AvBuyer Magazine February 2015 by AvBuyer Ltd.

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AVBUYER February 2015

™

B U S I N E S S

A V I A T I O N

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

THIS MONTH Aircraft Finance Review proudly presents

2014 Gulfstream G650 Serial Number 6088 See pages 32 - 35 for further details

Engine-Maintenance Management Aircraft Comparative Analysis – Phenom 300 Safety Focus: When ‘No’ is Necessary www.AVBUYER.com

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P004 AC Index Feb15 22/01/2015 14:33 Page 1

Aircraft For Sale • AIRCRAFT • HELICOPTERS • PRODUCT & SERVICE PROVIDERS AIRCRAFT

PAGE

AIRBUS A318 Elite . . . . . 44 A319-115 . . . . . . 44 A319 CJ . . . . . . . 156 A320 VIP . . . . . . 156

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 19, 33, 35, 41, 52, 75 BBJ2 . . . . . . . . . . 44 CRJ-200 ER . . . . 19, CRJ-200 LR . . . . 52, 156 CRJ-900 . . . . . . . 75 S27-200 VIP . . . 75 737-200 VIP . . . . 41

BOMBARDIER Global 5000 . . . . 10, 44, 52, 139, 156 Global 6000 . . . . 61, 73, 156 Global Express . 10, 41, 52, 83, 156 Global Express XRS . 44, 156

Challenger 300 . . . . . . . . . . . 12 350 . . . . . . . . . . . 61 600 . . . . . . . . . . . 25 601-3A . . . . . . . . 73, 94 604 . . . . . . . . . . . 26, 44, 52, 75, 77, 79, . . . . . . . . . . . . . . . 83, 94, 156 605 . . . . . . . . . . . 44, 52, 72, 156 850 . . . . . . . . . . . 31, 52, 79, 156

Learjet 31A . . . . . . . . . . . 79, 95 31ER . . . . . . . . . . 69 35A . . . . . . . . . . . 94 36A . . . . . . . . . . . 149 40XR . . . . . . . . . . 143 45 . . . . . . . . . . . . 13, 21, 47, 58, 73, 79, . . . . . . . . . . . . . . . 95 45XR . . . . . . . . . . 13, 35, 73, 79, 156 60 . . . . . . . . . . . . 21, 35, 52, 73, 60SE . . . . . . . . . . 95, 156 60XR . . . . . . . . . . 53, 73, 95, 133

CESSNA Citation II. . . . . . . . . . . . . . 43 V. . . . . . . . . . . . . . 13, 73 X . . . . . . . . . . . . . 12, 26, 35, 37, 47, 73, . . . . . . . . . . . . . . . 155 XL . . . . . . . . . . . . 12, 43, 131 XLS . . . . . . . . . . . 37, 58

AIRCRAFT

PAGE

XLS+ . . . . . . . . . . 37, 43, 156 CJ. . . . . . . . . . . . . 69 CJ1+ . . . . . . . . . . 13, 37 CJ2. . . . . . . . . . . . . 13, 39, 43, 83 CJ3. . . . . . . . . . . . 58, 69, 83, 144 Bravo . . . . . . . . . 39, 94, 148 Encore . . . . . . . . 13 Encore +. . . . . . . 13 Jet . . . . . . . . . . . . 150 M2 . . . . . . . . . . . . 43 Sovereign. . . . . . 12, 155 SII . . . . . . . . . . . . 68 Ultra . . . . . . . . . . 68, 73, 145 414A . . . . . . . . . . 43

EMBRAER EMB-145 EP ...41 Legacy 600 . . . . 53, 94, 135, 156 Lineage 1000. . . 53 Phenom 100 . . . 73

FAIRCHILD DORNIER 328 . . . . . . . . . . . 43 F300 . . . . . . . . . . 148

FALCON JET 7X . . . . . . . . . . . . 3, 11, 45, 47, 68, 154 7X EASy II . . . . . 83 10 . . . . . . . . . . . . 94 20E . . . . . . . . . . . 83 20F 5BR . . . . . . . 73 20-5F. . . . . . . . . . 155 50 . . . . . . . . . . . . 12, 73, 77, 155, 154 50-40 . . . . . . . . . 155 50EX . . . . . . . . . . 3, 12, 58, 154 900B . . . . . . . . . . 11, 12, 25, 61, 73, . . . . . . . . . . . . . . . 94, 142, 155, 156, . . . . . . . . . . . . . . . 154 900C . . . . . . . . . . 68, 154 900DX . . . . . . . . . 45 900EX . . . . . . . . . 11, 21, 154 900EX EASy . . . 53, 155, 156, 154 2000 . . . . . . . . . . 3,11, 26, 45, 47, 73, . . . . . . . . . . . . . . . 94, 129 2000LX . . . . . . . . 3,11, 26, 37, 58, 156, . . . . . . . . . . . . . . . 154 2000S . . . . . . . . . 3, 11

GULFSTREAM IV . . . . . . . . . . . . . 10, 11, 35, 73, 148 IVSP . . . . . . . . . . 19, 51, 134, 156

THE WORLD’S LEADING

AIRCRAFT DEALERS & BROKERS find one today 4

AVBUYER MAGAZINE – February 2015

AIRCRAFT

PAGE

AIRCRAFT

PAGE

V. . . . . . . . . . . . . . 61, 72, 97, 130, 148 100 . . . . . . . . . . . 37 150 . . . . . . . . . . . 61, 73 200 . . . . . . . . . . . 10, 25, 45, 79, 95, . . . . . . . . . . . . . . . 155 280 . . . . . . . . . . . 137 300 . . . . . . . . . . . 61 450 . . . . . . . . . . . 7, 10, 19, 35, 53, 95, . . . . . . . . . . . . . . . 142 550 . . . . . . . . . . . 7, 10, 20, 34, 44, 51, . . . . . . . . . . . . . . . 61, 73, 83, 138, 156 650 . . . . . . . . . . . 1, 10, 32, 61

SOCATA

HAWKER BEECHCRAFT

BELL

Beechcraft

206 BIII Jetranger 14 206 L4. . . . . . . . . 149 212 . . . . . . . . . . . 149 407 . . . . . . . . . . . 136 412 EMS . . . . . . 149 427 . . . . . . . . . . . 73

400A . . . . . . . . . . 39, 94 Premier 1 . . . . . . 73

King Air 200 . . . . . . . . . . . 94 350 . . . . . . . . . . . 73, 77 B90 . . . . . . . . . . . 94 B200 . . . . . . . . . . 37, 39, 69 C90 . . . . . . . . . . . 83, 150 C90B . . . . . . . . . . 13, 150 F90-1. . . . . . . . . . 69

Hawker 400XP . . . . . . . . . 39, 73, 79, 150 800A . . . . . . . . . . 68 800SP. . . . . . . . . 148 800XP . . . . . . . . . 7, 25, 47, 73, 77, 132, . . . . . . . . . . . . . . . 149 900XP . . . . . . . . . 12 1000B . . . . . . . . . 156 4000 . . . . . . . . . . 79

IAI Astra . . . . . . . . . . 95 Astra SP . . . . . . . 77 Astra SPX. . . . . . 73

SABRELINER 65 . . . . . . . . . . . . 94

PIAGGIO

TBM 700B . . . . . 95 TBM 700C2 . . . . 95, 140 TBM 850. . . . . . . 39

HELICOPTERS

AGUSTAWESTLAND A109E Power. . . 13, 14, 156 A119 KE . . . . . . . 83 AW139 . . . . . . . . 14 Grand . . . . . . . . . 83

EUROCOPTER AS 350 B3 . . . . . 83 BK 117C1. . . . . . 83 EC 120B . . . . . . . 83 EC 130 B4 . . . . . 37, 75 EC 135 T1 CDS . 83

SIKORSKY S-92A . . . . . . . . . 21 S-76C+ . . . . . . . . 14 S-76C++ . . . . . . 14, 21

CORPORATE AVIATION PRODUCTS & SERVICES PROVIDERS Aircraft Engine /Support . 57, 65, 113, . . . . . . . . . . . . . . . . . . . . . . . . 119, 152 Aircraft Perf & Specs . . . . . 78 Aircraft Title/Registry . . . . 105, 107, . . . . . . . . . . . . . . . . . . . . . . . . 109, 111, . . . . . . . . . . . . . . . . . . . . . . . . 115 Ground Handling . . . . . . . . 119

Avanti P180 II . . 83

PILATUS PC 12 NG . . . . . . 141

PIPER Cheyenne II . . . . 83 Meridan . . . . . . . 69

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Editor Welcome_JMesingerNov06 20/01/2015 12:39 Page 1

Editor’s

EDITORIAL Editorial Director / Publisher J.W. (Jack) Olcott 1- 201 572 9284 Jack@avbuyer.com

Welcome

Commissioning & Online Editor Matthew Harris 1- 800 620 8801 editorial@avbuyer.com

Possibly the world’s most recognized expert on the value of Business Aviation, Jack Olcott was President of the NBAA from 1992 through 2003, and today Jack’s network and personal knowledge of Business Aviation uniquely qualifies him as Editorial Director and Publisher, AvBuyer. Jack@avbuyer.com

Editorial Contributor (USA Office) Dave Higdon Dave@avbuyer.com Consulting Editor Sean O’Farrell +44 (0)20 8391 6775 Sean@avbuyer.com ADVERTISING Brittany Davies (USA Sales) VP Sales Cell: 01201 430 7350 Bd@avbuyer.com Linda Blackburn (USA Sales) 1- 614 418 7064 Linda@avbuyer.com Maria Brabec (European Sales) +420 604 224 828 Maria@avbuyer.com Karen Price 1- 800 620 8801 Karen@avbuyer.com STUDIO/PRODUCTION Helen Cavalli / Mark Williams 1- 800 620 8801 Helen@avbuyer.com Mark@avbuyer.com CIRCULATION Barry Carter 1- 800 620 8801 Barry@avbuyer.com AVBUYER.COM Michael Myburgh Michael@avbuyer.com Emma Davey Emma@avbuyer.com MANAGING DIRECTOR John Brennan 1- 800 620 8801 John@avbuyer.com USA OFFICE 1210 West 11th Street, Wichita, KS 67203-3517 EUROPEAN OFFICE Trident Court, One Oakcroft Road, Chessington, Surrey, KT9 1BD, UK +44 (0)20 8391 6770

Finding Smooth Air

n aviation parlance, we call it turbulence. The financial community calls it volatility. As the first month of the New Year played out, volatility was very much in evidence. At mid-month, the Dow Jones industrial average swung by over 425 points in just a few hours—up sharply in the morning’s opening trades and then plummeting, bouncing back to settle almost flat for the day. What’s an investor to do? When faced with turbulence we, in aviation, rely on technology and intelligence to find calmer skies. Weather services as well as onboard radar identify the best route to a smoother ride. Knowledge of the aircraft’s maneuvering airspeed provides the assurance that structural integrity will be maintained. Advanced avionics enable pilots to pinpoint their location in even the most adverse conditions. Special safety systems alert pilots to windshear. The keys are knowing what to do and when to act and having timely information to apply that knowledge effectively. Making the right management decisions regarding business aircraft also requires timely information as well as perspective regarding how best to use such intelligence. AvBuyer is dedicated to bringing you timely information that aids your understanding of the factors shaping Business Aviation, and helps you make the best decisions regarding acquisition, operation and overall management of business aircraft. Within this edition, you’ll find

indicators of the marketplace, case studies to reflect real-world conditions, and information about products and services. We analyze aircraft in detail and discuss flight department leadership. Your informational needs define our editorial mission. We employ print as well as electronic media online, and we broadcast email to keep professionals such as you informed. Such is our commitment to you. This month, Ken Elliott continues his series on aviation mandates with the aim of providing clarity to a very important but convoluted subject. Dave Higdon addresses engine maintenance. This forms one of a group of Flight Department section articles centered on powerplants this month. Reflecting Dave’s skill as an experienced observer of the Business Aviation community, he also surveys the changing nature of financing for business aircraft – a special focus for our BizAv Indicators section. David Wyndham adds his perspectives on financing options within our Boardroom section. Not to be missed this month, Pete Agur and George Dom provide key insights for aviation managers, while Mario Pierobon challenges aviation professionals to consider when saying ‘no’ to the boss is in the company’s best interests. AvBuyer—your source for Business Aviation Intelligence. Jack Olcott Editorial Director & Publisher, AvBuyer

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February 2015 – AVBUYER MAGAZINE

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Owned Aircraft Sales TrendsMarket Indicators

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tification

Editorial Focus 22

Aircraft Finance Review Financing business aircraft seemed more flexible in 2014 than in recent years, notes Dave Higdon. Could 2015 be an optimal time for an aircraft purchase?

Engine-Maintenance Management

What’s the best way to manage the maintenance needs of aircraft powerplants, ensuring they perform at their optimum level for your corporation?

Aircraft Comparative AnalysisPhenom 300 How does Embraer’s Phenom 300 perform against the Citation CJ4? Find out in this month’s Aircraft Comparative Analysis…

102

The Main Ingredient

Rani Singh discovers how Business Aviation is the recipe for success to Brad Pierce’s restaurant equipment business. 8

AVBUYER MAGAZINE – February 2015

www.AVBUYER.com

Aircraft Index see Page 4

Contents Layout Feb15 21/01/2015 17:45 Page 2

February 2015 Volume 19, Issue 2

Contents ❚ BizAv Intelligence 15

Market Indicators: Analysis, Reflections, Trends and Comment

Finance vs Cash: The key trends for new and used aircraft transactions

Residual Values: The effect on aircraft financing

Turbine Trends: Update on new and in-development business jets

❚ Flight Department

Retail Price Guide: Twenty-year Medium Jet price guide from Bluebook

Specifications: Medium Jet performance and specifications comparisons

❚ Boardroom 104 Cash, Finance or Lease: How should you obtain your next airplane? 108 Flight Department Liquidation: What happens when flight department closure is necessary?

Aviation Mandates: What you should know about CPDLC within NextGen (Part 1 of 2)

112 That Better Aviation Insurance Deal: Is it really such a good deal?

Engine Audits: Discover the key for avoiding a nasty surprise!

Engine Pre-Purchase Inspections: Understand an aircraft engines’ status and costs

116 Chartering your Company Aircraft: Have you considered the tax issues?

Your Aviation Services: Are you aiming too low? (Part 2 of 2)

Experience or Proficiency: Which pilot attribute would you choose?

When ‘No’ is Necessary: Have you ever had to tell the boss ‘No’?

‘Just Say No’: Three small words with very big safety implications

Advertising Enquiries see Page 8

❚ Community 121 BizAv Review: Dassault Falcon 8X Roll-Out, News, Appointments & Events

Next Month GAMA Year-End 2014 Shipment Analysis Safety: Keeping Pace with Technology Global & Domestic Flight Planning

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February 2015 – AVBUYER MAGAZINE

AvproFebruary 19/01/2015 15:15 Page 1

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MARKET INDICATORS ❚ BIZAV INTELLIGENCE

Trends, Forecasts, Analysis & Opinion BizAv Activity - Europe There were 50,825 European Business Aviation flights in December, according to WINGX. That’s a -0.6% decline year-on-year (YOY). This completes 2014 activity, with the full-year ending -0.5% short of 2013 (equivalent to 4,399 fewer flights during the year). Flights in Western Europe in December gained 3% YOY, with the number one market - France - gaining 5.2% YOY (+500 flights). Both the UK and Switzerland were up 4%, and Turkey bounced back with 8% gains. The month’s overall activity was offset by small declines in Germany and Spain, a larger drop in Italy, and stillaccelerating falls in activity in Russia (-18%) and Ukraine (-56%). Flights from the CIS to Europe were down -23% during 2014. Russia and Ukraine activity is Heavy Jet oriented, and its rapid decline has influenced the overall demand for business jets (down -3%) in December, and particularly for heavy jet charter (down -13% YOY). • Demand for Turboprop flights increased in December, up 9% in Netherlands; 12% in Austria; and 15% in Germany. • Super Light Jets gained some charter activity, Very Light Jets increased private missions by >25%, and ULR jets flew >10% additional sectors in both private and commercial operations. • Midsize and Light Jet segments lost activity in December, respectively -10% and -5% in hours flown. Light Jet charter flights slightly increased, but were offset by heavy declines in private flight activity in this segment. According to Richard Koe, Managing Director of WINGX Advance, “Activity in Western Europe has picked up over the last few months, and transatlantic connections have been strong all year, but flights out of Eastern Europe are falling around 15%, and connections with CIS territories were down 24% for the year. “A positive 2015 outlook depends on the avoidance of a deflation-led triple dip economic recession in the EU, a rapprochement with Russia, and the transmission of resurgent business optimism from the US to the European continent.” MI www.wingx-advance.com

BizAv Activity - US & Canada December 2014’s Month-Over-Month flight activity followed the usual holiday trend and posted a decrease from November to finish the period down -2.2% overall. Operational categories were on the negative side, with the exception of the Part 135 sector, which saw a 1.7% increase from November. The Part 91 and Fractional markets posted decreases of -5.0% and -1.1% respectively. Looking at the aircraft categories, all posted a decrease for the month with large cabin aircraft reporting the largest drop, down -3.3%. Small and mid-size cabin aircraft posted declines of -2.1% and -2.7% in that order. The turboprop segment posted a decrease of -1.3% month-over-month. There were a few bright spots in the monthly numbers: Part 135 turboprop activity increased 5.8% over November, for example.

Year-Over-Year

Reviewing year-over-year flight activity (December 2014 vs. December 2013), TRAQPak data indicates that December 2014 posted an increase for the thirteenth month in a row, up 1.6%. The results by operational category were mostly positive with Part 135 reporting the largest growth, up 3.3%. The Part 91 market finished the period up 1.6%. The Fractional market saw its first down month since March 2014, with a decline of -2.7% from December 2013.

Flight activity by aircraft category was positive for all aircraft, with turboprops leading the way, up 3.0%; the fourth straight month of increases for that market. Small and mid-size cabin aircraft posted year-over-year increases of 1.9% and 0.1% in that order. The large cabin market finished the period up 1.1%. The largest year-over-year gain for an individual segment occurred in the Part 135 turboprop market, which saw an increase of 11.4%.

Decem ber 2014 vs Novem ber 2014 T urboprop S mall Cabin Jet M id-Size Jet L arge Cabin Jet A ll Combined

P art 91 -5.2% -3.6% -5.3% -6.4% -5.0%

P art 135 5.8% -1.2% 0.5% -0.5% 1.7%

D ecem ber 2014 vs Decem ber 2013 T urboprop S mall Cabin Jet M id-Size Jet L arge Cabin Jet A ll Combined Advertising Enquiries see Page 8

P art 91 -2.0% 3.2% 5.0% 2.4% 1.6%

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MI www.argus.aero

P art 135 11.4% -1.7% -0.2% 0.7% 3.3%

F ractional -10.2% 2.3% -2.5% 5.1% -1.1%

A ll -1.3% -2.1% -2.7% -3.3% -2.2%

F ractional 1.7% 8.6% -6.8% -3.6% -2.7%

A ll 3.0% 1.9% 0.1% 1.1% 1.6%

February 2015 – AVBUYER MAGAZINE

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BIZAV INTELLIGENCE ❚ MARKET INDICATORS

Changing Face of the CIS The environment in the Business Aviation industry within the CIS has been somewhat ambivalent, according to KlasJet. The region’s traffic to Europe alone has dropped up to -23% while the average oil price for 2015 is expected to be $85/barrel. Owing to the challenges of the recent few months, traffic within the CIS has experienced an overall yearly decrease of 5-10%, according to WingX. While the economic and political environment will likely continue to stunt market developments in 2015, KlasJet’s CEO Vitalij Kapitonov believes it is too soon to start panicking, noting the unprecedented reduction of oil prices as a positive factor. “It is still too soon to speak about the worsening of the overall business conditions,” he insists. “After all, during the last few months Russia has seen at least one new player – SetFly Group entering the market, which means demand for private travel remains high. What has changed, however, is the portrait of the potential customer…” Kapitonov observes clients can be expected to become even more costconscious, especially as regards choosing their business travel provider. Local companies have already become more reluctant to pay for short-haul business class flights, and this trend can be expected to strengthen. Competition within the segment has intensified with

Canadian Business Aviation Economic Impact The Canadian Business Aviation Association’s (CBAA) Business Aviation Economic Impact Study clearly shows the size and importance of Business Aviation to the Canadian economy. Providing both a description of how businesses use their aircraft and crucially, the dollar value contribution to the Canadian economy some of the study highlights reveal: • •

business travel operators and legacy carriers both competing for premiumclass clientele. More business jet owners are expected to search for an option allowing them to reduce the risks associated with the high-costs of aircraft ownership. Some will try to sell their jets while others will seek aircraft management providers to make the most of their machines. “All in all, while political unrest and weakening of regional economies will undoubtedly present a whole set of challenges for the market players, most consumers will be able to benefit substantially from the stronger industry performance as lower industry costs and efficiencies are passed through,” concludes Kapitonov. MI www.klasjet.aero

• •

Business Aviation contributes $3.1 billion in direct economic outputs and $650 million in taxes every year; Employs 11,500 people directly, with $800 million in annual wages; Provides higher wages: Business Aviation annual wages average $69,000, well above the national aggregate average of $47,000; Canada is home to approximately 1,900 Business Aviation aircraft, including fixed-wing (76%) and rotor (24%), spread across Canada with the majority based in Quebec, Ontario, Alberta and British Columbia; Business Aviation is responsible for almost one out of five flights, or 18% of all domestic air movements in Canada; Furthermore, Business Aviation in Canada contributes an estimated $2.6 billion and $5.4 billion, in total gross domestic product (GDP) and total economic output, respectively.

To obtain a full copy of CBAA’s study, contact the association direct. MI www.cbaa-acaa.ca

2015 BizJet Deliveries to Soar! The business jet market is expected to grow by double digits in 2015, according to J.P. Morgan’s latest Business Jet Monthly update. Deliveries increased by about three percent in 2014, marking the first measurable growth since 2008, J.P. Morgan estimated. Deliveries should jump by 13 percent in 2015, buoyed by the introduction of models such as the Embraer Legacy 450/500, Cessna Citation Latitude and HondaJet. Inventory data, used-pricing stabilization and increased flying in the U.S. all support optimism for a return to growth, J.P. Morgan added. Despite this optimism, J.P. Morgan sees a softening in emerging market demand both from government restraints and lower oil prices. The weakening of emerging markets particularly affects large-cabin aircraft, since two-thirds of the demand for this category is outside North America. Only one-third of the demand for light jets comes from 16

AVBUYER MAGAZINE – February 2015

outside North America. “This distribution of risk is a reversal from the prevailing market dynamic for most of the time since the financial crisis, in which non-U.S. demand has supported large-cabin aircraft production while light jets have lagged,” J.P. Morgan noted. MI www.jpmorgan.com

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Aircraft Index see Page 4

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MARKET INDICATORS ❚ BIZAV INTELLIGENCE

Unexpected Oil Price Impacts Oil prices have fallen some fifty percent of late, and if sustained it’s bound to have some implications for an industry that relies on it, predicts Brian Foley. But not as you might expect… One might initially think that a drop in oil prices would benefit the entire civil aviation industry, but as Foley drills a little deeper there are actually two aspects to it: • The obvious benefactors of this windfall are the airlines who only recently had fuel bills that accounted for close to a third of their total operating costs. While the initial benefit of lower jet fuel may be diminished or postponed while unwinding from fuel hedging commitments, this will eventually have a huge overall impact on profitability. • Cargo and package carriers are in a position to reap the benefits of lower fuel prices (although it will be interesting to see how much longer they can justify the add-on fuel surcharges). • The low-end of General Aviation would benefit, from small pistons and helicopters through small- and medium-sized business jets (Cessna Citations and Bombardier Learjets). Lower fuel prices will further act as a sales catalyst since the smaller segment is very price elastic. • MRO and parts providers would see an increase in activity if airlines keep current aircraft longer rather than taking new ones. And FBOs, charter

and fractional providers could get a boost from increased flying activity due to lower fuel operating costs and an improving economy. There’s a flip-side to lower oil prices that negatively affects a much larger swath of the industry’s overall delivery value. • Airliner OEMs and suppliers risk weakened business cases for their new, premium-priced, fuel-efficient jets for which there are thousands of orders pending. With cheaper fuel making for a smaller component of operating budgets, airlines may reevaluate their new jet orders, in some cases favoring retaining their relatively young fleets even if they’re burning more low-priced kerosene. • The cost to extract energy for offshore oil and gas is typically higher than on land. Oil crews are flown to rigs on large, expensive helicopters which represent a big percentage of the civil rotorcraft industry’s yearly delivery value. Demand for this type of equipment will languish if new drilling is put on hold and rigs not breaking even are idled. In an unfortunate timing of events, a number of new helicopter models have just undergone costly development by the major OEMs to serve this market. • A final change will be seen in the sales distribution of business jets. Ever since the recession the only signs of strength were from the biggest, most expensive models, generated by China

The Template for Success (Part 2)

MI www.brifo.com

Once the first letter in BRIC, Brazil has been flirting with recession for several years now. All of this is difficult for Embraer, which is at least somewhat dependent on home country defense spending and general political support.

Last month, Richard Aboulafia outlined seven areas of success that have helped Embraer not only break into the top five Business Aviation OEMs, but do so with excellence. This month, he looks at the challenges it faces to stay there… 1. What next? The combination of product launch discipline and sheer luck we discussed last month resulted in some exceptional programs, like the Legacy and Phenom business jet series. But I have no idea what Embraer could do next. Competing with Airbus and Boeing directly is a charmless idea, while Marco Tulio Pelligrini, Embraer Executive Jets CEO, makes the smart point that Dassault and Gulfstream are flooding the segments right on top of Embraer’s niche with some impressive new products. After its crop of new programs kicks in, Embraer might need to live in a world where it’s harder to outperform the broader market. 2. Brazil. Nice people, awful government. The bureaucracy is wretched, and bad governance produces world-class scandals (Petrobras). And then there’s the economy. Advertising Enquiries see Page 8

and other emerging markets. Now with lower oil and commodity prices coupled with weaker economies, these markets have been greatly compromised. In place of big cabin private jets, the decimated small- and medium-sized jets will rise to the occasion since this segment’s sales center of gravity is aligned not with commodities, but with the fortunes of the US economy. “Major structural changes are already quietly afoot, and the effects will be profound,” Foley summarizes.

3. KC-390 orders. Getting 28 Brazilian Air Force orders and a few dozen letters of interest was like picking low-hanging fruit. To get more than these orders, Embraer needs to compete directly with Lockheed’s C-130J - a big challenge. 4. E2 pricing. Of the three jetliners about to be re-engined, the E-Jets had the shortest life in their current incarnation, and the lowest production numbers. The E2 will dominate its niche, but given those circumstances Embraer might find pricing a challenge relative to the larger jets (although direct competitors Mitsubishi and Bombardier have that problem to even worse degrees). Summary: Given the company’s track record, I would bet Embraer overcomes the above headwinds. They’ve faced greater challenges, and have come to dominate almost all of the segments they’ve chosen to attack. I can’t remember the last time I visited an airframer that impressed me with so much competence and professionalism… MI www.tealgroup.com

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February 2015 – AVBUYER MAGAZINE

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BIZAV INTELLIGENCE ❚ MARKET INDICATORS

In-Service Aircraft Technical Condition & Price An Asset Insight Index analysis conducted on November 30, 2014 covering 76 fixed-wing models and 1,493 aircraft listed ‘For Sale’ revealed the following Overall Market asset quality figures compared to the previous month (reference Table A)…

Table A

Maintenance Rating (ATC Score): An excellent Asset Technical Condition Score (an aircraft’s rating relative to its Optimal Maintenance Condition – achieved the day it came off the production line) was recorded, with the Rating improving eight AI2 basis points, to register 5.467 (compared to October’s 5.387). That rating was well above the Mid-Time/Mid-Life 5.000 level on the ATC Score scale of -5 to 10. Financial Rating (ATFC Score): A very good Asset Technical Financial Condition Score (evaluating scheduled maintenance event cost based on the aircraft Maintenance Rating) was also recorded, with the Rating remaining virtually unchanged and above the MidTime/Mid-Life 5.000 level (on the zero to 10 ATFC Score scale). November registered 5.015, versus October’s 5.012. Asset Exposure (ATFE Value): The average Asset Technical Financial Exposure Value (an aircraft’s accumulated maintenance financial exposure) worsened by nearly $115k for November as trades of quality assets increased the average aircraft’s accrued maintenance expense to more than $1.443m – the highest/worst figure achieved during the past 12 months. Exposure to Price Ratio (ETP Ratio): Spread in the ratio of Asset Exposure to aircraft Ask Price (ETP Ratio) for the aircraft tracked widened again this month, increasing by 45.5 percentage points, and the average worsened, increasing from 44.7% to 46.3%, the second highest figure of the past 12 months (Table B). Asset Insight considers anything over 40% to represent excessive Asset Exposure in relation to Ask Price, and the 1.6 percentage point ETP Ratio degradation was due to increased Asset 18

AVBUYER MAGAZINE – February 2015

Table C

Exposure and a decrease in Ask Price for all groups except Medium Jets (Table C).

Market Outlook

Overall, Asset Insight’s analysis revealed ongoing sales of quality assets, with available inventory decreasing by 21 aircraft. By asset group, the findings revealed: • Large Jets: Outstanding asset quality; slightly lower Ask Price; higher Asset Exposure; best ETP Ratio of all groups. • Medium Jets: Excellent asset quality; 12-month peak Ask Price; slightly improved Asset Exposure; high ETP Ratio. • Small Jets: Very good asset quality; 12-month low Ask Price; worst ETP Ratio among all groups. • Turboprops: Good asset quality; lowest 12-month Ask Price; increased Asset Exposure; worsening ETP Ratio. Average Ask Price registered a slight improvement (Table D), but that figure can be slightly misleading, as the gain resulted from weighted averaging and

Table B

Table D

Medium Jet pricing (the group with the largest fleet of aircraft and the only one to see a price improvement). Large Jet asset quality is outstanding at this time, and it will be interesting to see how many of these aircraft trade during the final month of the year (see March edition). For the second consecutive month, Medium Jet Ratings were excellent, placing them in second position. However, the group’s relatively high Asset Exposure value is likely to impede the successful completion of a number of transactions. Small Jet Asset Exposure remains too close to the average Ask Price to encourage transactions, but assets enrolled on an engine Hourly Cost Maintenance Program are likely to generate acceptable offers. Turboprops continue to offer good asset quality, even with the second highest Exposure Value posted during the past 12 months. When combined with the group’s sixth consecutive Ask Price decrease, Turboprops continue to offer prospective buyers the ability to create good value. MI www.assetinsightinc.com ❚

View the latest prices for jets for sale at www.AVBUYER.com

Aircraft Index see Page 4

Freestream February 20/01/2015 11:28 Page 1

Boeing BBJ S/N: 36714. Reg: VP-BFT

Boeing BBJ S/N: 29273. Reg: VP-BBJ • $25,950,000 • Total Time Airframe: 3743:34 Hours • Landings: 917 • Delivered with Fresh C1 • HUD (Heads Up Display) • SATCOM • Pats 9 Tank Fuel System • Basic Operating Weight: 95,096 Lbs • SFR88 Mod • CVR/FDR • Airshow Network

Gulfstream GIVSP S/N: 1283

• $58,950,000 • Into Service 2009 • Total Time Airframe: 2849 Hours • Landings: 741 • Basic Operating Weight: 101,611 Lbs • Pat’s 6 Tanks, 5 aft, 1 fwd • Airshow Network- Aero H+ Satcom – Swiftbroadband- Iridium • 5 external cameras - EFB • 18 Passenger Interior/ Andrew Winch Design

CRJ-200ER S/N: 7508. Reg: VP-BER • TTAF: 4036; Landings: 2671 • No Damage History • EASA compliant • RVSM capable • Winglets • CVR/FDR • TCAS II Chg7.0 • 2012 32 pax Interior

• Price $5,950,000 • Total Time: 9842 hrs • Landings: 4220 • APU on MSP • Honeywell Avionics covered through Honeywell HAPP • MSG-3 Maintenance Program with CMP • No Damage History • Collins SAT-906 SATCOM • Secure-A-Plane • 13 Passenger Interior

Gulfstream 450 S/N: 4190 • Price $25,950,000 • Total Time: 954 hrs • Landings: 435 • Engines Enrolled on RRCC • Synthetic Vision • Broadband High Speed Data System • Forward Galley • 14 Passenger Interior

Freestream February 20/01/2015 11:29 Page 2

2008 Gulfstream G550 S/N: 5176 • US$32,950,000 • Total Time: 3444 hrs • Landings: 949 • Engines on RRCC • APU on MSP • Honeywell APP & Parts Programs • BBML • Securaplane External Camera System • Airshow 4000 • 18 passenger interior • Fwd Crew Rest

2014 Gulfstream G550 S/N: 5449 • Price $49.950,000 • Total Time: 122 hrs • Landings: 71 • Engines Enrolled on RRCC • Planeview Avionics Enhancement • Enhanced Navigation • SecuraPlane Three Camera System • Enhanced Sound Proofing • Aft Galley • 16 Passenger Interior

Gulfstream G550 S/N: 5231 • 1059 AFTT • Engines on RRCC • APU on MSP • Enhanced Nav w/Synthetic Vision • Honeywell Planeview Cert ‘F’ • Head-Up Guidance System • Fwd Galley • 19 passenger configuration

Gulfstream 550 S/N: 5319 • Price $41,950,000 • Total Time: 814 hrs • Landings: 381 • Engines Enrolled on RRCC • Part 135 Compliance • Synthetic Vision • Crew Area • Fwd/Aft Lavs • Forward Galley • 14 Passenger Interior

Freestream February 20/01/2015 11:30 Page 3

Learjet 45 S/N: 167

Learjet 60 S/N: 128

• Make Offer • AFFT: 6156.28 hours. Landings: 4988 • Engines on MSP Gold • Smart Parts Plus • APU on MSP • Honeywell Primus 1000 • TCAS II with Change 7 • EGPWS • Airshow 400 • Forward and Aft Monitors

• New Price US$2.495M • Beautifully maintained • 8 seat interior • Airframe time - 6987 Hrs Cycles - 4587 • APU - 806 Hrs • Engines - Both 6860 • Engines P&W ESP 100% covered

Falcon 900EX S/N: 87

2012 Sikorsky S-92A S/N: 920193

• $11,950,000 • TTAF: 4638 hours / Landings 2371 • Engines & APU on JSSI • Avionic: Honeywell Advanced Protection Plan • Honeywell SSFDR & SSCVR • Satcom Collins SRT-2000 • Airshow 400/Genesis • 14 passenger w/forward crew and aft lavatories

• TTAF: 82 hours • 210 Landings • Most Recent Pre-Owned S-92A on the market • Airline Configuration 19 Forward Facing Passenger Seats • General Electric Engine CT7-8A • APU: Honeywell RE220. P-339 88 Hours 380 Cycles • Rockwell Collins Avionic Management System • Automatic Flight Control Systems (AFCS)

Sikorsky S-76C++ S/N: 760757

• $8,500,000 • TTAF: 211.54 hours • Lowest Time Pre-Owned S76C++ on the market • Excellent Condition • Single Pilot IFR • EGPWS • CVR & MPFR • Emergency Float System

Aircraft Finance 1_Layout 1 21/01/2015 11:46 Page 1

BIZAV INTELLIGENCE ❚ AIRCRAFT FINANCE

Aircraft Finance Review: A Happier New Year with Buyers to Benefit?

