AvBuyer Magazine January 2016

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AVBUYER January 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 Aircraft Registration Services for Private & Commercial Operations.

Compliance. Safety. Service.

See pages 18 - 19 for further details

Aircraft Comparative Analysis – Gulfstream G550 Avionics Connectivity (New Series) Pre-Purchase Inspections www.AVBUYER.com

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Editor’s

Welcome

I

The Earth Moved

n mid-December, about two weeks prior to this issue of AvBuyer reaching its global readership, representatives from 195 countries met in Paris, France and agreed emphatically to lower greenhouse emissions to slow global warming. That unprecedented accord may be the most significant gamechanger since the Industrial Revolution! Its impact on Business Aviation should not be overlooked.

Aside from acknowledging that energy sources must transition from fossil fuels such as coal and oil to renewables such as solar, wind and possibly nuclear power generation, the Paris pronouncements represented a monumental change in world attitudes on the need to address climate change. All participating nations, including China and other emerging nations, accepted the real threat caused by rising average temperatures and the relationship between global warming and use of petroleum products.

The negotiators in Paris were particularly wise; well in advance of the conference they did their homework and developed positions supporting positive action. They also structured the deal around voluntary alignment that embraced measures designed to empower peer pressure, rather than legislative regulations from countries such as the USA where some in Congress oppose rulings that might impact the activities of favored constituents.

This climate deal is different—it prepares the way to monumental change.

Until some yet-to-be-designed means of nuclear or electric propulsion is devised, aviation will be dependent on oil. Furthermore, as companies expand commerce throughout the globe, the demand for air transportation will grow—including the need for corporations and entrepreneurs to develop new markets using Business Aviation. Finding a balance between facilitating aviation and responding to widespread cries to cut the use of petroleum will be challenging. Acceptance of Business Aviation as a necessary form of transportation will be impacted by public perception and misunderstanding about the value of

business aircraft. In addition to hearing calls for less use of fossil fuels, our community will be pressured by policy-makers who would like to restructure the air traffic control system, (especially in the USA) in ways that appear to favor Scheduled Airlines while discounting (if not ignoring) the role of Business Aviation. The need to communicate the value of Business Aviation has never been greater.

Today’s aircraft, airliners as well as business jets, are efficient users of fuel. Aviation in all its forms is essential for global and domestic commerce. Spread the word—Business Aviation is an enabling technology for economic expansion and constructive growth.

In This Issue

AvBuyer launches the New Year with its comprehensive coverage of Need-to-Know Intelligence for active participants in the Business Aviation community. Our authors address key market indicators that surfaced during the waning months of 2015 and offer their insights going forward, and Jay Mesinger looks at the near future from the perspective of the Great Recession.

Considering recent news, Stuart Hope’s Boardroom primer on Terrorism Risk Insurance is particularly relevant.

For Flight Department Managers, Ken Elliott’s examination of aircraft connectivity and how best to capitalize on the rapidly-changing technology of ‘Connected Aircraft’ provides insights that shape expectation for the ‘Office that Moves’. And the January issue of AvBuyer continues its coverage of operator case studies, while Mario Pierobon reviews ground handling safety and Robert Drover outlines the Pre-Purchase Inspection process.

Bjorn Naberhuis examines the activities of European BizAv within our Community section that contains a variety of other industry news and updates.

Jack Olcott Editorial Director & Publisher AvBuyer Your source for Business Aviation Intelligence

The Team at AvBuyer wishes you all a Peaceful & Prosperous New Year!

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AVBUYER MAGAZINE – January 2016

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 145

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Editorial Focus 40

Flight in the Slow Lane:

What is the state of play for used aircraft

sales as we enter 2016? What are the good

and the bad spots? Dave Higdon summarizes.

54

Living the Dream: Building communities with the aid of

BizAv, Roberts Resorts & Communities

has enjoyed a successful expansion -

thanks to its PC-12.

76 Pre-Purchase Inspections: How can you anticipate and navigate

the complex process of the pre-purchase inspection successfully? Find out here...

100

Comparative Analysis – Gulfstream G550 How does Gulfstream’s G550 square up against Dassault’s

Falcon 7X? Read on…

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AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

Aircraft Index see Page 145

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January2016

Contents

Volume 20, Issue 1

❚ BizAv Intelligence

24

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

46

Used Aircraft Sales Trends: Vref’s Fletcher Aldredge discusses adjusting to a ‘darnnear’ mutated marketplace moving into 2016

48

An Industry Perspective of 2016: What lies ahead for the used business aircraft market in 2016? Jay Mesinger offers some thoughts…

❚ Boardroom 56

Flight Department Management: Goals must be set for all business units. What are the KPIs to establish for your company’s flight department?

60

Right-Sizing: It seems to be taking hold in many sectors including aviation, but what is the right reason for right-sizing, and what are mere knee-jerk reactions?

64

66

Planning for Section 179 Uncertainties: What will happen to equipment expenses and deductions for 2015? Attorney Chris Younger reviews…

BizAv and TRIA: Business aircraft owners face a dilemma when it comes to insurance against terrorism. Is TRIA a good bet to purchase? Stuart Hope considers…

Advertising Enquiries see Page 4

❚ Flight Department

70

Avionics Connectivity (Part 1): An introduction and overview – Ken Elliott’s series unpacks the technology, integration and advances in aircraft connectivity

80

Creating a Flight Department (Part 8): Today, security planning within BizAv is more important than ever… but where do you start?

82

Aviation Safety from the Ground Up: Mario Pierobon highlights how operators can assess third-party groundhandling services

84

Retail Price Guide: 20-year Large Cabin & Ultra-LongRange Jets price guide from The Aircraft Bluebook

88

Specifications: Large Cabin & Ultra-Long-Range Jets performance and specifications comparisons

❚ Community 108 BizAv Review: European Flying Global Jet interview, SSBJ, HondaJet, OEM Bites, Arrivals & Events

Next Month -

Aircraft Comparative Analysis Business Aircraft Finance Update

BUSINESS AVIATION INTELLIGENCE

www.AVBUYER.com

January 2016 – AVBUYER MAGAZINE

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We Know the Way When you’re buying or selling a plane, the path to a successful transaction can seem daunting. But with a smart, agile team, what can seem like a complex maze will feel like a walk in the park.

MESINGER JET SALES BROKERAGE & ACQUISITIONS

+1 303-444-6766

JETSALES.COM

MESINGER MARKETPLACE FOR SALE: NEW TO MARKET

FOR SALE: MAJOR PRICE REDUCTION

Read our industry blog at jetsales.com/blog Follow us on twitter @jmesinger Watch videos at jetsales.com/inventory

FOR SALE: NEW TO MARKET

2013 Gulfstream G280

2007 Global 5000

1999 Boeing BBJ

Brokerage & Acquisitions

Serial Number: 29865 Hours: 11,415 TTAF

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

Serial Number: 9158 Hours: 1,821 TTAF

Now Asking: $16,250,000 Landings: 725

Serial Number: 2027 Hours: 1,358 TTAF

Asking Price: Make Offer Landings: 896

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

• • • •

• Batch 3 Software Upgrade w/ FANS 1/A+ CPDLC and SBAS w/LPV Approach capability • Triple FMS • HUD & EVS

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

• 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

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

FOR SALE: PRICE REDUCED

FOR SALE: PRICE REDUCED

FOR SALE

1994 Falcon 900B

2014 Citation X+

1998 Boeing BBJ

Serial Number: 513 Hours: 137 TTAF

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

Serial Number: 134 Hours: 5,071 TTAF

Now Asking: $6,290,000 Landings: 2,426

Serial Number: 29024 Hours: 3,326 TTAF

Asking Price: $28,500,000 Landings: 1,308

• 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

• One U.S. Owner Since New • Garrett/Jet Center Completion • 7 Auxiliary Fuel Tanks • Empty Weight: 95,112 lbs • 12 certifi ed passenger seats/ sleeps 8

• Three zone Raytheon heating/Air Conditioning • Exo-grid isolated headliner • C1 Check completed April 2015 • Operated Part 91

FOR SALE

FOR SALE

2002 Citation CJ2

FOR SALE

2000 Falcon 900EX

2008 Gulfstream G550

Serial Number: 134 Hours: 2,134 TTAF

Asking Price: $2,895,000 Landings: 1,747

Serial Number: 74 Hours: 5,743 TTAF

Asking Price: $10,950,000 Landings: 2,226

Serial Number: 5180 Hours: 3,860 TTAF

Asking Price: $29,995,000 Landings: 1,412

• Engines Enrolled On Williams TAP Advantage Blue • Two Operational Owners • Part 91 Professionally Maintained & Operated • WAAS/LPV Capable UNS-1Lw FMS

• Three (3) Rockwell Collins Adaptive Flight Displays • Garmin GNS 530 & GNS 430 • SkyWatch HP TCAS I • Garmin GDL 69 SiriusXM Satellite Weather

• Engines enrolled on JSSI Premium Plus • APU enrolled on JSSI • Excellent Pedigree

• Wing Tank Modifi cation • TCAS 7.1 • Gogo Biz Broadband Internet

• Engines enrolled on Rolls Royce Corporate Care • APU enrolled on Honeywell MSP Gold • Enhanced Navigation • TCAS 7.1, ADS-B Out, FANS 1/A, CPDLC Capabilities

• • • •

ADS-B Out version 2 88 Parameter FDR BBML high speed internet Aft Galley with Fwd Crew Rest

FOR SALE

FOR SALE

FOR SALE

2011 Gulfstream G550

2015 Gulfstream G280

2002 Gulfstream G200

Serial Number: 5316 Hours: 2,710 TTAF

Asking Price: $34,995,000 Landings: 834

Serial Number: 2079 Hours: 36 TTAF

Serial Number: 58 Hours: 3,661 TTAF

Asking Price: $5,250,000 Landings: 1,892

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

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

• 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

• 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

FOR SALE

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

UNDER CONTRACT

2010 Pilatus PC-12 NG (47E)

1997 Falcon 50EX

Serial Number: 1240 Hours: 1,371 TTAF

Asking Price: $3,625,000 Landings: 943

Serial Number: 260 Hours: 4,747 TTAF

• Now based in Opa Locka, FL with Fresh Annual Inspection • RVSM Capable, Coupled VNAV, and GPS WAAS/ LPV Functionality • Avionics Premium Package

• Build 8.8 Apex Operational Software (SB 46-012) • Connected Flight Deck with Wireless Fast Load Option • Satellite Graphical Weather (XM Weather)

• Engines enrolled on Honeywell MSP Gold • APU enrolled on MSP • One Owner Since New • Very low total time to cycle ratio

SOLD: DECEMBER 2015

DEAL PENDING

2011 Gulfstream G200 Serial Number: 245 Hours: 862 TTAF

Landings: 1,903 • Complied with the 3C check and Wing Tank Modifi cation (SB 496R2) in May, 2015

SOLD: NOVEMBER 2015

• Engines Enrolled on Pratt & Whitney ESP Gold • APU Enrolled on Honeywell MSP Gold • Dual HF • 88 Parameter FDR • RAAS

Landings: 508 • Dual Enhanced Mode S Transponders • Thrane & Thrane Aero SB Lite Swift Broadband high speed internet • 10 passenger configuration

ACQUIRED: NOVEMBER 2015

FILE PHOTO

2009 Challenger 605

2001 Gulfstream V

SOLD: OCTOBER 2015

Falcon 2000EX EASy

SOLD: OCTOBER 2015

ACQUIRED: OCTOBER 2015

FILE PHOTO

1998 Lear 45

2014 Gulfstream G650

WANTED AIRCRAFT WANTED

Challenger 300

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

WANTED

WANTED

FILE PHOTO

Falcon 2000LX

FILE PHOTO

Falcon 2000EX EASy

Mesinger Jet Sales

FILE PHOTO

Challenger 300

+1 303 444 6766

Fax: + 1 303 444 6866

jetsales.com

SanMarino January.qxp_Finance 16/12/2015 12:32 Page 1

The Republic of San Marino Via Consiglio dei Sessanta, 99 47891 Dogana, Repubblica di San Marino Tel: +378 (0549) 941539 General Inquiries please reach us at: info@smar.aero, www.smar.aero The Republic of San Marino is an enclaved sovereign microstate located in the north-eastern part of the Italian peninsula. The Aircraft Registry is governed by the Civil Aviation Authority (CAA), which is a Signatory to the Chicago Convention since 1988, complying with international standards in providing safety oversight of its registered aircraft with prefix ‘T7’.

In December 2012, the CAA launched its Aircraft Registry to foreign aircraft owners operating private, corporate jets and turbine helicopters. Twelve months after operating, the Registry opened its door to commercial air transportation following the high demand of airlines and business jet charter operators. An organisation or enterprise that wishes to operate an aircraft for the purpose of Commercial Air Transport must obtain an Air Operator Certificate (AOC) from the CAA and have their principal place of business in San Marino where the principal financial functions and operational control of the activities are exercised. Subsequently, the CAA has certified and granted two (2) Air Operator Certificates, first to ACASS Europe Srl and secondly, to Empire Aviation San Marino Srl. Alternately, such organisations or enterprises can choose to operate commercially under a foreign AOC utilising an ICAO Article 83bis agreement. Today, the CAA has signed an ICAO Article 83bis agreement with the Republic of Lebanon, Republic of Nigeria and Kingdom of Saudi Arabia.

People tend to ask themselves how the Registry has been able to obtain a successful position in a competitive market in such a short period of time becoming a leading jurisdiction for aircraft owners, lessors and operators. Basically it is the professionalism and work ethic of the CAA with the assistance of very dedicated and experienced Registry personnel.

The CAA consists of a group of professionals and experienced regulators, aviation consultants, registration and licensing officers that focus on the regulatory and safety requirements, who work hand in hand with a Registry that understands the different needs that aircraft owners, operators or lessors expect.

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AVBUYER MAGAZINE – January 2016

The CAA and its Registry is becoming recognized for it’s pragmatic and efficient approach in civil aviation services, customized solutions, compliance and safety. The Registry provides assistance to aircraft owners, lessors and operators for the minimization of tax, reduction in bureaucratic red tape as well as providing a more efficient, responsive and friendly customer service. They specialize in VVIP Aircraft registration services, providing a neutral and low profile registration mark and political stability. The San Marino CAA is a signatory to the Cape Town Convention that protects your assets, rights and interests. The Cape Town Convention is intended to give parties involved in such transactions greater confidence and predictability, principally through the establishment of a uniform set of rules guiding the constitution, protection, prioritization, and enforcement of certain rights in aircraft and aircraft engines. The Registry offers it all and more, as they embrace innovation.

Tax efficiency is an important driver in the decisions of owners and operators when considering where to register their aircraft. All aircraft registered in San Marino shall be exempted from the payment of a single-stage import tax provided the foreign citizen or company owns the aircraft. Moreover, the Registry continues to remain a tax-efficient aircraft Registry by offering Corporate Jet aircraft owners a freedom to choose a jurisdiction of choice when structuring ownership and operation without the need to incorporate a new San Marino company. A streamlined and innovative legal framework was therefore created to allow foreign individuals and companies of another State to qualify for registration and maintain the registration of their own aircraft in the Registry once they have elected a representative residing in the Republic of San Marino. The representative will act as an address for service with the only responsibility to transmit to the owner any relevant official transmission of notices and notifications from the CAA. The legal framework allows a smoother and speed transition to T7 registration, offers more cost effective fees, and contributes greatly in creating a streamlined and very simple straightforward registration process that can be accomplished in 1

www.AVBUYER.com

Aircraft Index see Page 145

SanMarino January.qxp_Finance 16/12/2015 12:32 Page 2

to 3 business days following the airworthiness inspection of the aircraft, a review of its records and the completion of any action if required.

The CAA is more flexible in its approach to internationally recognized standards and a Type Certificate (TC) and the associated Type Certificate Data Sheets (TCDS) issued by the Federal Aviation Administration (FAA) of the United States, Transport Canada, or the European Aviation Safety Agency (EASA) would be acceptable to the CAA. In the matter of STCs embodied on an aircraft, the CAA will accept without further review any STC that has been previously approved by the above National Aviation Authorities when the CAA first issues the aircraft with a Certificate of Airworthiness (CofA).

In recognition of those States (e.g. EASA, UAE GCAA) that have demonstrated the highest regulatory standards, the Registry will permit Private/Corporate aircraft owners/operators that establish a suitable contract with an appropriately approved continuing airworthiness management organization, to apply for a CofA validity for a period of twenty-four (24) months. A person acceptable to the CAA, known as the Airworthiness Coordinator, must be appointed to ensure that appropriate arrangements for continued airworthiness management are in place. In anticipation to the new EASA NCC requirements, this feature will be of great advantage to those operators with an aircraft that is registered in a non-EASA State but where the operator is established or residing in an EASA State.

Our corporate objectives are to meet and surpass your expectations and to ensure your complete satisfaction in the process to get your T7 registered aircraft flying. An added value to the Registry is the CAA’s utilization of designated and highly experienced flight operation inspectors and airworthiness inspectors. The CAA has inspectors to cover North and South America, Africa, Europe, Middle East, Asia and Australia.

aircraft location to carry out the required inspection for the issuance or renewal of a Certificate of Airworthiness, approval of a Maintenance organization or to perform flight operation inspections as part of the Air Operator Certification process and oversight for commercial air transportation.

Moreover, the CAA recognises appropriately approved maintenance organisations by EASA, UAE GCAA and Singapore CAAS as meeting the equivalent standards of CAR 145 regulations within the scope of work as stated in their approval. These organisations can perform maintenance on T7 registered aircraft without requiring a formal approval, allowing aircraft owners and operators to select from a greater selection of maintenance organisations mostly convenient located.

Following an ICAO Universal Safety Oversight Audit Programme (USOAP) Continuous Monitoring Approach (CMA) audit of the San Marino CAA carried out from 29 June to 6th July 2015, the CAA is proud to inform that the Effective Implementation (EI) by area for the eight Critical Elements positions the CAA achieved an above global average as one of the Top 20 compliant CAAs. ICAO representatives stated “The professionalism and enthusiasm of all personnel who interacted with the audit team contributed greatly to the success of the audit mission.” An owner, operator or lessor can be confident that the regulations, documentation and processes comply with the highest international standards.

The Registry continues to be more innovative, competitive, and focused to offer our clients the highest level of service and support for your operation from day one.

The CAA has the flexibility to allocate the most convenient located inspector to travel to your

Advertising Enquiries see Page 4

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January 2016 – AVBUYER MAGAZINE

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Freestream January.qxp 17/12/2015 10:36 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 • 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 • Available for viewing in Bridgeport, Connecticut

2009 Gulfstream G550 S/N: 5231

• Registration: Currently undergoing FAA • $32,950,000 • 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 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 January.qxp 17/12/2015 10:36 Page 2

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 January.qxp 17/12/2015 10:36 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 January.qxp 17/12/2015 10:36 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: 6589 hours. Landings: 5271 • 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

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BIZAV INTELLIGENCE ❚ MARKET INDICATORS

What Lays Ahead for BizAv in 2016?

A Medley of Industry Trends, Analyses, Reports and Data With 2015 now closed and the New Year upon us, Rolland Vincent,

Editor, Market Indicators, takes stock of the Business Aviation markets as the industry readies itself for what looks to be a fairly flat year to come…

R 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

24

ecently released forecasts of new business jet deliveries from Honeywell, Embraer and JETNET iQ point to a relatively slow growth period in the next year, as several new models begin to ramp up in production – most notably, the Citation Latitude, Legacy 450/500, and the just-certified HondaJet. Meanwhile older models enter a more mature stage of their production lifecycles.

We note a discernible shift in the mix of models under consideration by buyers – away somewhat from the large cabin, ultra-long range jet segment and more focused on super-mid-size aircraft, including the Challenger 350, Gulfstream G280, Latitude and Legacy models.

Pre-owned inventory levels appear to be on the rise once again, led by the large cabin segment, in what is no doubt a reaction to the slowdown in emerging market demand. Like migratory birds that return home, many business jets produced, completed, and exported from the US in the past

AVBUYER MAGAZINE – January 2016

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5-10 years are coming on-shore in search of a more welcoming market environment – and new owners.

Well-maintained, low-time large cabin aircraft with good pedigrees are compelling alternatives to a new aircraft purchase, and are certainly competing with new production aircraft for the attention (and wallets) of buyers. With inventory levels up significantly in some cases on a year-overyear basis – for example, Falcon 7X pre-owned inventory for sale has doubled since late 2014 to about 20 units – well-informed buyers know that they have a plethora of choice to consider. Some, of course, are eagerly awaiting new offerings such as the Falcon 8X, which is expected to certify and enter in to service in 2016.

Soft Prices, Buyer’s Market

Throughout 2015, transaction prices for new and pre-owned turbine business aircraft remained soft, classic evidence of an oversupplied ‘buyer’s market’. With average annual utilization rates well Aircraft Index see Page 145

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CHART A: JETNET iQ Q3 2015 GLOBAL BUSINESS AVIATION SURVEY Inhibitors to Aircraft Purchase over the Next 12 Months

below their pre-2008 levels, we estimate that the equivalent of more than 25% of the US business jet fleet is effectively idled even as the fleet grows.

According to JETNET iQ surveys in 2015, this overcapacity is the primary factor dissuading owners and operators from purchasing another aircraft.

Additional factors contributing to a sluggish sales environment include owner/operator uncertainty regarding regulatory and economic developments, particularly in the 2016 US Presidential election year.

Owners and operators are clearly having difficulty selling their aircraft at prices they find acceptable.

About 25% of those most recently polled indicate that they have delayed a purchase of a new or preowned aircraft in the past 24 months because they were concerned about residual values.

Recent research conducted by JETNET iQ suggests that 70% of business aircraft owners and operators prefer to finance their aircraft acquisitions, in stark contrast to what some believe is a ‘Cash is King’ marketplace. In contrast to ‘too-easy-money’ in the pre-2009 era, credit markets have necessarily tightened at the same time as residual values have slid.

Public Perception…

Less discussed but naggingly ever-present, the image of Business Aviation within the general public is another factor that is discouraging the use and

purchase of business aircraft (see Chart B). The Q3 2015 JETNET iQ Survey found that almost half of respondents sampled felt that public opinion was adversely affecting how often their aircraft were being flown.

Similarly, about 40% of owner/operators in the Q3 2015 survey felt that public image issues surrounding Business Aviation were adversely impacting their aircraft purchase decisions. Although we do not have survey data for other time periods to compare against these results, it appears that industry advocacy efforts such as NBAA/GAMA’s ‘No Plane, No Gain’ need to be bolstered to help stem the tide of reduced flying and lower sales.

The Bottom Line?

In 2016, we expect transaction prices to remain soft, both for new and pre-owned aircraft sales, although the long-expected increase in interest rates should provide some firmness. The oversupply of aircraft in the market will continue, as we forecast 725-750 new business jet deliveries in 2016, and pre-owned inventory levels to increase at a modest rate.

Business aircraft utilization rates should continue to rise modestly (measured in the low single-digit percentages) on a year-over-year basis, led by higher activity in the US (home to 57% of the fixed-wing turbine fleet). !

MI www.rollandvincent.com

“In 2016, we expect transaction prices to remain soft, both for new and pre-owned aircraft sales...”

CHART B: Business Aviation’s Image is Impacting Operations & Sales Q3 2015 JETNET iQ Survey

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BIZAV INTELLIGENCE ❚ MARKET INDICATORS

US Ageing Mid- to Large Aircraft Fleet Global Jet Capital research indicates that 28% of the Midto Large private jets in the US are over 20 years old, and 15% are more than 30 years old. The average age of a business jet in the country is 16 years…

As the US economy continues to improve, more private jet owners will be considering upgrading their aircraft, predicts Global Jet Capital. Mid- to Large private jets typically cost between $25m-75m each, and up to 80% of the funding used to purchase these is sourced through external financing.

The research also reveals that of the ten States with the largest fleets of Mid- to Large private jets, Michigan has the highest average age of 22 years, followed by Florida (20 years) and Texas (18 years) – see Table A. Table A - Top US Mid- to Large Jet Fleets/Average Age

Shawn Vick, Executive Director of Global Jet Capital notes, “A significant proportion of the private jet fleet in the US is old, and as the economy improves we expect more owners to consider upgrading to newer aircraft. With around $1 billion to lend, we’re well positioned to capitalize on this.”

Delivery Values

2,731 Mid- to Large private jets were delivered to US owners/operators between 2005-2014, notes Global Jet Capital. These had a combined value estimated at over $136.5bn.

Table B shows that the largest number of deliveries was to Texas (303) accounting for just over one in ten (11%) of all Mid-sized to Large jet deliveries to the US market over the past decade. This was followed by California (215), Florida (194) and Illinois (114).

For Sale Numbers

There are around 821 Mid- to Large private jets ‘For Sale’ in the US, notes Global Jet Capital, with an estimated combined value of $5bn. Within this segment, 164 aircraft are registered in Florida, while 128 are listed ‘For Sale’ in Texas, and 87 in California (see Table C).

With 7,526 Mid- to Large sized private jets in the US, approximately 11% of the fleet is currently on the market ‘For Sale’. The global average is currently 10%. “The US represents around 52% of the global fleet of Mid- to Large sized business jets,” Vick summarizes. “The US is the most developed and stable private jet market in the world, and with a growing economy and expanding population of UHNWIs, it is well positioned for long-term growth”.

!

MI www.globaljetcapital.com

Table B - Top US States by Deliveries of Mid- to Large Jets, 2005 - 2014

26

AVBUYER MAGAZINE – January 2016

Table C - Top US States for Number of Mid- to Large Jets “For Sale”

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Aircraft Index see Page 145

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BIZAV INTELLIGENCE ❚ MARKET INDICATORS

BizAv Activity - US & Canada Business jet flying pushed October’s highest activity levels since 2007, notes ARGUS. Business Aviation flight activity in October 2015 finished up 4.8% over September 2015.

Results by operational category were positive across the board, with Part 135 operators recording the largest monthover-month increase, up 5.2%. The Part 91 market recorded a monthly rise of at least 3.0% in every aircraft category to finish the month up 4.6%, while the Fractional market saw an increase of 4.4%.

Looking at the aircraft categories, the mid-size cabin market posted the biggest increase from September, up 7.5%, while large cabin aircraft posted a gain of 6.0%.

The turboprop and small cabin markets posted increases of 2.8% and 3.8% respectively. The largest monthly gain occurred in the Part 135 mid-size cabin segment, up 9.2% from September.

