AvBuyer Magazine February 2016 by AvBuyer Ltd.

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AVBUYER February 2016

™

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 proudly presents

Gulfstream G550 Serial Number 5135 See pages 15 - 17 for further details

Aircraft Comparative Analysis – Airbus AS350-B3 Flight Planning: Election Year TFRs Plane Sense on Engines www.AVBUYER.com

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Editor’s

Welcome

Challenges or Opportunities: You Decide.

t is said that races are won in the curves. If that be so—and drivers at Le Mans as well as pilots who compete for top honors at Reno support that assertion—the months ahead may be filled with great opportunities for those who are skilled at negotiating the curves of buying and selling business aircraft. There are great deals to be had on great aircraft in today’s volatile economy. Emerging markets that exhibited a strong appetite for business aircraft only a few years ago now seem intent on divestiture. In established markets such as Europe, the specter of economic uncertainty has slowed buying decisions and possibly encouraged some to sell, and political situations in the Middle East present their own dynamics. While the USA still enjoys the world’s strongest economy, its operators often choose to be conservative regarding acquisitions when the headlines are dominated by troubling news and the aftertaste of stocks falling precipitously during the first few weeks of 2016 still lingers. When one party feels a need to sell, regardless of the reason, potential buyers have an advantage. The astute operator or the professional retained to find a suitable aircraft senses when an operators has the urge to sell; thus good deals are there for the wellinformed who are able to keep their cool and work the ‘curves’. Anxiety often leads to poor decisions. If coping with pressure is not your strong suit, find an aviation professional well steeped in art of brokerage. Before making any move to sell, however, look comprehensively at the important role your business aircraft plays in the furtherance of your current business and how the mobility of Business Aviation provides unique benefits to your company and its shareholders. Project what your company will be able to achieve by retaining access to a business aircraft. While it may be tempting to convert the asset of a company aircraft into cash and therefore eliminate costs required to operate a 4

AVBUYER MAGAZINE – February 2016

Flight Department, quite often the loss of such capability is damaging to the firm’s bottom line. A kneejerk reaction to aircraft divestiture can be costly and counterproductive. So be careful—and thoughtful. Nevertheless, some operators are intent on selling. Thus opportunities abound for buyers. Today’s market for business aircraft may not be for the faint of heart. For buyers and sellers with the best intelligence and the confidence to act on their knowledge, opportunities are indeed real.

In This Issue

Whether buying, selling or operating business aircraft, intelligence is the secret sauce of good decision making - thus AvBuyer is dedicated to providing its readers with the timeliest, most relevant and useful information we can collect and communicate in print and electronically. For example, Rollie Vincent provides a particularly comprehensive yet easily digested look at today’s market in AvBuyer’s Market Indicators section. Based upon his decades as a successful aircraft broker and industry activist, Jay Mesinger offers his perspectives on a market he defines as recovering, and we summarize two provisions within the recently passed PATH Act of 2015 that offer opportunities to aircraft buyers. Our Boardroom editorial section captures why business aircraft are unique and very powerful business tools while our Flight Department editorial addresses the informational needs of aviation professionals responsible for managing the aviation function and staying abreast with the latest developments in aviation connectivity. AvBuyer provides Intelligence and Need-to-Know editorial designed to help aviation professionals and their companies win. Jack Olcott Editorial Director & Publisher AvBuyer Your source for Business Aviation Intelligence www.AVBUYER.com

EDITORIAL Editorial Director / Publisher J.W. (Jack) Olcott 1- 201 572 9284 Jack@avbuyer.com Commissioning & Online Editor Matthew Harris 1- 800 620 8801 +44 (0)208391 6777 Editorial@avbuyer.com Editorial Contributor (USA Office) Dave Higdon Dave@avbuyer.com Consulting Editor Sean O’Farrell 1- 800 620 8801 +44 (0)20 8391 6779 Sean@avbuyer.com ADVERTISING Linda Blackburn (USA Sales) 1- 614 418 7064 Linda@avbuyer.com Lise Margin (USA Sales) 1-703 818 1024 Lise@avbuyer.com Maria Brabec (European Sales) +420 604 224 828 Maria@avbuyer.com Karen Price 1- 800 620 8801 +44 (0) 208391 6774 Karen@avbuyer.com STUDIO/PRODUCTION Helen Cavalli / Mark Williams 1- 800 620 8801 +44 (0)208391 6776 Helen@avbuyer.com Mark@avbuyer.com CIRCULATION Barry Carter 1- 800 620 8801 +44 (0)208391 6770 Barry@avbuyer.com AVBUYER.COM Michael Myburgh Michael@avbuyer.com Emma Davey Emma@avbuyer.com MANAGING DIRECTOR John Brennan 1- 800 620 8801 +44 (0)208391 6771 John@avbuyer.com USA OFFICE 1210 West 11th Street, Wichita, KS 67203-3517 EUROPEAN OFFICE Trident Court, 1 Oakcroft Road, Chessington, Surrey, KT9 1BD, UK +44 (0)20 8391 6770 PRINTED BY Fry Communications, Inc. 800 West Church Road, Mechanicsburg, PA 17055

Mechanicsburg, PA 17055

Aircraft Index see Page 161

Swiss Excellence in Business Aviation

Corporate and private aircraft maintenance, refurbishment and completion services. Located at Basel EuroAirport, Switzerland.

AMAC Aerospace Switzerland AG Telephone + 4 1 58 310 31 31 Henric Petri -Strasse 35 info@amacaerospace.com 4051 Basel, Switzerland www.amacaerospace.com

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Editorial Focus 36

Business Aircraft Finance Update: As we move into a New Year,

do the attitudes of lending

companies continue to soften?

High Flyer’s Interview: Did you hear the story of how Business

Aviation saved jobs? Virgina-based Luck Companies highlights the

importance of BizAv to its operations

80 Managing your Jet Engine Maintenance: Dave Higdon offers an introduction to Hot Section Inspections, Overhauls

and managing the downtime effectively

114

Comparative Analysis – Airbus AS350-B3 How does the Airbus (Eurocopter) AS350-B3 square up against Bell’s

LongRanger 206L-4? Find out here…

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Aircraft Index see Page 161

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February2016 Volume 20, Issue 2

Contents ❚ BizAv Intelligence

Business Aviation Market Summary: Market trends, indicators, assessments and forecasts, introduced by Rollie Vincent

FBO Market Analysis & Trends: Mike Chase and Marj Rose offer a global categorization of FBO revenue and service

Old Airplanes, New Expectations: Jay Mesinger highlights the need for buyers and sellers of older aircraft to establish an understanding of the cost of a great price

Tips to Minimize Engine Downtime & Expense: JSSI’s Timothy Ferrell highlights five key areas to help minimize avoidable engine maintenance problems

Creating a Flight Department (Part 9): Security planning is more important than ever… Fred Haap & Jack Olcott outline the role of the security manager

Safety - Flight Data Recorders: A costly cockpit implementation or a costly omission in smaller jets?

❚ Boardroom 58

Who ‘Owns’ the Aviation Department: David Wyndham outlines the master-key enabling the flight department to serve its many masters

Consultant – Small Word, Big Meaning: Jay Mesinger offers tips for sourcing the right expertise for your aircraft transaction

Planning a Business Aircraft Acquisition? Could you benefit from the provisions of the PATH Act passed by US Congress?

Insurance Issues for Aircraft Dealers & Clients: Adding a client’s aircraft to a broker’s fleet coverage may not be as simple as it seems! Here’s why…

❚ Flight Department 72

Avionics Connectivity (Part 2): Ken Elliott’s series unpacks the technology, integration & advances in aircraft connectivity, including providers and service

Advertising Enquiries see Page 4

TFRs & Election-Year Travel:

In US Election years, Temporary Flight Restrictions can pop up with little warning. Keep abreast of them - here’s how…

100

Retail Price Guide: 20-year Medium Jets price guide from The Aircraft Bluebook

104

Specifications: Medium jets performance and specifications comparisons

❚ Community 120 BizAv Review: The Politics of

Business Aviation, OEM Bites, Association News, Arrivals & Events

Next Month

Aircraft Comparative Analysis GAMA Year-End 2015 Analysis Helicopters & Executive Transportation

BUSINESS AVIATION INTELLIGENCE

www.AVBUYER.com

February 2016 – AVBUYER MAGAZINE

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EXCLUSIVELY OFFERED BY AVJET CORPORATION

AIRCRAFT FOR SALE

2006 BBJ S/N 34683

1997 Gulfstream GV S/N 516

2006 Gulfstream G550 S/N 5106

2006 GEX XRS S/N 9215

1999 Hawker Beechcraft 800XP S/N 258428

2002 Gulfstream G200 S/N 68

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BIZAV INTELLIGENCE ❚ MARKET INDICATORS

Business Aviation Market Summary

A Medley of Industry Trends, Analyses, Reports and Data Within the Business Aviation community February is earnings season,

notes Market Indicators Editor Rollie Vincent. It’s a time when year-end

reports begin to flow in, providing us with additional clarity on the state of the industry… So what can we see so far?

Rollie Vincent is President of Rolland Vincent Associates. His aviation market analysis is second to none, and he is the creator/director of the JETNET iQ program. With a solid background in market research, economics and statistics, he has more than 30 years of experience in business, regional and international aviation, including positions with Bombardier, Cessna, Learjet, Flexjet, and ICAO. Contact him via rvincent@rollandvincent.com

bsent some of the key ingredients – for example GAMA does not report its year-end new aircraft shipment and billing numbers until February 10 – the view into our 2016 crystal ball is necessarily a little blurry. Nevertheless, there are a number of indicators that should point us in the right direction. Overall, new business aircraft deliveries in 2015 were flat year-over-year, which is consistent with our forecasts. Companies that jumped on the ‘globalization’ bandwagon might be surprised to learn that the US market remains far and away the leading source of sales activity, for both new and pre-owned jets. In fact, the share of new business jets delivered to US-based customers has been rising steadily each year since the Great Recession, and represented about 65% of the world total in 2015.

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Industry Optimism

Optimism regarding the state of the Business Aviation industry remains highest among US business aircraft owners and operators. Sixty-eight percent of North American respondents to the Q4 2015 JETNET iQ Survey (about 95% of whom are US-based) believe that the industry is on the upswing in the current business cycle, outnumbering pessimists by almost 5-1 (see Chart A, opposite). Many prospective sellers of pre-owned business jets are ‘on-shoring’ their aircraft to the United States in search of the next owner. Highly-specified large cabin aircraft with relatively low-time are flocking to the US, especially from the so-called emerging markets. The once ‘all-powerful’ BRIC economies are being buffeted by macroeconomic forces that are as unique as their cultures, but that have some common characteristics, including weaker currencies, Aircraft Index see Page 161

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lower commodity prices, and diminished investor and consumer confidence.

Pre-Owned Market Assessment

CHART A: Where is Business Aviation in the Current Business Cycle? Business Aircraft Owner/Operator Sentiment (Q4 2015 JETNET iQ Survey, 515 respondents in 64 countries)

What’s ahead in 2016?

CHART B: What is the State of the Pre-Owned Business Jet Market? For-Sale Inventory and Days on Market (source, JETNET)

Pre-owned business jet transactions in 2015 represented about 11% of the in-service fleet, down somewhat from a year ago. Transactions appear to be taking less time to close (down about 30 days to 315 days on average for aircraft that were sold last year), although this is still longer than in the days before the Great Recession. In the closing months of 2015, there was a slight uptick in the inventory for sale, measured both in number of aircraft and the percentage of the fleet that is for sale (11.6%), see Chart B. The year 2015 witnessed the continuing softening of the large cabin business jet market, with numerous reports of reduced sales activity from a variety of sources. As the year came to a close, signs of sluggishness in the large cabin segment – including announcements about lower 2016 production rates, unsold “white-tails”, and soft pricing – were very apparent. Reduced residual values across most business jet models were some of the biggest developments in 2015. A classic sign of excess supply, lower residuals have been taking some of the clear-coat shine off of business aircraft. Lower residual values are also a discouraging reality to prospective new aircraft buyers, who may have anticipated having more equity in their aircraft to support the purchase of another. About 27% of owners/operators responding to the Q4 2015 JETNET iQ Survey indicate that concerns over residual values have delayed their purchase of a new or pre-owned aircraft in the past two years. Despite the somewhat blurry crystal ball, we believe that net orders for new business jets will be lower in 2016 than 2015, held back by on-going weakness in demand from customers in emerging markets and those that have become accustomed (and probably a bit dependent) to higher commodity prices. This includes markets like China, Brazil, Russia, South Africa, Nigeria, Australia and Canada. Pre-owned whole retail transactions were down about 5% in 2015 year-over-year (YOY), on the back of a very slow Q4 (which was down about 20% YOY). This points to even lower prices in 2016, as the buyer’s market continues. We expect that new business jet deliveries in 2016 will be up modestly across the entire industry, driven by recent certifications and the ramp-up in production of newer models like the Citation Latitude, Legacy 450/500, Challenger 650, and HondaJet. This will be offset by lower shipments of several other models (Global 5000/6000, G450/G550, Falcon 7X, Citation M2, Citation XLS+) that are at later stages in their product life cycles. MI www.rollandvincent.com Advertising Enquiries see Page 4

continued on page 24

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BIZAV INTELLIGENCE ❚ MARKET INDICATORS

BizAv Activity - US & Canada December Business Aviation flight activity posted its normal month-over-month seasonal decline, finishing the period down -2.5% from November. Year-overYear flight activity (December 2015 vs. December 2014) shows December 2015 with an increase of 2.6%... Month-over-Month, results by operational category were down for December 2015. Part 91 operators recorded the largest decrease, down -3.9%. The Part 135 market recorded a monthly drop of -0.3%, while the Fractional market saw a decrease of -2.7%. Looking at aircraft categories, the turboprop market posted the only monthly increase from November, up 0.2%. The large and mid-size cabin markets posted decreases of -5.3% and -3.9% respectively, while small cabin aircraft posted a drop of -2.9%. The only monthly gain occurred in the Part 135 turboprop segment, up 2.4% from November.

Year-Over-Year

TRAQPak data indicate that December 2015 posted an increase of 2.6% over December 2014, capping off a year that saw 11 of 12 months gain from 2014 for an overall Year-over-Year increase of 2.1%. The results by operational category in December 2015 saw significant increases in the Part 91 market, and an overall

increase of 4.9%. The Part 135 market followed with a slight increase of 0.5% from December 2014. The Fractional market was back in the red, down -0.5%, however. Flight activity by aircraft category was positive across the board, with turboprops leading the way, up 5.3% (the 10th consecutive Year-over-Year increase for the

turboprop market. Small and mid-size cabin aircraft posted yearly flight activity gains of 1.4% and 0.3% respectively. The largest Year-over-Year gain for an individual segment occurred in the Part 91 turboprop segment, which saw an increase of 9.1%. MI www.argus.aero

BizAv Activity - Europe There were 51,563 Business Aviation departures in Europe in December 2015, the low point in the year but a 1.7% increase in YOY activity. This took the final 2015 trend to -0.6%, equivalent to 4,866 fewer flights than in 2014. The boost for December’s activity came from Piston activity, which increased 28% YOY, and ended the year up by 5%. Business jet activity, accounting for 60% of all Business Aviation flights in Europe, declined by 4% for December, with full year jet activity down by -2.5%. Aggregate Business Aviation activity in December saw solid growth across most of Western Europe, especially in Germany, where 27% of flights are Piston-operated. There was also strong YOY activity growth in Spain, Austria and Sweden. The UK and France saw modest growth, firming up a slight recovery in activity this year. In December, AOC activity in the UK rose by more than 5%, but fell -3% in France. Private flight activity increased 16% in Spain, with 24

AVBUYER MAGAZINE – February 2016

AOC flights slumping -7% in Italy. Intra-European flights were up 3% for December, an improvement on the last 12 month trend of 1%. But flights from Southern and Eastern Europe continued to trend down. Europe’s Business Aviation connections with the CIS region fell -22%. Inbound flights from North America were down -2%, and flat overall for 2015. Flights from the Middle East slumped -12% but have a narrowly positive full year trend. Flights from Europe to Africa fell 15%, taking the 2015 trend to -9%. Ultra-long range jets maintained YOY growth throughout 2015, although the rolling 12-month average activity is declining. At the other end of the spectrum, light jet activity has stabilised in the back-end of 2015. Within this bracket, Q4 trend showed weakening demand for VLJs, with growth migrating to Entry Level Jets. MI www.wingx-advance.com

www.AVBUYER.com

continued on page 28

Aircraft Index see Page 161

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• One U.S. Owner Since New • Engines Enrolled on Honeywell MSP Gold • FANS 1/A, ADS-B Out, WAAS/LPV, TCAS 7.1 • HUD/EVS

• No.3 FMS & No.3 VHF COM • Aircell Gogo Biz Infl ight Internet System

• Engines enrolled on Pratt & Whitney ESP Gold • Enrolled on Rockwell Collins CASP • TCAS 7.1 • Gogo Biz ATG 5000 Broadband Internet

with Wi-Fi • Gogo Vision UCS-5000 On-demand In-flight Entertainment System • Dual Collins FMS 6100 • 12C (144mo) Inspection complied with 10/28/14

• $40k Credit for leather • Avionics Premium seats and some import fees Package • Now based in Opa • Build 8.8 Apex Locka, FL with Fresh Operational Software (SB Annual Inspection 46-012) • RVSM Capable, Coupled • Connected Flight Deck VNAV, and GPS WAAS/ with Wireless Fast Load LPV Functionality Option

Now Asking: $3,525,000 Landings: 943

FOR SALE

1994 Falcon 900B

2014 Citation X+

1999 Boeing BBJ Serial Number: 29865 Hours: 11,415 TTAF

Asking Price: $23,750,000 Landings: 3665

Serial Number: 513 Hours: 137 TTAF

Asking Price: $19,300,000 Landings: 94

Serial Number: 134 Hours: 5,077 TTAF

Asking Price: $6,290,000 Landings: 2,428

• Based in the U.A.E. • Operated on a commercial certificate • VVIP Configuration

• • • •

• Engines enrolled on Rolls Royce Corporate Care • ADS-B Out, TCAS 7.1 • Lightning Sensor System • Dual HF

• Aircell Aviator 300 high speed internet • Aircell Axess II Satellite Telephone • FDR

• Engines enrolled on Honeywell MSP Gold • APU enrolled on Honeywell MSP • Two Owners, Excellent Pedigree

• Professionally Maintained and Operated • Low Time/Cycles for Model-Year • WAAS/LPV Capable with (3) FMZ-2010 ver. 6.1

32 seats 5 auxiliary fuel tanks Empty Weight: 93,447.3 lbs Fwd Airstair system

FOR SALE

2007 Global 5000 Serial Number: 9158 Hours: 1,889 TTAF • Batch 3 Software Upgrade w/ FANS 1/A+ CPDLC and SBAS w/LPV Approach capability • Triple FMS • HUD & EVS

DEAL PENDING

2015 Gulfstream G280

2011 Gulfstream G550

Now Asking: $16,250,000 Landings: 755

Serial Number: 2079 Hours: 36 TTAF

Serial Number: 5316 Hours: 2,721 TTAF

• Triple CD-820 Control Display Units • Autopilot Emergency Descent Mode • Honeywell AIS-2000 Satellite TV

• Delivered October 9, 2015 • HUD/EVS • G280 FlightSafety Courses • WAAS/LPV, FANS 1/A, for 2 Pilot Initial and 2 RNP 4, ADS-B Out, Maintenance Initial included TCAS 7.1 • 9 Passenger Interior • Gogo Biz Broadband • Engines Enrolled on Internet Honeywell MSP Gold

Asking Price: $21,500,000 Landings: 10

SOLD: DECEMBER 2015

DEAL PENDING

• Engines enrolled on Rolls-Royce Corporate Care • APU enrolled on Honeywell MSP • ASC 910 w/ Enhanced Navigation

Landings: 838 • TCAS 7.1, ADS-B Out, FANS 1/A, CPDLC Capabilities • Gogo Biz Broadband Internet and SwiftBroadband

ACQUIRED: NOVEMBER 2015

FILE PHOTO

2011 Gulfstream G200 Serial Number: 245 Hours: 862 TTAF • Engines Enrolled on Pratt & Whitney ESP Gold • APU Enrolled on Honeywell MSP Gold • Dual HF • 88 Parameter FDR • RAAS

Landings: 508

Falcon 2000EX EASy

1997 Falcon 50EX SOLD: DECEMBER 2015

SOLD: NOVEMBER 2015

• Dual Enhanced Mode S Transponders • Thrane & Thrane Aero SB Lite Swift Broadband high speed internet • 10 passenger configuration

WANTED AIRCRAFT

2009 Challenger 605

2001 Gulfstream V

FALCON 2000LX

• Immediate buyers— exclusive clients • Our clients pay our commission • Sellers will contract directly with our clients

GLOBAL 5000 (CLASSIC)

FILE PHOTO

Mesinger Jet Sales

+1 303 444 6766

FILE PHOTO

Fax: + 1 303 444 6866

jetsales.com

MarketIndicators Feb16.qxp_Layout 1 18/01/2016 16:19 Page 4

BIZAV INTELLIGENCE ❚ MARKET INDICATORS

Euro Travel Growth Continues Global on-demand private jet charter service Victor has released its first-ever industry report, ‘The Victor Private Jet Travel Report 2015’, identifying new industry trends and forecasts for key British, European and Russian/CIS BizAv markets. Findings include: Top three private jet travel markets: 1) France (generating 19.2% of flights); 2) Germany (15.4%); 3) UK (12.8%).

Summarizing the report’s findings, Victor founder and CEO Clive Jackson notes, "With private charter flights continuing to increase across Europe, particularly over the summer months, it is clear that more travellers - both in and outside of the traditional high- and ultra-high-net-worth jetsetter demographic - are saving time and maximising value by tailoring the private jet experience that suits their needs.” MI www.flyvictor.com

Busiest days for private jet travel: 1) 23rd May (Monaco Grand Prix-related, 2,221 flights); 2) 20th and 27th June (summer holidays begin, 2,160 and 2,319 respectively). Top three airports for high-season private jet travel: 1) Nice (France, 13,250 flights); 2) Olbia (Italy, 6,220); 3) Ibiza (Spain, 5,634). Europe’s most popular private jets by capability: 1) Light (capacity: 4-8 passengers); 2) Longer-range (capacity: 12-15 passengers). Top aircraft-type: King Air 200 (50,000 departures in 2014 alone). Europe’s three fastest-growing country flows: 1) Norway-Turkey (up 100%); 2) Turkey-Belgium (up 34.6%); 3) Norway-Italy (up 31%). Europe’s busiest private jet route: Paris-Le Bourget (France)-Geneva Cointrin International (Switzerland).

BizJet Accidents Fall in 2015 The latest AIN report reveals that the numbers of fatalities involving US-registered business jet accidents fell by more than 50% in 2015 compared to the previous year… Just 13 people perished in two fatal accidents involving Nnumbered jets, compared with 30 deaths in six accidents during 2014. According to the report, one of the two crashes last year was a mid-air between a Sabreliner flying under a military contract and a Cessna 172 (four fatalities). Meanwhile, the number of non-fatal mishaps last year increased threefold, rising from six in 2014 to 18 in 2015. Non US-registered business jets were also involved in more non-fatal accidents last year compared with 2014,

increasing from four to 11. While the number of fatal crashes remained at five, the number of fatalities fell from 19 in 2014 to 11 last year. Turboprops worldwide experienced more accidents and more fatalities last year than in 2014. According to preliminary data, 28 people died in 10 crashes of USregistered business turboprops last year compared with 24 deaths in nine crashes in 2014. Twelve crashes of non-USregistered turboprops last year resulted in 43 fatalities, compared with 35 deaths in eight accidents in 2014. MI www.ainonline.com

continued on page 30

The best aircraft for sale search anywhere, everywhere - on pc, smartphone and tablet. 28

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

BUSINESS AVIATION INTELLIGENCE

Aircraft Index see Page 161

Hatt & Associates February.qxp_Layout 1 18/01/2016 14:27 Page 1

2006 Gulfstream G200

S/N: 0150. Reg: EC-KCA 1,978.5 Hours since New

Honeywell Laserref V IRS Airshow 4000 Equipped with a Jump seat

Unique in Experience, Global in Scope. 2008 Hawker 900XP

S/N: HA-21. Reg: N889QS 4,823 Hours since New Airshow 410 AirCell ATG5000 High Speed Internet Enrolled on MSP Partial Interior Refurbishment May-2015 Paint Touch up in 2014

2009 Hawker 4000

S/N: RC-19. Reg: N163DK 1,448 Hours since New Block Point Inspections / Load 20 Mod-Output Completed Lump Inspections cw. Feb. 2015 Honeywell-Primus Avionics Suite

1-720-477-1204 hattaviation.com

2002 Hawker 800XP

S/N: 258592. Reg: N892QS 8,291.9 Hours since New Engines Enrolled on MSP ProLine 21 Avionics Suite AirCell ATG-5000 WiFi Landing Gear Overhaul Complete

MarketIndicators Feb16.qxp_Layout 1 18/01/2016 16:21 Page 5

BIZAV INTELLIGENCE ❚ MARKET INDICATORS

US Customers Return to Market Connecticut-based Forecast International projects that 9,237 business jets will be produced during the 10-year period from 2015 through 2024, in its latest study, “The Market for Business Jet Aircraft”. The value of production is estimated to be $248bn in constant 2015 US dollars, according to the study. Demand for longrange and large-cabin jets drove the business jet market in 2013 and 2014, while demand for light and mid-size jets was sluggish. In 2015, though, the market turned on its head. Economic slowdowns in key regions such as China, Latin America, and Russia resulted in weaker demand for larger jets. At the same time, demand has strengthened for light and medium jets due to improved sales in the US and the entry into service of several new aircraft models. The market for light and medium business jets is heavily concentrated in the US where, in recent years, economic uncertainty had resulted in considerable buyer hesitation. However, continuing improvement in the US economy, though slight, has begun to unlock latent demand for business jets among US customers. According to Forecast International senior aerospace analyst Raymond Jaworowski, "Sluggishness in the light and mid-size segments had been holding back overall growth in the business jet market. Continuing improvement in the US economy, though still somewhat weak, is resulting in funds that had been locked away in corporate vaults increasingly being used to acquire new business aircraft and other large capital assets." Meanwhile, robust demand is anticipated to soon return in the large-

In-Service Aircraft Maintenance Condition & Price An Asset Insight analysis conducted on December 30th covering 91 fixed-wing models and 1,910 aircraft listed ‘For Sale’ revealed an ‘Excellent’ overall Asset Insight Quality Rating. The analysis also revealed lower average Ask Prices, an improvement in aircraft Maintenance Exposure, and a fairly stable, albeit still high, Maintenance Exposure to Ask Price Ratio (ETP Ratio), see Table A (opposite).

Asset Insight Quality Rating (AIQ Rating): The Asset Insight Quality Rating

worsened slightly over the past 30 days, decreasing 2.5 AI2 basis points to 5.258, compared to last month’s 5.283 on the AIQ Rating scale of -2.5 to 10.

Maintenance Exposure (ATFE Value):

cabin and long-range jet segments. US buyers can be expected to return to these segments as well, and demand outside the US will recover as economic conditions in key geographic markets improve. The Forecast International study projects that annual business jet production will gradually increase from 761 aircraft in 2015, to 1,075 aircraft in 2020. A two-year cyclical downturn in production is anticipated for the 20212022 timeframe, before production resumes growing in the 2023-2024 timeframe. MI www.forecastinternational.com

The best aircraft for sale search

anywhere, everywhere - on pc, smartphone and tablet.

BUSINESS AVIATION INTELLIGENCE

Maintenance Exposure (an aircraft’s accumulated maintenance financial exposure) improved 0.4% over the past month, decreasing by $6k to $1.408m from $1.414m. By aircraft group, asset quality was as follows: • Large Jets: ‘Excellent’ asset quality – the best among the four groups – and slightly better than last month’s figure; Maintenance Exposure also improved/decreased by $38k and, at $3.059m, posted the group’s second best figure for the 2015. • Medium Jets: ‘Very Good’ asset quality, but lower than last month’s rating, dropping Medium Jets into third place among the four groups; Maintenance Exposure recorded the group’s lowest/best figure for 2015, $1.237m. • Small Jets: ‘Excellent’ asset quality, and a 1.3 AI2 basis point improvement over November’s figure; Maintenance Exposure also displayed a $10k decrease/improvement, registering $754k – very near the group’s lowest 2015 figure. • Turboprops: ‘Very Good’ asset quality, although the group posted a 5.2 AI2 basis point decrease this month; Maintenance Exposure decreased/improved for the fourth consecutive month to register the group’s lowest 2015 figure, $550k.

Maintenance ETP Ratio

Spread in the ETP Ratio (the aircraft’s 30

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Aircraft Index see Page 161

MarketIndicators Feb16.qxp_Layout 1 18/01/2016 16:27 Page 6

& & & & Maintenance Exposure divided by its Ask Price) narrowed by over 17 percentage points, while the average ETP Ratio remained relatively unchanged at 52.3% from last month’s 52.1% (Table B). Asset Insight considers any figure above 40% to represent excessive Asset Exposure in relation to Ask Price, and the industry average has continually exceeded the 40% level since March 2014. Average Ask Price posted an $80k increase to $5.58m, registering just above last month’s record low figure (Table C). Although Maintenance Exposure did improve slightly this month, as did overall Ask Prices, the ETP Ratio remained relatively unchanged at 52.3%. Asset Insight’s analysis by aircraft group revealed the following (Table D)… Large Jets: 4.5% improvement in ETP Ratio, 34.2% versus last month’s 35.8%, and still the lowest/best Ratio among all groups. Large Jets posted a 2.7% Ask Price increase, from $15.34m to $15.75m. Asset Quality climbed above the average for 2015, while Maintenance Exposure came in just above the lowest figure posted this past year. With Ask Prices below the group’s 12month average, we continue to believe prospective Large Jet Buyers should be actively pursuing such assets. Medium Jets: ETP Ratio worsened for the second consecutive month, increasing to 55.2% from last month’s 54.0%. The group’s average Ask Price decreased for the fifth consecutive month, albeit by only 0.6%, to reach a record low $3.39m. It would appear Buyers opted to acquire the higher quality aircraft, which is not surprising given recent reductions in Medium Jet values. Small Jets: The ETP Ratio for Small Jets changed by only 0.7%, but it was in the wrong direction, climbing/worsening to 70.1% from 69.6% – yet again the worst ETP Ratio among the four groups. However, the group did secure second position relative to asset quality, and with average Ask Price falling 2.8%, it would appear that Buyers and Sellers found room to complete transactions on higher quality assets as 2015 came to a close. Turboprops: While slightly above last month’s figure, Turboprops’ 44.1% ETP Ratio ranked second best among all sectors. Ask Price fell 1.2% to $1.55m, just below the group’s 2015 average. With Maintenance Exposure posting the Advertising Enquiries see Page 4

Table A

& & Table B

& &

& & Table C

& & Table D

& &

lowest/best figure for 2015, we expect more 2015 transactions to become visible than the 86 that became public through December 30th.

