World Aircraft Sales Magazine October-12 by AvBuyer Ltd.

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WORLD

www.AvBuyer.com â&#x201E;˘

The global marketplace for business aviation

October 2012

Performance. Integrity. Reputation. proudly presents

View this Gulfstream V at NBAA 2012 Static Display

Gulfstream V Serial Number 567 See pages 14 - 17 for further details

Business Aviation & The Boardroom: pages 58 - 91 â&#x20AC;˘ Ten Questions for Ed Bolen, NBAA

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AC Index October2011 20/09/2012 15:09 Page 1

Aircraft For Sale AIRCRAFT

PAGE

AIRCRAFT PAGE 601-3R . . . . . . . . 16, 601-3A ER . . . . . 16, 166, 604 . . . . . . . . . . . 12, 16, 27, 42, 43, 61, . . . . . . . . . . . . . . . 73, 85, 89, 93, 105, . . . . . . . . . . . . . . 148, 172, 605 . . . . . . . . . . . 6, 35, 37, 42, 48, 49, . . . . . . . . . . . . . . . 73, 172, 850 . . . . . . . . . . . 42, 83, 850ER. . . . . . . . . 35,

AIRBUS A318 Elite. . . . . . 14, ACJ . . . . . . . . . . . 42,

BAE Jetstream 31. .. . 29, Jetstream 41. .. . 29,

BOEING/MCDONNELL DOUGLAS

Learjet

- IN THIS ISSUE AIRCRAFT PAGE 560 . . . . . . . . . . . 44, 650 . . . . . . . . . . . 5, CJ1. . . . . . . . . . . . 31, 53, CJ1+ . . . . . . . . . . 21, CJ2. . . . . . . . . . . . 5, 32, 45, 51, 53, . . . . . . . . . . . . . . . 172, CJ2+ . . . . . . . . . . 156, CJ3. . . . . . . . . . . . 38, 41, 44, 65, 105, . . . . . . . . . . . . . . . 148, Bravo . . . . . . . . . 32, 85, Encore .........45, Excel . . . . . . . . . . 33, 38, 44, 89, 171, Jet . . . . . . . . . . . . 32, 51, 53, 65, 85, Mustang . . . . . . . 12, 21, SII . . . . . . . . . . . . 38, 41, 93, Sovereign. . . . . . 32, 65, 67, 75, 89, . . . . . . . . . . . . . . . 105, 149, Stallion . . . . . . . . 32, Ultra . . . . . . . . . . 17, 38, 149, 157,

BBJ . . . . . . . . . . . 24, 35, 37, 47, 147, . . . . . . . . . . . . . . . 172, BBJ 700C . . . . . . 23, 727-100 . . . . . . . 14, 727-100 VIP . . . . 113, 727-200 . . . . . . . 147, 737-300-VIP. . . . 164, 737-500 . . . . . . . 164, 757 . . . . . . . . . . . 37, MD 87 VVIP . . . . 147,

31A . . . . . . . . . . . 44, 83, 85, 35A . . . . . . . . . . . 65, 73, 129, 40 . . . . . . . . . . . . 44, 61, 40XR . . . . . . . . . . 44, 150, 151, 45 . . . . . . . . . . . . 39, 61, 65, 73, 79, . . . . . . . . . . . . . . . 105, 129, 45BR . . . . . . . . . . 47, 45XR . . . . . . . . . . 27, 45, 60 . . . . . . . . . . . . 17, 53, 65, 129, 172, 60SE . . . . . . . . . . 17, 60XR . . . . . . . . . . 17, 47, 65, 83, 166,

BOMBARDIER

CESSNA

Global 5000 . . . . 13, 14, 44, 73, 167, . . . . . . . . . . . . . . . 172, Global 6000 . . . . 6, 61, 172, Global 7000 . . . . 61, Global Express . 6, 14, 19, 22, 43, 61, . . . . . . . . . . . . . . . 65, 85, 152, 153, . . . . . . . . . . . . . . . 167, 172, Global Express XRS.. 13, 35, 167, 172,

CIRRUS

Citation

SR22 . . . . . . . . . . 29, 51,

Challenger 300 . . . . . . . . . . . 15, 73, 172, 600 . . . . . . . . . . . 149, 601-1A . . . . . . . . 32, 38, 65, 67, 601-3A . . . . . . . . 12, 16, 42, 83,

ISP . . . . . . . . . . . 39, 51, II. . . . . . . . . . . . . . 32, 33, 38, 51, 155, IISP . . . . . . . . . . . 32, III . . . . . . . . . . . . . 17, V. . . . . . . . . . . . . . 17, 32, 65, 172, VII . . . . . . . . . . . . 65, 101, 154, 171, X . . . . . . . . . . . . . 27, 42, 43, 53, 85, . . . . . . . . . . . . . . . 172, XLS . . . . . . . . . . . 17, 65, 89, 166, XLS+ . . . . . . . . . . 38, 158, 172, 500Eagle . . . . . . 39, 550 . . . . . . . . . . . 44,

Aviation Companies, Inc.

1981 MU-2 MARQUISE S/N 1510SA, N17HG, 3840TT, 3840/3840 SNEW, 630/630 SHSI/SGBI, 135/320 SPOH, GNS-400, Collins Pro-Line, Sandel 4” EFIS, SPZ-500 A/P, New Interior (2012). U.S. $650,000.

1985 MU-2 SOLITAIRE S/N 458SA, N458BB, 3500TT, 3500/3500 SNEW, 0/0 SHSI/SGBI, 10/10 SPOH, Collins Pro-Line, MFD/RDR-2000 VP, Stormscope, TCAS, SPZ-500 A/P U.S. $765,000.

1980 MU-2 SOLITAIRE S/N 424SA, N82AF, 7485TT, 385/385 SOH, 75/75 SPOH, GNS 530 WAAS, Avidyne Flight Max, 7500-hr, inspection, New P&I (2010) to customer specs. U.S. $675,000.

1974 MU-2K Dash 10 on MSP - Price Reduced S/N 305, N50K, 6370TT, 1180/1180 since -10 (MSP), 750/750 SPOH, Dual Garmin 430’s, RDR-2000, M4-D A/P, New Paint (2009). U.S. $535,000.

1980 MU-2 MARQUISE S/N 756SA, 5Y-MUZ. 12925TT, 1990/2060 SOH, 1990/2060 SHSI, 260/220 SPOH, Collins Pro-Line, M4D A/P, New Paint (2010), Located in Africa. U.S. $475,000.

1975 MU-2M S/N 326, N165MA, 3750TT, 3750/3750 SOH, 235/235 SHSI, 680/370 SGBI, 410/410 SPOH, GTN-750/650, Traffic, XM Weather. U.S. $395,000.

234 Air Park Blvd., Aiken, SC (USA) 29805-8921 Tel: USA +1 803-641-9999 • Fax: USA +1 803-641-4040 www.air1st.com • Email: mike@air1st.com 4

WORLD AIRCRAFT SALES MAGAZINE – October 2012

Conquest II. . . . . . . . . . . . . . 39,

DORNIER Dornier 228 . . . . 16, Dornier 328 . . . . 29, 164,

EMBRAER Legacy 600 . . . . 14, 31, 44, 47, 53, 73, . . . . . . . . . . . . . . . 83, 148, 172, Legacy 650 . . . . 44, Lineage 1000. . . 14, Phenom 100 . . . 28, 33, 41, 53,

AIRCRAFT

PAGE

FALCON JET 7X . . . . . . . . . . . . 3, 6, 19, 38, 44, 83, . . . . . . . . . . . . . . . 170, 172, 10 . . . . . . . . . . . . 29, 20C-5AR. . . . . . . 32, 20F-5BR . . . . . . . 32, 50 . . . . . . . . . . . . 12, 15, 32, 43, 85, . . . . . . . . . . . . . . . 170, 50EX . . . . . . . . . . 32, 170, 50-4. . . . . . . . . . . 170, 900B . . . . . . . . . . 32, 45, 65, 83, 170, . . . . . . . . . . . . . . . 172, 900C . . . . . . . . . . 170, 900EX EASy . . . 3, 6, 12, 15, 34, 45, . . . . . . . . . . . . . . . 170, 171, 900EX . . . . . . . . . 19, 27, 170, 2000 . . . . . . . . . . 3, 13, 20, 154, 171, 2000DX EASy . . 172, 2000EX . . . . . . . 99, 2000EX EASy . . 15, 43, 2000LX . . . . . . . . 3, 5, 131, 164, 172,

GULFSTREAM IISP . . . . . . . . . . . 32, III . . . . . . . . . . . . . 15, 53, 83, 161, IV . . . . . . . . . . . . . 15, 25, 26, 37, 65, . . . . . . . . . . . . . . . 115, 148, IVSP . . . . . . . . . . 15, 19, 42, 65, 71, . . . . . . . . . . . . . . . 147, 172, V. . . . . . . . . . . . . . 1, 15, 35, 37, 43, 71, . . . . . . . . . . . . . . . 159, 172, 100 . . . . . . . . . . . 89, 150 . . . . . . . . . . . 71, 89, 129, 200 . . . . . . . . . . . 6, 32, 65, 71, 129, 400 . . . . . . . . . . . 71,

AC Index October2011 20/09/2012 15:11 Page 2

10.12

• AIRCRAFT • HELICOPTERS • PRODUCT & SERVICE PROVIDERS AIRCRAFT PAGE 450 . . . . . . . . . . . 6, 15, 35, 71, 89, 550 . . . . . . . . . . . 6, 13, 71, 89, 103, . . . . . . . . . . . . . . . 172, 650 . . . . . . . . . . . 172, Twin Commander 690B.. 41, Twin Commander 900. . . 41, Twin Commander 1000. . 41,

AIRCRAFT PAGE . . . . . . . . . . . . . . . 89, 129, 850XP . . . . . . . . . 35, 89, 900XP . . . . . . . . . 17, 61, 89, 161, 171, 4000 . . . . . . . . . . 16, 171,

AIRCRAFT PAGE Meridian . . . . . . . 39, 117,

AIRCRAFT PAGE AS 365 N2 . . . . . 145, AS 365 N3 . . . . . 145, EC 130-B4 . . . . . 47, EC135T2i . . . . . . 44,

SOCATA

Astra 1125 . . . . . 65, 171, Astra SPX. . . . . . 85, 93,

TBM 700A . . . . . 103, TBM 700B . . . . . 32, 103, 160, 166, TBM 700C1 . . . . 32, TBM 850. . . . . . . 33, 103, 166,

Beechcraft

LANCAIR

HELICOPTERS

400 . . . . . . . . . . . 33, 400A . . . . . . . . . . 39, 103, Premier 1A. . . . . 29, 79, 89,

Lancair L4 . . . . . 65,

King Air

MU-2M . . . . . . . . 4, MU-2K Dash 10.4, MU-2 Marquise . 4, MU-2 Solitaire. . 4,

IAI

HAWKER BEECHCRAFT

200 . . . . . . . . . . . 39, 200XPR . . . . . . . 33, 350 . . . . . . . . . . . 33, 45, 65, 89, 129, B200 . . . . . . . . . . 20, 39, 41, 53, 89, . . . . . . . . . . . . . . . 93, 129, C90 . . . . . . . . . . . . . 33, 45, 89, 167, C90B . . . . . . . . . . 17, 44, E90 . . . . . . . . . . 39, F90 . . . . . . . . . . 79,

MITSUBISHI

PIAGGIO P180 Avanti . . . 65, P180 Avanti II . . 45,

Hawker

PILATUS

400XP . . . . . . . . . 32, 65, 700A . . . . . . . . . . 32, 800A . . . . . . . . . . 17, 105, 165, 800B . . . . . . . . . . 73, 800XP . . . . . . . . . 31, 32, 43, 47, 65,

PC12/45. . . . . . . 65, PC12/47 . . . . . . . 117, 164,

PIPER Jetprop DLX . . . . 93,

AGUSTAWESTLAND AW 109C . . . . . . 44, 167, AW 109E. . . . . . . 145, AW 109E Power 165, AW109SP . . . . . . 45, A119 Koala . . . . 89, AW139 . . . . . . . . 20,

206L4 . . . . . . . . . 165, 212 . . . . . . . . . . . 165, 230 . . . . . . . . . . . 44, 412EMS . . . . . . . 165,

EUROCOPTER AS 350BA . . . . . 44, AS 350B3. . . . . . 45, AS 355 F . . . . . . 79, AS 355 N . . . . . . 44, 79,

The World’s leading aircraft dealers and brokers - find one today

MD 600N . . . . . . 89,

SIKORSKY S-76A . . . . . . . . . 79, S-76A+ . . . . . . . . 79, S-76B . . . . . . . . . 65, 149, 171, S-76C+ . . . . . . . . 21,

CORPORATE AVIATION PRODUCTS & SERVICES PROVIDERS

BELL

Find an Aircraft Dealer

MCDONNELL DOUGLAS

Aircraft Engine /Support . 56, 77, . . . . . . . . . . . . . . . . . . . . . . . . 123, 135, Aircraft Perf & Specs . . . . . 126, 136, . . . . . . . . . . . . . . . . . . . . . . . . 143, Aircraft Title/Registry . . . . 57, 133, Avionics . . . . . . . . . . . . . . . . 87, Finance . . . . . . . . . . . . . . . . 107, 139, Ground Handling . . . . . . . . 135, Photography . . . . . . . . . . . . 139,

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

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World Aircraft Sales EDITORIAL Deputy Editor (London Office) Matthew Harris 1- 800 620 8801 editorial@avbuyer.com Editor - Boardroom Guide J.W. (Jack) Olcott 1- 973 734 9994 Jack@avbuyer.com Editorial Contributor (USA Office) Dave Higdon Dave@avbuyer.com Consulting Editor Sean Oâ&#x20AC;&#x2122;Farrell +44 (0)20 8255 4409 Sean@avbuyer.com

ADVERTISING Karen Price 1- 800 620 8801 Karen@avbuyer.com Karen Schaefer (USA Office) 1-386 767 8460 ks@avbuyer.com

Quickly evaluate the total annual & hourly urly costs associated ZLWK WXUELQH DLUFUDIW RZQHUVKLS WK F V %HQFKPDUN EXGJHW ERWK YDULDEOH Âż[HG FRVWV LQ RQH $SSOLFDWLRQ % HQFKPD EXGJHW E ,,QVHUW \RXU RZQ VSHFLÂżF RSHUDWLQJ QXPEHUV DFWXDO KRXUO\ XWLOL]DWLRQ QVHUW \RXU RZQ VSHFLÂżF R RQ 9LHZ DFFHVV WKH $SSOLFDWLRQ RQ YLUWXDOO\ DQ\ GHYLFH 9LHZ DFFHVV WK DWL W RQ RSHUDWLQJ V\VWHP ZLWK D :L )L FRQQHFWLRQ R SHUDWLQJ V\VWHP ZLWWK

STUDIO/PRODUCTION Helen Cavalli/ Mark Williams 1- 800 620 8801 Helen@avbuyer.com Mark@avbuyer.com CIRCULATION Lynne Jones 1- 800 620 8801 Lynne@avbuyer.com AVBUYER.COM Nick Barron Nick@avbuyer.com

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â&#x20AC;&#x153;With th ACC we can produce accurate cost comparisons and professional looking UHSRUWV DQG XVH WKH H[DFW XWLOL]DWLRQ ÂżJXUHV RXU FOLHQWV ZDQW WR VHH RIWHQ XVLQJ cost items adapted to the European conditions. It is easy to use and to customize. Better yet, we can consult ACC from any computer, iPad, even an iPhone.â&#x20AC;?

Emma Davey Emma@avbuyer.com PUBLISHER John Brennan 1- 800 620 8801 John@avbuyer.com

-Octavio de Almeida Sales Director & HondaJet Dealer Manager TAG Aviation Europe

USA OFFICE 1210 West 11th Street, Wichita, KS 67203-3517 EUROPEAN OFFICE Cowleaze House, 39 Cowleaze Rd, Kingston, Surrey, KT2 6DZ, UK +44 (0)20 8255 4000

WORLD AIRCRAFT SALES MAGAZINE IS A MEMBER OF THE FOLLOWING ORGANISATIONS: Aircraft Electronics Association (AEA) - British Business and General Aviation Association (BBGA) British Helicopter Association (BHA) - European Business Aviation Association (EBAA) Helicopter Association International (HAI) - National Aircraft Finance Association (NAFA) National Aircraft Resale Association (NARA) - National Business Aviation Association (NBAA)

WORLD AIRCRAFT SALES MAGAZINE â&#x20AC;&#x201C; October 2012

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Contents

Volume 16, Issue 10 – October 2012

Featured Articles Business Aviation and the Boardroom 58

Reject Optics, Recognize Reality: With next month’s election and the polarized positions that will be sure to surface, never lose sight of Business Aviation’s basic value.

Evaluating Cost: Measuring the value of Business Aviation requires a careful examination of costs and benefits, explains Pete Agur. Here’s how.

Aircraft Reliability: You can only manage what you can measure... So how can this logic be applied effectively to the reliability of the company aircraft?

Entertainment, Amusement and Recreational Use: We examine

the tax implications of personal and recreational use of company aircraft.

Reading A Market: An analysis of market data to help understand trends and make decisions regarding asset values of business aircraft. Tea leaves, it appears, are useless.

Bringing Business Aircraft Into China: An illustration of how China deals with overseeing the registration and placement into service of business aircraft.

Election Coverage: You need to carefully examine your insurance coverage if you plan to use your airplane to assist politicians in the lead up to the coming elections.

The Medium Jet Value: A look at the benefits of Medium Jets, and a listing of values for models built over the last 20 years.

Main Features 52

Aircraft Comparative Analysis - Citation XLS+: How does the performance of the Citation XLS+ stand up against the Learjet 40XR?

The Sequestration Threat: Dave Higdon considers the impact that sequestration could have on the aviation industry, along with what is hoped can happen to avoid it…

110

Medium Jets Review 2012 (Part 2): Our annual review of the medium jet segment concludes with Embraer’s, Gulfstream’s and Hawker’s in-production/in development mid-size offerings for the market.

116

Ten Questions for Ed Bolen, NBAA: Ed Bolen discusses some of the issues close to the heart of his association, the National Business Aviation Association, ahead of the Convention in Orlando.

Regular Features

122

Inside Maintenance – Older Citations: While the phase inspections can seem numerous, so are the prospective upgrades you could make to an older Citation to keep it flying decades after it first rolled off the production line.

127

Global Market Review – Asia Pacific: Mike Vines reviews the main news stories that have come out of Asia Pacific’s aviation industry in recent weeks.

10 18 40 100 102 137 140

132

Aircraft Title Insurance Discussed: Is it really worth risking losing your

Next Month’s Issue

aircraft to save money on aircraft title insurance? We look at some of the title issues that can spring up without warning.

Small Jet Value and Specifications Outline

Advertising Enquiries see Page 8

www.AvBuyer.com

Viewpoint BizAv Round-up Market Indicators Aviation Leadership Roundtable Aircraft Specs & Performance Tables To Buy or Lease Pre-Owned Aircraft Sales Trends

Dealer Broker Market Update

WORLD AIRCRAFT SALES MAGAZINE – October 2012

Gil Wolin Oct12_Gil WolinNov06 18/09/2012 11:51 Page 1

VIEWPOINT

Cracking The Code The dangers of unregulated code-sharing. by Gil Wolin funny thing happened on the way to Columbus last month. When I booked my flights on Delta Airlines’ website, I found that the flights weren’t aboard Delta aircraft. They were with the Delta Connection, Delta’s hub-and-spoke code-sharing arrangement with various regional operators - and I would be flying not one, but two different regional carriers: the outbound flight aboard Chautauqua Airlines on either an Embraer RJ 135, 140 or 145, and the return leg aboard Shuttle America on an Embraer 175. Both Chautauqua and Shuttle America are subsidiaries of Republic Airways Holdings. According to its website, Republic Airways Holdings operates a combined total of about 1,500 flights daily to more than 120 cities in North and Central America – most of them under code-sharing arrangements with American, Continental, United, US Airways, and the already-noted Delta. It gets a bit confusing, doesn’t it? I try to book a flight with a major Part 121 branded airline, and wind up on two regional carriers who code-share with the major airline for their mutual marketing benefit. It gets worse. Chautauqua and Shuttle America actually code-share with four other major carriers, and Delta also codeshares with its own wholly-owned subsidiary regional carrier Comair, as well as with ExpressJet, Compass and GoJet Airlines (both owned by Trans States Holding), Pinnacle Airlines and its subsidiary Mesaba, and SkyWest. Code-sharing is just one of the topics William McGee drills into in his new book Attention All Passengers (Harper Collins, 2012), a scathing review of the commercial airlines cost-cutting in their attempt to achieve consistent profitability in the postderegulation world. McGee has some pretty good credentials: he is a pilot and former operations manager with the Pan Am Shuttle as well as serving as the Department of Transportation’s only consumer advocate on its Future of Aviation Advisory Committee. His position on the current state of commercial airlines is clear from the outset: the

WORLD AIRCRAFT SALES MAGAZINE – October 2012

service stinks, and the fact that one standard of safety – for pilot experience, training, and maintenance – is not applied across all levels of scheduled commercial air service is, at the very least, deceptive marketing on the part of airlines and their code-sharing partners. Strong stuff, no doubt. But his book – and my own booking experience with Delta – got me thinking about a parallel within our own industry: charter operators and charter brokers, the FAA and the DOT. The vast majority of the 850+ turbine charter operators in the US are aircraft management companies. More than 80% of their combined fleets are owned by third parties who make the aircraft available for charter when they aren’t flying. While a management company’s charter sales department may have booking revenue trips on their managed fleet as their primary objective, they will subcontract the charter trip to another operator if they: A) Don’t have the right aircraft, in the right place, at the right time to handle a charter request; or B) Can’t get an owner-release of an aircraft in time to meet a client’s response time. If either scenario occurs, the trip is subcontracted to another operator – and there is an unwritten agreement among most charter operators that a subcontracting operator will not try to lure away another’s charter clients while flying them, and will operate as a sort-of extension to the booking operator’s fleet. And that is a de facto Part 135 codesharing arrangement, sans footnote that the flight will be operated by an entity other than the charter company with which the client booked. Assuming that the charter customer called the first operator based on price as well as perceived safety and service quality, then where is the DOT oversight that assures the client that the subcontractor will provide the expected level of safety and service? Then there are the fractional operators, whose clients have guaranteed aircraft availability and response time that fractionwww.AvBuyer.com

al must meet. If no fleet aircraft is available, the operator must provide comparable charter aircraft. Its insurance may require some minimum standard of safety from a subcontractor. But even so, this too is tantamount to unregulated code-sharing among fractionals. The same question applies to charter brokers, particularly those offering jet cards. There is no one operator, no one fleet with aircraft on which the client can expect to fly. There is no oversight, and no regulatory entity ensuring that the safety and service standards advertised by the broker will be provided by the operator with which the broker books its clients (see Viewpoint, “Charter a G550 for $3,990?”, June 2011). In today’s world, the only assurance is the independent third party audit. As the old expression goes, “Trust, but verify.” And that’s exactly what those audits do. If I want to book with an IS-BAO-approved Argus Platinum or Wyvern Wingman, then I as a charter client need assurance that if my trip is “sold off,” it will be to a comparable operator. And I need proof of that from the operator who actually flies my trip – not just the booking agent or broker. Because absent regulatory oversight, that is what is needed to the crack the code. ❯ Gil Wolin draws on almost forty years of aviation marketing and management experience as a consultant to the corporate aviation industry. His aviation career incorporates aircraft management, charter and FBO management experience (with TAG Aviation among others), and he is a frequent speaker at aviation, travel and service seminars. Gil is a past director of the RMBTA and NATA, and currently serves on the Advisory Board for Corporate Angel Network and GE Capital Solutions-Corporate Aviation. Gil can be contacted at gtwolin@comcast.net Aircraft Index see Page 4

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BizAv Round-Up NEWS IN BRIEF

10.12

CESSNA CITATION TEN

AgustaWestland revealed that Kaan Air signed a preliminary sales contract for two AW169 intermediate twin-engine helicopters (among other models), marking the entry of the AW169 helicopter into the Turkish helicopter market. / More from www.Agustawestland.com

/ More from www.associated.aero

Boeing delivered a Boeing Business Jet 747-8 with the first Greenpoint Technologies Aeroloft system, which provides an extra 393 sq ft of cabin space (total 5,179 sq ft) via the addition of a loft area above the main cabin between the upper deck and tail. It was installed by Boeing Global Transport & Executive Systems in Wichita. The Aeroloft features eight private sleeping berths and a changing room. / More from www.boeing.com

Bombardier's Learjet 75 continues to achieve its development milestones with the first powering-up of the aircraft's electrical systems on the Wichita production line. Aircraft power, including to the new Bombardier Vision flight deck, was switched on in late August, as the aircraft progresses towards its 2013 entry-into-service. / More from www.bombardier.com

Dassault Falcon has launched Dassault Falcon Aircraft Services China, a dedicated program with Shanghai Hawker Pacific at Shanghai’s Hongqiao International Airport. The program is staffed by a team of Dassault technicians with an average experience of 10 years on Falcon business jets and specifically trained for Falcon 2000EX EASy, Falcon 900EX as well as Falcon 7X models. / More from www.dassaultfalcon.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

LATITUDE STRETCHES LEGS, TEN QUICKENS PACE CESSNA’S IN-DEVELOPMENT MODELS PROGRESSING WELL  Cessna announced at the Latin American Business Aviation Conference and Exhibition (LABACE) that it has increased the range capability of its planned new midsize jet, the Citation Latitude, once again. The Latitude was originally announced to have an expected range of 2,000 nautical miles, but through customer input and quality design and engineering, the Latitude is now expected to have a maximum range of 2,500 nautical miles. The Citation Latitude will

offer Cessna's widest-yet passenger cabin with stand-up access throughout its length of more than 16 feet. Billed as a gamechanger in the mid-size segment, the Citation Latitude combines the payload, speed and range that customers want with an unmatched cabin experience at its price point ($14.9 million in 2011 USD). Scheduled for its first flight in mid2014 the Latitude is designed for a crew of two, plus up to eight passengers.

Embraer’s entry-level Phenom 100 recently received the Validation of Type Certificate issued by Civil Aviation Administration of China (CAAC). The Phenom 100 accommodates up to eight occupants. Its range of 1,178nm, with www.AvBuyer.com

In additional news concerning improvements to its product offerings, Cessna’s Citation Ten regains the crown as the fastest civil aircraft in the world with an increase of its maximum speed to Mach 0.935. Cessna announced this speed record recently with partner, Chip Ganassi Racing Teams (CGRT) and their owner Chip Ganassi at the GoPro Indy Grand Prix of Sonoma in Sonoma, California. / More information from www.cessna.com

NBAA IFR fuel reserves, means the aircraft is capable of flying non-stop from Beijing to Tokyo; New York to Miami; and from London to Tunis (as examples). / More from www.embraerexecutivejets.com

▼

Associated Air Center has signed an agreement for the maintenance and interior refurbishment of a Boeing Business Jet (BBJ) for a West African Head of State. The customer is a repeat customer.

continued on page 30 Aircraft Index see Page 4

Guardian Jet 3 page October 17/09/2012 15:21 Page 1

AIRCRAFT FOR SALE FOR MORE INFO VISIT WWW.GUARDIANJET.COM OR CALL 203-453-0800

2005 Global Express SN 9141 Airframe TT - 3831.4 $29,995,000 * Enrolled on Rolls Royce Corporate Care Program * Honeywell 2000 XP Integrated Avionics System * Primus 880 Color Wx Radar w/Lightning Sensor System * Third Flightdeck Seat * Securaplane Security & Camera System

Photos by FGL & Associates

2008 Dassault Falcon 7X SN 7X-18 Airframe TT - 1781.5 $40,995,000 * P&W Eagle Service Plan * Honeywell EASy System * Triple Honeywell FMS Functions * Honeywell Primus WU-880 RX/TX/ANT Color Weather Radar System * One Owner since new

Photos by FGL & Associates

2002 Falcon 900EX SN 110 Airframe TT - 6155.2 $18,250,000 * Honeywell Primus 2000 * Pilot & Co-Pilot EVAS Systems * Aircell ATG4000 High Speed Internet Broadband System * New carpet installed July 2012 * One Fortune Owner Since New

Photos by FGL & Associates

1996 Gulfstream G-IVSP SN 1301 Airframe TT - 7904.7 $10,995,000 * Honeywell SPZ-8400 system * Engines enrolled on Rolls Royce Corporate Care * Securaplane 450 Security System * Magnastar C2000 * Single Fortune 100 Owner Since New

Photos by FGL & Associates

Tel: 203-453-0800

Fax: 203-453-4527

Email: Guardian@guardianjet.com

www.guardianjet.com

Guardian Jet 3 page October 17/09/2012 15:23 Page 2

AIRCRAFT FOR SALE FOR MORE INFO VISIT WWW.GUARDIANJET.COM OR CALL 203-453-0800

2004 Falcon 2000 SN 218 Airframe TT - 1631.7 $11,750,000 * Enrolled in CAMP Maintenance Tracking Program * One Owner Since New * Collins Proline IV (4 tube) Avioncs Suite with 6.1 Software Upgrade * Third Flightdeck Seat * Airshow Genesys

Photos by FGL & Associates

2006 Agusta AW139 SN 31061 Airframe TT - 516.1 $9,995,000 * Honeywell Primus Epic System/FMS * XM Weather System * Emergency Flotation System with Rigid Covers * One Owner since New * Engines enrolled in MSP Gold

Photos by FGL & Associates

1999 Falcon 2000 SN 86 Airframe TT - 6471 $8,750,000 * Engines enrolled in CSP * Collins EFIS-4000/ Pro Line 4/ Version 6.1 * Collins TWR-850 Weather Radar System * HUD * Wireless Broadband (GoGo Biz) â&#x20AC;&#x201C; ATG-4000

Photos by FGL & Associates

2008 King Air B200GT SN BY-40 Airframe TT - 498 $3,950,000 * Collins ProLine 21 and Integrated Flight Information System * RVSM Ops Capable * Raisbeck Crown Nacelle Wing Lockers * Raisbeck Dual Aft Body Strakes * One owner since new, always hangared

Photos by FGL & Associates

Tel: 203-453-0800

Fax: 203-453-4527

Email: Guardian@guardianjet.com

www.guardianjet.com

Guardian Jet 3 page October 17/09/2012 15:24 Page 3

AIRCRAFT FOR SALE FOR MORE INFO VISIT WWW.GUARDIANJET.COM OR CALL 203-453-0800

1999 Sikorsky S76C+ SN 760499 Airframe TT - 2865 $3,495,000 * Honeywell SPZ 7600 System * Aircell ST3100 Iridium SATCOM * Enrolled in CALM Maintenance Tracking * Moving Map â&#x20AC;&#x201C; ARGUS 7000/CE * Single Honeywell Primus 800 Weather Radar

Photos by FGL & Associates

2006 Cessna CJ1+ SN 0610 Airframe TT - 655.8 $3,100,000 * Collins Pro Line 21 Avionics System * Engines enrolled in Williams TAP Elite * WX-1000E Lightning Detection * Mode S Diversity Transponders with Enhanced Surveillance capability * One Owner Since New

Photos by FGL & Associates

2009 Citation Mustang SN 510-215 Airframe TT - 497.8 $2,345,000 * Engines enrolled in Cessna's PowerAdvantage+ Program * Garmin G1000 advanced avionics system * RVSM Capable * XM Satellite Radio * Two Fortune Owners since new

Photos by FGL & Associates

Tel: 203-453-0800

Fax: 203-453-4527

Email: Guardian@guardianjet.com

www.guardianjet.com

Avjet October 18/09/2012 17:21 Page 1

World Headquarters Marc J. Foulkrod Chairman and Chief Executivve OfďŹ cer info@avjet.com Phone: +1 (818) 841-6190

Global Sales & Acquisitionss Andrew C. Bradley Senior Vice President, Global Sales S and Acquisitions andrew@avjet.com Phone: +1 (410) 626-6162

Charter & Management Mark H. Lefever President charter@avjet.com Phone: +1 (818) 841-6190

AV VJET T.COM

Avjet October 18/09/2012 17:22 Page 2

AV VJET T.COM

Global Sales & Acquisitionss Andrew C. Bradley Senior Vice President, Global Sales S and Acquisitions andrew@avjet.com Phone: +1 (410) 626-6162 Charter & Management Mark H. Lefever President charter@avjet.com Phone: +1 (818) 841-6190

World Headquarters Marc J. Foulkrod Chairman and Chief Executivve OfďŹ cer info@avjet.com Phone: +1 (818) 841-6190

Avjet October 18/09/2012 17:22 Page 3

World Headquarters M J Marc J. FFoulkrod lk d Chairman and Chief Executive OfďŹ cer info@avjet.com Phone: +1 (818) 841-61990

t 4FSJBM /VNCFS t /FWFS $PNQMFUFE t 4FWFO 5BOL $POmHVSBUJPO t *NNFEJBUFMZ "WBJMBCMF

Global Sales & Acquissitions Andrew C. Bradley Senior Vice President, Global G Sales and Acquisitions andrew@avjet.com d @ j Phone: +1 (410) 626-61622 Charter & Managemen nt Mark H. Lefever President charter@avjet.com Phone: +1 (818) 841-61990

AV VJET T.COM

Avjet October 18/09/2012 17:23 Page 4

987 GU

O'Gara October 18/09/2012 17:47 Page 1

O'Gara October 18/09/2012 17:47 Page 2

CFM Phenom Oct 20/09/2012 10:05 Page 1

â&#x20AC;&#x2DC;Motivated Sellerâ&#x20AC;&#x2122; One of the nicest Phenom 100s on the market!

JSSI Premium, EEC Enhanced Airframe Program Boasting a customized entertainment system with Rosen In-Flight Entertainment System with DVD, "In the four years I've been part of the Phenom community I've never seen anything like it, or even heard of anything close!" --Ron, Phenom Owner/Enthusiast. XM Radio, SATCOM, Wireless Headphones, Custom Cabin Management System, Alto Loudspeakers and Subwoofer and WiFi LAN for priority text communication. You will only find a comparable factory installed system on a Phenom 300 Prodigy Flight Deck with TCAS I and TAWS, Weather Radar and Jeppesen Chart View This premium aircraft has less than 1000 hours since new!

Contact Corporate Flight Management for details at aircraftsales@flycfm.com or call 615-669-9393. Visit www.flycfm.com today! Corporate Flight Management 276 Doug Warpoole Road Smyrna, TN 37167 USA

CFM corporate page Oct 20/09/2012 10:07 Page 1

SOLD

1977 FALCON 10, N23VP $650,000 USD

2007 PREMIER 1A, N36HZ

DEAL PENDING

2000 DORNIER 328 JET, N401FJ $4,995,000 USD

1987 BAE JETSTREAM 31, N743PE $525,000 USD

1996 BAE JETSTREAM 41, N564HK INQUIRE

2004 CIRRUS SR-22, N289SB $189,000 USD

Our professionals have accumulated nearly a century of experience acquiring and marketing aircraft for clients across the nation and worldwide. We apply our extensive research and negotiating skills to arrange deals that ensure positive results for both parties. This "Client First" approach has contributed to building ongoing relationships and repeat business. CFM has over 30 years of operating and maintaining a variety of Jet, Turboprop, and Piston aircraft. With extensive experience in maintenance and charter, we offer a unique ability to evaluate and provide "real world" data for buyer and sellers. CFM is far more than your average broker!

