FC 2019 August.qxp_FC December 06 17/07/2019 12:20 Page 1
Volume 23 Issue 8 2019
™
ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION
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THIS MONTH • Helicopter Comparison: Bell 505 vs Robinson R66 • How to Get Funding for an International Jet Transaction • Three Myths about Business Aircraft Ownership
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Editor Welcome May19.qxp_JMesingerNov06 16/07/2019 15:29 Page 1
Guest Editor’s VIEWPOINT Louis 'Lou' Seno
The Nuts and Bolts of Managing Business Jets Today hen JSSI first entered the market in 1989, owners were of course focused on availability of their aircraft - but they were also concerned with costs associated with owning and operating the asset, as well as its residual value. Today, these key factors remain critical to every flight operation. However, a few things have changed… One key difference is the speed at which owners demand the same accurate information they are accustomed to with other data they rely on to run their business, and they want the information to be definitive. The second change that we have probably all experienced over the last decade is how our working environment is much more volatile. Changes in markets, economies, financial and political environments, social perceptions and workforce resources can all impact your operating budgets and asset values in the blink of an eye.
W
What are the Nuts and Bolts?
The nuts and bolts of managing a business aircraft begins with keeping it airworthy and available for the owner or client 24/7. This requires a good back-up plan for supplemental lift when the aircraft is down. To some of us, this is the easy part because we’re trained to keep the aircraft flying, unlike other management tasks that make you feel as though you need a Ph.D. in finance, engineering, and psychology. In addition to aircraft availability, you need a proactive plan for the life cycle of the asset. This plan not only encompasses maintenance forecasting—including major events, enhancements, upgrades, budgeting and asset valuation—but you also need to manage the owner relationship, which is where the psychology degree can come in handy… Developing and managing this asset plan may take more time and capacity than you have available. Therefore, you may want to involve experienced consultants to assist you with critical aspects of your plan, like we have at JSSI. Maintenance planning and forecasting involves keeping accurate maintenance records and can include the latest tracking software. But that is just the start. A detailed maintenance forecast must include out-the-door costs for all maintenance events, both major and minor. Once again, consultants can assist with detailed estimates and advice on where to take your aircraft for the
4 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
next major inspection among other cost-critical events. Budgeting, benchmarking and controlling costs requires substantial research. Unless you have been managing the same asset for years with a baseline and year-over-year escalation history, it is difficult to determine what those operating costs will be for your operation. There are tools and consultants that will also support you with this detailed task, including Conklin & de Decker. If you need costs for a quick response to a budget question from the owner, they have online subscriptions providing a fast solution, as well as detailed life cycle budgeting programs. In addition, aircraft values over the past decade have been a moving target, with market volatility making a major impact. Aircraft owners need to know where they stand when it comes to current asset value and they expect a quick and definitive answer. Whether you’re working through a change in tax status or planning for the right time to sell and upgrade to a newer, more efficient aircraft, knowing the current residual asset value is a necessity. It’s good practice today to get an aircraft appraisal at least once every three years so you can be ready to answer any of the value questions the owner has on any given day. In addition, before making a capital investment to upgrade the avionics or install a new Wi-Fi system, it’s smart to make sure the investment improves or at least preserves the value. Maintenance programs also enhance the residual value of the aircraft and will be taken into consideration in the appraisal. We have American Society of Appraisers (ASA) accredited appraisers at JSSI, and I highly recommend using a credentialed professional for current aircraft value determination.
Closing Thought…
As our industry continues to grow and evolve, the need for effective aircraft management practices will be key to our future success and to the fiscal responsibilities of our flight operations. More information from www.jetsupport.com ❙ Louis Seno is the Chairman Emeritus of JSSI, where he provides counsel to the board and leads JSSI Advisory Services. Mr. Seno serves on the Board of Directors of EAA and GAMA, is president of the West Michigan Aviation Academy Foundation, and has been involved with the Embry-Riddle Aeronautical University for 25-years.
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Contents Layout July19.qxp 18/07/2019 15:22 Page 1
Vol. 23 Issue 8
Contents
2019
4
Guest Editor - Louis ‘Lou’ Seno
18
Market Intelligence Trends and observations from the leading analysts…
32
What Were the JETNET iQ Summit Highlights? (Part 1)
42 52 60 68
Finance
How to Get Funding for an International Jet Transaction How Does an Aircraft Lease Work?
Buying & Selling Aircraft
How to Avoid Aircraft Value Misconceptions
Ownership
Three Myths About Business Aircraft Ownership
74
How to Control Your Aircraft Fuel Costs
78
Are you Using the Best Airports you Can?
82 90 96 100
Helicopter Comparision
Bell 505 Jet Ranger X vs Robinson R66
Aircraft Price Guide Turboprops Values
Aircraft Specifications
Turboprops Performance & Specifications Guide
Maintenance
Refurbish Your Jet With Maximum Appeal (Part 1)
106
From Under the Sea to Up in the Air: Aircraft Diamond Coating
112
Touchscreen Avionics: What are the Benefits & Challenges? (Part 2)
114
What’s the Future of Avionics? (Part 3)
Avionics
Community News
120
OEM News, Industry Appointments & Upcoming Events
124
Products & Services
129
Showcases
140
Market Place
144
Advertisers Index
146
Aircraft for Sale Index
Next Month • Aircraft Registries: How Could they Impact Your Insurance? • SwiftBroadband Cockpits: Getting ‘There’ from ‘Here’ • Five Truths About Helicopter Ownership 12 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
EDITORIAL Commissioning Editor Matthew Harris +44 (0)20 8939 7722
[email protected] Editorial Contributor (USA Office) Dave Higdon
[email protected] Consulting Editor Sean O’Farrell +44 (0)20 8255 4000
[email protected] ADVERTISING Lee McLoughlin - Account Director US Aircraft & Services Sales Freephone from USA: +1- 855 425 7638
[email protected] Matt Chappell - Account Manager US & Canada Aircraft & Services Sales Freephone from USA: +1- 855 425 7638
[email protected] Lise Margin - Account Manager US Aircraft Sales +1- 703 818 1024
[email protected] Maria Brabec - Account Manager EMEA & APAC Aircraft & Services Sales +420 604 224 828
[email protected] UK Head Office +44 (0)208 549 9508 STUDIO/PRODUCTION Helen Cavalli / Mark Williams +44 (0)20 8939 7726
[email protected] [email protected] CIRCULATION Sue Brennan +44 (0)20 8255 4000 Freephone from USA: +1- 855 425 7638
[email protected] AVBUYER.COM Jayne Jackson
[email protected] Emma Davey
[email protected] MANAGING DIRECTOR John Brennan +44 (0)20 8255 4229
[email protected] USA OFFICE 1210 West 11th Street, Wichita, KS 67203-3517 EUROPEAN OFFICE AvBuyer House, 34A High Street, Thames Ditton, Surrey KT7 0RY, UK +44 (0)20 8255 4000 Freephone from USA: +1- 855 425 7638 PRINTED BY Fry Communications, Inc. 800 West Church Road, Mechanicsburg, PA 17055 www.AVBUYER.com
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MarketIndicators Aug19.qxp_Layout 1 16/07/2019 15:33 Page 1
MARKET INDICATORS
Business Aviation Market Overview What’s the health of the Business Aviation marketplace moving into August? What’s impacting the current market trends, and how are prospective buyers approaching
new and used aircraft sales with talk growing that a recession could be on the horizon? sed/pre-owned retail jet transactions (whole aircraft sales and leases) were down 20% Year-over-Year (YoY) through June 1, 2019 compared to the same period in 2018, according to JETNET databases. Meanwhile, used jet inventory has been on a slow but steady increase, with more than 2,100 jets listed as for sale – representing 9.6% of the worldwide fleet – at press time. Limited availability of late-model inventory, particularly of the more popular models, continues to confront and no doubt frustrate would-be customers and their dealers and brokers. In the Light Jet segment, just 16 Embraer Phenom 300/300E aircraft (3.2% of the worldwide fleet of more than 500 jets) were on-market as of mid-July. The situation mirrors that of the Super Mid-size Jet segment, where only 10 used Bombardier Challenger 350 aircraft are listed (3.3% of the installed base of almost 300 aircraft). And availability is only marginally higher in the Large Jet segment, with 27 Gulfstream G550 aircraft (4.7% of the worldwide fleet of almost 575 aircraft) available for purchase according to industry listing services.
uptick in book-to-bill performance bolstered by several fleet deals, including a $1bn order for 14 Gulfstream G650ER and four Gulfstream G500 jets from Qatar Executive. The backlog increased by an estimated 6% in Q1 2019 at the ‘Big Five’ business jet OEMs over 2018 Year-End results, based on the latest JETNET iQ estimates. Much of the order activity is reportedly for newly or recently certified models as customers continue to be attracted to the latest and greatest technologies on offer. Our current outlook is that the momentum of orders and backlog will be enough to support ‘somewhat higher’ overall delivery rates, at least through 2019 and 2020. Depending upon its severity and duration, an economic slowdown in the next 12-24 months will cause industry leaders to reset output rates and almost certainly make some of the tough, but necessary calls to take certain low-volume models out of production. This has important implications for future residual values, and should, in our opinion, be factored into purchase offers for both new and used models.
OEM Health Check
Buyer Sentiment Update
U
At press time, it was too early to know how the OEMs were performing on various key metrics, including orders, deliveries, backlogs and book-to-bill in Q2 2019. Results from Q1 2019 were generally encouraging, with a notable 18 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
The sentiment of business aircraft owners/operators has slipped back over the past year, after reaching a post-2008 crisis peak in Q2 2018. About 32% of respondents to the Q2 2019 JETNET iQ Survey believe that we have not yet www.AVBUYER.com
MarketIndicators Aug19.qxp_Layout 1 16/07/2019 15:34 Page 2
AVBUYER.com With 35+ years in the aviation industry, Rolland Vincent, president, Rolland Vincent Associates (RVA) has served as a trusted consultant at Textron, Bombardier and ICAO in various roles in strategy, marketing, business development, aviation economics and aviation statistics. Identifying a need for enhanced insights into the state of the business aviation marketplace, Rolland Vincent Associates partnered with JETNET in 2010 to create JETNET iQ. Mr Vincent is chair of the Transportation Research Board’s Standing Committee on Light Commercial and General Aviation, and is president, RVA, a consultancy focused on aviation market research, strategy, and forecasting. Contact him via
[email protected]
reached the low point in the current business cycle, up from just 15% one year ago. The drop in sentiment occurred in Q1 2019 and continued in Q2 2019, and is likely a reaction to a confluence of developments over the past several months that have destabilized economic activity. These include: • A sharp stock market correction at the end of 2017; • The 35-day partial shutdown of the US Federal Government; • Seemingly endless back-and-forth volleys in what has become an escalation and expansion of tensions between the US and several of its largest trading partners, including China, Europe, Canada and Mexico; • Hostilities towards Iran, Venezuela and most recently Turkey; and • The mess that is Brexit which continues to fuel uncertainty on both sides of the Channel with the two leading candidates to replace UK Prime Minister Theresa May both vowing to pursue divorce from Europe at almost any cost, including a ‘hard Brexit’. The latest forecasts of 2019 GDP growth in the US and Europe have been scaled back. As of its early July forecast update, The Economist’s poll of forecasters reset US GDP growth to 2.2% in 2019, while Germany’s economy is expected to expand at just 0.8%, with France (at 1.2%) and the UK (at 1.3%) not faring much better. US after-tax corporate profits closed out 2018 above $2tn on an annualized basis, an unprecedented level that continues into 2019 based on the latest information from the US Bureau of Economic Analysis. Generally speaking, companies are continuing to allocate a significant proportion of these proceeds to share buybacks and dividends, which is fueling stock prices. The lofty trajectories of bellwether US stock market indices, including the Dow Jones Industrial Average and S&P 500, apparent favorite metrics of US President Donald www.AVBUYER.com
Trump, are bright on the radar as investors weigh these positive indicators against other developments, including slowdowns in international trade and investment, and an inverted yield curve in the US Treasuries. Historically, yield curve inversions, where the interest rates offered for short-term bonds are higher than for the benchmark 30-year US Treasury bond that matures in 30 years, have preceded the last seven US economic recessions, including the most recent four recessions in 2007-2008, 2001, 1991 and 1981-1982.
What Does This Have to do With BizAv?
Investment, trade, and travel decisions are tightly linked with the sentiment of business leaders, high net worth individuals and their families – many of whom remember only too well the horrors of the 2008 worldwide financial crisis and its immediate and longer-term aftershocks. The risk of a US recession is now on an increase, ironically just as the nation’s economy extends its record-length expansion. A June 7-12, 2019 poll of economists published by Bloomberg suggested that the risk of a US economic recession in the next 12 months has risen from 25% to 30%. Excluding the 12% who were uncertain, fully 18% of respondents to JETNET iQ’s Q2 2019 Survey of business aircraft owners and/or operators in 59 countries ‘strongly’ agreed with the statement: “I believe that there is an increasing risk of a global economic slowdown in the next 12 months”, while a further 47% were ‘somewhat’ in agreement. Naysayers might be quick to point out that simply talking about the possibility (let alone the probability) of a recession does little but encourage its eventual onset. While there may be some dark logic to that approach, our view is that business aircraft buyers and sellers are already factoring in the potential for changes in the market, especially with exogenous factors like Brexit and another highly contentious US Presidential election already in play. MI www.navigating360.com
AVBUYER MAGAZINE Vol 23 Issue 8 2019
19
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MARKET INDICATORS
AVBUYER.com
Flight Activity - North America TRAQPak’s review of Year-over-Year (YoY) flight activity indicates that June 2019 recorded a decrease of 0.5% compared to June 2018. Flight activity also posted a Month-over-Month decrease to finish down 4.2% from May 2019… The results by operational category, YoY, were mixed with Fractional activity posting the only increase from June 2018. Part 91 activity cooled for the period to record a drop while Part 135 activity declined for the thirteenth straight month. The aircraft categories were mostly negative with Mid-size Jets posting the
Flight Activity – Europe
only increase from 2018. Large Jets posted the largest decrease.
Month over Month
Results by operational category were all negative compared with May 2019, with Part 91 flight activity posting the largest decrease. Aircraft categories were also down for the month with Large Jets posting the largest decrease.
Forecast for July Activity
TRAQPak analysts estimate there will be a 1% increase in overall flight activity Year-over-Year in July 2019. MI www.argus.aero
JUNE 2019 vs JUNE 2018 North America Flight Activity
PART 91
PART 135
FRACTIONAL
ALL
TURBOPROP
0.0%
-0.4%
-9.9%
-0.6%
LIGHT JET
0.5%
-8.8%
7.9%
-1.9%
MID-SIZE JET
-3.9%
1.0%
10.8%
1.3%
LARGE CABIN JET
-2.4%
2.8%
-17.3%
-2.0%
ALL
-1.2%
-1.6%
5.0%
-0.5%
JUNE 2019 vs MAY 2019 North America Flight Activity
PART 91
PART 135
FRACTIONAL
ALL
TURBOPROP
-2.9%
0.0%
-1.7%
-1.7%
LIGHT JET
-4.7%
-4.7%
-0.8%
-4.2%
MID-SIZE JET
-6.9%
-4.3%
-5.1%
-5.6%
LARGE CABIN JET
-7.9%
-4.7%
-11.7%
-7.1%
ALL
-5.1%
-2.9%
-4.4%
-4.2%
According to WingX, 87,236 Business Aviation departures in Europe during June 2019 made it the busiest month of the year so far. But flight activity is still down in the region by 1.7% YoY. Trailing 12 month flight activity is flat for Europe… Turboprop activity was most severely impacted with flights down 6% (-9% in AOC). Business jet flights also declined 2% (charters were flat while owner-flown activity slipped). In June, Large Jet flights were up by 3.4%, with Small and Mid-size activity down 3.9%. The top market in June was France where departures gained 4% YoY. Flights out of the UK fell 6%, and slumped 11% in Germany. Another key market, Spain, saw departures grow 9% YoY during July. YTD, activity in France remains down 1%, while the UK, Germany and Switzerland have recorded declines ranging between 3% and 5%. Charter/AOC activity fell sharply in the UK, Germany and Switzerland, but gained 5-10% in Spain, Netherlands and Greece. Private flights, meanwhile, were well up in Belgium and Spain but well down in Germany and Russia. Although Business Aviation traffic was down 2% within Europe in June, flights to North America and Latin America were up 5% and 23% YoY, respectively. “All but one month this year so far have seen declines in flight activity compared to last year, with the first half of 2019 some 2% down on 2018,” Richard Koe, managing director, WingX summarized. “Clearly this reflects the gloomier macroeconomic picture, with Germany´s economic slowdown and the UK´s Brexit chaos reflected in significant declines in flight activity from both countries. “Much of the Charter market is up for grabs in the next two months, and suppliers will be hoping that some early summer growth in hotspots like Mykonos, Ibiza and Nice are signs of that demand staying robust through the third quarter of the year.” MI www.wingx-advance.com page 22
Understanding the Business Aviation Market - with AvBuyer
20 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
www.AVBUYER.com
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AVBUYER MAGAZINE Vol 23 Issue 8 2019
21
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MARKET INDICATORS
AVBUYER.com
Jetcraft Expands on Market Forecast Having released its Five-Year New & Pre-Owned Business Aviation Market Forecast recently, Jetcraft’s Chad Anderson provided a further breakdown of the findings… The findings within the Five-Year New & Pre-Owned Business Aviation Market Forecast showed that our industry will continue to grow in size, scale and strength over the next five years, hitting nearly $30bn in revenue annually by 2023. “This is the first time a value like this has ever been assigned to the industry,” Anderson notes. “We also expect to see the Business Aviation fleet grow by 12.1% in that timeframe.” The forecast also predicted continued and significant growth in the pre-owned industry, with an expected 11,765 transactions over the next five years, totalling $61bn in value. “By 2023, we forecast four times as many pre-owned transactions vs. new deliveries,” Anderson elaborates, “primarily due to the growing value proposition of these aircraft. “Maintenance capabilities are increasing, and we’re seeing greater accessibility, rapidity and cost-efficiency of high-quality refurbishment. This is resulting in higher demand for older or out-of-production aircraft, including amongst buyers who previously exclusively bought new models. “Our forecast reveals that the average aircraft retirement age is now 32 years – nearly a decade older than previously thought.” A continued shift towards large aircraft types in both new and pre-owned markets worldwide has also been seen. “Buyers are looking for larger and
Cirium shared the perspectives of senior analyst Daniel Hall recently about business jet values. Following are his key observations… •
Business jets are depreciating assets – but there is far from an accepted approach on how to deal with residual value forecasting.
•
Value retention is dynamic. Cirium’s analysis using actual market values (rather than list prices) tells us that five-year-old business jets have averaged at 61% value retention from their original value when new. Since 2012, this has translated to 9.4% depreciation per annum in years 0-5; preliminary 2019 data shows a marked improvement in Small and Medium category aircraft.
•
The overall health of the business jet market has improved by some metrics, one of which pertains to values. A strong 2018 resulted in just a 3.5% YoY decline in Current Market Values from 2018 to 2019. However, the volatile past five years cannot be ignored when projecting residual values in absence of other methods.
•
The concept of Base Value is an important tool for financiers and lessors to manage their future asset risk. It has been stated that “residual values are flattening out now as a result of the market pickup”. This is an extremely risky approach to take. This analysis illustrates examples of this and discusses the concept of a balanced market.
•
The analysis further substantiates the need to use external and impartial sources to validate the internal analytics being conducted to support investment decisions. Aircraft value forecasts are a cornerstone of any asset risk strategy. A prudent investor would be wise to take a range of opinions from more than one source.
Chad Anderson
longer-range models and as a result of this, manufacturers are focusing on producing aircraft almost entirely in the Mid-size segment and above,” Anderson notes. New unit deliveries are predicted to stay flat throughout the forecast period whilst generating higher revenues, due to the increase in large aircraft transactions. “Over the next five years, we’ll see many more customers turn towards Large Jets rather than Light Jets, as the needs of business travellers evolve on a more global scale,” Anderson projects. MI www.jetcraft.com/knowledge/ market-forecast
Interpreting the Business Aviation Market with AvBuyer 22 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Observations on Business Jet Values
MI www.cirium.com
page 24
www.AVBUYER.com
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MarketIndicators Aug19.qxp_Layout 1 16/07/2019 11:36 Page 5
MARKET INDICATORS
AVBUYER.com
In-Service Aircraft Values & Maintenance Condition
Table A
Fleet Maintenance Condition $ Million
5.35
$1.40
5.25
5.15 A
S
Quality Rating
O
N
D
J
F
Maintenance Exposure
M
A
M
J
Quality Rating Trendline
Table B LOW RISK AIRCRAFT MODEL ETP RATIO Citation Latitude G650 Citation CJ4 525C F900EX EASy F2000LX Phenom 300 Citation Encore + CL605 Pilatus PC-12 G450 F2000EX EASy Citation Sovereign 680 Hawker 900XP F900DX Citation CJ3 G550 Piper Meridian G150 CL300 Citation CJ2+ 525A Citation XLS (MSG3) Citation XLS Citation Encore Global 5000 Citation CJ2 Citation Mustang 510 Global XRS F900C KingAir 350 - Post-2000 GV F900EX Phenom 100 Hawker 850XP Learjet 45XR Citation Excel 560XL KingAir B200 - Post-2000 F900B Embraer Legacy 600 F900
Inventory Fleet Maintenance Condition
Fleet asset quality deteriorated for the second consecutive month, posting a 0.3% decrease in June, although the Q2 ending figure was an improvement over Q1. Maintenance Exposure improved 3.1% for the month (and 1.1% for the quarter) signifying more maintenance events will be coming due to the inventory fleet but their average cost will be somewhat lower. Overall, the tracked inventory posted the following figures: Quality Rating: Only slightly better than the 12-month worst figure, with the Rating remaining within the ‘Very Good’ range after decreasing from 5.212 to 5.196 on Asset Insight’s scale of -2.5 to 10. Maintenance Exposure: The figure was $15k better than the 12-month average as Maintenance Exposure (an aircraft’s accumulated/embedded maintenance expense) decreased to $1.4m from May’s $1.45m.
Maintenance Exposure to Ask Price (ETP) Ratio
The ETP Ratio is a useful indicator of an aircraft’s marketability. It is computed by dividing the asset's Maintenance Exposure (the financial liability accrued with respect to future scheduled maintenance events) by its Ask Price. ‘Days on Market’ analysis has shown that when the ETP Ratio is greater than 40%, a listed aircraft’s time on the market increases, usually by more than 30%. During Q2 2019, assets whose ETP Ratio was 40% or more were listed for sale 71% longer on average than aircraft whose Ratio was below 40% (226 versus 386 Days on Market). June analytics also revealed that over 52% of all tracked models, and nearly 62% of Asset Insight’s tracked fleet, posted an ETP Ratio above 40%. The tracked fleet’s ETP Ratio improved in June, decreasing to 65.4% from May’s 69.8%. For the first time ever, Large Jets posted the lowest (best) ETP Ratio at 52.5% (which was also the group’s 12month best figure), followed by Turboprops setting the
24 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
$1.35 $1.30
J
$1.45 $1.40
5.196
Asset Insight’s latest market analysis covering 96 fixed-wing models and 1,680 aircraft listed for sale was conducted on June 30, 2019 and revealed a 1.6% inventory increase to the tracked fleet (+27 units). Here are the details… Large Jets posted the largest percentage increase (5.9%) while Medium Jets and Turboprops each registered a 1.2% increase. By contrast, Small Jet inventory decreased 0.5%. Ask Prices for the tracked fleet decreased 1.1% in June but the figures were up 0.7% for Q2. All four groups averaged a lower Ask Price in June, but Medium Jets were able to end Q2 with a higher figure than Q1.
$1.50
3.0% 4.4% 12.4% 12.7% 13.1% 13.3% 13.8% 14.7% 14.7% 14.8% 15.1% 17.0% 19.7% 19.7% 19.8% 20.8% 20.9% 21.0% 22.7% 23.3% 25.4% 26.1% 26.1% 26.8% 28.8% 28.9% 29.1% 29.4% 29.9% 31.3% 31.6% 32.3% 33.4% 34.9% 35.1% 35.7% 36.4% 37.7% 38.4%
HIGH RISK AIRCRAFT MODEL ETP RATIO Citation CJ1+ Learjet 60XR F50EX Hawker 400XP KingAir 350 - Pre-2001 CL604 Citation Bravo Piaggio P-180 II Premier 1A G200 KingAir B200 - Pre-2001 Learjet 45 w/APU KingAir 300 F2000 GIV-SP (MSG3) Hawker Beechjet 400A Citation V Ultra Learjet 45 Hawker 800XP Premier 1 GIV-SP Global Express Learjet 55C Piaggio P-180 Hawker 1000A Learjet 60 Citation V 560 Citation ISP Citation II F50 Learjet 31 G100 GIV KingAir C90 Citation VI CL601-1A CL601-3R Hawker Beechjet 400 Learjet 55 Learjet 35A Hawker 800A CL601-3A F20-5
41.3% 42.2% 43.2% 44.4% 44.4% 45.0% 46.4% 47.4% 48.8% 48.9% 51.3% 52.3% 53.5% 57.1% 60.3% 63.7% 64.9% 65.9% 68.7% 71.9% 81.0% 81.1% 86.5% 87.9% 93.8% 94.2% 95.7% 101.6% 109.1% 109.3% 118.6% 120.7% 122.5% 124.4% 138.8% 141.0% 150.4% 151.8% 169.0% 170.3% 188.1% 211.2% 320.1%
Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of June 30 2019 Source: JETNET (www.jetnet.com) page 26
Asset Insight, LLC (www.assetinsight.com)
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MarketIndicators Aug19.qxp_Layout 1 16/07/2019 11:36 Page 6
MARKET INDICATORS
Large Jets Ask Price vs. Maintenance Exposure
Asset Quality Rating
$ Millions
Scale -2.500 to 10.000
$ Millions
group’s all-time highest (worst) Ratio at 56.6%. Small Jets were third with a Ratio of 68.8% while Medium Jets improved slightly, decreasing to 75.2%.
Market Summary
Following three consecutive monthly increases, average Ask Prices decreased in June to just above the 12-month low figure. At the same time, asset availability rose to four units shy of April’s year-to-date high inventory figure. While this may create some opportunities for buyers, sellers must swallow hard and quite possibly accept a price they never thought they would. Large Jets: Availability expanded by 21 units in June. Between departures and additions to inventory, the new mix has led to a 12-month high (best) Quality Rating, along with a near 12-month low (best) Maintenance Exposure figure. At the same time, the average Ask Price hit a record low figure
Medium Jets: Asset quality improved nearly one percent in June and over 2.8% during Q2, while Maintenance Exposure improved 4% and 1.4% during the same time periods. Six units joined the inventory fleet, and while all this jockeying did not dramatically improve the group’s ETP Ratio, June’s figure was at least better than the 12-month average, which will undoubtedly help some sellers. As for buyers, average Ask Price receded 1.3% in June, but the group’s values appear to be holding well with an increase of 7.5% during Q2 and 11.2% since December 2018. If you’re in the market for one of these aircraft, take care not to select a lower-priced asset at the expense of true value.