Market Summary

There are some great in-service aircraft values available, but market data can be confusing. Consider the following: • Asset quality began 2015 with a ‘Very Good’ rating, ended it with an ‘Excellent’ rating, oscillating between those two ratings throughout the year, while achieving a record high figure in August. • Average Maintenance Exposure started the year at $1.887m, achieved the worst/highest recorded figure, $1.913m, in March, but ended the year at $1.408m, just $7k above the year’s lowest/best figure. • Ask Prices tracked peaked in May, www.AVBUYER.com

posted a record low average figure in November, and ended the year 7.7% below their January starting point. • Maintenance Exposure to Ask Price Ratio (ETP Ratio) began the year at 64.5%, peaked at 67.2% in July, and then settled into a fairly narrow band for the rest of the year, eventually posting a significant improvement in December at 52.3%. Considering the number of moving parts, acquiring an in-service asset primarily based on emotion, rather than detailed analytics that include an aircraft’s maintenance condition, can lead to expensive mistakes. Maintenance analytics are relatively inexpensive and easy to obtain. Invest the nominal funds necessary to reduce your search time and expense, and to identify your maintenance costs during your aircraft ownership period. MI www.assetinsightinc.com ❚ February 2016 – AVBUYER MAGAZINE

Freestream February.qxp 20/01/2016 11:49 Page 1

2007/2009 Boeing BBJ

S/N: 36714 • Reg: VP-BFT • $56,950,000 • Into Service 2009 • Total Time Airframe: 2849 Hours • Landings: 741 • Fresh out of 6 year 2C check • 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

1998 Boeing BBJ S/N: 29273 • Price reduced to $21,950,000 • Total Time Airframe: 3814.54 Hours • Landings: 938 • APU TT: 3552 • Delivered with a Fresh A2 Check • C1 check completed 2014 • HUD (Heads Up Display) • SATCOM • Pats 9 Tank Fuel System • Basic Operating Weight: 95,096 Lbs • SFR88 Mod • CVR/FDR • Airshow Network • 18 Place Interior • One Owner Since New

2008 Gulfstream G550 S/N: 5176 • Price reduced • Total Time: 3466.5 hrs • Landings: 953 • Engines on RRCC • APU on MSP • Honeywell APP & Parts Programs • BBML • Securaplane External Camera System • Airshow 4000 • 18 passenger interior • Forward crew rest • Currently at Gulfstream Savannah • Delivered with Fresh 12/24/36/48/96 Month inspection on the N Register

2009 Gulfstream G550 S/N: 5231

• Registration: Currently undergoing FAA • New asking price $31,950,000 • 1338.2 AFTT • 545 Cycles • Engines: Rolls-Royce Corporate Care • APU: Honeywell RE-220. APU on MSP. 1760 hours • Enhanced Nav w/Synthetic Vision • Honeywell Planeview Cert ‘F’ • Head-Up Guidance System • Forward Galley • 18 passenger configuration • Maintenance: Gulfstream CMP • The aircraft is heading to Savannah, GA for N-registration on the 18th of January FREESTREAM AIRCRAFT LIMITED

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

FREESTREAM AIRCRAFT (H.K.) LIMITED

FREESTREAM AIRCRAFT USA LIMITED

London +44 207 584 3800 sales@freestream.com

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

Hong Kong +852 2724 5620 info@freestreamhongkong.com

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

Freestream February.qxp 20/01/2016 11:49 Page 2

2015 Gulfstream G650 S/N: 6159 • Make Offer • Delivery hours only • Freestream Supervised Completion • Engines on Rolls Royce Corporate Care • Part 135 and EASA Validated • Enhanced Soundproofing • Honeywell SwiftBroadband Data System • ViaSat Ku-Band Broadband Data System • Forward Galley and Crew Rest • Available to View at Groton, CT (KGON)

2009 Gulfstream G450 S/N: 4170 • Price: Make Offer • Into Service 2010 • TTAF: 1402 • Landings: 668 • Engines on RRCC • Part 135 Compliance • Aft Galley • Crew Area • Fwd and Aft Lavs • 14 Passenger Configuration

2010 Gulfstream G450 S/N: 4190 • Price USD $21,950,000 • Total Time: 954 hrs • Landings: 435 • Engines Enrolled on RRCC • Synthetic Vision • Broadband High Speed Data System • Forward Galley • 14 Passenger Interior

2011 Gulfstream G450

• Price: Make Offer • Total Time: 849 hrs • Landings: 455 • Engines on RRCC • SV-PFD (Synthetic Vision – Primary Flight Display) 2.0 • Honeywell HD-710 High Speed Data System • Part 135 Compliance (Up to 10 hours) • Aft Galley • 14 Passenger Interior

Freestream February.qxp 20/01/2016 11:49 Page 3

2006/2007 Global Express XRS • S/N: 9223 • $23,950,000 • JSSI Tip-to-Tail has $2.4M • Total Time: 3658:07 hrs • Landings: 1177 • Engines on 100% JSSI • Enrolled on JSSI Tip-to-Tail • Triple FMS • FANS 1/A+ and RNP 4 • SBAS with LPV APRH • Batch 3 • ADS-B • Forward and Aft lavs • Fresh paint September 2015

2001 Falcon 900EX S/N: 87

• New Asking Price $10,950,000 • Aircraft to be delivered with engines on 100% JSSI • TTAF: 5,345.16 • Landings: 2,922 • Honeywell Avionics Protection Plan (HAPP) • Engines & APU: JSSI • All three Engines: 3000/6000 • Fresh MPI Eng No. 2 • New 3rd Stage high pressure turbine ENG No. 2 • Fresh 2A, Fresh 2A+ • Dual GPS Honeywell HG2021GD02 • Airshow 400/Genesis • Securaplane Back up Batteries

2009 Challenger 605 S/N: 5824 • Reg: N304KR • Asking Price $13,950,000 • Total Time: 1616 Hours • Landings: 664 • Engines on GE OnPoint • Rockwell Collins Pro Line 21 • Dual FMC-6000 flight management system w/ 3DMAP and long range cruise • MNPS and RNP-5 navigation compliance • Aircell ATG 5000 Aircell GoGo Biz wifi • 11 Passenger Interior

FREESTREAM AIRCRAFT LIMITED

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

FREESTREAM AIRCRAFT (H.K.) LIMITED

FREESTREAM AIRCRAFT USA LIMITED

London +44 207 584 3800 sales@freestream.com

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

Hong Kong +852 2724 5620 info@freestreamhongkong.com

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

Freestream February.qxp 20/01/2016 11:49 Page 4

1999 Challenger 604 S/N: 5426 • $6,495,000 • Total Time: 6329:55 hours • Landings: 3397 • Engines enrolled on GE On Point • APU Enrolled on Honeywell APU MSP Gold • Enrolled on Bombardier Smart Parts Plus • Safe Flight Enhanced Auto Throttles • EMS High Speed Data 128 Stand Alone • EGPWS • TCAS II with Change 7 • 12 Passenger Interior • Fresh Out of a 192/96 Month Inspection

2001 Learjet 45 S/N: 167 • Make Offer • AFTT: 6730 hours. Landings: 5403 • 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

2000 Eurocopter EC 135P2 • S/N: 0193 • Reg: ZK-HLH • $2,295,000 USD • Manufactured in 2000 and delivered in 2001 • TTAF • 527.4 • Very Low Time 2000 EC-135P2 • No Damage History • Pop-out Floats • Air Conditioning • Dual Controls

2009 Sikorsky S-76C++ S/N: 760757 • Price reduced • TTAF: 211.54 hours • Lowest Time Pre-Owned S76C++ on the market • Excellent Condition • Single Pilot IFR • EGPWS • CVR & MPFR • Emergency Float System

FREESTREAM AIRCRAFT LIMITED

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

FREESTREAM AIRCRAFT (H.K.) LIMITED

FREESTREAM AIRCRAFT USA LIMITED

London +44 207 584 3800 sales@freestream.com

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

Hong Kong +852 2724 5620 info@freestreamhongkong.com

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

Finance.qxp_Finance 19/01/2016 14:09 Page 1

BIZAV INTELLIGENCE ❚ FINANCE

Business Aircraft Finance Update Situation’s Improving with Room for More... As we move into 2016 and distance ourselves another year from the Great Recession, do the attitudes of aircraft lending companies continue to soften? Dave Higdon investigates.

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

onsidering the levels of instability in the world, the finance and insurance elements of the aviation industry still remain available and viable – for those willing to meet the conditions required by the lender. Lenders who pulled back from aircraft financing in 2008 started returning to the market in 2010-2011 with changed attitudes toward much of their lending. Now they favor corporations and companies over individuals (even HNWIs), and business use over personal. According to various sources, cash deals have dominated aircraft transactions in recent years, by some descriptions accounting for up to 50 percent of business aircraft transactions. Lease deals account for another 25-30 percent. That all translates to reduced demand for lenders' services, and a concomitant effort to make lending more competitive for more buyers—with predictable results: More money available to lend, with competitive terms and attractive interest rates. But lenders still exercise their own discretion when setting parameters for the aircraft they'll finance and the borrowers for which they'll write loans. The aircraft parameters remain fairly predictable… Aircraft Index see Page 161

Finance.qxp_Finance 19/01/2016 14:10 Page 2

Dave Higdon is a highly respected aviation journalist who has covered all aspects of civil aviation over the past 35 years. Based in Wichita, he has several thousand flight hours, and has piloted pretty much everything from foot-launched wings to combat jets. Contact him via Dave@avbuyer.com

Time: None Escape the Ravages of Age...

The best deals available, according to a range of aircraft finance experts, come to those pursuing a late-model aircraft – particularly, these days, those interested in light- and mediumclass jets. According to the various lenders, lending conditions have improved since the first years of fallout after the recession hit. “For a while many lenders declined to do business with anyone who couldn't do without, effectively locking-out quality borrowers because they qualified and needed the credit for the investment – but couldn't do the deal without,” quipped one Oklahoma-based lender. “It was like that Bob Hope line many years ago; the one about banks being a place that will lend you money if you can prove you don't need it. That's how the business was for two or three years. Now, banks are lending.” So where do the lines get drawn today? “Not much different than seven, eight years ago,” the Oklahoma lender continued. “Anything under 10 years of age is still considered a choice, providing it's up to date on maintenance and upkeep and not flown to tatters,” he explained. With a portfolio that ranges from light-sport to business-turbine aircraft, this lender sees a broad spectrum of the private aircraft transaction range and understands its variations. “We believe we can quote the lowest down-payment and best interest and terms for jets under five, and offer some still-great terms for an aircraft up to 10 Advertising Enquiries see Page 4

years old. Then it's not until 20 years of age that there’s a significant change in treatment. “The big difference today is lower down-payment requirements and, for the 'well qualified customer' we can extend better terms than we could in those dark years, particularly for well-maintained assets,” the lender concluded.

Market to Market...

As one might expect, financing an aircraft for an international transaction raises a new set of issues, with factors varying from security in the country, to traceability of the asset, and the ability to recover it in the event of default. Various lenders agree that they're more willing to talk about financing an international transaction involving nations with established relations with the US – in particular, treaty agreements allowing expatriation of an asset. “Some of this depends on whether the borrower can show proof of insurance coverage for the location where they plan to base the asset,” noted a former loan officer for a Midwest lender. Now would be a lousy time to try to get financing for a business jet to be based in Iraq, Jordan, Syria or Afghanistan, however. But financing an aircraft for a South American or European customer (or one in China, Japan, Australia or New Zealand for that matter) would be no more problematic than the usual international complications and costs.

www.AVBUYER.com

February 2016 – AVBUYER MAGAZINE

Finance.qxp_Finance 19/01/2016 14:23 Page 3

BIZAV INTELLIGENCE ❚ FINANCE

Terms & Costs...

The foundation for most large-capital loans remains something called “LIBOR” – the London InterBank Offered Rate. As defined, LIBOR is the benchmark interest rate banks charge each other for overnight, one-month, three-month, six-month and one-year loans. Published daily by Reuters in five currencies, LIBOR is used as the benchmark for bank rates all over the world. Interest rates for the top customers can run as low as 200 basis points – or 2 percent – over the LIBOR, but most buyers will see rates of 300-500 basis points. Of course, rates will vary according to the aircraft's age and condition and the financial strength of the buyer. As noted, typically the less the buyer needs the financing the lower the rate available to them. But terms of 4-6% are not uncommon, with loan terms ranging from 5-20 years, depending on the aircraft and the borrower. Recently, the toughest deals for US OEMs and sellers to close were those involving international clients. On that point, a little help has returned to the marketplace…

The Ex-Im Bank Lives Again

Business Aviation adherents of several stripes united in their praise for Congress when, in the first week of December 2015, the normally dysfunctional lawmaking body suddenly turned productive and commodious. The praise flowed because Congress passed a highway funding bill – the Fixing America’s Surface Transportation (FAST) Act. Tucked into the bill was language renewing the Export-Import Bank of the US. Aviation voices and lobbyists decried congressional action earlier this year that allowed the expiration of the Ex-Im Bank, as it's called. The bank – financed by interest earnings and fees paid on loans – pays its own way by providing loan guarantees for international transactions. And US OEMs complained about business lost to overseas OEMs when US loan guarantees weren't available. This one action, according to finance companies and aircraft sales insiders, should help spur stronger sales of both new and pre-owned business aircraft after a year in which the challenges of international markets and the lack of the Ex-Im Bank put domestic OEMs at a competitive disadvantage. Rejected by large majorities in both chambers were claims that the Ex-Im Bank tilts the playing field in favor of larger companies. So expect the fight to resume in four years, when another Ex-Im Bank reauthorization effort begins. For now, 38

AVBUYER MAGAZINE – February 2016

however, aircraft finance just got a little more viable for OEMs, sellers and buyers in a market where post-recession finance restrictions no longer hold the same strong grip they did back in 2008-2010.

Going Aircraft Shopping?

Several aircraft finance institutions offer their list of helpful hints for prospective buyers who'll want to finance their aircraft. We've combed the most-repeated pieces of advice and compiled them into this short list. Step 1:

Shop, select and apply for financing. You'll need to take all the steps to apply for the loan at some point, but many buyers tarry, waiting until they've shopped and selected the airplane – then work on finding a lender. Gather the usual information – balance sheet, profit and loss statement, tax returns for five years – along with an outline of the aircraft you seek, and what you expect to spend. Then get pre-approval.

Step 2:

Shop with those airplane specifications and when you find the right one, negotiate the right deal before the airplane goes to a thorough pre-purchase inspection to assure you of its condition and/or to fix any squawks. Then submit the information to your lender, who can then structure your financing to that specific aircraft and your situation.

Step 3:

Get the loan paperwork, review it, sign and return it. This is the point at which things start to move along.

Step 4:

Wait for the title search to conclude and provide you with a clean title, which will be the starting point for closing with the seller.

Step 5:

Closing time: your title search and guarantee company can work this out with your lender and the seller (or seller's representative) so you needn't necessarily even be there – after which you will be able to take possession of your newly acquired airplane and begin putting it to good use. ❚

Are you looking for more articles on Ownership? Visit www.avbuyer.com/articles/category/ business-aircraft-ownership

www.AVBUYER.com

Aircraft Index see Page 161

LEAS Single February.qxp_LEAS 20/01/2016 15:54 Page 1

+1 201-891-0881

aircraftsales@leas.com

WWW.LEAS.COM

$6,500,000 2015 Gulfstream G650 s/n 6157 13 pax

1994 Gulfstream IVSP s/n 1236 16 pax

Delivery Hrs Only, ATG-4000 Internet (Text & Talk) Hnywl MCS 7120 Swift Broadband, Fwd Crew Rest Certified Part 135 Use to 12 Hrs

$23,995,000

2007 Global Express XRS s/n 9191 13 pax IAC Batch 3 Software, FANS 1/A+ & RNP4 Capability, SBAS/LPV Approach, Wi-Fi, Sat TV, ADS-B Out TCAS 7.1

On Display- NBAA Regional Forum Palm Beach (PBI) Jan. 28th. Low Time, Eligible Corp. Care 475 Hrs TSOH, ATG4000 Wi-Fi, ADS-B Out, SBAS/LPV Approach, -150 APU Upgrade

$13,995,000

2008 Challenger 605 s/n 5746 12 pax On Smart Parts, Engines on GE OnPoint, APU on MSP, Triple FMS and IRS, ADS-B Out, TCAS 7.1, New Paint & Interior 2014, Link 2000+

$6,195,000

2004 Falcon 900EX EASy s/n 137 12 pax

2009 Hawker 900XP s/n HA-0108 8 pax+belted lav

Engines/APU-MSP Gold, New P&I 2014, Enhanced EASy II Avionics & Navs, Syn.Vision, Wi-Fi, ADS-B Out, TCAS 7.1

On Hawker Support Plus, Engines/APU on MSP, Paperless Cockpit (2 Servers), Worldwide Weather w/ACARS, One Owner

$11,950,000

$6,500,000

1997 Gulfstream V s/n 504 15 pax Eligible Corp. Care, Sat. TV, Hnywl HD710 Multi ch. Satcom, Wi-Fi, Swift Data,True North Phone,TCAS 7.1 ADS-B Out, 24/48/96 & 192 Mo. 5/2014

2007 Sikorsky S-76C++ s/n 760695 8 pax Very Low Time, Stunning VIP Interior, Emergency Flotation Sys., Avionics on HAPP, Excellent Dispatch Reliability, One Owner, Always Hangared

L E A D I N G E D G E AV I AT I O N S O L U T I O N S , L L C

W W W. L E A S . C O M

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BIZAV INTELLIGENCE ❚ JETNET >>KNOW MORE

FBO Market Analysis and Trends A Global Categorization of FBO Revenue and Services

In this JETNET >>KNOW MORE analysis Mike Chase and Marj Rose assess the Fixed Base Operator (FBO) market. How do you categorize them, based on their revenue and services? Mike Chase (president, Chase & Associates) and Marj Rose (president, MarketLift), offer highly sought-after aviation market research expertise. Contact them via mike@avbuyer.com or MRose@market-lift.com. JETNET, meanwhile, the ultimate source for information & intelligence on business and commercial aircraft worldwide, can be contacted via www.jetnet.com.

s we continue to be optimistic about the slow but steady recovery of the Business Aviation industry, the Fixed Base Operators (FBOs) continue to compete for the traffic they need in order to survive. The annual NBAA Schedulers and Dispatchers conference was about to commence in Tampa, Florida as we wrote this article and is one of the few exceptional events that showcases the FBO world and all of the services they provide to Business and General Aviation operators. Recently, JETNET introduced an expanded service targeting the FBO networks providing operational support at specific airports. The new JETNET Evolution Airport/FBO view allows the user to quickly view individual aircraft, owners and operators, and the activity in or around a given airport. This valuable information allows deeper understanding of the flight activity at a particular airport that might provide an opportunity for an FBO business expansion.

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Thus, we’ll take a look at the current FBO market and analyze the segment.

What is an FBO?

For a little more background on the FBO world, let’s review some basics. A Fixed-Base Operator, as defined by the FAA, is a commercial business granted the right by an airport to operate on the airport and provide aeronautical services such as fueling, hangaring, tie-down and parking, aircraft rental, aircraft maintenance, flight instruction, etc. Most FBOs doing business at airports of high to moderate traffic volume are non-governmental organizations (i.e., either privately- or publicly-held companies). Though the term Fixed-Base Operator originated in the United States, it is becoming more common in the international aviation industry as Business Aviation grows. The term has not been officially defined as an international standard, but there have been recent uses of the term in International Civil Aviation Organization (ICAO) publications. Aircraft Index see Page 161

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FBO Classifications

A review of the Worldwide FBO market can be summarized, as it is in Table A (below), by type to classify them by the number of locations. The total population of FBOs worldwide is estimated to be around 6,400. Meanwhile, as Table B (below) demonstrates, FBOs can be divided into three tiers based on total revenue in US$. The three Tiers of FBOs indicates that less than 128 (under 2%) of the total number of worldwide FBOs are classified as Tier 1, as represented in Table B. Meanwhile, 13% (832) are classified as Tier 2 while the vast majority, 85% (5,440), would be classified as Tier 3. Tier 3 can be sub-divided into two additional categories: 1) $1-$10m in sales; and 2) $1m or less in sales. Over 60% of the Tier 3 FBOs have total annual sales of less than $1m, annual retail fuel sales of less than 250,000 gallons, or provide only Avgas fuel.

FBO Services

The FBO market profile can be based upon the tiers listed in Table C (below) along with the specific services that are typically associated with each.

FBO Revenues

Tier 1: Depending upon the market served and focus of services, fuel sales generally contribute ~40% of total sales, while technical services contribute the majority to sales (~60% of total sales). Gross profit, as a percentage of departmental sales, is generally ~35% of line-services sales, ~30% of Facility/Hangar sales, and ~35% of Maintenance & Parts sales. The resulting aggregate gross profit is approximately 47% of total sales. Tier 2: Revenue contributions are generally diversified between fuel sales which contribute 25-35% of total sales, while technical services contribute the majority to sales (45-65% of total sales), and charter 10-25% of total sales. Tier 3: Sales of retail fuel are most often less than 1.0m gallons annually, the majority of which is sold to base aircraft at that location. A limited number FBOs may service air carrier contracts on a small scale, with volumes under 2.0m gallons of Jet fuel sales.

FBO Services Retail Fuel Characteristics

Tier 1: Retail fuel sales are generally greater than 3.0m gallons, per year with the share of sales divided between based and transient turbine customers on a 40/60% ratio, respectively. FBOs in this market segment have also garnered a share in the air carrier business, and depending upon the contract can experience volumes in excess of 10.0m gallons of Jet fuel per year. Tier 2: Retail fuel sales range from 1.0-2.99m gallons and are generally divided between based and transient customers on a 55/35% ratio, respectively. FBOs in this market may service air carrier contracts on a small scale, with volumes ranging from 2.0-10.0m gallons of Jet A fuel sales annually. Tier 3: Retail fuel sales range from 0.5-0.99m gallons and are generally divided between based and transient customers on a 75/25% ratio, respectively. (All information above is from Aviation Resource Group International (ARGI) as 31 Dec 2013 FBO Operating Survey/North America.)

Summary

The number of top-ranked FBOs around the globe has been steadily increasing year-after-year but the US market’s saturated growth has leveled off for the most part and has seen trends in the consolidation of independent “Mom and Pop” FBOs by larger FBO Chain’s and networks. The current trend is offering bundled services versus unbundled services. Historically the International FBO model varied dramatically from that of the Domestic (US) FBO model. Internationally, the majority of the FBO revenue has been derived primarily from Handling Charges. While in the US, the majority of the FBO revenue has been derived primarily from fuel revenues. All of the FBO tiers serve an important segment in the aviation industry. As we mentioned above, the majority of FBOs around the world tend to fall into the smaller Tier 3 category, supporting the vast numbers of smaller, remote airports that serve the General Aviation community. ❚ Are you looking for more market insight articles? Visit www.avbuyer.com/articles/category/businessaviation-market-insight Advertising Enquiries see Page 4

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February 2016 – AVBUYER MAGAZINE

803.822.4114 member of

South Carolina (CAE) Colorado (GJT) • Texas

Aircraft Sales & Acquisitions

AIRCRAFT@BELLAVIATION.COM

2013 Phenom 300 • 50500137

1991 Learjet 31ER • 31-033

2001 Citation Excel • 560-5215

2001 Citation Encore • 560-0560

1996 Citation Jet • 525-0170

2000 Citation CJ2 • 525A-0007

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1985 Citation SII • S550-0036

1983 King Air F90-1 • LA-205

1979 King Air A100 • B-244

1978 Conquest II • 441-0037

2001 Piper Meridian • 4697058

2015 Bell 206L-4 • 52469

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BIZAV INTELLIGENCE ❚ AVIATION LEADERSHIP ROUNDTABLE

Old Airplanes, New Expectations Understanding the Cost of a Great Price As he watches our industry recover, Jay Mesinger ponders how much life is left in the older segment of the Business Aviation fleet – for those buyers who are both realistic and careful…

hen I refer to the older segment of the business jet fleet, I include the older Learjet, Hawker and Falcon models and the like. While the operating costs might be higher than for newer jets due to age of the aircraft as well as the time on the engines and airframes, who could argue with the purchase prices for these aircraft? Irrespective of the operating costs, a prospective buyer of older equipment can still potentially secure “a lot of airplane for their money”, and this still holds true today. Under certain conditions and applications, older airplanes have life left inside of them, and we have had the privilege in recent months to represent several for sale. Moreover, in every case we’ve been successful in selling our listings. But there is one factor that has been essential in every instance: product support is rapidly disappearing within this sector. When we consider product support, we are not just talking about the manufacturer of the airframe, but of equal importance the OEMs of the aircraft’s systems and components. When you own an airplane and have no plan to sell it, you learn to live with some inoperable systems (and by that, I mean systems non-essential to the legal operation of the aircraft, i.e. the flight phone, DVD player, coffee maker, etc.). The rubber meets the road when you plan to sell, however…

The Cost of a Great Price

Even as we have done a few times lately, you can carve certain systems out of a requirement of a delivery condition. For example, it may be noted that all systems will function except the two installed DVD Players. This can work if everyone is in agreement, but do try to be very specific in the Purchase Agreement. Beware, also, that some buyers will use that knowledge to try to repurpose the price of the aircraft. They do not give any value to the already low price they are paying, or the courtesy of the seller letting the buyer know well in advance what is and isn’t functional. By way of a cautionary tale regarding buying/selling older aircraft, let me offer the example of a recent pre-buy inspection of an older Falcon model. We had previously carved out the two flight phone system handsets in the cabin area that were nonfunctional from the Purchase Agreement, but when we got to the pre-buy inspection we realized the cockpit handset did not work either. Suddenly we weren’t just dealing with a handset issue, but a bigger system issue. You’ve guessed it - once we identified the problem we discovered the vendor no longer made the parts to rectify the problem. The only alternative was to replace the system with one that was supported by the OEM at a cost of approximately $150,000. The buyer’s glance at the seller told it all: “How are you going to handle this one?” Of course, the buyer knew that the seller was 50

AVBUYER MAGAZINE – February 2016

neither going to reduce the price by that amount or replace the system with the new, supported one. Nevertheless, this scenario reminded me of the famous saying that ‘Price is a onetime thing, but Cost is a lifetime thing’. There is a motivating price to buying older aircraft that can also come with a less than motivating cost. I am sure each of you who buy and sell aircraft can add your own stories of the cost of a great price.

Managing Expectations

This article is not intended to suggest that these older airplanes do not have a long life. It’s meant to set an expectation more in line with the reality of the ownership lifecycle. Buyers: do not approach these ‘great buys’ as though there’s no collateral cost associated. Very often the net effect is still in favor of the buyer, but be very careful to understand each and every system in the aircraft. Understand as you weigh the benefit of the purchase against the cost to maintain non-essential systems that may be important to you and your operation. Sellers: you can help the process by heeding the following advice… • Know that when you seek to sell the aircraft, the buyer may set expectations for his own operation that may be different than yours. • Always represent the aircraft from the very first day with the non-functioning items you want to ‘carve out’ of the Purchase Agreement. • Price the airplane accordingly, and then focus on all of the great things about the listing. • Let a potential buyer know that additional expenses may occur if those items are mandatory for their operation. In summary, I do not see the emerging markets rebounding during 2016, meaning continued pressure on North America to whittle away the high levels of aircraft inventory available on the market. This continued pricing pressure will produce ongoing opportunity for buyers. Frankly, whether you like the prices or not, the fact that transactions are occurring brings even greater opportunity for the seller. First time buyers will be rewarded with a lower cost-of-entry to the market. Be vigilant, be aware, and be ready to pounce. ❚

www.AVBUYER.com

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 Aircraft Index see Page 161

YO U R FI RST CH O ICE FO R H I G H - E N D P R E - OWN E D

Global Express XRS 2009 S/N 9246 | Hours 2007 | Engine program

LD SO

Global Express 2005 S/N 9151 | Hours 2216 | Engine program

Global Express XRS 2008 S/N 9235 | Hours 6342 | Engine program

LD SO

Challenger 850 2009 S/N 8078 | Hours 1127 | Engine program

LD SO

Learjet 45XR 2013 S/N 450 | Hours 1188 | Engine program

LD SO

Learjet 45XR 2012 S/N 435 | Hours 1253 | Engine program

Learjet 45XR 2012 S/N 454 | Hours 1288 | Engine program

FO R I N Q U I R I E S CO N TAC T YO U R D E D I C AT E D SA L E S D I R E C TO R US WESTERN STEVE RAHN 714-401-2337 | US NORTH CENTRAL ZAC WACHHOLZ 316-648-7416 | US EASTERN CHUCK THOMAS 561-234-9960 US CENTRAL CARL LOW 214-415-3129 | US OHIO VALLEY MARK SERBENSKI 616-648-2656 | US LOWER EAST COAST SCOTT MAGILL 904-716-8946 LATIN AMERICA NIC ALIAGA +1-316-285-4457 | EUROPE, MIDDLE EAST AND ASIA CHIKO KUNDI +1-514-825-7783 | CANADA PETER BROMBY 514-242-5510 Bombardier, Learjet, Challenger, Global, Global Express XRS and The Evolution of Mobility are trademarks of Bombardier Inc. or its subsidiaries. ©!2016 Bombardier Inc. All rights reserved. The aircraft presented here are subject to availability. All images and information are for illustration purposes and are subject to change without notice.

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BOARDROOM ❚ CASE STUDY

High Flyer’s Interview Luck Companies Succeeds by Design, Says Aviation Chief Did you hear the story of how Business Aviation saved jobs? Read on as Rani Singh discovers this and other examples of how instrumental the use of a business aircraft has been to the owners and employees of Virginia-based Luck Companies…

third-generation family-owned business, Luck Companies was founded by Charles Luck II in 1923 with a single stone quarry in Richmond, Virginia. Today his son, Charles Luck III, is Chairman, and his grandson Charles Luck IV is President & CEO, and from that one quarry owned in 1923, Luck Stone now owns 18. In addition to Luck Stone operating in the aggregate stone business, Luck Companies includes Luck Eco-Systems dealing with storm water mitigation, river bank repair, providing products for water absorption and environmental restoration (providing large stones for streams for erosion prevention). Another business unit, Luck Real Estate Ventures, deals with real estate on the extra land around the quarries. Focused on the mid-Atlantic region, Aviation De54

AVBUYER MAGAZINE – February 2016

SCOTT MOORE AVIATION DEPARTMENT MANAGER

partment Manager Scott Moore has created a worldclass flight department to support the company’s nearly 800 associates since joining in 2005. After a career in the US Air Force, his young family’s needs led Scott to accept an invitation to lead the aviation department for then-Luck Stone. The company has utilized aircraft since 1972, the first being a 4-seat single piston engine Mooney aircraft. “When I arrived in 2005, we flew a Beechcraft King Air 90 turboprop,” recalls Scott. “Before I got here, our operation had only one pilot. I hired a second and we started flying more and more, purchasing a King Air 350 in 2006. From last year, for the first time in the company’s history, we have a business jet - a 2010 model Embraer Phenom 300.” According to Scott, 2014 saw the jet fly 423 hours, and it averaged four days of flying each week.

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Aircraft Index see Page 161

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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.

Naturally, the flight department has grown with the need and today consists of three pilots and a mechanic. As Luck Companies expands, the firm is seeking partners located between Virginia and South Carolina, Tennessee and Texas – mostly around the south east United States. With its values-based leadership focus, Luck Companies is said to rank in the top one percent of companies in the world for employee engagement. “It’s a great place to work,” affirms Scott. The company’s business jet usage would support that fact, too.

Business Aviation Usage

Scott outlines that in the 1970s, aircraft usage was reserved for senior company leaders and the Luck family. Today it’s different. “Anyone in the company can Advertising Enquiries see Page 4

schedule the airplane for business use. We have even taken nearly a dozen people in the last few years on their first ever trip in an airplane, including some of our miners who operate the large haulers and loaders in the quarry. “One recent trip took a group of these folks to North Carolina to where the tyre manufacturer of the equipment they operate is. They toured the factory and learned how to take care of the tyres better. The best part of the trip is that they were still able to be home for dinner with their families by the end of the day.” On another occasion during the 2008-2009 recession, Scott recalls the company being overstaffed in the Richmond area. “There was a project down in Sanford, North Carolina, that needed to be done to remove surface dirt from a quarry expansion. We ! www.AVBUYER.com

“With its values-based leadership focus, Luck Companies is said to rank in the top one percent of companies in the world for employee engagement.”

