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2 FC April.qxp_FC December 06 20/03/2019 10:41 Page 1

Volume 23 Issue 4

ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION

Service Excellence

THIS MONTH www.AVBUYER.com

Aircraft Appraisal FAQs: What is ‘Depreciation’?

How to Export Jets from China’s Used Market

Jets Comparison: Citation Latitude vs Citation Sovereign vs Hawker 850XP Understanding Jet Connectivity Options Internationally

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Editor Welcome April19.qxp_JMesingerNov06 19/03/2019 11:02 Page 1

Guest Editor’s VIEWPOINT Kurt Edwards

Sustainable Alternative Jet Fuels are Here n case you haven’t heard, there is a growing commitment by the Business Aviation community for the use of Sustainable Aviation Fuels (SAF). Early this year an event took place in Van Nuys, California Business Jets Fuel Green: A Step Toward Sustainability - to further educate and inform our industry about the use of SAF and demonstrate that this new drop-in fuel is ready to use today! Aircraft manufacturers flew SAF demo flights with media representatives, and local airport officials joined to share in the commitment to limit carbon emissions and serve as a model for offering these fuels at other airports. It was the first of several events like this to advance the industry's long-standing commitment to emissions reduction including, among other aims, to achieve carbon-neutral growth in international operations from 2020 forward. Business Aviation has always been an early adopter of technologies to improve fuel efficiency and reduce environmental impacts. The growing use of SAF will be a critical component of Business Aviation's ability to reach its aggressive long-term goal to halve carbon emissions by 2050 relative to 2005 levels. In May 2018, a coalition of Business Aviation organizations unveiled ‘The Business Aviation Guide to the Use of Sustainable Alternative Jet Fuels’ intended to raise awareness and encourage adoption of available and emerging SAF options. The Guide places SAF in the overall context of the ‘Business Aviation Commitment on Climate Change’, published in 2009, the conceptual roadmap for reducing carbon emissions. The coalition that authored the Guide includes the International Business Aviation Council (IBAC), European Business Aviation Association (EBAA), General Aviation Manufacturers Association (GAMA), National Air Transportation Association (NATA) and National Business Aviation Association (NBAA). The Commercial Aviation Alternative Fuels Initiative (CAAFI) and the Air Transport Action Group (ATAG) provided valuable technical assistance. The Guide outlines three key themes regarding SAF, as follows:

I

1. SAF are safe and available today. - They have been tested by manufacturers of aircraft, engines and components to assure their reliability and safety in the air and on the ground and satisfy ASTM fuel standards. - Equally important, the fuels can be blended with current fuels, so manufacturers do not have to redesign 4  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

engines or aircraft. The fuels can simply be ‘dropped in’ whenever available. 2. SAF offer many benefits. - They support compliance with international emissions measures, including the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), set forth by the International Civil Aviation Organization (ICAO), as well as the European Union Emissions Trading Scheme. - Their use allows operators and others in the industry to achieve corporate social responsibility goals and demonstrate the industry’s commitment to addressing climate change. - Alternative fuels may provide improved efficiency and contribute to improved local air quality through lower particulate emissions. 3. SAF are a “win-win-win” for all stakeholders. - Sustainability is a vital component of the rationale for the use of these fuels. They can be based on a wide range of feedstocks such as cooking oil, plant oils, municipal solid waste, waste gases, sugars, purposegrown biomass, and some crops and agricultural residues. Even when considering the emissions produced in growing, transporting, harvesting, processing and refining the inputs, there can be significant reductions in carbon lifecycle emissions compared to the same lifecycle for fossil fuels. From a global standpoint, our aim with the SAF initiative is to support Business Aviation’s commitment to carbon emissions reduction. The investment in the demonstration events promoting SAF reflects the commitment of aircraft manufacturers, fuel suppliers, airports, FBOs, and the coalition of associations to this technology. I look forward to building on the momentum of our industry’s commitment and hope you will join us by asking your fuel providers about SAF availability! To learn more, visit www.FutureOfSustainableFuel.com ❙ As Director General of the International Business Aviation Council (IBAC), Kurt Edwards advocates for Business Aviation at the International Civil Aviation Organization and through the 14 Business Aviation association members of IBAC, located across six continents. He is assisted by a team of experienced aviation professionals that promote and manage the industry-leading global codes of best safety practices: IS-BAO and IS-BAH. Learn more at IBAC.org www.AVBUYER.com


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Contents Layout April19.qxp 20/03/2019 10:54 Page 1

Vol. 23 Issue 4

Contents

2019

4

Guest Editor - Kurt Edwards, IBAC

16

Trends and observations from the leading analysts…

40 42

Market Intelligence Market Insights

Market Insight: Jeff Lowe on China’s BizAv Market

Buying & Selling Aircraft

Dealer Broker Market Update – Q1 2019

48

Does Weather Damage Impact a Business Jet’s Value?

54

When to Plan the Sale of Your Aircraft

62

Aircraft Appraisal FAQs: What is ‘Depreciation’?

66

Asia-Pacific’s Used Jet Market: An Insider’s View

70

How to Export Jets from China’s Used Market

74

An Insider’s Guide to Asia-Pacific Trip Planning

76

How to Cut BizAv Operating Costs Responsibly

80

88 92 96 102 108

Trip Planning Ownership

Jet Comparision

Cessna Citation Latitude vs Citation Sovereign vs Hawker 850

Aircraft Price Guide Turboprop Values

Aircraft Specifications

Turboprop Performance & Specifications Guide

Connectivity

Understanding Jet Connectivity Options Internationally How Secure is Your Jet Connectivity?

Avionics

How to Understand the ADS-B Out Essentials

Community News

114

OEM News and Industry Appointments

119

Products & Services

122

Showcases

131

Market Place

136

Advertisers Index

137

Aircraft for Sale Index

Next Month

• Jet Comparison: Dassault Falcon 8X

• European Used Jet Market Overview

• What’s in an MRO Quote 10  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

EDITORIAL Commissioning Editor Matthew Harris +44 (0)20 8939 7722 editorial@avbuyer.com Editorial Contributor (USA Office) Dave Higdon dave@avbuyer.com Consulting Editor Sean O’Farrell +44 (0)20 8255 4000 sean@avbuyer.com ADVERTISING Lee McLoughlin - Account Director US Aircraft & Services Sales Freephone from USA: +1- 855 425 7638 lee@avbuyer.com Matt Chappell - Account Manager US & Canada Aircraft & Services Sales Freephone from USA: +1- 855 425 7638 MattC@avbuyer.com Lise Margin - Account Manager US Aircraft Sales +1- 703 818 1024 lise@avbuyer.com Maria Brabec - Account Manager EMEA & APAC Aircraft & Services Sales +420 604 224 828 maria@avbuyer.com UK Sales +44 (0)208 549 9508 STUDIO/PRODUCTION Helen Cavalli / Mark Williams +44 (0)20 8939 7726 helen@avbuyer.com mark@avbuyer.com CIRCULATION Sue Brennan +44 (0)20 8255 4000 Freephone from USA: +1- 855 425 7638 sue@avbuyer.com AVBUYER.COM Jayne Jackson jayne@avbuyer.com Emma Davey emma@avbuyer.com MANAGING DIRECTOR John Brennan +44 (0)20 8255 4229 john@avbuyer.com 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


Freestream March.qxp 18/03/2019 12:47 Page 1

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MarketIndicators APRIL19.qxp_Layout 1 19/03/2019 11:18 Page 1

MARKET INDICATORS

Business Aviation Market Overview The expected slow-down in used aircraft transactions appears to be materializing in the early months of 2019. What are the factors that are influencing this? Business Aviation analyst Rollie Vincent explores‌ ooking back to a torrid pace of activity last year, the volume of used business jet transactions (as measured by retail sales and full leases of whole aircraft) reached all-time high levels in 2018, based on the latest available information in JETNET’s database. With the sales of more than 2,800 jets in 2018 (up about 2% Year over Year), used transactions outnumbered new business jet shipments by a factor of 4 to 1, reflecting a healthy market where transactions were equivalent to 12.9% of the in-service fleet of business jets. Sales data for the first few months of 2019 are still being verified and tabulated, but early indications are that the pace of the market has begun to decelerate somewhat, in line with expectations for slower growth in the national economies of many of the countries that are important to Business Aviation. The business jet inventory for sale was hovering just above

L

16  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

2,000 aircraft worldwide at press time, equivalent to 9.2% of the world business jet fleet, which is up from 8.9% near the end of 2018. Less than 150 jets that are currently listed as for sale in the JETNET database were delivered factory-new in the last five years, representing just 7% of the available inventory. As has been the case for some time, much of the fleet that is listed for sale was delivered more than 20 years ago, and at press time these older assets represented about 45% of the total inventory (similar to this time a year ago). Many of these aging may not have much economic life left in them with looming Communications, Navigation and Surveillance (CNS) global mandates approaching in 2020, including ADS-B Out and FANS 1/A. Business jet owners/operators who have not yet upgraded their aircraft to meet these mandates are quickly running out of time to do www.AVBUYER.com


MarketIndicators APRIL19.qxp_Layout 1 20/03/2019 10:46 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 rvincent@rollandvincent.com

Latitude, Embraer Phenom 300 and Gulfstream G650/650ER – accounted for a remarkable 42% of all factory shipments. These high-volume programs helped cover factory overheads in Montreal, Duluth, Wichita, Melbourne/San Jose dos Campos and Savannah, much to the satisfaction of stakeholders, and prime the pump for future used markets in these popular aircraft.

A Note on European Uncertainty

so, and potential buyers should beware of the very real costs and schedule challenges of getting this work accomplished in the months that remain in 2019. Limited MRO shop capacity and the lead times to secure the necessary parts and systems are a real potential problem. Existing owners and would-be buyers of non-compliant business jets should expect upgrades to become very priceinelastic as we move into the last few months of this year. This is a short-term, but nonetheless lucrative, margin opportunity for MRO shops with additional capacity for “got to have” last-minute shoppers. Looking back at 2018, it is revealing to note that there were 38 different models of new business jets delivered, according to the year-end GAMA shipment report. We estimate that just five of these models – including the Bombardier Challenger 350, Cirrus Vision SF50, Citation www.AVBUYER.com

With the original March 29 deadline now passed for the UK to say “Cheers, mate!” to their colleagues in European Union, it is a decidedly strange time in what has been up to now the largest single regional market in the world. In a sobering bit of analysis, Her Majesty’s Treasury determined in November 2018 that the UK was likely to be worse off financially under all Brexit scenarios. While this might simply reflect the high cost of ‘independence’, the historical ties that bind Great Britain and Northern Ireland together with the rest of Europe go well beyond trade and transport. With most national economies in Europe expected to experience slower GDP growth in 2019 Year over Year, it would not take much for at least some countries to slide into recession in the near-term, whether influenced by Brexitrelated disruptions, export slowdowns linked to tariffs escalations, or fluctuations in consumer and business sentiment, and investment. From the perspective of business aircraft operations, the brave new world of post-Brexit life is complicated enough to keep lots of otherwise busy aviation professionals on both sides of the Chanel/la Manche wondering how all of this is going to work…or not. Uncertainty in Europe and elsewhere, long the bane of corporate investors and aircraft buyers, is unfortunately on the uptick. MI www.navigating360.com

page 20

AVBUYER MAGAZINE  Vol 23 Issue 4 2019 

17


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MarketIndicators APRIL19.qxp_Layout 1 19/03/2019 11:19 Page 3

MARKET INDICATORS

AVBUYER.com

Flight Activity - North America FEBRUARY 2019 vs FEBRUARY 2018 North America Flight Activity

PART 91

PART 135

FRACTIONAL

ALL

TURBOPROP

-2.9%

-4.2%

-6.1%

-3.5%

LIGHT JET

-0.9%

-11.0%

0.2%

-4.5%

3.0%

-2.9%

14.2%

3.5%

LARGE CABIN JET

-2.8%

4.0%

-13.8%

-1.5%

ALL

-1.0%

-4.2%

5.5%

-1.4%

MID-SIZE JET

FEBRUARY 2019 vs JANUARY 2019 North America Flight Activity

PART 91

PART 135

FRACTIONAL

ALL

TURBOPROP

-3.0%

-9.0%

-5.4%

-5.7%

LIGHT JET

-5.0%

-2.9%

-1.7%

-3.9%

MID-SIZE JET

-0.8%

-0.7%

1.2%

-0.3%

1.5%

-5.8%

3.6%

-1.2%

-2.2%

-5.0%

0.4%

-2.9%

LARGE CABIN JET

ALL

TRAQPak’s review of Year over Year (YoY) flight activity (February 2019 vs. February 2018) indicates an unexpected decrease for North America (-1.4%). Month over Month (MoM) activity (February versus January) was down -2.9%. The YoY results by operational category were mixed with Fractional activity posting the only increase. Part 135 activity declined for a ninth consecutive month. YoY, the aircraft categories were mixed with Mid-size Jets posting the only increase from 2018. Light Jets recorded the largest drop. February Business Aviation flight

activity posted a larger than expected MoM decrease from January 2019. The Fractional segment posted the only monthly increase. Part 135 flight activity declined the most for the month. Aircraft categories were all negative MoM, with Mid-size Jets posting the smallest decline and the Turboprop segment posting the largest.

Flight Activity – Europe There were 58,090 Business Aviation departures in Europe during February according to WINGX’s latest monthly Business Aviation Monitor. That figure represented a 1.7% increase Year over Year (YoY), boosted by a big increase in piston traffic. Business jet activity was down by 1.3% with a 1.6% fall in Charter/AOC flights. The trend for the last twelve months' in business jet activity stands at 1%. The top markets saw overall growth, with Germany and Spain registering most activity increase YoY. Flights from the UK were flat with a notable drop in Small and Mid-size Jets. So far in 2019, the UK, Italy and Germany have around 1% growth in total activity, France is up by 2% and Spain almost 10%. Flight activity out of Turkey and Greece, by comparison is down 20% YoY. Europe’s YTD trend of 0.5% is slowing on the last twelve months' trend of 1.7%. “The overall trend in Business Aviation activity, up 2% YoY, hides a significant underlying decline in business jet activity across all the top markets except Germany, with notably large falls in Heavy Jet activity out of Spain and Small to Mid-cabin activity from the UK,” Richard Koe, Managing Director of WINGX, summarized. “These declines are most obvious in Charter activity, and on longer sectors. This year’s falling trend in business jet charters reflects softer demand in the context of weaker economic growth and heightened political risk across Europe.” MI www.wingx-advance.com page 22

Forecast for March Activity

Looking ahead, TRAQPak analysts estimate a 0.2% increase in overall flight activity YoY in March 2019. MI www.argus.aero

Understanding the Business Aviation Market - with AvBuyer

20  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

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MarketIndicators APRIL19.qxp_Layout 1 19/03/2019 11:20 Page 4

MARKET INDICATORS

AVBUYER.com

Honeywell Civil Helicopter Deliveries Forecast In its 20th annual ‘Turbine-Powered Civil Helicopter Purchase Outlook,’ Honeywell forecast 4,000 to 4,200 new civilian-use helicopters to be delivered through 2022… “In addition to better global economic conditions expected in the coming years, potential positive impacts of US tax reform on new helicopter demand and lower volatility in oil and gasrelated markets have helped fleet managers confirm what they told us last year,” said Ben Driggs, president, Americas, Honeywell Aerospace. “With the expectation of stable purchase plans for new helicopters over the next five years, Honeywell is focused on bringing increased value to operators' current and new fleets by offering Connected Helicopter engine, Health and Usage Monitoring Systems, and avionics solutions that help boost a platform's efficiency and availability.” Key survey findings this year included: • Over the next 12 months, helicopter fleet utilization is expected to increase significantly in North America and modestly in Europe and Latin America. • When choosing their make and model, operators purchasing new helicopters are largely considering factors like brand experience and performance, with cabin-size and range factors declining from last year's survey.

• The outlook showed stable new purchase-plan rates for the next five years for North America, Europe and Asia. Latin America showed higher growth rates for the next five years with lower rates in the Middle East and Africa. MI www.honeywell.com

Aero Asset Presents First Heli Pre-owned Market Report Aero Asset, a new global helicopter brokerage headquartered in Toronto, Canada presented the industry’s first pre-owned market trends report recently… “The pre-owned market took an upturn in 2018, after several years of flatlining…” Aero Asset co-founder and sales director William Sturm revealed. The Aero Asset report analyses 15 twin-engine models in the Light, Medium and Heavy categories, from the Airbus H135 to Sikorsky S92A. Twin-engine helicopter trading was up 9% in 2018 vs. 2017, with the Light Twin market generating the most activity, up 13%. Average absorption rate decreased 40%, compared with 2017, with the most significant reduction showing in the Medium Twin market. Out of the 13 pre-owned markets covered, nine had lower absorption rates than 2017, two were on par and two had a higher rate. Nine had higher trade volume than 2017, two were on par and two had lower trade volume. The top performer in 2018 was the Airbus EC135, with 30% of models traded being less than 10 years old and 80% less than 15. Only 10% of buyers were outside the US and EU and 80% of transactions involved EMS, or EMS conversions. The EC135’s absorption rate in 2018 was one year. A total 33 preowned EC135s were traded in 2018. The Leonardo A109E Power ranked second, with nearly twice the absorption rate of the EC135. With 24 units sold in 2018, the type maintains strong liquidity. A total 40% of these 22  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

aircraft were sold in Africa, Latin America and Asia, with a minority (15% of the total sales) as EMS variants. Ranked third is the Leonardo A109S/AW109SP. In its retail sales and supply analysis (by weight class) Aero Asset’s Report shows Light Twin helicopter transactions totalling 90 (up 13% over 2017). Medium helicopters are unchanged at 44 and Heavy helicopters (the EC/H225 and Sikorsky S92) up 30%, with three pre-owned models sold in 2018. page 24 MI www.aeroasset.com

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MARKET INDICATORS

AVBUYER.com

In-Service Aircraft Values & Maintenance Condition

Table A

Fleet Maintenance Condition $ Million

5.35

Asset Insight’s market analysis on February 28, 2019 covering 94 fixed-wing models and 1,624 aircraft listed for sale revealed a 2.6% increase to the tracked inventory fleet (41 units). Here are the details… Small Jets led the increase (up 4.4%), while Medium Jets also increased (4.3%). The Turboprop inventory increased a marginal 0.4%, but the Large Jet fleet listed for sale experienced a minor 0.6% decrease.

$1.45 5.25

5.219

5.15 A

M

Quality Rating

J

J

A

S

O

Maintenance Exposure

N

D

J

F

Quality Rating Trendline

Table B

The average aircraft value for the tracked fleet remained virtually unchanged and for the second consecutive month matched the average value figure for the past twelve months. Only Turboprops lost ground, posting a 12-month low figure in the process.