Medium Jets
Asset Quality Rating
$ Millions
5.165
5.100
Jun-19
May-19
Apr-19
5.000 Mar-19
Jun-19
May-19
Apr-19
Mar-19
Feb-19
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
26 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
$1.10
5.200
Feb-19
$1.20 $1.15
Jul-18
$2.30
$1.25
Jan-19
$2.50
$1.30
Dec-18
$2.72
5.300
Nov-18
$2.70
$1.35
Aug-18
$1.26
Scale -2.500 to 10.000
Jul-18
$2.90
Jun-19
in June, as values decreased 8% during Q2 (and -13.3% since December 2018). Sellers may not be happy, but buyers have some of the best opportunities this year to extract real value out of a deal – assuming they run the necessary analytics.
Oct-18
Ask Price vs. Maintenance Exposure
May-19
5.200
Apr-19
$3.10
Mar-19
5.300 Feb-19
$3.20
Jan-19
5.400
Dec-18
$3.30
Nov-18
5.500
Oct-18
$3.40
5.602
Sep-18
Jun-19
Apr-19
May-19
Feb-19
Mar-19
Jan-19
Dec-18
Oct-18
Nov-18
Sep-18
Aug-18
Jul-18
$10.0
$10.3
5.600
Sep-18
$11.0
$3.50
Aug-18
$3.23
5.700
Jul-18
$12.0
$3.60
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MarketIndicators Aug19.qxp_Layout 1 16/07/2019 11:37 Page 7
AVBUYER.com Tony Kioussis is president of Asset Insight. The company provides audit and valuation services and has developed a standardized Asset Grading System scale that evaluates an aircraft’s maintenance condition.
Small Jets Ask Price vs. Maintenance Exposure
Asset Quality Rating
$ Millions
$0.74 $1.95
$0.85 5.500
$0.75
5.300
Jun-19
May-19
Apr-19
Mar-19
Feb-19
Jan-19
Dec-18
Nov-18
5.100
Oct-18
$0.65
Sep-18
5.167 Aug-18
Jun-19
Apr-19
Feb-19
Mar-19
Jan-19
Dec-18
Oct-18
Nov-18
Sep-18
Aug-18
Jul-18
May-19
$1.78
$1.75
Jul-18
$1.85
$1.65
Scale -2.500 to 10.000
June continued this trend with asset quality worsening a slight Small Jets: With an aircraft inventory decrease of three units and 0.4% (2.2% during Q2), and Maintenance Exposure worsening mostly higher quality assets transacting, the Small Jets ended 2.5% (6.3% for Q2). With pricing decreasing 1.6% in June (2.4% June with some unusual figures. While asset quality worsened for Q2, and 3.5% since December), the group’s ETP Ratio rose more than 2% for the month and 3.2% for Q2, Maintenance Exposure improved 11.4% for the month (primarily due to a lower (worsened) to a record-high figure. Quality assets are still available, but they have become more anticipated cost for upcoming maintenance events) yet posted a challenging for buyers to identify with cursory analytics. 6.7% degradation for Q2. MI www.assetinsight.com ❙ Average Ask Price fell 1.2% in June, and 1.8% during Q2, and the figures for that month – while hovering around the 12-month average – was virtually identical to pricing posted in December. Maintenance associated with aging aircraft is the primary Asset Quality Rating Key cause behind these odd statistical changes, and buyers are Asset Insight analytics cautioned to focus on overall cost during their (www.assetinsight.com) planned Very Below ownership period – not just the cost of acquiring the asset. Outstanding Excellent Good Good Average Average
Asset Insight analytics (www.assetinsight.com)
5.500 or Greater
Turboprops: Year-to-date, buyers of Turboprops have focused on higher quality assets, thereby leading to a steady degradation of inventory Quality Rating and Maintenance Exposure figures.
Turboprops
$0.70
5.200
$0.65
5.100
www.AVBUYER.com
Less than 4.500
4.900
Jun-19
May-19
Apr-19
4.700 Mar-19
$0.50
4.785 Feb-19
4.800
Jan-19
$0.55
Dec-18
Jun-19
May-19
Apr-19
Mar-19
Feb-19
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
$1.40
$1.45
Nov-18
$1.45
4.500 to 4.749
5.000
Sep-18
$0.60
Aug-18
$0.65 $1.50
4.750 to 4.999
Scale -2.500 to 10.000
Jul-18
$1.55
5.000 to 5.249
Asset Quality Rating
$ Millions
Oct-18
Ask Price vs. Maintenance Exposure
5.250 to 5.499
AVBUYER MAGAZINE Vol 23 Issue 8 2019
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Jetnet Aug19.qxp_Layout 1 16/07/2019 15:32 Page 1
JETNET >>KNOW MORE
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What Were the JETNET iQ Summit Highlights? (Part 1 of 2) 2019 marked the ninth year of the JETNET iQ Summit. Mike Chase details some of the highlights in his latest JETNET >>KNOW MORE industry review…
ore than 150 attendees, panelists and moderators were present for the recent JETNET iQ summit, and the on-going theme of this year’s event was ‘Igniting ideas, provoking change!’ Each Summit is designed to ensure a dynamic, fast-paced exchange of ideas and crucial networking opportunities. The JETNET iQ Summit is an annual event featuring speakers and panelists representing a virtual ‘Who’s Who’ of Business Aviation; experts with unique perspectives on the industry’s present and future. Among those selected for the 2019 summit were analysts, bankers, brokers, wealth consultants, attorneys, sales and marketing leaders, and C-level executives.
M
supply against the strong demand? Will North America continue to lead the global demand and supply of business jet activity? These questions were only two of the many questions asked and answered during the summit. Following are some of the main takeaways from the first five of ten sessions held:
1 Industry Talent
Moderator: Rollie Vincent, Summit Co-Chair Panelist: Joseph Barber, VP of Fleet Development, Clay Lacy Aviation; Sheryl Barden, President & CEO, Aviation Personnel International; Steve Gade, VP Marketing & New Business Development, Duncan Aviation; Debbie Mercer-Erwin, President, Wright Brothers Aircraft Title/American Guaranty Trust.
About the Agenda…
The 2019 Summit had ten sessions that ran one hour each with one moderator and at least three panelists in each session. In total there were seven moderators and 29 panelists. The sessions provided a multitude of topics that stimulated the interest of all attendees. Day 1 sessions ran for a half day followed by a reception and dinner, while Day 2’s sessions formed a full day’s agenda. Each session had a prepared list of questions asked by the moderator for the panelist to answer either individually or as a group. Will 2019 business jet prices remain firm, based on limited 32 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
What Were the Main Takeaways? • • • •
The business jet industry is having difficulties recruiting and retaining talent, especially pilots and mechanics. One solution would be to extend the average age of pilots to age 68 and recruit more women. Globally, just 5.18% of commercial pilots are women, according to the Air Line Pilots Association International trade union. One European airline says it has set a target that 20% of new entrant pilots should be female by 2020. page 36
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JETNET >>KNOW MORE
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2. ‘51,000 foot’ Perspective
Moderator: Rollie Vincent, Summit Co-Chair Panelist: Ron Epstein, Managing Director, Aerospace & Defense, Bank of America Merrill Lynch; Don Pointer, Senior Director, Marketing & Communications, Dassault Falcon Jet; Dean Roberts, Market Analysis Executive – Business Aviation, Rolls-Royce North America.
What Were the Main Takeaways? • • • • • • •
There is plenty of potential to disrupt the business jet industry. In 1997 there were 11 different models. Today the number has increased to 20 Super Mid-size and larger business jet models. Fleet consolidation is needed. There are too many existing models. Supersonic business jets are coming. Urban mobility – eVTOLs are coming. Aviation is doing its part to reduce its carbon footprint. Improvement is needed in the low utilization conundrum.
Rollie Vincent & Paul Cardarelli
3. Industry Advocacy
o As many as 71% of the survey respondents agree a Supersonic Business Jet will enter the market in the future. o A majority (85%) of the respondents concur that it is safe to fly in a business jet older than 10 years. o It is widely believed that the emerging Millennial generation will have different needs. o Two slides showed the Business Jet forecast between 2019 to 2028 which included Supersonic Business Jets and Personal Jets. It showed 11 different market segments with demand for 7,803 units.
Moderator: Paul Cardarelli, Summit Co-Chair Panelist: Ed Bolen, President & CEO, NBAA; Pete Bunce, President & CEO, GAMA; Athar Husain Khan, SecretaryGeneral, EBAA.
• •
•
What Were the Main Takeaways?
Detailed flow diagrams were presented: ‘How to obtain FAA and EASA Type Certificates’. Business Jets currently in the certification process are: o Bombardier Global 6500 o Dassault Falcon 6X o Gulfstream G600 o Cessna Citation Longitude o An additional three turboprops, two helicopters and one tilt-rotor aircraft are in the certification process. GAMA highlighted how it established an Electric Propulsion & Innovation Committee (EPIC) in 2015 with 11 member companies. In 2019 the list of member companies has grown to 80.
4. JETNET iQ State of the Market Insights and Forecast
5. Topic: Wall Street Perspectives
Moderator: Rollie Vincent, Summit Co-Chair Panelist: Noah Poponak, Senior Equity Research Analyst, Aerospace and Defense, Goldman Sachs; Seth Selfman, Aerospace & Defense Analyst, J.P. Morgan Securities, LLC; David Strauss, Managing Director, U.S. Equity Research – Aerospace & Defense, Barclays Capital Inc.
What Were the Main Takeaways? •
Presented by: Rollie Vincent & Paul Cardarelli, Summit Co-Chairs
What Were the Main Takeaways? •
•
A chart was shown illustrating that Over-Supply and Demand have been very much out of balance since 2009. Currently between 1,000 and 1,400 too many jets have been produced. Small and Mid-size Jets are the worst segments – and since 2015 Large Cabin Jets are showing an oversupply of 225 aircraft. Replacement and low aircraft utilization are concerns o Supply: Pre-owned has the biggest challenge. Current new backlog/production are low. o Demand: Flight hours and aircraft utilization are soft; the shared aircraft economy is changing; outside the US and Europe is under-penetrated. Investors have seen little evidence of robust business jet demand. New products drive growth.
Paul Cardarelli showed eight slides from the business jet industry analysis, among which was highlighted: o GDP in the US and Europe made up 74% of the business jet fleet. o The top 20 BizAv markets (by country) showed only four countries with 3% GDP growth or higher. o The US has high profits with low business aircraft utilization. o New order backlogs are finally rebounding. o Book-to-Bill Ratios support higher 2019 deliveries.
•
Rollie Vincent showed 12 slides that covered the JETNET iQ Survey Q & A. Among the takeaways were: o Just over half of respondents (55%) believe Business Aviation is past the low point of recovery from the Great Recession.
We’ll continue our review next month with all the main takeaways from the other five topics covered at the JETNET iQ Summit.
36 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
• •
Next Month…
MI More information from www.jetnet.com
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How to get Funding for an International Jet Transaction What are industry insiders saying that will maximize your chance of obtaining financing for a business jet currently based overseas? Rohit Jaggi sets out a selection of top tips and suggestions… he good news for anyone seeking to buy a business jet from overseas, even when one of the more difficult jurisdictions is involved, is that there are finance options available. The bad news is that going down that route might be more expensive. How much? It depends…
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At the best of times private jet financing is fraught with difficulties. For lenders, the asset is moving not just physically, perhaps into jurisdictions that might pose extra difficulties (i.e. getting their hands on the asset), but also unpredictability in value as the jet ages and as manufacturers bring out newer, faster, better models. www.AVBUYER.com
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AVBUYER.com Rohit Jaggi holds airplane and helicopter licenses and frequently conducts flight tests of airplanes and helicopters for print and video. He held a number of news editing and reporting posts with the Financial Times before becoming a freelance writer. Find out more via
[email protected]
Understand What Motivates the Lender
According to Paul Jebely, who from Hong Kong leads private wealth and asset finance practice of law firm Pillsbury Winthrop, “There has without question been a very significant slowdown in business aircraft financing over the past 12 months.” Systemic uncertainty in the financial markets is making business jet lenders more cautious, he adds. But there is still a range of organizations competing to lend tens of million dollars for a jet purchase. The first is for those who don’t really need to raise the money but want to because their wealth is in illiquid assets, or because they want to park part of the risk with someone else. Private banks – the likes of Credit Suisse and UBS – might lend money for a jet because they already handle, or want to handle, your money. There was a time, not long after the financial crisis of a decade ago, that such lenders would give you $30m, say, if you had $30m with them. www.AVBUYER.com
They might have relaxed that somewhat, but as Jebely says, the best way to increase your chances of getting the funding is “acting like you don’t need the funds at all”. As he says, “a key motivator for many business jet financiers is to keep or win your business. This is most apparent for private banks that have sizeable requirements for assets under management.” These institutions, whose loan is based more on the borrower than the asset, might be a good source of funds for clued-up buyers purchasing an aircraft from a trickier jurisdiction (i.e. from some African countries), suggests Brendan Lodge, UK-based aircraft acquisitions specialist with Support Services Inc. Such lenders might also provide funds at keen rates - maybe just one or two points over Libor. And as Aiofe O’Sullivan, partner at the specialist London-based practice The Air Law Firm, points out, they prefer to keep funds separate so even if a problem arises they won’t automatically magic the money out of the funds invested with them. Then there are the more traditional aircraft lenders, such as Investec. They’re not frightened of offshore structures and will typically be offering 80% or better loan-to-value figures with competitive margins of probably 2-3% above Libor, with large corporations maybe getting a better deal. Close Brothers is also shaving its margins by taking extra special care with the loans it is underwriting. And then there are the newer funds such as Shearwater Aero Funding that are more comfortable taking greater risks in less easy jurisdictions – those that have a very different legal system, or a high corruption index, say. These lenders (which have risen in the 10 years since the global credit crisis) might be more attractive for some cross-border deals as they base their loan on the asset rather than the borrower. They want a ceiling of 60-65% of loan to value, and they will charge a higher margin of 6-8% above Libor, possibly more. But Lodge says he expects competition between the high-margin funds to bring their rates down over the next year.
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“Age and condition always matter. But jurisdiction is a key variant. ‘Some banks have a list of banned jurisdictions,’ says O’Sullivan.” Factors Impacting Ease of Borrowing
Within this broad overall lending infrastructure, which as O’Sullivan says comprises “a fairly active funding market at the moment with lots of new entrants, each with its own access point”, there are many other factors that determine how easy it will be to finance an aircraft. Age and condition always matter. But jurisdiction is a key variant. “Some banks have a list of banned jurisdictions,” says O’Sullivan. “Even overflight of countries such as Pakistan, Iraq and Afghanistan can be ruled out, making UK-India a convoluted trip, for example. “If you are Turkish and need to get back to Turkey regularly, some banks would not be interested.” This is where the higher-margin funds can come in. They may be more prepared to take on more problematic jurisdictions where a different legal system might pose a greater risk of being able to get control of the asset. Examples include Kazakhstan, Arab countries – and even Italy. But it will cost, with extra percentage points on the loan. Funds are rubbing their hands together at the prospect of funding loans for jets in some African countries at 10 points above Libor, according to one insider. And as Jebely puts it, “most of my clientele is international but I also handle deals in the US. 44 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Compared with pure domestic US financing transactions, global transactions are generally significantly more involved. This is due primarily to distinctive regulatory regimes, financial transparency habits and business cultures.” One big uncertainty is the UK’s pending exit from the European Union and how it will alter fundamental issues such as where to base an aircraft. “No one knows,” says Lodge. “We may not even benefit from the fundamental nine freedoms of the air, if there is no deal on withdrawal from the EU.” But the UK does not have a monopoly on complications. Even within the US “all states have different tax rules,” Lodge notes. All this points in the same direction, Jebely says: “I represent many ultra-high-net-worth individuals and corporate owners of aircraft, and my best advice for any buyer or borrower is ‘be advised’, especially given the complexity of these transactions and, frankly, the fact that the business jet market globally has more than its fair share of miscreants.”
Apply to the Right Lender, First Time
Both brokers and lawyers will say that the loan application must be made to the most appropriate lender the first time. “One of the biggest mistakes,” says O’Sullivan, “is to flood the market with your application. Talk to a broker, talk to us, and then we’ll
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“Think through your aircraft ownership and registration structure in advance.” advise on which lender to approach.” That should start with a healthy dose of scepticism. “Be realistic about the value of the aircraft and the consequent loan-to-value impact,” advises Jebely. ”Even in this market, it is possible that you agreed too high a price for your new or used aircraft.” It also makes sense to work out the structure you want early. Jebely says: “Think through your aircraft ownership and registration structure in advance and, ideally, have a clean and friendly enough structure in place that allows a lender to ring-fence its collateral without a restructure.” And, he adds, decide early whether you are willing to give a personal guarantee. “A personal guarantee, especially on a full recourse basis, should result in lower cost of funds.” Clarity is also key, especially if cross-border issues are already providing a cloud layer of complication. “Present financial information coherently and transparently. If there is financial information that you do not wish to disclose, say so,” Jebely adds. “Audited financial statements are always best, but not always available.” O’Sullivan adds that there are often problems in demonstrating collateral. “Make sure it’s easy,” she says.
How to Remove the Chance of Problems
And to make sure the financing goes through with no 46 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
problems, says O’Sullivan, “improve how the deal looks by picking a proper operator.” As Jebely says, “not all operators are created equal – make sure yours is professional and reputable.” By the same token, “it is best for both you and the bank that your aircraft is enrolled in an engine program,” says Jebely. Leasing is becoming more popular, says O’Sullivan, mirroring the commercial aircraft market where something like 75% of the global airline fleet is leased. “I see leases as the future for private aviation,” she says. But they are not a magic bullet. “If you think you’re getting around the residual-value issue then you’re probably not looking hard enough,” she says.
In Summary…
Overall, doing deals across jurisdictions means getting the best advice from those with expertise in those areas, whether valuers or lawyers, and making sure you know the extent of your own liabilities. O’Sullivan spends a lot of time rewriting contracts to make sure operators end up with responsibility for operating issues, rather than owners. Jebely expects the slowdown to continue “over the next 12 months at least”. That may mean relatively keen prices for aircraft. But that’s not much use if the overall deal fails to tackle some of the problems that could damage you most… T www.AVBUYER.com
AOPA August.qxp_Empyrean 17/07/2019 15:23 Page 1
Sponsored Column
How Can Borrowing More Cost Less? An AOPA Finance client recently requested a quote for financing a single-engine aircraft. He was looking to finance $70,000, and was quoted what the interest rate would be based on that figure. However, had the client borrowed $75,000 instead of $70,000, the rate would have been a whole percentage point lower, saving him money. Why is that? Many borrowers believe the way to get the best interest rate is through a large down payment and a great credit score. But actually the No. 1 factor in determining the interest rate offered on a loan is the amount of money being lent. Lenders structure each loan around a credit matrix. The matrix is comprised--among other things--of ranges of loan amounts, the loan-to-value (LTV) ratio, an individual's total financial picture, and least of all, that person's credit score. Lenders group loans into "buckets," or ranges of loan amounts. For example, in the case of our client, one range included loan amounts from $50,000 to $74,999. Additionally, each range of loans has a default initial interest rate associated with it. In this case, the lender's next higher range had an interest rate one full percentage point lower associated with it. This client had said a top priority of his was to get the lowest possible interest rate. Therefore, we knew if our client had the flexibility to increase his loan by $5,000, it would put him in the higher range, where the default lending rate was better. Initially, he saw increasing the loan by $5,000 as beneficial only for the lender. We pointed out that this lender also had a loan structure that allowed for additional prepayments without penalty. If our client was willing to hold back $5,000 of his down payment and increase the loan to $75,000, he could, on Day 2 of the loan, take that held back $5,000 and apply it immediately to the principal. That would get him back to $70,000 on the loan while maintaining the lower interest rate of the $75,000 loan, thus saving him money. That’s one example of how borrowing more can cost less.
purchased. Generally, an LTV of 80%-85% is deemed an acceptable risk. LTV requirements are most frequently influenced by the aircraft and how quickly it is likely to depreciate. In other words, LTV requirements may be applied on a sliding scale. Generally, the more quickly a plane is likely to depreciate, the more money down or lower an acceptable LTV and vice versa. Additionally, by putting even more money down and thus lowering the LTV you can frequently gain better interest rates and terms. The last, and least important, component of the credit matrix is one's credit score. Despite what retail financial institutions and credit reporting agencies pushing credit protection products advertise in the media, credit scores for aircraft loans have only a small influence on how lenders determine a loan's interest rate. The difference between a good credit score and a great credit score might be a mere quarter of a percent. It’s a lousy credit score that will hurt the most. A poor credit score may cost the borrower a full percentage point, or the loan itself. Ultimately, obtaining the best loan for you is about providing you the best perspective on all aspects of it. AOPA Finance brokers stand ready to share the kind of knowledge, nuance and expertise that can navigate you to the best loan for your situation. Great rates. Great terms. Helpful and responsive reps. Three good reasons to turn to AOPA Aviation Finance when you are buying an airplane. If you need a dependable source of financing with people who are on your side, just call 800.62.PLANE (75263) or go online to request a quote.
By Adam Meredith President of AOPA Aviation Finance Company
Loan-to-value (LTV) is the second-most important element in constructing the credit matrix. LTV is a financial term used by lenders to express the ratio of a loan to the value of the asset
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FINANCE
How Does an Aircraft Lease Work?
52 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
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AVBUYER.com Dave Higdon is a highly respected aviation journalist who has covered all aspects of civil aviation over the past 36 years. Based in Wichita, he has several thousand flight hours, and has piloted pretty much everything from foot-launched wings to combat jets. Contact him via
[email protected]
What is an aircraft lease, what are the options available to lessees, and what are the advantages and considerations relating to selecting the right type? Dave Higdon asks Tony Bergeron and Frédéric Larue of Echo Aviation Leasing Corp. ou only need to have spent a little time around aviation to recognize the varied iterations of flying, including agricultural, business, personal, recreational, and sundry specialty utility operations. And then there are the variety of airplane types within a segment which also range widely (nowhere more so than within General and Business Aviation). Similarly, the mechanisms available for accessing Business Aviation vary significantly, whether traditional ownership, fractional ownership or charter. Again, when you drill down into each ownership type, you find further options – including aircraft leasing (in the case of whole aircraft ownership), which brings with it additional considerations. What is an aircraft lease? What are the choices and benefits associated with it, and how does it work for aircraft operators? We spoke with Frédéric Larue and Tony Bergeron, Business Aviation veterans and partners at Montreal-based Echo Aviation Leasing to learn more…
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A Leasing Primer
Aircraft lessees tend to choose one of two options available: A dry lease, or a wet lease. “A wet lease (also known as an ACMI lease) is a structure where the owner or lessor of the asset provides the aircraft with the entire crew, maintenance and insurance to the lessee,” explains Larue. “By contrast, a dry lease is a contractual agreement where the owner of the aircraft or the lessor provides the aircraft to the lessee without obligation to provide crew or preserve maintenance and insurance.” So is a wet or dry lease the best option for an operator to choose? “It depends,” Bergeron explains. “When it comes to deciding on an aircraft leasing structure, there’s no right or wrong answer. Instead, the decision should be based on the greatest added-value for the client’s missions. “In a sense, a wet lease could be said to mirror ondemand charter, except that the lessee gets the same aircraft and crew every time and a fully dedicated aircraft. However, wet leases face some limitations. They’re often used on a short-term basis (between one and 24 months). www.AVBUYER.com
Anything shorter than this would be considered an ad-hoc charter. “A dry lease, meanwhile, requires the lessee to operate the aircraft on its own Air Operator Certificate (AOC) or hire a third-party aircraft operator,” he continues. Moreover, a dry lessee often digests the costs associated with the depreciation of the aircraft. “To be worthwhile for all parties the lease should have a term of two or more years.”
Varying Constraints
Each type of lease brings its own set of limitations to the operation that an operator needs to heed. “The biggest constraint that a wet lease brings to an aircraft operator is the lack of control and the opportunity cost of maintenance and crew,” Larue explains. “A dry lease provides much more business to an operator who can provide maintenance, crew and a specific threshold for safety standards.” “To a certain extent,” Bergeron adds, “a dry lease allows an operator to provide constructive recommendations and influence a lessee’s decision with certain aspects of the aircraft.” And, according to Bergeron, “Some important factors to note include tax considerations and regulatory restrictions which can arise with any type of lease.” All these details should be covered in detail by a professional familiar with Business Aviation leasing. Such are the intricacies of any lease agreement.
Crew Considerations
The different leasing options also involve different considerations for crew, Larue notes. “Crew is considered a very important factor with leasing an aircraft, since a grounded aircraft is nothing less than a costly money pit. “With a wet lease, the owner/lessor takes care of this, whereas with a dry lease it must be arranged by the lessee.” And lessees can enjoy some flexibility in how they fill those crew seats, Bergeron explains. “Several lessees may choose to hire their own crew in order to have a fully dedicated team committed to the aircraft at all times. As a
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“A lease becomes more attractive to a corporation than a loan if the company does not need the tax write-off from the depreciation...” more cost-friendly solution, some lessees may prefer to utilize a pool of crew supplied by their management company.”
Aircraft Lease Tips & Suggestions
Operators should be aware of some of the pitfalls that accompany leasing prior to deciding on a plan of action. To begin with, a lease may have certain covenants, including geographical restrictions and prohibiting commercial operations if the primary use of the aircraft is for corporate travel (Part 91), Bergeron notes. Moreover, aircraft leases often have a maximum number of permitted annual flight hours, with an additional per-hour utilization fee, Larue adds. “That could become very costly – as could an early termination of a lease.” Regarding dry leases, Larue highlights the importance of a pre-lease inspection, using an aircraft maintenance expert to examine and correctly inspect the history of the aircraft and maintenance schedule. “The goal is to ensure no major checks or inspection items become due during the term of the lease,” he clarifies. “Those events could result in a lengthy downtime and a high cost for an idled, leased asset.” Finally, be mindful of any 'return conditions' terms in the lease. “We highly recommend taking the time to analyze this clause in a lease agreement and be sure that it makes economic and financial sense to all parties involved,” Larue stresses.
Factors in Choosing to Lease
With the cautions detailed, Larue and Bergeron both stress the many advantages that exist for those choosing to lease an aircraft as opposed to an outright purchase. “In addition to being less capital intensive, leasing an aircraft also shifts the residual value of the aircraft to the lessor,” Larue notes. “A lease becomes more attractive to a corporation than a loan if the company does not need the tax write-off from the depreciation,” Bergeron adds. “An aircraft in the US can be written off by a company to zero value for tax purposes in eight or fewer years. If during this term the company expects significant profits, the tax depreciation of the aircraft is one way to protect those profits. “There are also some important accounting considerations, such as an off-balance sheet treatment, which may become very attractive to large corporations needing to respect certain financial covenants. “In any case, the user can still write off the lease payments as an expense,” he concludes. “The general rule of thumb is that a lease on a private jet will make economic sense for an individual or a corporation planning to fly less than 400 hours a year,” Larue summarizes. “Surpassing this number, the lessee should begin to consider an ownership structure given the adjusted lease payments for high usage and forecasted depreciation.” More information from www.echoleasing.com T
About Echo Aviation Leasing Corporation Echo Aviation Leasing Corporation is a finance and advisory firm in the aviation industry, co-founded by Canadian aviation finance entrepreneurs Tony Bergeron and Frédéric Larue. With a global presence, Echo provides value-added strategies and financing solutions to parties seeking knowledgeable advice. Since 2005, Tony and Fred have funded over $3bn of aircraft transactions. The company’s specialized asset type falls within Corporate Jets, Turboprop and Rotary aircraft. With a fully dedicated aircraft sales and acquisition team and with offices in Montreal, Vancouver and Miami, Echo offers a true turnkey solution from the aircraft sourcing to the financing, leasing and acquisition.
