Gulfstream’s aerodynamic shape and specifications, play a role in the G700’s excellent flight range of up to 7,500 nautical miles/13,890 kilometers www.daher.com

DC Aviation Selected by Comlux

DC Aviation has been selected to perform the line maintenance and warranty work for Comlux customers based in Europe and CIS. The line and base maintenance services for aircraft of the Airbus ACJ Family, Global Express 5.000/6.000, and Challenger 604/605 will be carried out at DC Aviation’s dedicated 5,700 square meter Stuttgart Airport (EDDS) hangar, which also contains a large and well equipped parts inventory, a certified battery and tire shop, and a maintenance logistics center.

DC Aviation has been offering line and base maintenance services for various types of aircraft since 1999 and is able to carry out exceptionally complex work with the highest level of reliability and competence. Due to 24/365 availability, combined with intelligent planning and smooth workflows, DC Aviation is able to meet challenging ground-times www.dc-aviation.com

Duncan Gets Honeywell Approval

Duncan Aviation announce that Honeywell has recently granted the company approval to facilitate repairs, overhauls, and exchanges on all Honeywell Line replaceable components and parts on behalf of its customers.

This agreement immediately expands Duncan Aviation’s service capabilities and establishes the company as a one-stopshop for customers needing repairs, overhauls, and exchanges for the full lineup of Honeywell’s components and parts products.

“We have been collaborating with Honeywell for more than 40 years,” says Mark Cote, Vice President of Parts Sales, Component Repairs, and Satellites. “This long-term, trusted partnership ensures our mutual customers always receive the best experience, greatest value, and highest quality component service possible.” www.duncanaviation.aero www.AVBUYER.com

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PRODUCTS & SERVICES Elliott Completes 10th Excel/XLS G5000 Install

Elliott Aviation, Garmin’s leading retrofitter and a leader in business aviation maintenance, repair, and overhaul services, has completed their industry-leading, 10th Garmin G5000 equipped Citation Excel/XLS aircraft. The aircraft work scope also included a Doc 6, engine hot sections, cabinets, Gogo Avance L3 along with Elliott Aviation’s WiFi enablement STC. The Garmin G5000 for the Citation Excel/XLS replaces all existing Honeywell Primus 1000 avionics, including the autopilot and flight director. The retrofit has WAAS/LPV, ADS-B, XM weather, electronic charts, SafeTaxi, engine monitor data, and emergency descent mode. It also has optional synthetic vision, turbulence detection, SurfaceWatch, underspeed protection, Chartview, CPDLC, and lightning and hail prediction www.elliottaviation.com

FAI Acquires Second Premier 1A

Part of FAI Aviation Group, rent-a-jet AG, has acquired its second Premier 1A (MSN RB-196, DIVAG) on behalf of a corporate client.

It is anticipated that the Premier 1A will enter turnkey charter operations under management contract in June following a carbon fibre style full cabin refurbishment and new exterior designer paint.

This latest addition will bring the company’s fleet of jet aircraft to 27. The Premier 1A light jet provides for up to six passengers and will feature a well-appointed, light grey leather interior in a four-seat club configuration and two aft chairs. In addition, onboard Wi-Fi internet/VoIP will be provided by Gogo´s Aviator 200 system www.fai.ag

Garmin GTN XI Series Approved for Heli’s

Garmin announced the GTN 650Xi and GTN 750Xi have received FAA approval for select helicopter models. Designed as a direct slide-in upgrade to the previous generation GTN 650/750, the allin-one GPS/NAV/COMM boasts a feature-rich multifunction display and can integrate with new or existing remotemount equipment such as a transponder or www.AVBUYER.com

audio panel. Dual-core processors and modern hardware also prepare the GTN Xi series for advanced capabilities in the future www.garmin.com

Global Jet’s Bright Start to 2020

By announcing a new addition to its charter fleet based in Geneva; a brandnew Falcon 8X, latest and newest aircraft in the charter market.

The Falcon 8X is a derivative of the successful Falcon 7X trijet. Being the longest cabin in the Falcon family, this private jet is configured to welcome 14 passengers and capable of flying 6,100 nautical miles. The cabin is divided into three sections enabling passengers to appreciate every second of their flight by working tranquilly in the forward cabin, by savouring a nice meal in the middle cabin and/or by relaxing on the divan in the afterward cabin. The aircraft features a large one-sided galley opposite a crew rest and is equipped with two lavatories. This private jet is equipped with Falcon Eye – latest technology of infrared camera.

Every inch, every centimetre of the new Falcon 8X is designed to enhance your travel experience www.globaljetconcept.com

RUAG Repaints Legacy 500

RUAG’s in-house painting specialists worked together with the customer to update and restyle the aircraft’s livery.

The repainting process began by stripping the aircraft of its previous paint layers to achieve optimal coating quality and durable skin protection. The owner’s personalized design featured multiple dynamic stripes on the fuselage and tail in bold-to-fading shades of black and gray.

Supporting customers with precision aircraft painting is a core capability within RUAG’s one-stop shop approach to aircraft MRO services. “This is our first Legacy 500 exterior,” states Reinhard Imhoff, Sales Manager Exterior Services, RUAG MRO International. “Our highly experienced team has developed a well-deserved reputation for reliability and excellence in aircraft painting and we welcome all aircraft types.” www.ruag.com

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PRODUCTS & SERVICES StandardAero Debuts New Business Aviation Engine Exchange Program

StandardAero has launched a new business aviation engine exchange program with multiple options for all operators of legacy aircraft powered by TFE731, CFE738 and PW305 engines. The program also covers Honeywell 36-100/150 series auxiliary power units (APUs).

“As hull values for legacy aircraft drop, it is increasingly difficult for operators to financially justify the cost of a full engine overhaul,” said Marc Drobny, President of StandardAero’s Business Aviation division. “With StandardAero’s new engine exchange program, operators are provided with affordable options to keep their aircraft flying and quickly recoup the asset value of remaining engine life.” www.standardaero.com

Stevens Awarded Mexican AFAC

Stevens Aerospace and Defense Systems have been awarded full Mexican Agencia Federal de Aviación Civil (AFAC) approval for the company’s facility in Macon, Georgia. (KMCN). The authorization allows Stevens to fully work and return to service Mexican-registered aircraft.

The approval provides owner-operators of Mexicanregistered aircraft from turbo props to large cabin business jets an additional high-quality option in the US for maintenance, avionics modifications and interior refurbishments. Stevens’ Macon team specializes in Gulfstream and Global aircraft, but has considerable expertise and authority on Challenger, Citation, Embraer, Hawker, King Air, Learjet and other airframes.

Stevens’ Greenville, S.C. operation (KGYH) has been Mexican-certified for years and the company’s Nashville facility (KBNA) is currently in-process and expecting authorization later this year www.stevensaerospace.com

Wheels Up Buys Gama Aviation Signature

US business aircraft charter company Wheels Up has acquired aircraft operator Gama Aviation Signature, in a move that continues the former’s rapid expansion following a recent equity sale to Delta Air Lines and merger with the carrier’s private aviation unit.