LOW RISK AIRCRAFT MODEL ETP RATIO G650 Boeing BBJ F2000LX Phenom 300 F900EX EASy Citation CJ4 525C Pilatus PC12 CL605 F2000EX EASy Citation Encore + G150 Citation Sovereign 680 Citation CJ3 G550 G450 KingAir 350 - Post-2000 Hawker 900XP Piper Meridian F2000EX Challenger 300 Citation CJ2+ 525A Global 5000 Learjet 45XR Citation XLS (MSG3) Citation Mustang 510 Phenom 100 KingAir B200 - Post 2000 F900EX Global XRS Citation XLS Hawker 850XP Citation Encore KingAir 350 - Pre-2001 Falcon 50EX Citation CJ2 Learjet 60XR Embraer Legacy 600 Citation CJ1+

Inventory Fleet Maintenance Condition

Fleet asset quality deteriorated substantively during February, posting the worst figure since last July. Specifically: • Large Jet transactions were focused more on higher quality aircraft, with buyers able to negotiate some good values. • Medium Jet buyers picked up some of the best assets listed for sale, and lower quality assets entered inventory to suppress the available aircraft quality. • Small Jet additions to inventory lowered the asset quality for this group. • Turboprops – the only group to suffer an average Ask Price reduction – saw sufficient higher quality aircraft trades to lower the group’s asset quality. Overall, the tracked inventory posted the following figures: The Quality Rating receded into the ‘Very Good’ range, after holding an ‘Excellent’ Rating since September 2018. It dropped from 5.318 to 5.219 on Asset Insight’s scale of -2.5 to 10. In line with a lower Quality Rating, Maintenance Exposure (an aircraft’s accumulated/embedded maintenance expense) deteriorated 4.5% to $1.46m, the highest (worst) figure posted during the past twelve months.

Maintenance Exposure to Ask Price (ETP) Ratio

24  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

$1.40 $1.35

M

Aircraft Values

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% and, during Q4 2018, assets whose ETP Ratio was 40% or more were listed for sale over 57% longer (on average) than aircraft whose Ratio was below 40% (246 versus 386 Days on Market). Asset Insight’s February analysis revealed that nearly 53% of all tracked models and over 62% of the tracked fleet posted an ETP Ratio above 40%. The tracked fleet’s ETP Ratio increased (worsened) during February to 70.2% from January’s 64.8%. All groups worsened, with Turboprops rising to 52.9% from 49.6%, Large Jets increasing from 57.8% to 59.4%, Small Jets hitting 76.8% versus

$1.50

$1.46

3.8% 5.7% 10.8% 11.3% 13.0% 13.5% 14.3% 14.5% 15.0% 15.2% 18.7% 19.0% 19.1% 19.3% 19.8% 20.3% 20.9% 21.3% 23.2% 23.5% 25.4% 26.3% 26.4% 28.3% 28.3% 29.6% 29.6% 30.1% 30.6% 32.9% 34.0% 34.2% 36.4% 37.1% 37.3% 37.9% 38.4% 39.2%

HIGH RISK AIRCRAFT MODEL ETP RATIO Citation Excel 560XL GV G200 Premier 1A Piaggio P-180 II CL604 GIV-SP (MSG3) KingAir 300 Hawker 400XP KingAir B200 - Pre-2001 F900B Learjet 45 F900 Citation Bravo Falcon 2000 Premier 1 Citation V Ultra Learjet 45 w/APU Hawker 800XP Citation V 560 Hawker Beechjet 400A Global Express GIV-SP Piaggio P180 Hawker 1000A Learjet 60 Falcon 50 Citation VI KingAir C90 Citation ISP Citation II G100 Hawker Beechjet 400 GIV Hawker 800A CL601-3R Learjet 35A Learjet 31 CL601-3A Learjet 55 CL601-1A Falcon 20-5

41.2% 41.6% 42.7% 43.7% 47.9% 48.0% 48.4% 50.1% 50.2% 51.3% 52.9% 53.6% 56.3% 59.5% 60.9% 66.9% 68.0% 70.2% 70.3% 75.6% 77.2% 77.4% 80.7% 88.5% 91.4% 100.4% 105.8% 109.2% 111.2% 114.3% 135.1% 137.0% 144.8% 148.4% 158.0% 158.1% 175.7% 177.2% 188.8% 217.9% 249.8% 301.0%

Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of February 28 2019

Source: JETNET (www.jetnet.com) Asset Insight, LLC (www.assetinsight.com) page 28

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MarketIndicators APRIL19.qxp_Layout 1 19/03/2019 11:21 Page 6

MARKET INDICATORS

Large Jets Ask Price vs. Maintenance Exposure

Asset Quality Rating

$ Millions

65.8%, and Medium Jets rising to 79.7% (marginally better than the group’s 12-month worst figure of 80.0%) following January’s 77.1%.

Market Summary

February’s inventory changes saw the fleet’s asset quality decrease 1.8%, while Maintenance Exposure rose 4.5% to a 12month high (worst) figure. With the net increase of 41 aircraft to inventory, Asset Insight was surprised that (weighted) average prices remained relatively unchanged, especially since pricing increased for three of the four groups. However, this is simply one more example of why detailed analytics can be a buyer’s, and seller’s best friend. Large Jets: Inventory decreased by two units, with February’s transactions focused on higher quality assets. Changes to the

Ask Price vs. Maintenance Exposure

$1.28

Medium Jets: Inventory for the tracked fleet increased by 25 units in February, but the group’s average Ask Price increased another 1.4%. Those figures make little sense when you consider that both Quality Rating and Maintenance Exposure posted 12-month record-worst figures. However, many sellers believe the time has arrived to test

Medium Jets

Asset Quality Rating Scale -2.500 to 10.000

$1.30

5.300

$1.25

28  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

Feb-19

Jan-19

Dec-18

Nov-18

5.000

Oct-18

$1.05

Sep-18

$1.10

Aug-18

Jan-19

Feb-19

Dec-18

Nov-18

Oct-18

Sep-18

Jul-18

Aug-18

Jun-18

May-18

Apr-18

Mar-18

$2.50

Jul-18

$2.50

5.098

5.100

Jun-18

$1.15

May-18

$2.70

5.200

Apr-18

$1.20

Mar-18

$2.90

$2.30

Feb-19

inventory mix brought the number of upcoming maintenance events for the average asset up to a 12-month high, with the cost for those events hitting a 12-month high (worst) figure too. On the positive side, and specifically for sellers, Ask Price increased 2% in January, although that was not sufficient to combat the Maintenance Exposure increase, leading to an increase (worsening) in the group’s ETP Ratio. The opportunity for buyers and sellers to find middle ground just became a bit tougher to locate.

$ Millions

$3.10

Jan-19

5.200

Dec-18

$3.10

Nov-18

5.300

Oct-18

$3.20

Sep-18

Jan-19

Feb-19

Dec-18

Nov-18

Oct-18

Sep-18

Jul-18

Aug-18

Jun-18

May-18

Apr-18

Mar-18

$10.5

$12.0

Mar-18

$11.5

5.400

Aug-18

$3.30

Jul-18

$3.40

5.467

5.500

Jun-18

$12.5

$3.50

May-18

$3.50

Apr-18

$13.5

Scale -2.500 to 10.000

www.AVBUYER.com


MarketIndicators APRIL19.qxp_Layout 1 19/03/2019 15:21 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

$2.00

$0.82

Scale -2.500 to 10.000

$0.85 5.500

$1.90 $1.80

$0.75

$1.70

5.356 5.300

the value impact of limited availability, hence the conflicting figures. Small Jets: Inventory increased by 21 units, and Maintenance Exposure worsened (increased) by nearly 12% in January. Yet, Small Jet sellers apparently believe they can leverage a lack in asset selection and increased Ask Prices by 3.1% in January. Even with the ‘desired’ price increase, the group’s ETP Ratio still posted a worse-than-average ETP Ratio which does not bode well for sellers. Buyers on the other hand can probably justify some very attractive offers, assuming they understand Asset Insight analytics (www.assetinsight.com) how to use these statistics.

Insight analytics Turboprops: Asset Inventory only moved (www.assetinsight.com) one unit higher, but the inventory fleet mix changes worsened the group’s Quality Rating by 4.2% and Maintenance Exposure by 4.6%. Unlike the

Ask Price vs. Maintenance Exposure

$0.60 $1.48

Feb-19

Jan-19

Dec-18

Nov-18

Oct-18

Sep-18

Asset Quality Rating Key Outstanding Excellent 5.500 5.250 or to Greater 5.499

Very Good 5.000 to 5.249

Good 4.750 to 4.999

Below Average Average 4.500 Less to than 4.749 4.500

Asset Quality Rating Scale -2.500 to 10.000

$0.65

$1.45

Aug-18

Turboprops

$0.61 $1.50

Jul-18

other three groups, average Ask Price decreased 1.4% to the lowest 12-month figure, and that led to an ETP Ratio increase (degradation). Still, the pricing stability of this group (which has traded within a $50k high/low range during the past twelve months) should not to be underestimated, nor should the potential to identify some good values. page 32 MI www.assetinsight.com

$ Millions

$1.55

Jun-18

May-18

5.100

Apr-18

$0.65

Mar-18

Feb-19

Jan-19

Dec-18

Oct-18

Nov-18

Sep-18

Aug-18

Jul-18

Jun-18

Apr-18

Mar-18

$1.60

May-18

$1.77

$0.55

5.200 5.100 5.000

4.895

4.900

( www.AVBUYER.com

)

Feb-19

Jan-19

Dec-18

Nov-18

Oct-18

Sep-18

Aug-18

Jul-18

Jun-18

May-18

4.700 Apr-18

$0.50

Mar-18

Feb-19

Jan-19

Dec-18

Nov-18

Oct-18

Sep-18

Aug-18

Jul-18

Jun-18

May-18

Apr-18

$1.40

Mar-18

4.800

l AVBUYER MAGAZINE  Vol 23 Issue 4 2019 

29


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MARKET INDICATORS

AVBUYER.com

GAMA 2018 Year-End Shipment Analysis The General Aviation Manufacturers Association (GAMA) issued its most up-beat new airplane shipment and billings report in a very long time in late February. All three segments reported significant gains YoY. Mike Potts analyses…. Total airplane shipments were up by 4.7% compared with YearEnd 2017, and the industry finished 2018 with 2,443 shipments, up from 2,325 the year before. Specifically, business jet deliveries were up 3.8%, reaching 703 units (the first time jets have finished above 700 units since 2014), squaring nicely with the 690-710 unit range we predicted. Turboprops totaled 601 units, up 5.2% to record the strongest gain among any segment. Piston shipments also finished strong, up 5% compared to 2017. Total billings were also up over last year, by 1.5% at $20.6bn, versus $20.2bn a year ago. The billings increase trailed percentage gains in the other segments, reflecting some continuing softness in the upper ends of the jet market. On the surface this was the best GAMA report in a while – but looking at the specifics of the market situation you quickly discover things aren’t quite as rosy. In the jet market, for example, six of 11 manufacturers reporting to GAMA had numbers lagging last year’s results. Looking at just Q4, five jet makers were ahead of last year, five were behind and one was even. Based on those numbers the jet market is not in full recovery mode yet. 32  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

The Jet Market

Looking at jet market specifics, we see a familiar picture with Cessna comfortably in the lead with 188 units, up from 180 last year. For Q4 2018 Cessna had 63, up from 58 a year ago. Cessna’s best-selling jet continues to be its Latitude model, which accounted for 57 deliveries in 2018, up from 54 in 2017. The Mid-size Latitude is one of Cessna’s newest products, with first deliveries coming in 2015. Cessna’s other new model, the smaller M2, recorded 34 deliveries, down slightly from the 39 shipped in 2017. Coming second for jet deliveries (but one unit short of 2017’s total) was Bombardier with 137 units, including 41 for Q4. Bombardier’s Q4 surge was weaker than in either of the previous two years. The OEM’s best-selling product continued to be its Challenger 350 super mid-size model, with 60 shipments in 2018. Gulfstream captured third place with 121 deliveries, up a single unit over 2017. For Q4, 42 units were shipped. In 2017 Gulfstream delivered 30 airplanes in each of the four quarters, and earlier this year Gulfstream appeared be to on pace for total deliveries in the 105-unit range. It was the unusual Q4 delivery surge that allowed Gulfstream to surpass last year’s results by a small margin. Gulfstream’s strong Q4 cemented its position as the industry leader in billings, finishing the year with an estimated total $6.783bn. Without Gulfstream’s Q4 shipment surge, the industry page 34 would not have reached $20bn in total billings.

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MARKET INDICATORS

Fourth place in jet deliveries was captured by Embraer (91 units), trailing the 109 shipments it reported in 2017. Embraer’s Q4 total of 36 deliveries also failed to match its 50 Q4 2017 units. Cirrus, in just its second year in the jet market, slid comfortably into fifth place in jet deliveries with 63 units, up from 22 the year before. The Cirrus Vision Jet represents the largest-selling jet model in the industry, though it will be interesting to see where Cirrus settles once its production and deliveries stabilize. Honda and Dassault engaged in a tight race for sixth place in jet deliveries, with Dassault prevailing at year-end, finishing the year with 41 deliveries on the strength of a strong second half. At the mid-year point Honda was sixth with 17 units, slightly ahead of Dassault’s 15. Honda experienced market weakness in Q2 and Q3 2018, delivering just nine airplane units. The 43% Q4 surge Honda experienced was insufficient to keep up with Dassault, which reported 26 deliveries in the H2 2018. Honda reported 37 shipments in 2018. Newcomer Pilatus finished the year in eighth place in jet deliveries, reporting 18 units for the year. Yet it will be surprising if Pilatus isn’t placed higher by Year-End 2019. Nine of its deliveries came in the Q4 2018, but this was less of a Q4 surge and more a spool-up in production. Bringing up the rear in the 2018 jet market were Boeing, Airbus and ONE, in that order. Boeing led the group with six deliveries, including one in Q4. Airbus reported a single delivery, which came in Q3. ONE reported no deliveries, down from six in 2017. The business jet market, then, is not exactly thriving. But companies invested in new products are generally seeing better results than those who haven’t, and the market appears to be poised to support continuing growth in the years ahead.

The Turboprop Market

Compared with the business jet market the turboprops are similarly roiled. The total business turboprop market, not counting agricultural airplanes, totaled 422 units. GAMA doesn’t publish the number, but it is derived from taking GAMA’s turboprop total of 601 aircraft and deducting 179 34  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

AVBUYER.com

agricultural airplanes (141 by Air Tractor and 38 by Thrush). The overall turboprop market benefitted from a very classically-sized Q4 market surge, with 43.94% of all turboprops delivered in the last three months of 2018. Collectively, Textron Aviation units own the turboprop market. Its Beechcraft segment is the market leader with 94 deliveries for the year, followed closely by its Cessna segment (92). Beechcraft also led for Q4 with 35 deliveries in the last nine months of the year, with Cessna in hot pursuit at 32. Occupying third place in turboprops, and not hopelessly behind the Textron entries, was Pilatus, with 83 deliveries for 2018 and 30 in Q4. Pilatus trailed its 2017 results when it had 86 for the year and 32 in Q4. Fourth place in turboprop deliveries went to Piper, with 56 for 2018, up from 47 in 2017. In Q4 2018, Piper had 18 deliveries, up from 16 in Q4 2017. Daher, meanwhile, finished fifth in the turboprop race with 50 units for 2018 (17 for Q4 2018), down from 57 airplanes in 2017 (21 for Q4 2017). Of the remaining turboprop players, Quest captured sixth place (23 units for 2018, and only three in Q4 2018), while making its GAMA debut Viking Air shipped nine units, Piaggio reported four and AVIC reported no deliveries in 2018.

In Summary…

Overall the business aircraft market in 2018 had areas worth cheering about, and we can perhaps be hopeful that this marks the beginning of an upturn. In truth, however, the market still has a long way to go before we can pronounce it fully recovered. We’ll continue to monitor it throughout 2019. MI www.gama.aero ❙

Mike Potts is respected industry-wide as an aviation journalist. He has worked in the communications departments of Beech Aircraft, Sino Swearingen and M7 Aerospace, and has been analyzing GAMA’s delivery reports for AvBuyer since 2003 where he has built an excellent track record for accurate shipment predictions. Contact him via mpotts1@satx.rr.com

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Market Insight April19.qxp_JMesingerNov06 19/03/2019 15:19 Page 1

MARKET INSIGHT

AVBUYER.com

Market Insight: Jeffrey Lowe on China’s BizAv Market What is happening in China’s Business Aviation market today? Is there value to be found for Western buyers? What are the prospects for that market going forwards? AvBuyer asked Jeffrey Lowe… anada-born Jeffrey Lowe has almost 35 years of experience in the aviation industry working with OEMs, suppliers and management companies in their promotion and sales around the world. Having moved to Hong Kong in 1997, he specializes in Greater China and today is the managing director at Asian Sky Group (ASG), which provides a wide range of independent services for both fixed-wing and rotary-wing aircraft. In its analyses of the region, ASG paints a picture of a difficult year for the business jet market in China during 2018. AvBuyer spoke with Mr. Lowe ahead of ABACE 2019 to learn more.