Year over Year

Reviewing YoY flight activity (October 2015 vs. October 2014), TRAQPak data

indicate that October 2015 posted an increase of 0.2%; this missed TRAQPak’s forecasted yearly rise of 2.7%. The results by operational category continue to show growth on top of growth in the Part 135 industry, with a YoY increase of 3.2%. The Part 91 market recorded a slight decline from 2014, down -0.4%, while the Fractional market continued its run in the red for the third consecutive month, down -5.1%.

Flight activity by aircraft category was positive at the top and bottom of the industry, with the turboprop market posting its eighth consecutive YoY increase to lead the way, up 2.2%. Large cabin aircraft posted another yearly increase in flight activity, up 1.2%. Small and mid-size cabin aircraft posted yearly flight activity drops of 1.0% and 1.5% respectively. The largest YoY gain for an individual segment occurred in the Part 135 turboprop segment, which saw an increase of 8.8%.

MI www.argus.aero

BizAv Activity - Europe

There were 56,200 Business Aviation departures in Europe in November 2015, a -2.5% decline YoY, notes WingX. With one month of the year to go, 2015 activity is down -0.8% on 2014 (equivalent to 5,700 fewer flights).

Russia saw the largest decline this month, with 442 fewer flights, 30% less activity YoY. So far in 2015, flights from Russia into Europe have declined -23%. Flights from Europe to the CIS region have fallen -27% during 2015.

Europe’s four busiest markets— France, Germany, UK and Italy—were down in November, while activity in Switzerland was slightly up and flights from Spain picked up 8%. YTD activity is still up in four of the top six countries in Europe.

A substantial fall in flight activity in Italy during November was mainly in AOC flights. AOC activity was up slightly in France, UK, Switzerland, well up in Spain, and grew more than 20% in Belgium, Netherlands, Poland and Sweden.

Private flights fell the most for November, down -4% overall and -7% for business jets. There was a slight decline in private activity in all top-five markets; double digit declines in Sweden, Netherlands and Turkey, and -30% fall in private flights from Russia.

Turboprop activity was up this month, due to a 4% increase in Turboprop charter flights. In Germany, Switzerland and Austria, Turboprop flights were up between 7-12%. Piston activity fell -1%, but Piston AOC sectors were up by 1.4%.

MI www.wingx-advance.com !

continued on page 32

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AVBUYER MAGAZINE – January 2016

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BUSINESS AVIATION INTELLIGENCE

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BIZAV INTELLIGENCE ❚ MARKET INDICATORS

Q3 BizAv Transaction Analysis According to AMSTAT, Business Jets Resale Retail Transactions were flat in Q3 versus Q2 2015 with 2.5% of the active fleet turning over, down from 2.7% a year ago.

The Q3 activity was below the 20-Year Quarterly Average and the year-to-date (YTD) performance through Q3 was the lowest of the last three years, with only 7.2% turnover versus 7.8% in 2014 and 7.3% in 2013.

At a Segment level, the Medium Jet market performed the best with 3.0% of the fleet turning over in Q3 versus 2.7% in Q2 and 2.8% in Q3 2014. Activity was above the 20-year Quarterly Average for the segment and YTD performance through Q3 was the best of the last five years with 8.27% turnover, versus 8.26% in 2014 and 6.8% in 2013.

By contrast the Heavy Jet segment saw Resale Retail Transaction activity down both QoQ and YoY. Just 1.8% of the Heavy Jet fleet turned over in Q3 2015, below the 20-year Quarterly Average for the segment. The YTD performance was the lowest of the last 5 years, with only 5.4% turnover versus 6% in 2014 and 5.8% in 2013.

The Light Jet segment saw Resale Retail Transactions flat both QoQ and YoY. Within this fleet, 2.6% of transactions occurred in Q3, below the 20-year Quarterly Average. The Q1 through Q3 performance was also down at 7.7% versus 8.6% and 8.8% in 2014 and 2013 respectively.

Transaction activity in the resale market for Turboprops was up in Q3 to 2.0% from 1.8% in Q2 2015. As with Heavy and Light Jets, performance was below the 20-year Quarterly Average for this segment and the Q1 through Q3 performance was the lowest of the last five years, with only 5.6% turnover versus 6% in 2014 and 6.9% in 2013.

Inventory Levels Trend Up

In general, business jet and turboprop

inventories have been trending upwards.

By the end of Q3 2015, the inventory of Business Jets for sale as a percentage of active fleet was up QoQ to 11.3% from 10.8% but was flat year-on-year. This percentage remains below the 20-year Quarterly Average of 12.6%, but the trend has been moving upwards since early 2014.

Heavy Jet inventories in Q3 2015 were flat QoQ but up YoY to 10.4% from 10.1%. Medium Jet inventories were also up QoQ in Q3 and YoY to 11.4% from 11.2%. Light Jet inventories were also up QoQ, but flat YoY. Turboprop Inventories were up in Q3, meanwhile, to 8.7% from 8.4% in Q2 2015 and YoY from 7.9%. These levels remain below this segment’s 20-year Quarterly Average. Turboprop inventories have been slowly increasing since early 2015.

Ask Price Trends

Asking prices remain a mixed bag. Heavy Jet Average Asking Prices have been trending upwards since mid-2011, though perhaps reflecting recent transaction softness and an increased inventory since around the start of 2015 the trend has reversed - down QoQ by -2.4% and YoY by -1.3%.

Medium Jet Average Asking Prices peaked around the start of 2015 and then contracted through the summer.

They were up marginally by 0.4% in Q3 over Q2 2015 and by 0.3% YoY. Light Jet Average Asking Prices have been trending upwards since the start of 2015.

They were up by 7.8% in Q3 over Q2 2015, and by 5% YoY – a trend at odds with weaker transaction activity and increased Light Jet inventory.

Turboprop Average Asking Prices have been trending downwards since mid-2013, and were down by -0.3% in Q3 from Q2 2015 and by -3.3% YoY. MI www.amstat.aero

In-Service Aircraft Maintenance Condition & Price An Asset Insight Index analysis conducted on November 30, covering 91 fixed-wing models and 1,921 aircraft listed for sale revealed an ‘Excellent’ overall Asset Insight Quality Rating (see ‘All Turbines’ Table, opposite).

Asset Insight Quality Rating (AIQ Rating): The Asset Insight Quality Rating (computed by averaging surveyed aircraft Maintenance and Financial Ratings) was virtually unchanged over the past 30 days at 5.283, compared to last month’s 5.284, on the AIQ Rating scale of -2.5 to 10.

Maintenance Exposure (ATFE Value):

Asset Technical Financial Exposure Value (an aircraft’s accumulated maintenance financial exposure) worsened 0.9% in October, increasing by $12k to $1.414m.

By aircraft group, asset quality was as follows: • Large Jets: ‘Excellent’ asset quality – yet again the best among the four groups – but slightly lower than last month’s figure; Maintenance Exposure increased/worsened by $57k but, at approximately $3.1m, still posted the group’s second best figure for the past 12 months.

• Medium Jets: ‘Excellent’ asset quality, virtually unchanged for the past three months and, once again, registering the second highest rating among the four groups at 5.304; Maintenance Exposure has remained near the group’s 12 month low for the past four months, currently registering $0.764m.

• Small Jets: ‘Excellent’ asset quality, and a 1.5 AI2 basis point improvement over October’s figure; Maintenance Exposure decreased/improved a minimal amount to $762k, remaining better than the group’s 12-month $902k average.

• Turboprops: ‘Very Good’ asset quality, with the group posting a 3.3 AI2 basis point increase this month; Maintenance Exposure decreased for the third month in a row to register a $16k improvement and a 12-month low figure of $556k.

Maintenance ETP Ratio

Spread in the ETP Ratio (the aircraft’s Maintenance Exposure divided by its Ask 32

AVBUYER MAGAZINE – January 2016

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ALL TURBINES Price) for the aircraft tracked by Asset Insight widened by over 55%, while the average ETP Ratio worsened by 1.3% to 52.1%. We consider 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 decreased only 0.8% during November to $5.5m, but that was a record low figure for the three years we have been compiling these statistics. With Asset Quality remaining relatively unchanged, the ETP Ratio could not help but worsen. Our analysis by aircraft group revealed the following:

LARGE JETS

Large Jets: 7.2% degradation in ETP Ratio (35.8% versus October’s 33.4%), but still the lowest/best Ratio among all groups.

The large jets also suffered a 1.2% Ask Price decrease, from $15.53m to $15.34m.

While the Asset Quality figure may be slightly below average, Maintenance Exposure is very close to the best it has been during the past 12 months and, with Ask Prices below the group’s 12-month average, serious Buyers should be actively pursuing candidate aircraft.

MEDIUM JETS

SMALL JETS

Medium Jets: ETP Ratio worsened for the first time in four months, increasing to 54.0% from last month’s 53.1%. The group’s average Ask Price decreased for the fourth consecutive month, this time 4.9% to $3.41m – another record low figure. At these prices, higher quality Medium Jets should transact steadily through the year’s final month of trading.

TURBOPROPS

Small Jets: While the ETP Ratio figure improved for the third consecutive month, Small Jets still posted the worst ETP Ratio among the four groups, 69.6%. However, with excellent Asset Quality, and a 2.4% average Ask Price increase to a record high $2.14m, transaction momentum should be on the side of many Sellers.

Turboprops: The group’s 43.4% ETP Ratio, second best among all sectors, was unchanged from last month, while Ask Price fell 1.7% to reflect the group’s 12month average, $1.57m. With Asset Quality registering above, and Maintenance Exposure below the group’s 12-month average, the stage is set for Buyers and Sellers to structure win-win transactions.

Market Summary

Current asset quality and pricing should be generating quite a bit of market

activity. However, many Sellers are hoping to secure unrealistic prices, while all-toomany Buyers continue to wait on the sidelines, so as not to overpay for aircraft whose values may continue to decrease.

Sellers need to accept that their aircraft are depreciating assets, and that Buyers will pay what a Seller seeks only if they cannot obtain a similar asset for less.

Buyers, on the other hand, need to realize that if they wish to acquire an aircraft at today’s lowest price, it is up to

them to create the lowest priced transaction by locating a desperate Seller.

Both sides need to do their homework.

Plenty of Sellers fail to capitalize on their aircraft’s Maintenance Equity, while many Buyers purchase on pure emotion rather than quantitatively evaluating an aircraft’s greatest “wild card” – its Maintenance Exposure. Asset optimization services are available to both Buyers and Sellers, and at a cost can far outweigh a mistake in terms of investment dollars. ! continued on page 36

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33

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BIZAV INTELLIGENCE ❚ MARKET INDICATORS

Honeywell Market Outlook: 2016-2025

Honeywell predicts 2016 will be a weaker year for jet deliveries than 2015, and that 2017 isn’t likely to be a whole lot better.

Back in 2012 Honeywell told us with dismal accuracy that ‘flat is the new normal’. Last year it said we were coming out of flat, with each coming year expected to be better than the last. In this latest forecast, however, it is telling us that ‘flat’ – or perhaps even a little less than flat – is going to continue for a year or two longer than expected last year.

And when things do get better, they won’t be quite as good as we thought they would be last year.

Ultimately, Honeywell’s recent forecast is for 9,200 new business jet deliveries worth $270bn in the 10-year period between now and 2025. Last year’s forecast predicted 9,450 jets worth $280bn for the comparable period. That’s not such a steep downturn – only 250 units worth $10bn – but last year Honeywell thought deliveries could push above the 800 unit level as early as 2017.

Now it doesn’t think jet sales will reach 800 units annually before 2019.

After 2019 things should be better, with deliveries rising well above 800 units annually, and continuing on an upward trend that approaches, but doesn’t reach, 1,000 by 2025. In last year’s forecast, the 1,000-unit mark was expected to be topped in 2023 and 2024.

Supporting this more-sober outlook is Honeywell’s finding that just 22% of operators are planning to purchase new jets in the next five years (counting both replacements and fleet additions). While in Honeywell’s own words this is “roughly in line with the prior year” when the forecast predicted purchases from 23% of the respondents, that 22% figure is the lowest Honeywell’s reported for operators planning new purchases since the year 2000. It’s sharply down from 2013 when it was 28%, and in each of the three prior years that number came in at 30%.

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AVBUYER MAGAZINE – January 2016

2015 Business Jet Delivery Forecast in Units 1200

1000

Aircraft Units

There was a measure of disappointment as Honeywell unveiled its new Business Aviation forecast on the eve of the annual NBAA Convention in Las Vegas, reports Mike Potts. Instead of predicting the upturn hoped for over the immediate months and years ahead, Honeywell scaled back its estimate of business jet deliveries.

Very High Speed - Ultra Long Range

800

Long Range

600

Ultra Long Range

Large Medium-Large

400

Medium Light-Medium

200

Light Very Light

0 © 2015 by Honeywell International Inc. All rights reserved.

~9,200 Aircraft from 2015 - 2025

© 2015 by Honeywell International Inc. All rights reserved.

Planning a Purchase?

Of those planning purchases in the next five years, 19% reported they’d be buying before the end of 2016, 17% in 2017, and 20% in 2018 with the remaining 44% expecting to make their buys in the following two years.

Enthusiasm for large-cabin airplanes is stronger than ever. In last year’s forecast Honeywell found that 48% of new aircraft buyers favored large cabin models. This year’s forecast raises that total to 52%.

Big-cabin, incidentally, begins in the Super-Mid-Size category with aircraft such as the Bombardier Challenger 350.

This preference for bigger airplanes means that 81% of the dollars spent in the market will go for these models, compared with 75% predicted in Honeywell’s 2014 forecast.

Honeywell blames the lackadaisical market on a slow-growth economic environment it says is taking hold over many global markets. Better sales will come, Honeywell says, when new aircraft models inspire owners to sell their older aircraft.

North America: Looking around the world, Honeywell expects 61 percent of the new aircraft purchases in the next five www.AVBUYER.com

years to come from the North American market - an increase of 2% over a year ago, essentially owing to reduced demand in the international market rather than any growing North American demand. About 22 percent of North American operators are expected to be buyers over the next five years.

Latin America: Forecast to be the second biggest market, Latin America is expected to represent about 18% sales.

A year ago Latin America trailed Europe at 17%. Changing economic fortunes have accounted for most of the shift.

Latin American customers are expected to be the most front-loaded among the world’s business jet customers, with 48% of their purchases expected to come before 2018.

Europe: Accounting for about 14% of the upcoming market, purchase expectations in Europe run in the 24% range. Both numbers are below historic averages as a result of slow economic growth in the region and increased political tensions related to refugees and migrants as well as devalued currencies.

Asia-Pacific: Expected to constitute about 3% of the world market, more robust growth is being inhibited by the Aircraft Index see Page 145

MarketIndicators Jan16.qxp_Layout 1 15/12/2015 10:10 Page 8

political conflict in portions of the region and low oil prices. Unlike Latin America and the Asia-Pacific, customers in the Middle East & Africa are more likely to defer purchases, with only about 18% of those planning purchases expected to act before 2018.

A Valid Alternative Outlook

disappointing performance of several major Asia-Pacific economies as well as government austerity measures in some countries. Only about 14% of the customers here plan new purchases in the next five years, but are expected to act quickly with 40% of the purchases expected to come in the first two years.

Middle East & Africa: Historically these have accounted for between 4-7% of the world’s market, but for the second straight year Honeywell is expecting them to lag at about 3%, due to

Embraer TenYear Market Outlook Embraer Executive Jets released its 10-

If the results of Honeywell’s research don’t please you, there are alternatives.

The closest comparable forecast to Honeywell’s is the JETNET iQ ‘State of the Market’ briefing, which the company updated at NBAA. This year’s JETNET iQ NBAA briefing includes segments on the economy, the state of the industry, detailed survey methodology and its forecast. JETNET shares much more of the background that makes up its forecast, unlike Honeywell which mostly alludes to its research. JETNET derives much of its forecast from a quarterly series of surveys with more than 500 operators representing more than 50 countries, so that at the end of a year JETNET has surveyed more than 2,000 operators.

This year’s JETNET iQ forecast predicts a bigger numerical market than Honeywell, foreseeing 9,365 units over the 10-year period from the beginning of 2015 until the end of 2024.

Despite expecting a higher number of airplane deliveries, JETNET believes total billings will top at $255bn. One difference is that JETNET predicts a new market for personal jets emerging in late 2016 and growing to as much as 100 units annually by 2020/21.

MI www.honeywell.com or www.jetnet.com

reduction in the demand from emerging markets.

The small and medium jet segments are expected to represent the majority of the market, with nearly two thirds of the

total deliveries, benefiting mostly from the opportunities out of the North American and European markets.

MI www.embraerexecutivejets.com ❚

year market outlook for Business Aviation at NBAA and forecasts global demand of 9,100 new business jets, worth US$259bn.

The analysis foresees demand likely to exceed the last decade’s deliveries and market value, when approximately 8,190 business jets were delivered, worth US$198bn. The new delivery forecast reflects a higher potential demand coming from the US market as well as a Advertising Enquiries see Page 4

www.AVBUYER.com

January 2016 – AVBUYER MAGAZINE

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BIZAV INTELLIGENCE ❚ BUYING & SELLING

Flight In The Slow Lane 2015 Used Aircraft Sales Sluggish

Looking back on 2015, transactions of pre-owned business turbine aircraft could have fared far worse, notes Dave Higdon. By the same token they could have been better. So what is the state of play as we enter 2016? What are the good and bad spots in used aircraft sales at this time?

W

hile we await a final tally, the prevailing signs point toward a year that weakened by the quarter in 2015 – with the traditional yearend spike in transaction closings expected to have little impact on the downward trend in pre-owned aircraft sales.

For what it's worth, new aircraft sales fared much the same – though, again, the crush of year-end transactions remains to be announced.

Bright Spots, Blight Spots...

The bright spots appear out on the horizon, with forecasts pointing toward a slow reversal in new 40

AVBUYER MAGAZINE – January 2016

aircraft deliveries in some regions of the world – offset by declines in regions previously experiencing steady growth. The expectations for growth in pre-owned transactions emerge from pockets of the world facing the logistical obstacles of poor or non-existent roads and far-flung needs. Flight activity in 2015 sets up these expectations.

For example, according to the JSSI Index, worldwide business jet flight hours grew by 4.3% in the third quarter, but still fell nearly 20% short of the worldwide peak reached in 2008. The light- and midsize-jet segments experienced gains – up 8.2% and 3.7%, respectively – while

www.AVBUYER.com

Aircraft Index see Page 145

Dealer Broker Market Jan16.qxp_Finance 15/12/2015 10:23 Page 2

Making Do or Fixing-Up...

large-cabin jets saw use decline by 5%. At the same time, business-use of helicopters dropped a steep 15%.

The fallout in helicopter utilization stemmed, to some extent, from declines in crude oil prices and reduced production and exploration efforts.

“Flight activity is, on the whole, indicative of volatility in the global Business Aviation markets,” said Neil Book, JSSI President & CEO. “The decline in oil prices has had a negative effect on the helicopter sector, which supports offshore operations and flight hours in the Middle East.”

Conversely, “Stable economic conditions in North America and Europe are reflected in flighthour growth,” he notes.

That growth notwithstanding, however, business aircraft use remains well behind 2008 levels, and similarly demand for aircraft continues to lag while business growth remains steady, albeit modest.

Advertising Enquiries see Page 4

Part and parcel of tepid aircraft sales is a sense among some operators that many of the attractions of a replacement aircraft (new or preowned) can be met by upgrading existing equipment. Upgrades in avionics and refurbishment of interior and paint continue to keep maintenance shops busy, according to a number of dealers and brokers surveyed for this story.

The Aircraft Electronics Association's Q3 2015 report of avionics sales revealed something of a dichotomy between forward-fit sales for new aircraft and retrofit sales for existing aircraft: Retrofit sales improved for the third straight period, while forward-fit sales declined in the first and third quarters of last year. Avionics sales – both forward-fit and retrofit – were trailing 2014 levels at the same point of the year with retrofit increasing each quarter, but still not matching 2014’s levels.

And that, say brokers, dealers and analysts, tracks with a pre-owned Business Aviation market that is essentially flat-to-slightly-declining.

“In the first 10 months of the year, whole retail transactions of pre-owned business jets were pretty much flat – actually, down about 1% year-over-year, according to JETNET records,” Business Aviation analyst Rolland Vincent explains. “The data are still moving around quite a bit for the November 2015 period as paperwork gets filed, so it is not very helpful to include those data in any comparisons, at least not yet.

“Prices have been hard hit,” Vincent adds.

“We heard that recent mark-to-market adjustments of 7-9% were taken in one swoop sometime between Q2 and Q3 2015. This is a general number, averaging across a bunch of airframes that lenders have in their portfolios.”

The news was unpleasant for sellers and for OEMs taking in aircraft on trade. “This was painful and unexpected - generally speaking, prices are soft and declining,” Vincent observes.

“This is 'normal' as the fleet and an individual airframe ages, of course, but the recent steepness of the drop in overall residual value seems to have caught asset managers by surprise.”

And it's not apt to improve without clearing out some inventory. Vincent explained, “This is a classic oversupply indicator - too many sellers chasing too few buyers.”

With the backlog many manufacturers enjoy, they may be contributing to the softness impacting their trades. “New products coming onstream are only exacerbating the deflationary trend,” Vincent notes. “This can be challenging for the owners of these assets, who appear to be holding on to their aircraft either in hope of a www.AVBUYER.com

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

“And that, say brokers, dealers and analysts, tracks with a pre-owned Business Aviation market that is essentially flat-toslightlydeclining.”

!

January 2016 – AVBUYER MAGAZINE

41

Dealer Broker Market Jan16.qxp_Finance 16/12/2015 11:15 Page 3

BIZAV INTELLIGENCE ❚ BUYING & SELLING

stronger pricing environment, or - having become resigned to the new valuations - are content to just ride for as many years/hours they can before a major maintenance or regulatory event grounds them.”

It's Not a Uniform Issue

As many brokers and dealers predicted, the bloom faded in the large-cabin jet market.

Interest in large-cabin business jets started to diminish just as demand for the light- and midsize jets began to increase, a turn predicted months ago by Brian Foley, of Brian Foley Associates. He made the point in an August missive.

“If you look at the last press release from August on brifo.com, I made the argument that new big cabin jets would slow down while small/medium [jets] pick up,” he said. “Maybe you saw that Gulfstream just shed (about) 1,000 people, so I guess that's starting to play out now.”

Vincent echoes Foley and several dealers and brokers. “We’re seeing lots of weakness in big cabin valuations. Inventory-for-sale has spiked in several models (e.g. G550, Falcon 7X) driven by weak emerging market demand, lower commodity prices, and buyer interest in in-development aircraft such as the G500/600 and Falcon 8X.” The causes are familiar – and, what hits new jet sales often is reflected in the pre-owned market. “The same reasons that are affecting new sales also translate to pre-owned, with big cabins not being such a sure thing going forward while medium and small jet prices and transactions finally begin to firm and strengthen,” Foley said.

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AVBUYER MAGAZINE – January 2016

The Chaos of the Market

Within the past five years the business aircraft market has seen what one broker called “boomlets of business,” (i.e. bursts in aviation growth in emerging markets, including Africa; South America; the Middle East; India and, in particular, China). But in the past year various influences have slowed all those spots.

China's market is enduring a significant and longrunning downturn that's put a damper on sales, even as the country attempts to stay on track for building new airports to connect the far reaches of its massive population. Russia, South America and the Middle East all struggle to maintain their economies in the face of the plunge in crude-oil prices – even as OPEC members and the United States continue to produce crude at levels exceeding demand.

With a strong stock market, profitable commodity prices, cheap credit and a growing economy and work force, North America appears poised to continue to provide the majority of customers for new, and in particular pre-owned business turbine aircraft.

Foley expects the most-robust market will continue to be the traditional leader. “The hot spot will be the US, which is not only the world's largest market [for business aircraft], but has one of the strongest economies relative to overseas,” Foley qualifies.

And with OEMs continuing to develop new, moreefficient models, the churn in trades, upgrades and replacements appears ready to continue – albeit at a pace only the market can sort out.

With most forecasts for new jet sales looking consistent, a return to the robust market of the prerecession may take more help from overseas markets, as brokers and dealers both concede that the best thing that can happen to the pre-owned market is a stabilizing world economy and stronger economic growth. ❚

www.AVBUYER.com

“North America appears poised to continue to provide the majority of customers for new, and in particular pre-owned business turbine aircraft. ”

Aircraft Index see Page 145

Eagle January.qxp 17/12/2015 09:52 Page 1

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Elliott January.qxp_Layout 1 14/12/2015 15:02 Page 2

Pre-owned AC Sales.qxp_Finance 15/12/2015 10:29 Page 1

BIZAV INTELLIGENCE ❚ BUYING & SELLING

Pre-Owned Aircraft Sales Trends

Adjusting to a ‘Darn-Near’ Mutated Marketplace There are so many over-/mis-used phrases in the pre-owned aircraft market, notes Vref’s Fletcher Aldredge. ‘New Economy’, ‘New Reality’ and ‘Stabilization’ are tired attempts to describe the marketplace. It’s time to be more descriptive – starting here…

I

n the past few years we’ve tucked away market realities toward the end of these reports. This time let’s put them front and center: There will be no more river in Africa called ‘De Nile’ for us. There really has been a sea change - darn near a mutation. There are two extremely important things that hap-

46

AVBUYER MAGAZINE – January 2016

pened in 2008 which changed this industry and this market, possibly forever.

• First: Banks and other financial institutions were required to change their lending practices. My Golden Retriever can no longer qualify for an aircraft loan.

• Second: The industry went global.

www.AVBUYER.com

Aircraft Index see Page 145

Pre-owned AC Sales.qxp_Finance 15/12/2015 15:57 Page 2

This globalization intensified in the years following the US Recession with emerging markets such as BRIC. Globalization has proven both a blessing and a curse. Activity blossomed but prices - then and now - continue their slide. Remember that old ‘10% Rule’, where if above 10% of a fleet was ‘for sale’ prices would drop, and below 10% prices climbed? That rule no longer applies to this world.

Why is this? Initially all that newly-created wealth outside the US produced new customers for everyone. Every large jet broker and some smaller dealers opened offices in Europe, Asia, the Middle East and South America. New aircraft brokers moved in to meet the demand. No longer does one need a roll of quarters to be an aircraft dealer. It only takes a cell phone.