Visit us: www.flycfm.com/aircraft-sales Contact us: 615-669-9393 or aircraftsales@flycfm.com Corporate Flight Management 276 Doug Warpoole Road Smyrna, TN 37167 USA

BusAviationNewsNew Oct12_Layout 1 18/09/2012 14:38 Page 2

BizAv Round-Up Eurocopter and Tianjin Free Trade Zone recently inked an MoU to explore the

GULFSTREAM G280

creation of a completion and customization center for Eurocopter’s Ecureuil family of light helicopters there through a joint venture. Eurocopter intends to expand its local footprint in China. / More from www.eurocopter.com

GAMA (General Aviation Manufacturers Association) has added Flight Design and Sandel Avionics to its Membership. The Association now has 78 member companies worldwide. / More from www.gama.aero

/ More from www.jetbrokerseurope.com

Kestrel Aircraft has secured a $30 million federal tax credit package to assist the company’s presence in Superior, Wisconsin. The funding is the first of three such allocations planned for Kestrel through the New Market Tax Credit program, and part of a $118 million package of local, state and federal incentives announced earlier this year. The company anticipates certification of its turboprop single in three years, having recently completed a fullscale fuselage mock-up that incorporates several changes from the original prototype built by Farnborough Aircraft. / More from www.kestrelaircraft.aero

Lufthansa Technik has begun work on the customized completion of a VIP version of the latest-generation jumbo jet, the Boeing 747-8 VIP. The aircraft, belonging to an undisclosed customer, landed in Hamburg in August and the engineers now begin with the installation of a cabin interior that incorporates the ultimate in interior design. This makes Lufthansa Technik the first company in the world to fit out for a private customer what is currently the longest commercial aircraft. The aircraft is expected to be delivered in the summer of 2014. / More from www.lufthansa-technik.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

GULFSTREAM HOOKS A STRING OF TCs ...AND RECEIVES PRODUCT SUPPORT RECOGNITION  Gulfstream Aerospace received Type Certifications its G280, G550 and G650 aircraft recently. The G280 has earned type certificates from the U.S. Federal Aviation Administration (FAA) and the Civil Aviation Authority of Israel (CAAI). The certificates verify the airworthiness of the aircraft’s design and are among the final steps required before Gulfstream delivers the first fully outfitted G280 to a customer. The G550 Type Certificate was received from

the South African Civil Aviation Authority. In addition to South Africa, nearly 30 other countries and regions have already certified the G550. Meantime, Gulfstream’s ultra-largecabin, ultra-long-range Gulfstream G650 has received a type certificate from the Federal Aviation Administration (FAA). Gulfstream expects to deliver the first fully outfitted G650 business jets to customers before year-end. To date, the company has received more than 200 orders for

Nextant Aerospace announced that Singapore-based air charter firm Asia Pacific Jets placed an order for 10 Nextant 400XTs. At list prices, the order is worth more than $40 million. All 10 aircraft will be delivered to Asia Pacific Jets over the next three years, with some outfitted as air ambulances and the rest as traditional business jets. In addition, Nextant Aerospace delivered its 16th 400XT business jet to a private buyer (located in the Czech Republic). The airplane will be managed by Time Air, a Czech Republic-based provider of charter and aircraft acquisition and management services. The delivery marks the first 400XT that will be accepted for European registration.

the aircraft. In additional Gulfstream news, the OEM was recently honored by two leading aviation trade publications for having the best product support organization in business aviation. For the 10th consecutive year, Gulfstream was voted number one in the AIN annual product support survey, and it also received the top ranking from Professional Pilot for the 12th time in the last 15 years. / More information from www.gulfstream.com

West Star Aviation recently joined the network of authorized dealers for the BLR Aerospace Super King Air Winglet System and associated products, giving West Star the authorization to provide and install these BLR products on King Air 90, 200, and 300 series aircraft. / More from www.weststaraviation.com

▼

JetBrokers Europe, headquartered at Farnborough Airport recently enjoyed itsbusiest ever sales period with a total of four deal completions in as many weeks. A further three completions are expected to close this month. The summer transactions include a Citation Sovereign 680-216 which was delivered to a US buyer, King Air 350 FL-0477 also headed to the US, whilst a TBM700B stayed in the UK. Completing the sale line up was Premier I RB048 which has relocated to Thailand. One of the key differentiators for JetBrokers Europe is the support of JetBrokers Inc, its US-based partner. Together the two companies share a sales inventory of around 40 aircraft at any one time and are able to offer a truly global contact network.

/ More from www.nextantaerospace.com

www.AvBuyer.com

continued on page 36 Aircraft Index see Page 4

TELL US YOUR DESTINATION. WE’LL NAVIGATE THE JOURNEY.

2005 Citation CJ1: 525-0546 Total Time: 1,717 $2,495,000

2007 Legacy 600: 145-1007 Total Time: 6,087 $10,995,000

2005 Hawker 800XP: 258690 Total Time: 5,832 $3,995,000

1999 Hawker 800XP: 258413 Total Time: 11,986 $1,995,000

AVIATION SOLUTIONS AS GLOBAL AS YOUR BUSINESS. Capitalize on a world of opportunity with Sojourn Aviation. Our acquisition, sales and consulting services – as well as a broad selection of aircraft – will guide you to the ideal solution. We can also help you finance your acquisition at terms that fit your needs. And our international distribution network gives you broader exposure whether you’re buying or selling. No matter where your travels lead, we’ll be with you from start to finish.

For more aircraft listings, visit SojournAviation.com or call 316.733.6500.

28288 Sojourn Branding_WorldAircraftSales09142012.indd 1

9/14/12 10:09 AM

Client: Sojourn Ad Title: AVIATION SOLUTIONS AS GLOBAL AS YOUR BUSINESS Publication: World Aircraft Sales - September 2012 Trim: 205 mm x 270 mm • Bleed: 211 mm x 276 mm • Live: 185 mm x 246 mm

JetBrokers October 17/09/2012 15:17 Page 1

2007 Gulfstream G200, S/N 175, 1333 TT, ESP Gold, Autothrottles, SATCOM, Honeywell DFDR, Ten Passenger Interior, Asking $10,950,000.00

2009 Citation Sovereign, S/N 680-0276, 604 TT, Airshow 4000, JAR Ops, Ten Passenger, L/R O2, Pro Parts, Asking $12,900,000.00

1989 Falcon 900B, S/N 071, 9464 TT, MSP Gold, 4C c/w Nov 11 by Duncan, 12 pax Interior, Triple IRS’, Asking $8,695,000.00

1998 Falcon 50EX, S/N 268, 4078TT, MSP, Dual UNS-1C’s, EU Ops, 2C and Gear c/w 4/10, Dual Laserefs, TCAS 2, TAWS-A, Asking $6,200,000.00

1992 Falcon 50, S/N 227, 7072.6 TT, Engines on MSP, C Check c/w 9/10, Gear O/Hed 12/03, Aft Lav, TCAS 2, Nice Paint and Interior, Asking $3,200,000.00

1980 Falcon 50, S/N 010, 7977 TT, JSSI, Collins FDS-2000 EFIS, TCAS II, Dual UNS-1F w/ WAAS, C&CPCP c/w 3/09, Gear O/H in 2/12, Asking $2,200,000.00

1983 Challenger 601-1A, S/N 3013, 11,579 TT, Engines on GE On-Point, Landing Gear O/Hed 3/12, 60 M/CPCP c/w 11/11, APU on MSP, Price Reduced to $2,550,000.00

1968 Falcon 20C-5AR, S/N 142, 13,677 TT, 1313/981 TSC, RVSM, No TR’s, GNS-XLS, T62-40 APU, Asking $825,000.00

Also Available Citation V, S/N 560-0059 Citation Bravo, S/N 550B-0891 Citation Bravo, S/N 550B-0871 Citation II/SP, S/N 551-0039 Citation II, S/N 550-0326 Citation II, S/N 550-0216

Citation II, S/N 550-0127 Citation II, S/N 550-0094 Citation II, S/N 550-0082 Citation CJ2, S/N 525A-0016 Citation Jet, S/N 525-0255 Citation Stallion, S/N 501-0317 Falcon 20F-5BR, S/N 430 Gulfstream G200, S/N 213

Gulfstream GIISP,S/N 206 Hawker 800XP, S/N 258674 Hawker 800XP, S/N 258503 Hawker 700A, S/N 257010 Hawker 400XP, S/N RK-411 Socata TBM700C1, S/N 244 Socata TBM700B, S/N 232

JetBrokers October 17/09/2012 15:18 Page 2

2009 Embraer Phenom 100, S/N 500-00091, 22 TSN, Engines on ESP Gold, Entertainment Package, AFIS, Asking $2,950,000.00

2000 Citation Excel, S/N 560XL-5137, 8684.3 TT, Engines on ESP Silver, Ext. Lav Service, Single Pt Refueling, TCAS 2, TAWS-A, Asking $4,650,000.00

1988 Beechjet 400, S/N RJ-47, 4135.5 TT, 522.8 SMOH, TR’s, Freon, Gear O/H c/w 9/10, AB c/w at 4135.5 TT (7/12), Exc Paint and Interior, Asking $875,000.00

1981 Citation II, S/N 550-0295, 38440.7 TT, 2145.7/1891.3 SMOH, 360.5/97.4 SHSI, TR’s, Freon, Garmin 530/430’s, RVSM, Asking $700,000.00

2008 Socata TBM850, S/N 440, 1007 TT, Garmin Glass Cockpit, TCAS, TAWS, Delivered with Fresh 1200 Hr, Asking $2,495,000.00

1977 King Air 200XPR Blackhawk, S/N BB-226, 7678 TT, 1193 TSN on -61 Engines!, Dual Garmin 430W, Skywatch, Raisbeck Performance Mods, Price Reduced to $1,450,000.00

2010 King Air 350i, S/N FL-689, 450 TT, Venue Cabin Mgmt – Aircell Axxess II, TCAS 2, Hi-def Video Displays, L3 ESIS, Price Reduced to $5,900,000.000

2008 King Air C90GTi, S/N LJ-1902, 1356 TT, Pro-line 21 w/ IFIS, One Owner, Engine Fire Ext., Skywatch, Price Reduced to $2,450,000.00

AUSTIN +1-512-530-6900 Phone DETROIT +1-248-666-9800 Phone

ST. LOUIS +1-636-532-6900 Phone

Email: jetbroker@jetbrokers.com

CHICAGO +1-630-377-6900 Phone FARNBOROUGH +44 (0)1252 52 62 72 Phone

Web: www.jetbrokers.com

Freestream L/H page Sept 23/08/2012 12:20 Page 1

FREESTREAM AIRCRAFT LIMITED SALES & ACQUISITIONS

Boeing BBJ/28579

Boeing BBJ/29273

Boeing BBJ/30076

Boeing BBJ/36714

Falcon 900EXy Serial Number 181 • Airframe: 2490.3 Hours • Landings: 949 Global XRS/9195 • Engines on Trend Monitoring Program • Engine on Honeywell MSP Gold Program • Fresh Engine MPI's • APU on Honeywell MSP Gold Program • Honeywell Primus Epic EASy 4-tube • Honeywell "EASy" Communications Management Function (CMF) Gulfstream G450 2Q 2012 • Triple Honeywell FMS • EGPWS w/Windshear • Thrane & Thrane Aero HSD+ SATCOM w/EMS Antenna • Airshow 410 Cabin Display System • 14 passenger interior • Fwd & Aft lavatories Hawker 850XP/258812

Gulfstream G550/5025

Gulfstream GV/512

Hawker 850XP/258812

FREESTREAM AIRCRAFT LIMITED

FREESTREAM AIRCRAFT USA LTD

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

London +44 207.584.3800 sales@freestream.com

New York 201.365.6080 aircraftsales@freestream.com

Hamilton, Bermuda +441.505.1062 sales@freestreambermuda.bm

www.freestream.com

Freestream R/H page Sept 23/08/2012 12:21 Page 1

FREESTREAM AIRCRAFT LIMITED SALES & ACQUISITIONS

Boeing BBJ/28579

Boeing BBJ/29273

Boeing BBJ/30076

Boeing BBJ/36714

Global XRS/9195

Hawker 850XP/258812

Gulfstream G450 2Q 2012

Gulfstream GV/512

Challenger 850ER/8051

Challenger 605/5704

FREESTREAM AIRCRAFT LIMITED

FREESTREAM AIRCRAFT USA LTD

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

London +44 207.584.3800 sales@freestream.com

New York 201.365.6080 aircraftsales@freestream.com

Hamilton, Bermuda +441.505.1062 sales@freestreambermuda.bm

www.freestream.com

BusAviationNewsNew Oct12_Layout 1 18/09/2012 14:44 Page 3

BizAv Arrivals John Bullis - has been appointed by Universal Avionics, as regional sales manager of Northern Europe. Mr. Bullis is based out of London, U.K. and responsible for the overall growth and development of Universal Avionics’ product sales in the Northern European region. Robert E. Breiling – is to receive the 2012 NBAA John P. “Jack” Doswell Award. Breiling will receive his award during NBAA’s 65th Annual Meeting & Convention, to be held Oct. 30 to Nov. 1 in Orlando, FL, at the Orange County Convention Center and Orlando Executive Airport.

Kurt Edwards - was appointed by the International Business Aviation Council (IBAC) in September as its new director general. IBAC is the international non-governmental organization (INGO) that represents the interests of Business Aviation operators from around the world in international forums, primarily ICAO (the International Civil Aviation Organization).

Jena Longo – has joined The General Aviation Manufacturers Association (GAMA) as its new director of Communications. Longo comes to GAMA from the Senate Commerce, Science, and Transportation Committee where she has been the deputy communications director since 2009.

Carlo Montanini - FlairJet, the London Oxford Airport-based business charter operator has appointed Montanini to a new role as commercial director. He previously served as commercial director Northern Europe for Austrian-based Cessna Mustang operator, GlobeAir.

Allan Orsi - Duncan Aviation has named Orsi regional manager in Brazil. Orsi will travel the region meeting aircraft operators, management organizations and other service providers with the goal of maintaining and building relationships within the region.

BizAv Events

CENTRAL EUROPE PRIVATE AVIATION EXPO (CEPA) Nov 29 – 30 Prague, Czech Republic

AUSTRALIAN INT’L AIRSHOW – AVALON Feb 26 – Mar 3 Geelong, Victoria, Australia

/ www.cepa.aero

/ www.airshow.net.au

AEROMART TOULOUSE Dec 4 – 6 Toulouse, France

NBAA: BUSINESS AVIATION REG FORUM Feb 28 Long Beach, CA, USA

/ www.bciaerospace.com

HAI HELI-EXPO Mar 4 - 7 Las Vegas, NV, USA

/ www.conklindd.co

/ www.rotor.com/heliexpo

GENERAL AVIATION IN THE MIDDLE EAST Dec 5 – 6 Dubai, UAE

NBAA: INTERNATIONAL OPERATORS CONF Mar 4 – 7 San Diego, CA, USA

/ www.miuevents.com

MEBA 2012 MIDDLE EAST BUSINESS AVIATION Dec 11 –13 Dubai, UAE / www.meba.aero

2013 U.S. SPORT AVIATION EXPO Jan 17 – 20 Sebring, FL, USA / www.sport-aviation-expo.com

AIRCRAFT INTERIORS MIDDLE EAST (AIME) Jan 22 – 23 Dubai World Trade Centre, UAE / www.aime.aero

2012 / www.safetystanddown.com

AOPA AVIATION SUMMIT Oct 11 – 13 Palm Springs, CA, USA

AIRSHOW CHINA 2012 Nov 13 – 18 Zhuhai Guangdong, China / www.airshow.com.cn

/ www.adairexpo.com

INT’L GENERAL AVIATION INDIA Mar 7 - 10 Ahmedabad, India / www.biztradeshows.com

CYGNUS AVIATION EXPO Mar 12 - 14 Las Vegas, NV, USA / www.cygnusaviationexpo.com

WOMEN IN AVIATION CONFERENCE Mar 14 – 16 Nashville,TN, USA / www.wai.org

/ www.nbaa.org

/ www.businessairportworldexpo.com

NBAA: LEADERSHIP CONFERENCE Feb 12 – 13 Austin, TX, USA

BUSINESS JET INTERIORS Mar 19 – 21 Farnborough, UK

/ www.miuevents.com

/ www.dubaihelishow.com

ABU DHABI AIR EXPO Mar 5 - 7 Abu Dhabi, UAE

BUSINESS AIRPORT WORLD EXPO Mar 19 –21 Farnborough, UK

INDIAN BUSINESS AVIATION EXPO Feb 19 – 20 Delhi, India SAFETY STANDDOWN-USA Oct 8 - 11 Wichita, Kansas, USA

/ www.nbaa.org

NBAA: AIRCRAFT REGISTRATION CONFERENCE Feb 7 – 8 Bonita Springs, FL, USA

/ www.nbaa.org

HELISHOW DUBAI Nov 6 – 8 Dubai, UAE

/ www.nbaa.org

AIRCRAFT ACQUISITION PLANNING SEMINAR Dec 5 – 6 Scottsdale, AZ,USA

/ www.businessjetinteriors.com

ASIAN BUSINESS AVIATION Mar 19 – 21 Hong Kong / www.reedexpo.co.uk

AVIONICS EUROPE Feb 20 - 21 Munich, Germany

AEA (AIRCRAFT ELECTRONICS ASSOCIATION CONVENTION) Mar 25 – 28 Las Vegas, NV, USA

/ www.avionics-event.com

/ www.aea.net

Events in RED indicate Business Aviation related. If you would like your event included in our calendar email: sean@avbuyer.com

/ www.aopa.org

NBAA: MEETING & CONVENTION Oct 30 – Nov 1 Orlando, FL, USA / www.nbaa.org

WORLD AIRCRAFT SALES MAGAZINE – October 2012

Find an Aircraft Dealer The World’s leading aircraft dealers and brokers - find one today

www.AvBuyer.com

avbuyer.com/dealers continued on page 40 Aircraft Index see Page 4

Bristol Associates October 17/09/2012 15:27 Page 1

Acquisitions * Appraisals * Consulting * Remarketing Challenger 605 sn 5711

Price Newly Reduced

Gulfstream IV sn 1124

Gulfstream V sn 627

New to Market! Boeing BBJ sn 30496

Boeing 757 sn 29306

+1 (202) 682-4000 bristol@bristolassociates.com www.bristolassociates.com

Main Office

Bell Aviation West

Colorado (GJT) 970.243.9192 / 970.260.4667 cell

South Carolina (CAE) 803.822.4114 e-mail: mail@bellaviation.com

Bell Aviation Texas

Dallas, Texas 214.904.9800 / 214.952.1050 cell

Aircraft Sales & Acquisitions

Falcon

Challenger

2011 Falcon 7X | 111

Citation Excel

1985 Challenger 601-1A | 3044

Citation XLS+

2002 Citation Excel | 560-5288

Citation Ultra

2009 Citation XLS+ | 560-5060

Citation S11

1996 Citation Ultra | 560-0366

Citation 11

1985 Citation SII | S550-0041

Citation 11

1994 Citation II | 550-0732

Citation 11

1981 Citation II | 550-0286

Citation CJ3

1979 Citation II | 550-0047

2006 Citation CJ3 | 525B-0073

For full specs & additional photos, please visit our website at www.BellAviation.com

Main Office

Bell Aviation West

Colorado (GJT) 970.243.9192 / 970.260.4667 cell

South Carolina (CAE) 803.822.4114 e-mail: mail@bellaviation.com

Bell Aviation Texas

Dallas, Texas 214.904.9800 / 214.952.1050 cell

Aircraft Sales & Acquisitions

Citation 1SP

Learjet 45

2004 Learjet 45 | 45-250

Citation 500 Eagle

1973 Citation 500 Eagle | 500-0130

King Air B200

1982 Citation ISP | 501-0255

Beechjet

Also Available: 501-0229

1992 Beechjet 400A | RK-36

King Air 200

1983 King Air B200 | BB-1140

King Air 200

Also Available: RK-107

1979 King Air 200 | BB-545

King Air E90

1976 King Air 200 | BB-169

Conquest

1976 King Air E90 | LW-186

Meridian

1980 Conquest II | 441-0116

2008 Piper Meridian | 4697324

For full specs & additional photos, please visit our website at www.BellAviation.com

BusAviationNewsNew Oct12_Layout 1 18/09/2012 14:48 Page 4

Market Indicators Brifo View It’s been tough going for the general aviation industry, with worldwide business jet deliveries plunging to half their 2008 peak. “It could have been worse if it weren’t for a few pockets of strength in some developing parts of the world”, notes industry analyst and advisor Brian Foley. “But by now those 'mercy sales' have largely run their course, so the industry must once again rely on its traditional primary market, the United States, as the mainstay of its recovery. “Fortunately for both jet makers and their supply chains, that seems to be exactly what's happening, right on cue." Industry observers will remember that much of the initial business jet delivery falloff was laid to the abrupt and nearly complete cessation of sales in economically battered North America (representing some 50% of worldwide sales) and Europe (representing 25%). “So the two largest markets became partners in pain, shadows of their former selves for almost four years now as buyers postpone purchases amidst economic uncertainty.” Foley notes that other markets, most notably China, provided some relief during this difficult period. “The country was flush with cash and desirous of the industry’s biggest, most expensive offerings. It was a conveniently timed mini-rescue, a nice shot in the arm at a critical moment, but now it's starting to slow down. Chinese GDP is almost halved from 2010 and its stock market is at its lowest in three and a half years. Jet manufacturers have now shifted from sales mode to order preservation.” Latin America and the Middle East also helped take up the slack for North America and Europe, but not in sufficient volume. Accordingly, some jet makers have had to reduce their workforces; in the worst case by roughly half. At a time like this, asks Foley, wouldn't it be great for some white knight to come along and prevent the industry from sliding further backwards? Now the greater North 40

WORLD AIRCRAFT SALES MAGAZINE – October 2012

Argus View Pak data shows a modest increase in business aircraft flights, up 2.0% overall. Results by operational category were once again led by Part 91 flight activity, up 2.7% year-over-year. The Part 135 market also posted a year-over-year increase, up 2.2%. The Fractional market segment flight activity saw a slight decrease for the period, down -1.0%. Looking at activity by aircraft category; all sectors finished the period mainly positive with the exception of large cabin jets, which finished down 0.5%. The turboprop sector posted the largest year-over-year increase, up 2.7%. That was followed closely by small and mid-size cabin aircraft which finished up 2.1% and 1.8% in that order. Looking at individual market segments the fractional large cabin market posted the largest year-over-year increase up 12.4%, while the fractional mid-size cabin market showed the largest decline, down -4.5%.

ARGUS saw an increase in flight activity month-over-month and year-over-year for August 2012. TRAQPak data shows that August 2012 business aircraft flight activity recorded a 5.7% increase over July 2012. The results by operational category were all positive from the previous month led by Part 91 flight activity which posted a 6.6% month-over-month increase. Fractional and Part 135 flight activity finished up 5.1% and 4.3% respectively. Aircraft category results were also positive for the month with mid-size cabin jets posting the largest month-overmonth increase, up 9.3%. Small and large cabin jet flight activity also saw increases of 5.1% and 3.6% respectively. Looking at individual market segments the Part 91 mid-size cabin sector posted the highest month-over-month increase, up 12.7%; Part 135 large cabin jets saw the only month-over-month decrease, finishing the month down -2.6%. Reviewing year-over-year activity (August 2012 vs. August 2011), TRAQ-

/ More from www.aviationresearch.com

Business Aircraft Activity August 2012 vs. July 2012

TRAQPak

Part 91

Part 135 Fractional

All

Turbo Prop

3.8%

3.6%

6.7%

4.0%

Small Cabin Jet

6.2%

2.2%

8.9%

5.1%

Mid-Size Cabin Jet

12.7%

11.1%

3.2%

9.3%

Large Cabin Jet

5.7%

-2.6%

7.4%

3.6%

All Aircraft Combined

6.6%

4.3%

5.1%

5.7%

Business Aircraft Activity TRAQPak

August 2012 vs. August 2011 Part 91

Part 135 Fractional

All

Turbo Prop

1.4%

5.1%

4.6%

2.7%

Small Cabin Jet

4.1%

0.1%

-2.6%

2.1%

Mid-Size Cabin Jet

7.6%

0.0%

-4.5%

1.8%

Large Cabin Jet

-3.9%

2.2%

12.4%

-0.5%

All Aircraft Combined

2.7%

2.2%

-1.0%

2.0%

www.AvBuyer.com

continued on page 46 Aircraft Index see Page 4

Eagle Creek October 18/09/2012 17:13 Page 1

2009 EMBRAER PHENOM 100 N59PW,, S/N 50000081, Price Reduced to $2,790,000! Only 330 Hours Since New, Enrolled on EEC Enhanced Airframe Program, N59PW JSSI Premium Engine Program and Still Under Factory Warranty, TCAS I, Garmin Synthetic Vision and Belted Potty

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Project3 25/09/2012 12:28 Page 1

Project3 25/09/2012 12:29 Page 1

Boutsen October 17/09/2012 15:33 Page 1

Boutsen October 17/09/2012 15:33 Page 2

BusAviationNewsNew Oct12_Layout 1 18/09/2012 14:52 Page 5

Market Indicators

/ More from www.BRiFO.com

JP Morgan View According to JP Morgan, recent data points are a downer. Second Quarter earnings offered no sign of recovering business jet demand, consistent with sluggish global growth and falling corporate profit expectations. Backlogs declined at Gulfstream, Cessna, Embraer (estimated), and Dassault (for 1H), and JP Morgan views backlog growth as a prerequisite for rising production rates on legacy platforms. Other data points are little better: used inventories have trended down this year but remain fairly high. Pricing has yet to bottomout, and flight ops are flat-to-down in the US and Europe. Even demand for large cabin aircraft is now showing some signs of weakness, particularly internationally. JP Morgan sees the cycle turning up eventually, and has built 18% unit growth into its delivery forecast for 2013 since it could happen fast - but a recovery does not appear imminent. JP Morgan says that Bombardier reports in August. June's NetJets deal for 100 Challengers (with 175 options) could make for a high order number, though it is unclear whether the backlog will include these orders. Global 5000 and 6000 demand has held up, but Gulfstream has seen large cabin demand tick down - mainly in Asia and this could affect Globals too. Learjet should remain weak, as BBD/B plans to halt Learjet 60 production this fall and adopt the Learjet 70/75 to replace the 40/45. Used inventory was found to be flat in July after improving 40 bps in 1H. Declines in Light (-30 bps) and Medium (-10 bps) jet inventories were offset by an increase for Heavy jets (+40 bps) last month. The "toddler and pre-K" fleet (aircraft 0-5 years old) has not fared particularly well recently, with estimated inventory remaining at 7.1% for June, or 20 bps above year-end. 46

WORLD AIRCRAFT SALES MAGAZINE – October 2012

JETNET View JETNET has released its July 2012 and the YTD 2012 results for the preowned business jet, business turboprop and helicopter markets. Highlighted in the Table below are key worldwide trends across all aircraft market segments comparing July 2012 to July 2011. The fleet “for sale” percentages for all market sectors were down in the July comparisons, with the largest drop in the business turboprops, down to 8.9% compared to 10% for July 2011. Continuing

the good news from last month, business jet sale transactions increased 7.7% YTD in July 2012 compared to 2011. They are selling in less time, six fewer days, as shown in our Worldwide Trends Table. However, business turboprops declined by -2.5%, whereas turbine and piston helicopters saw double-digit declines in YTD sale transactions, at -10.7% and -12.2% respectively. Business jet average asking price increased 2.6% for 2012 YTD compared to the same pe-

riod in 2011. However, the business turboprop market is the only market to show a decrease in average asking price— of -3.2% YTD compared to last year—and it is taking 28 days longer to find a buyer when viewing the average days on the market. Average days on the market for business turboprops is less than a year (346 days) compared to the other markets, which are averaging well over a year before selling. / More from www.jetnet.com

WORLDWIDE TRENDS Business Aircraft

JULY

Helicopters

Jets

Turbos

Turbine

Piston

For Sale

2,521

1,205

1,162

561

Fleet % For Sale 2012

13.5%

8.9%

6.3%

6.0%

Fleet % For Sale 2011

13.7%

10.0%

6.7%

6.5%

% Change For Sale

(-0.2)pt

(-1.1)pt

(-0.4)pt

(-0.5)pt

January to July 2012 Full Sale Transactions

1,299

767

717

538

Avg. Days on Market

377

346

424

381

$1.254

$1.393

$0.231

Avg. Asking Price - $USD M $4.819

YTD January to July 2012 vs 2011 Change - Transactions

7.7%

-2.5%

-10.7%

-12.2%

-6

2.6%

-3.2%

7.6%

3.6%

Change - Days on Market Change - Asking Price SOURCE: JETNET

Average asking price fell 0.5% in July, according to JP Morgan. YTD, prices are down -6.3% and are making a new bottom for this cycle after being flat or down sequentially for ten of the past thirteen months. By category, Light, Medium and Heavy jet prices were down -2.7%, -0.3% and -0.2% respectively. Flight ops remain weak. U.S. bizjet flight www.AvBuyer.com

ops were down 0.8% year-over-year in June, according to the FAA, and JP Morgan estimates they were flat for 1H after adjusting for the leap year. In Europe, take-offs and landings are declining more decisively, with a 4% year-over-year drop in 1H, including 2.6% for June. / More from www.jpmorgan.com

▼

American market seems neatly poised to save the day. As evidence, AMSTAT reports North American new business jet deliveries in the first half of 2012 rose 20% over the same period last year. An even bigger surprise is the apparent resurgence of sales in economically-torn Western Europe which surged 34% in the same time-frame, albeit from a smaller unit base. Some of this upsurge, Foley says, comes from pent-up demand that’s been building since 2008. "It's finally starting to manifest itself as real buyer action as confidence improves, just in time to reinforce the recovery and keep it from faltering,” Foley added.

continued on page 50 Aircraft Index see Page 4

Jet Collection September 20/08/2012 17:11 Page 1

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t (SFFO %FMJWFSZ .BZ t +"" 3FHJTUSBUJPO t (SFFO %FMJWFSZ .BZ t +"" 3FHJTUSBUJPO t t 6Q UP BVYJMJBSZ GVFM UBOLT t -POH 3BOHF GVFM TZTUFN 6Q UP BVYJMJBSZ GVFM UBOLT t -POH 3BOHF GVFM TZTUFN t t 'PSFJHO "WJBUJPO "VUIPSJUZ 'PSFJHO "WJBUJPO "VUIPSJUZ t t $PNQMFUJPO NBOBHFNFOU JODMVEFE $PNQMFUJPO NBOBHFNFOU JODMVEFE t t 'VMMZ DVTUPNJ[FE UP BDDPNNPEBUF CVZFS 'VMMZ DVTUPNJ[FE UP BDDPNNPEBUF CVZFS t t 0OMZ POF PO UIF NBSLFU 0OMZ POF PO UIF NBSLFU

t 'JOBODJOH "WBJMBCMF t #3 .PEJmDBUJPO t 64" #BTFE t 'JOBODJOH "WBJMBCMF t #3 .PEJmDBUJPO t 64" #BTFE t 3""4 1VMTFMJUFT t &OHJOFT BOE "16 PO .41 (PME t 3""4 1VMTFMJUFT t &OHJOFT BOE "16 PO .41 (PME t QBTTFOHFS DPOmHVSBUJPO 0QUJPO TFBUJOH t QBTTFOHFS DPOmHVSBUJPO 0QUJPO TFBUJOH t /FX FYUFSJPS QBJOU BOE SFGVSCJTIFE JOUFSJPS .BZ t /FX FYUFSJPS QBJOU BOE SFGVSCJTIFE JOUFSJPS .BZ t 'SFTI " # BOE $ JOTQFDUJPOT .BZ t 'SFTI " # BOE $ JOTQFDUJPOT .BZ

2008 LEARJET 60X 60XR XR S/N 60-342

2005 HA HAWKER AW WKER 800XPI S/N TBA

t t +"3 014 +"3 014 t t 1BTTFOHFS 93 &YFDVUJWF 'MPPSQMBO 1BTTFOHFS 93 &YFDVUJWF 'MPPSQMBO t t -PX UJNF -PX UJNF t t 0OF PXOFS TJODF OFX 0OF PXOFS TJODF OFX t t /P EBNBHF IJTUPSZ /P EBNBHF IJTUPSZ

t t &"4" &6 014 $FSUJmFE &"4" &6 014 $FSUJmFE t t &OHJOFT BOE "16 DPWFSFE CZ .41 (PME &OHJOFT BOE "16 DPWFSFE CZ .41 (PME t QBTTFOHFS DPOmHVSBUJPO t QBTTFOHFS DPOmHVSBUJPO t /P EBNBHF IJTUPSZ t /P EBNBHF IJTUPSZ

2002 EC130-B4 S/N N 3515

2007 EM EMBRAER MBRAER LEGACY 600 S/N 1 1451001 451001

+"3 014 t t +"3 014 t 1BSU &"4" DPNQMJBOU t 1BSU &"4" DPNQMJBOU t t 6TFE POMZ GPS QBTTFOHFS USBOTQPSU 6TFE POMZ GPS QBTTFOHFS USBOTQPSU t t 0OF PXOFS TJODF OFX 0OF PXOFS TJODF OFX

t +"3 014 t +"3 014 t t 4UFFQ BQQSPBDI 4UFFQ BQQSPBDI t t 8J 'J 8J 'J t t -PX UJNF -PX UJNF t t 6QHSBEFE "16 6QHSBEFE "16

SpeciямБcations and/or descriptions ar are e pr provided ovided as int introductory troductory information. They do o not constitute rrepreepresentations or warranties You should ely on your own inspectio inspection aircraft. craft. es of The Jet Collection. Y ou o sh hould rrely on of the air warrantie

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BusAviationNewsNew Oct12_Layout 1 18/09/2012 14:52 Page 6

Market Indicators Forecast International View The market for business jet aircraft is showing signs of recovery from the global economic downturn, according to the findings of the latest business jet aircraft research from Forecast International. Recent corporate profitability signals future market improvement. Surveys of aircraft operators indicate that considerable latent demand exists in the business jet aircraft market, and corporate cash reserves are high and ripe for re-equipping and upgrading aircraft fleets. This market study includes a year-byyear production forecast of business jet aircraft currently in production or expected to enter production within the next 10 years. These individual forecasts are the result of an exhaustive macro-level examination of the market as well as a micro-level bottomup analysis of individual business jets versus their direct and indirect competitors. This market study covers eight separate classes of business jet aircraft, including Very Light Jets (VLJs), light business jets, light medium business jets, medium business jets, super mid-size business jets, large business jets, long-range business jets, and airliner-type business jets. These classes of business aircraft are statistically analyzed individually, and a 10-year forecast for each aircraft within each of the different classes is provided in terms of both units and value. In the overall market, some business aircraft are powered by turbine- and pistonpowered propeller engines; this market study focuses strictly on turbofan-powered aircraft. The other types of business aircraft are covered in other Forecast International market intelligence reports. Unlike the market for large commercial jet transports and the market for regional transport aircraft the market for business jet aircraft has faced little competition from the up-and-coming Chinese manufacturing conglomerates COMAC and AVIC, or from the Russian aircraft manufacturers. The main players within this market remain Airbus; Boeing; Bombardier; Cessna; Dassault Falcon; Embraer; Gulfstream; Hawker Beechcraft and Honda.