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AvBuyer: Jeffrey, you mentioned in a recent analysis of AsiaPacific that the business jet market faced ‘turmoil’ in 2018. For those who don’t follow Asia-Pacific so closely, could you elaborate? Lowe: On a macro level that ‘turmoil’ manifested itself in the form of the trade dispute between the US and China, and the slowing Chinese economy. Poor economics led to pressured sellers who could no longer justify or afford their aircraft. These instabilities and uncertainties also impacted sentiment leading to more market pessimism. So, in 2018 the market turned from a buyers’ one into a majority of sellers, with the region’s aircraft management companies subsequently being forced to deal with smaller fleets sizes. This impacted some management companies adversely, leading to bankruptcies, consolidation or outright sales. AvBuyer: You weren’t sounding too positive for the short-term prospects in the region with both aircraft utilization and purchase intentions down, and general uncertainty. Can you see anything changing during 2019? Lowe: Yes, I can. It seems the trade dispute will be resolved, and China will introduce some market incentives to stimulate 40  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

the economy. But these events will take some time to trickle down, impact P&L statements and get people back in a buying mood. As is often said for our industry, at the first hint of challenging economic times, the business jet is usually the first thing to go. Unfortunately buying it back takes much longer as several quarters of good economic results are necessary. AvBuyer: It’s been interesting to note an outflow of aircraft from the region – particularly Greater China – moving back to the West from the East. Do aircraft owned and operated in China present an attractive option to Western (US and Canadian) buyers? Lowe: I wouldn’t necessarily say China-based aircraft are ‘attractive’. It’s more the case that market demand is so strong at the moment, with supply diminishing worldwide, that buyers are forced to look further afield to find the right aircraft at the right price. AvBuyer: So is there good value to be found on China’s used market while North America waits for its own used jet pool to be replenished? Lowe: Yes, there is. There is an education process that needs to be undertaken though. US buyers tend to devalue China-based aircraft due to various concerns which need to be addressed. Chinese sellers, meanwhile, tend to overvalue their aircraft due to inexperience and a lack of understanding of the market dynamics that drive aircraft values. On top of this, there are language barriers and cultural misunderstandings. AvBuyer: What are the prospects for the Asia-Pacific market beyond this year, in your opinion? Lowe: The long-term prospects for the Asia-Pacific market remain strong. I would say it is definitely a market that you should invest in as it is a key global market. More information from www.asianskygroup.com

www.AVBUYER.com


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Dealer Broker Market Update Q1 2019 How has the used jet and turboprop market been performing in 2019 so far? What are the opinions and perspectives emerging so far this year? Dave Higdon pieces together the evidence‌ en years ago, the pool of used business aircraft for sale ran slightly close to one in five of the total fleet. By the end of 2018 that number had reduced to about one in eleven. No wonder such a limited selection yielded a smaller number of sales in 2018, even as new airplane sales showed some solid signs of growth. Unsurprisingly, market prognostications are for slightly slower sales again during 2019. The factors likely to influence the volume of 2019 transactions

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include the smaller inventory; a stronger US dollar; limitations on MRO upgrade capabilities; higher maintenance and pilot costs; increased loan interest rates; and the continuing element of an uncertain political situation. A number of these factors weren't on the books 10 years ago when the Great Recession leveled its devastating impact on the economy. ADS-B; CPDLC; new RNP standards – the weight of these mandates coupled with the slow pace of solutions www.AVBUYER.com

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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 footlaunched wings to combat jets. Contact him via Dave@avbuyer.com

“Every segment other than piston helicopters saw a Year-over-Year decline in the available pool of used aircraft...” coming for some of them, and the expense of upgrading versus parking the aircraft are expected to combine to increase fleet retirements in the next couple of years. And that can't help but shrink the used aircraft fleet for sale even more.

The Analysts’ Perspectives

Every segment other than piston helicopters saw a Year-over-Year decline in the available pool of used aircraft, JETNET noted in its 2018 year-end analysis. And only the pool of used piston aircraft showed an available inventory above 10%. From the reports emerging so far this year, the same trend as was seen in 2018 continues into 2019, and price pressures appear not to be a factor (an unusual turn for a field where demand exceeds supply). Mente Group’s CEO Brian Proctor doesn’t expect 2019 to produce some of the gains his company experienced in www.AVBUYER.com

2018. Proctor looks for prices of new and used jets to rise in 2019, with the likelihood of a decline in transactions for used business jets. “We see 2019 as a little slower than 2018, but still ahead of 2017,” he suggested. Gulfstream specialist Hagerty Jet Group predicts a fractured used jet market this year owing to political uncertainty as well as volatility in the equity markets. “Demand for aircraft less than five years old will remain strong, but older aircraft will continue to decline in value, although at a slower pace than in 2017,” Hagerty Jet Group forecast earlier this year. The last couple of years disappointed many prospective buyers with the paucity of used business jets, particularly the depleted inventory that was available in Q4 2018. Moreover, stock market volatility this year has caused some prospective buyers to push the ‘Hold’ button on their purchase plans according to various

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sources, including Hagerty Jet Group. And that trend appears set to continue, pointing toward reduced demand for the aircraft already on the market. Should that continue, the inventories of used business jets and turboprops could resume growth. But to date there are no signs to indicate that happening. Consider the already tight supply of newer Gulfstream aircraft: With the entry of new G500s into service the upgrade cycle should feed more G450s and G550s aged six to 10 into the used jet inventory. That infusion should help ease supply pressures, but it won't match the demand for jets aged five and under. The available inventory of ultra-long-range Gulfstreams such as the G650 and G650ER stood at a mere 3.2% of the 342 units in-service, according to Hagerty Jet Group’s data. Conversely, the market for used G280s remains healthy, fetching strong values.

Collateral Factors Work Their Influence

While the direct market forces always influence the sales action for used business aircraft, other factors come into play too. One of those occurred in late 2017 and had a full year to work its impact. The Tax Cuts and Jobs Act of 2017 will ultimately have a long-range influence, thanks to the extension of 100% bonus depreciation to used equipment. Used aircraft were the beneficiaries of this tax law change. While the change seemed to have limited influence on the used business aircraft 44  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

AVBUYER.com

market, analysts anticipate that it's effect will grow over time, helping buoy sales. Then there are regulatory factors influencing used business jet and turboprop sales. In addition to the cost of ADS-B upgrades, hundreds of aircraft face another airworthiness directive (AD 2012-17-5) with a price tag likely to exceed the market value of older jets powered by Honeywell's TFE731-4 and TFE7315 powerplants (for example). With an estimated compliance cost approaching $600,000 per aircraft, forecasts are for additional fleet retirements by the time the deadline for AD 2012-17-5 arrives next year.

In Summary

This and myriad other data already paints a picture of a used jet market starving for quality inventory, while buyers are faced with spending more to get less. Those factors also seem to serve as a brake on used business jet and turboprop sales activity as we look toward Q2 2019. So with a slow start, multiple variable factors and discomfort with finance and political issues, analysts expect the rest of 2019 to be the definition of moderation. “That moderation could be a good thing for us if it precludes another decline in sales – or worse, a spike in prices that slows sales even more,” a southeast US broker explained to AvBuyer. “It also means there will be many of us vying to sell the same aircraft to different people, with all that entails for price pressures. So in my view moderation can be a good thing.” ❙ www.AVBUYER.com


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Does Weather Damage Impact a Business Jet’s Value? All aircraft are exposed to the risks of hail and lightning strikes. These are always inconvenient, and can be costly to repair – but what does this kind of damage history mean for a prospective buyer or an owner preparing to sell their jet? Jet Tolbert discusses… t stands to reason that the more extensive the damage and subsequent repairs, the greater the price reduction will be to the aircraft’s value. Typically, sale contracts for used aircraft include provisions for a buyer get-out clause if the aircraft is found to have damage requiring issuance of an FAA form 337, or has a history of damage that required the issuance of form 337 previously. Therefore, any weather-related incident requiring a 337 could impact an aircraft’s value more than repairs that did not require one. What exactly is a 337, though? Essentially, the FAA requires this form to be filed whenever there is a “major repair or alteration” to an aircraft. This could be for anything that changes the aircraft from the original condition that it was in when it left the factory. For example, if a wing skin were dented by hail and then repaired by removing the skin and

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putting a new one in its place, that repair might not require the issuance of a form 337. By contrast, if it was determined that hail damage necessitated an engineered repair in order to change the skin, or if repairs to the underlying structure were made by modifying them from their original condition (i.e. with reinforcements or doublers), a form 337 would need to be issued. It’s worth noting at this juncture that form 337 is required not only for aircraft repairs, but also if an owner were to change the seating configuration, add or remove avionics, or make other upgrades to the aircraft.

How Does Aircraft Age Impact Weather Damage?

The age of an aircraft will also determine exposure to the damage history, to an extent. Over time the likelihood increases that an aircraft will have encountered an incident. www.AVBUYER.com

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AVBUYER.com Jet Tolbert is President of American Aircraft Sales. Established in 1968, it is a premier brokerage firm which has been a trusted partner since corporations first began utilizing jet aircraft to grow their businesses. With offices in the US, a Latin America sales team and a partner office in Zurich, Switzerland, American Aircraft Sales is an active NBAA, IBAC, EBAA & AsBAA member.

“...sometimes mishaps are unavoidable – in which case a well-documented repair by a respected maintenance facility will provide the next owner of the aircraft peace of mind...”

While the varying degrees of damage will impact how much the aircraft value is affected, the age of the aircraft and the time elapsed since the repair was made will also have a bearing on the reduction in value. As an example, a three-year-old aircraft that sustained hail damage and was repaired to its original condition (with only a parts-off-and-partson replacement) could still potentially see less interest from buyers, whereas a 20-30 year old aircraft with the same history or more extensive repairs might not see such a marked change in value if the maintenance work was carried out several years (and possibly several owners) prior.

Who Repaired the Aircraft?

Rightly or wrongly, repairs made at a factory-owned service center will tend to instill a better sense of confidence in the quality of work in many prospective buyers. There are, nevertheless, several shops that come close to matching the standard and these are great options for repair work. They will invoke confidence from buyers. But with older aircraft, even those first- and second-tier maintenance facilities might not be priced so competitively that an owner is willing to consider them. At the very least, the owner of an aircraft being repaired for weather damage should demonstrate that the MRO doing the repair work was vetted, and that the repairs have been www.AVBUYER.com

documented thoroughly. Contrary to the belief of some owners and operators that I have come across, losing this part of the logbooks will certainly not increase the aircraft’s value. Instead it will have the opposite effect. All maintenance work is required to be in sequential numbered logbooks, so any missing pages will be glaringly obvious and cause more harm to the value.

How to Prevent Weather-Related Incidents

Of course, the best bet for an aircraft owner is to try to avoid weather-related incidents as best they can. However, while incidents do occur with passengers on board, many more occur on relocation flights with no passengers on board, or while the aircraft is parked on the ground. If the flight department policies were followed to treat the company aircraft with the same care as one of the valued executives who travel aboard it (i.e. the jet was flown with the same mitigation policies regarding weather) there would be a reduced risk of it running into hail and lightning. With that said, sometimes mishaps are unavoidable – in which case a well-documented repair by a respected maintenance facility will provide the next owner of the aircraft peace of mind knowing the airplane is sound, helping to uphold its value on the resale market. More information from www.americanaircraftsales.com ❙ AVBUYER MAGAZINE  Vol 23 Issue 4 2019 

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When to Plan the Sale of Your Aircraft Although it’s important for all owners to have a strategy on when to replace their aircraft, there are several important factors making an owner’s plan specific to their operation. David Wyndham offers insights on these… hen you acquire an aircraft, whether it is your first or a replacement you may not be thinking about when you should sell. Though it may not be an immediate concern, a savvy owner should still have a strategy in place for when to sell. Unfortunately, there is no easy formula for this, nor is there a single tactic to follow. There are, however, two general reasons to dispose of your aircraft. The first is that it’s no longer capable of performing its mission. The second is that the

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aircraft is no longer economically feasible for the mission.

Mission Situations

One of the main reasons why people replace their aircraft is that their mission needs change and the aircraft no longer offers the capability required. A typical case is a requirement for greater range or passenger capacity. If you require additional range, your current aircraft could probably still perform the trip with a fuel stop. You should keep in mind that larger, longer range

www.AVBUYER.com

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“However, flying nine people 3,000 miles with an eight-seat aircraft is not a viable long-term solution, especially with baggage.” aircraft cost more to acquire and operate. Is avoiding that one-hour fuel stop worth spending $10m-$20m more for a larger aircraft? Another scenario might be the need to carry more passengers, more regularly. While adding more seats is not a viable option if you’re to preserve passenger comfort, some aircraft can add one or two more passenger seats with a simple reconfiguration. This may include using a belted lavatory as a passenger seat. (I had one client who used a typical eight-seat Hawker 800XP as a nineseat shuttle by doing just that.) However, flying nine people 3,000 miles with an eight-seat aircraft is not a viable long-term solution, especially with baggage.

High Utilization Operations

I have worked with several clients who fly frequently. One has several Light Jets that average about 700 hours per year on 400–800nm legs. Maintaining a high utilization schedule such as

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this is easier with newer aircraft. Newer aircraft require less maintenance and spend less time in the shop for maintenance, which is a major reason why fractional companies have newer models in their fleets.

Cost of Ownership

If the cost of keeping your aircraft is outweighed by replacing it, then the best financial plan is to replace your aircraft. Operating Costs Increase with Age: As aircraft age, unscheduled maintenance tends to rise. Some components will wear out and other critical components may have a specific life limit. Engines are still going to be the biggest single cost item on most aircraft. Engine overhauls are infrequent but high cost, often exceeding $1m per engine on some large-cabin jets. At some point, the ability to support the aircraft will become difficult due to increased unscheduled maintenance and a growing scarcity of spare parts.

www.AVBUYER.com

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AVBUYER.com 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 david@conklindd.com

“Since you should be doing a maintenance and operating budget annually, the addition of resale value can also be done regularly and will ideally project values for the next three to five years at a minimum.” Fleet size, the aircraft being out of production, and the average age of the fleet all factor into driving up the costs and availability of spares. This becomes a greater factor for aircraft in their mid-20s and older. Residual Values Decline with Age: Along with increased operating costs come declining values. The value of an aircraft is based partly on its age and partly on its maintenance status. For example, a 20-year-old business jet has much of its value associated with its maintenance status. That jet may be worth $2m with the engine in need of an overhaul but it will be worth $4m with freshly overhauled engines and a major inspection recently accomplished. Guaranteed hourly maintenance programs help to smooth the value curve by accruing for the maintenance and offering assurances that maintenance costs will remain predictable. But a 20year-old aircraft on a guaranteed hourly maintenance program is still going to be worth more than a 22-year-old aircraft on a program.

www.AVBUYER.com

The Art of Life-Cycle Costing

The financial planning for when to sell your jet is best done using life cycle costing. This analysis considers the total costs of acquisition, operation and disposition. Since you should be doing a maintenance and operating budget annually, the addition of resale value can also be done regularly and will ideally project values for the next three to five years at a minimum. While predicting future values is at best an educated guess, the life cycle cost of ‘keep versus replace’ over the next several years can give you a lead time to plan for the aircraft replacement as well as time to perform an analysis on future options. Planning for how long to own your aircraft is ultimately determined by your needs, your mission, and the life cycle costs. Consider all these at least annually and forward-plan. ❙ More from www.conklindd.com

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Aircraft Appraisal FAQs: What is ‘Depreciation’? Jeremy Cox reveals that one term linked with his line of work must be explained to the Corporate CFO regularly. What does the term

‘depreciation’ mean, and why is it different when applied to aircraft appraisal? ecently I taught a class at Embry-Riddle Aviation University analyzing the current state of the business aircraft market to a varied group from many different segments of the aviation industry. As I left the podium, I was asked why the term ‘depreciation’ is used differently in the aircraft appraisal side of our industry compared to aviation accountancy. I had never considered this question before, so wrote this article to offer a suitable response to the question.

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The Long History of Appraisal

It may well be that appraising items, and the act of working as an appraiser is the second oldest profession in history. For as long as people have been offering items for sale, there has been a need to know if the price offered is reasonable. The calculation of ‘depreciation’ of an asset first came into being because early appraisers were being asked how much a used asset was worth compared to new (just as they continue to ask today). www.AVBUYER.com

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AVBUYER.com Jeremy Cox is senior aircraft appraiser at Vref, a National Aircraft Appraisers Association (NAAA) senior certified aircraft appraiser, as well as a NAAA qualified buyer’s agent. Jeremy has been a director of maintenance for several different companies and employed by several airframe OEMs’ independent service centers. Contact him via jeremy@vref.com

And in 1913, when the Tariff Act was introduced into US law, ‘Depreciation’ as it applies to accountancy was formally and legally allowed to be used by US corporations (“…a reasonable allowance for the exhaustion, wear and tear of property arising out of its use or employment in the business…”). Basically, now a company could follow a standardized method – like the Modified Accelerated Cost Recovery System (MACRS) – to calculate the annual expense of a fixed assets cost over its useful life and then claim this amount as a reduction in the amount of taxable income reported by the business to the IRS.

Why is Depreciation Different for Aircraft Appraisal?

Take the Roman Chariot. If you were a well-todo member of Roman Society and you were in the market for a light horse-drawn chariot for travel between your properties, you will probably have looked at the new chariots at the local dealership, while also considering the several used ones available. Not wanting to overpay, you’ll have employed an appraiser to independently advise you on what the market value is for used chariots. The expert chariot appraiser will have developed a methodology that enables an accurate opinion of value to be made against a used vehicle of this type. That methodology considers make and model, features, age, condition and desirability within the current marketplace.

The Development of Depreciation

However, when investors funding the emerging American Railroad Companies of the 1830s became frustrated by the frequent high expenses required to overhaul locomotives or replace track, they demanded a system to account for and spread these expenditures out over time. Thus a method of ‘depreciation’ accounting was created. This system made annual profit/loss reporting easier to understand. www.AVBUYER.com

‘Depreciation’ as used in aircraft appraisals is totally different. Here is the definition as quoted directly from the third edition of the American Society of Appraisers ‘Valuing Machinery and Equipment: The Fundamentals of Appraising Machinery and Technical Assets’: DEPRECIATION: is another term that appraisers use differently from non-appraisers such as accountants and the general public. The valuation concept of depreciation differs from the accounting concept of depreciation. Depreciation for valuation purposes is the estimated loss in value of an asset, compared with a new asset; appraisal depreciation measures value inferiority caused by a combination of physical deterioration, functional obsolescence, and economic (or external) obsolescence. So, how is ‘depreciation’ used and applied when an aircraft is appraised? It’s used when the cost approach is applied to determine an opinion of value. By way of review there are three ‘Approaches to Value’ that must be considered by an aircraft appraiser. These are: 1) The Cost Approach (the principle of substitution) where cost of new, less ‘depreciation’ equals the value of the aircraft; 2) The Sales Comparison Approach where a comparable sale, plus/minus adjustments equals the value range of an aircraft; and 3) The Income Approach (used the least) where present value of annual net income (directly contributed by the aircraft) equals the value of the aircraft.

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“...appraisal depreciation measures value inferiority caused by a combination of physical deterioration, functional obsolescence, and economic (or external) obsolescence.” A very simple example of the methodology utilized to arrive at an aircrafts’ depreciated value is as follows: • An aircraft with a normal useful life (NUL) of 40 years and a replacement cost new (RCN) of $45m, which is 15 years old at the time of the appraisal (Effective Age) results in a ‘depreciation’ of 38% (EA/NUL = 15/40 = 38%)

inspections, avionics upgrades, strip and repaint and interior revamps. This is because the NUL will likely remain the same, but the EA of the aircraft has been reduced by the incorporation of these physical changes listed above. With an adjusted EA, then the depreciation will also adjust.

In Summary

The ‘depreciation’ realized is $16.875m (38% x RCN), thus the ‘depreciated’ value of the aircraft is $28.125m (RCN – Depreciation.)

