AvBuyer Magazine February 2021

FC February The Registry of Aruba.qxp_FC December 06 28/01/2021 09:18 Page 1

Volume 25 Issue 2 2021

™

ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION

THIS MONTH

What’s the Latest on the Cessna Citation Light Jet Market?

Jet Comparison: Embraer Praetor 600 vs Legacy 500

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Fli M pO RO ve In r to du R st ea ry d Gu ou id r e

FROM BEACH TO BLUE ICE

Buying an Older Jet? Avoid the Surprises

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Editor Welcome.qxp_JMesingerNov06 25/01/2021 13:54 Page 1

Guest Editor’s VIEWPOINT Richard Koe, WINGX Advance

Pandemic Could Accelerate Rise in On-Demand Aviation ne quarter fewer business jet sectors were flown in 2020 compared to 2019. In any other year that would represent a devastating repudiation. But in 2020 the erosion in private jet sectors was barely half that seen in scheduled airline traffic.

In Europe, passenger airline arrivals have fallen 70% since the pandemic, whilst General Aviation was down by just over 20% for the full year. And, while airline activity saw only a feeble improvement as lockdowns were alleviated in the summer, the relaxation of travel restrictions saw an immediate surge in Business Aviation activity. August leisure travel in Europe actually exceeded flight demand in August 2019.

The initial impact of the spring 2020 lockdown was on the supply of aviation services, not the demand. But as the first virus wave passed, pent-up demand for flights resurged, with declines in year-on-year business jet activity narrowing from 70% in April to 15% in July.

As airlines struggled to reactivate fleets, the share of all fixed-wing flight activity operated by business jets and turboprops climbed from scarcely 10% in 2019 to more than 30%. The US trailed the initial recovery curve seen in Europe, but from mid-Summer business jet demand came surging back for the Public Holidays.

The resilience in Business Aviation clearly owes to its ondemand utility. Only a relatively small proportion of the operational fleet has been taken out of service, allowing operators to respond quickly to the first signs of recovery. This is essential in a world where the scope for travel has been dramatically redefined in the short-term, and by consumer and business demand for the longer-term.

Corporate travel has been grounded, at least across the mass market of middle-tier management. Conversely, leisure travel is pent-up, and through 2020 manifested in unprecedented demand for flights to remote getaway locations.

O

Negative Optics Offset in 2020?

Following the 2008/09 recession, the biggest constraint on business jets has been optics; the toxic image of conspicuous consumption allied to a growing concern for the environment.

Those negative issues haven’t gone away, but there’s been a positive offset in 2020, and on-demand aircraft have been used on a huge range of medical, humanitarian, government, and

business-critical missions.

Hygiene concerns on traditional mass-transit transportation has brought new users to Business Aviation, and the negative connotation of flying private could get repositioned as a responsible way to move executives.

Besides health concerns, the key driver for Business Aviation’s resilience is connectivity. Business Aviation has historically provided more connectivity than the airline network, with three times more unique airport pairs in Europe, and ten times the number in the US. And, since the pandemic, as airline networks have recoiled, the on-demand reach of Business Aviation has only increased.

The Lasting Shift?

While the shift in route preferences may only be short-term, reverting to more familiar networks as the corporate market recovers, other changes could prove more permanent.

For example, the crisis has likely increased the user market’s preference for charter services, proliferating across card, membership, and traditional ad hoc demand. Meanwhile, digital platforms are providing market transparency, taking business jet services into the mainstream.

Lifestyle service providers will look to integrate business jet connections into their wider package of services, and we should see an acceleration of market consolidation (possibly with a ‘Premier League’ of international operators resembling airlines in terms of fleet size, but comprehensively organised around ondemand passenger services. The acquisition of Mountain Air by Wheels Up is a case in point).

Looking Ahead in 2021…

The winter virus waves are likely to maintain significant travel restrictions through spring in the key European and US business markets, suppressing any recovery in scheduled airlines. But Business Aviation should prove resilient, especially around leisure destinations.

Even as the world reopens for business in the second half of 2021, a large chunk of business travellers will stay home, and airline networks will be commensurately eroded, meaning that over the year, Business Aviation has an historic opportunity as executives, business owners and entrepreneurs get back on the road. ❙

Richard Koe is a Managing Director of WINGX Advance. From online analytics dashboards to offline consulting, WINGX aims to provide industry-leading decision-making tools for executives across the aviation supply chain. More information from www.wingx-advance.com

4 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

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21.01.2021 13:51:26

Contents Layout FEB21.qxp 27/01/2021 14:54 Page 1

Vol.25 Issue 2

Contents

2021

Guest Editor

Richard Koe, WingX Advance

4

Market Indicators

Trends and Observations from Leading Business Aviation Analysts

12

Market Insights

Interview With Dave Coleman, Duncan Aviation

30

What’s the Latest on the Citation Light Jet Market?

34

Buying & Selling Aircraft

Older Jets: How old is too old?

38

Buying an Older Jet? Avoid the Surprises

42

Ownership

Fuel Cards: Are you Making the Most of Them?

48

Jet Comparison

Embraer Praetor 600 vs Embraer Legacy 500

52

Aircraft Price Guide

Mid-Size Jet Aircraft Values

60

Flight Department Management

Integrate the Right Jet Into Your Flight Department (Pt 2)

66 70

How a Single Pilot can Offset Risks in a BizAv Cockpit (Pt 1)

76

OEM News and Industry Appointments

81

Showcases

86

Marketplace

89

Advertisers Index

90

Aircraft for Sale Index

Community News

ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION MRO

MRO SPECIAL

INDUSTRY GUIDE FEBRUARY 2021

I How to Plan and Maximize Your Next MRO Visit I Your Engine Overhaul FAQs, Answered by the Experts I Should You Overhaul, Replace, or Upgrade Your Engines?

I Cabin Refurbishment: How to Set the Right Tone I Cabin Connectivity Priorities for MRO Downtime I Are you Getting the Best from Your Flight Panel?

Read our MRO Special Industry Guide starting from the back cover of this edition

I Inside Dassault’s New Spare Parts Distribution Center

Next Month

• What’s the Latest on the Dassault Falcon Jet Markets?

• Five Ways to Reduce Your Operating Costs

• What to Know When Choosing Your Next CMS 8 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

EDITORIAL Commissioning Editor Matthew Harris +44 (0) 20 8939 7722 editorial@avbuyer.com Editorial Contributor (USA Office) Dave Higdon dave@avbuyer.com ADVERTISING Steve Champness - Publisher Americas +1 770 769 5872 steve@avbuyer.com Ricky Gioconda Account Manager +1 919 434 1364 ricky@avbuyer.com Lise Margin Account Manager +1 703 818 1024 lise@avbuyer.com David Olcott Account Manager +1 802 233 6458 davo@avbuyer.com Maria Brabec - Account Manager EMEA & APAC Aircraft & Services Sales +420 604 224 828 maria@avbuyer.com STUDIO/PRODUCTION Helen Cavalli / Mark Williams +44 (0) 20 8939 7726 helen@avbuyer.com mark@avbuyer.com CIRCULATION Sue Brennan +44 (0) 20 8255 4000 Freephone from USA: +1 855 425 7638 sue@avbuyer.com 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

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MARKET INDICATORS

Business Aviation Market Overview Who will be the winners of 2020 once pre-owned aircraft sales are stacked up against 2019? Brian Foley, Editor, Market Indicators reviews some of the preliminary data… hile the final 2020 pre-owned aircraft sales numbers are still awaited, a couple of resources would suggest that it will have been a pretty good year for those in the Business Aviation industry.

Perusing the International Aircraft Dealers Association’s (IADA’s) November 2020 Dealer Activity Report, according to brokers in the trenches, pre-owned deals that fell apart in November 2020 were around 70% fewer than deals whose wheels fell off in April 2020.

Further, the number of deals under contract doubled between April and November, a positive indicator, for sure.

It also seems that price decreases have taken a breather, with upwards of 50 brokers reporting lowering prices in May 2020, compared to just seven in November.

In addition, they reported a healthy log of acquisition agreements, exclusive sales arrangements, and, most importantly, 131 deals under contract. IADA surveys its

W

12 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

constituents monthly on how the pre-owned market is going. Based on results, it is anticipated that 2020 will prove to have been a solid year.

While the AMSTAT numbers are still coming in, 2020 had already surpassed 2019 with nearly 2,100 worldwide pre-owned business jet transactions. For turboprops, it’s anticipated that sales will have been below 2019 figures, but not by a huge margin.

In contrast, for those tracking turbine helicopters, 2020 will have been a disappointment given the oil and gas sector upheaval, with energy prices tanking.

Growth in Sales Spreads Across Most Regions

It’s interesting to note where the 2020 jet sales momentum occurred from a regional perspective. While it will still take several weeks for the transaction paperwork to enter the system, there has been enough logged to begin to show a trend.

As might be expected, North America prevailed in 2020 by registering more pre-owned business aircraft

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TABLE A : Worldwide Pre-Owned Business Jet Sales by Region

North America Western Europe

2019

2020

CHANGE

1,609

1,774

10.3%

146

143

-2.1%

Asia

23

19

-17.4%

Oceania

12

17

41.7%

Eastern Europe

13

40

207.7%

Middle East/Africa

43

31

-27.9%

South America

92

116

26.1%

TBD

47

49

--

1,985

2,189

10.3%

Tota l

Source: AMSTAT (as of Jan 20, 2021 – additional transactions pending due to registry lag)

TABLE B: Worldwide Pre-Owned Business Jet Sales by Cabin Size

2019

2020

CHANGE

Small

830

943

13.6%

Medium

669

728

8.8%

Large

486

518

6.6%

Tota l

1,985

2,189

10.3%

Brian Foley formed Brian Foley Associates (BRiFO) in 2006 to assist aerospace firms and investors with strategic research. In addition to his work as Market Intelligence Editor, AvBuyer, he is a regular contributor for Forbes.com and his views are published in the media worldwide.

Currently, Brian serves the Transportation Research Board as a member of the Business Aviation, helicopter, commercial airline and UAV system subcommittees, and he previously served on the Board of a Wall Street financial firm. Before starting his consultancy business, Brian was marketing director at Dassault Falcon Jet for 20 years, and started his career at Boeing. He is an instrument-rated private pilot. https://www.linkedin.com/in/brifo/

Source: AMSTAT (as of Jan 20, 2021 – additional transactions pending due to registry lag)

“What some may find surprising is that Large Jet sales did not decrease year-over-year, but were simply drowned out by the activity spike in Light and Mid-Size Jets.” sales than in 2019. This is important given that the region is the largest market in the world, with transactions clocking in at almost 10 times the next largest market.

The Australia and South America regions have already registered increases over 2019. Eastern Europe is a standout as having more than twice the number of transactions last year (albeit from a very small base). And, although it is still too soon to call in Western Europe, sales should be roughly on par with 2019’s.

Asia, however, took a header with sales decreasing, as did the Middle East/Africa regions.

Sales by Jet Category

Those who are in the pre-owned aircraft brokerage business or have kept up with the industry’s press won’t be surprised that Light and Mid-Size Jet sales outpaced Large Jet sales.

Much of this can be subjectively attributed to the falloff in international flights, for which Large Jets are best suited, due to foreign border lockdowns and travel restrictions.

What some may find surprising is that Large Jet sales

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did not decrease year-over-year, but were simply drowned out by the activity spike in Light and Mid-Size Jets.

Objectively, and again with the inherent registry lag, AMSTAT has thus far verified that Light and Mid-Size Jet sales outpaced 2019 by 14% and 9% respectively; percentages which are sure to climb by the time the final registrations are filed in the coming months.

As noted ‘heavy’ (Large Jet) pre-owned sales did not decrease in 2020. As more registrations trickle in, these sales will continue to outpace 2019, but by a smaller margin than either Light or Mid-size Jets.

In all, IADA and AMSTAT data plainly suggest that despite a worldwide pandemic, 2020 will outgun 2019, which by itself was a pretty good year. All eyes are now on 2021, which from the looks of things should continue the march forward.



MI www.brifo.com

AVBUYER MAGAZINE Vol 25 Issue 2 2021

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MARKET INDICATORS

AVBUYER.com

Business Aviation Global Flight Activity

Following a surge in business jet demand over the Christmas holiday period, the Year-on-Year (YoY) trend in global flight activity came in around 11% below December 2019, the best comparative performance since the pandemic broke out. WingX Advance reports…

At its peak of just over 12,000 flights on December 23rd, the rolling 7-day average daily activity surpassed the previous post-March high point. By contrast, scheduled airline traffic was down by 48% this December.

Since the pandemic, scheduled passenger movements are down by 63%, whereas Business Aviation – jets and turboprops – flew 29% less than in 2019 over the same period.

United States Activity

Two-thirds of worldwide Business Aviation activity in December originated in the US. Flights in the US during December were down by 10% YoY, an improvement on the 16% YoY decline in November.

• Charter activity continued to be robust, with sectors down by only 7% YoY, while branded charter flight hours were up by 2% YoY. • Aircraft Management operations were also robust, off 6% and inflated by third-party charters.

14 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

•

Private operations lagged at 17% below normal, largely due to stillidle corporate flight departments.

Florida shone as the busiest State, with 12% more flights than in December 2019. Flights into Arizona were also up, by 10% YoY. In contrast, California is the laggard. There, continued lockdown measures suppressed recovery at 80% of normal. Texas, meanwhile, got a lot closer to recovery in December, and departures were down by only 6% YoY. The driver for the Christmas holiday surge from the US was clearly demand for getaway locations. Flights from the US to Mexico were up by 17%, and other Caribbean destinations saw a major rebound in US tourism.

European Activity

In Europe there were 40,000 Business Aviation sectors operated in December – 6,000 fewer flights (or 13% less) than in December 2019. As with the US, this marked a rebound on 20% declines in November, regaining the recovery path seen in October.

•

Again, the resilient sector is Charter, with branded operators flying 7% below normal, but up 1% in hours.

•

Private operations, mainly aircraft owners, were also resilient, flying more than 90% of normal.

• Cargo-specific Business Aviation aircraft were 18% busier than last year.

The growth didn’t come from the leading markets, however. Departures from France and Germany fell almost 20%, while Italy was down 25%, and the UK down 30%. The market was buoyed

by Spain, Russia and Turkey. Flights within Turkey were up 25%, and there was also strong growth in connections from Turkey to Russia, UK, Albania, and Greece.

“The first half of December was stagnant, but the holiday period demonstrated the enduring demand for Business Aviation to reach leisure getaway destinations,” notes Richard Koe, Managing Director, WingX. “This is obvious in the Caribbean for the US market. In Europe, the lockdowns have suppressed this pentup demand to a large extent, with the ski season postponed at best. In Russia and Turkey, stronger flight activity suggests that Business Aviation is filling in gaps left by the erosion of scheduled services.”

MI www.wingx-advance.com

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MARKET INDICATORS

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IADA: Pre-Owned Aircraft Transactions Spike

Following the abrupt pandemicinduced plunge in pre-owned aircraft sales in March 2020, members of the International Aircraft Dealers Association (IADA) experienced a rising wave of transactions, highlighted by a Q4 surge of 554 closed deals…

IADA began tracking sales metrics in April on a monthly basis as a result of the volatile used aircraft sales transactions caused by the impact on the economy from the COVID-19 contagion.

“In total, IADA dealers accounted for 1,011 transactions in the April-

December time period, not counting pre-owned aircraft sales handled by our OEM members,” notes IADA Executive Director Wayne Starling.

“Our dealers registered 285 sales in December alone, by far the most active month of the year and double any other COVID-19 impacted month.”

Looking towards 2021, IADA dealers ended the year putting another 74 aircraft ‘under contract’ in December.

Strikingly, dealers reported that only 36 of the 554 transactions closing in Q4 2020 involved lowered prices.

Marking a return to stabilized prices, this contrasts with 45 deals that involved aircraft with lowered prices on sales of 174 aircraft in Q2 2020 – the time when the industry began its recovery from the unprecedented plunge in activity during March.

“While it is way too early to say the industry has rebounded completely – as the pandemic is still raging – the activity in the pre-owned aircraft marketplace is certainly trending upwards across all of our dealers,” Starling concluded.

MI www.iada.aero

2020 Review for Pre-Owned Gulfstream Aircraft Hagerty Jet Group provides an overview of the used Gulfstream marketplace in 2020, highlighting some notable markets…

While US election years are traditionally challenging for pre-owned business jet markets and 2020 started off a bit slow, transactions had already tapered-off by H2 2019. Inventory had started to rise by Q1 2020, and, by the time the US went into lockdown in March, inventory levels were peaking in many markets. Supply was at a 36month high.

Many deals that were already in progress either fell apart or managed to close with major price concessions.

Like the rest of the world, the entire industry paused for most of April and May. A few motivated sellers paved the way for a resumption by slashing prices, and eventually the bravest of buyers were attracted in a first wave of transactions. Once we saw enough transactions in Q3 2020 to establish new pricing, the remaining sellers started to accept the new market conditions, and many dropped their price expectations.

The most aggressive buyers took advantage to get the best deals. In late summer and early fall, activity had picked up significantly, with buyers scrambling to snap up the best airplanes for sale that were priced accordingly.

18 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

Gulfstream G550 Market Benchmark

Often the benchmark for the Gulfstream pre-owned models, with nearly 600 airplanes in the fleet, Gulfstream G550 supply peaked at 48 aircraft for sale in Q2 2020 (8% of the fleet), but 10 transactions in Q3 proved that demand was back. Supply dropped modestly to 42 as more aircraft were added to the market, however.

