MAY DAYS AND MARKET PLAYS
Hi Everyone,
It’s hard to believe we’re already in May. At JetSwiss, we’ve had the busiest first half of the year in the history of our company, which we’re very thankful for.
May is filled with flowers, better weather, and of course Mother’s Day. If you think back to when you got your first pilots license; this was the season/time of year that got you excited about flying and training. Of course, May also means graduation season–both young and old. Just when I thought I was done with graduations, the mailbox reminds me otherwise! So, every May I ask for two things: (1) a personal driver to escort me to all the various graduation parties (planning for the possibility for getting ‘over-served’), and (2) a stack of $100 bills for the “Congratulations” cards. You know the drill…
In the Pilatus Village, we are currently dealing with a market comprised of a different set of cards. As I’ve stated many times before, our job is to take all the cards that we are dealt and play them in the smartest way possible for our clients. Lately, those cards have read like a holding pattern: TAXES AND TARIFFS. These two topics have caused many folks to seek more clarity before making a move. On the one hand, I understand this perspective. But when we dig a little deeper, the logic starts to contradict itself. Almost every client we speak to agrees that the market will take off after taxes and tariffs are settled. Most also believe that the resolution is just a few months away. We believe this as well. So, the big question becomes, what are we waiting for? Are we waiting for a large monumental event?
The truth is many of these same folks have built a successful life and business by taking calculated risks. They’ve made large and small decisions based on accumulating information and following their gut, rarely contradicting themselves. Are they waiting for demand to exponentially increase over the next six months? So, why would they contradict themselves now?
The Pilatus Market
Let’s talk about numbers. The last time our industry experienced 100% bonus depreciation was 20172022. This tax environment helped the aircraft world “take off.” Many of you may remember the boom that our market experienced at that time. Values were skyrocketing and at its apex, there was less than 1 month worth of inventory available. Today we have 8 months worth of airplanes for sale. Traditionally speaking, this is a healthy market at 4-5% of the fleet for sale.
The good news is that our lawmakers are suggesting that we’re on the verge of 100% bonus depreciation returning. Historical data suggests this will have a major impact to our market. While we don’t expect to see prices jump like they did in 2021 and 2022, we do fully expect good inventory to get picked from the market quickly. Further, we need to consider tariffs. There are currently 102 PC-12’s and 18 PC-24’s available. 42 of those PC-12’s and 9 of those PC-24’s are based outside the United States. Aircraft outside of the U.S. are subject to a minimum of a 10% tariff upon import to the U.S. That is 42.5% of the available fleet! From a dollar perspective, if these aircraft were sold into the United States, our consumers would be paying a total of approximately $30M in added tariffs. It seems rather logical to assume that the aircraft currently based in the United States just became a lot more interesting.
So, as you venture off to your kid’s graduation, move them out of dorm rooms, and stuff cards with $100 bills and words of encouragement, think about this: what’s the negative in starting the conversation today? A simple call or Zoom meeting costs you nothing. A small amount of your time can yield a large amount of information. Right now, we’re at a rare crossroads–it’s a smart time to buy, and a great time to sell. Don’t contradict yourself, follow your gut and take action. JetSwiss is a great place to start!
Fly safe,
Bub & The JetSwiss Team
0-30 Days on Market
31-60 Days on Market
61-90 Days on Market
4-6 Months on Market
7-12 Months on Market
1-2 Years on Market
FLEET LOCATION
“All Pilatus aircraft imported into the United States will be subject to 10% tariff. There was a brief 31% reciprocal tariff on Swiss produced products at one point. However, there is currently a 90 day pause on that duty (clock is already running).”
AVERAGE LISTING PRICE PAST 6 MONTHS
$8,000,000
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
AVERAGE PRICE BY QUARTER 2020-2025 $-
$8.0M
$7.0M
$6.0M
$5.0M
$2.0M $3.0M $4.0M
This chart reflects the current market for Pilatus PC-12 aircraft that are on the retail market. Want to know how much your Pilatus dollars will buy? This is a great place to start! As you can see, the aircraft model year plays a key factor in pricing of the aircraft–thus generates a commensurate trend curve. This data provides a baseline for our aircraft evaluations.
AIRCRAFT
ASKING PRICE VS. TOTAL TIME
Similar to the Asking Price vs Model Year chart, this information helps our clients determine “the mileage on the car” for their specific budget. Want to own a low time aircraft? This chart will give you an indication on what you will spend. Note: aircraft under 1,000 hours total time historically yield much higher prices.
Asking Price By Model Year Under Contract For Sale
This information helps our clients determine “the mileage on the car” for their specific budget. “Want to own a low time aircraft?” This chart will give you an indication on what you will spend. Note: aircraft under 1,000 hours total time historically yield much higher prices.
AIRCRAFT ASKING PRICE VS. MODEL YEAR
This chart reflects the current market for Pilatus PC-24 aircraft that are on the retail market. Want to know how much your Pilatus dollars will buy? This is a great place to start! As you can see, the aircraft model year plays a key factor in pricing of the aircraft–thus generates a commensurate trend curve. This data provides a baseline for our aircraft evaluations.
TOP PERFORMANCE & COMFORT MODS FOR THE PC-12
FEATURING RUSS AND SN 686
The Pilatus PC-12 is a fantastic machine—worldrenowned for its versatility and impressive performance. But for owners seeking that extra edge, several modifications can elevate your flying experience.