Note: The above calculation requires additional and multiple steps when the aircraft has been through multiple restorations, upgrades and refurbishments like engine overhauls, major

The above article offers a methodical outline as to why depreciation, applied to aircraft appraisal can be a very different beast to the depreciation of the accountancy world. It should serve as useful instruction to help the CFO understand the intricacies of the value of an aircraft your organization plans to buy or sell. ❙

Make More Informed Buying Decisions with AvBuyer 64  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

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Gulfstream G450 2008 SERIAL NUMBER 4108

Highly Equipped and Turn-Key Condition! You can have it all in a G450, and Serial Number 4108 is just that aircraft! The list of desirable features starts with excellent pedigree: Two U.S. owners since new New paint in 2017 Full maintenance programs Enhanced Nav Package FANS 1A/CPDLC and ADS-B Out Synthetic Vision BBML Global WiFi Satellite TV And much more! We invite you to see for yourself why Serial Number 4108 is everything you want in a G450! Contact Jim Donath at Donath Aircraft Services.

773.935.9871 | jimdonath@donathaircraft.com | DonathAircraft.com


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BUYING & SELLING AIRCRAFT

Asia-Pacific’s Used Jet Market: An Insider’s View Jet Aviation’s Joachim Hartmann spoke with AvBuyer about a maturing business aircraft market in Asia-Pacific, the hurdles of aircraft import and export and the value proposition of a used jet from the region… oachim Hartmann has spent his entire career in aviation. He started out in the airline industry and went through a Management Trainee Program at Lufthansa between 1980 and 1983. Joining Lufthansa Consulting in 1989, he worked on Airline Consulting projects worldwide and then in 1996 the company opened a regional project and business development in Jakarta, Indonesia and he transferred there to lead it. Leaving Lufthansa in 2000 to work for Swissair

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66  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

Group and then Emirates Group, Mr. Hartmann was also self-employed in Indonesia, undertaking aviation projects and brokering sales and leases of commercial aircraft. His involvement in Business Aviation began in 2007 when he joined Hawker Pacific and worked the Hawker Beechcraft dealership, selling Hawkers and Beechcraft products in Indonesia, and later in Thailand. Then, in 2017, he transferred to Singapore, covering Asia aircraft sales for Hawker Pacific, now Jet Aviation, and is www.AVBUYER.com

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AvBuyer: Generally speaking, what kind of value might one of these used jets offer buyers scouring this market? Hartmann: The value depends on each individual aircraft. How well maintained is it? How many hours was it operated? etc. In general, older aircraft in Asia Pacific are often not equipped to meet future requirements, such as ADS-B, FANS 1/1A, etc. It seems buyers are looking for older vintages, with a focus on low acquisition costs, while anticipating some investment for upgrades. In general, aircraft enrolled in hourly maintenance programs for engines and airframe have a competitive edge. AvBuyer: For an international buyer seeking to export one of these used jets from the AsiaPacific market, what should they keep in mind to ensure a smooth, trouble-free transaction?

today director of aircraft sales, Asia. It’s with this background in the region that AvBuyer spoke with Joachim to get his perspective on the Asia-Pacific market. AvBuyer: We’ve been hearing recently that the used jet marketplace in Asia-Pacific is maturing, and that aircraft are being acquired and heading back west. From where you’re sitting, on what scale is this happening? Hartmann: Asia-Pacific is a very large market and there is a constant flow of aircraft both in and out of Asia. This is natural in any market and is a good indication of the Asia-Pacific region transforming into a mature market. The observation is that there has been a transition over the past couple of years and preowned Mid-size Jets and King Airs seem to be actively trading. www.AVBUYER.com

Hartmann: My advice to any buyer around the world is to engage some local expertise to facilitate the entire process, from the initial LOI to delivery. At Jet Aviation, we are regularly engaged by Western buyers looking to acquire aircraft in the region. We have many contacts and the aircraft are well known to us so we can quickly identify suitable aircraft against the stated requirement and budget, and assist with the PPI and local regulations. This helps to avoid the frustration of unnecessary and costly delays. AvBuyer: What are the common reasons these aircraft are entering the market? For the Eastern buyer seeking to upgrade their jet, what are the main import hurdles for buyers seeking to upgrade their jets? Hartmann: There are owners in the region who upgrade to newer aircraft. Demand has also generally shifted to larger aircraft with better long-haul performance and higher seating capacities. Major challenges faced by those seeking to import a new jet to the region include the ability to obtain financing; choice regarding the aircraft’s place of registration; and operability (e.g. domestic flights with foreign registration). More information from www.jetaviation.com

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Conklin & de Decker January.qxp_Layout 1 23/01/2019 14:55 Page 1

A New Conklin & de Decker is Here Evaluate / Plan / Maintain

conklindd.com


Boutsen April.qxp_Layout 1 18/03/2019 15:12 Page 1

AIRCRAFT

2009 Airbus A319CJ - s/n 3826

FOR

SALE

1995 Avro RJ70 - s/n E1267

2012 Global 5000 - s/n 9468 Deal Pending!

2010 Legacy 650 - s/n 14501134

2012 Dassault Falcon 7X - s/n 167

Deal Pending!

2012 Dassault Falcon 7X - s/n 136

New to the Market!

2005 Challenger 604 - s/n 5599

2011 Phenom 300 - s/n 50500068

1988 Dassault Falcon 50 - s/n 185

2007 Premier 1A - s/n RB-0196

2009 Citation Mustang - s/n 510-0182

New to the Market!

2008 Citation CJ2+ - s/n 525A-0383

New to the Market!

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

sales@boutsen.com


Buying&Selling 6 April19.qxp_Finance 19/03/2019 11:57 Page 1

BUYING & SELLING AIRCRAFT

How to Export Jets from China’s Used Market Economic contractions and trade-war nerves are bringing US-built business jets home from China. The buying process can be complex, but the rewards great. What should a buyer seeking to import a China-registered jet know to maximize their chance of success? Dave Higdon explores… nyone who ever queued to return a purchase should know the store expects to see an original receipt for the item. With business jet operators in China reacting to an economic deceleration and the impact of competing tariffs, some are seeking to offload aircraft. These used jets can prove tempting for a US buyer faced with a diminishing pool of used aircraft in the domestic market. But complications face anyone contemplating

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acquiring from an international used aircraft market such as China’s. For example, the physical distance between the US and China provides plenty of potential for a transaction to be pitted with complications. Add to this the requirement for duplicative documentation - requirements that might vary by the nation and the buyers involved. Thankfully, some common international rules will apply universally. Everything adds up to ‘necessity’ level should the buyer hope to land financing for the aircraft. www.AVBUYER.com

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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 Dave@avbuyer.com

growth slowed in China, US buyers began to snag models available from China’s used market and, according to estimates from aircraft dealers and analysts, Chinese sellers offloaded about 20 business jets in 2018 with several going to US buyers. But it’s important to note that those sales haven't reflected the fire-sale characteristics witnessed in the used market following the Great Recession. The situations are very different.

A Bear Market in Bullish Times

Following, we’ll examine what’s involved for a US buyer to land a used aircraft offered for sale in China.

Economic Malaise in China, Growing US Demand

Much has changed in China since operators there purchased new business jets in higher-thanaverage numbers a few years back. China's heated economic growth started to cool during 2018, and the effects really began to show towards the end of the year. The trade battles between the US and China also hit last year, and China levied tariffs on some Boeing and Gulfstream business jets, complicating pricing for the aircraft as well as some raw materials common in aircraft production. The combined effect is that Chinese individuals and businesses started selling more private jets than in previous years. Indeed, as economic www.AVBUYER.com

The biggest differences between today and a decade ago center on the dramatically different economic conditions. China is feeling the squeeze of an economic contraction. Conversely, the economic conditions in North America and Europe are moving in the opposite direction. Last year the US had one of its strongest surges of growth in years (though that situation has also changed in the last several months). From a growth rate of more than 3% in 2018, the US economic growth has slowed to about 2.4%. Finance options for US and Canadian buyers remain strong, though, and balance sheets for the companies in both nations remain equally solid. Those factors helped contribute to growth in new aircraft sales last year. With the available pool of used aircraft currently below historical norms, demand increasing, and Chinese sellers looking to offload some of the more desirable models, used business jets in China are ripe for the sale… as long as potential buyers are ready to tackle the labyrinthine process of closing the transaction and dealing with the paperwork to export the jet from China and import it to another country.

Return to Sender: Financing Requires Extra Attention

Conversations with several aircraft finance firms and international dealers indicate a need to be diligent in handling the paperwork required in an international transaction. Buyers can expect financing companies to be more stringent in their

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terms, even for high-value, high-demand models. That equates to requirements for a larger downpayment, slightly higher interest rates and shorter terms. Yet, while those higher rates can vary, they don't have to be permanent, one loan expert explained. Once the jet is established on the US or international registry, its owner can often refinance the aircraft at more favorable terms after about a year on the existing note. Virtually every source contacted for the preparation of this story advised buyers contemplating an acquisition from China’s used jet market to obtain the services of an expert experienced in international sales. Prospects should start their search for a suitable expert focused on three areas: the aircraft make/model, the international elements, and the finance elements. While there are multiple ways to upset a transaction on each page of the associated documentation, the good news is that with the proper documents, airframe and engine logs, and maintenance records there are numerous firms willing to work with buyers to finance the purchase of a business jet from an operator in China. Just be prepared to pay extra attention to the Chinese side of the transaction, and don't assume that the process will work the same as for an aircraft purchased from a US operator. And once everything is ready to close, the buyer will face one more hurdle…

Satisfying the International Registry

Like every other country China has its distinct approach to business, domestically and internationally. Merely changing the registration of an aircraft is an involved process, and that's 72  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

AVBUYER.com

without factoring in the Cape Town International Registry (CTIR) which protects financial interests in aircraft and engine transactions. If certain criteria are met, domestic and international aircraft and engine transactions are subject to the CTIR. These conditions include: • • • •

Aircraft certificated to transport at least eight persons (including crew), or transport goods in excess of 6,050lbs. Helicopters certificated to transport at least five persons (including crew), or transport goods in excess of 990lbs. Piston or turboshaft engines rated equal to or greater than 550hp (or equivalent). Turbine engines with 1,750lbs or more of thrust.

Given the airplanes typically operating in China (Large Cabin and Ultra-Long-Range business jets) most sales out of China will be subject to the CTIR. Registry searches became a requirement after the US ratified the Convention creating the CTIR. Since March 1, 2006, owners of aircraft meeting these points have been required to conduct searches and register interests in aircraft and engines at the CTIR. In addition to the above requirement another ‘must’ is to conduct searches and file documents at the FAA. But just as the operator in China succeeded in buying and importing the aircraft from the US, so too can operators elsewhere succeed in moving that aircraft to a different nation. Remember: While it sounds simple in type, in reality the process involves more elements to resolve than moving an aircraft from New York to California. With the right team around you, however, the reward can be very worthwhile. ❙ www.AVBUYER.com


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Flight Planning April.qxp_Finance 19/03/2019 15:26 Page 1

FLIGHT PLANNING

An Insider’s Guide to Asia-Pacific Trip Planning What should business jet operators know before planning a trip

to Asia-Pacific? How can they ensure a successful visit to the region?

AvBuyer spoke with UAS’s Carlos Schattenkirchner to get his tips… arlos Schattenkirchner started his career in Business Aviation in 2007 and has since gained a wealth of experience in global operations. In 2015, he became senior operations manager at UAS’ Middle East Operations Center in Dubai, before relocating in 2017 as UAS Operations Director, China. Continuing to head up UAS’ Beijing operations today, Mr. Schattenkirchner is responsible for China, Hong Kong, Macau and Taiwan. As a key figure in UAS’ trip support services and executive travel services, AvBuyer caught up with him to better understand the need for thorough trip planning when traveling into the AsiaPacific region.

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AvBuyer: Looking back over the last few years, has Asia-Pacific become any easier for international and domestic Business Aviation operators to travel to? 74  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

Schattenkirchner: There has been tremendous development in Asia-Pacific in general. In the past 12 years, I have seen a huge growth in business jet activities across the board. Many challenges of the early days have improved, too. The language problems have certainly improved, there is now a larger presence of trip planning agents with a physical presence in the region which greatly assists operators in accessing the Asia-Pacific region. Also, the regional appreciation for – and understanding of – quality expectations is much better these days. While many countries have only recently started to allow FBOs to be established, there has been a major move already to create a more business jet-friendly environment at many main airports in the region. However, this is an ongoing process and we’re only at the beginning of the development with many gaps in different parts of the Asia-Pacific region still. www.AVBUYER.com

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Schattenkirchner: The Asia-Pacific region is one of the world’s largest and is very diversified. There are areas that require a special focus on security arrangements for the aircraft, crew and passengers. Visa regulations and health aspects are also an integral part of trip planning. In some regions, it’s not just looking for a Western servicestandard hotel, but aircraft safety needs also need to be reviewed. Such detailed preparation and consulting services can only be provided by companies demonstrating thorough experience and a strong and established network within the region. Many operators come to the region for more than a single stop. Often the trips cover multiple destinations. So, the key to a successful trip is not only to focus on one ‘critical’ destination but to address all issues at all stops in your trip planning. While a single operator might be able to focus on one airport, it is almost impossible to have that level of knowledge and experience throughout the region. With the fast pace of development in Asia-Pacific, the challenges (and knowledge) an operator might have had a few months ago could very quickly become outdated.

One of the remaining challenges is that many civil aviation authorities don’t yet see the full potential and value of Business Aviation. So, in many places we’re still missing a client-focused approach and operators face a lot of red tape. In general, the pace of development in Asia-Pacific is so rapid that we can also see infrastructural issues across the area. Many airports and nations have not been able to cater for rising demand for business jet activities. So, infrastructure remains a big challenge because not only has Business Aviation seen major growth but Commercial Aviation within the region has developed rapidly, which has seen many areas hit their limits. AvBuyer: How widely varied are the rules and regulations governing operators who fly to, and across Asia-Pacific? Schattenkirchner: This is still one of the main concerns. Rules and regulations remain un-adapted to Business Aviation needs. In many countries, there is no clear understanding of the differences. In China, for example, Private (ultimately Business) and Commercial Aviation are distinguished by aircraft size and seats. A few years ago we may not have seen many large business jets, but today it is common to see an Airbus ACJ320, or even the odd Boeing 787 in VIP configuration, operating as a business jet. However, some authorities still categorize such aircraft as commercial airliners and treat them as such in terms of permits, parking and slot procedures. AvBuyer: What is the current security situation for international operators flying into Asia-Pacific? Are there parts of the region where specific security measures need to be arranged as part of an overall trip planning package? www.AVBUYER.com

AvBuyer: Finally, what are the three aspects of the trip planning process for flights into Asia-Pacific that Business Aviation operators should not look to negotiate/compromise on? Schattenkirchner: The foremost priority for all operators is to select the right trip planning solution provider who can demonstrate they understand exactly what they need and has the necessary expertise and experience to foresee any issues they may face. Once you’ve done that, the first step would be an exhaustive planning phase that considers multiple factors - especially as AsiaPacific is not very flexible in terms of acquiring slots, parking or visa regulations. Start with a full overview of what is possible and what is not, so you know from the outset where flexibility isn’t possible. Because there are so many congested airports, improper planning will lead to incredible frustration once you cannot land at a desired time and date, or upon learning it will not be possible to depart when you need to. Next, clear communication is vital. While most operators understand about scheduling difficulties, they have little or no understanding of getting wrong or misleading information. If a certain schedule is simply not possible, most clients appreciate being informed at the start, rather than at the very last moment. This comes back to working with an experienced and trustworthy trip support partner who is not only fully aware of any potential restrictions, but also shows the importance of honest and open dialogue and true problem-solving. Finally, we come to the area of pricing. While everybody is aware that prices in Asia-Pacific are sometimes higher than in other parts of the world, clients can still get the feeling they are being taken advantage of by local suppliers. It is therefore vital for operators to find partners who they can rely on with transparent pricing and local knowledge of fees and costs. More information from www.uas.aero ❙

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How to Cut BizAv Operating Costs Responsibly What are the right areas of a flight department’s operations to target for

effective cost savings? What is the best way to make those savings without adversely impacting the operation? Andre Fodor offers some thoughts…

ot long ago I received an inquiry that opened the door on an unusual consulting job. The inquiry came from a flight department in need of an aviation professional to advocate on their behalf. This was a committed team of pilots, maintenance technicians and support staff with a vested interest in their company. Their objective was for their flight department to succeed. Collectively, they enjoyed their jobs, the equipment they flew, the geographic location of their home base and, above all, their camaraderie. What’s more, their employer was committed to General Aviation for the long haul.

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So what was the big concern for this flight department prompting their call? As they spoke about their situation, it became clear that the recent arrival of a non-aviation manager to run the flight department following the retirement of their previous coach had become a worry to them. The flight department had a good relationship with the new manager and wanted him to succeed. But without any depth of aviation experience, his knee-jerk cost-saving measures had caused an ebb in morale and operational disruptions. The flight department believed that if only they were represented by a seasoned aviation manager www.AVBUYER.com

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Ownership 2.qxp_Finance 19/03/2019 12:03 Page 2

AVBUYER.com 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.

“In his attempt to generate savings, however, he affected one of the smallest percentages of the budget but inflicted serious morale loss... ” with experience in streamlining and budgeting they would have a better channel for impacting the changes without being perceived as ‘complainers’. By offering solutions that would benefit cost reduction while maintaining high morale, they felt they could have a synergetic approach to problem solving. And since their employer had an open-door policy in place, once this concept was proposed, it was well received by this company’s forward-thinking management team. When a company develops a culture of team focus toward common goals and successes instead of personal gains, the path to problem solving becomes linear, progressive and unencumbered. This unique situation allowed us, as a team, to identify some savvy cost-saving measures, discarding the ones that didn’t work, and avoiding others that caused more harm than good. Following are some of the highlights that emerged from that team input.

Identify and Combat the High Cost Centers

A manager must have full visibility of the operational costs before making decisions that affect the budget. Data gathering and analysis www.AVBUYER.com

is crucial to understanding the costs associated with flying. In this instance, the new manager had a narrow view of the charges associated with flight operations and viewed crew expenses (i.e. hotels, meals and airlines) as an easy way to reduce cost and show service. In his attempt to generate savings, however, he affected one of the smallest percentages of the budget but inflicted serious morale loss, disrupting crew swaps and quality of life away from home for travelling staff. A broader view of the financials, however, would have helped him understand that fuel represented 51% of the budget. Therefore, developing a procurement program tied together with flight profiles for optimum burn efficiency and establishing a tankering policy would have yielded real tangible savings. Analyzing the expenses and cataloging them into cost centers clearly identifies the high cost areas in the running of a flight department, narrowing the prioritization of where and what to audit, and where to implement the actions that increase savings. As an example, having identified in-house maintenance was taking twice as long as it should have done (due to a lack of know-how) causing longer aircraft downtimes we could

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create a plan of action for bringing an OEM technician to work alongside the in-house technicians and improve upon aircraft-specific skills that had been lacking. The result (for a relatively small cost) was an improvement in the on-schedule return to service for the aircraft, and a significant gain of in-house technical knowledge.