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Buying&Selling Aug19a.qxp_Finance 16/07/2019 12:07 Page 1
BUYING & SELLING AIRCRAFT
How to Avoid Aircraft Value Misconceptions
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Jeremy Cox is president, JetValues Jeremy LLC. Jeremy has been an aircraft broker, director of maintenance for several different companies and employed by several airframe OEMs’ independent service centers. Contact him via
[email protected]
What are some of the misunderstandings over a business jet’s value? Where are mistakes made when sellers over-value their aircraft? Aircraft appraiser Jeremy Cox offers insights… here are various areas in which a seller might overestimate the value of their business jet. Following, we’ll look at some of the main ones with the aim of correcting some of the common misconceptions in the market.
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Maintenance
When an aircraft is owned for personal use only, it’s common for most owners to keep a file on all their aircraft expenses even though none of it is deductible against taxes. Unfortunately, an attitude develops over time where the aircraft owner rationalizes that the thick file of receipts that have accumulated directly represent how much more their aircraft is worth above what they originally paid for it. This belief is misconceived and 100% incorrect. Arranging and paying for maintenance over the useful life of an aircraft merely maintains the market value. It will never ‘add’ to or increase the value of an aircraft. Conversely, if an aircraft is not properly maintained but is allowed to fall behind on its prescribed maintenance schedule its value will definitely decrease by at least the total cost of making it airworthy again.
Damage History
When considering damage history in an aircraft, any damage, including hangar rash, has three effects over time, all of which an owner needs to consider. 1. Will it Fly? First and foremost, damage is an issue of safety, structural integrity, stability and longevity. Does the aircraft still conform to its Type Certificate Data Sheet and Type Certificate? www.AVBUYER.com
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Is the aircraft structurally safe? Is it aerodynamically safe? Will it provide a full-service life?
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How Much Value Has Been Lost? What repair options are available? Did you receive adequate compensation through insurance for the loss? Do you care about a loss in value? Should you have the OEM repair the aircraft or your local mechanic (and if you do go local, will the mechanic have the required data and tools to do the repair correctly)? If you disagreed with your insurance company’s adjuster as to what your loss is, how did you contest the adjuster and prove your case to your insurance company?
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What’s the Impact on Resale? How will your aircraft be received by potential buyers in reality? Will the damage history repel a percentage of buyers because of their concerns over pedigree, safety and personal choice? How much will you have to adjust your asking price and sale price expectation?
Mandated Upgrades and Modifications
Like maintenance, sometimes an upgrade or modification will not increase the value of your aircraft if the workscope is federally mandated through an Airworthiness Directive (AD), operating rules change, or another governmental requirement. A perfect example of this is ADS-B. If you’re still not 2020-ready your aircraft is worth less than its market value until it becomes compliant. Less than AVBUYER MAGAZINE Vol 23 Issue 8 2019
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Strip & Repaint
There’s a very valid reason why the normal paint scheme of aircraft is all-over white, supplemented with up to three contrasting color accent stripes. Cheetah print or Zebra stripes are considered outlandish and are not desired by many of buyers. Therefore, an aircraft painted outlandishly is worth less by at least the cost to strip and repaint it to an accepted norm. No matter how ‘cool’ or unique your exterior paint scheme is, it will reduce the value of your aircraft in the eyes of many buyers. The same applies to aircraft interior design. No matter how ‘cool’ or unique your interior design is, it will reduce the value of your aircraft. Particularly if it comes at the expense of payload or potential seating space.
But I’m Paying for It!
six months before the deadline, buyers expect an aircraft to be compliant now. If you put your aircraft up for sale today, or if it has already been on the market a while, the market value loss (deduction) is more than the actual cost to comply, primarily because of the value of convenience being added as a further loss (discount).
Non-Mandated Upgrades and Modifications
In the case of any upgrade or modification that is desire-driven rather than mandated, it can be natural to believe that 100% of the expense to achieve the improvement will be added to the total (collective value) of the aircraft. Unfortunately, this is again completely incorrect. The best analogy to illustrate can be found in a new car purchase. Carfax states: “Our data shows that cars can lose more than 10% of their value during the first month after you drive off the lot. The amount your car is worth will just keep falling, too. According to current depreciation rates*, the value of a new vehicle can drop by more than 20% after the first 12 months of ownership.” (*market depreciation, MACRS, etc.) The standard rule of thumb used by many appraisers is a depreciation rate of 5% per year until year 10 where the added value remains at 50% as a constant. In truth, the depreciated value is 40% or less after a decade or longer. 62 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
If you’re working with a financial entity to obtain a loan for, or against your aircraft you’ll likely be told to engage an aircraft appraiser (unless the bank makes these arrangements for you). It’s your responsibility to pay for the appraiser. Sometimes this cost is rolled into the loan after the bank paid the appraiser on your behalf. Regardless, it is quite normal for the bank to instruct the appraiser to not provide a copy of the appraisal report. The bank is identified as both the client and the intended user of the report and even though you paid for it, you are not an intended user and therefore it is not disclosed to you. This is not the fault of the appraiser. If you want to see the appraisal report, then tell the bank that you must be added as an additional ‘intended user’.
In Summary…
If you’re looking for a quick (or reasonably speedy) sale in today’s used aircraft market, you’ll need to detach yourself from the outlay you made in upgrading, modifying and maintaining your aircraft during your tenure as its owner. The reality is that the more considered expenditures will have maintained the value of your aircraft – not enhanced it. When establishing the actual value of your aircraft, you’ll need to look beyond your own jet to the other offerings in the marketplace and justify how your jet offers more practical value over and above the other market offerings to attract a willing queue of buyers. ❙ More information from https://jetvaluesjeremy.com/ www.AVBUYER.com
General Aviation August.qxp_Layout 1 15/07/2019 15:10 Page 1
Jeteffect 6 aircraft August.qxp 17/07/2019 12:14 Page 1
Gulfstream G550 • S/N 5045
Gulfstream G500 • S/N 5100
Gulfstream G200 • S/N 156
Gulfstream G150 • S/N 216
Challenger 604 • S/N 5576
Falcon 50EX • S/N 313
Los Angeles Palm Beach Dallas Atlanta Virginia Beach South Carolina email:
[email protected]
• 562.989.8800 • 561.747.2223 • 214.451.6953 • 334.502.0500 • 757.821.2921 • 803.345.6000 • www.jeteffect.com
Jeteffect 6 aircraft August.qxp 17/07/2019 12:14 Page 2
Citation Sovereign+ • S/N 680-0510
Citation X • S/N 750-0121
Learjet 60 • S/N 226
Learjet 45 • S/N 131
Citation CJ3 • S/N 525B-0377
Hawker 4000 • S/N RC-40
Los Angeles Palm Beach Dallas Atlanta Virginia Beach South Carolina email:
[email protected]
• 562.989.8800 • 561.747.2223 • 214.451.6953 • 334.502.0500 • 757.821.2921 • 803.345.6000 • www.jeteffect.com
Ownership 1.qxp_Finance 16/07/2019 09:39 Page 1
OWNERSHIP
Three Myths About Business Aircraft Ownership David Wyndham speaks to people who are new to Business Aviation on a regular basis, and also hears some recurrent myths about business aircraft ownership. Following he sets straight three of the more common misunderstandings… tend to help clients select the appropriate aircraft for their flying needs and to cost out the various ways to achieve that. Along the way is the need and opportunity to educate and inform. Quite often the decision-maker is informed, but others (perhaps a board member or a CFO) are not. My first task is to listen to and understand the client’s concerns and then, after validating them, provide answers – or at least a different point of view – for their consideration. But what are some of the common myths I hear relating to business aircraft ownership? Let's dive in…
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Myth 1: You can Make Money Chartering Your Aircraft
One client operates a trans-continental business jet. When it’s in for scheduled maintenance, he often uses charter. After seeing the charter bills, however, he wanted to buy a second transcontinental business jet for his backup and to charter it while he was not flying. I worked with his aviation manager to find the break-even utilization. When accounting for the acquisition cost as well as the operating costs, there would be a need to fly over 2,000 charter hours annually. Why? There are two parts to the answer: www.AVBUYER.com
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David Wyndham is vice president of Conklin & de Decker, a JSSI Company, where his expertise in cost and performance analyses, fleet planning and life cycle costing are invaluable. He’s formerly an instructor pilot with the US Air Force. Contact him via
[email protected]
First: Charter rates are a relative bargain. While $8,000 per hour to charter a Long-Range Jet may seem like a lot, the operating expenses are significant: The variable expenses of fuel and maintenance alone average about $4,000 per hour. The annual fixed costs, including items such as crew, hangar, insurance, training and airborne internet run to $1.4m. A typical charter payback to the owner is 85% of the listed hourly rate, and the owner pays for the aircraft expenses. So on that basis, our $8,000-perhour charter provides the owner $6,800 per hour. Deducting the $4,000 variable hourly costs leaves $2,800 per hour. To accumulate the $1.4m fixed costs takes 500 charter hours. So, after that isn’t it all profit? In short, no. Our owner paid $60m for his global business jet. Current market depreciation is about 7% per year (or a loss in value of $4.2m per year). And that would require another 1,500 charter hours to make the deficit up. Hence our 2,000-hour break-even point. www.AVBUYER.com
Second: Money is not free. Our owner has a cost of capital, or an opportunity cost. If he paid $60m in cash for the jet, he can’t invest that money in his company or other ventures. If you add in a 10% return on capital, there is $6m per year in the lost opportunity of having his money tied-up in the jet. He could opt to decrease that up front with an operating lease or a loan, but then his fixed expenses increase. To verify this, look at the financial reports of the airlines: An airline needs to fly between 2,500 to 3,000 hours per year per airplane in order to make a profit. There is almost no way an on-demand charter operator can book enough charter to cover the costs of owning their own business jet. When an aircraft owner utilizes a charter operator to charter their aircraft when not in use, both parties can win. The charter operator gets the use of a business aircraft without the cost to acquire it. The owner gets some revenues to offset their operating costs
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Myth 2: You Should Focus on Only one Cost… ‘Acquisition’
Every pilot report and airplane review article mentions three things: 1. 2. 3.
Cabin and amenities; How far the airplane flies; Acquisition cost.
Whenever I do an analysis of costs, I look at the total life cycle cost. This includes not only the acquisition cost, but the operating costs, and disposition. While the acquisition cost – less the recovery at resale – is significant, the operating costs can amount to just as much over time.
Myth 3: Operating Costs are Consistent
At least a couple of times each year I have a client who is shocked when confronted with their maintenance costs. A recent situation involved the owner of a large-cabin business jet. The management company had told the owner to budget $3,500 per hour for fuel and maintenance, yet when they looked at their total expenses for 2018 those items averaged over $5,000 per hour. Working through the management company’s reports, while also running our own “should-cost” analysis, we found a cost listed under maintenance
for international travel, for which the mechanic accompanied the jet on a multi-week trip overseas. Though this was smart planning, it was not necessarily a ‘routine’ maintenance expense. The owner also had an inspection every 2,400 flight hours. They flew less than 300 hours in 2018 and averaged the cost of the 2,400-hour inspection over the 300 hours they flew, not the 2,400 hours it took to accrue the expense. In my should-cost analysis the accruals for the maintenance from Conklin & de Decker’s data, adjusting for the cost of fuel, came to approximately $3,600 (per hour) over time. In any given year, the average for that year varied from about $2,400 to over $7,000 per hour. The bottom line is that maintenance costs are cyclical. Unless you are on a guaranteed hourly maintenance program provided by the OEM or a third-party provider like Jet Support Services, Inc., the cost in any given year can fluctuate greatly.
In Summary…
All of the above misconceptions can be cleared up by listening, explaining and budgeting correctly. It also helps to have someone who understands both the costs and the operation to assist in the understanding. More information from www.conklindd.com ❙
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Corporate Concepts August.qxp 17/07/2019 15:36 Page 1
Corporate Concepts International, Inc. Boeing 737-300 VIP Sale, Lease, ACMI • Never a commercial airliner – Low total time • 42 passenger VIP interior – Forward Airstair • Long range fuel – 7.5 hour range • Engines enrolled in GE On-Point • High Speed Internet, FANS-1/A, CPDLC, and ADS-B for 2020 • Winglets – Stage III Noise certified • Confidentiality agreement, full details and photos and sales price upon request
2012 Phenom 300 For Sale or Lease – Financing Available • Engines Enrolled on JSSI - 100% • Airframe Enrolled in EEC • Fresh 12 month inspection • Eight Passenger w/ Increased Gross Weight SB • Less than 2,100 Hours Total Time • High Speed Internet and Electronic Charts • New Reduced Price - $5,895,000
VVIP Boeing 737 • Always VVIP B-737 – Only 7,500 hours • For Sale or Lease – Trades Considered • Recent Interior / Exterior Refurbishment with new generation Cabin Mgmt System • High Speed Internet, CPDLC, FANS-1/A, ADS-B, Synthetic Vision and EVS • Stage III compliant JT8D-17 engines • Long Range Fuel – Extensive Spares Pkg.
Photos and Full Details at www.flycci.com
Dennis Blackburn +1.832.647.7581
[email protected]
Larry Wright +1.704.906.3755
[email protected]
Chris Zarnik +1.919.264.6212
[email protected]
Also Available – Off Market DC8-72 VVIP, Eurocopter EC-155B1, Gulfstream G-V Coming – 2008 Gulfstream G-200 & Falcon 50 with -4 engines and Proline 21
Rolls Royce August.qxp_Empyrean 18/07/2019 10:01 Page 1
Sponsored Column
Raising the bar for engine in-service support One of the key variables to consider when purchasing a business jet is whether to enrol the aircraft on an engine maintenance program. Ultimately, this important decision can significantly impact the overall cost of ownership. To maximize a business jet’s availability, residual value and sales liquidity, an aircraft needs a robust yet simple engine service offering - something Rolls-Royce has perfected with over 60 years of Business Aviation experience.
With over 170 customers already enrolled in CorporateCare Enhanced, the maintenance program is proving successful. “The program was developed with the mindset of, ‘if we provide it, we cover it’” said Alan Mangels, Rolls-Royce VP Sales & Marketing—Business Aviation. “Our customers love that. By listening to them, we continuously strive to improve our service solutions, which ultimately raises the bar for the entire industry.”
Introduced at NBAA 2018 and officially launched at the beginning of this year, CorporateCare® Enhanced is the new standard of Rolls-Royce’s market-leading and industry recognized CorporateCare program. The improved service package enhances the comprehensive fixed-cost maintenance program for business jet customers by covering a wide range of additional service items, including unlimited troubleshooting and mobile repair team travel costs. For the BR710, BR725 and new Pearl® 15 engine, it also covers maintenance for the whole power-plant, including nacelle, engine build-up and thrust reverser unit. Coverage is comprehensive, including corrosion and access to a large spare parts loaner pool to support operators during potentially lengthier repair tasks. Combined with Rolls-Royce’s extensive global support network of 77 Authorised Service Centers, CorporateCare Enhanced provides 24/7 service from its Aircraft Availability Center in Germany, ensuring faster response times and reduced aircraft downtime, no matter where you are in the world.
As the market-leading engine supplier in Business Aviation, Rolls-Royce powers over 3,000 business aircraft in-service. More than 2,000 aircraft are covered by CorporateCare around the world, and over 70 per cent of new delivery aircraft powered by Rolls-Royce engines are enrolled. In the air or on the ground, Rolls-Royce is getting you the very best for your time machine.
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Learn more about Rolls-Royce Business Aviation and CorporateCare Enhanced at www.rolls-royce.com
www.AVBUYER.com
It’s time to consider CorporateCare® Enhanced. We offer our customers the industry’s most comprehensive global service network and leading edge digital tools, all focused on getting you to your destination as planned. It’s time to protect your most precious resource. For more information, email
[email protected] The future. Rolls-Royce.
© Copyright Embraer 2018. All rights reserved.
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How to Control Your Aircraft Fuel Costs Are fuel costs a significant part of your flight operation? What are the best strategies for controlling them? Aviation director Andre Fodor offers his top tips … he purpose of a well-organized flight department budget is to identify the cost centers that most impact your bottom line, and to assess ways to improve, modify or optimize how the money is being spent. In previous consulting engagements I’ve been asked to assist with trimming a flight department’s budget enabling it to become a leaner, more efficient operation. Frequently it boils down to a lack of understanding of the expense structure and a ‘pay-as-you-go’ approach that led the managers to overlook the higher cost centers and instead focus on those that yield poorer savings. For example, fuel purchases can account for 51% of an operation’s expenses. Having diligently accumulated years’ worth of data on fuel burns for
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every leg flown, the total gallons used Year-to-Date, and the vendors from whom the fuel was purchased, our flight department is able to monitor fuel price trends and select the provider offering the better overall pricing. In any flight operation, fuel is a significant expense. As we consider some of the tactics that can be employed to help reduce the costs of fuel, it’s important first to touch upon two important components of a fuel management program.
Does Tankering Guarantee Savings?
Tankering offers operators valuable opportunities to make fuel savings. When flying to a major metropolitan airport, for example, tankering from your home base where you presumably have
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preferred pricing, may save you money. In our case, it can save up to $3 dollars per gallon. In some European countries, the mineral taxes can easily double the total cost of the fuel, and tankering becomes a necessity. But beware. There is a point of diminishing returns and tankering can cause a significant increase in fuel burn and the missed opportunity of having ramp fees waived with a fuel purchase. Some nations also frown on tankering, and you may be penalized or taxed on excessive fuel remaining in your tanks. So, if you are to enjoy the cost savings of tankering, you’ll need to plan ahead for each flight you make, ensuring that the savings from tankering really do outweigh any taxation or waived ramp fees, for example.
Finding the Fuel Burn Flight Profile Sweet Spot
A fuel burn flight profile is a managed approach to aircraft operations where you determine the sweet spot for different flights. For example, a positioning leg may be flown at a slower long-range cruise speed, while an occupied flight is flown at highspeed cruise on short domestic legs and intermediate speeds on international long haul. You can get quite sophisticated with your fuel burn flight profile, adding items such as engine reserve costs into the mix. 76 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
“There is a point of diminishing returns and tankering can cause a significant increase in fuel burn and the missed opportunity of having ramp fees waived with a fuel purchase.” The Role of Fuel Cards
If you are a flight operation that shows up at the FBO and pays retail price for your fuel, thank you! You are leaving the breadcrumbs for me and other savvy operators to benefit from. If you’d rather not put money into our pockets, then you’ll need to think more carefully about fuel cards. In my flight department we subscribe to no less than four fuel cards. But how did we come to the decision on which cards we’d add to our arsenal of operating cost control? First, we check with the fuel card providers which www.AVBUYER.com
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one buys us the cheapest fuel and at which FBO facility. Based on this, and assuming the FBO is capable of the level of service we expect, we will call the front desk at the FBO, explain our operation and request their current retail costs and whether they can give us any other advantages or discounts. If you haven’t tried this before you’ll probably be surprised at how, simply by asking, you can realize some valuable savings. From there, we typically request a fuel release and will use it for all charges in order to expedite our turns. On overseas trips, our international trip planning provider will use all our fuel card accounts and will leverage their buying power through their own fuel card providers to identify the best fuel savings for us. The trip planning provider we work with knows this is an important component of the service they provide us.
Additional Fuel Card Benefits
Adding to the benefits of buying fuel though card services is that some will handle the VAT refunds for you. Whenever this is applicable it can yield you valuable savings. If you are a large operation the total savings here can become very significant. One more form of fuel leveraging that has yielded success is via Fuel Buying Associations. In the US, one membership costing $500 per year www.AVBUYER.com
yielded savings on its first use that literally covered the membership costs for the next two years. Membership often takes us to FBOs that charge nothing for parking, and we ultimately buy ‘courtesy fuel’ while taking full advantage of better pricing somewhere else.
In Summary…
Though my flight operation has several fuel cards, we do try to concentrate most of our purchases with one provider. Their pricing is typically the best, and by concentrating those purchases with one company we have greater bargaining power to negotiate better fuel discounts as a ‘preferred’ customer. All the above actions could represent money saved on your annual budget; yield enhanced benefits for your principal; provide better job security for you; and give you the satisfaction that you are successful in the stewardship of your operation’s cost. All in all, that’s a job well done! T With a focused approach on global excellence and creativity, Andre Fodor has managed flight operations for the U.N. and Flight Options as well as being a senior demonstration pilot and instructor for Embraer Aircraft. He is the Aviation Director for his current employer.
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OWNERSHIP Dave Higdon is a highly respected aviation journalist who has covered all aspects of civil aviation over the past 36 years. Based in Wichita, he has several thousand flight hours, and has piloted pretty much everything from foot-launched wings to combat jets. Contact him via
[email protected]
Are you Using the Best Airports you Can? Just because you’re a regular traveler to certain airports doesn’t mean you’re using the best ones available to you. Dave Higdon provides pointers as to why yesterday’s ideal choice may no longer be the best fit for your mission need… ld habits die hard. In fact, some habits become more deeply embedded thanks to the convenience of the electronic devices we use. Take, for example, the mobile phone. Today, we tend to rely on our phones to bring up a number, rather than commit that number to memory as we once may have done. It’s the same in aviation. Pilots using digital flight planning programs – whether on a smartphone, tablet or desktop – often enter the designators for airports frequently used when travelling to a city or region. While electronics do help reduce the time and effort of planning a flight, there remains a danger that after a while pilots don’t revisit the parameters often enough that were once factored into a choice of airport at a regular business destination. Meanwhile, things change. Sometimes they change to a point that an airport that once presented itself as the best option is no longer the most convenient or cost-effective. It’s good
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practice for flight operations to consider the possible variables for the next flight-planning exercise and reassess whether the airports currently used are still the best choices.
Airport Runways & Landing Systems
Airports change – sometimes dramatically. When was the last time you reassessed all the options available at your regular destinations to see which airport facilities have upgraded their runways and landing systems? An airport too small a few years ago may have increased its runway length to become a viable option. Conversely, runway lengths also shrink (i.e. Santa Monica) rendering them no longer viable. And on occasion an airport might find a way to install an Instrument Landing System (ILS) giving it options in inclement weather that were previously lacking. Today the more likely scenario is that an airport gets one or more new instrument procedures using space-based navigation systems (WAAS GPS approaches). www.AVBUYER.com
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The Lateral Precision with Vertical guidance (LPV) approach, meanwhile, can go as low as 200ft at some airports with the necessary ground lighting. And other RNAV approaches add more inclement-weather capabilities yet. So, are you sure you’re up to date on the runway and landing capabilities of all the airports in the areas you fly to the most? If not, it could be worth a review.
Airborne Traffic Density
The natural tendency might have been to gravitate towards the biggest airport with the expectation that these offer the best variety of service options. However, that is not always the case in practice... While the biggest may indeed offer the greatest depth of services, other smaller airports in the area may still offer a workable combination of what you need. As an example, the busiest airport in an area may also be saturated with commercial flights, toward www.AVBUYER.com
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whom the airport organizes its operation. Dealing with the airline traffic may add time and complications to your arrival and departure plans. And while it’s true that many airports with airline service only suffer with capacity challenges at certain times of day, that still restricts your arrival and departure times to those slower periods. Could a change of airport provide you with more flexibility and provide the workable combination of services you need?
How About Slots?
The very existence of slots should offer a cue that it may be time to consider a different airfield at a regular destination, unless you're confident in your ability to get the slots you need (both for arrival and departure). It could be that a sporting event – such as Super Bowl or the Kentucky Derby – prompts a typically busy airport to become so trafficsaturated that the airport and its FBOs insist on
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advanced reservations before granting you permission to come to their operation. Are you factoring the impact of such events on your regular destination airports into your flight planning?
Curfews and Restrictions
The existence of locally sensitive operating limitations may not be apparent to a first-time or infrequent visitor of an airport, but this information is usually available in flight-planning programs, airport directories and in literature from FBOs based at the field. Such limitations can vary through the day and sometimes go so far as to amount to a shutdown of flight operations for some older, noisier aircraft. The airport may even close after a certain hour, making a late-night or pre-dawn departure for home impossible. Aside from the possible operational impact of local restrictions, their violation may subject the operator to a monetary fine levied by a local entity for the curfew or decibel-level deviation. Are you listening and watching for developments with curfews and restrictions at the airports you’ve traditionally used? And are you monitoring the situation at the other airports nearby?
FBO Options, Fuel Costs & Other Expenses
Have you ever landed at a large airport only to find that a different nearby airport sells its Jet A for a dollar or more less per gallon? When weighing airports it behooves you to learn how many FBOs
the field hosts, as well as FBO options at other candidate airports. And speaking of FBOs, you should be particularly attentive to fuel costs at any airport offering only one. The lack of competition too often leads to above average fuel and service prices. And, on the subject of FBOs, enquire whether your candidate fields' FBOs charge a service fee or impose a minimum fuel purchase as the cost of using their facilities. It's too common for an FBO to charge a hefty fee for the privilege of stopping your engines long enough to drop off a passenger.
Catering
Depending on the market, a city with more than one airport often offers catering service through the FBO (with food prepared by a restaurant or other entity off the field). The typical business aircraft operator should be familiar with the logistics of selecting, ordering and taking delivery of food for a flight. But, again, depending on the market, the catering options may be more limited in some small markets than in those with multiple airports from which to choose.
In Summary…
From the above touchpoints, it should be clear that there are plenty of reasons to regularly check all of the airport options available to you – especially in the areas your Business Aviation operations frequent. It could pay handsomely to check around when you discover that yesterday’s best choice airport may not match today's needs. ❙
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Boutsen August.qxp_Layout 1 15/07/2019 15:16 Page 1
AIRCRAFT
2009 Airbus A319CJ - s/n 3826
FOR
SALE
1995 Avro RJ70 - s/n E1267
New to the Market!
2012 Global 5000 - s/n 9468
Deal Pending!
2011 Gulfstream G550 - s/n 5302
2010 Gulfstream G550 - s/n 5268
Deal Pending!
2003 Falcon 2000EX - s/n 0014 Deal Pending!
2011 Phenom 300 - s/n 50500068
1988 Dassault Falcon 50 - s/n 185
2007 Premier 1A - s/n RB-0196
Deal Pending!
1999 Socata TBM 700A - s/n 141
41, rue Grimaldi
1980 King Air E90 - s/n LW-329
MC-98000 MONACO
+377 93 30 80 02
www.boutsen.com
2012 Airbus EC145 - s/n 9502
[email protected]
AirCompAnalysis AUG19 updated.qxp_ACAn 29/08/2019 10:36 Page 1
HELICOPTER COMPARISON
Bell 505
Helicopter Comparison: Bell 505 versus Robinson R66 In this month’s Helicopter Comparison, Mike Chase provides information on a pair of popular single-engine turbine helicopters. How does the Bell 505 Jet Ranger X compare against Robinson’s R66? Find out here…
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ver the following paragraphs, we’ll analyse the performance of the Bell 505 and the Robinson R66 and discuss some of the key productivity parameters (including payload, range, speed and cabin size), and current market values.