We saw an explosion of activity in Q4, and 21 G550 transactions closed before the end of the year with another eight deals pending at the start of 2021. Supply stood at net 20 airplanes for sale – a 60% drop in supply in January 2021. Prices have flattened, and have the potential to increase.

Gulfstream G650 Market Record

The Gulfstream G650 market saw the highest amount of pre-owned transactions in the history of this model in Q4 2020 following a record supply

of 24 aircraft for sale in Q3. There were 13 G650 transactions in Q4 with one deal still pending.

Supply was cut in half to 12 aircraft for sale. Less than 3% of the fleet remains for sale and most of the remaining sellers in this segment are based internationally.

Gulfstream GIV-SP Market Astounds The Gulfstream GIV-SP market saw a staggering 20 transactions in Q4 following 12 transactions in Q3.

Transactions were at an all-time high in Q4, and, with only 5% of the fleet available for sale, buyers will struggle to find quality aircraft in this segment while pricing has stabilized.

Projection: Hagerty Jet Group expects demand to generally remain strong in 2021, but buyers are likely to be frustrated by the lack of inventory, which may cause a bottleneck over the next few months, the company warns.

MI www.hagertyjetgroup.com page 22



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CHARTER TRADING SALES & ACQUISITIONS LEASING DESIGN

1995 CITATION ULTRA S/N 280

2014 CITATION CJ4 OFF-MARKET

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

3’195 TT, ADS-B Out v2, T-CAS 7.1, Airframe & Engines on Programs,EASA, 9 Pax, WAAS, LPV, One Owner since New.

JUST SOLD

JUST SOLD

2007 CITATION CJ2+ S/N 525A-0341

2014 LEGACY 650 S/N 1194

5’620 Hours, Engines on TAP Blue, Recent 600H Check, New Paint and Interior in 2017

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

Make Offer

Just Sold

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Just Sold

MOTIVATED SELLER

2011 PHENOM 300 S/N 50500062

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

Make Offer

CHARTER - TRADING - SALES &

ACQUISITIONS - LEASING - DESIGN

GULFSTREAM IV S/N 1068

2010 GULFSTREAM G550 S/N 5303

72 Month Inspection Completed Jan. 2021, Corporate Care, ASC190, Gear Overhaul Done, New Paint, Carpet & Flooring, WiFi

2’421 TT, Engines & APU on Programs, 2018 Paint & Interior, 96 Months Performed in December 2019

$2.495M

$16.9M

2010 A109S GRAND S/N 22162

2008 A109E POWER S/N 11728

1’770 TT, Recent Annual Check, New int. & paint 2018, Single Pilot IFR Approved, Strobe Lights, Aft Cabin Mini Bar, 5+1 Pax.

Engines on JSSI 100%, Only 307 Hours TT, Recent Annual Check, Recent Paint, EASA Compliant, VIP Interior, 6+1 Pax.

DEAL PENDING

OFF MARKET AIRCRAFT

Make Offer

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2014 LEGACY 650 OFF-MARKET 2008 CHALLENGER 300 OFF-MARKET 2021 PILATUS PC24 OFF-MARKET 2003 HAWKER 800XP S/N 258612 4’050 TT, Engines on MSP Gold, 8 Pax + Belt Lav., G-Check + ADS-B Completed in January 2020

Make Offer

MarketIndicators.qxp_Layout 1 26/01/2021 16:44 Page 5

MARKET INDICATORS

AVBUYER.com

Table A

In-Service Aircraft Values & Maintenance Condition Asset Insight’s December 31, 2020 market analysis covering 134 fixed-wing models, and 1,912 aircraft listed ‘for sale’, revealed strong sales activity to close out the year…

Available inventory decreased 9.4% during December, equating to a 19% reduction from June’s peak inventory figure, and a 12.4% decrease to the listed fleet for CY2020.

The Large Jet models tracked by Asset Insight ended the year with the same number of inventory assets, while Mid-Size Jets, Light Jets, and Turboprops all registered full-year inventory fleet reductions of 20.9%, 13.9%, and 9.6%, respectively.

Aircraft Values

The tracked fleet’s average Ask Price decreased 4.7% for December, equating to a 2.4% drop for the quarter, and 3.9% for the full year. While Large Jets posted a 0.8% monthly increase, all other groups were negatively impacted, with Mid-Size Jets decreasing 8.4%, Light Jets 1.5%, and Turboprops 0.7%.

Inventory Fleet Maintenance Condition

Buyer interest leaned toward models with more upcoming maintenance events, although individual maintenance event cost for the remaining inventory is expected to be slightly lower.

Specifically, our tracked inventory recorded the following: •

•

Quality Rating: Following two consecutive monthly improvements, asset Quality receded 0.4% to 5.348, thereby maintaining inventory within the ‘Excellent’ range for all of 2020, on Asset Insight’s scale of -2.5 to 10.

Maintenance Exposure: While the number of upcoming maintenance events increased slightly, the tracked feet’s Maintenance Exposure, an aircraft accumulated/embedded maintenance expense, improved (fell) 0.6% to $1.445m, signaling that upcoming maintenance events for the available fleet will be slightly less expensive.

Maintenance Exposure to Ask Price (ETP) Ratio

The ETP Ratio is a useful indicator of an aircraft’s marketability, and is computed by dividing the asset's Maintenance Exposure (the financial liability accrued with respect to future scheduled maintenance events) by its Ask Price. ‘Days on Market’ (DoM) analysis has shown that when the ETP Ratio is greater than 40%, a listed aircraft’s time on the market increases, usually by more than 30%.

During Q4 2020, assets whose ETP Ratio was 40% or higher were listed for sale 64% longer (on average) than aircraft whose Ratio was below 40% (277 versus 454 Days on Market).

December’s market overview revealed that nearly 48% of the tracked models, and over 53% of the tracked fleet, posted an ETP Ratio greater than 40%.

December’s fleet ETP Ratio rose (worsened) to 72.8% from November’s 70.1%, a figure that was slightly worse than the 12month average for a third consecutive month (but virtually equal page 26 to the 72.0% the fleet posted in January 2020).



22 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

Fleet Maintenance Condition $ Million $1.50

5.45

$1.45

5.35 5.348

5.25

$1.45 $1.40 $1.35

5.15

$1.30 J

F

M

Quality Rating

A

M

J

J

A

Maintenance Exposure

S

O

N

D

Quality Rating Trendline

Table B G500 G650ER F8X Citation Latitude CL-650 CL-350 G650 F2000LXS Citation Sovereign + F7X Citation CJ3+ Learjet 75 Global 6000 Citation CJ4 525C F900LX King Air 350i Citation X+ G280 Citation XLS+ (MSG3) Phenom 300 F2000LX Boeing BBJ Pilatus PC-12 Learjet 70 F900EX EASy F900DX Citation Encore + CL-605 G450 G150 TBM 850 Citation Sovereign 680 Caravan 208-675 Citation CJ3 Piper Meridian King Air 350 - Post-2000 Citation Encore F2000EX EASy Nextant 400XTi Citation CJ2+ 525A F900EX CL-300 Phenom 100E Hawker 900XP F2000EX F900C G550 Citation Mustang 510 Global 5000 King Air 350 - Pre-2001 Learjet 40 GV Citation CJ1+ Global XRS King Air B200 Post-2000 Citation XLS Learjet 45XR Hawker 850XP Citation CJ2 Caravan Grand 208B Piaggio P-180 II

1.0% 2.3% 2.9% 5.3% 5.6% 6.4% 6.6% 6.7% 9.2% 9.2% 9.4% 10.6% 10.8% 11.7% 11.8% 12.0% 12.9% 13.7% 14.1% 14.9% 15.8% 17.2% 17.7% 17.7% 18.0% 18.2% 18.7% 19.4% 20.0% 20.8% 21.9% 22.2% 22.3% 22.7% 23.1% 24.5% 26.1% 26.2% 26.8% 26.8% 26.9% 27.0% 27.1% 28.8% 32.3% 32.7% 33.0% 33.5% 33.9% 34.0% 34.2% 34.3% 34.3% 34.9% 35.8% 37.4% 37.5% 38.0% 38.8% 38.8% 39.6%

Phenom 100 40.6% Embraer Legacy 600 41.8% Hawker 4000 42.9% King Air B200 - Pre-200143.2% Citation XLS (MSG3) 43.5% Falcon 50EX 45.5% Learjet 60XR 47.6% Citation V Ultra 47.6% G200 48.0% Caravan 208 51.5% Hawker 750 52.1% Hawker 400XP 53.4% King Air 300 55.8% F900B 57.8% CL-604 58.6% Citation Excel 560XL 59.8% F2000 61.1% Premier 1A 62.1% Global Express 65.8% TBM 700A 66.6% Learjet 45 w/APU 67.5% Citation X (MSG3) 68.8% Learjet 40XR 71.0% Citation CJ1 71.6% Citation VII 72.2% GIV-SP (MSG3) 73.1% Hawker Beechjet 400A 75.0% Citation V 560 79.7% Learjet 45 82.3% Hawker 1000A 98.6% Premier 1 99.5% F50 100.8% King Air C90 101.5% Hawker 800XP 104.0% Learjet 60 106.5% Hawker Beechjet 400 107.7% Piaggio P-180 117.5% Learjet 31A 119.3% Citation VI 129.7% G100 131.4% Citation II 141.1% CL-601-3R 143.6% Citation ISP 149.3% GIV 161.3% Hawker 800A 161.5% Learjet 36A 174.8% Learjet 55 180.6% Learjet 31 194.8% CL-601-3A 195.0% Hawker 125-700A 212.2% Citation III 230.9% Learjet 35A 254.4% Citation Bravo 283.7% CL-601-1A 330.1% F20-5 378.7% GIII 527.3%

Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of December 31, 2020 Source: JETNET (www.jetnet.com) Asset Insight, LLC (www.assetinsight.com)

www.AVBUYER.com

AeroBuyNow February.qxp_Layout 1 25/01/2021 11:51 Page 1

<oZclj`m\ C`jk`e^ GULFSTREAM G450 4243 EPIC PlaneView II Avionics w/ HUD & EVS RRCC - MSP Gold ELITE 16 Pax Hallmark Interior w/ FWD Galley ADS-B Out V2 - FANS 1/A+ - WAAS - LPV 96M Inspection c/w 07/20 by Jet Aviation Geneva

1999 BEECH 1900D UE-360 7459/6903 Engines Hours Remaining EASA AIR OPS CAT Dual Air Conditioning - Electrical Ground Cooling Dual Inverters 3$; &UHZ $LUOLQH &RQƓJ (06 RU 3D[ &RQƓJ Z 6WUHWFKHUV 3URYLVLRQV Fresh Phase 6 EMBRAER PHENOM 100E 50000354 2015 YOM Engines on ESP Gold Airframe on EEC Standard 5th Side Facing Seat - Belted Toilet Seat Rigid Door - Premium Pax Door Fresh HSI’s KING AIR 200 BB -13 1974 YOM PT6A-41 Engines LH with 1583 SMOH/3000TBO RH with 1495 SMOH/3600TBO Hartzell HC-D4N-3A with 38 SPOH due in 2023 Garmin GTN GPS Fresh Phase 1 to 4 - Turn Key !

Cargo Door No Damage History - All Logs Since New KING AIR B200 BB1701 2000 YOM Only 5,121 hours PT6A-42 Engines @ 4100 TBO On Partial JSSI - 1430 SMOH - 253 TSHSI Props due in 2022/2023 Frakes Exhaust Stacks No Damage History - All Logs Since New

8Zhl`j`k`fe CITATION CJ3+ WE ARE EXCLUSIVELY MANDATED BY OUR FRENCH CASH BUYER TO SOURCE AND PURCHASE A CITATION CJ3+ IN THE LOW 5M$ BUDGET.

F]]$DXib\k AIRBUS HELICOPTERS EC135P2+ Hermès Edition VVIP 5 Pax 2010 Year of Manufacture and Delivery Pop-Out Floats Weather Radar Air Conditioning 2018 P180 AVANTI EVO 3008 450 Hours Only!

Satcom - CVDR - HF Radio Additional Fuel Tank - LifePort 6»+ Stretcher Kit Corporate 4 Ambiente Beige Leather 6 Pax Interior Warranties Remaining

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Freestream 1 January.qxp 15/12/2020 11:01 Page 1

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

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

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

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Hong Kong +852 2724 5620 info@freestreamhongkong.com

Freestream 2 January.qxp 15/12/2020 11:01 Page 1

2018 Gulfstream G650ER S/N: 6286 Airframe Total Time: 245.9 hours Aircraft Total Cycles: 77

2014 Gulfstream G650 Airframe Total Time: 2339.1 hours Aircraft Total Cycles: 642

Gulfstream G450 S/N: 4088 Airframe Total time: 3,028 hours Aircraft Total Cycles: 1,198

2008 Gulfstream G450 S/N: 4115 Airframe Total Time: 6615,3 hours Aircraft Total Cycles: 3159

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

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MarketIndicators.qxp_Layout 1 26/01/2021 16:44 Page 6

MARKET INDICATORS

Large Jets

Mid-Size Jets

Ask Price vs. Maintenance Exposure

Ask Price vs. Maintenance Exposure

$ Millions

$ Millions

$3.50

$3.00

$1.27

$3.10 Oct-20

Sep-20

Jul-20

Aug-20

$3.00

Jun-20

$2.90

$1.26

$3.11 May-20

Dec-20

Oct-20

Nov-20

Sep-20

Jul-20

Aug-20

Jun-20

May-20

Apr-20

Mar-20

Jan-20

Feb-20

$11.0

$11.7

$3.20

Apr-20

$11.5

$1.28

Mar-20

$12.0

$1.29

$3.30

Jan-20

$12.5

$3.40

$1.25

Dec-20

$3.10 $3.04

Feb-20

$13.0

$1.30

$1.27

Nov-20

$13.5

Asset Quality Rating

Asset Quality Rating

Scale -2.500 to 10.000

Scale -2.500 to 10.000

5.400

5.800

5.684

5.700

5.360

5.300 5.200

5.600

•

• • •

Turboprops not only registered the best ETP Ratio (again) in December, but also posted the group’s third consecutive 12-month low/best figure. At 39.5%, the Turboprops became the first group to break the 40% figure that statistics have revealed increases an aircraft’s Days on the Market (DoM).

Large Jets’ ETP worsened in December, but 61.0% was only marginally higher (worse) than the 12-month low the group posted in November.

Mid-Size Jets also worsened slightly to 71.8%, but the figure remained better than the group’s 12-month average.

Buyer focus on higher-quality Light Jets left the listed fleet with a new record high figure (106.8%), further increasing the challenges for many who are still seeking to sell their aircraft.

Market Summary

December’s sales figures have now lowered the fleet’s inventory to 9.2%, shifting the advantage toward sellers. Turboprops led the way at 6.9%, followed by Large Jets at 8.0%. Surprisingly, Light Jets came in third at 9.6% of the active fleet, while MidSize Jets posted a figure of 10.7%, suggesting buyers may hold the better hand for many models.

Overall demand improved to 2.27 from last quarter’s 2.21, on Asset Insight’s scale of 0.00 (low) to 5.00 (high), based on the listed fleet’s DoM and percentage of the active fleet listed for sale.

Large Jets: As predicted, Large Jets closed 2020 with solid sales, and at transaction values that did not disappoint sellers.

26 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-20

Jun-20

May-20

Apr-20

Mar-20

Feb-20

5.000 Jan-20

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-20

Jun-20

May-20

Apr-20

Mar-20

Jan-20

5.500

Feb-20

5.100

Buyers’ preference for higher Quality assets led to a 1.53% drop in the remaining inventory’s Quality Rating.

However, at 5.684, Large Jets ended the year in the ‘Outstanding’ range. The sale of higher quality assets negatively impacted Maintenance Exposure, which rose 1.2% to a figure worse than the 12-month average. Meanwhile, Asset Insight’s tracked inventory decreased by 64 units, ending 2020 at the same YoY availability figure.

While the remaining inventory’s average price increased 0.8% for December, and 1.8% for Q4, ask prices fell 11.9% during CY2020. With Demand increasing from 2.70 to 2.91 during the quarter, Asset Insight anticipates continued strong sales activity during Q1 2021.

Asset Insight analytics (www.assetinsight.com)

Mid-Size Jets: Although Mid-Size Jet availability decreased with 63 lower quality units transacting during December (ending the year with 138 fewer listed aircraft), Asset Insight’s computed demand figure decreased from 2.39 to 2.29. That’s because the remaining fleet has been listed longer than December’s traded units.

As proof, the Quality Rating improved 0.32% to post a 12month best (high) figure within the ‘Excellent’ range. And, while Maintenance Exposure rose/worsened 0.5%, the figure is only marginally higher than the group’s 12-month low/best value.

As Asset Insight reported previously, the challenge for sellers continues to center on ask prices, which fell 8.4% in December to a 12-month low; 10.4% during Q4; and 6.4% for the year.