Balancing Human Needs

Although some changes may be a matter of company policy (i.e. that business class airline tickets are only allowed on commuting flights in excess of eight hours), others should be beta tested before implementation. For example, replacing an international flight planning provider with one that charges significantly less could cause unintended operational disruptions if the delivered product is significantly different or of lower quality. Beta testing will give you the opportunity to assess the product’s quality without compromising your dispatch reliability.

Don’t Scrimp

There are ‘big ticket’ costs that you may think can be easily discarded. Within this operation, for example, the aircraft were meticulously cleaned after every flight. The new manager attempted to reduce the cleaning cycle but reverted his decision after we discussed the costs of carpet replacements, interior refurbishments and the downtime and costs of corrosion repair. My argument was that cleaning should have been defined as preventative maintenance, not cosmetic upkeep.

A similar example included early tire changes. We discussed this, and decided it was better to replace an aging tire in-house earlier than to have to deal with the costs and headaches of a tire failure while on an international trip.

Applying the LESR Rule

Ultimately, a flight department manager must ask whether the cost-cutting measure they are considering is legal, educated, safe and/or reasonable (LESR)? Make no mistake - taking a holistic approach to aviation cost cutting and savings is a part of any successful flight department. But before making decisions that impact the smooth operation of your department, take a moment to analyze the effects of your cost saving using the LESR rule and take a hard look at how this will affect your people and the quality of the service you provide.

In Summary

I am glad to say that the flight department that contacted me succeeded. The new manager, seeing the benefits of teamwork, created an advisory team that included flight department employees. His style of management changed from a vertical approach, to a more horizontal teamempowered process. Together that operation now identifies and implements effective cost savings without any adverse effect on morale, safety and the principal’s flight experience. The manager’s role is one of coaching his team and tapping individual skills that focus and strengthen the common goal of success. ❙

AvBuyer - Read by Flight Departments Throughout the World 78  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

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AirCompAnalysis March18.qxp_ACAn 19/03/2019 14:32 Page 1

JET COMPARISON

Aircraft Comparative Analysis Citation Latitude vs Citation Sovereign vs Hawker 850XP In this month’s Jets Comparison, Mike Chase provides information on the Cessna Citation Latitude. How will it compare against its Citation Sovereign stable-mate and the older Hawker 850XP? ver the following paragraphs we’ll consider key productivity parameters, including payload, range, speed and cabin size, and the current and future residual values for the Cessna Citation Latitude, Citation Sovereign and Hawker 850XP. Among the questions posed is whether a prospective buyer should purchase a new or used jet from this field?

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About the Competitors

First announced in 2011, the Cessna Citation Latitude design incorporates the Citation Sovereign wing design, utilizes twin Pratt & Whitney Canada PW306D turbofans and a cruciform tail. Its clean sheet, all metal stand-up circular fuselage comes with a flat floor design. The Citation Latitude first flew in 2014 and was certified in 2015. Since deliveries began this model has proven very popular with fractional ownership operators. The Citation Sovereign, meanwhile, was first delivered in 2004 and its strongest feature is its range. Offering the coast-to-coast capability of larger jets, it retains the features that make Mid-size Jets so advantageous, taking off in under 4,000 feet (still unmatched by other Mid-sized Jets today). The Citation Sovereign was replaced on the production line in 2013 by the Sovereign+ (providing winglets, and an improved flight deck and engines). The Hawker 850XP’s greatest feature is in its design; specifically,

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the addition of winglets. That slight modification improved the jet’s overall performance by creating a more aerodynamic aircraft over the Hawker 800XP that it is otherwise identical to. Production of the Hawker 850XP ended in 2009.

Fleet Data

As of this writing, there were 174 Citation Latitude business jets in operation, 86 of which are wholly-owned, four are in shared ownership, and a striking 84 are in fractional ownership. In January 2019, North America had the largest Citation Latitude fleet percentage (79%), followed by Europe (12%), accounting for a combined 91% of the fleet. By comparison, 348 Citation Sovereigns are in operation, and 287 are wholly-owned, while 17 are in shared ownership and 44 are fractionally owned. North America was home to 72% of the Citation Sovereign fleet in January 2019, followed by Europe (10%), and Asia and South America (6% each), accounting for 94% of the world’s fleet. Ninety-nine Hawker 850XP business jets remain in operation today. Of those, 97 are wholly-owned and two are in shared ownership. North America had the largest Hawker 850XP fleet percentage (64% as of January 2019), followed by Asia (15%) and Europe (12%). Together, these regions account for a combined 91% of the total fleet. www.AVBUYER.com

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www.AVBUYER.com HOW MANY

EXECUTIVE

SEATS

CESSNA

Citation Latitude

(Manufactured between 2015-Present)

vs.

$15.4 Million

9

$9.8 Million

9

$3.5 Million

8

(2018 Model)

CESSNA

Citation Sovereign (Manufactured between 2004-2013)

vs.

(2013 Model)

BEECHCRAFT Hawker 850XP

(Manufactured between 2005-2009) (2009 Model)

WHICH OF THESE MID-SIZE jets WILL COME OUT ON TOP HOW MUCH

RUNWAY

Cessna Citation Latitude

3,760

DO I NEED?

Cessna Citation Sovereign

(Balanced field length, ft)

Beechcraft Hawker 850XP 1000

1500

2000

HOW FAR

Citation Sovereign

2,678

CAN WE TAKE?

(Lbs)

2,544

Citation Sovereign Hawker 850XP

UNITS IN

OPERATION? 174

348

4500

5000

5500

2,650 2,120

HOW MANY NEW/USED SOLD

EACH MONTH?

LONG RANGE CRUISING SPEED? Citation Latitude Citation Sovereign

www.AVBUYER.com

(Knots)

372 388

Hawker 850XP

402

WHAT’S THE

COST PER HOUR?

2 (10.1%) 5 (4.6%)

6 (1.2%)

Citation Latitude Citation Sovereign

Sources used: Conklin & de Decker, JETNET, Vref, Chase & Associates

6000

WHAT’S THE

HOW MUCH

HOW MANY

99

4000

3500

Citation Latitude

2,871

Hawker 850XP

3000

PAYLOAD

(Nautical Miles. 4 Pax) 2,642

5,640 2500

CAN WE GO?

Citation Latitude

3,750

12-Month Average Figure (% = Global Fleet For Sale)

Hawker 850XP

$2,314 $2,430 $2,818

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JET COMPARISON

AVBUYER.com

Table A - Payload & Range

Payload & Range Comparison

Citation Latitude Citation Sovereign Hawker 850XP

30,800 30,300 28,000

11,394

11,223

10,000

Max Fuel (lb)

MTOW (lb)

2,544

2,650

Max Payload (lb)

2,120

1,000

1,177

1,790

Avail Payload w/Max Fuel (lb)

Source: OEM’s, JETNET, B&CA, Conklin & de Decker.

Chart A - Cabin Cross-Sections

Source: UPCAST JETBOOK

Chart B - Range Comparison Citation Latitude Hawker 850XP Citation Sovereign

2,678 nm (w/4 Pax) 2,642 nm (w/4 Pax) 2,871 nm (w/4 Pax)

2,135

2,268

2,394

MAX P/L w/avail. fuel IFR Range (nm)

A potential operator should focus on payload capability as a key factor when selecting the right aircraft for their need. Table A (left) shows the Hawker 850XP has an ‘Available Payload with Maximum Fuel’ of 1,790lbs. That is substantially more than the 1,177lbs offered by the Citation Sovereign and the Citation Latitude (1,000lbs).

Cabin Cross-Section Comparison

Chart A (left) shows a cabin cross-section comparison of the Citation Latitude, Citation Sovereign and Hawker 850XP (courtesy of UPCAST JETBOOK). As depicted, the Citation Latitude has the greatest cabin height and width of the field. According to OEM data, the Citation Latitude has a shorter cabin length (21.08ft) compared to the Hawker 850XP (21.3ft) and the Citation Sovereign (25.25 ft). However, the Citation Latitude has a greater overall cabin volume (587cu.ft). By comparison the Citation Sovereign has 571cu.ft and the Hawker 850XP has 551cu.ft cabin volume, per Conklin & de Decker. Working in the Latitude’s favor is its flat-floor, stand-up cabin design. The Citation Latitude and Citation Sovereign share the same external baggage volume (100cu.ft) whereas the Hawker 850XP offers no external baggage space. What it lacks externally, is made up for internally though: The Hawker 850XP offers greater internal baggage volume (50cu.ft) than the Citation Sovereign (35cu.ft) and the Citation Latitude (27cu.ft).

Range Comparison

As depicted in Chart B (left), using Wichita, Kansas as the origin point, the Citation Latitude (2,678nm) shows slightly more range coverage than the Hawker 850XP (2,642nm) but less than the Citation Sovereign (2,871). For business jets, ‘Four Pax Range’ represents the maximum IFR range of the aircraft at long range cruise with NBAA IFR fuel reserve and a 200nm alternate. This range does not include winds aloft or any other weather-related obstacles.

Powerplant Details

Source: Chase & Associates

82  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

The Citation Latitude and Sovereign are each powered by a pair of Pratt and Whitney engines. In the Latitude’s case, 5,907lbst PW306D engines were utilized and in the case of the Sovereign, 5,770lbst PW306Cs were selected. The Hawker 850XP flies on a pair of Honeywell TFE 731-5BR engines, each with 4,750lbst. The Time Between Overhauls (TBO) for the Citation Latitude and Citation Sovereign powerplants is 6,000 hours, whereas the TBO for the Hawker 850XP is 5,000 hours.

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8


Leading Edge April.qxp_Layout 1 18/03/2019 15:15 Page 1

2015 G650ER s/n 6144

Fwd. Galley & Crew Rest, U.S. Registered, 13 Pax Interior

2014 Falcon 2000LXS s/n 268

One U.S. Fortune 500 owner since new, Engines & APU on Programs

2007 Citation CJ3 s/n 525B-157

One U.S. Owner Since New, Engines on Programs, Operated Part 135

2004 Falcon 2000EX s/n 026

ADS-B Out w/ WAAS & LPV, Two U.S. Owners Since New, Excellent Maintenance History

2011 Gulfstream G450 s/n 4230

FANS 1/A+, ADS-B Out, WAAS/LPV, TCAS 7.1, One U.S. Owner Since New

2007 Citation CJ2+ s/n 525A-377

ADS-B Out w/ WAAS, 1570 Hrs. TT, Cessna Maintained

2001 Global Express s/n 9050

Low Time, U.S. Registered, Operated Part 135, New Interior

2005 Citation CJ2 s/n 525A-0242

3,000 Hrs. TT, TAP Preferred, ADS-B Out w/ WAAS, Cessna Maintained


AirCompAnalysis March18.qxp_ACAn 19/03/2019 15:06 Page 4

C JET COMPARISON

AVBUYER.com

Chart C – Cost per Mile*

Cost Per Mile Comparison

Citation Latitude

Chart C (left) details the ‘Cost per Mile’ for our comparative jets (per JETNET), and factors direct costs (no depreciation) and with each aircraft flying a 1,000nm mission with an 800lbs (four passengers) payload. The average US Jet-A fuel cost used for March 2019 was $4.85 per gallon. The Citation Latitude shows a lower cost per nautical mile at $6.72, compared to $7.02 for the Citation Sovereign and $8.00 for the Hawker 850XP.

$6.72 $7.02

Citation Sovereign Hawker 850XP

$8.00

$0.00

$3.00 $6.00 US $ per nautical mile

$9.00

* 1000nm mission costs (No Depreciation)

Total Variable Cost Comparison

Source: JETNET

The ‘Total Variable Cost’ illustrated in Chart D (sourced from JETNET), is defined as the cost of fuel expense, maintenance labor expense, scheduled parts expense and miscellaneous trip expense (including hangar, crew and catering costs). As depicted, the Latitude is the least expensive of the field on an hourly basis.

Chart D – Variable Cost Citation Latitude

$2,314 $2,430

Citation Sovereign Hawker 850XP

$2,818

$0

$1,000 $2,000 US $ per hour

Aircraft Comparison Table

$3,000

Source: JETNET

Table B - Aircraft Comparison Table Citation Latitude Citation Sovereign Hawker 850XP

372

388

402

Long Range Cruise Speed (Kts)

587

571

551

$15.400 $9.800 $3.500 2018 2009 2013

2,678 2,871 2,642

Cabin Volume 28,000 30,300 Cu Ft

New/Used Vref Price $USm

Range (4 Pax) nm

30,800

30,800

30,300 30,800

30,300 30,800 28,000

30,300 28,000

348

99

1.2%

28,000

4.6% 10.1%

6

30,300 30,800 28,000

5

2

Average Per Month Sold*

% For Sale

In Operation

* Average Full Sale Transactions in the past 12 months as of Jan. 2019; Source: JETNET. Date courtesy of Vref; JETNET; Conklin & de Decker

174

30,800

Chart E - Maximum Scheduled Maintenance Equity Citation Latitude

Assumed Annual Utilization: 400 Flight Hours Average Maximum Maintenance Equity: $2,223,982 Pct of Avg Max Mtnc Equity vs. Aircraft Age

100%

Pct of Max Mtnc Equity

90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

1

2

3

4

5

6

7

8

9

10

11

Aircraft Age (Years) Source: Asset Insight (www.assetinsight.com)

84  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

12

13

14

15

16

Table B (left) contains the new and used prices from Vref for the Citation Latitude (2018/new price), Citation Sovereign (2013/last year of production), and Hawker 850XP (2009/last year of production). The long-range cruise speed is from Conklin & de Decker, while the ranges, number of aircraft in-operation, percentage ‘For Sale’ and average sold are reported by JETNET. For the Citation Latitude, just 1.2% of its fleet was for sale as of the end of January 2019, while the Citation Sovereign had 4.6% for sale. The Hawker 850XP, meanwhile, had 10.1% of its fleet for sale. The average number of new/used transactions (sold) per month is six for the Citation Latitude over the past year. By comparison, an average of five used Sovereign transactions and two used Hawker 850XP transactions were recorded over the past 12 months.

Maximum Scheduled Maintenance Equity

Chart E (left) depicts, and projects the estimated Maximum Maintenance Equity the Citation Latitude has available based on its age. The Maximum Maintenance Equity figure was achieved the day the aircraft came off the production line since it had not at that point accumulated any utilization toward any maintenance events. Here, the percent of the Maximum Maintenance Equity that an average aircraft will have available based on its age, assumes average annual utilization of 400 flight hours, and that all maintenance has been completed when due.

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IBA April.qxp_Layout 1 19/03/2019 10:08 Page 1

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AirCompAnalysis March18.qxp_ACAn 20/03/2019 10:55 Page 5 M

JET COMPARISON

Table C - MACRS Depreciation Schedule Citation Latitude 2018 Citation Latitude

Depreciation Schedule

- PRIVATE (PART 91)

Full Retail Price - Million $15.400 Year

1

Rate (%)

20.0%

Depreciation ($M)

$3.080

Depreciation Value ($M)

$12.320

Cum. Depreciation ($M)

$3.080

2

32.0%

$4.928

$7.392

$8.008

4

3

11.5%

$1.774

$2.957

$4.435

$10.965

2018 Citation Latitude

5

11.5%

19.2%

$2.661

$12.730

$1.774

$0.887

$14.513

6

5.8%

$0.887

$0.000

$15.400

- CHARTER (PART 135)

Full Retail Price - Million $15.400 Year

1

Rate (%)

14.3%

Depreciation ($M)

$2.201

Depreciation Value ($M)

$13.199

Cum. Depreciation ($M)

$2.201

2

24.5%

$3.771

$9.428

$5.972

3

17.5%

$2.693

$6.734

$8.666

4

5

12.5%

8.9%

$1.923

$4.811

$10.589

$1.375

$3.436

$11.964

6

8.9%

$1.374

$2.062

$13.338

7

8.9%

$1.375

$0.687

$14.713

8

4.5%

$0.687

$0.000

$15.400

Source: Vref

Table D - MACRS Depreciation Schedule Citation Sovereign 2013 Citation Sovereign

- PRIVATE (PART 91)

Full Retail Price - Million $9.800 Year

1

Rate (%)

20.0%

Depreciation ($M)

Depreciation Value ($M)

Cum. Depreciation ($M)

$1.960

$7.840

$1.960

2

32.0%

$3.136

$4.704

$5.096

3

19.2%

$1.882

$2.822

$6.978

2013 Citation Sovereign

4

5

11.5%

11.5%

$1.129

$1.129

$1.693

$0.564

$8.107

$9.236

6

5.8%

$0.564

$0.000

$9.800

- CHARTER (PART 135)

Full Retail Price - Million $9.800 Year

1

Rate (%)

Depreciation ($M)

Depreciation Value ($M)

Cum. Depreciation ($M)

14.3%

$1.400

$8.400

$1.400

2

24.5%

$2.400

$6.000

$3.800

3

17.5%

$1.714

$4.286

$5.514

4

5

12.5%

8.9%

$1.224

$0.875

$3.062

$2.186

$6.738

$7.614

6

8.9%

$0.874

$1.312

$8.488

7

8.9%

$0.875

$0.437

$9.363

8

4.5%

$0.437

$0.000

$9.800

Source: Vref

Table E - MACRS Depreciation Schedule Hawker 850XP 2009 Hawker 850XP - PRIVATE (PART 91) Full Retail Price - Million $3.500 Year

Rate (%)

Depreciation ($M)

Depreciation Value ($M)

Cum. Depreciation ($M)

1

20.0%

$0.700

$2.800

$0.700

2

32.0%

$1.120

$1.680

$1.820

3

19.2%

$0.672

$1.008

$2.492

4

11.5%

$0.403

$0.605

$2.895

5

11.5%

$0.403

$0.202

$3.298

6

5.8%

$0.202

$0.000

$3.500

2009 Hawker 850XP - CHARTER (PART 135) Full Retail Price - Million $3.500 Year

Rate (%)

Depreciation ($M)

Depreciation Value ($M)

Cum. Depreciation ($M)

1

14.3%

$0.500

$3.000

$0.500

2

24.5%

$0.857

$2.143

$1.357

Source: Vref

86  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

3

17.5%

$0.612

$1.531

$1.969

4

12.5%

$0.437

$1.093

$2.407

5

8.9%

$0.313

$0.781

$2.719

6

8.9%

$0.312

$0.469

$3.031

7

8.9%

$0.313

$0.516

$3.344

8

4.5%

$0.156

$0.000

$3.500

Aircraft that are owned and operated by businesses are often depreciable for income tax purposes under the Modified Accelerated Cost Recovery System (MACRS). Under MACRS, taxpayers can use accelerated depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period. In certain cases, aircraft may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS) where depreciation is based on a straight-line method, meaning that equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are longer than recovery periods available under MACRS. There are a variety of factors that taxpayers must consider in determining if an aircraft may be depreciated, and if so, the correct depreciation method and recovery period that should be utilized. For example, aircraft used in charter service (i.e. Part 135) are normally depreciated under MACRS over a seven-year recovery period, or under ADS using a twelveyear recovery period. Aircraft 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 aircraft, such as non-business flights, that may have an impact on the allowable depreciation deduction available in any given year. The US enacted the 2017 Tax Cuts & Jobs Act into law on December 22, 2017. Under the new Act, taxpayers may be able to deduct up to 100 percent of the cost of a new or preowned aircraft purchased after September 27, 2017 and placed in service before January 1, 2023. This 100% expensing provision is a huge bonus for aircraft owners and operators. After December 31, 2022 the Act decreases the percentage available each year by 20% to depreciate qualified business jets until December 31, 2026. Table C, D and E (left) depict an example of using the MACRS schedule for a 2018 Cessna Citation Latitude, 2013 model Citation Sovereign and 2009 model Hawker 850XP, respectively. Incorporated are MACRS schedules for private (Part 91) and charter (Part 135) operations over five- and seven-year periods.