More customers, more demand in more countries, what could possibly be wrong with that? Nothing, really. However, all the new players, brokers and bankers, selling an everincreasing number of airplanes (they don’t wear out or go away) meant no group or organization had, or has any influence whatsoever on prices…

Airplanes and helicopters sell for what the market will bear. And, with so many beleaguered economies around the world, it’s a buyers’ market almost everywhere. We’ll all have to get used to that… the most successful lenders and brokers have.

It’s a Wrap…

In our year-end wrap-up (right), you might notice a pattern. Nine of the top ten aircraft in the list only have one engine. Furthermore, six of the top ten are pistons. The bottom ten are comprised entirely of twin engine turbine air*THE TABLE ABOVE CONTAINS ONLY 2008 YEAR MODEL AIRCRAFT. SEE VREFONLINE FOR CURRENT, AVERAGE craft. (We are not saying you should go out VALUES AS WELL AS THE % OF NEW FOR EVERY YEAR MODEL. EACH SERIAL NUMBER IS UNIQUE. TIMES AND CONDITION WILL CAUSE GREAT VARIATIONS IN PRICE. **% OF NEW IS A COMPARISON OF THE ORGINAL NEW and buy a piston-single for your transatlantic PRICE IN 2008, AND TODAY’S USED RETAIL PRICE crossing, by the way, although it did work out OK for a guy named Lindbergh.) jets constantly adjusting to the free market.

The table includes only 2008 model year aircraft. As Eventually everyone will see aircraft for what they are – always, it is important to remember each serial number is highly specialized business tools, not investments. Quit worunique. The variables are many. For example, a non-standard rying about when or if your airplane will go up in value. Just interior in a large cabin jet can make a difficult market seem utilize it fully. After all, when was the last time a business impossible. The ‘Percentage of New’ column is a comparison bought a truck or a forklift as an investment? ❚ of the original new, MSRP in 2008 to today’s used Retail More information from www.vrefonline.com price.

The Pilatus PC-12 leads the entire study, retaining 88% of its value, while bringing up the rear the average 2008 Learjet 60XR is worth just 28% of its original new price after only eight years.

Fletcher Aldredge is publisher of the industryIt always come down to this: We all want to know what we respected Vref Aircraft Value Reference are least likely to know…the future. In a few rare cases mutaGuide. Vref is the industry’s modern price tions can be good. The current market, this new way of buyguide, designed especially for professionals ing and selling airplanes and helicopters, will ultimately prove operating in today’s challenging marketplace. a good thing, although right now it’s painful to watch large Contact Fletcher via info@vrefpub.com Advertising Enquiries see Page 4

www.AVBUYER.com

January 2016 – AVBUYER MAGAZINE

47

JMesinger Jan16.qxp_JMesingerNov06 17/12/2015 09:27 Page 1

BIZAV INTELLIGENCE ❚ AVIATION LEADERSHIP ROUNDTABLE

An Industry Perspective of 2016 What Lies Ahead for the Used Aircraft Market?

Sometimes before you look ahead, you have to look behind to get a full picture of what is around you, cautions Jay Mesinger.

A preview of the year ahead for pre-owned aircraft sales follows...

L

ooking in the rear-view mirror, one will observe that for the most part the North American market was active in 2015. Many dealers and brokers considered the past year one of their best. My associates all report that business was good, although friends in other countries do not have the same enthusiasm as they relate the activity for 2015.

Emerging markets such as Asia, China, the Middle East and Russia experienced greatly reduced activity. In fact in China almost all transactions consisted of aircraft selling from China rather than being sold into China. This situation is absolutely a reversal of fortune compared with a few years ago.

The change in economic dynamics has shifted once again.

Available inventory of business jets is moving in a direction, volume-wise, that is reminiscent to the 2008/2009 period, with most categories seeing their numbers increase. But there is a difference from six or seven years ago: Sales activity now is primarily in North America.

This shift from the recent past means an oversupply of aircraft, many coming from international operators placing added pressure on price recovery. As good as the North American sales activity is today, it cannot bear the weight of the entire global recovery.

What happened in the past will affect the view going forward into 2016. My expectation for the New Year is continued pressure on pricing. The trend for large body long range aircraft will be down. Demand has declined significantly as Multi-National companies are traveling less internationally. The shift in economic winds, I believe, is due to the lower price of energy and the stronger dollar; these two factors are playing havoc on the market for business aircraft in areas of the globe that had been bullish for Business Aviation.

Headwinds

In the beginning of 2015 when these economic factors began to appear, many large companies declared that all capital expenditures would be stopped for the year. I am hearing that numerous corporations have ceased capital expenditures through 2016 as well. This is very discouraging and will have a significant impact, not just on the effected flight departments but also on the OEMs as well as downline vendors.

Aside from causing a delay in purchasing new aircraft, this slowdown could mean fewer expenditures for modernization and refurbishments. Shops that provide avionic upgrades or paint and interior work will be impacted, which depresses jobs! That is the last thing our industry needs again.

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AVBUYER MAGAZINE – January 2016

Tailwinds

Fortunately, not all the 2016 outlook is dim. Buyers that are in our market continue to win, and win big as they find good aircraft.

First-time buyers will participate, probably in record numbers in North America. High-net-worth individuals rather than large corporations will spur growth and add jobs in North America.

One misconception is that when buyers win, sellers lose. I say this is simply not the case. When buyers win it means that sellers are selling. I promise you that this continued instability in pricing, although not good for long-term asset valuation, is only part of the story. The positive part is the counter balance. Aircraft are selling.

What’s Next?

How do we as sales professionals help our clients manage 2016?

• Bring solid market information to the table.

• Work diligently to provide data points that shape the real market.

• Use the increased inventory globally to accurately affect pricing.

Buyers and sellers have never needed these tools more than now. In 2008/2009 nothing was selling, thus pinning down a value was less important because no one had confidence in the market. No one knew how far or how fast the market was crumbling.

Today it is different. Buyers have confidence in the market.

They believe that annual residual loss rate is quantified. They will buy if they feel an aircraft is priced correctly.

For the seller, do not lose sight of the fact that inventory levels are high. Realize that buyers really are aware of correct values.

Everyone must understand market conditions. Choose a great partner to assist with your transaction, and be willing to dissect the individual aircraft under consideration.

You might be wise to pay more for a great aircraft, since all machines are not equal. Be smart and be open to the market.

The year ahead will be difficult, but it will not be impossible.

Happy New Year! ❚

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 145

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BOARDROOM ❚ CASE STUDY

Living The Dream

Building Communities with the aid of Business Aviation Roberts Resorts & Communities is expanding successfully with hands-on management able to find locations outside the limited sphere of cities served by Scheduled Airlines, observes Jack Olcott… And it’s all thanks to a Pilatus PC-12.

S

Jack Olcott was President of the NBAA from 1992 through 2003, and today Jack’s network and personal knowledge of Business Aviation uniquely qualifies him as Editorial Director and Publisher, AvBuyer.

Jack@avbuyer.com.

54

cott Roberts is the second generation of family management to guide the progress of Roberts Resorts & Communities, a developer of properties and dwellings for families seeking the benefits of home ownership. Founded nearly 50 years ago by his father, the firm was conceived to offer affordable homes for families of any age, with emphasis on those nearing or in retirement.

The goal was facilitating “The American Dream” to a broad segment of society. From its initial effort in California focusing on parks for recreational vehicles as well as RVs for those locations, Roberts Resorts expanded its business model to include locations in Arizona, Alabama, Colorado and Texas with park models (i.e., RVs) and manufactured homes.

AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

The market for manufactured homes is well established, but many developers in that business concentrate on locations they can access via the Scheduled Airlines since prospecting for new sites and managing facilities requires active involvement by management. “My parents were licensed pilots, and the use of Business Aviation was an integral part of their approach to market expansion,” notes Scott.

“They started with a Cessna 340 and progressed through a series of twin-engine piston aircraft from a Cessna 414 to a 421. I am second generation management and an active pilot, and I fly a pressurized Cessna 210.

“Utilizing the company aircraft, my parents grew Roberts Resorts into four locations in Arizona, several Aircraft Index see Page 145

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more in Texas, an Alabama development and another near Colorado Springs, Colorado. Now we have 14 communities, and at least once per month we visit them to assure quality control and to support our customers.

“With our goal being responsible development and pursuit of new opportunities such as Florida locations, we considered our need for greater speed and carrying capacity than the Cessna 421 provided,” he continues. “We knew we required more capability, but we did not wish to move into a business jet at this time or grow our aviation effort beyond the ownerflown system that had worked so well for us in the past.”

Enter the PC-12

With the assistance of Tempus Aircraft Sales & Service, a Colorado-based aviation service organization with facilities in Arizona and California, Roberts Homes was introduced to the Pilatus PC-12 singleengine turboprop. “We found the PC-12 suited our needs particularly well,” Scott explains.

“The aircraft provides more interior volume that we had previously, and it has sufficient speed to fulfill the marketing and management missions of our company. With its ability to use smaller airports coupled with its load capacity and speed, the PC-12 fits right in.

“We can leave the company’s home base in Scottsdale, Arizona and do business in Austin, Texas within about three hours; then fly to Daytona Beach, Florida in another three hours, accomplishing two site visits within just a few days. Considering our mission, we feel the cost-benefits of our PC-12 solution are superior to what we would obtain from a business jet.”

Scott Roberts recently transitioned from his Cessna P210 to the Pilatus turboprop. A 2,800-hour owner-pilot with 18 years’ experience in singleTHE SPACIOUS INTERIOR OF THE PC-12

engine aircraft, Scott finds the PC-12 quite stable and easy to fly. In particular, he feels the cockpit layout and avionics are particularly easy to manage as a non-professional pilot. FlightSafety International provided his 11-day transition training, utilizing its Level D simulator for the Pilatus. Sixty hours of mentor flying followed his checkout.

Scott says that obtaining insurance for his operation of the PC-12 did not present a problem. While hiring a professional pilot dedicated to the aircraft might still be an option, he is pleased that he can continue his use of Business Aviation as an ownerpilot to manage existing properties and expand into new markets beyond the current reach of Roberts Resorts & Communities.

Expansion

“With the PC-12 we plan to travel further and grow, particularly into the Florida region. The Southeast represents great opportunities for our manufactured homes and managed communities,” Scott adds.

“The Pilatus allows us to use our time quite efficiently.

Although the Cessna P210 was a great aircraft, I did not feel it offered the capability we needed to capitalize on growth opportunities. The PC-12 does.”

Many entrepreneurial companies such as Roberts Resorts & Communities find that Business Aviation in all forms, from professionally flown corporate jets to owner-operated singles, provides a competitive edge. Throughout the USA as well as in many areas of Europe, business aircraft are able to access more locations than can be reached quickly and efficiently

by Scheduled Airlines.

Companies serving customers and shareholders understand that maximizing profits is facilitated by Business Aviation. ❚

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“We can leave the company’s home base in Scottsdale, Arizona and do business in Austin, Texas within about three hours...”

More on Roberts Resorts & Communities at www.robertsresorts.com Advertising Enquiries see Page 4

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January 2016 – AVBUYER MAGAZINE

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Ownership JAN16.qxp_Layout 1 15/12/2015 12:27 Page 1

BOARDROOM ❚ OWNERSHIP

Flight Department Management

The Benefits of Establishing & Tracking Key Performance Indicators (KPIs) Goals must be set for all business units within a corporation, including the Flight Department. To be effective, however, your aviation manager must be prepared to embrace the need for KPIs, notes David Wyndham.

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

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O

ne very important part of leading a company as well as managing an individual business unit is setting and achieving goals. Visionary goals such as ‘being a product leader’ in a certain field or providing the industry’s ‘best customer service’ should be matched by key performance indicators (KPIs).

These measurement tools are critical to the success of the organization.

They also need to be applicable to each business unit. For example, if a retailer’s strategic goal is doubling the number of retail locations in the Northeast US, a KPI for sales would be very differ-

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ent than a KPI for Legal or HR, although sales and other business units would be aligned to support the retailer’s overall program.

For a KPI to be valuable, it must be understandable, meaningful and measurable. It also must help determine progress for the overall success of the company as well as establish measures of effectiveness for business units or teams supporting the program.

KPI fulfillment also needs to be (mostly) within the control of the business unit using the indicator.

A good idea is for the KPI approach to follow the S.M.A.R.T. criteria...

Aircraft Index see Page 145

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Ownership JAN16.qxp_Layout 1 15/12/2015 16:00 Page 2

BOARDROOM ❚ OWNERSHIP

• • •

• •

Specific: The KPI should be specifically related to the business purpose being pursued and not just a general data point.

Measurable: The KPI must have a clearly assigned value.

Achievable: KPIs relate to achievements the organization thinks it can meet. They can’t be too easy, but also they cannot rely on perfect conditions to fulfill.

Relevancy: This characteristic is often overlooked. As mentioned above, a KPI that works for Sales won’t work for the Legal department.

Timelines: KPIs should be time-based, with a defined period of performance.

Having ‘aviation’ KPIs attached to goals is necessary for the aviation department to be managed effectively. For the Flight Department (FD) to contribute to the corporation’s success, it must have the measures in place to support corporate as well as departmental activities. Regarding the example above of a company expanding its retail outlets, the FD manager must decide where the department can provide the most effective support.

Supporting Corporate Expansion

Transportation of development and specialty teams, such as engineering, sales, marketing and HR, typically is a necessity for companies expanding into new locations. Relevant KPIs for the Flight Department may be passengers transported or trips flown to the Northeast in support of the expansion effort.

Another KPI can be the ratio of travel time to ‘productive’ time.

With the Northeast Expansion goal, productive time is the time spent on site or meeting with the entities needed to launch the new operation. Using the company’s business aircraft reduces travel time and allows for more time on-site for face-to-face meetings.

A 12-hour travel day probably results in an overnight stay to accommodate an 8-hour meeting, followed by another 12-hours returning home, which is far less productive than a five-hour trip each way during the same day utilizing the aviation department. Flight Department KPIs have a specific value to the company and are within the control of the aviation department. For our example of regional expansion, they are easily measured, achievable, relevant and timely.

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AVBUYER MAGAZINE – January 2016

In addition to facilitating more productive business hours, the Flight Department Manager in our example can assign values to the time saved. An engineer may be valued to the company at one salary while a senior executive may be valued much higher.

This metric is intrinsic when discussing who has access to the business aircraft, but putting measurable values on time can be a difficult exercise.

Furthermore, value of a person’s time is above the Flight Department Manager’s pay grade. Nevertheless, an attempt at valuation is worthwhile.

Caution

Be wary of unintended consequences with KPIs. For aviation, focusing on a cost per hour KPI can lead to ignoring productivity of the aircraft. It can also lead to measures being taken to underutilize the aircraft in order to delay major maintenance into another fiscal year. Cost per hour can also avoid looking at aircraft productivity per se.

If aircraft A costs $6,000 per hour and Aircraft B costs $5,000, the cost per hour clearly favors Aircraft B. But what if Aircraft A cruses at 460 knots while Aircraft B flies at 400 knots (see Table A, below)? Thus Aircraft A costs $13.04 per mile while Aircraft B costs $12.50 per mile. Let’s assume Aircraft A carries nine passengers and Aircraft B carries seven, the true cost per passenger, per mile for Aircraft A is $1.45 and $1.79 for Aircraft B. Clearly, Aircraft A is about 20% more efficient to operate than Aircraft B, assuming all seats are occupied.

Summary

People are a company’s most valuable asset. Time is a non-renewable resource. Thus, the company aircraft transports the firm’s most valued asset and allows the most productive use of their limiting resource, time. The use of time needs to be directed to areas that create value and support the strategic goals of the company.

KPIs are useful in keeping the focus on plan execution. Aviation needs useful KPIs that can help managers achieve superior results for the corporation. ❚

“ For aviation, focusing on a cost per hour KPI can lead to ignoring productivity of the aircraft.”

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 145

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BOARDROOM ❚ BUYING & SELLING

Right-Sizing:

The Right Reason or Knee-Jerk Reaction?

The term ‘Right-Sizing’ seems to be taking hold in many sectors of our economy, notes Jay Mesinger. It’s rife in Business Aviation, too, but what are the right reasons, and what are the flawed reasons for right-sizing?

S

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

60

omething suddenly seems ‘too big’ so municipalities, city and local governments work to fix the problem by ‘right-sizing’ it. Sometimes it feels as though they’re trying to fit a square peg into a round hole – all in the name of creating budgetary, space or density solutions.

Right-sizing isn’t a bad idea, of course, unless the solution hasn’t been thought-out and the aim of right-sizing is merely to create the right optics, or to play around with a problem and call it a solution.

What does this have to do with our industry? At the beginning of 2015 I wrote in an article that we need to be careful what we wish for. We as a country wished for lower fuel prices, more energy independence and a stronger dollar. Lo-and-

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behold! We got them all on the same day and the entire world shuttered! The fulfillment of those wishes has wreaked havoc on the major oilproducing countries, oil-producing companies, companies that provide ancillary goods and services to oil-producing countries, and companies in the US that export products to EU countries.

Just as we all thought that 2015 would continue to grow in global aviation activity it came to a halt in the emerging markets. Between the regulatory crackdown in China (based on anti-corruption laws and weakening economy) and the effect in the Middle East and Russia of the price of oil, we suddenly found our global industry coming home to its roots. North America is bearing the weight of the majority of aircraft activity.

Aircraft Index see Page 145

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Buying&Selling Jan16.qxp_Layout 1 17/12/2015 09:34 Page 2

BOARDROOM ❚ BUYING & SELLING

The reaction to this sudden shift…? Right Sizing!

For our industry that means an evaluation of production numbers among the airplane manufacturers, which then knocks the next domino over on the OEM suppliers (including engine OEMs, avionic OEMs), and on, and on… Next, North American flight departments start having serious discussions about the size and mix of their fleets, which causes management to rethink their long-range needs versus back-to-basic domestic needs. Discussions result that involve canceling or postponing new aircraft orders as well as other important capital expenditures like modernizing existing fleets.

Thus we come to the crux of this article: the correct reasons for right-sizing and the more dangerous knee-jerk reactions.

Let me give you an example from living in Boulder, Colorado. Several months ago our City Council selected several major streets in town, deciding to right-size them to accommodate dedicated multiple lanes for bicycles sharing the streets with cars. It turned out they made knee-jerk plans based on what proved to be flawed, onesided input. One day the city’s residents woke to find what was once a two-lane street in each direction now had a wide bike path on both sides of the street, and one car lane in each direction…

Business- and home-owners along the street were outraged. Traffic became congested (although the bicycles blew through).

This was the first of four or five major arteries in the city scheduled to be converted. The backlash was quick and fierce. It turned out the city was only looking at the petitions of the bikers. They immediately began to undo these lane changes and life returned to normal.

When it first decided to do this, the council applauded itself. The eventual back-down was an embarrassment to the council and a significant cost to the city for the re-painting of lanes.

This corrective action to highway lanes was much easier to fix than serious fleet changes in flight departments or manufacturing production changes from OEMs. Thus, right-sizing for the correct reason is important and critical to continue to meet the needs of the constituency. And good planning, foresight and budgeting around change is vital to the success of an outcome.

Making quick changes that are often more based around optics than the need for change (based on long-range planning) can never have a happy outcome. The OEMs need to carefully look at growth and constriction trends. Momentary hiccups

should be carefully analyzed to be sure that the changes that are being planned for are long-term rather than just blips.

Flight departments that are shedding aircraft and changing mix significantly may find themselves with an outcome of fleets that will not be sustainable if the winds shift again. It is too early to forecast the long-term effect - or frankly the longterm reliability - of the cost of oil or the strength of the dollar.

My fear is that what is meant to be right-sized will be wrong-sized and that we would be trying to put our collective foot into a shoe that’s too small. ❚ Are you looking for more Business Aviation Ownership articles? Visit www.avbuyer.com/ articles/category/business-aviation-ownership/

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

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BUSINESS AVIATION INTELLIGENCE

Aircraft Index see Page 145

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Tax Jan16.qxp_Layout 1 15/12/2015 11:31 Page 1

BOARDROOM â?š TAX

Planning for Section 179 Uncertainties:

What Will Happen to Equipment Expenses and Deductions for 2015?

Chris Younger explores the difficulties that Congress imposes on US businesses by continuing its practice of delaying revisions to IRS Section 179 and depreciation allowances until the 11th hour.

A

s millions of dollars of aircraft were on static display last month at the 2015 NBAA BACE in Las Vegas, businesses remained without answers regarding reinstatement of higher Section 179 expensing limits and 50% bonus depreciation for the 2015 tax year.

Although it looked likely at the time of writing (early December 2015) that retroactive extension of these tax incentives will be part of the tax extenders package that Congress will pass and send to the President to be signed into law by the end of 2015, there is certainly no guarantee that this 64

AVBUYER MAGAZINE – January 2016

will be the case. Therefore, a Board must be mindful of the possibility that these tax incentives will not be available when making decisions regarding the timing and amount of business aircraft capital expenditures.

Furthermore, even if Congress approves the Section 179 tax provision for the 2015 tax year desired by industry, the concept of decision-making in anticipation of legislative action should be handled with caution, going forward.

Higher expensing levels under IRS Section 179, for the past two years, have allowed some business aircraft owners to take the full depreciation deduction of aircraft and items installed in

www.AVBUYER.com

Aircraft Index see Page 145

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them in the current tax year. While Section 179 is a powerful incentive, Congress has placed limits on the amount that a business can deduct in any given year.

For tax year 2014, the maximum total amount was $500,000 (up from $25,000 in previous years), and the Section 179 deduction was limited to taxpayers who purchased less than $2,500,000 in capital assets. The Section 179 deduction begins to phase out, dollar-for-dollar, once the purchase price of the equipment exceeds $2,000,000. Thus, Section 179 expensing is only beneficial on aircraft purchases or upgrades less than $2,500,000 in value. Without the higher levels, Section 179 is scheduled to fall to $25,000 with a $200,000 phase-out.

History

In early 2015, the Senate Finance Committee passed a tax extenders package covering Section 179, but the full Senate did not consider it. The House Ways and Means Committee passed its own provisions to approve higher Section 179 levels in February 2015, followed closely by full House approval. Further, Congress passed tax extenders to cover tax year 2014 in December 2014, leaving little time for business aircraft owners to make purchasing decisions based on the higher Section 179 limits.

Typically linked together with extension of higher Section 179 expensing limits is the extension of 50% bonus depreciation for new equipment purchases. In prior years, bonus depreciation would be taken after the Section Advertising Enquiries see Page 4

179 Spending Cap is reached. Bonus depreciation is a special tax deduction granted to taxpayers who place certain “qualified property” in service in the tax year in which it has been made available.

For most qualified property, the allowance is 50% of the adjusted basis of the qualified property (i.e., after adjustments under other sections of the Internal Revenue Code (IRC) (e.g., Section 179)). This allowance was increased from 50% to 100% for Qualified Property placed in service after September 8, 2010 and before January 1, 2013 for qualifying aircraft. At the time this article was written, bonus depreciation remained unavailable for 2015 and Congress had not decided whether to extend the bonus depreciation provisions.

In the absence of an extension of increased Section 179 limits and 50% bonus depreciation, Board Members must decide whether to take the risk of purchasing business aircraft or make other expensive capital improvements to their business aircraft without the certainty that those expenditures will be fully deductible in the current tax year.

As with all business decisions, conventional wisdom dictates that it is imprudent to make a decision whether or not to make a large capital purchase based solely on the tax consequences resulting from such an expenditure. The Board will therefore need to weigh the necessity for such an expenditure in the absence of the anticipated or hoped for tax savings.

“The Board will therefore need to weigh the necessity for such an expenditure in the absence of the anticipated or hoped for tax savings.”

Impact of Uncertainty

Considering the uncertainty of Congressional action, a Board’s conservative course of action is to consider whether the business would make such a purchase decision in the absence of a tax write-off and to view the potential tax savings as a windfall if they come to fruition. If the Board does not view its decision in such a manner and instead factors into its analysis the anticipated but potentially unavailable tax savings, it could find itself in the unenviable position of needing to explain a large budget shortfall to its shareholders.

Nevertheless, history has shown that tax considerations often have a profound impact on a company’s purchase decisions. Therefore, business leaders should urge their elected representatives to resolve important tax issues, such as the provisions of IRS Section 179 and Bonus Depreciation, early in the calendar year. ❚ Are you looking for more Business Aviation Tax articles? Visit www.avbuyer.com/articles/category/business-aviation-tax/ www.AVBUYER.com

Chris Younger is a partner at GKG Law, P.C. practicing in the firm’s Business Aircraft Group. He focuses his legal practice on business aircraft transactions as well as issues relating to federal and state taxation and regulation of business aircraft ownership and operations.

Mr. Younger can be contacted at cyounger@gkglaw.com

January 2016 – AVBUYER MAGAZINE

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Insurance JAN16.qxp_Layout 1 15/12/2015 11:11 Page 1

BOARDROOM ❚ INSURANCE

BizAv And TRIA

A Primer on the Terrorism Risk Insurance Program Reauthorization Act of 2015 With passage of the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIA), the Act is now extended to expire December 21, 2020.

Stuart Hope examines the dilemma this act creates for the aircraft owner and examines whether it’s a good bet to purchase it.

W

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

66

ith the exception of a few changes, TRIA continues to provide a Federal backstop for domestic insurers required to offer terrorism coverage on specified lines of Commercial insurance. But what are its origins?

In the wake of 9/11, insurance companies who were already providing terrorism coverage to aircraft owners under the War Risk Perils endorsement immediately cancelled that coverage per the cancellation provisions of the endorsement. Other insurers who wrote commercial insurance for building developers, construction companies and related industries ceased providing terrorism coverage forth-

AVBUYER MAGAZINE – January 2016

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with. Meanwhile the banks stopped offering loans where they could not get terrorism insurance to protect their investments.

Within a few weeks of 9/11, the War Risk market again offered the coverage but at greatly increased premiums. Most aircraft owners had to purchase the coverage due to the contractual insurance requirements contained in the loan agreements on their aircraft.

In late November 2002, Congress signed into law the Terrorism Risk Insurance Act of 2002 which required domestic insurers to offer terrorism coverage to Commercial clients. In return the Federal Government would provide a financial backstop (similar to reinsurance) for any terrorism losses Aircraft Index see Page 145

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incurred that exceeded a certain threshold.

This coverage must be offered to this specified class of Commercial clients (which included aircraft owners) every year and the client has to accept or reject it.