Bell 505
The Bell 505 Jet Ranger X has been in production since 2015. It is a short-range, light single-engine 82 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
five-seat helicopter featuring a fully integrated Garmin G1000H glass flight deck and a Turbomeca Arrius 2R engine with dual-channel FADEC. As of May 2019, there were 179 Bell 505 helicopters in operation, almost all of which were wholly-owned. There have been three retirements from the fleet. North America had the largest Bell 505 fleet percentage (30%), followed by Asia (24%), Europe (20%) and South America (13%). www.AVBUYER.com
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AirCompAnalysis AUG19 updated.qxp_ACAn 05/09/2019 12:31 Page 2
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HOW MANY
EXECUTIVE
SEATS?
BELL 505
$1.45 Million
5
$0.99 Million
5
(2018 Model)
vs.
ROBINSON
R66
(2018 Model)
WHICH OF THESE HELICOPTERS WILL COME OUT ON TOP HOW FAST WILL I CLIMB
(Rate of climb, ft per minute at MTOW)
Bell 505 (ft) 1400
1200
Robinson R66
HOW FAR
CAN WE GO? (Nautical Miles, Tanks Full)
Robinson R66
314
HOW MUCH
PAYLOAD
1000
600
(Knots) 102
Robinson R66
109
WHAT’S THE
COST PER HOUR?
CAN WE TAKE? (Lbs)
1,370
Bell 505 800
AVERAGE
CRUISING SPEED? Bell 505
305
Bell 505
WHAT’S THE
Robinson R66
1,417
Bell 505 Robinson R66
$465 $371
HOW MANY
HOW MANY
OPERATION?
EACH MONTH?
UNITS IN
NEW/USED SOLD
400
179 200
769
0 Sources used: Conklin & de Decker, Vref, JETNET, OEM.
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10 10 (6.6%) (7.3%)
12-month Average Figure (% Global Fleet ‘For Sale’)
AVBUYER MAGAZINE Vol 23 Issue 8 2019
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HELICOPTER COMPARISON
AVBUYER.com
Chart A - Helicopter Usage Comparison - June 2019
By comparison, the R66 is Robinson's first turbine-engine model. FAA certification was received in 2010, and production continues today. The R66 is a five-seat helicopter with increased reserve power compared to its R44 stablemate, increased altitude performance, and a larger baggage compartment. At the time of writing there were 769 Robinson R66s in operation, 755 of which were wholly owned, and a further 14 in shared ownership. There had also been 27 retirements from the R66 fleet. North America was home to the largest Robinson R66 fleet percentage (44%), followed by South America (21%) and Europe (19%).
10% 10% 41%
Bell 505
41%
15%
Robinson 65% R66
6% 10% Business
Charter
Personal
Robinson R66
Other
Table A - Payload & Range Comparison
Helicopter Usage Comparison
Chart A (top, left) shows the usage of the both helicopters broken into four groups: Business, charter, personal and other. Both helicopters have a majority of usage in business operations. Charter accounts for the next largest percentage for each.
Bell 505 Robinson R66
Payload & Range Comparison
3,680
2,700
544
493
Max Fuel (lb)
MTOW (lb)
Source: Conklin & de Decker; JETNET, LLC
1,370
1,417
Max Payload (lb)
826
924
Avail Payload w/Max Fuel (lb)
1,312 1,334 1,334
Chart B - Cabin Comparison Bell 505 Jet Ranger X
Robinson R66
305
314
Tanks Full Range (nm)
The data contained in Table A (left) is sourced from Conklin & de Decker and JETNET. Potential operators should particularly focus on payload capability as a key factor, and the data shows the Bell 505’s Available Payload with Maximum Fuel (at 826lbs) is less than that offered by the Robinson R66 (924lbs).
Cabin Comparison
According to Conklin & de Decker, the Bell 505’s cabin volume measures 61cu.ft, which is more spacious than that of the Robinson R66 (50cu.ft). Chart B (left), depicting data from UPCAST JETBOOK, offers a cabin cross-section comparison, showing the Bell 505 provides marginally more cabin width (4.8ft vs 4.5ft) and height (4.41ft vs 4.33ft) than the Robinson R66. The cabin of the Bell 505 is also slightly longer (7.17ft vs 6.67 ft), though not depicted in the chart. Both helicopters offer 18cu.ft external baggage space.
Powerplant Details
Source: UPCAST JETBOOK
84 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Bell’s 505 is powered by a single Turbomeca Snecma Arrius 2R engine offering a 459shp transmission rating. By comparison, the Robinson R66 is powered by a Rolls-Royce RR300 turbine engine with 240shp.
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8
Leading Edge 6 to view August.qxp_Layout 1 16/07/2019 11:49 Page 1
2013 Challenger 300 s/n 20429
Delivered new w/ Proline 21 Advanced Avionics and Dual IRS, Engines & APU on MSP, L5 4G Wi-Fi, One Owner Since New
2013 Challenger 605 s/n 5942
10 Passenger, Forward Galley, Always U.S. Owned w/ Fortune 500 Pedigree, ADS-B Out v2, ATG-5000 Gogo Biz Internet
2004 Gulfstream G550 s/n 5025
Price Just Reduced, Low time, RRCC & MSP, Forward Galley and Crew Lav, PFD Synthetic Vision ASC 096
2007 Gulfstream G450 s/n 4098
Low Time 3,289 TTAF, Engines on RRCC, U.S. Owned & Registered Since New, FANS 1/A+, WAAS/LPV, ADS-B Out v2. TCAS 7.1
2018 Gulfstream G500 s/n 72014
ONLY Pre-Owned G500 Immediately Available in the World, U.S. Registered, Engines on P&WC PurePower Premium, APU on MSP Gold
2011 Challenger 605 s/n 5858
12 Pax Floorplan, One U.S. Owner since New, Operated & Maintained Part 135, ADS-B Out v2, FANS, TCAS 7.1
AirCompAnalysis AUG19 updated.qxp_ACAn 05/09/2019 12:32 Page 4
HELICOPTER COMPARISON
Chart C – Cost per Mile* Comparison
Cost Per Mile Comparison
Chart C (left) details the ‘Cost per Mile’ for our comparative helicopters, per Conklin and de Decker data. It factors direct costs (no depreciation) and with each aircraft flying a 200nm mission. The average US Jet-A fuel cost used for August 2019 was $4.67 per gallon. The Bell 505 shows a higher cost per nautical mile at $4.56, compared to $3.40 for the Robinson R66. That’s a difference of 25% in favor of the Robinson R66.
$4.56
Bell 505 Robinson R66
$3.40 $4.00
$2.00
$0.00
$6.00
US $ per nautical mile *200nm mission costs (no depreciation)
Total Variable Cost Comparison
Source: Conklin & de Decker
The ‘Total Variable Cost’ illustrated in Chart D (middle, left)is defined as the Cost of Fuel Expense, Maintenance Labor Expense, Scheduled Parts Expense and Miscellaneous Trip Expense. The Total Variable Cost for the Robinson R66 computes at $371 per hour, which is 20% less than the Bell 505 ($465 per hour), according to Conklin de Decker.
Chart D – Total Variable Cost Comparison
Aircraft Market Comparison
Bell 505
Table B (bottom, left) contains the used price of a 2018 model for each helicopter (sourced from Vref Pricing Guide). The average speed, cabin volume and maximum payload values are from Conklin & de Decker and JETNET, while the number of helicopters in-operation and percentage ‘For Sale’ are as reported by JETNET. The Bell 505 has 7.3% of its fleet currently ‘For Sale’, while the Robinson R66 has 6.6% ‘For Sale’. The average number of new/used transactions per month for both helicopters is ten.
$465
Robinson R66
$371 $200
$0
$400
$600
US $ per hour Source: Conklin & de Decker
Depreciation Schedule
Table B - Market Comparison Bell 505 Robinson R66
102
109
Average Cruise Speed (Kts)
61
50
Cabin Volume Cu Ft
242
260
Seats Full Range (nm)
$1.450 $.990 Used 2018 Vref Price $USm
179
In Operation
*Average Full Sale Transactions in the past 12 months; Source: Conklin de Decker, Vref, JETNET
86 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
769
7.3% 6.6% % For Sale
10
10
Average New & Pre-owned Sold*
Helicopters that are owned and operated by businesses are often depreciable for income tax purposes under the Modified Accelerated Cost Recovery System (MACRS). Under MACRS, taxpayers can accelerate the depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period (see Table C, top, right). In certain cases, helicopters may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS) where depreciation is based on a straight-line method, meaning equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are longer than www.AVBUYER.com
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AirCompAnalysis AUG19 updated.qxp_ACAn 28/08/2019 10:20 Page 5
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recovery periods available under MACRS. There is a variety of factors that taxpayers must consider in determining if a helicopter may be depreciated, and, if so, the correct depreciation method and recovery period that should be utilized. For example, helicopters used in charter service (i.e. Part 135) are normally depreciated under MACRS over a sevenyear recovery period or under ADS using a twelve-year recovery period. Helicopters used for qualified business purposes, such as Part 91 business use flights, are generally depreciated under MACRS over a period of five years or by using ADS with a six-year recovery period. There are certain uses of the helicopter, such as non-business flights, that may have an impact on the allowable depreciation deduction available in a given year. Table D (right) depicts an example of using the MACRS schedule for a 2018year model Bell 505 helicopter in private (Part 91) or charter (Part 135) operations over five- and seven-year periods, assuming a used 2018 retail price of $1.45m (per Vref). Table E (bottom, right) depicts an example of using the MACRS schedule for a 2018 Robinson R66 helicopter in private (Part 91) or charter (Part 135) operations over five- and seven-year periods, assuming a used 2018 retail price of $0.99m (per Vref).
Asking Prices & Fleet for Sale
The current used helicopter market for the Bell 505 shows a total of 13 helicopters for sale with 11 displaying an asking price ranging from $1.36m to $1.65m. We also reviewed the 51 used Robinson R66 helicopters for sale which displayed 43 asking prices ranging from $0.485k to $1.25m. While each serial number is unique, the Airframe (AFTT) hours and age/condition will cause great variations in price. Of course, the final negotiated price remains to be decided between the seller and buyer before the sale of an aircraft is completed.
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Table C - Part 91 & 135 MACRS Schedule MACRS Schedule for PART 91 Year Deduction
1
2
3
4
5
6
20.0%
32.0%
19.20%
11.52%
11.52%
5.76%
MACRS Schedule for PART 135 Year Deduction
1
2
3
4
5
6
7
8
14.29%
24.49%
17.49%
12.49%
8.93%
8.92%
8.93%
4.46%
Source: NBAA
Table D - Bell 505 MACRS Depreciation Schedule 2018 Bell 505 - Private (Part 91) Full Retail Price - Million $1.450 2
1
Year
20.0%
Rate (%)
32.0%
3
19.2%
6
5
4
11.5%
11.5%
5.8%
Depreciation ($M)
$0.290
$0.464
$0.278
$0.167
$0.167
$0.084
Cum. Depreciation ($M)
$0.290
$0.754
$1.032
$1.199
$1.366
$1.450
Depreciation Value ($M)
$1.160
$0.696
$0.418
$0.084
$0.251
$0.000
2018 Bell 505 - Charter (Part 135) Full Retail Price - Million $1.450 Year
1
Rate (%)
14.3%
2
24.5%
3
17.5%
6
5
4
8.9%
12.5%
8.9%
7
8.9%
Depreciation ($M)
$0.207
$0.355
$0.254
$0.181
$0.129
$0.129
$0.129
Cum. Depreciation ($M)
$0.207
$0.562
$0.816
$0.997
$1.127
$1.256
$1.385
Depreciation Value ($M)
$1.243
$0.888
$0.634
$0.323
$0.453
$0.194
$0.065
8
4.5%
$0.065 $0.000 $1.450
Source: Vref
Table E - Robinson R66 MACRS Depreciation Schedule 2018 Robinson R66 - Private (Part 91) Full Retail Price - Million $0.990 Year
Rate (%)
1
20.0%
2
32.0%
3
19.2%
6
5
4
11.5%
11.5%
5.8%
Depreciation ($M)
$0.198
$0.317
$0.190
$0.114
$0.114
$0.057
Cum. Depreciation ($M)
$0.198
$0.515
$0.705
$0.819
$0.933
$0.990
Depreciation Value ($M)
$0.792
$0.475
$0.285
$0.057
$0.171
$0.000
2018 Robinson R66 - Charter (Part 135) Full Retail Price - Million $0.990 Year
Rate (%)
1
14.3%
2
24.5%
3
17.5%
4
12.5%
5
8.9%
6
8.9%
7
8.9%
Depreciation ($M)
$0.141
$0.242
$0.173
$0.124
$0.088
$0.088
$0.088
Cum. Depreciation ($M)
$0.141
$0.384
$0.557
$0.681
$0.769
$0.857
$0.946
Depreciation Value ($M)
$0.849
$0.606
$0.433
$0.309
$0.221
$0.133
$0.044
8
4.5%
$0.044 $0.000 $0.990
Source: Vref
AVBUYER MAGAZINE Vol 23 Issue 8 2019
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AirCompAnalysis AUG19 updated.qxp_ACAn 05/09/2019 12:56 Page 6
HELICOPTER COMPARISON
AVBUYER.com
Chart E - Productivity Comparison
Productivity Comparison
Others may choose different parameters, but serious helicopter buyers are usually impressed with Price, Range, Speed and Cabin Size. After consideration of these parameters, we can conclude the following: • • • • • •
The Bell 505 shows a higher retail price (based on 2018 used prices); The Bell 505 offers a slightly larger cabin volume; The Bell 505 has almost 20% higher operating cost; The Robinson R66 has slightly higher seats-full range; The Robinson R66 has greater ‘Payload with Full Fuel’ capability; The R66 also offers a higher average cruise speed.
$2.0 $2.0
Price (Millions)
The points in Chart E are centered on the same helicopters. Pricing used in the vertical axis is as published in the Vref Pricing Guide for model year 2018. The productivity index requires further discussion in that the factors used can be somewhat arbitrary. Productivity can be defined (and it is here) as the multiple of three factors: 1. Seats Full Range with available fuel; 2. The Long Range cruise speed flown to achieve that range; 3. The cabin volume available for passengers and amenities.
2018 Bell 505
$1.5 $1.0
2018 Robinson R66
$0.5
$0.0 0.000
1.000
2.000
3.000
4.000
Index (Speed x Range x Cabin Volume / 1,000,000,000)
Robinson R66
In Summary…
Currently, both of the featured helicopters average 10 units sold per month (new and pre-owned) and are clearly popular models on the helicopter market. Operators considering the purchase of a single-engine turbine helicopter should weigh up their mission requirements precisely when choosing the best aircraft for them. Within the preceding paragraphs we have touched upon several of the attributes that helicopter operators value. However, buyers should be aware that there are other qualities that might factor in a buying decision too. Our expectations are that the Bell 505 and Robinson R66 will continue to do well on the new/used helicopter market for the foreseeable future. T For more reading, visit https://philip.greenspun.com/ flying/bell-505/review 88 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Mike Chase’s analytical and consultancy services are highly valued within the Business Aviation industry. He is founder and president of Chase & Associates, and works closely with several respected sources to compile his unique Aircraft Comparative Analysis features. Contact Mike via
[email protected]
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The Private Jet Company August.qxp_Layout 1 17/07/2019 16:00 Page 1
For Immediate Sale
2005 GULFSTREAM G200 S/N 108 8,000 hours, 2016 Interior, New Paint, ADS-B, WiFi, ESP Gold, Asking $3.55m
2002 GULFSTREAM IV/SP S/N 1484
2008 HAWKER 4000 RC-10
2.900 Hours ONLY, 2016 Paint & Interior by Gulfstream, WiFi, 2 Owners Since New, Make Offer
1,095 Hours, BPU/Load 20, MSP + ESP Gold, Dual HF, Part 91, Make Offer
2001 LEARJET 31A S/N 222
1999 HAWKER 800XP S/N 258380
Low time, TR’s, Raisebeck Mod., ESP Gold, Make Offer
+1.561.691.3545
5433 Hours, MSP Gold, Winglets, ADS-B, WiFi, Asking $1.5m
[email protected]
Values Intro August.qxp_Finance 16/07/2019 14:08 Page 1
VALUES - TURBOPROPS
AVBUYER.com
Business Aircraft Values: Turboprops The top-selling turboprops tend to be aircraft that are continually popular among owners needing fuel-efficient, multi-mission types, as AvBuyer explores below…
hile exceptions exist, turboprop airplanes offer a common set of attributes that make them an attractive proposition. The powerplants are responsible for most of this – turboprop engines benefit today from propeller designs that are far more sophisticated than just a decade ago, resulting in lower maintenance costs; longer overhaul cycles; improved climb and cruise performance; and - in turn - reduced noise levels in the cabin. In addition, specific fuel consumption numbers continue to improve – an attractive attribute given today’s depressed oil prices, with the practical effect of allowing the use of higher power-levels without suffering a proportionate increase in fuel consumption/costs. That, in turn, contributes to improvements in take-off and climb performance and cruise speed. Another advantage offered by many turboprops is the single-pilot operational simplicity, engineered into even the multi-engine turboprops. The only exceptions to the sum total of these benefits exist among the unpressurized models that are available and form a small, important and dynamic segment of the turboprop market.
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90 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Today’s turboprops offer a broad range of turbine performance, propeller cost-effectiveness (some with at - or near to - Light Jet cruise performance capabilities) with cabin and cockpit accoutrements that rival the best of the fanjet strata. And on trips of up to 300 nautical miles, the difference in travel time between a jet and a turboprop is negligible.
Turboprop Price Guide
The following Turboprop Retail Price Guide represents current average values published in The Aircraft Bluebook–Price Digest. The study spans model years from 2000 through Summer 2019 (20 year period). Values reported are in US$ millions, with each reporting point representing the current average retail value published in the Bluebook by its corresponding calendar year. For example, the Piper M500 reported in the Summer 2019 edition of the Bluebook shows US$1.8m for a 2017 model, US$1.7m for a 2016 model, and so forth. Aircraft are listed alphabetically.
Note: For additional assistance and interest, Conklin & de Decker Performance and Specification data for these Turboprops can be referred to, beginning on page 96 of this issue.
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Southern Cross August.qxp_Layout 1 15/07/2019 15:25 Page 1
2008 CHALLENGER 605
2000 GULFSTREAM IVSP
S/N 5716 · N688SF
S/N 1407 · N987SC
2008 CHALLENGER 300
2009 CHALLENGER 300
S/N 20227 · LV-GOK
S/N 20241 · N801EL
2014 CESSNA CITATION XLS+
1998 DASSAULT FALCON 2000
S/N 6161 · N560SC
S/N: 62 · N982SC
GLOBALLY INFO
INTIMATE
@SOUTHERNCROSS.COM · +1 (954) 377-0303 ·
SCROSS
.COM
Retail Values Aug2019.qxp_RPG 16/07/2019 14:47 Page 1
VALUES - TURBOPROPS
Turboprops: Average Retail Price Guide MODEL YEAR $
2019 US$M
2018 US$M
2017 US$M
2016 US$M
2015 US$M
2014 US$M
2013 US$M
2012 US$M
2011 US$M
2010 US$M
7.775
5.7
5.1
4.8
4.6
4.1
3.8
3.5
3.3
3.2
6.390
4.7
4.0
3.4
3.3
3.2
3.1
3.0
2.9
2.7
2.6
MODEL BEECH KING AIR 350I BEECH KING AIR 350 BEECH KING AIR 250 BEECH KING AIR B200 BEECH KING AIR B200GT BEECH KING AIR C-90GTX
4.2
3.2
2.8
2.5
2.3
2.1
1.9
CESSNA 208 CARAVAN 675 WG1000
2.320
1.8
1.750
1.725
1.7
1.675
1.650
CESSNA 208 GRAND CARAVAN EX
2.685
2.350
2.250
2.2
2.150
2.050
1.950
1.850
2.6
2.5
1.8
1.750
BEECH KING AIR C-90GTI BEECH KING AIR C90GT BEECH KING AIR C90B BEECH KING AIR C90SE
CESSNA 208 GRAND CARAVAN 675
1.875
1.6
1.750
1.550
1.650
1.5
1.575
CESSNA 208B GRAND CARAVAN CESSNA 208B SCM EX
2.150
2.1
2.0
1.9
1.8
CESSNA SCM 208B
1.750
1.650
CESSNA SUPER CARGOMASTER 208B
1.550
CESSNA 208B SUPER CARGOMASTER CESSNA 208 CARAVAN-675 PIAGGIO AVANTI - P180 PILATUS PC-12/47E NG
6.1
5.5
4.5
4.3
3.8
3.3
2.9
2.7
3.8
3.7
3.6
3.5
3.4
3.3
1.550
1.450
1.3
1.2
1.150
3.1
2.8 2.2
2.1
2.0
4.977
4.5
4.2
4.0
PIPER M600
2.928
2.6
2.450
2.2
PIPER M500
2.081
1.9
1.8
1.7
PILATUS PC-12/47 PILATUS PC-12/45
PIPER MERIDIAN PA46-500TP SOCATA TBM 910
4.069
3.6
3.5
SOCATA TBM 930
4.260
3.9
3.7
SOCATA TBM 900
3.4 3.2
SOCATA TBM 850
1.350
2.4
SOCATA TBM 700C2/EFIS SOCATA TBM 700C2 SOCATA TBM 700B/EFIS AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL:
[email protected]
92 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
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Retail Values Aug2019.qxp_RPG 16/07/2019 14:48 Page 2
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What your money buys today
Summer 2019 2009 US$M
2008 US$M
2007 US$M
2006 US$M
2005 US$M
2004 US$M
2003 US$M
2002 US$M
2001 US$M
2000 US$M
MODEL YEAR $ MODEL BEECH KING AIR 350I
2.9
2.8
2.7
2.6
2.5
2.4
2.2
2.1
2.0
1.9
BEECH KING AIR 350 BEECH KING AIR 250
2.2 2.4
2.1
2.0
1.9
1.8
1.7
1.6
1.550
2.3
BEECH KING AIR B200 BEECH KING AIR B200GT BEECH KING AIR C-90GTX
1.650
1.6
BEECH KING AIR C-90GTI 1.5
1.450
BEECH KING AIR C-90GT 1.350
1.450
1.3
1.250
1.2
1.150
1.1
BEECH KING AIR C-90
0.775
BEECH KING AIR C-90SE
1.3
CESSNA 208 CARAVAN 675 WG1000 CESSNA 208 GRAND CARAVAN EX
1.525
1.4 1.375
CESSNA 208 GRAND CARAVAN 675 1.325
1.250
1.125
1.075
1.050
1.0
0.950
0.9
CESSNA 208B GRAND CARAVAN CESSNA 208B SCM EX CESSNA SCM 208B
1.5
1.4
CESSNA SUPER CARGOMASTER 208B
1.350
1.3
1.250
1.2
1.150
1.1
1.050
1.0
1.275
1.225
1.175
1.075
1.050
1.0
0.950
0.9
2.5
2.2
2.0
1.850
1.750
1.650
1.550
1.5
1.4
3.2
3.1 2.8
0.950
CESSNA 208B SUPER CARGOMASTER CESSNA 208 CARAVAN-675
1.350
PIAGGIO AVANTI P180 PILATUS PC-12/47E NG
2.7
2.6
PILATUS PC-12/47 2.5
2.4
2.3
2.1
2.0
1.950
PILATUS PC-12/45 PIPER M600 PIPER M500
1.125
1.025
0.950
0.9
0.850
0.775
0.725
0.675
0.625
PIPER MERIDIAN PA46-500TP SOCATA TBM 910 SOCATA TBM 930 SOCATA TBM 900
1.9
1.8
1.7
1.6 1.450
SOCATA TBM 850 1.350
SOCATA TBM 700C2/EFIS 1.3
1.250
SOCATA TBM 700C2 1.2
1.150
1.1
SOCATA TBM 700B/EFIS
AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL:
[email protected]
www.AVBUYER.com
AVBUYER MAGAZINE Vol 23 Issue 8 2019
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Y E A R S
15,398,913 FLIGHT HOURS OF INDEPENDENT SERVICE AND SUPPORT With 30 years of proven expertise and data, we know precisely what it takes to maintain and support your aircraft at every stage of its life cycle. Acquisition advice to depend on. Maintenance programs to stabilize your budget and add value to your aircraft. Parts delivered to you on time and in budget. Leasing solutions you can rely on. IT’S TIME FOR A BETTER APPROACH.
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ACSpecs Intro.qxp_AC Specs Intronov06 16/07/2019 12:58 Page 1
SPECIFICATIONS - TURBOPROPS
Aircraft Performance & Specifications Turboprops
T
he AvBuyer Magazine Guide to Aircraft Performance and Technical Specification Data is updated by Conklin & de Decker on a regular basis. The Guide is much more comprehensive and informative, providing more aircraft types and models and including variable cost numbers for all models. This month’s category of aircraft - Turboprops – appears opposite, to be followed by Large 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.
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Description of Cost Elements
The following describes the content of each cost element used in The Aircraft Cost Evaluator. There are no sales taxes included in these costs.
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.
•
Maximum Payload is the maximum zero fuel weight minus the basic operating weight.
Performance Range: • 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.
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.).
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.
Weights: • Maximum Take-Off Weight is specified during aircraft certification.
Engines: The number of engines, manufacturer and model are shown.