Financing business aircraft seemed more flexible in 2014 than in recent years, notes Dave Higdon. Could 2015 be an optimal time for an aircraft purchase?

T Dave Higdon has covered all aspects of civil aviation over the past 35 years. Based in Wichita, he’s a renowned journalist, and an active instrument-rated pilot with more than 5,000 flight hours in everything from foot-launched wings to combat jets. Contact him via Dave@avbuyer.com

he final month of the year is often counted on by retail business owners to make their year. Within Business Aviation, for example, tax and revenue considerations typically bring on a year-end rush in business aircraft closings that make December beneficial to attorneys, title-assurance and transaction-closing specialists, along with those who made the sales. Improved conditions in the economy, continuing profits, steady growth, a surging stock market, low inflation and low interest rates all contributed to make 2014 a better year for buying and selling business aircraft. Correspondingly, today’s market is more appealing to firms that supply buyers with the financing needed to buy or lease aircraft - in ways that are most fiscally beneficial to buyers. Since the financial crisis that erupted in the fall of

AVBUYER MAGAZINE – February 2015

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2008, borrowers needed an existing relationship or unusually high down-payments to secure financing. Terms today, however, better reflect moderation from both the exuberance of pre-recession days and the newly conservative climate of just a few years back. Some financing firms promote a return to equity financing, based on the value of the asset as well as the assets of the borrower. And not only are buyers finding more hospitable terms, some lenders are broadening their acceptable age range – with condition and equipment central as always. The broader scope of candidate aircraft means terms available again to aircraft exceeding 10 years in-service to as far out to 20 years. As before, more-conservative terms remain available for older business aircraft – particularly those eligible for value-enhancing upgrades (if not already equipped). Aircraft Index see Page 4

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Discussions with finance industry insiders indicate they're also benefiting from the changes thanks to their ability to qualify more buyers with better terms for a broader range of aircraft.

Happy New Economy!

“Many critical elements to finance slowly morphed for the better during the past 24 months.”

One lender quietly offered a “Happy New Economy” as his year-end greeting. “In some circles where we do business, enjoying better times is an OK topic,” he told AvBuyer. “But being 'happy' with today's economy clashes with the political sensitivities of some of our clientele. So around them we simply avoid acting thrilled to be doing better – and more – but we are thrilled!” The same applies to buyers who are now able to exercise their aircraft ambitions on terms that don't make outright cash buying the attraction it was a few months ago. Recession-inspired banking regulations forced lenders into a period of adjustment as they met new requirements on available capital and in dealing internationally. The regulations still make for contentious debate, but lenders adapted to continue competing. “We first and foremost want to keep our doors open,” noted one finance executive. “But we also Advertising Enquiries see Page 8

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wanted to reduce risks, so we narrowed our focus on newer aircraft.” With multiple forecasts predicting double-digit growth in new airplane deliveries this year and next, all parties involved in business aircraft transactions stand to benefit from continued growth. J.P. Morgan, Bombardier, Honeywell and other forecasters expect 2015 will mark a major gain over year-end estimates of barely 3 percent growth in 2014. [Note: last year's 2.5-3% gain still stands as the first significant expansion of new jet deliveries since 2008.] “Thankfully, the market changes make for more business with well-qualified buyers,” explained an executive with an investment banker that's worked with clients to buy and underwrite aviation assets. “When a buyer finances, he's already engaged in transactions with other businesses, not just the seller - and more will be involved before the asset finally lands in his hands.” A good finance package serves as the key that unlocks all the other transactions – from the seller, the title-assurance company and the escrow people. With the ripples set off by increased new airplane deliveries, expect increases in attractive, available pre-owned aircraft.

A Monetary Metamorphosis Sometimes change isn't apparent; sometimes it's among the more subtle elements that help drive the aviation business – largely below the surface. Many critical elements to finance slowly morphed for the better during the past 24 months. The roots of this monetary metamorphosis run across many lines… While written for the commercial market, some observations in Boeing Capital's Current Aircraft Finance Market Outlook 2015 also ring true for Business Aviation. For example: “The strength we’re seeing in aircraft finance is largely the result of a healthy and balanced global demand for new aircraft, driven by anticipated passenger traffic growth, record airline profitability, and the continuation of a replacement cycle to improve the fuel and performance efficiency of a large portion of the global fleet.” Words from the floor of the National Business Aviation Association Convention in Orlando last year reflected a similar theme, particularly for business operators enjoying strong balance sheets and a penchant for “keeping its tools cutting edge,” as one marketing executive put it. Consider the market strength of the larger business jets in production as ‘Exhibit A’, he said. Also note the strengthening of transactions for pre-owned turbine business aircraft. New airplane transactions by existing operators generally create a ripple that begins when the recently displaced aircraft splashes into the preowned market, where its purchase may continue the ripple by sidelining yet another aircraft, possibly older – but maybe only smaller, slower or shorter-legged. ! February 2015 – AVBUYER MAGAZINE

Aircraft Finance 1_Layout 1 21/01/2015 11:49 Page 3

BIZAV INTELLIGENCE ❚ AIRCRAFT FINANCE

Most of the same factors that help drive new airplane sales influence buyers of pre-owned hardware – and the financial impact for a company can help make for a better tax return. Speaking of returns, many noted the record-low cost of money for the larger lenders. From auto and other consumer loans to mortgages – whether short- or long-term, variable or fixed - interest rates remain attractively low. And so it is with aircraft finance – particularly in the market segment showing real growth: Business turbine aircraft. Not that the enthusiasm for today's economy is universal and unfettered… Boeing makes note of those factors in its Current Aircraft Finance Market Outlook 2015: “Concerns about fuel prices, interest rate hikes, currency volatility, political unrest and health epidemics are responsible for some market angst. However, as long as these variables do not undermine global economic growth, the current trends for new airplane demand should continue in 2015, supporting continued strength and balance for the global aircraft finance industry.” Interestingly, just as this article became a digital document business-turbine pilots and aircraft owners began reporting the long-awaited fall of Jet A at their local FBOs. With highway fuel prices down nearly 50 percent from December 2013, aviators and aircraft owners alike smile more broadly knowing their direct operating costs are, for once, declining. Leasing, which generally involves a finance underwriter, remains popular among companies that prefer to limit their involvement while still realizing some solid tax benefits and the advantages of using a business aircraft for travel.

The State of Play Have you been dreaming of that a first-generation Citation that caught your eye? That mid-to-late 1970s model with some upgrades? You may have your work cut out for you trying to obtain financing – but it's not an impossible dream these days. You should be prepared to find terms with a higher up-front payment, shorter maturity date and higher interest rates. Perhaps you’ve got something under 20 years old in your sights. If so, you can expect better terms, from lower down-payments to lower interest rates; maybe even a standard seven-year note, depending on the aircraft. Or maybe you’ve been eying a turbine aged 11 or younger? If so, you can get close to the same terms as for new! Many

AVBUYER MAGAZINE – February 2015

lenders no longer insist on you establishing an account, opening up options for both them and you.

Upgrade Value Some upgrades may help improve the finance terms offered – while others will do less so. Consider the following as ‘nice-tohave’ upgrades that lack a long-term improvement to residual value: • Paint and external trim. Unless undertaken to repair sheet metal and/or corrosion issues, external improvements carry more cosmetic impact than tangible effect on loan value. • Interior and trim accouterments. They look good and provide an emotional reaction when the potential buyer encounters that new airplane smell, but it's perishable and probably won't carry as much weight as it costs. The following upgrades do provide a tangible boost to the aircraft value that most lenders happily factor into their offers: • Avionics. Replacing the cockpit systems with new, moremodern, possibly lighter instruments wins points for value retention, while likely providing a necessary upgrade to meet existing and future regulatory requirements. Reduced maintenance needs can add to that benefit. • Engines. Here operators often see bottom-line gains thanks to lower fuel consumption, possibly improved speed and/or runway access (e.g. wider utility), longer life and lower maintenance costs – particularly for upgraded powerplants with longer inspection cycles. Generally a major boost to aircraft value and, as such, what lenders are willing to do to gain your business. • In-Flight Systems: Different from the comfort/cosmetic aspects of interior work, office/entertainment upgrades to older jets – or installations in jets previously lacking them – offer traveling staff higher productivity, more time incontact and the intangible advantages of being able to talk to home or relax with some diversions during the longest days. With better finance deals available, demand on the increase, and a shrinking pool of available options, 2015 may be an optimal time for an aircraft change.

Are you looking for more articles on aircraft finance? Visit www.avbuyer.com/articles-guides/business-aviation-finance

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❚

Aircraft Index see Page 4

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BIZAV INTELLIGENCE ❚ AIRCRAFT FINANCE

Finance vs Cash: Latest Trends for New and Pre-Owned Aircraft Transactions With the new (+9.3%) and pre-owned (+12.1%) business jet markets showing great improvements in their January-September 2014 transaction percentages, what will Mike Chase and Marj Rose discover about the use of financing of these transactions?

Mike Chase (president, Chase & Associates) and Marj Rose (president, MarketLift), offer highly sought-after aviation market research expertise. Contact them via mike.chase1@verizon.net or MRose@marketlift.com. JETNET, meanwhile, the ultimate source for information & intelligence on business and commercial aircraft worldwide, can be contacted via www.jetnet.com.

here can be no doubt that changes in the landscape of available aircraft financing since 2008 have had an adverse impact on the Business Aviation new and pre-owned markets. As 2014 ended the large inventory of business aircraft available on the pre-owned market remained at very affordable prices. One of the metrics we often view as a key indicator for market health is the percentage of the aircraft fleet ‘For Sale’. This percentage has steadily declined, largely because the total fleet has grown (i.e. more new business jets have entered the market, while fewer aircraft have retired from the fleet).

Financed vs Cash Trends: Pre-Owned According to JETNET, the percentage of financed versus cash-bought pre-owned retail transactions for business jets was roughly split 50/50 from 2000 through September 2008. Then in late 2008 the economic meltdown arrived, at which point securing debt financing for pre-owned business aircraft purchases became a more challenging task for buyers. Thus the pendulum swung in favor of cash as the method of the majority of pre-owned jet transactions. Today, as illustrated in Chart A (opposite , top), the ratio of financed versus cash transactions for preowned business jets stands at 26% financed versus 74% cash, based on JETNET’s findings from USbased FAA-filed financial documents. There has been little change in the percentage of financed business jets over the past six years since the start of the economic meltdown.

AVBUYER MAGAZINE – February 2015

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Financed vs Cash Trends: New Today, curiously, the new aircraft segment is at exactly same 26% financed and 74% cash-bought split as the pre-owned market (see Chart B, opposite, center). JETNET data reveals new business jet transactions followed a downward movement from an 80% cashpurchase level in 2000 to slightly below 60% in 4Q 2004. After that low point, new business jet cash financing rapidly climbed back to the 70% mark and held steady throughout the economic downturn that started in 2008. Then in 2010 it increased to a post-2000 highpoint of 80% cash-funded purchases, before turning downward again to 70% cash and 30% financed. Now, the new market is at 74% cash transactions.

3Q 2007 vs 3Q 2014 Table A (opposite, bottom) provides a snap shot view of the third quarter of 2007 (pre-recession) compared to the third quarter of 2014. It is clear that more cash transactions have taken place in the financing of business jet aircraft since the economic meltdown. •

•

During 3Q 2007, there were 1,560 total preowned business jet transactions completed, with 50% (774) financed and 50% purchased with cash. During 3Q 2014 the number of pre-owned business jets financed declined to 469 (or just 26% of a total 1,779 transactions for the quarter). Aircraft Index see Page 4

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AIRCRAFT FINANCE ❚ BIZAV INTELLIGENCE

• • • •

Note the increase of 14% more pre-owned transactions (1,779/1,560) in 3Q 2014 versus 3Q 2007. New business jet transactions showed the same percentage split for financed (26%) and Cash (74%) in both 3Q 2007 and 3Q 2014. Overall, there was a decline of -43% transactions (401 versus 702) from 2007 to 2014. Our comparative data clearly shows that there were fewer new financed and cash transactions overall, but a higher number and percentage of cash transactions.

Since the economic meltdown in 2008, regulators have increased their scrutiny of banks, which have in turn increased their due diligence processes for customers seeking business aircraft loans. This is a different environment today compared to the free-wheeling days before the recession – although there are signs that some buyers are beginning to find more favorable terms for financing. Nevertheless, a buyer should expect the bank’s due diligence to be more penetrating today. Perhaps this could be one of the underlying reasons for the shift toward cash transactions over the past four years. Other reasons could be down to the higher deposit amounts required, as well as personal loan guaranty from company executives.

CHART A - Pre-owned Business Jet Full Retail Sale Transactions U.S. FAA Financial Documents Financed vs Cash* as of 3Q 2014

CHART B - New Business Jet Full Retail Sale Transactions U.S. FAA Financial Documents Financed vs Cash* as of 3Q 2014

Debt Financing Debt financing for pre-owned business jets is available today, however. There were over 50 banks and financial institutions that processed and filed preowned business jet debt instruments (not including leases) in 3Q 2014. Security agreements were used in the majority of the financial transactions recorded in 3Q 2014, followed by Amended Security Agreements and Mortgages.

Summary We have heard from many aircraft finance professionals that financing is certainly available today for business aircraft. The above paragraphs and tables have allowed us to drill into some of the historical detail on aircraft financing, courtesy of JETNET, offering some insight into the current trends. As we continue moving through these unprecedented economic waters, there is no doubt that buying patterns, and the means of purchasing assets like business aircraft, will continue to be affected. We will keep you updated as the recovery continues. Meanwhile, at the end of this month JETNET will release the 2014 Pre-Owned Business, Helicopter, and Commercial Airliner report, and on February 11 GAMA will present the Year-End 2014 New Shipment and Billings report. You’ll find both covered within the March edition of AvBuyer. ❚ Are you looking for more articles on aircraft finance? Visit www.avbuyer.com/ articles-guides/business-aviation-finance Advertising Enquiries see Page 8

TABLE A: Finance vs Cash Transactions TABLE A: Finance vs Cash Transactions N EW BUSINESS JETS P eriod

F inanced

C ash

T otal

3 Q 2007

182

520

702

P ercentage

26%

74%

100%

3 Q 2014

104

297

401

P ercentage

26%

74%

100%

F inanced

C ash

T otal

3 Q 2007

774

786

1,560

P ercentage

50%

100%

3 Q 2014

469

1,310

1,779

P ercentage

26%

74%

100%

P RE-OWNED BUSINESS JETS P eriod

Source: JETNET; Analysis by Chase & Associates

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February 2015 – AVBUYER MAGAZINE

JMesinger Feb15_JMesingerNov06 20/01/2015 14:47 Page 1

BIZAV INTELLIGENCE ❚ AVIATION LEADERSHIP ROUNDTABLE

Residual Values: The Effect on Financing. The idea of aircraft financing swinging back to a more open and broader-based service industry is so exciting and expansive in the discussion of a recovery, notes Jay Mesinger. But how will the residual value component impact on lenders’ willingness to participate?

ou’ll have noticed in this month’s BizAv Intelligence section there are a cluster of articles about financing. The good news is that there are more resources and flexibility around age of aircraft that can be considered. Even a moderate swing toward more liberal terms would be a huge improvement for buyers. For the last several years, pinning down residual loss rates and a residual value have been plagued with outcomes that have been less meaningful since predictions never seemed to hold true. A combination of factors played into the problematic nature of these assessments. Thus, rather than developing another financing article, I felt it would be beneficial to expand on the importance of residual value in the financing industry’s willingness to provide funds for aircraft that have been overlooked during our recovery. In the 40 years that I’ve been buying and selling aircraft across multiple downturns and recoveries, I’ve never seen a recovery that did not have a robust lending community to help stabilize, and push the recovery along. That fact is interesting because a lack of financing may have slowed the current recovery, but more cash buyers entering in the market means a more solid group of new owners. When you use all-cash to buy, often the result is a better thought-out purchasing decision and a greater eye towards purchase price. Furthermore, as more lenders trickle back into the market and financing is not limited to a few ‘big name’ banks that are mostly driven to lend based on strong, long-standing relationships, a healthy competition in favor of the borrower will return. Rather than summarily declining requests for financing, lenders today are becoming more tolerant regarding the age of the aircraft and models out of production. Discretion still will be - and should be used to keep our industry recovery on a solid footing. The metrics used to evaluate residual value will surely center on a combination of age, pedigree, records and cosmetic condition, as well as modernization and upgrades.

“If we can get an industry buy-in to this concept, we will be able to consider a longer life to our existing fleet”

Jay Mesinger is the CEO and Founder of Mesinger Jet Sales. With 40 years’ experience in the aircraft resale market, Jay also serves on the Jet Aviation Customer and Airbus Corporate Jets Business Aviation Advisory Boards (BAAB). Contact him at jay@jetsales.com

Longer Shelf Lives Will older aircraft bear the cost of avionics modernization? My sense is ‘yes’ for many aging 30

AVBUYER MAGAZINE – February 2015

models, and this is a huge factor on our older fleet remaining relevant to the lending community. If we can get an industry buy-in to this concept, we will be able to consider a longer life to our existing fleet. If that happens, we may begin to see a bottom-up strengthening to our market rather than just topdown improvement. This situation will be a change from the recent past when we struggled to assess at what point an aircraft reached its scrap value. I wouldn’t want to spread hope across the oldest, less compliant segment of our fleet (including very old turboprops and non-turbofan jet aircraft). Even though the lenders may embrace slightly older aircraft, they will not have an interest in the very oldest, least compliant models. Imagine if we could just add 10 years to the fleet life. That change would be a huge benefit to the value component, as well as to the growth rate of our recovery. New weighting components for residual value will increase the attractiveness of aircraft that recently were overlooked or not counted. I am sure that it will be clear very soon why lenders are becoming more and more willing to take this positive step to aiding and supporting the recovery. The lending community is remembering the great value a well thought-out aircraft portfolio can bring to their bottom lines. We are very excited about the recovery and all the ancillary growth this will bring to our industry. There is no doubt the manufacturers will continue their work to bring new models to market as well as new iterations to current products - and this will affect the top-end valuation of the market. I am most excited about the low-end market opportunities for first-time buyers and step-up buyers from turboprops to jets. I believe we are going to have a great 2015 and beyond. Aircraft financing will be a big part of our collective success! ❚

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Aircraft Index see Page 4

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BIZAV INTELLIGENCE ❚ TURBINE TRENDS

Snap-Shot Guide to Turbine Trends Business Jets of the Future Today, every major Business Aviation OEM has an extensive program of aircraft in development, notes Rod Simpson. Find out more about them here…

ustomers continually demand more speed, range, cabin space - and better operating costs, from the jets they buy. The avionics manufacturers are frequently adding new features and capability, while engine manufacturers are using increasingly sophisticated materials and have found ways of reducing fuel burn and offering more thrust for less weight. Consequently, the research and development of the aircraft OEMs is essential to keep up with rapidly advancing technology and demand. All of this means there are some exciting new business jets getting ready for market. The impressive range offered by ultra-long-range jets is set to stretch even further. The aircraft structures and systems are becoming more complex with widespread use of composite materials and new fly-by-wire systems. Cabins are getting wider, and higher – offering

improved comfort with flat cabin floors and more than six feet of head clearance. Also, today’s business jets need to provide the latest cabin technology to cope with the demand for connectivity via iPads, iPhones, Blu-Ray and all the other in-flight communications expectations. For the future, Textron’s Cessna unit is working hard on larger cabins to its smaller jets. Pilatus seeks to bring utility turboprop features to its new jet. Dassault promises exceptional economy through advanced Silvercrest engines combined with lightweight structures. And Honda is on the brink of first deliveries. Finally, the days of the Personal Jet may be about to arrive with serious development of the Cirrus Vision now moving forward. All of these developments, and more are outlined below.

Bombardier Global 7000

Bombardier Global 8000

Bombardier Challenger 650

The $65m Global 7000, one of two new versions of the Global series, has a stretched fuselage allowing an extra cabin zone and larger windows. It also has longer range. The prototype will fly in 2015.

The Global 8000 is designed for exceptional range requirements. At $65m, it does not have the extra cabin length of the Global 7000 but is longer than the Global 6000. This jet cruises at Mach 0.9.

www.bombardier.com

The Challenger 650 is an improved version of the Challenger 605 with new engines for improved takeoff performance, Bombardier Vision flight deck, an upgraded cabin with wider seats, larger window surrrounds and new in-flight entertainment system. Price, $33.35m. www.bombardier.com

Category Certification First Delivery Crew + Pax Cabin Height Cabin Length Cabin Width Cabin Volume MTOW Range Max Cruise Flight Ceiling Avionics Engines

Ultra Long Range 2016 2016 4+17 6ft 3in 54ft 7in 8ft 2in 2,637 cu.ft 106,250 lb 7,300nm 516 kts 51,000 ft Bombardier Vision 2 x GE Passport 20

AVBUYER MAGAZINE – February 2015

Ultra Long Range 2017 2017 4+13 6ft 3in 45ft 7in 8ft 2in 2,236 cu.ft 104,800 lb 7,900nm 516 kts 51,000 ft Bombardier Vision 2 x GE Passport 20

www.AVBUYER.com

Long Range 2Q 2015 2Q 2015 3+10 6ft 0in 25ft 7in 7ft 11in 1,150 cu.ft 48,200 lb 4,000nm 470 kts 41,000 ft Bombardier Vision (ProLine 21) 2 x GE CF34-3B MTO !

Aircraft Index see Page 4

Charlie Bravo February_Layout 1 19/01/2015 15:33 Page 1

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Elliot February_Layout 1 19/01/2015 15:46 Page 1

Turbine Trends_Layout 1 20/01/2015 16:04 Page 2

BIZAV INTELLIGENCE ❚ TURBINE TRENDS

Bombardier Learjet 85

Cessna Citation Latitude

Cessna Citation Longitude

Bombardier’s Learjet 85 development program has been halted. “Given the weakness of the market, we made the difficult decision to pause the Learjet 85 program at this time,” said Pierre Beaudoin, President & CEO, Bombardier inc.

The Citation Latitude, at $16.25m, is broadly based on the Citation Sovereign but with a much larger stand-up, flat floor cabin. Accommodating up to nine passenger seats - including a 2-seat divan – the cabin incorporates a rear restroom.

This will be Cessna’s flagship business jet, costing $26m. It is rumoured that the Longitude, which has a T-tail, a new swept wing and fly-by-wire systems, will be larger than originally announced. It will be among the fastest in the Super Mid-Size category.

www.bombardier.com

www.cessna.com

Category Certification First Delivery Crew + Pax Cabin Height Cabin Length Cabin Width Cabin Volume MTOW Range Max Cruise Flight Ceiling Avionics Engines

Mid-Size N/A N/A 2+10 5ft 11in 22ft 7in 6ft 1in 665 cu.ft 36,700 lb 3,000nm 470 kts 49,000 ft ProLine Fusion 2 x PW307B

LEARJET 85 - PROGRAM HALTED

Mid-Size 2H 2015 2H 2015 2+9 6ft 0in 21ft 9in 6ft 5in 816 cu.ft N/A 2,700nm 446 kts 45,000 ft Garmin G5000 2 x PW306D1

CIRRUS VISION SF50

Super Mid-Size 3Q 2017 3Q 2017 2+12 6ft 0in 28ft 11in 6ft 5in N/A N/A 4,000nm 490 kts 45,000 ft Garmin G5000 2 x Snecma Silvercrest SC-2C

DASSAULT FALCON 8X

Cirrus Vision SF50

Dassault Falcon 5X

Dassault Falcon 8X

With the third of three flight test aircraft having flown in January, 2015, Cirrus is heading towards certification of its single-engined, $1.96m personal jet at the end of 2015. Targeted at owner-pilots the Vision will also appeal to small business users.

The $45m Falcon 5X is Dassault’s new generation, fuel-efficient, twin-engined business jet offering lower operating costs. It has a significantly larger cabin than the Falcon 2000, a much longer range and 100kts more cruise speed.

The Falcon 8X is a development of the Falcon 7X with a longer cabin and 500nm more range. The aircraft also has a completely new cockpit incorporating the new generation EASy system including a head-up display. See fuller profile on page 120 of this issue.

www.cirrusaircraft.com

www.falconjet.com

Category Certification First Delivery Crew + Pax Cabin Height Cabin Length Cabin Width Cabin Volume MTOW Range Max Cruise Flight Ceiling Avionics Engines

Entry Level 4Q 2015 4Q 2015 1+6 4ft 1in 11ft 6in 5ft 1in 182 cu.ft N/A 1,200nm 300 kts 28,000 ft Garmin G3000 1 x Williams FJ33-4A-19

AVBUYER MAGAZINE – February 2015

Super Large 4Q 2016 1Q 2017 3+16 6ft 6in 39ft 0in 8ft 6in 1,770 cu.ft 69,600 lb 5,200nm 595 kts 51,000 ft EASy III Flight Deck 2 x Snecma Silvercrest

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Long Range 3Q 2016 4Q 2016 3+16 6ft 2in 42ft 8in 7ft 8in 1,695 cu.ft 73,000 lb 6,450nm 595 kts 51,000 ft EASy III Flight Deck 3 x PW307D

! !

Aircraft Index see Page 4

1 Corporate Concepts February 09/02/2015 14:28 Page 1

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Turbine Trends_Layout 1 20/01/2015 16:06 Page 3

BIZAV INTELLIGENCE ❚ TURBINE TRENDS

Embraer Legacy 450

Gulfstream G500

Gulfstream G600

The Legacy 450 is a shorter version of the Legacy 500, offering less range but a similar cruising speed and a shorter takeoff distance. Priced at $15.25m, it provides a very comfortable stand-up cabin for up to nine passengers.

Gulfstream has increased its product range with the G500 and G600. The $43.5m G500 is the smaller capacity model with a 5,000nm range. The first G500 has already been built and will fly early in 2015.

Gulfstream’s $54.5m G600 is a stretched version of the G500 with a longer range. The G600’s cabin is wider, longer and taller than that of the G550, offering a crew rest area in front. Development will follow on after the G500.

www.embraerexecutivejets.com

www.gulfstream.com

Category Certification First Delivery Crew + Pax Cabin Height Cabin Length Cabin Width Cabin Volume MTOW Range Max Cruise Flight Ceiling Avionics Engines

Category Certification First Delivery Crew + Pax Cabin Height Cabin Length Cabin Width Cabin Volume MTOW Range Max Cruise Flight Ceiling Avionics

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HONDA JET

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GULFSTREAM G600

Honda HA420 HondaJet

Pilatus PC-24

SyberJet SJ30i

After 15 years of development the $4.5m HondaJet is in production with first deliveries due in 2015. The fastest of the Entry Level jets offers a 1,200 mile range and a spacious four/five seat cabin.

The PC-24 will appeal to owners of the successful PC-12 single-engined turboprop who want more speed but with the flexibility of the PC-12. The $9.3m PC-24 has a large rear cargo hatch and can operate from short unprepared airfields.

The latest version of the Swearingen SJ30 will be sold in two forms - the $7.25m SJ30i and SJ30X (with higher-powered FJ44-3AP-25 engines). The SJ30i is the fastest of the light jets with a cruising speed of 486 kts and the longest range in the category.

http://hondajet.honda.com

www.pilatus-aircraft.com

www.sj30jet.com

Category Certification First Delivery Crew + Pax Cabin Height Cabin Length Cabin Width Cabin Volume MTOW Range Max Cruise Flight Ceiling Avionics Engines

Entry Level 2015 2015 2+5 4ft 10in 17ft 10in 5ft 0in N/A N/A 1,180nm 420 kts 43,000 ft Garmin G3000 2 x GE-Honda HF120

AVBUYER MAGAZINE – February 2015

Light Jet 2017 2017 2+8 5ft 1in 23ft 0in 5ft 7in 502 cu.ft 17,750 lb 1,950nm 425 kts 45,000 ft Pilatus Honeywell Advanced 2 x Williams FJ44-4A

www.AVBUYER.com

Light Jet 2015 2015 1+7 4ft 4in 12ft 6in 4ft 10in 191 cu.ft 13,950 lb 2,500nm 486 kts 49,000 ft Primus Apex 2.0/SyberVision ❚ 2 x FJ44-2A

Aircraft Index see Page 4

Eagle February 21/01/2015 16:11 Page 1

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Avionics Mandates_Finance 20/01/2015 16:35 Page 1

FLIGHT DEPARTMENT â?&#x161; AVIONICS

Aviation Mandates: All You Need to Know About CPDLC - ATN-B1

Helping you to familiarize with avionics advances and related mandates for equipage, Ken Elliott unpacks Controller-Pilot Data Link Communications (CPDLC) within NextGen, this month focusing on ATN-B1.