Dilemma

As mentioned above, most aircraft owners already carried coverage for terrorism which is an included ‘peril’ under the War Risk Perils endorsement. With subsequent passage of the TRIA act, aircraft owners were met with a dilemma…

Since they already had terrorism coverage under the War Risk Perils endorsement, it appeared to be an easy decision to decline the TRIA coverage every year since it would apparently amount to double coverage for the same peril, and therefore not be needed. However, there are some differences in the coverage which complicates the decision.

Aggregate vs Occurrence

Terrorism coverage provided under the War Risk Perils endorsement provides the same liability limit carried on the aircraft policy, but is provided on an aggregate basis. This means regardless of the number of claims submitted during a policy term, once the policy limit has been paid cumulatively, the coverage is exhausted and the owner would have to re-load its limit by purchasing additional liability coverage limits.

Terrorism coverage provided under TRIA is written on an occurrence basis, meaning each separate occurrence during a policy term is provided the full policy limit. In addition, if the aircraft owner carries a liability limit of $300m, the War Risk Perils carries a sub-limit of $50m for all bodily injury and property damage claims – except bodily injury to passengers. You can purchase excess third party war coverage to amend to an occurrence basis and delete the $50m sublimit if desired.

Advertising Enquiries see Page 4

Coverage Trigger

The War Risk perils coverage trigger is governed by the insurance policy contract language. If the claim is determined to be Terrorism per the policy and there are no applicable exclusions, then the policy will respond. In order for coverage to be triggered under TRIA, the loss must be certified by the Secretary of the Treasury — in consultation with the Attorney General and the Secretary of Homeland Security — to: 1. Be an act of terrorism; 2. Be a violent act or an act that is dangerous to human life, property, or infrastructure; 3. Have resulted in damage within the US, to an air carrier, US-flagged vessel, or the premises of a US mission; and 4. Have been committed by an individual(s) as part of an effort to coerce the civilian population of the US or to influence the policy or affect the conduct of the US Government by coercion.

The take-away is the trigger for TRIA is not controlled by contract language but rather by three individuals.

Cancellation

Terrorism coverage provided under the War Risk Perils endorsement has numerous cancellation options.

TRIA coverage cannot be cancelled except by the US Government.

“ ...TRIA is not controlled by contract language but rather by three individuals.”

Should You Buy Both?

If you don’t already have it, buying the War Risk Perils coverage is a no-brainer. You pick up coverage for roughly 25 excluded war perils for a small premium.

If the premium to also include TRIA coverage is not expensive, I would certainly recommend buying it for the advantages it offers (occurrence basis, coverage trigger, and cancellation provisions).

In any case, you should speak to your aviation insurance broker about your particular situation. ❚

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January 2016 – AVBUYER MAGAZINE

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Avionics Jan16.qxp_Finance 15/12/2015 16:02 Page 1

FLIGHT DEPARTMENT ❚ CONNECTIVITY

Avionics Connectivity (Part 1) Introduction & Overview

AIRCRAFT CONNECT EXTERNAL Satellites

Ground Facilities

AIRCRAFT CONNECT INTERNAL External Transfer Platforms

Service Providers

Trip Plan (Sub-tier)

Satellite & Ground Services

Onboard Platforms

HOW AN AIRCRAFT CONNECTS TO THE OUTSIDE WORLD AND TO ITS ONBOARD

Onboard Services

Data (Sub-tier)

Trip Plan & Data Services

Convert Onboard Platforms

Onboard Convert Services

SYSTEMS Audio & Display Platforms

Helping you understand the technology, integration and advances of aircraft

avionics and equipage, Ken Elliott begins a five-part series on aircraft connectivity, starting with an introduction and overview of this vast subject.

F

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

70

or the last several years, designers, developers, providers and integrators have each contributed enormously to a revolution in aircraft connectivity, both internal to the fuselage and externally to destinations throughout the world. We are: • Less reliant on voice communication; • More able to monitor other aircraft and receive detailed performance of our own machine; and • We can operate offices in the sky using high speed data, watch HD videos, track real time movement over distant oceans and send social media messages to our loved ones from all corners of the planet.

Over the next five articles, AvBuyer will review how we accomplish these marvels of our time, addressing both Networks and Providers, and the services they offer. We will cover equipment, integration and options available to business aircraft operators. Above all, we’ll attempt to demonstrate the wider aircraft connectivity of today and tomorrow, enabling operators to see the benefits of integrated systems and make wise economic choices for their investments going forward.

AVBUYER MAGAZINE – January 2016

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Note that connectivity is used in place of communication. Communication, by definition, implies voice and data streams but connectivity goes much further, as will be revealed.

A High Level Introduction & Overview

An aircraft connects externally to the outside world and internally to its onboard systems. The complexity of this connectivity is so vast that Figure 1 (above) can only represent a simplistic overview.

This overall series, however, will mirror this functional block representation and the sub-sections of this introduction will do the same.

Satellite Networks

Ground-based facilities are adequate for most external connectivity, providing an aircraft is well within range, and the technology bandwidth and frequency are appropriate for the task. More significantly satellite networks have evolved to replace the old High Frequency (HF) services, filling in the oceanic and polar airspaces. They also supplant some of the ground VHF-based services and are on the way to doing more. !

Aircraft Index see Page 145

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FLIGHT DEPARTMENT â?š CONNECTIVITY Figure 2: Most of the Satellite Providers

Figure 3: Sub-Tier Trip Plan Service Providers

Aviation today is very dependent on satellites that provide voice, text, data, internet and video services to fleets of aircraft or single operators via Service Providers.

Inmarsat offers operator, passenger and safety services via its legacy Aero, Swift 64 and Broadband programs.

During 2015, it commenced Ka Band platform coverage with the launch of a new range of satellites, and in partnership with Cisco, for gateway applications, offering 50Mb per second.

Ka band, branded as Global Express (Aviation), uses Inmarsat I-5 supplied satellites, of which there will be three, while L band is available from three earlier generation I-4 satellites, offering 3G service, and five legacy I-3 satellites also providing L band service.

Iridium also offers operator, passenger and safety services from its 66 low earth orbit (LEO) satellites. It enables broadband services for laptops and tablets. In 2016, as new satellites come on line, Iridium will begin to offer faster broadband with speeds of 1.4Mb per second. Both satellite networks offer smartphone capability, including optimized applications that may be used on board the business aircraft.

A third network, ViaSat, offers Business Aviation inflight Ka and Ku band internet. Services include video teleconferencing and this year speeds will double and coverage will increase up to seven times using a new second satellite. ViaSat has made significant inroads into Business Aviation, where existing aircraft OEM standardized platforms are not the only option. Their recent collaboration with Jet Aviation, on a 2016 Global Express program, is an example of this development.

Ground-Based Facilities

Figure 4: Sub-Tier Data Service Providers (inc. flight tracking)

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AVBUYER MAGAZINE – January 2016

Still very much a part of the aviation infrastructure, ground-based services include voice, text and data, mostly over VHF. Aircraft communicate with Air Traffic Control Centers (ATCC), Terminal Radar Approach Controllers (TRACONs), and Air Route Control Centers (ARCC).

Very High Frequency (VHF) sits further along in the frequency spectrum than its longer range companion, HF. It is, primarily, a continental land-based communication system. VHF, as line-of-sight communication, has limited range. It uses a carrier modulated at much lower frequency rates with voice or data.

Still using VHF, but as a short-range capability, data services are also provided in different regions throughout the world. VDL Mode 2 (VDLM2), used for digital datalink, is 10 times faster than traditional VHF analogue datalink (VDL Mode 0). Traditional aircraft equipment can be replaced or upgraded to include VDLM2 capability.

VDLM2 supports the Controller Pilot DataLink Communications (CPDLC) requirement of Data Comm and is required for European and ICAO mandates. For the US, initial applications of datalink use both VDLM2 and allow continued use of VDL Mode 0. These form part of the overall adoption of FANS 1/A, extending to include North Atlantic Tracks System (NATS) that eventually will evolve into a wider data capability under the banner of ATN-B2.

At a lower frequency and using repeater ground www.AVBUYER.com

Aircraft Index see Page 145

Avionics Jan16.qxp_Finance 15/12/2015 11:46 Page 3

Figure 5: Services Offered by Satellite Providers stations, polar coverage of data can still be served by High Frequency Data Link (HFDL). Although Iridium satellite polar coverage (part of FANS over Iridium – FOI) is now available, HFDL remains an integral capability in the FANS 1/A toolkit.

Data shared between users includes operational, weather and engine reporting. Clearances, runway conditions and text messages are part of ATC data that will increase under NextGen/SES2+/ICAO Block programs as they move away from voice methods of communication.

Service Providers

While satellite networks and ground facilities provide the link between users, service providers offer the method to use those links. Providers support multiple applications and aggressively compete for the business (see Figure 2 top left).

Ground facility providers are primarily ARINC (a division of Rockwell Collins) and SITA (a consortium owned

by European airlines). Other VHF datalink services include ADCC China, DECEA Brazil, AVICOM Japan and Aero Thai.

These service providers and others that specialize at a sub-tier level, offer a potpourri of satellite- and groundbased tools for pilots and operators. Most services involving the use of data can be grouped into two primary categories. One is trip plan and the other flight data, and these include aircraft performance and flight tracking.

Beyond the satellite and ground facility service providers are sub-tier suppliers of specialized data tools that support the provider platforms. These data tools, however, are also offered or bundled by the primary service providers themselves.

Figures 3 and 4 (left) provide comprehensive but not complete groupings of these sub-tier providers. Bear in mind that all service providers have multiple capabilities.

It would therefore be prudent to contact each directly, including researching their websites. Lists in this article show where service providers tend to focus their resources.

Within each data grouping are the types of services being offered. Figures 5 and 6 (right) begin with services provided from satellite and ground facility providers.

Figures 7 and 8 (right & overleaf) represent the specialized operation services from sub-tier service providers.

These tools can be tabled under two major groups, trip planning and flight data. It is worth mentioning that included in the services provided are several additional tools. These are acceleration and filtering of data, mobile applications, medical aids and member services such as NBAA Air Traffic Services (NBAA ATS).

Figure 6: Services Provided by Ground Facility Providers

Figure 7: Examples of Trip Planning Tools

Connecting Onboard with External Transfer Platforms

Think of external transfer platforms as the means of moving internal voice and digital data to satellite networks and ground facilities, via service providers. Also these platforms receive and process data from outside. These platforms are on-board aircraft equipment transforming and transferring external and internal derived electronic Advertising Enquiries see Page 4

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Avionics Jan16.qxp_Finance 15/12/2015 11:46 Page 4

FLIGHT DEPARTMENT ❚ CONNECTIVITY Figure 8: Examples of Flight Data Tools information, in and out of the aircraft. External transfer platforms include complex Satcom and VHF equipment from avionics suppliers.

Connecting Internally via Onboard Platforms

External transfer platforms process and pass on voice, video and data to onboard cabin system platforms having topical brand names such as Smart Link, Venue and Ovation Select.

Connecting Internally with Onboard Services

Figure 9: Suppliers with a Far Reach in the Industry Note: Rockwell Collins now has both its long-standing, Inmarsat-based, and the recently acquired ICG Iridium-based range of equipment. Honeywell already has Inmarsat- and Iridium-based equipment (the Iridium Aspire originating from ICG in 2013).

From video to text messages, passenger address to lighting control, aircraft onboard services are as broad in their ability to control anything in the cabin as they are complex. Subsequent articles in this series will address these and other topics in much greater detail, informing readers of capabilities and choices available to operators.

Fully integrated platforms provide many services throughout both the cockpit and the cabin. Figures 10 (bottom left) and 11 (top, right) offer just some of the platforms and associated services.

One such internal service on Figure 11 – ‘Provider Services’ – offers a wealth of information to both the cabin and the cockpit, including weather, moving maps, flight plans and company message transfer.

Converting Onboard

Figure 10: Aircraft Onboard Platforms

Think of these onboard platforms as a means of transposing physical things into digital things. Later these digital things are transformed into terabytes of data sent onward, via external transfer platforms, over superhighways forming an oceanic-capable internet.

Deep within an aircraft are sensors and converters that provide masses of data to both onboard and external transfer platforms. Most sensors are an integral part of the aircraft build, unless part of an aftermarket modification. On the other hand, many converters are added to facilitate the conversion of one kind of data to another.

Examples include analogue-to-digital conversions and router-to-Wi-Fi connections, used when complex cockpit or cabin systems are added.

Aircraft manufacturers with the luxury of designing fully integrated avionics from scratch, can largely avoid conversion of signals and data. So expect to see conversion more in aftermarket solutions. Note that proposals from MROs focusing on aftermarket upgrades will often include conversion equipment, so do not be surprised when it appears on bids and proposals.

A common and emerging need for both sensors and converters is to enable the transfer of aircraft performance data to on-board tablets and devices or to external transfer systems for sending real-time data to the ground.

Displaying Onboard

Specifically, displaying of data and video onboard aircraft has become something of a separate area of connectivity. We listen to voice either in real time or animated, but the reliance on sound is becoming less for flight crews.

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Aircraft Index see Page 145

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Figure 12: Some Aircraft Converter Supplies

Figure 11: Aircraft Onboard Services

With broadband, display methods are critical to passengers.

Data as imagery, and data as visual script, are presented to flight crews on primary and multifunction flight displays, back up displays, FMS control display units, electronic flight bags, tablets and so many other forms of image presentation, such as HUDs with EVS. Data as imagery, visual script and video are presented to passengers on seat controls, seat monitors, group monitors and via cabin Wi-Fi on tablets, smart phones and other devices. There is even now the product that covers sidewalls and bulkheads, thereby allowing full size display of images for the benefit (or possibly dread) of passengers.

It’s worth noting that many displays are hosted and branded by big name avionics manufacturers, forming subparts of complex systems, but the displays themselves are often made by other specialized suppliers, such as Barco.

A Future Vision

Aircraft devices connect and convert physical things into digital things. Onboard platforms scale and combine digital things, as data streams, to external reaching platforms. Later, terabytes of data are transmitted externally.

As aviation integrates into the Internet of Things (IoT) with its vast future ‘data lakes’, the road ahead offers endless possibilities, restricted only by the availability of storage and transfer technology, and the security of data, protected from both intentional and unintended consequences.

Figure 13: Conversion Methods Onboard Aircraft Today

In 2016, Bombardier launches its new Inmarsat-based WAVE (Wireless Access Virtually Everywhere). With such smart branding alone, the smell of future possibilities already permeates the airspace in which we fly. ❚ Are you looking for more articles on Avionics?

Visit www.avbuyer.com/articles/category/businessaviation-avionics

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

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PrePurchase Insp.qxp_Finance 15/12/2015 12:14 Page 1

FLIGHT DEPARTMENT ❚ BUYING & SELLING

Pre-Purchase Aircraft Inspections Anticipating and Navigating a Complex Process Successfully The pre-purchase inspection: It’s an essential part of any used aircraft transaction, meaning it’s vital to understand both from the perspective of the buyer and the seller, says Lufthansa Bombardier Aircraft Services’ Robert Drover...

W

hen considering the Pre-Purchase Inspection (PPI) it makes sense to begin early, preferably at the Aircraft Purchase Agreement (APA) stage of the transaction. After all, it is the APA that will specify the scope of the PPI, as well as the conditions under which the buyer can cancel the transaction if discrepancies are revealed as a result of the PPI. 76

AVBUYER MAGAZINE – January 2016

There are various matters to resolve between buyer and seller before a successful PPI can take place. For example, they must agree on a facility to conduct the inspection.

To avoid a conflict of interest, the aircraft buyer should always select a neutral facility that has not undertaken the regular, scheduled maintenance for the aircraft previously or had any other pre-existing relationship with the seller. The reason for this is

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Aircraft Index see Page 145

PrePurchase Insp.qxp_Finance 15/12/2015 12:14 Page 2

undertaken than the seller is happy to include in the PPI. For example, a buyer might require a highly comprehensive inspection on an older aircraft (common practice), or one that has been exposed to more adverse climates (salt air or dusty environment). Perhaps the aircraft in question has damage history that the buyer wants checked carefully, or was operated in a part of the world whose infrastructure does not support the same standard of maintenance as is common in the buyer’s region.

While the seller may be concerned that any corrective action required as a result of the more comprehensive inspection would eat into the value of the transaction to them, the buyer naturally does not want to pay for an unseen airworthiness issue that could have been identified by a more thorough inspection.

A good inspection shop will help clarify the scope of inspection available to both buyer and seller. For example, LBAS offers its inspections at Levels 1-3 - Level 3 being the most detailed inspection - but with each level being clearly defined and based on the MRO’s experience with the specific aircraft type.

The buyer and seller, together with their representatives, must work together to iron out their differences and mutually agree on the scope that the chosen shop will perform. Once an agreement is reached, the APA can then define the delivery conditions between the aircraft buyer and seller, and the PPI can proceed.

Robert Drover is Director Sales & Marketing at Lufthansa Bombardier Aviation Services (LBAS) in Berlin, with 25+ years of experience in Business Aviation. LBAS unifies the know-how of three industry leaders, Lufthansa-Technik, Bombardier Aerospace and ExecuJet, and today offers more than 210 MRO specialists, all experts in their field. Visit www.lbas.de

What Happens in a PPI?

simple - an ‘independent’ facility is best-placed to provide an independent, non-biased inspection report.

It is also important that the independent facility is able to demonstrate experience with the aircraft type being inspected. The buyer should be able to obtain previous customer references to confirm the experience, and offer insight on the quality of the work previously undertaken.

Furthermore, beware the price that seems too good to be true! Never choose a less experienced facility because its price is lower. Remember, you are dealing with a multi-million dollar transaction in most cases, and you can be sure you will ultimately get what you pay for! The PPI is not something that should be shortchanged.

Other Bones of Contention

An additional area that occasionally arises, and needs resolving at the APA stage of the transaction is the scope of the inspection. Perhaps the aircraft buyer wants more inspection tasks to be Advertising Enquiries see Page 4

PPIs are a complex business with the various interests involved. An experienced facility will help manage the complexities, and LBAS aims to be a pivotal point in the transaction, seeking to help manage the process and ensure that both buyer and seller are happy with the outcome. But what, typically, can each party expect from the PPI process?

Typically at LBAS, once the aircraft buyer has initiated the process and requested a PPI, they will receive a proposal from the facility with the options available (Level 1-3 in LBAS’ case), with each level being clearly defined.

Alternatively, the buyer may choose to define their own inspection scope in addition to the facility’s recommendations. Once selected, the scope of the PPI will be clearly defined, leaving no room for misunderstanding from any of the parties, and when the seller agrees to the scope and nature of the PPI, the buyer will pay for the inspection up-front.

The buyer, seller and facility should then seek to execute a three-party agreement that governs individual responsibilities, and establishes the lines of communication for the duration of the PPI – all of which are essential to prevent the process from becoming more complicated than it needs to be. www.AVBUYER.com

“A good inspection shop will help clarify the scope of inspection available...”

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PrePurchase Insp.qxp_Finance 15/12/2015 12:17 Page 3

FLIGHT DEPARTMENT ❚ BUYING & SELLING

“In most instances, the PPI will be completed before any discrepancies are rectified.”

The aircraft and its records are then delivered to the facility and the inspection can begin. Ideally, both buyer and seller will have representatives on site throughout the inspection process.

In most instances, the PPI will be completed before any discrepancies are rectified. In any case all discrepancies found are communicated to both buyer and seller for them to agree and approve before any action is taken. Furthermore, at LBAS, no action to rectify a discrepancy will ensue without individual snag approval.

A final report will be generated, providing a summary of the aircraft condition and status of airworthiness related items – this is provided initially to the buyer and (if the buyer agrees) also to the seller upon request.

PPI Over, What Next?

Typically a PPI will identify two categories of discrepancy: airworthiness limiting and nonairworthiness-limiting.

•

78

As a matter of course, the seller will always pay for the airworthiness-limiting items as they’re obliged to deliver a fully airworthy aircraft to the buyer.

AVBUYER MAGAZINE – January 2016

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•

Other, non-airworthiness items are presented to both buyer and seller for them to agree between themselves regarding cost of corrective actions.

Once one of the two parties approves the individual items, the facility will proceed with rectification. If neither party agrees to take responsibility for an item, that item remains ‘open’. Once all approved items are corrected, the work order is closed, the respective invoices are billed, and the transaction can move towards completion.

Thus you can see that close lines of communication are required for an aircraft transaction before, during and after the pre-purchase inspection. This is no time to try and cut costs, and both parties will need a full complement of aviation professionals and a knowledgeable, experienced PPI facility to help them navigate the process and come away from the transaction feeling as though they each got a great deal! ❚ Are you looking for more articles on Ownership?

Visit www.avbuyer.com/articles/category/ business-aircraft-ownership Aircraft Index see Page 145

Jeteffect Inventory January.qxp 16/12/2015 12:56 Page 1

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Year

Model

Serial No.

2000

Astra SPX

130

1990

Challenger 601-3A

5066

1991

Challenger 601-3A/ER

5086

2002

Challenger 604

5549

1997

Challenger 604

5349

2008

Challenger 605

5754

1996

Citation X

750-0011

2006

Global 5000

9176

1987

Gulfstream GIV

1008

2002

Gulfstream GIVSP

1495

1993

Gulfstream GIVSP

1192

2009

Gulfstream G150

255

2008

Gulfstream G150

266

2009

Gulfstream G450

4148

2010

Gulfstream G450

4188

2012

Gulfstream G450

4235

2010

Gulfstream G550

5255

1998

Learjet 31A

165

2000

Learjet 45

079

2005

Learjet 45XR

282

2001

Learjet 60

211

2011

Phenom 100

50000223

2010

Bell 427

56080

Maintenance Jan16.qxp_Finance 15/12/2015 16:04 Page 1

FLIGHT DEPARTMENT ❚ MANAGEMENT

Creating a Flight Department (Part 8)

Developing the Security Plan The tragic events of 9/11 in the USA as well as current headlines from around the globe elevated the need for comprehensive security planning within Business Aviation, observe Fred Haap and Jack Olcott in this first of a two-part treatment for Fight Departments…

S

afe and secure operations have always been attributes of transportation via business aircraft. Business Aviation has an overall safety record comparable with the most sophisticated Scheduled Airlines and in some years even better in terms of accidents and fatalities.

A similar statement can be made about security within Business Aviation. Safety and security, in fact, are complementary qualities; some languages use the same word for safety and security, so close are the two characteristics.

Prior to the terrorist attacks on September 11, 2001, flight department security programs focused primarily on protecting passengers and the company owning or operating the business aircraft from two threats: unauthorized dissemination of proprietary information (i.e., industrial security), and disruptions caused by troubled individuals or reactionary share80

AVBUYER MAGAZINE – January 2016

holders with a grievance. (Avoiding media with their seeming insidious appetite for gossip and indignant fault-finding also was addressed.)

Flight Departments operating internationally developed procedures for dealing with threats from politically active groups. For the most part, however, the risk of terrorist activity against domestic flight was considered to be low.

Since 9/11, however, the specter of radicals interrupting a flight created a ‘new normal’ for all forms of air transportation, even Business Aviation.

Consequently, today’s Flight Department must have a comprehensive security plan.

Security Basics

Two underlying concepts for establishing and implementing security procedures are identical for all threats. The first is having secure areas, usually identified as concentric rings surrounding the aircraft

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Maintenance Jan16.qxp_Finance 15/12/2015 12:03 Page 2

whether in the hangar or parked on the ramp awaiting crew and passengers. The second is identifying who is allowed to transverse a security ring.

Using the aircraft as the center of each security ring, the first perimeter where passengers, service personnel and/or flight crews must be identified typically is the line between areas of public access and the demarcation of restricted locations at the FBO or company waiting area were only people with a need for access are allowed to enter.

In some cases, the first security circle might be access to the airport property (e.g., a private airport solely for the use of company personnel). For the most part, however, this first perimeter is designed to preclude access by persons with no mal-intent as well as providing the initial warning that a secure area is being breached by nefarious characters.

Typically, FBO or company employees vetted for the purpose of determining who is allowed to cross that first level of security, serve as ‘gatekeepers’. If someone trespasses into the secured area, the gatekeeper challenges the individual and if unsuccessful in correcting the situation, alerts appropriate authorities.

Surrounding the aircraft itself is a second security circle, established sufficiently distant from the vehicle to prevent any tampering or mischief. Typically, the security plan specifies that a crew member escorts passenger and service personnel across that second security perimeter. In essence, no person comes within close proximity of the aircraft unless accompanied by a vetted crewmember.

Depending upon local circumstances, vetted FBO personnel might be allowed access to the aircraft at locations well known to the crew, but to be fully secure delegation of security functions is unacceptable.

The third security level is the aircraft itself. No one should be allowed entrance into the aircraft without first being identified by the aircraft captain or lead passenger (provided the lead passenger is known to the captain). Facial identity is an axiom of security. IDs can be forged. Driver licenses with photos can be misused or simply bogus. But recognizing a business associate or friend is essentially the gold standard of security.

Implementation

No one must be allowed to enter the aircraft without a clear reason to being there and without being known to the captain or lead passenger—Period! No exceptions!

Many corporations require that a passenger manifest be set well in advance of an aircraft’s estimated time of departure, so that appropriate vetting can be accomplished. If any questions arise, it is recommended that the aircraft captain check with the company’s head of corporate security, or with the FD scheduler if a corporate security department does not exist.

Advertising Enquiries see Page 4

The Flight Department’s Security Plan should specify how passenger manifests will be addressed.

The flight crew should be encouraged to communicate with corporate security or responsible top management regarding passenger wellbeing, prior to boarding a flight or post flight if a passenger’s ongoing behavior seems suspicious or possibly unstable.

If the lead passenger wants to bring a stranger onboard, the captain must be authorized to challenge that person for his or her identification and the reason why the individual is accompanying the flight. FDs should have a procedure in place (such as a code word or phrase) that alerts the captain to a potential threat to security. Furthermore, subsequent actions following the utterance of that security word or phrase must be documented in the department’s Security Plan.

When Airborne

Flight Department policy should state what is allowed in the passenger cabin as well as in the cockpit. Many companies prohibit the carrying of firearms in areas accessible in flight. The Security Plan should specify how firearms will be handled if there is passageway between the cabin and baggage area. For example, gun locks are available and the crew can carry the keys.

Similar to all aspects of flight, the crew should practice “what if” exercises, imagining possible security scenarios. What if a passenger disrupts the flight? What if ATC requests that airspace be cleared? Just as with other emergencies, it is best to know what to do before being called upon to act.