February 2016 – AVBUYER MAGAZINE

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BOARDROOM ❚ CASE STUDY

were able to use the aircraft to take a team of about six or seven miners down every week. “They’d work there for a week, we’d bring them back, and they’d have a week off. So instead of laying staff off, we were able to preserve their jobs by using the company aircraft to take them where the work was needed, and we didn’t have to hire people down there.”

Typical Flying Day

Luck Companies is representative of around 85% of US companies using Business Aviation in that it operates a single aircraft. The aircraft is scheduled on a first-come, first-served basis and Scott’s team schedules the flights from the closest airport, arranging ground transportation for the passengers. Indeed, Luck Companies has its own private airport, Coffman Field, with a 3,800ft runway next to one of its quarries. In the event of a conflict in scheduling, the two potential users discuss the matter directly. “Because we’re a values-based company, the two associates decide which trip is more important. That way I’m not involved,” Scott notes. This technique has worked well. “When we can, if we’re going in the same direction, we’ll make two - and sometimes three trips in the airplane on the same day.” Scott describes an average day for his team. “We arrive at the airport at 7.30-8.00am. An average flight will take about an hour (most flying is done within the US). We may fly to a busy Business Aviation airport like Teterboro near NYC, or to a small airport in South Carolina where we’re the only airplane on the ground. “The passengers will have a rental car waiting at the aircraft and they’ll typically be off airport property within five minutes of disembarking. Our passengers can spend four to six hours with suppliers and customers, looking at acquisitions or other business. In the afternoon, the passengers return and we’ll fly back to our Coffman Field and home to our families.” It really is that simple. According to Scott, while the average load is four people, the Phenom 300 can carry eight. For safety, two pilots are on every flight, even though the Phenom can be flown using a single-pilot.

BizAv – It’s Just Good Management

Scott is convinced that Business Aviation is an essential part of any well-managed company. His example concerns a Luck Stone supplier in central Pennsylvania. “Business Aviation enabled us to pick up our customers from Washington DC and New York, and take them to central Pennsylvania, where they could choose the stone for memorials, walls or buildings. They could meet the workforce producing the stone in person, and since different parts of the quarries have different colors, they could select the color firsthand. “We could get in and out of this little airport that 56

AVBUYER MAGAZINE – February 2016

EMPLOYEES GATHER AT A LUCK STONE QUARRY

has no airline service within two hours and leave our customers satisfied. It was incredibly efficient service.” Scott says that the company is looking for a new quarry and an airport nearby would be essential to the selection of one. “If we buy an operation in South Carolina, Tennessee or Texas we need to manage it from Richmond, Virginia. So an airport is a huge asset,” he notes. “There’s no way we could do that without a business aircraft. “In all likelihood, the place will be far from a commercial airline airport. It’s going to be in a small rural town. You don’t get quarries next to large airports.” Luck Companies operates in a country with only 500 airports served by commercial airlines – many of those are secondary airports with irregular and indirect flights. By comparison there are over 4,000 airports that Luck Companies can use with the Phenom 300, opening up a multiple of additional locations that it can do business in. The way things are moving today, it is easy to predict that Luck Companies will continue to grow and develop while retaining its core values-based leadership culture. As a matter of fact, Scott credits his company’s influence for his future plan to set up his own company offering leadership coaching, teaching and speaking. Learn more at Luckcompanies.com ❚

“When we can, if we’re going in the same direction, we’ll make two - and sometimes three trips in the airplane on the same day.”

Story research by Emma Sheppard www.AVBUYER.com

Aircraft Index see Page 161

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Photo courtesy of Pilatus

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BOARDROOM ❚ OWNERSHIP

Who ‘Owns’ the Aviation Department?

The Key to Serving Many Masters… Identifying and serving the ultimate boss via Business Aviation provides the greatest benefits for company shareholders and maximum longevity for aviation personnel, observes David Wyndham. But who is that ultimate boss?

A 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

viation Managers and CEOs have a challenge in common—they serve many masters. A CEO needs to be concerned with the shareholders and their returns. He or she must listen to the Board of Directors, yet communicate effectively with employees. The CEO who cannot motivate employees to see the corporation’s Vision and pursue its Mission will face difficulties in meeting corporate goals. For officials of public corporations, there are regulators who also have oversight. Yes, a corporate CEO has many masters. The Aviation Manager also has many bosses, even if the Aviation Department’s sole purpose is to be the CEO’s transportation. At the end of the day, it is the corporation and its shareholders who must be served. The Aviation Department must in-

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

tegrate with the corporate structure and understand how it supports external and internal business units within the entire enterprise. While it’s tempting to cater to the CEO, the enlightened Aviation Manager focuses on addressing the goals and objectives of the company as a whole. A Fortune 500 CEO’s tenure varies, but according to the Wall Street Journal the average tenure is less than 10 years and almost a quarter of departing CEOs leave as a result of dismissal. Woe to the Aviation Manager who seeks the favor of a single executive. A key to longevity of the Aviation Department is how well it is enmeshed into the activity of the corporation. I have seen Aviation Departments downsized or closed when their sole-benefactor retired ! or was let go. Aircraft Index see Page 161

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BOARDROOM ❚ OWNERSHIP

Serving the Entire Company

How can the Aviation Department benefit the entire corporation? Quick answer: It can add value at three levels: - The Shareholder Level: profits, market share and returns are examples; - The Enterprise Level: quality, asset management, cost control; - Executive/Employee Level: productivity, team collaboration, product development. One recent client’s experience shows all three levels being met by the effective utilization of the corporate aircraft. The company had a goal to double the number of retail locations in the Northeast US. The Aviation Department used the corporate aircraft to transport corporate teams to the Northeast to oversee and manage the opening of the new locations and to coordinate the training needed for the new managers and employees. It flew senior management to speak at the regional meetings. Other times it flew sales and marketing teams to train new employees at multiple sites over a few days. The use of the corporate aircraft allowed this company to maximize its employees’ time, accelerate the opening of the new retail locations, and ensure a consistent level of customer experience when the stores opened. Thus it met: - The Shareholder Level: increasing market share by opening new stores; - The Enterprise Level: maintaining quality of service at the new locations; - Executive/Employee Level: maintaining executive staff productivity while training new staff.

Focus on Corporate Goals

When determining appropriate direction for the Aviation Department, managers should relate trip fulfillment to corporate goals. For the retailer cited above, the utilization strategy was supporting trips to the Northeast US during the corporation’s expansion in that region. At times, senior leaders had to adapt their travel plans in order to allow the aircraft to serve the various other teams involved in the company’s expansion. Of course, it was the senior leadership that made the decisions on priority, but the Aviation Department knew the corporate goals and developed tactics for how aviation personal and resources would support the company. Key Performance Indicators (KPIs) should be used to measure the efficacy and value-added nature of the Aviation Department. As a quick review, for a KPI to be valuable, it must be understandable, meaningful and measurable. In general, a KPI can follow the S.M.A.R.T. criteria: Specific, Measurable, Achievable, Relevant and Time-based. They should be directly tied into the utilization strategy and aid in the measuring of the benefits to the company. 60

AVBUYER MAGAZINE – February 2016

One tip here is to beware of measuring activity rather than productivity. One client managed the flight schedule to maximize the seating on the aircraft traveling to their main operating locations. Sometimes that strategy meant coordinating trips to fill the aircraft seats. For the Aviation Department in this example, more hours could have been flown by making every trip a priority regardless of passenger load. Instead the strategy maximized the productivity of each trip (passengers carried), knowing that the productivity benefit to the company was maintained while managing costs. While hours flown is an important metric, the Aviation Department maximized measures of productivity that supported the executive team and thus the corporation. While departmental costs are always under review, which is appropriate, be sure to include costs that are avoided in terms of travel expenses such as overnight stays, lost worked time/productivity and other elements of inefficiency. Throughout the process of satisfying the CEO, the CFO, Board Members and shareholders, the Aviation Department will need feedback from the corporation’s executive leadership. In addition to focusing on corporate goals, feedback is essential to guide the Aviation Department in its quest to serve its many bosses who demand satisfaction. Ed Note: The National Business Aviation Association (NBAA) and the General Aviation Manufacturers Association (GAMA), through their joint ‘No Plane No Gain’ program, commissioned a set of studies examining the value-added benefits of corporate aviation: (http://noplanenogain.org/category/studies/). If your company’s Aviation Department doesn’t have them, they need to get them. ❚ www.AVBUYER.com

“ When determining appropriate direction for the Aviation Department, managers should relate trip fulfillment to corporate goals.”

Aircraft Index see Page 161

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BOARDROOM ❚ BUYING & SELLING

Consultant: Small Word, Huge Meaning:

Tips for Sourcing the Right Expertise for your Aircraft Transaction… Jay Mesinger muses on the role that specialists in relevant disciplines play in a successful aircraft transaction.

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

ver my years of service to the aviation industry, I have been called many things! One of the most important is consultant, which Webster’s defines as “a person who gives professional advice or services to companies for a fee”. I wish I could command a fee for all of the advice I give out daily, but having informed clients is sufficient compensation. We come to work every day to gather and impart our wisdom and make a contribution to the Business Aviation community. An aircraft transaction consists of many parts for both the buyer and the seller. The consultant’s job is understanding those many components and guiding his or her client through the maze of activity surrounding a successful purchase or sale. No one, however, can be an expert in every facet of

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a deal. The best consultants are those who stay within their swim lanes. I can speak eloquently about the market, detect trends and recite key factors of residual loss rate. I am not an expert in taxes, operational regulatory nuances or the legal aspects of contracts. While I have considerable experience in watching all those pieces, I never delve into those areas. My job is to link my client with the appropriate specialists.

Dissecting the Transaction

When selling, the term ‘consultant’ is often replaced with the term ‘broker’. It is best to hire a broker who is skilled in the category of aircraft being listed. Someone who buys and sells single-engine piston aircraft has a very different set of market relationships ! than someone selling turboprops or jets. Aircraft Index see Page 161

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BOARDROOM ❚ BUYING & SELLING

The global marketplace can further set apart brokers. The Internet makes listing an aircraft internationally easy. The more difficult piece is being able to support the listing internationally when tasked to accompany a demonstration or maintenance event such as a pre-buy. Finding a brokerage firm that has worked over the years to develop key maintenance, legal and other broker relationships in remote regions is important. Note: The broker hired to list and market the aircraft should be paid by the seller. In other words, the party receiving the services of the consultant should foot the bill. The acquisition side of the transaction is more complicated. I often see aviation attorneys hired by buyers to handle the purchase, for the most part with satisfactory results. There can be issues, however, since a person who earns a living primarily from legal activities may lack the market knowledge of someone who spends every waking hour tracking markets and trends. Some buyers feel that paying a lawyer’s hourly charge is a less expensive way to acquire the aircraft. Regardless of which route you choose– hiring a lawyer or engaging a broker—the buyer should pay the fee. As the broker representing the seller I often receive calls from parties who claim to be working for a buyer and ask that my client (i.e., the seller) pay for the services of their specialists. This request always boggles me. Why would the seller pay the buyer’s representative, especially when the consulting fees often are not disclosed to the buyer? There is always the question of transparency and representing the best interests of the client. I caution prospective buyers and sellers to be careful when discussing financial arrangements. Beware of situations where the brokers or consultants are working for themselves rather than their clients. 64

AVBUYER MAGAZINE – February 2016

An Involved Process

Our internal checklist addresses over 100 separate tasks to be reviewed during a transaction. When you interview a consultant to assist your company with an aircraft transaction, look well beyond “How much do you charge” and delve into the process they are outlining. Will they have professional technical staff present with the aircraft at key junctures in the process? Do they have knowledgeable people building the sales specifications? Will the appropriate specialists be available? All these considerations are more important than the price of the engagement. If you pay substantially less than the typical fee, you may be unaware of what truly experienced professionals would provide. If you pay the going fare, however, you may have a higher likelihood of obtaining satisfactory service. I am not suggesting you overpay for the sake of not wanting to pay the least, or selecting your consultants on price alone. It takes only a few phone calls and inquiries to determine what is too cheap versus what is market rate. In addition to the transactional piece of the process, there are many other areas of consulting services to consider. As I mentioned above, issues involving taxes, regulations and Flight Department management, for example, each require their own set of special skills. There are consultants who deal with operational issues internationally. Doing your homework is essential. Obtain referrals, check references, and build a successful team for a predictable outcome. Stay tuned, I will explore additional consulting services next month. ❚

“ It takes only a few phone calls and inquiries to determine what is too cheap versus what is market rate.”

Are you looking for more Business Aviation Ownership articles? Visit www.avbuyer.com/ articles/category/business-aviation-ownership/ www.AVBUYER.com

Aircraft Index see Page 161

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February 2016

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BOARDROOM ❚ TAX

Planning a Business Aircraft Acquisition? Understanding Bonus Depreciation & IRS Section 179 Provisions Some purchasers of business aircraft will benefit from provisions of the PATH Act

passed by the US Congress in late December 2015, notes Jack Olcott. Here’s how…

s last year was about to pass into history, legislators in the USA pushed through an omnibus spending bill with the curious title of Protecting Americans from Tax Hikes—also known as the PATH Act of 2015. The action went by almost unnoticed. Adding to potential ignominy, previous bills introduced during the past few years also used the same PATH acronym— e.g., Promise for Antibiotics and Therapeutics for Health Act and Protecting American Taxpayers and Homeowners Act. Neither of those bills passed both houses of Congress, leaving the PATH name available for the $1.1 Trillion legislation signed by President Obama on December 18, 2015. For operators of business aircraft, passage of PATH 2015 was 66

AVBUYER MAGAZINE – February 2016

not simply tidying up last minute business in the world’s largest economy. Of the 127 or so sections of the bill, extension and modification of two provisions in particular—Bonus Depreciation and IRS Section 179 Expense Deductions—offer opportunities for lessening a company’s tax burden when purchasing a business aircraft or other qualified equipment used in pursuit of ordinary and necessary business activities.

Bonus Depreciation

Although the total depreciation of a business asset may not exceed the cost of that asset when acquired, the timing of when a company may claim depreciation for tax purposes has significant ramifications. Deprecation is normally taken in !

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Aircraft Index see Page 161

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BOARDROOM ❚ TAX

specified amounts over a set number of years as allowed by current tax law. For example, a business aircraft used as an industrial aid and operated in accordance with FAA Part 91 is depreciated over a five-year period. A company might choose a longer period to depreciate the asset, but it may not elect a shorted recovery period. Taking the maximum allowable deduction for depreciation during the first year equipment is placed in service often is more favorable for the acquirer. To stimulate business activity, the US Congress has from time-to-time allowed rapid depreciation of assets that a company uses in the furtherance of its business. For example, to mitigate the effects of the US’s Great Recession, Congress in 2011 allowed 100 percent first-year depreciation of qualified assets placed in service after September 8, 2010 and before January 1, 2012. Subsequently, 100 percent depreciation was extended through the end of 2013, and then reduced to 50 percent of the asset price through the end of 2015. Such accelerated action is often referred to as bonus depreciation. Without further extension of the code that existed in 2015, bonus depreciation was due to expire at the end of last year and revert to a traditional, but less favorable schedule. The PATH Act of 2015 extends 50 percent “bonus” depreciation through 2017, phasing down by 10 percent each year beginning in 2018 and eventually reverting to traditional levels associated with allowed depreciation. Readers are cautioned to seek qualified tax counsel before making a purchase decision.

Section 179 Expense Deductions

The PATH Act of 2015 extends until further notice the small business expensing limitations and phaseout amount in effect from 2010 to 2014, which were $200,000 for individual assets placed in service during the tax year and a $2m spending cap on all equipment purchased (after which Section 179 expense limits were reduced dollar for dollar until completely eliminated above $2.5m). Until the revised tax code was enacted less than two weeks before 2016 dawned, the maximum expensing limitation per qualified item for 2015 and subsequent years was $25,000 and the total

AVBUYER MAGAZINE – February 2016

spending cap was $200,000. Section 179 provisions are available for used as well as new equipment. As presented on the Section179.org website and attributed to Crest Capital (www.crestcapital.com), equipment purchased for $650,000 in furtherance of business can now be expensed and depreciated as shown in Table A (above).

Additional Thoughts

The decision to purchase or lease a business aircraft should be based upon the ability of a company to move people and/or goods more efficiently and thus more productively using Business Aviation, thereby benefiting shareholders. Incentives created by tax provisions should ultimately be secondary. Nevertheless, Bonus Depreciation and Section 179 Expense provisions are important incentives. Most governments throughout the globe use tax policy to stimulate economic activity. Thus we urge all readers of AvBuyer to discuss tax provisions with qualified professionals and stay abreast of legislation that affects their purchases. ❚ Are you looking for more Business Aviation Tax articles? Visit www.avbuyer.com/articles/category/business-aviation-tax/

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Aircraft Index see Page 161

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February 2016 – AVBUYER MAGAZINE

Insurance Feb16.qxp_Layout 1 19/01/2016 14:13 Page 1

BOARDROOM ❚ INSURANCE

Insurance Issues for Aircraft Dealers & Their Clients

It’s Not as Simple as it May Seem…! Dealers should take the time to understand and address insurance issues before adding a client’s aircraft to their fleet coverage, warns Stuart Hope. Owners seeking to sell their aircraft also should pay heed…

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

onsider the following scenario: An aircraft dealer has an exclusive sales agreement with an aircraft owner to market and sell their aircraft. Upon learning the aircraft will be sold, the owner’s pilots take positions flying for another company. Since the owner’s current insurance policy is due to expire soon, the client asks the dealer to insure the aircraft under its fleet policy, which seems like a reasonable request. Firstly, the dealer’s insurance program was written on a monthly basis, so the aircraft owner would pay a monthly premium to the dealer rather than the full annual premium in advance if the owner renewed their own policy. Second, the owner’s insurance policy required all pilots who flew the aircraft to complete simulatorbased recurrent training for that make/model aircraft within the preceding 12 months of flight. The

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dealer’s fleet insurance policy, however, allows them to approve any pilot at their discretion without the training requirement. Last, once the aircraft is sold, the aircraft can simply be deleted from the dealer’s reporting-form insurance. This arrangement allows the aircraft owner to avoid incurring a short-rate cancellation penalty that they would have paid had they renewed their own insurance policy. From the dealer’s perspective, this scenario can sound very reasonable. It helps to “sign the prospect” by apparently solving their insurance problem. At the same time, it solves the age-old problem of finding pilots who have completed simulator-based training in the seller’s make and model aircraft within the preceding 12 months of flight (often a tough task made more difficult if the seller happens to reside in a smaller rural town). Aircraft Index see Page 161

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The dealer’s insurance allows them the flexibility (and responsibility) to approve any pilot they choose whether training is current or not. On the surface, the arrangement seems straightforward and beneficial for both the client and the dealer. But what happens if a loss occurs?

Read the Fine Print!

When dealers add a consigned/For Sale aircraft to their fleet insurance policies, those vehicles are treated no differently than an aircraft the dealer owns and insures. Let’s say the dealer arranges a “demo flight” for a prospective buyer and the pilot approved by the dealer to fly the aircraft has an accident (e.g., a gear up landing). The dealer’s insurance policy will pay for the resulting direct physical damage to the aircraft but will NOT pay for any diminution in value or loss of use. Furthermore, since the aircraft dealer is a commercial operator, they may carry substantially lower liability limits than the seller had carried with their own insurance policy, thereby increasing the exposure for the owner. Unless issues such as the one described have been previously addressed by the client and the dealer (generally via the sales agreement), subsequent actions most certainly will result in more than hurt feelings for both parties. The dealer probably will have a very dissatisfied client (or ex-client), and the owner will have a substantially devalued aircraft. Advertising Enquiries see Page 4

What Should Be Done?

As a general rule, it is normally best that each party be responsible for their own insurance. In our example, if the aircraft owner had continued carrying their own insurance protection (rather than go under the dealer’s insurance policy) and the aircraft dealer carried liability coverage for their use of non-owned aircraft, the claims process would have proceeded much more smoothly for both client and dealer. The aircraft owner would have turned in the insurance claim to their insurer, who in turn would pay for the direct physical damage. If the owner’s insurer felt the damage had been caused by the negligence of the dealer’s pilot, they would subrogate against the dealer’s insurer to be reimbursed for the dollar amount of the damages paid. The owner could also seek payment from the dealer’s insurer for diminution in value and loss of use since the damage was caused by a third party (i.e., the dealer). Occasionally there are circumstances when it makes sense to insure a seller’s aircraft under the dealer’s insurance policy. If the aircraft owner and the dealer are going to take that route, both parties must understand the insurance ramifications clearly to avoid an unpleasant conversation after a loss. ❚

“ On the surface, the arrangement seems straightforward and beneficial for both the client and the dealer. But what happens if a loss occurs?”

Are you looking for more Business Aviation Insurance articles? Visit www.avbuyer.com/articles/category/ business-aviation-insurance www.AVBUYER.com

February 2016 – AVBUYER MAGAZINE

Avionics Feb16.qxp_Finance 18/01/2016 12:57 Page 1

FLIGHT DEPARTMENT ❚ CONNECTIVITY

Aircraft Connectivity (Part 2) Providers & Service

Helping you understand the technology, integration and advances of

aircraft avionics and equipage, Ken Elliott continues a five-part series on aircraft connectivity, this month with a review of providers and service…

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

Figure 1: Outline of Aircraft External Communications Connectivity

n our introduction to aircraft connectivity, we began by showing how aircraft connect inbound and outbound to the external aviation community. For aircraft, connectivity may mean data associated with communication, navigation or surveillance. For example, the data shared with GPS positioning as navigation and ADS for surveillance can be considered as connectivity. For the purpose of this series we’ll focus on communication, with both the voice and data that it carries. So keep in mind that, in reality, total aircraft connectivity is a very broad subject. Service providers are the link between networks and customers. They may be offering turnkey solutions to operators as primary providers or specialized solutions as secondary. The networks are actually platforms that connect sources to destinations. For example, a satellite receives data from a source and relays the information to a destination. To understand why platforms such as satellites and ground facilities are necessary, we begin with a quick physics review of wavelength and frequency.

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Basic Physics of Aircraft Communication

The electromagnetic spectrum (EM) is a fascinating area of physics that forms the background for many aspects of our lives. Consisting of an electric component and - at 90° - a magnetic component, a sine wave oscillates between positive and negative cycles so many times per second. The rate of oscillation is termed frequency and the higher the frequency, the more cycles of EM energy occur within each second of time. Imagine a fixed oscillation of 125m cycles per second… that is a Very High Frequency (VHF) waveform oscillating either side of a zero energy level 125m times during one second, or Mega Hertz (MHz). By modulating the peaks of this wave (defined as the carrier wave) at the rate of our speech, 85–255 cycles per second, messages can be sent over long distances. ATC towers and avionics equipment create these carrier waves, modulate them with the voice from the pilot’s microphone and then transmit them over the airspace. Once received by antennas placed on each aircraft, onboard avionics remove the modulation from the carrier and ! Aircraft Index see Page 161

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FLIGHT DEPARTMENT ❚ CONNECTIVITY

Figure 2: Amplitude Modulation

Figure 3: Frequency Modulation

process the signal into audio for the pilot’s headset. Equally, superimposed modulation frequencies can be data (images, text, etc.) for other onboard display devices. This method of communicating is termed Amplitude Modulation (AM, see Figure 2, left). Another method, known as Frequency Modulation (FM, see Figure 2, bottom left), varies the whole carrier waveform at a rate that produces audio or data. The range of carrier frequencies that we call VHF are only capable of radiating as line of sight, so VHF signals do not follow the Earth’s curvature. Therefore they have limited range but still project information much further than we can ‘throw our voices’. Other frequency ranges behave differently: High Frequency (HF) signals, which cycles at a rate of 2-30 MHz, do follow the Earth’s curvature. Despite the fact HF has served communications on long haul flights for many years, it is subject to all sorts of signal variation. The ionosphere, impervious to HF signals, drifts up and down in relation to the Earth’s surface. This characteristic causes the deflected HF radiated beam to be shifted as it circumvents the planet due to the whimsical activity of the Sun, causing the HF frequency to drift around and the demodulated signal to fade in and out of reception. Some time ago satellites became the answer to longrange communication, additionally offering the capability to handle significant amounts of data at very high speeds. Some satellite networks, such as Iridium, use a greater number of satellites (66) in low earth orbits to provide worldwide coverage throughout the entire globe. Others, such as those provided by Inmarsat, use geostationary satellites fixed in space and offer coverage to within about 15 degrees latitude of the North and South Poles. Using different ground and airborne equipment, ATC and aircraft transmit carrier waves, modulated by voice and data, to satellites operating at frequencies between 1 and 40 Giga Hertz (GHz). More or less, this translates to communication rates a million times faster than existing terrestrial rates.

Communication Networks and Platforms

There are several major and minor satellite networks offering platforms as a means of bi-directional international connectivity between ATC, entertainment and information services for the aircraft customers they serve, Figure 5, opposite. Meanwhile, there are three major (and several partner) ground facility networks offering platforms as a means of bi-directional regional connectivity between ATC, data services and aircraft. Also, multiple aircraft communicate between themselves on similar frequencies and modes to those used by ground stations. The three major ground based network providers are Rockwell Collins ARINC using ‘Direct’ services for Business Aviation, Honeywell’s Global Data Center (GDC) and SITA. For these ground-based communications, SITA and ARINC work together with respect to VHF and HF frequency allocation and usage. These major network providers use regional partners to help bring services online and then operate regional 74

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Aircraft Index see Page 161

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ground facilities. Beside satellite communication, and as voice communication transitions into digital data, High Frequency DataLink (HFDL) and VHF DataLink Mode 2 (VDLM2) are taking over as the preferred technology platforms for relaying instructions and messages across the planet. In 2016, SmartSky Networks plans to emerge as a major phone and 4G LTE wireless network provider for aircraft operators. SmartSky, teaming with Satcom Direct as the service provider, will offer service above 10,000ft using a terrestrial network of air-to-ground (ATG) cell towers, initially within the US, but with an eye on international coverage later. GoGo Biz is an existing ATG provider, in addition to its Iridium services. It offers US coverage and broadband capability for Business and General Aviation aircraft.

Satellite Network Services for Aviation • •

•

• • • • • •

Eutelsat: In-flight Ka Band connectivity partnered with ViaSat. Iridium: Operational, passenger and safety services from cockpit to cabin. Specific programs for Business Aviation. Inmarsat: Operational, passenger and safety services from cockpit to cabin. Specific programs for Business Aviation. Intelsat: C and Ku Band broadband. SES: Full range of services supporting cockpit to cabin requirements. Telesat: C and Ku Band broadband, with Panasonic and ViaSat. Thuraya: L Band and mobile communications services. ViaSat: Ku and Ka Band broadband. XTAR: X Band services mainly for government use.

Figure 4: Aircraft Communication Connectivity

Figure 5: Satellite Network Platforms

Service Providers

While Rockwell’s ARINC, Honeywell’s GDC and SITA are, in themselves, major ground and space-based service providers, others have emerged to offer a broad range of services. Several providers focus on niche services. For example, ViaSat, with its fast broadband video/internet service, operates a satellite of its own and leases bandwidth from others. This company works directly with business jet operators via its Yonder program. Remarkably, ViaSat provides the satellite, aircraft avionics and ground network Advertising Enquiries see Page 4

for its fast and reliable internet broadband services broadcast via Ku and Ka band carrier frequencies. Voice and data may be routed through outside service providers such as Satcom Direct. While some companies own the satellites and provide a partial service, others just offer turnkey solutions. Companies like Rockwell Collins and Honeywell that do not own satellites engage with operators on many levels, providing the avionics and acting as a service provider. They utilize satellite networks owned and www.AVBUYER.com

operated by established space technology companies such as Inmarsat or Iridium. For simplicity, service providers may be split into two main groups. The first group - focused on trip planning - concentrates on providing a variety of services to the aircraft and its crew, both prior to flight and in real time during the flight. The second group covers flight data that address aircraft performance, location, route tracking and recording. ! In our previous article we listed no February 2016 – AVBUYER MAGAZINE

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FLIGHT DEPARTMENT ❚ CONNECTIVITY

Figure 6: Comprehensive Network Platforms for DataLink

•

Figure 7: Popular Service Providers and their Websites

When used for information, they provide a link to weather, flight tracking, asset monitoring and emergency locating, and allow a broad avenue for streams of useful data. By using high speeds and broadbands, they relay images and video using the internet and private intranets.

Ground Facility Services • Apart from the traditional Aircraft Communication & Addressing System (ACARS) service to air carriers, ground facilities provide analogue and digital terminal information (ATIS & D-ATIS). Further services include ADS-B and emergency location over land. • Ground facility operating platforms include CPDLC and HFDL for continental pre-departure clearance and messaging, while providing terminal weather, alerts and other important information to pilots. Trip Plan Services • Pilots may access a host of information from trip planning services, such as airport data, concierge and fuel arrangements, flight plans, weather and air traffic data. • Complete manuals, charts and databases can be accessed, updated or shared and notices received, all in real time. • Collaborative Decision Making (CDM) and datalink applications may also be available.

fewer than 18 trip planning service providers. Some of these are well known to all, such as Universal and Boeing’s Jeppesen, offering a wide array of trip services and more. Others may be regionally specific or target their services to a particular operator group. In that article we also listed nine flight data service providers, many centered on the emerging flight tracking market. Additional providers are emerging. By visiting their competitive websites you may see for yourself the variety and extent of services on offer. 76

AVBUYER MAGAZINE – February 2016

Services

Providers offer different levels of service that may be contracted. Following is an attempt at a comprehensive summary of services by satellite, ground facilities, trip plan, flight data and a few useful tools. Satellite Services • When used for communication, satellites act as the bridge to ADS-C and conduit for voice, text, oceanic clearance & delivery and FANS. www.AVBUYER.com

Flight Data Services • For data needs, recent concern over flight tracking/monitoring triggered a revolution across this technology sector. However other data have been collected, recorded and transmitted for decades. These include; Out, Off, On, In information, maintenance, safety and overall aircraft performance. Health & usage monitoring (HUMS) and engine trend monitoring (ETM) are typical examples of performance data. • Specific to the recording of data, modern aircraft recorders (including Quick Access Recorders, i.e., QARs) monitor voice and store hundreds ! of aircraft flight parameters. Aircraft Index see Page 161

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Avionics Feb16.qxp_Finance 20/01/2016 12:17 Page 5

FLIGHT DEPARTMENT ❚ CONNECTIVITY

Tools • Data tools are designed to optimize data communication. These include acceleration and data filtering. There are other tools, available for mobile applications and tools for accessing services, such as the NBAA’s ATS information as well as certain medical aids provided by commercial firms.