Asking Prices & Quantity

The current used market for the Citation Latitude aircraft shows a total of two jets â&#x20AC;&#x2DC;For Saleâ&#x20AC;&#x2122;, with asking prices of $13.8m and www.AVBUYER.com

w


AirCompAnalysis March18.qxp_ACAn 20/03/2019 09:12 Page 6

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Productivity Comparisons

The points in Chart F (top, right) center on the same aircraft. Pricing used in the vertical axis is as published in the Vref Pricing Guide. The productivity index requires further discussion in that the factors used can be somewhat arbitrary. Productivity can be defined (and it is here) as the multiple of three factors: 1. 2. 3.

Chart F - Productivity Comparison $18.0

2018 Citation Latitude

$16.0

Price (Millions)

$13.9m. For the Citation Sovereign, 16 aircraft are listed for sale, seven of which display asking prices ranging between $4.995m and $9m. For the Hawker 850XP used market, there are 10 aircraft for sale with eight displaying asking prices ranging from $2.5m to $3.85m. While each serial number is unique, the Airframe Total Time (AFTT) 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.

$14.0 $12.0

2013 Citation Sovereign

$10.0 $8.0 $6.0 $4.0

2009 Hawker 850XP

$2.0 $0.0 0.0000

0.600

0.300

0.900

1.200

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

Chart G

Four Passenger Range (nm) with available fuel; The long-range cruise speed flown to achieve that range; The gross cabin volume available for passengers and amenities.

Others may choose different parameters, but serious business aircraft buyers are usually impressed with price, range, speed and cabin size. The Citation Latitude demonstrates a high level of productivity, at a higher price. In summary, the Latitude slightly edged out the Citation Sovereign and Hawker 850XP in terms of cabin volume, and it also has the lowest cost per mile and variable cost per hour. Meanwhile, the ‘Available Payload with Maximum Fuel’ for the Hawker 850XP was much greater compared to rest of the field, while the Citation Sovereign offers greater range than either the Citation Latitude or the Hawker 850XP.

Future Residual Values

In Chart G (courtesy of Asset Insight) all three of the business jets’ current residual value is projected for the next five years. While all three business jets show declining future residual values from 2019 to 2024, the Citation Latitude is expected to decline by $5.6m (35.6%), the Citation Sovereign by $3.033m (38.2%), followed by the Hawker 850XP by $1.567 or 42.2%.

In Summary

Within the preceding paragraphs we have touched upon several of the attributes that business aircraft operators value. There are other qualities such as airport performance, www.AVBUYER.com

terminal area performance and time to climb that might factor in a buying decision though. Operators should weigh up their mission requirements precisely when picking which option is the best for them. ❙ Mike Chase’s analytical and consultancy services are highly valued within the Business Aviation industry. He is founder and president of Chase & Associates, and works closely with several respected sources to compile his unique Aircraft Comparative Analysis feature. Contact Mike via mike@avbuyer.com

Compare, Contrast, Decide with

AvBuyer AVBUYER MAGAZINE  Vol 23 Issue 4 2019 

87


Values Intro NOV.qxp_Finance 19/03/2019 12:08 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.

W

88  Vol 23 Issue 4 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 1999 through Winter 2018 (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 Cessna Grand Caravan reported in the Winter 2018 edition of the Bluebook shows US$1.8m for a 2012 model, US$1.7m for a 2011 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 92 of this issue.

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Aradian April.qxp 18/03/2019 15:16 Page 1

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1996 hours. VVIP interior. Air conditioning. Aux fuel

1550 hours. Utility equipped with cargo hook

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Retail Values April2019.qxp_RPG 19/03/2019 14:13 Page 1

VALUES - TURBOPROPS

Turboprops: Average Retail Price Guide MODEL YEAR $

2018 US$M

2017 US$M

2016 US$M

2015 US$M

2014 US$M

2013 US$M

2012 US$M

2011 US$M

6.5

6.0

5.3

4.7

4.2

3.9

3.5

3.3

5.0

4.5

3.6

3.5

3.4

3.3

3.2

2010 US$M

2009 US$M

MODEL BEECH KING AIRS KING AIR 350I

3.2

KING AIR 350

3.0

KING AIR 250 KING AIR B200

3.1

2.8

KING AIR B200GT KING AIR C90GTX

3.5

3.1

2.6

2.3

2.1

1.9

1.8

2.7

2.6

1.750

1.7

KING AIR C90GTI

2.5 1.650

KING AIR C90GT KING AIR C90B KING AIR C90SE CESSNA CARAVANS 208 GR. CARAVAN- EX

2.475

2.3

2.250

2.2

2.1

208 GR. CAR-675/G1000

2.0 1.9

1.8

1.7

1.625

208B GR. CARAVAN

1.525 1.375

208B SUP. C/MASTER EX

2.2

2.150

2.050

1.950

1.850

208B SUP. C/MASTER/G1000

1.8

1.7

1.6

1.5

208B SUP. C/MASTER 208 CARAVAN-675/G1000

1.9

1.8

1.775

1.750

1.725

1.7

1.650

6.4

5.8

4.7

4.3

4.1

PIPER M600

2.750

2.550

2.3

PIPER M500

2.0

1.8

1.7

1.6

1.5

1.450

4.8

4.3

3.8

3.3

2.9

2.7

2.5

3.9

3.8

3.6

3.5

3.4

3.3

3.2

1.450

1.350

1.3

1.2

1.150

1.125

1.5

1.4

1.3

1.2

1.150

2.4

2.2

2.1

208 CARAVAN-675 PIAGGIO AVANTI - P180 PILATUS PC-12/47E NG PILATUS PC-12/47 PILATUS PC-12/45

PIPER MERIDIAN-PA46-500TP

1.550

QUEST KODIAK-100

2.1

2.0

SOCATA TBM 910

3.7

3.5

SOCATA TBM 930

4.0

3.8

SOCATA TBM 900

1.9

1.650

3.1

2.8

3.4 3.2

SOCATA TBM 850

1.850

2.0

1.9

SOCATA TBM 700C2/EFIS SOCATA TBM 700B/EFIS AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM

90  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

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Retail Values April2019.qxp_RPG 19/03/2019 14:11 Page 2

AVBUYER.com

What your money buys today

Winter 2018 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

1999 US$M

MODEL YEAR $ MODEL BEECH KING AIRS KING AIR 350I

2.9

2.8

2.7

2.6

2.5

2.2

2.1

2.0

1.950

1.875

KING AIR 350 KING AIR 250

2.3

2.2

2.1

2.0

1.9

1.8

1.7

1.650

1.550

2.4

KING AIR B200 KING AIR B200GT KING AIR C90GTX

1.6

KING AIR C90GTI 1.5

1.450

KING AIR C90GT 1.4

1.350

1.3

1.250

1.2

1.150

1.075

KING AIR C90B

0.775

0.750

KING AIR C90SE CESSNA CARAVANS 208 GR. CARAVAN- EX

1.425 1.350

208 GR. CAR-675/G1000 1.325

1.250

1.125

1.075

1.050

1.0

0.950

0.9

0.875

208B GR.CARAVAN 208B SUP. C/MASTER EX

1.4 1.350

208B SUP. C/MASTER/G1000 1.3

1.250

1.2

1.150

1.1

1.050

1.0

0.950

0.900

208B SUP. C/MASTER 208 CARAVAN-675/G1000

1.275

1.225

1.175

1.075

1.050

1.0

2.2

2.0

1.850

1.750

1.650

1.550

0.950 1.5

0.9 1.4

0.850

0.825

1.350

PIAGGIO AVANTI - P180

3.1 2.8

208 CARAVAN-675

PILATUS PC-12/47E NG 2.7

2.6

PILATUS PC-12/47 2.5

2.4

2.3

2.2

2.1

2.0

1.9

PILATUS PC-12/45 PIPER M600 PIPER M500

1.025 1.1

0.950

0.9

0.850

0.775

0.725

0.675

0.625

PIPER MERIDIAN-PA46-500TP

1.075

QUEST KODIAK-100 SOCATA TBM 910 SOCATA TBM 930 SOCATA TBM 900

1.8

1.7

1.6 1.450

SOCATA TBM 850 1.350

1.3

1.250

SOCATA TBM 700C2/EFIS 1.2

1.150

1.1

1.075

SOCATA TBM 700B/EFIS

AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM

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ACSpecs Intro.qxp_AC Specs Intronov06 19/03/2019 12:11 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.

Tel: +44 (0) 208 255 4000; Email: editorial@avbuyer.com © 2019 Conklin & de Decker Associates, Inc., P.O. Box 1142, Orleans, Massachusetts, 02653, Tel. 508-255-5975, www.conklindd.com

Description of Cost Elements

The following describes the content of each cost element used in The Aircraft Cost Evaluator. There are no sales taxes included in these costs.

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 19/03/2019 12:12 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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ï&#x20AC;¹

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 MAGAZINE R VOL 23 Issue 4 2019 R

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Specifications.qxp_PerfspecDecember06 19/03/2019 12:13 Page 2

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)

AVBUYER.com

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.

94  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

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Wright Brothers September.qxp_Layout 1 18/03/2019 15:39 Page 1


Connectivity.qxp_Finance 19/03/2019 12:20 Page 1

CONNECTIVITY

Understanding Jet Connectivity Options Internationally Private jet connectivity solutions have made major advances in larger cabin aircraft, and within smaller aircraft flying in continental North America. But how are the choices advancing for operators internationally? Brian Wilson explores…

S

uitable satellite solutions for Large Cabin jets have materialized over the last few years with the introduction of Ka-band, and the revitalization of Ku-. Many articles have been written covering the pros and cons of each system. The adoption rate on the Large Cabin jets has been noteworthy. Customers seem to be satisfied with the features, bandwidth and coverage area provided by these high-end systems. However, due to the size of the antenna, the costs of the hardware, installation

96  Vol 23 Issue 4  AVBUYER MAGAZINE

and service, they are tailored to the top-tiered aircraft in our industry. So what are the options for the Small to Midsize aircraft, or even the Large Jet operators that don’t have the budget for Ka- or Ku-band? Their need for cabin connectivity is just as important. What’s more, they represent most of the fleet worldwide.

What’s Available for Your Aircraft Today?

For those operators who don’t fit into the upper echelon of Ka- and Ku-band adopters,

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Connectivity.qxp_Finance 19/03/2019 12:20 Page 2

AVBUYER.com Brian Wilson is the Director, Key Accounts at Gogo Business Aviation, an industry-leading provider of inflight connectivity and entertainment solutions. Prior to Gogo, he sat on numerous Dealer Advisory Boards along with being a member of the AEA Board of Directors.

the solutions available today consists of a short list with noticeable limitations. Iridium: A constellation of 66 Low Earth Orbit (LEO) satellites orbiting 476 miles from the earth, Iridium provides true worldwide coverage for customers. Currently, Iridium provides unparalleled voice communication anywhere in the world. Currently, the datalink is merely a tool to send text messages or non-graphical emails without attachments. Surfing the internet, downloading documents or performing any type of social media is prohibited by the data speed. Iridium, as it stands today, is more suited to the owner/operator who might make a few phones calls or send a few texts messages while flying. Swift Broadband (SBB): Following the full deployment of Inmarsat’s I-4 satellite constellation in 2009, SBB quickly became the industry leader in meeting the connectivity requirements of international operators. Each I-4 satellite combines 228 spot beams with 19 regional beams allowing for much higher data speeds when compared to its I-3 predecessor. More importantly, the technology was designed with smaller antennae which provided a viable solution to Small and Midsize aircraft. The three primary antenna and service options are categorized as follows: 1. High Gain Antenna (HGA): Class 6 (432Kbps) 2. Intermediate Gain Antenna (IGA): Class 7 (332Kbps) 3. Low gain Antenna (LGA): Class 15 (200Kbps) The antenna size is directly correlated with the coverage area. The Class 6 HGA covers most of the world except for the north and south polar regions. The HGA solution is better suited for larger jets due to the size of the antenna, which is usually mounted on the top of the tail section underneath a radome. The IGA and LGA, by contrast, are fuselage mounted antennas. The LGA Class 15 has the least coverage area. However, this product was designed for the smaller jets that don’t typically fly oceanic routes. Although the data speeds can be increased somewhat through compression and bundling www.AVBUYER.com

of channels, SBB is not able to keep up with the increased demands for bandwidth from the flying public. Inmarsat sells its service through distribution partners who package the data pricing, handle the billing and provide technical support to the aviation community. Operators should be aware that monthly billing rates can exceed tens of thousands of dollars, meaning that proper monitoring of data usage coupled with setting threshold notifications is a necessary practice. Nevertheless, SBB continues to be the primary solution for most of today’s international business jet market.

What Alternative Solutions are Coming to Market?

If you were to type ‘futuristic satellite solutions’ into any search engine, the results will yield a plethora of ‘magic dust’ concoctions. Having already ordained the Kuand Ka-band solution for the Large jet market, we will focus on viable alternative solutions for the Small to Mid-size jet operators. Qualifications include: • • • •

The service must be available in the next 9– 18 months; The network is fully funded and in position; The aircraft flight testing has been vetted and documented; and Regulatory approval has been achieved (or time stamped) before the service launch.

Certus: With the launch of the SpaceX Falcon 9 rocket out of Cape Canaveral, Florida on January 11, 2019, Iridium’s new constellation of 75 satellites was completed. 66 of these satellites will serve as the active network and the remaining nine will serve as backups. Although the Certus network is now live, service for the aviation community will not begin until Q4 2019, or possibly Q1 2020. The LEO satellites will provide coverage anywhere in the world, including the polar regions. The network will provide both voice and data services. The satellites are ‘backwards compatible’, meaning they will work with the Iridium equipment currently installed onboard your aircraft. To benefit from the increased data

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CONNECTIVITY

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speeds and improved voice quality, operators will need to perform an upgrade of their system. The proposed data speeds range from 881,408kbps and will roll-out sequentially. Most service providers will forgo the two lower rates of 88/176kbps and focus on the latter three (352, 704 and 1408kbps). The reasoning is that the two lower speeds do not provide the bandwidth needed by the aviation community; whereas the other three are similar to SBB and have the increased coverage area. The Iridium Certus network will keep you connected from take-off to landing anywhere in the world, and the top mounted fuselage antenna will accommodate Small to Mid-size aircraft due to its compact size, removing the need to be placed under a radome. This is an advantage over SBB which requires a tail mounted high gain antenna (HGA) to achieve its 432Kbps data speed. The smaller antenna and increased coverage area are compelling reasons for new operators to consider Certus for their aircraft. However, since equipment and service pricing have not yet been

C

defined, existing SBB customers should wait and see whether competition reduces the service plans available today. Certus could also open the door to adopting satcom as a primary means of communications in lieu of HF when over the oceanic regions. Iridium is already a source for safety services and Certus will most certainly continue that trend. European Aviation Network (EAN): EAN is a hybrid Satellite and Air-to-Ground (ATG) network that will cover all members of the European Union, as well as Norway, Switzerland and the UK. The hybrid network consists of one Inmarsat S-band satellite and roughly 300 Deutsche Telekom ground towers. The multi-beam satellite is a complement to the 4G LTE ground network. This unique combination is designed to use the best link to provide customers with the fastest performance and deliver the capacity required within the stated coverage area. The ATG component resembles the successful model used by Gogo Business Aviation in the US.

Iridium Certus Plan Offerings

Availability to Market

Equipment Modification

Certus 350 (352kbps)

Q4 2019 or Q1 2020

Hardware and antenna

Certus 700 (704kbps)

Q4 2019 or Q1 2020

Hardware and antenna

Certus 1400 (1,408kbps)

Q4 2021 or Q1 2022

Hardware and antenna*

* Certus 1400 will require a ‘second’ upgrade to the existing system

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1


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Connectivity.qxp_Finance 19/03/2019 12:22 Page 4

CONNECTIVITY

Both use belly-mounted antennae to communicate with the hundreds of ground-based towers. However, the EAN solution will also require an antenna mounted on the top of the fuselage for satellite transmissions. The airline model will use two belly mounted antennas; whereas the corporate design indicates a single antenna. To complete the system profile, four additional line replacement units will need to be installed with the total shipset weight between 30-35lbs. Data speeds have not yet been widely publicized, though test flights have demonstrated the ability to stream content, use of a corporate VPN and Facetime calling. It’s important, however, to point out that these capabilities were established with the two-antenna configuration. Based on the design of current ATG systems in service today, a one-antenna solution will create a few technical challenges to overcome in order to achieve similar results. Moreover, flying one aircraft in close vicinity of a tower is akin to being at an airport where you are the only one using the public Wi-Fi. In short, EAN has yet to prove it can achieve its goal when hundreds of aircraft are flying and sharing the network. Another resemblance between EAN and ATG is in the rollout to the aviation community. Gogo first successfully launched the ATG network with the airlines before penetrating the private jet market. EAN is following a similar path. Beta testing has been completed and the anticipated launch for the favoured airline partners is expected later in 2019. As of this writing, no date has been given for the business jet community although the expectation is for some time in 2020.