Ken Elliott is a highlyregarded industry authority on avionics as a member of the NextGen Advisory Council sub-committee and Technical Director, Avionics at Jetcraft. Contact him via kenelliott@jetcraft.com or www.jetcraft.com

ata Comm encompasses two main areas: ATN-B1 (or CPDLC) and FANS 1/A+ (including ATN-B2). It can be confusing when confronted by a string of unfamiliar letters. The reader requires either an avionics glossary to crack the code or a degree in aviation technology (possibly both) to understand the alphabet soup. Controller-Pilot Data Link Communications (CPDLC) is one of those codes, and it is best understood by an introduction of its history. Like most technologies, CPDLC began with a need to solve a problem and progressed through a series of gradual piece-meal steps toward a seemingly eternal resolution in an environment where goalposts are constantly shifting. Historically,

AVBUYER MAGAZINE â&#x20AC;&#x201C; February 2015

www.AVBUYER.com

signs of frequency congestion emerged in the 1980s. Primarily the problem applied to frequencies allocated to Air Traffic Control (ATC) sectors and to the Aircraft Communications Address and Reporting System (ACARS). Sector frequencies manage enroute flights, and ACARS covers messaging data between aircraft and ground, both for ATC and Airline Operations Control (AOC). There were concerns of voice communication language barriers and overlap where an ongoing ATC and aircraft communique could be overridden by another transmission. Communication (including data) was via Very High Frequency (VHF) and High Frequency (HF). The VHF congestion was partially resolved by Aircraft Index see Page 4

General Aviation February_Layout 1 19/01/2015 15:53 Page 1

Avionics Mandates_Finance 20/01/2015 16:36 Page 2

FLIGHT DEPARTMENT ❚ AVIONICS

H ISTORY

I DENTIFIER

K EY FEATURES

I NSTIGATING A GENCY

T IMEFRAME

New Architecture

In 1983 ICAO began an effort to establish a DataLink architecture under Early FANS-1 its Future Air Navigation System (FANS) Implemented Boeing 1990s (Oceanic) structure. This became the architecture Structure and protocol standard of an oceanic Automatic Dependent Surveillance communications network, where HF and Early (ADS) early Satcom ruled. Boeing, a long time FANS-A Implemented Controller-Pilot DataLink Airbus 1990s (Oceanic) user of ACARS, developed FANS-1 to Structure Communications (CPDLC) developed the newer ARINC 622 binary data from & using ACARS format, followed by Airbus with its FANS-1/A FAA FANS No latency timer per RTCA NAC RTCA-FAA 2000s (Oceanic) FANS-A. Later these were combined Automatic Dependent Surveillance and have since evolved into FANS(ADS) Current Global ARINC 622 1990s1/A+. FANS-1/A+ Controller-Pilot DataLink Oceanic RTCA DO-258A 2000s Boeing (FANS-1) incorporated the Communications (CPDLC) developed Structure ED100A (evolved) from ACARS but using VHF Data Link principles of Automatic Dependent (VDL) Mode 2 or Satcom Surveillance (ADS) and early CPDLC The Network Aeronautical Telecommunications using the existing ACARS. Note that ATN ICAO using ISO 1990s Architecture Network ADS is automatic surveillance such as Controller-Pilot DataLink position reporting, and CPDLC is CNS/ATM CPDLC Communications (CPDLC) ICAO 1990s Comm (Continental) communication using text in the form of Based on & developed from ATN data, not voice, for clearance requests LINK 2000+ EUROCONTROL and authorizations. (Continental) ICAO 9705Controller-Pilot DataLink CNS/ATM FANS-2 or 9896 ADS for FANS is known as ADS-C Communications (PM-CPDLC) VHF 2000s Comm ATN-B1 RTCA DO-280B (ADS Contract) and allows an automatic DataLink (VDL) Mode 2 Airbus FANS& ED110B handshake by contract between the B+ RTCA-DO219 aircraft and enroute ATC for DataLink. FANS-1/A+ In work FAA CNS/ATM Leading to US domestic FANS-1/A+ over VDL This is different from ADS-B (ADS RTCA SC214 and 2017-2025 Comm FANS-3 or -C Mode 2 Broadcast), which uses GPS/FMS and WG78 ATN-B2 Transponder technology to provide CNS/ATM Automatic Dependent Surveillance–Broadcast (ADS-B) using Transponders flight and position information that is ADS-B & -C Surveillance Automatic Dependent Surveillance-Contract (ADS-C) using Satcom broadcast as “OUT” data to ATC and aircraft with receivers that have “IN” capability. TABLE A ABOVE IS A SUMMARY OF THE DATA COMM HISTORY WITH THE HIGHLIGHTED Meanwhile, specifically for CPDLC, SECTIONS BEING THE FOCUS OF THIS ARTICLE. ICAO continued its separate FANS effort based primarily on newer Aeronautical Telecommunication Network (ATN) protocols and standards. implementing the use of 8.33 KHz spacing, This development also became known as ATN-B1 narrowing the gap between assigned frequencies (Baseline 1). Having a CPDLC architecture that was and providing many more channels. HF, meanwhile, based on universal International Standards (ISO) is gradually being replaced by Satellite subsequently provided a continental-based DataLink Communications (Satcom), operating at much higher platform, which was different from the oceanic frequencies. HF, including HF DataLink (HFDL), has system due to the high density of airspace and users its own limitations, mostly regarding poor quality of in continental airspace. the signal, voice distortion and overall reliability of This newer DataLink structure known as CPDLC service. VHF DataLink (VDL) Mode 2 was eventually adopted The need for a solution grew greater with by EUROCONTROL for use across continental significant expansion of air traffic. Furthermore, there Europe under the final program designation of LINK was a need to standardize two way communications 2000+ (otherwise known as FANS-2). VDL Mode 2 between ATC and aircraft as well as the data that are has a much higher and faster data capacity than the automatically provided from an aircraft to the existing ACARS. ground. Because airlines were already established The term FANS is typically linked to oceanic with ACARS, there was a need to consider both airspace and today includes both a Data Comm and existing and new equipment, as well as operational surveillance component. On the other hand, the requirements. term CPDLC or ATN-B1 covers continental The combination of these factors and the operations where, because of transponder and radar divergent interests of different aviation governing coverage, surveillance is not a requirement. However bodies has created a background of confusing the US is beginning to implement FANS 1/A+ over terminology, coupled with a potpourri of data comm VDL Mode 2 for its continental airspace while timelines. Automatic Dependent Surveillance (ADS) Controller-Pilot DataLink Communications (CPDLC) developed from & using ACARS

AVBUYER MAGAZINE – February 2015

www.AVBUYER.com

Aircraft Index see Page 4

Avionics Mandates_Finance 20/01/2015 16:37 Page 3

GRAPHIC A

traditionally ATN-B1 is linked to continental European operations. Requirements are often referenced as ‘CPDLC’ for LINK 2000+ and ‘FANS 1/A+’ elsewhere. Remember that requirements are based on what you need to operate in certain airspaces. Typically, mandates are higher level requirements that apply to almost all users in much larger 3D airspaces. It is important to highlight the link between Data Comm and the wider modernization of airspace. Data Comm development, and especially its implementation, is becoming fully integrated with other NextGen programs aimed at Trajectory Based Operations (TBOs). Aircraft and equipment programs supporting NextGen often combine FANS 1/A+ for oceanic use, with CPDLC for Link 2000+ as well as ADS-C and ADS-B capability. They are even now designing for ATN-B2, FANS 3/C.

THIS IS THE SCOPE OF AIR NAVIGATION SERVICE PROVIDERS (ANSP) IN EUROPE, SHOWING THE EXPANSION OF COVERAGE TO THE EAST.

Link 2000+

Link 2000+ is a key element of the Single European Sky (SES 2+) initiative adopted in March 2014 after several iterations, and now accommodates users already equipped with FANS 1/A+. Protected Mode (PM-CPDLC), used by Link 2000+, allows the flight crew to select from a menu of standard ATC communications to send and receive messages via text. A corresponding application exists for ATC Controllers. PM-CPDLC is an up-to-date version of CPDLC that minimizes messaging errors, protecting communication data both ways. PM-CPDLC has higher integrity than FANS 1/A+ CPDLC, verifying entire messages that are received by the intended recipient. Link 2000+ ground services are provided out of several control centers offering DataLink services on a 24/7 basis to all aircraft equipped with the appropriate avionics in the upper airspace (above FL 285) and include: • Geneva (LSAG) • London (EGTT) • Maastricht (EDYY) • Rhein (EDUU) • Scottish (EGPX) • Zurich (LSAZ) Typical messages to and from ground stations are: • Frequency Changes • Climb/Descent Clearances • Direct Clearances • Turns & Headings • SSR Instructions • Replies to Aircrew Requests • Microphone Checks The following underlying protocols are applicable to CPDLC: • Voice and DataLink shall co-exist as a means of ATS communication. CPDLC supplements voice. • CPDLC shall only be used in the context of nontime-critical communications. Time-criticality is Advertising Enquiries see Page 8

• •

“There are no

determined by the ATC traffic situation, systems and flight crew/controller response time and recovery time. A voice response is generally expected in a few seconds, while the latency of CPDLC is usually much longer (up to several minutes). The decision to use either voice or CPDLC shall be at the discretion of the controller and/or pilot involved. A controlled flight shall be under the control of only one ATC unit at any given time.

Letter of Authorization (LOA) requirements for Link

User guidance for Link 2000+ is Flight Crew DataLink Operational Guidance – Version 6, available from the EUROCONTROL website under Link 2000. There are no Letter of Authorization (LOA) requirements for Link 2000+ and training is the responsibility of the operator. Note that there have been a number of Link 2000+ disconnections (Provider Aborts) reported, and while this anomaly is being resolved there is a White List where certain aircraft (and equipage) can be added. This is a complex issue beyond the scope of this article. More information can be found at: https://www.eurocontrol.int/link2000/ wiki/index.php/White_Lists.

2000+ and training is the responsibility of the operator.”

Mandate and Timeline

Depicted in Table B (overleaf) is the current EUROCONTROL requirement for ATN-B1 or CPDLC over VDL Mode 2 (see note 2 below and see also italics under Aircraft Equipage, overleaf). In summary, the mandated requirement is: • Aircraft operation above FL285 • Aircraft operation in designated European Airspace • 1 January 2011: All new aircraft operating above www.AVBUYER.com

February 2015 – AVBUYER MAGAZINE

Avionics Mandates_Finance 20/01/2015 16:38 Page 4

FLIGHT DEPARTMENT ❚ AVIONICS

•

FL285 must be equipped with a compliant system 5 February 2015: All aircraft operating above FL285 must have been retrofitted with a compliant system (see Note 2, below) Note 1: Aircraft equipped and operationally approved for FANS 1/A+ before January 1, 2014 are exempt specific LINK 2000+ requirements Note 2: Due to delays in ground station readiness, retrofit requirements are postponed until late 2015.

F UNCTION VHF Com Immunity from FM radio broadcasts Controller Pilot DataLink Comms (CPDLC) ATN/VDL Mode 2

US FANS-CPDLC: 2015-2017 & Beyond

The FAA plans to start implementing FANS 1/A+ technologies in domestic airspace as early as 2015. Data Comm will be used for clearances over VHF VDL Mode 2, which is faster than the existing VHF network. This allows for pre-departure clearances and reroute requests. The FAA had previously updated its Data Communications plans in response to an RTCA NextGen Advisory Council (NAC) recommendation to not require domestic use of a latency timer. This is reflected in FANS 1/A instead of FANS 1/A+. Among other efforts between 2002 and 2004, the FAA undertook a CPDLC pilot program out of Miami Air Route Traffic Control Center with American Airlines. Since 2012 the FAA has embraced a dual stack aircraft structure having both FANS 1/A and ATN-B1 Data Comm systems installed with the goal of seamless operations (FANS 1/A+). Also the FAA is working with industry to revise installation and operational guidance for ATN-B2, currently nearing completion. This is expected to create full participation from airlines and General Aviation, but expect it to be an evolutionary process. Today, limited CPDLC-based data services are available in the US (such as initiated ground clearance via CPDLC at some Towers and 30/30 RNP4 with CPDLC/ADS-C at Anchorage). Incidentally, CPDLC continental-based services are also available in Canada, Australia and Africa. Recently RTCA has been contracted for advice on NextGen services, including Data Comm, in South America. In fact, CPDLC as VDL Mode 2 is fast becoming a worldwide data standard.

Aircraft Equipage

Because many of the CPDLC or ATN-B1 solutions today include FANS 1/A+ for both oceanic and continental operations, actual equipage will be covered in depth in the next month’s article focusing on FANS. It is, however, helpful to point out that as 50

AVBUYER MAGAZINE – February 2015

E QUIPMENT

N OTE 1

All VHF Com equipment Third VHF Digital Radio, also either: Communications Management Unit (CMU) and Multifunction Control Display Unit (MCDU) Or

N OTE 2 For guidance, see JAA TGL

SES DataLink Services Implementing Rule – EC Reg. No 29/2009 for above FL285

EASA Special Condition on ATN B1 DataLink Installation

Core Europe (LINK Region): Feb 2013 Rest of EU: Feb 2015

N OTE 3 Some states may have exempted from the requirement Airframe Dates Forward Fit: Jan 2011 Retro Fit: Jan 2015 ** Additional Information Link 2000+ Program Website

Air Traffic Service Unit (ATSU) and Dedicated Control and Display Unit (DCDU) Or Integrated solution (e.g. Boeing FANS-2) Or Electronic Flight Bag Solution (TBD)

part of the equipage considerations for CPDLC or ATN-B1 there are existing DATALINK RECORDING requirements for new aircraft: • FAA-registered a/c with CPDLC Part 135 Dec 2010 • FAA registered a/c with CPDLC Part 91 April 2012 • EASA-registered - April 8, 2014.

TABLE B

THE CURRENT EUROCONTROL REQUIREMENT FOR ATN-B1 OR CPDLC OVER MODE 2.

From a general perspective, new aircraft orders are increasingly compliant, only requiring minor bulletin changes for CPDLC implementation. Older legacy aircraft may require significant changes. Regulators are working hard to minimize equipage requirements. The FAA, for one, is making it very clear the agency intends to continue supporting ACARS, VDL Mode ‘0’ for towers and importantly FANS 1/A + equipped aircraft that include a message latency timer or monitor. In fact, the FAA is working hard not to require minimum equipage and to work diligently on ATNB2 in an advanced form, with its final implementation date of 2025. Installation providers may be found listed in the January article of this publication (pages 56-57). ❚

Some useful Reference Sources EUROCONTROL - Skyways publication EUROCONTROL - Skybrary publication ICAO – GOLD (Global Operational Data Link Document) NBAA – under Aircraft Operations (CNS and International Ops) Duncan Aviation – website (www.duncanaviation.aero) including Straight Talk www.AVBUYER.com

Are you looking for more articles on avionics and mandates? Visit www.avbuyer.com/ articles/category/businessaviation-avionics/ Aircraft Index see Page 4

Tempus Jets November_Layout 1 19/01/2015 15:54 Page 1

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Engines 1_Finance 21/01/2015 12:01 Page 1

FLIGHT DEPARTMENT ❚ ENGINES

Engine-Maintenance: It’s all up to the Maintenance Manager...

Dave Higdon considers best-practices for managing the maintenance needs of the company aircraft to ensure it performs at its optimum level for your corporation. Dave Higdon has covered all aspects of civil aviation over the past 35 years. Based in Wichita, he’s a renowned journalist, and an active instrument-rated pilot with more than 5,000 flight hours in everything from foot-launched wings to combat jets. Contact him via Dave@avbuyer.com

he aircraft maintenance technician looked up from the high-bypass fanjet that he was inspecting prior to purchase, grinned and told the prospective buyer, “Nothing's certain but death, taxes, annuals - and hot-section overhauls.” As the technician withdrew the borescope from deep within the jet’s powerplant, he smiled again. “There’s no doubt about it. That engine needs overhaul...at some point.” The inspector's impish grin belied his intent, and the prospective owner exhaled – then smiled

AVBUYER MAGAZINE – February 2015

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as the technician qualified, “But not now – and not for a while.” The technician recommended that the soon-to-be owner continue the seller's maintenance management program. “If you want to get these powerplants to their TBO hours, keep up good on-condition management and follow what the old owner did,” he advised. “But don't be afraid to get another look-see if engine-monitor data drift out of spec. Otherwise, I’ll see you at the annual and find out how good you are at engine maintenance management.” Aircraft Index see Page 4

Engines 1_Finance 20/01/2015 16:47 Page 2

health monitoring and trend analysis provide information tools designed to help owners and maintenance technicians with data on which to base their decisions. Those systems also help owners understand the need behind some of those decisions.

On-Condition vs On-Time & On-Screen

“...these devices can instantly alert the flight crew, and even the maintenance shop when any Engine Maintenance Management

This owner-operator stepping up to a twin jet knew the concept. But as somebody who progressed to turbofans from piston singles over a decade, “maintenance management” generally consisted of the same stuff he applied starting with his first single: Regular oil changes (with oil analysis); routine filter replacements; and the engine elements of an annual inspection (compression checks, exhaust system tests, spark plug cleanings and all the other trappings of the 12-month ritual). Moving into something with the six-figure cost potential of un-anticipated engine work, however, demands attention to different parameters. Management practices for engine maintenance require a more-organized, more focused approach. Fortunately, the art and science of engineAdvertising Enquiries see Page 8

parameter strays from the norm...”

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What’s the oil level? Are fan spins interferencefree? Are you visually free of damage? For most turbine-aircraft pilots those three steps encompass the Alpha and Omega of pre-flight engine checks. Pretty much all else - particularly the hard-working compressor stages and hightemperature hot-section components - sit far from view. Cycles, rather than a clock and operating hours, may stand as the primary parameter for preventive and required maintenance; hours still count for most engines though. Regardless, much of engine maintenance occurs when conditions require the work, as defined by the manufacturer. Both hours and cycles come with on-condition parameters. So how do pilots and maintenance technicians judge when something might be amiss – or headed toward a problem? In these days of fullauthority digital engine controls (FADEC), engine maintenance decisions largely hinge on enginehealth information. Electronic engine health monitoring systems track and record important parameters many times a second. Using the monitoring systems' database of normal parameters as reference, these devices can instantly alert the flight crew, and even the maintenance shop when any parameter strays from the norm, or worse, when they deviate into a range capable of inflicting damage. The warnings generated typically indicate one of three levels of severity – from no action needed to immediate, dramatic action warranted.

Pulp Friction vs Digital Tracking

Engine maintenance monitoring at its most basic consisted of traditional paper-based logging of powerplant use and performance, plus enginemaintenance record-keeping and monitoring. What already stood as a complicated process in those simpler days now demands a maintenancemanaging process compatible with electronic data, electronic records and electronic-based maintenance manuals. Today's engine maintenance monitoring at its most basic begins on the shop floor on a tablet or notebook computer capable of showing and recording the maintenance logs, maintenance manuals and information from the aircraft OEM, avionics manufacturer and, of course, the builder of the powerplant(s). These monitoring systems go by various names – ‘Engine Indicating and Crew Alerting System’ February 2015 – AVBUYER MAGAZINE

Engines 1_Finance 20/01/2015 16:50 Page 3

FLIGHT DEPARTMENT ❚ ENGINES

(EICAS) – is a common label used by Boeing and multiple business aircraft makers. Airbus' in-house ‘Electronic Centralized Aircraft Monitor’ (ECAM) version is broader in scope, and is built on its fly-by-wire flight control technology. These engine monitoring systems employ sensors deployed through the engine to measure rotational speed of components, compressor temperatures, Inter-Turbine Temperatures (ITT), various fuel and oil pressures, fuel flow and other information on the engine’s performance. The data reveal important information about the health of the engine. For example, changes in fuel consumption detected over time consumed would indicate a loss of engine efficiency. Some sensors can sense impending failures in time to notify both the crew and ground stations. Alert messages indicating anomalies are instantly transmitted. The most sophisticated systems today provide for data delivery from the aircraft's central recording bank directly to the maintenance computers on the ground – highlighting the engine parameter discrepancies that triggered any and all warnings and alerts. From those readings, maintenance technicians can download all the engine data for the flight and compare them to past hours and factoryobserved norms in search for the causative problem and solution. Far from being merely a problem-alerting tool, these engine-performance records also serve to prove an engine's trouble-free operational history when preparing for a sale or an overhaul. But few things make a prospective buyer happier than being shown detailed records of the engine's operational history, maintenance work and all the work performed on- and off-wing. Yet data alone can't make for appropriate maintenance management.

The Engine-Maintenance Constant

The shop or operator needs a system compatible with managing engine maintenance requirements to fully oversee the powerplants' care and feeding. That starts by becoming wholly familiar with the manufacturer's own general guidance for that powerplant, and information specific to the installation. For example, while all PT6A engines are Pratt & Whitney Canada products, not all PT6A powerplants face the same operating environment or needs: some requirements are controlled by airframe type and mission use. Each airframe/powerplant combination tends to have some specific needs in terms of care, 56

AVBUYER MAGAZINE – February 2015

“What system should an operation use? That's as individually defined as asking what kind of paint or interior an owner prefers...”

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feeding and maintaining the engines. The selection of a system to manage, track and implement the needs of those powerplants is essential. An array of computer-based options exist for recording work performed, alerting operators to work needed – comfortably ahead of the need – and provide other tangible benefits for monitoring fuel use, maintenance costs, downtime and other parameters. What system should an operation use? That's as individually defined as asking what kind of paint or interior an owner prefers – though the stakes are higher. What works best for the aircraft and operation underpins the dominant recommendations made by maintenance technicians. Operators with one aircraft to track obviously need less by comparison to that of an operator with a fleet to manage – particularly a mixed-type fleet where airframes and engines come from different manufacturers. Operators consulted for this story offered a range of suggestions, each specific to their individual needs and use. One common suggestion stood out for its uncommon relevance, however: Work with the maintenance provider to select a program compatible with the shop's own computer-based record-keeping and management system. For most operations a system capable of running on today's most-common tablet computers—iOS, Android or Windows – will suffice. But maintenance technicians stressed the importance of keeping up with entries. “The computer doesn't know you had an engine inspection or oil added unless you tell it,” noted ! our sharp-witted maintenance technician. Aircraft Index see Page 4

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Engines 1_Finance 20/01/2015 17:27 Page 4

FLIGHT DEPARTMENT ❚ ENGINES

“Not even those automated-reporting systems have real value if not used to their potential. That brings us to the weakest link on most maintenance-management systems...the owners in single-airplane and owner-flown operations. “Unless the person's main and only job is either flying or maintaining the airplane, maintenance management often fails for the same reason we occasionally overdraw at the bank: Human failure to use the system.” For the best solution, most suggested making sure the aircraft has a ‘maintenance home’ and someone whose job it is to stay on top of your needs for engine-maintenance management. Others suggested enrolling the engines in a program that covers anticipated and unanticipated needs on a per-running-hour cost basis – such as those offered by Jet Support Services, Inc., Rolls-Royce CorporateCare, and others. That enrollment and the communications it entails can help the owner manage engine health while protecting them from the big-dollar hit that mismanagement can impose. For this, shop around. Multiple programs exist for many engines – including programs offered by the engine OEM and third parties. ❚

Hourly Maintenance Programs

Just as foot soldiers are advised to take great care of their feet, aircraft operators should pay particular attention to the wellbeing of their aircraft’s engines. Careful attention to powerplant maintenance protects an aircraft’s value and contributes measurably to safety. An hourly cost maintenance program offers the added advantage by removing much of the unpredictability of the costs associated with aircraft engine upkeep. JSSI, the world’s largest independent provider of hourly cost maintenance programs for aircraft engines and airframes, for example, offers programs tailored to a highly extensive range of airframes and powerplants. An aircraft owner pays an amount of money per hour flown, which provides them with coverage for maintenance needs along with the technical expertise from a company with 25 years’ experience in the market. Discover more at www.jetsupport.com. Some operators prefer a program provided by the powerplant’s OEM, and Rolls-Royce (among others), provides just such a solution through its CorporateCare engine management program. The concept is the same – pay a per-flight-hour amount, and receive complete engine management, from line-maintenance parts to full engine overhauls. Find out more at www.rolls-royce.com/civil/services/corporatecare/

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Engines 2_Finance 21/01/2015 09:52 Page 1

PHOTO - THOR JORGEN UDVANG

FLIGHT DEPARTMENT ❚ ENGINES

Engine Audits:

The Key for Avoiding a Nasty Surprise!

An engine is an expensive and complex piece of equipment that has a significant impact on an aircraft’s safety, notes Gamit’s Nadeem K. Muhiddin. Those are all very good reasons to understand it fully before accepting ownership… Nadeem Muhiddin is the General Manager at Gamit, which specializes in Aviation Asset Management. Specifically, Gamit is an industry leader in aircraft and engine auditing and comprehensive technical management. Contact Nadeem via n.muhiddin@gamit.co.uk or visit www.gamit.co.uk.

et’s take a very close look at fundamentals. An aircraft engine endures extreme pressures and temperatures in its daily operations, along with hundreds of hours of use over the course of an average year. During its lifespan, it will undergo scheduled and unscheduled maintenance and inspections, been operated by various pilots, could potentially have powered more than one aircraft and should have accrued detailed notes and records tracking its history and condition that date back to its original build. Its records ought to be as extensive as the engine itself, meaning there potentially could be some hidden (and unwanted) surprises buried deep within those records waiting to spring on a careless

AVBUYER MAGAZINE – February 2015

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operator. And yet, among the various Civil Aviation Authorities around the world, engine auditing is not a regulated or certified function within aviation. To a large extent the responsibility for having the records of a powerplant audited correctly lays with the aircraft owner/operator – so it’s up to that person to appoint somebody with the necessary credentials and experience to ensure all records of the engine are present and correct. Failure to do so during a prepurchase inspection of an aircraft could result in time-intensive and costly corrections being made further down the line. For example, we were once tasked with managing the overhaul of an older JT8-219 engine for a VIP aircraft. The technical team delving into the engine’s Aircraft Index see Page 4

When an Australian air ambulance is AOG after a Thursday evening bat strike, who provides a rental engine that weekend?

When Jeff’s work cell phone rang on a Thursday night, he knew it had to be an emergency. The engine shop project manager was enjoying a day away from office at a local park when he answered a call from an Australian air ambulance customer who hit a fruit bat and was grounded. “That bat had a wing span of almost six feet. We knew the engine was going to be in-house for a while, so we arranged to have a rental engine arrive there that weekend,” says Jeff. “That timetable on the weekend was no easy feat, but the customer had to be in the air, so we made it happen.” For the rest of the story visit www.DuncanAviation.aero/experience/jeff.php.

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Engines 2_Finance 21/01/2015 09:53 Page 2

FLIGHT DEPARTMENT ❚ ENGINES

records discovered they were incomplete, which incurred a substantial amount of additional work (and cost) to authorize the valid EASA release-to-service of the aircraft. And this wasn’t the first occasion our asset management company—Gamit—has found incomplete records. On another occasion a privately operated six-year-old aircraft was brought into the shop with the owner seeking its removal from the NRegistry and re-registration on the G-Register. The audit revealed that at a certain point in the aircraft’s life one of the flight crew had mislaid both engine log books, necessitating the lengthy and costly task of having them re-built from scratch in co-ordination with the engine OEM and the various MROs that had performed work on it previously.

Audit Types

There are two specific types of audits that a prospective or current aircraft owner should understand… Loaner Engine Audits: Usually these are installed when your owned engine is sent away for repair or overhaul. This is usually a short-term item with a quick installation. The records are usually checked back to the engines’ last shop visit, and include all Airworthiness Directives (ADs), Service Bulletins (SBs) and statutes. If anything looks unusual with this paperwork, however, the auditor will want to dig deeper into the records and go further back. Pre Purchase Inspection: These types of audits will track the records going back to the ‘birth’ of the engine - essentially, all of the paperwork is inspected back to engine build. This documentation should all be present and correct. It’s worth remembering here that engines are not cheap, and they can change aircraft and location many times throughout their life. Engines can also be the cause of aircraft accidents, and if the records are not 100% accurate the insurance company could discover those paperwork errors and seek to pin the incident on that fault. If successfully proved, that action would nullify any insurance coverage.

An Involved Process

Typically two main areas play a factor in the initial assessment of an engine’s records irrespective of whether it’s for loaner engines or a pre-purchase audit: • The Life Limited Parts (LLP) status will show how many serviceable cycles remain on the engine; and • The Engine Gas Temperature (EGT) recording from the MPA run shows how efficiently the engine is running. This is especially useful if operating in hot temperatures. Provided that the above two points are acceptable, and assuming that a Borescope inspection is a given before any engine is installed 64

AVBUYER MAGAZINE – February 2015

“...and if the records are not 100% accurate the insurance company could discover those paperwork errors...”

on any type of aircraft regardless of the length of time the powerplant is required to operate on the aircraft, the audit would go into full-swing assessing the engine log books and records to ensure all certificates are in place for work carried out and that all work has been certified correctly. The AD and SB status can be of particular importance because if certain actions haven’t been taken when they should have been, or are coming up shortly after an owner takes responsibility for the engine, this situation could prove particularly expensive. Accident and/or incident checks are also essential to an audit, and while mishaps may not have written-off an engine they can be a reason for a low-price for an engine and need to be understood by the prospective operator before taking ownership. In addition, checks should be made that the engine’s total hours and total cycles are correct from the time the engine was installed on the aircraft and when checks subsequently were carried out. www.AVBUYER.com

Aircraft Index see Page 4

Engines 2_Finance 21/01/2015 09:53 Page 3

Other essential areas of audit include: • Repairs Status; • Borescope Inspections (preferably videos); • Maintenance Program Planning Document & Limitations; • Traceability of Parts (also that the traceability is acceptable to the applicable airworthiness authority of the aircraft that will receive the powerplant); • Engine Monitoring Documents; • Reliability Program Documents; • Corrosion Control Program; • Shop visit Reports; and • Maintenance Management System. As you probably ascertain, engine audits are a complex, involved process. Remembering that the correct conduct of an audit is ultimately the responsibility of the aircraft owner and that audits are not a globally regulated function, who should an owner turn to for assistance? The following outline provides some basic starting points – although you will need to establish that service providers have the right experience and certifications specific to your aircraft and engine type.

• • • • • •

Aircraft Management Companies; CAMO; Technical Services Engineers; Licenced Aircraft/Powerplant Engineers; Aircraft Quality Manager/Engineers; Pilot with an Aircraft Engineering Background.

Only as Good as the Input

“Don’t forget, though, that a

Today, there are Maintenance Management Systems used widely by operators to track maintenance that are a good point from which to start your auditing process. Don’t forget, though, that a computer program is only as good as the person who inputs the data. Mistakes can happen, so it’s also essential to check the dirty finger print records that have the engineer’s signature and stamp. If all of the above elements check out fine, then you know an engine is in a good state of repair and is acceptable to the airworthiness authority to fit to the aircraft you plan to purchase, or continue to operate while your regular powerplants are at the repair shop. Are you looking for more articles on engines? Visit www.avbuyer.com/articles-guides/ business-aviation-engines ❚

computer program is only as good as the person who inputs the data.”

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Engines 3_Finance 21/01/2015 09:56 Page 1

FLIGHT DEPARTMENT ❚ ENGINES

Engine Pre-Purchase Inspections: Understanding an Aircraft Engine’s Status and Costs.

AVBUYER MAGAZINE – February 2015

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Aircraft Index see Page 4

Engines 3_Finance 21/01/2015 09:57 Page 2

Because engines are one of the biggest maintenance cost drivers on an aircraft, savvy buyers request engine pre-purchase inspections, notes JSSI’s Tony Rossi. Here’s an example why…

had just snaked the borescope through the second and third stage LT stators and disks on the engines of the Citation V and was trying to get a peek at the HT Blades. “How does everything look in there?” The owner was anxious to hear if I had found anything. Standing nearby, the prospective buyer wasn’t saying anything - just waiting patiently for my report. After a view through the borescope and pictures of the internal condition of the engine, I would get to the logbooks and spend some time looking at the Life Limited Component (LLC) history of these engines. There was a question about one of the impellers being timed out. A new impeller would be a high-dollar expense and add substantial cost to the upcoming engine overhauls. This scenario played out many times during my tenure working for a Designated Overhaul Facility (DOF) for JT15D engines. Potential buyers would call us looking for an expert opinion and borescope report on the condition of the engine, commonly referred to as the engine ‘pre-purchase inspection’. More often than not, the borescope inspection is just a precaution and a means to find any Foreign Object Damage or other damage in the engine not visible to the naked eye. If you are in the market for an aircraft and are thinking about having a borescope inspection accomplished on the prospective aircraft, it’s always a good idea to start with a sales contact at the repair facility for that particular engine model or an FBO that is familiar with the airframe and engines. Most sales representatives will jump at the chance to provide this service because they can gather updated times and cycles from the engines’ log books, allowing them to track maintenance and provide quotes. Many times these inspections can be done at very reasonable rates. One Pratt & Whitney Canada DOF sales person told me that in many instances they can provide a technician to borescope two engines at a cost in the $2,500.00 range. That’s a small price to pay for your peace of mind when purchasing an aircraft!

Warranty Coverage Issues

It is important to keep in mind that if a defect is found in an engine that is still under a manufacturer or overhaul shop warranty during a pre-purchase inspection, it’s possible that it won’t be covered! Why? Quite simply, there is no Advertising Enquiries see Page 8

maintenance requirement for the borescope. The key here is that the engine was operating within normal parameters and the borescope was optional. That cracked PT or CT Vane you find would probably have been just fine until the next scheduled maintenance event. You would be surprised at the amount of cracking on such a part that is actually within maintenance manual limits. Viewed through a borescope, damage typically looks worse than it actually is. Any findings during a borescope inspection called out in the maintenance manual (such as during a 400-hour nozzle flow on most PT6A series engines) are usually something that the manufacturer or overhaul shop will agree to consider and possibly warrant.

Realistic Cost Estimates

Many of the aircraft on the market today are 20-30 years old and the engine overhauls can cost as much as, or more than the value of the airframe. Knowing the Time Before Overhaul (TBO) or Hot Section Inspection (HSI) interval of the engines is critical as many owners sell an aircraft right at the time the overhauls are due. If this is the case, talk to the overhaul shop and try to get a realistic estimate of the cost of the upcoming maintenance. Many providers will tell you there’s no way to predict the cost of an overhaul but they should be able to provide average costs. While there are always variables, it’s not as hard as you might think to get a very educated guess on these upcoming costs. That brings us back to that borescope and log review on the Citation V mentioned at the beginning of this article. It didn’t initially make sense to me that only one impeller would be due on a pair of engines that were original to this aircraft. Those suspicions were confirmed; both were due. A discrepancy was tracked back to a flight hour and cycle reporting math error. These engines were in great shape and the aircraft was as well, but the owner and prospective buyer couldn’t come to a mutual agreement on how to value (or devalue) the aircraft, based on the upcoming overhaul costs. A thorough understanding of the aircraft engines’ status is a key factor in the pre-buy inspection process and will provide insight to the overall cost of operating that aircraft for years to come. ❚ www.AVBUYER.com

Tony Rossi is a seasoned sales and service professional with nearly 25 years’ experience in the aerospace industry. As an Engine Product Line Specialist for Jet Support Services, Inc., the world’s largest independent provider of hourly cost maintenence programs, he’s responsible for facilitating high quality, cost effective and timely turbine engine repairs and overhauls specific to the Pratt & Whitney product line. More from www.jetsupport.com

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FD M 1_Finance 21/01/2015 09:59 Page 1

FLIGHT DEPARTMENT ❚ MANAGEMENT

Aviation Services: Are you Aiming Too Low? (Part 2) Is management holding Aviation Services to a high enough standard, asks Pete Agur as he identifies a Flight Department’s four biggest safety opportunities.

H Pete Agur has sat on various committees including for Flight Safety Foundation and NBAA (Corporate Aviation Management). He is the Managing Director & founder of The Van Allen Group and also a member of the Aviation Speakers Bureau. Email pagur@vanallen.com

aving explored the way Aviation Services providers can create even greater value for a company by doing “the right things”, this month we explore four impactful ways to reduce safety risks by “doing things right” with leadership guidance and support. Appropriate actions start at the Boardroom and flow through Flight Department management to the flight deck, the shop floor and the scheduler’s desk.