Although the competition has not expanded in terms of number of manufacturers vying for market share, the number of models and configurations has grown significantly. Currently, this market report covers 12 manufacturers and encompasses 55 separate models of business jet aircraft within the eight classes. In developing its business jet forecast, Forecast International takes into consideration all relevant market factors and industry data. These include (but are not limited to) the volume of aircraft orders, letters of intent, and other types of purchase commit-

ments; OEM marketing strategies; changes in the business aircraft customer base (geographic and otherwise); historical and planned production rates; trends in aircraft capacity, performance, and operating efficiency; and the inventories of used aircraft for sale. In addition, economic trends are studied, including GDP growth, inflation, and corporate profitability. The report offers insight on the future of this ever-changing market, which has a forecast 10-year value of over $230 billion. / More from www.forecastinternational.com

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Aircraft Index see Page 4

Eagle October 19/09/2012 09:51 Page 1

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AirCompAnalysisOct12_ACAn 18/09/2012 14:26 Page 1

AIRCRAFT COMPARATIVE ANALYSIS CESSNA CITATION XLS+

LEARJET 40XR

CESSNA CITATION XLS+

Cessna Citation XLS+ by Michael Chase n this month’s Aircraft Comparative Analysis, we provide information on the Cessna Citation XLS+. We’ll consider some of the productivity parameters - including payload, range, speed and cabin size, along with current market value. The field of study also includes Bombardier’s Learjet 40XR.

CHART A: IN-OPERATION MARKET SHARE (AUG 2012)

Total 201 Aircraft Citation XLS+

BRIEF HISTORY The Citation brand encompasses six distinct families of aircraft. The Excel, the Citation XLS and the Citation XLS+ comprise one of these families. In total 330 Citation XLS aircraft – which is the updated version of the Citation Excel - were built from 2003 to 2008. The XLS traveled faster and further than its predecessor and can climb to a maximum flight level of 45,000 feet with a better climb rate than the Excel. The XLS utilizes two Pratt & Whitney PW545B engines and a Honeywell Primus 1000 avionics suite.

WORLD AIRCRAFT SALES MAGAZINE – October 2012

45.0%

Learjet 40XR

55.0%

Total 570 Aircraft Citation XLS/XLS+

Learjet 40/40XR

23.0% 77.0%

SOURCE: JETNET

Then in 2008, the Citation XLS+ replaced production of the Citation XLS. New features included the fully integrated Collins Pro Line 21 avionics suite, which includes XM animated broadcast graphical weather and charts, and electronically controlled (FADEC) engines from Pratt & Whitney. Exterior and www.AvBuyer.com

interior restyling is also integrated into the new model - most prominently the extended contour of the nose and expanded seat widths. Certification for the Citation XLS+ came in the first quarter of 2008 with the first customer delivery in the final quarter of ❯ 2008. Aircraft Index see Page 4

Charlie Bravo October 17/09/2012 16:59 Page 1

2007 Legacy 600 S/N 14500998, 2600T 2600TT T Ho Hours ours

2010 Phenom 100 S/N 147, 265.8 Hours Hours,, EAS EASA SA C Configured onfigured

2003 Citation CJ1 S/N 525-0510, 3000TT

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Also AAvailable vailable 2001 Citation Citation C CJ2 J2 1999 Citation Citation X 1998 Learjet Learjet 60

1998 Cessna Cessna Citation Citation Jet 1990 King King Air Air B200

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Scan to Scan to view our full inventory inventory

SSALE SA SALES AALE AL LESS AND LES LE AAN ND N D ACQUISITIONS AAC ACQ ACQU CQ CQU QUISI QU QUI UIS ISSIT ISI ISIT SIT ITI TIO IO ON NSS N

AirCompAnalysisOct12_ACAn 18/09/2012 16:44 Page 2

AIRCRAFT COMPARATIVE ANALYSIS CESSNA CITATION XLS+

MARKET SHARE

TABLE A - PAYLOAD & RANGE Model

MTOW (lb)

Max Fuel (lb)

Max Payload (lb)

Avail Payload w/Max Fuel (lb)

Max Fuel Range (nm)

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

Citation XLS+

20,200

6,740

2,300

860

1,976

1,150

Learjet 40XR

21,000

5,375

2,050

1,925

1,684

1,367

DATA COURTESY OF CONKLIN & de DECKER, ORLEANS, MA, USA; JETNET; B&CA MAY 2012 & AUG 2012 OPERATIONS PLANNING GUIDE

CHART B - CABIN VOLUME

Chart A (preceding page) represents the inoperation aircraft Market Share as of August 2012 for the Citation XLS+ (55%) and the Learjet 40XR (45%) There are currently 201 total aircraft in operation for these two models. However, when you combine the Citation XLS and XLS+ and the Learjet 40 and 40XR, the Citation XLS/XLS+ enjoy a 77% market share of a total 570 deliveries. The data contained in Table A (left) is published in the B&CA, May 2012 issue, but is also sourced from Conklin & de Decker. As we have mentioned in past articles, a potential operator should focus on payload capability as a key factor. The Citation XLS+ ‘Available payload with Maximum Fuel’ at 860 pounds is half of that offered by the Learjet 40XR (1,925 lbs).

CABIN VOLUME Citation XLS+

461

363

Learjet 40XR 100

200

300

400

500

Cubic Feet

TABLE B - FUEL USAGE Fuel Usage (GPH)

Model

Citation XLS+

246

Learjet 40XR

217

CHART C - COST PER MILE* $4.26

Citation XLS+

$3.60

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

US $ per nautical mile *1,000 nm mission costs, 800lbs payload

WORLD AIRCRAFT SALES MAGAZINE – October 2012

POWERPLANT DETAILS The Citation XLS+ is powered by two Pratt & Whitney Canada PW545C engines, each offering a thrust rating of 4,119 pounds. The Learjet 40XR, meanwhile, is powered by a pair of Honeywell TFE731-20BR engines, each with a thrust rating of 3,500 pounds. Table B (left), sourced from the Aircraft Cost Calculator (ACC) shows the fuel usage by each aircraft model in this field of study. The Citation XLS+ - at 246 gallons per hour (GPH) - uses 29 gallons per hour (or 13.4% more fuel than the Learjet 40XR at 217 GPH).

COST PER MILE COMPARISONS

Source ACC - www.aircraftcostcalculator.com

Learjet 40XR

However, according to Conklin & de Decker, the cabin volume of the Citation XLS+ at 461 cubic feet is 27 percent larger than the Learjet 40XR aircraft (363 cubic feet), as shown in Chart B (left).

www.AvBuyer.com

Using data published in the May 2012 B&CA Planning and Purchasing Handbook and the August 2012 B&CA Operations Planning Guide we will compare our aircraft. The nationwide average Jet-A fuel cost in the August 2012 edition was $6.30 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 (left) details ‘Cost per Mile’, and compares the Citation XLS+ to the Learjet 40XR factoring direct costs, and with each aircraft flying a 1,000nm mission with 800 pounds (four passengers) payload. The Citation XLS+ cost at $4.26 per nautical mile is greater by $0.66 per mile, or 18% than the Learjet 40XR at $3.60. Aircraft Index see Page 4

AirCompAnalysisOct12_ACAn 18/09/2012 14:30 Page 3

AIRCRAFT COMPARATIVE ANALYSIS CESSNA CITATION XLS+

TOTAL VARIABLE COST COMPARISONS 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 Citation XLS+ at $1,837 has a 12.4% higher variable cost per hour compared to the Learjet 40XR at $1,634.

CHART D - VARIABLE COST Citation XLS+

$1,837

Learjet 40XR

$1,634

$1,000

$2,000

PRODUCTIVITY COMPARISONS

1. Range with full payload and available fuel; 2. The long-range cruise speed flown to achieve that range; 3. The cabin volume available for passengers and amenities. The result is a very large number so for the purpose of charting, each result is divided by one billion. The examples plotted are confined to the aircraft in this study. A computed curve fit on this plot would not be very tight, but when all business jets are considered the “r” squared factor would equal a number above 0.9. Others may choose different parameters, but serious business jet 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 Citation XLS+ aircraft, as shown in the productivity index Chart E, is highly productive, and has been popular with a higher market share percentage and delivered more aircraft after having started three years later (2008 vs 2005) than the Learjet 40XR. What will the future hold? Will the XLS+ model be upgraded, or will Cessna develop a brand new design? Bombardier has announced an upgrade on the Learjet 40XR in the form of the Learjet 70. It is assumed that to keep its competitive edge, Cessna will need to respond with an upgrade of its own. Our own findings indicate that such an upgrade may need to address areas of operating cost and possibly payload capability with full fuel among others. Table C (center, right) is the average preowned retail price from Vref for each aircraft ❯ Advertising Enquiries see Page 8

US $ per hour

CHART E - PRODUCTIVITY $16.0

Price (Millions)

The points in Chart E (right) center on the same two business jets and draw in the older Learjet 40 and Citation XLS for context. Pricing used in the vertical axis is as published in the B&CA 2012 Purchase Planning Handbook. The productivity index requires further discussion in that the factors used can be somewhat arbitrary. Productivity can be defined (and it is here) as the multiple of three factors.

Citation XLS+ $12.0

Learjet 40XR

$8.0

Citation XLS $4.0

Learjet 40

$0.0

0.200

0.150

0.250

0.300

0.350

0.400

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

TABLE C - COMPARISON TABLE Long Range Speed

Cabin Volume (Cu Ft)

Max P/L w/avail Fuel Range (nm)

Vref Retail Price $m

In Operation

% For Sale

Citation XLS+

373

461

1,150

$12.7m

110

5.5%

Learjet 40XR

433

363

1,367

$10.8m

12%

Model

Data courtesy of Conklin & de Decker, Orleans, MA, USA; JETNET; 2012 Operations Planning Guide B&CA Aug. 2012

TABLE D - AIRPORT PERFORMANCE

Model

TOFL*

TOFL**

Landing

Citation XLS+

3,560

5,430

4,738

Learjet 40XR

4,680

5,217

4,060

* SL Elev, ISA Temp, ** 5,000 ft @ 25 degrees C Source: B&CA magazine, Conklin & de Decker

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

AirCompAnalysisOct12_ACAn 19/09/2012 10:15 Page 4

AIRCRAFT COMPARATIVE ANALYSIS CESSNA CITATION XLS+

with the latest model produced. The last two columns of information show the number of aircraft in-operation, and the percentage “For Sale” from JETNET. It is interesting to note that with 110 aircraft in operation, only 5.5% of the XLS+ fleet is currently for sale (seller’s market). Conversely, out of a fleet of 91 Learjet 40XRs, 12% are for sale (traditionally a buyer’s market).

TABLE E - LOCATION BY CONTINENT (WHOLLY OWNED & SHARED) Citation XLS+ By Continent – August 2012 (Wholly Owned and Shared) Make/Model Citation XLS+ Fleet Percentage

Africa 4 4%

Asia 5 5%

Australia/ Oceania 0 0%

Europe 25 23%

North America 66 60%

South America 10 9%

Total 110 100.0%

Source: JETNET STAR Reports

AIRPORT PERFORMANCE The airport performance illustrated in Table D (previous page) includes airport landing and take-off field length (TOFL) for each aircraft.

LOCATION BY CONTINENT Table E, meanwhile, offers a breakdown of the location by continent for the WhollyOwned and Shared Citation XLS+ business jet. North America is home to the majority of the fleet, with 60% of the 110 XLS+ aircraft, followed by Europe at 23%. Currently, three Citation XLS+ aircraft are in shared ownership in North America, and there are none in fractional-ownership arrangements.

SUMMARY Within the preceding paragraphs we have touched upon several of the key attributes that business jet operators value. However, there are often other qualities such as service and support that factor in a buying decision, but are beyond the scope of this article. The Citation XLS+ business jet fares well against its competition - so those operators in the market should find the preceding comparison of value. Our expectations are that the Citation XLS+ business jet will continue to do very

well in the pre-owned market for the foreseeable future, but it’s worth keeping a watch on how the new aircraft market develops – specifically how Cessna responds to the launch of the Learjet 70.

❯ For more information:

Michael Chase is president of Chase & Associates, and can be contacted at 1628 Snowmass Place, Lewisville, TX 75077; Tel: 214-226-9882; Email: Mike@avbuyer.com Web: www.mdchase.com

TECHNICAL CONSULTANCY Gamits consultants and qualified engineering staff offer pre purchase inspections, aircraft modifications, refits and completion projects advice, full maintenance management and on site representation.

TECHNICAL SERVICES SUPPORT As approved by EASA Gamit offer CAMO engineering services including on-going engineering planning. Full back ofﬁce technical support to ensure your aircraft is safe and airworthy.

SPARE PARTS AND LOGISTICS SUPPORT Gamit is an aircraft spare parts stockist holding relationships with major OEM parts manufacturers and repair & overhaul workshops. Offering global supply chain including AOG support.

WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

TELEPHONE FACSIMILE EMAIL WEB

+44 (0)1279 818 800 +44 (0)1279 818 801 enquiries@gamit.co.uk www.gamit.co.uk

Aircraft Index see Page 4

Wright Brothers November 21/08/2012 12:01 Page 1

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BG 1 Jack_FinanceSept 18/09/2012 12:26 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Reject Optics, Recognize Reality Always remember Business Aviation’s basic value Possibly the world’s most recognized expert on the value of Business Aviation, Jack Olcott is a former Editor and Publisher of Business & Commercial Aviation magazine and Vice President within McGraw-Hill’s Aviation Week Group. He was President of the National Business Aviation Association from 1992 through 2003, and today Jack’s network and personal knowledge of Business Aviation uniquely qualifies him to oversee Business Aviation and the Boardroom. More information from www.generalaerocompany.com

With next month’s election determining the USA’s presidency as well as political control of the House and Senate, expect to see polarized positions surface from both sides of the aisle. Be mindful of media overreach, but never lose sight of Business Aviation’s basic value, advises Jack Olcott.

orporate jets can’t seem to catch a break when politicians and media look for symbols of questionable behavior. For those who blame banks and other

“But there are risks to being secretive or defensive about using corporate jets.”

segments of the financial community as well as large corporations for what they perceive as unfair attitudes favoring the wealthy, company aircraft are easy targets. Without an understanding of the positive role that Business Aviation plays in the success of an enterprise for owners and shareholders, the public is ready to see only royal barges carrying elites in luxury. Little do they know that business aircraft provide a level of efficient and effective transportation that is not available from any other mode of travel. Unfortunately, the lay media - particularly those with an agenda - are all too willing to capitalize on misconceptions. But how can the public know the reality of Business Aviation when users of corporate aircraft are so reluctant to acknowledge their application? In the absence of material for good news stories, media are loathe to present a positive picture of business jets.

FINDING ANSWERS Companies know that many locations in new as well as in established markets simply are not served adequately, if at all, by the Airlines. To expand market penetration and to maintain satisfactory relations with existing customers, companies need the travel efficiency and scheduling flexibility provided by

WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

Aircraft Index see Page 4

BG 1 Jack_FinanceSept 18/09/2012 12:27 Page 2

What the Boardroom needs to know about Business Aviation

Business Aviation. This form of transportation makes good sense, and without including Business Aviation within a corporation’s travel policy, Directors are short-changing shareholders. Yet too many companies are reluctant to discuss corporate jets, preferring instead to keep the issue (and their aircraft) out of sight. Denigrated by those who are unaware of Business Aviation’s value, and hidden by those who employ this important business tool, it is little wonder why corporate jets can’t seem to catch a break. Perhaps the reluctance of highly visible public corporations to draw attention to their use of Business Aviation is understandable. They see no upside from such exposure. Companies can continue to employ their aircraft to meet their travel needs without being advocates. Or so they reason. But there are risks to being secretive or defensive about using corporate jets. The Car executives who failed to respond positively to Congressman Gary Ackerman’s question at the infamous House hearings on the auto bailout opened the door to the negative suppositions of those who think the worst about Business Aviation. In the absence of clear reasons why companies have aircraft the old stereotypes and misconceptions prevail.

RISKING ACCESS Access to airspace for Business Aviation will be shaped by how this form of transportation is perceived by politicians, and political attitudes are influenced by the public perceptions. If business jets are considered superfluous and not instrumental to shareholder success, regulations and fees will be proposed that restrict their use. Access can be restricted in three basic ways: •

By fiat—political decisions that limit use of certain airports and airways to Airlines only.

Advertising Enquiries see Page 8

•

By mandates—government requirements for special avionics and performance capabilities to use certain areas of the aviation infrastructure. By cost—higher fees that discourage use of Business Aviation.

With government (regardless of party affiliation) desperate for added revenue, pressure will mount to hit users of Business Aviation with added fees. In the absence of acceptance that business jets are effective business tools, all users are at risk of high costs and reduced operational flexibility.

FINDING BALANCE In this political season of extremes, we urge moderation. Look for balance between hiding your company’s use of Business Aviation and giving your firm’s PR department apoplexy. Business aircraft are the sign of well-run companies—firms that appreciate the value of people and time. Directors should be proud to establish policy that enables an efficient blend of Airlines and Business Aviation. Remember that the most successful public corporations—those that produce the greatest returns in dividends and capital gains for shareholders—are users of Business Aviation. In the month or so that remains between your receipt of this October issue of World Aircraft Sales Magazine and the US presidential election, you will be besieged by an avalanche of messages. Separating reality from rhetoric will be challenging. Focus on the facts. Look beyond slogans. Probe deeply. And never lose sight of the unique value of Business Aviation.

“In the absence of acceptance that business jets are effective business tools, all users are at risk...”

Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

BG 2 Oct12_FinanceSept 18/09/2012 12:32 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Evaluating Cost The Metrics of Business Aviation Efficiency. Peter Agur Jr. is managing director and founder of The VanAllen Group, a business aviation consutancy with expertise in safety, aircraft acquisitions, and leader selection and development. A member of the Flight Safety Foundation’s Corporate Advisory Committee and the NBAA’s Corporate Aviation Managers Committee (emeritus), he is an NBAA Certified Aviation Manager. Contact him via www.VanAllen.com.

Measuring the value of Business Aviation requires a careful examination of costs and benefits, observes Pete Agur. Having previously examined the metrics of Safety and Service, this month the focus is on Efficiency.

•

• •

here are three great quotes about metrics that are especially appropriate for Business Aviation:

“Not everything that counts can be counted, and not everything that can be counted counts” - Albert Einstein. “What you do not measure, you cannot control” - Tom Peters. “A penny saved is a penny earned” - Benjamin Franklin

There is also another quote, attributed to financier J.P. Morgan (when he was questioned about his yacht) that may seem relevant. “If you have to ask how much it costs, you can’t afford it,” he said. However, when it comes to Business Aviation, his statement

doesn’t hold water. You do need to know the costs of your Business Aviation services. After all, costs are one-half of the value equation. The other half is benefits. Benefits come in two flavors: intangible and tangible. Intangible benefits vary with each user’s needs and sensitivities. Enhanced safety and security, reduced stress, improved fatigue management, heightened en route productivity, and enriched quality of life are all examples of the extraordinary intangible benefits you gain by using Business Aviation. By definition, intangibles are hard to measure. That is why some of our clients look at the difference between the costs of Business Aviation versus their commercial alternatives to measure what they are paying to gain their intangible benefits. That is why the concept of intangible benefits is part of the brilliance behind Einstein’s quote; much about the value of Business Aviation services cannot be counted, but those intangible benefits they produce do count… hugely. On the tangible side of the equation, many of the cost metrics used in Business Aviation are commercially-based and don’t count in our sector. For example, I often hear folks talk about the cost per hour when comparing one aircraft to another. This metric is a carryover from Commercial Aviation because many costs, like fuel and maintenance reserves, are incurred on an hourly basis. However, different aircraft often have different speeds so they cover miles at a different rate. That is why the apples-to-apples metric for comparing aircraft is cost per mile.

THE TRUE COST OF TRAVEL When I ask top executives what is their greatest constraint, their most frequent answer is “time”. They say there just isn’t enough of it. That is why they are so frustrated by the time lost when they travel commercially. They see airline travel as a black hole for time. U

WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

Aircraft Index see Page 4

New Jet Intl October 17/09/2012 17:05 Page 1

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BG 2 Oct12_FinanceSept 18/09/2012 12:33 Page 2

What the Boardroom needs to know about Business Aviation

So how much time does commercial travel cost? A rough rule of thumb for measuring the door-todoor time difference between a business jet and the airlines is three hours per leg. That assumes a nonstop flight. Connections take at least another hour each. A conservative measurement of the passenger hours saved using Business Aviation is enlightening. As a typical example: a business jet flies 450 hours per year. It flies an average leg length of 600 miles taking 1.5 hours with three passengers onboard. The annual total is 300 legs flown and 2,700 key passenger hours saved (300 legs x 3 hours saved x 3 passengers). The compensation rate of those passengers multiplied by the travel hours saved is a very large and tangible cost benefit to the company. Either hours saved or time-cost saved are metrics worth tracking. Speaking of time, when I ask executives about their need to be punctual they often respond that it is much more important for their travel schedule to be flexible. That is not an option on the airlines. With that in mind, your aviation department can track scheduled departure times versus actual and identify the sources for those variances. Passengerinduced variances are a positive measurement of service. Operator controllable delays identify opportunities for improvement. That is the power behind Tom Peters’ point; if you don’t measure it, you cannot manage it.

Fuel: The largest aircraft operating cost is fuel. Fuel makes up about 45% of the annual cash cost of most business jets. Does your aviation department have a fuel cost savings program? It probably does. How much is it saving? How does that compare to its peers? Are their efforts to create savings being effectively measured and maximized? Maintenance: Your technician is the only aviation department staff member who can save more than he or she costs. The work they do and the decisions they make can have a substantial impact on your aircraft’s resale value, utility and green dollar costs. Are those savings being measured and reported? Availability: Speaking of utility, an aircraft that is a few years old averages 5-6% of the year’s calendar days out of service for routine maintenance. That is about 20 days per year. Each one of those days has lost opportunity costs or substitution costs. By reducing the maintenance down time those costs are lessened. Or by conducting the maintenance on low, or no demand days the impact on business use is minimized. Is your aviation department measuring the costs and benefits of those efforts?

“Either hours saved or time-cost saved are metrics worth tracking.”

J.P. Morgan’s words were applied to personal property, not to business tools like aircraft. When you ask what your business aircraft costs, you are making sure you can afford it.

FURTHER SAVINGS TO ENJOY Finally, we have the issue of saving pennies. The hours you save are incredibly important and valuable. I’ll give you three other examples of substantial savings that are rarely well measured:

WORLD AIRCRAFT SALES MAGAZINE – October 2012

Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com

www.AvBuyer.com

Aircraft Index see Page 4

Bombardier Pre-Owned Except the Price World Aircraft Sales Bleed: 10.25”w x 12.5”h Trim: 8.125” w 10.625” d

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BG 3 Oct12_FinanceSept 18/09/2012 12:37 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Aircraft Reliability You can only manage what you can measure. David Wyndham is an owner of Conklin & de Decker where the focus of his activities is on aircraft cost and performance analyses, fleet planning, and life cycle costing for clients. Mr. Wyndham can be contacted at david@conklindd.com

Demming, Druker and others concur that you can only manage what you can measure, outlines David Wyndham. Business leaders know this almost instinctively. So how can the logic be applied effectively to the reliability of the company aircraft? ould the CFO who sees only total expenses and total income adequately manage the finances of a company? The CFO with a copy of every dollar spent and received, conversely, would be inundated with data. In an ideal scenario, various levels of management need various levels of information. In terms of aviation, the pilot needs to know how much fuel is required for the trip, the aviation manager needs to know the cost of fuel from various sources and total fuel used, and the manager of the company’s aviation function needs to have a measure on how well the flight department is doing. Two major productivity measurements commonly used for flight departments are trips/hours flown and passengers carried. These show how well, or how reliably the service is delivered.

WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

DISPATCH AVAILABILITY AND RELIABILITY Aircraft availability and dispatch reliability are two vital signs of any aviation operation. Availability refers to whether the aircraft is available for a flight, whether scheduled or not. An aircraft in for maintenance cannot be flown, and thus is not available. Does your aircraft spend too much time in the maintenance shop and too little time available for flight? At its most basic, aircraft dispatch reliability accounts for whether the aircraft took-off on time, and if not, why? If the dispatch performance of the aircraft is poor, then so is the level of service. If your car spent a lot of time in the dealer’s service department or broke down several times a year, you would want to know why. The airlines recognize the importance of these metrics and spend considerable resources defining and tracking availability and dispatch data. To the airlines, a standard reliability window is a departure from the gate within 15 minutes of schedule, excluding non-aircraft issues such as air traffic delays, bad weather, connection delays (due to waiting on transferring passengers), etc. Scheduled airlines U

Aircraft Index see Page 4

Jeteffect Inventory October 19/09/2012 09:43 Page 1

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Year

Model

Serial No.

1988

Astra 1125

012

1983

Challenger 601-1A

3010

1995

Citation Jet

525-0122

1998

Citation Jet

525-0243

2008

Citation CJ3

525B-0263

2005

Citation XLS

560-5560

1994

Citation V

560-0252

1995

Citation VII

650-7050

2005

Citation Sovereign

680-0015

1995

Falcon 900B

153

2003

Global Express

9085

2001

Gulfstream G200

015

1987

Gulfstream GIV

1006

1988

Gulfstream GIV

1057

2000

Gulfstream GIV/SP

1433

2004

Hawker 400XP

RK-370

1997

Hawker 800XP

258313

1999

King Air 350

FL-226

2006

Lancair LIV

566

1981

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392

1999

Learjet 45

052

1996

Learjet 60

085

2002

Learjet 60

244

2007

Learjet 60XR

320

2002

Piaggio Avanti P180

1050

1996

Pilatus PC-12/45

156

1994

Sikorsky S-76B

760416

BG 3 Oct12_FinanceSept 18/09/2012 12:38 Page 2

What the Boardroom needs to know about Business Aviation track and update dispatch reliability data continuously. The goal for most airlines is a dispatch reliability rate in excess of 99%. Most data suggest that the large regional and major airlines achieve between 96-98%, with the most reliable carriers achieving 99-99.5% dispatch reliability. On time departures make happy customers and happy customers return to spend more money. The airlines are very serious about this metric and review it on a daily basis. A cancelled airline flight means increased costs and the possibility of lost revenue in the future.

BUSINESS AVIATION TRACKING ISSUES From my experience, operators of business aircraft do not track availability or reliability with the same focus. Perhaps that is because availability and reliability have never been a big issue in Corporate Aviation. The cost to your business of a delayed or cancelled private flight can be significant. The business aircraft is selected for its ability to minimize travel time. Sitting around waiting for the airplane to be fixed is not an efficient use of your time, or the capital invested in your flight department. For the business aircraft to meet its productivity promise, it has to be on-time, all of the time. Anecdotally, Business Aviation appears to focus on dispatch reliability more so than aircraft availability. The manufacturers release limited data. Gulfstream reported that the G450/550 fleet routinely exceed 99% dispatch reliability (achieving 99.87% in 2009). The hard data are scarce, however. Rates for older and out-of-production aircraft are generally not to be found. Aircraft availability figures are much lower. It is not unusual for availability numbers to be about 85%, and some fleet operators deal with aircraft availability in the vicinity of 80% due to issues associated with unscheduled maintenance. A second problem exists in this arena: Those that do track such data may not use the same

WORLD AIRCRAFT SALES MAGAZINE – October 2012

definition in calculating such performance. The National Business Aviation Association is working to fix both the problem of tracking data among operators and the uniformity of data tracked. At present it has a tool called FERMS, the Forum for Enhanced Reliability and Maintainability Standards (http://www.nbaa.org/ops/maint/ferms/faq/). FERMS is a web-based tool providing business aircraft manufacturers and operators with realtime information about business aircraft maintenance and performance. NBAA has defined the metric for measuring the operational availability and reliability of business aircraft. This secure collection tool is available for NBAA members and select industry participants such as the aircraft manufacturers. These factual data will ultimately serve to validate reliability and maintenance programs, bringing about timely response to maintenance and operational issues. The key to success is to record this information consistently and accurately. NBAA’s FERMS seeks to achieve this. If your aviation operation is not yet a part of this effort, I encourage you to consider it. There is no reason not to track availability and reliability metrics. When working with operators, I find that those that track this type of data also have the highest reliability rates. This type of data collection seems to correlate with those aviation operations that are efficiently run and offer the high levels of service that Business Aviation promises. The payoff is that Board Members will gain hard information with which to analyse the benefits of how well the company aircraft is maintained, and what impact maintainability and reliability programs have on the ability of your company’s flight department to satisfy the corporation’s transportation needs.

“For the business aircraft to meet its productivity promise, it has to be on-time, all of the time.”

Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com

www.AvBuyer.com

Aircraft Index see Page 4

Br Of ing fe Al rs l

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Project3 25/09/2012 12:30 Page 1

Project3 25/09/2012 12:31 Page 1

BGuide 4 Oct12_FinanceSept 18/09/2012 12:43 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Tax Treatment Of Corporate Aircraft Use: Entertainment, Amusement and Recreational Purposes (Part1) Troy A. Rolf, a business aviation and tax attorney, manages the Minnesota office of GKG Law, P.C. Contact him via email at trolf@gkglaw.com.

With particular attention to rules for Specified Individuals, attorney Troy Rolf begins this two-part series dealing with the tax implications of personal and recreational use of company aircraft.

rior to October 22, 2004, if a company permitted its owners and employees to use the company’s aircraft for entertainment, amusement or recreational purposes when the aircraft was not otherwise being flown for the company’s business purposes, the company was entitled to fully depreciate the aircraft and to deduct all aircraft operating expenses provided two baseline conditions were met: •

WORLD AIRCRAFT SALES MAGAZINE – October 2012

The aircraft’s operating expenses were ordinary, necessary and reasonable. • The company imputed fringe benefit income to the user under the Standard Industry Fare Level (SIFL)

www.AvBuyer.com

method or the fair charter value method. Such deductibility was based in part upon an interpretation of Section 274 of the Internal Revenue Code by the U.S. Eighth Circuit Court of Appeals in a case that became known as the Sutherland Lumber decision.

THE JOBS ACT The American Jobs Creation Act of 2004 (the “Jobs Act”) partially overturned the Sutherland Lumber decision by amending Section 274 to limit a company’s ability to deduct aircraft depreciation and operating expenses when Specified Individuals were being transported for Entertainment, Amusement or Recreation purposes. U

Aircraft Index see Page 4

Lynn Beaudry | +1 912 965 4000 | lynn.beaudry@gulfstream.com

Gulfstream G150 s/n 252: $8,500,000

Gulfstream G200 s/n 007: $5,450,000

Gulfstream G200 s/n 036: $6,750,000

Gulfstream G200 s/n 233: $13,900,000

GULFSTREAM G400 s/n 1522: $19,500,000

Gulfstream GIV SP s/n 1453: $16,500,000

Gulfstream G450 s/n 4030: $24,950,000

Gulfstream G450 s/n 4039: $24,250,000

Gulfstream GV s/n 518: FOR LEASE

Gulfstream GV s/n 630: $25,750,000

Gulfstream G550 s/n 5146: $38,950,000

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BGuide 4 Oct12_FinanceSept 18/09/2012 12:44 Page 2

What the Boardroom needs to know about Business Aviation The term “Specified Individuals” means any person who is the direct or indirect owner of more than 10% of any class of equity security of the taxpayer, and any officer or director of the taxpayer. The terms “Entertainment”, “Amusement” and “Recreation” mean any activity of a type generally considered to constitute entertainment, amusement, or recreation, such as entertaining at country clubs, golf and athletic clubs, sporting events, and on hunting, fishing, vacation and similar trips. The Jobs Act limited the company’s right to deduct the expenses and depreciation attributable to such flights to an amount equal to the amount that was received from the Specified Individual as reimbursement for the expenses of the flight or imputed to the Specified Individual as income for the flight. The Act, however, did not provide any details concerning how to calculate the proportion of a company’s aircraft expenses and depreciation that is attributable to such flights.

INTERIM GUIDANCE FOR CALCULATION The IRS subsequently provided interim guidance on the subject in Notice 2005-45, which states that companies must allocate all aircraft operating expenses and depreciation on a pro-rata basis, based on either total passenger-miles flown during a tax year or passenger-hours flown during the tax year. To comply with is requirement, the company must keep track of all the miles or hours flown by individual passengers over the course of an entire tax year, as well as each passenger’s purpose (entertainment vs. non-entertainment) for being on-board the aircraft. For example, if a company that elects to utilize miles as the basis for its calculation operates a flight of 800 miles with seven Specified Individuals on board, the flight would result in a total of 800 x 7 = 5,600 passenger-miles flown. If two of the Specified Individuals were traveling for entertainment purposes and five of the Specified Individuals were traveling for non-entertainment purposes, the 5,600 passenger-miles would be allocated as 1,600 entertainment miles and 4,000 non-entertainment miles. At the end of the tax year, the company would divide the sum of all operating expenses and depreciation for the year by the sum of all passengermiles flown to arrive at a cost per passenger-mile flown. The company would then go back and, on a flight-by-flight, passenger-by-passenger basis, multiply the cost per passenger-mile by the number of entertainment miles flown on a given flight, and subtract from that product the amount of reimbursement received from the Specified Individual, or the amount of income imputed to the Specified Individuals for the flight, in order to arrive at the amount that will be disallowed for such flight. For a company that elects to utilize hours rather than miles as the basis for its calculation, the methodology is the same, except that hours flown is substituted for miles flown. The methodology dictated by Notice 2005-45 was harshly criticized by taxpayers almost immediately after it was published for a variety of reasons,

WORLD AIRCRAFT SALES MAGAZINE – October 2012

including the burdensomeness of the record keeping required to implement the methodology, and the fact that allocating costs and depreciation on a passenger-by-passenger basis can lead to inequitable results. Next month, we will address what has been done to simplify this rule as a consequence of revisions to the Jobs Act published on August 1 of this year. Note: This article should not be construed as legal advice or legal opinion on any specific facts or circumstances. The reader is urged to consult legal counsel or other advisors concerning his/her own situation and specific legal questions. Please be advised that, to ensure compliance with requirements imposed by the IRS, any U.S. tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

“The IRS subsequently provided interim guidance on the subject in Notice 2005-45...”

Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com

www.AvBuyer.com

Aircraft Index see Page 4

BGuide 5 Oct12_FinanceSept 18/09/2012 12:49 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Reading A Market: It’s not a tea-leaf experience. Jay Mesinger is the CEO and Founder of J. Mesinger Corporate Jet Sales, Inc. Additionally, Jay is a Member of the Board of the National Business Aviation Association (NBAA), and the Chairman of the Associate Member Advisory Council (AMAC). He also sits on the Jet Aviation Customer Advisory Board. Mr. Mesinger can be contacted at jay@jetsales.com

Jay Mesinger discusses his analysis of market data in an attempt to understand trends and make decisions regarding asset values of business aircraft. Tea leaves, he observes, are useless.

s Directors struggle to determine asset values in this challenging economy, I have been studying supply and demand levels from the last high point of our markets in 2007 and what we thought to be the lowest point in 2009. Hopefully, such an analysis will provide insight for understanding today’s unsettled environment. While values are still fluid and supply is uneven, historical data traditionally reveal residual loss

WORLD AIRCRAFT SALES MAGAZINE – October 2012

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rates. When you eliminate the highs and lows and artificially smooth the data, a typical annual loss rate of 3.5-5.0% holds true. In today’s world, however, a new understanding of the data is required. So for the purpose of this article I discuss residual loss, while also identifying specific data points that you might use in your individual circumstances to make sense of the market’s recent history. With respect to residual loss rates, Boards do not always have the luxury of leveling out periods over time. Based on various circumstances (e.g., lending covenants, or need to sell or transition an aircraft) the highs and lows of current markets can impose hardships or windfalls. There is a valid need, however, for many Boards to create a realistic value for the company aircraft at a specific point in time. So how does one read the market? Believe me, understanding market dynamics is not an exercise of reading tea leaves. It is an exercise of reading data. I have said many times that our aviation industry is one of the most unsophisticated, sophisticated industries imaginable. In creating a comparable list of aircraft available for sale at any given time, nearly 70% of the inventory states “Make Offer” rather than specifying an asking price. Consequently you may have to contact many parties, including the vendors for the specific type of aircraft being considered as well as collateral aircraft markets that may create competitive opportunities for buyers. This dynamic of our industry makes valuation problematic. Furthermore, there is no recordation body to capture sales prices of aircraft when they are sold. One must be in the market regularly, talking often to all sellers, to obtain accurate input. Typically sellers say they received more and buyers say they paid less! To address the lack of distilled information, I examined the reporting books and the multiple listing services to determine what I could learn from available sources. U Aircraft Index see Page 4

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BGuide 5 Oct12_FinanceSept 18/09/2012 12:50 Page 2

What the Boardroom needs to know about Business Aviation DISTILL THE INFORMATION FOR A TRUE PICTURE OF THE MARKET

DISTILLING THE DETAILS It is interesting to note that the major multiple listing services have acknowledged that 2012 inventory levels are down from 2011 levels. On the surface this news sounds like a shift in demand and supply. The lower supply number could bode well for a recovering market… but now for the rest of the story. Less inventory suggests that transaction numbers should be up, but this is not the case. Inventory numbers seem to be down due to sellers pulling their aircraft off the market for several reasons, such as using the aircraft more often in their own businesses (a good thing). Another reason, however, might be that an opportunistic seller realized that selling at the asking price was not possible. Reading the market in great part is about understanding the real factors in supply fluctuation. Data points that I think are critical to reading the market are inventory levels during specific periods in given years in relationship to actual unit sales during those periods. This information, coupled with the retail and wholesale trend lines of the Bluebook and Vref, reveals market direction with respect to prices. I think it is unfortunate that sellers are either reluctant to state an asking price or submit a price that is unrealistic. In either case the seller seems to believe in a market turnaround. Given what I am seeing in my analyses, unfortunately dramatic recovery is nowhere in sight. Using the Challenger 604 as an example, a quick

WORLD AIRCRAFT SALES MAGAZINE – October 2012

summation of supply levels and transactions data points are as follows: • In the first seven months of 2007 (considered the height of the market) there was an average of 18 planes listed for sale per month. • In the first seven months of 2007, 35 units were sold. • In the first seven months of 2009 (considered to be the market low point) there was an average of 48 aircraft listed for sale each month, with a total of 16 sales during that seven month period. • During or the first seven months of 2012 there has been an average of 61 aircraft for sale with 20 transactions during the period. As you can see from this analysis there has been a complete reversal of supply and demand, and prices have continued to drop steadily since 2007. In fact prices in 2012 are down another 32% since 2009. With this example and the many other markets I examined the same way, the graphic illustration of the data was a way to pinpoint a trend of actual supply and demand, thus capturing a basis for valuation beyond residual loss.

“Reading the market in great part is about understanding the real factors in supply fluctuation.”

Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com

www.AvBuyer.com

Aircraft Index see Page 4

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BG 6 Oct12_FinanceSept 18/09/2012 12:54 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Bringing Business Aircraft Into China (A study worth understanding) Jim Cooling is the Managing Partner at aviation law firm Cooling & Herbers. He is a specialist in international transactions, is admitted to practice in the U.S. Supreme Court, and has served on the Board of Directors of the National Business Aviation Association. Email: jcooling@coolinglaw.com

Attorneys Cooling and Breckenridge illustrate how one country - China - deals with overseeing the registration and placement into service of business aircraft. For decision makers, the differences between China and the USA are enlightening.

he British have a saying, “Different horses for different courses.” China’s approach to allowing the operation of N-registered business aircraft in China, as well as assigning “B” registry to business aircraft and placing them in service, reflects the approach the government of the world’s second largest economy takes toward Business Aviation. China is relatively new to Business Aviation, and its regulations and procedures

may evolve as its government refines ways that business aircraft can facilitate economic growth domestically as well as globally. For the present, however, bringing a business aircraft into China either for occasional or for prolonged operations is a sophisticated process. A company or entrepreneur desiring to operate a business aircraft in China must consider several issues in anticipation of flying into the country or registering its aircraft in China and structuring its flight operations accordingly. If the use of the aircraft will be mainly on international business trips with occasional flights between large Chinese cities, offshore registration may be desirable, particularly since China imposes nearly 23% Importation and VAT on aircraft placed on the Chinese registry. There are several convenient offshore aircraft registries, including Hong Kong, Macau or the US.

FOREIGN-REGISTER OPERATIONS As a foreign-registered civil aircraft, operations become subject to limitations in mainland China under China’s ‘Rules Governing Foreign Civil U Aircraft’.

WORLD AIRCRAFT SALES MAGAZINE – October 2012

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Aircraft Index see Page 4

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BUSINESS AVIATION AND THE BOARDROOM

“Once a permit has been issued, it is advisable to avoid any changes to your planned journey.”

Foreign civil aircraft operating in China must submit applications for both non-scheduled and private flights at least 10 days prior to departure on any given trip. Air Traffic Control in large cities such a Beijing, Shanghai and Guangzhou set strict limits on landing slots, so applying early for a flight permit is recommended. The Civil Aviation Administration of China (CAAC) is very specific regarding permit dates, times and routes. Once a permit has been issued, it is advisable to avoid any changes to your planned journey, since the CAAC may deny requests for changes and require the issuance of a new permit which would require additional application time. Application for a permit also requires a sponsor letter from a China-based business willing to accept responsibility for the flight. Be aware that private tourism flights are not permitted, and sponsorship by a China-based hotel or tourism company does not qualify for a foreign flight permit. There are three additional requirements for foreign-registered aircraft: (1) A foreign civil aircraft must carry Chinese crew members assigned by the CAAC (Chinese navigator and radio operator) to guide the flight unless otherwise stipulated in the clearance, (2) Flight plans must be filed at least one hour prior to departure, and (3) Airports designated for foreign civil aircraft operations must have customs, quarantine and frontier inspection offices available (limiting the number of Chinese airports where foreign

WORLD AIRCRAFT SALES MAGAZINE – October 2012

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aircraft may operate). Other fees and charges for takeoff, landing, parking and air navigation are up to 10 times higher for foreign civil aircraft than they are for Chinese registered aircraft operating in China.

B-REGISTER OPERATIONS Should a business jet buyer need to operate predominantly within China and/or need to operate to smaller cities not generally available to foreign civil aircraft, then Chinese (‘B’) registration of the aircraft should be considered. The process of ‘B’ registration may be long and involved (up to two years if the aircraft is not type certified in China (for example, if the authorities in China have not approved a specific aircraft model to operate within the country’s airspace) and a minimum of four-12 months if it is). There are advantages to B-registration, such as less operating restrictions for the aircraft owner, less expensive fees and fuel, no sponsor requirements, and access to many more domestic, or even some military airports. Additional registration requirements in mainland China include a citizenship test and the stipulation that the business operator engage a Chinese management company and use Chinese pilots. The citizenship test requires the company to be at least 65% Chinese-owned and have a Chinese citizen as chairman of the Board of Directors (which can disqualify many Chinese joint ventures). The requirement to engage a Chinese management company and Chinese pilots also presents a serious obstacle. Currently there are only a handful Aircraft Index see Page 4

BG 6 Oct12_FinanceSept 18/09/2012 12:55 Page 3

What the Boardroom needs to know about Business Aviation of Chinese management companies that meet all the requirements for managing B-registered aircraft in China, and there is a shortage of Chinese pilots. There are approximately 150 business aircraft registered in China, and the CAAC is processing approximately 25 new applications per year.

THE LEASING OPTION There is a third path to accomplish broad access to Chinese cities via business aircraft. A B-registered aircraft owned by an offshore entity may be leased to a Chinese charter operator for use in their charter operations. This path also reduces the impact of the VAT/import tax because the business jet owner is able to amortize the VAT/import tax over the life of the lease. The Chinese charter operator must qualify for Chinese B-registration under the citizenship test and must have an Air Operating Certificate (AOC) issued by the CAAC. Furthermore, the aircraft must meet the requirements of B-registration and qualify for placement on the Chinese operator’s AOC. The owner’s flights would be flown as charter flights (non-scheduled rather than private operations), and the VAT/import fees would be paid on the lease payments rather than the fair market value of the aircraft. There are currently only a few charter companies that qualify to engage in these types of arrangements, and most are associated with one of the large Chinese airlines.

transactions are aware of the various operational, transactional and regulatory requirements. They often are willing to work with a Chinese buyer to address these issues and to start the petition process for type certification well before the anticipated delivery date for a new aircraft. Generally speaking, sellers of used aircraft are not aware of these issues and will not be willing to wait 12–18 months to complete a sale. For Chinese buyers who want to purchase pre-owned aircraft, a better route may be to place the aircraft temporarily in an offshore registry and operate as a foreign civil aircraft in China until the Chinese import and registration is completed. More information about CAAC Laws and Regulations that apply can be found at: http://www.caac.gov.cn/B1/B5. Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com

“A B-registered aircraft owned by an offshore entity may be leased to a Chinese charter operator...”

AIRCRAFT IMPORTATION INTO CHINA If the business jet owner plans to register its aircraft in China, the importation of the aircraft into China is another important consideration. There are three major areas that will affect the transaction: (1) Bilateral Agreements between China and various foreign countries provide guidance on the export of a foreign manufactured product into China. (2) Chinese validation of a type certificate (TC) and all supplemental type certifications (STCs) for a particular model of aircraft are a pre-requisite for the issuance of a Chinese certificate of air worthiness. The process of applying for type certification can be quite complicated, expensive and take a year or more to complete. Currently there is at least one interior STC validation required by the CAAC for pre-owned aircraft. It is important to understand the status of the TC and any STCs prior to committing to purchase any aircraft. (3) The Chinese laws on Foreign Exchange also limit a Chinese buyer’s ability to move funds overseas for purchase of a foreign-manufactured aircraft. Chinese buyers are required to obtain government permission to own and import a business aircraft. The usual amount of time to accomplish the tasks outlined above is four–18 months, but can take longer if the aircraft is not type certified in China. Aircraft manufacturers that regularly do China Advertising Enquiries see Page 8

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

BG 7 Oct12_FinanceSept 18/09/2012 12:59 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Election Coverage Liability and the Carriage of Elected Officials. Stuart Hope is a co-owner of Hope Aviation Insurance. His career as an aviation insurance broker began in 1979, and today he is a frequent speaker/author on insurance & risk management topics. He also serves on the NBAA Tax, Insurance and Risk Management Committee. Mr. Hope can be contacted at shope@hopeaviation.com

Offering politicians the use of your aircraft presents owners with liability exposure, warns Stuart Hope. Carefully examine your insurance coverage if you plan to use your airplane to assist politicians in the lead-up to the coming elections.

n October 2002, Senator Paul Wellstone of Minnesota, along with his wife, daughter, three staff members and the two pilots died in a small airplane crash. Wellstone was in a tough re-election battle and was traversing the state making campaign appearances. Estates for the late Sen. Wellstone and the five other passengers reached a $25 million dollar settlement— apparently the policy limit—with the charter company that operated the flight.

Subsequent legal action on behalf of the co-pilot and possible lawsuits against the State of Minnesota, operator of the navigational aid, followed. As we approach November 6th, campaign managers are facing the challenge of having their candidates appear in two places at the same time. Although Business Aviation can’t quite make that happen, it comes extremely close. Many aircraft owners choose to give their favorite candidate a “donation” by allowing them to use their private aircraft in support of the politician’s campaign. While there are many governmental rules and regulations from the FAA and IRS regarding the use of private aircraft and the aircraft owner’s right to provide air transportation to elected officials and candidates1, this article will concentrate on the insurance and risk management ramifications of doing so.

RISK MANAGEMENT There are two primary areas of concern for owners. First and foremost, consider the high profile nature of the passenger(s) being carried. If an accident should occur while you are providing a candidate and his family or staff with transportation, it will make national headlines. As the aircraft owner, you and/or your company will be squarely in the spotlight of the media, the FAA, the Federal Election Commission, and the legal community. You will be fighting many fires at once. Hopefully you have implemented a robust Emergency Response Plan as an initial counter measure2. The potential liability exposure for injury to a high profile or high-net-worth individual can be catastrophic. If your insurance house is in order and you have chosen an appropriate liability coverage limit, you will be protected. But as with any insurance claim U

WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

Aircraft Index see Page 4

General Aviation October 17/09/2012 17:24 Page 1

BG 7 Oct12_FinanceSept 18/09/2012 13:00 Page 2

What the Boardroom needs to know about Business Aviation

many costs are not recoverable - primarily the valuable time you will spend having to deal with court proceeding, depositions, PR damage to the company image, etc. Therefore the first decision you have to make deals with risk management. If the probability and consequences of loss are high, risk avoidance is typically your best strategy. That is, don’t engage in the activity that is creating the risk. If the probability of loss is low but the consequence of that loss is high, risk transfer [insurance] is typically your best choice. Aviation falls into the latter category. So the first choice you have to make is whether the liability exposure is worth the benefit of providing access to your aircraft. If the answer is yes, then you need to make sure your insurance policy covers exactly what you are doing.

issue with the FAA with regards to Commercial vs. Non-Commercial flights? Violating the usage clause is a quick way to void your insurance coverage. Therefore, it is critical to communicate with your aviation insurance broker the precise terms of reimbursement for these flights and secure a response in writing that they are approved under your policy. Do not skip this step! In closing, sometimes it seems true that “No good deed goes unpunished.” If you decide to donate your aircraft to a political candidate, make certain your insurance program is in order so this phrase doesn’t find a way to be true.

INSURANCE POLICIES

FOOTNOTES:

Thus your next consideration deals with insurance. Are you carrying an adequate limit of liability protection? In the above Wellstone accident, as stated, it is believed $25m was the policy liability limit of the charter operator. Imagine if the passenger had been one of our wealthier Federal or State candidates. Since you really don’t know how much liability protection you need until after a loss, you are best served buying higher limits, particularly in the current soft aviation insurance market where the premium difference between $100m, $200m, or $300m liability limits is very reasonable. Next, does your policy’s usage clause allow you to be reimbursed for flights in your aircraft at the amount prescribed by the Federal Election Commission? Does that reimbursement create an

1 – IRS implications of carriage of elected officials aboard your private jet was covered in these pages in the February and March 2012 editions. Find them online at:

WORLD AIRCRAFT SALES MAGAZINE – October 2012

Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com

http://e-ditionsbyfry.com/Olive/ODE/WAC/ Default.aspx?href=WAC/2012/02/01&pageno=60

and http://editionsbyfry.com/Olive/ODE/WAC/Default.aspx?href= WAC/2012/03/01&pageno=64

“...does your policy’s usage clause allow you to be reimbursed for flights in your aircraft at the amount prescribed by the Federal Election Commission?”

2 – Formulation of Emergency Response Plans was discussed in more depth within these pages in the August 2011 edition. Find it online at: http://editionsbyfry.com/Olive/ODE/WAC/Default.aspx?href= WAC/2011/08/01&pageno=68

www.AvBuyer.com

Aircraft Index see Page 4

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BG 8 Oct12_FinanceSept 18/09/2012 18:04 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Medium Jet Value Among the genius aspects of private aviation, the broad spectrum of solution options stands as a remarkable achievement. Neither too big, nor too small (and not too expensive), Medium Jets can be just the right fit for many an operator.

rom Entry Level Jets (under 10,000 lbs takeoff weight) through Light Jets and on to the heady realm of the VIP-configured airliners, something undoubtedly exists that will accommodate your requirement for speed, range and capacity – especially for capacity. Of all the business jet categories, none does more to balance capability with utility than the Medium Jet segment (loosely defined by aircraft with a maximum take-off weight between 20,001-40,000 lbs); no segment provides more options, either. Medium Jets, as their label indicates, fall between the Light Jet and Large-Cabin Jet segments in numerous ways, while leaning closer to the Large-

WORLD AIRCRAFT SALES MAGAZINE – October 2012

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Cabin segment in several specific areas. Not too big, not too small, nor too expensive: Medium Jets can be just the right fit for many an operator.

CABIN VALUE A smaller Medium Jet can only improve incrementally on the cabin space of the largest Light Jets, while the largest Medium Jet could dwarf the volume of that same Light Jet model. Medium Jets also tend to cruise at the upper-end of the private jet speed range – between Mach 0.78 and Mach 0.85. If there’s a contest to identify a give-back element U

Aircraft Index see Page 4

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BG 8 Oct12_FinanceSept 19/09/2012 09:13 Page 2

What the Boardroom needs to know about Business Aviation

to the Medium Jet segment, most would opt for runway flexibility. And that’s only fair. Runway requirements for Medium Jets are generally longer than the average length needed by a Light Jet. But Medium Jets typically can use a significant percentage of the secondary airports serving most of the 150 largest metropolitan areas in the U.S. In general the average Medium Jet can reach most of the U.S. non-stop from almost anywhere in the U.S., thanks to their legs-capability. Medium Jets typically can fly from several hundred miles to more than 1,000 miles farther than the Light Jet average. That range capability also gives the crew the flexibility to string together a sequence of stops that total the same distance. Using the latter approach makes it possible for a Medium Jet to cover multiple stops and get home at the days’ end – without buying fuel along the way.

CONSIDER A MEDIUM JET IF… This capability to avoid refueling on a multi-leg trip is called “tankering”, and it makes the Medium Jet a more-suitable solution than a Light Jet for the operator who regularly needs to fly 2,000 nautical miles or more on a leg – or who may cover that much in a day or two flying multiple legs. While on average faster than the Light Jet average, a Medium Jet’s superior speed generally provides only a few minutes of gain on the typical Business Aviation trip of 350 to 500 miles, but the difference will be notable on legs as long as the average Light Jet’s typical maximum range. There’s no disputing the advantages of space in the comfort equation, particularly when applied to

WORLD AIRCRAFT SALES MAGAZINE – October 2012

longer trips. That is ultimately where the Medium Jet’s basic advantage comes into play. Medium Jets deliver plenty of added space and comfort over the typical Light Jet – but at costs still significantly below those of the Large Cabin segment. Indeed, Medium Jets generally can match their Large Cabin kin in terms of speed and, to a point, range - while providing reasonable office amenities that are competitive with most larger aircraft. It is little wonder that the Medium Jet segment is the biggest selling, deepest segment across the business aircraft market.

MEDIUM JET PRICE GUIDE The following Medium Jets Retail Price Guide represents current values published in the Aircraft Bluebook – Price Digest. The study spans model years from 1993 through Fall 2012. Values reported are in USD$ millions. Each reporting point represents the current retail value published in the Aircraft Bluebook by its corresponding calendar year. For example, the Bombardier Learjet 40XR values reported in the Fall 2012 edition of Bluebook show $4.4 million for a 2007 model, $5.0 for a 2008 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 range for consideration.

“...the average Medium Jet can reach most of the U.S. non-stop from almost anywhere in the U.S...”

Do you have any questions or opinions on the above topic? Get it answered/published in World Aircraft Sales Magazine. Email feedback to Jack@avbuyer.com

www.AvBuyer.com

Aircraft Index see Page 4

Aradian July 17/09/2012 17:28 Page 1

FILEâ&#x20AC;&#x2C6;PHOTO

2013 Gulfstream 450

Gulfstream 550

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1997 Challenger 604

2008 Hawker 900XP

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2007 Beech Premier 1A

2007 Hawker 850XP

2007. 1200TT. Support Plus 2008. 540TT. TAP Elite. Support Plus

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McDonnell Douglas MD 600N

1550TT. Recent paint. Air Con. Very well equipped

Three MD600N available

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Also in: South America, South Africa, Russia, Spain, Germany, India & UAE

Retail Price Guide Oct12_PerfspecDecember06 18/09/2012 16:33 Page 1

BUSINESS AVIATION AND THE BOARDROOM

MEDIUM JETS AVERAGE RETAIL PRICE GUIDE FALL 2012 YEAR OF MANUFACTURE 2012 $ US$M MODEL BOMBARDIER LEARJET 60XR

13.7

2011 US$M 10.3

2010 US$M 8.8

2009 US$M

2008 US$M

7.5

6.7

BOMBARDIER LEARJET 60SE

2007 US$M

2006 US$M

2005 US$M

2004 US$M

4.4

4.0

6.1 6.1

5.0

BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR

3.7 13.2

11.5

8.8

7.6

6.8

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

2003 US$M

10.83

9.1

7.1

5.5

5.0

BOMBARDIER LEARJET 40

6.2

5.5

5.3

4.8

4.2

5.2

4.7

4.4

4.1

3.7

4.4

4.0

3.6

3.9

3.6

3.2

2.9

10.0

9.3

8.8

8.1

6.5

5.950

5.750

CESSNA CITATION V1 650 CESSNA CITATION V11 650 CESSNA CITATION SOVEREIGN 680

17.658

15.5

14.0

12.5

10.5

CESSNA CITATION XLS+ 560

12.714

11.5

10.0

9.2

8.2

CESSNA CITATION XLS 560

7.3

CESSNA CITATION EXCEL 560 GULFSTREAM G280

4.5

4.1

8.3

7.8

7.3

4.5

4.2

4.1

4.4

4.0

24.0

GULFSTREAM G200 GULFSTREAM G150

5.350

16.550

16.0

14.0

11.0

9.9

9.4

8.8

11.9

11.0

9.0

8.3

7.8

7.5

GULFSTREAM G100

5.0

GULFSTREAM/ ASTRA 1125 SPX GULFSTREAM /ASTRA 1125 SP HAWKER 4000

22.908

19.0

17.0

15.0

13.0

16.067

12.5

10.0

9.0

8.3

8.0

6.9

HAWKER 1000 HAWKER 900XP HAWKER 850XP PRO LINE

6.0

5.3

HAWKER 800XP PRO LINE

4.6

HAWKER 800XP HAWKER 800 HAWKER 750

10.5

8.5

7.5

6.5

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

WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

Aircraft Index see Page 4

Retail Price Guide Oct12_PerfspecDecember06 19/09/2012 09:21 Page 2

What the Boardroom needs to know about Business Aviation

What your money buys today 2002 US$M

2001 US$M

2000 US$M

1999 US$M

1998 US$M

1997 US$M

1996 US$M

1995 US$M

1994 US$M

1993 US$M

YEAR OF MANUFACTURE $ MODEL BOMBARDIER LEARJET 60XR BOMBARDIER LEARJET 60SE

3.5

3.3

3.1

3.0

2.8

2.7

2.6

2.5

2.3

2.2

BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR

3.3

3.1

3.0

2.9

2.8

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR BOMBARDIER LEARJET 40 1.9

3.5

3.3

3.1

2.9

2.7

2.5

1.8 2.3

1.7

CESSNA CITATION V1 650

2.1

CESSNA CITATION V11 650 CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+ 560 CESSNA CITATION XLS 560

3.9

3.6

3.3

3.0

2.7

CESSNA CITATION EXCEL 560 GULFSTREAM G280

6.8

6.3

5.9

5.5

GULFSTREAM G200 GULFSTREAM G150

4.0

3.8 3.8

GULFSTREAM G100 3.5

3.3

3.1

3.0

2.9

GULFSTREAM/ ASTRA 1125 SPX 2.4

2.3

2.2

GULFSTREAM/ ASTRA 1125 SP HAWKER 4000

3.4

3.3

3.2

3.1

HAWKER 1000 HAWKER 900XP HAWKER 850XP PRO LINE HAWKER 800XP PRO LINE

3.4

3.2

3.0

2.8

2.7

2.6

2.5

2.3 2.2

HAWKER 800XP 2.1

2.0

HAWKER 800 HAWKER 750

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

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

Online AvBuyer full page Sept 20/09/2012 13:13 Page 1

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The global marketplace for business aviation News - Aircraft listings - Editorial

J Hopkinson October 17/09/2012 17:35 Page 1

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

Challenger 604 SN 5364, 5903 TTAF, Engines On Condition, Collins ProLine IV, Honeywell EGPWS, Collins TCAS II w/Change 7, Dual Collins FMS-6000 FMS w/Dual GPS4000, DVD, VCR, 10 Pax

Piper JetProp DLX SN 46-8408072, 3443 TTAF, Heated Windshield STC, Ram Engine Cooling STC, Fuel Filler Cap STC, King Yaw Dampener & Altitude Preselect, 4 passenger interior

Astra SPX SN 117, 2908 TTAF, Collins Proline IV, Color weather Radar, TCAS II/w change 7, Airshow 400

King Air B200 SN BB-1939, 2522 TTAF, EGPWS MKVIII, TCAS TR-4000, RVSM, Dual Aft Body Strakes, King Air 350 De-Ice Boots, 7 Pax

Citation S/II SN S550-0036, 8576 TTAF, 6755 Cycles, 1304 SMOH, Cosmetics Refreshed & Perma-guarded (08/2011), GNS-XLS, GPWS, New Windows 2007, RVSM $995,000 John Hopkinson & Associates Ltd. 1441 Aviation Park NE, 2nd Floor, Box 560, Calgary, Alberta, T2E 8M7

Sequestration Threat_FinanceSept 18/09/2012 11:46 Page 1

THE SEQUESTRATION THREAT

The Sequestration Threat: Washington’s fiscal dispute could short NextGen progress. by Dave Higdon n retrospect, the environment that produced the political deal behind the Budget Control Act of 2011 seemed unlikely to change enough to avoid a very punishing outcome – as the nation now faces on January 1, 2013. On that date, across-theboard, mandatory, take-no-prisoners cuts in every agency’s budgets – totaling more than $1.2 trillion by 2023 – will begin. This threat is not a surprise. At every interim step the parties have failed to agree on a prescription to avoid the pending pain. Republican leaders in Congress insist, as they did last summer, that any solution consist

WORLD AIRCRAFT SALES MAGAZINE – October 2012

solely of cuts to all budgets – excepting the Defense Department. Democratic leaders in Congress insist with equal resolve that any solution must include revenue enhancements and include reductions in DoD’s budgets. A so-called Super Committee, created to craft an acceptable solution, failed, and other efforts to avoid the specter of sequestration have also failed – largely because one side wants nothing but cuts, and the other, an approach balancing cuts and increased revenues. Thus, the United States heads toward something less than a fiscal cliff – the 2013 budget cuts mandated amount to less than www.AvBuyer.com

$40 billion, or 0.38 percent of the proscribed 10-year total – but more than a planned contraction. And all the way through this process voices on both sides continue to scream about the dangers of this path: danger to employment (it will fall is the universal message), economic growth (also headed downward), program progress across the government and the tenuous economic recovery of the past three years. Craig Fuller, president of the Aircraft Owners and Pilots Association has warned, “The impact of sequestration would be devastating for the entire aviation community. Huge cuts in FAA staffing would affect every Aircraft Index see Page 4

Sequestration Threat_FinanceSept 18/09/2012 11:47 Page 2

THE SEQUESTRATION THREAT ing feverishly to finish necessary business. In such an environment, they all noted, anything can happen without being fully vetted by those effected.

HOW WE GOT HERE…

aspect of aviation operations from air traffic control to aircraft certification. As many as 200 contract control towers could be closed. “Further, the NextGen modernization effort that is so crucial to the long-term effectiveness of our transportation system would be cut by as much as $160 million.” National Business Aviation Association’s Ed Bolen worries that nobody knows how it’s going to work, while acknowledging that Business Aviation is, like all of aviation, at risk - and Pete Bunce, president of the General Aviation Manufacturers Association expressed concern about the speed and secrecy of a late-term, lame-duck Congress workAdvertising Enquiries see Page 8

Sequestration is basically the term describing a take-back of approved funds from agencies apportioned them. In this case, the rules of the 2011 act mandate that the take-backs hit all agencies equally at about 18 percent by the end of 2023. Agreement seems widespread and consistent that sequestration, as a realand-viable act, is in no one’s best interest. Interestingly, today’s struggle to avert sequestration reflects both the summer of 2011, when the nation came within hours of financial default and the prior 12 years of deficit spending that underpins the struggle: find a mutually agreeable path to restoring fiscal balance and shrink the national debt – as was the case at the end of 2000. The two sides debate the very reason why we’re here, knowing that their actions and inactions presaged this outcome. But one painful truth seems resolved, beyond the other debates and disagreements: sequestration, that mandatory, flat-rate axing of everyone’s budgets, assures pain and contraction for supporters of both sides of the debate, for supporters of different elements of the budget. For example, one area facing cuts is an absolute anathema to Defense Department supporters, people already predisposed to opposing even slowing the rate of Pentagon budget growth – let alone an actual reduction. Supporters of programs that directly aid people, as opposed to businesses and, indirectly, their people, already are dealing with budget reductions. They get support from economists on both party’s stripes when they warn of the dire impact sequestration’s cuts will have on people in need, causing job losses, added unemployment and slowed economic growth. Aviation interests started sounding the alarm back in August, warning of everything from manufacturing and business cuts, reduced spending on safety programs and contract towers, and added time to certification and other approvals as the FAA faces a budget reduction of more than $1 billion in the next year. If Congress acts, cuts can be avoided; failure to act means painful cuts. Both outcomes ensure the continuation of annual budget deficits and continued growth in the national debt. Neither party nor presidential candidate offers an economics platform that meaningfully moves the nation’s finances toward balancing. The one element unchanged is that the www.AvBuyer.com

opposing parties are no closer to a long-term solution than last summer – only the sequestration solution sounded so much less threatening last summer than it does today, as legislators face a deadline of January 1, 2013 to pass a replacement. This time the consequences are real and dramatic – aimed at every level of the budget except Social Security. Take a look at the concerns raised by various user-groups representing various elements of the aviation community.

THE MOST-OBVIOUS LOSER Congress only approved a budget for the FAA in February, on Valentine’s Day, and almost immediately the agency started acting on accelerating its efforts to complete the NextGen programs that will replace, by 2020 if schedules hold, today’s radar-based airtraffic surveillance system with one based on ADS-B (Automatic Dependent SurveillanceBroadcast). While much of the ADS-B infrastructure is in place, much more remains to be done in new procedures and getting the fleets equipped by the 2020 mandated deadline. Losing any moneys/momentum will not help progress, say agency insiders and aviation groups. Other important elements of the FAA’s activities are also at risk, though. As we mentioned above, the contract-towers program may face cuts, reducing the number of airports and staffed towers to work with an asof-now rebounding General Aviation activity level. Reducing the number of staffed towers is surely a step that reduces the safety margins and operating efficiencies of the losing airports. Aircraft and avionics certification progress may well slow further as the agency is forced to cut staff in the face of a smaller budget than originally planned. That means an increase in the time and cost required to move new airplanes to market, to produce and deliver new TSO’d avionics and cockpit equipment. Flight training, license processing, and the processing of pilot medical certificates could also take a hit. And paperwork processing of aircraft sales and new registrations would potentially suffer too.

FOLLOWING THE MONEY Even the efforts to avoid implementation of sequestration hold peril for the aviation communities, note officials from AOPA, the Experimental Aircraft Association, NBAA, and other aviation groups. The views of NBAA’s Ed Bolen, relayed by spokesman Dan Hubbard outline, “The sequestration process was designed to spur federal action on spending cuts and/or revenue increases. ❯ WORLD AIRCRAFT SALES MAGAZINE – October 2012

Sequestration Threat_FinanceSept 18/09/2012 11:49 Page 3

THE SEQUESTRATION THREAT While there remains significant uncertainty about how this process will unfold, it is clear that Business Aviation has a great deal at stake. Cuts at the FAA are likely, and there will undoubtedly be some push for a per-flight user fee. “Now is the time for NBAA members to communicate with their elected officials at the local, state and federal levels.” Hubbard noted that NBAA members can make their thoughts about user fees known by using the Association's online Contact Congress advocacy resource (www.nbaa.org/contactcongress). It’s worth not being shy.

A RISKY RUSH TO DO “SOMETHING” Bolen worries greatly about the potential for a user-fee provision to win agreement in private meetings between the parties’ leaders – and then to slip quietly into law and gain the President’s signature without the user groups noticing or being informed. “It’s a tremendous risk,” said one association lobbyist who insisted on anonymity. “The confusion, the rush of a Lame Duck Congress…there’s so much that can go wrong - and has gone wrong in the past. It can cost a body sleep.” It’s the prospect keeping lobbyists from aviation, space and defense groups hovering around the lawmakers. As this article was being written the Republican National Convention was meeting in Tampa to nominate Mitt Romney for president with the Democratic National Convention set to begin in Charlotte the following week. Aviation officials from many groups were in the thick of both conventions, pressing their issues with lawmakers attending as delegates to their respective party’s conventions. “You can’t afford to miss an opportunity to talk to them away from Washington, where the atmosphere is a little more relaxed, the mood a lot more buoyant,” noted our anonymous lobbyist. “We’re here and so are most of the Washington-based aviation-industry and aviation-community groups, so they’ll remember we spent time with them here when we’re back in D.C., working for a solution that avoids sequestration. We’re not optimistic on that one, though.” Why such anathema to sequestration? AOPA’s Fuller explains, “Sequestration doesn't allow for the thoughtful consideration of how potential budget cuts would affect vital services like air transportation. It's the difference between using a cleaver and a scalpel – both may be effective cutting tools but one does a lot more collateral damage. “The aviation community and the federal government have made enormous investments of time, energy, and resources in

WORLD AIRCRAFT SALES MAGAZINE – October 2012

Sequestration doesn't allow for the thoughtful consideration of how potential budget cuts would affect vital services like air transportation. - Craig Fuller - AOPA improving safety, modernizing the air traffic system, and promoting efficient operations. Poorly thought-out cuts in programs and personnel could undo much of the progress we've made in the past decade and create a new set of problems for an industry that is just getting back on its feet after the long economic downturn.”