Additional Summary Comments

Satellite communication (satcom) has three components: Ground Earth Station - GES (using parabolic dishes); Space Segment (satellite); Air Earth Station – AES (aircraft). The space portion uses geostationary satellites positioned, for example, 22,300 miles away from Earth, or low earth orbit satellites at only around 485 miles away. The three primary satellite operators for Business Aviation are Iridium, Inmarsat and ViaSat. Iridium covers the whole earth, including all oceans and both poles, while Inmarsat does not cover the poles. Iridium and Inmarsat own their satellites, but ViaSat owns one and leases bandwidth on others. The performance of aircraft equipment connecting to the satellites reflects the network’s limitations. For example, Iridium-based GoGo Broadband is currently US domestic and partial Canada, operating at and above 10,000ft AGL, 78

AVBUYER MAGAZINE – February 2016

whereas Inmarsat’s Swift Broadband can operate below 10,000ft AGL, including on the ground, and covers a large portion of the planet. ViaSat operates like Inmarsat but with less overall coverage. Other performance connectivity considerations may introduce limitations for operators, including: • Weather over ground stations impacting data transfer rates; • Antenna angles and elevations acting as a physical limitation; • Transitioning between satellite coverage regions; and • Scheduled and unscheduled maintenance. Some services such as GoGo Biz include ATG ground-based domestic capability, as well as satellite coverage. The ground based coverage can provide reliable internet capability at a low cost. Data speeds are typically lower than what terrestrial-based users experience, but are catching up fast. One means of allowing broader bandwidth and higher data rates is to operate at different carrier frequencies. For satellites, the options are: • X band (8-12 GHz) • Ku band (12-18 GHz) • K band (18-26 GHz) • Ka band (26-40 GHz) www.AVBUYER.com

The use of the Ka band is relatively new and, going forward, appears to be the carrier frequency band of choice. Airborne systems, using this frequency band, are able to stream videos, download large data files and provide video conferencing across multiple onboard devices. Bandwidth can control the speed of data. For ATG ground-based networks, moving the carrier from 3-4 MHz to 60 MHz reduces data package download time. Latency reduction techniques, meanwhile, reduce the time it takes for any single data byte to go back and forth between the aircraft and ground towers. It should be noted that with all the commercial airline users and increasing number of business jet users, expanded coverage is still a significant challenge for infrastructure developers trying to maintain a reliable and continuous service worldwide. Over subsequent articles, we will address how networks and service providers transfer connectivity data into the aircraft, how data are processed, and then how information is presented on board. ❚ Are you looking for more articles on Avionics? Visit www.avbuyer.com/articles/ category/business- aviation-avionics Aircraft Index see Page 161

Charlie Bravo December.qxp_Layout 1 18/01/2016 14:47 Page 1

Engines 1 Feb16 .qxp_Finance 18/01/2016 12:30 Page 1

FLIGHT DEPARTMENT ❚ ENGINES

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Aircraft Index see Page 161

Engines 1 Feb16 .qxp_Finance 19/01/2016 14:21 Page 2

Managing Your Jet Engine Maintenance

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

An Introduction to Hot-Section Inspections, Overhauls & Downtime How can you manage the cost and downtime of a business aircraft engine overhaul or inspection, asks Dave Higdon?

ome basic maintenance occurs on virtually every flight – when the flight crew visually checks the engine condition, lubricant levels and various points designed to highlight an anomaly – such as a dysfunctional lowoil level indicator or any other component indicating something out of specification. Other powerplant maintenance items arrive largely on an hours- or cycles-based schedule, and include the two major events in the life of any turbine engine: The hot-section inspection (HSI) and engine overhaul. While some overhauls are proscribed as ‘on-condition’ events, the HSI generally arrives at a set time period. For engines with a proscribed TBO (Time Between Overhaul), HSI events tend to arrive at the mid-point between zero hours and the TBO limit. For engines with an on-condition TBO cycle, however, HSI times are typically set on a firm schedule, whether 1,500 hours, 1,800 hours, 2,000 hours, or more. The downtimes vary and costs vary accordingly, but anticipate a low six-figure fee to be a starting point for engines that cost in the high six-figures new. Anticipate seven-figure fees for powerplants with new-production prices well into eight-figure sums. One engine-shop operator uses a rule of thumb that overhauls will cost one-third to one-half of the engine's cost when new. Regardless of the renewal costs, the necessity remains to help engines reach their limits, remain cost-effective and, most importantly, reliable and safe. Let's first look at the two different cyclical events.

Hot-Section Inspections (HSI)

Here's a relative rarity among aviation acronyms – one that means exactly what it says: An inspection of Advertising Enquiries see Page 4

the components subjected to the pressures and heat of fuel combustion – the hot section. HSIs help verify that all hot-section elements of an engine remain capable of producing rated power, and they assure efficient and safe performance until the time comes due for the next HSI or overhaul. Turbine engines, whether jet or propjet, share several components: air compressors; combustion chambers and liners; and the turbine wheels turned by the blast of hot air exiting nozzles on the combustion chamber. Inspections generally cover the blades of power and compressor turbines, stationary vane rings, turbine-shroud segments, temperature sensors and connections, and compressor inlet. Components found to be short of standard may need to be replaced or repaired – a step that may entail further disassembly of the engine. Conversely, other items in the hot section may only be flagged for future attention, but will be left in the engine as long as they won't impact the powerplant's integrity. Take, for example, tiny cracks in stationary parts that may be kept in operation; as can rotating components showing minimal erosion and/or corrosion, or wear of ceramic coatings. An HSI is generally the lowest-cost major maintenance event in an engine's life and the shortest, with some engines down for only a couple of days for an uneventful HSI. The flip side comes when an inspection shows more-significant deterioration of those hot-section components (in which case partial or full overhaul may be required). And we can't forget about life-limited parts (LLPs), as set by the engine OEM. Whether cycles or hours define the life-limits, LLPs typically determine the outside limit for how long an engine can stay on the aircraft. The good news is that an overhaul can renew that powerplant's useful life and send it back to work. www.AVBUYER.com

“The flip side comes when an inspection shows moresignificant deterioration of those hot-section components...”

February 2016 – AVBUYER MAGAZINE

Engines 1 Feb16 .qxp_Finance 18/01/2016 12:34 Page 3

FLIGHT DEPARTMENT ❚ ENGINES

The Full Overhaul

“Of course, whether down for an HSI or a complete overhaul, the work will interfere with the aircraft's availability for its primary mission...”

Whether an engine achieves TBO, exceeds TBO, or comes up short as discovered by a hot-section inspection; an overhaul significantly raises the bar on complexity, cost and downtime. Some engines can be overhauled ‘on-wing’ – as most HSIs occur. But many overhauls of jets and propjets entail removal of the powerplant from the aircraft. The first step after removal is the disassembly and item-by-item inspection of components to determine their level of wear, and whether they remain within specified limits and can thus continue working or whether the wear exceeds limits and requires replacement. Modern turbine engines consist of several modules, each of which serves a specific purpose – whether the inlet section with the large fan, the compressor section that follows, the fuel-control components, the hot-section components and others. As each module comes off the engine its components undergo detailed cleaning prior to inspection to compare their condition to the manufacturer's specifications and limits. In general, rotating parts undergo inspections to monitor wear, as well as detailed non-destructive testing in search of tiny cracks that can propagate and ultimately lead to a failure of that component. Among the non-destructive testing available for components are dye-penetration tests, eddy current electronic inspections, or x-ray inspections that reveal details about the insides of metal parts. Inspecting all the components of a high-bypass jet turbine engine can take several days before work begins on replacing and reassembling the engine for a test run and installation back on the aircraft. The time can vary widely depending on the size of the engine and the number of components that require replacement to bring the engine back to factory specification. But at the end of the process the engine should be in like-new condition and ready to make another

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

run for TBO. Of course, whether down for an HSI or a complete overhaul, the work will interfere with the aircraft's availability for its primary mission: moving you and your people to meet the needs of your business.

Continuing Business During HSI/Overhaul

Depending on the engine, the job and other elements of aircraft maintenance, an engine overhaul or HSI may be scheduled in proximity with other major maintenance, as determined by the airframe OEM, and the type of operation. Remember, the maintenance requirements vary significantly between private operations flying Part 91 missions, and on-demand, charter or leaseback flying Part 135. To keep the business flying, operators often arrange for temporary lift through a leased aircraft, or, depending on demand, charter solutions. For some airframes temporary engine replacements are an option that keeps the owned aircraft working on the thrust of loaned engines. This option, where available, still incurs some downtime. While newer model engines may allow for easier removal and replacement processes requiring fewer hours, such a swap with its post-work checks and return-to-service flights can still take a week or more. But the operator retains access to the familiar aircraft and its cabin accouterments. Scheduling an overhaul to coincide with another major maintenance job helps minimize downtime – not to mention provide an opportunity to accomplish more (such as an ADS-B Out upgrade). Some operators choose to schedule an overhaul for a time when the airframe itself faces a lengthy inspection process, say a C-Check or D-Check period. HSIs can often be accomplished simultaneously with an annual or 100-hour inspection. Making the timing work may enable performance of some work to become a little earlier than might otherwise happen, or conversely a little later (where regulations and conditions allow). The rule of thumb, Aircraft Index see Page 161

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Engines 1 Feb16 .qxp_Finance 18/01/2016 12:35 Page 4

FLIGHT DEPARTMENT ❚ ENGINES

however, is that the greater the job – or the greater the need – the longer the process takes. Consequently, an overhaul for which everything checks out in spec and the removal, tear down, reconditioning and replacement processes for a pair of powerplants proceeds predictably and smoothly, can see the aircraft out of action for several weeks. But the end product is an aircraft with a renewed residual value, as well as a restored level of owner confidence in the safety and efficiency of the engines.

Preparing for the Day...

Savvy operators and flight departments begin preparing for the dual eventualities of HSIs and full overhauls even before taking delivery of the aircraft. Some handle the advance preparations in-house by regularly making deposits into an engine or powerplant escrow account. Regardless of the deposit cycles (weekly, monthly, quarterly), the amounts should reflect an overhaul-cost estimate divided by the hours between overhaul. If overhaul costs are $200,000 and the TBO is 4,000 hours, the deposits should at a minimum reflect $50 for every hour the engines ran since the previous deposit. Some operators suggest upping that formula by 25 percent to cover any unplanned maintenance and/or to bank extra funds for the hot-section inspection costs. As one operator told AvBuyer, there’s no sense in robbing the overhaul account for the HSI when you can also prepare a cushion for both needs. The other option used by many savvy operators and owners takes the form of a pre-paid hourly-based program like the ones offered by Rolls-Royce CorporateCare and independent providers such as Jet Support Services Inc. (JSSI). The advantage of a pre-paid approach is the delivery through renewal management of an operator's engine maintenance and powerplant overhaul needs, charged at a convenient perhour basis. Some tip-to-tail programs may even include alternative lift for the downtime when an overhaul or hot-section inspection comes due.

A Healthy Aircraft Heart Means Flying...

Just like those of their passengers, the heart of every aircraft stays healthiest when regularly, vigorously exercised. Every aircraft and powerplant technician broached, every planemaker and powerplant producer, offers the same message. Powerplants – the systems on which we depend to power our flights and drive the support systems integral to aircraft use – respond best when flown well and flown often. And like the human heart, confirming the results of that exercise regimen with regular scheduled hot-section exams can help assure that the need to overhaul doesn't arrive prematurely. ❚ 84

AVBUYER MAGAZINE – February 2016

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 over 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 linemaintenance parts to full engine overhauls. Find out more at: www.rolls-royce.com/civil/services/corporatecare/ www.AVBUYER.com

Aircraft Index see Page 161

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Year

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2000

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130

1990

Challenger 601-3A

5066

1991

Challenger 601-3A/ER

5086

1997

Challenger 604

5349

2002

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5549

2008

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5754

2011

Citation CJ3

525B-0357

1996

Citation X

750-0011

2006

Global 5000

9176

1987

Gulfstream GIV

1008

1993

Gulfstream GIVSP

1192

2002

Gulfstream GIVSP

1495

2009

Gulfstream G150

255

2008

Gulfstream G150

266

2009

Gulfstream G450

4148

2010

Gulfstream G450

4188

2012

Gulfstream G450

4235

2010

Gulfstream G550

5255

2000

Learjet 45

079

2005

Learjet 45XR

282

2001

Learjet 60

211

2011

Phenom 100

50000223

Engines 2 Feb16 .qxp_Finance 18/01/2016 12:18 Page 1

FLIGHT DEPARTMENT ❚ ENGINES

Five Tips to Minimize Engine Downtime & Expense

Understanding the intricate details of maintaining the engines powering business jets today is complex, to say the least, notes JSSI’s Timothy Ferrell. Following are five key areas to help minimize avoidable downtime and expense…

here are so many important details to engine maintenance that, if ignored, even the savviest maintenance professional can be sent down a road filled with delays and added costs. The following five tips are suggestions that should help you navigate the turbine engine maintenance process more efficiently… Timothy Ferrell is Senior Director of Engine Services for JSSI where he manages a global team of Engine Product Line Specialists. He is a licensed Airframe & Powerplant mechanic and can be reached via: tferrell@jetsupport.com

1. Plan Ahead

Proper planning for any major aircraft maintenance event is crucial for staying on budget and making sure the work is done in a timely manner. For most turbine engine overhauls, preparation should start 6-12 months in advance. For some larger engines, however, planning should begin no less than 14 months in advance to avoid problems relating to the coordination of engine shop slots and rental

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

engine availability. JSSI works with customers on a rolling 2-year maintenance forecast. When managing the scheduled maintenance for a fleet of business jets in such a way, the need to plan ahead intensifies. Securing slot times at a facility for an overhaul that accommodates an owner’s schedule and coincides with rental engine availability, can be a challenge. Thus, starting the process at least six (or more) months in advance is important. I have worked with operators that have waited until the engines are almost out of time before starting the overhaul planning process. The task of finding shop availability and rental engines on short notice can get ugly, quickly. And the hope of continuing to fly the aircraft without interruption gets replaced with delays and possible grounding ! because of the lack of forward planning. Aircraft Index see Page 161

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Engines 2 Feb16 .qxp_Finance 18/01/2016 12:19 Page 2

FLIGHT DEPARTMENT ❚ ENGINES

Figure A

2. Pre-Sourcing Materials/Supply Chain

Knowing what life-limited components require replacement at the time of the hot section inspection or overhaul will be invaluable because it allows for pre-sourcing of material that will save time and money. It’s critical to define the list of Service Bulletins to be covered during the visit, not only for cost estimates but also to allow the facility to pre-order the materials needed to perform these tasks. In certain circumstances, there could be a supply issue for a particular part, so securing a supplier for high demand materials is crucial. The maintenance facility can assist with this process by performing a logbook review in advance of the engine induction, which brings me to the second half of this tip, logbooks… Unorganized and incomplete logbooks can create processing delays for the maintenance facility. It takes significantly more time to research the life-limited component and service bulletin status when the historical service records are not tidy. Believe it or not, engines and many accessories are sometimes overhauled or replaced when they still have several hundred hours of time remaining on them. This can come from errors in flight log entries that lead to errors in maintenance records and maintenance tracking programs. Proper documentation that matches what is installed on the engine is essential to avoid any unpleasant surprises.

have desalination and compressor wash recommendations with detailed procedures in their maintenance manuals. Figure A (above) indicates the four stages of sulphidation that can occur to CT blades. The desalination process is a prevention technique that can result in limited discrepancy parts when the scheduled overhaul is conducted. Most washes with water-only are considered ‘desalination’ washes and are recommended for engines with minor sulphidation problems or those not operating in an environment where sulphidation can be extreme. Operating an aircraft within 150 miles of a coastline, will increase the risk for sulphidation and may require more frequent washes with a soap mixture. Periodic borescope inspections may help evaluate the effectiveness of an engine washing program. All of these recommendations can be found in the applicable maintenance manual and are important to minimizing additional expense during the next scheduled event.

3. Rental Engines – The Devil’s in the Detail

5. Scrap Material Approval/Losing Your Place

…and Accurate Logbooks

Rental engine availability can be another big challenge, especially with newer, larger business jets that have limited engine inventory. And there are other details to attend to before the rental engine is ready to fly. Prior to receiving the engine, there needs to be a bailment agreement, as well as proof of hull insurance and listing the lessor as a beneficiary on the hull policy for the time the engine is installed on the aircraft. This can take much longer than expected, especially when companies’ legal departments get involved. The lessor usually expects the underwriter policy to have up to $50m in liability. A rental engine deposit may also be required and is usually 50% to 100% of what the expected charges will be during the term. Shipping an engine also requires insurance, whether it’s your engine or the rental engine. It should not be assumed that the facility or the lessor has it covered. If the engines being overhauled are enrolled onto a maintence program, many of these details may be included in the services provided, or they may be available as an added option to the program contract.

4. Desalination and Sulphidation

There are good reasons that engine manufacturers 88

AVBUYER MAGAZINE – February 2016

Once your scheduled maintenance event is underway, the shop facility will request a site visit to review all the rejected parts and material. As mentioned above, these shops run on a tight schedule, so the scrap material reviews must happen in a timely manner to assure the production line is moving and on schedule. If your designated technician cannot be at the shop when requested, then most likely you will lose your place and have to go to the end of the line. This could mean a two-week delay or more, depending on the shop and engine type.

“...engines and many accessories are sometimes overhauled or replaced when they still have several hundred hours of time remaining.”

Summary

All of the above tips are important, but there are many more that can improve maintenance efficiency beyond the scope of this article. For example, a few years ago I probably would have replaced one of the above tips with engine preservation protocol. When the economy collapsed, it drove many owners to park their aircraft without the proper OEM recommended preservation process. Today, we rarely see this happening because not only have OEMs reinforced the importance of preservation, but our industry has improved and most owners are flying more and utilizing their aircraft as the business tool they purchased them to be. More information at www.jetsupport.com ❚ www.AVBUYER.com

Aircraft Index see Page 161

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Maintenance Jan16.qxp_Finance 18/01/2016 11:54 Page 1

FLIGHT DEPARTMENT ❚ MANAGEMENT

Creating a Flight Department Developing(Part the Security Plan 9) Developing the Security Plan (2)

Every Flight Department should have a Security Plan, but every Flight Department should not have the same Security Plan, observe Fred Haap and Jack Olcott.

hen creating a Flight Department, planners must establish a comprehensive and effective process that maintains a high level of security proportional to the perceived or likely threats to the operator, its personnel, aircraft and facilities. Furthermore, the plan must satisfy whatever parameters are demanded by the jurisdiction where the operator is allowed to fly. While a nation’s aviation rules regarding security are prescribed and by necessity are quite general, determining security protocols that are appropriate for the perceived threat leaves considerable room for individuality as well as creativity. Thus a company’s Security Plan for aviation must be unique. From the onset, each Flight Department should conduct a background check of proposed departmental personnel focused on substance abuse, criminal infractions and FAA enforcement actions.

Establishing a Security Manager

The next step is to establish the position of Security Manager and outline what is expected of someone assigned that function. Since the typical Flight Department is relatively small, consisting of a Manager/Chief Pilot, Co-Captain, either full-time or part-time 90

AVBUYER MAGAZINE – February 2016

Co-Pilot, scheduler and one or two support personnel, it is likely that a full-time Staffer will also serve as Security Manager. Nevertheless, being assigned the collateral duty of security in no way discounts the responsibility of that position. Task one for a department’s Security Manager is to develop a Threat Assessment Process. In what ways and under what circumstances will the security of the Flight Department be challenged? An operator of a small turboprop supporting a sales staff within rural areas of the USA faces a different threat than a multinational mega-firm doing business around the globe. A company engaged in business that engenders controversy faces security issues unlike those of an operator moving something as common-place such as auto parts between two manufacturing facilities. In all circumstances, however, a business aircraft regardless of size or region can be an instrument of destruction if operated or controlled by people with evil intent. Thus the Security Manager needs to draft a plan for evaluating likely threats and seek inputs from others in the department as well as from security professionals, either within the parent company or from a recognized security firm. Identifying the proposed Security Plan should be an integral part of the Flight Department creation and thus outlined in the

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Aircraft Index see Page 161

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Maintenance Jan16.qxp_Finance 19/01/2016 14:25 Page 2

FLIGHT DEPARTMENT ❚ MANAGEMENT

department’s overall Business Plan. Working with the Aviation Manager, newly hired aviation personnel and company security, the Security Manager should finalize the Threat Assessment Process, oversee its implementation, supervise training and conduct security drills to achieve uncompromised effectiveness. All aspects of the Flight Department, including aviation personnel, aircraft, facilities, passengers, luggage/freight and associated areas of vulnerability must be addressed. Threat assessment requires awareness of social and economic forces that are often associated with negative behavior. Thus an additional duty of the Flight Department’s Security Manager is regularly tracking activities that relate to security. The person assigned oversight of security should establish an informational network with local law enforcement as well as company security personnel. He or she should have daily access to websites recommended by local and national authorities, and diligently scan newspapers and news programs for activities that might stimulate troublesome behavior. Historically, news of an aircraft hijacking is known to elevate the risk of additional hijack activities.

by an appropriate member of the Flight Department team, may do so. Standard security procedure should require that the company aircraft be locked when a crew member is not onboard. Special security equipment, if installed, should be activated. When parked overnight or in a remote area, security tape should be used if the security threat is considered elevated. Company policy should stipulate when a guard would be employed at unfamiliar locations. As always, it’s best to err on the side of caution.

Nothing By Chance

Just as piloting requires an aviator to prepare for unusual as well as normal operations, security demands awareness of possible scenarios and knowledge of appropriate procedures for dealing with routine as well as extraordinary events. When an unlawful or threatening act occurs, Flight Department personnel must be prepared to respond effectively, in accordance with the department’s Security Policy. Thus security training and drills are required.

Fred Haap is an IS-BAO accredited auditor and past Chairman of NBAA. During his distinguished career in aviation, Mr. Haap also spent nearly 30 years as a corporate aviation department manager & pilot, logging more than 13,000 flight hours in a variety of aircraft. Contact him via fhaap3@aol.com

Preventive Measures

Tracking local and world news, and maintaining a general awareness of situations that might foster security concerns constitute a key element in a Flight Department’s security program. While necessary, such oversight is insufficient to guarantee security. Specific steps must be taken proactively to identify who requires access to the company aircraft at each phase of its operation—when hangered, when on the ramp ready for flight, and when parked at a location other than home-base. Aviation personnel requiring routine access, and authorized to escort passengers and FBO service personnel to and from the company aircraft, must be vetted by security professionals, preferably during the hiring process, and issued identification badges that clearly indicate what aviation areas can be entered. Badge documentation requires careful attention to detail, such as initial and recurrent training and strict adherence to displaying security credentials at all time in or near areas deemed important to aviation security. Badge inventory procedures must guard against security credentials being misplaced or falling into the hands of anyone other than the assigned badge-holder. Random, unannounced checks of security documentation and security procedures are essential. All security procedures should be documented and strictly followed. Access to security-sensitive areas should follow the approach described in last month’s column, using the concept of concentric circles emanating from the aircraft itself to assure that only those personnel deemed secure to enter the company aircraft, and then only when accompanied 92

AVBUYER MAGAZINE – February 2016

Several organizations publish specific protocols related to security. Operators are urged to review material offered by the International Business Aviation Organization (IBAC), the European Business Aviation Association (EBAA) and the National Business Aviation Association (NBAA). In particular, review the material required for successfully passing an IS-BAO (International Standard-Business Aircraft Operation) audit. Each of those documents emphasizes that a company’s Security Plan must be appropriate to the threat it faces. Each program is unique, and each should be sufficiently creative to anticipate the unusual or unlikely. ❚ Are you looking for more articles on Flight Department Management? Visit www.avbuyer.com/articles/ flight-department-management/ www.AVBUYER.com

Aircraft Index see Page 161

Corporate Concepts 2 Feb DIGITAL version.qxp 09/02/2016 14:48 Page 1

Corporate Concepts International, Inc. Global 6000 – Off Market ■ 2014 model with less than 700 hours ■ Engine and airframe programs ■ Fourteen passenger configuration including crew rest ■ Forward and aft lavs – Forward galley ■ Call for details or see www.flycci.com

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Off Market 2006 and 2008 Sovereign ■ 2006 Sovereign with 1,500 hours ■ 2008 Sovereign with 1,900 hours ■ Eight passenger configuration ■ Enrolled in ProPart, PowerAdvantage and AuxAdvantage ■ Call for details or see www.flycci.com

Global 5000 for Lease – Call for Details See www.flycci.com Also Available - BBJ, B737-200 VIP, Super B-727 VIP, DC-8-62 VIP, Citation Excel, Citation Mustang, 208B Caravans, Challenger 300, Eurocopter AS355-F2, Agusta 109 and 139 Larry Wright +1 704 906 3755

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Safety 1 Feb16.qxp_Finance 18/01/2016 11:32 Page 1

FLIGHT DEPARTMENT ❚ SAFETY

Flight Data Recorders:

A Costly Cockpit Implementation or a Costly Omission?

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Aircraft Index see Page 161

Safety 1 Feb16.qxp_Finance 18/01/2016 11:37 Page 2

Using a case study from a 2008 accident, Mario Pierobon considers the value of Flight Data Recorders and Cockpit Voice Recorders within the cockpits of smaller business jets…

n 30 March 2008 a Bermuda-registered Cessna Citation 500 departed London Biggin Hill Airport in the south of England for a private flight to Pau in France, but shortly after take-off initiated a return to Biggin Hill, having reported engine vibration. Upon descent during the downwind leg for runway 21 the flight crew reported a major power problem just before the Citation struck the side of a house. An intense fire ensued, and none of the two flight-crew or three passengers survived. The UK Air Accident Investigation Branch (AAIB) conducted an investigation of the accident and identified a series of contributory factors and findings, but no probable causes. Contributory factors included the probability that a mechanical failure within the air cycle machine caused the vibration along with the probability that a missing rivet head on the left engine fuel shut-off lever led to an inadvertent failure of that engine. Other contributory factors included the fact that approximately 70 seconds prior to impact neither engine was producing any thrust, along with the probability that a re-light attempt on the second engine was started before the re-lit first engine had reached any speed, thus resulting in insufficient time for thrust to arrest the aircraft’s rate of descent before impact. It’s important to highlight that the investigation team specified “having neither a flight data recorder (FDR) nor a cockpit voice recorder (CVR) installed on the aircraft meant that any information critical to identifying the cause of the accident was not available to the investigation”, hence the lack of a probable cause in the accident report. While regulations do not make it compulsory for jets with a maximum take-off mass (MTOM) of under 5,700kg and certified to carry fewer than 10 passengers to operate with an FDR and CVR, the accident report highlights that there have been multiple accidents involving this category of aircraft where the cause is unclear for that very reason. Thus multiple investigations were left short of critical information that could have provided useful insight and clearer understanding of the factors leading to the losses. The accident report thus contained a safety

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Mario Pierobon is a safety management consultant and content producer. He currently is working on a research project investigating aircraft ground handling safety. Contact him via marioprbn@gmail.com

recommendation addressed to the International Civil Aviation Organization (ICAO) to adopt the proposals of its Flight Recorder Panel for a requirement to install flight recorders on jet aircraft with a MTOM of 5,700kg or less.

Operational & Safety Benefits of FDR/CVR

While there are still no current requirements to do so, operators of this category of aircraft would do well to consider the operational and safety benefits derived from having such devices installed. First: a flight data recorder is a useful tool for fuel consumption monitoring. While the cost of fuel may not be as relevant to business jets as it is to the scheduled airliners, it’s also true that within the Business Aviation industry cost leadership can provide useful margins when proving value to the company shareholders, or negotiating charter contracts. Second: data from FDRs can be revealing of non-procedural compliance trends and/or operational/structural exceedances, thus providing insight on the effectiveness of a safety management system. For example, how are flight crew able to identify hazards to safety during flight? Third: having a flight data recorder can stimulate personnel to report more consistently as they know that operational exceedances are likely to be detected as part of a flight data monitoring program. The challenges of implementing a flight data monitoring system within a small flight department are often associated with the cost of retrofit as well as finding the time necessary for data analysis within a busy workplace. These challenges can be overcome if there is an adequate safety culture in place to support flight data monitoring for safety intelligence gathering. While cost-benefit analyses should always guide decision making within a flight department, it should be stressed that there are increasingly more affordable hardware and software solutions. Quick access recorders are readily available, as are a wide variety of suppliers of flight data analysis services to whom data analysis and interpretation can be easily outsourced. ❚ February 2016 - AVBUYER MAGAZINE

Flight Planning Feb16 .qxp_Finance 18/01/2016 11:45 Page 1

FLIGHT DEPARTMENT ❚ FLIGHT PLANNING

Election-Year Travels: It’s a Plentiful TFR Airspace

Temporary Flight Restrictions: The potent TFR – and specifically VIP TFRs - are

standard operating procedure for sitting Presidents & Vice Presidents, notes Dave

Higdon. In US election years – such as 2016 – VIP TFRs expand to include candidates vying for the Presidential nomination. Keep abreast of them. Here’s how...

n essence, TFRs attempt to balance the security of US Presidential candidates on the backs of aviation operators. The closer operators flying in the USA get to the political nominating conventions this summer, the more-frequently they can expect to see TFRs around candidates’ campaign stops. And flying this year holds the potential for more VIP TFRs than ever. Between now and the 58th quadrennial US presidential election on November 8, expect 2016 to mirror 2012 in the scores of TFRs imposed by the FAA at the request of security agencies. In 2012, VIP TFRs issued for the President's travels approached 500, while hundreds of others came and went for the other candidates. Business and General Aviation operators faced scores of TFRs around the country, many of them 96

AVBUYER MAGAZINE – February 2016

short-notice ‘pop-up’ TFRs imposed with little warning and, consequently, with little time to prepare to handle the specific restrictions that accompany them.

TFR Frequency is ‘Seasonal’

The TFR numbers of 2012 reached their peak between the summer nominating conventions and the November election itself. But there were scores erected during the primary season that preceded the conventions. After a brief post-convention period of relative quiet, however, the TFRs soared following the conventions. The mere proposal of a TFR can have an impact. For example, some with sharp memories may recall the confusion caused in Florida when President Obama planned a late campaign swing into Central Florida a couple of weeks before the

www.AVBUYER.com

Aircraft Index see Page 161

Flight Planning Feb16 .qxp_Finance 18/01/2016 11:46 Page 2

November 6, 2012 election. That late-October timing threatened airspace access to the Orlando area during the two days preceding of the opening of the 2012 National Business Aviation Association convention; days when delegates and static-display aircraft normally flood into Orlando Executive Airport (KORL). Only by working closely with the FAA and the security officials (who sought the TFR) was NBAA able to gain a modification to the TFR that shortened its duration to 24 hours and narrowed its scope to provide access for static-display aircraft headed to ORL. In the end it was all for nothing. The TFR went active for only a few hours before being canceled because Hurricane Sandy happened and the President remained in D.C. to deal with the storm's aftermath.

Better Now Than Before

Prior to September 11, 2001, the TFR was a rare, limited-use mechanism the FAA employed in special circumstances. Natural disasters, search-andrescue efforts and man-made incidents predominantly underpinned TFRs for years. Fortunately, thanks to NBAA, AOPA and other aviation groups, TFRs are far less a mystery today than in the years immediately following the attacks of September 11, 2001. Back then the security protocol made knowing about and avoiding TFRs more difficult. Sometimes the FAA enacted a TFR but withheld location information in the name of security. TFRs went up over many power-generating plants and the security officials declined to provide location information (even though the plants were charted). Yet even with the improvements in the system since then, they remain a challenge for operators Advertising Enquiries see Page 4

with unfortunate timing and the need to fly into them. One complicating factor is the ‘parentage’ of each TFR. While it's the FAA that issues the TFRs through its NOTAM system, the agency isn't always in control of the access conditions imposed. The size, times and restriction levels for each TFR vary. For VIP TFRs, these determinations are made by the United States Secret Service (USSS), in coordination with FAA Security. Once finalized, TFR information is typically distributed via Flight Data Center (FDC) Notice to Airmen (NOTAM) in advance of the event. Overall, airlines suffer the least from TFRs because of the different checks and security clearances imposed on carriers and their crew. Business and General Aviation operators thus take the biggest hits – even those where operators have been vetted for participation in the Twelve-Five Standard Security Program (TFSSP) or the DCA Access Security Program. The TFSSP applies “to scheduled and charter (passenger and cargo) operations to, from, within, or outside the US that use aircraft with a maximum certificated takeoff weight (MTOW) of more than 12,500 pounds” according to NBAA's information. The DCA Access Security Program applies to operators who wish to use Washington National Airport (KDCA).

How TFRs Work....