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Specifications.qxp_PerfspecDecember06 16/07/2019 13:54 Page 1
NUMBER OF ENGINES
218
5
10100
2950
640
250
2
PT6A-21
BEECHCRAFT KING AIR C90SE
4.8
4.5
12.4
218
5
10100
3205
640
250
2
PT6A-21
BEECHCRAFT KING AIR C90GT
4.8
4.5
12.4
218
5
10100
2306
739
270
2
PT6A-135A
BEECHCRAFT KING AIR C90GTi
4.8
4.5
12.4
218
5
10100
2306
-
270
2
PT6A-135A
BEECHCRAFT KING AIR C90GTx
4.8
4.5
12.4
218
5
10485
2143
903
274
2
PT6A-135A
NEXTANT AEROSPACE G90XT
4.8
4.5
12.4
218
5
10500
2143
-
-
2
H80
SMYRNA AIR KING AIR POWER 90
4.8
4.5
12.4
218
5
10100
3160
-
280
2
H80
BEECHCRAFT KING AIR 200 RAISBECK
4.8
4.5
16.7
303
6
12500
1850
858
289
2
PT6A-41
BEECHCRAFT KING AIR B200
4.8
4.5
16.7
303
6
12500
2180
920
290
2
PT6A-42
BEECHCRAFT KING AIR B200GT
4.8
4.5
16.7
303
6
12500
2240
960
305
2
PT6A-52
BEECHCRAFT KING AIR B200 RAISBECK
4.8
4.5
16.7
303
6
12500
2180
858
292
2
PT6A-42
BLACKHAWK KING AIR B200 XP61
4.8
4.5
16.7
303
6
12500
2180
975
311
2
PT6A-61
BEECHCRAFT KING AIR 250
4.8
4.5
16.7
303
7
12500
2170
636
310
2
PT6A-52
BEECHCRAFT KING AIR 350
4.8
4.5
19.2
344
8
15000
2615
1440
320
2
PT6A-60A
BEECHCRAFT KING AIR 350i
4.8
4.5
19.2
344
8
15000
2500
1440
320
2
PT6A-60A
BEECHCRAFT KING AIR 350ER
4.8
4.5
19.2
344
8
16500
2600
1878
303
2
PT6A-60A
BEECHCRAFT KING AIR 350iER
4.8
4.5
19.5
344
8
16500
2415
1635
303
2
PT6A-60A
CESSNA 208 CARAVAN
4.5
5.3
12.75
271
9
8000
2860
325
186
1
PT6A-114A
CESSNA 208 CARAVAN/CARGO POD
4.5
5.3
12.75
271
9
8000
2680
100
186
1
PT6A-114A
BLACKHAWK CARAVAN XP42A
4.5
5.3
16.75
352
9
9062
3650
627
189
1
PT6A-42A
ENGINE MODEL
MAX SPEED (ktas)
12.4
FERRY RANGE-nm (NBAA IFR FUEL RESERVES)
CABIN VOLUME (Cuft)
4.5
MAX PAYLOAD (lbs)
CABIN LENGTH (ft)
4.8
MAX TAKEOFF (lbs)
CABIN WIDTH (ft)
BEECHCRAFT KING AIR C90B
PASS SEATS TYPICAL
CABIN HEIGHT (ft)
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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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PASS SEATS TYPICAL
MAX TAKEOFF (lbs)
MAX PAYLOAD (lbs)
MAX SPEED (ktas)
NUMBER OF ENGINES
5.3
16.75
352
9
8750
3230
529
184
1
PT6A-114A
CESSNA 208B GRAND CARAVAN EX
4.5
5.3
16.75
352
9
8807
3195
494
194
1
PT6A-140
CESSNA 208B GND CARAVAN/CARG POD 4.5
5.3
16.75
352
9
8750
3060
465
186
1
PT6A-114A
CESSNA 208B GRAND CARAVAN EX/CARG POD 4.5
5.3
16.75
352
9
8807
3002
365
185
1
PT6A-140
ENGINE MODEL
CABIN VOLUME (Cuft)
4.5
FERRY RANGE-nm
CABIN LENGTH (ft)
CESSNA 208B GRAND CARAVAN
(NBAA IFR FUEL RESERVES)
CABIN WIDTH (ft)
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CABIN HEIGHT (ft)
SPECIFICATIONS - TURBOPROPS
DAHER-SOCATA TBM 700C2
4.1
4
10
143
5
7394
1143
1000
292
1
PT6A-64
DAHER-SOCATA TBM 850
4.1
4
10
143
5
7394
1252
967
320
1
PT6A-66D
DAHER-SOCATA TBM 900
4.1
4
10
143
5
7394
1203
989
324
1
PT6A-66D
DAHER-SOCATA TBM 910
4.1
4.1
10
143
2
7394
1203
989
324
1
PT6A-66D
DAHER-SOCATA TBM 930
4.1
4
10
143
5
7394
1203
989
324
1
PT6A-66D
PACIFIC AEROSPACE P-750 XSTOL
4.7
4.6
13.2
220
10
7500
4200
378
163
1
PT6A-34
PIAGGIO AVANTI P180
5.8
6.1
14.9
393
6
11550
1800
980
390
2
PT6A-66
PIAGGIO AVANTI P180 II
5.8
6.1
14.9
393
6
12100
1300
752
363
2
PT6A-66B
PIAGGIO AVANTI P180 EVO
5.8
6.1
14.9
393
6
12100
1300
752
363
2
PT6A-66B
PILATUS PC-12
4.75
5
16.9
356
7
10450
2475
1340
261
1
PT6A-67B
PILATUS PC-12 NG
4.83
5
16.92
356
7
10450
2257
1309
280
1
PT6A-67P
PIPER M500
3.9
4.2
12.3
164
5
5092
1216
213
260
1
PT6A-42A
PIPER M600
3.92
4.13
12.33
165
4
6000
1120
633
274
1
PT6A-42A
PIPER MERIDIAN PA 46TP
3.9
4.2
12.3
106
5
5092
1187
489
267
1
PT6A-42A
QUEST AIRCRAFT KODIAK
4.5
4.8
15.5
248
5
7255
2515
524
180
1
PT6A-34
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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AVBUYER.com Gary Crichlow, director of aviation finance, Arc & Co has worked in aviation finance for the past 12 years. He was the aviation asset manager at GE Capital and Lombard handling numerous aircraft transactions. Arc & Co has years of experience in arranging and advising on finance deals across real estate, aviation and marine assets.
Refurbish Your Jet with Maximum Appeal (Part 1) When refurbishing your business jet, how far should you go? How can you anticipate appealing to future buyers, and what should be the priorities with a sale in mind? Arc & Co’s Gary Crichlow shares the insights of Tobias Laps and Iain Houseman… efurbishing or upgrading an aircraft is a very different investment proposition compared to refurbishing a property. While property generally appreciates in value over time, aircraft are fundamentally depreciating assets. Outside of very specific, often unpredictable market conditions, aircraft will lose value as they age. Any investment into a business aircraft therefore needs to be looked at from the point of view of slowing that value loss as much as possible and extracting maximum utility, rather than expecting a positive financial return. The most effective way to slow natural depreciation is to ensure the aircraft is desirable to the market so it sells quickly when the owner decides they want to upgrade or generate some cash. Mainstream, sought-after aircraft models in top maintenance condition that have undergone a highquality cabin refit don’t tend to stay on the market for long (unless they’re unrealistically priced).
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What Makes an Appealing Interior?
Naturally, when considering how to fit out the cabin of a private jet, it’s crucial to make choices that not only align with your current needs and desires, but also account for your future buyer’s mindset as much as possible. Decisions made now often have a sizeable impact on the future point of sale. The one similarity with selling property is that a well-executed interior should enable the buyer to visualize himself or herself in the cabin with little or no change rather than having to consider the cost of ripping it all out and starting again. Following are several themes that are important to consider when it comes to the perceived value that a well-executed cabin refit generates at the point of sale from a buyer’s perspective. Note: With our use of the term ‘value’, we encompass not only the actual return by way of an increased sale price (which tends to be the exception rather than the rule), but also the impact on the time
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it takes to sell the aircraft, thereby minimizing the detrimental effects of depreciation and time on the market.
Aircraft Condition Over Aircraft Style
Generally, aircraft in better condition tend to be easier to sell. A relatively new interior that’s in good condition can markedly increase an aircraft’s appeal, but its impact will be very much dependent on the basic aircraft ‘metal’, i.e. its age, hours and maintenance condition. Tobias Laps from Comlux Management AG notes that on Large Jets and Bizliners, the design of the interior, the layout and materials tend to have a much bigger impact on the buyer’s decision-making than on smaller aircraft. “In our experience, when buyers walk onto an aircraft, they typically know within the first few minutes whether the interior will work for them or not,” Laps explains. “If they don’t like the interior at all, they will often walk away from the deal. If there are only certain aspects of the interior that they don’t like, they will then have to decide whether changing those aspects would be worthwhile. “It is at this point that they weigh up their view of the basic aircraft, the metal versus the cost of changing the interior to better suit their needs. If the metal is relatively new, in good condition, and is worth significantly more to the buyer than the cost of the interior upgrade, then that’s what will tend to drive the decision,” Laps continues. It is therefore of key importance for a seller to understand the interplay between the technical and the cosmetic, which will depend heavily on the specific details of the aircraft.
Do Cabin Cosmetics Matter?
“ It is therefore of key importance for a seller to understand the interplay between the technical and the cosmetic...”
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There are important aspects of the cabin prospective sellers can address to give buyers a first-class impression of the aircraft’s condition, and according to Laps that begins with choosing an interior layout with resale value in mind well before the actual sale, including “mainstream” color and veneer choices. “In terms of specification, wireless connectivity is a trend whereby passengers can connect their own devices while on board,” he adds. “Upgrading a wireless entertainment system is easier because the interior does not have to be removed to rewire components.”
Know Who You’re Trying to Impress
Regardless of the layout and specification, Laps emphasizes that the first thing you must do when selling your jet is to prepare to impress the principal’s technical representatives. “Make sure the maintenance records are up to date, well-organized and presentable and the aircraft is clean and fully serviceable,” he details. “It’s a very good idea to clean the landing gear, bays and externally-accessed compartments.
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“Only after the representative has examined the technical condition of the aircraft and records and is satisfied will the principal typically come to assess the interior and overall cosmetic condition and make the final decision.” In preparing for the principal to come and view the aircraft, it will need to be cleaned. “The exterior should be spotless, and the flight deck and cabin should be deep-cleaned, including the galley, lavatories, carpet and sidewalls,” Laps concludes. “Everything should look fresh and up-to-date. Soft goods and furnishings should invite the principal to visualize himself or herself using the aircraft.”
Age Before Beauty?
Iain Houseman of Elit’Avia, meanwhile, believes the interior will be a lot more important if the aircraft is older. “If it’s a newer aircraft, then the interior is usually still in pretty good shape and, in that case, it comes down to how appealing it looks to the buyer,” he notes. “If the interior has been designed in a way that appeals to a limited group of people (as an example, red leather seats or a carbon fibre interior instead of veneer) that can be a deal-breaker, because buyers will have to spend time and money to change it. “For older aircraft, the interior condition can be important for the same reasons – if the interior has recently been redone or is in good condition then the aircraft is more appealing, because it doesn’t need significant rework,” Houseman observes. “Additionally, there is a need to understand the current technology systems and the proximity of major inspections for the aircraft that will allow upgrades to be incorporated and save considerable costs. For example, we estimated a major inspection for an owner’s aircraft of $1.1m and got the cost down to just under $800k – and managed to include some key avionics upgrades, internal improvements and soundproofing enhancement, which proved very useful in getting the aircraft ready for sale.”
In Summary…
“Everything should look fresh and up-to-date. Soft goods and furnishings should invite the principal to visualize himself or herself using the aircraft.” 104 R Vol 23 Issue 8 2019 R AVBUYER MAGAZINE
Upgrading and refurbishing an aircraft is a significant investment that can strongly enhance your experience while on board. Nevertheless, when planning for the investment, it’s important to have a realistic view of the value a refurbishment creates. A well-executed cabin refit should not only meet your immediate needs in terms of space, aesthetics, utility and connectivity. It should appeal to the broadest possible range of potential buyers when the time comes to move the aircraft on. In ‘Part 2’ we’ll explore the current trends in cabin design as owners seek to maximize utility, comfort and style, gaining input from renowned interior designer Celia Sawyer, while also considering the importance of maintaining paperwork and ensuring the design is properly certificated to enhance the chance of selling your aircraft at the best price. Stay tuned…. More information from www.arcandco.com ❙ www.AVBUYER.com
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From Under The Sea to Up in the Air What’s behind the idea to offer diamond coating for private jets? Is it purely aesthetics, or are there practical benefits? And what does the future hold for Jean Boulle Luxury in private aviation? Mike Angenent, director, Jean Boulle Luxury shares with AvBuyer… 106 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
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AVBUYER.com The team involved with the first completed diamond coated Bombardier Global Express
Did you know... ? There are approximately 500,000 tiny diamond crystals per square foot of Sun King Diamond Coating. ike Angenent was already active in the diamond industry sourcing unique diamonds for high-end customers when he received a request from the Jean Boulle Group to participate in something a little different. The Jean Boulle Group, through its principle Jean-Raymond Boulle, is the largest shareholder of Diamond Fields Resources Inc (DFR), with diamond mining activities in Namibia, where production consists of small but high-quality sea diamonds. At the time, The Jean Boulle Group, through its subsidiary Jean Boulle Luxury, wanted to explore new markets for part of this special production. Other than selling the diamonds for further cutting and polishing, the company explored producing a diamond coating for automobiles.
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Through Bonas, an independent auctioneer, Jean Boulle Luxury acquired 1,000 special stones from DFR, which it processed and delivered to a specialist team at Rolls-Royce and together they created the diamond coating which was applied to a truly unique Ghost Elegance, which Rolls-Royce exhibited at the Geneva International Motor Show. “Following success in the automotive industry we wanted to make our diamond coating available for the yachting and aerospace markets too,” Angenent recalls. “That’s when we started our cooperation with AkzoNobel to get the appropriate certifications and OEM approvals.”
The Challenge of Making Jets Shine
Anyone who’s been around aviation for any length of time will be aware that it’s far less AVBUYER MAGAZINE Vol 23 Issue 8 2019
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The 490ft mining vessel Ya Toivo, operated by IMDH Group of companies, recently deployed to extract diamonds from the seabed within Namibian ML 111 Concession of Diamond Fields Resources Inc.
Jean Boulle Luxury processes some of the diamonds into small crystals that AkzoNobel incorporates into its Alumgrip 4450 clear top coat that can be applied to business jets.
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straightforward to get a product certified on a business jet – and that proved to be the case for Jean Boulle Luxury as it sought having its Sun King Diamond Coating product certified. “Having a partner with substantial experience in the industry certainly helped,” Angenent explains. “We wanted to make sure that we had a globally compliant product where someone can have their aircraft painted in Europe with a system that is compatible in the US (and vice-versa). “Such regulatory considerations are particularly challenging for the aerospace market but with AkzoNobel, we have a partner that can adapt to the necessary standards,” he reflects. Practically this means that Jean Boulle Luxury sends its diamond product to AkzoNobel’s US facility in Waukegan where they mix it into their Alumigrip 4450 clear top coat while making sure that there is no loss of performance. “The different OEMs have their own standards and protocols but through Akzo, companies such as Gulfstream, Embraer, Textron, Honda, Boeing, Bombardier and others either already have the Alumigrip product range available as their house paint, can use it on specification or are working towards the qualification,” Angenent adds. “This gives us plenty of opportunity in the private and business jet markets – and aftermarket customers can, of course, use what they want.”
The Practicalities of DiamondCoating Jets
As glittering as the idea of applying diamond coating to a jet may be, are there limits to the paint/colour schemes that can be applied to an aircraft that operators need to be aware of – or is the sky the limit? “Theoretically an operator can paint their aircraft in any color scheme they desire,” Angenent says. “But there are practical reasons why some choices are less advisable. “Heat is one thing that comes to mind. White is a common color on aircraft for good reason. It’s the best color to deflect heat. Adding a top grade clearcoat application will take care of extra UVR protection.” And where heat is concerned Angenent reveals one of the possible advantage Sun King Diamond Coating 108 R Vol 23 Issue 8 2019 R AVBUYER MAGAZINE
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The sparkle effect of Sun King Diamond Coating on a Bombardier Global Express
may offer. “There might be a heat dissipation effect,” he offers. “The customer of the Bombardier Global Express that we painted with Satys in The Netherlands indicated a significant decrease in cabin temperature and less use of the air conditioning. “This may be due to the diamond crystals as diamonds are highly effective heat conductors. The thermal conductivity of natural diamond is measured to be about five times more than silver, the most thermally conductive metal,” he elaborates. “We're currently conducting tests with research institute TNO in the Netherlands to confirm the hypothesis.” Exposed to extreme temperature and air pressure changes, an aircraft’s paint scheme will undergo substantial stress during its lifetime. Ultimately, operators who are prepared to spend a little extra on their paint materials and labor will reduce their future mandatory maintenance tasks, Angenent argues. “As a company, we look favourably towards these kinds of necessities as your future maintenance should not stand in the way of your present design choices. He suggests looking for three things when choosing the facility that will do your next aircraft paint upgrade. “You should look for certification (i.e. facility standards), experience and references. Personally, I think the references are crucial.” And you should allow plenty of time to plan the project, and allow for the appropriate time for the 110 R Vol 23 Issue 8 2019 R AVBUYER MAGAZINE
aircraft to be in the maintenance shop. “Ultimately how long you need to allow for your airplane to be grounded will depend on the type/size of the aircraft and the refurbishment needed,” he continues. “For the Bombardier Global Express that was completely repainted, the job took less than four weeks.”
A Glittering Future in Private Aviation?
Having introduced a highly unique paint option for business jets, are there any plans from Jean Boulle Luxury to expand in the gemstone aircraft coating market, perhaps incorporating rubies or sapphires? “Other gems completely lose their color and lustre and thus are not suitable for a similar kind of application,” Angenent explains. “With diamonds, and only diamonds, this works even on the extremely small crystal sizes we infuse in the top coat. “There’s an old, Indian creation myth that tells the story of the god of gemstones' desire to create a new gem. For this, he took all the coloured gemstones at his disposal, crushed them and mixed them together to create the diamond. “This myth serves as a metaphor for what we scientifically call the multichromatic effect of diamond crystals, the fact that you can see all the colors of the rainbow when the diamond catches the light at the right angle,” Angenent concludes. More information from www.jeanboulleluxury.com
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KNOW MORE. Flight Analysis by Owner/Operator, Aircraft, Fleet, and Airport
UTILIZATION REPORT: Owner: Don Fay, 540-765Chief Pilot: Tim Lowe, 757-200Operator: EZ Fly, 276-336GULFSTREAM 550 REG #: N107MF
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AVIONICS
Touchscreen Avionics: What are the Benefits & Challenges? (Part 2) How can a pilot ensure safe transition to touchscreen avionics?
What are the benefits they’ll gain in the cockpit, and how do these stack against the challenges? Mario Pierobon asks the industry...
n important aspect to enable seamless transition to touchscreen flight decks from older knob and button-operated avionics is the skillset pilots need to develop, and this will ultimately be developed through training. The fact that smartphones and tablet computers have become mainstream is already a powerful enabler of touchscreen flight deck technology, notes Greg Crawford, associate director, avionics system engineering, Collins Aerospace. “Touch phones, tablets and computers are in everyone’s daily lives and have shown to be simple and intuitive to use in general,” he elaborates. “Touchscreens in aviation have the same effect; they provide the ability to make the interaction points simpler to understand and utilize.
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“Therefore, training is not expected to have a major impact.” Paul Damschen, senior flight test pilot/DER at Universal Avionics agrees, noting that generally pilots do not need to develop any new skillsets, especially if they’re familiar with typical Smartphone or iPad devices, which most crews use now to manage their IFR charts. “Training requirements typically surround the specifics of the user interface, in terms of the design philosophy of the user interface, and how to access and input information to the system,” he points out. “A well-designed Touch user interface can and should be more intuitive than a traditional mechanical interface that cannot be easily adapted or changed to fit the mission for the airplane.” Garmin adds that it’s integral that pilots familiarize www.AVBUYER.com
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themselves with a new flight deck or avionics suite prior to any flight, regardless of whether or not it has a touchscreen interface. “We offer a wealth of training solutions ranging from free iPad training applications, web-based eLearning courses, or dedicated classroom training that’s held by our pilot instructors,” a Garmin spokesperson told AvBuyer. “Whether pilots are looking for training on a standalone GPS navigator or a fully integrated G5000 flight deck, we have a training solution.”
The Importance of Muscle Memory
Muscle memory also plays a significant role in the transition towards touchscreen flight decks. “Muscle memory is important for pilots as a set of actions to do a certain thing,” Crawford explains. “In cockpits, controls are often scattered amongst the available real estate - pedestal, overhead, panel, etc. Certain heavily-used actions may require using controls in multiple locations. Touchscreens can greatly simplify some of these types of arrangements. “Touchscreens are able to provide status on the same page as control, replacing the need to use muscle memory for control locations with a page that can provide a more intuitive user interface for actions,” he continues. “In addition, touchscreens can be used to automate a control action. “As beneficial as touchscreens are, and as they become more prevalent in the cockpit, simple, ‘immediate need’ operations may still be best served with a dedicated button and muscle memory configuration,” Crawford concludes. www.AVBUYER.com
“Therefore, systems will always need to be matched to the operation they serve.” There are instances when muscle memory may actually negatively affect performance, however. “I personally try to avoid muscle memory for operations due to the nature of flight test and our need to understand each control input and evaluate its intuitiveness and correctness,” Damschen reveals. “We do know that many pilots that use touch devices use muscle memory inputs heavily, but not more so than traditional FMS devices with mechanical keys and monochromatic displays.”
Operating Logic of Prime Importance
Garmin suggests the operating logic between different avionics suites and touchscreen flight decks is perhaps more important. “We purposely design our products so that if pilots have flown with a product such as the GTN 650/750 in a Bonanza, they can translate the operating logic over to the G5000 integrated flight deck in a Beechjet and have a similar user experience. “A seamless pilot experience across the entire product line is essential to avionics and flight deck design.” ❙ Mario Pierobon is a safety management consultant and content producer. He currently is working on a research project investigating aircraft ground handling safety. Contact him via
[email protected]
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Ken Elliott is a veteran with 52 years of aviation experience focused on avionics, in General and Business Aviation. Having a broad understanding after working in several countries on many aircraft types and avionics system, he has contributed to several work groups and committees, including for NextGen, Airport Lighting, Human Factors, Unmanned Aircraft and Low Vision Technology. In retirement, he is striving to give back the knowledge gained with an eye on aviation’s future direction.
What’s the Future of Avionics? (Part 3) Ken Elliott continues his reversed time journey from the future back to the present, covering the evolution of avionics. This month, he considers the virtual sphere of protected airspace surrounding the aircraft of the future… onsider the future aircraft as an actual flying craft, surrounded by a virtual sphere of protected airspace. With this in mind, it may be easier to understand how full autonomy can become acceptable. The virtual sphere is what the wider world experiences, whether that’s air traffic control, other aircraft (manned or unmanned), or any resource used by aircraft. You can think of that virtual sphere as both a ‘bubble’ of protected airspace, and a partitioned segment of ‘cloud-based avionics’ dedicated to the aircraft of interest. The segment of the virtual sphere dedicated to avionics will provide for off-board communication, navigation and surveillance (CNS). The transfer of CNS to the physical aircraft will be via a bidirectional ‘single digital complex word’ that uses a closed-loop system.
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Communication: Is a data set, and the transfer of the digital word itself from and to the aircraft. Navigation: Is the control of the aircraft and the command portion of the digital word. The actual navigation calculation and steering function is an off-board process. This, in turn, is converted aboard the aircraft into electro-mechanical drive commands. The resultant movement of the aircraft is monitored and provides instantaneous feedback acting out a reactive closed-loop system. Surveillance: The outer bubble of the virtual sphere is really the surface of a surveillance screen. This bubble is a result of the closed-loop system and associated with ‘desired versus actual’. Because of low latency in the advanced communications, this will equate to real-time monitoring, maintaining an effective, protective flight-shield to the aircraft.
www.AVBUYER.com
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Figure A: The Projected ‘Virtual Spherical Aircraft’
The flight-shield may include several stages of criticality, acting as spheres within the primary sphere. Penetration of each sphere will trigger a greater concern and a unique reaction, as any ‘threat’ approaches closer to the physical aircraft. Algorithms will determine the appropriate avoidance decision to be taken by each aircraft involved in an intrusion event. Current unmanned aircraft operate with geofencing to keep away from sensitive locations and airports. This technology is already in our midst and should gradually mature into something useful for much larger Part 25 aircraft, as used in Business Aviation. While for today’s unmanned aircraft geo-fencing pertains to avoidance of disallowed airspace, tomorrow’s aviators will also employ geo-fencing techniques to protect the aircraft itself.
•
• • •
•
Apart From CNS? EEP…
The spherical virtual aircraft (that includes the physical structure with its payload) will benefit from other advancing technologies than just CNS that enhance aerodynamic performance through improvements in Energy, Engine and Propulsion (EEP). This equates to the ‘Four Ps’: • Power Source (the fuel of efficient energy) • Powerplant (the engine of efficient energy conversion) • Propulsion (transferring energy into motion) • Platform (the optimum aerodynamic vehicle used for transport/enterprise).
Which Current Technologies are Shaping the Future?
Including geo-fencing, there are several technologies that have been recently introduced or advanced that will shape the future… 116 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
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• •
Assuming propeller technology, the development of low propeller tip speeds, halving that of helicopters today and essentially lowering noise levels. For vehicles operating below 400ft and in urban areas this will be essential. The fusion of electric and traditional turbine in the form of hybrid engine technology. Development of eVTOL aerodynamic efficiency, reducing demand on the energy source and increasing load capacity, all at less cost. Stabilization in all axes to a high level of accuracy and response. Achieved by miniature Earthreferenced inertial systems emerging from today’s unmanned aircraft and leveraging those used in business jets today. Energy source as reliable and efficient, with low weight and sufficient demand capacity to provide power for future engines. (This is perhaps the primary challenge facing electric aircraft development where carriage requirements include people and cargo. One interesting disadvantage of batteries as an energy source is that – unlike jet fuel – the batteries weigh the same at taxi-out as they do at taxi-in. Fuel burns off, decreasing the gross weight of the aircraft as a flight progresses.) The replacement of gearboxes and multiple traditional engines with Distributed Electric Propulsion (DEP) technology. A family of electrically driven propulsors providing lift and thrust, redundancy and weight distribution, and located at points of maximum flight dynamic efficiency. Continued evolution of ‘fly by wire’ technology. Several evolving, electric-based, enabling technologies as well as the advancement of those in use today.
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AVIONICS Table A: Primary Enabling Electronic Technologies
Technology (inc. Software)
Function
Detect and Avoid (DAA)
Separation
Air to Air Radar (ATAR)
DAA Separation
Optical Sensing
Visual Separation
LTE for Avionics
Datalink, closed loop commands
RTK GPS
Real-Time Kinetic precision position
Loss Link
Actionable Software for recovery
Auto Return
Recovery Software command
Diagnostics
Real-time, in flight monitoring
C2
Command & Control
Radio Frequency Identifying (RFID) Sensors
Position & status monitoring
Geofencing
Airspace protection and threat avoidance
What are the Enabling Electronic Technologies for Future Aircraft?
Evolving: Outlined in Table A (above) are the primary enabling electronics. These are evolving because, today, they are specific to mostly smaller unmanned quadcopters (sUAS) and other unmanned platforms (UAS). As the ‘below 400ft community’ expands into the ‘over 500ft club’ (maintaining an intended 100ft buffer), these technologies will develop further and migrate, by necessity, into traditional evolved aircraft operating above 500ft. Advancing: Outlined in Table B (below), the primary existing technologies are targeted to advance more rapidly permitting inclusion into new platforms flying at any altitude and within any accessible airspace. By combining these two technology groups we have the necessary bandwidth of tools to link our
future ‘spherical virtual aircraft’ to platforms, we are presently familiar with. These electronic-technology lists, and the frequencies at which they operate (see Table C, top, right), are by no means comprehensive. For example, they do not include newer forms that may or may not emerge, such as aviation Artificial Intelligence (AI), see Table D, bottom right. Similar requests may be applied across all sectors of society, including commerce, as the initial step of a future transportation plan. Once a transportation plan is activated, the profile is created, setting in motion both ground and flight legs. Complex word commands are then created, using AI and a future ‘cloud’ to commence the motion of each form of transport. It may sound futuristic, but you can bet it’s already on an engineer’s table somewhere…
(4G)
Table B: Primary Existing Advancing Electronic Technologies
Technology (inc. Software) Compact Satcom
S
2 – 4 (4G)
C
4–8
X
8 –Function 12
K
C-, Ku- or Ka-band datalink
Space-Based ADS-B
Tracking & separation
ACASS Xu
TCAS for autonomy
GPS L1/L2
Precision GPS-navigation
Inertial Management (IMU)
Precision Situational Awareness
Advanced Flight Path Vector (FPV)
4D FPV take-off & landing
Advanced Air Data & Flight Control
eVTOL maneuvering
Real Time Remote Operations
Transition, pilot to remote, then no pilot
Encryption & Cyber Protection
Security & integrity of datalink
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AVBUYER.com Table C: Frequency Bands to be Used in Future Aircraft Electronics What’s the Role of 5G in all of This?