THE COMBINED IMPACT Of course, aviation isn’t the only industry or community that fears the effects of the “cleaver”, per Fuller’s analogy. Supporters of highway construction, bridge maintenance, student programs, senior-citizen centers – every element of life touched by the federal www.AvBuyer.com

budget – have similar feelings. But it’s the warnings of economists across the political spectrum that combines to raise the stakes to their highest. Their consensus: Sequestration would cause federal-worker and private-business job loses – that seems unavoidable. Those losses would push up unemployment, and in turn drive down economic activity, leaving us mired in a second wave of recession. If any element of the sequestration question is apt to bring lawmakers together, these economists hope it’s that specter – and that lawmakers don’t wait until after the November election to work on avoiding the pit the nation faces. Aircraft Index see Page 4

WAS 'Nothing' April 2011 20/09/2012 13:18 Page 1

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JMesingerOct12_JMesingerNov06 18/09/2012 16:29 Page 1

THE AVIATION LEADERSHIP ROUNDTABLE

A Time To Talk: Our Annual Meeting and Convention here are so many market stats that are circulating these days. Asking prices up; asking prices down; selling days shorter; fewer planes on the market. Dizzying input. It is fast approaching the time in our industry that comes each year in the fall - the NBAA Meeting and Convention – an equally dizzying time, mostly owing to the incredible amount of information available to digest. This will be a time to come together as an industry to see each other, share stories, show pictures of new grandchildren and discuss first-hand the real market conditions. This is probably my 25th convention, and many attendees - like myself - have been in this industry for over 30 years. It is one of the highlights for me and my friends to see each other. So many of us have family businesses, and now many of us have our kids in the business and attending with us. What joy to have this connection as a family! Our company always looks forward to these few days of interaction, education and focus. The manufacturers take this meeting to share new market introductions, deliver important maintenance advances to operators who are in attendance, and welcome those prospects who are shopping for new aircraft. The static portion of the show allows prospects and sellers to come together and meet each other and experience the opportunity to walk into, and around many new and pre-owned aircraft that are offered for sale. Avionic and engine manufacturers, and interior and modification suppliers all get the opportunity to remove the phone and emails from between themselves and their customers and enjoy this important face-time as well. In general it is one of the finest chances we all have to come together and learn, teach and catch up. The participants of each year’s meeting and convention also have wonderful educational seminars to attend (visit www.nbaa.org to scout the schedule of sessions), and this year I will once again be co-hosting with my partner and fellow NBAA Board member Jeff Lee a session on doing business, and operating business air-

100

WORLD AIRCRAFT SALES MAGAZINE – October 2012

craft in China. This has become an annual program for Jeff and I and we had over 300 people in attendance last year. (This year we are still riding the high from ABACE. We have learned so much, and so much has been accomplished with respect to the understanding of operating in China that this year’s session promises to be our most informative yet. It takes place on October 30th between 2:30 and 4pm.) There are a myriad of other topics, and NBAA goes through a great vetting process to be sure that presenters and subjects are relevant. So much is changing in our global market that these annual meetings are a real value add for all of us that are either earning our living selling and servicing our industry (the NBAA Associate Member) or operating these amazing business tools in the course of their businesses (the Corporate and Business Member).

All of the above are critically important questions and often not answered without a 360 degree view of the question. For those in the industry, we leave this convention with important information that should be meaningful and critical to our prospects and clients. Through airspace discussions and tax and regulatory updates among other topics, those who are operating in this changing environment take away a larger toolbox with which to continue growth and safe operations worldwide. This year I am sure that a great deal of the conversation - especially between Associate Members - will be the statistics that are published daily with respect to the recovery and health of our global market place. This topic of course is not just important to us but it’s even more important to those owners and operators who often struggle to put the pieces together and define the market they have www.AvBuyer.com

invested so heavily in with the acquisition and operation of aircraft. Are values up? Is inventory truly down, or at least leveling out? How do these statistics effect current sales prices and long- and short-term residual value? All of the above are critically important questions and often not answered without a 360 degree view of the question. Reading statistics can often be very misleading if not anchored with the reality of the input from the aircraft sales professionals that are in the field daily, working to create meaningful offerings that capture that fine balance between the benefit of the aircraft and pricing of the market. I am sure if you walk up to any two aircraft sales professionals at the convention you will no doubt be interrupting a conversation about this very topic. So aside from being able to dance and sing to the songs of Frankie Valli and the Four Seasons at the NBAA/CAN Soiree, benefiting the Corporate Angel Network, everyone attending the 2012 NBAA Meeting & Convention should be able to go home having seen old friends, but most importantly go home more knowledgeable about our marketplace; more capable of having a discussion with their clients about the real state of the market; and more capable than before the meetings and conversations of being able to shape our near term future. See you all there! ❯ Jay Mesinger is the CEO and Founder of J. Mesinger Corporate Jet Sales, Inc. Jay is on the NBAA Board of Directors and is Chairman of AMAC. He served on the Duncan Aviation Customer Advisory Board for two terms and is now on the Jet Aviation Customer Advisory Board. Jay is also a member of EBAA and the Colorado Airport Business Association (CABA). If you would like to join in on conversations relating to trends in Business Aviation, share your comments on Jay’s blog www.jetsales.com/blog, Twitter and LinkedIn. More information visit www.jetsales.com Aircraft Index see Page 4

Action Aviation July 20/08/2012 18:01 Page 1

ed at iv er ot ll M Se

1996 Cessna Citation VII Serial Number 650-7070

THE CITATION VII IS A VERY CAPABLE AIRCRAFT FOR A REMARKABLY LOW ACQUISITION COST: · Range with six passengers and reserves: 2220 nm (4110 km) · Max range with two passengers and reserves: 2500 nm (4600 km) · Max Cruise Speed 476 kts (881 km/hr) · Up to 8 passengers with a stand-up cabin and enclosed lavatory at back · 700 lbs of externally accessible baggage (8-10 medium soft bags) · Engines on Honeywell Gold MSP · Aircraft on Cessna Pro-Parts program · Fresh Annual Inspection · JAR OPS 1 Compliant, RVSM THE CITATION VII WAS CESSNA’S CULMINATION OF THE C650 LINE OF AIRCRAFT AND ORIGINALLY SOLD FOR $11M IN 1996

TTSN: 7580. Cycles: 5560. Honeywell SPZ 8000 dual digital flight director/autopilot system comprising: 5-Tube EFIS · Dual Honeywell FMSs · EGPWS · TCAS II · CVR · FDR · RAD ALT · HF Radio - Dual Mode-S RNZ-850 transponders · Dual RNZ-850 ADFs · Honeywell Primus Color Radar · ELT · Cabin Airshow For Further Information: Europe: +44 20 7266 2845 or Middle East: +971 4397 1828

Action Aviation FZE co. (UAE):

Action Aviation Ltd. (UK):

Action Aviation Pvt Ltd. (India):

Tel: +971 4 397 1828 Mob: +971 50 457 6639 sales@actionaviation.com

Tel: +44 (0) 20 7266 2845 Mob: +44 7715 990936 infoUK@actionaviation.com

Tel: +91 80413 30900 Mob: +91 98450 68784 infoIndia@actionaviation.com

w w w. A c t i o n A v i a t i o n . c o m

ACSpecs IntroOct12_AC Specs Intronov06 18/09/2012 14:04 Page 1

AIRCRAFT SPECIFICATIONS: MEDIUM JETS

NOVEMBER ISSUE: Small Jets DECEMBER ISSUE: Turboprops JANUARY ISSUE: Businessliners

Aircraft Performance & Specifications Description of Cost Elements he World Aircraft Sales Magazine Guide to Aircraft Performance and Technical Specification Data is updated by Conklin & de Decker on a regular basis. The Guide is much more comprehensive and informative, providing more aircraft types and models and including variable cost numbers for all models. This month’s category of aircraft Medium Jets – appears overleaf, to be followed by Small Jets next month. Please note that this data should be used as a guide only, and not as the basis on which buying decisions are taken. The data presents aircraft aged below 20 years of age only, but Conklin & de Decker provides details of older airplanes too. If there are any other ways in which we can improve the content or presentation of this information, please let us know.

❯ Tel: +44 (0) 208 255 4000;

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

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

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nate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft. • Ferry Range - is the maximum IFR range of the aircraft with the maximum fuel on board and no passenger seats occupied. This uses the NBAA IFR alternate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft. • VFR Range - Seats Full is the maximum VFR range of the aircraft with all passenger seats occupied. This is used for all helicopters and piston fixed-wing aircraft. • VFR Ferry Range - is the maximum VFR range of the aircraft with the maximum fuel on board and no passenger seats occupied. This is used for all helicopters and piston fixed-wing aircraft. 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 Takeoff Weight (MTOW). LANDING DISTANCE (FACTORED) For fixed-wing turbine aircraft, landing distance is computed using FAR 121 criteria. This takes the landing distance from 50/35 feet (depends on certification criteria) and multiplies that by a factor of 1.667. No credit is given for thrust reversers. Configuration is with four passengers and NBAA IFR Fuel Reserve on board. For fixed-wing piston aircraft, this figure is the landing distance over a 50 foot obstacle. RATE OF CLIMB (Ft/Min) The rate of climb, given in feet per minute, is for all engines operating, at MTOW, ISA conditions. One Engine Out rate of climb is for one engine inoperative rate of climb at MTOW, ISA. CRUISE SPEED (Knots True Air Speed - KTAS) Max Cruise Speed - is the maximum cruise speed at maximum continuous power. This may also be commonly referred to as High Speed Cruise. Normal cruise speed is the recommended cruise speed established by the manufacturer. This speed may also be the same as Maximum Cruise Speed. Long Range Cruise is the manufacturer’s recommended cruise speed for maximum range. ENGINES The number of engines, manufacturer and model are shown. Aircraft Index see Page 4

CORPORATE AIRSEARCH INTERNATIONAL, INC. PHONE: +1 (561) 433-3510 | www.caijets.com

2008 GULFSTREAM G150

1991 BEECHJET 400A

This Gulfstream G150 has only 299 Hours TTSN. Offers a Wide Cabin with Maximum Range of 2,950 nm with 4 Passengers, 2 Crew, NBAA IFR Reserves at 430 KTAS (Mach .75) or Normal Cruise of 459 KTAS (Mach .80). Universal 7 Passenger Interior.

2006 TBM 850

Only 725 Hours TTSN. Equipped with RVSM, 2-Tube Bendix EFIS, Dual Garmin 530’s with WAAS, Garmin GMX-200 MFD with Chartview, TAS/TAWS, WX-500, Garmin GDL-69A Real Time Weather, and Garmin GTX-327 & GTX-330 Transponders.

2001 TBM 700B

jp@caijets.com PALM BEACH, FLORIDA

S/N 239 1,750 Hours TTSN, 397 SHS, 305 SPOH, Equipped with 2-Tube Bendix EFIS, Dual Garmin 530’s with WAAS, Garmin GMX-200 MFD with Chartview, Skywatch HP, Garmin GDL-69 Real Time Weather, and No Damage History. Aircraft located in Europe.

1991 TBM 700A

S/N 200 1,679 Hours TTSN, 802 SHS, 489 SPOH, Honeywell/Garmin Avionics incl. 2Tube EFIS, Dual Garmin 530’s, KGP-560 EGPWS, Sandel SN 3308 EHSI, WX-1000E Stormscope, Annual and 10-Year Inspection c/w January 2012 and NDH.

PRESIDENT, CORPORATE AIRSEARCH INTERNATIONAL

9,579 Hours TTSN, 2703/1745 SMOH, 764/1745 SHS, Collins Proline IV Avionics, Freon Air, Thrust Reversers, RVSM, New Pant & Interior 2006, On CAMP and No Damage History. Priced Aggressively at $699,000.

2002 TBM 700B

S/N 351

CONTACT J.P. HANLEY

S/N RK-19

S/N 003 Only Two Owners and 3430 Hours TTSN, 350 Hours SMOH, Garmin 530/430, Sandel EHSI, Gear on Long Life Program, NEW Windshields and De-ice Boots Fitted March 2012, Gear Actuators Overhauled March 2012, Located in Belgium, always Hangared, and No Damage History.

LIST YOUR AIRCRAFT WITH CAI CALL US FOR MORE INFORMATION ABOUT OUR PROVEN SUCCESS RECORD.

PHONE: +1(561) 433-3510

www.caijets.com

AIRCRAFT SPECIFICATIONS

BO MB AR DIE RL EA RJE T4 BO 0 MB AR DIE RL EA RJE T4 BO 0X MB R AR DIE RL EA RJE T4 BO 5 MB AR DIE RL EA RJE T4 BO 5X MB R AR DIE RL EA RJE BO T6 MB 0 AR DIE RL EA RJE T6 CE 0X SSN R AC ITA TIO NV I CE SSN AC ITA TIO NV II CE SSN AC ITA TIO NE XC EL

AircraftPer&SpecOct12_PerfspecDecember06 18/09/2012 14:11 Page 1

MEDIUM JETS $2,173.48

$2,089.10

$2,223.75

$2,132.89

$2,394.85

$2,371.94

$3,189.09

$3,203.64

$2,484.50

CABIN HEIGHT FT.

4.92

5.71

5.7

CABIN WIDTH FT.

5.12

5.92

5.5

CABIN LENGTH FT.

17.67

19.75

17.67

18.4

18.5

CABIN VOLUME CU.FT.

368

363

410

453

438

461

DOOR HEIGHT FT.

4.8

5.3

4.54

DOOR WIDTH FT.

2.5

BAGGAGE VOL. INT. CU.FT.

BAGGAGE VOL. EXT. CU.FT.

CREW #

SEATS - EXECUTIVE #

MTOW LBS

20350

21000

20500

21500

23500

22000

23000

20000

MLW LBS

19200

19500

20000

18700

B.O.W. W/CREW LBS

13718

13950

13890

14144

14772

14902

13800

14250

12500

USEABLE FUEL LBS

5375

6062

7910

7329

7330

6740

PAYLOAD WITH FULL FUEL LBS

1507

1925

798

1544

1068

938

1071

1620

960

MAX. PAYLOAD LBS

2282

2050

2110

1856

2228

2098

1600

2250

2500

RANGE - SEATS FULL N.M.

1573

1547

1423

1679

2186

2044

1770

1693

1449

MAX. RANGE N.M.

1707

1684

1968

1939

2418

2400

2000

1824

1839

BALANCED FIELD LENGTH FT.

4330

4680

4350

5040

5450

5630

5170

4060

LANDING DIST. (FACTORED) FT.

4033

4060

4063

4105

5208

5317

4208

4500

4917

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

2820

2800

2630

4500

3699

4315

3790

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

710

394

590

589

714

718

805

510

699

MAX. CRUISE SPEED KTAS

465

427

452

433

NORMAL CRUISE SPEED KTAS

436

427

452

433

L/RANGE CRUISE SPEED KTAS

428

433

416

436

423

418

417

373

TFE 731-20AR

TFE 731 -20BR

TFE 731-20AR

TFE 731 -20BR

PW305A

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

TFE 731-3B TFE 731-4R-2

PW545C

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

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Aircraft Index see Page 4

Carolina Jet October 18/09/2012 18:11 Page 1

2006 Citation Sovereign, S/N 680-0108, 2350 TT, One Owner, Mode S Enhanced Surv., Aircell ST-3100, HF, Selcal, Dual Nicad Batteries, Much More!......................................$8,995,000.

2002 Learjet 45, N179MR, S/N 45-179, 4325 TT, BR Engine Mod, MSP Gold, APU, Dual FMS, Gross Weight Increase, Nice Paint & Interior....................................................$4,200,000.

2011 Citation CJ3, S/N 525B-0372, 150 TT, Power Advantage Plus, ProParts, CVR Provisions, TCAS II, AvVisor Plus, Aircell, Airstair Style Step, Belted Flushing Lav...........$7,195,000.

1999 Challenger 604, G-MPTP, S/N 5403, 5786 TT, 37/37 SMOH, Triple FMS, TCAS II, HUD CAT II Certified, Recent Inspections.....................................................................$7,250,000.

1987 Hawker 800A, N457J, S/N 258085, 7700 TT, MSP Gold, APU, 2009 Paint by Elliott, TCAS 4000 w/change 7, Aft Baggage, Microwave Oven, G Insp. August 2011..........$1,575,000. PHONE: 336.723.3461 FAX: 336.722.7585 CELL: 336.971.2134 WWW.CAROLINAJET.NET BRANDON@CAROLINAJET.NET Tennessee: Mark Hicks – mhicks@carolinajet.net – 615.944.4454

75 0 HA WK ER

AIRCRAFT SPECIFICATIONS

CE SSN AC ITA TIO NX LS CE SSN AC ITA TIO NX LS+ CE SSN AC ITA TIO NS OV GU ER LFS EIG TRE N AM G1 00 GU LFS TRE AM G1 50 GU LFS TRE AM G2 00 GU LFS TRE AM G2 80 IAI AS TRA SP

AircraftPer&SpecOct12_PerfspecDecember06 18/09/2012 14:12 Page 2

MEDIUM JETS $2,403.60

$2,373.43

$2,755.79

$2,479.34

$2,333.56

$3,082.56

$3,060.29

$2,696.89

$2,865.41

CABIN HEIGHT FT.

5.7

5.6

5.75

6.25

5.6

5.75

CABIN WIDTH FT.

5.5

4.75

5.75

7.2

4.75

CABIN LENGTH FT.

18.5

25.25

17.1

17.7

24.5

25.8

17.1

21.3

CABIN VOLUME CU.FT.

461

620

375

465

868

935

375

604

DOOR HEIGHT FT.

4.54

4.58

4.3

4.33

4.3

DOOR WIDTH FT.

2.5

2.08

2.1

2.75

2.08

2.25

BAGGAGE VOL. INT. CU.FT.

BAGGAGE VOL. EXT. CU.FT.

100

125

120

CREW #

SEATS - EXECUTIVE #

MTOW LBS

20200

30300

24650

26100

35450

39600

24650

27000

MLW LBS

18700

27100

20700

21700

30000

32700

20700

23350

B.O.W. W/CREW LBS

12800

18150

14365

15100

19950

24150

13400

16250

USEABLE FUEL LBS

6740

11223

9365

10300

15000

14600

9345

8500

PAYLOAD WITH FULL FUEL LBS

860

1177

920

850

650

1000

2055

2200

MAX. PAYLOAD LBS

2300

2650

2635

2400

4050

3600

2200

RANGE - SEATS FULL N.M.

1539

1528

2620

2550

2760

3130

3115

2330

2050

MAX. RANGE N.M.

1989

1976

3010

2910

3130

3530

3487

2780

2200

BALANCED FIELD LENGTH FT.

3940

3750

6000

5640

6600

5160

6400

4900

LANDING DIST. (FACTORED) FT.

4738

3867

4362

4050

4352

4745

4362

3803

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

3500

4016

3400

3340

3700

3500

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

800

1237

493

606

395

1010

530

MAX. CRUISE SPEED KTAS

433

440

459

474

470

460

447

NORMAL CRUISE SPEED KTAS

433

440

459

470

448

430

L/RANGE CRUISE SPEED KTAS

373

388

430

459

414

402

PW545B

PW545C

PW306C

TFE 731-40R

TFE 731 -40AR

PW306A

HTF 7250G

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

TFE 731-3C TFE 731-5BR U

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Aircraft Index see Page 4

Project1_Layout 1 17/09/2012 17:43 Page 1

– and more

1st Source Bank has more than 25 years of experience as a leading national aircraft lender, and almost 150 years as a full service bank. We know aircraft financing – and we know banking. The aviation lenders at 1st Source – experts in aircraft financing – can give you the right advice and the right financing to get you airborne fast. Our service is outstanding, and we have the full array of financial products and services to keep you coming back. Whether you are a first time buyer, trading up or refinancing your current aircraft, give us a call. Strong, stable and personal, we’ll keep your best interests in mind. Contact us at 574-235-2037 or by e-mail at marketing 1stSource.com.

40 00 HA WK ER

AIRCRAFT SPECIFICATIONS

HA WK ER BEE CH CR AFT HA HA WK WK ER ER 80 BEE 0 CH CR AFT HA WK HA WK ER 80 ER 0X BE P EC HC RA FT HA HA WK WK ER ER 80 BEE 0X CH Pi CR AFT HA WK HA WK ER 80 ER 0X BE PR EC HC RA FT HA WK HA ER WK 85 ER 0X BE P EC HC RA FT HA HA WK WK ER ER 90 10 0X 00 P

AircraftPer&SpecOct12_PerfspecDecember06 18/09/2012 14:13 Page 3

MEDIUM JETS $2,930.81

$2,938.48

$2,875.37

$2,951.52

$2,653.55

$2,945.58

$3,675.76

CABIN HEIGHT FT.

5.75

CABIN WIDTH FT.

6.46

CABIN LENGTH FT.

21.3

24.4

CABIN VOLUME CU.FT.

604

680

762

DOOR HEIGHT FT.

4.3

4.25

DOOR WIDTH FT.

2.25

2.5

BAGGAGE VOL. INT. CU.FT.

114

BAGGAGE VOL. EXT. CU.FT.

CREW #

SEATS - EXECUTIVE #

MTOW LBS

27400

28000

31100

39500

MLW LBS

23350

25000

33500

B.O.W. W/CREW LBS

16000

16250

16500

16330

16500

18150

23700

USEABLE FUEL LBS

10000

11440

14600

PAYLOAD WITH FULL FUEL LBS

1520

1750

1620

1790

1620

1510

1400

MAX. PAYLOAD LBS

2000

2050

1950

2120

1950

2150

2300

RANGE - SEATS FULL N.M.

2390

2470

2733

2525

2733

2970

3283

MAX. RANGE N.M.

2570

2620

2929

2710

2929

3150

3100

BALANCED FIELD LENGTH FT.

6300

5640

5258

5641

5258

6000

5459

LANDING DIST. (FACTORED) FT.

3787

3803

3805

3810

3805

3917

4373

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

3500

3415

3577

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

532

470

570

470

570

797

880

MAX. CRUISE SPEED KTAS

442

449

452

470

489

NORMAL CRUISE SPEED KTAS

429

430

440

470

L/RANGE CRUISE SPEED KTAS

389

402

400

447

TFE 731-5R

TFE 731-5BR

TFE 731-50R

TFE 731-5BR

TFE 731-50R

PW305B

PW308A

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

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Aircraft Index see Page 4

Aircraft Services Group July 20/08/2012 17:04 Page 1

Medium Jets Oct12_Gil WolinNov06 18/09/2012 16:17 Page 1

MEDIUM JETS REVIEW 2012 (PART 2)

Medium Jets Review 2012: (Part 2) OEMs give more to consider in the mid-size category. by Dave Higdon EMBRAER LEGACY 500 EXTERIOR AND INTERIOR

ontinuing the examination started last month of the many jets populating the mid-size segment, we have already established that it’s for their flexibilities and broad capabilities that medium jets enjoy such strong popularity. They are wellbalanced designs, capable of speeds that fly wing-tip to wing-tip with larger jets (sometimes faster) with space enough to gain a comfort edge over the light jets, and range capabilities suitable for spanning hundreds of city pairings. Most retain runway flexibility that makes them more appealing than large cabin jets, and they work with a level of affordability commensurate with their place in the peck-

110

WORLD AIRCRAFT SALES MAGAZINE – October 2012

ing order: productive at a level matching their needs, and at costs matching their budgets. Not too small, not too large, the mid-size jets just might have the Goldilocks in all of us opting for “the one” with that “just-right” fit. In general, jets with maximum take-off weights ranging ranging between 20,001 pounds and 40,000 pounds (approx) belong to this class. While cabin volume could be used to define them, the OEMs don’t consistently define their cabin lengths. Weight is consistent - in pounds and in kilograms. As always, mission payloads are exclusive of the basic operating weight – a number that includes a theoretical pair of 200-pound flight-crew members and their equipment. In www.AvBuyer.com

this manner the payload number measures how much the operating aircraft can carry, in whatever combination the crew wants in passengers, luggage and fuel. With the parameters set, let’s meet the remainder of the Medium Jet segment.

EMBRAER: LEGACY 450 & LEGACY 500 Embraer’s two medium jets, the Legacy 450 and Legacy 500, epitomize a decade in which the company has moved rapidly to embrace the corporate market - first with the Legacy 600, then the Phenom 100 and 300, then the Lineage 1000 and Legacy 650, and the Legacy 450 and Legacy 500 to be next to market. The Legacy 500 and by extension the folAircraft Index see Page 4

Medium Jets Oct12_Gil WolinNov06 18/09/2012 16:18 Page 2

low-on 450, have suffered from a number of delays brought on by issues with the new flyby-wire hardware from Parker Aerospace. Thus, the Legacy 500 is now expected to make its first flight in the fourth quarter – with a possible collateral delay of entry into service into early 2014. Regardless, the numbers have not changed and Embraer holds claim to the pair providing the largest cabins among their direct competitors. Both the Legacy 500 and 450 sport cabins with a 6-foot height and a flat floor throughout. Aside from the different cabin lengths and requisite weights, these models share virtually everything else (range capabilities aside), including Honeywell’s advanced HTF7500E powerplants for the Advertising Enquiries see Page 8

fuel-efficient power the designs need, and the ProLine Fusion advanced flight deck from Rockwell-Collins. They even share in cruise capability with a sporty Mach 0.82 for high-speed cruise. The two Legacies also offer a significant difference in range capabilities, however. Embraer’s Legacy 450 offers a maximum range of 2,300 nautical miles at long-range cruise (with four in the cabin). With eight in the cabin, 2,200 nautical miles at a respectable Mach 0.78 becomes the range capability. For those who want more, the Legacy 500 promises a long-range cruise of 3,000-nautical miles at long-range cruise (with four on board), or a slightly shorter 2,800 nautical miles carrying eight (at Mach 0.80). www.AvBuyer.com

In addition to their speedy and spacious ways the Legacy 450 and 500 can claim among the shortest runway needs of any medium jets - a meager 4,000 feet for the Legacy 450 and 4,600 feet for the Legacy 500. The Legacy 450 and 500 are the only midsized business jets to feature a full fly-by-wire flight control system, an innovation that brings valuable benefits. The full fly-by-wire system with side-stick controls will enable a smoother and safer flight and offer passengers and pilots the advantage of optimized performance, increased comfort, greater control, reduced workload and flight envelope protection.

❯ More information from

www.embraerexecutivejets.com WORLD AIRCRAFT SALES MAGAZINE – October 2012

❯ 111

Medium Jets Oct12_Gil WolinNov06 18/09/2012 10:07 Page 3

MEDIUM JETS REVIEW 2012 (PART 2) GULFSTREAM AEROSPACE: G150 Built on the success of the first G- model, the GI – a twin turboprop design, Gulfstream has expanded to building seven different models. The G150, the smallest of the Gulfstreams, benefits from standards established years ago by the company as well as from the OEM’s continuing adaptation of new and improved technologies, some in the airframe aerodynamics, some in propulsionsystem efficiency, some in cabin accoutrements and others in flight-deck systems. The Gulfstream G150 carries fuel capacity to fly nearly 3,000 nautical miles traveling at Mach 0.85; but at that weight the G150 still need a take-off runway of less than 4,000 feet (about 4,300 feet for landing). Gulfstream’s bragging rights excel among medium jets (as can any jet able to demonstrate its eligibility for operations at London City Airport. This highly constrained field sits just off the river at a converted maritime loading pier in the Docklands District on the Thames. Demonstrating the ability to land and launch at London City’s short runway stands as a significant and highly challenging feat). Honeywell TFE731-40AR turbofans provide fuel-efficient power for launch, climb and cruise. To make the most of the G150’s capabilities, engineers also adorned it with Gulfstream’s proprietary PlaneView flight deck – a highly refined, model-specific variant of Rockwell Collins’ ProLine 21. The flight deck also boasts a variety of advanced fea-

G150 EXTERIOR AND INTERIOR

tures created to ease flight-deck workload and enhance crew situational awareness, among them the Safe Flight Automatic Throttle System (ATS), which continuously manages thrust during all phases of flight – from takeoff and climb to cruise and descent, as well as for approach, landing - even a go-around. The G150 crew benefits from selecting Gulfstream’s own Enhanced Vision System from among the available enhancements. Already popular among flight crews of Gulfstream’s larger models, EVS lets pilots see what would otherwise be invisible in the dark.

G280 EXTERIOR AND INTERIOR

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

The G150 also provides lots of space with a main cabin, nearly 18 feet long and both 5.8 feet tall and wide. Gulfstream offers various design configurations to suit the needs of a variety of operators. For comfortably below the $16 million mark - with options Gulfstream’s G150 earns points for value as well as for its stand-out performance.

G280 The G200 slipped off the Gulfstream product list since we last reviewed the medium jets while the G250 gave way to the G280, which offers features and performance that bring to mind the G650 large-cabin counterpart in development by the company. Both boast some heady technological advances – among them, departures in control architecture. For the G280, the excitement is centered on its hybridized flight controls culminating with fully digital-electronic fly-by-wire actuation of the G280’s wing spoilers and rudder. The sophisticated PlaneView integrated flight deck grew out of Rockwell Collins’ new ProLine Fusion system, which blends functions and awareness tools for a new level of systems control and management. The resulting package of control advances, modern FADEC-controlled power, and leading-edge efficiency results in a jet capable of carrying a full eight people 3,000 nautical miles – and do so at Mach 0.85. Alternatively, at Mach 0.80 and with the same load, 3,400 nautical is achievable. To open up space on the multi-display integrated panel, Gulfstream’s engineers gave the G280 a side-stick controller for roll and pitch input; an at-hand CCD – or “cursor control device” – helps the crew manage the G280’s advanced systems, including two of Honeywell’s HTF7500-series fanjets. The G280 needs less than 5,000 feet of ❯ Aircraft Index see Page 4

Action Aviation July 21/08/2012 11:45 Page 2

Boeing 727-100 VIP/1966/36 PAX $4 million USD

MSN 19006. ENG #1 S/N HRS./CYC P-649607B HRS.35573,33 CYC.29297. ENG #2 S/N HRS./CYC P-653362B HRS.35642,33 CYC.30609. ENG# 3 S/N HRS./CYC P-653358B HRS.36157,33 CYC.28286. ENG.TYPE JT8D-9A Pratt & Whitney. APU TYPE GTCP85-98 CK. APU S/N HRS./CYC P-15639 HRS.5873. UPDATE 23-10-07. MAINTE.INSPE EXCELLENT CONDITION GACA CERTIFIED. FRESH C5-C6. AD ALL (AD) UPDATE TILL 2010/2011. COLLINS TCAS II SYS AND TDR-94D MODE S TRANSPONDERS ST094155C. COLLINS WXR-700X FORWARD LOOKING WINDSHEAR ST09107SC. COLLINS EFIS-86B (4/14) 5-TUBE ELECTRONIC FLIGHT ST09106SC. INSTRUMENT SYS SINGLE ALLIED/SIGNAL GNS-XLS FLIT MANAGE.SYS ST09343SC. DUAL HONEYWELL AZ-800 /AIRDATA COMPUTERS ST09106SC. DUAL HONEYWELL BA-141 ALTIMETERS DUAL HONEYWELL FZ-500 FLIT DIRECTOR SYS & SINGLE HONEYWELL AL-801 ALTITUDE ALERTER DUAL HONEYWELL AZ-800/AIRDATA SYS FOR ST09364SC. REDUCED SEPARATION MINIMUMS (RVSM) AIR SHOW 400, SATCOM, HUSK KIT FAA APPROV/SA3NM

EFIS SYSTEM - INSTRUMENT LAY AUT – ( TWO DPU - ) SEMI GLASS( SEMI GLASS ). TWO INERTIAL NAVIGATION SYSTEMS. ONE FMS – GNS – XLS ( HONEYWELL ). COLOR WEATHER RADAR ( MFD ) TWO HF- SYSTEMS. VOR- ILS – FM – IMMUNITY. VHF – 2- 8.33 SPACING. MODE S TRANSPONDER. TCAS INSTALLED. WIND SHEER PROTECTION. A/C RVSM QUALIFIED. G.P.W.S – INSTALLED. B727 AUX. FUEL TANK ( DE- ACTIVATED )

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Medium Jets Oct12_Gil WolinNov06 18/09/2012 16:19 Page 4

MEDIUM JETS REVIEW 2012 (PART 2) runway to start a lengthy journey. Beyond the front-office attributes and the performance parameters of the G280, however, Gulfstream’s designers paid ample attention to the folks riding in the back. The main cabin reaches nearly 26 feet long, stands 6.25 feet tall and spans 7.2 feet of width. The G280 should start landing on customer ramps later this year.

❯ More information from www.gulfstream.com

HAWKER BEECHCRAFT: HAWKER 4000 The Hawker 4000 – the largest aircraft this company and any of its former incarnations ever made – along with all of the company’s jets are in some state of limbo since the company filed for bankruptcy protection and announced it would either reorganize or sell itself to another entity. Since filing for reorganization the company has put before the court three plan prospects, one of which eliminates the Premier and its follow-on, one that eliminates the small and smaller medium jets – and one plan that eliminates entirely any jets from the resulting company’s business lines. That makes for a difficult task addressing the company’s jets. So let’s stick with the fundamentals – and wait for a resolution that may, or may not, feature any jets. Given time, the Hawker 4000 might yet realize its potential and climb to the heights of its predecessors. The cabin measures several inches wider and taller than its contemporaries; the Primus Epic integrated flight deck from Honeywell sets the standard; and Pratt & Whitney Canada’s two PW308A fanjet engines produce 6,800 pounds of thrust that help it set a high bar for other medium jets. However, performance sells in this segment every bit as much as space. With a Mach 0.84 maximum speed and 3,300-nautical-mile range, the Hawker 4000 is solidly in the mainstream of the category while the cabin volume puts it at the upper end of its class. Runway performance as short as 4,500 feet also make the airplane flexible, and the price (around $23 million) makes it more than a little competitive within the segment.

HAWKER BEECHCRAFT 4000 EXTERIOR AND INTERIOR

hot-and-high operations. Conversely, the Hawker 750 retained Honeywell’s TFE7315BR engines after their success powering the 850XP. Engineers did remove a fuel tank from the aft fuselage, expanding luggage space in the process; and the wing remains unchanged. These two jets complement each other. The Hawker 750 flies about 2,100 nautical miles while the more-capable 900XP delivers

a maximum range of nearly 2,900 nautical miles, thanks to a higher gross weight and added fuel capacity. The question now seems to be, will either model enjoy the future planned for them when development began? Time will answer that one.

❯ More information from www.hawkerbeechcraft.com

HAWKER 900XP EXTERIOR AND INTERIOR

HAWKER 750 & 900XP Following on the successes of the 800-series, Hawker Beechcraft opted to build two models - the Hawker 750 and 900XP - to cater to buyers with different needs. Both employ Rockwell Collins’ advanced ProLine 21 flight deck that gained ground in the 850XP. They also share in cabin amenities and space at 21.3 feet long, 5.7 feet high and 5.9 feet wide. From here, however, they diverge. For the Hawker 900XP, Honeywell’s wellregarded TFE731-50R powerplant aids in range, climb performance, economy and

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www.AvBuyer.com

Aircraft Index see Page 4

Kaiser Air August 21/08/2012 11:57 Page 1

1989 GULFSTREAM GIV N619A (S/N 1123) Make offer

AVIONICS

STATUS AS OF MAY 24, 2012 Registered Operator: KaiserAir, Inc. Aircraft Home Base: Oakland Intâ&#x20AC;&#x2122;l Airport (KOAK) Tail Number: N619A Serial Number: 1123 Total Time on Aircraft: 8,544 Hours Total Cycles: 6,221 Landings Date of Manufacture: 1989 Maintained on MSG-3 Schedule

ROLLS-ROYCE TAY ENGINES 611-SER Total Time Total Cycles Overhaul Completed 10 Year Due Total Time Since Overhaul

Left 8267 hours 6119 May 2008 May 2018 212.4 hours

Right 8450 hours 6193 Dec. 2007 Dec. 2017 479.7 hours

INTERIOR Newly Remodeled 2006: Beige interior with European Beach Wood with Gold Trim

EXTERIOR Newly painted 2006: Basic White with Blue Stripes

Contact: Sandy Waters. E-mail: sandy@kaiserair.com Tel: +1 510 553-8437. Fax: +1 510.635.3173 P.O. BOX 2626, Airport Station, Oakland, CA, 94614 www.kaiserair.com

Honeywell FZ-820 Flight Director 3 Collins VHF-422C VHF Comms Dual Collins VIR-432 Navs Dual Collins ADF-462 ADF Dual Collins TDR-94D Transponders Dual HF Comm Motorola Selcal Three Honeywell NZ-2000 Two Honeywell FMS CDU Model 820 Honeywell FMS Data Loader 950 Dual Honeywell Radio Altimeter Heads-Up Display HUD 2020 Dual Honeywell 12 Channel GPS Iridium SAT Phone (Wireless Handset Cabin and Cockpit) ICS 200 Dual Collins DME-442 Allied Signal EGPWS Honeywell SATCOM MCS 3000 Fairchild A 100 CVR Honeywell TCAS w/Change 7 Honeywell Cabin Management System CMS Three Honeywell IRU Laserefs Honeywell GP-820 Autopilot Honeywell 880 Radar RVSM Certified Honeywell ISDU Flight Data Recorder

MISCELLANEOUS 16 Pax Custom Executive Interior. Forward Galley. Fwd Cabin Conference Table. Mid Cabin Divan and Two Chairs Aft Cabin. Forward and AFT Lavatory. Airshow w/Color Monitor. Full Entertainment Center. Apple Mini Mac Computer w/Wireless Mouse & Keyboard. Dual Coffee Makers. Toaster. High Temp Oven. Microwave. Apple iPod. Dual Honeywell DVD Players. Single Honeywell CD Player Specifications subject to verification upon inspection. Subject to prior sale or removal from the market without notice.