VIP TFRs consist of one or more rings of airspace that surround the VIP and become active for a specific amount of time. The normal arrangement is to have one ring covering the location of the VIP’s arrival and departure, with another over the area(s) the VIP visits while on the ground. Most times these rings remain stationary, but there are www.AVBUYER.com

“...While it's the FAA that issues the TFRs through its NOTAM system, the agency isn't always in control of the access conditions imposed.”

February 2016 – AVBUYER MAGAZINE

Flight Planning Feb16 .qxp_Finance 18/01/2016 11:47 Page 3

FLIGHT DEPARTMENT ❚ FLIGHT PLANNING

“Cities that a nominee plans to visit are sure to have a VIP TFR, so paying attention to campaign schedules can give you some guidance...”

occasions where the agency issues ‘rolling’ TFRs to accommodate a moving event – i.e., one involving a train or bus trip between the arrival and departure points. Presidential TFRs generally entail an outer ring (usually 30 nautical miles, but sometimes slightly more or less) and one or more inner rings (usually 10 nautical miles). The shape and dimensions of these rings sometimes are modified to meet specific needs. For example, some TFRs are structured so that the outer ring consists of the lateral limits of a particular airport’s Class B airspace, or are created with cut-outs to allow access to airports on the edge of the ring, as noted below. It's the inner rings that tend to present the biggest hurdle to General & Business Aviation because they are almost always inaccessible to any General Aviation aircraft. This is primarily due to the fact that GA aircraft are not subject to TSA passenger and aircraft screening. Consequently, GA aircraft are effectively barred from even transiting these areas below 18,000 feet or from accessing airports within these areas during the specified times. Furthermore, these ‘no fly’ rings can force rerouting to move aircraft away from them. There are occasional exceptions that allow certain GA aircraft to access the inner rings. In other instances the Secret Service agrees to the establishment of ‘gateway’ airports. These airports are designated for GA aircraft to land for screening before entering the TFR airspace or landing at TFR-surrounded airports. In other cases, GA aircraft are permitted into the inner ring(s) only after obtaining TSA waivers, sometime used in combination with gateway airports. However, these exceptions are relatively rare and are normally made for TFRs that impact multiple airports for several days. TFRs for vice presidents and candidates tend to be smaller and less restricted than VIP TFRs for the President. But there is no guarantee that the security authorities won't impose large, tightly restricted TFRs for candidates.

The First Rule to Remember

Operators that belong to NBAA can access the association's website for its tailored VIP 91.141 98

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

TFR NOTAM Impact Statements, and association members can link through to other information the association collects through the NBAA ATM Specialists working at the FAA ATC System Command Center. The NBAA staff provides these impact statements for VIP TFRs, detailing the effects that these specific TFRs have on Business & General Aviation, including what airports and airspace might be affected. NBAA TFR impact statements reference public airports with at least one runway of at least 3000' in length. https://www.nbaa.org/ops/ airspace/alerts/notams/vip-tfrs/ Members enjoy access to other information and services available through NBAA, as do members of AOPA. While TFRs can have many roots other than the President, Vice President and some candidates, it's the VIP TFRs that create the most grief for General Aviation operators of all stripes. These TFRs are governed by FAR 91.141 and are generally not made available to the public until two or three days before the triggering event.

Remember: Anytime, Anywhere…

Operators can sometimes take a heads-up from campaign news that talks about candidates' appearance schedules. Cities that a nominee plans to visit are sure to have a VIP TFR, so paying attention to campaign schedules can give you some guidance well before the NOTAM is issued. And take this to the bank: 2016 will see many, many TFRs… first for the top-tier campaigns that have requested Secret Service protection for their candidates; then for the nominees that emerge after the conventions. With private aircraft the transportation of choice for most of the White House contenders, this could be one of the most TFR-intensive years in a decade. But be sure, TFRs can arise anytime, anywhere – and minutes after your last check. Because of their variety and sudden onset, TFR violations are a frequent enforcement issue with the FAA. Watch, check, and re-check frequently in 2016. ❚ Are you looking for more articles on Ownership? Visit www.avbuyer.com/articles/category/ business-aviation-ownership Aircraft Index see Page 161

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Values Intro.qxp_Finance 19/01/2016 09:40 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 Jets’ basic advantage comes into play over the Light Jet segment. Medium Jets tend to cruise towards the upperend of the private jet speed range (between Mach 0.78 and Mach 0.85). While on average faster than the Light Jet, a Medium Jet’s superior speed generally provides only a few minutes of gain on the typical Business Aviation trip of 350 to 500 miles, but the difference will become noticeable on longer legs exceeding 1,000 miles. In terms of range, the average Medium Jet can reach most of the US non-stop from almost anywhere else within the US, making them excellent candidates for the operator with regular transcontinental travel needs. That range capability also gives the crew the flexibility to string together a sequence of stops that total the same distance – making it possible for a Medium Jet to cover multiple locations and still get home at the days’ end, without buying fuel along the way. Runway requirements for Medium Jets are generally longer than the average length needed by a Light Jet – but nevertheless Medium Jets can still access a significant percentage of the secondary airports serving most of the 150 largest metropolitan areas in the US. Indeed, Medium Jets generally can match their Large Cabin kin in terms of speed and, to a point, their range, while providing reasonable office amenities that are competitive with most larger aircraft. With all of the above considered, it is little wonder that the Medium Jet segment is the biggest selling, deepest segment across the business aircraft market.

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AVBUYER MAGAZINE – February 2016

Medium Jet Price Guide The following Medium Jets Retail Price Guide represents current values published in the Aircraft Bluebook – Price Digest. The study spans model years from 1996 through Winter 2015. Values reported are in USD millions, with each reporting point representing the current average retail value as published in the Bluebook by its corresponding calendar year. For example, the Citation Sovereign values reported in the Winter 2015 edition of Bluebook shows $10.5 million for a 2011 model, $9.5 million for a 2010 model and so forth. Aircraft are listed alphabetically. Note: We have included 30 aircraft models in the following Medium Jets average price guide, and for additional assistance, Conklin & de Decker’s Performance and Specifications data for these models can be referred to, beginning on page 104.

www.AVBUYER.com

! Aircraft Index see Page 161

General Aviation February.qxp_Layout 1 18/01/2016 14:58 Page 1

Retail Values.qxp_RPG 19/01/2016 16:22 Page 1

FLIGHT DEPARTMENT ❚ RETAIL PRICE GUIDE

Medium Jets Average Retail Price Guide MODEL YEAR $

2015 US$M

2014 US$M

2013 US$M

2012 US$M

2011 US$M

2010 US$M

2009 US$M

2008 US$M

2007 US$M

2006 US$M

18.5

16.5

15.5

14.5

13.5

12.5

11.5

10.5

10.0

6.3

5.9

5.3

4.7

4.4

4.1

3.8

MODEL BOMBARDIER CHALLENGER 300 BOMBARDIER LEARJET 60XR BOMBARDIER LEARJET 60SE

3.8

3.2

4.2

3.8

3.5

3.0

2.6

2.8

2.4

BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR

6.7

6.2

5.8

5.3

4.8

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

5.3

4.8

4.2

3.5

3.2

BOMBARDIER LEARJET 40

CESSNA CITATION X+ 750

21.0

17.0

CESSNA CITATION X 750

13.0

12.0

11.2

9.9

8.5

7.5

6.8

12.5

11.5

10.5

9.5

8.5

7.5

7.0

6.5

8.0

7.5

7.0

6.5

6.0

5.5

5.0

4.8

4.5

7.1

6.7

CESSNA CITATION V11 650 CESSNA CITATION SOVEREIGN+ 680

16.0

14.0

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+ 560

12.0

10.0

13.5

CESSNA CITATION XLS 560 CESSNA CITATION EXCEL 560

DASSAULT FALCON 50EX DASSAULT FALCON 50

GULFSTREAM G280

22.5

21.5

20.5

19.5

GULFSTREAM G200 GULFSTREAM G150

15.7

13.5

11.0

9.3

9.8

9.3

8.8

8.3

7.8

7.3

6.8

6.3

5.8

5.3

4.8

GULFSTREAM G100

3.7

GULFSTREAM/ ASTRA 1125 SPX

HAWKER 4000

6.0

5.8

5.4

5.2

5.0

7.5

7.0

6.5

6.0

5.5

4.8

4.4

4.0

3.5

HAWKER 1000 HAWKER 900XP HAWKER 850XP PRO LINE

4.2

3.8

HAWKER 800XP/I PRO LINE HAWKER 800XP HAWKER 750

5.3

4.6

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

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AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Aircraft Index see Page 161

Retail Values.qxp_RPG 19/01/2016 16:23 Page 2

RETAIL PRICE GUIDE ❚ FLIGHT DEPARTMENT

What your money buys today

Winter 2015 2005 US$M

2004 US$M

9.5

9.0

2003 US$M

2002 US$M

2001 US$M

2000 US$M

1999 US$M

1998 US$M

1997 US$M

1996 US$M

8.750

MODEL YEAR $ MODEL BOMBARDIER CHALLENGER 300 BOMBARDIER LEARJET 60XR

2.9

2.6

BOMBARDIER LEARJET 60SE

2.4

2.3

3.4

3.3

3.0

3.2

3.0

2.6

2.2

2.1

2.0

1.9

1.8

2.4

2.3

2.2

2.1

2.0

1.7

BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR BOMBARDIER LEARJET 45

2.2 2.0

BOMBARDIER LEARJET 40XR 1.8

BOMBARDIER LEARJET 40

CESSNA NEW CITATION X+ 750 5.9

5.4

4.9

4.6

4.3

4.0

3.8

3.4

3.2

3.0

CESSNA CITATION X 750

2.650

2.450

2.350

2.250

2.050

CESSNA CITATION V11 650 CESSNA CITATION SOVEREIGN+680

6.0

5.5

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+ 560

3.9

6.2

3.7

CESSNA CITATION XLS 560

3.4

3.3

3.1

2.9

2.6

2.4

2.2

5.9

5.5

5.1

4.8

4.5

4.2

3.8

CESSNA CITATION EXCEL 560

3.5

DASSAULT FALCON 50EX 2.7

DASSAULT FALCON 50

GULFSTREAM G280 6.8

6.3

5.8

5.3

4.8

4.3

3.8

GULFSTREAMG200 GULFSTREAM G150

3.4

3.2

3.0

2.8

2.6 2.6

GULFSTREAM G100 2.2

2.1

2.0

1.9

1.8

GULFSTREAM/ ASTRA 1125 SPX

HAWKER 4000 2.2

HAWKER 1000 HAWKER 900XP HAWKER 850XP PRO LINE

3.4 3.4

HAWKER 800XP PRO LINE 3.2

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 4

www.AVBUYER.com

February 2016 – AVBUYER MAGAZINE

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FLIGHT DEPARTMENT ❚ SPECIFICATIONS

Aircraft 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 Small Jets next month. Please note that this data should be used as a guide only, and not as the basis on which buying decisions are taken. The data presents aircraft aged below 20 years of age only, but Conklin & de Decker provides details of older airplanes too. If there are any other ways in which we can improve the content or presentation of this information, please let us know.

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

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AVBUYER MAGAZINE – February 2016

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. 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.). 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.). Weights: • Maximum Take-Off Weight and Maximum Landing Weight are specified during aircraft certification. • Basic Operating Weight is the empty weight, typically equipped, plus unusable fuel and liquids, flight crew @ 200 pounds each 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. Specifications Performance Range: • Range (4 Pax) - The maximum IFR range of the aircraft with four passenger seats occupied. This uses the NBAA IFR alternate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft. • Ferry Range - is the maximum IFR range of the aircraft with the maximum fuel on board and no passenger seats occupied. This uses the NBAA IFR alternate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft. • VFR Range - Seats Full is the maximum www.AVBUYER.com

•

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.

Balanced Field Length BFL is the distance obtained by determining the decision speed (V1) at which the take-off distance and the accelerate-stop distance are equal (fixed-wing multi-engine aircraft only). This is based on four passengers and maximum fuel on board (turbine aircraft). For single-engine and all piston fixed-wing aircraft, this distance represents the take-off field length at Maximum Take-off Weight (MTOW). Landing Distance (Factored) For fixed-wing turbine aircraft, landing distance is computed using FAR 121 criteria. This takes the landing distance from 50/35 feet (depends on certification criteria) and multiplies that by a factor of 1.667. No credit is given for thrust reversers. Configuration is with four passengers and NBAA IFR Fuel Reserve on board. For 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 161

Wright Brothers October.qxp 21/09/2015 15:21 Page 1

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AircraftPer&SpecFeb16.qxp_PerfspecDecember06 19/01/2016 10:00 Page 1

MEDIUM JETS

BEE CHC RAF T HA WKE R 75 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 40 00 BOM BAR DIER LEA RJET 40 BOM BAR DIER LEA RJET 40X R

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

$2,957.69

$3,020.73

$3,010.37

$2,625.41

$3,019.28

$2,713.20

$3,407.94

$2,255.37

$2,267.54

CABIN HEIGHT FT.

5.75

4.92

CABIN WIDTH FT.

6.46

5.12

CABIN LENGTH FT.

21.3

17.67

CABIN VOLUME CU.FT.

551

746

369

DOOR HEIGHT FT.

4.3

4.8

DOOR WIDTH FT.

2.25

2.5

BAGGAGE VOL. INT. CU.FT.

114

BAGGAGE VOL. EXT. CU.FT.

CREW #

SEATS - EXECUTIVE #

MTOW LBS

27000

28000

39500

20350

21000

MLW LBS

23350

33500

19200

B.O.W. W/CREW LBS

16250

16500

16330

16500

23700

13718

13949

USEABLE FUEL LBS

8500

10000

14600

5375

6062

PAYLOAD WITH FULL FUEL LBS

2200

1750

1620

1790

1620

1400

1507

1239

MAX. PAYLOAD LBS

2200

2050

1950

2120

1950

2300

2282

2051

RANGE - SEATS FULL N.M.

2050

2470

2733

2525

2733

3283

1573

1778

MAX. RANGE N.M. (4 PAX)

2081

2539

2825

2615

2825

3177

1631

1601

BALANCED FIELD LENGTH FT.

4900

5640

5258

5641

5258

5459

4330

4680

LANDING DIST. (FACTORED) FT.

3803

3805

3810

3805

4373

4033

4060

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

3500

3415

2820

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

530

470

570

470

570

880

710

394

MAX. CRUISE SPEED KTAS

447

449

452

489

465

NORMAL CRUISE SPEED KTAS

430

470

436

L/RANGE CRUISE SPEED KTAS

402

447

428

432

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

TFE 731-5BR TFE 731-5BR TFE 731-5BR

TFE 731-50R

TFE 731-5BR TFE 731-50R

PW308A

TFE 731-20AR TFE 731-20BR

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.

106

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Aircraft Index see Page 161

Boutsen February.qxp_Layout 1 18/01/2016 17:00 Page 1

AircraftPer&SpecFeb16.qxp_PerfspecDecember06 19/01/2016 10:01 Page 2

BOM BAR DIER CHA LLEN GER 350

CHA LLEN GER 300 BOM BAR DIER

LEA RJET 75 BOM BAR DIER

BOM BAR DIER

LEA RJET 70

LEA RJET 60X R BOM BAR DIER

LEA RJET 60 BOM BAR DIER

BOM BAR DIER

MEDIUM JETS

BOM BAR DIER

LEA RJET 45

LEA RJET 45X R

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

$2,301.38

$2,341.09

$2,511.90

$2,390.79

$2,166.11

$2,172.31

$3,135.88

$3,152.10

CABIN HEIGHT FT.

4.92

5.71

4.92

6.08

CABIN WIDTH FT.

5.12

5.92

5.12

7.17

CABIN LENGTH FT.

19.75

17.67

19.75

23.7

CABIN VOLUME CU.FT.

415

447

369

415

930

1002

DOOR HEIGHT FT.

4.8

5.3

4.8

6.22

DOOR WIDTH FT.

2.5

BAGGAGE VOL. INT. CU.FT.

106

BAGGAGE VOL. EXT. CU.FT.

CREW #

SEATS - EXECUTIVE #

MTOW LBS

20500

21500

23500

21500

38850

40600

MLW LBS

19200

19500

19200

33750

34150

B.O.W. W/CREW LBS

13890

14125

14772

14896

13715

13890

23850

24800

USEABLE FUEL LBS

6062

7910

6062

14045

14150

PAYLOAD WITH FULL FUEL LBS

798

1563

1068

944

1973

1798

1105

1800

MAX. PAYLOAD LBS

2110

1875

2228

2104

2285

2110

3350

3400

RANGE - SEATS FULL N.M.

1423

1685

2186

2044

1849

1805

3065

3200

MAX. RANGE N.M. (4 PAX)

1889

1841

2134

2182

1920

1899

3220

BALANCED FIELD LENGTH FT.

4350

5040

5450

4230

4440

4810

4853

LANDING DIST. (FACTORED) FT.

4063

4105

5208

5317

3917

3951

3850

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

2800

2630

4500

4240

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

590

589

714

718

474

MAX. CRUISE SPEED KTAS

465

470

NORMAL CRUISE SPEED KTAS

436

459

L/RANGE CRUISE SPEED KTAS

416

432

423

432

459

TFE 731-20AR

TFE 731-20BR

PW305A

TFE 731-40BR

HTF 7000

HTF 7350

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

108

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Aircraft Index see Page 161

SCA February.qxp_Layout 1 18/01/2016 15:05 Page 1

GLOBALLY INTIMATE. BROKERAGE | ACQUISITIONS | SALES | MANAGEMENT

Visit our website: www.scross.com

Email: acsales@scross.com www.twitter.com/SCrossAviation www.facebook.com/SCrossAviation

2015 Gulfstream G650ER • s/n 6152 • VP-CMM

2009 Challenger 605 • s/n 5805 • LV-CCW

36.8 TT • Engines on RRCC

1740 TT • On Smart Parts Plus • EU OPS qualified • 2020 Mandates complied

APU on MSP Gold • Over 1M in optional equipment

• Rolls Royce Corporate Care • Engines on MSP

2008 Falcon 2000LX • s/n 0157 • N107RG

1996 Falcon 2000 • s/n 6 • N954SC

2250 TTSN • Engines on ESP • APU on MSP • Easy II upgrade • HUD • Fwd and Aft Lavs

All new woodwork and metal plating • Upgraded FMS’s with WAAS / LPV • ADS-B / USB Data Loader • Recent C check and Paint by Falcon in 2013 • PPI in Progress at Falcon • AVIATOR 200 Swift Broadband and Hotboxx Media Server

2002 Citation X • s/n 185 • N750DD

2000 Falcon 50EX • s/n 286 • N286ZT

2900 TTSN • Engines on Rolls Royce Corporate Care • Cessna Maintained • Cescom • NDH

API Winglets • 4450 TT Since New JSSI for Engines & APU C, 2C & Gear OH by Dassault/Paris in 2011

2007 Lear 45XR • s/n 353

2008 Lear 60XR • s/n 343 • N343EC

1800 TTSN • Engines and APU on MSP • Dual UNS 1-E • NDH • CAMP

1580 TT • Engines on ESP Gold • Fresh A-B-C Inspections • NDH

2006 King Air 350 • s/n FL-470 • N479SC

1998 Lear 31A • s/n 157 • N800CK

2700 TT • Engines on 100% JSSI Premium • Raisebeck Lockers • Fresh Phases 1/2/3/4 • FDR • Dual FMS • TCAS II w / 7

6675 TT • MSP Gold • Fresh A/B/C Inspections • New Paint / Partial Interior Refurbishment December 2015 • TRs • Raisebeck Locker

FT. LAUDERDALE

CHARLOTTE

SÃO PAULO

LONDON

1120 NW 51st Court Ft. Lauderdale, FL 33309 USA

17718 King’s Point Dr., Ste. A Cornelius, NC 28031 USA

AV Copacabana 177-Alphaville 06453-041-São Paulo-Brazil

Conway House - Cranfield MK43 0FQ - United Kingdom

Tel: +1 (954) 377-0320 Fax: +1 (954) 377-0300

Tel: +1 (704) 990-7090 Fax: +1 (704) 990-7094

Tel: +55 (11) 3588-0311

Tel: +44 (1234) 817-770

(Invoicing/Contracting Address)

OFFICES WORLDWIDE

AircraftPer&SpecFeb16.qxp_PerfspecDecember06 19/01/2016 10:02 Page 3

CES SNA CITA TION X+

CES SNA CITA TION X

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

CES SNA CITA TION LATI TUD E

CES SNA CITA TION XLS +

CES SNA CITA TION XLS

MEDIUM JETS

CES SNA CITA TION EXC EL

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

$2,416.04

$2,343.14

$2,302.54

$2,935.67

$2,791.82

$2,699.38

$4,031.50

$4,098.69

CABIN HEIGHT FT.

5.7

CABIN WIDTH FT.

5.5

6.42

5.5

CABIN LENGTH FT.

18.5

28.08

25.25

23.92

25.2

CABIN VOLUME CU.FT.

422

587

571

585

538

593

DOOR HEIGHT FT.

4.54

4.5

4.58

4.5

DOOR WIDTH FT.

2.5

2.1

BAGGAGE VOL. INT. CU.FT.

BAGGAGE VOL. EXT. CU.FT.

100

CREW #

SEATS - EXECUTIVE #

MTOW LBS

20000

20200

30800

30300

30755

36100

36600

MLW LBS

18700

27575

27100

27575

31800

32000

B.O.W. W/CREW LBS

12500

12800

18656

18150

18510

22025

22464

USEABLE FUEL LBS

6740

11394

11223

11390

12931

PAYLOAD WITH FULL FUEL LBS

960

860

1000

1177

1125

1444

1505

MAX. PAYLOAD LBS

2500

2300

2544

2650

2490

2375

2514

RANGE - SEATS FULL N.M.

1449

1539

1528

2455

2620

2773

2890

3229

MAX. RANGE N.M. (4 PAX)

1786

1871

1896

2787

2920

3095

3140

3370

BALANCED FIELD LENGTH FT.

4060

3910

3760

3810

3650

5480

5320

LANDING DIST. (FACTORED) FT.

4917

4738

3597

3867

3725

4693

4702

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

3790

3500

3800

4016

3650

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

699

800

1145

1237

1120

MAX. CRUISE SPEED KTAS

433

440

429

459

525

527

NORMAL CRUISE SPEED KTAS

433

440

429

459

525

527

L/RANGE CRUISE SPEED KTAS

373

372

388

470

PW545A

PW545B

PW545C

PW306D

PW306C

PW306D

AE 3007C1

AE 3007C2

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

110

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Aircraft Index see Page 161

SA_TVA-A350_AvBuyer_Jan_205x270mm.pdf 1 12/4/2015 3:49:40 PM

AircraftPer&SpecFeb16.qxp_PerfspecDecember06 19/01/2016 10:02 Page 4

G28 0

G15 0

$3,885.15

$2,789.09

$3,179.78

$2,599.23

$2,380.09

$3,162.73

$2,683.99

CABIN HEIGHT FT.

5.7

5.9

5.6

5.75

6.25

5.6

CABIN WIDTH FT.

5.5

6.1

6.83

4.75

5.75

7.2

4.75

CABIN LENGTH FT.

18.4

23.5

27.5

17.1

17.7

32.25

17.1

CABIN VOLUME CU.FT.

422

569

705

823

215

521

888

304

DOOR HEIGHT FT.

5.42

5.22

4.3

4.33

4.3

DOOR WIDTH FT.

2.6

2.4

1.91

2.08

2.1

2.75

2.08

BAGGAGE VOL. INT. CU.FT.

BAGGAGE VOL. EXT. CU.FT.

150

126

120

CREW #

SEATS - EXECUTIVE #

MTOW LBS

23000

39700

35271

37919

24650

26100

39600

24650

MLW LBS

20000

35715

32518

34127

20700

21700

32700

20700

B.O.W. W/CREW LBS

14250

22250

22928

23437

14365

15100

24150

13400

USEABLE FUEL LBS

7330

15520

10851

13058

9365

10300

14600

9345

PAYLOAD WITH FULL FUEL LBS

1620

2130

1627

1600

920

850

1000

2055

MAX. PAYLOAD LBS

2250

3320

2976

3062

2635

2400

4050

3600

RANGE - SEATS FULL N.M.

1693

3223

2521

3027

2550

2760

3590

2330

MAX. RANGE N.M. (4 PAX)

1742

3366

2575

3125

2790

3018

3400

2644

BALANCED FIELD LENGTH FT.

5170

5000

3825

4084

6000

5640

4800

6400

LANDING DIST. (FACTORED) FT.

4500

3500

3472

2114

4362

4050

5083

4362

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

4315

3515

3866

3400

3340

5000

3700

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

510

671

996

891

493

606

844

1010

MAX. CRUISE SPEED KTAS

452

480

470

467

474

470

482

460

NORMAL CRUISE SPEED KTAS

452

459

447

459

470

448

L/RANGE CRUISE SPEED KTAS

417

430

438

440

430

459

414

TFE 731-4R-2

TFE 731-40

HTF7500E

TFE 731-40R

TFE 731-40AR

HTF 7250G

TFE 731-3C

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

IAI A STR A SP

$3,296.80

MEDIUM JETS

GUL FSTR EAM

G10 0 GUL FSTR EAM

EMB RAE R LE GAC Y 50 0

EMB RAE R LE GAC Y 45 0

DAS SAU LT F ALC ON 50E X

CES SNA CITA TION VII

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

112

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Aircraft Index see Page 161

❚

Join European business leaders, government officials, manufacturers, corporate aviation department personnel and all those involved in business aviation for the European Business Aviation Convention & Exhibition (EBACE2016). Visit the EBACE website to learn more and register today.

AirCompAnalysis FEB16.qxp_ACAn 18/01/2016 15:47 Page 1

FLIGHT DEPARTMENT ❚ AIRCRAFT COMPARATIVE

Aircraft Comparative Analysis: Airbus AS350-B3

In this month’s Aircraft Comparative Analysis, Mike Chase provides information on two popular Single Turbine Helicopters for the purpose of valuing the Airbus (Eurocopter) AS350-B3.

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

114

ver the following paragraphs, we’ll consider productivity parameters (payload/range, speed and cabin size) and cover current and future market values for Airbus AS350-B3s. The field in this comparative study includes the Bell LongRanger 206L-4.

Brief History

The AS350-B3 Ecureuil is the high performance version of the single-engine Ecureuil series. It features a more powerful engine than the AS350-B2 Ecureuil along with improved engine control via a twist grip on the collective-pitch lever. In North America, this model is commonly known as the AS350-B3 AStar, and it was later also manufactured in American Eurocopter's plant at Golden Triangle Airport in Lowndes County near Columbus, Mississippi. In 2010, a new serialization sequence was started for the

AVBUYER MAGAZINE – February 2016

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AS350-B3, beginning with serial number 7001. The AS350 B3 was produced from 1997 to 2012. The H125 (formerly the AS-350B-3e) replaced it on the market following the end of its production.

Worldwide Appeal

There are 1,023 wholly-owned AS350-B3 helicopters in operation worldwide. In addition there are seven in shared ownership and two in fractional ownership (total operational fleet of 1,032). 131 units (or 12.7% of the AS350-B3 in operation fleet) are leased, according to JETNET. By continent, North America has the largest fleet percentage (39%), followed by Europe (31%) and South America (10%), for a combined total of 80%. Additionally, 46% of the 1,032 AS350-B3 helicopters in operation today are in fleet ownership. The largest fleet operator (Air Methods in Englewood, CO, USA) has 46 helicopters. Aircraft Index see Page 161

IBA February.qxp 20/01/2016 14:38 Page 1

1988 Eurocopter BK117 B-1

• Price: On application • S/N: 7142 • Reg: N150KF • TTAF: 13,492 • Cycles: 55,639 • Location: USA

1990 Airbus/Eurocopter AS332 L1 Super Puma

• Price: On application • S/N: 2317 • Reg: VH-LHG • TTAF: 17,502 • Cycles: 25,405 • Location: Australia

1990 Airbus/Eurocopter AS332 L1 Super Puma • Price: On application • S/N: 2319 • Reg: VH-LAF • TTAF: 21,411 • Cycles: 31,503 • Location: Canada

2006 Airbus/Eurocopter AS332 L1

• Price: On application • S/N: 9008 • Reg: VH-LYP • TTAF: 4,539 • Cycles: 6,741 • Location: Australia

International Bureau of Aviation Tel: +44 (0)1372 224488

Email: Ken.Sewell@ibagroup.com

AirCompAnalysis FEB16.qxp_ACAn 18/01/2016 15:51 Page 2

FLIGHT DEPARTMENT ❚ AIRCRAFT COMPARATIVE

Table A - Payload & Range

Payload & Range

MTOW (lb)

Max Fuel (lb)

Fuel Usage (GPH)

Max Payload (lb)

Avail Payload w/Max Fuel (lb)

Max Fuel Range (nm) 4 Pax

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

Airbus AS350B3

4,960

939

1,647

708

300

359

Bell 206L4

4,450

742

1,479

737

270

321

Model

Source: Data courtesy of Conklin & de Decker, Orleans, MA, USA; JETNET; ACC – Aircraft Cost Calculator; B&CA May 2015 Purchase Planning Handbook and Aug. 2015 Operations Planning Guide

Chart A - Cabin Cross-Sections

The data contained in Table A are published in the B&CA, May 2015 issue, but are also sourced from Conklin & de Decker. As we’ve mentioned in past articles, a potential operator should focus on payload capability as a key factor. The AS350-B3 ‘Available Payload with Maximum Fuel’ at 708 pounds is slightly less than the Bell 206L-4 at 737 pounds. In addition, Table A shows the fuel usage by each aircraft in this field of study. The AS350-B3 burns the most fuel at 45 gallons per hour (GPH) of the two comparative helicopters. The Bell 206L-4 is the most frugal (37 GPH) according to Aircraft Cost Calculator.

Cabin Cross-Sections

According to Conklin & de Decker, the AS350-B3 cabin volume is 61 cubic feet and its cabin length is 6.56 ft. The Bell 206L-4 is larger in cabin volume - 73 cu. ft. - but shorter in length at 5 ft. Chart A (courtesy of UPCAST JETBOOK) shows the side-byside comparisons. The AS350B3 offers a significantly wider, and slightly taller cabin than the Bell 206L-4. To explain the larger cabin volume for the Bell model, Conklin & de Decker clarifies there are differences between the models. Not included in the calculation is pilot area. It should be noted that the AS350 includes the copilot as a passenger so that portion is included in the cabin volume but the Bell 206 doesn’t. The AS350 also curves while the Bell 206 cabin is square. Lots of space is therefore not countable for the AS350.

Source: UPCAST JETBOOK

Chart B - Range Comparison Airbus/Eurocopter AS350-B3 Bell 206L4

292.50 Nm 246.68 Nm

Range Comparison

Source: Aircraft Cost Calculator

116

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As depicted by Chart B and using Centennial Airport, Colorado (home to Air Methods’ 46 unit AS350-B3 helicopter fleet) as the origin point, the AS350-B3 shows more range coverage than the Bell 206L-4, as sourced from Aircraft Cost Calculator (ACC). Note: The lines depicted do not include winds aloft or any other weather-related obstacles. Aircraft Index see Page 161

AirCompAnalysis FEB16.qxp_ACAn 19/01/2016 14:55 Page 3

Chart C - Variable Cost

Powerplant Details

The AS350-B3 is powered by a single Turbomeca Arriel 2B engine with the highest power rating value of 847 SHD compared to the Bell 206L-4 helicopter with 726 SHD from its single Rolls-Royce 250-C30P engine. The transmission rating is a limiting factor in the total rated and usable engine power output.