1. Executive Direction

A foundation to the performance of Safety is for the customer to declare the standard of performance that is expected. But, even more importantly, top management must support Flight Department management by providing clear delineation as to what that concept means. For instance, when I ask Boards of Directors and C-suite executives what standard of aviation safety they want, by far the most common answer is, “Best Practices or better”. They are citing a business standard that means: Assure the outcomes we intend. This is in contrast to Standard Practices, which means: The minimum required to prevent failure. Put

AVBUYER MAGAZINE – February 2015

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into practical terms, safety Best Practices provide the proactive mitigation of significant identified risks. Leaders should match mouth with movement. Once they have targeted “Best Practices or better”, they must authorize the investment in the assets (people, information and technology) it takes to make the Board’s wishes happen.

2. Assets of Safety

Interestingly, many companies make substantial initial investments in their aircraft. They authorize an amazing array of optional equipment that is safety related during aircraft selection and purchase. That is a very good thing. For instance, if company aircraft are going into remote regions or mountainous terrain where ground-based support (radar and communications) can be spotty, you want the flight crew to have the best independent information immediately available to them as they fly into the dark of night or turmoil of storm. That’s why, as examples, synthetic vision (computer modeling of terrain) and enhanced vision (infrared technology) are becoming standard equipment for operations into challenging envroments. Aircraft Index see Page 4

FD M 1_Finance 21/01/2015 10:01 Page 2

Surprisingly, many of those same companies underinvest in their most effective safety assurance assets: people. About 70 percent of accidents are human sourced. That means that budget authorization for headcount, training/education, and compensation are even more critical than investment in the aircraft, itself. The selection, development and retention of key people are the responsibility of the managers of the company’s Business Aviation services.

3. Safe Practices

Consistent achievement of safety Best Practices begins with systems and processes. It culminates in behaviors. By definition, a Safety Management System (SMS) is the process of identifying, evaluating, and mitigating significant risks. However, a properly designed SMS is not a Best Practice. The Best Practice is its consistent and effective application. How should an SMS be gaged? A formal SMS includes the measurement of identified risks and the tracking of their mitigation. In other words, a member of the department identifies a risk and registers it into the system using a HIT (Hazard and Incident Tracking) report. The hazard is then assessed, and if appropriate, mitigated. Here are two metrics that indicate how well an SMS/HIT system is working: • Frequency and source of reports: Safety threats can be observed by anyone—schedulers, technicians and flight crewmembers. As an example, at least one significant and actionable threat is likely to occur on any and every flight leg. Yet, the average SMS/HIT system has less than one entry per person per quarter. You want to establish the expectation that the formal system must be used every time a significant risk is incurred. Otherwise, you have no way to track the risks. More importantly, without those formal reports

Advertising Enquiries see Page 8

“However, a properly designed SMS is not a Best Practice.”

there is no systematic way for the organization to learn and become even safer. • Timely and effective mitigation of identified significant risks: If the flight department has repeated submissions of the same risk, why has the risk not been addressed? Is the submission of the HIT report really an attempt to have an excuse in case the risk does result in an event? The metrics of the frequency and speed of HIT report resolution is a clear report card on the performance of your staff’s commitment to safety as a cultural norm.

4. Trust and Verify

How often are key financial and operational metrics of the flight department reviewed by your company? When it comes to departments (such as Aviation Services) that are responsible for millions of dollars of company assets, it is a Best Practice to periodically conduct an audit by a highly qualified and independent third party who is sponsored and overseen by senior management. When it comes to the safety of your most precious corporate resources-your corporation’s key peoplehow often and well are your Aviation Services audited? • •

The Best Practice is to have an external aviation audit every other year. Most do not. The Best Practice is for the “audit” to be a review of Best Practices. It should include: o Identification of the strengths of your Aviation Services’ current assets, staff, systems and processes, and behaviors; and o Identification of opportunities for them to improve, including a clear road map of options for achieving those improvements.

So, there you have it. Four specific ways you can aim to raise your Business Aviation safety. Now all you have to do is pull the trigger. Do it! ❚ www.AVBUYER.com

February 2015 – AVBUYER MAGAZINE

Aradian September 18/08/2014 14:56 Page 1

2011 Bombardier Challenger 605 Serial Number: Registration: Airframe TT: Landings:

5848 VT-MKJ 595 452

Engines On GE On Point APU Honeywell GTCP 36-150CL on MSP 830 Avionics Collins Proline 21, 4-tube EFIS Com Dual Collins VHF 4000 Nav Dual Collins VIR 4000 ADF Dual Collins ADF 4000 DME Dual Collins DME 4000 Transponder Dual Collins TDR 94D FMS Dual Collins FMC 6000 GPS Dual Collins GPS 4000A

Price ex India: Make offers

Rad Alt Dual Collins ALT 4000 ELT Artex 406 IRS Dual Honeywell Laseref V ADC Dual Collins 850E HF Dual Collins HF 9000 w/ SELCAL Radar Collins TWR 850 FDR L3 FA 2100 CVR L3 FA2100 (120 min) EGPWS Honeywell Mk VII TCAS Collins TCAS 4000 Change 7 Features RVSM and MNPS compliant Autothrottle 115V AC outlets in cockpit and cabin Iridium satellite phone system with Datalink and 2 handsets Life vests and life rafts Smoke googles, flashlights and crash axe in the cockpit

8.33 kHz spaced radios and FM immunity EFIS/EICAS with Synoptics Lightning detection system Enhanced maps on MFD Interior 9 passenger interior in Beige leather. Forward - 4-place club with executive tables. Aft – 2-place club opposite a 4-place berthable divan in fabric. High gloss, wood veneer cabinetry. Satin Almond Gold plate accessories. Aft toilet with vanity. LH forward storage closet and RH forward galley with coffee maker, microwave oven, sink with hot and cold water and storage drawers. Sheepskin covers on crew seats. Entertainment centre includes Airshow ASXi, dual DVD/CD/MP3 player, two 21” forward and aft bulkhead monitors and individual monitors Exterior Overall White with Blue and Gold stripes

1999 Gulfstream V Airframe TT: Landings:

5050 1760

Engines Engines on Rolls Royce Corporate Care Left Right Total Hours: 4828 4967 Engine Cycles: 1626 1652 APU Honeywell RE220 with 3783 hours total time Avionics Com Triple Collins VHF-422D ADF Dual Collins ADF-462 HF Dual Collins HF-9000 Transponder Dual Collins TDR-94D FMS Triple Honeywell NZ-2000 IRS Triple Honeywell Laseref IV

EGPWS Allied Signal Mark V w/Windshear Protection Radar Honeywell Primus 880 CVR B&D Stormscope WX 1000+ Nav Dual Collins VIR-432 DME Dual Collins DME-442 Rad Alt Dual Honeywell RT-300 ELT Artex 406 GPS Dual 12-Channel TCAS Honeywell TCAS II w/Change 7 ELT Artex FDR B&D Features RVSM and MNPS compliant Global Sat-AFIS data link system Honeywell MCS 6000 6-Channel Satcom with Magnastar C2000 phone system

UK office Tel. +44 1481 233001 Fax.+44 1481 233002 steverogers@aradian.com Also in: South America, South Africa, Russia, Spain, Germany, India & UAE

External camera system Honeywell HUD 2020 Head Up Display Securaplane 450 security system Interior Fourteen passenger configuration in Light Beige leather with Gold plate accessories. Side panels and headliner in coordinating Beige. High gloss, light wood veneer cabinetry. Forward – four-place club; Mid cabin – four-place club; Aft cabin – Two-place club opposite a four-place berthable divan. Forward, galley with microwave and convection oven, dual coffee makers, hot and cold water and storage for crystal, china, cutlery, food, beverages and ice Exterior Overall White with Brown stripes

US office: Mesa Tel. +1 480 396 9086 Fax. +1 480 393 7008 rick@aradian.com www.aradian.com

Jeteffect Inventory February 19/01/2015 16:00 Page 1

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Year

Model

Serial No.

1998

Astra SPX

1990

Challenger 601-3A

5066

1994

Citation Ultra

560-0260

1992

Citation V

560-0187

1997

Citation X

750-0016

2000

Citation X

750-0121

1979

Falcon 20F-5BR

392

1981

Falcon 50

1998

Falcon 2000

1999

Falcon 900B

174

2014

Global 6000

9541

2008

Gulfstream G150

256

1987

Gulfstream GIV

1021

2007

Gulfstream G550

5149

2010

Gulfstream G550

5332

2005

Hawker 400XP

RK-407

1997

Hawker 800XP

258317

2004

Hawker 800XP

258695

1995

King Air 350

FL-126

2000

Learjet 45

079

2009

Learjet 45XR

385

2001

Learjet 60

229

2007

Learjet 60XR

320

2010

Phenom 100

50000218

2002

Premier I

RB-31

2010

Bell 427

56080

FD M 2_Finance 21/01/2015 10:05 Page 1

FLIGHT DEPARTMENT â?&#x161; MANAGEMENT

Experience or Proficiency: Which Pilot Attribute Would you Choose? George Dom challenges aviation managers to consider traditional attitudes regarding crew selection, prompted by his experiences as a hard-charging lieutenant flying FA-18As from the deck of the USS Coral Sea. George Dom USN(Ret) has over 30 years aviation leadership experience, was Sr VP of an industryleading consulting firm and is president & founder of NFS Advisors, where he represents buyers of business aircraft and services. Email gdom@nfsjets.com

n the mid-1980s, President Reagan ordered the Navy and Air Force to send Libyan revolutionary Colonel Gaddafi a stern message regarding his support for terrorism. Carrier Air Wing Thirteen, flying from the USS Coral Sea, was assigned targets in the now-famous city of Benghazi, and the USAF F-111 fighter wing based in England was assigned targets in Tripoli with aerial defense of the Air Force bombers provided by USN F-14s from the USS Saratoga. While unverified, the story that filtered through the Navy squadrons involved selection of what USAF F-111 crews should fly the mission: Should they be

AVBUYER MAGAZINE â&#x20AC;&#x201C; February 2015

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older pilots with combat experience in Vietnam but with limited recent flight time since their current staff assignments restricted flight activities? Or should younger F-111 pilots who trained daily in the latest tactics but had no combat experience fly the mission? Alas, the USAF leaders sent experienced USAF pilots as well as highly trained but younger, inexperienced pilots. Which group performed better? The reports we received stated that the younger pilots with frequent recent tactical flight training performed better in target acquisition and accuracy of their bombs than the older pilots. Aircraft Index see Page 4

Wentworth February_Layout 1 21/01/2015 11:55 Page 1

1ŕľžŕś? (ŕś&#x2018;ŕľźŕś&#x2026;ŕś&#x17D;ŕś&#x152;ŕś&#x201A;ŕś?ŕľž /ŕś&#x201A;ŕś&#x152;ŕś?ŕś&#x201A;ŕś&#x2021;ŕś&#x20AC;ŕś&#x152;

BBJ S/N 29135

CHALLENGER 604 S/N 5320

23-Passenger High Level VIP Interior, New Paint in 2013, Tailwind Live TV, Heads Up Guidance System, Forward Airstairs, Aerocon 3000 SATCOM. Engines on GE OnPoint Fly-by-Hour Program, 144-Month Inspection c/w in 2013.

3603 Total Landings, Engines with 770 Cycles SNEW, No Damage History, EICAS, Landing Gear Overhauled in 2012, 9-Passenger Interior with 6 VIP Seats and Aft 3-place Divan, Interior Refurbished in 2012. N Registered until 2012.

3KRQH ( PDLO 6DOHV#:HQWZRUWK $HUR 7RXU RXU ILQH DLUFUDIW DW ZZZ :HQWZRUWK $HUR

BOEING S27-200 VIP S/N 22825

CRJ-900 NEXTGEN S/N 15277

EUROPTER EC-130 B4 S/N 3536

Super 27 Valsan â&#x20AC;&#x201C;217 modification. 5600 Hours SNEW, Winglets, MSG-3 with Spring 2013 C Inspection, Boeing Aux Tanks, VIP SNEW. Beautiful new exterior and interior designed by prominent South African Designer. Flies on an International Charter Certificate.

Only 50 hours ferry time. Immediate delivery. Always hangared. Extended range version with LR upgrade option. 88 passenger seats. Ideal candidate for a corporate shuttle, sports team missions, or CRJ-890 VIP conversion.

1750 Hours, Fresh inspections: 12 Year/ 100Hour/150-Hour/ 600-Hour. New Interior in 2013. Owner just took delivery replacement aircraft and wants offers. WANTED: Bell 430

FD M 2_Finance 21/01/2015 10:06 Page 2

FLIGHT DEPARTMENT ❚ MANAGEMENT

An article in AIN's Safety blogpost reminded me of that discussion. Two researchers have come to a similar conclusion regarding commercial airline pilots. Research: Logbook Hours Don’t Always Make Safer Pilots For years, experts have wondered about the correlation–or the lack of one–between pilots’ flight-time experience and how they perform in the cockpit. Two Australian human-factors researchers–Matthew Thomas and Melanie Todd–have tackled the question. When studying first officers already flying for the airlines, the two researchers concluded that there was not much difference between relatively experienced versus less experienced pilots. The study was conducted much like a line-oriented-safety audit, in which evaluators observed flight crews in action from the cockpit jump-seat to evaluate their technical and non-technical skills, situational awareness, task management and decision-making. About the only difference the research did show between high-time and low-time first officers was that low-time pilots took longer to switch off the automation than their higher-time colleagues during stabilized approaches. Thomas and Todd concluded that low-time first officers were just as capable as their higher-time counterparts.

Selecting Crews

When asked by my clients to assess a candidate pilot, I observe that experience is critical provided it is relevant and relatively recent. Total number of hours is not as important as quality, relevance and recency of flight time, including simulator-based training in emergencies and malfunctions that cannot be safely simulated in the aircraft. Research also touched on a growing concern that pilots have become too reliant on cockpit automation – flight management systems, auto-pilot, GPS, flight directors, auto-throttles, HUD, etc. – at the expense of basic flying skills and situational awareness when presented with an unusual situation and/or system failure. As a Navy FA-18 carrier pilot, when the weather cooperated, I routinely flew night instrument approaches to the ship with the HUD and primary MFD turned off in order to challenge my instrument scan. I wanted to be up to the task should an actual system failure occur. Just like golf, 90% of instrument flying is mental and requires solid confidence to be done well when the chips are down. Aircraft owners and their flight department leaders must embrace the training requirements to develop and maintain flying skills of the company’s crews. This ethos will require commitment and creativity on everyone’s part to make the most of precious flight time and training opportunities. I’m not suggesting aircrew should explore training scenarios when carrying passengers or 76

AVBUYER MAGAZINE – February 2015

“Total number of hours is not as important as quality, relevance and recency of flight time...” encountering adverse weather conditions. Rather, positioning flights usually offer appropriate conditions for briefing, flying and debriefing some aspect of the flight that will contribute to honing skills. I know of one flight department that scheduled and paid for “back to basics” flying in tail-draggers at their local flight school. They are even considering adding a J-3 Cub to their hangar of jets! Gray hair on the PIC in the left seat should only be comforting to the owner and passengers if it has been accompanied by recent and relevant flight training. ❚ Are you looking for more articles on Flight Department Management? Visit www.avbuyer.com/articles/ flight-department-management/

Search for the world’s best jets at

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Aircraft Index see Page 4

J Hopkinson 1 February 19/01/2015 16:01 Page 1

Tel: (403) 291 9027 Fax: (403) 637 2153 sales@hopkinsonassociates.com www.hopkinsonassociates.com

Hawker 800XP 4561 AFTT, Engines on MSP, APU on MSP. TCAS 2000 II, Fairchild F-1000 DFDR, CVR-120, Airshow 400, 8 Passenger, New Interior in 2013 (excluding cabinets), EGPWS

Challenger 604 7408 AFTT, Engines on Smart Parts Engine, APU on MSP, Great Pedigree, Two Owners Since New, Delivered with Fresh 192 month, Fresh Landing Gear

Gulfstream Astra SP 7097 AFTT, Engines on MSP, TCAS II, EGPWS, GNS XLS FMS, RVSM and VIP Configuration with 6 pax

Falcon 50 13,611 hrs, Engines on MSP Gold, Collins Pro-Line 4, Dual Honeywell Laser Ref III, Magnastar Airphone C-2000, Airshow 400, MGTW Increase, 8 Passenger Seating, APU on MSP

King Air 350i 599 AFTT, Rockwell Collins Pro Line 21/FGC 3000, CVR, TCAS II, TAWS+, Air Conditioning, and Eight Heated Cabin Chairs

John Hopkinson & Associates Ltd. 1441 Aviation Park NE, 2nd Floor, Box 560, Calgary, Alberta, T2E 8M7

Jetnet February_Layout 1 19/01/2015 16:04 Page 1

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Southern Cross February_Layout 1 19/01/2015 16:06 Page 1

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2007 CL850 • s/n 8056 • OE-ISF

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2002 Lear 45 • s/n 201 • N451SC

1996 Challenger 604 • s/n 5328 • XA-JCG

6,950 TT • MSP Gold / MSP / Smartparts- BR engines • APU • Dual FMS • One owner since new • New Paint • New Interior including New Woodwork • All trades considered

6,750 TT • Engines, APU & airframe on programs • Jar Ops equipped • FDR, ADS-B, WAAS & many other avionics upgrades • New paint • New media center & speakers • Excellent maintenance status & pedigree • Will trade towards a CL 605

2006 Beechjet 400XP • s/n 448 • N488SC

2012 Lear 40XR • s/n 2133

Only 1800 TT since new • N registered in December 2014 • A/B recent inspections done at Hawker Beechcraft Tampa • HSI done in Austria in 2011 • Excellent condition inside and out

Only 570 TT • Dual UNS-1EW FMS’s • TCAS II • Aircell • Freon Air • Latest model 40XR in the world

2000 Lear 31A • s/n 203

2011 Hawker 4000 • s/n RC-59 • N117DS

Only 2807 TT since new • MSP Gold • Reisbeck storage locker • New Interior and paint in 2010

Only 700 TT • Engines on ESP Gold • APU on MSP Gold • Avionics on warranty • WIFI • FDR • Loaded with options • Batch 3 c/w

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Safety 1_Finance 21/01/2015 10:12 Page 1

FLIGHT DEPARTMENT ❚ SAFETY

When ‘No’ is Necessary: How do you Re-inforce an Unpopular Safety Call?

Standing up to undue pressure is the trademark of a competent, safety-conscious pilot notes Mario Pierobon. How can you handle external expectations to fly where safety could become compromised?

Mario Pierobon works as a Safety Management Consultant and Content Producer. He is currently involved in a major airside safety research project at Cranfield University in the UK. Contact him via marioprbn@gmail.com

ften non-aviation personnel have little idea of the safety sensitivities of flying. An executive who needs to be at an important meeting – the outcome of which could secure a multi-million dollar contract for the corporation; or an engineering team with a critical repair to make to a customer’s product will tend to see only their need to be in a certain place, at a certain time. Their case can seem compelling. For the purpose of this article, we will refer to the resulting pressure placed on a flight crew to fly against their better judgment as ‘production pressure’. By considering the safety management framework of the International Civil Aviation Organization (ICAO), with a specific focus on latent conditions and active failures, it is possible to ascribe production pressure to the category of so-called ‘normalization of deviance’, which explains why managers and operators gradually accept substandard safety performance. These latent, very subtle conditions only need a small triggering factor - such as a slip in the accomplishment of a delicate

AVBUYER MAGAZINE – February 2015

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mission - to manifest their deadly potential. The particularly deceptive nature of production pressure placed by customers on speedy mission accomplishment – no matter what – is revealed by the fact that it also blinds decision-making within small flight departments. In theory, a flight department should have very high levels of safety awareness as to whether a mission is a ‘go’ or a ‘nogo’, due to the fact that management personnel are also heavily involved in operations. So how could a safety-conscious flight department seek to distinguish the deceptive power of the ‘normalization of deviance’ from acceptable levels of safety due to the inability to say ‘no’ when really necessary? There is a need to consider this problem both at the level of the safety awareness of the single pilot and more comprehensively as an organizational issue involving flight crews.

Pilot Awareness

Since the final decision as to whether to undertake a mission or not lies in the hands of the pilotAircraft Index see Page 4

Safety 1_Finance 21/01/2015 12:04 Page 2

a corporation to recognize the eminence of the decision-making power of the pilot-in-command, and support those mechanisms that will allow for the recognition of mental traps that may lead to accepting undue production pressure. In order to achieve this, it is important to create a ‘safety first’ culture that is acceptable to the corporate customers served by the department. For example, how do you justify the cancellation of a significant business meeting because of a storm en route? The typical reasoning of the nonaviation-knowledgeable passenger is that the anti-ice system should deal with any icing conditions faced. It is thus an organizational effort for the flight department to establish the appropriate connection with their corporate passengers and help them understand the rationale behind a ‘no-go’ decision. The only practical way a flight department can work with a corporation to ensure it understands and endorses the department’s decisions to fly or not to fly is to establish a tough and brave attitude with corporate customers. Toughness and courage are needed at two main stages: • •

When contracts are negotiated, and When a decision to cancel a flight is necessary.

Negotiation? in-command, it is important first and foremost to educate pilots to recognise the pressure mechanisms they can face when asked to fly, when it’s known it would be safer not to. These include instances that will inconvenience the passengers – such as when an important business meeting will be cancelled due to expected severe weather conditions, or when landing at airports with runways of barely acceptable length is a necessary part of mission accomplishment. The pressure mechanisms the pilot will face can be either internally generated, such as when a pilot plays down the reality of the situation in his/her mind for the sake of customer satisfaction - or externally generated, such as in cases of heavy, perhaps even unpleasant and disrespectful corporate passenger pressure.

Organizational Awareness

An increased, or perhaps renewed, awareness in recognising production pressure mechanisms by pilots should embrace and re-enforce the decisionmaking power of the pilot-in-command, and this should be the focus of an effort to nurture a ‘safety first’ culture within an organization. This effort should also empower others within a flight department to make safe decisions every time, even in areas other than aircraft operation (such as withstanding time pressures to properly oversee maintenance tasks). It is essential for all Business Aviation users within Advertising Enquiries see Page 8

In the effort to secure business safety, ‘negotiation’ can easily become an overlooked item. However, it is a crucial part of establishing ultimate authority on the decision of whether a mission can be flown safely or not. When, for example, a charter contract is made it should be clear from the very beginning that no safety caveat shall be tolerated by the air operator, and this step in the contract process should make the best diplomatic case to stress the importance of safety. The reality is that the aviation industry includes players that do compromise safety, but the professional organization will highlight its differentiation as a sound selling point, and it should be ready to walk away from a business negotiation when it becomes apparent that a customer simply does not buy into safety. Even if the best effort is made to avoid customers that are likely to place undue pressure, it may still be the case that such customers are brought on board and that a hazardous situation is generated in the case of a mission cancellation. On top of recognizing the exclusive ownership of the final decision by the pilot-in-command - as stated above - toughness and courage need to come out up to the point of ‘firing the owner’, a practice that is reported by a large corporate aircraft charter and management company as a last resort decision in cases of blatant disregard by customers for the importance of safety. ❚ www.AVBUYER.com

“...it is important to create a ‘safety first’ culture that is acceptable to the corporate customers served by the department.”

Are you looking for more articles on Safety? Visit www.avbuyer.com/ articles-guides/businessaviation-safety

February 2015 – AVBUYER MAGAZINE

Safety 2_Finance 21/01/2015 10:15 Page 1

FLIGHT DEPARTMENT ❚ SAFETY

‘Just Say No’ Three Small Words with Very Big Meaning. Every accident has its own forerunners, and every one happens either because somebody did not know where to draw the vital dividing line between the unforeseen and the unforeseeable or because well-meaning people deemed the risk acceptable. — Stephen Barlay*

he Lockheed JetStar, powered by Garrett TFE731 turbofans, had experienced loss of one or more generators several times since undergoing a sophisticated modification to its generator control system about two weeks prior to the out and back flight between its home base at Westchester County Airport (KHPN) and Toronto International Airport (CYYZ). Well-qualified service companies addressed the aircraft’s recurring electrical problems, yet anomalies continued. After departing KHPN en route to CYYZ, the aircraft lost all four generators for eight to nine minutes, and some basic instruments became inoperative, according to witnesses who discussed the situation with the copilot (who was also a qualified A&P mechanic) as he and the captain prepared for the return flight to KHPN. Calls from the JetStar’s crew to their company’s Director of Maintenance apparently did not resolve the electrical issue. Upon departing CYYZ about 15 minutes before sunset, the crew reported unspecified issues with the aircraft’s landing gear and requested a return to Toronto International. Shortly thereafter, the crew said their aircraft was OK and they would proceed to KHPN. Investigators reasoned that the problem may have related to gear retraction associated with the aircraft’s electrically driven auxiliary hydraulic pump. The next indication that the JetStar crew was experiencing problems appeared as they neared the Brews Intersection, north of KHPN. At least six minutes prior to their anticipated arrival at Brews, New York Air Traffic Control advised the crew to hold there in anticipation of a Brews One arrival procedure for an ILS approach to KHPN. Yet the JetStart flew well past the turn point to enter the Brews holding pattern, thereby exceeding the hold protected airspace and requiring ATC to provide vectors to position the aircraft properly. In response, the copilot stated that the JetStar had lost “the right side radio”, which probably was used to identify Brews. (The scenario described here occurred well before business aircraft were equipped with GPS.) In addition to overflying the Brews holding pattern, the crew’s responses to ATC instructions suggested that they were 82

AVBUYER MAGAZINE – February 2015

preoccupied with tasks other than flying and navigating the JetStar. Further analysis by accident investigators revealed that the aircraft’s transponder was inoperative for 77 seconds as the aircraft approached the KHPN outer marker, another indication of electrical interruption.

No Room for Error

Weather at the time of the JetStar’s approach to KHPN was affected by the presence of a cold front situated about 50 miles west of the airport. Local ceilings were indefinite: 100 feet, sky obscured, visibility ranging from about one-quarter to three-quarter mile, light rain showers and variable winds at times gusting to 21 knots at the airport surface. Pilots arriving at the airport immediately before and after the JetStar reported moderate to severe turbulence throughout the approach path as well as strong wind shear. Even without the distraction of a questionable electrical system, an ILS approach to minimums at KHPN would be challenging that stormy night. The aircraft crashed about 6,000 feet from the approach end of its intended landing runway and 2,300 feet to the right of the ILS centerline. There were no survivors. Probable cause, according to the National Transportation Safety Board, was a distraction to the pilot at a critical time as a result of a major electrical system malfunction, which in combination with the adverse weather environment, caused an undetected deviation of the aircraft’s flightpath into the terrain. The crew of the electrically challenged JetStar had many opportunities to say ‘No’—before the flight to CYYZ, upon landing in Toronto, and before they commenced the approach to KHPN. (The weather at an airport not far to the northwest of White Plains was experiencing significantly more favorable weather conditions.) Yet they elected to continue. Many factors probably contributed to that decision. The challenge for all aviators is knowing when to say No. ❚ - JWO * Extract from ‘The Final Call: Why Airline Disasters Continue to Happen’, March 1990, Stephen Barlay

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Aircraft Index see Page 4

Boutsen February_Layout 1 19/01/2015 16:08 Page 1

Values Intro_Finance 21/01/2015 10:18 Page 1

FLIGHT DEPARTMENT ❚ RETAIL PRICE GUIDE

Medium Jets: Just the Right Fit for Many Operators... Of all the business jet categories, none does more to balance capability with utility than the Medium Jet segment; and no segment provides more options, either.

or the purpose of our Retail Price Guide, medium Jets are loosely defined as aircraft with a Maximum Take-Off Weight between 20,001-40,000 lbs. There’s no disputing the advantages of space as you step into a Medium Jet cabin, particularly when applied to longer trips. That is ultimately where the Medium Jet’s basic advantage comes into play over the Light Jet segment. Medium Jets tend to cruise at the upper-end of the private jet speed range (between Mach 0.78 and Mach 0.85). While on average faster than the Light Jet, a Medium Jet’s superior speed generally provides only a few minutes of gain on the typical Business Aviation trip of 350 to 500 miles, but the difference will become noticeable on longer legs exceeding 1,000 miles. In terms of range, the average Medium Jet can reach most of the US non-stop from almost anywhere else within the US, making them excellent candidates for the operator with regular transcontinental travel needs. That range capability also gives the crew the flexibility to string together a sequence of stops that total the same distance – making it possible for a Medium Jet to cover multiple locations and still get home at the days’ end, without buying fuel along the way. Runway requirements for Medium Jets are generally longer than the average length needed by a Light Jet – but nevertheless Medium Jets can still access a significant percentage of the secondary airports serving most of the 150 largest metropolitan areas in the US. Indeed, Medium Jets generally can match their Large Cabin kin in terms of speed and, to a point, their range, while providing reasonable office amenities that are competitive with most larger aircraft. With all of the above considered, it is little wonder that the Medium Jet segment is the 84

AVBUYER MAGAZINE – February 2015

biggest selling, deepest segment across the business aircraft market.

Medium Jet Price Guide

Note: We have

included 30 aircraft The following Medium Jets Retail Price Guide in the following models represents current values published in the Aircraft Medium Jets average Bluebook – Price Digest. The study spans model price guide, however, years from 1995 through Winter 2014 (20-year for additional assisperiod). Values reported are in USD millions, with tance and interest, each reporting point representing the current Conklin & de Decker average retail value as published in the Bluebook Performance and by its corresponding calendar year. For example, Specification data for the Cessna Citation XLS values reported in the these Medium Jet modWinter 2014 edition of Bluebook shows $5.5 million els can be referred to, beginning on page 88 for a 2008 model, $5.2 million for a 2007 model of this issue. and so forth. Aircraft are listed alphabetically. ! www.AVBUYER.com

Aircraft Index see Page 4

Jetblack October_Layout 1 22/09/2014 16:34 Page 1

Retail Values_RPG 21/01/2015 10:25 Page 1

FLIGHT DEPARTMENT ❚ RETAIL PRICE GUIDE

Medium Jets Average Retail Price Guide YEAR OF MANUFACTURE $ MODEL BOMBARDIER CHALLENGER 300

2014 US$M

24.860

BOMBARDIER LEARJET 60XR

2013 US$M

2012 US$M

2011 US$M

2010 US$M

2009 US$M

2008 US$M

2007 US$M

2006 US$M

2005 US$M

20.0

17.5

16.5

15.0

14.0

13.0

12.0

11.5

11.0

8.2

7.3

6.5

5.8

5.4

4.9

4.4 4.4

3.7

3.2

4.6

4.3

4.0

4.3

4.0

3.7

3.6

3.4

3.0

3.3

3.0

2.7

BOMBARDIER LEARJET 60SE BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR

7.9

7.3

6.5

5.9

5.3

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

6.8

5.8

5.1

4.4

4.1

BOMBARDIER LEARJET 40 CESSNA NEW CITATION X 750

21.0

CESSNA CITATION X 750

15.7

14.0

12.9

11.7

10.0

8.7

8.050

7.050

12.8

12.0

10.5

9.0

8.5

7.8

7.3

6.8

9.2

8.7

8.0

7.5

6.8 5.2

4.7

4.4

7.9

7.5

7.0

7.2

CESSNA CITATION VII 650 CESSNA CITATION SOVEREIGN 680+ 18.131

14.5

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+ 560

12.992

10.0

CESSNA CITATION XLS 560

5.5

CESSNA CITATION EXCEL 560 DASSAULT FALCON 50EX DASSAULT FALCON 50 GULFSTREAM G280

25.0

24.0

22.0

GULFSTREAM G200 GULFSTREAM G150

15.7

12.3

10.3

12.5

11.5

10.0

9.3

8.7

7.7

8.4

7.7

6.8

6.5

6.3

6.0

GULFSTREAM G100

4.1

3.8

GULFSTREAM/ASTRA 1125 SPX HAWKER 4000

6.0

5.8

5.4

5.3

5.2

9.5

7.2

6.5

5.5

5.0

5.4

5.0

HAWKER 1000 HAWKER 900XP HAWKER 850XP PROLINE HAWKER 800XP/i PROLINE

4.5

4.2 3.7

HAWKER 800XP HAWKER 750

6.5

4.9

4.3

3.8

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

AVBUYER MAGAZINE – February 2015

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Aircraft Index see Page 4

Retail Values_RPG 21/01/2015 10:25 Page 2

RETAIL PRICE GUIDE ❚ FLIGHT DEPARTMENT

What your money buys today

WINTER 2014 2004 US$M

10.5

2003 US$M

2002 US$M

2001 US$M

2000 US$M

1999 US$M

1998 US$M

1997 US$M

1996 US$M

1995 US$M

10.25

YEAR OF MANUFACTURE $ MODEL BOMBARDIER CHALLENGER 300 BOMBARDIER LEARJET 60XR

2.8

BOMBARDIER LEARJET 60SE 2.6

3.8

3.4

3.5

3.1

2.5

2.4

2.3

2.2

2.0

1.9

1.8

1.7

BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR

2.9

2.8

2.7

2.6

2.5

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

2.4

BOMBARDIER LEARJET 40 CESSNA NEW CITATION X 750

6.550

6.050

5.750

5.350

4.950

4.450

4.050

3.850

3.700

2.650

2.450

2.350

2.250

2.050

CESSNA CITATION X 750 1.850

CESSNA CITATION VII 650 CESSNA CITATION SOVEREIGN 680+

6.4

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+ 560

4.2

CESSNA CITATION XLS 560

3.9

3.7

3.6

3.3

3.0

2.7

2.5

6.7

6.3

5.9

5.6

5.3

5.0

4.7

CESSNA CITATION EXCEL 560 4.3

DASSAULT FALCON 50EX 3.3

3.0

DASSAULT FALCON 50 GULFSTREAM G280

6.7

6.2

5.7

5.2

4.7

4.2

GULFSTREAM G200 GULFSTREAM G150

3.6

3.4

3.0

2.8 2.8

GULFSTREAM G100 2.4

2.3

2.2

2.1

2.0

GULFSTREAM/ASTRA 1125 SPX HAWKER 4000

2.4

2.3

HAWKER 1000 HAWKER 900XP HAWKER 850XP PRO LINE HAWKER 800XP/i PROLINE

3.5

3.0

2.7

2.5

2.4

2.3

2.2

2.1

2.0

1.9

HAWKER 800XP HAWKER 750

AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: CARL@JETAPPRAISALS.COM Advertising Enquiries see Page 8

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February 2015 – AVBUYER MAGAZINE

ACSpecs Intro Feb15_AC Specs Intronov06 21/01/2015 17:08 Page 1

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

Performance & Specifications Medium Jets

he AvBuyer Magazine Guide to Aircraft Performance and Technical Specification Data is updated by Conklin & de Decker on a regular basis. The Guide is much more comprehensive and informative, providing more aircraft types and models and including variable cost numbers for all models. This month’s category of aircraft - Medium Jets – appears overleaf, to be followed by Light Jets next month. Please note that this data should be used as a guide only, and not as the basis

Description of Cost Elements The following describes the content of each cost element used in The Aircraft Cost Evaluator. There are no sales taxes included in these costs. VARIABLE COST PER HOUR Includes fuel, maintenance reserves for routine maintenance, engine/ propeller/APU reserves, and miscellaneous expenses. Specifications - General CABIN DIMENSIONS Cabin Height, Width, and Length are based on a completed interior. On “cabin-class” aircraft, the length is measured from the cockpit divider to the aft pressure bulkhead (or aft cabin bulkhead if unpressurized). For small cabin aircraft, the distance is from the cockpit firewall to the aft bulkhead. Height and width are the maximum within that cabin space. Cabin Volume is the interior volume, with headliner in place, without chairs or other furnishings. Cabin Door Height and Width are the measurements of the main passenger cabin entry door.