Interview with Ed Bolen 2012_PAMA interview November06 18/09/2012 16:26 Page 1

TEN QUESTIONS FOR ED BOLEN

ED BOLEN - PRESIDENT, NBAA

Ten Questions For Ed Bolen 2012 brings some successes - 2013 promises more pugilistics. by Dave Higdon pring, Summer, Fall, Congress in-town and attending to business or on the campaign trail, NBAA’s (National Business Aviation Association) efforts continue unsparingly on behalf of its more than 9,000 operating members. In the face of partisan politics in the Capital, the Association’s President, Ed Bolen, keeps a warm, smiling, engaged persona. He may smile less and sound more serious rather than dwell on the negative aspects of an issue, but he keeps the rhetoric professional, on-point and membership-focused. Such was his attitude last fall when Congress was clearly headed toward yet another extension of the Federal Aviation Administration’s operating authority (the 23rd such extension in the four years since the prior law expired on October 1, 2007). “We just keep pushing them along the path to doing the right thing and passing a

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workable bill so the FAA can get along with its efforts to modernize ATC and improve other services,” he told a reporter during a casual conversation in the midst of the FAA partial shutdown when Congress failed to agree on the 22nd extension before adjourning for what was essentially a four-week campaign break in July 2011. That one clearly taxed his patience; but he continued to keep a level head. But then came an unexpected Valentine’s Day treat earlier this year: President Obama signed H.R. 658 into law, authorizing the FAA’s operations through September 30, 2015 – a duration about five months shorter than the unprecedented period just ended in which Congress authorized continuing operations on old budgets a record 23 times. The push for the 2016 reauthorization has already started, and already the dividing lines are drawn – many of them the same, or similar, to the sticking points only recently www.AvBuyer.com

resolved. Bolen is confident that progress will continue; if not, it won’t be due to lack of effort by users and user groups. He’s got history on his side; NBAA helped overturn a Transportation Department decision to end the Blocked Aircraft Registration Request (BARR) program. NBAA also was core to the ‘so-far-still-winning’ collection of aviation groups striving to prevent passage and implementation of federal user fees on General Aviation operations – again. But, as has every President going back to George H.W. Bush, user fees are back in discussion because such fees were included in the White House’s most recent proposal for funding the FAA – back at $100 per flight for certain General Aviation flights. These and other issues have been on Bolen’s work schedule from the day he stepped into the NBAA job just over eight years ago. Along with the seeming perennials, how❯ ever, are a host of unusual, non-recurring Aircraft Index see Page 4

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Interview with Ed Bolen 2012_PAMA interview November06 18/09/2012 12:21 Page 2

TEN QUESTIONS FOR ED BOLEN issues, and Bolen gained experience in working them first as legislative director for U.S. Sen. Nancy Kassebaum (R-KS), where he played a key role in the passage of the General Aviation Revitalization Act of 1994 signed into law by President Bill Clinton. He also served as majority general counsel to the Senate Committee on Labor and Human Resources. Bolen moved into association work in 1995, first as Senior Vice President and General Counsel of the General Aviation Manufacturers Association (GAMA), and in 1996 Bolen was named president and CEO of GAMA. After eight years in that post NBAA’s board turned to Bolen for his leadership. So many of today’s aviation-related issues that face NBAA are constants, or recycled. Regardless of their duration or origin, however, they’re all on the table because of their importance to NBAA’s membership. At a time NBAA was preparing to hold ‘the granddaddy’ of all Business Aviation events, the 65th NBAA Convention, Bolen kindly agreed to sit down with us for another ‘Ten Questions’ interview.

Bolen: The FAA reauthorization bill worked out very well for us. In the broader context, only a handful of bills made it all the way through the process in the past year. From our perspective we were very happy to get a long-term bill through with no user fees, and with funding for NextGen; we also preserved the BARR program (Block Aircraft Registration Request). WAS: Do you anticipate a similarly contentious struggle for reauthorization as this year’s law approaches its sunset in the summer of 2015 – now only three years away? Bolen: My sense is the broad aviation community is working well together; we’re working together, talking to each other - and I’m hoping the quality and quantity of communications we have will allow us to continue the momentum to get another reauthorization through without a repeat of what we just experienced. WAS: As you mentioned, the new FAA bill authorizes more than $63 billion for the agency, including

But these are very challenging times economically. So, we still have challenges to our community to keep NextGen on-track, to continue the funding and make the program a reality. So we’ve made a lot of progress, but there will be significant challenges - and we all need to recognize that.

WAS: The DoT Inspector General recently noted his concerns with the FAA’s progress implementing Task Force recommendations created to help the agency better enact NextGen’s operational and technological changes between now and 2020. How do NBAA and its membership view the progress made so far? Bolen: NBAA was part of the group that developed the Task Force recommendations and worked with the Advisory Council to try to turn those recommendations into reality. We’re fairly happy with the progress, though the IG did raise some important points. But we’re on our way. WAS: One issue long in flux remains, so far, unresolved - and it was not part of the FAA bill: The status of the Department of Homeland Security’s Large

With the leadership and coordination we’ve seen from Capitol Hill and the organizations they’ve helped we’re more encouraged than we’ve ever been.

WAS: Last year, we asked you about your ideal FAA Reauthorization, and what things you’d most like to see. To highlight, you were looking for something that’s long-term; keeps us a leader; makes sure inventors and entrepreneurs can bring new products and services to market (facilitating programs like certified design organizations was very important); and to facilitate Business Aviation’s international reach was important to you. Looking at last February’s Valentine’s Day present, how well would you say General Aviation was treated? How close to the ‘ideal’ did Congress get? 118

WORLD AIRCRAFT SALES MAGAZINE – October 2012

Bolen: I think Congress has been very sup-

Aircraft Security Program proposal. It seems we’ve been hearing “pending” for more than two years. Should we in General Aviation consider ourselves fortunate for the inaction? Are you seeing any sign, or hearing any likelihood of the department unveiling a new LASP proposal at the 2012 NBAA Convention?

portive of NextGen (NG) and the FAA reauthorization reflects that. With the leadership and coordination we’ve seen from Capitol Hill and the organizations they’ve helped, we’re more encouraged than we’ve ever been.

Bolen: The security program notice came forward in November 2008 in the final days of the Bush Administration. It generated a lot of ❯ activity, public meetings, thousands of

significant funds toward continuing the transition to NextGen. Did, in NBAA’s view, Congress appropriately recognize the importance of funding to maintain progress and avoid cost increases with funds equal to the agency’s needs?

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Aircraft Index see Page 4

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Interview with Ed Bolen 2012_PAMA interview November06 18/09/2012 16:27 Page 3

TEN QUESTIONS FOR ED BOLEN comments, congressional hearings, and this all went a long way towards improving the understating between TSA and the industry. The rulemaking process is laborious and involved, and over the past year there’s been something of a moratorium on new regulations. We’ve been caught up in that. Until we know more it’s difficult to know whether the rule will be a step forward or a step backward.

WAS: Turning more to the industry’s status, different organizations continue reporting incremental signs of recovery in business flying and business aircraft sales. The foundation of Business Aviation, it seems, has long been the Part 91 operators whose activity levels are toughest to track. From what the association hears from its members, how close to 2007 levels are your members flying and what do you see as the long-term outlook?

WAS: NBAA membership recently surpassed the 9,000 level and shows no signs of stopping. At a time when so many companies look to shrink their budgets to help improve margins, to what do you account NBAA’s continued success in attracting and holding on to members? Bolen: We and the community have recognized the significant challenges we face in Washington D.C., and around the world we work to project an accurate view of Business Aviation. We have assets in operations and security that are valued and we make them available through workshops and meetings. We try to be constantly relevant and a resource to the community, and we view the growth in membership as indication that we are on the right track. We look at how people vote with their

Eight years ago we also recognized the importance of the international market, and that’s grown as we’ve seen with our show in Shanghai and our involvement with authorities around the world. It’s a constantly changing environment and we need to promote the realities of Business Aviation and the business and economic realities around the world, which is more closely knit than ever.

WAS: Can you give us a peek inside preparations for the Association’s 65th annual meeting and convention, and some insights into the advance registrations and vendor participation? Bolen: At this point it’s shaping up to be a very strong show in Orlando; we’re even with, or slightly ahead of where we were a year ago. So we’re very excited to see how it

Bolen: By historical standards 2006, 2007 and most of 2008 were high-water marks for our industry. We then went through a financial situation that was more severe than we’ve seen in decades – since the 1930s. Our industry took a precipitous drop – one third to one half, depending on how you measure it. Output, employment, flight hours – they all dropped. Now, in 2010, 2011 and 2012, we’ve moved off the bottom, but haven’t yet approached the levels of those earlier peak years. The market rebound has been bumpy – sometimes up, sometimes down – but the overall trend is that everything is moving up and on the right trajectory.

WAS: Forecasts of a pilot shortage took on some added credibility after Congress deemed to legislatively increase the time needed to fly as secondin-command on commercial aircraft - a rule that reaches into the depths of Business Aviation’s FAR 135 operators and beyond. Competition for cockpit talent could get increasingly tight with airline growth forecast to demand hundreds of thousands of new pilots worldwide. Are there steps that the Business Aviation community should be taking to help ensure it can hire at competitive wages should the tight market materialize? Bolen: I think there are a couple of factors that can help all of us with the future pilot population. A couple of things that already are difficult - the increase in hours required and the age 65 retirement date. Demands in China and the desire to use US-trained pilots in Asia will influence the market. NBAA has always tried to promote pilot development, to try to stimulate student pilots and new starts, and we do some benchmarking to highlight career opportunities. Our industry has a lot of challenges and this is one we all need to be working on. 120

WORLD AIRCRAFT SALES MAGAZINE – October 2012

feet and continue to join, and to our efforts to promote safety and professionalism as valuable to the operators.

WAS: In the eight years since you assumed your post NBAA has expanded its international reach and influence, built a regional series of events and built membership to an all-time high. What next do you want to see the association accomplish in the Business Aviation community? Bolen: There are some timeless realities for associations – the need to communicate with members; and to be active and involved in those markets where there is Business Aviation activity. What we’ve seen most in the past eight years is the changes in communications tools - the electronic avenues - and we’ve made them useful for our members. Eight years ago I wouldn’t have foreseen the value of Facebook and Twitter as tools for communicating with our members. www.AvBuyer.com

is shaping up. What you’ll see is NBAA continuing to emphasize the best practices and ways flight departments and operators can make the most of their business operations. We continue to focus on LBA (Light Business Aircraft), on the single pilot safety standdown; we’re continuing our LBA static display outside the convention center – it was very well accepted last year – and the mobile app we developed, and the educational programs are gong to be very relevant. One development that’s had increasing relevance in recent years is the iPad – so our conferences on using them in aviation operations will be well accepted. We’ve learned over the years that in good times and bad times, it’s important for us to come together and share information on our issues and how to help each other. We’re expecting an exciting, busy, highly valuable convention.

❯ More information from www.nbaa.org

Aircraft Index see Page 4

ABACE October 17/09/2012 18:05 Page 1

Inside Maintenance Oct12_FinanceSept 18/09/2012 10:55 Page 1

INSIDE MAINTENANCE - AGELESS CITATIONS

CITATION I

Ageless Citations Maintenance outlines and upgrades help keep the old birds flying. by Dave Higdon hen it comes to aircraft saturation, no company comes close to the bar set by Cessna Aircraft. In the wide and wondrous world of piston airplanes, Cessna out-distances all in terms of aircraft produced and flying. Cessna’s 172 Skyhawk numbers in excess of 43,000 since first being produced in 1955 (and that’s with about a decade of none being produced before production resumed in 1996). As a jet maker for more than 40 years, Cessna’s Citations total more than 6,300 units. A large percentage of all Citations produced continue to fly, thanks to the OEM and a product support network as deep as the numbers of airplanes produced. Add some

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clever upgrades that are available to Citation owners and it’s no small wonder why these jets remain big among pre-owned airplanes –with strong appeal to operators with more limited budgets. Consider these maintenance requirements and options to be steps to keeping even the oldest Citations flying into the next couple of decades. With thousands of Citations flying, the need to keep up maintenance helps keep Cessna’s Citation Service Center network busy with work on everything from the earliest 500-series aircraft to the latest Sovereign. For the purpose of this article, our focus is on the needs of prospects for the older Citation models. One indication of the value of simplicity and solid maintenance is the www.AvBuyer.com

cost to insure the oldest Citations: a little less than one percent of the hull value. That means a Citation I/SP fetching $475,900 would cost about $4,759 per year to insure. The strength of the airframe, its flying traits and the availability of solid maintenance all factor into that price. Comparable jets of similar age but with different performance levels and maintenance support can fetch triple the premium percentage. For example, an old Learjet 24 asking $475,000 could cost $14,250 per year to insure. Maintenance, easy flying and the ability to upgrade systems all go a long way toward insurance savings when it comes to older ❯ pre-owned jets. Aircraft Index see Page 4

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Inside Maintenance Oct12_FinanceSept 18/09/2012 16:25 Page 2

INSIDE MAINTENANCE - AGELESS CITATIONS PHOTOS COURTESY OF SIERRA INDUSTRIES

JETS GO THROUGH PHASES

124

The Citation 500/501 series all face a schedule of several dozen periodic (Phase) inspections, most keyed to operating hours while some others are keyed to operating cycles. Cessna provides operators with extensive documentation on those inspections or maintenance jobs; what’s involved; and where they can be performed – largely at any of Cessna’s extensive network of Citation Service Centers. Many third-party providers are also available to perform the work, giving operators one of the widest networks of factory and approved service centers of any jet flying. Let’s look at the basics for the 500/501 series Cessna: Firstly, the Phase B inspection - a general inspection of the airframe and powerplants scheduled for every 150 flight hours. For some operators that cycle would put the inspection more or less on an annual basis – and can be fit into an annual inspection for convenience or savings. A Citation that flies the industry average of 350 hours annually would, of course, face this inspection twice yearly. The next most-frequent inspections set are for every 300 hours or 24 months, whichever occurs first. Taken together these cover the entire aircraft when complete. The Phase 1 inspection is a detailed examination of the nose, cockpit and interior; Phase 2 looks at the wings, landing gear and empennage. Phase 3 covers the tailcone, and is followed by Phase 4 which inspects the powerplants and Phase 4/A-F on the airframe only. The Phase 5 inspection is on a three-year or 1,200-hour cycle and covers the entire aircraft and Phase 49 and 50 inspections also occur every 1,200 hours or three years, and focus on skin seams, windshields, mounts, and wing attach points. There’s a lot to keep up with. Another series of maintenance checks and inspections come with much-longer intervals, so they don’t come along often – but when they do they take the aircraft out of service for a longer period. The deep Phase 15 inspections for cracks in the empennage and tail structure comes along every 10,000 hours, for example; there’s a similar Phase 17 crack inspection for the main cabin structure, also at 10,000 hours and an inspection for the spar carrythrough. The engine mounts and cabin-door structures are on the Phase 16 cycle of 10,000- and 15,000-hours to head-off failures that can begin with undetected structural cracks. Phase 24 CT scan inspections of the fore and aft pressure bulkheads start at 10,000 hours, but afterward repeat every additionWORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

Aircraft Index see Page 4

Inside Maintenance Oct12_FinanceSept 18/09/2012 10:56 Page 3

INSIDE MAINTENANCE - AGELESS CITATIONS al 3,000 hours, while the Phase 52 visual inspections of those same pressure bulkheads start at 5,000 hours, repeating every 2,000 hours afterward. At 12,000 landings the phase MA inspection puts the nose landing gear fork under the microscope, and then repeats every 1,000 landings afterwards. Inspections of the main landing gear side braces under Phase MD start at 5,000 landings, repeating every 5,000 hours afterwards also. To cut a potentially much longer story short, there are hosts of longer and shortercycle inspections. While they may seem daunting in number and more than a little burdensome, adhering to these and other scheduled maintenance needs can help keep a Citation 500 or 501 working for many years to come. But there’s more that can be done to enhance these older airplanes than merely undergoing inspections and undertaking any resulting corrective work flagged up by them.

a digital on-board radar upgrade. The company also offers cabin-entertainment systems installation to enhance the experience of riding in the back cabin. Like any business aircraft, these older Citations can be spruced up further with interior and finish refurbishing. The message is clear that older Citations can have a long and productive life through the adherence to proscribed maintenance needs and progressive upgrades, whether avionics- and/or powerplant-based. The value you put in you’ll likely get back out through years of additional service without the costs and hassles of buying a replacement.

❯ Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: editorial@avbuyer.com

The message is clear that older Citations can have a long and productive life through the adherence to proscribed maintenance needs and progressive upgrades, whether avionics- and/or powerplant-based.

AVIONICS TO ENGINES Sierra Industries offers a number of packages for replacing avionics panels and powerplants in early Citations, including the trend-setting conversion to Williams FJ44 powerplants – similar to what powers the CitationJet family. The company also offers packages that increase span, improve climb, and replace the cockpit panel with modern digital systems. Indeed, the company has STC’d the installation of Garmin’s top-of-the-line FAR 23 integrated avionics package, the G1000 system Cessna employs on everything from the piston-powered 172, 182, turbo-powered 206 and 208 Caravan, as well as on the Citation Mustang entry level jet. Applied to Sierra, this upgrade is called the G501SP and is applicable (at present) specifically to the Citation 501 model, whether with Pratt or Williams engines. In cooperation with Garmin, custom software was developed to interface with the existing Citation autopilot system. This, along with retaining the original engine instrumentation (whether tape or dial gauges or Magic LCD gauges), helps to keep the basic system price under $300K. Innovative Solutions & Support also offers panel makeovers for Citations that modernize the cockpit to a level competitive with newer Citations, and Scandinavian Avionics offers similar packages employing Universal Avionics hardware in Citation II models. Banyan Air Service offers panel upgrades based on Garmin’s G600 combination PFD/MFD system and can further enhance the Citation cockpit with other Garmin hardware ranging from satellite datalink to Advertising Enquiries see Page 8

TOP: AN OLDER CITATION PANEL HAS BEEN DISASSEMBLED AT BANYAN AHEAD OF AN UPGRADE. BOTTOM: FOLLOWING THE UPGRADE, A GARMIN GMX-200 MFD (CENTER OF THE INSTRUMENT PANEL) AND ABOVE IT A GARMIN GPS-400, AND (LEFT) A SANDEL ST-3400 TERRAIN AWARENESS UNIT HAVE BEEN INSTALLED. THE AIRCRAFT WAS ALSO RVSM CERTIFIED.

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

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Asia Pacific Oct12_Gil WolinNov06 18/09/2012 11:59 Page 1

GLOBAL MARKETS - ASIA PACIFIC HAWKER BEECHCRAFT WAS GRANTED A 120-DAY EXTENSION TO ITS EXCLUSIVITY AGREEMENT WITH SUPERIOR

Asia Pacific Overview China continues to dominate the column inches. by Mike Vines hina continues to dominate the Business Aviation news in Asia Pacific, particularly with the strong possibility that a Chinese company will takeover over the US’s Hawker Beechcraft Company (HBC). Superior Aviation of Beijing had an exclusive agreement period (until 2nd September) with its $1.79 billion bid, and as World Aircraft Sales Magazine went to press a judge at New York’s Bankruptcy Court granted HBC a 120-day

Advertising Enquiries see Page 8

extension to this exclusivity agreement. Superior Aviation is 60% owned by Mr Cheng Shenzong and his wife, while the remainder is held by a private equity fund of the Beijing Economic-Technological Development Area, a unit of the Beijing Municipal Government. According to reports, the Beijing Municipal Government will provide subsidized interest rates or arrange interest-free bank loans for Superior to proceed with the deal. Superior Aviation has promised to maintain HBC’s existing www.AvBuyer.com

operations and preserve thousands of American jobs, but it will not include Hawker Beechcraft’s military assets, which will remain a separate entity. Embraer, meanwhile, has been granted permission by the Chinese Government to build Legacy 600/650s in China. The deal was signed by Embraer and Aviation Industry Corporation of China (AVIC) and will use the infrastructure, financial resources and workforce of their joint venture Harbin Embraer Aircraft Industry Co., WORLD AIRCRAFT SALES MAGAZINE – October 2012

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Asia Pacific Oct12_Gil WolinNov06 18/09/2012 12:01 Page 2

GLOBAL MARKETS - ASIA PACIFIC Ltd. (HEAI), which started operations in 2002 producing ERJ145 regional jets (which has since ceased). The first Legacy off the HEAI production line is expected by the end of 2013. To coincide with this announcement ICBC Financial Leasing Co. Ltd signed for ten Legacy 650s, including five firm orders and five options, to become the launch customer for the HEAI aircraft. ICBC Leasing is a wholly owned subsidiary of the Industrial and Commercial Bank of China, the world’s largest bank by market capitalization. With this deal Embraer’s Legacy 650 firm orders stand at 20 in China. In addition, the first Embraer Lineage 1000 corporate jet destined for China has been delivered to China’s Xinjiang Guanghui Industry Investment Group Co. Ltd. Since the first Greater China delivery of an Embraer executive jet in 2004 the company has booked firm orders for 28 executive jets in this market. Another western OEM in China is Eurocopter which is establishing a partnership framework for a helicopter completion and customization center in the Tianjin Free Trade Zone. The initial plan is for the completion and customization of the Ecureuil family of light helicopters for the Chinese market, the first of which should be delivered by the end of 2013. With nearly 130 helicopters in operation and a 40% market share in the sector, Eurocopter China has expanded its presence in the country, with offices in Beijing, Shanghai, Shenzhen, Chengdu, Wuhan, Harbin and Hong Kong. Dassault Falcon Aircraft Services - China was launched on the 3rd September offering a dedicated maintenance program in conjunction with Shanghai Hawker Pacific at Shanghai’s Hongqiao International Airport. Dassault Falcon’s Kathy Liu, Director, Asia Region Customer Service says, “Dassault will bring its in-depth Falcon know-how and experience, rapidly expanding the capabilities of Shanghai Hawker Pacific as dozens of new Falcons enter the Chinese market.” The program is staffed by a team of Dassault technicians with an average experience of ten years on Falcon business jets each, and specifically trained for Falcon 2000EX EASy, Falcon 900EX as well as Falcon 7X models. The CAAC granted a Part 145 Approved Maintenance Organization certificate to the Shanghai Hawker Pacific facility in March as well as a Part 145 approval for the Falcon 7X. Approvals for the Falcon 900LX and the Falcon 2000LX models are expected shortly. As an economic indicator, much interest will have been given as to whether there were any business aircraft order announcements at the up-coming Chinese

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International Business Aviation Show (CIBAS) which ran from the 4-7 September in Beijing. Western OEMs and Chinese operators both booked space and planned to exhibit aircraft and helicopters there.

HONG KONG Following Embraer’s authorization for Metrojet of Hong Kong to be its first Service Center in Greater China, Metrojet has welcomed its very first Embraer aircraft – a Legacy 650 - to its managed fleet. Metrojet is now fully equipped to provide maintenance services for Embraer’s customers of both the Lineage 1000 and Legacy 600/650 series. With this addition, Metrojet now manages close to 30 aircraft of various aircraft types.

successful could be used as a template for other developing markets,” said a company spokesperson. Meanwhile, Dassault Falcon has signed an agreement with Indian charter operator Taj Air to establish a Dassault Falcon Authorized Line Service Station at Chatrapati Shivaji International Airport in Mumbai. The facility, which is already operational, will provide scheduled and unscheduled maintenance and inspections for all Falcon 2000 models. Initially the facility will serve Indian registered Falcons, with EASA approval expected in early 2013. Taj Air is a subsidiary of the Tata Group. It offers scheduled and unscheduled maintenance and AOG assistance around the clock.

EMBRAER LEGACY 650 CATCHING ON IN CHINA AND HONG KONG

INDIA Air Partner, one of the world’s leading air charter companies, has formed a strategic partnership in India with InterGlobe’s The ESTD. Air Partner specializes in aircraft charter worldwide ranging from private jets, commercial airliners to air freighters. The strategic partnership is to launch a range of private aviation products to fit with InterGlobe’s portfolio of lifestyle products of luxury yachts and mini submarines. Air Partner says it expects private jet brokerage activities ‘to be most in demand’. “We believe that the structure is a low cost way of gaining experience in a new country, and, if www.AvBuyer.com

It has invested significantly in tooling and training to support the new initiative and will eventually have 30 technicians dedicated specifically to Falcon aircraft. A fleet of about 20 Falcon 2000 series aircraft is operated within India distributed between Delhi, Mumbai, Hyderabad, Chennai and Bangalore.

INDONESIA The ExecuJet Aviation Group and Angkasa Pura 1 have signed a memorandum of cooperation for the design, construction and management of as many as 13 General Aviation ❯ Terminals throughout eastern Indonesia. Aircraft Index see Page 4

Southern Cross October 17/09/2012 18:15 Page 1

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Asia Pacific Oct12_Gil WolinNov06 18/09/2012 12:02 Page 3

GLOBAL MARKETS - ASIA PACIFIC Tommy Soetomo, President Director and CEO of Angkasa Pura 1, says, “Bali International Airport, as the most prestigious airport of Angkasa Pura Airports, will be our first project to provide premium services to private aircraft users.” Angkasa Pura 1 is an Indonesia stateowned enterprise that manages airports and air traffic services in East Indonesia. Angkasa Pura Airports currently manages 13 airports including Bali International and Balikpapan Sepinggan. Meanwhile, JetCorp Technical Services, Inc. of St Louis, Missouri and Flying Colours Corp. have begun work on transforming a Bombardier CRJ200 regional jet into a 22 seat VIP ExecLiner variant, destined for a private Indonesian client. This is the first ExecLiner to be readied for Indonesia, and during the conversion process Flying Colours will work closely with the client and Bombardier to achieve Indonesian type certification for the aircraft. Flying Colours will supply an FAA STC that will subsequently be validated by the Indonesian regulatory body.

PHILIPPINES Metrojet of Hong Kong has opened its first overseas operation in the Philippines Metrojet Engineering Clark Ltd. (MEC) - at Diosdado Macapagal International Airport in the Clark Freeport Zone near Pampanga, 40 miles north of Manila. MEC is a new MRO facility designed to expand both the heavyand line-maintenance capabilities from Metrojet’s Hong Kong base. A joint venture between Metrojet and CAPP Industries Inc. of the Philippines, the MEC facility will offer a comprehensive range of aircraft services and support, including a dedicated document control area within the hangar, large bonded stores, a fully equipped avionics shop, as well as sheet metal and tire shops. There is also a plan to develop a cabin interior refurbishment capability. “The Clark facility not only marks the beginning of an international expansion for us, but also allows Metrojet to take advantage of the forecasted growth projections for Business Aviation in Asia. We will continue

Minister of Public Health and Commerce. Today, he is Chairman of Sino-Thai Engineering and Construction, and the developer of Rancho Charnvee – the first golf course in Thailand’s Khao Yai mountain region, which opened in 2010 with a landing strip.

AUSTRALIA Australia’s Civil Aviation Safety Authority’s latest figures show that the growth of its helicopter fleet is very strong and edging towards a growth rate of 10% per year. The total helicopter fleet has grown from 1,782 to 1,959 YTD or a rate of 10% per year, up 1% to a new record rate of annual growth. The vast majority of the fleet (1,244) are piston powered light helicopters. The total number of helicopters and fixed wing aircraft (as of May) in Australia stood at 14,741 units.

BELL HELICOPTER AND CESSNA OPEN THE DOORS OF THEIR NEW SINGAPORE FACILITY.

IN THAILAND, A LEADING POLITICAL AND BUSINESS PERSONALITY, ANUTIN CHARNVIRAKUL, TOOK DELIVERY OF A TBM 850 ELITE.

SINGAPORE JetCorp will also be carrying out an extensive maintenance package on the aircraft at its MRO facility. Maintenance work will include a landing gear overhaul, a 96month inspection, the conversion from a high-utilization maintenance program to a low maintenance program incorporating all outstanding Airworthiness Directives. This could be the first of many more CRJ conversions heading east according to the company which has met with ‘multiple’ potential private customers in Southeast Asia in recent months. “We are receiving a growing number of requests from the Indonesian area particularly,” explained Eric Gillespie, Flying Colours Corp Executive Vice President, Sales and Marketing.

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to develop and expand this facility to accommodate the rising demand in the South East Asia region,” said Bjorn Naf, CEO of Metrojet Ltd.

THAILAND DAHER-SOCATA has delivered a TBM 850 Elite to Anutin Charnvirakul – a leading figure in Thai business and politics. As a passionate and active private pilot, 46-yearold Charnvirakul owned several aircraft prior to his decision to acquire the TBM 850 turboprop. After taking delivery he trained at Tarbes, France to become rated on his new aircraft, and then flew it back to Thailand. Charnvirakul is a well-known personality in Thailand, having been a former Deputy www.AvBuyer.com

Bell Helicopter in partnership with Cessna Aircraft Company has opened its new regional service center at Seletar Aerospace Park, Singapore. The new facility has hangars for Bell Helicopter and Cessna products, a paint booth, warehouse, overhaul and maintenance shops and offices. Plans for the new facility include training, customization and completions, major refurbishment projects, labor and parts sales, as well as maintenance, repair and overhaul. Bell Helicopter and Cessna envision the center as a regional hub for response to customer needs in Asia Pacific.

❯ Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: editorial@avbuyer.com

Aircraft Index see Page 4

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Title Insurance_FinanceSept 18/09/2012 11:37 Page 1

TITLE INSURANCE DON’T RISK LOSING YOUR AIRPLANE FOR LACK OF TITLE INSURANCE.

Title Insurance Insuring aircraft against title pitfalls. by Lori Johnson hen most people make a real estate purchase, they automatically purchase title insurance on the property to ensure that there is someone who will support their rightful claim to the real estate title. When it comes to aircraft purchases, though, some people are unsure of the necessity of title insurance. Title experts in the aviation industry say close to 30 percent of pre-owned aircraft available today have some sort of cloud surrounding their titles. Owners have lost their aircraft, or had to pay the legal fees to defend their title claim. Purchasing aircraft title insurance is the only way for aircraft owners to know for certain that they are best protected from financial loss and legal problems regarding the title of their aircraft.

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WHAT DOES TITLE INSURANCE DO? Like real estate titles, aircraft titles can be affected by record errors, unresolved liens, or even fraudulent activity. Unlike real estate, though, aircraft are mobile assets. This mobility brings along another set of potential issues. If an aircraft’s title is rendered unenforceable, the aircraft owner faces the potential of losing the aircraft or being sued for previously existing liens or unpaid taxes. Tracey L. Cheek, Vice President of Aircraft Title Insurance Agency, Inc., outlines “There is a very common belief in the industry that a ‘clear title’ at the Federal Aviation Administration (FAA) means that the buyer owns the aircraft, the lender has a first-priority lien against it and that no third party can or will claim any further interest www.AvBuyer.com

in the aircraft. This is often a true statement, but not always. “Legal ownership and lien enforceability are determined by applicable state law. It is possible for a third party who is not listed in the FAA records and who has no interest registered at the International Registry to show up and prevail in asserting a claim against an aircraft.” If a claim is asserted, Cheek warns, whether it is valid or not, the owner or lender is obligated to pay the legal fees to defend his or her title. Stephan Asper, Senior Vice President of Marketing for AIC Title Service, LLC, says that aircraft title insurance is designed to indemnify aircraft owners against many losses that are not, and cannot be found in a search of the FAA records. “The insurance protects, as applicable, the buyer’s and/or ❯ Aircraft Index see Page 4

AIC August 20/08/2012 17:15 Page 1

Title Insurance_FinanceSept 18/09/2012 11:39 Page 2

TITLE INSURANCE the lender’s financial interest in the airplane by either defending the title or by working to defend the insurance position in the asset, should it be challenged.” If a claim is made that is covered by the policy, the title insurance company will hire an attorney and pay the legal fees necessary to defend the title. If there is a complete loss of title, the company will pay the lesser of the value of the aircraft, the amount of the loan or the amount of the policy at the time of the loss. Aircraft title insurance is similar to real estate title insurance, as it is generally designed to cover actual losses arising from unknown sources. However, an aircraft title insurance policy is a unique instrument that should be designed and written specifically for those who wish to have their ownership protected in a mobile asset.

...an aircraft title insurance policy is a unique instrument that should be designed and written specifically for those who wish to have their ownership protected in a mobile asset.

WHAT KINDS OF TITLE ISSUES CAN DEVELOP? According to Cheek and Asper, problems commonly associated with aircraft titles include some of the following... FAA Title Records: Although the FAA requires that all aircraft be registered and recorded through the FAA, their records do not have final legal authority in determining rightful ownership. If there are any reasonable disputes made regarding rightful ownership, only state courts have the final word. Fraud, Undue Influence, or Duress: Not everyone is honest, and some aircraft paper paths are difficult to trace. Sellers sometimes forge deregistration notices or even sell the same aircraft more than once. This scenario occurred in the much-publicized case of Philko v. Shacket; the selling company sold an aircraft to two different buyers. The first buyer (Shacket) bought, and took possession of the aircraft but the original title documents were never filed or recorded at the FAA. The buyer was given a copy of the bill of sale and was told that the seller would take care of the paperwork. The seller then proceeded to sell the aircraft to the second buyer (Philko), who received their title documents and filed them correctly with the FAA, leaving Shacket in possession of the aircraft while Philko held the title with the FAA. The courts ruled that Shacket owned the aircraft because the applicable state law gave title under the applicable facts to the party in possession. Internal Revenue Service Tax Liens: IRS liens cannot be filed with the FAA and are good for 10 years and renewable for another 10. They could exist against an aircraft and a search of the FAA records would never find them. Even if you perform tax lien searches against the current owner, liens

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could exist against prior owners that could still attach to the aircraft. State and Local Tax Liens: Some state tax liens are filed at the FAA, and some are not. Regardless of filing, validity is ultimately determined by state law. Personal Property Tax Liens: Many title claims are a result of personal property tax liens that the seller failed to pay, so the taxing authority filed a suit against the aircraft. State law regarding these liens varies, and none of the liens has been filed with the FAA. Estate Issues: A search of the records www.AvBuyer.com

may or may not reveal that an aircraft was transferred out of an estate. There could be parties to the estate that believe they still have an interest in the aircraft, or taxes due that were left unpaid. Mechanic’s Liens: Mechanic’s liens exist where a mechanic claimed an interest in an aircraft based on a lien that was wiped out in a repossession. These claims can sometimes be made years after the work was performed. Lack of Capacity or Authority: Courts also occasionally determine that a prior Aircraft Index see Page 4

Title Insurance_FinanceSept 18/09/2012 11:40 Page 3

TITLE INSURANCE grantor in a claim of title lacked capacity to transfer the title. In one case, this was determined three title transfers later - even though the owner who was notified of the title claim had been in possession of the aircraft for two years before the claim was made. Pending Litigation: Because notice of litigation cannot be filed at the FAA, an aircraft could be involved in a lawsuit and no one would know it when they conduct a record search. State court litigation can impact ownership of subsequent owners.