US $ per hour $0

$400

$200

$600

Airbus AS350-B3

Q $743

Q $661

Bell 206-L4

Total Variable Cost

The ‘Total Variable Cost’ illustrated in Chart C is defined as the Cost of Fuel Expense, Maintenance Labor Expense, Scheduled Parts Expense and Miscellaneous Trip Expense. The Total Variable Cost for the AS350-B3 computes at $743 per hour, which is 12.4% more than the Bell 206L-4 ($661 per hour).

Table B - Aircraft Comparison

Aircraft Comparison Table

Table B contains the pre-owned prices from Vref Pricing Guide for each aircraft. The average speed, cabin volume and maximum payload values are from Conklin & de Decker and B&CA, while the number of aircraft in-operation and percentage ‘For Sale’ are as reported by JETNET. The AS350-B3 has 5.9% of its fleet currently ‘For Sale’ and the Bell 206L-4 has 5.5% for sale. The average number of preowned transactions (sold) per month for the AS350-B3 is higher at five per month than the Bell 206L-4 at four per month, as shown in the last column of the table.

Long Range Speed (kts)

Cabin Volume (cu ft.)

Max Max P/L fuel w/avail Payload w/avail VFR range fuel range (nm) (nm)

Used Used Vref Price US$m $m2012

In-Operation

% For Sale

New & Pre-owned Sold*

Gulfstream Airbus AS350-B3 GV

459 122

1595 61

5,416 359

$16.5 ‘02 $1.850

1,033 191

12.0% 5.9%

20 5

Falcon Bell 206L-4 7X

459 110

1506 73

5,000 321

$25.0 ‘07 $1.750

236 622

9.3% 5.5%

36 4

Model

Data courtesy of Conklin & de Decker, Orleans, MA, USA; JETNET; Vref; Operations Planning Guide B&CA

Table C - Part 91 & 135 MACRS Schedule

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). In certain cases, helicopters may not qualify under the MACRS system and must be depreciated under the less Advertising Enquiries see Page 4

MACRS SCHEDULE FOR PART 91 Year Deduction

20.00 %

32.00 %

19.20 %

11.52 %

5.76 %

MACRS SCHEDULE FOR PART 135 Year Deduction

14.29 %

24.49 %

17.49 %

12.49 %

8.93 %

8.92 %

8.93 %

4.46 %

Source: NBAA

! www.AVBUYER.com

February 2016 – AVBUYER MAGAZINE

117

AirCompAnalysis FEB16.qxp_ACAn 18/01/2016 15:53 Page 4

FLIGHT DEPARTMENT ❚ AIRCRAFT COMPARATIVE

Table D - Part 91 & 135 MACRS Schedule 2012 AIRBUS AS350-B3 - PRIVATE (PART 91) Full Retail Price - Million Year

$1.850 1

20.00 %

32.00 %

19.2 %

11.5 %

5.8 %

Depreciation ($M)

$0.4

0.6

0.4

0.2

0.1

Depreciation Value ($M)

$1.5

0.9

0.5

0.3

0.1

Cum. Depreciation ($M)

$0.4

1.0

1.3

1.5

1.7

1.9

Full Retail Price - Million

$1.850

Rate (%)

2012 AIRBUS AS350-B3 - CHARTER (PART 135) Year

14.3 %

24.5 %

17.5 %

12.5 %

8.9 %

4.5 %

Depreciation ($M)

$0.26

0.45

0.32

0.23

0.17

0.08

Depreciation Value ($M)

$1.59

1.13

0.81

0.58

0.41

0.25

0.08

0.00

Cum. Depreciation ($M)

$0.3

0.7

1.0

1.3

1.4

1.6

1.8

1.9

Rate (%)

Source: Vref

Chart D - Value & Demand The Market for a Used Airbus AS350-B3 Compared to Bell 206L-4

favorable Alternative Depreciation System (ADS) where depreciation is based on a straight-line method, meaning that equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are longer than recovery periods available under MACRS. There are a variety of factors that taxpayers must consider in determining if a helicopter may be depreciated, and if so, the correct depreciation method and recovery period that should be utilized. For example, helicopters used in charter service (i.e. Part 135) are normally depreciated under MACRS over a seven-year recovery period or under ADS using a twelve-year recovery period. Helicopters 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 helicopters, such as non-business flights, that may have an impact on the allowable depreciation deduction available in a given year. Table D depicts an example of using the MACRS schedule for a 2012 model Airbus AS350-B3 helicopter in private (Part 91) and charter (Part 135) operations over five and seven-year periods, assuming a used retail value of $1.85m, per Vref Pricing guide.

Asking Prices vs Age, Airframe Total Time & Quantity

Chart D, sourced from the Multidimensional Economic Evaluators Inc. (www.meevaluators.com), shows a Value and Demand chart for the pre-owned AS350-B3. The current pre-owned market for the AS350-B3 helicopter shows a total of 69 aircraft ‘For Sale’ with 23 displaying an asking price, thus we have plotted them. We also added the pre-owned Bell 206L-4 in our study group with asking prices ranging from $500k to $2.8m. The equation that we derived from these asking prices and other criteria used

118

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Aircraft Index see Page 161

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Productivity Comparisons

The points in Chart E are centered on the same aircraft. Pricing used in the vertical axis is as published in the Vref Pricing Guide. The productivity index requires further discussion in that the factors used can be somewhat arbitrary. Productivity can be defined (and it is here) as the multiple of three factors: 1. 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. Others may choose different parameters, but serious business aircraft buyers are usually Advertising Enquiries see Page 4

Chart E - Productivity Price (Millions)

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. Thus, the market for used AS350-B3 and Bell 206 L-4 helicopters responds to at least four features: Years, Useful Load, Quantity, and Asking Prices.

$3.0 $2.5

Airbus AS350B3

$2.0

Bell 206L4

$1.5 $1.0 $0.5 $0.0 0.0000

0.1000

0.2000

Index

0.3000

0.4000

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

impressed with Price, Range, Speed and Cabin Size. After consideration of the Price, Range, Speed and Cabin Size, we can conclude that the Airbus AS350-B3 displays a high level of productivity. Popular attributes of the Airbus AS350-B3 are greater range and long-range cruise speed compared to the Bell 206L-4. However, price and the variable cost per hour are higher for the Airbus AS350-B3 and the

available payload is lower. Thus both helicopters are very strong competitors. Operators should weigh their mission requirements precisely when picking the option that is the best for them.

Summary

Within the preceding paragraphs we have touched upon several of the attributes that business aircraft operators value. There are other qualities such as airport performance, terminal area per-

www.AVBUYER.com

formance, and time-to-climb that might factor in a buying decision, however. The Airbus AS350-B3 continues to be very popular on today’s market. Those operators in the market should find the preceding comparison useful. Our expectations are that the Airbus AS350-B3, which started delivering in 1997, will continue to do very well in the pre-owned markets for the foreseeable future. ❚ February 2016 – AVBUYER MAGAZINE

119

Community News 1 Feb16.qxp_Layout 1 19/01/2016 16:59 Page 1

COMMUNITY NEWS ❚ BIZAV REVIEW

The Politics of Business Aviation Choose Wisely Ahead of This Year’s US Election 2016 will be the most important election in Business Aviation history. Sound like a familiar cliché? Not according to Avjet’s Andrew Bradley… Andrew C. Bradley is President, Global Sales & Acquisitions at Avjet Corporation, an international provider of aircraft charter and management solutions. The company is headquartered in Burbank, California, and maintains a global presence in Washington D.C., Seoul, Dubai, Abu Dhabi, Moscow and other locations around the globe. To learn more about the company, visit www.avjet.com

120

s I write this article, I am only a few hours away from President Obama’s last State of the Union Address. No doubt, the President will skip over many of the issues we face to identify the virtues of his Presidency. But for those of us in General and Business Aviation, the news has been anything but good. On the day I write this, oil briefly touched below $30 a barrel; Iran announced it had seized two US Naval ships; and all of the business news channels believe China’s hyper growth story is over. The past few weeks’ headlines have been highlighted by the Paris terror attacks; a crashing Chinese Stock market; tension in the Middle East between Saudi Arabia and Iran; and questions about the true path of growth in the US.

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

During the past seven years since the so-called recovery began our industry hasn’t experienced much of it, and as the general election looms I would caution our industry to consider each candidate carefully when it comes time to vote. Some of the reason for our industry’s struggle is out of our control, but not all of it… I made the argument in 2009 that our industry’s size is tantamount to a rounding error when compared to the auto or financial industries (for example). Our voices were never going to be loud enough to convince the country our industry needed to be saved, and additionally we found ourselves directly in the cross-hairs every day due to the fact those who own private jets are the most insulated from global shocks. ! Aircraft Index see Page 161

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COMMUNITY NEWS ❚ BIZAV REVIEW

Seeing how the Government nationalized the finance and auto industries, though, I’m glad we didn’t get a handout. With that being said, however, I’ve continually argued that we did a poor job as an industry in explaining the benefits of General and Business Aviation. As we enter the general election we need to collectively do a much better job educating the public about what our industry entails. The same is true on Capitol Hill where we have always taken a back seat to the commercial aviation industry. Given the financial clout of General and Business Aviation ownership I’ve always found this aspect hard to comprehend. The next President could potentially be someone drastically different than in the past judging by the varied list of candidates—some of whom are complete outsiders. Choose carefully. How do their interests align with our industry? Do they know our industry? What are their previous experiences of Business Aviation? It would be foolish to think that Business Aviation would be at the forefront of any of the candidates’ priority list from either party. That being said vote for the 122

AVBUYER MAGAZINE – February 2016

candidate who can restore our country to moral, political and economic prosperity and the rest will take care of itself, including our industry.

Our Industry is Lagging

Take a look at the US economy; you will see many industries who’ve in fact begun to recover. The housing industry has seen US home construction nearly back at 2007 levels and US home builders are seeing stock prices reach similar levels. The US auto industry has recovered too, with nearly 16 million sales last year compared to 13 million in 2008. Profits at most of the major banks and financial institutions have recovered in the past few years. Following the financial crisis, everyone had their hands out for assistance and many received. Our industry was not one of them. Over the past 24 months inventories of private business jets have been steadily rising and prices have been plunging. This has been especially true in the Super Mid-Size and Large jet segments. More disturbing is that unlike in past years, right after the crisis subsided, it is no longer the older jets or smaller www.AVBUYER.com

jets that are depreciating rapidly, it’s all jets. In the past those who owned smaller jets were less insulated to global shocks or headline news events, but now it seems that even those with the greatest financial resources are taking pause. Most disturbing is that even record low oil prices (and hence much lower fuel cost - the largest single operating cost of owning a jet) haven’t been able to stabilize pricing and inventory. In fact, during a 70% slide in crude oil prices in 2015, Large Cabin & Ultra-Long Range jet values fell nearly 30% in the same period. In some markets the turnabout has been nothing short of extraordinary. Only two years ago, just-delivered Gulfstream G650s were exchanging hands in the secondary market with $1012m premiums. Most traded “off market” while those that were placed on the market were usually under contract in under a week (sometimes less than a day). Inventory never got above 1-2 units and buyers were tripping over themselves to be the next in line. Today there are 16 for sale, and average time on the market is measured in months, not days. In Q4 2015 alone G650 prices fell almost 7% and ended the year down 17% overall. We are about to see the first pre-owned G650 trade below its actual acquisition price when purchased new. Many of the same stories abound in the Gulfstream G450/G550 and Bombardier Global 5000 and 6000 markets. Just this month Falcon reported sales of new aircraft were down 72%. Last year Bombardier cut production back for the Global 5000 and 6000 by 30%, delayed the expected first delivery date of the Global 7000 flagship, and announced layoffs after cancelling the Learjet 85 program. The bad news in Business Aviation is getting worse, not better.

US: A ‘Buyer of Last Resort’?

Another concern I have is that the US is becoming the ‘Buyer of Last Resort’ entering 2016. In many of the markets Avjet Corporation sells and buys jets in, nearly all activity—both buying and selling—is a domestic affair. Back in 2010 and 2011 as we began to see jet sales recover somewhat it was the emerging economies of Asian countries that took the lead in buying both new and pre-owned business jets. As oil prices began to recover the Aircraft Index see Page 161

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COMMUNITY NEWS ❚ BIZAV REVIEW The Politics of Business Aviation continued from p122

Middle East began to enter the frame again, as did other nations tied to oil like Russia. The BRIC countries (Brazil, Russia, India and China) were the headline stories in Business Aviation. That’s all evaporated in the past twenty four months. Business Aviation’s success in 2016 will depend squarely on the US. In 2015 almost 70% of buyers in the G650 market were domestic. In the G450 and G550 markets the numbers were 65% and 85% respectively. All three of these aircraft are highly sought-after and still in production. Make no mistake, Business Aviation’s recovery will depend on who the next US president is and how he or she guides our economy along the right path.

Make it Count…

The picture I’ve painted above isn’t pretty, but its reality and we’re at an inflection point in this country where the next four or eight years could be the difference between our success and failure as an industry. Much has been said for the list of unconventional candidates, some of whom have been ridiculed, but there’s a reason some of those unconventional candidates are resonating with voters and are leading the polls. They are the voice of the disenfranchised, those who struggle as much now as they did in 2009 at the height of the crisis. Much is made of the ‘inexperience’ of

some of these candidates by the more conventional candidates, but pushing conventional experience aside, you must assess what each candidate can offer. After all, we have a shrinking $18 trillion economy hampered by a fast growing $19 trillion debt. We have dubious unemployment numbers that fail to mention that the workforce participate rate is declining as the tax burden on those who do work rises. We have a foreign policy that is beholden to special interests. Many of the foreign policy failures, social policy failures and economic policy failures have had dire consequences. Many have impacted General and Business Aviation. As we get ready to elect the next president we need make sure we vote for someone who can both put the US back on course and help Business Aviation grow out of the recession we’ve been mired in for far too long. Don’t rule out any candidate automatically, and don’t assume ‘experience’ is the solution to our problems. Above all, choose a candidate who understands Business Aviation but most importantly choose a candidate that is best at restoring America’s political, moral, and economic standing as a world superpower. That and only that will restore Business Aviation back on the path of growth. ❚ More information from www.avjet.com

OEM Bites AgustaWestland is now rebranded as Finmeccanica Helicopters. This is part of a wider overall corporate reorganization plan that merges Finmeccanica's aerospace, defense and security assets. www.finmeccanica.com CHALLENGER 650

In other Bombardier-related news, the Challenger 650 has entered operational service with US fractional ownership provider NetJets. www.bombardier.com Cirrus Aircraft’s new Vision SF50 jet is some months away from receiving FAA certification, according to a recent article in the Grand Forks Herald, though production of the groundbreaking small personal jet has been underway for some time. www.cirrusaircraft.com Daher delivered a total of 55 TBM 900s in 2015 (a 10% increase compared to 2014, TBM 900

Bombardier Business Aircraft will increase the number of direct-to-market sales channels, terminating third-party sales-representative and distribution agreements, with the aim of improving long-term profitability. The company is also restructuring customer commercial agreements. In line with this change, Bombardier and TAG Aeronautics have “amicably elected” to end their contractual agreements. 124

AVBUYER MAGAZINE – February 2016

and the second best year since the first TBM single-engine turboprop aircraft was delivered to a customer in 1991). Daher’s TBM 900 is the latest member of its TBM family, following the company’s earlier TBM 850 and TBM 700 versions. To date, a total of 767 TBM aircraft have been delivered to international owners and operators. www.tbm.aero Dassault Falcon sales declined by 72 percent last year compared with 2014, according to preliminary numbers released by the company. In 2015, Dassault reported 45 Falcon sales, but a NetJets cancellation of 20 Falcon 2000s brought the net tally to just 25 aircraft. Dassault will release its full 2015 financial performance later this month. www.dassaultfalcon.com Embraer recently handed over the first Legacy 450 to a Florida-based customer. This milestone came four months after the seven-seat aircraft secured US type certification. The company also announced it will extend the range of the Legacy 450 to 2,900nm, representing an increase of 325nm. www.embraerexecutivejets.com

www.AVBUYER.com

Aircraft Index see Page 161

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COMMUNITY NEWS ❚ BIZAV REVIEW

OEM Bites Epic Aircraft ended 2015 on a high note after the maiden flight of its first conforming E1000 single-engine turboprop. The achievement gives lift to the project that started in 2012, when Epic chief executive Doug King filed an application to certificate an updated, FAA-certified version of the company’s LT kit plane. www.epicaircraft.com

BIZAV Associations

GAMA:

Recently thanked the US Congress for passing an omnibus measure that includes key funding priorities for General Aviation manufacturers in safety, certification, and alternative fuels for piston-engine aircraft, makes permanent the Research & Development (R&D) tax credit, and extends bonus depreciation for five years. The bill will fund the US government through September 30, 2016. www.GAMA.aero

NARA:

Announced its new Board of Directors and the newly appointed Products & Services Member Advisory Council. “We are excited to have our board in place to kick off the New Year, and I look forward to working closely with the new board members to support our goals and initiatives for the future,” stated Johnny Foster, Chairman of NARA, and President & CEO, OGARAJETS.

EPIC E1000

Gulfstream delivered a Gulfstream G650ER to Qatar Airways in a recent ceremony - the first of up to 30 Gulfstream aircraft Qatar Airways has agreed to purchase. The sale, a combination of firm orders and options, includes the flagship G650ER as well as the G500 and G600. www.gulfstream.com Textron Aviation is no longer building the Citation CJ2+ light business jet, a second-generation CJ2, though the company has said it could build one if a customer requested it. Customers prefer the Citation M2, an upgraded CJ1. www.txtav.com

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BUSINESS AVIATION INTELLIGENCE

126

AVBUYER MAGAZINE – February 2016

The new NARA Board of Directors: Chairman: Johnny Foster (OGARAJETS) Secretary: Sabrina Prewitt (Jack Prewitt & Associates) Treasurer: Matt Bosco (Axis Aviation Group) Board Member: Chad Anderson (Jetcraft Corporation) Board Member: Todd Jackson (Elliott Jets) Board Member: Mitch McCune (Corporate Fleet Services) Board Member: Brian Proctor (Mente Group) NARA Products & Services Member Advisory Council: Chairman: Wayne Starling (PNC Aviation Finance (Also on NARA Board)) 1st Vice Chairman: Paul Cardarelli (JETNET (Also on NARA Board)) 2nd Vice Chairman: Jonathan Levy (Advocate Consulting Legal Group) Secretary: Stephan Asper (AIC Title Service) www.naraaircraft.com NATA:

Celebrated its 75th anniversary on December 28, 2015. The trade group has grown from 83 member companies at its inception, to nearly 2,300 today across the country. “Looking ahead, the future of NATA is bright as we embark on our next 75 years,” noted Thomas Hendricks, the organization’s president and CEO. www.nata.aero

NBAA:

The Domestic Operations Committee has created a four-page NBAA Customs Checklists resource to assist BizAv operators in meeting Customs and Border Protection requirements at US ports of entry. “The challenge was addressing local policies and logistical requirements that vary among the CBP ports of entry,” said Ron Bojanski, CAM, Canadian operations manager at Midwest Aviation/Kiewit Engineering, who led the project. www.nbaa.org

Shanghai General Aviation Association: As reported recently in ShanghaiDaily.com. Ten local General Aviation companies have established the city’s first General Aviation Association to meet the rising demand for the industry in the East China region. The SGAA, approved by the CAA of China, will set up a resources bank to share talents including pilots, maintenance workers and air traffic controllers among the companies. An expert panel will also be established to research the city’s GA development. ! www.AVBUYER.com

Aircraft Index see Page 161

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COMMUNITY NEWS ❚ BIZAV REVIEW

People In Aviation Mark Bloomer and Brant Dahlfors - teamed up to form Bloomer deVere Dahlfors, providing a range of business jet transaction services, including acquisition, marketing, options analysis and other consulting services. The firm has offices in Los Angeles, San Jose, Palm Beach and Newport Beach, California. Lee Bowes has been named central US regional manager for Duncan Aviation. In this position, Bowes will help business aircraft operators in the central part of the United States become more familiar with the comprehensive service capabilities offered by Duncan Aviation.

Alan Hung

Jeffrey Gilley, the National Business Aviation Association’s long-time director of airports and ground infrastructure, is retiring. Alan Hung was recently appointed to the position of director of business development Asia-Pacific region on behalf of Jet Support Services, Inc. (JSSI), the leading provider of hourly cost maintenance programs for the Business Aviation industry.

Nicolas Robinson

Kirk Stephen

with a background in Learjet, Challenger and Global aircraft. Dave Labrozzi takes up the reins as COO at private aircraft finance provider Global Jet Capital. Labrozzi spent 35 years with the GE group, of which 22 years were focused on the Business Aviation sector. Brian Leitschuck has joined Duncan Aviation’s paint and interior completions sales team. He originally started at Duncan in 1999 and most recently he served as a design engineer for Gulfstream. Nicolas Robinson has been promoted to the position of regional vice president of new Gulfstream aircraft Sales for Africa. Robinson is based at the Gulfstream Sales and Design Center in Mayfair, London. Antonio Santos joined Montreal-based BizAv support company ACASS as director of sales.

William Jewer joined Innotech Aviation as Central US regional sales manager. Jewer has 35 years of aviation experience and 20 years in Business Aviation.

Kirk Stephen has been named director of marketing at Meridian, the award-winning private aviation company based at Teterboro Airport. Stephen has 20 years of marketing experience with an extensive background in brand management.

Denis Jubinville was named president of the recently launched aircraft acquisitions and sales company, The Dow Group. Jubinville has 18 years aviation sales and marketing experience,

Gary Winkle who has 20 years of aviation experience, joins Global Jet Services as an instructor. Winkle has a background in avionics systems. ❚

BizAv Events - Singapore Airshow Singapore 2016 to increase BizAv focus

Every two years, Asia’s largest aerospace event attracts high-level Government and many delegations, as well as senior corporate executives from all corners of the world. This year sees an increased focus on Business Aviation… Singapore Airshow 2016, held this year between February 16-21 at the Changi Exhibition Centre will introduce a Business Aviation Zone with participation from the full range of global OEMs including Airbus Group, Bell Helicopter, Boeing, Bombardier, Dassault Falcon, Embraer, Gulfstream, Texrtron Aviation and more. Exhibitors in this zone can choose to host their guests in either the hospitality chalets or the speciality gazebos, with an added option of displaying their aircraft at the static aircraft display area. The new Business Aviation Zone is designed to offer a unique opportunity for the entire spectrum of the Business Aviation market - from aircraft manufacturers to FBOs and parts suppliers - to showcase their products and services to top business leaders, entrepreneurs, wealth creators and other purchase decision-makers who will be attending the event. More from www.singaporeairshow.com 128

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Aircraft Index see Page 161

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BizAv Events 2016 Corporate Jet & Helicopter Investor London 2016 NBAA: BizAv Finance Reg & Legal Conference Singapore Airshow NBAA: Leadership Conference HAI HELI-EXPO 2016 Abu Dhabi Air Expo European Corporate Aviation Summit Int’l Women in Aviation Conference India Aviation 2016 Corporate Jet & Helicopter Investor Dubai 2016 NBAA: International Operators Conference Nigerian Business Aviation Conference 2016 FIDAE Sun ‘n’ Fun Fly-In ABACE 2016 Aviation Electronics Europe NARA Annual Spring Meeting Aero Friedrichshafen AEA (Aircraft Electronics Association Convention) NBAA: Maintenance Management Conference NBAA: Business Aviation Taxes Seminar NAFA: Conf. & Aircraft Education Seminar HeliRussia 2016 EBACE: (European Business Aviation Convention) Advertising Enquiries see Page 4

Feb 1 - 4 Feb 10 – 12 Feb 16 – 21 Feb 22 – 24 Mar 1 – 3 Mar 8 – 10 Mar 9 Mar 10 – 12 Mar 16 – 20 Mar 21 – 22 Mar 21 – 24 Mar 24 – 25 Mar 29 – Apr 3 Apr 5 – 10 Apr 12 – 14 Apr 20 – 21 Apr 20 - 22 Apr 20 – 23 Apr 27 - 30 May 3 – 5 May 6 May 11 – 13 May 19 – 21 May 24 – 26

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www.AVBUYER.com

www.corporatejetinvestor.com www. nbaa.org www.singaporeairshow.com.sg www.nbaa.org www.heliexpo.rotor.org www.abudhabiairexpo.com www. aeropodium.com www.wai.org www.india-aviation.in www.corporatejetinvestor.com www.nbaa.org www.nbac.com.ng www.fidae.cl www.sun-n-fun.org www.abace.aero www.ae-expo.eu www.naraaircraft.com www.messe-Friedrichshafen.de www.aea.net www.nbaa.org www.nbaa.org www.nafa.aero www.helirussia.ru www.nbaa.org/www.ebace.aero February 2016 – AVBUYER MAGAZINE

129

Global Jet Challenger 604 February.qxp_Layout 1 20/01/2016 14:25 Page 1

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Florian Van Der Cruyssen Call: +377 9777 01 04 !lorian.vandercruyssen@globaljetmonaco.com www.globalconcept.com

Global Jet Global 6000 February.qxp_Layout 1 20/01/2016 14:26 Page 1

2014 Bombardier Global 6000 Asking Price: MAKE OFFER

444 hours

193 cycles

S/N: 9559

Certi!ied for 4 crew members and 15 passengers for taxi, takeâ&#x20AC;?off and landing Engines on Rolls Royce Corporate Care

APU on Honeywell Maintenance Service plan

EUâ&#x20AC;?OPS 1 compliant for commercial operations Very nice customised interior

Florian Van Der Cruyssen Call: +377 9777 01 04 !lorian.vandercruyssen@globaljetmonaco.com www.globalconcept.com

Global Jet dps February.qxp 20/01/2016 12:47 Page 1

S H O W C A S E

Boeing 737-800 / BBJ2 ASKING PRICE: $37,5M On 1st February the BBJ2 will be delivered with a Brand New Exterior Paint Serial Number: Registration:

32777 OE-ILX

Airframe TT: Landings:

4222 1705

· This EU-OPS 1 certified aircraft will meet all of your expectations and beyond.

· It also offers a great cargo space, with nearly 900ft3 of storage available.

· This business jet is a unique product on the market. It features 6 auxiliary fuel tanks (1 fwd + 5 aft) for a capacity of 30t, which give it the best range in its category.

· Last Major maintenance: The 9 years C Check as well as the landing gears overhaul were performed in June 2012. The airplane has been maintained to the highest standard of the industry and all maintenances are up to date. Global Jet Monaco Florian Van Der Cruyssen, Aircraft Sales Director, L'Albatros, 9, bd Albert 1er, MC - 98000 Monaco

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Global Jet dps February.qxp 20/01/2016 12:47 Page 2

S H O W C A S E

· This exclusive interior manufactured by a German completion centre is truly comfortable and sophisticated and is able to accommodate 19 passengers. · The aircraft was fully refurbished (interior) in April 2009 and constantly groomed by the owner during all the past years.

· It features internet access, Ipod stations, Ipads, 2 lounge areas, a bedroom and a bathroom with a VIP shower. · The cabin of this Boeing BBJ2 can be turned into a sleeping configuration of 14 beds and is certified for commercial operations.

Tel: +377 97 77 01 04 E-mail: florian.vandercruyssen@ globaljetmonaco.com www.globaljetconcept.com Advertising Enquiries see Page 4

www.AvBuyer.com

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Jet Sense Aviation, LLC Challenger 300 February.qxp_Empyrean 21/01/2016 09:54 Page 1

S H O W C A S E

Price to $10,995,000 2007 Challenger 300 Serial Number: Registration: Airframe TT: Landings:

20149 N377RA 2,132 1,006

2007 Challenger 300. World Ready, 2000 TTAF, MSP Gold, ATG-5000 WiFi, 3rd Generation Interior! Fresh 96/m and Gear Inspection at Flying Colours in St. Louis. New striping change - new owner still has time to pick out scheme. Aggressively priced at $10,995,000 Engines Honeywell AS907 HTF7000 L SN: P118392. TT: 2132 - MSP Gold. Cycles: 1006 R SN: P118391. TT: 2132 - MSP Gold. Cycles: 1006 APU Honeywell GTCP36-150 (BD). Hours - 1477. MSP Gold Avionics ! COMM: Dual VFH ! NAVS: 3D Navigation Map ! RADAR: Solid State Weather Radar w/ Turbulence Indication ! FMS: Dual FMS 5000 Flight Management Systems ! A/P: Autopilot / Dual Flight Directors ! TCAS: TCAS II

! HF Radio: Dual HF w/SELCAL ! EICAS: Engine indication and crew alerting system w/ diagnosis ! IFIS: Four 12 x 10-inch adaptive flight displays ! IRS: Dual Inertial Reference System ! ADF: Dual ADF ! CVR: Universal CVR-120 Cockpit Voice Recorder ! DME: Dual Collins DME-442 ! ELT: Artex C406-2 MHz ELT w/Nav Interface Features ! 1 Owner Since New ! MSP Gold Engines ! 3rd Generation Interior ! RVSM Capable ! Low Time ! Belted Lav ! JAR/OPS Interior This aircraft has the optioned 3rd Generation Interior which features Premium Plating, Signature Series Premium Carpet and Real Wood Veneer and upgraded entertainment system. Seats 9 passenger with double club configuration. Belted lav for 9th passenger. Interior is in Excellent condition. 9/10 Aircraft was always hangared Exterior Overall white with blue & tan stripe. Paint is in excellent condition, overall 8/10

Jet Sense Aviation, LLC Contact: Brett Forrester 550 N. Rand Road, Lake Zurich, Illinois 60047

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Maintenance Delivered with with a Fresh 96/m and Gear OH at Flying Colours in St. Louis. All previous maintenance done by Jet Aviation Basel, AeroDienst and Ruag

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

Aircraft Index see Page 161

Jet Sense Aviation, LLC Citation Excel February.qxp_Empyrean 21/01/2016 09:56 Page 1

S H O W C A S E

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

5217 N550DU 4,105 3,254

• World Ready • APU, TCAS II, Flight Data Recorder • On MSG 3 and Pro Parts • All Service Bulletins Complied With • Recent High Speed Turbine Blade Replacement on Both Engines ($400,000) • $2,695,000 Engines P&W 545A Left Engine Hours: 4,104 Cycles: 3,256 Right Engine Hours: 4,104 Cycles: 3,256 APU Allied Signal RE100XL -- Hours - 2,005 Avionics Honeywell Primus 1000 ! TCAS-94D TCAS II with change 7.1 ! Dual Honeywell P-1000 EFIS ! Dual Honeywell ADC- 850D Air Data Computers ! UNS - 1ESP FMS ! Dual Honeywell ADF DF-850 ! Fairchild FA 2100 CVR ! Dual Honeywell VHF TR-833 ! Dual Honeywell DME DM - 850 ! Dual Honeywell NAV NV-850 ! Dual Honeywell XS-852B with Mode S ! Honeywell 880 Weather Radar

! Artex C406 ! Honeywell FDR Features Enrolled in ProParts. TCAS II Change 7.1 New Hi Speed Turbine Blades ($400,000) MSG-3 Maintenance Program EU - OPS compatible Airshow 400. Enrolled in CESCOM Two Corporate Owners since new All SB's c/w. R.V.S.M. Capable Precise Pulselight system. Based in Dayton, Ohio Interior Forward two seat divan in the forward area. Four Single "club seat arrangement", and two single aft seats. Two heated liquid containers, right hand forward storage cabinet, aft left hand storage cabinet and toilet. Aft centerline closet with aft bulkhead mirror. Aft cabin dividers with wood veneer doors Exterior Overall White with Green and Beige Accent Striping Maintenance All Mandatory, Recommended, Optional and Discretionary Service Bulletins Complied with. Fresh Pre-buy along with a Doc 1-4, Doc 7, 16, 34, 35, 37, 40, 43, 44, 50 -- All C/W at TAG Aviation in Geneva. Fresh Import and US Standard Certificate of Airworthiness