Wheels Up has now acquired Gama Aviation Signature, a Connecticut company that has operated Beechcraft King Air 350i turboprops, Cessna Citation Excel/XLS and Citation X business jets for Wheels Up since 2013.

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Gama Aviation Signature is 49% owned by GB Aviation Services - a joint venture between UK firms Gama Aviation and Signature Aviation - with the remainder held by US partners.

Gama Aviation says it will receive $33 million from the sale: $10 million for its 24.5% stake, plus $23 million for “acelerated branding fees and and other trading-related considerations”.

That price suggests that Wheels Up will pay around $40 million for the equity in the business alone wheelsup.com

World Fuel Closes $170M UVair Acquisition

Miami-based World Fuel Services has completed its $170 million acquisition of the UVair fuel business from Universal Weather and Aviation.

Announced in August, the deal also makes World Fuel the exclusive contract fuel provider for Universal Weather and Aviation.

World Fuel said the deal brings several benefits to UVair customers, including World Fuel Rewards, more contract fuel locations, and adding aviation retail credit card Avcard to their portfolio. Meanwhile, FBOs can use World Fuel Network’s marketing tools and World Fuel Rewards to market their locations to an expanded audience.

As part of integrating the brands, World Fuel will be issuing a new contract card design, the World Fuel/UVair Contract card, hat works just like the World Fuel Contract card, complete with rewards and global acceptance. Known as the “new black” card, it will be provided to heavy UVair Fueling card users, as well as a replacement for lost or expired UVair cards www.wfscorp.com

Universal Avionic’s News on ‘Fly by Sight’Concept

Universal Avionics (UA) unveiled its latest developments in the ‘Fly by Sight’ flight deck concept to the helicopter market during the recent HAI HELIEXPO 2020. The company’s ‘Fly by Sight’ concept brings various flight deck technologies together in an integrated way for more intuitive headup operation during critical phases of flight, and is designed to improve safety in low-visibility environments and mission operations www.uasc.com

Stevens Installs First Garmin G5000 in a Citation XLS

Last January Stevens Aerospace completed the company’s first installation of a Garmin G5000 avionics suite in a Cessna Citation XLS. This is one of the first of ten G5000 upgrades for the XLS to be done in North America under an STC developed by Garmin and approved in July 2019. www.AVBUYER.com

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PRODUCTS & SERVICES The upgrade was done at the company’s Greenville, South Carolina facility. In addition to the G5000 flight deck, the 15year-old XLS also received fresh paint and a full interior refurbishment with leather seats, new cabinets, a reconfigured galley, and new passenger amenities.

The flight deck upgrade replaces the original Honeywell Primus 1000 avionics with three landscape-oriented split-screen displays and two console-mounted touchscreen-control pilot interfaces. The Garmin digital automatic flight control system includes emergency descent mode as a standard feature.

Garmin’s underspeed protection is optional and it also enables fully coupled go-arounds. ADS-B Out is standard, as is PBN/RNP 0.3 and LPV/APV approach capability www.stevensaerospace.com

Swissport Opens Exec Terminal in Morocco

Swissport Executive Aviation is further expanding its business in Morocco. After establishing its first Moroccan fixedbase operation (FBO) for business and executive aviation in Casablanca in 2018, Swissport has now moved into the dedicated VIP terminal at Marrakech Menara Airport, which opened last month.

The new facility offers state-of-the-art infrastructure, that make arrivals, stopovers and departures convenient and hassle-free. The VIP terminal includes a building from the Moroccan Airports Authority ONDA for police and customs www.swissport.com

Universal Aviation Singapore Earns IS-BAH Stage 2

Universal Aviation Singapore, based at Seletar Airport (WSSL), has earned Stage 2 accreditation under the International Standard for Business Aviation Handling (IS-BAH).

Universal Aviation, the ground support division of Universal Weather and Aviation, Inc., has more than 50 locations in 20 countries.

“We are proud to become the first Universal Aviation location in the Asia-Pacific region to earn IS-BAH Stage 2 www.AVBUYER.com

Stronger Together

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

registration,” said Yvonne Chan, Managing Director, Universal Aviation Singapore. “This honor keeps our momentum going in 2020 from a very productive 2019 in which we saw the opening of the new Seletar Business Aviation Centre (SBAC), our own newly renovated ops center and our purchase of a brand new towbar-less lektro tug” www.universalweather.com

Universal Aviation expands its global ground support network to Turkey

Universal Aviation, the worldwide ground support division of Universal Weather and Aviation, Inc., announced the continued expansion of its global network with the opening of Universal Aviation Turkey, based at Ataturk Airport (LTBA) in Istanbul and providing supervisory ground support for business aircraft at all airports across Turkey.

Univerasl Aviation Turkey is a partnership between Universal Aviation and Ferda Yildiz and Kaan Air locally www.universalweather.com

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Mesotis April.qxp 19/03/2020 14:28 Page 1

S H O W C A S E

MESOTIS JETS HAS EXCLUSIVE MANDATE TO SELL THESE THREE AIRCRAFT

1994 Bombardier Challenger 601-3R Airframe TT: 10589 • Landings: 7365 • ADSB-OUT • FMS 6.1 UPGRADE

2005 Cessna Citation CJ2 Airframe TT: 6121:54 • Landings: 4847 • ENGINES ON TAP ELITE (100%). EASA COMPLIANT • NEW PAINT (SEPTEMBER 2018) • DOC 10 (SEPTEMBER 2018) • ADSB-OUT • BELTED TOILET SEAT • ALWAYS HANGARED

1995 Cessna Citation CJ Airframe TT: 6760:25 • Landings: 6577 • ADSB-OUT • LPV/WAAS • TAP ELITE • INTERIOR REFURBISHED IN MAY 2018 Mesotis Jets Thomas Thums Fleischmarkt 7/3 1010 Vienna Austria

126 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

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

www.AVBUYER.com

Genel Havacilik BELL 407 April.qxp 17/03/2020 14:34 Page 1

S H O W C A S E

2004 Bell 407 Serial Number: Registration: Airframe TT: Landings:

53606 TC-HLN 2470:24 4708

Engines 2434:40 / TC: 3011 (SN: CAE-847650) 60 MONTHS INSPECTIONS COMPLETED ON JUN 11, 2019 Avionic and radio standart equipment Bendix/King KMA 24 H Audio Panel Bendix/King KX-165 NAV/COM Bendix/King KT-76C Bendix/King KLN 89 GPS System Garmin GNS530A GPS/COM/VOR/LOC/GS Garmin GDL69 Artex C406-1 ELT Equipment & options Bristol Aerospace Wire Strike Protection System Air Comm Corporation Air Conditioner Kit with Dual Fwd Evaporator Air Comm Corporation Cabin Heater with windshield & Chin bubble defrost AAI high visibility crew doors AAI high visibility crew doors openers AAI automatic passenger door openers aai automatic baggage door opener AAI pre-flight step handle kit AAI folding maintenance steps AAI baggage floor protector AAI cabin floor protectors (Front)