•

• •

•

on which buying decisions are taken. The data presents aircraft aged below 20 years of age only, but Conklin & de Decker provides details of older airplanes too. If there are any other ways in which we can improve the content or presentation of this information, please let us know. Tel: +44 (0) 20 8391 6770; Email: editorial@avbuyer.com. © 2011 Conklin & de Decker Associates, Inc., P.O. Box 1142, Orleans, Massachusetts, 02653, Tel. 508-255-5975, www.conklindd.com

aircraft certification. Basic Operating Weight is the empty weight, typically equipped, plus unusable fuel and liquids, flight crew @ 200 pounds each and their supplies. Useable fuel is the useable fuel in gallons x 6.7 pounds per gallon (Jet fuel) or 6 pounds per gallon (AVGAS). Payload with Full Fuel is the useful load minus the useable fuel. The useful load is based on the maximum ramp weight minus the basic operating weight. Maximum Payload is the maximum zero fuel weight minus the basic operating weight.

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

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

Weights: • Maximum Take-Off Weight and Maximum Landing Weight are specified during

Balanced Field Length BFL is the distance obtained by determining the decision speed (V1) at which the take-off

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

AVBUYER MAGAZINE – February 2015

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distance and the accelerate-stop distance are equal (fixed-wing multi-engine aircraft only). This is based on four passengers and maximum fuel on board (turbine aircraft). For single-engine and all piston fixed-wing aircraft, this distance represents the take-off field length at Maximum Take-off Weight (MTOW). Landing Distance (Factored) For fixed-wing turbine aircraft, landing distance is computed using FAR 121 criteria. This takes the landing distance from 50/35 feet (depends on certification criteria) and multiplies that by a factor of 1.667. No credit is given for thrust reversers. Configuration is with four passengers and NBAA IFR Fuel Reserve on board. For fixed-wing piston aircraft, this figure is the landing distance over a 50 foot obstacle. Rate of Climb (Ft/Min) The rate of climb, given in feet per minute, is for all engines operating, at MTOW, ISA conditions. One Engine Out rate of climb is for one engine inoperative rate of climb at MTOW, ISA. Cruise Speed (Knots True Air Speed - KTAS) Max Cruise Speed - is the maximum cruise speed at maximum continuous power. This may also be commonly referred to as High Speed Cruise. Normal cruise speed is the recommended cruise speed established by the manufacturer. This speed may also be the same as Maximum Cruise Speed. Long Range Cruise is the manufacturer’s recommended cruise speed for maximum range. Engines The number of engines, manufacturer and model are shown.

Aircraft Index see Page 4

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AircraftPer&Spec Feb15_PerfspecDecember06 21/01/2015 17:09 Page 1

MEDIUM JETS

BEE CHC RAF T HA WKE R 75 0 BEE CHC RAF T HA WKE R 80 0 BEE CHC RAF T HA WKE R 80 0XP BEE CHC RAF T HA WKE R 80 0XP i BEE CHC RAF T HA WKE R 80 0XP R BEE CHC RAF T HA WKE R 85 0XP BEE CHC RAF T HA WKE R 90 0XP BEE CHC RAF T HA WKE R 10 00 BEE CHC RAF T HA WKE R 40 00

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

$3,107.66

$3,142.18

$3,168.29

$3,158.77

$2,804.87

$3,178.44

$2,868.11

$3,120.85

$3,670.16

CABIN HEIGHT FT.

5.75

CABIN WIDTH FT.

6.46

CABIN LENGTH FT.

21.3

24.4

CABIN VOLUME CU.FT.

551

634

746

DOOR HEIGHT FT.

4.3

4.25

DOOR WIDTH FT.

2.25

2.5

BAGGAGE VOL. INT. CU.FT.

114

BAGGAGE VOL. EXT. CU.FT.

CREW #

SEATS - EXECUTIVE #

MTOW LBS

27000

27400

28000

31100

39500

MLW LBS

23350

25000

33500

B.O.W. W/CREW LBS

16250

16000

16250

16500

16330

16500

18150

23700

USEABLE FUEL LBS

8500

10000

11440

14600

PAYLOAD WITH FULL FUEL LBS

2200

1520

1750

1620

1790

1620

1510

1400

MAX. PAYLOAD LBS

2200

2000

2050

1950

2120

1950

2150

2300

RANGE - SEATS FULL N.M.

2050

2390

2470

2733

2525

2733

2970

3283

MAX. RANGE N.M.

2200

2570

2620

2929

2710

2929

3150

3100

BALANCED FIELD LENGTH FT.

4900

6300

5640

5258

5641

5258

6000

5459

LANDING DIST. (FACTORED) FT.

3803

3787

3803

3805

3810

3805

3917

4373

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

3500

3415

3577

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

530

532

470

570

470

570

797

880

MAX. CRUISE SPEED KTAS

447

442

449

452

470

489

NORMAL CRUISE SPEED KTAS

430

429

430

440

470

L/RANGE CRUISE SPEED KTAS

402

389

402

400

447

TFE 731-5BR

TFE 731-5R

TFE 731-5BR

PW305B

PW308A

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

TFE 731-50R TFE 731-5BR TFE 731-50R

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

AVBUYER MAGAZINE – February 2015

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Aircraft Index see Page 4

AircraftPer&Spec Feb15_PerfspecDecember06 21/01/2015 17:10 Page 2

LEA RJET 75 BOM BAR DIER

BOM BAR DIER

LEA RJET 70

LEA RJET 60X R BOM BAR DIER

BOM BAR DIER

LEA RJET 60

LEA RJET 45X R BOM BAR DIER

BOM BAR DIER

LEA RJET 45

LEA RJET 40X R BOM BAR DIER

MEDIUM JETS

BOM BAR DIER

LEA RJET 40

HAW KER 400 0

SPECIFICATIONS ❚ FLIGHT DEPARTMENT

$2,346.67

$2,416.13

$2,383.10

$2,485.47

$2,710.29

$2,571.92

$2,297.36

$2,304.52

CABIN HEIGHT FT.

4.92

5.71

4.92

CABIN WIDTH FT.

5.12

5.92

5.12

CABIN LENGTH FT.

17.67

19.75

17.67

19.75

CABIN VOLUME CU.FT.

369

415

447

369

415

DOOR HEIGHT FT.

4.8

5.3

4.8

DOOR WIDTH FT.

2.5

BAGGAGE VOL. INT. CU.FT.

BAGGAGE VOL. EXT. CU.FT.

CREW #

SEATS - EXECUTIVE #

MTOW LBS

20350

21000

20500

21500

23500

21500

MLW LBS

19200

19500

19200

B.O.W. W/CREW LBS

13718

13949

13890

14125

14772

14896

13715

13890

USEABLE FUEL LBS

5375

6062

7910

6062

PAYLOAD WITH FULL FUEL LBS

1507

1239

798

1563

1068

944

1973

1798

MAX. PAYLOAD LBS

2282

2051

2110

1875

2228

2104

2285

2110

RANGE - SEATS FULL N.M.

1573

1778

1423

1685

2186

2044

1849

1805

MAX. RANGE N.M.

1707

1960

1968

1937

2418

2398

2000

1998

BALANCED FIELD LENGTH FT.

4330

4680

4350

5040

5450

4230

4440

LANDING DIST. (FACTORED) FT.

4033

4060

4063

4105

5208

5317

3917

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

2820

2800

2630

4500

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

710

394

590

589

714

718

MAX. CRUISE SPEED KTAS

465

NORMAL CRUISE SPEED KTAS

436

L/RANGE CRUISE SPEED KTAS

428

432

416

432

423

432

PW305A

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

TFE 731-20AR TFE 731-20BR

TFE 731-40BR TFE 731-40BR

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AircraftPer&Spec Feb15_PerfspecDecember06 21/01/2015 17:11 Page 3

VARIABLE COST PER HOUR $

CES SNA CITA TION SOV ERE IGN CES SNA CITA TION SOV ERE IGN +

CES SNA CITA TION XLS +

CES SNA CITA TION EXC EL CES SNA CITA TION XLS

CES SNA CITA TION VII

CHA LLEN GER 350

BOM BAR DIER

MEDIUM JETS

BOM BAR DIER

CHA LLEN GER 300

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

$3,349.10

$3,333.51

$3,426.90

$2,625.25

$2,541.99

$2,503.30

$3,026.69

$2,930.39

CABIN HEIGHT FT.

6.08

5.7

CABIN WIDTH FT.

7.17

5.5

CABIN LENGTH FT.

23.7

18.4

18.5

25.25

CABIN VOLUME CU.FT.

930

422

571

585

DOOR HEIGHT FT.

6.22

4.54

4.5

4.58

DOOR WIDTH FT.

2.5

BAGGAGE VOL. INT. CU.FT.

106

BAGGAGE VOL. EXT. CU.FT.

100

CREW #

SEATS - EXECUTIVE #

MTOW LBS

38850

46000

23000

20000

20200

30300

30755

MLW LBS

33750

34150

20000

18700

27100

27575

B.O.W. W/CREW LBS

23850

24800

14250

12500

12800

18150

18510

USEABLE FUEL LBS

14045

14150

7330

6740

11223

11390

PAYLOAD WITH FULL FUEL LBS

1105

1800

1620

960

860

1177

1125

MAX. PAYLOAD LBS

3350

3400

2250

2500

2300

2650

2490

RANGE - SEATS FULL N.M.

3065

3200

1693

1449

1539

1528

2620

2773

MAX. RANGE N.M.

3340

3600

1824

1839

1989

1976

3010

3163

BALANCED FIELD LENGTH FT.

4810

4853

5170

4060

3910

3810

3650

LANDING DIST. (FACTORED) FT.

3833

3850

4500

4917

4738

3867

3725

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

4240

4315

3790

3500

4016

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

474

510

699

800

1237

MAX. CRUISE SPEED KTAS

470

452

433

440

459

NORMAL CRUISE SPEED KTAS

459

452

433

440

459

L/RANGE CRUISE SPEED KTAS

459

417

373

388

HTF 7000

HTF 7350

TFE 731-4R-2

PW545A

PW545B

PW545C

PW306C

PW306D

ENGINES # ENGINE MODEL

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Aircraft Index see Page 4

AircraftPer&Spec Feb15_PerfspecDecember06 21/01/2015 17:11 Page 4

VARIABLE COST PER HOUR $

GUL FSTR EAM

G28 0

G20 0 GUL FSTR EAM

G15 0 GUL FSTR EAM

DAS SAU LT F ALC ON 50E X GUL FSTR EAM G10 0

DAS SAU LT F ALC ON 50

CES SNA CITA TION X+

MEDIUM JETS

CES SNA CITA TION X

ON SOV ERE IGN +

SPECIFICATIONS ❚ FLIGHT DEPARTMENT

$4,016.21

$4,098.43

$4,500.03

$3,982.42

$2,679.74

$2,517.30

$3,330.74

$3,352.91

CABIN HEIGHT FT.

5.7

5.8

5.9

5.6

5.75

6.25

CABIN WIDTH FT.

5.5

6.1

4.75

5.75

7.2

CABIN LENGTH FT.

23.92

25.2

23.5

17.1

17.7

24.5

32.25

CABIN VOLUME CU.FT.

538

569

215

521

869

888

DOOR HEIGHT FT.

4.5

4.3

4.33

DOOR WIDTH FT.

2.1

2.6

2.08

2.1

2.75

BAGGAGE VOL. INT. CU.FT.

BAGGAGE VOL. EXT. CU.FT.

125

120

CREW #

SEATS - EXECUTIVE #

MTOW LBS

36100

36600

38320

39700

24650

26100

35450

39600

MLW LBS

31800

32000

35715

20700

21700

30000

32700

B.O.W. W/CREW LBS

22025

22464

22000

22250

14365

15100

19950

24150

USEABLE FUEL LBS

12931

15520

9365

10300

15000

14600

PAYLOAD WITH FULL FUEL LBS

1444

1505

1280

2130

920

850

650

1000

MAX. PAYLOAD LBS

2375

2514

3570

3320

2635

2400

4050

RANGE - SEATS FULL N.M.

2890

3229

3057

3223

2550

2760

3130

3420

MAX. RANGE N.M.

3125

3380

3200

3388

2910

3130

3530

3735

BALANCED FIELD LENGTH FT.

5480

5320

5000

6000

5640

6600

4800

LANDING DIST. (FACTORED) FT.

4693

4702

3500

4362

4050

4352

5083

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

3650

3430

3515

3400

3340

3700

5000

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

1120

601

671

493

606

395

846

MAX. CRUISE SPEED KTAS

525

527

480

474

470

482

NORMAL CRUISE SPEED KTAS

525

527

431

459

470

L/RANGE CRUISE SPEED KTAS

470

410

430

459

AE 3007C1

AE 3007C2

TFE 731-3-1C

TFE 731-40

PW306A

HTF 7250G

ENGINES # ENGINE MODEL

TFE 731-40R TFE 731-40AR

Advertising Enquiries see Page 8

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February 2015 – AVBUYER MAGAZINE

Jetbroker's February_Layout 1 21/01/2015 10:18 Page 1

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AirCompAnalysis A_ACAn 21/01/2015 11:28 Page 1

FLIGHT DEPARTMENT ❚ AIRCRAFT COMPARATIVE

CITATION CJ4

Aircraft Comparative Analysis: Embraer Phenom 300

In this month’s Aircraft Comparative Analysis, Mike Chase provides information on a selection of new and pre-owned business jets for the purpose of valuing the Embraer Phenom 300.

Mike Chase is president, Chase & Associates, an aerospace consulting firm specializing in aviation market research. Contact him via Mike@avbuyer.com

new 2014 Embraer Phenom 300 has a list price of $9.315m with the Garmin G3000 Avionics system while the cost of a used Phenom 300 ranges between $6.8m (2010 year model) through $8.2m (2013 year model). The current new/used split for the Phenom 300 business jet fleet is currently 91% and 9% respectively. Here, we’ll consider the productivity parameters (payload/range, speed and cabin size) and cover current and future market values. Exclusive to our online content at www.avbuyer.com we’ll also review the Maintenance Equity, as provided by Asset Insight, Inc.

AVBUYER MAGAZINE – February 2015

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for the Phenom 300. The field in this month’s study includes the Cessna Citation CJ4.

Brief History

Embraer’s Phenom 300 has a capacity for six passengers in its normal configuration with a single pilot. Interior configurations also offer options of a side-facing seat and belted toilet. Powered by two Pratt & Whitney PW535E engines, the Phenom 300 first flew in May 2008. It earned FAA Certification in December 2009 and first delivery to a private customer took place that same month. ! An early indicator of the future success of the Aircraft Index see Page 4

Leading Edge February_LEAS 22/01/2015 15:59 Page 1

1997 Gulfstream V s/n 524

• 12 passenger, Forward & aft lavs, Forward crew rest w/ galley annex, Aft main galley • Engines on RR Corporate Care and On Condition • APU on MSP • Honeywell avionics on HAPP • Aircraft on Honeywell MPP Mechanical Protection • ADS-B Out • Aircell Axxess Data Interface Unit for Data Over Water • Aircell Axxess II Iridium 8-channel SATCOM Phone w/6 Handsets • Electronic Flight Bags • EGPWS with RAAS • Triple IRS, FMS, VHF Comms, & Air Data Computers • All seats reupholstered Aug. 2011 • 12- 24- 48- 96- 192-month CMP Codes c/w April 9, 2014

Specifications subject to verification upon inspection, aircraft subject to withdrawal from the market.

Leading Edge Aviation Solutions

Te l i n U S : 2 0 1 - 8 9 1 - 0 8 8 1

aircraftsales@leas.com

w w w. l e a s . c o m

AirCompAnalysis A_ACAn 21/01/2015 11:29 Page 2

FLIGHT DEPARTMENT ❚ AIRCRAFT COMPARATIVE

Table A - Payload & Range MTOW (lb)

Max Fuel (lb)

Fuel Usage (GPH)

Max Payload (lb)

Avail Payload w/Max Fuel (lb)

Max Fuel Range (nm)

Max P/L w/Avail fuel IFR Range (nm)

Phenom 300

17,968

5353

158

2,216

942

2,077

1,247

Citation CJ4

17,110

5,828

188

2,150

1,052

1,991

1,425

Model

Source: Data courtesy of Conklin & de Decker; JETNET; Aircraft Cost Calculator; B&CA May 2014 Purchase Planning Handbook & Aug. 2014 Operations Planning Guide

Chart A - Cabin Volume Cubic Feet

270

280

290

300

Phenom 300 Citation CJ4

293

310

320

324

Phenom 300 was its selection by fractional provider Flight Options (with a 10-year order for 300-aircraft with 50 options) and NetJets (up to 125 Platinum Edition Phenom 300s). The Phenom 300 boasts the largest space in the light jet class, and offers a large rear baggage compartment of 85 cu ft (19 cu ft internal and 66 cu ft external), that can accommodate luggage including golf bags or skis. The Phenom 300 utilizes either the Garmin G1000 or G3000 Avionics system. Today, there are 229 Phenom 300 business jets in operation worldwide with 64 (or 28%) in fractional ownership, three in shared ownership, and 162 wholly-owned. Additionally, 3% of the Phenom 300 jets are leased according to JETNET. North America is home to the largest percentage of the fleet (46%), followed by South America (30%), and Europe (16%) accounting for a combined total of 92%.

Payload & Range

Chart B - Range Comparison Cessna Citation CJ4 Embraer Phenom 300

1625.330 Nm 1662.380 Nm

The data contained in Table A (left) is sourced from Conklin & de Decker and B&CA’s May 2014 issue. A potential operator should focus on payload capability. The ‘Available payload with Maximum Fuel’ for the Phenom 300 is 942 lbs, which is less than the Citation CJ4 (1,052 pounds). Also shown is the fuel usage by each aircraft model in this field of study (as provided by Aircraft Cost Calculator). The Phenom 300 at 158 gallons per hour (GPH) leads the Citation CJ4 as the most frugal - the Phenom 300 average fuel usage shows 30 GPH (16%) less fuel burn than the Citation CJ4.

Cabin Volume

According to Conklin & de Decker, the cabin volume of the Phenom 300 (324 cubic feet) is greater than the Citation CJ4 (293 cubic feet), as depicted in Chart A (left).

AVBUYER MAGAZINE – February 2015

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Aircraft Index see Page 4

AirCompAnalysis A_ACAn 21/01/2015 11:30 Page 3

AIRCRAFT COMPARATIVE ❚ FLIGHT DEPARTMENT

Range Comparison

As depicted by Chart B (left), using Wichita as a starting destination, according to Aircraft Cost Calculator (ACC) the Citation CJ4 shows slightly less range coverage than the Phenom 300 but both offer non-stop operations throughout North America (including Canada, Mexico and USA). Note: For jets and turboprops, ‘Seats-Full Range’ represents the maximum IFR range of the aircraft at Long-Range Cruise with all passenger seats occupied. ACC assumes NBAA IFR fuel reserve calculation for a 200nm alternate. The lines depicted do not include winds aloft or any other weather-related obstacles.

Chart C - Cost Per Mile*

Cost Per Mile

Chart D - Variable Cost

U $ per nautical mile $0.00

$3.00

$2.00

Citation CJ4

Phenom 300

$3.28 $2.78

* 1000nm MISSION, 800lbs PAYLOAD

The Phenom 300 is powered by two Pratt & Whitney Canada PW535E engines, each offering 3,360 pounds of thrust (lbst). The Citation CJ4 offers a pair of Williams FJ444A engines with 3,621 lbst each. Using data published in the May 2014 B&CA Planning and Purchasing Handbook and the August 2014 B&CA Operations Planning Guide we will compare our aircraft. The nationwide average Jet-A fuel cost used from the August 2014 edition was $6.18 per gallon at press time, so for the sake of comparison we’ll chart the numbers as published. Note: Fuel price used from this source does not represent an average price for the year. Chart C (right) details ‘Cost per Mile’ and compares the Phenom 300 to its competition factoring direct costs and with all aircraft flying a 1,000nm mission with an 800 pound (four passengers) payload. The Phenom 300 shows a cost per mile of $2.78, which is less than the Citation CJ4 ($3.28).

$ per hour

$1,000

$0,00

Q $1,467

Citation CJ4

Q $1,281

Phenom 300

Table B - Comparison Table Long Range Speed (kts)

Cabin Volume (cu ft.)

Max Payload w/avail fuel range (nm)

Bluebook (New/Used) Price $m

In-Operation

% For Sale

Sold*

Phenom 300

383

324

1,247

$9.315**

222

5.0%

Citation CJ4

380

293

1,425

$9.380

164

3.1%

Model

Total Variable Cost

The ‘Total Variable Cost’ illustrated in Chart D (right) is defined as the Cost of Fuel Expense, Maintenance Labor Advertising Enquiries see Page 8

Source: Data courtesy of Conklin & de Decker, JETNET; Aircraft Bluebook; Operations planning guide B&CA * New & Pre-owned full sales transactions in the past 12 months; Source: JETNET

! www.AVBUYER.com

February 2015 – AVBUYER MAGAZINE

AirCompAnalysis A_ACAn 21/01/2015 11:31 Page 4

FLIGHT DEPARTMENT ❚ AIRCRAFT COMPARATIVE

TABLE C - Part 91 & 135 MACRS Schedule MACRS SCHEDULE FOR PART 91 Year Deduction

20.00 %

32.00 %

19.20 %

11.52 %

5.76 %

14.29 %

24.49 %

17.49 %

12.49 %

8.93 %

8.92 %

8.93 %

4.46 %

MACRS SCHEDULE FOR PART 135 Year Deduction

Source: NBAA

TABLE D - MACRS Depreciation Schedule 2014 EMBRAER PHENOM 300 - PRIVATE (PART 91) Full Rate Price - Million

$9.315

Year

20.00 %

32.00 %

19.2 %

11.5 %

5.8 %

Depreciation ($M)

1.6

3.0

1.8

1.1

0.5

Depreciation Value ($M)

7.5

4.5

2.7

1.6

0.5

Cum. Depreciation ($M)

1.9

4.9

6.6

7.7

8.8

9.3

Full Rate Price - Million

$9.315

Rate (%)

2014 EMBRAER PHENOM 300 - CHARTER (PART 135) Year

14.3 %

24.5 %

17.5 %

12.5 %

8.9 %

4.5 %

Depreciation ($M)

1.13

2.28

1.63

1.16

0.83

0.42

Depreciation Value ($M)

7.98

5.70

4.07

2.91

2.08

1.25

0.42

0.00

Cum. Depreciation ($M)

1.3

3.6

5.2

6.4

7.2

8.1

8.9

9.3

Rate (%)

Source: ACC (aircraftcostcalculator.com)

Expense, Scheduled Parts Expense and Miscellaneous Trip Expense. The Total Variable Cost for the Phenom 300 shows a lower cost at $1,281 compared to the Citation CJ4 ($1,467).

Aircraft Comparison Table

Table B (previous page) contains the new retail prices from Aircraft Bluebook for each aircraft. The average speed, cabin volume and maximum payload values are from Conklin & de Decker, while the number of aircraft in-operation and percentage ‘For Sale’ are as reported by JETNET.

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AVBUYER MAGAZINE – February 2015

The Phenom 300 and Citation CJ4 both have less than 10 percent of their respective fleets currently ‘For Sale’, traditionally representing a buyer’s market. Evidently Phenom 300s make an attractive proposition with a total of 75 units (new and used) sold over the past 12 months (an average of 6.25 units monthly) compared to the Citation CJ4 with 36 units - three units per month (or approximately half the number of sales of the Phenom 300).

Depreciation Schedule

Aircraft that are owned and

operated by businesses are often depreciable for income tax purposes under the Modified Accelerated Cost Recovery System (MACRS). Under MACRS, taxpayers are allowed to accelerate the depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period (see Table C, above). In certain cases, aircraft may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS) where depreciation is based on a straight-line

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method meaning that equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are longer than recovery periods available under MACRS. There are a variety of factors that taxpayers must consider in determining if an aircraft may be depreciated, and if so, the correct depreciation method and recovery period that should be utilized. For example, aircraft used in commercial charter service (i.e. Part 135) are normally depreciated under MACRS over a seven year recovery period or under ADS using a twelve year recovery period. Aircraft used for qualified business purposes, such as Part 91 business use flights, are generally depreciated under MACRS over a period of five years or by using ADS with a six year recovery period. There are certain uses of the aircraft, such as non-business flights, that may have an impact on the allowable depreciation deduction available in a given year. Table D (left) depicts an example of using the MACRS schedule for a 2014 model Embraer Phenom 300 aircraft in private (Part 91) and charter (Part 135) operations over fiveand seven-year periods respectively, assuming an Aircraft Bluebook New retail value of $9.315 million sourced from Aircraft Bluebook

Asking Prices vs AFTT, Age & Engine Thrust

Chart E (right) sourced from the Multi-dimensional Economic Evaluators Inc. (www.meevaluators.com), show a Value and Demand chart for the pre-owned Phenom 300 and Citation CJ4. The current pre-owned market for these aircraft shows a total of 15 aircraft ‘For Sale’ with seven displaying an asking price, thus we have plotted those seven jets. We also added to the mix other preowned light business jets and other business jets with asking prices ranging from $6.8mAircraft Index see Page 4

AirCompAnalysis A_ACAn 21/01/2015 11:32 Page 5

AIRCRAFT COMPARATIVE ❚ FLIGHT DEPARTMENT

Chart E - Value & Demand The Market for Used Phenom 300s Compared to Numerous Other Used Models with Similar Attributes The Market for Used Phenom 300s, (Blue Spheres) & Other Used Aircraft

$9.8M

$5.6M $4.2M $2.8M

$1.4 M

Chart F - Productivity $20.0 $16.0 $12.0

Citation CJ4

$8.0

1. Range with full payload and available fuel; 2. The long range cruise speed flown to achieve that range; 3. The cabin volume available for passengers and amenities. The result is a very large number so for the purpose of charting, each result is divided by one billion. The examples Advertising Enquiries see Page 8

Phenom 300

$4.0 $0.0 0.0000

0.1000

Productivity Comparisons

The points in Chart F (right) are centered on the same group of aircraft. Pricing used in the vertical axis is as published in the Aircraft Bluebook. 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:

Asking Prices

$8.4M $7.0M

Price (Millions)

$9.315m. The equation that we derived from these asking prices and other criteria used should enable sellers and buyers to compare and perhaps adjust their offerings if necessary. Demand and Value are on opposite sides of the same Price axis. The Demand Equation for these business jets is Price $M = 11.8*Qty-0.136. This power equation is very well correlated, with an adjusted R2 of 99.4%, and a P-Value of 2.16E-04. The Power Equation describing the Value Equation is Asking Price = 183.4 * Years -0.300 * Passenger Capacity 1.17 * Range 0.648 * Cabin Height 2.29. We find that the Value Equation for these aircraft is only fairly well correlated, with an Adjusted R2 of 74.2%. However, each of the contributing variables is highly influential, with P-Values of 2.50E-09, 6.09E-04, 3.03E-04 and 4.66E04 for Years, Passenger Capacity, Range and Cabin Height, respectively. Thus, the market for used Phenom 300s responds to at least six features: Years, Passenger Capacity, Range, Cabin Height, Price and Quantity.

0.2000

0.3000

0.4000

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

plotted are confined to the aircraft in this study. A computed curve fit on this plot would not be very tight, but when all business jets are considered the “r” squared factor would equal a number above 0.9. Others may choose different parameters, but serious business aircraft buyers are usually impressed with Price, Range, Speed and Cabin Size. After consideration of the Price, Range, Speed and Cabin Size, we can conclude that the Phenom 300, as shown in the productivity index Chart F, is productive compared with its competitor - largely due to the fact that the Phenom 300 offers a larger cabin and lower operat-

ing costs including a 30 GPH (16%) average fuel burn savings. Although the Phenom 300 ‘Available Payload with Maximum Fuel’ - at 942 lbs is lower compared to the Citation CJ4, the purchase price is lower than that of the CJ4 aircraft. Ultimately, operators should weigh up their mission requirements precisely when picking which option is the best for them.

Summary

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

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There are other qualities such as airport performance, terminal area performance, and time to climb performance that might factor in a buying decision, too, however. The Embraer Phenom 300 continues to be very popular in the new and pre-owned market today. Those operators in the market should find the preceding comparison of value. Our expectations are that the Embraer Phenom 300 aircraft, which started delivering at the end of 2009, will continue to do very well in the new and pre-owned markets for the foreseeable future.❚ February 2015 – AVBUYER MAGAZINE

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Case Study new_Layout 1 21/01/2015 10:51 Page 1

BOARDROOM ❚ CASE STUDY

Brad Pierce, President, Restaurant Equipment World

The Main Ingredient: Restaurant Equipment Supplier’s Flexibility Down to Business Aviation. “The ability to meet in person with the customer is where the relationship flourishes,” notes Orlando-based business owner Brad Pierce. “Our business would not be what it is today without the use of a general aviation aircraft.” Rani Singh discovers more…

B Rani Singh writes about aviation. A sought after Journalist and author she also reports on news, foreign affairs, politics and business with the world’s largest news organization.

102

rad Pierce is president of Restaurant Equipment World and finds private aviation simply essential to his work. “The company airplane is worth every penny, now more than ever. We are going out there and grabbing our slice of the pie, not just waiting for someone to serve it to us,” he outlines. “When I look at where our sales are coming from in this economy, aviation has been the key. Yes, I love flying the airplane [Pierce is a pilot and flies himself around], but at the end of the day, it's a tool just like a forklift. My airplane allows me to conduct business literally at the speed of flight.” When he began flying his own aircraft on

AVBUYER MAGAZINE – February 2015

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business, the plan was to use it for travel throughout the Southeast and mostly within Florida, but today Pierce travels most places Stateside via Business Aviation.

Cost Advantages “I had a rather taxing schedule throughout October with various meetings, trade events, and visits to end-user facilities spread throughout 17 states, all within a three-week period,” Pierce elaborates. “The most fascinating part of this was looking at it from a cost standpoint. My projected airline cost was actually $1,100 more than the raw operating cost for flying myself.” Aircraft Index see Page 4

Case Study_Layout 1 21/01/2015 10:38 Page 2

CASE STUDY ❚ BOARDROOM

Of course, there are other tangible benefits besides the cost-savings. “I also have numerous examples of quantifiable business I have been able to capture thanks to using my own aircraft. I could have got some of it without the airplane, but it would have taken longer and I would not have been able to address client needs as quickly without it. “There would have been several missed opportunities.”