Jet Sense Aviation, LLC Contact: Brett Forrester 550 N. Rand Road, Lake Zurich, Illinois 60047

Advertising Enquiries see Page 4

www.AvBuyer.com

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

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Jet Sense Aviation, LLC 1993 Lear 60 February.qxp_Empyrean 21/01/2016 09:58 Page 1

S H O W C A S E

Price Reduced to $1,595,000 1993 Bombardier Lear 60 Serial Number: Registration: Airframe TT: Landings:

0014 N862PA 7,915 5,297

This early model Lear 60 comes with some recent upgrades ATG-5000 Wi-Fi [$130,000], Dual UNS 1E's, Engines on ESP Gold. Recent A,B,C Inspections - Recent Paint and Interior. Asking $1,595,000 Engines Serial No.: PCE-305134 PCE-305135 TSN: 7749 7880 Engines Enrolled On ESP GOLD Avionics ! TCAS II: ALLIED SIGNAL ! EGPWS: BENDIX/KING KGP 860 ! FMS: 2 UNS 1E's ! HF: KHF 950/SELCAL ! ADF: 2 COL ADF 462 ! COMMS: 2 COL VHF 422A ! DME: 2 COL DME 442 ! TXPR: COLLINS TDR 94D ! RADAR: COL TWR 850 ! ALT: COL ALT 55 ! GPS: 2 GPS 4000

Features ! ATG-5000 ! Wi-Fi [$130,000] ! Dual UNS 1E's ! Refurbished interior items 2013 ! New Paint 2012 ! Part 135 ! 3 owners always US Interior New 2012 - Very good condition. Fwd 2 Pl Divan, 5 Executive Chairs, Lav, Expanded Baggage Area, Built-in Liquor Cabinet, 10.4 Monitor, DVD, Airshow 200, Map Package, 110 Volt Outlet, Fireblocked Exterior New 2012. White, Red, Grey Stripes Maintenance Fresh A,B,C Complied With - Precision Jet Florida. 12 Year Due 11/17

Jet Sense Aviation, LLC Contact: Brett Forrester 550 N. Rand Road, Lake Zurich, Illinois 60047

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

Aircraft Index see Page 161

Jet Sense Aviation, LLC Lear 60XR sn 60-319 February.qxp_Empyrean 21/01/2016 09:59 Page 1

S H O W C A S E

Price Reduced to $3,795,000 2007 Lear 60XR Serial Number: Registration: Airframe TT: Landings:

319 N814TS 4,925 3,434

2007 Lear 60XR with 5,000 TTAF, ESP Gold, ATG-5000 WiFi. New and Upgraded Interior in 2014 to provide more space. Fresh APU OH and PreBuy. Ready to go and priced at $3,795,000. Engines LEFT ENGINE: P & WC 305A. Hours: 4835. Cycles: 3367 RIGHT ENGINE: P & WC 305A.Hours: 4835. Cycles: 3367 Engines are covered under the P & WC ESP Gold Program. Engine contract number is 1490-01 APU Sundstrand T-20G-10C3A APU, S/N SPE050459, 1305 APU hours / 2427 APU events Avionics Collins Proline 21 Avionics System includes: ! Dual Collins ADC-850D Air Data Computers ! Dual Collins AHC-85E Attitude Heading Computers ! Dual Collins FMC-5000 Flight ManagementSystem ! Dual Collins FCC-850A Flight Control Computers ! Dual Collins VIR-432 Nav Units ! Dual Collins VHF-422AComm Units ! Four Tube Collins AFD-301 0 with 7” X 8” Displays

! Electronic Flight Instrumentation System (EFIS) ! Collins WXR-840 Color Weather Radar System Interior Flying Colours, St. Louis. Upgraded Beautiful New Interior June 2014. Fireblocked, XR Executive Floor plan A (Eight passengers) (7) passenger seats and one (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. The headliner and sidewalls are Milkweed Ultraleather. The chairs are covered in Heritage Mink and Heritage Bramble leather from Townsend Leather Exterior Bombardier Completion Center, Wichita, Kansas, September 2007. Top fuselage is Matterhorn white. Bottom fuselage is Royal blue. Accent stripes are red and blue Additional Equipment ! R.V.S.M. Capable ! Honeywell Mark V EGPWS with Windshear Alert ! Universal CVR-120 Cockpit Voice Recorder ! TCAS-94D TCAS II with change 7 ! TIA microwave oven ! Artex C406-2 MHz ELT w/Nav Interface ! Pulselights ! Dual Concorde lead acid batteries ! Fwd and Aft Monitors (L.C.D.) ! Airshow 410

Jet Sense Aviation, LLC Contact: Brett Forrester 550 N. Rand Road, Lake Zurich, Illinois 60047

Advertising Enquiries see Page 4

www.AvBuyer.com

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

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Jet Sense Aviation, LLC Lear 60XR-348 January.qxp_Empyrean 21/01/2016 10:00 Page 1

S H O W C A S E

Price Reduced to $3,895,000 2008 Lear 60XR Serial Number: Registration: Airframe TT: Landings:

348 N550DG 3,915 2,676

• Bombardier maintained • New Paint Striping 2015

Distance Measuring Equipment: Dual Collins Navigation: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

Engines P&WC305A Left Engine: Hours: 3915- ESP GOLD Cycles: 2628 Right Engine: Hours: 3915 - ESP GOLD Cycles: 2622

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

APU Sundstrand T-20G-10C3A APU. Hours - 1190

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

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

Exterior Top Fuselage is Matterhorn white. Bottom fuselage is Royal blue, Silver accept stripes Maintenance Recent A - D inspections

Jet Sense Aviation, LLC Contact: Brett Forrester 550 N. Rand Road, Lake Zurich, Illinois 60047

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

Aircraft Index see Page 161

Jet Sense Aviation, LLC Premier 1A January.qxp_Empyrean 21/01/2016 10:02 Page 1

S H O W C A S E

2007 Beechcraft Premier 1A Serial Number: Registration: Airframe TT: Landings:

RB-166 N36866 2,573 2,676

• On TAP ELITE • $2,095,000 Factory Optional Equipment TCAS 4000 TCAS II Collins Traffic Alert and Collision Avoidance System with Dual Collins (Mode S) TDR-94D’s Transponders Collins XM Satellite Graphical Weather Collins ECH-5000 electronic charts software Sidewall Armrest: Laminate covered with wood trim

WXR-800 Radar Dual CDU-3000 Control Display Units WXR-800 Radar CVR- L3-Communications FA2100 RJ-45 FMS and file server access jack Interior Beautiful Six Passenger Interior High Gloss laminate cabinetry Light Tan leather seats, sidewalls and carpet Aged Brass Plating Exterior Overall white with Red and Green Accent striping Notes **No Damage History **Always Beech maintained

Avionics Collins Proline 21 w/ 3-Tube 10x8 Inch EFIS Displays Dual VHF-4000 digital VHF Comm transceivers Single Nav-4500 Nav Receiver Dual TDR-94D Mode S transponder ALT-4000 Radio Altimeter Flight Guidance System FGC-3000 autopilot DME-4000 MD-3110 Maintenance Diagnostic Computer Single Nav-4000 VHF Nav Receiver Honeywell Mark V EGPWS FMS-3000 w/ GPS 4000A

Jet Sense Aviation, LLC Contact: Brett Forrester 550 N. Rand Road, Lake Zurich, Illinois 60047

Advertising Enquiries see Page 4

www.AvBuyer.com

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

February 2016 – AVBUYER MAGAZINE

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Albinati Aeronautics February.qxp 21/01/2016 10:04 Page 1

S H O W C A S E

2012 Beechcraft King Air 250 Serial Number: Airframe TT: Landings:

BY-142 412 363

Warranties (started June 2012): Airframe & Avionics – 5 years Engines – 5 years or 2500 hours Engines Pratt & Whitney PT6A-52 LH: S/N PCE-RX0412. 412 TT / 363 CSN RH: S/N PCE-RX0411. 412 TT / 363 CSN Avionics Collins Proline 21 Avionics System with 3 (8x10 inc) color, active matrix liquid crystal displays AHRS 2 Collins AHC-3000 ADC 2 Collins ADC-3000 FMS 2 Collins FMS-3000 (incl. DME II) GPS 1 Collins GPS-4000S RTU 1 Collins RTU-4220 NAV 2 Collins NAV-4000 and NAV-4500 ADF 1 Collins ADF DME 1 Collins DME-4000 VHF 2 Collins VHF-4000 w/8.33KHz spacing XPDR 2 Collins TDR-94D Mode S with Enhanced Surveillance and Flight ID TCAS II 1 Collins TTR-4000 TCAS EGPWS Mark V EGPWS with TAWS+ Radar 1 Collins WXR-850 ESIS GH-3100 ESIS MDC 1 Collins Maintenance Diagnostic System MDC-3110 ESIS ESIS L3 Communications GH-3100

Additional Equipment ACARS Worldwide Graphical Electronic Charts Cockpit Voice Recorder L3 Communications FA2100 Crew Seat Sheepskin Slipcovers Interior Configuration: Two (2) Cockpit, nine (9) Cabin passengers seats comprising • two (2) facing forwards seats • Club 4 with two (2) fold-out executive tables • two (2) jump seats in the aft cabin • one (1) Aft Potty belted seat LH Fwd Refreshment Center Colors: Satin finished wood veneer – Parchment Leather Exterior Overall white with black and light saddle metallic stripes Asking price: make offer

ALBINATI AERONAUTICS SA P.O. BOX 44 1215 GENEVA 15 AIRPORT SWITZERLAND

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Stefano Albinati Tel: +41 (0) 22 306 1060 E-mail: info@albinati.aero Web: www.albinati.aero Aircraft Index see Page 161

CAAP x2 February.qxp 19/01/2016 14:58 Page 1

S H O W C A S E

2000 Hawker 800XP2 Serial Number: Airframe TT: Landings:

258494 3,138 1,497

CAAP is pleased to offer Hawker 800XP2, N55LB, to the market. This meticulously maintained aircraft represents a true turn-key airplane for a discerning buyer. This aircraft is enrolled on Honeywell MSP Gold and features an outstanding interior. The aircraft is equipped with Aviation Partners scimitar tip Blended Winglets Airframe CAMP Systems maintenance tracking Aviation Partners, Inc. scimitar tip Blended Winglets installed in June 2014 Engines Honeywell TFE731-5BR-1H Engines enrolled in MSP Gold

Asking price $2,995,000

(current rate $277.98/hr per engine) Engine #1: S/N P-107259, TSN 3027, CSN 1450, TSMPI 935 Engine #2: S/N P-107533, TSN 3097, CSN 1480, TSMPI 1300 Auxiliary Power Unit Garrett GTCP36-150W APU enrolled in Honeywell MSP Gold (current rate $89.48/hr) APU TSN 2068 Avionics Honeywell ED-800 Five-tube / Primus II avionics package FMS: Dual Honeywell NZ-2000 with dualchannel GPS ADC: Dual Honeywell ADZ-810 AP: Honeywell DFZ-800 NAV: Dual Honeywell RNZ-850

COMM: Dual Honeywell RCZ-850 with 8.33 kHz spacing Dual HF Radios RTU: Dual Honeywell RM-855 AHRS: Dual Honeywell AH-600 Radio Altimeter: Honeywell AA-300 Stormscope: LSZ-850 EGPWS CVR: Universal CVR-30B. TCAS 2000 Interior 8-passenger executive interior with forward 4-place club group, aft LH single seat opposite RH 3-place divan Three pull-out tables Removable jumpseat for flight crewmember use only Forward LH galley with microwave oven Interior Overall white with royal blue, fighter blue and gold stripes, repainted in 2008, restriped in 2013

Price Reduced to $21.5 million

New Gulfstream 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 (two pilots and two technicians at FlightSafety). 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 Aircell Gogo Biz high-speed internet

Corporate Aviation Analysis & Planning Inc 97 Village Lane, Suite 100, Colleyville, TX 76034, USA Advertising Enquiries see Page 4

www.AvBuyer.com

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

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CAI TBM 700C2 February.qxp 19/01/2016 15:00 Page 1

S H O W C A S E

2003 TBM 700C2 Serial Number: Registration: Airframe TT:

261 G-MCMC 920

• Two Private Owners Since New! • Aircraft Acquired By Current Owner in 2006 • Only 920 Hours Total Time Since New! • Excellent Condition and Equipped with: 2-Tube EFIS-40 Dual Garmin 530W’s Honeywell IHAS-8000 with TAS & TAWS Honeywell KMD-850 MFD BF WX-500 Stormscope Artex 406 ELT • Freon Air Conditioning • No Damage History • Excellent Maintenance Performed by Daher-Socata A+ and 10 Year Inspection Complied with at 885.4 hours Annual Inspection and C+ Inspection Complied with at 915.9 hours Engine • Pratt & Whitney PT6A-64 (3,500 Hour TBO) 920 Hours TTSN (2,580 hours until engine overhaul due) Avionics • 2-Tube Color EFIS (EHSI/EADI) • 1 KFC 325 A/P (Auto-Pilot)

• 2 Garmin GNS 530 (IFR Com/Nav GPS) • 1 Radar Altimeter KRA 405B • 1 Multi-Function Display Honeywell KMD 850 • 2 Transponder Garmin GTX 327/330 • 1 Weather Radar Honeywell RDR 2000 • Honeywell IAHS including: • KMH 880 (TAS Traffic Alert System & Terrain Warning System) • WX 500 Stormscope displayed on Honeywell KMD 850 • 2 Airspeed Indicator • 2 Vertical Speed Indicator • 1 Electrical Attitude Indicator • 1 Vacuum Stand-By Attitude Indicator • Engine Control Gauges • Electric Pitch and Rudder Trim • Gas Generator Tachometer • Shadin ETM 700 Engine Trent Monitoring System Interior Six place VIP interior with comfortable beige leather seats, burr walnut panelling and contrasting “Ultrasuede” headlining with beige carpeting

Aircraft Available Immediately and based in Tarbes, France Aircraft to be ferried to the U.S. shortly

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

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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 161

Reed Aviation January.qxp 19/01/2016 15:07 Page 1

S H O W C A S E

2014 Citation X+ Serial Number: Airframe TT: Landings:

750-505 164 140

Aircraft Highlight ! Enrolled on Rolls Royce Corporate Care ! Factory warranties through 2019 ! Forward and aft 4 place club seating (Double Club) ! Extended Refreshment Center ! Light grey interior with rich wood accents ! LED Cabin Lighting ! Garmin G5000 Avionics Suite with Touch-Screen Control Panels ! Garmin Synthetic Vision Technology ! Autothrottles

Interior 4-place forward and aft club seating with light grey interior and rich wood accents Exterior Overall white with blue and maroon separating strips

Avionics Garmin 5000 Avionics Suite TCAS II GWX 70 Weather Radar Dual GTX-3000 Transponders Dual RVSM Air Data Computers GRA 5500 Radio Altimeter Stormscope GDL 59 Data Link GDR 66 VHF Data Link

Reed Aviation Randall Mize & Chad Beaulieu

Advertising Enquiries see Page 4

www.AvBuyer.com

Tel: +1 (888) 685 0320 E-mail: Info@reedaviation.com www.reedaviation.com

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Mente 1/2 January.qxp 19/01/2016 15:10 Page 1

S H O W C A S E

1998 Hawker 800XP

Delray Dobbins, Cell: +1 (214) 551-5151 Tel: +1 (214) 351-9595 E-mail: ddobbins@mentegroup.com

Serial Number: Registration: Airframe TT: Landings:

- Dee Howard Thrust Reversers - Precise Pulselights - CAMP Maint. Tracking - DeVore Tel-Tail Lighting Interior Interior 2006, 8 pax (5 beige leather seats with a 3 place navy fabric divan) plus belted lav. Forward galley with Corian work surface, ice drawer, lighted crystal display, microwave, hot coffee, and china storage. Mar 2015 updates include re-dyed seats, new carpet / padding, new headliner, lower sidewalls recovered; new Flightfloor in galley, cockpit, and on steps; LED lighting on lower sidewalls and headliner, new sound insulation, new DVD/CD player with Bluetooth control, new stereo speakers Exterior Paint 2002, touched up in 2015. New LH & RH Windshield 03/15

258369 N621WH 6274.6 5400

Engines Honeywell TFE731-5BR-1H Engine Program: MSP Gold Left Engine s/n P107350 Current Time: 6162 hrs, 5292 cycles - MPI c/w 4191 hours (07/08) next due 6291 hours - CZI c/w 4191 hours (07/08) next due 8391 hours Right Engine s/n P107311 Current Time: 6078 hours, 5249 cycles - MPI c/w 4226 hours (11/08) next due 6232 hours - CZI c/w 4226 hours (11/08) next due 8400 hours APU Honeywell GTCP36-150 (W) APU Program : MSP 4290 Hours 5400 Cycles

Avionics Avionics Program Collins CASP ADF Collins ADF-462 Air Data Computer Dual Collins ADC-850D Avionics Package Collins EFIS-86E 5-tube / Pro Line 4 Comm Radios Dual Collins VHF-422C w/ 8.33 spacing CVR Universal CVR-30B DME Dual Collins DME-442 FMS Dual Universal UNS-1D w GPS Flightphone Magnastar C-2000 w Dual Handset (service off) GPS Dual Collins GPS-4000 Hi-Frequency Collins HF-9000 w SELCAL Nav Radios Dual Collins VIR-432 w FM Immunity Radar Altimeter Collins ALT-55B Additional Features - Airshow 400 - Wired for Wi-Fi - Long Range Oxygen

www.mentegroup.com Smart Solutions for Private Aviation

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

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

Aircraft Index see Page 161

JetPro Texas Lear 45 / Caravan February.qxp 20/01/2016 14:44 Page 1

S H O W C A S E

1998 Bombardier Learjet 45 Serial Number: Registration: Airframe TT: Landings:

10 N556JP 4,947 3,538

Airframe • FRESH BOMBARIER PRE PURCHASE • ON CAMP • NEW PAINT Engines MSP Gold Engines: Honeywell TFE731-20AR-1B Engines with 3,500 lbs of thrust each Enrolled on Honeywell’s MSP Gold Engine 1 s/n P-111130-C 4,947 SNEW. 3,538 CSN. 2,527SMPI Engine 2 s/n P-111131-C 4,832 SNEW. 3,445 CSN. 742 SMPI

APU APU: Honeywell RE100 s/n P-180 TTSN 1,423 Enrolled On Honeywell’s MSP Gold Avionics Avionics: Enrolled On Honeywell’s HAAP 4 Tube HONEYWELL PRIMUS 1000 EFIS Universal UNS-1C FMS Garmin 165 2nd IFR GPS Dual Honeywell RCZ-851 Comm Units Dual Honeywell RNZ-851 Nav Units Honeywell PRIMUS 660 RADAR Honeywell PRIMUS 1000 Autopilot Honeywell TCAS II w/Change 7.0 Honeywell CD-850 CLRNC DEL UNIT Artex C-406-2 ELT Universal Class A TAWS

Honeywell CVR-30 CVR L3 Communications FA2100 SSFDR Honeywell RT-300 Radar Altimeter Interior The eight passenger interior is arranged in a center club with an additional 9th belted lavatory seat. Seats are finished in gray leather with new carpet, and Ultra Leather headliner. Amenities include a forward right-hand galley with dry storage and hot coffee dispenser, ice drawer with overboard drain. 110v Outlets in the cabin, galley and aft lav. There is a private aft flushing lavatory with vanity with hot and cold running water, hard partitions and additional baggage storage with the optional flip down baggage shelf. Interior refurbished 7/2015 Exterior All new paint September 2015. Overall white with flight red, black and metallic charcoal stripes

2013 Cessna Caravan 208B Grand EX Serial Number: Registration: Airframe TT: Landings:

208B5048 N248JP 1103 630

• TKS Deice System • Cargo Pod • 11 Passanger Commuter Interior • King KTA-870 TCAS Engines Pratt and Whitney Canada PT6A-140 – 867 SHP s/n PCE-VE0053 Avionics Garmin G1000 Integrated Cockpit System with two Primary Flight Displays and a center Multifunction Display Dual Avionics Master Switch

Dual Garmin Comms Dual Garmin Navs Dual Garmin GDC 74A Air Data Computers Dual Garmin GRS 77 AHRS Garmin GEA 71 Engine/Airframe Unit Garmin GFC700 Autopilot / Yaw Damper Garmin GTX-33 Mode S Transponder Garmin GWX-68 Color Weather Radar Garmin TAWS B Garmin GMA 1374 Audio System King KN-63 DME Receiver King KR-87 ADF Receiver King KRA-405B Radio Altimeter King KTA-870 TCAS Interior 11 place commuter interior with two crew seats, three

Please contact: Don and Sam Starling

Advertising Enquiries see Page 4

www.AvBuyer.com

right hand two place seats opposite three single seats with aft cabin baggage restraint – Excellent Condition Exterior Will be delivered overall white with dove gray cargo pod, vinyl stipes and vinyl registration numbers – Excellent Condition. Call for price in Customer’s Livery Additional Features TKS Deice System Cargo Pod Artex ME-406 2-Freq ELT Dual Avionics Master Switch Cabin PA System Rudder Gust Lock STC FA2100 CVR/FDR Provisions King KHF-1050 HF Radio Provisions

Tel: +1 (254) 848 9192 Mob: +1 (254) 716 2981 E-mail: sales@jetprotexas.com www.jetprotexas.com February 2016 – AVBUYER MAGAZINE

147

Hawkeye Aircraft Acquisitions February.qxp 19/01/2016 15:12 Page 1

S H O W C A S E

2013 Legacy 650 Serial Number: Airframe TT:

14501181 750

• Embraer Executive Care Enhanced • All major maintenance done by Embraer Service Centers • Fresh 24 month inspection 10/15 • High Speed Sat data and independent GoGo Biz • 13 passenger interior with forward and aft lavatory • Galley includes microwave, convection oven, refrigerator, coffee maker Engines Engines on Rolls Royce Corporate Care

Interior 13 passenger interior with forward and aft lavatory Galley includes microwave, convection oven, refrigerator, coffee maker Inspection All major maintenance done by Embraer Service Centers Fresh 24 month inspection 10/15 Additional Features Honeywell Ovation Cabin entertainment system 2 HD Monitors, 2 Blue Ray DVD’s Sat phone Irridium and Imarsat High Speed Sat data and independent GoGo Biz

APU APU covered by EEC Avionics Honeywell Primus Elite 6.1 with latest updates LPV/WAAS, RNP FANS 1/A CPDLC, Datalink, ADS-B out 2 EFB’s with Electronic Charts

Best equipped on market - Competitively priced

This plane not what you are looking for - Call us to help you find the right aircraft. Hawkeye Aircraft Acquisitions LLC Mike McCracken, President P.O. Box 345 Safety Harbor, Florida 34695, USA "See the Difference"

148

AVBUYER MAGAZINE – February 2016

Tel: +1 727.796.0903 Email: info@hawkeye-aircraft.com

Acquisitions/Certified Appraisals/Aircraft Valuation www.AVBUYER.com

Aircraft Index see Page 161

Flight Level Businss February.qxp_Heeren Cit Ultra sep 21/01/2016 12:19 Page 1

S H O W C A S E

Beechcraft King Air C90B Serial Number: Registration:

Airframe TT: Landings:

LJ-1391 F-GPLK

4750 3852

Immaculate 1995 Blackhwak C90B under JSSI contract for both engines, Full Raisebeck, LPV-PRNAV mod, New Paint 2014, New Interior 2014, Hawkeye digilog, 10 500 lbs MTOW STC, EASA AOC operated, Cleveland wheels and brakes, both 6 pax and 8 pax configuration. Fresh Phase 3+4 Jan 2016.Last Landing gear Overhaul Jan 2014 Engines Blackhawk STC PT6A 135A installed JAN 2014 both under JSSI fully transferable contract. TTSN 600H

DME: Rockwell Collins 42 GPS: Garmin 400w For LPV App Transponders: Dual Rockwell CollinsTDR 94D ELT ARTEX C406-2 Interior Completely refurbished interior in 2014 (seat, carpets, tables, wall panels, overhead panel), in a cream leather done at AIP Le Bourget Exterior New 2014 Paint, dar metalic grey with white and blue metallic stripes Location France Price: 1,750,000 USD –

Propellers Hartzell HC-D4N-3C STC Raisebeck QuietProp Overhauled in 2011 and 2012 Avionics 3 TUBE EFD-85 Dual DPU (both upgraded for LPV-PRNAV APP) Comms: Dual Rockwell Collins VHF 22C Navs: Dual Rockwell Collins VIR 22C ADF: Rockwell Collins 60A Radar Altimeter: Rockwell Collins ALT-50A Autopilot: APC-65H

Flight Level Business Arnaud Louvet Immeuble Le Grand Roissy 35, rue de Guivry, 77990 Le Mesnil-Amelot, France Advertising Enquiries see Page 4

www.AvBuyer.com

Tel: +33 (0) 631 682 739 Email: contact@flbusiness.fr www.flbusiness.fr

February 2016 – AVBUYER MAGAZINE 149

AeroSmith Penny Hawker 125 February.qxp 19/01/2016 15:14 Page 1

S H O W C A S E

1990 Hawker 125-800A Serial Number: Registration: Airframe TT: Landings:

258158 N800AF 10,032 5,699

THIS AIRCRAFT IS THE MOST UP TO DATE MAINTENANCE HAWKER 800A IN THE WORLD AND BEST EQUIPPED HAWKER 800A FOR SALE.

THE 48 MONTH (E,F,G) INSPECTIONS, 4 & 8 YEAR X-RAYS, 10,000 HR & GEAR OVERHAUL – AT WEST STAR HAS BEEN COMPLETED.

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

150

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Tel: +1 (713) 649-6100 Fax: +1 (713) 649-8417 Email: aspinfo@aerosmithpenny.com www.aerosmithpenny.com Aircraft Index see Page 161

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Sean - Products & Services February.qxp_Layout 1 20/01/2016 16:22 Page 1

BIZAV PRODUCTS & SERVICES Asset Insight has introduced a newly developed service, the Asset Decision-making And Planning Tool (“ADAPT”), providing anyone responsible for managing a fleet the ability to keep aircraft maintenance condition and related financial information up-to-date and accurate using real-time analytics. ADAPT allows fleet owners, operators, aircraft management companies, banks, lessors, dealers and brokers to manage the financial aspects of aircraft maintenance for their entire fleet, a sub-set of their fleet, and by individual aircraft. www.assetinsightinc.com Avcon Industries, subsidiary of Butler National, has added the Learjet 20 series with the XR wing modification to its hushkit supplemental type certificate (STC), and now all models of the Learjet 24 and 25 have met the December 31, 2015 Stage 3 noise limits. The modification does not restrict maximum operating altitudes of all of the Learjet 24/25 models, which includes the straight wing, Mark II, XR and Century III, according to Avcon. www.avconindustries.com ARGUS International (ARGUS) has announced the integration of Flight Tax System’s world-class aviation tax software into AVMOSYS flight scheduling software. Flight Tax Systems is a web-based application designed to assist owners, operators and tax professionals track the tax-related activities associated with their aircraft. www.aviationresearch.com Conklin & de Decker has announced LIFE CYCLE COST Release 16.1 is available and now incorporates a 5-year condensed format from the Aircraft Cost Analysis Program that was acquired from Sam Miller in 2014 by Conklin & de Decker. The most innovative and comprehensive aircraft budget & financial analysis tool in the industry, LIFE CYCLE COST (LCC) provides aircraft owners, operators, flight department managers, and aircraft consultants with independently researched ownership and operating cost data for more than 460 jet, turboprop, helicopter and piston aircraft. www.conklindd.com Flying Colours Corp., the North American MRO, completions, and refurbishment company has successfully secured a Supplemental Type Certificate for ADS-B OUT for Bombardier Challenger 300 airframes, from the FAA. The STC will be submitted for validation by both Transport Canada and Europe’s EASA this year. www.Flyingcolourscorp.com GAMA Aviation, the UK-based global aircraft charter, management and FBO services provider has agreed to purchase Aviation Beauport, a privately owned FBO and aircraft charter/management company located on the channel island of Jersey. The nearly $8 million transaction includes a modern FBO terminal with 12-seat conference room, pilots' lounge, passenger lounge and business center, as well as a hangar capable of sheltering aircraft up to the size of a Dassault Falcon 2000. www.gamaaviation.com Garmin’s Product Support Team was honored with the top spot in Professional Pilot Magazine’s 2016 Avionics Product Support Survey. The accolade, which was voted on by customers, was Garmin’s 12th award in as many years. The survey, which is administered annually by Pro Pilot, consists of grades in product reliability, speed in AOG service, costs of parts, manuals or CDs, technical representatives, and support from manufacturer, culminating in an overall score. www.garmin.com

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AVBUYER MAGAZINE – February 2016

GlobalParts.aero and Bombardier Business Aircraft have entered into a strategic collaboration for all inventory of the Learjet 20, Learjet 30, and Learjet 50 series aircraft. GlobalParts.aero, a Kansas-based aviation parts supplier, will take over the primary responsibility for all planning, stocking and distribution of aircraft parts of these Learjet series aircraft. Approximately 2,000 Learjet 20, Learjet 30, and Learjet 50 series aircraft were produced from the 1960s into the early 2000s, with the majority still in service. www.globalparts.aero Gogo Business Aviation UCS 5000 smart cabin system is to be installed on Gulfstream GV and GIV aircraft, following approval from the FAA. UCS 5000 interfaces with Iridium and SwiftBroadband systems. The equipment’s router provides wireless service to multiple users, manages multiple data networks and enables passengers to use their smartphones for calling and texting in flight. It also provides access to approximately 200 movies and TV shows. www.gogoair.com HAITEC welcomed new customer Icelandair to Hahn Airport for the first of several nose-to-tail B757 C-Checks. Iceland has become a significant and strategic growth market for HAITEC as the MRO provides maintenance services to the three major airlines Air Atlanta Icelandic, WOW Air and now Icelandair. Iceland’s unique geographical location midway between Northern Europe and the Eastern coast of the USA is the basis for Icelandair’s strategy. With a growing fleet of currently 24x B757 and 2x B767 aircraft, Icelandair continues to record double-digit growth in number of passengers. “Their progress is simply quite astonishing,” states Frank Rott, CEO at HAITEC. ”Our long-term ambition is to be part of the ongoing Icelandair success story.” www.haitec.aero IJM & MENA Team for Success. This newly formed entity is a joint venture between MENA Aerospace subsidiary MAE Aircraft Management and Austria-based International Jet Management (IJM). IJM MENA is based at the hangar complex of MENA Aerospace at Bahrain International Airport, and holds an Aircraft Operating Certificate (AOC) issued by the Kingdom of Bahrain’s Civil Aviation Affairs. International Jet Management was founded in 2003 and has over 100 employees at its headquarters in Vienna and offices in central Europe and the Far East with currently 30 aircraft under their management. The recently formed partnership have added a Lear Jet 60XR to their fleet, and IJM MENA will handle all aspects of management for the new plane, including flight planning, maintenance and accounting. www.mena.aero Jet Aviation is to expand its U.S. FBO network to the West Coast, following an announcement by Los Angeles World Airports that the General Dynamics subsidiary was awarded a 30-year lease to establish a new location at Van Nuys Airport. The $40 million project will also include a maintenance facility under the management of sister company Gulfstream Aerospace. www.jetaviation.com

www.AVBUYER.com

Aircraft Index see Page 161

Sean - Products & Services February.qxp_Layout 1 20/01/2016 16:22 Page 2

BIZAV PRODUCTS & SERVICES Jet Aviation Basel recently installed two Rockwell Collins Pro Line 21 avionics upgrades one on a Dassault Falcon 2000 and the other on a Dassault Falcon 2000EX. The company has also developed a Pro Line 21 support kit to reduce expected downtime of such installations to six weeks. www.jetaviation.com JETNET the leading provider of corporate aviation information, announced two new features for its Evolution Aerodex service. A new Airport/FBO View provides an analysis tool for companies providing (or looking to provide) operational support at a specific airport, and an Estimated Airframe Times feature offers much better insight into individual aircraft usage. Both are being offered as free upgrades for existing subscribers. www.jetnet.com Lufthansa Technik's completion center has finished the VVIP cabin conversion of the second Boeing 747-8 in Hamburg. The aircraft has now been delivered to an undisclosed customer. Another aircraft of this type is currently undergoing completion. Lufthansa Technik AG has at times equipped three 747-8 in parallel. In the past the company equipped fourteen aircraft of the predecessors to the current Boeing 747-8 and is thus the leading provider for this aircraft type throughout the entire industry. www.lufthansa-technik.com MedAire, the world’s leading integrated aviation and maritime provider of medical, travel and safety services and Control Risks, the global business risk consultancy, launched Travel Risk Map 2016 to help organisations better understand the risks in the markets where they operate and travel. MedAire and International SOS have published a Health Risk Map since 2010. The map was renamed to Travel Risk Map for 2016 to take into account the newly added travel security risk ratings. It is the industry’s first integrated medical and travel security risk map. www.travelriskmap.com Par Avion and Mexico City-Based Performance Air have formalized a strategic marketing partnership for buying and selling business aircraft in an effort to facilitate a broader reach between the Americas. Par Avion and Performance Air each occupy important strategic bases. Through combined efforts, each firm is now able to provide a more immediate and personal reach to prospects located within their respective geographical regions. While both companies have a strong presence in the international arena, the focus of this agreement will be on Latin America and building stronger pathways to facilitate the sale of business aircraft to the global marketplace. Both firms have extensive experience with various models of purpose built business aircraft, chief among which are from Bombardier, Cessna, Dassault, Embraer, and Gulfstream. www.paravionltd.com Raisbeck Engineering treleased 2016 pricing for its product offerings for the entire line of King Air models. New and more deeply discounted Combination Packages are also being offered. Bill Cadow‚ VP‚ Sales, made the announcement. “We have worked closely with our suppliers and are joining them to pass these savings on to our dealers and end-users. www.raisbeck.com Rockwell Collins Pro Line Fusion integrated avionics system played a key role in the successful first flight of the Mitsubishi Regional Jet, which recently took place in Japan. It also