AI cabin floor protectors (Rear) AAI slide window latch kit AAI headsets retention brackets AAI Collective safety cover kit AAI cyclic support safety cover kit Paravion snow deflector dzus fastener kit Flight environments thermal/acoustic insulation system AAI VHF Com antenna mount kit LifePort, Inc. Interiors Center Refreshment Console with Ice Chest AAI WX-500 Stormscope Ant. Mount Kit AAI Deluxe Console AAI SFIM Force Trim AAI SFIM 2-Axis Autopilot AAI steerable Landing light Shadin Fuel Flow WHELEN STROBES CHELTON EFIS SYSTEM Motorola cabin portable cellular phone hands free kit AAI Carbide skid shoes AAI Aux Tank Protector Garmin GTX-33 Transponder BHT Max Internal Gross Weight Kit BHT Expandable M/R Blade Bolt Kit AAI Deluxe Console

Genel Havacilik A.S. Serdar Tamer Ozel Hangarlar Bolgesi Istanbul, 34149, Turkey www.AVBUYER.com

Tel: +90 53056 82483 Email: alsu@genelhavacilik.com.tr

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Jetsense Aviation April.qxp_Empyrean 18/03/2020 16:45 Page 1

S H O W C A S E

2007 Gulfstream G150 Serial Number: Registration: Airframe TT: Landings:

211 N248SL 3402.1 2231

 Recent 12 Year Inspection  APU on Program  TCAS II w/7.1 Engines Left engine Right engine Description: TFE731 40AR TFE731 40AR S/N: P 126111 P 126112 THSN: 3402.1 3402.1 TCSN: 2231 2231 THB OH: 4200 4200 Program MSP MSP APU Description RE100CS (G150) Serial No. P 223 Total Hours Since New 1383 Program MSP Avionics & Connectivity Collins Proline 21 Avionics Suite Total Dual Collins Digital Audio Systems Triple Collins VHF 4000E Transceivers w/8.33 spacing, (3rd w/Data Link capability) Dual Collins Navs ; NAV 4000 & NAV 4500 w/ADF Dual Collins GPS 4000 Global Positioning Sensors Dual Collins FMS 6100, FMC 6000 and CDU 6200 Flight Management Systems

Dual Collins ADC 3010s & AHS 3000 Data Computers/Attitude Heading Reference Systems Dual Collins DME 4000 Distance Measuring Equipment Dual Collins Cursor Control Devices for FGC 3000 Dual Chanel Auto Pilot w/AFCS Dual Collins TDR 94D Mode S Transponders Collins TWR 850 Weather Radar w/Turbulence Detection Collins ALT 4000 Radar Altimeter System Collins DBU 5000 Database Loader Collins HF 9000 High Frequency Transceiver with SELCAL Collins TCAS 4000 TCAS II with Change 7.1 Collins IFIS w/GWX 5000 Graphical Weather, Charts, Metars and Nexrad Collins FSU 5010 File Server Thales Integrated Electronic Standby Instrument Honeywell Mark V Enhanced Ground Proximity Warning System Class A TAWS Universal CVR 120 Cockpit Voice Recorder Artex C 406N 406 Mhz ELT Transmitter Interior & Entertainment Passengers Seven (7) Configuration Fwd Two (2) place club across a single forward facing captain’s chair Aft Four (4) place club configuration Galley Fwd Lav Aft Belted Exterior White base with Medium Green and Antique Gold trim stripes

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

128 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

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

Al Jaber Aviation March.qxp_Empyrean 18/03/2020 10:50 Page 1

S H O W C A S E

Price Reduced

Only $14,900,000 2010/2011 Embraer Lineage 1000 Serial Number: Registration: Airframe TT: Landings:

261 A6-AJI 3766 1068

 $14,900,000 Best value on the market  FAA/EASA Commercial Certification  Immediate sale/delivery directly by owner  Low time / well maintained / on programs  Will be delivered with fresh M8 and ADSB-Out  Interior refresh possible during M8 inspection Engines: GE/CF34-10E7B Enrolled on GE OnPoint Program Left engine Right engine Total Hours: 3766 3766 Total Cycles: 1068 1068 APU: PWC/APS2300 Serial Number: HSCE1023797 Total Hours: 3794 Avionics Lineage 1000 Honeywell Primus Epic Avionics Suite, Fly-by-wire technology, Steep approach capability Dual Honeywell DF-855 ADF Dual Honeywell TR-865A & TR-865B VHF Standby Magnetic Compass Dual Honeywell DM-855 DME 5-tube EFIS 5-tube Flight Director Audio International (cordless) Flight Phone

Dual FMS Dual Honeywell GPS w/Honeywell Antenna Dual Honeywell KRX-1053 HF w/SELCAL Dual Honeywell IRS Dual Honeywell VHF NAV Honeywell Radar Altimeter Iridium ICS-400 & PABX SATCOM EGPWS w/Windshear Honeywell TCAS-3000SP Dual Honeywell XS-857A Mode S Transponders Primus 880 Weather Radar w/Turbulence Interior & Entertainment VVIP/19 Passengers TTL. Seating - Forward meeting area, dining & conference suite, mid-cabin 4-place club, aft-4-place club, divan & 6-place conference group, aft divan opposite 2-place club, observer seat, flight attendant seat.

Forward galley: 2 ovens, microwave oven, chiller, coffee brewer, espresso maker.

Forward 17-inch video monitor, mid-cabin 42-inch monitor, additional aft 23-inch mid-cabin monitors entertainment cabinets, dual Audio International CD players, Airshow 4000 (lineage premium worldwide package), three multi-region DVD players, iPOD, external audio/video connectivity, Hi-Fi stereo surround sound, SATCOM, high-speed data w/wireless LAN Business- fax machine, laptop connections * Subject to verification by buyer upon inspection, subject to prior sale and/or removal from market

Al Jaber Aviation LLC Bilal Yousuf Al Bateen Airport, Abu Dhabi United Arab Emirates www.AVBUYER.com

+971 (50) 813-3029 bilal.yousuf@ajaprivatejets.com

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Dassault Falcon 900LX

The Ritchie Group Price:

Make Offer

Year:

2010

S/N:

244

Reg:

-

TTAF:

3,528

Location: USA & Canada

M A R K E Tel: +1 (314) 409-4791 T E-mail: sales@jet-transactions.com P L LOW HOURS, IMMACULATE U.S. FORTUNE-500 OWNED A Heavily Optioned — 2020 Compliant with Fresh Engine MPI’s. EASy II C w/ADS-B Out/FANS 1A/CPDLC. Seller Paid PreBuy Underway At DFJ E Little Rock. Fully Programmed. Airframe: Total Landings Since New 1,843 Landings. Maintenance Tracking CAMP. Certification Currently Operated Part 91. Engines: Program Coverage MSP Gold MSP Gold MSP Gold. Avionics: Integrated Honeywell Primus Epic avionics suite.