Between the higher Maintenance Exposure and lower average ask price, the group’s ETP Ratio rose to 71.8% which, while better than average, still poses a high hurdle for many sellers. www.AVBUYER.com

MarketIndicators.qxp_Layout 1 25/01/2021 14:08 Page 7

AVBUYER.com

Light Jets

Turboprops

Ask Price vs. Maintenance Exposure

Ask Price vs. Maintenance Exposure

$1.50

$0.51 Dec-20

$0.70

Oct-20

$1.55

$0.55

Nov-20

$0.80

$1.60

Sep-20

$1.60

Aug-20

$0.90

Jul-20

$1.65

Jun-20

Dec-20

Nov-20

Oct-20

Sep-20

Jul-20

Aug-20

Jun-20

Apr-20

May-20

Feb-20

Mar-20

Jan-20

$1.65

$1.76

$1.00

$0.60

Apr-20

$1.75

$1.70

May-20

$1.85

$1.10

Feb-20

$1.05

Mar-20

$1.95

$ Millions

Jan-20

$ Millions

$0.50

Asset Quality Rating

Asset Quality Rating

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

Scale -2.500 to 10.000

5.300

5.300

5.146

5.200

5.251

5.200 5.100

5.000

5.100

4.900

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-20

Jun-20

May-20

Apr-20

Mar-20

Feb-20

Jan-20

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jun-20

May-20

Apr-20

Mar-20

Feb-20

Jan-20

Jul-20

4.800

5.000

Asset Insight analytics (www.assetinsight.com)

Light Jets: This Asset groupInsight postedanalytics a record (www.assetinsight.com) high 106.8% ETP Ratio to close out 2020, and the 39 higher quality units transacting represented only 7.1% of December’s available inventory (compared to 14.8% for Large Jets and 12.1% for Mid-Size Jets).

Light Jet’s asset quality worsened by virtue of the revised inventory mix (although, at 5.146, it did remain within ‘Very Good’ territory), while Maintenance Exposure hit a 12-month high/worst figure.

As predicted, Ask Price decreased another 1.5% during December, creating a 5.4% quarterly drop. But the figure still represented a 3.0% increase for the year that might be more aspirational than achievable for sellers.

Turboprops: While lower than average, Demand remained relatively steady at 2.05, as did Ask Price (decreasing 0.7% for December, and 1.5% during CY2020 – while increasing 0.6% for the quarter). The Quality Rating rose 0.8% to a 12-month high (best) of 5.251, boosting the group into the ‘Excellent’ range.

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.

www.AVBUYER.com

At the same time, Maintenance Exposure dropped (improved) 1.9% to a 12-month low. The combined effect led to something we haven’t seen in a long time – an ETP Ratio of 39.5%, equating to a 12-month low (best) figure below the 40% ‘excessive’ demarcation point.

Only 8.1% of the available inventory traded last month, with buyers opting for lower-quality assets. Accordingly, the stage is set for buyers seeking higher quality aircraft. Sellers should be able to transact at reasonable prices as we move into 2021.

MI www.assetinsight.com T

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

Very Good 5.000 to 5.249

Good 4.750 to 4.999

Below Average Average 4.500 Less to than 4.749 4.500

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AVBUYER MAGAZINE Vol 25 Issue 2 2021

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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.

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2006 CESSNA CITATION X • Serial Number: 750-0261 • EASA and Part 135 Certified • Elliptical Winglets

2004 AIRBUS/EUROCOPTER EC 130B4 • ADS-B Out • No Damage History • Asking Price- Make Offer

2007 LEARJET 45XR • Serial Number: 45-346 • Engines and APU Enrolled on MSP • Next Gen Avionics: ADSB-Out, TCAS 7.1

• Bendix King KX 165A NAV/COM • Six Passenger Configuration • Freon Air Conditioning

2001 HAWKER 800XP • Delivered with Recent A - D Inspections • Paint and Interior Refurbished - 2016

2000 BEECHCRAFT BEECHJET 400A • Serial Number: RK-266 • Garmin 5000 Integrated Flight Deck • New Paint and New InteriorNov 2017

• Serial Number: 3802 • Always Hangared • Turbomeca Arriel 2B1 Engine 1 • Garmin GNS430 GPS/COMM

• New Hawker XPR WingletsNov 2017 • AirCell ATG 2000 with Talk & Text • Fully RVSM and ADS-B Compliant

• Serial Number: 258527 • Engines and APU on MSP Gold Programs • Global AFIS

• Aviation Partners Blended Winglets • RVSM Certified

1990 BOMBARDIER LEARJET 31 • Serial Number: 21 • Engines on Programs • ADS-B Out • RVSM Compliant

• No Damage History • Complete Original Logs • Virtual Tour

Market Insights.qxp_MARKET INSIGHTS 25/01/2021 14:12 Page 1

MARKET INSIGHTS

30 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

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w

Market Insights.qxp_MARKET INSIGHTS 25/01/2021 14:13 Page 2

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M

Market Insights: Dave Coleman, Duncan Aviation What are some of the core trends in the pre-owned aircraft sales market, currently? AvBuyer’s Matt Harris asked

Dave Coleman for his, and Duncan Aviation’s, insights…

tarting operations as an aircraft sales company in 1956 when its founder Donald Duncan became a partner in a Beechcraft distributorship, many other facets have been added to Duncan Aviation’s portfolio over the years.

Nevertheless, the company has continued to buy and sell business aircraft.

Over the last 65 years, Duncan Aviation has overseen well over 3,500 aircraft transactions of several makes, models and categories, and today averages between 20 and 40 aircraft transactions annually.

A founding member of the International Aircraft Dealer’s Association (formerly NARA), Duncan Aviation boasts a team of aircraft sales consultants, each with an average 25 years of aviation experience, backed by in-house flight operations staff and 2,400 airframe, engine and avionics technical specialists located around the world.

S

AvBuyer: From Duncan Aviation’s perspective, how did preowned aircraft sales pan out during 2020? We understand that, overall, the market was at least as busy as 2019. Was that your experience?

Coleman: We engaged in a similar number of listings and acquisitions in 2019 compared to 2020. However, the number of deals that crossed the finish line and resulted in a closing was far higher in 2020 than in previous years.

Essentially, sellers were more realistic about the value of their aircraft, while buyers were more decisive.

AvBuyer: Which markets were particularly noticeable for one reason or another in your view?

Coleman: The number of smaller-cabin Citation transactions performed by our sales team jumps right off the page. Over half of those were to first-time jet owners.

www.AVBUYER.com

A core member of the team is Dave Coleman, who brings a wealth of knowledge from over 30 years working in the industry. Dave also happens to be a pilot with more than 7,000 hours of flying time, enabling him to “understand the nature of the relationship between owner and aircraft”.

Dave’s first aviation job was selling training aircraft, before he became a technical representative for an aircraft leasing company. From there, he took a position supervising a team of Boeing and Lockheed mechanics, learning the challenges of aircraft maintenance, followed by several years flying turboprops for a regional feeder of American Airlines.

He has been in jet aircraft sales and acquisitions in the Chicago area for the last dozen years, and it is here that AvBuyer caught up with Dave to ask his, and Duncan Aviation’s, perspectives on the pre-owned aircraft market.

Meanwhile, Mid-Size Jet transactions were on a par with previous years, and each transaction could be described as ‘challenging’. Our Large Cabin Jet business was a little stronger than before. With the exception of one or two deals, all of these involved considerable price concessions.

AvBuyer: Why was this?

Coleman: The Large Jet market was hit from all sides in 2020. Not only was the market slowing down before the start of the pandemic, but quarantine requirements made international travel impractical, while social distancing measures made the use of the aircraft harder to justify.

To top it off, many Large Jet operators are in the energy sector, where low oil prices hit the bottom-line pretty hard.

Generally speaking, most large cabin aircraft saw a 10-15% drop in value.



AVBUYER MAGAZINE Vol 25 Issue 2 2021

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Market Insights.qxp_MARKET INSIGHTS 26/01/2021 16:46 Page 3

MARKET INSIGHTS

AVBUYER.com

On the other hand, Light Jets are the perfect match for US domestic small and mid-size businesses that are nimble and can take advantage of low borrowing rates and strength in equities to grow their businesses.

There was a period in 2020 where ‘prime condition’ Citations Vs and Ultras were selling at pricing premiums in excess of 10%.

“Many of the transactions that took place in Q4 2020 were from buyers that projected end-of-year financial results that were well above plan.”

AvBuyer: Looking ahead, what are your expectations for 2021 in terms of pre-owned sales? We’ve seen reports predicting a busy Q4 2020 will spill into a busy Q1 2021. Is that the way you see things?

Coleman: Many of the transactions that took place in Q4 2020 were from buyers that projected end-of-year financial results that were well above plan. Some of these buyers may have moved their acquisitions from 2021 to 2020 for tax planning purposes.

I may be in the minority, but I expect Q1 2021 to be quieter than normal because of this…

AvBuyer: Looking at the months ahead, which buyers and sellers would you have on ‘red alert’, ready to act fast? Which markets do you foresee good buying and selling opportunities in?

Coleman: My grandfather used to say that you can go just as broke on a good deal as you can on a bad one. The best opportunity in 2021 is on the aircraft that is optimally suited to meet your requirements.

Buyers should work with their broker to determine the make and model aircraft that makes the most sense, and then be on ‘red alert’ to lock up the best aircraft of that type at the best price – one that can be placed into service when it is needed. ad re Re Mo

32 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

With a business jet, you are buying a time machine that transforms the way you live and work. Leave the speculating to the professionals.

AvBuyer: How would you advise both buyers and sellers to get the most from the market in the coming months?

Coleman: I believe there is insufficient global demand to tighten the market for business aircraft to the point where we have a sustained rise in asset values. Therefore, be patient and work with a specialist who can help you understand the cadence of the market. (That specialist should also be trained to recognize when the most popular models are experiencing a momentary slack in demand.)

Those buyers who adhere to this basic principle are the ones who will get the best deals in 2021, and beyond.

More information from www.duncanaviation.aero T

MARKET INSIGHTS

at AVBUYER.com

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AIRCRAFT SALES & ACQUISITIONS +1 402.475.2611 · www.DuncanAviation.aero/aircraftsales · 800.228.4277

2 0 1 1 P h e n o m 3 0 0 s /n 4 4

2 0 07 L e a r j e t 4 5 X R s /n 3 3 0 NEW LISTING

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4,234 Total Time. One Owner. Duncan Aviation/ Bombardier Maintained. MSP. WAAS/LPV. Wichita-based.

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4,931 Total Time. Engines on MSP Gold. Extended Range. 2019 Paint. Increased MTOW. WAAS/LPV. 36/72/108 Month Completed 2/2019.

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730 Total Time. ADS-B. Design Weight Increase (MZFW, MTOW, MILW). Steep Approach. Engines on ESP.

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MARKET INSIGHTS

What’s the Latest on the Citation Light Jet Market?

Are you looking to buy or sell a Cessna Citation Entry-Level or Light Jet on the pre-owned business jet market? Matt Harris asks Jonathan Deutsch and Tony Kioussis for their insights on how these aircraft are performing… ince Cessna started delivering its Citation 500 in 1971, the Cessna Citation name has become a staple of Business Aviation – particularly within the lighter end of the market.

By the end of its first decade in jet production, the company had developed the Citation I and Citation II models – heralding the heavy product development and expansion that would follow over the decades.

In the present day, production continues at an impressive pace with popular models being built for the Light Jet, Mid-Size and Super Mid-Size Jet markets.

What’s more, over the years nearly 8,000 Citations have

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been built and, according, to JETNET, just over 7,300 of those remain in operation.

Understandably, the pre-owned market for Cessna Citation jets is also vibrant, and for Light Jets within the Cessna Citation range, specifically, “The market is very active and stable,” according to Jonathan Deutsch, who oversees the Vienna office of Mesotis Jets.

For example, “although we encountered logistical problems during the first lockdown in March through to May 2020, we were still able to sell seven Cessna Citation products ranging from the CJ1 to the CJ4, as well as one Citation XLS+ within Europe,” he adds. www.AVBUYER.com

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MATT HARRIS is commissioning editor for AvBuyer. He is an experienced General and Business Aviation journalist and has edited a variety of titles across the last two decades. These include AvBuyer, BizJet Advisor and GA Buyer Europe. https://www.linkedin.com/in/matthew-harris-avbuyer/

Tony Kioussis, President, Asset Insight agrees. His company tracks 29 Light Jet models, 16 of which are Entry-Level and Light Citation types. “The market for Light Jets was quite active during Q4, with 166 aircraft trading,” he notes. “Of those, 128 were Entry-Level or Light Citation models. That equates to 77% of all tracked model trades.”

And, as of Q4 2020, the lighter jets in the Citation range were on the market fewer days than other Light Jets, notes Kioussis, averaging 369 days before a sale, compared to the market average of 399 days.

Reasons for Citation Light Jet Market Popularity

According to Deutsch, part of the reason for the popularity of Cessna’s Light Jet products could be down to the fact that transcontinental sales were difficult because of travel restrictions during the lockdowns in 2020 and into the New Year.

Meanwhile, Kioussis highlights a better-than-average Maintenance Exposure to Ask Price ratio in the Cessna Citation Light Jet fleet as a further reason for the marketability of these jets.

“The Maintenance Exposure to Ask Price Ratio (ETP Ratio) for the tracked fleet was 88.5%, compared to 76.6% for the entry-level Citation fleet,” he notes.

Moreover, since the very start of jet manufacture at Cessna, the Citation name has been synonymous with steady, reliable, and predictable flying characteristics – especially in the Entry-Level and Light Jet products, www.AVBUYER.com

making them ideal platforms for those seeking to enter business jet ownership.

“Entry-Level and Light Jets are often owner-flown,” Kioussis shares. “Between turboprop owners moving up to a Light Jet (rather than resorting to airlines for longer haul flights), and first time buyers entering the market, the Light Jet category has been the beneficiary of increased sales activity.”

“We have learned from the past that every crisis [in the market] brings a shift in wealth, often creating winners and losers within the business jet owner communities,” Deutsch adds. “These, ultimately, enhance buying and selling activities amongst certain aircraft models.

“Covid-19 has created a new group of clients. These have surfaced on the market compelled by safety reasons, and are lured by the guarantee of independent mobility.”

Stand-Out Citation Light Jet Models

Duncan Aviation’s David Coleman highlights the premiums some older Citation models, such as the Citation V, were commanding in mid-2020 (see the interview on p30 of this issue), clearly the lighter end of the Citation market is ideal for the type of buyer Deutsch and Kioussis outline.

“Here in Europe the Citation CJ2+, CJ3 and CJ3+ has really been touching the sweet spot for buyers,” Deutsch shares. “These jets have great avionics combined with the right range and number of passenger seats, while remaining affordable.”

Kioussis agrees. Sharing JETNET data he reveals there were 23 CJ3 sales and 12 CJ2 sales during the past 90 days (at the time of writing). But it’s the CJ3+ that really catches his attention: “With only 2.9% of the active fleet listed for sale, an ETP Ratio of 9.4%, seven transactions during the past 90 days, and averaging 150 Days on Market, the Citation CJ3+ is the aircraft that stands out as we enter 2021,” he highlights.

“None of the transactions we have seen went above retail values,” Deutsch reports. “They commanded wholesale to mid-point values.” However, Deutsch adds that it absolutely makes sense that some older Citation Light Jets – having reached their “depreciation bottom” – could have experienced a small increase in pricing due to the higher demand in the segment overall.”

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MARKET INSIGHTS

Tips for Entry Level & Light Citation Jet Buyers and Sellers

So how do the current Cessna Citation pre-owned market conditions play out for the buyers and sellers?

Deutsch believes both will find value.

This is because the markets are “relatively stable with good absorption rates among the Citation fleet,” he explains. He also warns that both buyer and seller may face logistical issues, owing to the impact of Covid-19 restrictions (depending on where the aircraft and the buyer are based).

“The lockdown situation of each country is highly volatile, and can change over a single day – so the best advice is to stay flexible, and be patient,” he concludes.

Addressing buyers specifically, Kioussis notes a common error for “both first-time buyers and turboprop operators moving up to a jet to incorrectly interpret a low price as good value.

“While aircraft offering good value do exist, an aircraft’s acquisition cost is often the smallest portion of its overall operating expense,” he elaborates.

“Using industry average operating costs and

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.

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conducting a detailed, inexpensive analysis covering the time-period the buyer intends to hold the aircraft is the only way to know if an aircraft actually represents good value for money.”

Sellers, meanwhile, often do not understand where their aircraft is positioned relative to other listings, Kioussis warns. “Sellers often misinterpret a logical offer as one that is too low for their asset, thereby incurring additional costs while their aircraft continues to sit on the market awaiting another buyer.”

Kioussis advises sellers to collect plenty of detailed information on comparative jets on the market, as this data will enable them to position their aircraft well, and ‘justify’ their asking price.

Ultimately, Kioussis concludes, the successful buyer or seller is usually the entity “that knows how an aircraft stacks up against comparable jets, correctly valuing the asset based on its maintenance condition.”

More information from www.assetinsight.com or www.mesotisjets.com T

JONATHAN DEUTSCH is CEO and Owner of Mesotis Jets.

Created in 2011 Mesotis Jets is specialized in aircraft sales and aviation consulting, and represents JSSI hourly cost maintenance programs in the African region. Jonathan became involved in aviation as a student pilot in 2006 and holds a frozen ATP/CPL IFR licence.

MAKE MORE INFORMED BUYING DECISIONS with AvBUYER.com

www.AVBUYER.com

Elliott Jets February.qxp_Layout 1 25/01/2021 14:28 Page 1

Buying&Selling 1 FEB21.qxp_Finance 25/01/2021 14:32 Page 1

BUYING & SELLING AIRCRAFT JET TOLBERT is President of American Aircraft Sales.

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

Older Jets: How old is too old?