Advertising Enquiries see Page 4

introduced new Corporate Aircraft Service Program offerings that provide aircraft customers with more flexibility for maintenance and service. And, in a move to address the growing demand for abundant, easy-to-load onboard entertainment and information, Rockwell Collins introduced Stage content service, an airworthy, subscription-based media streaming solution for corporate and private aircraft. www.rockwellcollins.com StandardAero, working in conjunction with Rockwell Collins, has completed its first Rockwell Collins TTR-4100 TCAS 7.1 Supplemental Type Certificate (STC) for a Falcon 50EX aircraft. This new TTR-4100 TCAS processor replaces the aircraft’s existing TTR-920 processor and incorporates new 7.1 logic required to meet the Eurocontrol December 1, 2015 mandate. In addition to meeting the required mandates, the new 7.1 logic also enhances crew awareness of traffic situations and allows either aircraft to issue resolution advisory reversals in the event an approaching aircraft does not follow ATC or TCAS instructions to avoid a conflict. www.standardaero.com

TAG Aviation’s maintenance Service Centre located at Le Bourget Airport in Paris has become an Authorised Business and Regional Systems (BRS) Dealer following a new cooperation with Rockwell Collins. Under this collaboration and the terms of the 4-year agreement, TAG is set to provide Rockwell Collins avionics and cabin sales and support solutions to its customers worldwide. www.tagaviation.com Universal Avionics Systems new Touch CDU app for the Flight Management System Trainer desktop software is now available. The company unveiled the UniLink Desktop Training Software for Future Air Navigation System (FANS) environment familiarization. Universal Avionics also introduced Software Control Number 31.0, for the UniLink UL-800/801 Communications Management Unit (CMU) and, Universal Avionics named Field Aviation as its 2015 Top Dealer North America, and Scandinavian Avionics A/S as its 2015 Top Dealer International. www.uasc.com

THE BEST AIRCRAFT FOR SALE SEARCH

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February 2016 – AVBUYER MAGAZINE

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Marketplace Bombardier Learjet 45XR

Price:

$3,900,000 USD

Year:

2004

S/N:

45-239

Reg:

C-GJCY

TTAF:

3310

Location: Canada

Cessna Citation CJ3

Price:

Please call

Year:

2006

S/N:

525B-0118

TTAF:

2134.7

Location: Canada

Price:

$15,800,000 USD

Year:

2009

S/N:

5786

Reg:

C-FLMK

TTAF:

1365.4

Well-maintained 2006 Citation CJ3. Only 2134.7 total flight time on aircraft. Always professionally flown. This aircraft is equipped with Collins avionics, VIP seating, CAMP maintenance tracking, and much more. Avionics: Collins Pro Line 21 Integrated Autopilot/Flight Director/EFIS. Rockwell Collins Corporate Aircraft Service Program (CASP) coverage. Int: Interior condition 9/10. Ext: Matterhorn white with dual striping accents (silver and burgundy metallic) Exterior condition 9/10. Additional Features: Monorail sun visors. Bravo/Encore entry stairs (replaced CJ3 stairs)

Tel: +1 (403) 592-3715 E-mail: jetsales@skyservice.com Interior re-furbished in 2009, Interior carpet re-done in 2014, Exterior painted in 2014, 10 Passengers, VIP floor plan, 6 single seats in double-club arrangement, 3-place divan (4 seat belts), 3 executive tables, Crew jumpseat, Large full-service beverage and food galley, High-temp convection oven, Microwave, Food tray, Sink cover, Coffee maker, AFT lavatory with vanity (not belted), Dual DVD/CD/MP3 player, Magazine rack, Forward wardrobe curtain, Cockpit night curtain, Collins TRD-94D Mode S, Collins ADC-850E, Collins GPS-4000A Receiver, Collins NAV-4000 VHF Receiver, Collins VHF-4000 VHF Transceiver, Collins HF-9031A Transceiver, Collins DME-4000 Transceiver, Collins CDU-6200, Collins RDC-4002, Collins DBU5000, Collins LDU-4000, Collins TCAS (TCAS II) TTR-4000, Collins FMC6000, Collins FCC-4006, Reduced Vertical Separation Minima (RVSM) certified

Skyservices Jet Sales Price:

Please Call

Year:

1998

S/N:

50-264

Reg:

C-GWFK

TTAF:

5753.7

Location: Canada

Bombardier Challenger 300

Tel: +1 (403) 592-3715 E-mail: jetsales@skyservice.com

Skyservice Jet Sales

Location: Canada

Dassault Falcon 50EX

Well-maintained 2004 Learjet 45XR. 3244.4 total flight time on aircraft. Always professionally flown. This aircraft is equipped with Honeywell Primus avionics, Airshow, CAMP maintenance tracking, and much more. Engines: Honeywell TFE-731-20BR-1B. Additional Features: CAMP Enrolled Maintenance Tracking. Reduced Vertical Separation Minima (RVSM) Certified. ARTEX C406-2 Emergency Locator Transmitter (ELT). Iridium ICS-100 SATCOM System. Airshow 400 Network

Skyservice Jet Sales

Reg:

Bombardier Challenger 605

Tel: +1 (403) 592-3715 E-mail: jetsales@skyservice.com

Skyservice Jet Sales

Well-maintained, beautiful 1998 Falcon 50EX. 5753.7 total flight time on aircraft. Always professionally flown. This aircraft is equipped with Collins avionics, VIP seating, executive tables, full galley, entertainment center and much more. Engines: Make / Model: Honeywell TFE-731 (on MSP). APU: Model: Honeywell GTCP36-100A (on MSP). S/N P-383; 2518.0 Hours Since New (as of June 2015). Avionics: Avionics Package: Dual Collins EFIS-4000/Pro Line 4. Flight Director (FD): Dual Collins EFIS-4000 (4Tube). Auto-Pilot: Collins APS-4000

Smart Motion Aviation Price:

$12,750,000 USD

Year:

2009

S/N:

20250

Reg:

N999ND

TTAF:

1732.6

Location: USA- TX

Tel: +1 (403) 592-3715 Email: jetsales@skyservice.com

Tel: +1 (972) 971-1938 drichards@smartmotionaviation.com

AVAILABLE APRIL 2016! 2009 Challenger 300 SN 20250 Registration N999ND. May 2009 Completed Delivery. Currently maintained under Part 135. Smart Parts AND MSP Coverage.Premium Interior Package - 8 passenger cabin accommodation plus a 16G belted Lav seat -giving a 9 pax option. Configuration features a forward and aft 4 place club (recliner leg rests). Premium Interior Package. Equipped with the Rockwell Collins Pro Line 21 avionics suite

www.aircraftsales.com Advertising Enquiries see Page 4

www.AVBUYER.com

February 2016 â&#x20AC;&#x201C; AVBUYER MAGAZINE

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Marketplace Challenger 300

Capital Jet Group Price:

US $11,200,000

Year:

2008

S/N:

20202

Reg:

N360PA

TTAF:

3098

Tel: +1 (703) 917 9000 E-mail: sales@capitaljetgroup.com 2 U.S. corporate owners since new, MSP engines & APU, 2011 Bombardier paint. Over $1 Million in upgrades. ATG-5000 WI-FI, 2nd fileserver & FSU Maps, WAAS GPS/LPV FMS, LINKS 2000+, ADS-B out, Emergency Hydraulic Generator, Universal Weather, TCAS II Change 7.1, IMS 3500 Aircraft Information Manager, CVR/FDR, Dual HF w/Selcal, Dual AFIS, Iridium Satphone. 9 pax fireblocked double club interior

Location: USA

Citation Encore+

Capital Jet Group Price:

US $3,950,000

Year:

2007

S/N:

560-0758

Reg:

N83WA

TTAF:

2738

Tel: +1 (703) 917 9000 E-mail: sales@capitaljetgroup.com One U.S. owner since new, recent HSI, no damage history. Start with FADEC, Trailing Link Gear, great runway & cruise performance , great DOC’s, and single pilot capability. Add in WAAS/LPV, Mark VIII EGPWS, TCAS 4000 with Change 7, IFIS 5000 with 6.0 upgrade with XM WX, E-Charts, & Enhanced Map Overlays. Top it off with HID lighting, Stormscope, Aircell Iridium phone, & too many extras to mention. Maintained by a top Citation facility

Location: USA

Boeing 767 2DXER

Comlux Price:

Please call

Year:

2001

S/N:

32954

Reg:

P4-CLA

TTAF:

3689

Location: Switzerland

Airbus A319

Comlux Price:

Please call

Year:

2006

S/N:

2550

Reg:

G-NMAK

TTAF:

4441:19

Location: Switzerland

Piaggio P-180 Avanti II

David Fitzgerald Price:

US $1,875,000

Year:

2007

S/N:

1135

Reg:

N165SL

TTAF:

6317

Tel: +41 (0) 44 205 50 70 Email: severine.cosma@comlux.com Range of the aircraft is 6400 nm – 14 hours non-stop Complete maintenance records. Airframe: Total Time: 3689 hrs. Total Landings: 947 ldgs. Engines: Engine Model: CF680C2B6F (General Electric). Engine 1 S/N: 706393 TSN/CSN: 3689 hrs. / 947 cycles. Engine 2 S/N: 706394 TSN/CSN: 3689 hrs. / 947 cycles. APU: APU Status: APU Model: GTCP331-200ER (PN: 3800298-1). APU S/N: P2854 (TSN: 5071 hrs., 2806 cycles). Inspection: Maintenance tracking program: FAME. Complete maintenance records

Tel: +41 (0) 44 205 50 70 Email: severine.cosma@comlux.com Cabin certificated for 34 pax: Ideal for Head of State or Corporations. One owner since delivery. 4500 nm of range non-stop. Available for viewings in UK. Total Landings: 1372. Engines: Model: CFM 56-5B7. Engine 1 S/N: 577345 TSN/CSN: 4441:19 hrs. / 1372 cycl. Engine 2 S/N: 577346 TSN/CSN: 4441:19 hrs. / 1372 cycl. APU: Model: APIC APS3200. APU S/N: R2236 TSN/CSN: 4893:00 hrs. / 3169 cycl. ACJ319 is configured for Head of State or Corporation operations. It can accommodate up to 34 passengers (28 sleeping positions).

Tel: +1 (727) 366-4832 E-mail: david@exosaviation.com Engine Specs: Left Engine PCE--RK0218, Time Since New 6286, Time Since Major Overhaul 2309, Since HSI 310, Right Engine PCE--RK0217, Time Since New 6292, Time Since Major Overhaul 2303, Since HSI 305, Prop(s): Left Propeller KU94, Time Since Overhaul 2548, Next Due: January 2017, Right Propeller HF233, Time Since Overhaul 418, Next Due: February 2019, Avionics: Collins Pro Line 21, Interior: 8 Pax interior

Location: USA- MA

158

AVBUYER MAGAZINE – February 2016

www.AVBUYER.com

Aircraft Index see Page 161

P157-160.qxp 20/01/2016 09:56 Page 3

Marketplace Bombardier Learjet 36A

Leonard Hudson Drilling Price:

US $1,375,000

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

Location: USA

BELL 206L4

Leonard Hudson Drilling Price:

US $1,975,000

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

Cessna Citation X

Luxury Auto Collection Price:

US $6,300,000

Year:

2001

S/N:

750-0167

Reg:

N610RW

TTAF:

2,053

Location: USA

Advertising Enquiries see Page 4

www.AVBUYER.com

Tel: +1 (480) 448 9855 E-mail: John@lacscottsdale.com

Engine Cycles Since New: 1689, Engine: Rolls-Royce AE 3007/C/1C, Model: 750 Serial No.: 750-0167, Maintenance: Mesa Citation Service Center. Avionics:Honeywell Primus 2000 with 5-tube EFIS, Honeywell CD-810 FMS, Honeywell LASEREF IV Inertial Nav System, Honeywell GN-SUU GPS Receiver, Dual Honeywell HF with SELCAL, Honeywell RNZ-850 NavNOR, /LS, G/S, DME Honeywell RCZ-833e Integrated Com, Honeywell CD850 Clearance Delivery Unit Angle-of-Attach Indicator/Indexer, Honeywell Satellite Com System (Global), Honeywell TCAS 2000 RT-941, Honeywell EGPWS, Primus 880 Color Radar

February 2016 – AVBUYER MAGAZINE

159

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Marketplace Bombardier Learjet 35A

International Jet Markets Price:

US $850,000.00

Year:

1987

S/N:

626

Reg:

N21BK

TTAF:

10771.6

Tel: + 1 (850) 213 3218 Email: JETMARKETS@aol.com

12 Year/12000 hour/3000 Landing C/W May 2011* Engines enrolled on Honeywell MSP & Fully Funded, Dual Collins FIS 84 Flight Directors, Fire Blocked- Eight Passenger Mid Cabin Configuration with 3 place Aft Divan across from two aft facing seats Landings: 9562 Cycles

Location: USA

Gulfstream G650 Price:

$69,900,000 no VAT

Year:

2015

S/N:

6147

Reg:

N647AG

TTAF:

Delivery time only

Location: Germany

Nextant

Tel: +35 (0) 387 222 9343 E-mail: owen@jets.vg

Jets. Vg

Production Installed Extended Range (ER) ConfigurationEntering into service Dec 23rd 2015Savannah CompletionFully Transferrable Manufacturer’s WarrantiesEU VAT free importation completeCabin Layout: Fourteen (14) Passenger, Forward Galley with Forward Crew RestForward Cabin: Four (4) Club ChairsMid Cabin: Four (4) Place Conference Grouping Opposite a CredenzaAft Cabin: Two (2) Opposing Three Place DivansGalley: Forward, Full Service GalleyLavatories: Forward and Aft Vacuum Lavatories

+49 821-7003-100/-145 Email: sales@aas-augsburg.de

Augsburg Air Service Price: Year:

2013

S/N:

TBD

Reg:

TBD

TTAF:

950h

EASA-Reg, Pro Line 21 Avionics (4displays), GPS-4000S Upgrade, WAAS, TCAS II, ELT-406, 2x ATC XPDR/DME/AHRS, L3 COM FDR+CVR Aircell, LED lighting - very good condition!

Location: Germany

AvBuyer (USPS 014-911), February 2016, Vol 20, 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.

Advertiser’s Index 1st Source Banking..........................................................57 21st Century Jet Corporation......................................162 Abu Dhabi Air Expo .......................................................125 ABACE .............................................................................123 AeroSmith/Penny ...........................................................150 Air Charter Service...........................................................83 Aircraft Guaranty Corporation .......................................63 Albinati Aeronautics.......................................................142 AMAC ....................................................................................5 American Aircraft Sales...................................................89 Amstat...............................................................................127 Aradian Aviation.................................................................87 AvBuyer ............................................................................154 Avjet Corporation...................................................1, 15-17 Avpro...........................................................................10 - 14 Bell Aviation...............................................................48 - 49 Bombardier ........................................................................51 Boutsen Aviation.............................................................107 CAAP ................................................................................143 Central Business Jets....................................................163 Charlie Bravo .....................................................................79 Conklin & de Decker......................................................155

160

AVBUYER MAGAZINE – February 2016

Corporate AirSearch Int’l..............................................144 Corporate Concepts........................................................93 Dassault Falcon Jet .....................................................2 - 3 Duncan Aviation ................................................................91 Eagle Aviation ....................................................................73 EBACE 2016..................................................................113 Elliott Jets ..................................................................52 - 53 Flight Level Business ....................................................149 Freestream Aircraft USA ........................................32 - 35 General Aviation Services ............................................101 Global Jet Monaco .............................................130 - 135 Hagerty Jet Group ............................................................77 Hatt & Associates .............................................................29 Hawkeye Aircraft Acquisitions ....................................148 Heli UK Expo...................................................................156 Intellijet International.....................................................6 - 7 International Bureau of Aviation ..................................115 Jet Bed ................................................................................67 Jet Sense Aviation................................................136 -141 Jet Support Services (JSSI)...........................................59 JetBrokers ..................................................................46 - 47 Jetcraft Corporation.......................................42 - 43, 164

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Jeteffect...............................................................................85 JETNET ...............................................................................99 JetPro Texas.....................................................................147 Leading Edge ....................................................................39 Lufthansa Bombardier Aviation Services ....65, 69,119 Lektro ................................................................................155 Mente Group...................................................................146 Mesinger Jet Sales ..................................................25 - 27 NBAA................................................................................121 OGARAJETS ............................................................40 - 41 Par Avion.............................................................................69 Reed Aviation ..................................................................145 Rolls-Royce ........................................................................61 Singapore Airshow ........................................................111 Southern Cross ..............................................................109 Spartell .............................................................................129 Survival Products ...........................................................155 The Elite London.............................................................151 The Jet Business ......................................................20 - 23 Wright Brothers Aircraft Title.......................................105

Aircraft Index see Page 161

P161.qxp 21/01/2016 12:20 Page 1

Aircraft For Sale • AIRCRAFT • HELICOPTERS AIRCRAFT

PAGE

AIRBUS A319 . . . . . . . . . . 158,

AVIAT Husky A-1C . . . . 47,

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 17, 26, 27, 32, 42, 89, . . . . . . . . . . . . . . . 93, 164, 737-200 VIP . . . . 93, 737-800 . . . . . . . . 134, 135 757 -256 VIP . . . 16, 767-2DXER . . . . 158, DC-8-62 VIP . . . 93, Super B-727-VIP 93,

BOMBARDIER Global 5000 . . . . 10, 27, 43, 69, 85, . . . . . . . . . . . . . . . 93, 107, 164, Global 6000 . . . . 42, 43, 93, 133, 164, Global Express . 42, 43, 51, 93, 164, Global Express XRS. .7, 17, 23, 34, 39, . . . . . . . . . . . . . . . 42, 43, 51, 79, 164,

Challenger

300 . . . . . . . . . . . 12, 22, 26, 42, 43, . . . . . . . . . . . . . . . 46, 107, 131, 136, . . . . . . . . . . . . . . . 157, 158, 164, 600 . . . . . . . . . . . 40, 93, 601-1A . . . . . . . . 79, 601-3A . . . . . . . . 85, 601-3A/ER . . . . 85, 604 . . . . . . . . . . . 12, 35, 43, 85, 130, . . . . . . . . . . . . . . . 164, 605 . . . . . . . . . . . 22, 34, 39, 85, 109, . . . . . . . . . . . . . . . 157, 164, 850 . . . . . . . . . . . 42, 51,

Learjet

31A . . . . . . . . . . . 46, 109, 31ER . . . . . . . . . . 48, 35A . . . . . . . . . . . 46, 160, 36A . . . . . . . . . . . 159, 40 . . . . . . . . . . . . 46, 45 . . . . . . . . . . . . 12, 35, 46, 69, 85, . . . . . . . . . . . . . . . 89, 91, 101, 147, 45XR . . . . . . . . . . 12, 43, 51, 53, 85, . . . . . . . . . . . . . . . 101, 109, 157, 164, 55 . . . . . . . . . . . . 46, 60 . . . . . . . . . . . . 12, 79, 85, 91, 138, 60XR . . . . . . . . . . 43, 109, 139, 140, . . . . . . . . . . . . . . . 164,

CESSNA Citation

II . . . . . . . . . . . . . 47, V. . . . . . . . . . . . . . 79,

AIRCRAFT

PAGE

AIRCRAFT

X . . . . . . . . . . . . . 79, 85, 89, 109, 159, . . . . . . . . . . . . . . . 163, X Elite . . . . . . . . . 53, X+ . . . . . . . . . . . . 27, 145, XLS . . . . . . . . . . . 53, 79, 87, XLS+ . . . . . . . . . . 12, CJ1. . . . . . . . . . . . 73, CJ2. . . . . . . . . . . . . 26, 48, CJ3. . . . . . . . . . . . 73, 85, 157, Bravo . . . . . . . . . 46, 52, 53, Caravan 208B ..93, 147, Conquest I . . . . . 73, Conquest II . . . . 49, Excel . . . . . . . . . . 48, 87, 89, 93, 137, Encore . . . . . . . . 48, Encore + . . . . . . 46, 52, 158, Jet . . . . . . . . . . . . 47, 48, 107, M2 . . . . . . . . . . . . 73, Sovereign . . . . . . 43, 47, 87, 93, 164, SII . . . . . . . . . . . . 49, T206 . . . . . . . . . . 46, Mustang . . . . . . . 87, 91, 93, 180 . . . . . . . . . . . 46, 421C . . . . . . . . . . 73, 525 . . . . . . . . . . . 163,

DORNIER 328 JET. . . . . . . . 101, 328-300 . . . . . . . 101,

PAGE

Legacy 600 . . . . 22, 43, 46, 69, 164, Legacy 650 . . . . 22, 107, 148, Phenom 100 . . . 85, Phenom 300 . . . 48, 107,

FALCON JET 7X . . . . . . . . . . . . 3, 10, 11, 23, 26, 89, . . . . . . . . . . . . . . . 101, 107, 132, 162, . . . . . . . . . . . . . . . 163, 164, 10 . . . . . . . . . . . . 46, 50 . . . . . . . . . . . . 40, 162, 50EX . . . . . . . . . . 11, 109, 157, 200 . . . . . . . . . . . 107, 900 . . . . . . . . . . . 162, 900B . . . . . . . . . . 11, 27, 46, 162, 900C . . . . . . . . . . 162, 163, 900EX . . . . . . . . . 26, 34, 40, 69, 162, 900EX EASy . . . 11, 23, 39, 43, 162, . . . . . . . . . . . . . . . 163, 164, 900LX . . . . . . . . . 3, 11, 43, 162, 2000 . . . . . . . . . . 11, 101, 107, 109, 2000LX . . . . . . . . 3, 7, 11, 43, 69, 79, . . . . . . . . . . . . . . . 109, 2000S . . . . . . . . . 3,

PAGE

GULFSTREAM

ROCKWELL

IV . . . . . . . . . . . . . 69, 85, IVSP . . . . . . . . . . 10, 39, 40, 77, 85, . . . . . . . . . . . . . . . 91, 163, V. . . . . . . . . . . . . . 17, 20, 39, 107, 100 . . . . . . . . . . . 87, 163, 150 . . . . . . . . . . . 7, 77, 85, 87, 200 . . . . . . . . . . . 17, 26, 29, 40, 87, 280 . . . . . . . . . . . 26, 27, 143, 450 . . . . . . . . . . . 10, 20, 33, 43, 46, . . . . . . . . . . . . . . . 77, 85, 87, 164, 550 . . . . . . . . . . . 1, 7, 10, 15, 17, 20, . . . . . . . . . . . . . . . 26, 27, 32, 77, 85, 87, . . . . . . . . . . . . . . . 89, 107, 650 . . . . . . . . . . . 21, 33, 39, 93, 160, 650ER. . . . . . . . . 21, 109,

Turbo Commander 690B. . 47,

HAWKER BEECHCRAFT King Air

A100 . . . . . . . . . . 49, 200 . . . . . . . . . . . 46, 250 . . . . . . . . . . . 142, B200 . . . . . . . . . 53, 87, 107, 300 . . . . . . . . . . . 52, 350 . . . . . . . . . . . 13, 52, 87, 109, C90 . . . . . . . . . . . 87, C90A . . . . . . . . . . 107, C90B. . . . . . . . . . 149, F90-1 . . . . . . . . . 49,

Beechcraft

EMBRAER

AIRCRAFT

125-800A . . . . . . 150, Duke A60 . . . . . . 46, Premier IA . . . . . 141,

Hawker

400A . . . . . . . . . . 13, 79, 400XP . . . . . . . . . 17, 53, 87, 750 . . . . . . . . . . . 87, 800XP . . . . . . . . . 12, 29, 43, 46, 87, . . . . . . . . . . . . . . . 89, 107, 143, 146, 850XP. . . . . . . . . 87, 900XP . . . . . . . . . 39, 43, 87, 164, 4000 . . . . . . . . . . 29,

IAI Astra SPX. . . . . . 85,

SABRELINER 65 . . . . . . . . . . . . 46,

SOCATA TBM 700B . . . . . 47, TBM 700C2 . . . . 144,

HELICOPTERS

AGUSTAWESTLAND A109 ..........93, A109 Power . . . . 43, 164, A109 E Power . . 13, A119 KE . . . . . . . 107, AW139 . . . . . . . . 13, 93, Koala ..........87,

BELL 206L4 . . . . . . . . . 49, 159, 212 . . . . . . . . . . . 159, 412 EP . . . . . . . . 46, 412 EMS . . . . . . 159,

EUROCOPTER/AIRBUS AS350 B-2 . . . . . 14, AS332L1. . . . . . . 15, AS355-F-2 . . . . . 14, 93, AS355N . . . . . . . 107, AS365N3 . . . . . . 14, BK117. . . . . . . . . 46, BK117B1 . . . . . . 115, EC 130 B4 . . . . . 13, 107, EC 135 P2 . . . . . 35, EC 135 P2+ . . . . 87, EC 135 T1 CDS. 107, EC 135 T2i . . . . . 13, EC 145 . . . . . . . . 14, EC 155 B1 . . . . . 14,

MCDONNELL DOUGLAS

NEXTANT

MD900 . . . . . . . . 87,

Nextant. . . . . . . . 160,

PIAGGIO P-180 Avanti II..158,

SIKORSKY S-76C+ . . . . . . . . 14, 43, 164, S-76C++ . . . . . . 14, 35, 39,

PILATUS PC12 NG . . . . . . 26,

FOLLAND

PIPER

Gnatt . . . . . . . . . . 46,

Meridian . . . . . . . 49,

The best aircraft for sale search anywhere, everywhere - on pc, smartphone and tablet.

Advertising Enquiries see Page 4

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BUSINESS AVIATION INTELLIGENCE

February 2016 – AVBUYER MAGAZINE

161

21st Century October.qxp 22/09/2015 14:51 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

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 February.qxp_CBJ November06 19/01/2016 15:24 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

2013 Falcon 7X SN 213 Has Been Sold New Paint

Now Actively For Sale 2011 FALCON 7X SN 120 Less than 1000 Hours TT, ESP Gold, Single Owner with Long Standing Falcon History

2002 FALCON 900C SN 194 4300 TT, Recent 2C, 12 Year and Gear Overhaul, Brand New Paint, Refurbished Interior, MSP Gold, Equipped for European Operations

GIVSP SN 1453

GIVSP SN 1487

Single Midwestern US Owner, Only 4600 Hours TT, Aft Galley, 16 PAX, External view Camera

One of the last ever to be built, Averages less than 300 Hours per year, Rolls Royce Corporate Care, Gulfstream PlaneParts, MSP Gold, etcâ&#x20AC;Ś., Extremely Recent 12-Year Heavy Check

LIKE NEW CITATION X SN 207

1999 CITATION X SN N750GM

Over $1.8M just spent in Cockpit and refurbishment Upgrades, Rolls Royce Corporate Care, Cessna Cescom, Single Midwestern Fortune 500 Owner

Original Midwestern Fortune 500 owner, Rolls Royce Corporate Care, Cessna Cescom, No Damage History

2003 GULFSTREAM G100 SN 150

CITATION 525 SN 268

3600 Hours TT w/ Long Range Fuel Option, Engines have been upgraded to 6000 TBO, Dual Universal 1C+, Collins Proline IV Cockpit

2888 TT, Engines on Tap Elite Blue, Cescom Maintenance Tracking, 5 Passenger, New Paint and Interior in 2013

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

Making the complex simple for over 50 years.

2006 BOMBARDIER CHALLENGER 300 S/N 20105 • 2,855 Hours; 1,446 Cycles • 96 Month Inspection and Gear Overhaul Completed November 2014 • Both Engines & APU on MSP

A passionate team of aviation experts, our strategic approach and action-oriented thinking have made us the global leader for aircraft sales and ownership services. With our worldwide network and inventory, industry connections and regional presence, we are the difference between getting an aircraft… and getting your aircraft.

2015 BOMBARDIER CHALLENGER 605 S/N 5950 • Factory New with Completion and Delivery Time Only • Factory Training Provisions Included • Trade Opportunities Welcome

2002 BOEING BUSINESS JET S/N 30330

2008 DASSAULT FALCON 7X S/N 030 • Fully Programmed • EASy II Avionics Upgrade • Full EASy II CPDL Package, ADS-B Out & LPV Upgrades

• Recent Extensive Interior Refurbishments & Upgrades • Extensive Avionics Upgrades with FANS 1/A, TCAS 7.1 & ADS-B Out • Engines Enrolled on JSSI

2008 BOMBARDIER GLOBAL XRS S/N 9250

ALSO AVAI L ABLE

• 3,473 Hours; 849 Cycles • Bombardier Smart Parts; JSSI; Honeywell MSP • 14 Pax, Light Interior Refurbishment 2013

2013 BOMBARDIER GLOBAL 6000 S/N 9675 • Increase Maximum Take-Off Weight to 99,500 lbs • Operations at Airports with Maximum Weight Restrictions • EASA Certification Capable

I N FO @ JETC RAF T. CO M

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2010 AGUSTA A109 POWER 2007 CHALLENGER 300 1999 CHALLENGER 604 2012 GLOBAL 5000 2014 GLOBAL 6000 2003 GLOBAL EXPRESS 2010 GLOBAL XRS 2004 LEARJET 45XR 2008 LEARJET 60XR 2008 CITATION SOVEREIGN 2006 FALCON 900EX EASy 2010 EMBRAER LEGACY 600 2008 GULFSTREAM G450 2008 HAWKER 900XP 2009 SIKORSKY S-76C+

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