Remember, especially when flying internationally, some airspace overlays hostile areas. Unfortunately, terrorists have some sophisticated missiles. Also, the FD’s Security Plan must specify the recommended procedures for using one or more of the specialized flight planning services available to operators. Those services are a FD’s best means of avoiding hot spots.

Next Steps

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

“If the lead passenger wants to bring a stranger onboard, the

The Flight Department’s Security Plan is a required document and should be presented as a component of the overall Business Plan for providing aviation services. Based upon basic security practices and special conditions related to the company’s anticipated areas of operation, procedure must be established, implemented and practiced just as other safety functions are addressed in the department’s Ops Plan.

Next month we will relate the security basics presented herein to specific steps that should be considered when creating a Flight Department. ❚

captain must be authorized to challenge that person for his or her identification...”

Are you looking for more articles on Flight Department Management? Visit www.avbuyer.com/articles/ flight-department-management/ www.AVBUYER.com

January 2016 – AVBUYER MAGAZINE

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Safety 1 Jan16.qxp_Finance 15/12/2015 12:20 Page 1

FLIGHT DEPARTMENT ❚ SAFETY

Aviation Safety from the Ground Up How Can an Operator Assess Third-Party Ground-Handling Services?

B

Ground handling is often overlooked within Business Aviation, notes Mario Pierobon, even though ultimate responsibility for contracted services rests with the operator. What are the basic checks you can make to ensure your service provider complies with the requirements?

usiness Aviation hubs normally do not have the same level of traffic as the large international airports used by the Scheduled Airlines. Denser activity naturally poses a higher risk of collision between ground support equipment and aircraft. Nevertheless, even on quieter ramps the safety of flight can be compromised when ground service providers operate with a limited focus on the quality and safety of the service they render.

This mind-set can especially be a problem for business aircraft operating into developing countries with relatively undeveloped oversight regimes.

It’s actually a regulatory requirement for air operators themselves to verify that contracted activities conform to applicable law – e.g. EASA’s AIR OPS organizational requirements [ORO.GEN.205] call for operators to ensure that when contracting or purchasing any part of their activity, the contracted or purchased service or product conforms to the applicable requirement.

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Further, when an operator contracts any part of its activity to an organization that is not itself certified or authorized in accordance with EASA to carry out that activity, the contracted organization is required to work under the approval of the operator. Thus, the air operator must also ensure that the competent authority is given access to the contracted organization, to determine continued compliance with the applicable requirements.

Ground handling and ground de-icing/anti-icing are specifically detailed in regulatory guidance materials to ORO.GEN.205 as activities that operators may decide to contract to external organizations and thus subject to scrutiny by the air operator as contracted activities.

The key point to understand is that the ultimate responsibility for aircraft ground handling services provided by external organizations remains with the air operator.

Under its safety management system the air operator is responsible for ensuring all contracted activities, including ground handling services, are subject to hazard identification, risk

www.AVBUYER.com

Aircraft Index see Page 145

Safety 1 Jan16.qxp_Finance 15/12/2015 16:06 Page 2

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

management and compliance monitoring. In the case of a contracted organization itself being certified or authorized to carry out the contracted activities (e.g. when an air operator flies to a destination where the ground handling company contracted operates under the AOC of an air operator based at the given destination), the operator’s compliance monitoring function should at least check that the approval effectively covers the contracted activities and that it’s still valid.

In addition to legal considerations, best practices call for the air operator, regardless of the regulatory environment, to provide sufficient oversight to ensure safety.

Ascertaining Safety Standards

An IS-BAH registration is one way for air operators to ascertain that the ground handling services they purchase are of a safe standard. The International Standard for Business Aircraft Handling (IS-BAH) is a set of global industry best practices for Business Aviation ground handlers featuring at its core a safety management system (SMS), and is meant to provide standardization to handlers and operators around the world to meet SMS requirements.

An IS-BAH registration provides evidence that the handling company has an SMS in place (i.e. that it actively manages safety hazards, and that it meets selective quality and safety standards). The IS-BAH registration should simplify audit redundancy and specifically the need for operators to continuously audit third-party ground service providers.

Advertising Enquiries see Page 4

It should be noted, however, that for the time being there are only a limited number of organizations providing business aircraft handling services with an IS-BAH registration.

It will take time before the IS-BAH program achieves the critical mass whereby a significant network of IS-BAH-registered business aircraft handling companies is developed.

In the meantime the only option is for operators to continue to subject third parties to compliance monitoring. While it may be impractical to audit an organization whose services are needed only occasionally, an effort should be made to monitor the agents whose services are known to be needed on a recurrent basis.

Aircraft ground handling is notorious for having limited prescriptive regulatory requirements.

Nevertheless an air operator should expect that its third-party handlers perform hazard identification and safety risk assessments and that the results of these are incorporated into operating procedures.

The compliance monitoring function should look into operating practices and training programs (which must be documented) and verify that they are subject to continuous improvements covering the whole scope of aircraft handling; that they are documented to a sufficient extent to be unequivocally interpreted by the personnel who implement them; and that they lend themselves to be tailored to the air operator’s request should the air operator need peculiar ground service specifications. ❚ www.AVBUYER.com

“In the meantime the only option is for operators to continue to subject third parties to compliance monitoring...”

January 2016 - AVBUYER MAGAZINE

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Values Intro.qxp_Finance 15/12/2015 12:36 Page 1

FLIGHT DEPARTMENT ❚ RETAIL PRICE GUIDE

Business Aircraft Values: The Large Cabin Choice

There are occasions when the operator’s mission dictates an aircraft of larger capacity. This month our value study focuses on our definition of Large Cabin and Ultra-Long-Range business jets.

T

he average Large Cabin and Ultra-Long-Range jets share more in common than they differ, with similar cabin sizes and comparable cruise speeds ranging roughly between 450-500kts. For the purpose of this month’s focus, we’ll categorise Large Cabin and Ultra-Long-Range jets under the generic category of ‘Large Cabin jets’, on the basis of their shared characteristics, and MTOWs that generally range between 38,000-100,000 pounds.

Large Cabin jets have much in their favor. Seats-full range capabilities typically go up to, and into the 6,000nm range, making these effective non-stop continent and ocean-crossing machines. The fewer the stops, the shorter the overall trip time!

One disadvantage the Large Cabin jets have over their Small and Medium jet kin is their need for runways longer than 6,000ft, which restricts the number of airports they can use by comparison. Nevertheless, for the trans-oceanic traveller, the advantages offered by these airplanes far outweigh the negatives.

Where the Large Cabin airplanes really excel (as the name would suggest) is in their cabin capacities. A cabin will typically stretch from 30-40 feet or more, enabling operators to enjoy a wider array of finishing options and office capabilities than jets in the smaller segments can provide. Cabin heights in excess of six feet guarantees stand-up cabin comfort, while seating capacity of 8-18 is typical.

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Naturally, the size and range capabilities of Large Cabin jets don’t come cheaply, and you’ll need a larger fuel budget, more hangar space and a larger maintenance budget. Yet for the company with the need, the Large Cabin jet will rarely prove too small, and only occasionally be too large for an airport you’d prefer to access. In these situations, supplemental charter is the answer.

Large Cabin Jet Price Guide

The following Large Cabin jets’ Average Retail Price Guide represents current values published in the Aircraft Bluebook– Price Digest. The study spans model years from 1996 through Winter 2015. Each reporting point represents the current average retail value published in the Aircraft Bluebook by its corresponding calendar year.

For example, the Dassault Falcon 900LX values reported in the Winter 2015 edition of the Bluebook show $30.0m for a 2012 model, $28.0m for a 2011 model and so forth. Aircraft are listed alphabetically. With the reader’s knowledge of aircraft, equipment, range and performance, the following Guide allows the reader to determine the best value aircraft for consideration.

Note: We have included 41 aircraft models in the following Large Cabin average price guide, and for additional assistance, Conklin & de Decker’s Performance and Specifications data for these models can be referred to, beginning on page 88. !

www.AVBUYER.com

continued on page 86

Aircraft Index see Page 145

Corporate Concepts 1 December.qxp 19/11/2015 14:53 Page 1

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CCI's Search and Acquisition Services and Completion Management are custom designed to the client’s specific needs. Each project includes a comprehensive list of services along with our performance guarantee. We would be pleased to develop and send you an individualized list of advisory and management services upon your request. CCI knows the services we provide is as much of a relationship business as it is a technical advisory business. CCI provides the highest level of individualized commitment designed to achieve all your objectives and guarantees the client’s full satisfactions.

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Retail Values.qxp_RPG 15/12/2015 12:40 Page 1

FLIGHT DEPARTMENT ❚ RETAIL PRICE GUIDE

Large Cabin Jets Average Retail Price Guide YEAR OF MANUFACTURE $ MODEL

2015 US$M

2014 US$M

2013 US$M

17.0

BOMBARDIER CHALLENGER 850ER

27.0

BOMBARDIER CHALLENGER 605

24.0

20.0

23.0

20.0

2012 US$M

2011 US$M

2010 US$M

2009 US$M

2008 US$M

14.5

13.5

12.5

11.5

10.5

9.5

16.0

15.0

14.0

13.0

12.0

11.0

BOMBARDIER CHALLENGER 604 BOMBARDIER CHALLENGER 350 BOMBARDIER CHALLENGER 300

18.5

16.5

15.5

14.5

13.5

12.5

2007 US$M

2006 US$M 8.5

10.0

9.5

11.5

10.5

10.0

BOMBARDIER GLOBAL 6000

55.0

47.0

44.0

40.0

BOMBARDIER GLOBAL 5000

48.0

36.0

33.0

30.0

27.0

25.0

23.0

21.0

19.0

17.0

33.0

32.0

30.0

28.0

26.0

24.0

22.5

35.0

34.0

31.0

29.0

27.0

24.0

23.0

20.0

19.0

17.0

16.5

15.5

15.0

13.0

12.0

16.0

15.0

BOMBARDIER GLOBAL EXPRESS XRS BOMBARDIER GLOBAL EXPRESS DASSAULT FALCON 7X

53.0

45.0

40.0

DASSAULT FALCON 2000LXS

31.0

29.0

27.0

DASSAULT FALCON 2000S

27.0

24.0

22.5

DASSAULT FALCON 2000LX DASSAULT FALCON 2000DX EASY DASSAULT FALCON 2000EX EASY

14.0

13.0

10.0

9.5

DASSAULT FALCON 2000EX DASSAULT FALCON 2000 DASSAULT FALCON 900LX

43.0

37.0

32.0

30.0

28.0

26.0

DASSAULT FALCON 900DX

19.5

18.5

17.5

16.5

15.5

DASSAULT FALCON 900EX EASY

24.0

22.0

21.0

20.0

19.0

34.0 9.5

9.0

DASSAULT FALCON 900EX DASSAULT FALCON 900C DASSAULT FALCON 900B EMBRAER LINEAGE 1000E

45.0

41.0 38.0

37.0

36.0

35.0

EMBRAER LEGACY 650-135BJ

31.6

25.0

22.0

19.0

17.5

15.5

EMBRAER LEGACY 600-135BJ

26.0

20.0

18.0

16.0

EMBRAER LEGACY 500

19.0

18.0

EMBRAER LEGACY 450

16.0

GULFSTREAM G650ER

70.0

EMBRAER LINEAGE 1000

13.0

11.5

EMBRAER LEGACY 135BJ

8.0

68.0

GULFSTREAM G650 GULFSTREAM G550

55.0

46.0

67.0

65.0

44.0

40.0

38.0

37.0

33.0

29.5

28.0

27.0

31.0

30.0

28.0

26.0

24.0

23.0

20.0

25.0

24.0

23.0

22.0

21.0

18.5

15.5

21.0

18.0

16.5

15.5

14.5

11.5

9.5

GULFSTREAM G500 GULFSTREAM G450

36.0

28.0

27.0

GULFSTREAM G400 GULFSTREAM G350 GULFSTREAM G300 GULFSTREAM G280

22.5

21.5

20.5

19.5

GULFSTREAM GV GULFSTREAM GIV SP AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: CARL@JETAPPRAISALS.COM

86

AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

Aircraft Index see Page 145

Retail Values.qxp_RPG 15/12/2015 12:41 Page 2

RETAIL PRICE GUIDE ❚ FLIGHT DEPARTMENT

What your money buys today

Winter 2015 2005 US$M

2004 US$M

2003 US$M

2002 US$M

2001 US$M

2000 US$M

1999 US$M

1998 US$M

1997 US$M

1996 US$M

YEAR OF MANUFACTURE $ MODEL BOMBARDIER CHALLENGER 850ER BOMBARDIER CHALLENGER 605

8.5

7.7

7.0

6.4

5.7

5.5

5.0

4.8

4.7

4.2

BOMBARDIER CHALLENGER 604 BOMBARDIER CHALLENGER 350

9.5

9.0

8.750

BOMBARDIER CHALLENGER 300 BOMBARDIER GLOBAL 6000

15.0

BOMBARDIER GLOBAL 5000

20.0

BOMBARDIER GLOBAL EXPRESS XRS

18.250

16.2

15.7

15.0

14.0

13.3

12.5

BOMBARDIER GLOBAL EXPRESS DASSAULT FALCON 7X DASSAULT FALCON 2000LXS DASSAULT FALCON 2000S DASSAULT FALCON 2000LX DASSAULT FALCON 2000DX EASY

12.0 9.0

11.0

DASSAULT FALCON 2000EX EASY

10.0

9.0

8.5

7.5

DASSAULT FALCON 2000EX 6.9

6.6

6.1

5.4

4.9

4.6

4.3

DASSAULT FALCON 2000 DASSAULT FALCON 900LX

14.5 18.0 11.8

DASSAULT FALCON 900DX 17.0 10.8

16.5

DASSAULT FALCON 900EX EASY

12.5

12.0

11.5

11.0

10.5

10.0

10.0

9.7

9.0

8.8

8.5

7.7

8.5

8.3

7.5

9.5

9.0

DASSAULT FALCON 900EX

7.0

6.6

DASSAULT FALCON 900B

DASSAULT FALCON 900C EMBRAER LINEAGE 1000E EMBRAER LINEAGE 1000 EMBRAER LEGACY 650-135BJ EMBRAER LEGACY 600-135BJ

7.5

7.0

6.5

6.2

EMBRAER LEGACY 135BJ EMBRAER LEGACY 500 EMBRAER LEGACY 450 GULFSTREAM G650ER GULFSTREAM G650

24.0

23.0

22.0

GULFSTREAM G550

19.0

18.0

17.0

GULFSTREAM G500

10.0

9.0

14.5

GULFSTREAM G450 GULFSTREAM G400

8.5

GULFSTREAM G350 6.5

5.5

GULFSTREAM G300 GULFSTREAM G280 15.5

14.5

8.2

7.7

13.5 7.2

12.5 6.8

12.0

11.5

10.9

GULFSTREAM GV

6.3

5.8

5.5

GULFSTREAM GIV SP

AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: CARL@JETAPPRAISALS.COM Advertising Enquiries see Page 4

www.AVBUYER.com

January 2016 – AVBUYER MAGAZINE

87

ACSpecs Intro.qxp_AC Specs Intronov06 15/12/2015 12:46 Page 1

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

Aircraft Performance & Specifications

Large Cabin & Ultra-Long-Range Jets

T

he AvBuyer Magazine Guide to Aircraft Performance and Technical Specification Data is updated by Conklin & de Decker on a regular basis. The Guide is much more comprehensive and informative, providing more aircraft types and models and including variable cost numbers for all models.

This month’s category of aircraft - Large Cabin & Ultra-Long-Range Jets – appears overleaf, to be followed by Medium Jets next month.

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

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

Tel: +44 (0) 20 8391 6770; Email: editorial@avbuyer.com. © 2011 Conklin & de Decker Associates, Inc., P.O. Box 1142, Orleans, Massachusetts, 02653, Tel. 508-255-5975, www.conklindd.com

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

88

AVBUYER MAGAZINE – January 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 145

!

General Aviation January.qxp_Layout 1 14/12/2015 17:05 Page 1

AircraftPer&SpecJan16.qxp_PerfspecDecember06 15/12/2015 17:01 Page 1

GLO BAL 500 0

BOM BAR DIER

GLO BAL EXP RES S XR S

BOM BAR DIER

GLO BAL EXP RES S

BOM BAR DIER

CHA LLEN GER 850

BOM BAR DIER

CHA LLEN GER 650

BOM BAR DIER

CHA LLEN GER 605

BOM BAR DIER

CHA LLEN GER 604

BOM BAR DIER

CHA LLEN GER 350

BOM BAR DIER

BOM BAR DIER

CHA LLEN GER 300

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

$3,135.88

$3,152.10

$3,640.78

$3,388.42

$3,384.82

$3,544.71

$5,347.34

$5,321.30

$5,093.92

CABIN HEIGHT FT.

6.08

6.08

6.08

6.08

6.08

6.08

6.25

6.25

6.25

CABIN WIDTH FT.

7.17

7.17

8.17

8.17

8.17

8.17

8.17

8.17

8.17

CABIN LENGTH FT.

23.7

23.7

28.4

28.4

28.4

48.42

48.35

48.35

42.47

CABIN VOLUME CU.FT.

930

1002

1146

1146

1146

1964

2002

2002

1889

DOOR HEIGHT FT.

6.22

6.22

5.83

5.83

-

5.8

6.16

6.17

6.17

DOOR WIDTH FT.

2.5

2.5

3.08

3.08

-

3.08

3

3

3

BAGGAGE VOL. INT. CU.FT.

106

106

115

115

115

202

190

195

195

BAGGAGE VOL. EXT. CU.FT.

-

-

-

-

-

-

-

-

-

CREW #

2

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

8

8

10

10

10

15

13

13

13

MTOW LBS

38850

40600

48200

48200

48200

53000

95000

98000

92500

MLW LBS

33750

34150

38000

38000

38000

47000

78600

78600

78600

B.O.W. W/CREW LBS

23850

24800

27100

27150

27150

34618

50300

51200

50861

USEABLE FUEL LBS

14045

14150

19850

19852

19852

18274

43158

44642

38959

PAYLOAD WITH FULL FUEL LBS

1105

1800

1263

1298

1298

358

1792

2408

2930

MAX. PAYLOAD LBS

3350

3400

4815

4850

4850

9382

5700

4800

7139

RANGE - SEATS FULL N.M.

3065

3200

3756

3756

3756

2456

5940

6055

5200

MAX. RANGE N.M. (4 PAX)

3220

-

4033

4063

4063

2946

6460

6390

5137

BALANCED FIELD LENGTH FT.

4810

4853

5765

5840

5665

6305

6170

6170

5540

LANDING DIST. (FACTORED) FT.

3951

3850

4050

3833

3833

4120

3667

3667

3667

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

4240

-

4345

4345

4345

3395

3450

3300

3450

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

474

-

680

581

581

443

522

474

704

MAX. CRUISE SPEED KTAS

470

470

488

488

488

459

505

511

511

NORMAL CRUISE SPEED KTAS

459

459

459

459

459

442

488

488

488

L/RANGE CRUISE SPEED KTAS

459

459

425

425

425

425

459

471

471

2

2

2

2

2

2

2

2

2

HTF 7000

HTF 7350

CF34-3B

CF34-3B

CF34-3B MTO

CF34-3B1

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

BR 710-A2-20 BR 710-A2-20 BR 710-A2-20

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

90

AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

Aircraft Index see Page 145

!

Hagerty Jet Group January.qxp_Layout 1 15/12/2015 12:41 Page 1

L SA

E EP

M IM

U AC

LE SA

Fr

AD

RE

Y

AD

R FO

2009 Gulfstream G550 Serial Number: 5230 Asking Price: $34,500,000 Hours: 2,135

E

2008 Gulfstream G450 Serial Number: 4141 Asking Price: Make Offer Hours: 2,541

DIN

4M

YF

ING

LAT

N PE

2 esh

RE

ND

G

2000 Gulfstream IV-SP Serial Number: 1411 Asking Price: $7,950,000 Hours: 5,542

ont

h

1994 Gulfstream IV-SP Serial Number: 1242 Asking Price: $5,950,000 Hours: 4,171

OF

O OR

FER

S

2008 Gulfstream G150 Serial Number: 250 Asking Price: $6,495,000 Hours: 1,905

FFE

RS

2014 Falcon 900LX Serial Number: 276 Asking Price: $32,000,000 Hours: 302

“In founding Hagerty Jet Group, we set out to build an independent Ć’TO VJCV GZEGNNGF DG[QPF VTCFKVKQPCN CKTETCHV DTQMGTCIG.â€? ,COGU *CIGTV[

• • • • •

16 Pax FWD Galley w/ Crew Rest Area Enhanced Nav, ADS-B Out, TCAS 7.1 HD-710 Swift Broadband Engines on RRCC One Owner since new • Part 135 Capable

• • • • •

ASC 059B Enhanced Navigation Upgrade ATG-5000 GoGo WiFi with Talk & Text Synthetic Vision System II (SVS2) ASC 079 ADS-B Out One US Owner since new • Part 135 Capable

• • • • •

13 Pax Aft Galley w/ Fwd & Aft Lavs GoGo WiFi & HD-710 SBB Triple FMS 6.1 / TCAS 7.1 / ADS-B Out New Interior in 2013 Part 135 Capable • NY Area Based • Turn Key Airplane

• • • • •

Fresh Engine Overhauls – August 2014 Very Low Total Time Two US Owners Since New Aft Galley/Forward and Aft Lav APU on MSP

• Engines and APU on MSP Gold • Avionics enrolled on CASP • One U.S. Corporate Owner Since New • 8 Place Universal Interior w/ FWD Divan & Belted LAV Seat • Dual IFIS Servers with Jeppesen Charts & XM Weather • RosenView Passenger Information System

• • • • •

Transferable Warranties Starting May 2014 Swift Broadband MSC-7120 SATCOM w/ HD-710 14 Passenger Cabin w/ Forward and Aft Lav EU-OPS1 Subpart K & L Compliant CPDLC FANS 1/A & ATN

GulfstreamŽ 5CNGU CPF CESWKUKVKQP GZRGTVU *CIGTV[ ,GV )TQWR KU C DWUKPGUU CKTETCHV DTQMGTCIG ƒTO RTQXKFKPI CKTETCHV UCNGU OCTMGVKPI CPF CESWKUKVKQP UGTXKEGU VQ NCTIG EQTRQTCVKQPU CPF JKIJ PGV YQTVJ KPFKXKFWCNU (QWPFGF D[ XGVGTCP )WNHUVTGCO 5RGEKCNKUV ,COGU *CIGTV[ VJG ƒTO KU NQECVGF KP 5CXCPPCJ )GQTIKC EQPXGPKGPVN[ PGCT )WNHUVTGCOŨU JGCFSWCTVGTU

100 Bull Street, Suite 200 - Savannah, Georgia 31401 - +1.912.236.8500 - hagertyjetgroup.com - THE GULFSTREAMÂŽ EXPERTS

AircraftPer&SpecJan16.qxp_PerfspecDecember06 15/12/2015 17:02 Page 2

DAS SAU LT F ALC ON 200 0LX S DAS SAU LT F ALC ON 200 0S

DAS SAU LT F ALC ON 200 0EX EAS y DAS SAU LT F ALC ON 200 0LX

DAS SAU LT F ALC ON 200 0DX DAS SAU LT F ALC ON 200 0EX

DAS SAU LT F ALC ON 200 0

BOM BAR DIER

GLO BAL 600 0

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

$5,149.70

$3,888.61

$3,170.38

$3,273.92

$3,150.95

$3,089.71

$3,089.71

$3,149.57

CABIN HEIGHT FT.

6.25

6.2

6.2

6.2

6.2

6.2

6.2

6.2

CABIN WIDTH FT.

8.17

7.7

7.7

7.7

7.7

7.7

7.7

7.7

CABIN LENGTH FT.

48.35

31.2

31.2

31.2

31.2

31.2

31.2

31.2

CABIN VOLUME CU.FT.

2002

1028

1028

1028

1028

1028

1028

1028

DOOR HEIGHT FT.

6.17

5.64

5.64

5.64

5.64

5.63

5.64

5.64

DOOR WIDTH FT.

3

2.63

2.63

2.63

2.64

2.64

2.63

2.63

BAGGAGE VOL. INT. CU.FT.

195

134

131

131

131

131

131

131

BAGGAGE VOL. EXT. CU.FT.

-

-

-

-

-

-

-

-

CREW #

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

13

10

10

10

10

10

10

10

MTOW LBS

99500

35800

41000

42200

42200

42800

42800

41000

MLW LBS

78600

33000

39300

39300

39300

39300

39300

39300

B.O.W. W/CREW LBS

52230

22750

23190

23190

23190

24750

24750

24750

USEABLE FUEL LBS

44716

12155

14600

16660

16660

16660

16660

14600

PAYLOAD WITH FULL FUEL LBS

2804

1095

3410

2550

2550

1590

1590

1850

MAX. PAYLOAD LBS

5770

5910

6510

6510

6510

4950

4950

4950

RANGE - SEATS FULL N.M.

5890

2841

3378

3878

3878

3970

3970

3385

MAX. RANGE N.M. (4 PAX)

6390

3213

3425

3912

3912

4095

4065

3601

BALANCED FIELD LENGTH FT.

6476

5440

5300

5585

5585

6050

4920

4535

LANDING DIST. (FACTORED) FT.

3667

4333

4333

4333

4333

4484

3384

3834

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

3300

3730

4575

4375

4375

4350

4310

4535

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

474

377

490

490

490

490

565

625

MAX. CRUISE SPEED KTAS

511

475

482

482

482

482

482

482

NORMAL CRUISE SPEED KTAS

488

459

459

459

459

453

453

453

L/RANGE CRUISE SPEED KTAS

471

430

442

442

442

441

441

437

2

2

2

2

2

2

2

2

BR 710-A2-20

CFE 738-1-1B

PW308C

PW308C

PW308C

PW308C

PW308C

PW308C

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

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

92

AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

Aircraft Index see Page 145

!

Charlie Bravo December.qxp_Layout 1 16/11/2015 16:15 Page 1

AircraftPer&SpecJan16.qxp_PerfspecDecember06 15/12/2015 17:03 Page 3

DAS SAU LT F ALC ON 8X

DAS SAU LT F ALC ON 7X

DAS SAU LT F ALC ON 900 EX E ASy DAS SAU LT F ALC ON 900 LX

DAS SAU LT F ALC ON 900 EX

DAS SAU LT F ALC ON 900 DX

DAS SAU LT F ALC ON 900 C

DAS SAU LT F ALC ON 900 B

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

$4,239.02

$4,037.92

$3,796.69

$4,073.03

$3,745.32

$3,587.50

$3,849.79

$3,803.75

CABIN HEIGHT FT.