EFIS 4 monitors Honeywell Primus Epic EASy II. FMS Dual Honeywell EASyII. Int: 2016 Paint and Interior by WestStar Aviation. Number of Passengers Fourteen (14). Galley Location Forward

www.jet-transactions.com

Bombardier Global 5000

Aircraft Acqisitions Price:

Make Offer

Year:

2013

S/N:

9492

Reg:

N286JS

TTAF:

943

Location: USA & Canada

GBJets

Cessna Citation Encore Price:

Please Call

Year:

2005

S/N:

650-0685

Reg:

N426SS

TTAF:

10,007.4

Tel: +1 (919) 683 2600 E-mail: maria@aircraft-acquisitions.com Aircraft Acquisitions is pleased to offer this pristine, low-time Bombardier Global 5000 for immediate sale. This unique US aircraft features the Global Vision Flight Deck with the version 5 – latest – software update, the addition of L5 Avance Wifi for domestic operations, and the latest upgrades for the North Atlantic and European airspace. 598 Landings. Engines: Rolls Royce BR710A220 turbofans. Rolls Royce Corporate Care coverage. APU: Honeywell RE220 with MSP Gold coverage. s/n-506— 912 total time.

Avionics: ATN-B1 Cockpit to Controller Datalink for European Link 2000+. Global Vision Flight Deck Software Version 5

Tel: +1 (720) 360 7676 E-mail: gbabcock@GBjets.com Duncan Paint & Interior – 6/7/18 Phase 1-5: 11/11/19 Landing Gear Overhaul: 8/21/19 ESP Gold Lite FAR Part 135 – Conformity - November 2019 ADS-B Compliant

Location: USA & Canada

Gulfstream G150

Amber Jet Price:

Make Offer

Year:

2008

S/N:

245

Reg:

ES-AIR

TTAF:

3115

Tel: +371-26772999 E-mail: vr@amberjet.net EASA and FAA Compliant; Exterior refurbished in 2016; Maintained at Gulfstream London & Altenrhein Aviation Enrolled on Rockwell Collins CASP Elite; Exterior fully refurbished in 2016; Fresh MPI accomplished at 2900 hrs. at Dallas Airmotive, Inc; Operated by European AOC. Feel free to contact for full specifications and brochure

Location: Europe, Latvia

Cessna Citation Sovereign

Jeffery Harris Price:

$8,800,000 Plus Tax One owner only, very low hours- 650 hours totally.was flying 100 hours

Year:

2012

S/N:

334

Reg:

N777GD

TTAF:

962

Location: USA & Canada

www.AVBUYER.com

Tel: 1 (316) 409 4225 E-mail: 971598357@qq.com each year for business use only. Interior seems and smells as new!

Always in hangar. never grounded for maintenance reason ever. Never any smallest accident. ADSB, wifi and satellite phone equipped.

Engines: PRATT & WHITNEY PW306C. 650 hours each only. esp covered. APU: Honeywell RE100. Avionics: Honeywell Primus Epic ADF: Single Honeywell. Comms: Dual Honeywell. NAVS: Dual Honneywell. Int: Seating: 9 passengers. Medium taupe interior.

Forward side-facing seat, dual double clubs, aft RS non-belted lav seat Refreshment: Forward RS refreshment center

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M A R K E T P L A C E

Cessna Citation Bravo

Boris Peev Price:

$800,000 No VAT

Year:

2002

S/N:

550-1007

Reg:

LZ BPP

TTAF:

3533.8

Location: Bulgaria

Hawker Beechcraft 800A

Jeff Johnson Price:

USD $1,500,000

Year:

1994

S/N:

258253

Reg:

N1310H

TTAF:

9763.7

Location: USA & Canada

Drew Hess

Dassault Falcon 900B

Price:

$1,300,000

Year:

1987

S/N:

16

Reg:

N900SF

TTAF:

8,900

Tel: +359 888 211 134 E-mail: office@aviobravo.com EU Registration. ENG1-PW 530A, 3533.8 H. ENG2-PW 530A, 3533.8 H. RVSM: Factory Standard. No damage history. Complete records and all log books. Special AOC Package: Commercially registered and operated in European AOC. This aircraft is in excellent condition.

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

Tel: +1 (863) 221 8705 E-mail: cirrus1955@yahoo.com ADS-B Compliant. TT Since New 9763.7. Landings 7695. Engines: MSP. TFE-731-5R-1H. Left P91698 TT 9652.6 Cycles 7526. Right P91594 TT 9343.1 Cycles 7293. APU: T-62T-49-77 (SP-E925271).

Avionics: Honeywell SPZ-8000 / Primus II. Honeywell SPZ-8000 Flight Director. Honeywell DFZ-8000 Autopilot. Dual Honeywell AHZ 600 AHRS. Int: Last interior refurbishment by Stevens Aviation, Inc. June 2007. Eight passenger configuration with forward four individual club seating, one single left seat and three- place divan on the right side. Ext: Last repaint by Midcoast Aviation, Inc. - June 2008 White and Grey with Red and Black stripes.

Tel: +1 (714) 931 9380 E-mail: drew@planefetch.com 1/3 Partnership ONLY!!! 4,000nm range! Fans 1A/CPDLC, Aviation Partner Winglets, New Paint, New Interior ADS-B, GOGO Wifi, Turn Key, 1/3 Partnership available in Southern California Perfect for KONT, KSNA, KLGB, KLAX, KVNY, KBUR and KSAN. Fly for D.O.C.!!!! Possible Owner Financing Available! Call or text or email for more details on program details! Airframe: Low Total Time! 8,900TTAF. Engines: MSP GOLD. APU: MSP Gold

Location: USA & Canada

Beechcraft King Air B200

WISS ISS Price:

$1,620,000 Plus Tax

Year:

2004

S/N:

BB-1861

Reg:

SP-RPW

TTAF:

2804

Location: Poland

Hughes 369

Philip George Price:

£315,000 Excl. VAT

Year:

1972

S/N:

62-0389S

Reg:

N2742Y

TTAF:

2464

Location: United Kingdom

132 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

Tel: +48 533 538 071 E-mail: pr@wiss.com.pl Engines: Pratt & Whitney PT6A-42, Propellers: Hartzell HC=E4N-3, Propellers inspected in 2017, Landing Gear Overhaul done in 2017, No damage history, ADS-B installed at the end of 2019. TT: 2866Hrs. Landings: 2782 cicles. All services carried out on time without exceeding the time limit. Always kept in a hangar - Privately owned by one family. CABIN Very well-kept interior - leather: – Cabin seating for six – Left-hand forward refreshment center – Two executive tables – Right-hand aft side-facing belted lavatory seat – 115 VAC outlets. – Pro Line 21 Integrated Avionics System – Collins radios with dual COM, dual NAV, dual audio control panels – Single DME – Collins TWR-850 Turbulence Weather Radar

Tel: +44 (0)783 122 5440 E-mail: phil@hovercam.co.uk Always hangared. Upgraded nearly new C18B. Nearly new HTC rotor blades. Nearly new 10K boom / shaft Excellent times remaining. Annual inspection July 2019 Turbine Wash Kit Garmin GNC 300XL. Nav / Com King 196A. Com Garmin GMA 340 audio panel Trig mode S transponder 4K Cine camera gimbal available

www.AVBUYER.com

P131-136.qxp 18/03/2020 12:46 Page 3

Bombardier Learjet 36A

Leonard Price: Year: S/N:

M A R K E Tel: +1 (806) 662 5823 T Hudson Drilling Email: ronfernuik@hotmail.com P L Offer/Trade Learjet 36A, Long range capability, as configured 2,400 A nautical miles. Can be upgraded to 2,600 mile range.