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Growing International Connectivity Options

Once these new systems have been introduced to the aviation community, operators will have more options for connectivity. And based on the implementation period, it’s safe to say that a few additional solutions will move from their current design phase into a funded and tangible product over the next 18 months. The true paradigm shift will occur when the increased competition drives down the cost of service. In my experience the most inhibiting factor for operators when deciding whether to move forward with an international connectivity solution is the cost of the monthly service. The combined yearly service costs can exceed the installation costs within as little as 1-3 years. To get the best value, operators should review the options that fit both their flight profile and the mission of the aircraft. Remember to factor in the antenna size limitation, and don’t be surprised if this results in a dual configuration for your aircraft. Air to Ground (ATG) networks will continue to deliver faster data speeds over satellite solutions for Small to Mid-sized jets until a breakthrough in antenna technology permits Ka- and Ku-bandtype data speeds to work with smaller fuselage antennas. Many technological advancements must happen to achieve this monumental milestone, however. Until then, the good news is that you now have more choices, and by just understanding “why” there are limitations for your aircraft category, you can right-size the “experience” expectations for your passengers. ❙

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Connectivity 2.qxp_Finance 19/03/2019 12:28 Page 1

CONNECTIVITY

How Safe is Your Jet Connectivity? What are the realities and myths of in-flight cyber threats? How should operators and providers act to ensure safe cabin connectivity? AvBuyer spoke with Doug Young, VP, software architecture, Gogo Business Aviation to learn more...

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Connectivity 2.qxp_Finance 19/03/2019 12:27 Page 2

AVBUYER.com

abin connectivity has been developing in business aircraft cabins at an exhilarating rate over the past decade. Today, even operators of relatively small cabin aircraft can enjoy continual Wi-Fi access and text messaging on domestic flights, while operators of larger trans-continental jets can experience all the connectivity and entertainment they would expect at home or in the office, virtually anywhere they fly on the planet. But as quickly as these capabilities and opportunities have developed, so has the need for the providers of in-flight connectivity to stay ahead of the cybersecurity challenges and threats that arise. “At Gogo, we like to say security is built in and not bolted on,” Doug Young, vice president, software architecture, Gogo Business Aviation told AvBuyer in a recent interview. “By that, we mean every aspect of our telecom network as well as the hardware and software of the onboard systems.”

C

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Young has enjoyed a career in software consultancy stretching back to 2005. He joined Gogo Business Aviation in 2012, initially as a software consultant and since 2015 as vice president, software architecture. Responsible for thinking strategically and operating tactically to drive and deliver on Gogo’s software technology vision, Young ensures that all systems are built and executed to provide the best customer facing experience. “We start thinking about cybersecurity before we write the first line of code, before we design the first piece of hardware,” he elaborates. “Cybersecurity is part of the conversation at product inception all the way through the product development lifecycle. “Whether it's how we secure a cell site, how we try to prevent malicious software from being put into one of the LRUs that we build and install in an airplane, or whether it's how we do intrusion detection in our data centers to ensure

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CONNECTIVITY

that no bad actors can get into our environment – it's all encompassing,” Young says. Within the cabin of a business jet the nature of work can often be of a sensitive or confidential nature as a corporation transports its most productive and senior personnel. Such forwardthinking approaches to the threats to privacy are no less than a private jet operator would expect without ever really thinking about the effort that goes into the process. “Because we uniquely operate and manage our systems end-to-end, Gogo can monitor and analyze the security of our network and onboard systems,” Young adds. “And, through our own standards – or in partnership with the FAA and other aviation stakeholders – we’re solving cybersecurity problems before they happen, so operators can connect confidently when they fly.” And it’s with this grounding in the measures Gogo Business Aviation takes to protect the data of its customers that AvBuyer asked a few more cybersecurity questions of Mr. Young to understand more… AvBuyer: Can you tell us a little about the history of cybersecurity in relation to Business Aviation? How have you seen it evolve and what priorities have driven this evolution? Young: In the earliest days, when people were using analog mobile phones, anyone with a scanner could listen to the phone conversations. So, when we built our air-to-ground (ATG) network we took the security of the link into account and secured the network with Code Division Multiple Access (CDMA) technology. CDMA is the technological backbone used by two of the largest wireless network providers in the US and others around the world. All data transmitted over the network is secured through licensed spectrum with proprietary link layer encapsulation for secure air-to-ground communications. 104  Vol 23 Issue 4  AVBUYER MAGAZINE

And when we designed and built our latest systems on the AVANCE platform we did so using hardware and software security features with cybersecurity in mind. Not only could people not eavesdrop on conversations, but the platform itself could be as secure as possible. AvBuyer: Despite the high level of attention addressing cybersecurity concerns, are there any commonly held myths that you hear in relation to cabin connectivity on business aircraft? Young: Some in our industry would have you believe that you’re at greater risk of an attack when you’re connected from your aircraft. That simply isn’t true. The level of risk is the same in the air as it is on the ground and the same practices you implement to protect your information and data on the ground should also be used in the air. For example, if you use a VPN when you connect from a laptop when you’re on the ground, you should use a VPN when you connect from a laptop in your business jet. If an email looks suspicious and you wouldn’t open it in your office or at home, then don’t open it when you’re in your business jet. Another myth is that aircraft connected from the air are at risk because a hacker might be able to take control of the cockpit or engines via the onboard connectivity system. That’s not true and it’s not possible. By design, the onboard aircraft communications equipment is isolated from the cockpit network, so other airborne system components cannot be accessed from the Wi-Fi being used in the cabin. As we were looking at the entire threat landscape, what we realized is that the biggest threat is not the hacker in a hoodie (that’s something that’s been perpetuated by the industry). The bigger concern is from the highly sophisticated criminal networks that are highly organized. They have extremely high financial goals and standards. www.AVBUYER.com

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These networks model themselves after a highfunctioning business, and their business is to compromise companies and steal their intellectual property for financial gain or to perpetrate financial fraud upon them. The threats are real and that’s why this needs to be taken seriously. You must be diligent. AvBuyer: How might the challenges of cybersecurity differ depending on where an airplane is flying? Young: Cyberpiracy and cybercrime is constantly changing. It's important for us (or any other connectivity provider you may be using) to be adaptable in cybersecurity or in any part of our (their) business. It's important because having developed broadband for airborne use we’ve had to continually adapt. Speaking for Gogo, we can provide a secure connection for our customers because we own the entire experience. Every piece of the infrastructure that we provide to our customers we secure, monitor and ensure it is as tightly protected as it can be from bad behaviors. It’s one of the benefits only a truly vertically - integrated player can provide. When someone travels outside the US, if they’re using their cabin connectivity system, they are using a satellite-based system which brings new challenges. It is important for a customer using satellite connectivity to speak with their provider about how they secure their networks and systems. In certain countries, if you’re flying over or are on the ground, you need to be very diligent to protect your data from being compromised. AvBuyer: While cabin connectivity providers go to great lengths to ensure cybersecurity is optimized in their equipment, what are the practical steps jet operators can take? www.AVBUYER.com

Young: Whether you're in the air or on the ground, the persistent cybersecurity threats are always there. As mentioned, those behind the threats are trying to compromise your company's intellectual property, and they're trying to perpetrate financial fraud upon your company. This is true whether you're on the ground, in the air, traveling in your car, at home or in a hotel. It's important to understand that cybersecurity is a team sport. It takes everyone to battle these cyber criminals. Whether it's Gogo (as your service provider), your corporate IT department which has been fighting this battle within your home office for many years, or our regulatory partners at the FAA, all these people – and the collaboration amongst all the groups and organizations – is extremely important in understanding and preventing your data from being compromised while in flight. Gogo suggests you consult with your IT department. It's vital to follow your corporate IT policies and always be vigilant. This isn’t just about not clicking on suspect links in emails, but always being watchful for things that don’t look right. If something looks fishy, keep on the side of caution. You can use a corporate VPN with airborne networks just like you can on the ground. Most in-flight connectivity providers support this idea. Consider the way you connect from your aircraft as similar to how you use your mobile device on the ground. People who fly on corporate aircraft ultimately lead very busy lives. That's one reason why they have such high expectations for in-flight wireless. Ultimately, when they go to their flight department, and when they step on their aircraft and they use the Gogo network, we believe the time they are on their aircraft is the most secure time of their day. ❙ More information from https://business.gogoair.com/ AVBUYER MAGAZINE  Vol 23 Issue 4 

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How to Understand the ADS-B Aircraft Integration With the mandate drawing ever closer, Ken Elliott discusses all the needto-know aspects of ADS-B with a focus this month on aircraft integration…

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DS-B was developed to overcome the limitations of radar as a means of openly broadcasting and sharing key information regarding the in-flight intention of aircraft operations within the vicinity of Air Traffic Control (ATC). Not only can ATC receive useful aircraft data to better manage air traffic, but other aircraft can take advantage of the same broadcasted data, if suitably equipped with ADS-B In. Currently most operators are being equipped with the ADS-B Out broadcast feature only, which is essential for air traffic management and is mandated to be installed by the start of 2020. Somewhat ironically, it’s the smaller GA aircraft

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community (as opposed to the ‘heavy iron’ operators) that has embraced ADS-B In, taking advantage of its additional graphical weather features. ADS-B In is not yet fully defined in terms of what you will need to display.

Understanding ADS-B Out Equipage

So, what is the minimum equipage for ADS-B Out? In short, you need a certain category of Transponder and GPS along with some form of reliable fail annunciation. This all sounds simple enough, and for some it really is. But for many it becomes a significant aircraft integration project that is costly and time consuming. Avionics OEMs (dominated by Honeywell www.AVBUYER.com

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AVBUYER.com Ken Elliott is a highly respected industry authority on avionics as a member of the NextGen Advisory Council sub-committee, and oversees engineering and mentoring at West Star Aviation. Contact him via kenelliott@wsa.aero or www.weststaraviation.com

Aerospace, Collins Aerospace and Garmin) figured out long ago that the way to succeed in aviation is to control the product evolution from beginning to end. In other words, designing a completely integrated cockpit while at the same time limiting access to its software and communication platform by third-party vendors creates a good chance of preventing others from competing on the same aircraft platform and its derivatives. This maintains a future-proof revenue stream in product improvements. The impact on ADS-B integration, however, can be significant for some operators. Rather than simply add ADS-B Out to the existing cockpit avionics, the manufacturer might bundle it with a number of other features such as LPV-WAAS, Synthetic Vision, Graphic Maps, Weather and more. The upgrade is usually branded in some way and will involve software and sometimes hardware changes, impacting remote circuit cards, cockpit controllers and displays. While there may still be some options to select within the branded upgrade, it is atypical to find an ADS-B Out solution available on its own. The industry argument for taking the OEM route for an ADS-B Out upgrade, is the possible impact to aircraft resale and conformity concerns of using third-party Supplemental Type Certificates (STCs) in countries other than where the STC was issued.

Understanding the ADS-B Out Solutions

A review of the 7,344 available ADS-B Out solutions on the FAA’s ‘Equip ADS-B’ website reveals a significant number of Approved Model List (AML) STCs in use. AML is where an STC is completed on a ‘first of type’ aircraft, and because of similar equipage, minimal complexity and significant integration commonality, the applicant can add other types and models of aircraft to the initial STC. This makes it so much easier for completion centers and brings down solution costs dramatically. When the solution is provided by an aircraft manufacturer and its primary avionics provider, it is commonplace to have the ADS-B Out solution incorporated into a Service Bulletin (SB). (Beware that some SBs assume that your avionics are already at a particular version of software and/or hardware.) So, at first glance, it may seem that an ADS-B Out upgrade will be quick, easy and economical until you realize that in order to incorporate the SB – specifically created for ADS-B Out – you first need to upgrade your primary avionics for compatibility. This one, simple oversight can spell the difference between a lower-cost ‘ADS-B Out only’ upgrade and a much higher-cost avionics system upgrade. To reiterate: The avionics system upgrade provides the minimal version of software and/or

Table A: ADS-B in Terms of The Evolution of Aircraft Surveillance Systems

www.AVBUYER.com

MODE A/C AND S

ALTITUDE / CODE AND AIRCRAFT ADDRESS TO ATC

ELEMENTARY AND ENHANCED (ELS) AND (EHS)

FLIGHT ID / SELECT ALTITUDE / MACH # / HEADING / ROLL-TRACK ANGLES / TRACK ANGLE RATE / TAS / IAS / GS AND VS TO ATC

ADS-B OUT TO DO260 BROADCAST DATA

BROADCAST POSITION / VELOCITY AND FLIGHT ID

ADS-B OUT TO DO260A BROADCAST DATA

BROADCAST POSITION / VELOCITY AND FLT ID INCREASES NAVIGATION INTEGRITY AND ACCURACY FOR POSITION

ADS-B OUT TO DO260B BROADCAST DATA

BROADCAST POSITION / VELOCITY AND FLT ID CHANGED NAVIGATION INTEGRITY AND ACCURACY AS WELL AS AIRCRAFT PARAMETER SETTINGS

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choices will not be cost-driven but can also be decided based on the availability of product and the downtime required for its integration. As 2019 progresses, the timescales of product deemed ‘ready to ship’, and downtime, will become increasingly important. For Business Aviation, most ADS-B Out solutions fall into two major categories: 1) Those provided by the aircraft and avionics OEMs themselves, and 2) Those provided by third parties. The third party may be providing the STC and the kit, but not necessarily carrying out the aircraft work itself. Moreover, an OEM may provide its STC or SB to approved service centers or conduct the work in-house. Additionally, the primary avionics provider will separately upgrade existing equipment, or provide new. Equipment upgrades will take place in parallel with on-aircraft integration and can be a factor in the calculation of downtime. Because aircraft have individual characteristics (due to custom completions) there is always a danger that the integration instructions and kits supplied by the ADS-B providers will not completely match up to the aircraft.

Understanding ADS-B Out (Version 2) Installation

“So, at first glance, it may seem that an ADS-B Out upgrade will be quick, easy and economical until you realize that in order to incorporate the SB – specifically created for ADS-B Out – you first need to upgrade your primary avionics for compatibility.” hardware, permissible for the added ADS-B Out SB to function correctly. On the FAA’s ‘Equip ADS-B’ website is a list of equipment that pairs transponders to position sources. The position source (GPS) must in most cases meet the stringent accuracy and reliability criteria of ADS-B Out Version 2. Solutions, including AML STCs, offer different pathways for pairing transponders and GPS position sources allowing for different solution cost, convenience and standard conformity levels of equipage. Be sure to check that whoever is quoting your solution offers you choices. Sometimes these 110  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

Each ADS-B Out Version 2 installation requires an annunciation for ADS-B FAIL. This is a crew notification indicating a loss of critical broadcast information. The annunciator can be embedded in existing aircraft displays and enabled by a software update, or (as in the instance of many third-party solutions) it can be a stand-alone annunciator. Third-party solutions will include the use of a ‘happy box’ – a small out-of-the-way electronic device that selects the specific ADS-B FAIL status information from each of the aircraft’s transponders, converting it to an analogue signal to turn on the fail annunciator. There are often two annunciators, one for each crewmember, to ensure the message is noticed right away. Because the GPS position source is of a critical integrity and accuracy standard, it is common for the existing dual GPS receivers to be upgraded or exchanged. However, because of cost or availability, third-party solutions can offer a separate stand-alone and remote GPS that will meet the required specifications just for use with ADS-B Out. (Keep in mind this also requires a dedicated antenna requiring access to the upper fuselage from the inside of the cockpit or cabin.) Ultimately, it is rare for an aircraft to need a third transponder to accommodate ADS-B Out capability. Most existing transponders are upgraded, exchanged or completely replaced.

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Understanding ADS-B Out Installation Downtime

Aircraft owners tend to prefer to bundle their ADSB Out upgrade with other maintenance or scheduled inspection work, and will often add WiFi capability, now that this feature is becoming more like the home or office experience. Those operators needing to travel the oceanic or remote terrestrial tracks will also add FANS (Future Air Navigation System). Integration can range from simple to complex. To help MROs keep the integration process straightforward, operators should provide factory custom prints, as well as prints for other third-party installations since aircraft delivery. They should have readily available a current aircraft electrical load analysis (ELA) and a weight and balance report. You should further provide the MRO with a current aircraft status report showing actual installed equipment model and part numbers, providing all of this well before the aircraft input to help ensure the downtime proceeds according to plan. Given these variables, ADS-B Out downtime for a typical business aircraft can run from one week for a simple SB, to more than a month. Operators should seriously consider using these longer downtime requirements to add paintwork and carpet replacement to the work scope. Moreover, adding wood refinish, cabin outlets and optional factory airframe bulletins can make good advantage of the aircraft being ‘opened up’. Smart MRO facilities know this and will have ‘beefed-up’ their interior and paint shops to accommodate the trend.

“Given these variables, ADS-B Out downtime for a typical business aircraft can run from one week for a simple SB, to more than a month.”

Understanding the ADS-B Out Post-Installation Process

After completion of an ADS-B Out installation the integration facility will test the system. This can be more complex than it first appears. In the US, the FAA offers Public Performance Reports (PPR) for operators and avionics shops. This allows for confirmation of a fully functional in-flight performance of the ADS-B Out system. Because the FAA monitors flights in real-time, for those areas with ADS-B coverage, requests are ‘after the fact’ and can provide a useful set of data to the requestor, enabling them to diagnose possible anomalies or failures. Known as non-performing emitters (NPEs), the FAA tracks them and notifies operators to ensure compliance. A common problem exhibited in NPEs is the Flight ID transmitted by an aircraft not conforming with the call sign registered with the flight plan. For most business aircraft operators, the Flight ID and call sign are the same. This becomes an issue for commercial flights and special operations, however. Make sure the call sign is correct and then transmitted properly.

www.AVBUYER.com

Following are some examples of NPEs as recorded by airworthiness authority monitoring: • • • • •

Invalid 24-bit ICAO address (Mode S) Flight ID mismatch Missing Mode 3–A Codes Emitter category in error Transmitting airborne data while on the surface. Hardware configuration, often via strapping of transponders and other devices, is another common cause of failure. ADS-B Out systems need to be properly tested after installations simulating aircraft as airborne and receiving valid GPS signals.

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Hangar testing is not always the right way to confirm ADS-B Out operation, while requesting the PPR is an effective way of establishing in-flight serviceability with confidence. Some shops have hangar mounted GPS antennas that rebroadcast into the hangar, and others have GPS satellite simulators to test aircraft within the hangar. The FAA prioritizes in-flight ADS-B failures, including missing or erroneous squawk codes, erratic GPS position and duplicate or improper 24bit ICAO addresses. These are all issues that cause problems for Air Traffic Control trying to track the aircraft on their monitors. Europe and elsewhere are implementing similar plans for monitoring and assessing ADS-B Out performance, providing feedback to operators and to be used for future infrastructure and operations improvement.