6.2

6.2

6.2

6.2

6.2

6.2

6.2

6.2

CABIN WIDTH FT.

7.7

7.7

7.7

7.7

7.7

7.7

7.7

7.7

CABIN LENGTH FT.

33.2

33.2

33.2

33.2

33.2

33.2

39.1

42.7

CABIN VOLUME CU.FT.

1270

1270

1270

1270

1270

1270

1506

1695

DOOR HEIGHT FT.

5.7

5.7

5.6

5.6

5.6

5.6

5.64

5.64

DOOR WIDTH FT.

2.7

2.7

2.6

2.6

2.6

2.6

2.63

2.63

BAGGAGE VOL. INT. CU.FT.

127

127

127

127

127

127

140

140

BAGGAGE VOL. EXT. CU.FT.

-

-

-

-

-

-

-

-

CREW #

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

12

12

12

12

12

12

12

12

MTOW LBS

45500

45500

46700

48300

49000

49000

70000

73000

MLW LBS

42000

42000

42200

44500

44500

44500

62400

62400

B.O.W. W/CREW LBS

25275

25275

25800

24700

24700

26400

36600

36100

USEABLE FUEL LBS

19165

19165

18830

21000

21000

21000

31940

34900

PAYLOAD WITH FULL FUEL LBS

1260

1260

2270

2800

3500

1800

1660

2200

MAX. PAYLOAD LBS

2945

2945

5064

6164

6164

4464

4400

4900

RANGE - SEATS FULL N.M.

3450

3450

4100

4500

4500

4800

5490

6290

MAX. RANGE N.M. (4 PAX)

4000

4000

4050

4630

4630

4750

5803

6450

BALANCED FIELD LENGTH FT.

5144

5144

4890

5215

5215

5215

5600

5820

LANDING DIST. (FACTORED) FT.

3633

3633

3633

3750

3750

3833

3591

3591

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

3755

3755

3880

3880

3880

3880

-

-

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

645

645

796

755

703

703

615

-

MAX. CRUISE SPEED KTAS

500

500

482

482

482

482

-

-

NORMAL CRUISE SPEED KTAS

466

466

459

459

459

459

488

488

L/RANGE CRUISE SPEED KTAS

428

428

430

430

430

430

459

459

3

3

3

3

3

3

3

3

TFE 731-60

TFE 731-60

TFE 731-60

TFE 731-60

PW307A

PW307D

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

TFE 731-5BR-1C TFE 731-5BR-1C

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.

94

AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

Aircraft Index see Page 145

!

$2,100,000

1999 BBJ AVA 3 ILA BLE

Gulfstream G550 – ‘03, ‘08, ‘12

AVA 2 ILA BLE

2002 Lear 45 #183 & #199

2000 Hawker 800XP #258459

2012 Falcon 7x

AircraftPer&SpecJan16.qxp_PerfspecDecember06 15/12/2015 17:03 Page 4

G35 0 GUL FSTR EAM

GUL FSTR EAM

G30 0

G28 0 GUL FSTR EAM

EMB RAE R LI NEA GE 1 000 E

EMB RAE R LI NEA GE 1 000

EMB RAE R LE GAC Y 65 0

EMB RAE R LE GAC Y 60 0

EMB RAE R LE GAC Y 50 0

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

$3,179.78

$3,739.73

$3,860.49

$5,827.15

$5,827.32

$3,162.73

$4,851.87

$4,749.21

CABIN HEIGHT FT.

6

6

6

6.58

6.58

6.25

6.2

6.2

CABIN WIDTH FT.

6.83

6.92

6.92

8.75

8.75

7.2

7.3

7.3

CABIN LENGTH FT.

27.5

49.8

49.8

84.32

84.32

32.25

45.1

45.1

CABIN VOLUME CU.FT.

823

1656

1656

3914

3914

888

1658

1658

DOOR HEIGHT FT.

5.22

5.6

5.6

5.97

5.97

6

5

5

DOOR WIDTH FT.

1.91

2.5

2.5

2.46

2.46

2.75

3

3

BAGGAGE VOL. INT. CU.FT.

29

286

286

323

323

34

169

169

BAGGAGE VOL. EXT. CU.FT.

126

-

-

120

120

120

-

-

CREW #

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

8

13

13

19

19

8

13

14

MTOW LBS

37919

49604

53572

120152

120152

39600

72000

70900

MLW LBS

34127

40785

44092

100972

100972

32700

66000

66000

B.O.W. W/CREW LBS

23437

30419

31217

70844

70548

24150

43700

43000

USEABLE FUEL LBS

13058

18170

20600

48217

48217

14600

26700

25807

PAYLOAD WITH FULL FUEL LBS

1600

1169

1909

1530

1826

1000

2000

2493

MAX. PAYLOAD LBS

3062

4855

4938

9625

9921

4050

5300

6000

RANGE - SEATS FULL N.M.

3027

3091

3661

4198

4242

3590

3486

3680

MAX. RANGE N.M. (4 PAX)

3125

3429

3919

4554

4602

3400

3774

3846

BALANCED FIELD LENGTH FT.

4084

5440

5840

6076

6076

4800

4700

5065

LANDING DIST. (FACTORED) FT.

2114

3835

3910

3402

3402

5083

4417

4417

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

3866

2639

3022

2464

2464

5000

3805

3960

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

891

761

757

720

720

844

767

736

MAX. CRUISE SPEED KTAS

467

455

459

472

471

482

500

500

NORMAL CRUISE SPEED KTAS

447

447

447

459

459

470

476

476

L/RANGE CRUISE SPEED KTAS

440

424

425

455

-

459

445

445

2

2

2

2

2

2

2

2

HTF7500E

AE 3007A1E

AE 3007A2

CF34-10E7-B

CF34-10E7-B

HTF 7250G

TAY 611-8

TAY 611-8C

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

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

96

AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

Aircraft Index see Page 145

!

ACS November.qxp_Layout 1 20/10/2015 15:11 Page 1

ACS Aircraft Sales As part of the Air Charter Service Group, ACS Aircraft Sales can draw upon the company’s global reach and its local contacts. We pride ourselves in our high levels of personalised service and have 20 offices around the world.

Serial Number 2312 Registration G-CEYO Year of Manufacture 1990 Total Hours 7,403 Location UK Price POA Serial Number 1902 Registration G-DOIT Year of Manufacture 1986 Total Hours 8,271 Location UK Price POA

Email: aircraftsales@aircharterservice.com Tel: +44 (0) 20 8339 8598

AircraftPer&SpecJan16.qxp_PerfspecDecember06 16/12/2015 11:37 Page 5

G65 0ER

$4,854.96

$5,040.31

$4,747.16

$5,310.14

$4,697.23

$4,731.05

$4,843.16

-

CABIN HEIGHT FT.

6.2

6.2

6.2

6.2

6.2

6.2

6.4

6.4

CABIN WIDTH FT.

7.3

7.3

7.3

7.3

7.3

7.3

8.5

8.5

CABIN LENGTH FT.

45.1

45.1

45.1

50.1

50.1

50.1

53.6

53.6

CABIN VOLUME CU.FT.

1658

1658

1658

1595

1812

1812

2421

2421

DOOR HEIGHT FT.

5

5

5

5

5

5

6.28

6.28

DOOR WIDTH FT.

3

3

3

3

3

3

3

3

BAGGAGE VOL. INT. CU.FT.

169

169

169

226

226

226

195

195

BAGGAGE VOL. EXT. CU.FT.

-

-

-

-

-

-

-

-

CREW #

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

13

13

14

13

18

18

18

18

MTOW LBS

74600

74600

74600

90500

85100

91000

99600

103600

MLW LBS

66000

66000

66000

75300

75300

75300

83500

83500

B.O.W. W/CREW LBS

43700

43700

43000

48400

47900

47900

54000

54000

USEABLE FUEL LBS

29281

29281

29281

41000

34940

41000

44200

48200

PAYLOAD WITH FULL FUEL LBS

2019

2019

2719

1500

2660

2500

1800

1800

MAX. PAYLOAD LBS

5300

5300

6000

6100

6600

6600

6500

6500

RANGE - SEATS FULL N.M.

3880

3880

4070

6250

5620

6360

6520

7095

MAX. RANGE N.M. (4 PAX)

4136

4136

4363

6500

5910

6820

7000

7488

BALANCED FIELD LENGTH FT.

5700

5700

5615

6200

5385

6170

6285

6765

LANDING DIST. (FACTORED) FT.

4417

4458

4417

3750

3667

3667

4167

4167

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

3640

3640

3760

3610

3950

3650

3570

-

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

701

701

712

820

707

594

467

-

MAX. CRUISE SPEED KTAS

500

500

500

508

508

508

516

516

NORMAL CRUISE SPEED KTAS

476

476

476

488

488

488

-

-

L/RANGE CRUISE SPEED KTAS

445

445

445

459

459

459

488

488

2

2

2

2

2

2

2

2

TAY 611-8

TAY 611-8

TAY 611-8C

BR 710-A1-10

BR 710-C4-11

BR 710-C4-11

BR 725 A1-12

BR 725 A1-12

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

GUL FSTR EAM

GUL FSTR EAM

GUL FSTR EAM

G65 0

G55 0

G50 0 GUL FSTR EAM

GUL FSTR EAM

GV

G45 0 GUL FSTR EAM

G IV GUL FSTR EAM

GUL FSTR EAM

G40 0

SP

FLIGHT DEPARTMENT ❚ SPECIFICATIONS

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

98

AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

Aircraft Index see Page 145

❚

Corporate Concepts 2 January.qxp 16/12/2015 12:18 Page 1

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Fernando Garcia +52 55 54077686

Dennis Blackburn +1 832 647 7581

AirCompAnalysis Jan16.qxp_ACAn 15/12/2015 14:43 Page 1

FLIGHT DEPARTMENT ❚ AIRCRAFT COMPARATIVE

Aircraft Comparative Analysis: Gulfstream G550

In this month’s Aircraft Comparative Analysis, Mike Chase provides information on two popular business jets for the purpose of valuing the Gulfstream G550. The field in this comparative study includes Dassault’s Falcon 7X business jet.

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

100

ver the following paragraphs, we’ll consider productivity parameters (payload/range, speed and cabin size) and cover current and future market values for the Gulfstream G550. According to Vref, a 2015 G550 has a list price of $52m.

The Gulfstream G550 traces its roots to the Gulfstream GV, which was the first ultra-long-range largecabin business jet produced at the time of its first delivery to customers in 1995. Most notable about the GV is its 6,500nm range, made possible (in part) by the BR710A1-10 engines that power it. The GV’s range makes it capable of non-stop flight from New York to Tokyo.

Features on the GV include enhanced weather radar, autopilot and head-up display for the pilot. Safety features included the first Enhanced Vision Systems (EVS), which allow increased visibility in adverse environments.

AVBUYER MAGAZINE – January 2016

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The aircraft is also fitted with commercial and military communications equipment to provide secure voice and data capability.

Two new aircraft followed the GV, the Gulfstream G550 in 2003 and the G500 in 2004. The G550 relinquished its title as the top-end of Gulfstream’s in-service product line with Gulfstream G650 deliveries that began at the end of 2012.

Today there are 480 wholly-owned Gulfstream G550 aircraft in operation worldwide, an additional eight G550s in shared ownership and 14 in fractional ownership (combined total of 502 units). About one-fifth (102 units totalling 20.3%) of the G550s in operation are leased, according to JETNET. The G550 fleet is widely spread around the globe.

North America has the largest fleet percentage at 58%, followed by Asia (23%) and Europe (13%), for a combined total of 94%.

Aircraft Index see Page 145

!

AirCompAnalysis Jan16.qxp_ACAn 15/12/2015 14:44 Page 2

FLIGHT DEPARTMENT ❚ AIRCRAFT COMPARATIVE

Payload & Range

Table A - Payload & Range MTOW (lb)

Max Fuel (lb)

Fuel Usage (GPH)

Max Payload (lb)

Avail Payload w/Max Fuel (lb)

Gulfstream G550

91,000

41,000

402

6,600

2,500

6,820

6,328

Falcon 7X

70,000

31,940

347

4,400

1,660

5,803

5,353

Model

Max Fuel Range (nm) 4 Pax

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

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

Data contained in Table A (left) are sourced from Conklin & de Decker, and also published in the May 2015 issue of B/CA. As we have mentioned in past articles, a potential operator should focus on payload capability as a key factor. The G550’s ‘Available payload with Maximum Fuel’ (2,500 lbs) is more than the Falcon 7X’s (1,660 lbs).

In addition, Table A shows the fuel usage by each aircraft in this field of study. The Gulfstream G550 burns more at 402 gallons per hour (GPH) than the Falcon 7X (347 GPH) according to data sourced from Aircraft Cost Calculator.

Cabin Cross-Sections

According to Conklin & de Decker, the G550 cabin volume is 1,812 cubic feet and its cabin length is 50.1 ft. The Falcon 7X is smaller in cabin volume (1,506 cu. ft.) and shorter in length at 39.1 ft. The Layout of Passenger Accommodations (LOPA) comparison can be viewed in the online version of this article at www.avbuyer.com.

Chart A, left (courtesy of UPCAST JETBOOK), shows the side-by-side comparisons. The two aircraft share cabin height dimensions (6.2ft), while the Falcon 7X is wider at 7.7ft versus a 7.3ft width for the G550.

Source: UPCAST JETBOOK

Chart B - Range Comparison Gulfstream G550 Dassault Falcon 7X

Range Comparison

6327.75 Nm 5352.75 Nm

As depicted by Chart B (left) and using Wichita, Kansas as the origin point, the G550 shows considerably more range coverage than the Falcon 7X, as sourced from Aircraft Cost Calculator (ACC).

Note: For jets and turboprops, ‘Seats-Full Range’ represents the maximum IFR range of the aircraft at Long-Range Cruise with all passenger seats occupied. ACC assumes NBAA IFR fuel reserve calculation for a 200nm alternate.

The lines depicted do not include winds aloft or any other weatherrelated obstacles.

Powerplant Details Source: Aircraft Cost Calculator

102

AVBUYER MAGAZINE – January 2016

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The G550 is powered by two Rolls-Royce BR710-C4-11 Aircraft Index see Page 145

AirCompAnalysis Jan16.qxp_ACAn 15/12/2015 14:45 Page 3

Chart C - Cost Per Mile

engines, each with a thrust rating of 15,385 pounds. The Falcon 7X business jet is powered by three Pratt & Whitney Canada PW307A engines each offering 6,402 pounds thrust.

US $ per nautical mile $0.00

Cost Per Mile

Using data published in the May 2015 B&CA Planning and Purchasing Handbook and the August 2015 B&CA Operations Planning Guide, we will compare our aircraft. The nationwide average Jet-A fuel cost used from the August 2015 edition was $5.25 per gallon at press time, so for the sake of comparison we’ll chart the numbers as published.

Note: Fuel price used from this source does not represent an average price for the year.

Chart C (top, right) details ‘Cost per Mile’ and compares the G550 to its competition, factoring direct costs with each aircraft flying a 1,000nm mission with a 1,600 pound (eight passengers) payload. The G550 shows the highest cost per nautical mile at $6.04 compared to $5.33 for the Falcon 7X. This is a difference of 71 cents, or 13.3% cost per nautical mile.

$2.00

$4.00

$6.00

Q $6.04 Q $5.33 Q

Gulfstream G550 Falcon 7X

* 1,000nm Mission costs, 1,600lbs Payload

Chart D - Variable Cost US $ per hour $0

$2,000

$1,000

Gulfstream G550

The ‘Total Variable Cost’ illustrated in Chart D (right) is defined as the Cost of Fuel Expense, Maintenance Labor Expense, Scheduled Parts Expense and Miscellaneous Trip Expense. The Total Variable Cost for the G550 computes at $2,737 per hour, which is 17.2% more than the Falcon 7X at $2,336 per hour to operate.

Q $2,737

Q $2,336

Falcon 7X

Total Variable Cost

$

$3,000

Table B - Comparison Tables

Aircraft Comparison Table

Table B (right) contains the preowned 2008-model prices from Vref Pricing Guide for each aircraft. The average speed, cabin volume and maximum payload values are from Conklin & de Decker and Aircraft Cost Calculator, while the number of aircraft in-operation and percentage ‘For Sale’ are as reported by JETNET. The G550 has 6.2% of its fleet currently ‘For Sale’ and the Falcon 7X has 8.5% for sale.

Advertising Enquiries see Page 4

Long Range Speed (kts)

Cabin Volume (cu ft.)

Max Payload w/avail fuel range (nm)

Used Used Vref Price US$m $m2008

In-Operation

% For Sale

New & Pre-owned Sold*

Gulfstream G550 GV

459

1,812 1595

6,328 5,416

$16.5 ‘02 $30.250

502 191

6.2% 12.0%

6.9 20

Falcon 7X

459

1,506 1506

5,000 5,353

$25.0 ‘07 $23.000

246 236

8.5% 9.3%

2.3 36

Model

*Avg Pre-owned Full Sales Transactions in the past 12 months; Data courtesy of Conklin & de Decker; JETNET; Vref

! www.AVBUYER.com

January 2016 – AVBUYER MAGAZINE

103

AirCompAnalysis Jan16.qxp_ACAn 15/12/2015 14:46 Page 4

FLIGHT DEPARTMENT ❚ AIRCRAFT COMPARATIVE

Table C - MACRS Depreciation Schedule MACRS SCHEDULE FOR PART 91 Year Deduction

1

2

3

4

5

6

-

-

20.00 %

32.00 %

19.20 %

11.52 %

11.52 %

5.76 %

-

-

1

2

3

4

5

6

7

8

14.29 %

24.49 %

17.49 %

12.49 %

8.93 %

8.92 %

8.93 %

4.46 %

MACRS SCHEDULE FOR PART 135 Year Deduction

Source: NBAA

Asking Prices vs Age, Airframe Total Time & Quantity

Table D - Part 91 & 135 MACRS Schedule 2015 GULFSTREAM G550 - PRIVATE (PART 91) Full Retail Price - Million

$52

Year

1

2

3

4

5

6

20.00 %

32.00 %

19.2 %

11.5 %

11.5 %

5.8 %

Depreciation ($M)

$10.4

16.6

10.0

6.0

6.0

3.0

Depreciation Value ($M)

$41.6

25.0

15.0

9.0

3.0

0

Cum. Depreciation ($M)

$10.4

27.0

37.0

43.0

49.0

52.0

Full Retail Price - Million

$52

Rate (%)

2015 GULFSTREAM G550 - CHARTER (PART 135) Year

1

2

3

4

5

6

7

8

14.3 %

24.5 %

17.5 %

12.5 %

8.9 %

8.9 %

8.9 %

4.5 %

Depreciation ($M)

$7.43

12.73

9.09

6.49

4.64

4.64

4.64

2.32

Depreciation Value ($M)

$44.57

31.83

22.74

16.24

11.60

6.96

2.32

0.00

Cum. Depreciation ($M)

$7.4

20.2

29.3

35.8

40.4

45.0

49.7

52.0

Rate (%)

Source: Vref

The average number of new deliveries and pre-owned transactions per month is higher at 6.9 per month for the G550 than the Falcon 7X (2.3 per month), as shown in the last column of the table.

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

104

AVBUYER MAGAZINE – January 2016

taking a greater percentage of the deductions during the first few years of the applicable recovery period (see Table C, above).

In certain cases, aircraft may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS) where depreciation is based on a straight-line 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 recov-

erally depreciated under MACRS over a period of five years or by using ADS with a six year recovery period. There are certain uses of the aircraft, such as non-business flights, that may have an impact on the allowable depreciation deduction available in a given year.

Table D (middle, left) depicts an example of using the MACRS schedule for a 2015 G550 aircraft in private (Part 91) and charter (Part 135) operations over five and seven-year periods, assuming a used retail value of $52m, per Vref’s Pricing guide.

ery periods available under MACRS. There are a variety of factors that taxpayers must consider in determining if an aircraft may be depreciated, and if so, the correct depreciation method and recovery period that should be utilized.

For example, aircraft used in charter service (i.e. Part 135) are normally depreciated under MACRS over a seven year recovery period or under ADS using a twelve year recovery period.

Aircraft used for qualified business purposes, such as Part 91 business-use flights, are gen-

www.AVBUYER.com

Chart E (top, right), sourced from the Multi-dimensional Economic Evaluators Inc. (www.meevaluators.com), shows a Value and Demand chart for the pre-owned Gulfstream G550.

The current pre-owned market for the G550 aircraft shows a total of 31 aircraft ‘For Sale’ with 17 displaying an asking price, thus we have plotted them.

We also added the pre-owned Falcon 7X business jet in our study group with asking prices ranging from $23m-43m. The equation that we derived from these asking prices and other criteria used should enable sellers and buyers to compare, and perhaps adjust their offerings, if necessary.

While each serial number is unique, the Airframe time/hours (AFTT) and age/condition will cause great variations in price.

For example, in Table E (middle right) are four 2003-model G550s listed ’For Sale’ with AFTT hours ranging from 1,392-6,686. Two have ‘asking prices’ and two encourage prospective buyers to ‘make offer’.

Here, we aim to determine how to use the demand curve for a) the two G550s with asking prices, and b) the two G550s with the ‘make offer’ label to gain a useful predictive asking price.

Productivity Comparisons

The points in Chart F (bottom, right) are centered on the same

Aircraft Index see Page 145

AirCompAnalysis Jan16.qxp_ACAn 15/12/2015 14:47 Page 5

Others may choose different parameters, but serious business aircraft buyers are usually impressed with Price, Range, Speed and Cabin Size. After consideration of the Price, Range, Speed and Cabin Size, we can conclude that the G550 displays a high level of productivity.

Popular attributes of the G550 are a larger cabin volume compared to the Falcon 7X. It also has greater payload capability and range, however price and costs per mile and per hour are higher for the G550. 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 performance, and time to climb that might factor in a buying decision, however.

The Gulfstream G550 continues to be very popular today.

Those operators in the market should find the preceding comparison useful. Our expectations are that the Gulfstream G550, which started delivering in 2003, will continue to do very well in the pre-owned markets for the foreseeable future.

Nevertheless, we recommend buyers and sellers pay close attention to the market, and in particular any market displacement of the G550 as a knock-on effect of the Gulfstream G500 and G600 with are expected to deliver in 2018 and 2019 respectively. ❚ Advertising Enquiries see Page 4

Chart E - Value & Demand

A Study of Pre-owned Gulfstream G550 Compared to the Falcon 7X Business Jet

Y

C 11

M 5

‘02

0

$

1* See Footnote 2

$ 1

* See Footnote

‘07

Underpriced by ~$1m Overpriced by ~$5m

* Demand and Value are on opposite sides of the same price axis. Thus, the market for a used G550/ Falcon 7X responds to a least four features: Years, Airframe Total Time (AFTT), Quantity and Asking Prices.

Table E - Predictive Ask Prices Long Range Year of Speed (kts) Manufacture

Cabin AFTT Volume (cu ft.)

Hours

Max Payload fuel w/avail Ask Price range (nm)

G550GV Gulfstream

459 2003

1595 1,392

‘02 5,416 05/18/15 Make Offer $16.5

191 $28.40m

* See Footnote 12.0% 20

FalconG550 7X

459 2003

1506 4,948

‘07 5,000 07/21/15 Make Offer $25.0

236 $24.00m

* See Footnote 9.3% 36

G550

2003

2,834

$24.95m

09/17/15

$25.90m

Underpriced by ~$1m

G550

2003

6,686

$28.00m

07/07/15

$23.00m

Overpriced by ~$5m

Model Model

Used Vref Price Listed $m

In-Operation Predicted

% For Sale

New & Pre-owned

CommentsSold*

Price ($m)

* Footnote: Prices are plus or minus $1.4m (1/2 standard deviation) D

Chart F - Productivity $45.0

Price (Millions)

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 (as done 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.

$30.0

2008 Gulfstream G550 2008 Falcon 7X

$15.0

$0.0 3.00

4.50

3.75

5.25

6.00

6.75

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

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January 2016 – AVBUYER MAGAZINE

105

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Community News 1 Jan16.qxp_Layout 1 15/12/2015 16:54 Page 1

COMMUNITY NEWS ❚ BIZAV REVIEW

High-Flyer’s Interview

An Insight into the Flying Habits of European Operators and Users

H

The European Business Aviation scene is complex at this time.

Rani Singh speaks with Bjorn Naberhuis, VP Business Development and Hardy Sohanpal, Sales Director, Middle East/Africa at Global Jet to discuss the flying habits of European users entering 2016…

eadquartered in Geneva and with offices in Luxembourg, Vienna, Paris, Monaco, Moscow, Beijing and Hong Kong, Global Jet is well positioned to offer insight into the flying habits of Business Aviation users within Europe as we leave 2015 behind and look ahead at a New Year.

European Business Aviation has been fairly flat regarding hours flown by owners and operators in 2015. What are the hotspots – what types of destinations are still drawing the most traffic at the moment?

Bjorn: There are a number of fundamental statistics that can show the actual movement numbers, but mainly the flights tend to go from the large metropoles - the financial hearts of Europe, as well as the popular holiday destinations.

London, Paris, Nice, Berlin, Geneva, Zurich and Milan are still the places where the most traffic occurs. Overall Europe is proving a popular continent for many visitors including those flying in from the Middle East, Africa and Asia.

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AVBUYER MAGAZINE – January 2016

What are the key reasons that Europeans are using Business Aviation at this time?

Hardy: There is actually a large availability of low-cost airlines within Europe at the moment, but the larger airports have become more ‘time’ consuming to pass through, less flexible and less reliable.

Private jet travel will continue to be the most efficient way to travel for a group of executives flying in Europe, with easy access to dedicated, small, personalized airports that are investing in advanced facilities catering specifically for passenger needs, and a mantra that says ‘no schedule, just your schedule’.

Bjorn: Key drivers of Business Aviation, when compared to commercial airlines, include a combination of flexibility, privacy and the ability to personalize your space to a detailed level.

Politically connected individuals or large corporations require a high level of privacy whilst discussing business. Even business class on the airlines does not equate to complete privacy for travellers. !

www.AVBUYER.com

Aircraft Index see Page 145

Aradian May.qxp 21/09/2015 15:27 Page 1

File photo

2007 Gulfstream 150

2008 Citation Mustang

2350TT. EU Ops complaint. Satcom.