C 1977 Recent paint and interior, RVSM. E 36A-030

Reg:

N160GC

TTAF:

15,600

Location: USA

BELL 412EMS

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

Leonard Hudson Drilling Price:

Offer

Year:

1981

S/N:

33017

Reg:

N554AL

TTAF:

15265

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

Full EMS Medical 4 patient and 4 attendant interior.

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

Both engines are fresh Pratt and Whitney overhauled.

Immediate delivery, Meticulous records.

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

Location: USA

BELL 212 (Five Available)

Leonard Hudson Drilling Price:

Please Call

Year:

1991-1996

S/N:

Call for details

Reg:

Call for details

TTAF:

Call for details

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

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

Beech King Air B200

AUGSBURG AIR SERVICE

Tel: +49 821 7003 143 E-mail: sales@aas-augsburg.de

Price: Year:

WANTED

S/N:

with Pro Line 21 Avionics, Raisbeck EPIC Kit + High Flotation Gear in good condition and at a fair price

Reg: TTAF: Location:

Beech Bonanza F33A

AUGSBURG AIR SERVICE

Tel: +49 821 7003 143 E-mail: sales@aas-augsburg.de

Price: Year:

1989

S/N: Reg: TTAF:

EU-Reg, Engine 630 h TSN, WX-500 Stormscope, 2x Garmin GTN750/650, King KFC150 AP, GTX-345R Mode-S XPDR, ILS/RNAV approach, Tip Tanks, Seats refurbished - in good condition!

2.070

Location:

www.AVBUYER.com

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M A R K E T P L A C E

Robinson R66

Mountain Flyers 80 Ltd Price:

$450,000 Excl. VAT

Year:

2014

S/N:

0553

Reg:

HB-ZOK

TTAF:

1870

Location: Switzerland

McDonnell Douglas Helicopter 520N

Mario Lauricella Price:

$950,000

Year:

1995

S/N:

LN067

Reg:

N105WF

TTAF:

940

Tel: +41 (0) 796 099 413 E-mail: christoph.graf@mountainflyers.ch

December 2014 manufactured and registered as first new Robinson R66 in Switzerland. 2014 in operation for sightseeing flights and flight school. No damage history. Always hangered. From beginning in CAMO of swiss operator. New Aspen Avionices EFD1000H Pro (with HSI) Display / changed September 2019 ***We are very motivated to sell the Helicopter due to a change of fleet!*** Airframe: Exterieur Base Color Red. Windshield, Standard. Door Windows, fwd, clear.

Door Windows, aft, clear. Engines: Rolls-Royce RR300. Avionics: FD, Aspen Avionices EFD1000H Pro (with HSI). COM2:Garmin GTR 225B. Interior Fabric and Color Tan Leather. Baggage Compartment Carpet IPad mount incl. power supply

Tel: +39 393 918 3639 E-mail: lauricellaconsulting@gmail.com Airframe TSN 940, Engine TSN 430 NDH warranty on the engine 1 year/ 300 hrs, fresh annual inspection, new fan straps

Location: Italy

Bell 206B III

Agrarflug HeliLift Price:

€500,000

Year:

1996

S/N:

4413

Reg:

D-HAFI

TTAF:

6.378

Tel: +49 (0) 2382 940 530 0 E-mail: c.billington@agrarflug-helilift.com Very good condition 1996 BELL 206B III. Serviced by a Bell Customer Service Facility. Always hangared. Predominantly used in aerial work. Flown regularly. No damage history. All documentation in order. Engines: TT: 10.421. Interior: New grey leather seats. Exterior: Blue/White. Equipment: Sliding side door. Leather seats. High Skid Landing Gear. Cable Cutters.

Extended Windows. K-Flex Driveshaft

Location: Germany

Airbus/Eurocopter AS 350B-2

Alex Dewsbery Price:

£850,000 Excl. VAT

Year:

1996

S/N:

2915

Reg:

G-WHST

TTAF:

2200

Location: United Kingdom

Airbus/Eurocopter AS 350B-3

H2I HELICOPTERS Price:

Please Email

Year:

2008

S/N:

4569

Reg:

F-XXXX

TTAF:

2245

Location: France

134 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

Tel: +44 (0)7525 726 455 E-mail: alex.dewsbery@toppesfield.com 2200 TT. VIP equipped. Immaculate condition. Very high spec.

Extremely long component times. Always hangared. New paint 03/19. New leather interior 03/19. Overhauled MR & TR gearboxes 03/19. New starflex 03/19. TR blades overhauled 11/19. Logo is a decal.

Highlights include- 2Axis Autopilot, Lynx L3 ADSB TCAS, VOR, NDB, DME, HSI, AI, Rad Alt, 2x Garmin comms, AKV cycle counter, HUMS, 6x Bose A20 Lemo, Gyro compass, USB front & Rear. Lead acid battery mod. Duals, Blanks, Tie downs. HISL, Sling loading provision, Float provision.

Tel: +33 (0) 617 675 405 E-mail: h2i.helicopters@gmail.com DIRECT OWNER. 2008 AS350 B3+ UTILITY - 2245 hours Since New / 6709 NG Cycles Since New. NO DAMAGE HISTORY / NO INCIDENT / NO ACCIDENT. AS IS WHERE IS. Last Importants exchanges : In May 2018, we have performed Exchange of Injenction wheel was performed by SAFRAN H.E. due to end of TBO : the new Injection Wheel has a TBO of 10.000 NG Cycles (instead of 6500 NG Cycles for the formerly model). So during this exchange SAFRAN HE has checked the engine and SAFRAN have also exchanged : Ensemble Turbine HP P/N 0292260510 ( price of parts 153 487€ ) + Man Force (Ce 2018 FCA Tarnos)

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P131-136.qxp 18/03/2020 12:46 Page 5

Airbus/Eurocopter EC 120B

M A R K E Tel: +31 (0) 652 407 808 T Heliair B.V. Netherlands E-mail: arno@heliair.nl P L Price: Please Call Nice EC120b with just completed tthe 6Y/72M inspection. Nice A interior and a high quality paintjob. Arrius 2F. MO1 690 hours C Year: 1999 remaining. MO2 2650 hours remaining and calender 2032. Cargo E Hook and Mirror. Dual Controls. Kardex available on request.