Should an aircraft’s age put buyers off a purchase? What factors should be considered when buying older jets? And what are the pros and cons both experienced and inexperienced shoppers should consider? Aircraft broker Jet Tolbert discusses…

f you are shopping the pre-owned business aircraft market looking for suitable aircraft to buy, the low prices of older jets may be fairly tempting.

Assuming the higher maintenance costs have been taken into consideration and an allowance for higher operating costs has been accounted for – it may well be that an older jet fulfils your mission needs adequately.

But, is there a limit on how old is too old where business jets are concerned? And if so, what is that limit?

The answer will vary widely, depending on a variety of things – from your annual operating budget; depreciation expense requirements; and the corporate governance requirements imposed on executive travel.

Practically speaking, corporate aircraft are capable of outliving what the market considers to be their useful life. While it’s different for all aircraft, there comes a point where buyers will notice the annual operating cost for an aircraft is roughly the same as its acquisition cost.

I

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(Simply as an observation on my part, for some reason many private and corporate buyers who can afford the operating costs of an older jet prefer to spend more money on the initial purchase of something newer, and so we tend to lose a lot of would-be buyers of older jets at at this stage.)

Aircraft that have crossed this threshold tend to find buyers in countries with lower operating costs (owing to lower fuel prices or labor costs), or remain with their owners who will maintain it, keeping it current until the cost of complying with mandates, regulations and navigational requirements exceeds the cost of buying another aircraft which already meets those requirements.

At that point, they become obsolete and are either parted out or, where few parts hold value, they are sold for scrap. Ultimately, they don’t die due to old age per se. More as a result of falling behind the market.

It takes a long time for an aircraft to get from one end of the life-cycle to the other, though, and there are many jet aircraft that are nearing 50 years old that are still in active service, and are kept to the acceptable regulatory standard. www.AVBUYER.com

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Experience Makes all the Difference

The more experienced owner/operator will have a good idea of what the increasing maintenance costs look like as an aircraft ages, and whether there is anything big coming down the line – such as a major inspection or overhaul costing significant money.

Nevertheless, it would behoove buyers – both experienced and inexperienced – to employ a buyer’s agent. That agent should demonstrate a deep knowledge of the market’s reaction to the age of an aircraft, along with the factors that affect an aging aircraft’s operating costs.

Two aircraft of the same age could have significantly different annual budgets based on: a) The type of aircraft; b) Their past maintenance history; and c) Other environmental factors, like where they’ve been based, and how they’ve been operated.

As an example, a 20 year old airplane that has had all of its heavy maintenance performed by an

www.AVBUYER.com

OEM-approved service center could have a very different maintenance budget going forwards compared to the same make/model that hasn’t seen an OEM-approved service center for 15 years.

When you factor additional variables, such as the number of hours each aircraft has flown each year, the equation begins to get complicated.

(Note: Do not automatically assume an aircraft that has flown fewer hours annually will have fewer problems to work through than one that’s been more intensively used.)

What’s the Resell-ability?

A lot of good business investments are made with an exit strategy in mind. Having an expected ownership period plotted out for an aircraft can help determine whether there will be a resale market when you’re ready to sell. If not, you will ultimately need to part it out, or sell it for scrap.

Where an aircraft has a price similar to its annual operating budget, you can anticipate that

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BUYING & SELLING AIRCRAFT

“Ultimately, the main factors in determining whether a certain age of aircraft will work for your operation begins with your budget and mission...” it will take longer to sell, and you may need to be prepared to sell for a lower than expected price.

For many buyers of older jets, the trade-off comes with the lower depreciation, since an aircraft loses most of its value in the first few years after it was produced.

Conversely, buyers of newer, more expensive airplanes will benefit more from the tax depreciation, and in some cases roll the depreciable basis into the next aircraft with a trade-up to a dealer/broker.

Find

To Summarize…

Often, a buyer has an aircraft in a specific age bracket they’ve been chartering and feel comfortable with.

The natural starting point for them may be to look at the projected annual budget and acquisition cost, working from there.

Ultimately, the main factors in determining whether a certain age of aircraft will work for your operation begins with your budget and mission, before looking at the available options on the market, determining whether they meet the requirement. ❙

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40 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

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Buying&Selling 2 FEB21.qxp_Finance 25/01/2021 14:38 Page 1

BUYING & SELLING AIRCRAFT 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

Buying an Older Jet? How to Avoid the Surprises There are many low-priced older business jets and turboprops available on today’s market. While price alone may be

tempting for inexperienced buyers, Dave Higdon highlights additional considerations to help true value stand out...

s the old saying goes, ‘There's no such thing as a free lunch’. Potential buyers of older business aircraft should beware of the teeter-totter nature of prices for older models, and how to find value among them.

While the purchase price of an older jet or turboprop may seem cheap compared to a newer model, operating costs tend to run higher and continue to climb as usage adds more hours to the engines, landing gear cycles, and the airframe.

This tendency especially applies to out-ofproduction business aircraft aged 20 and older.

Hence the fact such aircraft can seem so cheap.

That isn’t to say there are not some excellent aircraft in the older pre-owned segment. But, when shopping this area of the market, buyers would benefit from experienced guidance, as well as keeping their eyes wide open.

Consider the following factors when searching for business jets aged 20 and up…

A

42 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

Understand the Airworthiness Directives

Airworthiness Directives (ADs) are a fact of life for aircraft owners and operators. An AD is an order from the Federal Aviation Administration (FAA) requiring some form of work on an aircraft, its airframe, the powerplants, or the avionics.

Some aircraft draw relatively few ADs, while others seem to garner more. But it's very rare for a jet to get through its useful life with no ADs imposed. The older the aircraft, the greater the possibility of it being subject to one or more ADs. Examining the aircraft's records as part of a PreBuy Inspection typically includes finding and reviewing the list of ADs applicable to that specific aircraft model. Without a list readily available, the inspector would need to consult FAA records to determine what ADs exist; which apply to the aircraft in question; and whether the current owner resolved those orders.

ADs with an applicable ‘terminating action’ www.AVBUYER.com

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should all be permanently resolved. Recurring ADs, however, come back again and again. And some can be relatively expensive to resolve (particularly the recurring ADs).

A buyer becomes responsible for AD compliance upon taking possession of the aircraft.

So it’s essential to develop a list of recurring ADs, any pending ADs with terminating actions available, and the annual cost of sustaining compliance before signing a purchase contract.

Understand the Engine Cycles

The Pre-Buy Inspection should also include a look at the aircraft’s engine logs. It’s important to know how close those expensive turbine engines are to a mandated hot-section inspection or overhaul.

Some older jet engines cost more to overhaul than the total value of the aircraft, and buying into this situation adds to the expense of ownership, unless the jet is enrolled in an hourly maintenance www.AVBUYER.com

program, and accrued funds in that program are transferrable to the new owner.

Understand Landing Gear Cycles

Powerplants are not the only part of a business aircraft with time or cycle limits that lead to a mandated overhaul. Where the airplane meets the runway is the landing-gear and its multiple components, many with either time- or cycle-based limits on use before they must face an overhaul.

This is yet another area in which the expertise of a type-trained maintenance technician is useful when examining the aircraft's logs.

The goal is to make sure the landing gear system can handle the rigors of take-offs and, in particular, landings without risking a gear collapse.

Be mindful that, where business aircraft are concerned, overhauling the gear may require the specialized knowledge of the factory or a factoryapproved maintenance provider. And remember

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BUYING & SELLING AIRCRAFT

“There are operators who consistently seek out older business aircraft due to their lower costs of acquisition.” you'll need to plan on the downtime and cost required.

Understand the Flight Deck

Upgrading the flight deck offers new, important capabilities to the aircraft. For example, many older aircraft still fly with an analog panel, with a six-pack of flight instruments and individual indicators for navigation and instrument approaches.

That flight deck is an area ripe for a makeover with a digital panel sporting a primary flight display (which combines six flight instruments and, often, multiple navigation indicators, along with traffic, weather and terrain warning systems).

This is one area of aircraft ownership where the cost of a makeover has declined in recent years, as more lower-priced options have entered the market.

Yet, it’s worth understanding what an older aircraft

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already offers, costing up what would need to be updated or added to allow you to operate it as you need.

For example, equipping with a WAAS GPS navigator can open up thousands of new approaches made possible by the improved accuracy available. There's also the potential for gaining access to Performance-Based Navigation (PBN), which brings arrival procedures and approaches delivering higher efficiency – particularly in regions with high traffic density.

On the flip side, fewer avionics shops seem willing to keep an old analog panel functional, owing to the fact parts for many older avionics components either disappear or become available only by cannibalizing other, already old, avionics equipment. So, know the status of the avionics before you buy…

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www.AVBUYER.com

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Buying&Selling 2 FEB21.qxp_Finance 25/01/2021 14:39 Page 4

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BUYING & SELLING AIRCRAFT

Understand the Spare Parts Supply

In general, the greater the number of a jet or turboprop model flying, the greater the availability of parts (both new and recycled). A few businesses exist that disassemble retired aircraft and certify the salvaged parts as replacements for the same make and model.

By consulting with the inspecting maintenance technician, a potential buyer can learn about the availability of spare parts for a given make and model.

Maintenance technicians tend to advise potential buyers of older jets to beware the models whose production lasted only a few years, and for which spares may consequently be scarce.

Understand the Aircraft Airframe and Surfaces

Have your inspecting maintenance technician play particular attention to the airframe and windows.

The airframe could harbor corrosion – some of which may be hidden away in areas not easily accessed or seen.

Understand the severity of any corrosion that is discovered, and the measures required to correct it. And give particular attention to possible impacts of corrosion when the prospective aircraft has been based or operated in corrosive saline costal 46 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

environments, or dusty locations.

Moreover, the windows around the jet and on the flight deck should be examined thoroughly. As aircraft age the windows can deteriorate – possibly leaking – or become sun-damaged, showing tiny cracks and flaws.

Research is the Key

There are operators who consistently seek out older business aircraft due to their lower costs of acquisition. These experienced buyers know that maintenance and fuel costs will be higher than for a newer aircraft, but often focus on a single model – or group of models.

In the process, they become intimately familiar with the trade-offs, and where to find the specialized maintenance and the spare parts to keep the jet flying. They also know where an issue with the airplane is worth correcting, or whether it is a deal-breaker.

If that approach holds appeal, you should consult with other owners; locate their owners’ group; find and secure the services of a maintenance technician familiar with the type; and proceed as a team.

For the fully initiated, where older business aircraft are concerned, there’s no doubting ‘there’s gold in them there hills’! ❙ www.AVBUYER.com

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Ownership 1.qxp_Finance 26/01/2021 16:49 Page 1

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Fuel Cards: Are you Making the Most of Them?

As an aircraft owner, you should be keeping a close eye on the operating costs of your aircraft, says David Wyndham.

Here’s how fuel cards – when used correctly – can help… here business aircraft ownership is concerned, an operating budget is highly recommended. For the typical turbine aircraft, fuel amounts to approximately half of your variable operating cost, which leaves plenty of headroom for intelligent use of fuel cards to benefit you.

At first, you may accept the cost of fuel as a given with little you can do to control it. But experience should render ways to lower your fuel bill.

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Options for Reducing your Fuel Bills

At your home base airport, unless you burn enough fuel to justify having your own fuel farm, it is good practice to speak directly with your local FBO and arrange for a fuel discount. Unless you’re flying for extended periods, the majority of your fuel purchases will be at home, and a discount here can be highly beneficial.

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The more fuel you purchase at any one FBO facility, the better your chance becomes of getting a discount. Nevertheless, even when you’re on the road you may be able to get a discount, or have a parking fee waived with a minimum fuel purchase (see Footnote 1 at the end of this article).

Also when on the road, you should shop around for the best prices when it make sense for your operation. Tools such as AirNav’s fuel price search (www.airnav.com/fuel/local.html) can make quick checks for reported fuel prices.

Tip: When you are price shopping, you should consider the total cost of the stop. Sometimes a lower fuel price can be offset by a la carte fees for parking and other services. Moreover, evaluate the level of service at the FBO. A location with services included (if being used), may be a better value than the dollars you pay per gallon.

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5

Action Aviation February.qxp_Layout 1 25/01/2021 14:30 Page 1

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• Great Condition 1998 Challenger 604 Aircraft

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• 8,740 Total hours

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• 3,634 Total landings

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• LH & RH Engine: 8,740 Total hours; 3,634 Total cycles

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• 5,570 Total APU hours

ACJ 320 S/N 1868 • 4,342 hours and 1,296 landings only since conversion to ACJ320 • Complete ACJ Avionics Suite with TCAS 7.1 • 6 year maintenance check has recently been completed • Certified for 26 passengers with 15 passenger sleeping configuration

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Ownership 1.qxp_Finance 25/01/2021 14:53 Page 2

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Never sacrifice superior service for a few dollars. The hassles are rarely worth it.

One last area to evaluate is subscribing to, and using, fuel cards. These fuel discount programs can reduce the fuel cost in one of three ways: 1) 2) 3)

A cost reduction at the pump Rebates sent after purchasing fuel in certain quantities Rewards benefits, such as rental cars and hotel stays.

Who Offers a Fuel Card Program?

Major FBO chains often provide fuel card programs. Discounts are often tied to the volume of fuel purchased (as is the case for the program offered by Signature Flight Support). Others, like Atlantic Aviation, are rewards based.

Fuel service providers, such as Avfuel or Epic Fuels, offer card programs, too, with the rewards conditional on using their service or FBO. If you frequent an FBO that has an offering like one of these, find out about it, and see if it could work well for you.

In the US, the Corporate Aircraft Association (CAA) fuel discount program – available to its members – offers discounted prices on turbine fuel for many different FBOs. The ability to take advantage of their program is restricted to Part 91 notfor-hire operators, and CAA membership starts at $500 per aircraft, per year. If you fly enough, it is

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

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likely that you could make that membership fee back within a couple of months.

Which Incentive Type is Better?

Whether a cost per gallon discount, a rebate, or a reward is better for you will depend on how often you are using the programs. Many operators will mix-and-match fuel card programs to gain the best deal at the various locations they frequent.

A few years ago in a survey of a selection of corporate flight departments, I asked whether operators used fuel discount cards and, if so, how many card programs they used. Almost all respondents used at least one fuel card, and the average operator had seven cards.

Needless to say that you should ask around to see which cards are used, or offered by the FBOs at your favored destinations. The ones mentioned here are only a representative sample. And, if your aircraft is owned by a corporation, make sure that any rebate or reward received is handled according to your company policies. T Footnote 1: Even if you don’t need to purchase fuel, if you use the FBO facility it is good practice to purchase a modest amount of fuel (let’s call it courtesy fuel). The ‘free use’ of crew waiting areas, flight planning rooms, meeting rooms and courtesy cars all have their associated costs.

Support your FBO. One way to calculate an appropriate courtesy fuel amount is the number of gallons you need to reserve for a typical diversion.

MAKE MORE INFORMED AIRCRAFT OWNERSHIP DECISIONS with AvBUYER.com

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AirCompAnalysis.qxp_ACAn 27/01/2021 10:54 Page 1

JET COMPARISON

EMBRAER LEGACY 500

EMBRAER PRAETOR 600

Jet Comparison: Embraer Praetor 600 vs Embraer Legacy 500 How does Embraer’s newly-certified Praetor 600 compare with the Legacy 500?

What are the advantages offered by each model and which particular market niche(s) do they fill? Mike Chase analyses their performance side-by-side… ver the following pages, we’ll consider key productivity parameters for the Embraer Praetor 600 and Legacy 500 (including payload, range, speed and cabin size), to establish which operator needs these aircraft are designed to meet. How much of a performance enhancement does the Praetor 600 offer over its predecessor?

Embraer has spoken much over the past few years about ‘Disruptive Technology’. What exactly does it mean by this, and does its new Praetor aircraft represent disruptive technology within the Business Aviation sector?

We’ll keep these questions in mind. Specifically, disruptive technology is defined as “the process in which a smaller company, usually with fewer resources, challenges an established business by entering at the bottom of the market and continuing to move up-market with technological innovations that disrupt the status quo.”

O

52 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

Embraer Praetor 600

Through its Praetor 500 and 600 models, Embraer introduced improved variants of its Legacy 450 and 500 models, respectively. The Praetor 600 was subsequently certified by the FAA and EASA in 2019.

Based on the Legacy 500, the $20.995m Praetor 600 has two fuel tanks on the fuselage belly allowing 2,928lbs additional fuel capacity. It also utilizes more powerful 7,528lbst Honeywell HTF7500E engines, while a much longer wingspan combines to offer an NBAA IFR range of 4,018nm (carrying four passengers and available fuel) – making it competitive with the Cessna Citation Longitude and Gulfstream G280 Super Mid-Size Jets.

The Praetor 600 began deliveries in H2 2019, and there were 24 wholly-owned Praetor 600s in operation at the time of writing, with none yet in shared or fractional ownership. However, Embraer has received a $1.4bn order from fractional provider Flexjet LLC that includes Praetor 600 jets. www.AVBUYER.com

w

AirCompAnalysis.qxp_ACAn 27/01/2021 10:54 Page 2

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EMBRAER

EMBRAER

vs.

Praetor 600

Legacy 500

(Manufactured between 2019-Present)

(Manufactured between 2014-2020)

HOW MANY

EXECUTIVE

SEATS

9

9

$20.995 Million (2020 Model)

$19.995 Million (2020 Model)

WHICH OF THESE SUPER MID-SIZE JETS WILL COME OUT ON TOP?

HOW FAR

CAN WE GO?