Also 2008 available

7200TT. TCAS. TAWS. XM weather. HF.

2008 Hawker 750

2013 Gulfstream 450

1900TT. Beige leather. Satcom. MSP Gold

File photo

Gulfstream 550

2002 Gulfstream 200

Several aircraft including 2013

4200TT. JSSI. EU Ops. 9 pax interior.

1996 MD900

2007 Eurocopter EC135P2+

5525TT, SP IFR, High spec.

Excellent condition.

1450TT. Beige leather interior. Single pilot IFR. Engines on ESP Gold

ALSO OFFERING: Beech King Air C90GT/C90/B200/350, Hawker 400XP, Citation XL/XLS/Sovereign, Agusta Koala, Gulfstream G100/G150, Hawker 800XP/850XP/900XP. Call/Email For Details

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Community News 1 Jan16.qxp_Layout 1 16/12/2015 12:01 Page 2

COMMUNITY NEWS ❚ BIZAV REVIEW

Security is a big advantage of using Business Aviation. What, if any, impact did the terror attacks in Europe have on European Business Aviation?

Bjorn: The recent security threats have had several impacts. First of all, airport security was raised at key locations planning flights has become more operationally-intensive and a high level of inhouse expertise is required to ensure clients’ requests are met.

It was noticeable in the past (for instance) for flights to military airports or any airport in the UK, that a passenger manifest was required ahead of the flight. Now we see France stepping up its requirements. Other countries will surely follow.

Flight routes have also been impacted with certain regions becoming more restrictive - for example, overflying places such as Ukraine, Syria, volcanic ash areas and northern parts of Africa. The limitations have a negative impact on flight times as well as adding to the overall trip cost. From an operator’s perspective, safety has always been priority number one, and goes hand-in-hand with security.

Any negative aviation-related event could have an impact on the overall industry. So we continuously adapt to the market in every way possible - not only from a security or economic perspective, but any situation that occurs around the world.

How has Business Aviation changed over the years in Europe?

Hardy: Historically, there used to be a simple correlation between GDP growth and aircraft utilization. Over the past few years this has slightly shifted as developed economies have had to adapt to the long-term impact of the financial crisis.

The fundamentals now seem to point to a correlation between the state-controlled global Quantitative Easing (QE) programs and the steady growth of longrange wide-body aircraft. In other words,

the top-end of the market has grown and may continue to do so globally as wealth is accumulated at a faster pace.

Generally in Europe supply outstrips demand and this is expected to continue. In Europe some operators with light aircraft have created businesses that appeal to a new segment that we call the ‘convertible’ market (i.e. those normally travelling First- or Business-Class on the commercial airlines now find it more cost-efficient or financially justifiable to use so called ‘air taxi’ services).

The air taxi segment is likely to grow as commercial airports continue to become busier. Overall, Europeans are generally conservative when it comes to flying large jets, since it is likely to be interpreted negatively by the general public, whereas in other places in the world, large aircraft are a necessity if you are always travelling in a large group.

So with this in mind I believe the demand for small and midsize aircraft could increase slightly in the near-term, responding to the various fragmented global economies. The heavy jet segment will remain stable globally.

Bjorn: There are many different cases we could use to show how private aviation has offered the most efficient option for the user - particularly in the case of the air-taxi solutions and empty leg platforms available to European clients.

I recall one client who had three business meetings in Europe a few times per month. These meetings – predominantly with Stock Exchange-listed companies— required face-to-face interaction.

Commercial airlines just couldn’t have accommodated the client’s timetable. It made sense to hold all the meetings in one day, to save time and make the deals. That was the flexibility offered by Business Aviation. Instead of having a High-Net-Worth CEO spending several days traveling around airline schedules, Business Aviation enabled him to travel more efficiently from an economic perspective as well as from a time perspective.

More information from www.globaljetconcept.com

!

Global Jet at a Glance 1.

2.

3.

4.

5.

Number and location of Global Jet AOCs: 3 (Luxembourg, Austria & China); Number of aircraft under management: 70 (including VIP Airbus, Falcons, Globals and Gulfstreams); Worldwide Aircraft Management capability; Dedicated Aircraft Sales team in Monaco; The company has been operating in China for over 10 years.

BJORN NABERHUIS

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.

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BUSINESS AVIATION INTELLIGENCE

Aircraft Index see Page 145

P111.qxp_Layout 1 16/12/2015 11:31 Page 1

Security. Trust. Confidence.

F900EX | S/N 012

8648 TSN, 3065 TL, MSP GOLD HUD, [T]FMS, [T]IRS, SATCOM, FDR, EASA/EU OPS 1 APPROVED 14 PAX, FWD/AFT LAV, FRESH 3C JAN/2016 F900EX S/N 012 IS REPRESENTED IN A JOINT MARKETING COLLABORATION WITH INDIGO LYON

GLOBAL 5000 | S/N 9186

A

LI

97

YEARS YEARS

19

T

B

AV I ON L

D

ES

19 R

3718 TTAF, RRCC, APU ON MSP SMART PARTS +, BATCH 3, FANS 1/1A, WAAS/LPV TCAS II 7.1, TRIPLE IRS, DUAL FMS, SATCOM, HUD, 13 PAX, FWD CREW LAV FRESH 500/1000 HR C/W DEC/2015

CJ3 | S/N 200 2430 TSN, 429 SH, TCAS II, SAT WX RADAR FDR, CVR, STORMSCOPE, GPS-4000S (WAAS) BELTED LAV, BRAVO STYLE ENTRY STEPS EU OPS 1 APPROVED

T

PA

HOUSTON: PHONE 1 . 713 . 681 . 0075 FAX 1 . 713 . 681 . 0035 sales@paravionltd.com paravionltd.com

N SHED I

GULFSTREAM IV | S/N 1046

7744 TSN, 1611/1551 SOH (2007), JSSI, ASC-190 96M c/w APRIL/2013, 14 PAX, FWD/AFT LAV, AFT GALLEY

COMING SOON: FALCON 2000LX

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AV I AT I O N C O N S U LTA N T S T O T H E W O R L D

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COMMUNITY NEWS ❚ BIZAV REVIEW

A Glance into the Future of BizAv

cover the world in 17 hours with one or two stops, “so the size of the world is two days,” said Garcia. For supersonic business aircraft to find a market, though, they have to meet several challenges. They must:

How far off is the Supersonic Business Jet?

• • • •

Aerion announced its first firm order for the AS2 at the recent NBAA Convention, bringing the supersonic business jet closer to reality. Now, some experts think the supersonic age is set to take off.

“This time, what we have is real – I believe we will see a supersonic business jet by 2023,” says Oscar Garcia, chairman of InterFlight Global Corporation, estimating 40 to 100 letters of intent for the AS2 have been received, including the 20-unit order from Flexjet announced at NBAA. Off and on for 20 years, manufacturers such as Gulfstream, Sukhoi and Dassault have attempted to move supersonic aircraft past the design stage, but none have taken over from the Concorde since 2003. Today, Garcia and the engineers at Aerion, with their partners at Airbus, are bullish because of developments in laminar flow wings and ramjet engines.

•

Shrinking the World

With today’s fastest, ultra-long-range business aircraft a flight from Los Angeles to Tokyo takes 12 hours. Those airplanes could cover the world in four days. “So, the size of the world is four days,” says Garcia.

As the Honeywell Global Business Aviation Outlook (analysed on p36) revealed, demand for ultra-high-speed, ultra-long-range aircraft continues to outpace other categories. “What buyers want is minimal time on the aircraft and more time at their destination,” notes Garcia.

At supersonic speeds, approaching Mach 2, an aircraft could

Be capable of long range and ultra-long-range missions; Take off and land with conventional engines below 60,000 ft; Produce no noticeable sonic boom over land; Receive certification from the FAA and other civil aviation authorities; and Produce an environmental footprint not too different from the latest business aircraft.

The environmental footprint is key, explains Garcia, especially in terms of noise and emissions. “We cannot have a breakthrough with speed at the expense of all the other breakthroughs we, as an industry, have worked so hard to achieve.” Supersonic aircraft will have to be compliant with Stage 4 noise standards.

Hypersonic/The Edge of Space

While supersonic business airplanes may be a reality soon, there’s nothing today that achieves hypersonic speeds, of Mach 2 to 5, although Garcia predicts that in 10 to 15 years, there might be.

The challenges for hypersonic travel are greater, with no engine yet invented, except those used by the military, to power those speeds. Such an aircraft would fly at the edge of space, in “airspace that no civil aviation authority yet understands,” and have serious cabin pressure issues.

Garcia also predicted that by 2050, a sub-orbital business aircraft might be feasible, possibly modelled on Virgin Galactic’s Space Ship Two or the EADS Space Plane, that could travel anywhere on earth in two hours.

“Supersonic, hypersonic and suborbital commercial air travel will begin with business aircraft,” said Garcia. It makes sense.

Many users say a business airplane is like a time machine, and “people can buy anything but time”.

More from www.interflightglobal.com

!

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Aircraft Index see Page 145

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Community News 1 Jan16.qxp_Layout 1 15/12/2015 16:58 Page 4

COMMUNITY NEWS ❚ BIZAV REVIEW

HondaJet Makes History

OEM Bites Nextant has received FAA certification approval for its G90XT remanufacture of the C90 series Beechcraft King Air. The twin turboprop features a number of improvements including GE H75-100 engines, the Regent integrated digital flight deck based on the Garmin G1000 flight deck, a new interior with a new acoustics package, digital pressurization control and new environmental control with 300 percent better cooling. www.nextantaerospace.com

The $4.5 million seven-seat HondaJet received type certification from the Federal Aviation Administration (FAA) on December 8th. The company was in celebratory mood ahead of first deliveries...

“Achieving FAA type certification for the HondaJet is a monumental milestone for Honda, said President and CEO Michimasa Fujino. “We established Honda Aircraft as a new aerospace company and introduced our first product, an advanced light jet with technologies developed from

serious research activities. We designed, tested, and have now certified this cleansheet design aircraft, an unprecedented challenge for Honda.”

Honda Aircraft Company validated the HondaJet’s performance, safety, function and reliability through rigorous ground and flight tests with the FAA. Total flight hours exceeded 3,000, with testing conducted at more than 70 locations across the United States.

The HondaJet’s innovative Over-TheWing Engine Mount configuration, naturallaminar flow wing and composite fuselage make it a higher performance, more fuelefficient and more spacious light jet. The HondaJet is the fastest in its class at 420 knots (483 mph), and Honda is marketing its aircraft as being lighter, faster, and more fuel-efficient than aircraft in the same category.

With HondaJet FAA type certification achieved, Honda is now ramping up production and 25 aircraft are on the final assembly line, as the company prepares for deliveries, pilot training and after-sales customer service and support. Some market sources suggest that the order book exceeds 100 for the aircraft.

More information from www.HondaJet.com

One Aviation received an order for 20 of its Eclipse 550 very light jets worth roughly $60m as part of a recent dealership agreement with Jinggong General Aviation in China. Deliveries will extend over several years as One Aviation and Jinggong work to obtain Chinese certification and build up sales, training and support networks in China. www.oneaviation.aero Pilatus announced the first flight of its second PC-24 jet prototype from the company's headquarters in Stans, Switzerland. P02 is one of three test aircraft that will be used in the new jet’s certification program that is expected to last into 2017. The first test aircraft flew in May. A third test aircraft will be used for function and reliability testing and will join the program shortly. www.pilatus-aircraft.com !

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Aircraft Index see Page 145

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Community News 1 Jan16.qxp_Layout 1 15/12/2015 15:07 Page 5

COMMUNITY NEWS ❚ BIZAV REVIEW

People In Aviation Carlos Gomez

Ken Goodman

Doug Alleman is named vice president, customer service and Mike Minchow vice president, sales at Duncan Aviation.

Julio Casas has been appointed by Air BP as its new North America General Aviation director and will be based at the company’s American headquarters in Chicago, IL. Carlos Gomez is the new managing director of TAG Aviation España.

Aoife O’Sullivan

Keith Ruggirello

in Mayfair, London, The Air Law Firm is currently building an international network of trusted legal aviation experts whose core interests will be to support the industry in a collaborative way.

Bill Ross is named VP, Product Support at Superior Air Parts, a leading provider of outstanding products and service to General Aviation.

Ken Goodman joined Jet Support Services, Inc. (JSSI) as its new chief financial officer recently.

Keith Ruggirello has joined ExcelAire as senior vice president, sales and marketing. He previously served as vice president of management sales at Priester Aviation.

Aaron Hilkemann, Duncan Aviation’s president and CEO has been named chairman of the General Aviation Manufacturers Association (GAMA), taking over from Hartzell president Joe Brown.

Tom Schmutz has been named CEO at FLYHT Aerospace Solutions, replacing Bill Tempany who has retired from his role as CEO, but will remain as chairman of the board.

Aoife O'Sullivan left Kennedys law firm recently to set up The Air Law Firm, an enterprise, dedicated to the aviation industry. Based

Michelle Stone is the new director, marketing at Aerospace Technologies Group. She previously spent 17 years with B/E Aerospace, including as director, corporate marketing. ❚

BizAv Events 2016 NBAA: Schedulers & Dispatchers Conference US Sport Aviation Expo AEA Connect Europe NBAA: Regional Forum 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)

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Tampa, FL, USA Sebring, FL, USA Cologne, Germany West Palm Beach, FL, USA London, UK Boca Raton, FL, USA Changi Center, Singapore San Antonio, TX, USA Louisville, Ky, USA Abu Dhabi, UAE London, UK Nashville, TN, USA Hyderabad, India Dubai, UAE San Diego, CA, USA Lagos, Nigeria Santiago, Chile Lakeland, FL, USA Shanghai, China Munich, Germany Scottsdale, AZ, USA Friedrichshafen, Germany Orlando, FL, USA Kansas City, MO, USA Washington, DC, USA Fort Lauderdale, FL, USA Crocus Expo Moscow, Russia Geneva, Switzerland

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www.nbaa.org www.sportaviationexpo.com www.aea.net www.nbaa.org 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 Aircraft Index see Page 145

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“We became a top-performing aircraft brokerage by building strong relationships and providing our clients the most complete, real-time market information available.”

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Jet Sense Aviation, LLC Challenger 300 January.qxp_Empyrean 17/12/2015 11:05 Page 1

S H O W C A S E

2007 Challenger 300 Serial Number: Registration: Airframe TT: Landings:

20149 N377RA 2,002 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: 2002 - MSP Gold.

Cycles: 1006 R SN: P118391. TT: 2002 - 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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AVBUYER MAGAZINE – January 2016

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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 145

Jet Sense Aviation, LLC Lear 40XR December.qxp_Empyrean 17/12/2015 11:07 Page 1

S H O W C A S E

2007 Lear 40XR Serial Number: Registration: Airframe TT: Landings:

45-2071 N550VT 1,603 1,606

Engines Honeywell TFE 731-20BR-1B Left Engine Hours: 1,603 - MSP GOLD Cycles: 1,606 Right Engine Hours: 1,603 - MSP GOLD Cycles: 1,606 Avionics TCAS: FMS: HF:

TCAS II Dual Universal UNS 1E Honeywell KHF 950 W/SELCAL Air Date Computers: Dual AZ-850 AHRS Computers: Dual AHZ-800 Auto Pilot Computers: Dual IC-600 Navigation Units: Dual Honeywell RNZ-851 Communications Units: Dual Honeywell RCZ-833 Digital Acquisition Units: Dual Honeywell 800 EFIS: Four-Tube DU-870 EFIS/MFD with 7"x8" Displays EICAS: Yes Radar: Honeywell Primus WU660 w/ Color Altimeter: RT-300 EGPWS: Honeywell Mark V Cockpit Voice Recorder: Honeywell CVR ELT: Artex C406-2 MHz w/ Nav Interface

Features SMART PARTS + Dual UNS 1E's ridium ICS-100 SATCOM Phone Belted Lav R.V.S.M. Capable Fwd and Aft 10.4" Monitors (LCD) Airshow 410 Cabin Entertainment System (10 disc CD changer, DVD Player) Interior Six (6) passenger seats and one (1) belted lavatory seat. Cabin features six executive club seats with four executive fold-out tables. Forward galley and the standard lavatory is located aft of the main cabin. External baggage compartment Exterior NEW 2015 Maintenance Phase A,B,C,D and 96/m c/w May 2015 Price of $2,950,000

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 January.qxp_Empyrean 17/12/2015 11:37 Page 1

S H O W C A S E

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 145

Jet Sense Aviation, LLC Lear 60XR sn 60-319 January.qxp_Empyrean 17/12/2015 11:08 Page 1

S H O W C A S E

Price Reduced to $3,875,000 2007 Lear 60XR Serial Number: Registration: Airframe TT: Landings:

319 N814TS 4,925 3,434

Engines LEFT ENGINE: P & WC 305A. S/N: CA0497 Hours: 4835. Cycles: 3367 RIGHT ENGINE: P & WC 305A. S/N: CA0496 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 Bombardier Completion Center, Wichita, Kansas September 2007. 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 threeplace 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 ! SONY cabin entertainment system (10 disc C.D. changer, Dual Sony DVD player)

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 17/12/2015 11:10 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 145

Jet Sense Aviation, LLC Premier 1A January.qxp_Empyrean 17/12/2015 11:11 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

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3 Global Jet dps January.qxp 16/12/2015 10:35 Page 1

S H O W C A S E

Boeing 737-800 / BBJ2 ASKING PRICE: $37,5M Serial Number: Registration:

32777 OE-ILX

Airframe TT: Landings:

4221 1704

· 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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Aircraft Index see Page 145

3 Global Jet dps January.qxp 16/12/2015 10:35 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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JetPro Texas Beechcraft 900XP January.qxp_Heeren Cit Ultra sep 17/12/2015 09:44 Page 1

S H O W C A S E

Price $5,199,000 2008 Hawker Beechcraft 900XP Serial Number: Registration:

Airframe TT: Landings:

HA-32 N762JP

3,500 3,267

• MSP Gold on Engines and APU • Fresh 12 to 96 Month Inspections 11/15

by HBC-ICT • Buyer may pick stripe colors for a limited time.

• Trades welcome. Priced aggressively.

Engines Honeywell TFE731-50R-1H (4,660 lbs of thrust each) – Enrolled on Honeywell’s MSP Gold Left: P122169 3,500 Total Time 3,267 Cycles Right: P122168 3,500 Total Time 3,267 Cycles APU AHoneywell GTCP36-150(W): 5,120 Total Hours on Honeywell’s MSP Gold Avionics Collins Proline 21 Avionics System includes: Four Tube Collins AFD-3010 with 7” X 8” Dual Collins FMC-6000 Flight Mgmt. System Dual Collins CDU-6200 Control Display Units Dual Collins FGC-3000 Flight Guidance Computers Dual CollinsVHF-4000 Com Units w/8.33 MHz Dual Collins VIR-432 Nav Units w/FM Immune Dual Collins ADF-462 ADF Receivers Dual Collins TDR-94D Mode S Transponders Dual Collins DME-422 Receivers Dual IFIS-5000 File Servers

XM Satellite Weather Dual Collins GPS-400A Integrated Digital Engine Indication Collins WXR-850 Color Weather Radar System Displays Dual Collins ADC-3000 ADC Dual Collins AHC-3000 ATT/HDG Computers Collins ALT-4000 Radio Altimeter Collins HF-9000 HF Radio System with SELCAL Honeywell Mark V EGPWS w/Windshear Alert Universal CVR-30B Cockpit Voice Recorder Honeywell SSFDR AFIS Collins TTR-4000 TCAS II with change 7.1 Dual db Systems Digital Audio Control Panels Interior Factory fireblocked nine passenger layout with a forward four place club arrangement and aft three place divan opposite a single chair and cabin storage closet. Cabin seating is Caressa “Parchment” traditional grain patterned leather with Castel “Lauranne Burn” dark bronze colored fabric and “China Sea” handmade loop pile wool carpet rounds out the extraordinary soft goods completion. Privacy is provided by dual panel cockpit doors. All woodwork is finished in flat cut Etimoe veneer in a cathedral grain pattern. The Galley / Vanity countertops are completed in Pearl Mica with complimentary pearlescent / ivory Formica. Plating is a rich brushed Pewter Exterior Matterhorn White with re-colored stripes to customer specifications for a limited time

Please contact: Don and Sam Starling

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Tel: +1 (254) 848 9192 Mob: +1 (254) 716 2981 E-mail: sales@jetprotexas.com www.jetprotexas.com Aircraft Index see Page 145

CAI TBM 700C2 December.qxp 15/12/2015 15:11 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 Owner Motivated to sell before end of Year

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

Advertising Enquiries see Page 4

www.AvBuyer.com

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

(561) 433-3510 (561) 433-3842 (561) 289-3355 jp@caijets.com www.caijets.com

January 2016 – AVBUYER MAGAZINE

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Mente 1/2 January.qxp 16/12/2015 15:32 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 145

Reed Aviation January.qxp 17/12/2015 09:47 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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Sorens Group January.qxp 15/12/2015 15:37 Page 1

S H O W C A S E

2012 Gulfstream G450 Serial Number: Registration: Airframe TT: Landings:

4245 N7777N 1070 350

• Engines Enrolled on Rolls-Royce Corporate Care Program • APU Enrolled on Honeywell MSP contract • Honeywell HD-710 High Speed Data • PlaneView Enhanced Navigation Package • Synthetic Vision 2.0 • Runway Awareness Advisory System (RAAS) • Digital Flight Data Recorder • High Speed Data System • Enhanced sound proofing Engines Engines Enrolled on Rolls-Royce Corporate Care Program L/H Engine TAY MK 611-8C Serial Number: 85478 Actual engine hours: 1070 R/H Engine TAY MK 611-8C Serial Number: 85487 Actual engine hours: 1070 APU APU Enrolled on Honeywell MSP contract Aircraft Enrolled on Gulfstream PlaneParts Program GTCP36-150(GIV) Serial Number: P-360 Actual APU hours: 1030 Avionics • Four (4) Honeywell DU-1310 Flat Panel Display Units • Two (2) Honeywell DC-884 Display Controllers

• One (1) Honeywell DP-884 Display Brightness Panel • One (1) Honeywell / Kollsman Visual Guidance System • Triple (3) Honeywell MAU-913 Modular Avionics Units • One (1) Honeywell GP-500 Flight Guidance Panel • Triple (3) Honeywell MC-850 Control Display Units • Triple (3) Honeywell AZ-200 Air Data Modules • One (1) Honeywell WU-880 Weather Radar Receiver / Transmitter Antenna • Two (2) Honeywell WC-884 Weather Radar Controllers • Triple (3) Honeywell IR-500 LASEREF V Micro Inertial Reference Units • Dual (2) Honeywell MRC-855A Modular Radio Cabinets Interior • Fourteen (14) passenger executive interior. The forward cabin features a forward four (4) place club with pull out tables, galley as well as forward crew vacuum lavatory.

• The mid cabin area offers a four (4) place left side conference group opposite a credenza which incorporates the Cabin Entertainment System, facsimile machine and miscellaneous storage. The aft cabin beings at a hard partition divider and features a right side four (4) place divan opposite a two (2) place club arrangement. Aft passenger vacuum lavatory. The forward galley features both High- Temp and Microwave ovens as well as both Coffee & Espresso makers. The cabin Entertainment System features an Airshow 4000 System.

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

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

Aircraft Index see Page 145

AeroSmith Penny Hawker 125 January.qxp 16/12/2015 15:30 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

Features CURRENTLY AT WEST STAR AVIATION COMPLYING WITH 48 MONTH (E,F,G), 10,000 HOUR INSPECTIONS, 4 & 8 YEAR X-RAY’S AND GEAR OVERHAUL AVIATION PARTNERS WINGLETS DUAL UNIVERSAL FMS UNS-1 LW (WAAS) WITH LPV FMS ARE CAPABLE OF NEXTGEN UPGRADES FOR CDLP, ADS-B out AND FAN 1A 800XP STYLE INTERIOR 800XP AIR CYCLE MACHINE Airframe GARRETT TFE-731-5R-1H on MSP GOLD ENGINE LEFT: S/N P91406 10792 TT ENGINE RIGHT: S/N P 91474 9270 TT APU HAMILTON SUNDSTRAND T-62T-40C8D1 Avionics COMM: DUAL COLLINS VHF-422D w/22C CTL. HEADS NAV: DUAL COLLINS VIR-32 w/8.33 KHZ SPACING AP: COLLINS APS-85 AUTOPILOT RADAR: COLLINS WXP-85C WEATHER XM: XM WEATHER ANTENNA WITH BARON WiFi CONNECTION TO IPAD (FOREFLIGHT APP) AHARS: DUAL COLLINS AHC-85 IRS: HONEYWELL LASEREF

ADF: TDR: DME: EFIS: ADC:

COLLINS ADF-60A DUAL COLLINS TDR-94D W/MODE S DUAL COLLINS DME-42 COLLINS 5 TUBE/MFD DISPLAY DUAL COLLINS 82A AIR DATA SYSTEM R/ALT: COLLINS ALT-55B RADIO ALT. SYSTEM HF: COLLINS HF-9000 W/SELCAL TCAS: COLLINS TCAS 4000 VERSION 7.0 TAWS: UNIVERSAL CLASS A Additional FAIRCHILD F1000 FLIGHT DATA RECORDER COCKPIT VOICE RECORDER – 100A IRIDIUM BASED AIRCELL ST-3100 TELEPHONE SYSTEM ELT – DORNE – MARGOLIN 8.1 W/NAV RVSM CERTIFIED BAGGAGE COMPARTMENT AFT OF LAV GROUND POWER CONTACTOR BUSS TIE CONTACTOR 115 VAC 60 HZ INVERTERS AUTOMATIC POWER RESERVE (APR) LEAR-SIEGLER STARTER GENERATORS CONCORDE SEALED LEAD ACID BATTERIES EROS QUICK DONNING OXYGEN MASKS RADIO MASTER SWITCH FUEL TOTALIZER Interior COMPLETE INTERIOR INSTALLED IN 2004, INCLUDING ALL NEW SEATS, CABINETS, CABIN SHELL, HEADLINER, SIDE LEDGES, AIRDUCTS, NEW INTERIOR WIRING WITH LED READING AND UP WASH LIGHING. CONFIRGURED IN FORWARD FOUR PLACE CLUB, AFT CLUB SEAT ON LEFT SIDE AND

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

Advertising Enquiries see Page 4

www.AVBUYER.com

RIGHT THREE PLACE DIVAN IN BEIGE LEATHER, FIREBLOCKED PACKAGE TO MEET FAR PART 135 REQUIREMENTS, FWD GALLEY w/MICROWAVE AND MAPCO, THREE ENFLITE MAIN CABIN TABLES, FWD AND AFT BAGGAGE. BEIGE WOOL CARPET, WOOD HIGH GLOSS CHERRY VENEER ON ALL CABINETS, GALLEY, LAV AND ENTRANCE. FLIGHT ENTERTAINMENT SYSTEM WITH DVD/CD, MOVING MAP DISPLAY, WIRELESS CABIN HEADSETS Exterior WHITE WITH MULTI BLUE STRIPES NEW 2012

Tel: +1 (713) 649-6100 Fax: +1 (713) 649-8417 Email: aspinfo@aerosmithpenny.com www.aerosmithpenny.com January 2016 – AVBUYER MAGAZINE

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CAAP x2 January.qxp 15/12/2015 15:43 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

(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 (pending certification) Aircell Gogo Biz high-speed internet

Corporate Aviation Analysis & Planning Inc 97 Village Lane, Suite 100, Colleyville, TX 76034, USA

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

Aircraft Index see Page 145

Hawkeye Aircraft Acquisitions December.qxp 15/12/2015 15:45 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

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

Engines Engines on Rolls Royce Corporate Care 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 Interior 13 passenger interior with forward and aft lavatory Galley includes microwave, convection oven, refrigerator, coffee maker

Best equipped on market - Competitively priced

Hawkeye Aircraft Acquisitions LLC Mike McCracken, President P.O. Box 345 Safety Harbor, Florida 34695, USA Advertising Enquiries see Page 4

www.AvBuyer.com

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

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PRODUCTS & SERVICES Magellan Jets

TAG Farnborough Airport

The major Jet-card provider, has launched a Corporate Membership

Has been awarded, for the second year in a row, ‘Best Handling Agent/FBO’ at the Baltic Air Charter Association (BACA) Autumn Lunch & Excellence Awards. BACA is a worldwide organization for air charter professionals, representing the interests of 200 member companies, including brokers, charter airlines, airports, business aircraft operators and consultants.