S/N:

1069

Reg:

PH-RBC

TTAF:

3350

Airframe: 6Y/72M inspection just completed. Engines: Arrius 2F. MO1 690 hours remaining. Avionics: Garmin GTN 225. Garmin GTX 327. Garmin GMA Audio Panel. Trig Y92 2nd VHF. RC Allen Horizon. Int: VIP leather interior. Ext: High Quality Paint.

Equipment: Cargo Hook and Mirror. Tie downs. Engine Covers

Location: Netherlands

Bell 206L 3

Price:

$895,000

Year:

1992

S/N:

515XX

Reg:

G-XXXX

TTAF:

2750.0

Location: Ireland

Airbus/Eurocopter AS 365N-3

Tel: +353 87 841 7092 E-mail: andrew.byrne@andonagroup.com

Andona Aviation

Lowest Time, Best Condition & Priced to Sell L-3 on the Market.

Available Immediatly. Corporate VVIP Configured. Immaculate, Complete Refurbishments Jun-2016, New 7 place Bell Corporate Deluxe Seating, Corporate Deluxe Trim Kit, Bare Metal Strip & Paint.

Always Hangared, Professionally Operated & Maintained. Complete Records from New. Only 2 Owners from New. Excellent Times.

Worldwide delivery facilitated. Recent Annual, 12M, 24M, 100H, 300H & EASA ARC completed Nov-2019. Avionics: King KLN90B GPS. PS PMA7000 Audio. King KX165A Comm. King KX155 Comm/Nav. King KR87 ADF. King KY76 Mode S Transponder

Tel: +44 (0)162 488 0135 E-mail: emma@nigelwatson.im

Nigel Watson Price:

Make Offer

Year:

2008

S/N:

6815

Reg:

M-LVIA

TTAF:

930

Only 930TT, 5 passenger VIP Cabin, blue and silver paint. Has exclusively been for VIP operation. Immediately available to view. Full valuation report and equipment lists available to interested parties. Well maintained; airworthy & operational with no damage history; fresh annual 4/19. Fully enrolled on PBH and SBH since new. Eng #1 - 931h; Eng #2 - 931h.

Proposals for refurbishments to paint and interiors available

Location: France

Airbus/Eurocopter EC 145

Tel: +44 (0)162 488 0135 E-mail: emma@nigelwatson.im

Nigel Watson Price:

Please Call

Year:

2009

S/N:

9242

Reg:

M-LUNA

TTAF:

1382

Only 1382TT, 7 passenger VIP Cabin, blue and silver paint. Has exclusively been for VIP operation. Available from November 2019. Full valuation report and equipment lists available to interested parties. Well maintained; airworthy & operational; fresh annual 7/19. Fully enrolled on PBH and SBH since new.

Eng #1 - 1382h; Eng #2 - 1375h. Proposals for refurbishments to paint and interiors available

Location: France

Airbus/Eurocopter EC 130B4

Philjets Aero Services Price:

Make Offer

Year:

2012

S/N:

TBA

Reg:

TBA

TTAF:

660

Location: Singapore

www.AVBUYER.com

Tel: +63 (0)928 559 9326 E-mail: abigail.macabit@philjets.com

Stunning EC130 B4 with low hours and very well Equipped, in Stylence configuration. - emergency float (complete installation) - Airconditioning System - Inlet Aerial Filter - Dual Control - Engine flushing device. Always hangarage, one miticulous owner since new and All major maintenance performed by the OEM. Airframe and Engine components run sheets available upon request. Airframe: Fresh Annual Inspection to be carried by the owner in the next weeks. Engines: 600 hours engine inspection done. Engine MO3 and MO5 calendar due in 2031 with closed to 3000hrs remaining.

Ext: In great condition 8/10. Ext: In perfect condition 9/10

AVBUYER MAGAZINE R Vol 24 Issue 4 2020 R

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M A R K E T P McDonnell Douglas Helicopter 369 L A C E

Tel: +44 (0)167 386 3525 E-mail: rmb@skydock.co.uk

Richard Briggs Price:

Please Call

Year:

1987

S/N:

9103425

Reg:

G-BPLZ

TTAF:

5649

369HM 1972 TTAF 5649 Good maintenance records and always hangared.

In very good overall condition with C18 Turbine having done only 200 hours Contact Richard at skydock 01673 863 525

Location: United Kingdom

Tel: +61 040 400 7234 E-mail: rich@glenample.com.au

12 AH

Bell 505 Jetranger Price:

$1,250,000 Plus Tax

Year:

2018

S/N:

65130

Reg:

VH-ZVJ

TTAF:

600

Factory fitted floats Leather interior Dual VHF radios Bell warranty to August 2021 Coin flooring Nil Damage Great Condition

Location: Australia

Leonardo AW109SP Grand New

Tel: +7 962 920 7390 E-mail: bjetsale@gmail.com

Roman Zuykin Price:

Make Offer

Year:

2013

S/N:

22314

Reg:

RA01986

TTAF:

620

Location: Russian Federation

URGENT SALE. Looks just like accepted from the factory. Airframe – Aluminium alloy / composite material and bonded panel fuselage – Semi-monocoque aluminium alloy tail boom – Three-wheeled retractable landing gear – Two hinged jettisonable crew doors (LH and RH) – Two sliding passenger doors (LH and RH), 1.40 m opening, with jettisonable windows. INGLE PILOT DUAL CONTROLS IFR AVIONIC PACKAGE – Pilot flight/navigation EFIS (2 displays) with embedded FMS, Synthetic Vision (SVS), HTAWS (Helicopter Terrain Awareness and Warning System), slip indicator and Remote Bug Panel (RBP). Int: "Elite" interior - 5 places Passenger cabin

Tel: +49 (0) 712 1695 8882 E-mail: abg@ga-management.de

GA-Management

Bell 407

Price:

Make Offer

Year:

1999

S/N:

53337

Reg:

OEXIP

TTAF:

1300

New Avionic package, fully equipped with Garmin G 500 suite, GTN750H, HeliSAS, full leather interieur. Airframe: Paint 8/10.

Always hangared. Engines: Fresh 60-MO-Inspection on gearbox etc. Avionics: Garmin G500H suite, GTN 750H, HeliSAS. Int: 6seat leather interieur, rated 8/10. Ext: Blue, white with minimum chips and dents, rated 8/10. This is a pilots aircraft, equipped with everything that is needed!