Business Opportunities Pierce’s airplane allows him to adjust his schedule to suit: For example, two of his conferences during the October trip were in Las Vegas, and in between he had about a day of his own time… “I hopped in the airplane and flew to San Diego to spend the morning visiting with a client. I flew back to Vegas that afternoon, and walked into my next conference about 10 minutes before it started. I turned time that would have probably been spent in my hotel room - had I flown on the airlines - into productive time.” Pierce had been able to travel within Florida much more easily and quickly than he could with the airlines, but the true benefits of utilizing Business Aviation really became clear to him while flying home from Duluth one time. “I had actually only flown outside Florida once before then... Factoring in the two airline changes necessary to connect Duluth and Orlando, our flight actually took four hours less than traveling commercially.” That initial insight led Pierce to inch a little further away from home for his next business trip, then a little further after that. Something would come up in Texas, and it made more sense to fly himself there instead of using the airlines. Before he knew it, he had flown to 20 different states, and along the way had changed his mentality as to how he did business. “Something would come up elsewhere, and I would naturally look for additional prospect opportunities along the way,” Pierce reveals. “Or I’d find time for customer retention visits that would then add even more value to a particular trip. “As one example, during a recent trip to Denver I had an ‘extra day’ on my schedule before I had to be in San Francisco. That doesn't happen often! So, I used that time to fly to Utah and visit with a vendor there who'd wanted me to come out for years. We had always maintained a successful partnership, but that visit allowed me to further build on that relationship and, in the process, learn all the ins-and-outs about [their product]. I would not have been able to take advantage of that time had the realization come from seat 24A on an airline flight.”

trips, but the biggest factor for me to consider is the difference in speed. My average “hop” is right around two to three hours, and covering the same distance in a jet would in some cases take around 90 minutes. That puts me on the ground at least 30 minutes sooner to send off emails or conduct business. “I tend to focus on finding new ways to improve efficiencies in my life. The ability to move at faster speeds in a jet would be most welcome. It would also allow greater opportunities for lastminute trips to destinations much farther away than I can presently accomplish. Of course, any progression to faster and more advanced equipment means that I also need to progress as a pilot to maintain proficiency. That's an area I believe NBAA has done a lot of excellent work in, through programs like its annual single-pilot safety standdown.” Based at Orlando Executive Airport (ORL), Pierce flies into large and small airports. One of the greatest benefits to operating any business aircraft is the ability to utilize the smaller fields. “My personal minimum for runway length is 4,000 feet,” he outlines. “I can land comfortably in less than half that, but I like having the cushion. If I have something as simple and benign as a blown tire on rollout, I would much rather roll to the end of a concrete strip than into the grass, where I might also then be facing additional damage or a rebuilt engine. I haven't found a place yet where it presented a problem as far as access to where I needed to go. “There may be ‘greater’ pilots able to defy the laws of gravity better than I can, and more power to them - but I'm very comfortable with erring on the side of caution, particularly when operating in the IFR environment.”

“I tend to focus on finding new ways to improve efficiencies in my life.”

With thanks to Dan Hubbard, NBAA (www.nbaa.org). Find out more about Brad’s business at www.rewonline.com ❚ Are you looking for more Business Aviation & The Boardroom articles? Visit www.avbuyer.com/articles-guides/ business-aviation-and-the-boardroom

Agility and Scaling Up Pierce uses fairly small aircraft. “Now, a jet wouldn't necessarily offer benefits on some of my Advertising Enquiries see Page 8

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BG 2 Feb15_Layout 1 21/01/2015 10:30 Page 1

BOARDROOM ❚ OWNERSHIP

Cash, Finance or Lease: How Should you Obtain your Next Airplane? While lending institutions are restoring practices popular before the financial meltdown, even with multi-million dollar transactions cash still remains king, notes David Wyndham in this primer on financing basics.

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

104

et us take a quick look at the state of financing for business aircraft as 2015 dawned. The post-recession return to equity-based lending and the concurrent need for borrowers to provide more detailed financial disclosure, kept financing at about 25% of US retail business jet transactions through the end of last year. Twelve-month LIBOR rates have been prime subone percent since September 2012. The latest Federal Reserve Board (October 2014) Senior Loan Officer Opinion Survey on Bank Lending Practices indicated that 10% of large banks eased their standards for commercial and industrial loans to firms of

AVBUYER MAGAZINE – February 2015

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all sizes, with no one tightening loan standards. Banks are stabilizing their balance sheet. For companies with excellent credit, borrowing money isn't free, but for a profitable corporation, it is very close. A big advantage of paying cash for an aircraft transaction is the speed at which the transaction can occur. The immediacy of the cash deal can secure the best pricing as there are no financing contingencies. There is also no debt to disclose on the balance sheet. The cash deal attracts the least amount of external attention as it keeps everything between the buyer and seller. For a company with sufficient liquidity and a Board that is averse to debt, the cash deal is the only deal. Aircraft Index see Page 4

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BOARDROOM ❚ OWNERSHIP

Other Uses of Cash Financing a multi-million dollar business jet can allow the cash to be used for investing in opportunities that are understood by you, but may appear to have a higher risk for the lender. Traditional asset-based lending for a new or recent vintage business jet currently offers interest rates in the 34% range. Residual values of newer business jet models have stabilized and remain at higher percentages than most other capital equipment. Generally, getting the best finance terms require down payments of 20%. For a popular business jet, this covers the residual-value risk to the lender. Leases have advantages for companies that know their utilization will remain stable and are intent on retaining the aircraft for the full term of the lease. A lease can also be a viable option if your company does not need the tax depreciation. With an operating lease, at lease end you can purchase the aircraft at fair market value or return the aircraft and walk away. Some leases have early buyout options. A lease can be financially a good alternative but with two major caveats: • •

Leases can be more restrictive on aircraft utilization Getting out of a lease early is costly.

The lessor, in assuming the residual value risk, wants to maintain the aircraft’s value. An aircraft with lower utilization (i.e., flight hours) will have a higher resale value versus one with higher total flight time. End-of-lease detriment calculations look at the total time flown and the time remaining until heavy maintenance on the major cost components. Flying more than anticipated in the lease agreement can result in a costly expense when the lease ends. Make sure your team understands the end-of-lease terms especially as they relate to aircraft condition and utilization. Banks love it when customers want to exit their lease early. Even early buyout options may not be that advantageous if the financing agreement calls for high residual percentages. One client we have wants to upgrade their leased midsize jet to a larger jet. If exercising the early buyout option on their midsize jet, they will pay the bank about 50% more than the current market value of the aircraft.

Net Present Value When we are working with a client evaluating business aircraft options, one part of the analysis is to look at Net Present Value (NPV), which considers income that could be generated from investing the lease payments when they come due. The NPV analysis evaluates both the timing and the magnitude of the cash flow as well as prevailing interest rates. With a business jet, there is no revenue-generation save for the eventual sale of the asset. So, while the business jet acquisition NPV is almost 106

AVBUYER MAGAZINE – February 2015

always negative, we look to the NPV to identify what cash flows are most favorable to the buyer. With internal rates of return that are greater than the financing terms, and allowing for the tax depreciation of the aircraft, the NPV favors the finance option over the lease for most of our corporate clients. The higher the internal rate (i.e., hurdle rate), the more favorable financing becomes. Balloon payments can enhance the finance NPV versus the cash purchase. These options tend to be available for new aircraft and for popular preowned models that are nearly new. Lease NPVs tend to be favored when there is little or no tax depreciation benefit, or when the term is very short – i.e., under five years. With any ownership option, you are taking a responsibility for the future value of the asset. The provider of a traditional loan shares that responsibility during the loan term. At loan end, you need to decide whether to sell or trade the aircraft, or continue with that aircraft. For a six-year-plus loan, you are likely finished with any tax depreciation and no longer have the interest expense. From an NPV perspective, you have maximized the value of the loan. ❚

“ ...we look to the NPV to identify what cash flows are most favorable to the buyer.”

Are you looking for more Business Aviation & The Boardroom articles? Visit www.avbuyer.com/ articles-guides/business-aviation-and-theboardroom

View the latest prices for jets for sale at www.AVBUYER.com

Aircraft Index see Page 4

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BOARDROOM ❚ OWNERSHIP

Flight Department Liquidation - A Case Study What happens when circumstances call for closing a flight department and liquidating its aviation assets? Citing his recent dealings with a client, Jay Mesinger discusses the best actions.

T Jay Mesinger is the CEO and Founder of Mesinger Jet Sales. Jay serves on the Jet Aviation Customer and Airbus Corporate Jets Business Aviation Advisory Boards (BAAB). Contact Jay at jay@jetsales.com

108

he year ahead will certainly bring increased aircraft buying and selling activity. Some activities will be spurred on by healthy reasons and some, as always, by pressing needs of owners to sell. We have been speaking throughout the past year about determining the right time to begin the process of buying and/or transitioning during what looks like a recovery period in our industry. We should now consider when change is caused by less than favorable circumstances. A sudden shift in fortunes or a pressing financial need might dramatically alter the timeline for selling the company aircraft. Such urgency removes flexibility from the process of selling based on an orderly transition. Although I anticipate fewer transactions in 2015 will be “bail-out” situations, the need to sell based on financial reasons can be

AVBUYER MAGAZINE – February 2015

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more complicated and problematic for the Board. Thus I will share a real-life case study. To maintain privacy and because the specific operator and aircraft type are relatively unimportant to this story, I will focus on the circumstances of the situation and the actions taken to accomplish this sale. Simply stated, the firm discussed is a privately held, US-based corporation that had operated a private jet for over 10 years and had a wellestablished flight department. Consider the steps that led up to the discussion to sell the aircraft: First and foremost, the company and its Board started to see a decline in overall business revenues and revenue sources. The overall health of the company was not critical, but quick actions to reduce costs were a major priority of management as well as the Board. The benefits of the aircraft to the bottom line were not questioned. Aircraft Index see Page 4

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BOARDROOM ❚ OWNERSHIP

WHERE DO YOU EVEN BEGIN TO DECONSTRUCT A FLIGHT DEPARTMENT?

The 10 years of operating the flight department had all been positive and had contributed to building the company’s business. In this case, however, management felt a shift in market dynamics as well as product penetration had precipitated the need. Based upon these changes, the aircraft no longer served the company’s needs. Shifting to a different aircraft type was not a likely solution, considering the realization that costs must be reduced—hence the decision to sell rather than transition.

Tough Decision It is never easy to release employees and cut staff. These flight department personnel had been loyal and trusted employees, in some cases since day one of the flight department. Of course there was an annual flight department budget that guided the operation, and in this case there was also a budget created to liquidate the department. The first questions that need to be addressed were, ‘do you keep the operation going until you sell the company aircraft, or do you decide to shut down operations prior to a sale?’ Different companies handle that issue with different priorities. In this case the decision was made to keep one maintenance flight department person employed while releasing the pilots and the scheduling personnel at once. Of course severances had to be determined and budgeted. The next budget item to consider was the hangar lease. Also, insurance policies had to be reviewed and costs associated with those early terminations had to be determined and added to the budget. Costs that were not covered by contract were easy to determine. Simply put—no flying, no cost. Supplies and parts on hand had to be valued, and the method of disposal had to be considered.

Next Question What was the aircraft worth in the prevailing market? Since it was no longer going to be used and the time required to affect a sale was important, what was the right pricing? Finding the best balance between a fast sale and a good price is always problematic, particularly in today’s market. The company did not want to send out distress signals, but it did want buyers to know it was a serious seller. Having a knowledgeable aircraft professional that the seller could trust was critical to the success of this liquidation. Building the marketing materials that spoke to the quality of the asset rather than the particular circumstances of the company, and also pricing the aircraft correctly, was a tricky balance. I was privileged to be chosen to be that professional, and we went to work reviewing the market. We examined the category being sold and looked carefully at other aircraft, some larger and some smaller, so as to speak to value of the entire market space. In the end of our process, the correct balance for 110

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“...our solution generated cash quickly and provided a good return.”

this project was established. The department personnel were given good severance packages, and the parts and shop equipment were disposed of at what was considered a fair and reasonable value. A buyer was found for all the physical assets of the department. The total package price may have been for a lesser amount than if items were sold separately, but when one considered the time and cost of selling each item individually, our solution generated cash quickly and provided a good return. The hangar lease was negotiated for a fair price, and all parties came away from that process pleased with the outcome. The aircraft was sold within four months, two less than the time budgeted to liquidate the company’s aviation assets. Though this topic may not be the most favorable of articles I have written, the story it relates is one of the realities of our industry. If your employees are involved in this kind of situation, my advice to them is to be a positive part of the process. We have a very small industry and the way your employees are perceived to participate will result in good references and shorter time without a flight department employer. ❚ Are you looking for more Business Aviation & The Boardroom articles? Visit www.avbuyer.com/ articles-guides/business-aviation-and-theboardroom

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Aircraft Index see Page 4

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BOARDROOM ❚ INSURANCE

The Better Aviation Insurance Deal: Is it Really Such a Good Deal?

Searching for a better aviation insurance deal is wise, but getting a legitimate apples-to-apples quote is exceedingly difficult, cautions Stuart Hope.

Stuart Hope, co-owner of Hope Aviation, is a licensed Airline Transport Pilot and a frequent NBAA speaker and industry authority on insurance and risk management topics. Contact him via shope@hopeaviation.com

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nless you are a very savvy and educated insurance buyer, you may save a few dollars only to discover after an accident you’ve lost far, far more! Consider the following case: Last year I wrote the insurance for a first time buyer of a Citation model. The owner was a prominent medical professional in his community and hired a professional pilot to fly the aircraft. Recently, when the policy was due for renewal, the owner called and told me (almost with glee) that he had my premium from last year beaten and would be moving his coverage unless I could match the quote he’d just received! It never ceases to amaze me that aircraft owners will drop literally hundreds of thousands of dollars into maintenance on their aircraft with nary a blink of an eye, yet they will try to save money on the most critical aspects of aircraft

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ownership, such as pilot training and insurance. Aircraft owners are smart people. Why would they jeopardize their personal and financial safety to save a few dollars? My personal opinion: maintenance bills on aircraft seem really high, the breakdown is complicated and relatively new owners have very little (if any) experience shopping for maintenance on an aircraft. On the other hand, they routinely have shopped for the best deal for their car or homeowner insurance. They reason that aviation insurance can’t be much different. Insurance is insurance, right? It’s a commodity. *Alarm sounds! Pull up! Pull up!*

Devilish Details I asked the aircraft owner, “Because all aviation insurance policies are different, are you sure you are getting an apples-to-apples quote?” Aircraft insurance applications are not standard issue ISO forms that ! Aircraft Index see Page 4

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BOARDROOM ❚ INSURANCE

can be compared easily. Every aviation insurance contract is unique, and some policies are much broader than others. Certain insurers play hardball on claims, others always look for a way to pay. Whether a claim was paid or denied has literally come down to one word in a contract (consider the Alberto-Culver vs AON situation) and even a missing comma (as in BP Oil vs TransOcean). With pride, the owner replied, “All the coverage limits in my new quote are exactly the same as last year, so I have done my homework”. Not so fast, I responded. The words in the contract are what control whether those limits will ever apply. The fact that limits are the same is somewhat meaningless if the policy allows the claim to be denied. I asked the owner, “Do you remember all the questions I asked you when we first placed coverage on your aircraft—about the ownership structure, how you were going to use the aircraft, who would reimburse you for the use of the aircraft, exactly what training the pilot would receive and how often, and what contracts would be entered into relative to the aircraft?” He did, and I explained the reason I asked all of those questions. After we discussed coverage limits and pricing with the underwriter, we negotiated the wording of the Named Insured clause, Pilot clause, Usage clause, and Contractual liability. In addition, we requested the removal of exclusionary wording where appropriate. Finally, I asked the owner if the competing broker who provided the “winning quote” had taken the 114

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“The fact that limits are the same is somewhat meaningless if the policy allows the claim to be denied.”

time to ask all the same questions we had covered the previous year. He conceded that they hadn’t, but he would be happy to send me the competing quote so that I could see if it covered the appropriate items or excluded anything we were insuring for him now. At this point, I was honestly floored.

Broker’s Burden; Buyer’s Responsibility I told the owner that exploring all the details was, in fairness, the job of the broker who provided the competing quote. I also said it made sense for the buyer to ascertain that the quote was apples-to-apples, and I cautioned that the buyer could not be sure if the other broker had not asked numerous questions about his operation. To that exchange he responded, “I don’t know anything about this insurance. I will have my pilot call you to handle it”. In the end, the price difference between my quote last year and the competing offer this year was $875, and the insured moved his business to the low bidder. The Business Aviation community has very few aviation accidents. Therefore, the only way an owner will find out if his aviation insurance program is full of holes is to have a loss. As Warren Buffett stated, “You never know who’s swimming naked until the tide goes out”. The same reality applies to aircraft owners. ❚ Are you looking for more Business Aviation & The Boardroom articles? Visit www.avbuyer.com/ articles-guides/business-aviation-and-the-boardroom

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Aircraft Index see Page 4

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BOARDROOM ❚ TAX

Chartering your Company Aircraft: Have you considered the Tax Issues? What should owners know about placing their business aircraft on a management company’s charter certificate? Keith Swirsky opens a three-part discussion series…

Keith Swirsky is president of GKG Law, P.C., and Chairman of the firm’s corporate aircraft and tax groups. A founding member of NBAA’s Tax Committee, he is a regular speaker at tax conferences. Email kswirsky@gkglaw.com

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n an arrangement that can offer mutual benefits, many company aircraft are managed by charter operators that are certified by the Federal Aviation Administration to offer flights for hire. The aircraft owner receives income from the management company, which in turn has access to an additional aircraft for its charter service. What appears to be a relatively straight forward business arrangement is in fact a sophisticated contract with considerable tax implications. Frequently, the management company will present the owner with financial projections in a simple equation indicating that, if the owner al-

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lows the management company to charter the aircraft to third parties, the owner will net a substantial profit over its direct operating costs. Whether or not such a profit is likely to be realized is not the subject matter of this article. Rather, this article will address the various tax implications associated with the decision to allow the management company to charter the aircraft to third-parties. The tax considerations fall into two primary areas: • •

State sales and use tax, and Federal income tax. Aircraft Index see Page 4

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TAX ❚ BOARDROOM

“...problems arise when the document provided by the management company is not referred to as a ‘Lease Agreement’...” The decision to add an aircraft to a management company’s charter certificate implicates certain limited federal excise considerations that we will also address in this series of articles.

State Sales & Use Taxes When purchasing an aircraft it is a common misconception that one must focus solely on either the state of formation of the entity acquiring the aircraft, or the physical location of the aircraft on the date of delivery, to determine potential sales and use tax liability associated with the aircraft. Although it is true that the state of formation of the entity owning the aircraft and/or the physical Advertising Enquiries see Page 8

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location of the aircraft on the date of closing may have sales tax consequences, ultimately state use tax considerations (meaning where the aircraft will be ‘used and consumed’) drive the aircraft planning and structuring. The most likely state where the aircraft will be used and consumed is the state where the aircraft is hangared. In other words, if the aircraft is acquired in State ‘X’ and qualifies for a State X exemption from sales tax, such as a flyaway exemption, but the aircraft is thereafter moved to State ‘Y’, where it is hangared, State Y’s use tax laws will drive the aircraft ownership and operations planning. When an aircraft is externally managed and placed on a management company’s charter certificate, the mechanism for transferring possession of the aircraft to the management company for its use in third party charter activities is known as a lease. The title of the document should be irrelevant, as it is necessary to transfer possessory rights in the aircraft to the management company in order to allow the aircraft to be chartered to the public. However, problems arise when the document provided by the management company is not referred to as a ‘Lease Agreement’ because many states may not treat the transaction as a lease of the aircraft from the owner to the management company if the document does not clearly appear to be a lease agreement. It is generally true that titling the document as a lease agreement and providing traditional lease terms (such as, most importantly, an hourly rent) will have the most desirable result from a state use tax perspective. In connection with entering into a lease agreement, the entity owning the aircraft should obtain a state sales and use tax permit (i.e., a sales tax vendor registration). This permit allows the aircraft owning entity to acquire the aircraft and assert that its acquisition is solely for the purpose of ‘resale’.

Buying to Sell/Lease A purchase for the purpose of resale is generally an exempt purchase. In other words, if the aircraft owning entity is acquiring an aircraft solely for the purpose of resale, it is generally entitled to claim a use tax exemption in the state where it is hangaring the aircraft, and therefore avoid tax on the purchase price of the aircraft. This result, of course, requires that the aircraft owning entity make no other use of the aircraft for its own purposes other than to hold the aircraft solely for leasing purposes. This is a critical provision because in many states, any use that is inconsistent with holding the aircraft for leasing purposes (such as a single flight for personal use) can void the exemption and cause the full value of the aircraft to be subject to state use tax. Of significant importance in this regard, if the aircraft owning entity enters into a ‘management services agreement’ with the external management company, that document would imply that the ! February 2015 – AVBUYER MAGAZINE

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BOARDROOM ❚ TAX

entity owning the aircraft is ‘using’ the aircraft for its own purposes, thereby undermining the use tax exemption on the purchase price of the aircraft. To further illustrate this concept, in most states, when an aircraft is acquired for lease to a management company for use in third party charter, the rent paid by the management company is exempt from use tax. There are notable exceptions to this general rule, such as in Florida, where rent paid by a charter operator is generally not exempt from sales and use tax. However, Florida and other states, such as Texas, may reach a conclusion that the transaction between the aircraft owner and the management company is not a lease transaction, when the document is not referred to as a lease agreement and when an hourly ‘rent’ is not paid by the management company to the owner. More specifically, when the lease agreement provides that the management company will credit the owner with all of the charter revenue, less a sales commission, and debit the owner with all the various operating expenses associated with the charter flight, states such as Florida and Texas may reach a conclusion that the transaction is not a lease transaction and is in essence a ‘joint venture’ with a common profit objective. Such an interpretation would lead a state to conclude that the aircraft owning entity ‘used’ its own aircraft in connection with the joint venture activities, thereby causing the full value of the aircraft to be subject to state use tax (the full value, in these circumstances, would either be the original purchase 118

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“It is paramount that the relevant contracting parties enter into the management company documentation.”

price or the fair market value, depending on the law of the state and the specific facts and circumstances). In circumstances where a ‘lease agreement’ is prepared, with a specific hourly or monthly net rental payment, the state is more likely to reach the conclusion that the parties entered into an actual lease of the aircraft to the charter company instead of a joint venture. It is paramount that the relevant contracting parties enter into the management company documentation, as the sales and use tax consequences are directly driven by the identity of such parties and by the terms and provisions as well as the titles, of such documents. It is also clear that there is significant opportunity for sales and use tax minimization with properly planned and documented agreements with an external management company. Additionally, there is a huge potential for creating unnecessary sales and use tax liability with improperly prepared documentation. ❚ Are you looking for more Business Aviation & The Boardroom articles? Visit www.avbuyer.com/articles-guides/ business-aviation-and-the-boardroom

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BIZAV REVIEW ❚ COMMUNITY NEWS

A New Flagship Rolls-Out: Dassault Falcon 8X Takes a Bow Dassault Aviation rolled-out its new flagship Falcon 8X in a high profile event at its Bordeaux facility in December. Rod Simpson witnessed the occasion.

Rod Simpson is an experienced journalist and aircraft historian who specialises in Business Aviation. He is the author of more than a dozen aviation books and has worked as a consultant in the US General Aviation industry and contributed to many journals on both sides of the Atlantic. Contact him via rod@aeroplan.freeserve. co.uk Advertising Enquiries see Page 8

rom the outside there appears to be little difference between the Falcon 7X and the 8X, but beneath the skin a great deal of careful engineering has taken place. For a start, the fuselage is 3ft 6ins longer with two extra sections added to the forward and aft fuselage. There are two extra pairs of cabin windows, although the internal layout of the galley and restroom may reduce this to 15 on some aircraft. Remarkably, Dassault’s engineers achieved this with no increase in the Zero Fuel Weight or the Maximum Landing Weight - and only a 3,000lbs increase in MTOW, thanks to careful paring of the aircraft’s wing structure. As Frederic Pettit, Dassault’s VP, Falcon Programs told AvBuyer, “We’ve been able to make weight reductions of 600lbs in the wing by achieving tiny reductions in the gauge of materials and by redesigning individual components to deliver strength with less weight. “In addition, we’ve made changes to the aerodynamic shaping of the wing to optimize the www.AVBUYER.com

profile and achieve a more favorable lift/drag ratio, redesigned the winglets and made changes to strengthen the undercarriage.”

Head of the Table The new aircraft takes the Dassault business jet lineup to five models (Falcon 8X, 7X, 900LX, 2000LXS and 2000S), rising to six when the Falcon 5X appears. The Falcon 8X, which assumes lead position in the product line-up ahead of the Falcon 7X essentially offers customers more space, range and performance without sacrificing the fuel efficiency of the 7X. Announced in May 2014, work has moved rapidly. The aircraft will take to the air early in 2015 and Dassault expects to achieve certification in mid2016. Dassault Falcon Jet President & CEO, John Rosanvallon explained to AvBuyer, “Our customer advisory panel said to us that the Falcon 7X is a great aircraft but a bit more range would be welcome. They wanted a longer cabin to give more flexibility, particularly for the crew rest area. So, that February 2015 – AVBUYER MAGAZINE

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COMMUNITY NEWS ❚ BIZAV REVIEW

OEM Bites AgustaWestland’s new generation AW169 has entered full scale production, with the first aircraft now on the final assembly line at its Vergiate facility in Italy. Customer deliveries should start in 2Q. www.agustawestland.com Bombardier has received a firm order for six Learjet 75 business jets with options for three from an undisclosed customer. The transaction for the firm aircraft is valued at approximately US$83m. If all options are exercised, the value is approximately US$124m. www.businessaircraft.bombardier.com is what we’ve achieved with the 8X.” The Falcon 8X flies 500nm further than the 7X and is capable of 6,450nm carrying eight with three crew at Mach 0.8 (Mmo is 0.9). This allows the Falcon 8X to connect Paris to Tokyo, Los Angeles or Cape Town. The improvement is due to additional fuel contained in the center fuel tank aft of the wing. Fitted with three PW307D turbofans offering 5% more thrust than the PW307As on the Falcon 7X, Dassault says the Falcon 8X will have a 20% lower direct operating cost compared with the Gulfstream G550 and 35% less than a Global 6000. “This will save the 8X operator up to $5m in operating costs over six years,” Petitt projects, adding that the time between maintenance checks is being extended to 12 months which will reduce downtime and save expense.

Back Office Comfort Passengers could be travelling legs of up to 14 hours on the Falcon 8X, so cabin comfort is critical. The forward cabin between the flight deck and the main passenger cabin can be configured in three possible lengths, the longest of which has a larger galley to give greater storage with a more flexible food preparation area and also has a crew rest cabin on the portside with a lie-flat berth to give quality relaxation to the flight crew member on stand-down. In the main cabin, many seating layouts are possible but most aircraft will seat 14 passengers in three zones: Typically, the forward zone will have four facing club seats; the middle zone will be arranged as a four-place dining/meeting section with a retractable table and a side credenza; and the aft cabin with access to the restroom (shower optional) will have a pair of facing 122

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divans each with three seats. Up to 32 large windows allowing plenty of light, and the FalconCabin HD+ cabin management system will add to productivity and comfort levels. Dassault’s recently-opened design centers at Le Bourget and Teterboro, NJ will offer multiple features for customer selection, including fabrics and leathers for the seats and soft furnishings, galley and restroom options, the entertainment and connectivity facilities - and even the glassware and china to stock the galley.

Front Office Efficiency For the flight crew, the Falcon 8X has Dassault’s EASy III flight deck incorporating a “wide-screen” head-up display which displays Dassault’s CVS (combining synthetic vision and enhanced vision systems). At present there’s a single HUD on the captain’s side, but the aircraft will be available with one on the right soon. Honeywell’s RDR-4000 next generation 3D weather radar with enhanced turbulence detection capability is incorporated, and both pilots have sidestick controls. Because of the numerous changes to the airframe, the 8X will require new certification with a 500 hour flight test program. Three development aircraft will be used, one fully-furnished and used for function and reliability testing. Production of the aircraft is sold out until 2018 and new orders will carry a $58m price (compared with the $52m Falcon 7X). Eric Trappier, Chairman and CEO of Dassault Aviation summarized, “The 8X is an example of what Dassault does best. It’s a salute to the company’s forward-thinking and a tribute to our employees who share a passion for Dassault products.” www.falconjet.com ❚ www.AVBUYER.com

Cessna’s M2 has reached Europe. Atlas Air Service delivered the first European M2 to müller co-ax ag from Forchtenberg in Baden-Württemberg. The business jet landed at Bremen Airport after its transfer flight from Independence, Kansas (USA). www.atlasair.com or www.cessna.com Cirrus’s third and final conforming Cirrus SF50 Vision single-engine jet - ‘C2’ completed its first flight, moving the program toward certification and first delivery by late 2015. “C2 flew as predicted and initial handling qualities were confirmed,” said Mike Stevens, director of engineering flight test. www.cirrusaircraft.com Embraer Executive Jets and NetJets, have signed an agreement to convert 10 Signature Series Phenom 300 purchase options into firm orders. At current list prices, this addition to the contract is worth US$89.55m. www.embraerexecutivejets.com Gulfstream has received approval from FAA to install ADS-B Out on G150 aircraft. ADS-B Out will be required to fly in US and European airspace by January and June 2020, respectively. www.gulfstream.com ❚

Aircraft Index see Page 4

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BIZAV REVIEW ❚ COMMUNITY NEWS

Grant Kennedy

Mark Knall

William Ayer, a long-time pilot and industry leader, was named to the NBAA board of directors. Ayer, former CEO and chairman of Alaska Airlines, is on the board of directors for Honeywell and is a member of FAA’s Management Advisory Council. David Davenport, has been promoted to

Executive Vice President, Commercial, on behalf of FlightSafety International.

Luigi J. Grijalva, joins Jetex Flight Support as corporate account manager. Grijalva is based in the company's new Miami offices. Edwin Kelly, has been appointed the new director of the Department of Civil Aviation (DCA) of Aruba. Grant Kennedy, was recently appointed by Gulfstream as sales director, North

American Sales, Eastern Division. His territory includes New England, New York (excluding metro New York City) and in Canada, Quebec and the Maritime provinces.

Clinton Kent, has been promoted to the position of vice president of sales and

Christof Spath

Robert Stangarone

customer service at StandardAero’s component business unit.

Mark Knall, has been named vice president and general manager of Gulfstream’s facility in Appleton, Wisconsin. Martin Leroux, joined Innotech Aviation

Greg Wedding

Mark Van Tine, CEO of Jeppesen and

vice president of digital aviation for Boeing, joined the Experimental Aircraft Association’s board of directors. A longtime EAA member and Young Eagles pilot, Van Tine is serving a one-year renewable term on the board.

as regional sales manager for aircraft maintenance and cabin interior business. He was formerly with Bombardier.

Michael Volpe, is the new regional sales manager for the Eastern United States and Eastern Canada for ARGUS International.

Danny Robayo, FlightSafety International

Greg Wedding, was hired by Leading Edge Aviation Solutions as executive vice

promoted Robayo to manager of its learning center in Teterboro, NJ. A 23year employee, Robayo, most recently served as the center’s assistant manager.

Christof Spath, was appointed CEO of TAG Aviation Europe. Spath has held sen-

ior management positions at SR Technics, Jet Aviation, RUAG Aerospace, General Electric and BMW Rolls-Royce.

Robert Stangarone, former vice president corporate communications at Embraer in North America, has formed a business consultancy group that aims to assist international clients specializing in aviation, aerospace, defense and air travel.

president, Business Development. In this position Wedding will utilize his many years of aviation experience and his unique expertise to further develop Leading Edge Aviation’s various business sectors which include aircraft acquisitions and dispositions, aviation consulting, aircraft completions management and prepurchase inspection and maintenance oversight. Greg has previously been with FlightSafety International.

Eric Wildt, has been promoted to marketing director for Solairus Aviation, the

charter company with offices throughout the US. Wildt is based at the company's headquarters in Petaluma, California.