Already we are witnessing the rapid deployment of 4G (fourth generation cellular-based internet) into business aircraft cabins. While the resultant use of improved onboard Wi-Fi is primarily for the benefit of the cabin occupants, it does provide ability to be utilized by the pilots, typically via tablets. Subject to ongoing signal assurance, this will evolve into Wi-Fi enabled avionics, forming a data path between an aircraft and the future cloud. Once the future 5G internet is derived via satellite, offering global coverage, the use of Wi-Fi for avionics will become more acceptable. Signal reliability, redundancy and security are three big concerns but, like everything else, the marketplace – driven by the transport demands of a financially enabled population – will ensure these are addressed. Despite reservations, technologies embedded in the internet will be approved by airworthiness authorities, if approached incrementally. The primary differences between current 4G data and future 5G are greater data rates and lower latency, both significant requirements for future avionics. Functioning at up to 100Gb per second, 5G should outpace 4G, being 100 times faster. 5G offers greater capacity, bandwidth B and reliability. Add this to satellite-derived internet and the gains will be exponential.
In Summary
It may be fair to assume that high flying, load bearing aircraft (including business jets) will S transition to more radical forms at a slower pace C than their smaller, lower flying, load bearing cousins. These cousins are presently usedX for enterprise activity, where load is not a high K ratio of total weight, and where the SWaP (size, weight and power) consideration is not as critical.
Band
Frequency (GHz)
VHF
0.030 – 0.30
UHF
0.30 – 1
L
1 – 2 (4G)
S
2 – 4 (4G)
C
4–8
X
8 – 12
Ku
12 – 18
Ka
27 – 40
MMW
24 – 86 (5G)
Because of this likely lag, the focus of any business aircraft operation in the near future may be on the impact of wider aviation developments on conducting flights. The airspace picture is guaranteed to change irrespective of the pace of evolution in business and transport aircraft. In line with the R&D timeline necessary for future energy, engine and propulsion (EEP) integration on larger transport aircraft, there will be the extensive ‘show compliance’ timeline of airworthiness approval. Apart from the approval of new forms of EEP, there will be the gradual acceptance of the electronic technologies outlined in Table A. These (4G) Off-The-Shelf (COTS) based Commercial innovations 2 – 4 (4G)are novel, miniature by comparison, and powerful in their potential. 4–8 Next month, we’ll address the primary enabling – 12 and8 primary existing advancing electronic technologies highlighted in Tables A and B showing how they are truly a straightforward evolution of everything in use today. Stay tuned…! T
Table D: An Aviation Artificial Intelligence Example (Customer logs in to a request site and completes the following…)
Question
Answer
Date and time of service?
May 5, 2035, 9:30am
Pick-up location?
Home address
Destination?
City block location
Passengers?
1
Weight, including all carriage items?
190lbs
Required time at arrival (if applicable)?
10:30am
Return pick-up?
No
Limitations, disabilities, special requests?
Wheelchair
Environmental token?
Offset debit/credit (complex use formula)
AI selects the ground and air transport (e.g. Uber), the route and timing (including weather and 4D traffic situation) and availability of service. It then calculates overall environmental impact (each user and operator has a token debit or credit status that can be applied to cost). The user is then quoted for approval and activation.
www.AVBUYER.com
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COMMUNITY
OEM Bites
Bombardier Launches Learjet 75 Liberty According to Bombardier, the Learjet 75 Liberty that is expected to enter service in 2020 will be a step up for Light Jet operators, delivering greater performance for the same operating costs as the competition…
B
ombardier unveiled the Learjet 75 Liberty last month. Among its stand-out features, passengers will enjoy what the OEM is describing as “the only Executive Suite in the Light Jet category”, a stunning cabin that is being designed to deliver “the quietest and smoothest ride”. The Learjet 75 Liberty will be offered at a list price of US$9.9m and will offer strong performance at the same operating costs as competing aircraft in the market. Its range of 2,080nm will
connect Las Vegas to New York, Seattle to Washington, D.C., and Mexico City to San Francisco, non-stop. Featuring a flat floor throughout the cabin, a standard pocket door between the cockpit and the executive suite, and a Gogo ATG 4G solution for seamless connectivity, the aircraft will also feature the advanced Bombardier Vision flight deck and include the recently announced Garmin G5000 avionics upgrade.
anywhere, everywhere - on pc, smartphone and tablet.
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Cirrus has secured European validation for the G2 version of its SF50 Vision Jet, and delivered the first example to a European customer. The approval comes six months after the upgraded personal jet received FAA certification and entered service. www.cirrusaircraft.com
More information from www.businessaircraft.bombardier.com
The BEST AIRCRAFT FOR SALE SEARCH
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Boom Supersonic is ready to launch the flight test phase of its Overture XB-1 sub-scale demonstrator. The first supersonic flight is scheduled to take place in 2020. The XB-1 is a two-seat prototype powered by GE J85-15 engines adapted for operations at Mach 2.2. www.boomsupersonic.com
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Daher, manufacturer of the TBM line of high-speed turboprops, will acquire Quest Aircraft which makes the Kodiak 100 short take-off and landing aircraft. Daher says the move strengthens two "strategic pillars" by widening its product range in the turboprop segment and "reinforcing" its aircraft manufacturing business. In addition, it will help grow its North American footprint. www.daher.com www.AVBUYER.com
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C
OEM Bites
Gulfstream announced last month that the all-new Gulfstream G600 earned both its type and production certificates from the FAA. The certifications clear the way for the first G600 deliveries to customers as scheduled this year. The G600 flies 6,500nm at its long-range cruise speed of Mach 0.85. www.gulfstream.com
Honda celebrated the recent delivery of the first two HondaJet Elites to Hawaii, making the HondaJet Elite the first Light Jet to enter service in Hawaii. Wing Spirit, a newly established company that will provide luxurious and convenient charter services for inter-island transportation, has taken delivery of the two aircraft. www.hondajet.com
Textron Aviation celebrated its leadership of the Light Jet segment with the delivery of the 300th Cessna Citation CJ4, a top performing aircraft in this category. The milestone aircraft was delivered to McNeilus Steel, based in Dodge Center, Minnesota. www.txtav.com www.AVBUYER.com
Embraer Delivers First New Praetor 600 Embraer has delivered the first new Praetor 600 Super Mid-size business jet to an undisclosed European customer. The Praetor 600 was certified in April 2019, just six months after its announcement… ichael Amalfitano, president & CEO, Embraer Executive Jets lauded the announcement: “We’re thrilled to deliver the first Praetor 600 and we’re confident that our customer will be fascinated with the most disruptive and technologically-advanced Super Mid-size business jet to enter the market,” he noted. “The Praetor 600 is certain to create a new value experience for our customers and help them outperform in their
M
business and personal endeavors.” The Praetor 600 is an aircraft of many firsts, including being the first Super Mid-size Jet with full fly-by-wire technology, and is now the farthest-flying Super Mid-size Jet, able to make non-stop flights between Dubai and London, Paris and New York, São Paulo and Miami. With four passengers and NBAA IFR Reserves, the Praetor 600 has an intercontinental range of 4,018nm. More information from https://executive.embraer.com
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Devan Clark has joined Leading Edge Aviation Solutions as a VP of aircraft sales. He joins Leading Edge directly from Charleston Aviation. Chris Edwards was recently appointed regional vice president of sales for Northern Europe, on behalf of Gulfstream. He covers the UK, Ireland, the Netherlands and Scandinavia. Devan Clark
Samantha Langen
Abdel Farah has been appointed area sales director for the Asia, Australia and Indonesia market for SR Technics, a leading MRO service provider. Samantha Langen has been promoted to the position of sales director, Midwest on behalf of Guardian Jet, the Guilford, Connecticut-based Business Aviation consulting and brokerage firm. Robert Randall has been appointed to the newly created position of director of strategic business development for Universal Avionics.
Robert Randall
Alessandro Scarpellini
Hervé Rousselle has been appointed to the position of European regional sales manager for Universal Avionics, based in Lyon, France. Alessandro Scarpellini has been named regional vice president of sales for Southern Europe, including Switzerland, for Gulfstream. Romain Trapp has been appointed president, Airbus Helicopters Inc., and head of the North America Region for helicopters. He succeeds Chris Emerson, who is assuming the role of president of Airbus Defense and Space, Inc.
Romain Trapp
Matthew Zuccaro
Matthew Zuccaro, president and CEO of Helicopter Association International (HAI) is to retire effective June 30, 2020.
BizAv Events 2019 LABACE Aug 13 – 15 Sao Paulo, Brazil www.abag.org.br
The Elite New York Sep 14 - 16 Essex County Airport, NJ, USA www.theeliteevents.com
Revolution.Aero San Francisco Sep 23 – 24 San Francisco, CA, USA www.revolution.aero
Vertical Flight Expo Nov 5 - 7 Farnborough, UK www.helitechinternational.com
Aircraft Interiors Expo Americas Sep 10 – 12 Los Angeles, CA, USA aircraftinteriorsexpo-us.com
Air Charter Expo Sep 17 London Biggin Hill, Kent, UK www.aircharterexpo.com
Global Business Aviation Workshop Oct 3 – 4 Montreal, Canada www. aeropodium.com
Corporate Jet Investor Miami Nov 12 – 13 Miami Beach, FL, USA www.corporatejetinvestor.com
RUBAE Sep 11 – 13 Moscow, Russia www.rusaviainsider.com
MEBAA Show Sep 17 – 18 Marrakech, Morocco www.mebaamorocco.aero
NBAA-BACE: Convention & Exhibition Oct 22-24 Las Vegas, NV, USA www.nbaa.org
Dubai Airshow Nov 17 – 21 Dubai, UAE www.dubaiairshow.com
AOPA Fly-IN Sep 13 - 14 Tullahoma, TN, USA www.aopa.org
Aviation Expo China Sep 18 – 20 Beijing, China www.cpbjif.com
Bombardier Safety Standdown Oct 30 – Nov 1 Dallas, TX, USA www.safetystanddown.com
Aviapages Swiss Private Jet Show Nov 21 Lugano Airport, Switzerland www.aviapages.com T
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American Kodiak August.qxp_Layout 1 18/07/2019 16:31 Page 1
The Kodiak 100 One Plane That Can Do It All www.AmericanKodiak.com An American Department of Wildlife and Fisheries chose the Kodiak 100 because it is easy to work on, easy to fly, and safe with great flight handling. For the complete story, visit our website at www.americankodiak.com/blog
RUGGED
One of their specialties is duck and geese surveys – taking estimates of the duck and geese population from the air. They need an aircraft that the flight crew could safely maneuver in tight spaces with tough landing gear and rugged tundra tires for all their field landing missions.
RELIABLE
Safety was a top concern. The Kodiak 100 can deliver their entire team – biologists, observers, flight crew and equipment – safely to remote locations involving variable takeoffs and landings, weather conditions and lengths of flight. The Kodiak 100’s unmatched STOL performance, sturdy landing gear, advanced avionics and turbine power reliability (750HP) make it all possible.
VERSATILE
The cargo pod allows the department to manage passenger and cargo capacity that optimizes use of space in the Kodiak 100. They can carry 2 or 3 biologists, observers and flight crew with comfort. The large opening in the back even allows them to easily relocate whooping cranes as necessary. AmericanKodiak.com | Mailing Address: 5007 Airport Road, Denton TX 76207 | 940-800-8022 Sales: Eamonn Donovan |
[email protected] OR Dan Boone |
[email protected]
Conklin & de Decker January.qxp_Layout 1 15/04/2019 11:42 Page 1
A New Conklin & de Decker is Here Evaluate / Plan / Maintain
conklindd.com
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PRODUCTS & SERVICES OGARAJETS Introduces Five -1-Five Approach for Aircraft Transaction Management GARAJETS, an established respected global company offering Ocomprehensive, concierge-level service for aircraft acquisitions and sales, recently aunched its branded Five-1-Five Approach for aircraft transaction management. “We’ve often found it hard to communicate the true value, both tangible and intangible, that OGARAJETS brings to the aircraft transaction experience to anyone who hasn’t partnered with us before,” said Johnny Foster, president and CEO, OGARAJETS. “We’re excited to introduce our branded Five-1-Five Approach, coinciding with the refresh of our website, to better communicate that value to prospective clients and partners. While this actually isn’t anything new for us, just our standard operating procedure, we do hope it helps reinforce our commitment to map out the buyer’s and seller’s journey with an unmatched experience in navigating the bumpy roads of aircraft transactions.” OGARAJETS’ Five-1-Five Approach is proven to assure clients avoid significant pitfalls within any one of the five critical areas that could potentially cost them more than five times their investment in their service fees. For aircraft buyers, those five critical areas are:• Mission Analysis • Data Analytics • Due Diligence • Closing Post-Closing •
100th Latitude for NetJets
NetJets has taken the 100th delivery of their Cessna Citation Latitude, and waiting on 25 more. "We're looking forward to continuing our relationship with Textron Aviation with this milestone delivery" said Adam Johnson, NetJets’ Chairman & CEO. "We are committed to providing our owners with exceptional service and a seamless travel experience and look forward to continuing to expand our industry-leading fleet." This latest delivery will increase NetJets' current fleet of over 250 Cessna aircraft, which includes the Citation Excel/XLS, Citation Sovereign and Citation X www.netjets.com
Dassault Buys RUAG's FBO’s
RUAG International has agreed to sell both its Geneva and Lugano facilities to Dassault Aviation who will acquire all shares of RUAG Business Aviation AG, including all 73 members of staff at the Geneva site as well as the 14 members of staff at the Lugano site. “The acquisition of the RUAG sites in www.AVBUYER.com
For aircraft sellers, the top-five key areas are:Aircraft Audit • Data Analytics • Tailored Marketing • Pre-Sale Due Diligence • Closing • Buying and selling a private aircraft represents a significant investment in time, money, energy and industry knowledge. It’s considerably more complex than people think, even for those with backgrounds in finance and aviation, where one mistake can result in hundreds of thousands of dollars lost. OGARAJETS has built a superlative team of aviation veterans and experts, with more than 200 years of combined industry experience, who apply their knowledge to specialty areas that directly impact aircraft transactions, from contract negotiation and administration to project management, to technical support and innovative marketing techniques. “Whether buying or selling an aircraft, OGARAJETS offers its clients an unparalleled level of trust, transparency and confidence that is all too rare in business today,” said Foster. “Since its founding, OGARAJETS has been recognized by colleagues and competitors alike for its integrity and its customer-first attitude. This legacy remains a guiding principle that is evidenced in all we do and experienced by every OGARAJETS client.”
www.ogarajets.com
Geneva and Lugano will allow Dassault Aviation to reinforce its footprint in Switzerland, a key place for business aviation in Europe; while consolidating Falcon maintenance activities controlled by the Dassault Aviation Group” said Eric Trappier, Chairman and CEO of Dassault Aviation www.dassault-aviation.com
FAI Aviation Names Brand Ambassador
FAI Aviation Group, a leading global provider of mission-critical aviation services, has named its first celebrity brand ambassador as former Formula One World Champion, Mika Häkkinen. Finnish born Häkkinen, nicknamed "The Flying Finn" was Formula One World Champion in 1998 and 1999, driving for McLaren. In his role as brand ambassador, Häkkinen will promote FAI’s services with a particular focus on Aircraft Charter and Management. FAI Aviation operates Germany's largest fleet of business jets. The Nuremberg headquarters is supported by a sales and support office in Dubai, offering operational advantages in the Middle East. The company also operates a satellite office in Miami in support of its sales and acquisition activities in the Americas www.fai.ag AVBUYER MAGAZINE Vol 23 Issue 8 2019
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PRODUCTS & SERVICES NBAA Develops Security Risk Assessment Process
This security risk assessment process, developed and produced by the NBAA Security Council specifically for business aviation professionals, provides a simple product for assessing risk in a variety of business aviationrelated areas. This assessment does not require significant security training or background, making it a useful tool across any organization. The instructions and format are designed to allow users from across an organization to be effective risk assessors with minimal additional training. It covers all aspects of aviation operations, from damage to assets and threats to personnel to identification and documentation vulnerabilities and public relations exposure www.nbaa.org
Planet Nine Celebrates Anniversary
Van Nuys-based Planet Nine Private Air (“Planet 9”), private charter operator and aircraft management company celebrated its first birthday last month. In the eleven months since it first took to the air it has touched down in 262 different airports with its Dassault Falcon 7X fleet. Its longest charter routes have connected Tokyo, Japan with Dundee in Scotland and Washington Dulles International with Tahiti in the South Pacific www.flyplanet9.com
P&W to Invest $45M in Florida Facility
Pratt & Whitney is investing as much as $45 million over two years to convert its South Florida enginebuild center to perform overhauls. Joe Sylvestro, vice president of aftermarket operations, said investment in converting the West Palm Beach facility from geared turbofan engine production to overhaul began in 2018 and ends in 2020. Once in customers’ hands, Pratt engines provide a lucrative source of ongoing revenue from the sale of spare and replacement parts, and engine-maintenance and engineoverhaul contracts www.pw.utc.com 126 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Oriens Secures 3 Delivery Positions for PC-24
Oriens, the exclusive UK and Ireland sales distributor and Authorised Pilatus Centre, headquartered at London Biggin Hill Airport, has already sold one of the three positions available for the PC-24 Super Versatile Jet. Prospective customers still have an opportunity to order and fully customise the next available positions, the first of which is in July 2020. The second available delivery slot is in mid-2021. Oriens’ first PC-24 was sold to a private UK customer, an existing PC-12 operator, CEO Edwin Brenninkmeyer confirmed. “Customers interested in the other two are encouraged to commit with deposits and spec their interiors in good time.” www.0riensaviation.com
PPG Solaron UV Protection
PPG has developed breakthrough technology for aircraft windows that significantly blocks harmful ultraviolet (UV) radiation and highenergy visible (HEV) light to help protect aircrews, passengers and aircraft interiors from solar radiation. PPG windows with PPG SOLARON BLUE PROTECTION UV+ blocking technology block 99% of UVA and UVB radiation and more than 50% of HEV (blue) light, the company claims www.ppgaerospace.com
Rolls-Royce use 'snakes on a plane' for Engine Repair
Rolls-Royce is increasingly turning to robotics to effect repairs on parts of an engine that are otherwise inaccessible without tearing it down. Working with partners including the University of Nottingham, the UK-headquartered firm has developed a pair of continuum designs, more simply known as snake robots, to access an engine's interior. FLARE – or Flame Spray Adder for In-situ Patch Repair of Aero-Engine Combustors, is a pair of robots designed to enter the combustor, examine the liner for damage and then add a patch using ceramic material melted with a 3,000°C (5,430°F) flame www.rolls-royce.com www.AVBUYER.com
Products & Services August.qxp_Layout 1 18/07/2019 13:01 Page 4
PRODUCTS & SERVICES Sparfell Acquires LaudaMotion
The Swiss-based Sparfell Aviation Group has announced its recent acquisition of LaudaMotion Executive GmbH. Headquartered in Vienna, LaudaMotion Executive holds an Austrian AOC and operates a fleet of 13 Philip G. Queffelec (left) and Edward Queffelec business jets primarily comprised of Bombardier business aircraft. As part of Sparfell Aviation Group, LaudaMotion Executive’s 60 employees and all operations will be managed by Edward Queffelec, CEO of Sparfell Airways. “Through the acquisition of LaudaMotion Executive, Sparfell Aviation Group is now able to offer our clients private jet charter, consolidating our offering to provide the turn-key solution they expect,” says Edward Queffelec. “We could not dream of a better partner to achieve this than LaudaMotion Executive, an IS-BAO-certified operator with more than 15 years of experience in aircraft operation.” “Niki Lauda’s expertise, reputation and precision were legendary, both in Formula One and in aviation,” says Philip Queffelec, Chairman of Sparfell Aviation Group. “Having founded three airlines, we are honoured to uphold his legacy and consider it our duty to pay respect to the company that carries his name.” www.sparfell-partners.com
StandardAero Provides PT6A & PW123 Support Services
StandardAero recently signed a multiyear agreement with Island Aviation Services Limited (IASL) to provide support for the Pratt & Whitney (P&W) PT6A-27 and PW123 turboprops. These engines power the fleets of Twin Otter and Dash 8 aircraft operated by Maldivian, the national airline of the Maldives. StandardAero supports the global P&W PT6A operator community from four DOFs located in North America, Europe, Africa and Australasia, backed up by a global network of seven service centers and over twenty dedicated mobile repair technicians. With more than 25 years of reliable turboprop experience, StandardAero provides operators with a nose-to-tail suite of services, including repair capabilities, engine exchanges, rentals and Engine Condition Trend Monitoring (ECTM) analysis www.standardaero.com
SR Technics Earns Thai Certification
A leading MRO service provider, SR Technics, announced that the Civil Aviation Authority of Thailand (CAAT) has extended an airworthiness certificate for component maintenance to SR Technics Malaysia.