Location: Germany

Alberth Air Parts

+1 832 934 0055

Spare Parts

Par Avion Ltd FALCONS • HAWKERS • LEARS

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

www.alberthaviation.com

www.paravionltd.com SALES • ACQUISITIONS • CONSULTING

Fax: +1 832 934 0011 136 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

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P137.qxp 19/03/2020 09:30 Page 1

JETAPPRAISALS Performed by Accredited Senior Appraisers

877.531.1450 jetappraisals.com

Desktop Aircraft Appraisals / On-Site Asset Verification and Logbook Review Residual Values / Customized Analysis Advertiser’s Index 1

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1st Source Bank................................................109

Donath Aircraft Services.....................................73

Leading Edge Aviation Solutions......................79

Aircraft BlueBook...............................................137

Duncan Aviation ...........................................24 - 26

Lone Mountain Aircraft........................................57

Aircraft Finance Corporation .............................13

Eagle Aviation........................................................43

Mesotis Jets ........................................................126 NAFA ....................................................................100

Airfleet Capital....................................................105

ElliottJets ...............................................................81

Al Jaber Aviation.................................................129

Engine Assurance Program ...............................99

OGARAJETS................................................28 - 29

Aradian Aviation....................................................85

Freestream Aircraft ..............................................45

Par Avion ................................................................35

AvBuyer ..................................................................19

Genel Havacilik ..................................................127

Partners in Aviation............................................117

Avjet Global ................................................. 20 - 21

General Aviation Services ..................................53

Pratt & Whitney .....................................................97

Avpro ..............................................................14 - 18

Global Jet Capital ..............................................113

Rolls Royce Corporate Care................................4

Avsure Title Insurance.................................70 - 71

Global Jet Monaco........................................ 5 - 11

San Marino Aircraft Registery..............1, 64 - 65

Boutsen Aviation ..................................................83

Hatt & Associates.................................................33

SkyWorld Aviation ................................................91

Bose ........................................................................95

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Sparfell & Partners ......................................38 - 39

Central Business Jets .......................................139

Jetcraft Corporation ...........................36 - 37, 140

The Jet Business..........................................30 - 31

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Jeteffect .........................................................48 - 49

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Corporate Concepts ...........................................63

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AvBuyer (USPS 014-911), April 2020, Vol 24 Issue No 4 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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Aircraft For Sale • AIRCRAFT • HELICOPTERS

AIRCRAFT

PAGE

AIRCRAFT

AIRBUS

CESSNA

A318 Elite . . . . . 5 A319 . . . . . . . . . 5 A380-800 . . . . . . 39

Citation

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 31, 140 BBJ2 . . . . . . . . . 5 BBJ3 . . . . . . . . . 45 737-200 . . . . . . . 63 737-300 . . . . . . . 63 757 . . . . . . . . . . . 21 787-9. . . . . . . . . . 140

BOMBARDIER Global 5000 . . . . 36, 83, 131, 140 Global 6000 . . . . 8, 9, 140 Global 7500 . . . . 5 Global Express . 14 Global Express XRS. 10, 11, 14, 30, . . . . . . . . . . . . . . . 37, 140

Challenger 300 . . . . . . . . . . . 7, 14, 15, 36, 53, 81, . . . . . . . . . . . . . . . 140 350 . . . . . . . . . . . 14, 83, 140 601 3A . . . . . . . . 15 601 3A-ER . . . . . 25 601-3R . . . . . . . . 25, 126 604 . . . . . . . . . . . 15, 36 605 . . . . . . . . . . . 15, 21, 24, 30, 36, . . . . . . . . . . . . . . . 53, 140 650 . . . . . . . . . . . 48, 140 850 . . . . . . . . . . . 5, 36

Learjet 31A . . . . . . . . . . . 69 35A . . . . . . . . . . . 69 36A . . . . . . . . . . . 133 40XR . . . . . . . . . . 69, 81 45 . . . . . . . . . . . . 16, 57 45XR . . . . . . . . . . 16, 33, 49, 81 55 . . . . . . . . . . . . 17, 69 60 . . . . . . . . . . . . 16, 53 60SE . . . . . . . . . . 139 60XR . . . . . . . . . . 77 70. . . . . . . . . . . . . 77 75. . . . . . . . . . . . . 37, 81

PAGE

II . . . . . . . . . . . . . 69 III . . . . . . . . . . . . . 69 V. . . . . . . . . . . . . . 43 VII . . . . . . . . . . . . 49 X . . . . . . . . . . . . . 17, 43, 49, 57 X +. . . . . . . . . . . . 140 XLS . . . . . . . . . . . . 5, 17, 24 CJ1+ . . . . . . . . . . . 81 CJ2. . . . . . . . . . . . . 126, 140 CJ2+ . . . . . . . . . . . 35, 79 CJ3. . . . . . . . . . . . . 25, 35, 69, 77, 81 CJ3+ . . . . . . . . . . . 35 CJ4. . . . . . . . . . . . 39, 49 Bravo . . . . . . . . . 132 Encore . . . . . . . . 17, 49, 131, 139 Excel . . . . . . . . . . 29 Jet . . . . . . . . . . . . 29, 43, 126 Mustang. . . . . . . . 25 Sovereign. . . . . . 43, 83, 131 Sovereign+ . . . . 25, 37 182T . . . . . . . . . . 43 206H . . . . . . . . . . 43, 69 340A RAN VI . . . 43 T201N . . . . . . . . . 69 Ultra . . . . . . . . . . . 69 500 . . . . . . . . . . . . 69

CIRRUS SF50 . . . . . . . . . . 57

DAHER SOCATA TBM700A . . . . . . 83 TBM700B . . . . . . 43 TBM930 . . . . . . . 81 TBM940 . . . . . . . 81

DASSAULT FALCON 7X . . . . . . . . . . . . 3, 5, 15, 25, 45, 83, . . . . . . . . . . . . . . . 139, 140 8X . . . . . . . . . . . . 2, 15 20C-5AR. . . . . . . 69 20F-5BR . . . . . . . 81 50 . . . . . . . . . . . . 16, 28, 48, 69, 83, . . . . . . . . . . . . . . . 139 50EX . . . . . . . . . . 16 900B . . . . . . . . . . 37, 132 900DX . . . . . . . . 53 900DX EASy . . . 5

AIRCRAFT

PAGE

AIRCRAFT

900EX . . . . . . . . . 25, 63 900EX EASy . . . 15, 16, 25, 30, 48 900LX . . . . . . . . . 37, 131, 140 2000 . . . . . . . . . . 15 2000EX EASy . . 30, 33 2000LX . . . . . . . . 73 2000LXS. . . . . . . 2

EMBRAER Legacy 450 . . . . 43, 140 Legacy 500 . . . . 16, 26, 140 Legacy 600 . . . . 39 Legacy 650 . . . . 140 Lineage 1000 . . 39, 129 Lineage 1000E . 83, 139 Phenom 100 . . . 29, 37 Phenom 100E . . 26 Phenom 100EV. 29 Phenom 300 . . . 5, 81

PAGE

Hawker 400XP . . . . . . . . . 29, 41, 69 750 . . . . . . . . . . . 41 800A . . . . . . . . . . 132 800XP . . . . . . . . . 16, 24, 28, 39, 49, . . . . . . . . . . . . . . . 69, 77 800XPi . . . . . . . . 16, 140 900XP . . . . . . . . . 16, 29, 79, 81, 85 4000 . . . . . . . . . . 77