BizAv Events 2015 NBAA: Business A/C Finance Conf. HAI HELI-EXPO Women in Aviation Conference GSE Expo Worldwide Business Airport World Expo Business Jet Interiors NBAA: International Operators Conference NAFA: Conf. & Aircraft Education Seminar European Corporate Aviation Summit AEA (Aircraft Electronics Association Con) ABACE: Asian Bus. Aviation Conf & Exh. Aircraft Interiors Europe NARA; Spring Meeting AEA (Aircraft Electronics Association Regional) NBAA: Maintenance Management Conf. NBAA: Business Aviation Taxes Seminar Aviation Africa 2015

Mar 1 – 3 Mar 3 – 5 Mar 5 – 7 Mar 10 – 11 Mar 18 – 19 Mar 18 – 19 Mar 23 – 27 Mar 24 – 27 Mar 25 Apr 8 - 11 Apr 14 – 16 Apr 14 – 16 Apr 29 May 4 - 6 May 5 – 7 May 8 May 10 – 11

Bonita Springs, FL, USA Orlando, USA Dallas, TX, USA Las Vegas, NV, USA Farborough Airport, UK Farborough Airport, UK San Antonio, TX, USA Scottsdale, AZ, USA London, UK Dallas, TX, USA Shanghai, China Hamburg, Germany Savannah, GA, USA Barcelona, Spain Portland, OR, USA Dallas, TX, USA Dubai, UAE

www.nbaa.org www.heliexpo.rotor.org www.wai.org www.gseexpo.com www.businessairportworldexpo.com www.businessairportworldexpo.com www.nbaa.org www.nafa.aero www.aeropodium.com www.aea.net www.nbaa.org www.reedexpo.com www.naraaircraft.com www.aea.net www.nbaa.org www.nbaa.org www.aviationAfrica.aero

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Asian Sky Group (ASG) announced a strong finish in the fourth quarter of 2014. During the last quarter, ASG has completed the sale of three (3) business aircraft – two (2) Bombardier Global XRS and one (1) Gulfstream G450. All three (3) aircraft were from Greater China, where one of the Bombardier Globals went to the U.S., one stayed in Greater China, and the Gulfstream stayed in Asia. www.asianskygroup.com

Duncan Aviation

Garmin International

Duncan Aviation is hosting a series of free, day-long NextGen Seminars around the country throughout 2015. Designed to focus on the mandates for ADS-B and FANS 1A. Duncan’s channel partners, including Cobham, Universal, Safran, GoGo, ICG, Honeywell and L-3, will present practical information about the certified equipment that is available now for business aircraft. Some of the seminar classes are available for IA renewal credits. The second Seminar is in Salt Lake City on February 19 and one at AEA in Dallas on April 7. They plan to host five more throughout the year but dates and locations for those are not yet determined. Contact: Mark.Francetic@DuncanAviation.com

Garmin International recently announced the certification of an Automatic Dependent Surveillance-Broadcast (ADS-B) solution for the Gulfstream G150, bringing NextGen compliance to this versatile mid-sized business jet. The Garmin GTX 3000 Mode S Extended Squitter (ES) remote transponder and GDL® 88 ADS-B datalink combine to fulfill global ADS-B requirements while meeting the stringent demands of business and transport category aircraft. This cost-effective ADS-B upgrade meets the immediate needs of business aircraft that have limited options to address global airspace requirements. www.garmin.com

Jet Aviation

Luxaviation

Jet Aviation and The Swiss Federal Laboratories for Materials Science and Technology (Empa),entered into a joint initiative resulting in the development of a new coating to protect business jet interiors against fire. Not only is the coating more environmentally friendly than before; it can also be applied more quickly and can be used on textiles, wood-based furnishings and architectural systems. www.jetaviation.com

Luxaviation the Luxembourgish business aviation group confirms its position as European leader of business aviation through the recent acquisition of Masterjet, which holds a Portuguese AOC, is headquartered in Lisbon and operates business jets from Paris/Le Bourget. With its 44 employees in Paris and 13 aviation experts based in Lisbon, Masterjet operates a fleet of eight business jets ranging from Falcon- to Learjet- type aircrafts as well as a wide body Airbus 320, mainly targeting "head of state" clients. www.luxaviation.lu

Magnus Power

Rockwell Collins

Magnus Power have been supplying power solutions to the aviation industry since the late 1980’s offering power supplies of all sizes to IFE companies for testing, MRO companies for maintenance and FBO’s for ground power as well as bespoke applications for military installations globally. www.magnuspower.co.uk

Rockwell Collins recently joined Embry-Riddle Aeronautical University in a two-phase launch of the Aircraft Access to System-Wide Information Management (SWIM) program that utilizes national airspace data to improve aircraft situational awareness. Rockwell Collins’ Data Management Service (DMS) was utilized in Phase 1 of the program to demonstrate one-way access to SWIM. Phase 2 of the program will demonstrate the capability for two-way data transfer. www.rockwellcollins.com

Advertising Enquiries see Page 8

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Welsch Avitaion February 20/01/2015 12:08 Page 1

S H O W C A S E

Dassault Falcon 2000 Serial Number: 84 Registration: N1929Y Airframe TT: 2379 Landings: 3040 Engines CFE 738-1-1B LEFT 2350 HSN 373 HOURS SINCE MPI ON JSSI COMPLETE PLUS 100% CFE 738-1-1B RIGHT 2339 HSN 373 HOURS SINCE MPI ON JSSI COMPLETE PLUS 100% APU ALLIED SIGNAL GTCP 36-150(F2M) 1585 HSN ON JSSI PAID THRU 7-28-2015 Inspection WING DRY BAY MOD (SB 358) C/W 3/2012 2C INSPECTION C/W WESTSTAR AVIATION 3/2012 12 YEAR /6000 LANDING GEAR OVERHAUL AND SBs C/W 3/2012 COLLINS AVIONICS CASP PROGRAM PAID THRU 8-4-2015 ALL CABIN WINDOWS REPLACED 3/2012 4A+ & 400 HR ENGINE INSPECTIONS 12/2014 ALL WHEELS OVERHAULED, NEW TIRES 12/2014 Avionics COLLINS PROLINE 4 FLIGHT DECK COLLINS EFIS-4000 (4) 7” TUBES COLLINS AUTOPILOT APS-4000 COLLINS TWR-850 W/TURBULENCE WEATHER RADAR & SECOND CONTROLLER DUAL COLLINS VHF-422C COMMs W/ 8.33 SPACING

DUAL COLLINS VIR-432 NAVs W/ FM IMMUNITY DUAL COLLINS DME-442 DMEs DUAL COLLINS ADF-462 ADFs DUAL COLLINS TDR-94Ds MODE S DUAL COLLINS KHF-9000 HFs W/ COLTECH 2 CHANNEL SELCAL CSD-714 DUAL COLLINS FMS-6100 FMS’ W/ 6.1 SOFTWARE DUAL COLLINS GPS-4000 12 CHANNEL GPS’ DUAL COLLINS AIR DATA COMPUTERS ADC-850Cs DUAL COLLINS ALT-55B RADIO ALTIMETERS COLLINS AHC-85E AHRS DUAL HONEYWELL LASEREF IIIs COLLINS TCAS 94 (TCAS II) W/ CHANGE 7 HONEYWELL EGPWS MK V W/ WINDSHEAR Additional Equipment EROS COCKPIT OXYGEN MASKS W/INTEGRATED GOGGLES ROSEN SUN VISORS ALLIED SIGNAL SSCVR AND PROVISIONS FOR SSDFDR CUSTOM SECOND HANDRAIL ON MAIN ENTRYWAY DOOR AERIAL VIEW VIDEO CAMERA SYSTEM FLIGHT ENVIRONMENTS SOUNDPROOFING PACKAGE Interior 8 PAX DOUBLE CLUB SEATING W/ LEG RESTS IN CRÈME LEATHER. THE FWD TWO AND AFT TWO SEATS HAVE WOOL CRÈME AND BLUE INSERTS. IZIT LEATHER HEADLINER, CREME FABRIC WINDOWLINE, NAVY BLUE WOOL CARPET, GOLD METAL WORK, WHITE OAK VENEER WOODWORK,

FWD FULL GALLEY W/ CONVECTION OVEN, COFFEE MAKER. FWD COAT CLOSET, FWD HARD POCKET DOOR, (5) 115 PORTS, (2) PC/DATA PORTS, (4) TV PORTS, (2) 6” AND (1) 8” ROSEN PLUG IN TVs, FWD 14” TV MONITOR, VCR, AIRSHOW 400, CD PLAYER, AFT EXTERNALLY SERVICED LAV & POTABLE WATER, FIREBLOCKED. PARTIAL REFURB MARCH 2012 WESTSTAR AVIATION Exterior WHITE TOP, TAN BOTTOM WITH BLUE STRIPE, DONE MARCH 2012 WESTSTAR AVIATION

Contact K. Hunter Weiss Tel: +1 (0) 703-787-8800 Mob: +1 (0) 703-966-0936 Email: hunter@welschaviation.com www.welschaviation.com Advertising Enquiries see Page 8

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Aerosmith Penny 1999 Gulfstream V December 21/01/2015 12:14 Page 1

S H O W C A S E

1999 Gulfstream V Serial Number: Airframe TT: Landings:

593 5662 3584

Airframe & Engines BMW ROLLS-ROYCE ENGINES BR 710 TIME SINCE NEW: 5662 5610 Time MID Life Done AT: 3464 (2007) 3464 (2007) APU SERIAL NUMBER P-220 / TIME SINCE NEW 2801 HOURS Avionics DUAL HONEYWELL SPZ-8500 IFCS/DIR DUAL HONEYWELL SPZ-8500 IFCS/AP TRIPLE HONEYWELL LASEREF III IRS DUAL HONEYWELL IC-800 AND THIRD NZ2000 FMS (5.2) DUALHONEYWELL HG-2021 G.P.S. DUAL COLLINS VHF-422B COMM’s DUAL COLLINS VIR-432 NAV’s DUAL COLLINS ADF-462 ADF DUAL COLLINS DME-442 DME DUAL COLLINS HF-9000 HF COMM w/SELCAL DUAL COLLINS RTU-4280 RTV’s DUAL HONEYWELL RT-300 RADAR ALTIMETER PRIMUS P-880 – COLOR RADAR HONEYWELL MARK V EGPWS HONEYWELL AFIS TCAS II with CHANGE 7.1 COLLINS TDR-94D MODE S w/ FLIGHT ID

130

Features HUD 2020 HEADS UP DISPLAY HONEYWELL EMS AMT 700G SATCOM W/SWIFTBROADBAND L-3 FA2100 2 HR CVR TELEDYNE DIGITAL FDR 25 HRS MINI QAR FM IMMUNITY/ELEMENTARY SURVEILLANCE EASA OPS 1 COMPLIANT MAINTAINED JET AVIATION BASEL FADEC MODIFICATION TO 10.2 HONEYWELL LSZ-860 LIGHTING SENSOR PULSE LIGHT SYSTEM ON HONEYWELL HAAP PROGRAM STAGE 4 NOISE CERTIFICATION WATER RIBBON HEATER UPGRADE Interior 18 PASSENGER FIREBLOCKED CABIN WITH FORWARD GALLEY AND LAV. FORWARD CREW REST AREA ENTERTAINMENT INCLUDES BOSE STEREO, AIRSHOW GENSYS, TWO 18” MONITORS AND EIGHT 8” MONITORS DVD, CD, PHONE Exterior OVERALL WHITE with BROWN AND TAN TAIL ASKING PRICE: MAKE OFFER

AeroSmith Penny II LLC Bob Nygren or Jeff Carter 8031 Airport Blvd., Suite 224, Houston, TX 77061

Prestige Jet Alexandre Le Tourneur

Tel: +1 (713) 649-6100 Email: aspinfo@aerosmithpenny.com www.aerosmithpenny.com

Tel: +41 (0) 76 3870273 Email: a.letourneur@prestigejet.ch

AVBUYER MAGAZINE – February 2015

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Aircraft Index see Page 4

Aerosmith Penny Citation Excel December 21/01/2015 12:19 Page 1

S H O W C A S E

2002 Citation Excel Serial Number: Registration: Airframe TT: Landings:

560-5244 N898PP 7278 7049

Airframe & Engines PRATT & WHITNEY 545A LEFT: TSN 7107 TSMOH 2221 RIGHT: TSN 6747 TSMOH 2016 (204 SHOT) APU HONEYWELL RE-100XL 1,479 TT Avionics FLT DIR: HONEYWELL PRIMUS 1000 IFCS W/8.33 EFIS: HONEYWELL PRIMUS 1000 3 TUBE RADAR: HONEYWELL PRIMUS 880 COLOR COMMS: DUAL HONEYWELL RCZ-851 NAVS: DUAL HONEYWELL RNZ-850 ADF: DUAL HONEYWELL DF-850 ELT: ARTEX 110-406 EGPWS: HONEYWELL MARK V w/WINDSHEAR FMS: UNIVERSAL UNS-1CSP HF: HONEYWELL KHF-950 PROVISIONS CVR: L3 FA-2100 TCAS: HONEYWELL CAS-67A TCAS II RMU: DUAL HONEYWELL RM-855 AHRS: LITEF LCR-93

Additional HAPP REMOTE CABIN TEMP CONTROL SEAT TRACKS EXTERNAL LAV SERVICE CABIN 110V OUTLETS DOUBLE WIDE PEDESTAL RVSM CESCOM MAINTENANCE TRACKING AV 300 SYSTEM WEATHER Interior 2013- SOFT GOODS REPLACED- INTERIOR REVITALIZED. NEW CARPET, NEW SIDE PANELS, NEW SHEEPSKINS IN COCKPIT, WOODWORK CLEANED AND ALL SEATS CLEANED AND DYED. FORWARD TWO PLACE RH DIVAN, OPPOSITE REFRESHMENT CENTER. MID CABIN FOUR PLACE CLUB AND TWO FORWARD FACING AFT SEATS. SATCOM PHONE, CERTIFIED FOR 9 PASSENGER. BELTED SEAT IN LAV Exterior OVERALL SNOW WHITE, WITH BEIGE, RED, AND BLUE STRIPING

AeroSmith Penny II LLC 8031 Airport Blvd., Suite 224, Houston, TX 77061

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Tel: +1 (713) 649-6100 Fax: +1 (713) 649-8417 Email: aspinfo@aerosmithpenny.com www.aerosmithpenny.com February 2015 – AVBUYER MAGAZINE

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Jet Sense Aviation Hawker 800XP January_Empyrean 21/01/2015 12:24 Page 1

S H O W C A S E

2004 Hawker Beechcraft 800XP Serial Number: Registration: Airframe TT: Landings:

258648 N483AM 8,530 5541

Engines Honeywell TFE731-5BR-1H Left Engine: P-107849 Hours: 7031 - MSP GOLD Cycles: 4475 Right Engine: P-107850 Hours: 8155 - MSP GOLD Cycles: 5315 APU Honeywell GTCP36-150: 9406 TT 451 TSO – MSP Avionics COLLINS PROLINE 21 AVIONICS SYSTEM Traffic Alert Collision Avoidance System: TCAS II - TCAS 4000 Autopilot: Automatic Flight Guidance System AFGS 3000 EGPWS: Honeywell Mark V EGPWS (TAWS-A) FMS: FMS DBU 5000 Automatic Direction Finder: ADF Module DF-850 Cockpit Voice Recorder: Universal CVR-120 Cockpit Voice Recorder Communications: Dual Collins VHF Distance Measuring Equipment: Dual Collins DME-442 Radio Altimeter: Collins ALT-4000 Navigation: Collins NAV 4000 Digital Nav with ADF/GS/MB

Transponder: Dual Collins TDR-94A w/ Enh. Mode S Radar: Collins TWR-850 Stormscope: Goodrich WX 1000 ELT: Artex C406-2 MHz ELT w/Nav Interface Features Airshow 400 RVSM Aircell Sat Phone Dual IAP Interior New 2012 Eight (8) Passengers with 4 Forward club seats, Aft LH Forward facing seat. Aft RH 3 Place Divan Exterior Overall White with 3 paint stripes consisting of Orange, Bronze, Black. New 2012 Maintenance Gear OH c/w 2012

Jet Sense Aviation, LLC Contact: Brett Forrester

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

Aircraft Index see Page 4

Jet Sense Aviation, LLC Lear 60XR January_Empyrean 21/01/2015 12:26 Page 1

S H O W C A S E

Very Aggressively Priced at $4,395,000

2008 Lear 60XR Serial Number: Registration: Airframe TT: Landings:

334 N263FX 4,800 3,300

Engines P&WC305A Left Engine Hrs: 4563 - ESP GOLD Cycles: 3183 Right Engine Hrs: 4543 - ESP GOLD Cycles: 3183 APU Sundstrand T-20G-10C3A APU. Hours - 1682 Avionics COLLINS PROLINE 21 AVIONICS SYSTEM Traffic Alert Collision Avoidance System: TCAS-94D TCAS II with change 7 HF Radio: Honeywell KHF-950 HF w/SELCAL EGPWS: Honeywell Mark V EGPWS with Windshear Alert EFIS: Four Tube Collins AFD-3010 with 7" X 8" Displays Air Data Computer: Dual Collins ADC-850D Air Data Computers FMS: Dual Collins FMS 5000 Flight Management Systems Automatic Direction Finder: Dual Collins ADF-462 Cockpit Voice Recorder: Universal CVR-120 Cockpit Voice Recorder Communications: Dual Collins VHF 422C Distance Measuring Equipment: Dual Collins DME-442

Navigation: Dual Collins VIR-432 Nav Units Transponder: Dual Collins TDR-94D Radar: Collins WXR-840 Color Weather Radar System ELT: Artex C406-2 MHz ELT w/Nav Interface Features Enrolled on SMART PARTS ICG ICS-100 Iridium SATCOM Airshow 410 Emergency Lighting System Enrolled in CAMP R.V.S.M. Capable Fwd and Aft Monitors (L.C.D.) SONY cabin Entertainment system - DVD system Interior Fireblocked, XR Executive Floor plan A (Eight passengers) 7 passenger seats and 1 belted lavatory seat. The cabin features four-place executive club chairs with two executive fold-out tables and a forward three-place divan. Forward galley and the standard lavatory is located aft of the main cabin. External baggage compartment Exterior New 2014 Maintenance Fresh A & B inspection c/w. All maintenance due within 120 days and 150 hours c/w

Jet Sense Aviation, LLC Contact: Brett Forrester 550 N. Rand Road, Lake Zurich, Illinois 60047 Tel: +1 (847) 550 4660 Email: brett@jetsenseaviation.com www.jetsenseaviation.com Advertising Enquiries see Page 8

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Gantt Aviation, Inc. Contact: Jay Gantt 221 Stearman Drive, Georgetown TX 78628 Tel Office: +1 512 863 5537 Email: Jay@ganttaviation.com www.ganttaviation.com February 2015 â&#x20AC;&#x201C; AVBUYER MAGAZINE

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Hagerty Jet Group 1996 Gulfstream IVSP February 22/01/2015 10:06 Page 1

S H O W C A S E

1996 Gulfstream IVSP Serial Number: 1292 Registration: N292MU Airframe TT: 9,294.7 Landings: 4948 Engines Rolls-Royce Tay 611-8 s/n TSN Cycles Program Left CAE 16698 8,487 4678* RRCC Right CAE 16695 8,674 4774* RRCC *As of August 16, 2014 APU APU: Honeywell GTCP-6-150G s/n Time Since New Cycles Program P-775-C 5079 4502* MSP *As of August 16, 2014 Avionics Honeywell PlaneDeck Six Screen LCD Primary flight Display Upgrade Honeywell SPZ-8400 AutoPilot Honeywell 2020 Head Up Display Honeywell XMD-157 XM Weather Bf Goodrich GH-3000 ESIS w/Mini ADC Dual Esterline cursor controls Dual CMC cMA-1100 electronic flight Bags Triple Collins VHf-422D Comm’s w/8.33 Spacing Dual Collins VIr-432 Nav’s w/FM Immunity Dual Collins DMe-442 DME’s Dual Collins ADf-462 ADF’s Dual Collins TDr-94D Mode S transponders w/enhanced flight ID Honeywell Primus 880 color Weather radar Dual Honeywell NZ-2010 FMS w/6.1 (Upgrade to Support ADS-B Out)

Dual Honeywell 12-channel GPS Dual Honeywell Laseref IRS’s Triple Honeywell cDU-820 control Display Units Additional Equipment FAR Part 91.411 & 91.413 RVSM / 8.33 Spacing / FM Immunity RNP & MNPS capable Forward Jump Seat Airshow Genesys Forward & Aft cabin 17” Monitors Aircell AtG-4000 Go-Go Wifi Domestic High Speed Internet Printer / copier / Scanner / fax Machine DVD/CD Player Dual Davtron clocks Aft equipment Bay w/Storage Box Portable tow Bar Provisions Interior Elegant thirteen (13) Passenger fireblocked executive interior featuring a forward cabin four (4) place club followed by a mid-cabin three (3) place berthable divan opposite a two (2) place club. The aft cabin features a four (4) place left side conference/dining group with an opposing right side credenza. All individual seats are finished in beige leather and the mid-cabin divan is upholstered in a solid coordinated lighter tan fabric. Beautifully sculpted Light tan carpeting runs throughout the cabin. The aircraft cabinetry, executive tables, conference table, drink rails and bulkheads are finished in a very attractive High Gloss Waterfall Bubinga Veneer accented by Gold colored bright-work.

Hagerty Jet Group, LLC 100 Bull Street, Suite 200 Savannah, GA 31401 USA

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Tel: +1 (912) 236-8500 - Office Tel: +1 (912) 695-5579 - Mobile E-mail: James@hagertyjetgroup.com www.hagertyjetgroup.com Aircraft Index see Page 4

Hagerty Jet Group Legacy 600 February 22/01/2015 10:08 Page 1

S H O W C A S E

2004 Legacy 600 Serial Number: Registration: Airframe TT: Landings:

145770 N53NA 3,732 2,064

Engines Rolls-Royce - AE3007A1E s/n TSN Cycles Program Left CAE 312520 3,732 2,064 RRCC Right CAE 312455 3,732 2,064 RRCC APU Hamilton Sundstrand - APS 500R / T-62T40C14 Cabin Entertainment Airshow 400 Two 15.1”Monitors Dual multi-regional DVD players Remarks Upgraded A1E engines enrolled on Rolls-Royce CorporateCare Avionics enrolled on HAPP Dual NZ-2000 FMS 6.0 One U.S. owner since new Current part 135 Internally Serviceable Fwd Crew Lav Fwd flight attendant jump seat Empty Weight: 29,290 lbs. IRIDIUM Aircell ST-3100 SatCom w/ two handsets Documented damage during jacking procedure in 2007

Interior 13 Passenger Fwd Galley Fwd Crew Lav Fwd Cabin – 4 Place Club Grouping with Stowable Executive Tables Mid Cabin – 4 Place Conference Grouping with Opposing Credenza Partition Aft Cabin – 3 Place Berthable Divan with Opposing 2 Place Club Grouping with Stowable Executive Table Aft Full Lav Additional Seating – Fwd Observer Jump Seat and Fwd Flight Attendant Jump Seat The Interior has been updated periodically and shows very well The veneer is a Myrtle Burl wood Exterior Base white with black striping on fuselage Two-tone brown striping on vertical stabilizer Metallic sliver striping on engine cowlings Painted 2008 Maintenance Summary Tracked on Flightdocs • 96 month inspection c/w January, 2012 • Major maintenance performed at Aero Air in Hillsboro, OR and/or Embraer in Nashville, TN. Ask Price

Hagerty Jet Group, LLC 100 Bull Street, Suite 200 Savannah, GA 31401 USA

Advertising Enquiries see Page 8

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Tel: +1 (912) 236-8500 - Office Tel: +1 (912) 695-5579 - Mobile E-mail: James@hagertyjetgroup.com www.hagertyjetgroup.com February 2015 – AVBUYER MAGAZINE

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Florida Jet 2008 Bell 407 February 20/01/2015 11:43 Page 1

S H O W C A S E

2008 Bell 407 Serial Number: 53875 Registration: N523PC Airframe TT: 713.8 Landings: 1598 Engines Allison Rolls-Royce 250-C47B Starts: 1305 One U.S. Corporate Owner Since New Avionics Chelton synthetic EFIS w/ Chelton AHRS, GPS, TAWS and TAS interface Garmin GDL-69A w/ XM Weather Garmin SL-40 Comm. #2 Garmin GTX-330 Mode S Transponder Avionics Cooling Fans (two each) Avidyn/Ryan TAS610 TCAD-w- Mutable Audio Interfaced to GNS-530W Artex C406-NHM /3 Freq-w- GPS Interface Garmin GNS-530W GPS/COM/NAV/GS Avionics Master Switch PS Engineering PAV-80 AM/CD/DVD w/ IPOD interface PS Engineering PMA 7000B Audio Panel Parrot Bluetooth Cel Phone Interface 12 VDC Receptacle in Cockpit Additional Factory Equipment Hi-Viz rotor blades Rotor Brake Whelen 2 position strobes Max Gross Weight Kit 28 Amp Battery Standard Headliner W/ A/C ducts Dual controls Aux Fuel Tank Provisions

Interior Completed in 2009 Beautifully appointed 6 passenger corporate interior, seats, armrest and soundproofing. The seats are covered in 2 tone Spinneybeck leather with coordinated piping Exterior Completed in 2009 See photos for exterior paint. Inside of Cowlings Painted White / Top of Engine Cowling Behind Stack Painted Black Edwards & Associates, Inc. Completion Equipment Custom Passenger Assist Handles (2) High Visibility Crew Doors with Snap Vents Dual Control Safety Kit Fuel Filler Protector Baggage Floor Protector Rubber Mounted Chin Bubbles Windows Butterfly DZUS fasteners on battery compartment Ground Handling Wheels (Brackett) Automatic Door opener Kits, Cabin-Baggage Carbide Technologies AFT only Skid shoes Folding Maintenance Steps Custom Black Instrument Panel Sheepskin Covers on Crew Seats Wired for Bose Headsets (7) Wire Strike Protection System Crew Wedge Windows Super Night Scanner Belly Search Light Two Double Blisters Wrapped in Cabin Roof Fabric added to Cabin Containing Original Flood light & Pivoting Reading Light

Florida Jet 1516 Perimeter Road, Suite 201 Palm Beach International Airport West Palm Beach, FL 33406

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www.AVBUYER.com

LED Position Lights IBF Filter w/ Access Door (in lieu of particle separator) Cabin Floor Protector Kit Pre-Flight Kit (steps) Map Pockets Collective Safety Cover Passenger Wedge Windows W/Slide Custom Assist Handles in Cockpit (2)

Tel: +1 (561) 615-8231 Fax: +1 (561) 615-8232 Email: info@flajet.com www.FlaJet.com Aircraft Index see Page 4

CAAP G280 February 22/01/2015 10:12 Page 1

S H O W C A S E

2014 G280 Serial Number: Registration: Airframe TT: Landings:

2052 N386RW 55 15

CAAP is pleased to offer this brand-new Gulfstream G280 to the market. This airplane has production test and delivery time only and is available for immediate sale. G280 S/N 2052 is loaded with over $2 million of the most desirable factory options. This airplane also includes new aircraft training entitlements. Avionics Aircraft equipped with G280 “Intercontinental Package” EVS & HUD Laseref VI IRS Third FMS, Triple VHF NAV Dual ADF & Dual HF Dual Flight Data Recorders & CVR ADS-B Out capability, CPDLC, RVSM Micro QAR for FOQA capability XM Weather & Dual Electronic Charts Interior 10-passenger Gulfstream “Hallmark” interior configuration Forward 4-place club group Aft LH 4-place conference/dining group Aft RH 2-place divan Forward galley Swift Broadband high-speed data (pending certification) Aircell Gogo Biz high-speed internet

Corporate Aviation Analysis & Planning Inc 97 Village Lane, Suite 100, Colleyville, TX 76034, USA Advertising Enquiries see Page 8

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Tel: +1 817 428 9200 Fax: +1 817 428 9201

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EASTUNION - Sorens Group Ltd February 21/01/2015 12:29 Page 1

S H O W C A S E

2008 Gulfstream G550 Serial Number: Registration: Airframe TT: Landings:

5193 P4-PPP 3115 1088

Sorens Group Ltd proudly brings to the market this 2008 Gulfstream G550 Airframe Enrolled to Gulfstream PlaneParts program Engines BR700-710C4-11 LH 3115Hrs/ 1088 Cyc; RH 3115Hrs/ 1088 Cyc Enrolled to Rolls Royce Corporate Care On Condition APU Total time 3311Hrs Enrolled to Honeywell MSP Avionics CERT E HONEYWELL PLANEVIEW AVIONICS SUITE, SINGLE MILTOPE TP-4840 THERMAL COCKPIT PRINTER, SINGLE BF GOODRICH GH-3100 STANDBY FLIGHT DISPLAY, SINGLE BF GOODRICH EBDI-4000 STANDBY RMI, SINGLE BF GOODRICH MAGNETOMETER, DUAL DAVTRON DIGITAL CLOCKS, TRIPLE HONEYWELL IR-500 LASEREF V MICRO IRUS, TRIPLE HONEYWELL AZ-200 AIR DATA MODULES, TRIPLE HONEYWELL VHF VOICE/DATA RADIO, SINGLE ARTEX 110-406 ELT (TRIPLE FREQUENCY, WITH NAV UNIT),

SINGLE HONEYWELL WU-880 WEATHER RADAR, DUAL HONEYWELL WC-884 WEATHER RADAR CONTROLLERS, TRIPLE HONEYWELL AV-900 AUDIO CONTROL PANELS, SINGLE HONEYWELL VGS HUD SYSTEM, SINGLE KOLSMAN EVS FLIR SYSTEM, DUAL COLLINS HF RADIOS Additional Equipment New paint scheme: 04.2014, Heads up Checklist, Cabin Audio/Video Package, Noise canceling Headphones, EASA JAR OPS 1 certified(ASC035A Part II), Enhanced Soundproofing, Upgrade to 20” FWD Bulkhead monitors Interior Aircraft is configured into 4 cabin seating zones. The Forward Galley is equipped with microwave, espresso machine and granit countertop. The crew Lavatory is also located in the forward section of the airplane. The forward seating zone consists of 4 single chairs all of which are fully berthable in a double club configuration with 2 pull out executive tables. The second zone consists of a three place divan across from two single chairs with a pull out table. The third zone consists of a dining table with four seats and credenza across from it. The sleeping area is separated from the cabin by a pocket doors and consists of 2 three place divans. There is also a walk-in toilet with cupboard with access through to the baggage area.

Sorens Group Ltd 1 1\2 Miles Northern Highway, Belize City, Belize

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Tel: +43 (664) 430-12-27 Email: sales@sorens.aero www.sorens.aero

Aircraft Index see Page 4

Waked February 21/01/2015 12:35 Page 1

S H O W C A S E

2013 Global 5000 Vision Serial Number: Airframe TT:

9486 685

Avionics/Radios The Aircraft is equipped with the Rockwell Collins Pro Line Fusion avionics suite, complete with four 14’’*11’’ landscape active matrix liquid crystal displays (AMLCD). The Cockpit Controls consist of the following: Two Cursor Control Panels (CCP), on the Center Pedestal. Two Multifunction Keyboard Panels (MKP) on the Center Pedestal. Two Glareshield mounted Control Tuning Panels (CTP) offering complete heads-up radio tuning and mode control, display control and standby NAV. Glareshield mounted Flight Control Panel (FCP) with LCD readouts. Radio tuning can be performed via the following: Tuning multi-tasking window. Selecting a Navaid or Waypoint on the map. Control Tuning Panel (CTP). The Integrated Processing System (IPS) is a cabinet architecture that hosts much of the central processing to support the operation of the system. Three single channel Integrated Processing Cabinets (IPC) host the following functions: Automatic Flight Control System (AFCS). Flight Management System (FMS). Onboard Maintenance System (OMS). Integrated Flight Information System (IFIS).