WHAT TRANSACTIONS HAVE MORE POTENTIAL TITLE TROUBLES? As with real estate transactions, there are some circumstances in the chain of title that are more likely to see title issues than others. Cross-border transactions, repossessions, estates and bankruptcies all raise more red flags with aircraft titles than other transactions. “There is a common misconception that a certificate of de-registration means that there are no liens outstanding against an aircraft and that no lien claimant can follow that aircraft across borders to make a claim against it. That simply is not true,” Cheek

says. “There have been instances of forged certificates of deregistration so aircraft can be unlawfully sold and removed from the country… Furthermore, many countries have operator-based registries that make it difficult if not impossible to determine ownership of an aircraft.” If an aircraft has been sold out of a repossession, an estate or a bankruptcy, there is also often a higher risk of unknown or unidentified parties having an interest in the aircraft. Title insurance can protect against actual losses arising from these transactions when they were not done according to applicable local law.

HOW EXPENSIVE IS TITLE INSURANCE? Title insurance is not expensive. “It is a onetime expenditure that is typically less than 1% of the aircraft’s purchase amount and often less than half of the first year’s hull liability policy,” Asper outlines. “Even if you fight against a competing claim to your title and win, you would still have to pay expensive attorney’s fees and spend countless hours protecting your aircraft [without it].” Title disputes are not all that uncommon. As the aircraft on the market get older, the

more potential they have for title issues. There are dozens of title cases that resulted in some form of loss for either an owner or a lender. It would have been much simpler and less expensive for them to have had a title insurance policy to fall back on. Simply put, if you are going to invest in an asset like a business aircraft, you should be proactive and do what you can to protect your title to that asset. It just makes good business sense. And it provides you with peace of mind. Lori Johnson has nearly 20 years of experience in Business Aviation and is currently the Marketing Communications and Programs Manager with Duncan Aviation, the largest family-owned MRO provider in the world. She also works closely with the National Aircraft Resale Association, an organization of turbine aircraft brokers, dealers and support service providers.

❯ Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: editorial@avbuyer.com

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

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UsedAircraftSales Oct12_FinanceSept 18/09/2012 10:25 Page 1

TO BUY OR LEASE

To Buy Or Lease A Private Aircraft ? by Greg Cirillo and Gary I. Horowitz o answer the question in the headline, “It depends”. That is an entirely unsatisfying answer, but one that unfortunately applies to the decision of whether to buy or lease a private aircraft. For the most part, the legal/tax/practical factors that go into the ‘own vs. lease’ decision remain the same - however, periodically the landscape changes and the aircraft owner/purchaser needs to consider the “other” option. As discussed below, the landscape has shifted in the areas of public perception and tax audit exposure.

AIRCRAFT OWNERSHIP Despite the epigram “if it flies or floats, rent it,” aircraft ownership remains very popular. By owning your aircraft, you control it. There is no answering to anyone regarding its use and there is an intangible prestige-factor that does not come when you say “That’s my leased aircraft.” Financially, the equity in an aircraft belongs to the owner, who will also benefit from any appreciation in the aircraft’s value (which has happened on rare occasions in Advertising Enquiries see Page 8

limited segments of the market). An aircraft owner has the sole authority to decide whether to charter or lease out the aircraft, and all revenue generated from such activity benefits only the owner. Aircraft purchasers can buy older, less expensive aircraft that are unlikely to be available for leasing. From a tax perspective, the owner of a business aircraft is entitled to tax deductions on all aircraft depreciation and expenses relating to the business use of the aircraft. On the flip side, purchasing an aircraft can require large capital outlays, and cost more than leasing. An aircraft generally depreciates in value over time, so the future sale of the aircraft by the owner could be an economic loss. Traditionally, aircraft ownership (versus leasing) is preferred for privately-held companies and high-net-worth individuals (having no qualms about showing an aircraft on financial statements), while leasing is employed by large companies to gain the benefits of business aircraft without carrying a multi-million dollar asset on the financial statements. Apart from the pure accounting distinction (impact on financial ratios) public www.AvBuyer.com

companies or those subject to public scrutiny are under extraordinary pressure to avoid the appearance of extravagance; and unfortunately - and without justification - business jets have become the poster child for corporate extravagance. Another part of the landscape that has changed (and affects the own-or-lease decision) is the increasing tax compliance burden and the increasing risk of a tax audit. Aggressive IRS and state tax auditors can make private aircraft ownership a tax headache. New IRS regulations on the personal, entertainment use of business aircraft subject owners to significant tax depreciation deduction disallowances that aircraft lessees do not directly suffer. Aircraft owners may need to pay state sales tax based upon the purchase price of the aircraft, whereas aircraft lessees may only pay state sales tax on lease payments. Aircraft owners can overcome these tax challenges to put them in as good, or better, a tax position as an aircraft lessee, but that requires planning. Business jet owners often suffer even when they are in full, good faith compliance with state and federal tax laws ❯ WORLD AIRCRAFT SALES MAGAZINE – October 2012

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TO BUY OR LEASE because the audit process itself can be arbitrary. In a sense, you are guilty until proven innocent, and you may not get to the “right” government official until you have moved from audit to appeal. Given the foregoing, high-net-worth individuals and closely held companies are predisposed to purchase, rather than lease, a private aircraft. Essentially, they want the status of “owning” their aircraft - and these buyers do not share the same concerns as large companies, which prefer to lease, as explained below. Also, companies and individuals buying aircraft that already own an aircraft do not want to pay federal income taxes on the tax depreciation recapture that happens when a depreciated aircraft is sold. To avoid this, a taxpayer will acquire a new aircraft, and dispose of the old one in a Section 1031 Exchange, which allows the taxpayer to defer the recognition of income on the disposition of the old aircraft. However, to do this the taxpayer must purchase - not lease - the new aircraft.

FINANCING AIRCRAFT OWNERSHIP If any aircraft will be purchased, and not leased, it needs to be paid for. Cash is king,

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but many aircraft owners prefer to finance aircraft purchases to avoid tying up money in the aircraft and to take advantage of tax deductions on business aircraft loan interest payments. There are financing companies that specialize in financing aircraft acquisitions, and there are banks that will finance aircraft on an occasional basis at the request of a highnet-worth client. Experienced aircraft financing companies will generally beat the local bank’s loan terms, unless the bank relies on additional collateral (accounts and personal assets). Most aircraft acquisition loans are secured by the aircraft itself as collateral. Mortgages on aircraft are specialized to deal with the details of aircraft maintenance, aircraft registration and aviation insurance. By Federal law, the mortgage on a U.S. registered aircraft will be filed with the FAA Civil Aircraft Registry in Oklahoma City, Oklahoma. Aircraft registered in other nations will benefit from similar national lien registries, and many aircraft mortgages must also be registered on the International Registry of Mobile Assets. Any “non-aircraft” assets associated with the aircraft (such as records, warranties and loose equipment) are taken as security

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for the loan by lenders with typical lien filings in local jurisdictions. Aircraft buyers must also understand that lenders are concerned about the risks associated with aircraft as collateral. Aircraft move fast and frequently, lose value quickly if not properly maintained (with proper documentation), can be difficult to sell if repossessed, and aircraft values are volatile. Therefore, lenders will often seek credit enhancements through lower loan-to-value ratios, personal or corporate guaranties, and letters of credit, but these are negotiable matters.

AIRCRAFT OPERATING LEASES The alternative to aircraft ownership is leasing. There are two primary types of leases; capital leases and operating leases. An operating lease, which is what we will focus on, is a contract that allows a lessee to use an aircraft, for a short term, such as five to ten years, at the end of which the lessee returns possession of the aircraft back over to the lessor (owner). By comparison, capital leases effectively transfer aircraft ownership to the lessee, as the capital lease contains a bargain purchase option, the lease term is 75% or more of the aircraft’s economic life, or payments under the lease are at least 90% of the

Aircraft Index see Page 4

UsedAircraftSales Oct12_FinanceSept 18/09/2012 10:31 Page 3

TO BUY OR LEASE aircraft’s value. There are numerous benefits to an operating lease, particularly in the areas of risk management and cost containment. The lessee only pays rent for the aircraft, instead of paying the aircraft’s purchase price. Rent payments are often priced down to include a pass-through of the tax depreciation benefits that the owner/lessor is entitled to take on the aircraft. If the residual value of the aircraft at the end of the lease term is lower, the lessee is not affected, and this becomes the owner/lessor’s problem. Because of the issue of residual values, aircraft available for operating leases are usually zero to ten years old. Lessors do not want to take back a twenty year old aircraft from a lessee as older aircraft are more expensive to maintain, repair, operate and dispose of. For accounting purposes, operating leases are treated as a rental expense known as “off balance sheet financing.” As such, the lessee’s balance sheet does not record the assets or liabilities for the aircraft leasing activity, which can improve the lessee’s financial ratios. The aircraft lessee will not generally have to pay state sales tax on the value of the aircraft, but at most only pay state sales tax on lease payments.

looking to acquire an aircraft. Ultimately, the purchaser or lessor of an aircraft will need to decide how the issues balance out to determine the right path forward.

Who likes operating leases? Big companies that are first-time aircraft users looking for new aircraft (zero to ten years). Compared to buying, these companies like the lower cost, better cash flow, off-the-books treatment, and avoiding the risk of aircraft residual value going down and having an underwater loan on their books. Of course, with leasing there are unavoidable obligations. The lessor of an aircraft will require that the lessee meet strict standards on maintenance, insurance and record keeping. In order to protect the lessor’s asset, the lessee may be asked to maintain a reserve of funds (often held by the lessor) to fund ongoing maintenance costs. The purpose of these reserves is to ensure that a neglected or abandoned aircraft does not become a money pit with overdue maintenance and repairs. For similar reasons, a lessor will strongly prefer that the lessee place engines and other components under a pre-paid or pay-as-yougo maintenance program.

❯ Greg Cirillo is a Partner and Gary I. Horowitz is Special Counsel with the Washington, D.C. law firm Wiley Rein LLP, representing private and commercial operators, owners, lessors and financiers in structuring the sale, acquisition, ownership and operation of aircraft, and providing federal tax and state sales and use tax planning services. Greg can be reached at Tel: +1 703-905-2808, email gcirillo@wileyrein.com. Gary can be reached at Tel: +1 703-905-2845, email: ghorowitz@wileyrein.com.

THE END GAME The decision of whether to buy or lease an aircraft will depend on all of the considerations discussed here plus the specific facts that are unique to each company or person

GREG CIRILLO

GARY HOROWITZ

Attorneys for business aviation.

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

Tax structuring and compliance.

Federal regulatory compliance.

Dispute resolution.

Wiley Rein LLP

Washington, DC

Northern Virginia

www.wileyrein.com/aviation Advertising Enquiries see Page 8

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

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Pre-OwnedOct12_Pre-Owned Sales Jan06 18/09/2012 12:06 Page 1

PRE-OWNED A/C SALES TRENDS

Pre-Owned Aircraft Sales Trends

What’s going on with the market, and what can we do about it? by Fletcher Aldredge ive years after the official beginning of the Great Recession, and more than three years after its mathematical ending, prices for many aircraft continue to drift down like a Martian rover. Why is this so-called recovery different than previous recoveries? (By the way, we’ve stopped calling it a recovery. It’s more like an adjustment.) In the paragraphs and tables that follow, we will examine the marketplace in an attempt to answer the recurring aviation questions of the day: ‘What is going on?’, and ‘What can we do about it?’ We want to make it very clear that in most cases there are fewer airplanes for sale than in the dark days of 2009. That is a good thing! Nevertheless, in most cases availability is much higher than it was when we called the market ‘Hot’ back in the summer of 2007.

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

PISTON SINGLES & TWINS While not suffering the volatility of their turbine brethren, much of the piston segment has been lackluster. Prices have remained flat quarter after quarter. Fortunately, most dealers report that activity is good if the airplane is priced right. Unfortunately, there are still too many owners who insist on adding for every prehistoric radio and sunshade in the airplane, thus pricing their airplane out of the market. New touchscreen GPSs and glass panels add lots of value, but even the venerable GNS430 is becoming old school today. [SIDE NOTE: For the first time in memory, we are seeing hangar space available in Arizona (and other parts of the country). I was at the bottom of the waiting list at my local airport and had previously been told ‘Why bother? No one ever gives up a hangar.’ Several months ago four www.AvBuyer.com

became available. Last week the city called and said two more were empty. I’ve always thought the polar ice caps had a better chance of melting than for me to have my pick of hangars.]

TURBOPROPS This is another relatively stable market as the average turboprop continues to battle the recession. No upward pressure is apparent in prices, but activity remains, ‘Not too bad if priced right’. In our first table (opposite) we can see availability now is considerably less than it was in 2009. However, the number for sale is still well above the strong market of 2007, even with a significant price decrease since then. In order to get inventory under control, the average King Air B200 dropped 32% in value from 2007 to the present, while King Air 350s were discounted 28%. Aircraft Index see Page 4

Pre-OwnedOct12_Pre-Owned Sales Jan06 18/09/2012 16:13 Page 2

PRE-OWNED A/C SALES TRENDS

TURBOPROPS King Air B200 King Air 350 Conquest II Cheyenne II *Availability data per JETNET

NUMBER FOR SALE* Aug 2007 Jun 2009 146 55 25 51 14 35 39 53

Aug 2012 82 33 27 43

JETS NUMBER FOR SALE* Aug 2007 Jun 2009 BeechJet 400A 39 54 Premier 24 39 Challenger 300 5 35 Challenger 601-3A 14 38 Challenger 604 18 48 Global Express 7 25 Cessna CJ1 10 43 Cessna CJ2 12 39 Citation II 89 147 Citation VII 14 33 Ciation XLS Citation XLS 5 30 Sovereign 5 36 Falcon 2000 6 29 Falcon 900 9 29 Gulfstream GIVSP 4 37 Gulfstream GV 6 12 Gulfstream G550 4 27 Hawker 800XP 32 56 Learjet 45XR 8 12 Learjet 60 29 75 *Availability data per JETNET

JETS

WHAT IS GOING ON?

It may no longer be proper to say there is a glut of jets for sale, but prices do continue to erode for many airplanes. That is a more politically-correct way of saying the activity is almost entirely price-driven. While we are not awash in an ocean of airplanes circa 2009, for some we still see double, triple or quadruple the inventory that was available in 2007. And, this is after widespread discounting. For example, since 2007, Challenger 300 prices are down 47%, yet inventory is still five times what it was at that tme. CJ2 prices are 46% less with availability at three times 2007 levels, when the market was strong. The Citation XLS fell 50% in value from 2007 to now, but four times more are for sale. And finally, GIVSPs have lost an enormous 64% in value, yet availability remains at more than quadruple that of the good market of 2007.

Most airplanes, new-and-used, big-andsmall have been an insanely good deal for at least a couple of years now. Are there just too many for sale? Or, are there too few real buyers? Yes to both questions. Inventory has dropped since 2009 – no doubt about it. And fortunately, there is activity. But, at the present time, the current supply of qualified buyers is just not enough to clean out the surplus and stop prices on many airplanes from falling. We have always heard the phrase, “It’s the economy, stupid,” in reference to the U.S. Economy. In early 2010, we made a comment in this column about “European countries keeping each other bailed out”. Little did we know just how important that would prove to be, and that it would still be such a drag on the Global Economy in 2012. We are confident the European debt crisis will be worked

Advertising Enquiries see Page 8

www.AvBuyer.com

Aug 2012 54 31 25 27 60 23 27 36 139 27 20 23 24 28 18 17 10 49 19 52

out. However, another problem lingers, and that is the aftershock felt in aviation (and probably everywhere) from the switch to responsible lending. Do we agree with the new standards such as bigger down payments and making sure borrowers are actually qualified? Absolutely, yes we do! It is the best thing for the long haul. Conversely, in the near-term, it will make digging out of our economic hole more challenging. So what can we do? We are doing it, actually. The aviation industry is doing a better job than ever of keeping up with market conditions, adjusting prices and giving airplanes new homes. No matter what the world looks like in November, this year or next year, airplanes – and helicopters – will be wanted and needed. Don’t forget to vote!

❯ More information from www.vrefonline.com WORLD AIRCRAFT SALES MAGAZINE – October 2012

141

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Corporate Concepts October 20/09/2012 10:24 Page 1

Immediately Available – Large Cabin Aircraft Boeing BBJ ■ ■ ■ ■ ■ ■

Like new - warranties and training remaining Only 60 Hours total time - Aruba Registered - Ready to go High completion specification – 18 passenger seats 2 sleeping areas, shower, office, dining area, crew rest area VAT paid for European free circulation See video in www.flycci.com and private showing

Boeing Super 727-200 ■ Larger cabin than a BBJ2 ■ VVIP interior – stateroom, shower, 32 seats (19 for takeoff and landing) ■ Skytheater entertainment system ■ Meets EU2002 noise criteria ■ Super 727 Valsan modifications w/ winglets ■ Fresh inspections and SFAR 88 at delivery ■ See www.flycci.com for full photos

MD-87 VVIP ■ ■ ■ ■ ■

New paint and interior VVIP interior includes stateroom and 19 VIP seats Recent “C” inspection Motivated Seller See video at www.flycci.com

Gulfstream G-IV SP ■ ■ ■ ■

Sixteen passenger interior - forward and aft lavatories Recent 24 month inspection w/ ASC469 compliance On Condition engines and MSG-3 inspection program LED cabin lighting – new Honeywell dual zone entertainment ■ FAA Part 135 – Priced to sale immediately

See www.flycci.com for information on CCI’s comprehensive Acquisition Services, Appraisals, Operation Audits, Asset Management, and Advisory/Consulting Services

Dennis Blackburn

Fernando Garcia

Chris Zarnik

Geoff Kaufman

Larry Wright

+1 919 264 6212

+1 203 733 4390

+1 704 906 3755

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+1 832 647 7581

+52 55 54077686

Austin • Ft. Lauderdale • Charlotte • Winnipeg • New York • Mexico City • Middle East-Northern Africa

Corporate Concepts International, Inc.

Member NBAA, NAFA, ISTAT, AOPA

Corporate Concepts October 20/09/2012 10:28 Page 2

New Opportunities – Immediately Available 2009 Citation CJ3 ■ ■ ■ ■ ■

Exceptional lease opportunity – Sale or Lease ProParts, TAP Elite and CESCOM Eight passenger interior with aft lavatory Only one owner – Less than 800 hours Electronic charts, EGPWS, TCAS II, FDR, Iridium phone

Challenger 604 ■ ■ ■ ■ ■

Ten passenger configuration w/ extended lavatory Enrolled in Smart Parts Plus JAR Ops 1 (EASA) compliant Increased takeoff weight Motivated Seller

Gulfstream G-IV ■ ■ ■ ■

Lease – Lease/Purchase – Sale Fresh 72 month inspection and engine overhauls Corporate Care - New paint New High speed internet, Cabin entertainment system, large monitors ■ 13 passengers w/ fwd and aft lavatories ■ Aft sleeping area with bed

2008 Legacy 600 ■ ■ ■ ■ ■ ■ ■

New generation cabin with increased headroom High speed internet with satellite phone Enrolled in Executive Care and Corporate Care programs Forward and Aft lavatories Burns half the fuel of a Gulfstream G-IV FAA Part 135 – Recent 48 month inspection Motivated owner – Immediately Available

See www.flycci.com for information on CCI’s comprehensive Acquisition Services, Appraisals, Operation Audits, Asset Management, and Advisory/Consulting Services

Dennis Blackburn

Fernando Garcia

Chris Zarnik

Geoff Kaufman

Larry Wright

+1 919 264 6212

+1 203 733 4390

+1 704 906 3755

Latin & S. America

+1 832 647 7581

+52 55 54077686

Austin • Ft. Lauderdale • Charlotte • Winnipeg • New York • Mexico City • Middle East-Northern Africa

Corporate Concepts International, Inc.

Member NBAA, NAFA, ISTAT, AOPA

Corporate Concepts October 20/09/2012 10:30 Page 3

New Opportunities – Immediately Available Challenger 600 ■ ■ ■ ■ ■

Highly desired 14 passenger configuration New generation “S” galley Interior modernized in 2007 – New generation “S” galley FAA Part 135 – CMSP Delivered with fresh heavy inspection

1998 Citation Ultra ■ ■ ■ ■ ■ ■

Cessna ProParts Advantage Freon Air Conditioning system FAA Part 135 Single Point Refueling Right engine overhauled in February 2012 New brakes in Summer 2012

2007 Citation Sovereign ■ ■ ■ ■ ■

JAR Ops 1 (EASA) compliant Less than 750 hours ProParts, Power Advantage, Aux Advantage TOLD database, Electronic Charts, Graphical Weather Iridium phone

Sikorsky S-76B ■ ■ ■ ■ ■ ■ ■

Quick change 6 and 12 passenger interiors Freon Air Conditioning and bleed air heat “Quick Board” steps – Cabin intercom system Rotatable landing light – Search light Primed, ready to paint exterior Emergency flotation system Motivated Owner

See www.flycci.com for information on CCI’s comprehensive Acquisition Services, Appraisals, Operation Audits, Asset Management, and Advisory/Consulting Services

Dennis Blackburn

Fernando Garcia

Chris Zarnik

Geoff Kaufman

Larry Wright

+1 919 264 6212

+1 203 733 4390

+1 704 906 3755

Latin & S. America

+1 832 647 7581

+52 55 54077686

Austin • Ft. Lauderdale • Charlotte • Winnipeg • New York • Mexico City • Middle East-Northern Africa

Corporate Concepts International, Inc.

Member NBAA, NAFA, ISTAT, AOPA

Northern Air N412ET September 18/09/2012 14:41 Page 1

S H O W C A S E

2007 Learjet 40XR • Extended Range Fuel Serial Number: Registration: Airframe TT: Landings:

45-2083 N412ET 2255 1931

Airframe Factory Warranty Through Sept. 2012 Smart Parts Engines Both Engines 2255 hours TT \1931 Cycles Enrolled on MSP Avionics • Honeywell Primus 1000 Integrated Flight • Director & Autopilot System • 4-tube 8x7” EFIS, • Dual Universal UNS1 L FMS • Dual Comm radios with 8.33 Capabilities • Honeywell HF 1050 Comm • Dual Nav and RMI • Dual Mode S Transponders • Dual DME • Single ADF • Honeywell TCAS II • Honeywell Mark VII EGPWS • Honeywell Primus Radar 660 • ARTEX 406 Emergency Locator Transmitter • Cockpit Voice Recorder

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

Northern Air, Inc. Mark Serbenski Gerald R. Ford International Airport 5500 - 44th Street, SE • Grand Rapids, MI 49512

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

Tel: 800 262 4953 Tel: +1 616.336 4737 Cell: +1 616 648 2656 Fax: +1 616 988 4164 mserbenski@northernair.net www.northernair.net Aircraft Index see Page 4

Northern Air N959RP June 18/09/2012 14:43 Page 1

S H O W C A S E

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

40-2100 N959RP 1895 1538

• Extended Range Fuel Airframe Factory Warranty Smart Parts Engines Left Engine 1907 / Right Engine 1899 MSP Gold Avionics • Honeywell Primus 1000 Integrated Flight • Director & Autopilot System • 4-tube 8x7” EFIS • Dual Universal UNS1 L FMS • Dual Comm radios with 8.33 Capabilities • Honeywell HF 1050 Comm • Dual Nav and RMI • Dual Mode S Transponders • Dual DME • Single ADF • Honeywell TCAS II • Honeywell Mark VII EGPWS • Honeywell Primus Radar 660 • ARTEX 406 Emergency Locator Transmitter

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

Northern Air, Inc. Mark Serbenski Gerald R. Ford International Airport 5500 - 44th Street, SE • Grand Rapids, MI 49512 Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: 800 262 4953 Tel: +1 616.336 4737 Cell: +1 616 648 2656 Fax: +1 616 988 4164 mserbenski@northernair.net www.northernair.net WORLD AIRCRAFT SALES MAGAZINE – October 2012

151

2000 Global Express Oct 19/09/2012 14:24 Page 1

nd e e a th m at n 0 Co us A o & 28 e se BA 270 N ic at

S H O W C A S E

Immediately available, make offer! 2000 Bombardier Global Express Serial Number: Registration: Airframe TT: Landings:

9067 N67RX 7,592.4 2,264

• Immediately available • New paint • New soft goods • 8C-Check completed in June 2012 • Landing gear overhauled in June 2012 • Only one owner since new • Complete and clean maintenance records • Engines on Corporate Care • APU on MSP • Airframe on Smart Parts • Contact us for complete details and specifications

Engines and APU Left Right 12235 12246 7,592.4 hrs 7,592.4 hrs 2,264 cycles 2,264 cycles Current On Condition Current On Condition APU RE-220 (GX) on MSP Serial Number P-166 Total Time 3,006 hours Total Cycles 4,253 cycles Weights Last weighed June 2012 Empty 49,970 lbs BOW 51,559 lbs Max Zero Fuel 56,000 lbs Max Landing 78,600 lbs Serial Number Total Time Total Cycles Inspection Status

Max Take-Off 96,000 lbs Max Gross 96,250 lbs Exterior Painted June 2012 Paint Overall white Interior Refurbished June 2012 Cabin Layout 14 Seats • Baker cabin management systems • Electric window shades Forward Cabin • 4 club seats Mid Cabin • 2 club seats plus 4-seat dining group Aft Cabin • 2-seat divan plus 2 club seats Toilets • Fwd and aft Magair toilets Entertainment • 2 x DVD/12 CD Player & VCR • Fwd and aft 18” monitors • 6 x 6.5” seat monitors • Crew rest has built-in PMAT plus 10” monitor • Fax Galley • TIA Oven • Freezer • Chiller • Microwave Avionics EFIS • 6 x DU-870 FMS • 3 x Honeywell Flight Director • Honeywell IC800 Autopilot • Honeywell IC800 GPS • 2 x GPS-550 NAV • 2 x RNZ-850 ADF • 2 x RNZ-850 DME • 2 x RNZ-850 VHF • 2 x RCZ-833K HF • 2 x HF-9000/Selcal Selcal • 1 x Coltech CSD-714 Transponder • 2 x RCZ-833 Mode S Enhanced Japat AG Daniel Stieger

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

E-mail: daniel.stieger@novartis.com

Aircraft Index see Page 4

2001 Global Express Oct 18/09/2012 14:59 Page 1

nd e e a th m at n 0 Co us A o & 28 e se BA 270 N ic at

2001 Bombardier Global Express Serial Number: Registration: Airframe TT: Landings:

9086 M-MNAA 6370 2229

As owner, Japat AG offers for sale its 2001 Bombardier Global Express, Serial Number 9086. This aircraft features: • Honeywell Avionics • 8C-Check and Landing Gear Overhaul in October 2012 • Buyers Choice of new Interior and Paint Colors

Airframe Empty Weight: 49,545 Lbs, Max Gross Weight: 96,000 Lbs, Max. Landing: 78,600 Lbs. Engines BR710A2-20 on Corporate Care. Left: S/N-12287, TT: 6370.19 Hrs, TC: 2,229 Cycles. Right: S/N-12286, TT: 6370.19 Hrs, TC: 2,229. All Inspections Current. APU: RE-220(GX). On MSP Avionics DU-870 EFIS, Honeywell FMS, Honeywell IC800 Flight Director & Autopilot, GPS-550 GPS, RNZ-850 NAV, ADF, & DME, RCZ-833K VHF, HF-9000/Selcal HF, RCZ-833 Mode S Enhanced Transponder, Primus-880 Radad, TCAS, FDR, CVR, ELT. Interior Original, 14 seat interior. Baker Cabin Management System. Electric Window

Shades. 4 Club Seats in Forward Cabin, 2 Club Seats plus 4-Seat Dining Group in Mid Cabin, 2-Seat Divan plus 2 Club Seats in Aft Cabin. Fwd and Aft Magair Toilets. DVD, CD, & VCR. 6-6.5” Seat Monitors. Crew Rest has built-in PMAT plus 10” Monitor. Fax. TIA Oven. Freezer. Chiller. Microwave. Aircraft will be delivered with fresh soft goods in October 2012. Color can still be decided by buyer. Exterior July 2002 Paint. Overall White with Blue and Gold Stripes. Aircraft will be delivered with new, October 2012 Paint. Color can still be decided by buyer. Aircraft Located at Basel-Airport, Switzerland Price: Please Inquire

Japat AG Daniel Stieger

Advertising Enquiries see Page 8

www.AvBuyer.com

E-mail: daniel.stieger@novartis.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

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S H O W C A S E

Mente Citation VII & Falcon 2000 Oct 18/09/2012 15:04 Page 1

S H O W C A S E

1995 Citation VII Serial Number: Registration: Airframe TT: Landings:

650-7059 N14DG 4,456.4 3,504

• LOW TOTAL TIME, 4,456.4 HOURS • MSP • XM RADIO • HERMISTATIC DOOR SEAL TO REDUCE CABIN NOISE LEVEL • 2 LARGE MONITORS & 5 INDIVIDUAL SEAT MONITORS Engines Garrett TFE - 731-4R-2S MSP Gold Left: S/N: P102227. 4,220.5 Hours. 3,337 Cycles Right: S/N: P102228. 4,267 Hours. 3,329 Cycles

Kyle Foddrill Tel: +1 (817) 372-4527 E-mail: kfoddrill@mentegroup.com APU Honeywell S/N: 36-150. 2,459 Hours On MSP Avionics • Honeywell SPZ-8000 Avionics Suite • Honeywell SPZ-8000 IFCS • Honeywell Primus 670 • Dual Collins VHF 22A • Dual Collins DME 42 • Dual Collins ADF 452 • Collins TDR -94 • Collins ALT-55 • Honeywell TCAS-II • Fairchild GA-100 Cockpit Voice Rec. • Dual Honeywell NZ-2000 • King KTR-953 with SeCal • Honeywell Mark VIII

AirCell 3100T with dual handsets. Airshow 400. RVSM Compliant. VHS and CD player. Hermistatic Door Seal Interior Six passenger configuration features a forward four place club with two fold out executive tables and two forward facing aft seats. The aircraft features a belted aft lavatory. Soft Goods Refurbished November 2008; New Carpet November 2008 Exterior New Paint November 2008, by Jim Miller Additional Features 5 Individual monitors. XM Radio IPod docking station. Camera 14" Monitor in the forward right cabin 10" Monitor in the forward left cabin Hermistatic Door Seal to reduce cabin noise level

Motivated Seller

Two Corporate Owners Since New

2001 Falcon 2000

Mark Payne Tel: +1 972-897-3246 E-mail: mark@mentegroup.com

Serial Number: Registration: Airframe TT: Landings:

Interior Eight passenger interior consisting of a four place aft cabin package including left hand dining/coffee table and two sets of dual passenger seats, two individual 18” wide passenger seats. Jumpseat (ERDA). Crew seat sheepskin inserts. Aircraft flight/performance box. Aircraft logbook holder. Forward right hand galley annex (15”). Right hand galley(46”) with pop-out work surface, high temp oven, Tia coffee maker, and Tia microwave oven. Forward left hand entryway closet/entertainment cabinet with 15” LCD monitor on cabin side. Headliner lighting system. Galley pocket/sliding door Exterior Last Painted: January 2011. By: Duncan Aviation White (Jetglo snow white) with blue (Jetglo light blue) and black (Jetglo gloss black) stripes. Dry bay mod complied with prior to repaint

131 N707MM 5,187 3,010

• Exterior Paint in January 2011 • Engine Program: 100% JSSI • One Owner • Fortune 500 Owned & Operated Airframe Camp Maintenance & Tracking Program Engines CFE 738-1-1B 100% JSSI Left: S/N P105379, 5,068 Hours, 3,010 Cycles Right: S/N P105387, 5,066 Hours, 3,010 Cycles APU S/N P-243. 2,679 Hours. APU is not on a Program

Avionics • Four Tube Collins 4000 EFIS • Dual Collins VHF-422C Comm • Dual Collins VIR-432 NAV • Dual Collins ADF-462 ADF • Dual Collins DME-442 DME • Dual Collins TDR-94D Mode S TDR • One Collins TWR-850/2 Cntrls Radar • Dual Collins FMS-6000/CDU-6100 FMS • Dual Collins 4000 GPS • Dual Honeywell Laseref IV • Dual Collins 9000 w/ Selcal HF • Dual Collins ALT-55B Rad Alt • Meggitt LCD Secondary Flight Display • Collins 4000 w/ Chng 7 TCAS II • Collins APS-4000 Autopilot • Socata 97 Tri Band Elt

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

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

Tel: 1 214 351 9595 www.mentegroup.com

Aircraft Index see Page 4

AeroSmith Penny August 18/09/2012 15:06 Page 1

S H O W C A S E

Price Reduced

1990 Citation II Serial Number: Registration: Airframe TT: Landings:

550-0636 N50NF 6343 4898

Airframe CESCOM Fresh Phase 1-5 and 10 - July 2011 Engines Pratt & Whitney JT15D-4 Eng. 1: 2659 SMOH 711 SHOT Eng. 2: 2659 SMOH 711 SHOT Avionics Sperry 3 tube EDS-603 3 Tube EFIS Sperry SPZ 500 Autopilot Global GNS XLS w/ GPS KGP 860 MFD Honeywell Primus 650 Color Radar Dual Collins 32A Navs 8.33 Spacing Dual Collins 22A Comms Dual Collins TDR 90 Transponders Dual Collins ADF – 462 Collins ALT-55B Flightphone Honeywell Mark VIII TAWS 406 ELT

Additional Features RVSM Thrust Reverse Fairchild A100 CVR AFT Baggage Freon Air Conditioning No Damage History Gross Take Off Weight Increase Exterior Overall Matterhorn White with blue stripes. New paint in June 1997 Interior Interior has seven passenger center club configuration. Also included is a left hand deluxe refreshment center. Seat belted flushing potty. New leather seats and carpet 2009

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

Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: +1 (713) 649-6100 Fax: +1 (713) 649-8417 Email: aspinfo@aerosmithpenny.com www.aerosmithpenny.com WORLD AIRCRAFT SALES MAGAZINE – October 2012

155

Albinati Citationjet 2+ September 18/09/2012 15:09 Page 1

S H O W C A S E

2008 Cessna Citationjet 2+ Serial Number: Registration: Airframe TT: Landings:

525A-0385 HB-VOP 1533 1515

Engines on TAP Elite Williams International FJ-44- 3A-24 FADEC Controlled LH: S/N 216179 1533 TT / 1515 CSN RH: S/N 216178 1533 TT / 1515 CSN Avionics Collins Proline 21 Avionics System with 3 (8x10 inc) color, active matrix liquid crystal displays. AHRS 2 Collins AHC-3050 ADC 2 Collins ADC-3000 IFIS 1 Collins IFIS-5000 FMS 2 Collins FMS-.3000 (incl. DME II) GPS 1 Collins GPS-4000A w/12-Channel RTU 2 Collins RTU-4200 NAV 2 Collins NAV-4000 and NAV-4500 ADF 1 Collins ADF DME 1 Collins DME-4000 VHF 2 Collins VHF-4000 w/8.33KHz spacing XPDR 2 Collins TDR-94 Mode S TCAS II 1 Collins TTR-4000 TCAS II EGPWS Mark V EGPWS with RAAS Radar 1 Collins WXR-800 ESIS GH-3000 ESIS CVR Provisions for installation of L3 connection FA 2100 CVR ELT 1 Artex C406-N w/3 freq. ELT MDC 1 Collins Maintenance Diagnostic System