HONDA Jet HA 420 . . . . . 81

IAI Astra 1125SP . . 139

PIPER Cheyenne IIIA . . 69 Saratoga . . . . . . 69

GULFSTREAM IVSP . . . . . . . . . . 48, 77, 85 V. . . . . . . . . . . . . . 14, 31, 53, 63, 85 150 . . . . . . . . . . . 79, 128, 131 200 . . . . . . . . . . . 14, 83 280 . . . . . . . . . . . 28, 33, 79, 139 450 . . . . . . . . . . . 5, 14, 21, 37, 73, 79, . . . . . . . . . . . . . . . 85 500 . . . . . . . . . . . 20, 79 550 . . . . . . . . . . . 14, 21, 28, 31, 39, . . . . . . . . . . . . . . . 45, 48, 79, 83, 85 650ER. . . . . . . . . 6, 21, 45, 48, 140

HAWKER BEECHCRAFT King Air

HELICOPTERS AIRBUS/ EUROCOPTER AS 350B-3 . . . . . 134 AS 365N-3 . . . . . 135 EC 130B4. . . . . . 135 EC 120B . . . . . . . 85, 135 EC 145 . . . . . . . . 83, 135

AGUSTAWESTLAND AW109S Grand. 39, 136 AW109SP . . . . . . 25

BELL

200XPR . . . . . . . 69 300 . . . . . . . . . . . 81 350i . . . . . . . . . . . 33 A100 . . . . . . . . . . 69 B100 . . . . . . . . . . 41 B200 . . . . . . . . . . 132, 133 C90 . . . . . . . . . . . 140 C90B. . . . . . . . . . 69 C90GT . . . . . . . . 81

206B . . . . . . . . . 134 206L3 . . . . . . . . . 135 212 . . . . . . . . . . . 133 407 . . . . . . . . . . . 127, 136 412EP . . . . . . . . . 85 412EMS . . . . . . . 133 505 JETRANGER 136

Beechcraft

Hughes 369. . . . 132, 136 520N . . . . . . . . . . 134

B60 Duke . . . . . . 69 Premier I . . . . . . 85 A36 Bonanza. . . 41 F33A Bonanza. . 133

MD

ROBINSON R66 . . . . . . . . . . . 134

The best aircraft for sale search anywhere, everywhere - on pc, smartphone and tablet

Copy date for the May Issue - Wednesday

138 Vol 24 Issue 4 2020 AVBUYER MAGAZINE

April 2020

www.AVBUYER.com

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General Offices

Mexico office

Minneapolis / St. Paul

TEL: 52.55.5211.1505

TEL: (952) 894-8559

CELL: 52.55.3901.1055

FAX: (952) 894-8569

E-MAIL: Enrique@CBJets.com

EMAIL: INFO@CBJETS.COM

2015 Falcon 7X SN267

Embraer Lineage 1000E SN190-00611

8X Replacement makes this Aircraft Available Now, Will Deliver with United States C of A, Will Deliver with New Paint and Interior, Heads Up Display / Enhanced Vision / Synthetic Vision / Etc / Etc / Etcâ&#x20AC;¦

Only 1075 Hours and 450 Cycles Since New; Preferred 19 Passenger Interior, World Wide Ready, Transferrable Warranty and Maintenance Programs

D L SO 2014 Gulfstream G280 SN2039

2004 Falcon 2000EX Easy II SN040

Single owner since new, Enrolled in all Programs (Honeywell MSP Gold & Gulfstream Planeparts), 1,628 Hours, 502 Landings, 4 Year Heavy Check completed at Gulfstream Appleton, FANS/CPDLC, ADS-B, WAAS/LPV, Well maintained, 9 place interior

ESP Gold on Engines, WAAS/LPV, ADS-B Out, CPDLC-FANS/1A, Increased Max Take Off Weight

D L SO 2005 Lear 60SE SN282

Citation Encore SN646

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

Cessna Power Advantage on airframe and Engines, Proparts, CESCOM, No damage history

Falcon 50 SN163

Astra 1125SP SN048

MSP Gold on Engines, Enrolled on CASP Avionics Program, New Exterior Paint August 2018 at WestStar, New Carpet and seat conditioning September 2018

Exceptional Pedigree, Airshow 410, Extension Fuel Tanks, External Lav Service, Increased Gross Weight Mod, AirCellST3100 Iridium Radio Telephone

www.cbjets.com ALSO AVAILABLE: Falcon 900EXy SN238 (Lease Only)

This being the aviation industry, you’d think more companies would share our

51,000

The smoothest connection to your next aircraft.

2009 DASSAULT FALCON 7X

foot view. S/N 041

• 5,173 Hours; 1,659 Landing

• Engines & APU view Enrolled on Programs Up here, the air and the competition are rare.

Our birds-eye of the • EASy II+ Avionics Package

aircraft brokerage market comes from our unmatched combination of nearly 50 years’ experience and a large, global network of partners and customers. That means you have more buy, sell and trade options.

Better perspective on market trends. And worldwide connections that

A passionate team of aviation experts, our strategic approach and action-oriented thinking have made us the global leader for aircraft sales and ownership services.

With our worldwide network and inventory, industry connections and regional presence, we are the difference between getting an aircraft… and getting your aircraft.

put a tailwind on your transaction. Call us and see. You’ll love the view.

2011 EMBRAER LEGACY 650

www.jetcraft.com I info@jetcraft.com I Headquarters +1 919-941-8400 S/N 14501142

• 2,389 Hours; 1,257 Landings • Engines Enrolled on RRCC • Fresh 96 Month Inspection

2012 BOMBARDIER CHALLENGER 605 S/N 5891

2019 EMBRAER LEGACY 450 S/N 55010059

• 1,664 Hours; 945 Cycles • Dual Internet Systems • Pro Line 21 Advanced

• New Delivery Aircraft • G ogo L5 AVANCE High Speed Internet • CPDLC and ADS-B Out

2010 BOMBARDIER CHALLENGER 300 S/N 20282

2018 BOMBARDIER GLOBAL 6000 S/N 9762 • 1,690 Hours; 598 Landings • 2020 Compliant and Ka-Band Internet • 15 Pax Configuration with Shower

ALSO AVAILABLE

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

• 3,418 Hours; 3,167 Cycles • Engines & APU on MSP • WAAS/LPV | ADS-B Out

I N FO @ JETC RAF T. CO M

4-2020_AVBuyer_Back Cover_Smoothest Connections.indd 1

ALSO AVAI L ABLE 1994 KING AIR C90B FEATURED 2015 BOEING 787-9 2001 BOEING BUSINESS JET 2019 CHALLENGER 350 2009 CHALLENGER 605 2016 CHALLENGER 650 2009 GLOBAL 5000 2018 GLOBAL 6000 2011 GLOBAL XRS 2003 CITATION CJ2 2014 CITATION X+ 2013 FALCON 900LX 2006 HAWKER 800XPI 2016 GULFSTREAM G650ER 2018 LEGACY 500

+ 1 9 1 9 9 4 1 8 4 00

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