Terrain Awareness Warming System (TAWS). Synthetic Vision System (SVS). Enhanced Vision System EVS Three air data computers Triple IRS. Dual ADF. Dual WAAS GPS Dual radio altimeter Graphical flight planning Onboard Maintenance System Additional equipment Exterior paint. With 2 colors and 2 lines Polish (Latches of Engine Cowlings, Cockpit Windshield Frame, Rear Bay Door Handle, Surround of Main Door, Baggage Door Handle) One multi-purpose ladder. XM Graphical weather 3rd IFIS. 2nd Datalink. 2nd SVS 15 Seats Interior: LH entrance enclosure, main entry door, RH galley annex, RH galley Forward bulkhead, manual pocket door Mid cabin left conference group Forward large lavatory, vacuum toilet, sink, vanity Forward cockpit flight observer seat Aft right lavatory, vacuum toilet, sink, vanity, storage Customization Flight Attendant Galley Flight Seat 34-42-4401 SMS-5000 Surface Management System 44-30-4005 CNX Data Acceleration 2 dual Blu-ray/CD/DVD/MP3 disc players Galley touch screen control monitor Speaker and subwoofer arrangement Baggage compartment accessible in-flight Interior LED lighting Dual channel Iridium telephone system WAKED JAYYOUSI Greece

Advertising Enquiries see Page 8

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Tel: +306947379572 E-mail: wjayyousi@aol.com

February 2015 – AVBUYER MAGAZINE

139

CAI TBM 700C2 January 22/01/2015 14:40 Page 1

S H O W C A S E

2005 TBM 700C2 Serial Number: Registration: Airframe TT:

318 N12MA 998

Engines PRATT & WHITNEY PT6A-64 (3,500 Hr. TBO) 998 TSN. 771.2 Since Hot Section Propeller HARTZELL 4-BLADE. 249 SPOH – MAY 2013 Avionics KING SILVERCROWN/GARMIN NAV/COMM: DUAL GARMIN GNS-530 WAAS AP/FD: KING KFC-325 (W/PRESELECT) XPNDR: GARMIN GTX-327 & GTX-330 DME: KING KN-63 (w/OUTPUT TO EHSI) R/ALT: KING KRA-405B ALTIMETER: AM-250 ENCODING AUDIO: GARMIN GMA-340 GPS: DUAL GARMIN GNS-530 WAAS EFIS: TWO-TUBE BENDIX EFS-40 MFD: KING KMD-850 (w/TAS & TAWS) TAWS: KING KGP-560 RADAR: KING RDR-2000 (ON KMD-850) S/SCOPE: BF WX-500 TRAFFIC: KING KTA 870 Active traffic Features ONLY 998 HOURS AND TWO OWNERS SINCE NEW, NO DAMAGE HISTORY, RVSM EQUIPPED, GPSS ROLL STEERING, GARMIN 330 TRASPONDER UPDATED WITH ADS-B, CONNECTED TRAFFIC OUTPUT TO #2 GARMIN 530 FOR BACKUP TRAFFIC, GASEOUS OXYGEN SYSTEM, SHADIN ETM

700 ENGINE TREND MONITOR, ON TREND MONITORING, PULSE LIGHT ANTICOLLISION SYSTEM, FULL CO-PILOT INSTRUMENTS: KING KI-525 HSI, AIRSPEED & VERTICAL SPEED INDICATORS, ALTITUDE INDICATOR, ELECTRIC ARTIFICIAL HORIZON, ELECTRIC TRIM CONTROL, ALTIMETER AND AIRSPEED INDICATOR. FREON AIR CONDITIONING, KNOWN ICING (DE-ICE BOOTS, ELECTRIC PROP, WINDSHIELDS, PITOT/STALL, INERTIAL SEPARATOR), HOUR METER, ELT, AND OAT GAUGE Interior EXECUTIVE CLUB SEATING FOR FOUR (SEAT BEHIND PILOT IN STORAGE) PLUS TWO PILOTS. HIGH COMFORT ASH GREY LEATHER SEATS WITH NEW (MAY 2014) GREY CARPET, RH STORAGE CABINET WITH CD PLAYER & LH REFRESHMENT CABINET (IN STORAGE), WOOD VENEER OVERHEAD PANEL WITH A/C VENTS AND READING LIGHTS AND EXECUTIVE WRITING TABLE Exterior TOP HALF COMPLETED IN PEARLESCENT WHITE WITH BOTTOM HALF COMPLETED IN BLACK WITH SILVER AND GOLD STRIPING Maintenance ANNUAL INSPECTION COMPLIED WITH JUNE 2014, LANDING GEAR ON LONG LIFE PROGRAM

J.P. Hanley Corporate AirSearch Int'l Inc. Palm Beach, South Florida

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AVBUYER MAGAZINE – February 2015

www.AVBUYER.com

Palm Beach Tel: Fax: Cellular: Email: Website:

(561) 433-3510 (561) 433-3842 (561) 289-3355 jp@caijets.com www.caijets.com Aircraft Index see Page 4

Aviation Advisors January 21/01/2015 12:41 Page 1

S H O W C A S E

2013 Pilatus NG Serial Number: Registration: Airframe TT: Landings:

1406 LN-PIL 115 139

Engines Pratt & Whitney PT6A-67P Serial Number: PCERY0419 Manufacturer TBO: 3,500 Hours Since New: 115 Cycles Since New: 139 Prop(s) Propeller Type & Model: Hartzell HC-E4A-3D/E Manufacturer TBO: 4,000 Hours Hours Since New: 115 Hours

Satcom (Iridium) Antenna 3 Power Outlets 110V AC, Dual NiCad Batteries Large Oxygen System Exterior Silver and grey metallic paint with black and red accent stripes Interior Executive Platinum 6-seat Interior London Interior Package Private Lavatory Forward Refreshment Cabinet

Avionics/Radios Honeywell Primus Apex Avionics Suite Elite Package SmartView Synthetic Vision System Dual WAAS GPS Dual Mode S Transponders Electronic Checklist Function Honeywell ChartLink RVSM Equipment Coupled VNAV Additional Equipment Additional Air Conditioning Pulsing Recognition Lights 406 MHz ELT

Aviation Advisors International Inc 8191 N. Tamiami Trail, Sarasota, Florida, 34243-2032

Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: +1 (941) 351-5400 Tel: +1 (210) 490 1883 - San Antonio office Email: bobd@aaisrq.com www.aviationadvisorsintl.com February 2015 â&#x20AC;&#x201C; AVBUYER MAGAZINE

141

1 Mente January 20/01/2015 11:49 Page 1

S H O W C A S E

2008 Gulfstream G450 Serial Number: Registration: Airframe TT: Landings:

4108 N227RH 3,145 1,672

• JSSI airframe and avionics coverage • Rolls Royce Corporate Care engine coverage • FANS 1A/CPDLC compliant • ADS-B out • ASC 910 (Cert G) • Enhanced Nav Package • Synthetic Vision 2.0 Engines Rolls Royce Tay MK 611-8C Engines on Rolls-Royce Corporate Care #1 S/N 85223 3,145 Hours 1,672 Cycles #2 S/N 85218 3,145 Hours 1,672 Cycles

Brian Proctor Cell: +1 (817) 307-7720 E-mail: brian@mentegroup.com

APU Honeywell GTCP36-150. Enrolled on MSP S/N P222. 1,796 Hours. 2,879 Cycles Avionics Honeywell Primus Epic Honeywell GP-500 Flight Guidance Panel Kollsman Enhanced Vision System (EVS) Honeywell Head Up Display / Visual Guidance System Dual EGPWS with Windshear Detection Triple Honeywell AZ-200 Air Data Modules Triple Honeywell AV-900 Audio Panels Triple MC-850 Multifunction Control Display Units Triple VHF Navigation Systems Triple VHF Communications Systems Dual Honeywell RT-300 Radio Altimeter Additional Installed Equipment • Multi Region Direct TV

1998 Falcon 900B Serial Number: Airframe TT: Landings:

170 3606.5 1909

Engines AlliedSignal TFE731-5BR-1C. On MSP Gold Engine #1: 3606.5 HRS TSN, 1940 Cycles Engine #2: 3606.5 HRS TSN, 1940 Cycles Engine #3: 3575.9 HRS TSN, 1922 Cycles APU Garrett GTCP36-150F. On MSP 2649 HRS TSN Avionics Dual Honeywell EDZ-820EFIS. Honeywell DFZ-800 Dual Honeywell NZ-2000 w/DL-950 Data Loader Dual Honeywell GNSSU (12 Channel) Dual Collins VHF-22A. Dual Collins VIR-32

Mark Payne Cell: +1 (972) 897-3246 E-mail: mark@mentegroup.com Dual Collins ADF-60B Dual Collins Dual Collins DME-42 Dual Collins TDR-94D Mode S/Enhanced Surveillance Honeywell Primus 880 w/2 RCU’s Collins TCAS-94 (change 7) Honeywell AA-300 Dual King KHF-950 w/Selcal (2 channel) Honeywell MCS-3000 (3 channel) Teledyne Controls/Magnastart C-750 Dual Honeywell III LIRS EGPWS Allied Signal Mark V with Windshear Allied Signal Cockpit Voice Recorder Allied Signal Flight Data Recorder ELT 97A-406 Maintenance AVTRAK, OCIP “A” Program, RVSM, 8.33 kHz, FM immunity, RNP-5/-10

Mente Group, LLC 15301 North Dallas Parkway, Suite 1010 Addison, TX 75001

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AVBUYER MAGAZINE – February 2015

• Gulfstream Broad Band Multi Link – BBML with VOIP • Enhanced Soundproofing • SecuraPlane External Camera System w/ 3 Cameras • SecuraPlane 500 Security System • Wireless LAN Local Area Network Interior Universal Fourteen (14) passenger executive interior. The forward cabin features a forward four (4) place club with pull out tables. The mid cabin area offers a two (2) place club with fold out table across from a four (4) place divan. The aft cabin features a four (4) place conference group opposite a credenza which incorporates the cabin entertainment system, printer and miscellaneous storage, and an aft passenger vacuum lavatory Exterior Airframe overall Matterhorn White with Gold and Blue Accent striping

www.AVBUYER.com

Inspections “B” and “2B” Insp C/W February 2010 (2,869 Hours) “C” and “2C” Insp C/W May 2010 (2,903 Hours) Wing Dry Bay Modification C/W May 2010 (2,903 Hours) Landing Gear Overhaul C/W May 2010 (2,903 Hours) Interior Refurbished November 2007 8 beige leather seats (forward and mid-cabin) 2 beige leather seats (aft cabin) 3-seat divan in beige leather (aft cabin) Custom beige carpet. Forward closet. Forward galley Fireblocked for Part 135 Operations Exterior White upper and Royal Blue lower fuselage with Gold and Burgundy accent stripes Options Airshow 400 Fwd LCD Monitor 18” and Rear Monitor 15”

Tel: +1 214 351 9595 www.mentegroup.com

Aircraft Index see Page 4

Northern Jet Lear 40XR January 20/01/2015 11:57 Page 1

S H O W C A S E

2008 Learjet 40XR • Extended Range Fuel Serial Number: Registration: Airframe TT: Landings:

40-2100 N959RP 3,612 2,924

• Smart Parts Airframe Factory Warranty Smart Parts Engines Left Engine 3,617 / Right Engine 3,625 MSP Gold Avionics • Honeywell Primus 1000 Integrated Flight • Director & Autopilot System • 4-tube 8x7” EFIS • Dual Universal UNS1 L FMS • Dual Comm radios with 8.33 Capabilities • Honeywell HF 1050 Comm • Dual Nav and RMI • Dual Mode S Transponders • Dual DME • Single ADF • Honeywell TCAS II • Honeywell Mark VII EGPWS • Honeywell Primus Radar 660 • ARTEX 406 Emergency Locator Transmitter

• Cockpit Voice Recorder • Radio Altimeter • XM Satellite Weather Exterior Overall Matterhorn White with Blue and Yellow Stripes Interior Fire-blocked Six passenger executive interior in a center club configuration with an aft belted seat for a seventh passenger. Two Left and one Right executive tables with Imbuia gloss inlays in the center club. Seating is finished in Almond Crunch leather with Surfside lower sidewalls and finished Imbuia wood gloss laminate Optional Equipment • Freon Air Conditioner • AOA w/Indexer • Iridium Satellite Flight Phone • Cabin/Cockpit Fire Extinguishers • Interior 110V AC • Lead Acid Battery • Tail Cone Flood Lights • RVSM Capable • Airshow Cabin Audio/Video System • XM Satellite Radio • Extended Range Fuel Aircraft Management Services Available

Northern Jet Management Gerald R. Ford International Airport 5500 - 44th Street, SE • Grand Rapids, MI 49512

Advertising Enquiries see Page 8

www.AVBUYER.com

Tel: 800 462 7709 Tel: +1 616 336 4737 Cell: +1 616 648 2656 Fax: +1 616 336 4709 mserbenski@northernjet.net www.northernjet.net February 2015 – AVBUYER MAGAZINE

143

Aero-Dienst January_Heeren Cit Ultra sep 21/01/2015 12:50 Page 1

S H O W C A S E

2008 Cessna CJ3 Serial Number: Airframe TT: Landings:

525B-0287 1632 1419

Aero-Dienst is pleased to present this cute CJ3 for immediate sale: • Low Time • ProParts • JSSI Premium • TCAS II • Steep Approach • EU-OPS 1 • One Owner Since New Engines 2 Williams FJ44-3A (on JSSI Premium Program) L/H: S/N 141643 R/H: S/N 141596 TSN: 1620 hrs TSN: 1632 hrs CSN: 1405 CSN: 1419 Avionics and Other Features Collins Pro Line 21 Integrated Avionics System with 3- Tube EFIS COM: Dual Collins VHF-4000 Transceivers w/ 8.33 kHz spacing SATCOM: Iridium Satphone NAV: Dual Collins Navigation Receivers (NAV-4000 & NAV-4500) w/ FM Immunity DME: Dual Collins DME-4000 ADF: Single ADF Integr. in NAV-4000 ADC: Dual Collins ADC-3000 Air Data Computers AHRS: Dual Collins AHC-3000 AHRS FGC: DUAL Collins FGC-3000

ALT: Collins ALT-4000 Radio Altimeter FMS: Dual Collins FMS-3000 w/DualCollins GPS-4000A FSU: Collins FSU-5010 Electronic Charts XPDNR: Dual Collins TDR-94D Mode-S Diversity Transponders w/ Enhanced Surveillance capability WXR: Collins WXR-852 Radar TAWS: Honeywell Mark V EGPWS (Class A) w/RAAS TCAS: Collins TTR-4000 TCAS II w/ Change 7 FDR: L-3 FA2100 SSFDR CVR: L-3 FA2100 SSCVR ELT: Artex C406-N ELT w/ 406 MHz and Nav. Interface Additional Equipment RVSM certified MNPS approved Jeppesen Electronic Charts Avionics Ground Power Switch Cockpit Speaker Mute Switch Maintenance Diagnostic Computer MDC-3110 Cabin Tastefully finished in light and medium shades of Grey with high gloss wood veneer cabinetry and trim. The Executive fireblocked interior is configured for up to 7 passengers with 4-place center-club arrangement, two fwd facing seats aft and an aft L/H belted flushing toilet sear. Very good condition Exterior Overall White with long waved Marine Blue and Grey accent striping from nose to tail Asking Price: US$4,950,000

Aero-Dienst GmbH & Co. KG, Flughafenstrasse 100 90411 Nuernberg Germany

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AVBUYER MAGAZINE – February 2015

www.AVBUYER.com

Tel: +49-911-9356-120 Mobile: +49-171-4950309 E-mail: armin.hoehnemann@aero-dienst.de www.aero-dienst.de Aircraft Index see Page 4

J Hopkinson 2 December 18/11/2014 12:44 Page 1

Cessna Citation Ultras

19 Sold 6 Remaining that Must Be Sold!

AVIONICS Honeywell Primus 1000 3 - Tube EFIS Honeywell Primus GNS-XL FMS System Honeywell MKVII EGPWS Honeywell TCAS II w/Change 7 L3 Cockpit Voice Recorder Global-Wulfsberg AFIS

INTERIOR Seven Passenger Interior & Belted Lav Seat Aft Tailcone Baggage w/Ski Tube. Zephyr Air Conditioning. Recently refreshed Interior EXTERIOR Recently completed Permaguard sealed Exterior

MAINTENANCE Fresh Phase 1 - 5 completed by Landmark, Scottsdale Zero Engine Option

follow us on twitter@HopkinsonAssoc Tel: (403) 291 9027 Fax: (403) 637 2153 sales@hopkinsonassociates.com www.hopkinsonassociates.com

1441 Aviation Park NE, 2nd Floor, Box 560, Calgary, Alberta, T2E 8M7

Heli UK November_Layout 1 22/10/2014 12:45 Page 1

NBAA Conference_Layout 1 20/01/2015 11:19 Page 1

D E D I C AT AT E D T O H E L P I N G B U S I N E S S A C H I E V E I T S H I G H E S T G O A L S .

NBA A INTERN NBAA INTERNATIONAL ATIONAL OPERATORS CONFERENCE MARCH 23 – 26, 2015

SAN ANTONIO, TX

Dedicated to Keeping Business Aviation Flying Around the Globe NBAA’s International Operators Conference (IOC2015) is the single best venue to gain the latest operational, regulatory, safety, environmental and cultural information that is critical to the safe operation of business aircraft in the international arena. 2015 NBAA International Operators Conference Highlights include: 9 A Dedicated Safety Day – Featuring NTSB board member Robert Sumwalt highlighting critical issues and identifying threats and errors while reviewing international best practices 9 Region-Specific Content – with sessions addressing operational requirements and near-term avionics mandates in every ICAO region around the world 9 Networking – with world-renowned training providers, handlers, international trip planners and hundreds of operators who fly globally 9 Industry Recognized Experts and Programming – will address the latest safety, operational, regulatory, environmental and cultural considerations from the NTSB, EASA, CBP and others

REGISTER ONLINE TODAY: www.nbaa.org/ioc/world REGISTER BY MARCH 2 FOR THE MEMBER RATE OF $1,225 Non-Member price after March 2 is $1,775

P148-150 22/01/2015 10:34 Page 1

Marketplace Gulfstream V

Capital Jet Group Price:

$19,900,000

Year:

2001

S/N:

640

Reg:

N600JD

TTAF:

6136

Tel: +1 (703)-917-9000 E-mail: sales@capitaljetgroup.com 2 U.S. corporate owners since new, RR CorporateCare, PlaneDeck cockpit upgrade w/FMS 6.1 software, electronic charts, WAAS, ADS-B out, & XM-WX. Dual lavs, forward crew rest area, HUD/EVS, DFDR, 2010 paint & 13 pax fireblocked interior

Location: USA

Hawker 800SP

Capital Jet Group Price:

$1,550,000

Year:

1993

S/N:

258241

Reg:

XA-CHA

TTAF:

5975

Tel: +1 (703)-917-9000 E-mail: sales@capitaljetgroup.com MSP GOLD for engines. API winglets for added range and performance. 2011 paint. 2013 48 month inspection. Global AFIS. Aircell Iridium satphone. Dual GPS. Digital FDR. HF. TCAS 2000 8 passenger interior with DVD/CD/Airshow system with dual monitors. Landings: 5154

Location: USA

Gulfstream IV

Milenium Air Servicios Aereos Integrados SA de CV Price:

USD$4,200,000

Year:

1988

S/N:

1059

Reg:

N271PS

TTAF:

8843:45

Location: Mexico

Fairchild F300

USD$650,000

Year:

1984

S/N:

518

Reg:

XA-CMT

TTAF:

7691:07

Location: Mexico

Citation Bravo

Jack Schafer Price: Year:

1999

S/N:

550-0892

Reg:

N22GR

TTAF:

890

Location: USA

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AVBUYER MAGAZINE – February 2015

Airframe:8843:45 Total airframe time.3523 Total airframe landings. Engines:Model: Rolls Royce TAY MK 611-8 Left: Serial number 16621 8650:21 Total time.3418 Total cycles. Right:Serial number 16238.8617:15:00 Total time.3401 Total cycles. PLAN: JSSI. APU. Model:Honeywell GTCP 36-100G.Serial number: P399.6150 Total time. Interior Fourteen passenger fire blocked interior was updated in 2003. A mid‐cabin double club arrangement is complimented by a forward right hand curved 3-place divan opposite

Milenium Air Servicios Aereos Integrados SA de CV Price:

www.AVBUYER.com

Tel: +52 1 554 880 2924 E-mail: mgarcia@mileniumair.mx

Total airframe cycles since new: 5526, A,B,C & D Checks complied on July 2014. All SB´s & AD´s up-to-date, Max operating speed: 265 knots (up to 24 300 feet) Range: 1938 NMI (2231 MI, 3591 KM) With six occupants, at 26 000 feet, Rate of climb: 2650 ft/min, Passenger capacity: 8 passenger + 2 crew members, 9 passengers + 1 crew member, Perfect Condition, No damage history since new, All maintenance accomplished by authorized service centers

Tel: +1 (949) 887-3431 E-mail: SchaferAircraft@att.net Landings: 1090. No Damage History. Ext: Overall Off White with Black, Gold and Copper Stripes. Int: Fire blocked sevenpassenger interior with light tan seats in a center club configuration. Aft belted potty. RH and LH executive tables done in Gloss Babinga, forward refreshment center. Avionics: Honeywell Primus 1000 8” x 7” 3 Tube Efis Honeywell Primus 1000 Integrated Flight Director Honeywell Primus II w/ RCZ833E Comms w/ 8.33 khz spacing. Dual Honeywell RNZ-850 Navs. Maintenance: Phase 1-4 inspection May 20, 2014. Phase 5 Inspection completed April 30, 2012

Aircraft Index see Page 4

P148-150 22/01/2015 10:35 Page 2

Marketplace Learjet 36A

Leonard Hudson Drilling Price:

US $1,695,000

Year:

1977

S/N:

36A-030

Reg:

N160GC

TTAF:

15,600

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

Learjet 36A, Long range capability, as configured 2,400 nautical miles. Can be upgraded to 2,600 mile range. Recent paint and interior, RVSM. Competitively priced at $1,695,000 USD, may trade on helicopter

Location: USA

BELL 206L4

Leonard Hudson Drilling Price:

Please Call

Year:

2002

S/N:

52265

Reg:

N339MG

TTAF:

1700

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

We are offfering our 2002 Bell 206 L4. Pictures do not

do justice to the helicopter, and the colors are very vibrant, it is ready for immediate work. It has had both a Bell/Edwards completion and maintenance with immaculate records, of course no damage of incidents. 1700 TTSN, Two corporate owners.

Location: USA

BELL 412EMS

Leonard Hudson Drilling Price:

US $3,875,000

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

Hawker Beechcraft 800XP

RVC Aviation LLC Price:

Make offer

Year:

2003

S/N:

258642

Reg:

N279CF

TTAF:

1682

Tel: +1 (469) 556 9915 E-mail: rcampbell555@yahoo.com 8 Passenger configuration in Beige leather. Forward 4-place club with rear 3-place divan, right side, opposite a forward facing seat & closet. High gloss veneer cabinetry. Microwave & coffee maker. Entertainment center with Airshow 400, DVD/CD player with forward & rear screens

Location: USA

Advertising Enquiries see Page 8

www.AVBUYER.com

February 2015 – AVBUYER MAGAZINE

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P148-150 22/01/2015 10:35 Page 3

Marketplace Cessna Citation Jet

BAS Business Aviation Services GmbH Price:

$USD800,000

Year:

1998

S/N:

525-0279

Reg:

D-IGME

TTAF:

2.780

In and out in good condition !!! Engines: Williams RollsRoyce FJ44-1A with TBO 3.500 hrs (not enrolled on Engine Program). LH Engine SN: 1565 2.780 hrs and 3.145 cycles since new last HSI (unscheduled 2013 @ 2.488 hrs TT) RH Engine SN: 1568 2.780 hrs and 3.145 cycles since new last HSI (unscheduled 2013 @ 2.488 hrs TT). Avionics: DUAL 5” EFIS. 1 x Honeywell GNS XLS (FMS). 1 x Bendix King KLN 90B (GPS). 2 x Allied Signal KY 196B (COM 8.33 kHz spacing). Interior: (Refurbished 2013)

Location: Germany

Cessna King Air C-90

Tel: +44 (0)7795 687676 E-mail: LukeSutcliffe@jotaaviation.com

Jota Aviation Price:

$USD525,000

Year:

1977

Excellent Logs and Records, Operated under UK based EASA Ops AOC, Executive leather interior, UK AOC lease back option available.

S/N:

Landings: 6,649, LE: 3,507 hrs SNEW, RE: 3,507 hrs SNEW, Engine options available.

Reg: TTAF:

Tel: +49 (0) 7403 914 04 66 E-mail: sales@basjets.com

8,080:52

Location:

www.jotaaviation.com

Hawker 400XP

Tel: +49 (0)821-7003-100 Email: sales@beechcraft.de

Beechcraft GmbH Price: Year:

TSOH 723 hrs, TCAS II, C406-2 ELT, 2x TDR94-D Mode-S XPDR, HF-9000, TWS-850, ST-3100 SAT Phone, GoGo Biz WiFi, partly repainted / refurb. in 2013 - great condition!

2006

S/N: Reg:

TTAF:

3.396

Location:

Beech King Air C90B

Tel: +49 (0)821-7003-100 Email: sales@beechcraft.de

Beechcraft GmbH Price: Year:

EU-reg, Pro Line 2-Tube EFIS-84, C406-2 ELT, Garmin GPS400, 2x COM 8.33 KHz + VIR-32 NAV, 2x TDR-94 Elem. Mode-S XPDR (ID), TCAS/TAS, Raisbeck Exhaust Stack Fairings - top condition!

2004

S/N: Reg: TTAF:

3010

Location:

Par Avion Ltd

Alberth Air Parts

+1 832 934 0055

Spare Parts

FALCONS • HAWKERS • LEARS

•BUY •SELL •TRADE

www.paravionltd.com

CESSNA LEARJET HAWKER WESTWIND FALCON GULFSTREAM

www.alberthaviation.com

SALES • ACQUISITIONS • CONSULTING

Fax: +1 832 934 0011 150

AVBUYER MAGAZINE – February 2015

www.AVBUYER.com

Aircraft Index see Page 4

D E D I C AT E D T O H E L P I N G B U S I N E S S A C H I E V E I T S H I G H E S T G O A L S .

NBAA REGIONAL FORUM FEBRUARY 19, 2015 â&#x20AC;˘ WEST PALM BEACH, FL PALM BEACH INTERNATIONAL AIRPORT (PBI) The 2015 NBAA Regional Forum brings current and prospective business aircraft owners, manufacturers, customers and other industry personnel together to get critical business done. At the West Palm Beach Regional Forum, attendees will have access to: Over 80 exhibitors showcasing their latest products and services Nearly 20 business aircraft on static display Education sessions on topics relevant to aircraft owners and operators Networking with peers, along with new and existing vendors and suppliers

SAVE THE DATE: www.nbaa.org/forums/avbuyer

P152 20/01/2015 16:06 Page 1

3-5, 2015 MARCH o, Fl Orland

V I S I T US AT HELI EXPO - BOOTH

Attorneys for business aviation.

Purchase, sale, lease and finance contract support for owners and operators.

Tax structuring and compliance.

Federal regulatory compliance.

Dispute resolution.

Wiley Rein LLP

Washington, DC

#471 9

Northern Virginia

www.wileyrein.com/aviation

152

AVBUYER MAGAZINE – February 2015

www.AVBUYER.com

Aircraft Index see Page 4

P153 22/01/2015 17:00 Page 1

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February 2015

AvBuyer (USPS 014-911), February 2015, Vol 19, Issue No 2 is published monthly by AvBuyer Ltd, 1210 West 11th Street, Wichita, KS 67203-3517 and has a targeted circulation to decision makers within business and corporate aviation throughout the world. It is also available on Annual Subscription @ UK £40 and USA $65. POSTMASTER: Send address changes to: AvBuyer Magazine 1210 West 11th Street, Wichita, KS 67203-3517. Postage is paid at Wichita, KS and additional mailing offices © Copyright of AvBuyer Ltd. Every effort is made to ensure the accuracy of material published in AvBuyer Magazine. However, the publishers cannot accept responsibility for claims made by manufacturers, advertisers or contributors. The views expressed are not necessarily those of the Editor or the publishers. Although all reasonable care is taken of all material, photographs, CD & DVDs submitted, the publishers cannot accept any responsibility for damage or loss. All rights reserved. No part of AvBuyer Magazine Advertising, Design or Editorial - may be reproduced, stored in a retrieval system, or transmitted in any other form, or by any other means, electronic, mechanical, photographic, recording or otherwise, without prior written permission of the publishers.

Copy date for the March 2015 issue - Wednesday 11th February 2015 Advertiser’s Index 21st Century Jet Corporation ...............................154 ABACE.......................................................................120 Aero-Dienst ...............................................................144 AeroSmith/Penny............................................130-131 AIC Title Services .......................105, 107, 109, 111 AMAC ...........................................................................65 AMSTAT .....................................................................126 Aradian Aviation ..........................................................72 AvBuyer 1 ....................................................................89 AvBuyer 2 ..................................................................124 Aviation Advisors .....................................................141 Avjet Corporation .........................................FC, 32-35 Avpro ......................................................................10-14 Bell Aviation ..........................................................68-69 Bombardier..................................................................59 Boutsen Aviation ........................................................83 CAAP..........................................................................137 Central Business Jets .............................................155 Charlie Bravo...............................................................37 Conklin & de Decker ...............................................152 Corporate AirSearch Int’l .......................................140 Corporate Concepts .................................................41

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AVBUYER MAGAZINE – February 2015

Dassault Falcon Jet Europe....................................2-3 Duncan Aviation ..................................................25, 63 Eagle Aviation..............................................................43 EASTUNION ............................................................138 EBACE.......................................................................127 Elite London ..............................................................128 Elliott Jets .............................................................38-39 Florida Jet Sales ......................................................136 Freestream Aircraft USA....................................19-21 Gamit..........................................................................119 General Aviation Services ........................................47 Global Jet...............................................................44-45 Hagerty Jet Group ..........................................134-135 Heli UK Expo ............................................................146 Intellijet International .................................................6-7 Jet Support Services (JSSI)..................................113 JetBlack ........................................................................85 JetBrokers..............................................................94-95 Jetcraft Corporation....................................52-53, BC Jeteffect ........................................................................73 JETNET.........................................................................78 Jet Sense Aviation/Gantt Aviation...............132-133

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John Hopkinson & Associates........................77, 145 Leading Edge Aviation Solutions............................97 Lektro..........................................................................119 Mente Group ............................................................142 Mesinger Jet Sales ..............................................60-61 NBAA Regional Forum ...........................................151 NBAA IOC ................................................................147 NFS Advisors ...........................................................152 Northern Jet Management .....................................143 OGARAJETS........................................................26-27 Par Avion......................................................................59 Rolls-Royce..................................................................57 Southern Cross Aviation...........................................79 Survival Products.....................................................119 Tempusjets...................................................................51 The Jet Business ........................................................31 VREF Aircraft Values ..............................................152 Waked Jayyousi........................................................139 Welsch Aviation........................................................129 Wentworth Aviation ...................................................75 Wiley Rein .................................................................152 Wright Brothers Aircraft Title ................................115 Aircraft Index see Page 4

21st Century December 18/11/2014 16:03 Page 1

Tri-Jets have earned a stellar reputation among owners and operators and usually command higher resale values than the competition. With efficient space management the Falcon 900 aircraft have a larger passenger seating area than the Gulfstream IV. These Tri-Jets weigh 15 tons less and are 22 feet shorter, providing a more beneficial ramp presence. The 900EX can speed across the Atlantic with all seats full at 0.84 IMN; and has 300 NM greater range than the Gulfstream IV-SP. Furthermore, the 900EX can fly from London to Kansas City, Buenos Aires to New Orleans and Anchorage to Seoul at 0.75 IMN with eight passengers and NBAA IFR reserves. Revolutionary and the world's first purpose built fly-by-wire (FBW) business jet, the Falcon 7X capitalizes on Mach 2 technology.

AVAILABLE: FALCON 900B

WANTED: FALCON 50 WITH -3D-1D ENGINE UPGRADE

If you are considering the sale or acquisition of your business jet, call 21st Century Jet Corporation today for details before making a decision.

DISTINCTIVE BUSINESS JET SALES & ACQUISITIONS. INCORPORATED IN 1989 TEL: 1.775.833.3223

INTERNET: WWW.TRI-JETS.COM

E-MAIL: sales@tri-jets.com

CBJ December_CBJ November06 18/11/2014 16:05 Page 1

General Offices

Mexico office

Minneapolis / St. Paul

TEL: 52.55.5211.1505

TEL: (952) 894-8559

CELL: 52.55.3901.1055

FAX: (952) 894-8569

E-MAIL: Enrique CBJets.com

EMAIL: INFO@CBJETS.COM

Celebrating 30 Years!

FALCON 900B SN 67

GULFSTREAM G200 SN 199

Spectacular Honeywell EPIC Cockpit Upgrade, MSP Gold Engines, Upgraded Interior, Owners New Global Express Arriving Shortly

1960 TT / 1040 Landings, ESP Gold, Meets all EASA / JAR OPS Requirements, Impressive List of Options including Aerial View Camera

FALCON 900B SN 155

CITATION X SN 37

Always US Owned, 6400 TT, MSP Gold, Forward & Aft Lavs, Dual Aft Couches

Single Midwestern Owner, Chairman Flown, Citation Factory Services, Rolls Royce Corporate Care, Aircell AGT-5000 with WIFI, New Replacement Aircraft Has Arrived

FALCON 50-40 SN 25

CITATION SOVEREIGN SN 156

Last Falcon 50 Ever to be Multi-million Dollar Converted, Proline 21 cockpit, TFE-40 Engines on MSP Gold, 50EX Interior New 2010

Trades will be considered, Meets all US and EASA/JAR OPS Requirements, On Cescom, 9 Place Interior tastefully appointed

FALCON 50 SN 177

FALCON 20F SN 470 - FALCON 900C ENGINES & APU MOD

Just over 5000 Hours TT, Upgraded 3D MSP Gold Engines, Recent New Interior from Window Ledges down including Seats, Cabin Switching, Carpet, Airshow 4000, External View Cameras, etc.

7827 TT / 5009 Landings, MSP Gold, Collins Proline II EFIS Cockpit, Dual Collins Radio Tuning Units, Dual Universal 1Lâ&#x20AC;&#x2122;s w/WAAS, ETC

www.cbjets.com ALSO AVAILABLE: Falcon 900EXy SN238 (Lease Only)

As anyone in aviation knows,

TURBULENCE is an art.

Buying and selling aircraft can be a bumpy business. But for over 50 years, we’ve earned a reputation for delivering the smoothest ride, as well as the best deal. We did it by building our business entirely around our customers’ needs. With transaction specialists who really know aircraft and markets, and an unmatched global network of partners. The result? Faster, easier transactions and lots of repeat clients. So call us and relax. You’ve got the best navigator around. www.jetcraft.com I info@jetcraft.com I Headquarters +1 919-941-8400

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

FEATURED INVENTORY

2002 AIRBUS A320VIP - SN 1868

26,732 Hours; 9,624 Cycles - Enrolled on CAMP Entered Service October 2002 - Located in Paris

Photo Rendering

2014 GLOBAL 6000 - SN 9601

Ready for Inspection & Acceptance in Dec 2014 17 Passengers with Global Office and Crew Rest

2-2015_AV Buyer_Back Cover_Turbulence.indd 1

2015 GLOBAL 6000 - SN 9620

File Photo

2015 Delivery - Trades Encouraged A Natural Transition from your Global 5000 2010 Agusta A109 Power 2001 Airbus A319CJ 2007 Challenger 604 2010 Challenger 605 2008 Challenger 850 2002 CRJ 200LR 2011 Falcon 2000LX 1989 Falcon 900B 2004 Falcon 900EX EASy

Download the

2009 Global 5000 2012 Global 6000 2010 Global XRS 2005 Gulfstream 550 1998 Gulfstream IVSP 1991 Hawker 1000B 2007 Lear 45XR 2004 Lear 60SE 2007 Legacy 600

2003 GLOBAL EXPRESS - SN 9117 Exceptional One Owner Pedigree No Expense Spared Maintenance

2013 CITATION XLS+ - SN 560-6138

8 Passenger; Life Raft - Airframe on ProParts Engines on Power Advantage+

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AVOIDING

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