Full Fuel with 4 Pax (nm) Praetor 600 Legacy 500

4,018 3,125

WHAT’S THE

HOW MUCH

PAYLOAD CAN WE TAKE?

Praetor 600 Legacy 500

(Lbs) 4,002

2,800

HOW MANY

HOW MANY

OPERATION?

EACH MONTH?

UNITS IN 24 84

NEW/USED SOLD

1 (0%)

1 (7.1%)

LONG RANGE CRUISING SPEED? Praetor 600

www.AVBUYER.com

433

Legacy 500

440

WHAT’S THE

COST PER HOUR?

Praetor 600 Legacy 500

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

(Knots)

$2,679 $2,416

12-Month Average Figure

(% = Global Fleet For Sale)

 AVBUYER MAGAZINE Vol 25 Issue 2 2021

53

AirCompAnalysis.qxp_ACAn 27/01/2021 10:56 Page 3

JET COMPARISON

AVBUYER.com

Table A - Payload & Range Comparison

Embraer Legacy 500

Embraer Praetor 600 Embraer Legacy 500

42,857 38,360

16,138 13,058

MTOW (lb)

Max Fuel (lb)

4,002

2,800

Max Payload (lb)

Source: OEMs, B&CA

2,194

1,799

Avail Payload w/Max Fuel (lb)

3,277

6.0 ft

6.0 ft Source: UPCAST JETBOOK

Chart B - Range Comparison Praetor 600 Legacy 500

When comparing aircraft, an important area for potential operators to focus on is payload capability, and especially the ‘Available Payload with Maximum Fuel’. Table A (above, left) shows the Embraer Praetor 600’s Available Payload with Maximum Fuel to be 2,194lbs., which is greater than the 1,799lbs. offered by the Legacy 500.

Legacy 500

6.8 ft

4,018 (nm) 3,125 (nm)

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

The Legacy 500 was the first Super Mid-Size business jet with digital flight controls and full fly-by-wire. The Embraer Legacy 500 was certified on August 12, 2014. Like the Praetor 600, two Honeywell HTF7500E engines power the Legacy 500, each with a lower 7,036lbst.

Legacy 500 production was scheduled to end after 2020, and, at the time of writing, there were 81 wholly-owned Legacy 500 jets in operation worldwide, with two more in shared ownership, and one in fractional – giving a fleet total of 84 units.

Payload & Range Comparison

Chart A - Cabin Comparison

6.8 ft

2,603

Max Payload w/Avail Fuel IFR Range (nm)

1,312 1 334 1

Praetor 600

J

Cabin Comparison

As shown in Chart A (left) the Praetor 600 and Legacy 500 share cabin cross-section dimensions. They also have the same cabin length (24.1ft) and volume (840cu.ft).

Baggage volume for both jets is 45cu.ft (internally) and 110cu.ft (externally).

As mentioned, the main difference between the two jets come in the external dimensions of the wingspan. Otherwise, the jets are very similar.

Range Comparison

As depicted in Chart B (left) , using Melbourne, Florida as the start point the Praetor 600 offers greater range coverage (4,018nm) than the Legacy 500 at 3,125nm, both with four passengers and available fuel.

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

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

Fuel Burn Comparison

The two higher-thrust Honeywell HTF7500E engines powering the Praetor 600 burn 258 gallons per hour (gph) fuel. By comparison, the Legacy 500’s lower-thrust HTF7500E turbofans burn approximately 10% less fuel at 238gph fuel.

Cost per Mile Comparison

Source: Chase & Associates

54 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

Chart C (overleaf) details ‘Cost per Mile’, comparing the Embraer Praetor 600 and the Legacy 500, and factoring direct costs with all aircraft flying a 1,000nm mission with an

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AirCompAnalysis.qxp_ACAn 27/01/2021 10:57 Page 4

JET COMPARISON

AVBUYER.com

Chart C – Cost Per Mile Comparison

J

800lbs (four passengers) payload. The Praetor 600 has the highest cost per nautical mile at $7.82, which is 6% more than the Legacy 500 ($7.38 per nautical mile).

Total Variable Cost Comparison Praetor 600

$7.82

Legacy 500

$7.38 $0

$3.00

$6.00

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

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

Embraer’s Praetor 600 shows a higher variable cost at $2,679/hour compared to the Legacy’s $2,416/hour; a difference of $263, or 10.9%.

$9.00

US $ per nautical mile

*1,000 mission costs

Source: JETNET

Chart D – Variable Cost Comparison

Market Comparison Table

Table B (below, left) contains the new prices (per B&CA) for a 2020 model Embraer Praetor 600 and Embraer Legacy 500. The long-range cruise speed and range numbers are also from B&CA, while the cabin volumes are from the OEM. Meanwhile, the number of aircraft inoperation, the percentage for sale, and the average sold are from JETNET. The Praetor 600 had no aircraft for sale on the used aircraft market at the time of writing, while 7.1% of the Legacy 500 fleet was available for sale. The average number of new and used transactions (units sold) per month over the past 12 months was one each.

$2,679

Praetor 600 Legacy 500

$2,416

$0

$1,000

$2,000

US $ per hour

Source: JETNET

Depreciation Schedule

Table B - Market Comparison Table

Praetor 600 Legacy 500

433

440

Long Range Cruise Speed (Kts)

840

840

Cabin Volume Cu Ft

4,018 3,125

$20.995 $19.995

4 Pax w/Avail Fuel IFR Range (nm)

New Price (2020 Model) $USm

*Average Full Sale Transactions in the past 12 months, as of December 2020; Source: JETNET Data courtesy of B&CA; JETNET;

56 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

24

84

In Operation

0

7.1%

% For Sale

0%

12

1

Average Sold per Month*

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

Here, 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, overleaf).

In certain cases, aircraft may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS), based on a straight-line method meaning that equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are longer than recovery periods available under MACRS. There is a variety of factors that taxpayers must consider in determining if an aircraft



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5

Leading Edge 5 to view February.qxp_Layout 1 26/01/2021 10:22 Page 1

2012 Global 6000 s/n 9381

2004 Gulfstream G550 s/n 5035

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Engines on RRCC, APU on MSP, New Paint & Interior January 2021, ATG-5000, PlaneView Avionics System

2010 Pilatus PC-12 NG s/n 1226

2015 Gulfstream G450 s/n 4329

2,500 Hrs TT, Executive 6 + 2 Seating, Jeppesen Chartlink, Factory Service Center Maintenance

2,180 Hrs TT, 14 Pax Aft Galley, Engines on RRCC, APU on MSP, 1 U.S. Lessee/Owner

1999 Gulfstream GV s/n 574

On RRCC, Paint & Interior by Gulfstream, 1 U.S. Corporate Owner Since New, Honeywell Plane Deck w/ Synthetic Vision

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.

AirCompAnalysis.qxp_ACAn 27/01/2021 10:58 Page 5

JET COMPARISON

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

1

2

3

4

5

6

20.0%

32.0%

19.20%

11.52%

11.52%

5.76%

MACRS Schedule for PART 135 Year Deduction

1

2

3

4

5

6

7

8

14.29%

24.49%

17.49%

12.49%

8.93%

8.92%

8.93%

4.46%

Source: NBAA

Table D - Praetor 600 MACRS Depreciation Schedule 2020 Embraer Praetor 600 - Private (Part 91) Full Retail Price - Million $20.995 Year

1

Rate (%)

20.0%

Depreciation ($M)

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

$4.199

$16.796 $4.199

2

3

4

5

32.0%

19.2%

11.5%

11.5%

$10.078

$6.047

$3.628

$1.209

$6.718

$10.917

$4.031

$14.948

$2.419

$17.367

6

5.8%

$2.419

$19.786

$1.209

$0.000

$20.995

2020 Embraer Praetor 600 - Charter (Part 135) Full Retail Price - Million $20.995 Year

1

Rate (%)

14.3%

Depreciation ($M)

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

$3.000

$17.995 $3.000

2

24.5%

3

17.5%

4

12.5%

5

8.9%

6

8.9%

7

8.9%

8

4.5%

$5.142

$3.672

$2.622

$1.875

$1.873

$1.875

$0.936

$8.142

$11.814

$14.436

$16.311

$18.184

$20.059

$20.995

$12.853

$9.181

$6.559

$4.684

$2.811

$0.936

$0.000

Source: B&CA

may be depreciated, and if so, the correct depreciation method and recovery period that should be utilized. For example, aircraft used in charter service (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 this Act, taxpayers may be able to deduct up to 100% of the cost of a new or pre-owned aircraft purchased after September 27, 2017 and placed in service before January 1, 2023.

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

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

Table D (left) depicts an example of using the MACRS schedule for a 2020-model Embraer Praetor 600 in private (Part 91) and charter (Part 135) operations over five- and seven-year periods.

Table E, left, meanwhile, depicts an example of using the MACRS schedule for a 2020-model Embraer Legacy 500 in private (Part 91) and charter (Part 135) operations over five- and seven-year periods.

Asking Prices & Quantity

In December 2020, there were no Praetor 600 business jets available on the pre-owned market. By comparison, six Legacy 500s were available, but with all six inviting offers there was no asking price data to share.

While each aircraft serial number is unique, the Airframe Total Time (AFTT) and age/condition of an aircraft will cause great variation in the price of a specific jet – even between two aircraft from the same year of manufacture. Therefore, a final negotiated price must be decided between the seller and buyer before the sale of an aircraft is completed.

Table E - Legacy 500 MACRS Depreciation Schedule Embraer Legacy 500 - Private (Part 91) Full Retail Price - Million $19.995 Year

Rate (%)

Depreciation ($M)

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

1

20.0%

2

32.0%

3

19.2%

4

11.5%

5

11.5%

6

5.8%

$3.999

$6.398

$3.839

$2.303

$2.303

$1.152

$3.999

$10.397

$14.236

$16.540

$18.843

$19.995

$15.996

$9.598

$5.759

$3.455

$1.152

$0.000

Embraer Legacy 500 - Charter (Part 135) Full Retail Price - Million $19.995 Year

Rate (%)

Depreciation ($M)

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

1

14.3%

$2.857

$17.138 $2.857

2

24.5%

3

17.5%

4

12.5%

5

8.9%

6

8.9%

7

8.9%

8

4.5%

$4.987

$3.497

$2.497

$1.786

$1.784

$1.786

$0.892

$7.754

$11.251

$13.749

$15.534

$17.381

$19.103

$19.995

$12.241

Source: B&CA

58 Vol 25 Issue 2 2020 AVBUYER MAGAZINE

$8.744

$6.246

$4.461

$2.677

$0.892

$0.000

Productivity Comparisons

The points in Chart E (opposite) are centered on the Embraer Praetor 600 and Embraer Legacy 500 only, and highlight how the Praetor 600 performs as an upgrade on the Legacy 500.

Pricing used in the vertical axis is as www.AVBUYER.com

w

AirCompAnalysis.qxp_ACAn 27/01/2021 11:02 Page 6

AVBUYER.com

1.

2.

3.

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

Chart E - Productivity Comparison $30.0

Prices (millions)

published in the B&CA Equipped Price 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:

1.000

2.500

Index

Chart F - Super Mid-Size Jet Productivity Comparison $40.0 $35.0 Falcon 2000S

$30.0

Longitude

$25.0 $20.0 $15.0

Challenger 350 Gulfstream G280

Sovereign+ & Legacy 450

Praetor 600

Legacy 500

$10.0 $5.0 0.000

1.000

1.500

2.000

2.500

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

technology’ within the Super Mid-Size Jet market.

Operators should weigh up their mission requirements precisely when picking which jet is the best for them, however. There is much for a prospective buyer to consider when deciding which aircraft, and which performance criteria is better suited to them. T

MIKE CHASE Mike’s analytical and consultancy services are highly valued within the Business Aviation industry. He is founder and president of Chase & Associates, and works closely with several respected sources to compile his unique Aircraft Comparative Analysis features. Contact Mike via mike@avbuyer.com

www.AVBUYER.com

2.000

1.500

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

Prices (millions)

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

Let’s circle back to the question posed at the outset: ‘Is the Embraer Praetor 600 an example of disruptive technology?’

While new to the market, the Praetor 600 offers best-in-class range with four passengers (at over 4,000nm), all at a lower price point. These are often critical factors to business jet buyers. Therefore, while upgrading its Legacy 500, Embraer’s Praetor 600 simultaneously appears to have provided an example of ‘disruptive

Legacy 500

$15.0

$5.0 0.000

Super Mid-Size Jet Productivity Comparison

In Summary

Praetor 600

$20.0

$10.0

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

As of June/July 2020, a new Praetor 600 had a slightly higher price ($20.995m) than a new Legacy 500 ($19.995m) and has a higher hourly variable operating cost. But it also offers greater range and Available Payload with Full Fuel.

The points in Chart F, meanwhile, display the Praetor 600 and Legacy 500 in the wider context of the Super Mid-Size Jet market.

Again, the pricing used in the vertical axis is as published in the B&CA Equipped Price Guide.

$25.0

COMPARE, CONTRAST, DECIDE

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AVBUYER MAGAZINE Vol 25 Issue 2 2021

59

Values Intro OCT.qxp_Finance 26/01/2021 13:41 Page 1

VALUES - MID-SIZE JETS

AVBUYER.com

Business Aircraft Values: Mid-Size Jets Of all the business jet

categories, none does more to balance

capability with utility

than the Mid-Size Jet segment; and no

segment provides

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

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

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

Runway requirements for Mid-Size Jets are generally longer than the average length needed

F

60 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

by a Light Jet – but nevertheless Mid-Size Jets can still access a significant percentage of the secondary airports serving most of the 150 largest metropolitan areas in the US. Indeed, Mid-Size Jets generally can match their Large Cabin kin in terms of speed and, to a point, their range, while providing reasonable office amenities that are competitive with most larger aircraft. With all of the above considered, it is little wonder that the Mid-Size Jet segment is the biggest selling, deepest segment across the business aircraft market.

Medium Jet Price Guide

The following Mid-Size Jet Average Retail Price Guide represents current values published in the Aircraft Bluebook–Price Digest. The study spans model years from 2001 through Winter 2020. Each reporting point represents the current average retail value published in the Aircraft Bluebook by its corresponding calendar year.

For example, the Cessna Citation Latitude values reported in the Winter 2020 edition of the Bluebook show $10.5m for a 2016 model, $10m for a 2015 model and so forth. Aircraft are listed alphabetically. With the reader’s knowledge of aircraft, equipment, range and performance, the following Guide allows the reader to determine the best value aircraft for consideration.

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Retail Values OCT.qxp_RPG 26/01/2021 13:49 Page 1

VALUES - MID-SIZE JETS

Mid-Size Jets: 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

19.0

16.0

14.0

13.0

12.5

12.0

11.5

2013 US$M

2012 US$M

10.0

9.5

9.0

3.2

3.0

3.5

3.3

2.7

2.5

6.0

5.5

7.2

6.9

6.6

6.2

5.7

5.4

10.0

9.0

2011 US$M

MODEL BOMBARDIER CHALLENGER 350

10.5

BOMBARDIER CHALLENGER 300 BOMBARDIER LEARJET 75 LIBERTY

9.0

BOMBARDIER LEARJET 75

9.5

BOMBARDIER LEARJET 70

7.5

6.75

6.25

5.75

5.25

4.75

4.25

6.5

-

5.25

-

4.25

3.75

3.25 3.4

BOMBARDIER LEARJET 60XR BOMBARDIER LEARJET 60SE BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR BOMBARDIER LEARJET 40 10.0

CESSNA CITATION X+

8.0

7.5

7.0

6.5

CESSNA CITATION X CESSNA CITATION LONGITUDE

21.0

19.0

CESSNA CITATION LATITUDE

16.0

14.0

13.0

11.5

10.5

10.0

CESSNA CITATION SOVEREIGN+

16.0

13.5

11.5

10.5

9.5

9.0

8.5

CESSNA CITATION SOVEREIGN CESSNA CITATION XLS+

11.0

9.5

8.5

8.0

7.6

7.1

6.6

19.5

16.0

15.0

13.5

12.5

11.5

10.5

13.5

12.5

11.5

10.5

9.5

15.0

14.0

13.0

12.0

8.0

CESSNA CITATION XLS CESSNA CITATION EXCEL DASSAULT FALCON 50EX EMBRAER LEGACY 500 EMBRAER LEGACY 450 EMBRAER PRAETOR 600

20.5

18.0

EMBRAER PRAETOR 500

16.5

15.0

GULFSTREAM G280

21.0

17.0

11.0

5.4

GULFSTREAM G200 5.5

5.0

HAWKER 4000

3.5

3.3

HAWKER 900XP

4.9

4.4

7.5

GULFSTREAM G150

7.0

6.5

6.0

GULFSTREAM G100

HAWKER 850XP (PRO LINE) HAWKER 800XP/I (PRO LINE) HAWKER 800XP 2.9

HAWKER 750 AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM

62 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

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Retail Values OCT.qxp_RPG 26/01/2021 13:50 Page 2