www.AVBUYER.com
The certification was granted after an auditing process that SR Technics had passed and is valid for three years. It supplements the MRO supplier’s existing airworthiness certifications for component maintenance of over 800 part numbers by authorities such as the FAA, EASA and the Civil Aviation Administration of China (CAAC) www.srtechnics.com
UAS Awarded for BizAv Innovation
Leading global trip support solutions provider, UAS International Trip Support (UAS) has been acclaimed winner of the Innovation in Business Aviation Category at the 2019 fourth annual Sapphire Pegasus Business Aviation Awards. The award is the fourth endorsement for UAS at the awards, which recognize excellence in the EMEA region. In 2018, UAS won the title of Service Provider of the year; while CoOwner/Founder and Executive President Mohammed Husary scooped the Lifetime Achievement Award. In 2016, UAS was awarded the accolade for Charity Effort for its CSR activities www.uas.aero
Vista Global Launches Private Aviation Marketplace
Vista Global has announced the creation of XO, the global digital marketplace for private aviation. The launch of XO, powered by JetSmarter technology, marks the beginning of a new concept for private aviation customers. Built by combining the trusted operational and customercentric expertise of XOJET with the speed and convenience of technology originally developed by JetSmarter, the new brand will provide elevated services for On- Demand private jet travel. In the past, business aviation customers would have to navigate this complex On-Demand market with no centralized platform, they will now be able to fly anytime, anywhere, at a moment’s notice through the XO app or online. As demand moves towards digital solutions, customers will be able to: Choose the best membership option to serve their travel needs, from occasional flyers to those traveling more regularly, XO offers more flexibility than ever before to address the $11B per year global market of On-Demand business aviation www.vistaglobal.com AVBUYER MAGAZINE Vol 23 Issue 8 2019
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SA20 ExhibitorAd02_AvBuyer_205mmx270mm.pdf 1 3/7/2019 5:33:31 PM
Jetsense Aviation G200 August.qxp_Empyrean 16/07/2019 10:34 Page 1
S H O W C A S E
Call for Reduced Asking Price 2000 Gulfstream G200 Serial Number: 5 Registration: N505GA Airframe TT: 6855 Landings: 4129 Fresh 12/24/48 Month Inspections and ADS-B Out Installation (2020 Compliant) Part 135 Operated & Maintained Engines on ESP Gold APU on MSP Enrolled on Collins Avionics Program (CASP) ATG-5000 Wi-Fi 16C Inspection completed by Gulfstream in 2015 Airframe Maintenance Tracking - Enrolled on CAMP Engines Left engine Right engine Description: Pratt & Whitney Pratt & Whitney PW306A PW306A S/N: PCE-CC-0344 PCE-CC-0345 THSN: 3345.6 Hours 3345.6 Hours TCSN: 1858 Cycles 1858 Cycles TSO: 2654.4 Hours 2654.4 Hours TSHS: 274.6 Hours 274.6 Hours Program ESP Gold ESP Gold APU Description: Honeywell GTCP36-150(W) S/N: P-111 TTSN: 2667 Hours Program MSP Avionics • Collins Proline IV with 5-upgraded EFIS Tubes • Collins ICC-4005 Integrated Avionics Processor
Sub-system • Dual Collins FCC-4004 Autopilot • Dual Collins VHF-422 Comm’s w/8.33 Spacing • Dual Collins VIR-432 Nav’s • Dual Collins ADF-462 ADF’s • Dual Collins DME-422 DME’s • Dual Collins TDR-94D Transponders • Dual Universal UNS-1C FMS’s w/GPS • Dual Collins RTU-4220 Radio Tuning Units • Dual Collins AHC-85E Attitude Reference System • King KTR-950 HF Radio • Collins ALT-4000 Radio Altimeter • Dual Collins Air Data Systems • AI-804CE Standby Attitude Indicator General Specifications Seating 2/8 Baggage (CuFt Ext/Int) 125/25 Cabin Height (Ft) 6’3” Cabin Width (Ft) 7’2” Cabin Volume (CuFt) 1,093.66 Seats Full Range (NM) 3,052 Balance Field Length (Ft) 6,435 Landing Distance (Ft) 3,323.78 Interior Configuration Dual Club Number of Passengers Eight (8) Galley Location Forward Lavatory Location Aft Exterior Base Paint Color - Matterhorn White Accent Colors - Dark Blue Tail and Winglets, with Blue and Gold Striping
Jet Sense Aviation, LLC Contact: Brett Forrester Contact: Pat Mitchell 1 Golfview Rd, 2nd Floor, Lake Zurich, Illinois 60047 www.AVBUYER.com
Tel: +1 (847) 550 4660 Email:
[email protected] Email:
[email protected] www.jetsenseaviation.com
AVBUYER MAGAZINE Vol 23 Issue 8 2019
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Jetsense Aviation Hawker 400XP August.qxp_Empyrean 16/07/2019 10:35 Page 1
S H O W C A S E
2005 Hawker 400XP Serial Number: RK-429 Airframe TT: 2001.9 Landings: 1859 Recent Hot Section (215.6 TSHS) Rohr Thrust Reversers 2020 Compliant (Garmin ADS-B Out Upgrade) Freon Air Conditioning Wing Ice Inspection Light Anti-Skid Brakes Concord Lead Acid Battery Belted Lavatory Collins 3-Tube EFIS Dual Collins FMS 5000 Airframe Maintenance Tracking - Enrolled on CAMP Engines Left engine Right engine Description: P&W JT15D-4 P&W JT15D-4 S/N: PCE-JA0644 PCE-JA0647 THSN: 2001.9 Hours 2001.9 Hours TCSN: 1859 Cycles 1859 Cycles TSHS: 215.6 Hours 215.6 Hours TBO: 1598.1 Hours 1598.1 Hours Avionics EFIS: 3-Tube Collins FIS-870 Autopilot: 1 Collins APS-4000 Flight Director: 2 Collins APS-4000 Communication Radio: 2 Collins VHF-422C Navigation Radio 2 Collins VIR-432 Transponders: 2 GTX-3000 ADS-B Automatic Direction Finder: 1 Collins 462 Distance Measuring Equipment: 1 Collins DME-442
Radar Altimeter: 1 Collins ALT-55B Weather Radar: 1 TWR-850 Color Doppler Radar Flight Management System: 2 Collins FMS 5000 Air Data Computers: 2 Collins ADC-850D Cockpit Voice Recorder: 1 Fairchild FA2100 Global Positioning System: 2 Collins GPS 4000 GPWS: 1 Honeywell MK V EGPWS TCAS: 1 Collins TCAS-4000 TCAS II w/ change 7 Radio Magnetic Indicator: 2 SDU-640A Emergency Locator Transmitter: 1 Artex C406-2 ADS-B Out: 1 Garmin Out General Specifications Seating 2/8. Baggage (CuFt Ext/Int) 25/31 Cabin Height (Ft) 4’10”. Cabin Width (Ft) 4’11” Cabin Volume (CuFt) 368.34. Seats Full Range (NM) 1,150. Balance Field Length (Ft) 4,485 Landing Distance (Ft) 3,837.93. Average Block Speed (Kts) 439. Normal Cruise Speed (Kts) 439. Interior Number of Passengers: Eight (8) including Belted Lav. Galley Location: Forward Lavatory Location: Aft (Belted) Exterior Base Paint Color: Matterhorn White Stripe Colors: Blue and Grey Reduced Asking Price of $1,375,000 with no engine program (nearly 1600 engine hours remaining before overhaul) OR Reduced Asking Price of $1,495,000 fully enrolled on the JSSI Engine Program with 100% coverage of Overhaul, Hot Sections and Life-Limited Components
Jet Sense Aviation, LLC Contact: Brett Forrester Contact: Pat Mitchell 1 Golfview Rd, 2nd Floor, Lake Zurich, Illinois 60047
130 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Tel: +1 (847) 550 4660 Email:
[email protected] Email:
[email protected] www.jetsenseaviation.com www.AVBUYER.com
Jetsense Aviation Lear 60XR August.qxp_Empyrean 16/07/2019 10:40 Page 1
S H O W C A S E
Asking $2,995,000 2007 Bombardier Learjet 60XR Serial Number: 0319 Registration: N814TS Airframe TT: 5254 Landings: 3706 Fresh 12 Year Inspection Completed at Flying Colours CUSTOM 8-Passenger Interior Offering More Leg Room Part 135 Operated and Maintained Turnkey And Ready To Fly Three (3) Rotor Brakes TCAS II w/Change 7 ATG-5000 WiFi ESP Gold Fresh A, B and C Inspections Completed August 2018 Airframe Maintenance Tracking - CAMP Certification - FAR Part 91 / Part 135 Engines Left engine Right engine Description: Pratt&Whitney Pratt&Whitney PW305A PW305A S/N: PCE-CA0497 PCE-CA0496 THSN: 5166 Hours 5166 Hours TCSN: 3640 3640 Program: ESP GOLD ESP GOLD APU Description: Sundstrand T-20G-10C3A S/N: SP-E070459 THSN: 1439 Hours TCSN: 3093 Overhaul Date: May 2015
Avionics EFIS 4-Tube Collins Proline 21 AFD-3010 FMS 2 Collins FMS 5000 TCAS 1 TCAS-94D TCAS II w/ Change 7 ADC 2 Collins ADC-850D AHC 2 Collins AHC-85E NAV 2 Collins VIR-432 DME 2 Collins DME-442 ADF 2 Collins ADF-462 Entertainment In Flight Status Monitor 1 Airshow 410 DVD System 1 SONY Cabin Entertainment System Fwd & Aft LCD Monitors 2 Features • ATG-5000 WiFi • RVSM Capable • Precise Pulselight System • Dual Concorde Lead Acid Batteries • TIA Microwave Oven • 115 VAC Outlets Interior Number of Passengers Eight (8) Fwd Refreshment Center Aft Belted Lav Other Notable Features: 2014: Fireblocked, Ivory Leather with Aft Side Facing Belted Lav Seat with Flushing Potty, FourPlace Executive Club Chairs w/ Two Executive Foldout Tables. Forward Three Seat Divan, Forward Galley Has Been Shortened Along with the Removal of the Arm Rests to Provide 11 Extra Inches of Leg Room Exterior Base Paint Color(s) Matterhorn White (TOP) / Royal Blue (BOTTOM). Stripe Color(s) Red
Jet Sense Aviation, LLC Contact: Brett Forrester, Pat Mitchell 550 N. Rand Road, Lake Zurich, Illinois 60047 Tel: +1 (847) 550 4660 Email:
[email protected] Email:
[email protected] www.jetsenseaviation.com www.AVBUYER.com
Gantt Aviation, Inc. Contact: Jay Gantt 302 Toledo Trail, Georgetown TX 78628 Tel Office: +1 512 863 5537 Email:
[email protected] www.ganttaviation.com AVBUYER MAGAZINE Vol 23 Issue 8 2019
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AvionMar Gulfstream G 450 / XLS+ August.qxp 17/07/2019 15:06 Page 1
S H O W C A S E
Asking $6,900,000
2013 Cessna Citation XLS+ Serial Number: Registration: Airframe TT:
6127 OE-GMS 1915
• EASA certified • Airframe on ProParts • Low Time • Aircell Aviator 300 Internet System • New carpet in 2018 • Location: Austria • 7 Passengers Configuration Engines Pratt & Whitney PW545C APU Honeywell RE-100 (XL) – Total Time: 1275 hrs
Avionics - Collins Pro Line 21 Avionics System - Dual Comm - Dual Nav - Dual DME - Dual Mode S Diversity Transp. - Dual Collins FMS-3000 (WAAS) - HF-9031A with SELCAL (Provisions Only) - Collins TCAS 4000 TCAS II with Pulse Light System Interior & Entertainment Six (6) pedestal seats in a single club configuration and a right-hand forward side-facing seat, LCD Video Monitor located in RH forward cabinet, Rosen Flight View Moving Map System with flight deck controller, Left-hand forward refreshment center, Right-hand forward closet, non-belted flushing externally serviceable toilet, aft cabin removable left-hand side-facing belted seat, executive tables, aft cabin bulkhead closet with sink
Exterior Overall Matterhorn white with brown, gold and silver platinum stripes Additional Equipment & Information Options installed - Aircell Aviator 300 Internet System - Three 110V AV Universal Outlets - 10.4“ LCD Monitor in R/H Fwd Cabinet - RosenView LX Moving Map System Additional Equipment - Collins IFIS-5000 IFIS - Enhanced Surveillance Transponder - CATII Apporach Operations - Certified for Steep Approaches - TCAS II Change 7 - Honeywell MK V EGPWS with Windshear Alerting - L3 FA2100 SSFDR - Citation Performance Calculator or CESNAV
Asking $14,500,000
2010 Gulfstream G450 Serial Number: Airframe TT: Landings:
4172 3,234 1,485
• Enhanced Vision System • Enhanced Navigation Package • Fully 2020 compliant – CPDLC, ADS-B Out, FANS 1/A • HSD (Satcom High Speed) • Wifi/Internet CNX-10 • Engines on Rolls Royce Corporate Care • APU on MSP • Honeywell HARP • Homebase: London - Luton
Engines Rolls Royce TAY611-8C APU Honeywell GTCP 36-150 –Total Time: 3,888 hrs Avionics • Honeywell Primus EPIC System • Honeywell GP-500 Flight Guidance Panel • Kollsman Enhanced Vision System (EVS) • Honeywell Head Up Display / Visual Guidance System • Enhanced GPWS with Windshear Detection • Triple Honeywell AZ-200 Air Data Modules • Triple Honeywell AV-900 Audio Panels • Triple MC-850 Multifunction Control Display Units • Triple VHF Navigation Systems • Triple VHF Communications Systems • Dual Honeywell RT-300 Radio Altimeter • Triple Honeywell NZ-2000 FMS • Triple Honeywell IR-500 LASEREF V IRS
AVIONMAR GmbH Stubenbastei 10/9 A-1010 Wien
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• Dual Honeywell GPS-90X Global Positioning System • L3 Communications Flight Data Recorder • L3 Communications Cockpit Voice Recorder • Honeywell RT- 951Traffic Alert Collision Avoidance System (TCAS-2000) • Honeywell WU-880 Color Weather Radar • Dual Mason CCD Cursor Control Devices • Dual Honeywell MRC-855A Modular Radio Cabinets Interior & Entertainment 14 (fourteen) passenger configuration The forward cabin features a four place double club with pull out tables, which can be turned into flat beds. The mid cabin area offers a four place conference group opposite a credenza. The aft cabin features a right side four place divan opposite a two place club. Forward Galley, Aft Lavatory Exterior Airframe overall Matterhorn White with Golden Bottom paint
Cell: +43 (0)664 548 31 39 Office: +43 (0) 4272 44 7 66 Email:
[email protected] www.avionmar.com www.AVBUYER.com
AvionMar Global 5000 / Challenger 605 August.qxp 17/07/2019 15:08 Page 1
S H O W C A S E
price $27,000,000
2014 Bombardier Global 5000 Serial Number: Registration: Airframe TT: Landings:
9627 HB-JRI 2080 679
• One Swiss Owner since new • Impeccably Maintained • Bombardier Smart Parts Plus • Engines on Rolls Royce Corporate Care • APU on MSP • 14 Passengers configuration • Location: Switzerland
Engines Rolls Royce BR700-A2-20 APU Honeywell RE220(GX) – Total Time: 1483 hrs Interior 14 passenger configuration with cream leather and high gloss wood. Forward 4-place club, mid-cabin 4-place conference group opposite a credenza & aft two 3-place berthable divans Galley equipment: forward galley with high temperature oven, cold air food & beverage chiller, divided ice drawer, coffeemaker, microwave oven, china, flatware, steamware storage stainless steel sink, pullout work surfaces & 10.4-inch galley touch screen LCD monitor Removable mid-cabin bulkhead with pocket door, 115-volt AC/60Hz outlets
Exterior Matterhorn white with turquoise and pink stripes Avionics ADF: Dual Rockwell Collins NAV-4000 Altimeter: Encoding Autopilot: Rockwell Collins IFCS Avionics Package: Rockwell Collins Pro Line Fusion Communication Radios: Triple Rockwell Collins VHF4000 w/8.33 spacing CVR: L3 FA2100 DME: Dual Rockwell Collins DME-4000 EFIS: Rockwell Collins AFD-6520 4-tube FDR: L3 FA2100 Flight Director: Rockwell Collins IFCS FMS: Triple Rockwell Collins IPC-6210 GPS: Dual Rockwell Collins GPS-4000S Hi Frequency: Dual Rockwell Collins HF-9031A w/SELCAL
Asking $10.5 million
2011 Bombardier Challenger 605 Serial Number: Airframe TT: Landings:
5856 3,570 1,148
• The aircraft will be sold including 2020 upgrades and complete fresh 96 month inspection! • The upcoming 96 month inspection would be a great opportunity to customize the interior! • One owner since new • Exterior in great condition • The aircraft is enrolled on Smart Parts Plus • The engines are fully covered by GE On-Point • APU on MSP • Aircraft enrolled on October 2011 Maintenance tracking via Lufthansa Bombardier • 10 Passengers Configuration
Engines GE CF-34-3B APU Honeywell GTCP36 - 150. APU Hours: 2,316 hrs Interior New 2011 Having a 10 Passengers + Flight Deck Crew + Jump Seat Configuration with Private Large Aft Lavatory and with Forward Galley. The Forward Cabin has 4 Chairs in Club with Pullout Tables and the Aft Cabin has a 4-Place Sidefacing Divan opposite 2 Chairs in Club with a Pullout Table Exterior Matterhorn White with Gamma Grey, Blue and Titanium Silver Features Provisions for CPDLC and Change 7.1 Mod to TCAS System, EASA Certification, Runway Awareness Advisory System (RAAS)
AVIONMAR GmbH Stubenbastei 10/9 A-1010 Wien
www.AVBUYER.com
Avionics •Collins 4-Tube 10x12-Inch / Pro Line 21 •Comm: Dual Collins w/8.33 kHz •Weather Radar: Digital Color RTA 854 •COMM: CMU 4000 •Cockpit Voice Recorder: CVR L3 FA2100 (120 Minute) •DME: Dual Collins DME-4000 •EFIS: Collins 4-tube 10x12-Inch LCD •Flight Data Recorder: FDR L3 FA2100 (25-Hour) •Flight Director: Collins 4-tube 10x12-inch •Flight Phone: Iridium •IRS: Dual IRS •Navigation Radios: Dual Pro Line 21 •TAWS •Dual VOR/ILS/MKR Nav Receivers •TCAS: Collins TCAS-II with Change 7.1 Modification •Transponder: TDR 94D Dual Enhanced Mode S •ADF: Dual NAV-4000
Cell: +43 (0)664 548 31 39 Office: +43 (0) 4272 44 7 66 Email:
[email protected] www.avionmar.com
AVBUYER MAGAZINE R Vol 23 Issue 8 2019 R
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Dassault Falcon 7X August.qxp 18/07/2019 15:40 Page 1
S H O W C A S E
2012 Dassault Falcon 7X Serial Number: Registration: Airframe: Landings:
162 N495ZC 1750 1061
Engines #1 Engine PCE-CH0506: 1750 Cycles: 1061 #2 Engine PCE-CH0499: 1750 Cycles: 1061 #3 Engine PCE-CH0504: 1750 Cycles: 1061 Engine Type: Pratt & Whitney Canada PW307A - Enrolled on ESP Platinum APU APU Honeywell GTCP36-150(FN) s/n P-275 enrolled on MSP Gold Avionics & Connectivity EASy II+: WAAS-LPV; ADS-B Out; SVS; ADM; Dual Jepp. Charts; XM Graphical WX, CPDLC – FANS 1/A & ATN B1 Flight Management Systems (FMS) triple Honeywell EASy Central Maintenance Computer Honeywell EASy VHF Communications & VHF Data Radio – “VDR” triple Honeywell TR-866B VOR/ILS/Marker/GPS dual Honeywell DME Systems dual Honeywell DM-855 ADF Systems dual Honeywell DF-855 Mode S Transponder Systems dual Honeywell Color Weather Radar System Honeywell Primus 880 TCAS II System with Change 7.1 Radar Altimeter System dual Honeywell KRA-405B Enhanced GPWS with Windshear Honeywell EASy
Head-Up Guidance System (HGS) Rockwell Collins HGS-5860 Enhanced Flight Vision System (EFVS) Rockwell Collins EFVS-5860 High Frequency Communication Systems dual Honeywell KHF-1050 SATCOM Aero H+ / Swift Broadband Honeywell MCS-7120 w/ATG-5000 Micro Inertial Reference Units triple Honeywell Laseref V Voice and Flight Data Combined Recorder dual Honeywell AR-Combi ELT System with NAV Interface Honeywell Rescue 406AF Interior & Entertainment Beige leather seats, Beige lower sidewall, Pale Beige Ultra-leather headliner, Black Pearl Satin plating (Brushed), Birdseye Maple veneer with dark stain replaced by DAS-ILG August 2016. Seating: 14 passengers: L/H forward galley opposite 71 inch Crew compartment, 3rd flight deck seat, 4-place forward club, 4-place midcabin dining group with opposing credenza, two aft 3-place divans, forward and aft lavatories Exterior Overall White with Orange, Medium Blue and Green custom accent stripes (DAS-ILG August 2016) FOR IMMEDIATE SALE
www.dassaultfalcon.com
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Dassault Falcon Pre-Owned Department USA Tel: + (1) (201) 541-4556 E-mail:
[email protected] www.dassaultfalcon.com/preowned
www.AVBUYER.com
GainJet October.qxp 16/07/2019 14:31 Page 1
S H O W C A S E
VIP Boeing 737-400 LR With only genuine quick change Aux fuel tank system on the market today (Available for Boeings & Other types) Serial Number: Airframe TT: Landings:
25423 47,578 Hours 34,487 Cycles
• Long Range “Quick Change” Auxiliary Fuel Tanks system installed • Quick, Line-Replaceable fuel tanks (LRTs) • Certified with an FAA STC. • Allows for up to 9-hour intercontinental flight range • Flexibility to adjust configuration to suit the mission: • Add more tanks for longer range • Remove tanks for more cargo space • More info, please visit www.longrange.aero • Full cabin refurbishment in 2014 • 64 passenger VIP configuration • Maintained and utilized to the highest standards • More info, please visit www.gainjet.com/vip-boeing-b737-400-2 Engines Engine 1. CFM56-3C1. ESN: 725160 TSSV: 442 Hours CSSV: 182 Cycles
Engine 2. CFM56-3C1. ESN: 725369 TSSV: 442 Hours CSSV: 182 Cycles
APU Honeywell GTCP36-280B TSN: 21,878
Exterior Elegant and discrete livery
Cabin & Features Fully refurbished in 2014 64 passenger VIP configuration - ensuring lavish comfort for all passengers. Seat pitch: 52 inches 3 high-quality lavatories 30 AC power outlets in the cabin Nespresso Machine
Avionics Triple VHF-Comm w/8.33 kHz spacing ACARS w/provisions: Dual Arinc758 CMU Solid State Cockpit Voice recorder System (2hrs recording) Control Surface Position Indicator Aspirated TAT probes for FMC Operation
Gainjet Aviation Group Vouliagmenis Ave. & 1 Themistokleous St. Glyfada. 16674. Athens, Greece www.AVBUYER.com
Contact: Tel: +30-210-963-6101 Email:
[email protected] www.gainjet.com
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Mesotis August.qxp 16/07/2019 14:32 Page 1
S H O W C A S E
1999 Cessna Citation Bravo Serial Number: Registration: Airframe TT: Landings:
550B-0865 OM-ATS 6703 6238
EU-OPS 1 Compliant • Engines on Power Advantage • Airframe on ProParts • On Cescom • New carpet • Interior partly refurbished • Paint touch-up • New de-icing boots • Universal UNS-1LW with LV/LPW monitor • Lifeport stretchers and oxygen distribution system
Engines Engines 1 / 2: 6393 / 6196.1 Cycles 1 / 2: 5991 / 5825 Avionics & Connectivity Honeywell Avionics Suite • COM 1 & 2 Honeywell KY196B • NAV 1 & 2 GS 1 & 2 Bendix-King KN53 • ADF Bendix-King KR87 • DME 1 & 2 DM441B • Marker KMR675 • FMS GNS-XLS • XPDR Mode S EHS MST67A • ENCODER 1 & 2 AZ850 • Radio Altimeter Collins ALT55B • Wx-Radar Honeywell Primus 660 • Autopilot IC 600 • TCAS II change 7 TPU 67A
• EGPWS Honeywell Mk. VII • SSFDR Fairchild 980-4700-025 • CVR L3 Communications A 200S • ELT Artex C406-2 • Audio Intercom AvTech 5636-1 • EFIS / FMS Honeywell Primus 1000 Suite • FLT- & MFD Display Honeywell DU-870 Interior & Entertainment EXTRAORDINARY CABIN DESIGN Eight seats configuration: • One forward rear facing seat • Four place forward club • Two facing single seats • One belted lavatory seat Make Offer
2002 Cessna Citation Bravo Serial Number: Registration: Airframe TT: Landings:
550B-1040 OM-ATN 6363 5833
• EU-OPS 1 Compliant • 100% JSSI on Engines • Lifeport stretcher and oxygen distribution system • No damage history
Avionics & Connectivity Honeywell Avionics Suite COM 1&2 Honeywell KY196B NAV Antenna ADF Receiver KR87 DME Antenna Marker KMR 675 UNS FMS Control Display Unit NAV FMS Control Radio Altimeter Receiver/Transmitter Honeywell Primus 1000 Phase III Autopilot control PC-400 TCAS II GPWS/EGPWS Computer FDR/SSFDR
Mesotis Jets Thomas Thums Fleischmarkt 7/3 1010 Vienna Austria
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Location Austria Price: Please Call
Mob: +43-67-6590-0082 Tel: +43-1-533-757216 E-mail:
[email protected] www.mesotisjets.com
www.AVBUYER.com
Swisspath Aviation August.qxp_Empyrean 16/07/2019 14:34 Page 1
S H O W C A S E
New price: $2,350,000 2009 Piaggio P-180 Avanti II Serial Number: Registration: Airframe TT: Landings:
1196 HB-LUS 1,210 700
• EU Import compliant • No known damage history • Two Owners Since New • VIP Corporate Interior • Always Hangared • Cockpit privacy curtain • 6 Month Inspection + 200 Hrs Inspection > March 2018 • Interior Refurbishment 2015 • New Exterior paint 2015 Engines PWC PT6A-66B (850hp) 3,600 Hour TBO Engine #1 (S/N PCE-RW0124/3072196-01) / TTSN: 1,210 / CSN: 700 Engine #2 (S/N PCE-RW0123/3072196-01) / TTSN: 1,210 / CSN: 700 Avionics & Connectivity Proline 21 Rockwell-Collins RMS: RTU-4200, CDU-3000 COMs: dual Rockwell Collins VHF-4000 w/8.33 kHz spacing VHF/ADF NAV: Rockwell Collins NAV-4000 VOR/ILS/MKR/ADF receiver VHF NAV: Rockwell Collins NAV-4000 EFIS: Rockwell Collins 3-Tube Integrated System FLIGHT GUIDANCE: Dual Rockwell Collins FGC-3003 Autopilot
RADAR: Rockwell Collins RTA-852 FMS/GPS: Rockwell Collins FMC-3000 Maps Overlay TCAS-4000 Data Link 3rd VHF-4000 + CMU TDR-94D Mode S GPWS Interior & Entertainment 7 place interior + 1 Belted Lavatory seat 4 single seats in club arrangement 1 LH forward facing single seat 1 RH forward 2-place divan with drawer Aft fully enclosed flushing lavatory 110VAC power outlets in cockpit and passanger cabin Dual foldout executive table, pyramid cabinet with ice chest and miscellaneous storage Mood / dimmable lighting Exterior Overall White with grey/silver registration
Swisspath Aviation
www.AVBUYER.com
Tel: +41 44 454 2626 Email:
[email protected] www.swisspath.com
AVBUYER MAGAZINE Vol 23 Issue 8 2019
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FROG Flugservice GmbH August.qxp_Empyrean 16/07/2019 10:41 Page 1
S H O W C A S E
Price: US Dollar 1,500,000 net 2001 Citation 525 Citation Jet 1 Serial Number: 525-0435 Registration: D-IAWU Airframe TT: 3500 Landings: 3150 • EASA compliant and taxed in the EU • No known damage history • Two Owners Since New • VIP Corporate Interior • Always Hangared • All maintenance and mandatory service works done, comes with fresh Doc 10 inspection at delivery • Interior Refurbishment 2019 Engines Left: approximately 3400 h since new, on TAP Elite Blue Right: approximately 3550 h since new, on TAP Elite Blue Avionics/Radios Collins Proline 21 FD/AP (2-Tube EFIS) Dual Garmin GTN-650 Comm/Nav/GPS, 8.33 kHZ spacing, will be delivered with LPV capability Universal UNS-1K FMS Collins RTA-800 Weather Radar King KR-87 ADF King KN-63 DME plus additional Chelton DM441B DME Honeywell TPU-66A TCAS class 1 Dual Garmin GTX 330D “S” Diversity Transponders, will be delivered ADSB-out certified Artex C406-2 ELT Collins RTA 800 WX Radar
Additional Equipment RVSM and MNPS compliant, Thrust attenuators, oxygen system, crew oxygen masks, Standby combi flight instruments, fully JAR (commercial) compliant, Ski Tube Extension, 50 Cu. Ft. O2 System, Monorail Sunvisors, Eros Oxygen Masks & Goggles, Lead Acid Battery, Engine Sync, Angle of Attack, Digital Clock, Headrest Pillow Slipcovers, Navigation Chart Cases Interior Aircraft will be sold with fully overhauled interior. Four lateral tracking chairs, deluxe forward refreshment center, 2 executive writing tables, seats finished in beige leather. Forward galley. Side facing 5th seat in front of main exit, Aft lavatory with vanity and flushing toilet, not approved as 6th seat. Cabinetry in walnut high gloss finish. New carpet Exterior Overall cream white with small red and black accent stripes. Freshly polished at delivery Maintenance and Registry Aircraft on CESCOM, Engines on TAP Elite Blue, Enrolled in Pro Parts. No damage history. All AD and Mandatory SB to date completed, fresh annual inspection, Document 10 will be done before delivery. Complete EASA registration with decal tail numbers
FROG Flugservice GmbH Dr. Martin Altmann, CEO POB 5253, D-51491 Overath, Germany
138 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Tel: +49-2204-74033 Mob: +49-170-6778833 Email:
[email protected]
www.AVBUYER.com
AirGo May.qxp 16/07/2019 10:42 Page 1
Special AOCPackage Package Special AOC
EMBRAER PRAETOR 600 NEW
Special AOC Package
Embraer © Pictures for illustration only – colors and paint schemes at your choice
Commercially operated in German AOC with Charter Income – Smart Investment. Mono Fleet Concept. Fast and easy enrolment: • No enrolment cost • Experienced pilots Ask for Operational Proposal – Just buy and fly! FEATURES 4,018 NM / 7.440 km Range London – New York or London – Dubai non-stop
4
Fly-by-Wire & Auto Throttle & Auto Brake 4 • LPV approaches, ADSB out, CPDLC over ATN (EASA Link2000+) and FANS 1/A+ CPDLC Package • Lightning •! Detection System • Predictive Wind Shear System (PWS) & Vertical Weather (VWX) ••!Surface Management System ! Cockpit • Paperless ! • Steep Approach (approved at London City Airport) • !Provisions ! for EVS - Enhanced Vision System & for! HUD !- Head Up Display / Installation at owners wish
! ! ! ! CABIN f ! • !VIP – 9 Seat Cabin Arrangement in your color specifications 4 passenger club arrangement plus 2 club seats plus 3-place-divan, f • Galley with oven/microwave, coffee maker, refrigerator and CA seat
! • Fully enclosed lavatory and wardrobe/cabin baggage storage • Stone floor on entrance/galley and lavatory floors •! Cabin Management System plus Upper Tech Panel • !Enhanced • Heating! system for Baggage Compartment • Iridium! Satellite Phone ••!Leather, panels and woodworks according your color specification ! ! ! ! ! ! !