After doing much research on the safest aircraft out there, our customer, Russ, bought serial number 686 from us in 2018. He uses his PC-12 for both business and personal travel, and is a pilot himself. With frequent trips to Minneapolis, Russ made some modifications that boost speed and performance of his PC12. He also made many improvements to the cosmetic condition of his legacy airframe. Over the course of two years, and in conjunction with annual inspections, serial number 686 has taken on new life, for a total down time of about 7 months!
So, if you’re curious what upgrades might be worth the investment, here’s a rundown of six popular mods to consider—plus a look at what Russ has done to make his PC-12 stand out.
1. 5 or 7-Blade Propeller
Cost: $90,000–$120,000
Upgrade to a five or seven-bladed propeller. This translates to better takeoff performance, a faster climb rate, and a quieter cabin. Reduced vibration also minimizes pilot fatigue on longer journeys. These benefits come with the added advantage of lower operating costs due to repairable blades and the option for singleblade replacement. Russ opted for the 7-blade MT prop and says the climb performance is noticeably better—all the way up to FL200.
2. Speed Cowl Cost: $100,000
Significantly boost performance, climb rate and cruise speed. By improving airflow to the engine, it allows for more power at the same temperature, letting you reach cruising altitude faster and potentially achieve higher cruising speeds. Russ added this mod early in his upgrade journey, and it paid off. He reports gaining over 25 knots of cruise speed and running 125 degrees cooler ITT at 98% power at 24,000 feet. “It’s probably my favorite mod,” he says.
3. Upgraded Aviation Panel (Legacy Aircraft) Cost:
$50,000–$400,000
Modernize your cockpit with a next-generation avionics suite from Garmin. This could include a fully integrated touchscreen system with advanced navigation, weather radar, and autopilot capabilities. Enhanced situational awareness and streamlined operation lead to safer and more efficient flights. Legacy aircraft can get a serious tech facelift with Garmin glass cockpits. Russ completed his avionics upgrade at Fargo Jet Center, including Garmin autopilot and onboard phone/text capability.
4. Cabin Updates Cost: $$$
Consider installing executive seating with increased legroom and recline options. Upgraded soundproofing materials further reduce noise, while an advanced air conditioning system ensures optimal cabin temperature control. Custom interiors elevate both form and function. Russ installed LED lighting throughout the cabin–one of the easier upgrades that makes the cabin feel more modern and adds to functionality.
5. WiFi / Talk / Text Systems
Cost: $10,000–$150,000
Stay connected during flight with a WiFi or Airtext system. The Gogo AVANCE L3 system provides affordable and reliable internet access, allowing passengers to stay productive or entertained throughout the journey. Installation is straightforward, making GoGo Wifi a perfect upgrade to enhance your PC-12’s capabilities. Airtext can be accessed with a portable box or fully integrated system.
Remember!
Modifications should be made by certified technicians using approved parts. Carefully weigh the cost-benefit ratio of each upgrade and ensure it aligns with your specific flying needs. Consulting with a specialist can help you determine the optimal modifications for your PC-12. And you know, we’re here for that. ;)
6. Exterior Paint
Cost: $85,000–$100,000
A nice paint job can increase an aircrafts resale value by making it look newer, well-maintained, and more attractive to potential buyers. It can also improve corrosion protection and fuel efficiency by reducing drag from a bumpy, uneven paint surface. “We did the paint job mid-way through the upgrades,” Russ says. “We kept it sharp but not too personal—makes it easier if I ever decide to sell.”
A note from our dear friend and Pilatus Owners & Pilots Association (POPA) President, Paul Bell
Dear Pilatus Owners & Pilots,
I fly my PC-12 single-pilot. Most years, my one chance to really connect with my pilot community is at the annual POPA convention. Sure, there’s the invaluable exchange of information on our POPA Forum throughout the year, but for real engagement and storytelling, you have to get together in person.
I’ve had an unusually good run of pilot camaraderie lately. First, I had a pro pilot fly with me for a few months after I had eye surgery. We made some long flights, and they all went by quickly with someone to talk to in the cockpit. He flies for the Texas Department of Public Safety (the state troopers) and has some crazy stories to share.
Yesterday, I met up with another volunteer pilot at San Angelo Regional Airport (KSJT). He transported a cancer patient and his mother there from Houston, and I flew them on home
to El Paso. These hand-offs are common in volunteer flying. I always look forward to checking out their airplane and hearing about their flying background. As is usual with these volunteer flights, he was an experienced aviator and very involved in the community.
But the best part of yesterday was spending time with my friend and predecessor as POPA President, Brent McCasland. He’s pictured here (left) in front of his GB1 GameBird and his PC-24. I’m the one on the right, beaming, because we just got back from an aerobatic flight where he demonstrated some advanced maneuvers and let me fly some basic ones. What a blast.
My point is this: Come to the POPA Convention, June 12-14, in Nashville. We will gather hundreds of pilots, vendors, and key execs from Pilatus. It’s a great group, you’ll learn a lot, and you’ll experience the kind of camaraderie that those of us who fly around single-pilot all year rarely get elsewhere.
We are planning a lot of valuable content to make us all better pilots. Our keynote speaker will be Jeannie Leavitt. Jeannie was the U.S. Air Force’s first female fighter pilot and was the first woman to command a combat fighter wing. She capped her career as Air Force Chief of Safety, which she will draw on to share great lessons on safe operations.
Fly safe, Paul Bell
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