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What your money buys today

Winter 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

MODEL YEAR $ MODEL BOMBARDIER CHALLENGER 350

8.5

8.0

7.5

7.0

6.5

6.0

5.5

BOMBARDIER CHALLENGER 300

5.0

BOMBARDIER LEARJET 75 LIBERTY BOMBARDIER LEARJET 75 BOMBARDIER LEARJET 70 2.8

2.6

2.4

BOMBARDIER LEARJET 60XR

2.2 2.2

2.1

2.0

BOMBARDIER LEARJET 60SE

1.9 1.8

3.1

2.3

2.9

2.1

2.7

1.9

2.5

2.3

2.1

1.9

1.7

2.0

1.8

1.6

1.4

1.3

1.7

1.4

1.2

1.3

1.1

1.05

1.7

1.6

1.2

1.1

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

0.95

CESSNA CITATION X+ 4.5

3.5

3.3

3.1

2.9

2.7

2.5

2.3

2.1

1.9

CESSNA CITATION X CESSNA CITATION LONGITUDE CESSNA CITATION LATITUDE CESSNA CITATION SOVEREIGN+

6.3 5.2

6.0

5.7

5.0

4.8

4.2

4.0

5.4

5.1

4.8

4.5

3.8

3.6

3.4

3.2

CESSNA CITATION SOVEREIGN CESSNA CITATION XLS+

4.0

3.8

3.6

CESSNA CITATION XLS

2.9

2.8

2.7

2.6

CESSNA CITATION EXCEL

3.4

3.2

3.0

2.8

DASSAULT FALCON 50EX EMBRAER LEGACY 500 EMBRAER LEGACY 450 EMBRAER PRAETOR 500 EMBRAER PRAETOR 600 GULFSTREAM G280

5.0

4.6

4.2

3.8

3.6

4.5

4.0

3.5

3.0

2.5 2.4

3.2

3.0

2.8

2.6

2.4

GULFSTREAM G200

2.2

2.0

1.8

1.6

1.4

GULFSTREAM G100/ASTRA 1125 SPX

GULFSTREAM G150

3.1

2.7

2.5

HAWKER 4000

3.9

3.5

3.1

HAWKER 900XP

3.0

2.7

2.5

HAWKER 850XP (PRO LINE)

2.2

HAWKER 800XP/i (PRO LINE)

1.8 1.7 2.4

2.0

1.7

1.6

1.5

1.4

HAWKER 800XP HAWKER 750

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

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GLOBAL XRS

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S N 920 2

GULFSTREAM G650

SN 6302

GULFSTREAM G200 S N

203

FALCON 900EX EASY

S N 18 1

CHALLENGER 601-3A

S N 5116

CITATION X

S N 92 48

GULFSTREAM G450

FALCON 7X S N

FALCON 50

1 92

SN 150

CITATION SOVEREIGN S N

CITATION ULTRA

S N 15 4

S N 41 65

31

SN 533

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Flight Dept 1 FWEB21.qxp_Finance 25/01/2021 15:48 Page 1

FLIGHT DEPARTMENT MANAGEMENT ANDRE FODOR With a focused approach on global excellence and creativity, Andre Fodor has managed flight operations for the U.N. and Flight Options as well as being a senior demonstration pilot and instructor for Embraer Aircraft. He is the Aviation Director for his current employer. https://www.linkedin.com/in/andrefodor/

Integrate the Right Jet into Your Flight Department (Part 2) The boss has given the green light, and the flight department is moving forwards with an aircraft acquisition: What happens now? Andre Fodor shares tips on how Flight Departments can ensure a smooth aircraft integration between making the offer and taking delivery… evel at FL430 with perfect weather, we are headed west on a beautiful New Year’s Day towards the OEM’s service center, and a first major inspection for our airplane. I had been involved in the acquisition of the airplane five years before when it was brand new, and had managed the jet ever since.

Planning its operational life since it was new brought advantages and additional flexibility.

Take, for example, the fact the airplane was originally delivered in December, and we were starting the inspection in January (just over five years later). Normally, this would mean the jet was out of warranty, which would have been a very costly mistake on our part, since items found during the inspection would not be covered.

December is traditionally a ‘push’ month for aircraft deliveries, which also means it’s a very busy month for the start (and subsequent end) of aircraft maintenance cycles. Service centers can

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become overloaded in December, a problem that is also compounded by the holidays.

Anticipating this, at the time of purchase, we negotiated an extension on our warranty allowing us to stretch the inspection into January.

(This also had the advantage of enabling us to support the principal’s holiday travel without needing to source supplemental lift.)

I share this story to emphasize how forwardplanning will impact the successful integration of an aircraft into the flight department. Think ahead, make a list of your priorities, and plan in years, not months.

Strategies for Successful Integration

Forward-planning should be the bedrock of any aircraft acquisition and its integration into your operation. With that in mind, the following paragraphs may assist with developing sound strategies toward that goal.

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Aircraft Selection: I was once retained as a consultant to advise on the purchase a new aircraft for another flight operation. The buyer knew exactly which aircraft they wanted.

While the aircraft selection process seemed simple enough, the challenge came from a negotiating standpoint: Without any other contenders in the equation, there was no leverage for us to improve the deal.

Broadening the approach, we looked at comparable aircraft offering similar size, performance and price. Once the OEM knew other models were in the frame, there was more incentive for them to fight for our business, enabling us to improve the deal. Moreover, having considered all of the viable options, the client made a better and more informed overall purchase.

The Letter of Intent (LOI): Providing the framework for the entire purchasing process, once you’ve

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decided on an aircraft you should take time to think what’s important in the deal, adding it to the LOI. Have frank discussions with your principal and with the sales team, gathering all the answers that you need.

Alternatively, you can sign an LOI – especially when dealing with a market that’s light on inventory — stating your interest in the asset, but leaving enough room to negotiate the details later. Although the LOI is essentially the framework for a deal, there should always be room to polish the final contract (or exit the deal if it’s no longer worth pursuing).

Preparing for Delivery and Start-Up: With the LOI signed and accepted, it’s time to start working towards delivery and start-up.

If you’re acquiring an airplane that is not yet built, you have plenty of time to get this right. But, over thirty years of buying and selling airplanes, I have mostly had less than three months between

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FLIGHT DEPARTMENT MANAGEMENT

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“The culmination of this process is the first flight of the aircraft. It’s very rewarding to reach the date of delivery with a well-planned process, and with all the paperwork and inspections complete and accepted.” signing the LOI and taking delivery. Most of the time, it’s important to move quickly and efficiently.

Focus on finding the right people to staff your team. For example, if you are in the market for a Mid-size or a Large Jet, it’s vital to have the right Director of Maintenance (DoM) – and preferably one with previous experience with the platform. The right DoM will certainly add a measure of calm to the delivery process.

If you don’t have an experienced DoM for the aircraft type, hire a delivery specialist who is, and who can assist with the acceptance process.

Regarding the flight crew, select the right personalities for the job, training them early, and integrating them into the delivery process as soon as possible. This will help give the crew exposure to the airplane and improve their proficiency as they accompany the delivery and participate in the acceptance flights.

Don’t allow staffing your team to become your sole focus, though. In tandem with crew selection, it’s important to consider securing the necessary Letters of Authorization (LOAs) that your new airplane will need.

LOAs could take months to be issued, so work well ahead of when they’re needed. The sooner you start, the better for your operation. To name a few, ADS-B, RVSM, FANS, MNPS and MEL will require substantial paperwork. This is an area where you will need an experienced manual development company, letting them do what they do best.

You’ll also need to select a legal team to close

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the transaction. These are the professionals who handle the paperwork transfer, registration and title of the airplane. Hiring a firm with a solid track record will help assure you the paperwork is ready and compliant so the asset transfers smoothly. Moreover, your funds will be protected until all legal requirements have been fulfilled, according to law.

Together with an aviation accountant (who will advise on the best method of depreciation, funding, and even the best physical location for transaction completion), these external team members will give you peace of mind that your deal is good, both legally and fiscally.

You should also purchase in advance the equipment necessary to make the airplane operational. Blankets, pillows, galley supplies, defibrillators – the list is extensive, and will include items of preference to your principal.

Enjoying the Crescendo

The culmination of this process is the first flight of the aircraft. It’s very rewarding to reach the date of delivery with a well-planned process, and with all the paperwork and inspections complete and accepted.

For your principal, this may be the culmination of decades of hard work and wealth-building, and a cause for great celebration. Being able to share in that celebratory moment, rather than be embroiled in a rush and dash to resolve last minute hurdles, will be a special moment for you too.

The scenario that ultimately plays out will depend on how you plan for this day…T

ANDRE FODOR ARTICLES

at AVBUYER.com

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F

MARIO PIEROBON is a safety management consultant and content producer. He currently is working on a research project investigating aircraft ground handling safety.

Contact him via marioprbn@gmail.com

How a Single Pilot Can Offset Risk in a BizAv Cockpit (Part 1) What are the main safety issues for single-pilot operations? How can they be addressed, and how can single pilots develop specific skills to offset the additional risks associated with flying solo? Mario Pierobon asks the experts... multi-pilot crew is generally beneficial from a safety perspective, since pilots can share tasks, alternately flying and monitoring responsibilities, cross-checking one another and communicating thoughts to improve the overall management of air missions.

Nevertheless, Business Aviation often relies on single pilot operations as multi-pilot crews may not be possible due to operational arrangements, weight restrictions, and aircraft certification aspects. Therefore, it’s important that single pilots maintain safety accountability, even without an accountability partner.

There are specific strategies to embed safety accountability in single-pilot operations, and this two-part story seeks to discuss them.

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Single Pilots: What are the Main Safety Issues?

“There are numerous safety issues in single pilot operations, but ultimately it boils down to decisionmaking and knowing one’s own limits”, says Kim Hutchings, Chief Executive Officer of Volomission.

According to crew resource management (CRM) trainer and human factors (HF) expert Thomas Fakoussa, the main safety issue of single-pilot operations has to do with how to stay in self-control, no matter what the situation might be.

“Only pilots capable of staying consciously in control of themselves can remain the master of their ship,” Fakoussa says. “However, normal training doesn’t offer any support for this [type of] mental training.” Though a regular flight instructor can offer training in teaching and learning,

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FLIGHT DEPARTMENT MANAGEMENT

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“When flying single pilot, there is nobody else sat beside you to voice doubts or bounce ideas off; to point out mistakes; to question decisions; to reduce the workload; and to uphold standards...”

Fakoussa argues, academic knowledge doesn’t mean the flight instructor excels in teaching discipline, attitude and communication skills.

When flying single pilot, there is nobody else sat beside you to voice doubts or bounce ideas off; to point out mistakes; to question decisions; to reduce the workload; and to uphold standards, notes Alex Pollitt, a helicopter pilot and CRM trainer.

“These aspects are all difficult to achieve when flying single pilot, and are – after all – most of the rationale for operating aircraft with more than one pilot,” he adds.

Recalling his personal experience of operating as a single pilot, Pollitt has been thankful on many occasions for the presence of another person in the aircraft. “They may not be a pilot; they may not even be another crew member or aviation professional, but they can still play many of the ‘challenging’ roles to some extent,” he explains.

“Just the simple act of voicing thoughts out loud to another individual can galvanize the cognitive process, causing you to reflect on something you might not otherwise have considered, or perhaps it can even move decision-making forward.”

How to Address the Safety Issues

According to Hutchings, the safety issues of single-pilot operations can be addressed by including more training about human performance and behaviour. “It’s not just the type of training to recognise hypoxia, fatigue, or what spatial disorientation is,” she suggests, but to train in how to handle pressure, for example.

“Do you speak up? What is the company culture like, and how does that influence your decision-making?,” she asks. “Other questions that should be addressed in

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training include what expectations are placed on you? Do those expectations meet, or exceed, your own?

“Do you know your limitations – and are you honest about them? As a single pilot, it is important to learn and know as much about one’s own limitations? as it is to know about the aircraft you fly,” Hutchings explains.

Pollitt believes that when a pilot is alone in the cockpit, talking out loud can have a beneficial effect. “This is a behaviour that would normally make me feel foolish, but it somehow helps to uphold standards, maintain a sense of professionalism, and aid the thought process,” he says.

“Carrying out a walk-round twice as a single pilot might be better than once, but not much, because the same person will tend to look at the same things in the same way and is unlikely to notice anything new,” Pollitt adds.

“These issues can be mitigated with good CRM practices, of course.”

A single pilot carrying passengers could invite them to look over the aircraft as well, explaining that if they see anything unusual, interesting, or that they are simply curious about, then they should ask, he suggests. “That way the pilot’s attention might be drawn to something they would not otherwise have noticed.”

Developing Single Pilot Abilities

Without a peer in the cockpit, single pilots clearly need to develop specific skills to detect their own errors, mishaps or excessive risk-taking, and this can be achieved through single pilot CRM. Single pilot CRM is simply the application of normal CRM principles and practices, but adapting them. “Single pilots can ask themselves, for example, how to build a peer review, or another point-of-view, into every stage of their planning and decision-making process,” Pollitt suggests. “[This could be] a trusted colleague, friend, or instructor who you can call to get a second opinion on a weather decision, before flight,” he suggests. “If you have any kind of ‘should I or shouldn’t I’ doubts with respect to planning, find someone to voice them to and get a second opinion.”

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FLIGHT DEPARTMENT MANAGEMENT

Air traffic controllers and other pilots can be a source of information or even assistance, either directly, or by interpreting the nuances in their communication. “Maybe their tone of voice is questioning, for example,” Pollitt elaborates. “But, of course, all of this involves the practice of good communication.”

Likewise, Threat and Error Management (TEM) for single pilots applies the same principles as it does in the multi-pilot crew environment. “In fact, it undoubtedly requires an even higher level of self-discipline and questioning than a multi-pilot environment would, because there’s nobody else to point out the mistakes,” Pollitt explains.

“Techniques such as pointing, pausing, and verbalizing before any significant action are even more relevant, and doubly important. That is how mistakes are caught. Single pilots should give themselves time to catch mistakes.”

Fakoussa argues that detecting an error is not usually the problem, per se. “The error will eventually be detected when an effect or result sets in. Error detection becomes a bigger problem the later the pilot detects it.”

He offers the example of a generator failure which, if discovered too late, could see the battery already empty.

“So, the single pilot needs more situational awareness than a two-pilot crew”, he reasons.

“They must continuously check the inside of the cockpit and the wider area outside for weather, traffic, and obstructions. In addition, they must listen to the radio and concentrate on navigation while controlling the aircraft. ad re Re Mo

AVBUYER.com

“This alone requires a lot of practical and mental training which one gets during usual flight training,” he adds. “What is not being trained these days is the art of how to remain in self-control even in frightening situations.”

A pilot’s loss of control in such circumstances is called ‘startle effect’. Avoiding it requires a very difficult ‘teaching and learning’ approach that “has to be adjusted to the pilot’s personality and his or her cognitive and mental brain functions,” Fakoussa says.

And, while excessive risk-taking is primarily a matter of self-discipline, there are some easy-to-apply techniques to prevent a pilot from taking unplanned risks, or allowing the appetite for risk to grow in flight.

“This is a process that often happens unconsciously and insidiously,” Pollitt elaborates. “Simply drawing your own red lines around the flight activity in advance will contain the risk-taking element – or at least highlight the fact that you’re drifting into riskier territory than intended.

“Applying a personal minima to heights, speeds, fuel, and manoeuvres, as well as imposing decision-points at given stages of a flight, will bind the risk to a set of definable parameters”, he concludes. T

Next Time:

Stay tuned for Part 2, in which we’ll discuss strategies for raising safety awareness, and how to get the most out of single pilot CRM training…

FLIGHT DEPARTMENT MANAGEMENT ARTICLES

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at AVBUYER.com

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877.531.1450 jetappraisals.com

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COMMUNITY

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OEM Bites

C

Airbus Helicopter undertook a 95-minute first flight test of All Nippon Helicopter’s (ANH’s) Airbus H160, paving the way for the aircraft’s entry into service in Japan. Currently, ANH deploys a helicopter fleet comprising six AS365s and five H135s for electronic news gathering for TV stations across Japan. This H160 will replace one of its AS365s. www.airbus.com/helicopters.html

First European Embraer Praetor 500 Conversion Embraer has announced the completion of the first European conversion of a Legacy 450 to a Praetor 500 for an undisclosed customer. he conversion of a 2,900nmrange Legacy 450 into a 3,340nm-range Praetor 500 requires replacement of the level-sensing wiring in the fuel tanks, the over-wing gravity fueling ports to be moved, relocation of the fuelmeasurement system, and reinforcement of the wing ribs to hold additional weight.

Collins Aerospace’s Pro Line Fusion flight deck and the Praetor’s swept winglets are also installed. In all, Embraer has converted 11 aircraft to date.

This first European conversion was performed at the Embraer Executive Jets Service Center at Le Bourget International Airport, in Paris, France. Other centers able to perform the conversion include Embraer's own Service Centers at Windsor Locks, Connecticut and Fort Lauderdale, Florida, in the United States, and Sorocaba, in Brazil.

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With the Praetor 500 comes an unparalleled blend of technology, comfort, and performance, according to Embraer. In terms of technology, the Praetor 500 features the industry-first E2VS — a head-up display that combines synthetic and enhanced vision. Moreover, the Praetor 500 is the only Mid-size business jet with full fly-by-wire flight controls and turbulence reduction capability.

Recent updates to the Praetors include enhancements for cabin safety — a standard HEPA air filter, the MicroShield 360 cleaning solution, and electric lavatory pocket door — plus the certification of a synthetic vision guidance system (SVGS).

More information from https://executive.embraer.com/

Bombardier announced a firm order for 10 Challenger 350 Super Mid-Size Jets recently, in a transaction valued at US$267m – an order that Eric Martel, President and CEO of Bombardier Inc., says “highlights the tremendous value” customers place on the jet. The Challenger 350 offers a seats full, tanks full range of 3,200nm. www.bombardier.com

Daher says the EcoPulse distributed propulsion hybrid aircraft demonstrator (being developed with Safran and Airbus, with the support of France’s CORAC civil aviation research council) has successfully passed its Preliminary Design Review. With first flight scheduled in 2022, assembly of the aircraft can now begin. www.daher.com www.AVBUYER.com

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Asset Insight Appoints David Wyndham Asset Insight, LLC recently announced that prominent aviation industry executive David Wyndham has joined the Asset Insight team as Vice President, Asset Insight Consulting Services.