! ! !
www.AVBUYER.com
FLY SMART: no need for a heavy jet for long range due to fuel-efficient engines and fine-tuned aerodynamics. That makes the PRAETOR 600 the greenest business jet and a game changer. The PRAETOR 600 amazes passengers with its inviting cabin with a 1.83 m ceiling, a flat floor, low cabin noise level and smooth ride by a special turbulence-reduction feature. c With a fully equipped galley, convenient restroom with wardrobe and cabin cluggage storage, seats transforming to 4 flat beds the PRAETOR 600 is the ideal airplane to be used for long flights but also lands on short runways like La Môle St. Tropez. The state-of-the-art airliner equipment assures a safe flight with highest technology standards. AirGO SERVICES The supervision of the process from purchase of your PRAETOR 600 to the start of operation is a complementary service included in the AirGO management contract. Under the mandate the AirGO CAMO is fully responsible for maintenance tracking and supervision. The 24-h Sales & OPS Team organize your flight as well as third party charter; schedules crews and takes care of your special wishes while the approved AirGO Training Organization takes care of continuous pilot training. AirGO is committed to sustainability. We work only with the most efficient aircraft in its class as well as taking part in programs off-setting CO2, promoting SAJF (Sustainable Alternative Jet Fuel) and working towards environmentally friendly practices in all areas of service. AirGO avoids the use of plastic wherever possible and promotes to remove plastic packaging completely. AirGO Private Airline GmbH Am Finther Wald 5833 D-55126 Mainz / Germany
Call: +49 6131 540 63 12 Write:
[email protected] www.airgo.de
Fly smart – Fly Avanti AVBUYER MAGAZINE R Vol 23 Issue 8 2019 R
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S H O W C A S E
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M A R K E T P L A C E
Bombardier Challenger 350
Milcham Aviation Price:
Please Email
Year:
2019
S/N:
207XX
Reg:
TBD
TTAF:
00
Location: USA
Bombardier Challenger 650
Milcham Aviation Price:
Please Email
Year:
2019
S/N:
61XX
Reg:
N-TBD
TTAF:
00
Location: USA
Bombardier Global 5500
Milcham Aviation Price:
Please Email
Year:
2020
S/N:
TBD
Reg:
N-TBD
TTAF:
-
Location: USA
Hawker Beechcraft 900XP
Excel Aviation Price:
Please Call
Year:
2009
S/N:
HA-0099
Reg:
-
TTAF:
858
Location: Cyprus
Boeing 737
Zaher Deir Price:
Please Call
Year:
1981
S/N:
22431
Reg:
VP-CAQ
TTAF:
9674
Location: UK
140 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Tel: +1 (305) 452 62610 E-mail:
[email protected] BRAND NEW BOMBARDIER CHALLENGER 350 DELIVERY MIDDLE 2019. FRACTIONNAL OWNERSHIP 1/6 AT 3.990.000,00 USD. FULL OPERATION INCLUDED. UNDER PUBLIC TRANSPORTATION COMPANY. ANNUAL OPERATION FEES 550.000,00 USD PER YEAR OR 46.000,00 PER MONTH, 125 HOURS FLIGHT ON BOARD INCLUDED (crew, expenses, fuel, taxes, catering, maintenance, landigs fees ect....). DEPRECIATION 4% PER YEAR. POSITIONNING 2 HOURS FREE AROUND HOME BASE. FLEET RENEVAL EVERY 4 YEARS. NO ADDITIONNAL CHARGE. TRADES CONSIDERED CONTACT US FOR MORE INFORMATIONS
Tel: +1 (305) 452 62610 E-mail:
[email protected] BRAND NEW BOMBARDIER CHALLENGER 650 DELIVERY MIDDLE 2019. FRACTIONNAL OWNERSHIP 1/4 AT 8.900.000,00 USD. FULL OPERATION INCLUDED. UNDER PUBLIC TRANSPORTATION COMPANY. ANNUAL OPERATION FEES 900.000,00 USD PER YEAR OR 77.000,00 PER MONTH, 200 HOURS FLIGHT ON BOARD INCLUDED (crew, expenses, fuel, taxes, catering, maintenance, landigs fees ect....). DEPRECIATION 4% PER YEAR. POSITIONNING 2 HOURS FREE AROUND HOME BASE. FLEET RENEVAL EVERY 4 YEARS. NO ADDITIONNAL CHARGE. PRICE PER HOUR ON BOARD 6,200.00 USD ALL INCLUDED ( OPERATION DEPRECIATION .....) TRADES CONSIDERED. CONTACT US FOR MORE INFORMATIONS
Tel: +1 (305) 452 62610 E-mail:
[email protected] BRAND NEW BOMBARDIER GLOBAL 5500 DELIVERY 2020 FRACTIONNAL OWNERSHIP 1/4 AT 12.900.000,00 USD. FULL OPERATION INCLUDED. UNDER PUBLIC TRANSPORTATION COMPANY. ANNUAL OPERATION FEES 1.300.000,00 USD PER YEAR OR 110.000,00 PER MONTH, 200 HOURS FLIGHT ON BOARD INCLUDED (crew, expenses, fuel, taxes, catering, maintenance, landigs fees ect....). DEPRECIATION 4% PER YEAR. POSITIONNING 2 HOURS FREE AROUND HOME BASE. FLEET RENEVAL EVERY 4 YEARS. NO ADDITIONNAL CHARGE. PRICE PER HOUR ON BOARD 9,560.00 USD ( OPERATION DEPRECIATION .....). TRADES CONSIDERED. CONTACT US FOR MORE INFORMATIONS
Tel: +357 96 80 07 22 E-mail:
[email protected] Probably the lowest time Hawker 900XP on the market. Superb condition, VAT paid, based in Europe. Engines and APU on MSP Gold. CAMP Maintenance Tracking. Hangared. No damage History. ADS-B. TCAS II 7.0. RVSM. Total Landings: 401. Engine: Honeywell TFE 731-50R-1H. Avionics: Collins Proline 21 - Integrated Flight Control System. Interior: Seven (7) passenger interior. Forward LH galley w/microwave oven and coffee maker. Aft belted flushing Lavatory with sink. Inspection status: Annual Maintenance and Inspection performed February 2019. Please see brochure for more details
Tel: +44 (0)771 180 6585 E-mail:
[email protected] BOEING 737-200 ADVANCED ----- VP-CAQ S/N 22431/803 This aircraft was purchased new from Boeing as a B737-200 Advanced, delivered from Boeing in October 1981 on the Swiss registry. The VIP Completion was facilitated by Air Research Aviation in Long Beach, California, for the installation of the 19 passenger (plus four flight attendants) corporate interior and auxiliary fuel tanks. The final interior was completed in November 1982 and the aircraft entered service at that time. The original owner was owner operator by Petrolair System S.A. until 1997 when it was purchased and operated by the world renowned mogul Wayne Huizenga.
www.AVBUYER.com
P140-143.qxp 17/07/2019 13:00 Page 2
Gulfstream V
Dennison Aviation Price:
Make Offer
Year:
1999
S/N:
541
Reg:
N459BE
TTAF:
8642.6
M A R K E Tel: +1 (248) 701 9446 T E-mail:
[email protected] P L Beautiful 12 passenger aft galley G-V with foward crew rest A area. Owner has ADS-B and CPDLC upgrade scheduled. Will C make a great global aircraft. Engines on RRCC. Don't miss this E great aircraft!! Avionics: Seller has aircraft scheduled for ADS-B and CPDLC upgrades. Interior: 12 place executive interior with forward crew rest area. Forward crew lav and refreshment center. ATG 4000 High Speed Internet. Additional Equipment: Cockpit equipped with EVAS
Location: USA
Gulfstream IV
Tel: +1 (248) 701 9446 E-mail:
[email protected]
Dennison Aviation Price:
Make Offer
Year:
1987
S/N:
1012
Reg:
N458BE
TTAF:
8339.9
Excellent G-IV for Sale! Very large aft galley with 14 place interior. Aircraft will make an excellent addition to charter fleet. Mid-Life's completed in 2017. Airframe: 72 Month C/W May 2017 Engines: LETT: 8154.5. RETT: 8160.8. Mid-Life's accomplished 4/2017. Avionics: Owner has ADS-B upgrade scheduled. Interior: 14 Pax Interior. Large Aft Galley. Forward and Aft Berthable Divan. High Speed Internet.
Location: USA
Cessna Citation Bravo
Price:
$2,345,000 VAT Paid ONLY TWO OWNERS SINCE NEWS
Year:
2006
S/N:
1125
Reg:
N28SP
TTAF:
3150
Location: France
Hawker Beechcraft 850XP
Price:
Make Offer
Year:
2006
S/N:
258800
Reg:
N269AA
TTAF:
2,385
Comandor Aviation Price:
Please Call
Year:
2012
S/N:
20334
Reg:
OY-SPB
TTAF:
4340
Location: Denmark
www.AVBUYER.com
LOW HOURS 3150 ENGINE POWERADVANTAGE + PROPARTS NEW PAINT 2018 ADSB OUT GTN750 GTN650 GARMIN GTX3000 HF SELCAL DUAL UNIVERSAL UNS-1L FMS ALWAYS TEXTRON MAINTAINED ALWAYS HANGARED WEATHER DATA LINK -FLIGHT STREAM510
Exclusive Charter Service, Inc.
Location: USA
Bombardier Challenger 300
Tel: +33 (0) 613 285 077 E-mail:
[email protected]
Michel Soutiran
Tel: +1 (561) 948 2798 E-mail:
[email protected]
Airframe enrolled on Textron Pro Parts. Engines and APU enrolled on MSP Gold. Aircell ST-3100 Phone Equipped. Pulselight and Emergency Lighting Systems Equipped. Airframe: Total Landings Since New 1,475 Landings. Home Base West Palm Beach, FL. Maintenance Tracking Flight Docs. Certification Part 135. Avionics: The Hawker 850XP is equipped with an integrated, Pro Line 21 avionics suite. A general summary of this aircraft’s avionics suite is as follows (Unit Descriptions in bold indicate optional/added equipment). Entertainment: Display/ TV Monitor(s). Airshow System Cabin Audio/ Video System
Tel: +7 915 222 6868 E-mail:
[email protected] One motivated owner, all reasonable offers will be considered, one owner pristine aircraft. Engines; 2 Honeywell HTF7000 turbofans. 6,826 pounds thrust each, flat rated at ISA + 15 C Dual channel FADEC with trend monitoring. On-condition maintenance. Thrust reversers. APU: 1 Honeywell 36-150BD gas turbine. 4329 APU HRS. Avionics: • Rockwell Collins Pro Line 21 suite: • 4 LCD 10 x 12 inch display units • EICAS with system synoptics • Dual air data computer • Dual FMS-5000. Interior: • Forward Wardrobe Adjustable Shelves • Quiet Package • Baseline Galley Adjustable Shelves (in crew closet) • Premium Carpet Package (exchange)
AVBUYER MAGAZINE R Vol 23 Issue 8 2019 R
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M A R K E T P L A C E
Dassault Falcon 50
Jared Hekstra Price:
Please Call
Year:
1982
S/N:
080
Reg:
N711RA
TTAF:
9343.5
Location: USA
Hawker Beechcraft 800XP
Mohamed Awad Price:
Please Email
Year:
2005
S/N:
258719
Reg:
VP-BCW
TTAF:
3,136
Tel: +1 (616) 291 7003 E-mail:
[email protected] Landings: 5135. The Aircraft was on a Dassault OCIP maintenance program when it arrived at Contact Aviation. None of the OCIP block inspections have been performed since February 2018. The 2C inspection became due in June 2018. The Landing Gear overhaul became due in June 2018. It is unclear if the fuel tank inspection is due but there is reason to believe it is due also. The aircraft does not have ADS-B installed. Raptor Aviation is owed approximately $25,000. Unique One is owed approximately $8,000. Seller, Contact Aviation, is owed approximately $65,000. After auction, all liens will be satisfied, and purchaser will have free and clear access to this aircraft. Inspections can be made by appointment only.
Tel: +966 504 661 203 E-mail:
[email protected] JAL is proudly presenting this 2005 production Hawker 800XP. Equipped with the Collins Pro Line 21 avionics suite, featuring Autopilot System, FMS,... Entered the service on AUG 2005, since ever operating under SupportPlus (Pro Part/Pro Tech) / MSP Program together with CAMP maintenance tracking …
Location: UK
Cessna Citation 500
Ruthie Taylor Price:
Please Call
Year:
1973
S/N:
5000083
Reg:
N31LW
TTAF:
-
Location: USA
Piper Meridian
Oysterair Price:
$250,000 VAT Paid
Year:
2003
S/N:
4697158
Reg:
D-EPPG
TTAF:
1467.02
Location: UK
Agusta AW139
Eugene Okladnikov Price:
Please Call
Year:
2013
S/N:
-
Reg:
-
TTAF:
442,27
Location: Russian Federation
142 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
Tel: +1 (662) 226 2080 E-mail:
[email protected] Online Only Auction. 1973 Cessna 500 Citation Jet Aircraft. Tuesday, August 6, 2019 @ 12:00 Noon. This is a rare opportunity to own a dynamic single pilot jet aircraft! Purchased in 2006, this aircraft has been immensely enjoyed by the pilot and his family! Long Wing/2x GNS 430/EX500 MFD/DMI/ADF/Auto Pilot/HSI. Serial # 5000083, AFTT 7285 Engines. Weight - Less than 12,500lbs, Speed 301 MPH, Mode S Code 050642607/A34587. Engine - P&W Canada JT15D-1A (Turbo Fan). 10% Buyer's Premium in effect for this auction. Call 662-226-2080 or visit www.taylorauction.com for more information. MS Auction License #176
Tel: +44 (0)775 907 9979 E-mail:
[email protected] This is a truly unique and rare opportunity to be the proud co-owner of one of the most popular general aviation turboprop tourers available. The aircraft will cruise at 250 KTAS at 27,000 ft and fly high above the weather in cabin-pressurised comfort. 2 x 1/3 shares at 250,000 USD per share, plus fixed costs; or 1 x 1/2 share at 375,000 USD plus fixed costs. Fixed costs are £260 per flight hour (including fuel) and £1250.00 per month based upon 3 equity holders. Aircraft base: EGMD. EASA or FAA licence holders. EU VAT Paid. Maintained by Piper Germany. Low time engine. Low time propeller. Excellent condition. Hangared. 1999 kg AFM supplement. FAA or EASA training provided. High intensity LED landing and taxi lights. New engine blanks. Air conditioning
Tel: +7 495 150 3300 E-mail:
[email protected] Always hangared. Remedied defects, which usually occurring during the first 300 flight hours. Not based in the coastal climate, no corrosion. Interior in perfect condition due to low usage. Ergonomic interior. Airframe: Date entered service - 05.2013. Landings - 910 cycles. Seats 8. Configuration - VIP. Avionics: Honeywell Primus Epic System for visualization of flight and navigation data. Electronic Standby Instrument System (ESIS). Attitude and Heading Reference Systems (AHRS). Air Data Modules (ADM). Additional Equipment: Air collision avoidance system TCAS I KTA-970 Honeywell Bendix/King. Improved system of warning of dangerous approach to the earth EGPWS
www.AVBUYER.com
P140-143.qxp 17/07/2019 13:00 Page 4
Leonard
Bombardier Learjet 36A
Price: Year: S/N:
M A R K E Tel: +1 (806) 662 5823 T Hudson Drilling Email:
[email protected] P L Offer/Trade Learjet 36A, Long range capability, as configured 2,400 A nautical miles. Can be upgraded to 2,600 mile range. C 1977 Recent paint and interior, RVSM. E 36A-030
Reg:
N160GC
TTAF:
15,600
Competitively priced at US $1,375,000, may take trade on a King Air or a helicopter Would consider trade for KingAir 200/300
Location: USA
Tel: +1 (806) 662 5823 Email:
[email protected]
Leonard Hudson Drilling
BELL 412EMS
Price:
Offer
Year:
1981
S/N:
33017
Reg:
N554AL
TTAF:
15265
Full EMS Medical 4 patient and 4 attendant interior. Recent ‘no expense spared’ airframe refurbishment at Acro Helipro within the last 100 hours. Both engines are fresh Pratt and Whitney overhauled. Immediate delivery, Meticulous records. Current with medical interior and 13 passenger utility interior are included, aircraft is ‘turn-key’ will provide Fresh annual /Export C of A
Location: USA
Tel: +1 (806) 662 5823 Email:
[email protected]
Leonard Hudson Drilling
BELL 212 (Five Available)
Price:
Please Call
Year:
1991-1996
S/N:
Call for details
Reg:
Call for details
TTAF:
Call for details
Five, Late Model, Bell 212s In 'Off Shore’. Available for immediate use. Asking $3.1M to $3.6M USD. Serial numbers: 35034, 35048, 35060, 35088 and 35096
Location: USA
Citation Mustang
AUGSBURG AIR SERVICE Price: Year:
Tel: +49 821 7003 143 E-mail:
[email protected]
EU-Reg, Garmin G1000 Suite (3 Displays), Synthetic Vision, 2x GTX33D Mode-S XPDR, TAS KTA-870, Jeppesen Charts, XM Weather, On CESCOM, Maintenance by AAS Augsburg!
2009
S/N: Reg: TTAF:
3300
Location: Germany
Alberth Air Parts
+1 832 934 0055
Spare Parts
Par Avion Ltd FALCONS • HAWKERS • LEARS
•BUY •SELL •TRADE CESSNA LEARJET HAWKER WESTWIND FALCON GULFSTREAM
www.alberthaviation.com
www.paravionltd.com SALES • ACQUISITIONS • CONSULTING
Fax: +1 832 934 0011 www.AVBUYER.com
AVBUYER MAGAZINE R Vol 23 Issue 8 2019 R
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Advertiser’s Index 1st Source Bank...................................................45 AeroGo Private Airline ......................................139 Aircraft BlueBook ..............................................145 Aircraft Finance Corporation .............................11 American Kodiak ................................................123 AOPA ......................................................................47 Aradian Aviation....................................................99 Aviation Partners ................................................115 AvionMar...................................................132 - 133 AvBuyer................................................................145 Avjet Global ................................................. 40 - 41 Avpro ..............................................................14 - 17 Bank OZK..............................................................55 Boutsen Aviation ..................................................81 Central Business Jets...................................1, 147 Conklin & de Decker .........................................124 Corporate Concepts ...........................................71 Dassault Falcon Pre-Owned ...............2 - 3, 134 Donath Aircraft Services............................50 - 51
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AvBuyer (USPS 014-911), Aug 2019, Vol 23 Issue No 8 is published monthly by AvBuyer Ltd, 1210 West 11th Street, Wichita, KS 67203-3517 and has a targeted circulation to decision makers within business and corporate aviation throughout the world. It is also available on Annual Subscription @ UK £40 and USA $65. POSTMASTER: Send address changes to: AvBuyer Magazine 1210 West 11th Street, Wichita, KS 67203-3517. Postage is paid at Wichita, KS and additional mailing offices © Copyright of AvBuyer Ltd. Every effort is made to ensure the accuracy of material published in AvBuyer Magazine. However, the publishers cannot accept responsibility for claims made by manufacturers, advertisers or contributors. The views expressed are not necessarily those of the Editor or the publishers. Although all reasonable care is taken of all material, photographs, CD & DVDs submitted, the publishers cannot accept any responsibility for damage or loss. All rights reserved. No part of AvBuyer Magazine - Advertising, Design or Editorial - may be reproduced, stored in a retrieval system, or transmitted in any other form, or by any other means, electronic, mechanical, photographic, recording or otherwise, without prior written permission of the publishers.
144 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
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P145.qxp 17/07/2019 14:56 Page 1
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AVBUYER MAGAZINE R Vol 23 Issue 8 2019 R
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Aircraft For Sale • AIRCRAFT • HELICOPTERS
AIRCRAFT
PAGE
AIRCRAFT
AIRBUS ACJ 318 . . . . . . . 49 A318 Elite . . . . . 5, 10 ACJ319 . . . . . . . . 30, 81 A319 VIP . . . . . . 5 A380-800 . . . . . . 30
PAGE
60 . . . . . . . . . . . . 16, 29, 57, 63, 65, . . . . . . . . . . . . . . . 148 60SE . . . . . . . . . . 147 60XR . . . . . . . . . . 131 75. . . . . . . . . . . . . 16
CESSNA
BAE
Citation
AVRO RJ70. . . . . 81
II . . . . . . . . . . . . . 29, 67 III . . . . . . . . . . . . . 63, 67 V. . . . . . . . . . . . . . 67 VI . . . . . . . . . . . . . 67 X . . . . . . . . . . . . . 16, 65, 147 X+ . . . . . . . . . . . . 57, 148 XLS . . . . . . . . . . . 23 XLS+ . . . . . . . . . . . 25, 33, 91, 132 500 . . . . . . . . . . . 142 525 CJ1. . . . . . . . 138 CJ1+ . . . . . . . . . . . 63 CJ2. . . . . . . . . . . . . 57 CJ3. . . . . . . . . . . . 33, 65 Bravo . . . . . . . . . 28, 136, 141 Encore . . . . . . . . 23 Excel . . . . . . . . . . 23, 38 Grand CaravanEX. 57 Jet . . . . . . . . . . . . 38 Latitude . . . . . . . 58 Mustang. . . . . . . . 25, 28, 143 Sovereign. . . . . . 16, 59, 148 Sovereign+ . . . . 65 Ultra . . . . . . . . . . 57, 148
BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 35, 49 BBJ2 . . . . . . . . . 5, 9 BBJ MAX 8 . . . . . 5 737 . . . . . . . . . . . 140 737-300 . . . . . . . 71 737 VVIP. . . . . . . 71 737-400LR . . . . . 135 757 . . . . . . . . . . . 41 DC8-72 VVIP. 71
BOMBARDIER Global 5000 . . . . 5, 31, 56, 57, 59, 66, . . . . . . . . . . . . . . . 81, 133, 148 Global 5500. . . . 140 Global 6000 . . . . 31, 41, 56, 57, 148 Global 7500 . . . . 31 Global Express . 48, 57 Global Express XRS. 5, 8, 14, 41, 57, . . . . . . . . . . . . . . . 59, 148
Challenger
Learjet 31A . . . . . . . . . . . 57, 67, 89 36A . . . . . . . . . . . 143 40XR . . . . . . . . . . 66 45 . . . . . . . . . . . . 16, 65 45XR . . . . . . . . . . 16 55 . . . . . . . . . . . . 67
PAGE
50EX . . . . . . . . . . 3, 16, 29, 64 900C . . . . . . . . . . 147 900DX. . . . . . . . . 2 900EX EASy . . . 15, 147 2000 . . . . . . . . . . 15, 28, 63, 67, 91 2000EX. . . . . . . . 15, 59, 81 2000EX EASy . . 15 2000EX EASy II. 13 2000LX . . . . . . . . 3, 50 2000LXS. . . . . . . 3
DORNIER 328-310 . . . . . . . 29
EMBRAER Legacy 500 . . . . 16, 28, 49, 57, 148 Legacy 600 . . . . 31, 59 Legacy 650 . . . . 67 Lineage 1000 . . 5, 30, 49 Lineage 1000E . 1, 147 Phenom 300 . . . 5, 31, 71, 81 Praetor 600 . . . . 139
GULFSTREAM
TBM700A . . . . . . 81 TBM700B . . . . . . 25 TBM850 . . . . . . . 23 TBM930 . . . . . . . 23 TBM940 . . . . . . . 23
IV . . . . . . . . . . . . . 141 IVSP . . . . . . . . . . 14, 89, 91, 99 V. . . . . . . . . . . . . . 14, 48, 71, 99, 141 150 . . . . . . . . . . . 64, 147 200 . . . . . . . . . . . 14, 29, 64, 89, 129 280 . . . . . . . . . . . 13, 14, 38, 57, 58, . . . . . . . . . . . . . . . 148 400 . . . . . . . . . . . 29, 85 450 . . . . . . . . . . . 34, 48, 51, 99, 132, . . . . . . . . . . . . . . . 148 500 . . . . . . . . . . . 64, 85 550 . . . . . . . . . . . 5, 7, 14, 30, 34, 35, . . . . . . . . . . . . . . . 38, 49, 57, 64, 81, . . . . . . . . . . . . . . . 85, 99 650 . . . . . . . . . . . 14, 41 650ER. . . . . . . . . 34, 40, 57
DASSAULT FALCON
HAWKER BEECHCRAFT
7X . . . . . . . . . . . . 2, 5, 6, 15, 35, 58, . . . . . . . . . . . . . . . 134, 147 8X . . . . . . . . . . . . 15 50 . . . . . . . . . . . . 29, 81, 142, 147
King Air
Pistons T182T . . . . . . . . . . 25
300 . . . . . . . . . . . 15, 38, 48, 57, 58, . . . . . . . . . . . . . . . 63, 85, 91, 141, 148 350 . . . . . . . . . . . 48, 56, 57, 140, 148 601-1A . . . . . . . . 56 604 . . . . . . . . . . . 57, 59, 64, 148 605 . . . . . . . . . . . 41, 57, 85, 91, 133 650 . . . . . . . . . . . 56, 140, 148
AIRCRAFT
DAHER SOCATA
AIRCRAFT
PAGE
C90B. . . . . . . . . . 57, 148 E90 . . . . . . . . . . . 81
Beechcraft Premier I . . . . . . 57, 81, 148 Premier IA . . . . . 99
Hawker 400A . . . . . . . . . . 66 400XP . . . . . . . . . 21, 23, 66, 130 800A . . . . . . . . . . 66 800XP . . . . . . . . . 16, 41, 57, 89, 142, . . . . . . . . . . . . . . . 148 850XP. . . . . . . . . 141 900XP . . . . . . . . . 16, 58, 99, 140 4000 . . . . . . . . . . 16, 65, 89
IAI Astra1125SP . . 147
PIAGGIO P-180 Avanti II . 137
PIPER Cheyenne 400LS. .25 Comanche 250 . . .25 Meridian . . . . . . . 66, 142
HELICOPTERS AIRBUS/ EUROCOPTER EC 145 . . . . . . . . 81 EC 155B1. . . . . . 71
AGUSTAWESTLAND AW109S Grand . 30 A119 KE Koala . 99 A139 . . . . . . . . . . 142
BELL 212 . . . . . . . . . . . 143 412EP . . . . . . . . . 99 412EMS . . . . . . . 143
200XPR . . . . . . . 66 350 . . . . . . . . . . . 13, 58 B200 . . . . . . . . . . 23
The best aircraft for sale search anywhere, everywhere - on pc, smartphone and tablet Copy date for the September 2019 Issue - Wednesday 14 August 2019
146 Vol 23 Issue 8 2019 AVBUYER MAGAZINE
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2015 Falcon 7X SN267
Embraer Lineage 1000E
8X Replacement makes this Aircraft Available Now, Will Deliver with United States C of A, Will Deliver with New Paint and Interior, Heads Up Display / Enhanced Vision / Synthetic Vision / Etc / Etc / Etc…
Only 1075 Hours and 450 Cycles Since New; Preferred 19 Passenger Interior, World Wide Ready, Transferrable Warranty and Maintenance Programs
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G N I ND E P L A E D 2000 Citation X SN131
2005 Lear 60SE SN282
Single Corporate Owner Since New, New Paint (Duncan Feb 2019), ADS-B Out, FMS Version 6.1 (WAAS/LPV), Interior updated November 2012, FA2100 Flight Data Recorder
Artex 406 ELT w/ Nav Interface, WX 1000E Stormscope, Lightning Detection System, Ice Detection System, Extended baggage space, WAAS/LPV, Collins ADS-B Out
2008 Gulfstream G150 SN253
Astra 1125SP SN048
Collins Proline 21 4-tube, Dual Collins TDR-94S Mode S Enhanced w/Flight ID, Universal CVR-120
Exceptional Pedigree, Airshow 410, Extension Fuel Tanks, External Lav Service, Increased Gross Weight Mod, AirCellST3100 Iridium Radio Telephone
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[email protected] I Headquarters 919-941-8400 800XP S/N+1258690
•7 ,846 Hours; 6,051 Landings • Fresh 12 & 24 Month Inspection • Engines on JSSI
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ALSO AVAI L ABLE
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ALSO AVAILABLE
I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I
• 3,903 Hours; 1,320 Landings • Engines on RR CorporateCare •B atch 3.3 w/ FANS and ADS-B Out
2011 Challenger 300 1997 Challenger 604 2005 Challenger 604 2007 Challenger 605 2002 Citation Excel 1993 Citation VI 1994 Citation VII
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