Additional Equipment Gnd Com Dispatch Switch (powers 1Radio, 1 RTU and both audio panel) Pulselight System with interface to TCAS II Tail Log Lights Nose Landing Gear in/protection boot Installation Jeppesen Electronic Charts on MFD Crew Seat Sheepskin Slipcovers 110V Ac Universal Electrical Outlet w/500W Inverter Monorail Sunvisors – Entry Step Upgrade to Airstair Style Steep Approach Option Interior Two (2) Cockpit, six (6) Cabin passengers seats. Four executive club chairs with two fold-out executive tables. RH Fwd Refreshment Center. Aft Divider Assembly with sliding door Aft Low Boy storage cabinet with drawer One Aft Potty Belted Seat. Townsend Leather Satin finished wood veneer – Australian Walnut Brushed Aluminium Hardware Finish. Exterior Overall white with dark grey stripes JAR OPS 1

Asking Price: Make Offer

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

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

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Tel: Mob: E-mail: Web:

+41 (0) 22 306 1060 +41 (0) 79 2005265 info@albinati.aero www.albinati.aero Aircraft Index see Page 4

John Hopkinson Ultras July 18/09/2012 15:10 Page 1

S H O W C A S E

Cessna Citation Ultras Avionics Honeywell Primus 1000 3 - Tube EFIS Honeywell GNS-XLS FMS Honeywell MKVII EGPWS Honeywell TCAS II w/Change 7 L3 Cockpit Voice Recorder Global-Wulfsberg AFIS Interior Seven Passenger Interior & Belted Lav Seat Aft Tailcone Baggage w/Ski Tube. Zephyr Air Conditioning. Recently refreshed Interior Exterior Recently completed Permaguard sealed Exterior Maintenance Fresh Phase 1 - 5 completed by Landmark, Scottsdale Zero Engine Option follow us on twitter@HopkinsonAssoc

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

Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: (403) 291 9027 Fax: (403) 637 2153 sales@hopkinsonassociates.com www.hopkinsonassociates.com WORLD AIRCRAFT SALES MAGAZINE â&#x20AC;&#x201C; October 2012

157

James Vancil October 19/09/2012 14:31 Page 1

S H O W C A S E

2009 Citation XLS + Serial Number: Registration: Airframe TT: Landings:

560-6017 N7877D 1570 895

• Aircell High Speed Wi-Fi Onboard • Aircraft, APU, Engines on JSSI tip to tail program

Engines Left Engine: 1570 TT/ 895 Cycles Right Engine: 1570 TT / 895 Cycles APU 417 Hours Times as of: July 13, 2012 Exterior White, Dark Chocolate, and Black Interior The interior is an overall modern scheme with passenger seats done in a frosted pearl colored leather, window reveals in tapis ultra-suede, lower sidewalls covered in a rich chocolate patterned fabric, and a deep brown custom carpet stripped with a beige “lost wave” pattern. Cabinetry is finished in Dark Cherry with a high gloss wood veneer Seating and Options Seating for eight passengers in a center club configuration with six passenger seats and a forward side-facing seat. There is a left-hand side-facing seat in the lavatory for an eighth passenger. Furnishings include dual navigation chart cases, a forward left-hand refreshment center, and a right-hand closet. The lavatory

contains a non-belted flushing toilet (externally serviceable) with sink and hot water, a side facing seat and an aft centerline closet. Additional amenities include: Convection oven, an Aircell phone system and high-speed Wi-Fi internet, Airshow 4000 with 10.4” monitor, Auxiliary audio/video input jack, XM Radio, and Dual DVD Package DVD player, Cabin Surround speakers, and four 110 V outlets Primary Avionics This avionics package features a Collins ProLine 21 Avionics Suite with Four 8" x 10" Active Matrix Liquid Crystal Panel Displays. Engine functions are monitored on the Engine Indicating and Crew Alerting System FLIGHT DIRECTOR/AUTOPILOT: Collins ProLine 21 EFIS: Four Screen EFIS consisting of 2 Primary Flight Displays and 2 Enhanced Multifunction Displays COMMS: Dual Collins VHF-4000 w/8.33 spacing NAVS: Dual Collins NAV-4500 DME: Single DME-4000 TRANSPONDERS: Dual Collins TDR-94D Mode S w/Enhanced Surveillance FMS: Dual Collins FMS-3000 w/Performance Database (WAAS enabled) TCAS II: Collins TCAS-4000 w/change 7 EGPWS: Honeywell Mark V RADAR: Collins TWR-850 Turbulence Doppler System STORMSCOPE: WX1000E James Vancil

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BROADCAST WEATHER: Universal interactive Graphical Weather (displayed on MFD) ELECTRONIC CHARTS: Jeppesen Charts (displayed on MFD) CVR: L3 Communications FA 2100 ELT: Artex C406-N Aircraft can be shown in Atlanta, GA or see us in Orlando during the NBAA Tel: +1 (808) 250-1026 E-mail: Oahuflyer@yahoo.com

Aircraft Index see Page 4

Carolinajets Oct 19/09/2012 10:28 Page 1

S H O W C A S E

1999 Gulfstream V Airframe TT: Landings:

4463 1487

Engines Manufacturer: Rolls-Royce Deutschland Ltd & Co KG Model: BR-710 Total hours: 4240.5 (LH) and 4379.5 (RH) Total cycles: 1349 (LH) and 1375 (RH) Engines on Rolls-Royce Corporate Care program APU Manufacturer: Honeywell Model No. RE220-G-V Total hours: 3201 APU on MSP Program Avionics 6 Honeywell DU-880 Display Units 3 Honeywell SG-884 Symbol Generators 2 Honeywell DC-884 Display Controllers 1 Honeywell DP-884 Dimming Control 2 Honeywell FC-S80 Fault Warning Computers 2 Honeywell DA-800 Data Acquisition Units 1 Honeywell GBC-2020 Head Up Display System (HUD) Completion installed equipment: Enhanced Vision System (EVS) with HUD Wide Combiner, with display capability on Copilot’s Universal UCD Display 2 Honeywell IC-800E Integrated Avionics Computers(IAC) 2 Honeywell CD-810 Control Display Units 1 Honeywell DL-900 Data Loader 1 Honeywell GP-500 Flight Guidance Panel

3 Honeywell AZ-840 Micro Data Computers Completion installed equipment: 1 Honeywell IC-800E Integrated Avionics Computer (third unit) 1 Honeywell CD-810 Control Display Units (third unit) Ethernet/CD-ROM FMS Nav DB update feature activated 2 Universal Cockpit Display (UCD) Electronic Flight Bag systems; Display Jeppesen approach charts and aircraft position Communication Systems 3 Collins VHF-422D VHF transceivers 2 Collins HF-9000 HF Radio Systems 3 orbit Cockpit Audio Control Systems wi integral Selcal 2 Collins RTU-4280 Radio Frequency Management Units Completion installed equipment: 1 Magnastar C-2000 Multi-Channel Radio Telephone System 1 Honeywell MCS-6000 6 Channel Satcom System 1 AlliedSignal AFIS System with VHF and Satcom Link 1 Danka MFP-6000 Fax/Printer/Copier/Scanner 3 RJ-11 modern ports (Cockpt, Fwd VIP seat, Aft Divan) Additional Equipment Long Range Navigation Sensors, Short Range Navigation Sensors, Pulse Systems, Hazard Avoidance Systems, Exterior Lights - Precise Flight Pulselite Visual Contact System

Carolina Corporate Jets

Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: +1 (0) 704 662 8680 info@carolinajets.com www.carolinajets.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

159

CAI Socata TBM700B October 19/09/2012 17:09 Page 1

S H O W C A S E

2002 TBM 700B Serial Number: Airframe TT:

239 1,795

Engine PRATT & WHITNEY PT6A-64 (3,500 Hr. TBO) 442 Hours Since Hot Section Propeller HARTZELL 350 SPOH - Nov. 2008 Avionics EQUIPPED WITH 2-TUBE BENDIX EFIS NAV/COMM: GARMIN GNS-530W AP/FD: KING KFC-325 (W/PRESELECT) DME: KING KN-63 XPNDR: DUAL GARMIN GTX-327 ALTIMETER: KING KEA-346 R/ALT: KING KRA-405B EGPWS: KING KGP-560 (ON GMX-200) R/ALT: KING KRA-405B AUDIO: GARMIN GMA-340 GPS: DUAL GARMIN GNS-530W EFIS: TWO-TUBE BENDIX EFS-40 MFD: GARMIN GMX-200 W/CHARTVIEW RADAR: KING RDR-2000 (ON GMX-200) S/SCOPE: WX-500 TCAD: SKYWATCH HP Wx: GARMIN GDL-69 (DOWNLINK) Features THREE OWNERS SINCE NEW, GASEOUS OXYGEN SYSTEM, ROLL STEERING UPGRADE FOR MORE PRECISE AUTOPILOT CONTROL FOR APPROACHES, UPGRADED THE EFIS 40 TO COUPLE WAAS VERTICAL (LPV) APPROACHES, ETM 700 ENGINE

TREND MONITOR, FULL COPILOT INSTRUMENTS: KING KI-525 HSI, AIRSPEED & VERTICAL SPEED INDICATORS, ALTITUDE INDICATOR, ELECTRIC ARTIFICIAL HORIZON, ELECTRIC TRIM CONTROL, ALTIMETER AND AIRSPEED INDICATOR. KEITH FREON AIR, TRI BAND ELT, KNOWN ICING (DE-ICE BOOTS, ELECTRIC PROP, ELECTRICALLY HEATED RIGHT HAND SIDE WINDSHIELD, PITOT/STALL, INERTIAL SEPARATOR), ELT, OAT GAUGE AND NO DAMAGE HISTORY Maintenance ANNUAL INSPECTION COMPLIED WITH FEBRUARY 2012 BY SOCATA AIRCRAFT, LANDING GEAR ON 10 YEAR LONG LIFE INSPECTION PROGRAM WHICH INVOLVED REBUILDING THE ACTUATORS TO 10 YEAR SPECS, REPLACING ALL THE TORQUE LINK PINS AND BUSHINGS IN ALL THREE GEAR AND RESEALING THE GEAR, NEW WING BOOTS NOVEMBER 2008. Interior PLATINUM EDITION, HIGH COMFORT BEIGE LEATHER SEATS, GOLD METAL FINISH FOR READLING LIGHTS, BEIGE ALCANTARA WALLS, WOOD OVERHEAD PANEL, EXECUTIVE WRITING TABLE, AND HIGH GLOSS CHERRY CABINETRY. Exterior WHITE UPPER FUSELAGE AND WINGS, LOWER FUSELAGE BLUE WITH SILVER, BLUE AND RED ACCENTS The aircraft is based in Europe

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

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WORLD AIRCRAFT SALES MAGAZINE – October 2012

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

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

Premier Aviation October 19/09/2012 15:26 Page 1

S H O W C A S E

1986 Gulfstream III Serial Number: Registration: Airframe TT: Landings:

483 N794ME 6550 3700

• HUSH KITS ALEADY FITTED • ENGINES DUE MID 2016 • 72 MT DUE END 2015 • 13 PASSENGERS • LOW TT 6600 HOURS • APU ON MSP • PART 135 READY • WORLDWIDE OPS Engines ROLLS ROYCE SPEY MK 511-8 Engine # 1 S/N: 11386 1030 SMOH Midlife due 5/1216 Engine # 2 S/N: 11387 1030 SMOH -

Hangared in KPTK (Pontiac Michigan)

Midlife due 5/1216 Avionics Sperry 5 tube EFIS Dual Collins VIR-32 Nav Dual Collins DME-42 DME Sperry WR-800 Radar Triple Honeywell LaserNav 8.33 Khz/FM Immunity Fairchild A-100 CVR Dual Collins HF Triple Collins VHF-21B Comm Dual Collins ADF-60 Features Airshow 400 Honeywell Unilink System Stage III Hush Kits Sony VCR Nordskog Convection oven

Braun Coffee Maker APU on Honeywell MSP Satellite modem and AC power for PC’s TT3000 Universal Aero Worldwide Satcom 12 Audio International Seat Switch Panels Interior Jump seat. 5 new Erda Single Cabin Seats in cappuccino. Two Erda Double Club Seats and a 4-place Erda Divan. Cream leather headliner and window panels. Ulta Suede Sand Bulkheads. Custom wool carpets in extravagant camel and blue. New richly detailed high gloss teak woodwork. Matte finished platinum hardware. Completely refurbished cockpit in black. Airshow 400 with 20” and 14” flat-screen monitors in bulkhead fore and aft with Lexicon Remote Controller. Trash compactor Exterior Aircraft exterior is Snow White with Navy Blue and Red Velvet Stripe. Matterhorn White Wheel Wells

Two Corporate Owners Since New

2008 Hawker 900XP Serial Number: Airframe TT:

HA-0072 850

The aircraft may be viewed in Warsaw Poland where it is based and hangared. One private owner flown by the same three pilots since new, and never chartered, the aircraft has no damage history. All base maintenance exclusively carried out by Jet Aviation, Zurich. EU Ops, RVSM and MNPS compliant. AFIS System, Paperless Cockpit FSU System w/dual EFB and Second File Server for redundancy, Cockpit Power Outlet, Additional Storage Drawers under each Club seat (4), 115 VAC Power, Drop down Armrests on all individual seats, Long Range Oxygen, Belted Lavatory Seat, 6-person Liferaft, AirCell ST3100 iridium phone w/ cordless cockpit & cabin handsets, Enhanced Mode S diversity.

Engines Honeywell TFE 731-50R engines rated 4,660 lbs. thrust each. DEEC - Digital Electronic Engine Controller with engine condition trend monitoring (ECTM). Automatic Power Reserve (APR). Note, NEVER exercised! Thrust reversers. Left Engine: Serial Number 122247 TTSN 850 hrs Cycles 651 Right Engine: Serial Number 122248 TTSN 850 hrs Cycles 651 Auxillary Honeywell 36-150[W] APU (approved for in-flight operation up to 30,000 feet) Serial Number P 1090 TTSN TBC Avionics Collins Pro Line 21 Flight Display System with two AFD3010 adaptive flight displays (pilot’s and copilot’s PFD)

Premier Aviation Weston Airport, Leixlip, Co. Kildare, Ireland

Advertising Enquiries see Page 8

www.AvBuyer.com

and two graphical AFD-3010E adaptive flight displays (pilot’s and copilot’s MFD). Pilot’s MFD incorporates an engine indicating (EI) system. Dual Collins VHF-4000 digital CNS radio transceiver with 8.33 KHz spacing Collins HF-9000 high frequency transceiver. Coltech Selcal Collins NAV-4000 VOR/LOC/GLS/ ADF/marker beacon receiver Interior The cabin is configured with seating for 8 passengers with a forward double club arrangement, a rear port side three place divan and single seat opposite. The belted rear lavatory, plus additional fold away crew seat provides a total seating capacity of three crew plus nine pax

Tel: +372 5993 6888 Mob: +353 868 298626 E-mail: AlanNee@premieraviation.ie

WORLD AIRCRAFT SALES MAGAZINE – October 2012

161

WAS 'Substance' June 2011 19/09/2012 15:20 Page 1

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opportunities:

1 (800) 620-8801 +1 (469) 366 9187 www.avbuyer.com

Project1_Layout 1 18/09/2012 16:57 Page 1

NEW Marketplace OCT12 19/09/2012 15:01 Page 1

Marketplace Boeing 737-300 VIP

Tel: +44 (0) 1531 633 000 Email: trevorw@euroav.com

European Skybus Ltd Price:

Please Call

Year:

1990

S/N:

24570

Reg:

N470AC

TTAF:

53457

This Boeing 737-300 has recently undergone extensive maintenance and engineering work and has been converted to a VIP configuration in February 2011. The aircraft has been completely refurbished to the highest standards. The new owner will benefit from the millions of dollars and thousands of man hours that have gone into completing this VIP conversion. Winglets have been fitted to improve the aircraft performance and range.

Location: United Kingdom

Boeing 737-500

Price:

Please Call

Year:

1991

S/N:

24645

Reg:

EI-EOE

TTAF:

36,946

Location: United Kingdom

Pilatus PC-12/47

Tel: +44 (0) 1531 633 000 Email: trevorw@euroav.com

European Skybus Ltd

This Boeing 737-500 has recently undergone extensive maintenance and engineering work including a “D” check and has been converted to a VIP configuration in November 2010. The aircraft has been completely refurbished to the highest standards. The new owner will benefit from the millions of dollars and thousands of man hours that have gone into completing this VIP conversion which can include optional Winglets to improve the aircraft performance and range.

Tel: +1 626-584-8170 Email: jason@aviasource.aero

Avia Source, Inc Price:

USD$2,675,000

Year:

2006

S/N:

732

Reg:

M-ZUMO

TTAF:

1600

This excellent PC-12/47 is equipped with the Second Battery, Large Oxy System and Additional Air Conditioning. It has the 8 passenger interior with the 6 seat BMW Platinum Upgrade and two additional standard seats. Delivered with: 0 time since Hot Section Inspection, 0 time since Prop Overhaul and we will paint stripes to your specifications.

Location: United Kingdom

Price:

Please Call

Year:

1998

S/N:

3095

Reg:

PH-EVY

TTAF:

2011

Location: Netherlands

Dassault Falcon 2000LX

Tel: +31 (0) 629 560 272 Email: hwac@kpnmail.nl

EPSN

Dornier 328

Aircraft in Executive lay-out 12 pax. Exceptionally wide corporate cabin arrangement with forward kitchen and aft Wardrobe/Lavatory room (wider then e.g. G V or Falcon 900). Kitchen with oven, coffeemaker, wash bin, ample stowing cabinetry. Cabin with moving map display, video /audio system. Wardrobe / lavatory area with large wardrobe space. With access to the aft baggage compartment. Fresh Phase V inspection, Fresh LG Overhaul. EASA JAR/OPS1 equipped. Dual S-Transponder. RVSM mod c/w.

FortAero Business Aviation Corp Price:

$23,500,00 no VAT

Year:

2009

S/N:

160

Reg:

OY-CKH

TTAF:

2220

Tel: +31 629 560 272 Email: da2000lx@fortaero.com

EASA Ops compliant, JAR OPS1 Regulation. Up to date maintenance service, Airshow 4000. The crew and the operator are ready to continue the operation of the aircraft. A simple change transaction of business jet ownership.

Location: Denmark

164

WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

Aircraft Index see Page 4

NEW Marketplace OCT12 21/09/2012 10:05 Page 2

Marketplace Hawker 800A

Leonard Hudson Drilling Price:

US $3,975,000

Year:

1995

S/N:

258273

Reg:

N337WR

TTAF:

6615.3

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

Exceptional Hawker 800A "Built for the speed of business". Full true worldwide capability with NAT/MNPS, RNP-10 Approval, 8.33MHz, dual KHF-950 w/SELCAL onboard Magnastar fax option, and galley. All this with a 2,600 nautical mile range, offered at US $3,975,000.

Location: USA

BELL 206L4

Leonard Hudson Drilling Price:

US $1,975,000

Year:

2002

S/N:

TBD

Reg: TTAF:

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. 1695 TTSN, Two corporate owners.

1700

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

Recent ‘no expense spared’ ($800,000) airframe refurbishment at Acro Helipro within the last 100 hours 15,265 total time, most components over 50% remaining. 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’.Fresh annual / Export C of A

Location: USA

BELL 212 (Seven Available)

Leonard Hudson Drilling Price:

Please Call

Year:

Call for details

S/N:

Call for details

Reg:

Call for details

TTAF:

Call for details

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

Seven, Late Model, Bell 212s In 'Off Shore Configuration' Now Available. Ask for pricing for one or all seven.

Location: USA

Agusta A109E Power

Aerolineas Ejectivas Price:

US$ 3,600,000

Year:

2006

Tel: +5215 5414 05052 Email: m.toledo@aerolineasejecutivas.com Engines #1 #2 Time Since New 1250

S/N: Reg: TTAF:

1250

Location: Mexico

www.aerolineasejecutivas.com Advertising Enquiries see Page 8

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

165

NEW Marketplace OCT12 19/09/2012 15:03 Page 3

Marketplace Aviation Advisors Int’l, Inc

Learjet 60 XR

Price:

$7,500,000

Year:

2008

S/N:

338

Reg:

TBD

TTAF:

218

Tel: +1 (941) 351-5400 Email: BobD@aaisrq.com

The Learjet* 60 XR easily outpaces the competition in time-to-climb performance and operating altitude without compromising a class-leading low operating cost. With its cutting-edge cockpit technologies and stylishly redefined cabin space, the Learjet 60 XR across distances of up to 2,405 nm. with ease.

Location: USA

Aviation Advisors Int’l, Inc

Challenger 601-3A/ER

Price:

$3,995,000

Year:

1992

S/N:

5121

Reg:

N328AM

TTAF:

8,949

Tel: +1 (941) 351-5400 Email: BobD@aaisrq.com

A "no excuses" airplane. With all major inspections just accomplished . Fresh 6/12/24/60 /120 & 240 Month inspection c/w in 2011. Fresh HSI on left engine. Fresh gear overhaul and interior refurbishment.

Location: USA

Socata TBM 850

Aviation Advisors Int’l, Inc Price: Year:

2006

S/N:

360

Reg:

N874CA

TTAF:

1,475

Location:

Socata TBM 700B

Please Call

Year:

2002

S/N:

230

Reg:

N324JS

TTAF:

1426

Location: United Kingdom

Cessna Citation XLS

Jet speeds with single engine turboprop economy. That is what you get with this superbly maintained TBM 850. Climb to 31,000 in 5 minutes and fly 1585 NM in economy cruise. Slip into 2100 foot strips. That is the versatility of this marvelous plane. The panel and maintenance history of this aircraft is proof of exceptional pride of ownership. The panel includes the IHAS 8000 TCAS/TAWS and the WX500 stormscope and RDR Radar displayed on the KMD 850 MFD for utmost safety and comfort. Maintenance has been performed by the book and only by factory authorized technicians.

Tel: +44 (0) 7957 106 952 Email: mail@jtair.net

JT Air Ltd Price:

An extremely well presented and cared for Example of a Socata TBM 700 B with recent Hot Section Inspection, Socata Service Centre Maintained, Annual Inspection Completed Dec 2011. Complete and Original Logs. No Exceedences. Always Hangared. VAT paid in Europe. Garmin 530, KMD 850 MFD, EFIS-40 EHSI & EADI, Annual 31 Dec 2012, Gear Inspection & Long Life Enrolled, Garmin 330 Mode S, Prop 260SN, Interior Flawless, 2 Drink /Storage Cabinets, 6 Place Bose, Crew/Pac Music. Full Detail www.jtair.net/n324js.

Beechcraft Vertrieb & Service GmbH Price: Year:

2007

S/N:

Tel: +1 941 351 5400 Email: BobD@aaisrq.com

Tel: +49 (0) 821 7003 100 and -145 Email: info@beechcraft.de

EU Reg, EU-OPS, CVR (2h), HF-1050, TCAS II, CMS400 Checklist, Dual FMS UNS-1 ESP, AvVisor+, Aircell ST-3100, EASA German commerc. certif., CAMO+, fresh HSI 08/2012!

Reg: TTAF:

2,600

Location:

166

WORLD AIRCRAFT SALES MAGAZINE – October 2012

www.AvBuyer.com

Aircraft Index see Page 4

NEW Marketplace OCT12 19/09/2012 15:04 Page 4

Marketplace Beechcraft King Air C90

Tel: +33 (0) 6 126 168 83 Email: kingselling@futura-trading.com

Futura Trading Price:

Make offer

Year:

1977

S/N:

LJ-717

Reg:

F-GFHC

TTAF:

13407

TSN: 13417. CSN: 12935 ENGINES: PT6A-21: TSN 13017 / 13022 TSO 4717 / 3127 CSO 4196 / 2783 MORE Program on Left Engine

Location: France

Bombardier Global Express

Tel: +34 (0) 618 637 666 Email: jmespinosa@aeromarformula.com

AEROMAR Price:

Make Offer

Year:

2000

S/N:

9016

Reg:

EC-KVU

TTAF:

EU-OPS1, Part 21, and Eurocontrol. Airworthiness Review Certificate issued by ES.MG.070.RA.001, next due December 04th 2012. TAG Aviation España has capability to issue the ARC of any Bombardier Global Express. Aircraft not involved in operational incidents or major repairs. Honeywell Primus 2000 6-Tube. Triple IC-800 Integrated Avionics Computers. Triple NZ-2000 FMS. DL-950 Data Loader. SELLER MOTIVATED

Location:

www.aeromarformula.com www.jtair.net/n324js

Global Express XRS

Tel: +34 (0) 618 637 666 Email: jmespinosa@aeromarformula.com

AEROMAR Price:

Please Call

Year:

2006

S/N:

9XXX

Reg:

EC-XXX

TTAF:

1,758.50

Location:

Date of Completion: June 2007, TTSN: 1.758:50 Hrs, Landings: 731, Fresh 1A; 2A; 1C; 2C & 4C (May 2012), Both ETSN: 1.758:50 Hrs, Both ECSN: 731 Cy. Rolls Royce Corporate Care Enrolled, APU TSN: 1.769 Hrs, CSN: 1.735 Cycles, Honeywell MSP Enrolled, Fresh 500 hrs. inspection (May 2012) Thales-Sextant Head-Up Display System, Bombardier 2nd gen. Enhanced Vision System as per SB 700-34-002/700-34, Six exterior video cameras connected to Airshow Securaplane 500 Option (Incl. UHF transceiver and Solar Panel for Battery) RVSM, BRNAV, RNP-10 & MNPS Qualified EU-OPS 1 Qualified.

www.aeromarformula.com

Bombardier Global 5000 Vision

Galveston Maritime, S.L. Price:

Please Call

Year:

2013

S/N:

TBD

Reg: TTAF:

Tel: +7 (0) 495 222 2022 Email: galvestonmaritime@gmail.com

* Limited Edition * EASA EU-Ops1, BRNav; RVSM; MNPS * Quick Access Recorder * Operations at Airports with Max. Weight Restrictions * Second Data Link * EVAS * 19 inch pop-up monitor in credenza * RCA Jack port * Two iPod Cradle installation * Electronic Floor Tracking * Cabin Crew Seat LH Galley * Main entry door with handrail extension * Enviroclean system * Universal outlets * Bulkheald Deco Panels in Silk * Sideledge Transition cap

Location: Panama

Agusta A109C

Abraham Salcedo Price:

Make Offer

Year:

1991

S/N:

7659

Reg:

N828NN

TTAF:

1836.8

Tel: +58 (0) 416 608 5929 Email: helitradersinternational@gmail.com Fully IFR helicopter with VIP interior. Recently overhauled, painted on white with blue and silver stripes, new avionics(Garmin GNS-430AW,Garmin GNS430W,Garmin GAD ñ 42, Garmin GMX-200 MFD,Garmin GTX-330 Mode S transponder, RDS-81 Radar, Avidyne TAS-610.

Location: USA, FL Advertising Enquiries see Page 8

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – October 2012

167

AvBuyer February 2011_Layout 1 22/08/2012 10:12 Page 4

Your next jet could be closer than you think at

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NEW Marketplace OCT12 20/09/2012 13:21 Page 6

Marketplace Par Avion Ltd

+1 832 934 0055

Alberth Air Parts

Spare Parts

FALCONS • HAWKERS • LEARS

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SALES • ACQUISITIONS • CONSULTING

Fax: +1 832 934 0011

Find an Aircraft Dealer The World’s leading aircraft dealers and brokers - find one today

avbuyer.com/dealers World Aircraft Sales (USPS 014-911), August 2012, Vol 16, Issue No 10 is published monthly by World Aviation Communications 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: World Aircraft Sales Magazine 1210 West 11th Street, Wichita, KS 67203-3517. Postage is paid at Wichita, KS and additional mailing offices.© Copyright of World Aviation Communications Ltd. Every effort is made to ensure the accuracy of material published in World Aircraft Sales 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 World Aircraft Sales 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.

Next Issue copy deadline: Wednesday 17th October Advertiser’s Index 1st Source Bank ......................................................107 21st Century Jet Corporation ...............................170 ABACE-Asian Business Aviation ........................121 Action Aviation.................................................101,113 AeroSmith/Penny.....................................................155 AIC Title Services ....................................................133 Air 1st Aviation ..............................................................4 Aircraft Cost Calculator ..............................................8 Albinati Aeronautics SA .........................................156 AMSTAT .....................................................................136 Aradian Aviation..........................................................89 Aviation Consulting Service ..................................131 Avjet Corporation.................................................22-25 Avpro ................................................................FC,14-17 Bell Aviation ..........................................................38-39 Bombardier..................................................................63 Boutsen Aviation..................................................44-45 Bristol Associates ......................................................37 Carolina Corporate Jets .........................................159 Carolina Jet ...............................................................105 Central Business Jets .............................................171 Charleston Aviation Partners ...................................67 Charlie Bravo Aviation...............................................53 China Aviation Summit ...........................................163 Conklin & de Decker ...............................................143 Corporate Aircraft Photography...........................139 Advertising Enquiries see Page 8

Corporate AirSearch Int’l ..............................103,160 Corporate Concepts ......................................147-149 Corporate Flight Management..........................28-29 Dassault Falcon Jet Europe....................................2-3 Donath Aviation ..........................................................75 Duncan Aviation..........................................................85 Eagle Aviation..............................................................51 Eagle Creek Aviation .................................................41 EMBRAER Pre-Flown ........................................68-69 European Helicopter Show...................................146 ExecuJet Aviation........................................................73 Freestream Aircraft USA....................................34-35 Gamit ............................................................................56 General Aviation Services ........................................83 Guardian Jet..........................................................19-21 Gulfstream Pre-Owned.............................................71 Heliasset.com ...........................................................145 Int’l General Aviation-India Expo ..........................144 Intellijet International .................................................6-7 Japat A.G. .........................................................152-153 J. Mesinger Corporate Jet Sales ......................11-13 James Vancil .............................................................158 JetBlack Aviation ..................................................98-99 JetBrokers..............................................................32-33 Jetcraft Corporation....................................42-43, BC Jeteffect ........................................................................65

www.AvBuyer.com

JETNET ......................................................................126 John Hopkinson & Associates .......................93, 157 JSSI-Jet Spport Services..........................................77 Kaiser Air ...................................................................115 Lektro..........................................................................135 MEBA-Mid East Business Aviation .....................142 Mente Group ...........................................................154 NBAA Meeting & Convention...............................119 New Jet International .................................................61 Northern Air......................................................150-151 O’Gara Aviation Company.................................26-27 Par Avion.........................................................................5 PC Aviation ...........................................................48-49 Premier Aviation .......................................................161 PremiAir Global Aircraft Sales ................................79 Rolls-Royce ...............................................................123 Sikorsky Resales......................................................109 Sojourn Aviation .........................................................31 Southern Cross Aviation ........................................129 Survival Products.....................................................135 Tempus Jets ..............................................................117 The Jet Collection.......................................................47 Universal Avionics ......................................................87 VREF Aircraft Values ...................................................4 Wiley Rein .................................................................139 Wright Brothers Aircraft Title...................................57 WORLD AIRCRAFT SALES MAGAZINE – October 2012

169

21st Century May 21/08/2012 14:59 Page 1

When you own one of the Tri-Jets, you own the best built business jet In the sky; and the Federal Aviation Adminstration has certified them with no life limits for any part of the airframe structure. They exhibit noteworthy handling manners, superb poise throughout the operating envelope, and light but not oversensitive control feel. In addition, Tri-Jets have set world and national records for distance, speed, time to climb and sustained altitude. With efficient space management the Falcon 900 Series aircraft have a larger passenger seating area than the Gulfstream IV. These Tri-Jets weigh 15 tons less and are 22 feet shorter than the Gulfstream IV and provide 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 worldâ&#x20AC;&#x2122;s first purpose built fly-by-wire (FBW) business jet, the Falcon 7X capitalizes on Mach 2 technology. FBW enables a MMO of .90 and enhanced low-speed handling, pitch and roll stability characteristics. The 7X can climb directly to FL 410 at ISA + 10Â° conditions. Two Hundred (200)+ very high speed, ultra long range Falcon 7X business jets have been ordered!

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

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

INTERNET: WWW.TRI-JETS.COM

E-MAIL: sales@tri-jets.com

CBJ September_CBJ November06 21/08/2012 15:00 Page 1

General Offices

Vienna Office

Minneapolis / St. Paul

Austria

TEL: (952) 894-8559

TEL: +43 660 549 1099

FAX: (952) 894-8569

FAX: +44 20 7900 2890

WEB: WWW.CBJETS.COM

WEB: www.cbjets.com

EMAIL: INFO@CBJETS.COM

EMAIL: erich@cbjets.com

iinngg d d nn PPee l l aa DDee

2004 FALCON 2000 S/N 217

FALCON 900EX EASY S/N 170

US & EASA Certified, 10 PAX Interior, 100% JSSI, Less than 400 Hours since C Inspection

Single US Owner Aircraft, 1175 Hours TT, MSP Gold, Honeywell EVS, Triple IRS and FMS, 13 PAX with Fwd and AFT lav

2009 HAWKER 4000 S/N RC-35

2008 HAWKER 900XP S/N 033

Upgrade and Enhancement Program Already C/W, Fully transferable 5 year warranty expires 12/23/2014, no damage history

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CITATION VII S/N 7004

Two Fortune 500, Midwestern, United States Owners Since New, Impeccable Maintenance by Both Factory Service Centers and in-house Factory Trained Personnel. Below Market Priced

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1125 ASTRA SP S/N 49

Power Advantage Engine Program, Pro-Parts Airframe Program and on Cescom Since New; Stand 8 Place Interior; Aircraft can be delivered anywhere in the world

3322.1 TT; Fresh C Check, new paint & refurbished interior by Astra Service Center 08/11, MSP, CAMS, Dual Universal UNS-1E FMS w/ GPS, Increased Weight Mod

SIKORSKY 76B S/N 344 Fortune 100 Owned, 8 Place Executive, Fully Loaded EFIS Cockpit, Freon Air -conditioning

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Up here, the air and the competition are rare. Our birds-eye view of the aircraft brokerage market comes from our unmatched combination of over 50 years’ experience and a large, global network of partners and customers. That means you have more buy, sell and trade options. put a tailwind on your transaction. Call us and see. You’ll love the view. www.jetcraft.com I info@jetcraft.com I Headquarters +1 919-941-8400

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2008 Falcon 2000DX EASy - SN 601

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2006 Bombardier Global XRS - SN 9181 Increased Max Take-Off Weight to 99,500 Operations at Airports with Max Weight Restrictions 2000 Boeing BBJ 2007 Challenger 300 2006 Challenger 604 2012 Challenger 605 2005 Citation CJ2 1995 Citation V Ultra 2005 Citation X 2009 Falcon 2000LX 2010 Falcon 7X 1996 Falcon 900B

2013 Global 5000 2012 Global 6000 2002 Global Express 2011 Global XRS 2004 Gulfstream 550 2012 Gulfstream 550 2015 Gulfstream G650 2000 Gulfstream V 2002 Lear 60 2008 Legacy 600

2007 Global 5000 - SN 9214

Bombardier SmartParts Airframe Coverage Gold Edition - Warranty Remaining

1997 Gulfstream IVSP - SN 1316 One Owner Since New - 12,800 TT Rolls Royce Corporate Care Engine Program

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