Having authored more than 275 articles in aviation publications, including AvBuyer, Mr. Wyndham is a well-known and respected expert, author and speaker in the Business and General Aviation community.

ad r Re Ou

Glenn Hogben

an outstanding member of the Asset Insight team” said Tony Kioussis, president of Asset Insight, LLC. “David will be responsible for broadening the company’s consulting presence within Business Aviation, as Asset Insight expands its community of entities and personnel to offer a wide variety of information and asset value optimization services.

He commenced his aviation career with the US Air Force, and went on to hold executive positions with Jet Support Services, Inc. (JSSI) and Conklin & de Decker, where he was a partner and the firm’s president.

“David’s intellect, deep knowledge and understanding of the aviation industry will allow him to bring unique value to the Asset Insight team and customers. We are delighted David will be joining the Asset Insight family.”

“With his broad experience and track record within the aviation industry, David will make

More information from www.assetinsight.com.

DAVID WYNDHAM ARTICLES

Brent Hudecek

Glenn Hogben is the new Chief Executive at The Air Charter Association (The ACA). With more than 17 years’ experience in aircraft charter, leasing and management, Hogben joined The ACA in 2008 and was elected to the non-executive Board in 2017.

Brent Hudecek has joined the Duncan Aviation Avionics Sales team, and will be based at the company’s Lincoln, Nebraska facility.

Hudecek arrives in Lincoln via Dallas, Texas, where he worked as an internal avionics sales rep for an Original Equipment Manufacturer (OEM) for the past 18 years.

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Matthieu Rosanvallon

Matthieu Rosanvallon joins Freestream Aircraft as Director of Sales and Acquisitions. He will help the Freestream team build and maintain its presence in the United States. Prior to joining Freestream, Matt was Sales Director, Mid-Atlantic for Guardian Jet. Having two close family members with very long-term industry involvement, Mr. Rosanvallon has always had a passion for Business Aviation.

Todd Spangler was appointed by Jetcraft as Sales Director, covering Florida, Central and South America, helping strengthen the company’s presence in the Americas. Spangler

at AVBUYER.com

Todd Spangler

Jason Thuman

joins Jetcraft following a 25-year career in Business Aviation, with senior level sales positions at Bombardier, Elliott Jets, Hawker Beechcraft and NetJets.

Jason Thuman was promoted by Duncan Aviation as manager at the company’s Satellite Shop in Kansas City, Missouri. He made the transition from Duncan Aviation’s full-service facility in Lincoln, Nebraska, to the Satellite Shop in January. T

UNDERSTANDING BUSINESS AVIATION with AvBUYER.com

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• Extra counter space to make food and drink preparation easier • Electric Lumbar Support on 6 selected single seats and 2 selected double seats.

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SMS 2005 Bombardier Global Express February.qxp_Heeren Cit Ultra sep 27/01/2021 10:56 Page 1

S H O W C A S E

MAKE OFFER 2005 Bombardier Global Express Serial Number: 9148 Registration: VH-LBU Airframe TT: 3,930.6 Landings: 1240  BATCH 3.3 AVIONICS UPGRADE COMPLETED  ENROLLED ON ROLLS-ROYCE CORPORATECARE, HONEYWELL MSP, AND SMART PARTS PLUS  EXTERIOR REPAINT AND INTERIOR REFURBISHMENT COMPLETED NOVEMBER-2015  INCREASED MTOW TO 98,000 LBS. (SB 700-11-016)  CREW FORCE MEASURING SYSTEM (SB 700-31-020)  AUTOPILOT EMERGENCY DECENT MODE (SB 700-22-003) Engines Rolls Royce BR700-710A2-20 Left engine Right engine S/N: 12409 12410 THSN: 3,760.7 Hours 3,760.7 Hours TCSN: 1177 Cycles 1177 Cycles HSI DUE/OVERHAUL DUE On Condition PROGRAM COVERAGE RRCC APU Honeywell RE220(GX) Program Coverage Honeywell MSP Avionics & Connectivity EFIS (Electronic Flight Instrument System) 6-Tube 8”x7” Honeywell DU-870 Color Displays FMS (Flight Management System) Triple Honeywell NZ-2000

GPS (Global Positioning System) Dual Honeywell GP-550 IRU (Inertial Reference Unit) Triple Honeywell Laseref IV MADC (Micro Air Data Computer) Triple Honeywell AZ-840 NAV (Navigation Radio) Dual Honeywell RNZ-851 Interior & Entertainment NUMBER OF PASSENGERS Sixteen (16) GALLEY LOCATION Forward FWD CABIN CONFIGURATION Four (4) Place Executive Club MID CABIN CONFIGURATION Four (4) Place Conference Group Opposite Two (2) place divan Exterior BASE PAINT COLOR(S) Matterhorn White STRIPE COLOR(S) Anthrocite Grey/Silver Grey LAST PAINTED DATE November-2015 Serial number 9148 is an excellent 2 owner from new, fully programmed, up to date on all AD’s / SB’s, well cared for aircraft, in excellent condition with no known damage history.

Currently the latest model lowest time Classic GLEX available for sale, and to my knowledge, was 4th last Global Express to deliver.

Official ask is “Make Offer” Including 180 Month inspection, Phase 1 Ovation CMS install, and 6 months projected forward maintenance recently completed at Execujet MRO Sydney in December 2020. Aircraft will be positioned to Dallas/Love Field USA later this month, where it will stay through February, then move to L.A. area until sold. (assuming not sold prior)

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

82 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

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

www.AVBUYER.com

Jetsense Aviation January.qxp_Empyrean 27/01/2021 10:43 Page 1

S H O W C A S E

1997 Beechcraft King Air 350 Serial Number: Registration: Airframe TT: Landings:

FL-175 SE-LLU 6670 6159

 ADS-B Out Compliant  RaisbeckNacelle Wing Lockers  FrakesExhaust Stacks  TCAS II  EU OPS 1  UNS 1E FMS  11 Passenger Interior  Basic Empty Weight: 9908 lbs  Rosen Passenger Audio and Video Entertainment –Incl Moving Map & Briefing System  Gill Lead Acid Battery STC  Enrolled on CAMP Engines Description: S/N: THSN: TCSN: THS OHI:

Left engine PT6A-60A PCE-PK0075 6545 Hours 5765 Cycles 2379 Cycles

Props Description: HC-B4MP-3 TSOH: Left: 828. Right: 828

Right engine PT6A-60A PCE-PK0072 6597 Hours 6007 Cycles 2500 Cycles

Avionics & Connectivity ADS-B Out Compliant EFIS System 1 Collins Pro Line II EFIS 85 3 Tube VHF Communication 2 Collins VHF-22C VHF Navigation 2 Collins VIR-32A FMS/GPS 1 UNS-1E Flight Director 1 EFIS 85 Autopilot 1 Collins APS-65 ELT 1 Artex ELT C406N Automatic Direction Finder 1 Collins ADF-60A Distance Measuring Equipment 2 Collins DME 42 Multi-Function Display 1 Universal MFD-640 Radio Altimeter 1 Collins ALT 50A HF Radio 1 King KHF 950 (Provisions) Cockpit Voice Recorder 1 Fairchild S-100 Traffic Collision Avoidance System 1 Collins TCAS 4000 Version 7.1 Flight Data Recorder 1 Fairchild F1000 SSFDR Transponders 2 Collins TDR-94D EGPWS 1 Honeywell Mark VIII (Class A) RVSM 1 Elliott STC SA2264CH Compliant Weather Radar 1 TWR-850 Color Radar Interior & Entertainment Year Refurbished: March 2015 at Elliott Aviation w/ new Headliner and EMTEQ Lighting Installed Number of Passengers: Eleven (11) including Belted Lav and Dual Aft Foldup Seats Lav Location: Aft (Belted) Exterior Painted at Elliott Aviation March 2015 Base Color: Matterhorn White. Accent and Stripe Colors: Flight Red and Taxiway Yellow Call for Pricing

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

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

AVBUYER MAGAZINE Vol 25 Issue 2 2021

83

Mesotis 2011 Cessna Citation CJ2+ February.qxp 27/01/2021 10:44 Page 1

S H O W C A S E

2011 Cessna Citation CJ2+ Serial Number: Registration: Airframe TT: Landings:

525A-04834 N188MP 1407 1133

• ONE OWNER SINCE NEW • TAMARACK WINGLETS • LH BELTED, FLUSHING TOILET • PROPARTS Engines Engines 1: 1407 hours / 1133 cycles Engines 2: 1407 hours / 1133 cycles

Interior & Entertainment • ST-3100 Iridium Satellite Phone • Crew Seat Sheepskin Covers • Airstair Style Step • Seat Back Pockets (except seat #3) • AvVisor Plus Display • Mirror on upper portion of aft dividers • 110V Universal Outlets Location Serbia Make offer

Avionics & Connectivity • Single ADF Capability • Garmin GPS-500 • HF-9000 (Provisions) • FA2100 CVR (provisions) • TCAS-4000 (TCAS II) • Mark VIII EGPWS • Electronic Charts • Pilot’s AOA Indexer • Voice Annunciator • Mobil Jet II

Mesotis Jets Thomas Thums Fleischmarkt 7/3 1010 Vienna Austria

84 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

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

www.AVBUYER.com

Aviatrade DHC8-315 November.qxp 27/01/2021 14:45 Page 1

S H O W C A S E

2005 DHC8-315 MSN 613 Serial Number: Airframe TT: Landings:

C-GIXF 5.425 7.337

• Offered exclusively for sale as is where is with a Canadian COFA • Fresh from major C check and fully technically refurbished • One of the last built Q300 for sale with extremely Low Time • Aircraft was used as a Corporate Shuttle for Oil Industry • Look like brand new • PW123E LH Engine AW0106 FRESH FROM OVERHAUL by PWC FHSN 5.373 FCSN 7.186 • PW123E RH Engine AW018 FRESH FROM OVERHAUL by PWC FHSN 5.459 FCSN 7.325 • APU Hamilton Sundstrand SP-E035170 TCSN 8.830lAst HSI 16 SEP 14 • Landing gears ALL FRESH FROM OVERHAUL • ALL PROPS FRESH FROM OVERHAUL PAINT ONGOING ARTIC WHITE

Equipment Manufacturer Dual Comm Allied Signal Dual Nav Allied Signal Dual AHRS Honeywell Dual DME Allied Signal Dual RMI Honeywell Dual Alt Honeywell Alt Alerter Sperry Dual ADF Allied Signal Dual Audio Cont Avtech Radar Allied Signal ELT Pointer Dual HSI Honeywell Dual FD Honeywell Stby Alt Aero Mech Dual Clock Davtrom Stby Art Horizon Sfena Radio Alt Honeywell GPWS Sundstrand DFDR Sundstrand FDAU Teledyne CVR Sundstrand Air Data Comp Honeywell TCAS Comp Allied Signal Dual Trans Mode S Allied Signal TCAS Controller Allied Signal Dual VSI/RA Indicators Allied Signal Dual Directional Ant Allied Signal

Part Number KTR902 KNR634 AHR600 KDM-706A D3137LB2-1C 4016341-905 7004577-903 KDF-806 01-01-61 RDS-86 4000 7001179-951 7001182-909 8047-10DH 73910193-001 H321ALM1 7001840-912 965-0476-088 980-4100DXUN 2228150 ANV557C 7000700-975 066-50000-8102 066-01127-1101 071-01503-3801 066-50002-8101 DMN4-7

Number 2 2 2 2 2 2 1 1 3 1 1 2 2 1 2 1 1 1 1 1 1 2 1 2 1 2 2

Other: All other equipment standard DHC-8

AVITRADE Albert-Frédéric Bloem Emmanuel Paillier

www.AVBUYER.com

Mob: +32-475.621.539 Mob: +1 514 348 5589 a.bloem@avitradebelgium.com emmanuel.paillier@gmail.com

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M A R K E T P L A C E

Dassault Falcon 900LX

The Ritchie Group Price:

Please call

Year:

2010

S/N:

244

Reg:

-

TTAF:

3,685.1

Location: USA & Canada

Tel: +1 (314) 409-4791 E-mail: sales@jet-transactions.com INQUIRE TODAY! LOW HOURS, IMMACULATE U.S. FORTUNE500 OWNED. Heavily Optioned — 2020 Compliant with Fresh Engine MPI’s. EASy II w/ADS-B Out/FANS 1A/CPDLC and Honeywell EASy II Cert 4 Upgrade. Seller Paid PreBuy Completed At DFJ Little Rock. GoGo L5 Avance. Fully Programmed. TLSN: 1,995. Maintenance Tracking CAMP. 2016 Interior by WestStar Aviation. Passengers 14. Galley Location Forward. Forward Cabin Configuration Four (4) place executive club setting with foldout tables. ELT. Electronic Jeppesen Charts.

Uplink Weather Capability. Telescopic Tow Bar.

www.jet-transactions.com

BAe Avro RJ70

Price:

USD $4,500,000

Year:

1994

S/N:

E1258

Reg:

LZ-TIM

TTAF:

23573

Location: Bulgaria

Airbus/Eurocopter AS 365N-3

Tel: +359 889 996 930 E-mail: georgi.georgiev@air.bge

Georgi Georgiev

Nigel Watson Price:

Please call

Year:

2008

S/N:

6815

Reg:

M-LVIA

TTAF:

955

LZ-TIM is equipped with state of the art VIP class interior. The sophisticated atmosphere is complemented by the unique lighting, creating a comforting ambience regardless of the flight’s duration.

The spacious custom environment will be your own high class lounge in the sky. The seats are carefully crafted out of first class materials in order to bring you the traveling comfort only a few air travelers in the world can enjoy. The highest quality digital video and audio system will keep you entertained until you safely reach your destination. 1 x 42’’ plasma screen. 5 x 23’’ LCD screens. Multi speaker surround sound. DVD/CD/MP3 with integrated connectivity. Remote control.

Tel: +44 (0)162 488 0135, +44 (0)776 544 4043 E-mail: emma@nigelwatson.im 5 passenger VIP Cabin, blue and silver paint. Has exclusively been for VIP operation.

Immediately available to view. Full valuation report and equipment lists available to interested parties.

Well maintained; airworthy & operational with no damage history; fresh annual 4/19. Fully enrolled on PBH and SBH since new. Eng #1 - 3240h; Eng #2 - 955.

Proposals for refurbishments to paint and interiors available.

Location: France

Airbus/Eurocopter EC 145

Nigel Watson Price:

Please call

Year:

2009

S/N:

9242

Reg:

M-LUNA

TTAF:

1455

Location: France

Airbus/Eurocopter AS 350B-3

Rafal Konieczny

Tel: +44 (0)162 488 0135, +44 (0)776 544 4043 E-mail: emma@nigelwatson.im Only 1455TT, 7 passenger VIP Cabin, blue and silver paint.

Has exclusively been for VIP operation.

Available from November 2019. Full valuation report and equipment lists available to interested parties.

Well maintained; airworthy & operational; fresh annual 9/20.

Fully enrolled on PBH and SBH since new. Eng #1 - 1455h; Eng #2 - 1449h.

Proposals for refurbishments to paint and interiors available www.nigelwatson.im/brokerage/ec145

E-mail: przemyslaw.kral@adwokatkral.pl

Price:

€1,700,000Excl. VAT Privat announcement, netto price 1.700.00EUR. No damaged

Year:

2011

history, total full equipment autopilot, glasscocpit, klima...

S/N:

7076

Only 700h. Please contact only email: przemyslaw.kral@adwokatkral.pl

Reg:

SP-SRB

TTAF:

700

Price Reduced

Location: Poland

86 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

www.AVBUYER.com

P086-088.qxp 28/01/2021 10:21 Page 2

Bombardier Learjet 36A

Leonard Price: Year: S/N:

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

C 1977 Recent paint and interior, RVSM. E 36A-030

Reg:

N160GC

Competitively priced at US $1,375,000, may take trade on a King Air or a helicopter

TTAF:

15,600

Would consider trade for KingAir 200/300

Location: USA

BELL 412EMS

Price Reduced

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

Bell 206B II

Ian Hutchinson Price:

£320,000Excl. VAT

Year:

1974

S/N:

1301

Reg:

G-GEZZ

TTAF:

6394

Tel: +44 (0)797 128 5949 E-mail: hutchy@blueyonder.co.uk Beautiful Metalic Blue Body Fresh 1750Hrs Turbine HMI 1st AND 2nd Stage Wheels-New Avionics: Garmin 430 GPS/NAV/COMM Trig TT31 Mode S Transponder Air CON Range Extender Luggage Extender

Location: United Kingdom

McDonnell Douglas 500E

Frazer Oliphant-Hope Price:

Make offer

Year:

1987

S/N:

0260E

Reg:

N7NP

TTAF:

1155

Location: United Kingdom

www.AVBUYER.com

Tel: +44 (0)776 669 1241 E-mail: frazeroh@outlook.com A BEAUTIFUL LOW HOURED MD500E WITH A FRESH ANNAUL AND BI ANNUAL, WELL MAINTAINED AND ALWAYS HANGARD. Engines: ALISON C20B. Avionics: GARMIN GMA 340 AUDIO PANEL. GNS 430 COMM 1. GARMIN COMM 2.