The winners of BACA’s Annual Awards are chosen by its membership. Earlier this year, TAG Farnborough Airport was named ‘International FBO of the Year’ in the Aviation International News (AIN) International FBO Survey 2015 for the ninth consecutive year and ‘Best European FBO’ in the 2015 Pro Pilot PRASE Survey for the tenth year in a row. www.tagfarnborough.com

program. Companies committing to more than 100 flight hours per year are guaranteed aircraft availability with six hours' notice, compared with eight hours for individual members, and no peak-day restrictions, surcharges or blackout dates. More benefits of Corporate Membership include use of aircraft that on average are 10 years old or newer; ability to push back departure times by up to two hours; $100 million minimum liability insurance for all aircraft categories; catering at no extra charge; Wi-Fi on all midsize and larger aircraft; 15 percent credit for roundtrip flights; and 5 percent credit on legs of more than four hours. www.magellanjets.com

Rockwell Collins

Textron Aviation

First business aviation customer to adopt Inmarsat’s Jet ConneX providing the fastest broadband connectivity available is VistaJet. Rockwell Collins is a value added reseller of the Jet ConneX service as part of its ARINCDirectSM offering. Jet ConneX is expected to be available globally in early 2016. It will support both voice and high-speed internet via Inmarsat’s next generation of satellites, the Inmarsat-5s (I-5) over the Ka-band, which have more capacity, are globally available and are highly efficient in the use of bandwidth. www.rockwellcollins.com

Recently announced it has added a dedicated aircraft to support customers throughout Europe, further strengthening its service network there. Based at the company’s Düsseldorf Service Center, the Cessna Citation CJ3 jet provides fast and reliable service and support for Textron Aviation customers during maintenance events by transporting technicians and parts to the customer’s location. The dedicated aircraft serving the European region has a two-hour reach to most customers, and it is available seven days a week, including most holidays.

The aircraft is part of Textron Aviation’s mobile service support, which includes three dedicated aircraft and a fleet of mobile service units, trucks equipped to perform a variety of maintenance or repair functions when customers prefer service at their own facility, based in North America and Europe. www.textron.com

StandardAero

U.S. Bank Multi Service Aviation

Has completed its first certified ADS-B solution for a Falcon 50 aircraft at the company’s Augusta, Georgia MRO facility. The system incorporates CMD Flight Solutions’ ADS-B DO260B upgrade and Supplemental Type Certificate (STC). As a result, this Falcon 50 aircraft is now in full compliance with the Federal Aviation Administration’s 2020 mandate for ADS-B capabilities.

Benefits from this system will provide increased fuel efficiency through better aircraft routing along with increased safety and situational awareness for business aviation pilots.

StandardAero provides a variety of avionics, cabin management and connectivity capabilities via its network of service providers. The company is factory authorized by the majority of avionics manufacturers and provides in-house engineering design, system integration and installation capabilities along with an Organizational Design Authority (ODA) authorization. www.standardaero.com

Advertising Enquiries see Page 4

Is rolling out an app that enables pilots to order and pay for fueling services directly through their phones. MSA Pay, which U.S. Bank believes is the first complete order-through-payment “cardless” mobile fueling app for general aviation, is designed to save its customers time by eliminating receipt and invoice tracking. In the works for about eight months, the app will be available for Apple iOS devices this year and for Google Android systems early next year. www.usbpayment.com/aviation-solutions

www.AvBuyer.com

January 2016 – AVBUYER MAGAZINE

137

Sean advertorial - Products & Services January.qxp_Layout 1 16/12/2015 16:52 Page 2

PRODUCTS & SERVICES Innovative Solutions & Support

Rockwell Collins Pro Line Fusion integrated avionics system played a key role in the

Innovative Solutions & Support announce that its Air Data and

successful first flight of the Mitsubishi Regional Jet, which took place

Heading Reference System replaces DG/VG's, AHRS and air

Nov. 10 in Toyoyama-cho, Aichi Prefecture, Japan. It also introduced

data computers in a single, compact, lightweight unit. The

new Corporate Aircraft Service Program offerings that provide

company also introduced its Future Generation Flight Deck

aircraft customers with more flexibility for maintenance and service.

featuring its PT6 Autothrottle (patent pending) for retrofit in the

And, in a move to address the growing demand for abundant,

PC-12. It also states that its RNP/LPV Navigator is designed to

easy-to-load onboard entertainment and information, Rockwell

allow for RNP operations without having to modify the existing

Collins introduced Stage content service--an airworthy,

FMS in older aircraft, which saves many operators from

subscription-based media streaming solution for corporate and

performing costly FMS and MMR upgrades. www.innovative-ss.com

private aircraft. www.rockwellcollins.com

Par Avion

Universal Avionics Systems

International business aircraft brokerage firms Par Avion Ltd. 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

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

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

Scandinavian Avionics A/S as its 2015 Top Dealer International. www.uasc.com

Bombardier

Haitec

Bombardier Business Aircraft and GlobalParts.aero 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.bombardier.com

138

AVBUYER MAGAZINE – January 2016

Aviation as its 2015 Top Dealer North America, and

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 doubledigit 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

www.AVBUYER.com

Aircraft Index see Page 145

Avbuyer_Layout 1 22/01/2015 14:34 Page 1

Introducing The New AvBuyer.com

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

P140-142.qxp 17/12/2015 12:04 Page 1

Marketplace Bombardier Learjet 45XR

Price:

$3,900,000 USD

Year:

2004

S/N:

45-239

Reg:

C-GJCY

TTAF:

3310

Location: Canada

Bombardier Challenger 605

Price:

$15,800,000 USD

Year:

2009

S/N:

5786

Reg:

C-FLMK

TTAF:

1365.4

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

Smart Motion Aviation Price:

$12,750,000 USD

Year:

2009

S/N:

20250

Reg:

N999ND

TTAF:

1732.6

Location: USA- TX

Hawker Beechcraft 800XP

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

Location: Canada

Bombardier Challenger 300

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

Skyservice Jet Sales

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

Rayfield Investments LLC Price:

$2,600,000 USD

Year:

1998

S/N:

258356

Reg:

N55BA

TTAF:

4437

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

Tel: +1 (231) 633-0522 gtownsend@rayfieldinvestments.com

Impeccably maintained low time 800XP. Equipped with Wi-Fi, Airshow 4000, LED lighting, engines on MSP Gold, APU on MSP, HAPP program paid through 10/2016.

Beautiful condition inside and out. For sale by owner. No leases. Asking $2,600,000. Broker inquiries are welcome but broker listings are not desired. Seller will pay one negotiated broker transaction fee upon successful sales transaction if buyer is represented by broker

Location: USA- FL

Bombardier Learjet 35A

International Jet Markets Price:

$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

www.aircraftsales.com 140

AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

Aircraft Index see Page 145

P140-142.qxp 17/12/2015 12:04 Page 2

Marketplace Challenger 300

Capital Jet Group Price:

$11,895,000

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:

$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:

$1,875,000 USD

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

Advertising Enquiries see Page 4

www.AVBUYER.com

January 2016 – AVBUYER MAGAZINE

141

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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

Sikorsky S-76C++

Henry Liddell-Grainger Price:

$4,100,000 USD

Year:

2000

S/N:

760506

Reg:

M-AKAR

TTAF:

1481

Location: United Kingdom

142

AVBUYER MAGAZINE – January 2016

www.AVBUYER.com

Tel: +44 (0) 788 466 7702 E-mail: aytonaviation@icloud.com

Annual Inspection: Due 18 Dec 2015, #1 Engine:TBO 3000/Time 470.24 TSN/Remaining 2529.36, #2 Engine: TBO 3000/Time 475.19 TSN/Remaining 2524.41, Main Gear Box: TBO 3250/Time 84.20 TSN/Remaining 3165.40, Intermediate Gear Box: TBO 4500/Time 1481.00 TSN/Remaining 3019.00, Tail Gear Box: TBO 4000/Time 1481.00 TSN/Remaining 2519.00, Avionics: Honeywell SPZ-7600 DAFCS, Honeywell Primus 440 Radar, Bendix/King KTR-908, Honeywell EDZ-705 EFIS, Bendix/King KNR-634A Navigation System, Paint: New December 2000. Overall Gun Grey. Interior: New December 2000. Beige Carpeting, Forward facing Bench Seating plus 2 Captain chairs configuration in Tan leather

Aircraft Index see Page 145

Project1_Layout 1 19/08/2015 11:23 Page 1

1 - 3 JULY 2016

SYWELL AERODROME

2006 - 2016 SAVE THE DATE! WWW.AEROEXPO.CO.UK @AeroExpo

/AeroExpoUK An AVBUYER event

P144.qxp 17/12/2015 12:05 Page 1

LEKTRO

EXPERIENCE. KNOWLEDGE. SUCCESS.

Since 1945

The Ultimate Aircraft Tug

Every deal is unique and requires creative solutions to complex problems in order to make it a success. With over 50 years of experience and deep knowledge of the industry, we don’t just get the deal done, we get it done right.

Models ranging

15,000 to 210,000 lbs.

Electric Towbarless Certified Easy to Use Universal Rugged Simple to Maintain www.

LEKTRO .com

1-800-535-8767 1-503-861-2288 sales@lektro.com Par Avion Ltd

GKGLAW.COM • (202) 342-5251

Alberth Air Parts

+1 832 934 0055

Spare Parts

FALCONS • HAWKERS • LEARS

•BUY •SELL •TRADE

www.paravionltd.com

CESSNA LEARJET HAWKER WESTWIND FALCON GULFSTREAM

www.alberthaviation.com

SALES • ACQUISITIONS • CONSULTING

Fax: +1 832 934 0011 AvBuyer (USPS 014-911), January 2016, Vol 20, Issue No 1 is published monthly by AvBuyer Ltd, 1210 West 11th Street, Wichita, KS 67203-3517 and has a targeted circulation to decision makers within business and corporate aviation throughout the world. It is also available on Annual Subscription @ UK £40 and USA $65. POSTMASTER: Send address changes to: AvBuyer Magazine 1210 West 11th Street, Wichita, KS 67203-3517.

Postage is paid at Wichita, KS and additional mailing offices © Copyright of AvBuyer Ltd. Every effort is made to ensure the accuracy of material published in AvBuyer Magazine. However, the publishers cannot accept responsibility for claims made by manufacturers, advertisers or contributors. The views expressed are not necessarily those of the Editor or the publishers. Although all reasonable care is taken of all material, photographs, CD & DVDs submitted, the publishers cannot accept any responsibility for damage or loss. All rights reserved. No part of AvBuyer Magazine - Advertising, Design or Editorial - may be reproduced, stored in a retrieval system, or transmitted in any other form, or by any other means, electronic, mechanical, photographic, recording or otherwise, without prior written permission of the publishers.

Advertiser’s Index 21st Century Jet Corporation......................................146 Abu Dhabi Air Expo........................................................117 ABACE .............................................................................118 AeroExpo 2016 ..............................................................143 AeroSmith/Penny ...........................................................133 Air Charter Service ...........................................................97 Aircraft Guaranty Corporation.....................................113 AMAC ..................................................................................61 American Aircraft Sales...................................................95 Aradian Aviation..............................................................109 AvBuyer ............................................................................139 Avjet Corporation.....................................................68 - 69 Avpro...........................................................................10 - 14 Bell Aviation...............................................................52 - 53 Bombardier.........................................................................27 Boutsen Aviation...............................................................71 CAAP ................................................................................134 Central Business Jets....................................................147 Charlie Bravo .....................................................................93 Conklin & de Decker ........................................................63

144

AVBUYER MAGAZINE – January 2016

Corporate AirSearch Int’l..............................................129 Corporate Concepts.................................................85, 99 Dassault Falcon Jet .....................................................2 - 3 Duncan Aviation ................................................................29 Eagle Aviation ....................................................................43 Elliott Jets ..................................................................44 - 45 Freestream Aircraft USA ........................................20 - 23 Gamit ................................................................................111 General Aviation Services ..............................................89 GKG Law .........................................................................144 Global Jet Monaco..............................................126 - 127 Hagerty Jet Group ............................................................91 Hatt & Associates.............................................................49 Hawkeye Aviation ...........................................................135 Intellijet International.....................................................6 - 7 Jet Bed..............................................................................115 Jet Sense Aviation...............................................120 - 125 Jet Support Services (JSSI)...........................................59 JetBrokers..................................................................50 - 51 Jetcraft Corporation.......................................38 - 39, 148

www.AVBUYER.com

Jeteffect...............................................................................79 JETNET.............................................................................119 JetPro Texas.....................................................................128 Kaiser Air ...............................................................................5 Lufthansa Bombardier Aviation Services .............61, 63 Lektro ................................................................................144 Mente Group...................................................................130 Mesinger Jet Sales...................................................15 - 17 OGARAJETS ............................................................30 - 31 Par Avion ..........................................................................111 Reed Aviation ..................................................................131 Rolls-Royce ........................................................................57 San Marino Aircraft Registry..............................1, 18 -19 Singapore Airshow ........................................................136 Sorens ..............................................................................132 Tempus Jets.....................................................................101 The Elite London ............................................................106 The Jet Business ......................................................34 - 35 VREF ...................................................................................63 Wright Brothers Aircraft Title.......................................107 Aircraft Index see Page 145

P145.qxp 17/12/2015 11:58 Page 1

Aircraft For Sale • AIRCRAFT • HELICOPTERS AIRCRAFT

PAGE

AIRBUS A319 . . . . . . . . . . 141,

AVIAT Husky A-1C . . . . 51,

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 16, 20, 38, 39, 68, . . . . . . . . . . . . . . . 95, 99, 148, BBJ2 . . . . . . . . . . 126, 127, 767-DXER . . . . . 141, 737-300 . . . . . . . 68, 757 . . . . . . . . . . . 68,

BOMBARDIER Global 5000 . . . . 10, 16, 38, 39, 71, . . . . . . . . . . . . . . . ,79, 99, 111, 148, Global 6000 . . . . 7, 39, 148, Global 7000 . . . . 34, Global Express . 39, 69, 99, 148, Global Express XRS 7, 22, 27, 34, 39 . . . . . . . . . . . . . . . 69, 93, 148,

AIRCRAFT

PAGE

XLS . . . . . . . . . . . 12, 44, 93, 109, CJ1. . . . . . . . . . . . 43, 71, CJ1+ . . . . . . . . . . 12, CJ2+ . . . . . . . . . . 45, CJ2. . . . . . . . . . . . . 12, 16, 52, CJ3. . . . . . . . . . . . 43, 111, CJ4. . . . . . . . . . . . 45, Bravo . . . . . . . . . 44, 45, 50, 51, Conquest I . . . . . 43, Conquest II . . . . 53, Excel . . . . . . . . . . 95, 109, Encore + . . . . . . 45, 50, 141, Jet . . . . . . . . . . . . 51, 52, 71, M2 . . . . . . . . . . . . 43, Sovereign 39, 99, 109, 148, SII . . . . . . . . . . . . 53, T206H . . . . . . . . . 50, Ultra . . . . . . . . . . 51, Mustang . . . . . . . 29, 109, 180 . . . . . . . . . . . 50, 421B . . . . . . . . . . 50, 421C . . . . . . . . . . 43, 50,

Challenger

DORNIER

300 . . . . . . . . . . . 38, 71, 120, 140, 600 . . . . . . . . . . . 30, 89, 141, 601-1A . . . . . . . . 93,, 601-1A-3AER . . 38, 601-3R . . . . . . . . 38, 601-3A . . . . . . . . 79, 601-3A/ER . . . . 79, 604 . . . . . . . . . . . 11, 12, 23, 29, 38, . . . . . . . . . . . . . . . 39, 79, 148, 605 . . . . . . . . . . . 22, 34, 39, 79, 140, . . . . . . . . . . . . . . . 148, 850 . . . . . . . . . . . 27, 38, 39, 148,

328 JET. . . . . . . . 71, 89,

Learjet

31A . . . . . . . . . . . 29, 50, 52, 79, 35A . . . . . . . . . . . 50, 140, 36A . . . . . . . . . . . 142, 40 . . . . . . . . . . . . 50, 52, 45 . . . . . . . . . . . . 12, 23, 29, 50, 79, . . . . . . . . . . . . . . . 95, 111, 45XR . . . . . . . . . . 27, 39, 44, 69, 79, . . . . . . . . . . . . . . . 121, 140, 148, 55 . . . . . . . . . . . . 50, 60 . . . . . . . . . . . . 12, 79, 93, 121, 60XR . . . . . . . . . . 101, 123, 124,

CESSNA Citation II . . . . . . . . . . . . . 51, V. . . . . . . . . . . . . . 45, 52, 93, X . . . . . . . . . . . . . 79, 93, 95, 147, X Elite . . . . . . . . . 44, X+ . . . . . . . . . . . . 16, 131,

AIRCRAFT

EMBRAER EMB-135 LR . . . 99, EMB-145 EP . . . 99, Legacy 600 . . . . 34, 39, 50, 111, 148, Legacy 650 . . . . 34, 135, Phenom 100 . . . 79, Phenom 300 . . . 52,

FALCON JET 7X . . . . . . . . . . . . 3, 10, 11, 34, 71, 89, . . . . . . . . . . . . . . . 95, 146, 147, 10 . . . . . . . . . . . . 50, 20F . . . . . . . . . . . 51, 50 . . . . . . . . . . . . 30, 146, 50EX . . . . . . . . . . 11, 146, 900 . . . . . . . . . . . 146, 900B . . . . . . . . . . 11, 16, 50, 146, 900C . . . . . . . . . . 146, 147, 900EX . . . . . . . . . 16, 22, 29, 30, 111, . . . . . . . . . . . . . . . 146, 900EX EASy . . . 3, 11, 34, 146, 147, 900LX . . . . . . . . . 3, 11, 39, 91, 93, . . . . . . . . . . . . . . . 146, 148, 2000 . . . . . . . . . . 11, 71, 2000LX . . . . . . . . 3, 7, 39, 91, 99, 111, . . . . . . . . . . . . . . . 148, 2000S . . . . . . . . . 3, ,

PAGE

AIRCRAFT

PAGE

GULFSTREAM

ROCKWELL

IV . . . . . . . . . . . . . 79, 111, IVSP . . . . . . . . . . 10, 29, 79, 91, 147, V. . . . . . . . . . . . . . 34, 68, 71, 100 . . . . . . . . . . . 109, 147, 150 . . . . . . . . . . . 79, 91, 109, 148, 200 . . . . . . . . . . . 10, 17, 30, 49, 69, . . . . . . . . . . . . . . . 109, 280 . . . . . . . . . . . 16, 17, 69, 134, 450 . . . . . . . . . . . . 10, 21, 34, 39, 50, . . . . . . . . . . . . . . . 79, 91, 109, 132, . . . . . . . . . . . . . . . 148, 550 . . . . . . . . . . . 7, 10, 16, 17, 20, 34, . . . . . . . . . . . . . . . 35, 68, 71, 79, 95, . . . . . . . . . . . . . . . 101, 109, 650 . . . . . . . . . . . 35, 99, 148,

Turbo Commander 690B. . .51,

650ER. . . . . . . . . 35,

HAWKER BEECHCRAFT King Air 200 . . . . . . . . . . . 50, B200 . . . . . . . . . 44, 45, 71, 89, 109, 350 . . . . . . . . . . . 13, 45, 109, C90 . . . . . . . . . . . 109, C90A . . . . . . . . . . 71, C90 GT . . . . . . . . 109, E90 . . . . . . . . . . . 53, F90-1 . . . . . . . . . 53,

Beechcraft

Duke A60 . . . . . . 50, Premier I . . . . . . 125,

Hawker

400A . . . . . . . . . . 12, 93, 400XP . . . . . . . . . 49, 109, 750 . . . . . . . . . . . 109, 800A . . . . . . . . . . 133, 800XP . . . . . . . . . 12, 44, 50, 69, 95, . . . . . . . . . . . . . . . 109, 130, 134, 850XP. . . . . . . . . 109, 900XP . . . . . . . . . 49, 71, 109, 128, 4000 . . . . . . . . . . 49,

SABRELINER 65 . . . . . . . . . . . . 50,

SOCATA TBM 700B . . . . . 51, TBM 700C2 . . . . 129

HELICOPTERS

AGUSTAWESTLAND A109 Power . . . . 39, 148, A109 E Power . . 13, AW109SP. . . . . . 71, A119 KE . . . . . . . 71, AW139 . . . . . . . . 13, Koala . . . . . . . . . . 109,

BELL 206L4 . . . . . . . . . 142, 212 . . . . . . . . . . . 142, 412 EMS . . . . . . 142, 427 . . . . . . . . . . . 79,

EUROCOPTER/AIRBUS AS350 B-2 . . . . . 14, AS355-F-2 . . . . . 13, 14, AS355N . . . . . . . 71, AS365N3 . . . . . . 14, EC 130 B4 . . . . . 13, 71, EC 135 P2 . . . . . 23, EC 135 P2+ . . . . 109, EC 135 T1 CDS. 71, EC 135 T2i . . . . . 13, EC 145 . . . . . . . . 14, EC 155 B1 . . . . . 14,

MCDONNELL DOUGLAS

IAI

MD900 . . . . . . . . 109,

Astra SPX. . . . . . 79,

SIKORSKY

PIAGGIO P-180 Avanti II. . 141,

S-76C+ . . . . . . . . 14, 39, 148, S-76C++ . . . . . . 14, 23, 142,

PILATUS PC12 NG . . . . . . 17, PC12/45. . . . . . . 53,

FOLLAND

PIPER

Gnatt . . . . . . . . . . 50,

Meridian . . . . . . . 53,

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BUSINESS AVIATION INTELLIGENCE

January 2016 – AVBUYER MAGAZINE

145

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

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E-MAIL: sales@tri-jets.com

CBJ January.qxp_CBJ November06 16/12/2015 13:00 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 1487 One of the last ever to be built, Averages less than 300 Hours per year, Rolls Royce Corporate Care, Gulfstream PlaneParts, MSP Gold, etc‌., 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

SO LD

GIVSP SN 1453 Single Midwestern US Owner, Only 4600 Hours TT, Aft Galley, 16 PAX, External view Camera

2003 GULFSTREAM G100 SN 150

CHALLENGER 300 SN 20264

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

February 2010 In Service Date, 48-Month c/w 02/14

by Bombardier, MSP Gold Engine Program, ATG-5000 Gogo Biz w/ WIFI, Premium Interior Package, Single Midwestern US Owner

www.cbjets.com

ALSO AVAILABLE: Falcon 900EXy SN238 (Lease Only)

Landing Connections Around The World.

2008 CESSNA CITATION SOVEREIGN S/N 680-0250 • 1,653 Hours; 1,023 Cycles • Airframe on ProParts; Engines on Power Advantage Plus, APU on AUX Advantage • 9 Passengers in VIP Configuration

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.

2012 GULFSTREAM G150 S/N 0299 • 1,678.9 Hours; 623 Landings • Engines & APU Enrolled on MSP • Single IFIS with Dual FSU-5010

2013 BOMBARDIER GLOBAL 6000 S/N 9515

2013 GULFSTREAM G650 S/N 6004 • December 2013 Entry into Service • Universal Forward Galley with Crew Rest Compartment • Rolls-Royce CorporateCare on Engines

• Rockwell Collins Pro Line Fusion “Vision” Flight Deck • Increased MTOW to 99,500 lbs • 16 Passenger with Crew Rest

2015 BOMBARDIER GLOBAL 6000 S/N 9678

File Photo

ALSO AVAI L ABLE

• Q4 2015 December Position • Jet Aviation (STL) Completion • 14 Passenger Configuration with Mid Cabin Credenza • Full Factory Warranty & Training Provisions

2007 BOMBARDIER LEARJET 45XR S/N 322 • One U.S. Owner Since New • Engines/APU Enrolled on MSP • Aircraft Enrolled on Smart Parts Plus

I N FO @ JETC RAF T. CO M

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2010 AGUSTA A109 POWER 2002 BOEING BBJ 2003 CHALLENGER 604 2010 CHALLENGER 605 2007 CHALLENGER 850 2008 GLOBAL 5000 2003 GLOBAL EXPRESS 2010 GLOBAL XRS 2007 LEARJET 45XR 2008 CITATION SOVEREIGN 2011 FALCON 2000LX 2010 FALCON 900LX 2005 GULFSTREAM G450 2006 LEGACY 600 2005 SIKORSKY S-76C+

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