GARMIN GMS VOR. Int: PRESENTED WITH DARK FAWN LEATHER SEATS WITH LIGHT FAWN CARPET WITH PIPING AROUND THE EDGES. Ext: PRESENTED WITH A BASE OF MID BLUE WITH ACCENT COLOUR OF SKY BLUE WITH GOLD ACCENT LINES. ROTOR BRAKE. FARGO AUX FUEL TANK LOW SKID GEAR. CABIN DOOR OPENERS

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M A R K E T P L A C E

Price:

€300,000Excl. VAT

Year:

1980

S/N:

1361

Reg:

F-GCTO

TTAF:

21787

Location: France

McDonnell Douglas 902 Explorer

Price:

Make offer

Year:

2000

S/N:

900-00074

Reg:

G-SASR

TTAF:

6621

Tel: +44 (0)794 359 1121 E-mail: bobby@dynamicpitch.net A great example of an MD902 Explorer in excellent condition.

Available to purchase now. The aircraft is presented in attractive British Racing Green adorned with a striking swirl of Super White, complimenting those classic Explorer lines. The MD902 Explorer posseses No Tail Rotor (NOTAR) Technology, an ultra smooth rotor system with plenty of ground clearance, spacious cabin, and powerful Pratt & Whitney engines. All resulting in a supremely capable and cost effective helicopter. The true definition of a multirole helicopter, this MD902 Explorer is a worthy addition to your helicopter fleet. Engines: PW206E. Pratt & Whitney ESP Gold Plan

Tel: +90 532 252 57 59 E-mail: ali@acromach.com

Mach Aviation Price:

USD $1,770,000

Year:

2009

S/N:

0591E

Reg:

N591E

TTAF:

475

Location: Turkey

Airbus/Eurocopter AS 350B-3

As is where is. Aircraft under tansport public agreement. Still in operation. Eng: M03 & M05: 15H remaining time. Left sliding door. Energy absorbing front seats. Dual control (fixe & remove parts). Float (only fixe parts). High Skid Landing Gear. LED AntiCollision & position Light. Avionics: VHF-S/E King KY 196A (STC) and KY 196B. Brite Saver. Transponder King KT73. ELT Kannad 406AF-H. Int: Black leather seats. Cabin in grey alcantara. Grey carpet. Bose sound system. Windscreen wiper L & R. Ground handling wheels. Float (only fixe parts).

Dual control. 2 Bose headset

DynamicPitch Ltd

Location: United Kingdom

McDonnell Douglas 500E

Tel: +33 (0) 2 35 809 416 E-mail: contact@helievenements.com

Olivier Boutté

Airbus/Eurocopter AS 350BA

LOWEST TIME MD500E ON THE MARKET. Only 475 hrs TTSN. Like brand new. Privately owned. No damage history. Well maintained and always hangered. With fresh annual. All applicable ADs and SBs complied with. Excellent maintenance history and records. Perfect paint scheme. Full leather interior with seat protectors. All components have the same time with airframe. Engines: Rolls Royce 250-C20B. Avionics: Slant Panel. Bose Interface. Garmin GNS-430W NAV/COM/GPS. Garmin GNC 420W COM/GPS. Ext: Perfect Paint Scheme. SH8719SW Tech-Tool Wedge Windows. SH401GL Facet Scavenge Oil Filter. SH4889NM CAI Trim Panels

Tel: +33 (0) 617 675 405 E-mail: sales@herreos.eu

H2I HELICOPTERS Price:

Please Email

Year:

2008

S/N:

4569

Reg:

F-XXXX

TTAF:

2342

Location: France

Aircraft Spare Parts

Wheels, Starters, Brakes, etc.

Outright and Exchange

DIRECT OWNER. NO DAMAGE HISTORY. 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)). Ensemble anneau de turbine P/N 0292447320 (price for parts 55 133€ + Man Force (Ce 2018 FCA Tarnos). SINCE these exhange FEW hours and FEW NG Cycles were consumed

Par Avion Ltd

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

FALCONS • HAWKERS • LEARS

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

www.paravionltd.com

Manufacturer of Select GSE & Speciality Tooling Preowned GSE also available

www.AlberthAviation.com 88 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

Buy * Sell * Trade

SALES • ACQUISITIONS • CONSULTING

832-934-0055 www.AVBUYER.com

P089.qxp 28/01/2021 12:15 Page 1

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

.com

www.

Advertiser’s Index Action Aviation..................................................... 49

Global Jet Capital................................................ 47

AeroBuyNow ........................................................ 23

Global Jet Monaco .......................................... 5 - 7

MRO Section Index

Aircraft BlueBook................................................ 75

Hatt & Associates ............................................... 15

Aero-Dienst........................................................... 39

Airfleet Capital ..................................................... 69

Jetbrokers.............................................................. 77

Atlas Air Service .................................................. 43

AirGO .................................................................... 55

Jetcraft Corporation............................. 16 - 17, 92

Collins Aerospace............................................... 35

Airline Transport Professional............................75

JetHQ............................................................ 28 - 29

Dassault Falcon Pre-Owned. . ......................... 11

AMSTAT................................................................. 80

JETNET ................................................................. 64

Duncan Aviation................................................... 29

Aradian Aviation................................................... 79

Jet Sense Aviation............................................... 83

Engine Assurance Program .............................. 13

Avitrade.................................................................. 85

Leading Edge Aviation Solutions..................... 57

Gogo Business Aviation .................................... 33

Avpro...................................................................... 65

Lone Mountain Aircraft Sales........................... 51

Honeywell ............................................................. 21

Castle Air .............................................................. 71

Marbale Universal................................................ 81

Oriens Aviation ....................................................... 7

Central Business Jets ........................................ 91

Mesotis Jets.......................................................... 84

Pratt & Whitney.................................................... 17

Dassault Falcon Pre-Owned. ....................... 2 - 3

OGARAJETS ....................................................... 61

Rolls Royce Corporate Care ........................ 2 - 3

Duncan Aviation................................................... 33

Par Avion ............................................................... 19

Stevens Aerospace............................................... 5

Eagle Aviation ...................................................... 41

Registry of Aruba ...............................................1, 9

Super Legacy....................................................... 27

ElliottJets .............................................................. 37

SMS Aircraft......................................................... 82

TAE Aerospace .................................................... 41

Freestream Aircraft..................................... 24 - 25

Sparfell & Partners ..................................... 20 - 21

General Aviation Services ................................. 73

The Jet Business......................................... 10 - 11 PROUD MEMBERS OF

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

AvBuyer (USPS 014-911), January 2021, Vol 25 Issue No 1, is published monthly by AvBuyer Ltd, 1210 West 11th Street, Wichita, KS 67203-3517 and has a targeted circulation to decision makers within business and corporate aviation throughout the world. It is also available on Annual Subscription @ UK £40 and USA $65. POSTMASTER: Send address changes to: AvBuyer Magazine 1210 West 11th Street, Wichita, KS 67203-3517. Postage is paid at Wichita, KS and additional mailing offices © Copyright of AvBuyer Ltd. Every effort is made to ensure the accuracy of material published in AvBuyer Magazine. However, the publishers cannot accept responsibility for claims made by manufacturers, advertisers or contributors. The views expressed are not necessarily those of the Editor or the publishers. Although all reasonable care is taken of all material, photographs, CD & DVDs submitted, the publishers cannot accept any responsibility for damage or loss. All rights reserved. No part of AvBuyer Magazine - Advertising, Design or Editorial - may be reproduced, stored in a retrieval system, or transmitted in any other form, or by any other means, electronic, mechanical, photographic, recording or otherwise, without prior written permission of the publishers.

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AVBUYER MAGAZINE R Vol 25 Issue 2 2021 R

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Aircraft For Sale • AIRCRAFT • HELICOPTERS

AIRCRAFT

PAGE

AIRCRAFT

AIRBUS A318 Elite . . . . . 5 A319 VIP . . . . . . 5 ACJ320 . . . . . . . 49

BRITISH AEROSPACE BAeAvro RJ70 . . 86

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 24 BBJ2 . . . . . . . . . 5 BBJ3 . . . . . . . . . 92 787-8 . . . . . . . . . 24 787-9 . . . . . . . . . 17

PAGE

X . . . . . . . . . . . . . 19, 29, 65 XLS . . . . . . . . . . . . 37, 65 XLS+ . . . . . . . . . . . 41 CJ2. . . . . . . . . . . . . 20 CJ2+ . . . . . . . . . . . 17, 84 CJ4. . . . . . . . . . . . 20 Excel . . . . . . . . . . 20, 73 Grand Caravan EX. 17 Sovereign. . . . . . 37, 41, 65 T210N . . . . . . . . . 77 Ultra . . . . . . . . . . . 20, 65 206H . . . . . . . . . . 77 340A RAM VI . . . 41 500 . . . . . . . . . . . . 77 510 Mustang . . . 51

CIRRUS SF50G2 . . . . . . . 51

BOMBARDIER Global 5000 . . . . 16, 17, 19, 92 Global 6000 . . . . 5, 11, 16, 17, 57, 92 Global Express . 5 Global Express XRS. 5, 6, 10, 17 . . . . . . . . . . . . . . . 65, 82, 92

Challenger 300 . . . . . . . . . . . 5, 61, 73 601 . . . . . . . . . . . 61 601 3A/ER. . . . . 65, 91 604 . . . . . . . . . . . 49, 92 605 . . . . . . . . . . . 5, 10, 17, 33, 92

Learjet 31 . . . . . . . . . . . . 29 31A . . . . . . . . . . . 33, 77 36A . . . . . . . . . . . 87 40XR . . . . . . . . . . 33 45 . . . . . . . . . . . . 16 45XR . . . . . . . . . . 15, 29, 33 55 . . . . . . . . . . . . 17, 77 60 . . . . . . . . . . . . 17, 77, 92 60SE . . . . . . . . . . 91 75. . . . . . . . . . . . . 17, 92

DASSAULT FALCON 7X . . . . . . . . . . . . 3, 5, 17, 25, 49, 65, . . . . . . . . . . . . . . . 91, 92 20F-5BR . . . . . . . 37 50 . . . . . . . . . . . . 65, 77 900B . . . . . . . . . . 17, 90 900DX. . . . . . . . . 73 900EX . . . . . . . . . 17 900EX EASy . . . 2, 17 900LX . . . . . . . . . 10, 17, 86, 90 2000 . . . . . . . . . . 73, 2000EX. . . . . . . . 91 2000EX EASy . . 17, 90 2000LXS. . . . . . . 2 2000LX . . . . . . . 17, 90

DE HAVILLAND

AIRCRAFT

PAGE

Lineage 1000E . 23 Phenom 100 . . . 37 Phenom 300 . . . 20, 33, 37, 73, 79

AIRCRAFT

PAGE

SOCATA TBM 700B . . . . . 41 TBM 930. . . . . . . 37

GULFSTREAM IV . . . . . . . . . . . . . 21 IVSP . . . . . . . . . . 79 V. . . . . . . . . . . . . . 57, 79 150 . . . . . . . . . . . 77 200 . . . . . . . . . . . 17, 65 280 . . . . . . . . . . . 37, 91 450 . . . . . . . . . . . 23, 25, 49, 57, 65, . . . . . . . . . . . . . . . 79 500 . . . . . . . . . . . 81 550 . . . . . . . . . . . 11, 21, 49, 57, 79, . . . . . . . . . . . . . . . 92 650 . . . . . . . . . . . 5, 16, 17, 25, 57, 65 650ER. . . . . . . . . 25, 49

HAWKER BEECHCRAFT King Air 200XPR . . . . . . . 77 250 . . . . . . . . . . . 61, 350 . . . . . . . . . . . 41, 83 350i . . . . . . . . . . . 15 B200 . . . . . . . . . . 23 C90GTi . . . . . . . . 79 E90 . . . . . . . . . . . 41

Beechcraft 1900D . . . . . . . . . 23 B60Duke . . . . . . 77

HELICOPTERS AIRBUS/ EUROCOPTER AS 350B . . . . . . . 86 AS 350B3. . . . . . 88 AS 350BA . . . . . 88 AS 365N-3 . . . . . 86 EC 120B . . . . . . . 79 EC 130B4. . . . . . 29 EC135T2 . . . . . . 79 EC145. . . . . . . . . 86

AGUSTAWESTLAND AW109E Power . 21, 71 AW109S Grand. .21, AW109SP. . . . . . 17, 92

BELL 206BII . . . . . . . . 87 212 . . . . . . . . . . . 87 412EMS . . . . . . . 79, 87

Hawker 400A . . . . . . . . . . 29, 77 800XP . . . . . . . . . 21, 29, 79 850XP. . . . . . . . . 45 4000 . . . . . . . . . . 15, 45

MD 500E . . . . . . . . . . 87, 88 902 Explorer . . . 88

DHC8-315 . . . . . 85

PILATUS PC12 NG . . . . . . 57

EMBRAER CESSNA

Legacy 500 . . . . 45 Legacy 600 . . . . 17 Legacy 650 . . . . 5, 7, 17, 20, 49, 92 Lineage 1000 . . 91

Citation II . . . . . . . . . . . . . 77 III . . . . . . . . . . . . . 77

PIPER M600. . . . . . . . . . 51 Cheyenne IIIA . . 77

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Copy date for the March 2021 Issue - Wednesday 17th February 2021

90 Vol 25 Issue 2 2021 AVBUYER MAGAZINE

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CBJ February.qxp_CBJ November06 27/01/2021 14:50 Page 1

General Offices

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Minneapolis / St. Paul

TEL: 52.55.5211.1505

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EMAIL: INFO@CBJETS.COM

Embraer Lineage 1000E SN190-00611

2015 Falcon 7X SN267

Only 1,324 Hours and 562 Cycles Since New; Preferred 19 Passenger Interior, World Wide Ready, Transferrable Warranty and Maintenance Programs

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 / Etc…

D L SO 2003 Falcon 2000EX SN14

2004 Falcon 900C SN199

ProLine 21 Avionics Upgrade, All new soft goods throughout with Led wash lights, all plating is new.

The interior of all drawers were redone to match new colors throughout the aircraft. Synthetic Vision System, Electronic Charts, FANS 1/A, CPDLC, ADS-B Out V2, WAAS/LPV, Gogo Advance L5 WIFI, ESP Gold, MSP Gold, CASP, 10 PAX Configuration (Preferred)

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

2014 Gulfstream G280 SN2039

Challenger 601-3A/ER SN5132

Single owner since new, Enrolled in all Programs (Honeywell MSP Gold & Gulfstream Planeparts), 1,744 Hours, 568 Landings, 4 Year Heavy Check completed at Gulfstream Appleton, FANS/CPDLC, ADS-B, WAAS/LPV, Well maintained, 9 place interior

1 U.S. Corporate Owner Since new, Extended Range Tail Tank, Max T/O Weight Increase to 45,100 lbs, ADS-B Out, WAAS/LPV, Honeywell 36-150 APU Upgrade, 20" LCD Bulkhead Monitor, Polyfab Thermal Acoustical Insulation, Seats & Divan recovered 2018/2019

D L SO 2005 Lear 60SE SN282

2019 Airbus Helicopter SN8528

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

Loaded Optional & Additional Equipment (Total Costs $1,631,600 USD), Factory Airframe Warranty through: July 18th, 2022, July 2019 In-Service Date, only 125 hours, Genesys Helisas Autopilot, Aerodynamix Navigation STC, Churchill Navigation ARS700GP Moving Map w/ DVR

www.cbjets.com

The smoothest connection to your next aircraft.

2010 BOMBARDIER GLOBAL 5000 S/N 9359 • 2,444 Hours; 745 Landings • Enrolled on Engine, APU & Airframe • Batch 3.3 Upgrades Installed

A passionate team of aviation experts, our strategic approach and action-oriented thinking have made us the global leader for aircraft sales and ownership services.

With our worldwide network and inventory, industry connections and regional presence, we are the difference between getting an aircraft… and getting your aircraft.

2014 DASSAULT FALCON 900LX S/N 276 • 2,316 Hours; 1,111 Landings • Fully Enrolled on Mx Programs • Fresh C-Check at DAS, Le Bourget

2008 BOEING BBJ3 S/N 37560

2006 DASSAULT FALCON 2000EX EASy S/N 095

• 3,230 Hours; 984 Landings • Fresh 12 Year Inspection •A DS-B Out & FANS 1/A Compliant

• 4,408 Hours; 2,429 Landings • Enhanced EASy II - Cert 4 • FANS 1/A, CPDLC, LPV & ADS-B Out

2006 BOMBARDIER CHALLENGER 604 S/N 5627

2015 BOMBARDIER GLOBAL 6000 S/N 9606 • 5,258 Hours; 1,196 Landings • Fresh 60 Month Inspection • Inviting Best Offers

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

• 4,704.6 Hours; 2,704 Landings • Gogo AVANCE L5 WiFi • ADS-B Out V2 / WAAS

I N FO @ JETC RAF T. CO M

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ALSO AVAI L ABLE 2011 AGUSTA AW109SP FEATURED 2015 BOEING 787-9 2011 CHALLENGER 605 2012 GLOBAL 5000 2013 GLOBAL 5000 2018 GLOBAL 6000 2010 GLOBAL XRS 1990 FALCON 900B 2006 FALCON 2000EX EASy 2008 FALCON 2000LX 2016 FALCON 7X 2004 LEARJET 60 2019 LEARJET 75 2009 GULFSTREAM G550 2014 LEGACY 650

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