In Summary

With less than eight months left in the US, operators and aircraft owners have a small window of opportunity to upgrade for mandated ADS-B operations. We conclude with a summary of ADS-B (In and Out) and why it is so important to the industry… 1. ADS-B enhances safety, providing ATC with a

2. 3. 4. 5. 6. 7.

view of all nearby air traffic and their intentions, irrespective of ATC’s existing radar coverage. ADS-B uses a high integrity GPS source to provide precision accuracy in it broadcast of data. Aircraft equipped with ADS-B In can also view other air traffic on compatible cockpit displays. ADS-B rebroadcasts aircraft position using different formats between users, such as 1090MHz (ES) and 978MHz (UAT). ADS-B can provide other useful data such as graphical weather, including TIS-B (and FIS-B for UAT equipped aircraft). ADS-B broadcasts its identity, position and velocity frequently (twice a second), ensuring virtual real-time operations. The use of satellite-based ADS-B will replace radar-based ATC operations throughout most of the planet.

By flight crews being operationally prepared (see last month’s AvBuyer) and by maintenance directors ensuring shops are provided with all the tools they need to do the work (such as current equipment status reports, custom prints, existing electrical load analysis, up to date weight and balance and other reports), well performing ADS-B systems can be delivered on time. But hurry! Time is running out… ❙

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JetNet April.qxp_Layout 1 19/03/2019 09:53 Page 1

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Community News.qxp_Layout 1 19/03/2019 14:07 Page 1

COMMUNITY

AVBUYER.com

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OEM Bites

Aerion Corporation and Spirit AeroSystems have entered into a collaboration agreement for the preliminary design of the AS2’s forward, pressurized fuselage. Spirit expects to immediately begin preliminary development efforts. www.aerionsupersonic.com

Daher Unveils the TBM 940 Daher has introduced the latest version of its single-engine turboprop aircraft. The TBM 940 features the integration of an auto-throttle and automatic de-icing system, along with enhancements to style and ergonomic elements inside the cabin…

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ucceeding the current TBM 930 as the flagship in Daher’s TBM family, the TBM 940 marks important steps forward in further upgrading aircraft performance, safety and comfort. Its auto-throttle is a key feature and is the first ever installed on a standard production turboprop aircraft weighing less than 12,500lbs. Fully integrated with the autopilot, the single-power lever auto-throttle automatically adjusts the aircraft’s speeds based on the pre-set flight profile, from climb-out to the landing approach. Inside the TBM 940’s cabin, Daher has incorporated ergonomic and style

upgrades that include redesigned seats, additional thermal insulation for the cabin sidewalls, a new central shelf with side storage, an additional 115V electrical outlet at the right rear seat panel, and USB ports (bringing the overall total of USB ports to six for passengers and three for the pilots). The TBM 940 retains the same range and handling qualities as the other models in the TBM 900 series. Certification of the TBM 940 by EASA and the FAA was expected to be received in time to allow deliveries to begin in late spring. More information from www.tbm.aero

The BEST AIRCRAFT FOR SALE SEARCH

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Airbus Helicopters wrapped up the recent Heli-Expo with 43 orders from worldwide customers for the whole Airbus civil product range. Twenty-one helicopter orders were received from longstanding Airbus Helicopters customer Air Medical Group Holdings, which unveiled a contract for a mix of single-engine H125s and twin-engine H135s. www.airbushelicopters.com

I B

I E

Bombardier’s Global 7500 demonstrated its ability to go the distance by completing the longestrange business jet flight in history, successfully completing an 8,152nm flight non-stop. The Global 7500 departed Singapore Changi Airport and arrived at Tucson International Airport. www.businessaircraft.bombardier.com

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OEM Bites

Eviation named Siemens as the provider of a motor option on the allelectric Alice airplane. Scheduled to debut in June, Alice will have Siemens 260kW electric motor as the first of at least two suppliers of motors. Siemens 260kW electric motors on the Alice will be powered by a 900kWh lithium-ion battery pack, driving the all-composite aircraft's three five-bladed Hartzell pusher propellers. www.eviation.co/alice

Dassault Falcon 6X Remains on Track Speaking in Paris recently, Dassault Falcon chief executive Eric Trappier said the twin-engine Falcon 6X is "totally in-line with schedule", although he would not specify a date for first flightâ&#x20AC;Ś

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arts for the initial prototype are already being made, and four Pratt & Whitney Canada PW812D engines are in testing, with more than 120 hours accumulated on a Boeing 747 flying testbed. Launched in 2018 following the cancellation of the ultra-wide-cabin Falcon 5X, the 6X is designed to take that concept forward, while increasing range to 5,500nm. Meanwhile, it is believed that Dassault continues to study the market for its next Falcon business jet program and will ramp up internal activities this year.

Falcon 900LX/2000 Certified for 100ft EFVS Ops In other news, the Falcon 900LX, Falcon 2000LXS and Falcon 2000S have all been certified by EASA and the FAA for an enhanced flight vision system (EFVS) capability that greatly improves access to airports in bad weather, providing operational credit for poor visibility approaches down to 100ft. More information from www.dassaultfalcon.com

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Kopter's SH09 light-single helicopter has arrived in Sicily, where the company hopes favorable weather conditions will enable accelerated flight testing leading to type certification in 2020. The company hopes to achieve SH09 certification in the first half of 2020 and to deliver the first aircraft before year-end. www.marenco-swisshelicopter.ch

Pilatus recently delivered a PC-24 to the Swiss government. The brand-new PC-24 replaces another business jet supplied by a North American OEM and previously used for government flights. The Swiss Air Force will operate the aircraft for the Swiss government. www.pilatus-aircraft.com www.AVBUYER.com

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AVBUYER.com Steve Berroth has been promoted to the role of chief operating officer and program manager of the Aerion AS2 Supersonic Business Jet.

Greg Collett

Scott Kalister

James Boswell has been appointed manager of charter sales in the charter and flight management department at Cutter Aviation.

Colin Miller, former VP of Flight Operations at Gulfstream, has been promoted to senior VP, Innovation, Engineering and Flight, following the retirement of Dan Nale.

Marika Brack has joined the Duncan Aviation Avionics Installations sales team at its full-service facility in Lincoln, Nebraska.

L. Don Miller has been appointed president and chief executive officer at the Bristow Group, following the retirement of Jonathan Baliff.

Joshua H. Chischilly-Keyonnie has accepted the position as manager of Duncan Aviation’s Scottsdale Satellite Avionics Shop in Arizona. He is stepping in following long-time manager Jim Davis’ retirement.

Don Milum has been appointed by Universal Avionics to the position of regional sales manager for Midwestern US.

Greg Collett has been promoted to senior VP, Manufacturing and Completions at Gulfstream, assuming some of the responsibilities previously held by Dennis Stuligross who now serves as the senior VP of Program Management, Quality and Supply Chain. Clay Lacy

has flown more than 300 aircraft types and logged more than 50,000 hours during his lifelong aviation career.

Jose Costas joined Duncan Aviation’s Aircraft Sales and Acquisitions team covering the EMEA and Asia-Pacific Regions. Scott Kalister joins Aerion as VP, Worldwide Support & Logistics. Clay Lacy is the winner of the R. A. “Bob” Hoover Trophy. Lacy’s legacy in aviation is not likely to be matched. He

Cathy Rice joined Aerion as VP, Business Management to lead contracts, pricing and cost schedule management, and to facilitate business and program management processes. Daniel Tyzack becomes managing director, Asia-Pacific at Air BP with immediate effect. Tyzack will be responsible for operations in the AsiaPacific region as well as strategy development and execution.

Cathy Rice

Daniel Tyzack

Niclas von Planta

Niclas von Planta is now VP of ExecuJet Europe. Dror Yahav will be appointed to the position of CEO, Universal Avionics. Yahav transitions to CEO as his predecessor, Paul DeHerrera, retires after 25 years of service with UA. T

Don Milum

Dror Yahav

BizAv Events 2019 Corporate Jet Investor Dubai Apr 1 Ritz Carlton, Dubai, UAE www.corporatejetinvestor.com

ABACE: Apr 16 - 18 Shanghai, China www.nbaa.org

NBAA: Maintenance Conference May 7 – 9 Fort Worth, TX, USA www.nbaa.org

Dealmakers Club at EBACE May 21 Geneva, Switzerland www.corporatejetinvestor.com

Rotor Connect Summit Jun 10 Torrey Pines, CA, USA www.accessintel.com

Aircraft Interiors Expo Apr 2 – 4 Hamburg, Germany www.aircraftinteriorsexpo.com

Rotorcraft Asia Apr 16 - 18 Changi Ex. Centre, Singapore www.experiaevents.com

AOPA Fly-IN May 10 -11 Frederick, MD< USA www.aopa.org

EBACE: Convention & Exhibition May 21 – 23 Geneva, Switzerland www.nbaa.org

NBAA: Security Conference Jun 10-11 Bellevue, WA, USA www.nbaa.org

Sun-n-Fun Int’l Fly-In & Expo Apr 2 – 7 Lakeland, FL, USA www.sun-n-fun.org

IADA Spring Meeting Apr 23 – 25 Naples, FL, USA www.iada.aero

HeliRussia May 16 -18 Moscow, Russia www.helirussia.ru

The Business of Business Aviation Jun 3 – 7 Daytona Beach, FL, USA www.mentegroup.com

Global Connected Aircraft Summit Jun 11- 13 Torrey Pines, CA, USA www.gcasummit.com

Rotorcraft Asia Apr 9 – 11 Changi Ex Centre, Singapore www.rotorcraft-asia.com

Business Aviation Safety Summit (BASS) May 2 – 3 Denver, CO, USA www.flightsafety.org

The Elite London May 17 - 18 Wycombe Air Park, Bucks, UK www.theeliteevents.com

JETNET iQ Summit Jun 4 - 5 White Plains, NY, USA www.jetnet.com/summit

Corporate Jet Investor Asia Jun 12-13 Singapore www.corporatejetinvestor.com

AERO Friedrichschafen Apr 10 - 13 Friedrichschafen, Germany www.aero-expo.com

NBAA: Business Aviation Taxes Seminar May 2 - 3 Marina del Rey, CA, USA www.nbaa.org

NBAA: Regional Forum Jun 6 White Plains, NY, USA www.nbaa.org

France Air Expo Jun 13 – 15 Lyon-Bron, France www.airexpo.aero

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EBACE: Int’l A/C Transactions Seminar May 20 Geneva, Switzerland www.nbaa.org

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YOUR GLOBAL CONNECTION Business growth requires a global perspective. It starts with the latest technologies, trends and ideas, and comes full circle with a world of connections that are key in helping you manage multiple budgets, high-performing teams and large-scale purchases. Find everything you need to make the most informed decisions all in one place: the 2019 European Business Aviation Convention & Exhibition (EBACE2019). Join us at EBACE to build relationships and explore the entire marketplace of options. And leave with the best solutions for your business. Get connected and move forward faster. Visit the EBACE website to learn more and register today.

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Products & Services April.qxp_Layout 1 21/03/2019 09:16 Page 1

PRODUCTS & SERVICES ABS Jets Expands with New G650

Comlux Cabin Completion on BBJ Max 8

The largest Czech business jet operator recently welcomed a new aircraft into its fleet based in Prague. With 11 heavy jet and ultralong-range aircraft in its hangars, ABS Jets has added another business jet designed for long haul flights, a brand new Gulfstream G650, the first under Czech registration. With a capacity of up to 19 passengers, the aircraft delivers maximum performance and luxury travel. High thrust Rolls-Royce BR725 AI-12 engines allow the Gulfstream G650 to fly more than 12 hours without refueling www.absjets.com

Further to green delivery from Boeing back in December 2018 followed by exterior paint work, Comlux has announced the arrival of the first ever cabin completion on the first worldwide BBJ Max 8 at Comlux Completion. Comlux is planning to deliver the aircraft to its US-based owner before the end of the year. The cabin interior of the first BBJ Max 8 is designed by New York based architect, Peter Marino, FAIA, the principle and founder of Peter Marino Architect, a 160 person firm www.comlux.com/completion

AMAC Aerospace Completes a G650

Dassault Acquires Tag’s European MRO Assets

The new Head of State Gulfstream G650 was delivered from the OEM at the end of 2018 to AMAC Aerospace in Basel, Switzerland. The aircraft underwent a major modification and has been re-delivered ahead of schedule. The customer, who came to Basel with an official delegation to take the aircraft, was extremely happy and expressed their gratitude for AMAC after having exceeded their expectations www.amacaerospace.com

Bombardier Adds to Service Network

Bombardier has announced the latest addition to its expanding service and support network, a dedicated Mobile Response Team (MRT) aircraft, based in Frankfurt, Germany. The Challenger 300 aircraft marked its entry-into-service by successfully completing its first mission, providing a European customer with efficient unscheduled maintenance support. The strategically located Challenger 300 aircraft will supplement the shipping of parts from Bombardier’s main European parts distribution hub at Frankfurt International Airport www.businessaircraft.bombardier.com www.AVBUYER.com

Dassault Aviation and TAG Aviation announced the acquisition of the European maintenance activities of TAG Aviation Group by Dassault. The integration of those activities will take place over the next few months, once all necessary authorizations have been received. “The acquisition of the maintenance activities of TAG AVIATION, a major MRO provider, will allow Dassault Aviation to reinforce its European service center network. With TAG Maintenance Services, we intend to develop further a network of excellence and to support TAG’s different aircraft clients with the same commitment to service quality, while expanding the share of Falcon maintenance activities controlled by the Dassault Group”, declared Eric Trappier, Chairman and CEO of Dassault Aviation www.dassault-aviation.com

Duncan Aviation’s STC Database

Duncan Aviation’s Engineering & Certification Services department announced that the company has created a searchable database of the Supplemental Type Certificates (STCs) that Duncan Aviation has developed and has available for sale. In the three weeks the database has been live, the company has received 20 requests for quotes for its listed STCs. Many of the STCs had not been previously available for sale outside of Duncan Aviation, and even though some of them have been widely used in business aviation, many owner/operators may not have realized that these STCs existed or were part of the Duncan Aviation STC database www.DuncanAviation.aero/services/engineering AVBUYER MAGAZINE  Vol 23 Issue 4 2019 

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Products & Services April.qxp_Layout 1 21/03/2019 09:16 Page 2

PRODUCTS & SERVICES Elliott Again Receives Embraer Audit

As a Phenom 100/300 and Legacy 450/500 Authorised Service Centre, Elliott Aviation has again received Authorisation on their recent Embraer factory audit. The company had previously received a 100% score on their biannual audit in 2016. The Embraer audit involves certification, training, tooling, planning, maintenance tracking, infrastructure, organisation, security, and customer care. Since their last audit, Elliott Aviation’s team in Moline, IL has made further enhancements to support Phenom 100/300 and Legacy 450/500 customers by adding their online project tracking tool, Elliott Connect www.elliottaviation.com

www.globaljetcapital.com

Jet Aviation Rebrands Hawker Pacific

GE Aviation’s On Wing Support Expands

GE Aviation’s On Wing Support Center in the Cincinnati/Northern Kentucky region is expanding to meet the growing demand for its engine repair services. As part of this expansion, the GE Aviation On Wing Support Center will move its operation into a new, 68,000-square-foot facility in Florence, KY, later this summer. It is more than twice the size of the current facility located in Hebron, KY. On Wing Support, which has been in service near CVG since 1997, provides 24/7 full-service repair solutions for GE and CFM commercial engines, including the GEnx, GE90, CFM56 and CFM LEAP. It also services smaller jet engines, including the CF34 and GE Honda HF120. On Wing Support will also support the world’s largest commercial engine, the GE9X, when it enters service www.geaviation.com

Jet Aviation has completed the rebranding of its six Hawker Pacific FBOs in Australia. The Australian FBO facilities are located in Brisbane (2), Cairns, Darwin, Perth and Sydney. All six FBOs in Australia operate under the Jet Aviation logo. Jet Aviation expanded its customer offerings in the Asia-Pacific region with the acquisition of Hawker Pacific in May 2018 www.jetaviation.com

King Aerospace Completes Work on 29 BBJ’s

Global Jet Capital Expands in Hong Kong

A global leader in financial solutions for business aircraft, Global Jet Capital has announced that it is expanding its presence in Hong Kong. The new office will help Global Jet Capital meet the growing demand for business aviation financing solutions in the region and further enhance Global Jet Capital’s growth strategies across Asia Pacific. Global Jet Capital estimates that over the next 10 years, as many as 581 new mid to heavy business jets with a combined estimated value of US $20.9 billion could be delivered across Asia Pacific. Over the same period, the company expects to see over 2,200 mid to heavy used aircraft transactions valued at over US $13 billion. Between 2019 and 2028, the value of new deliveries to the Asia Pacific region will grow 10.9% at an annualized rate, the fastest in the world 120  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

King Aerospace Commercial Corporation was on track to complete work on 20 Boeing aircraft in 2018. Instead, it completed 29. Scope included routine maintenance, avionics, paint and interior modifications for Boeing Business Jets (BBJs), Boeing 737s and Boeing 757s. “Significant investments in tooling, equipment, facilities and training have positioned us to serve Boeing aircraft extremely efficiently and effectively,” says Jarid King, president of King Aerospace Companies. “We’re earning a reputation for highquality, value-priced support.” Boeing acknowledged that status by nominating King Aerospace as a Supplier of the Year. “One of our cornerstone principles is quality in everything, no excuses,” says King. “Our work reflects that.” www.kingaerospace.com

www.AVBUYER.com


Products & Services April.qxp_Layout 1 21/03/2019 09:17 Page 3

PRODUCTS & SERVICES Lone Sky Aero Advisors Launched

Lone Sky Aero Advisors was recently formed by three industry veterans to provide worldwide aircraft sales and purchasing services, aerospace and defense contract consulting, aircraft management and operations consulting, and aviation business financial management programs. Founded by Phil Jordan, Chad Collins, and Herb Knight, the company has decades of experience in private aviation and is well-positioned to navigate the nuances of the industry for each of their clients, exceeding expectations and service standards. Together, these three industry experts aim to make Lone Sky Aero Advisors a leader in business aircraft sales and consulting, providing knowledgeable, personable and efficient services to their clients worldwide. More information from: herb@lonesky.aero - +1 203 215 5100

SR Technics Malta Continues to Expand

SR Technics, a world leading MRO service provider, announced recently that it has signed a contract with Malta Enterprise and Malta Industrial Parks Limited to expand its aircraft maintenance facility in Malta, following last yearâ&#x20AC;&#x2122;s Memorandum of Understanding (MoU). The agreement includes the construction of a modern multi-bay hangar facility for narrow- and wide-body aircraft at Malta International Airport. With a size of 30,000 sqm, including workshop space, the new infrastructure will enable SR Technics to increase its capacity for heavy maintenance, C-checks and cabin modifications to up to six narrow-body aircraft at a time

Helmet-Mounted Display or SkyLens Head-Wearable Display, all supported by high-quality Enhanced Vision System Sensors, pilots can overcome harsh conditions while safely completing their mission," said Dror Yahav." The overall solution offers emergency medical services operation, law enforcement, and search and rescue operators a new level of operability while enhancing the safety of the crew and passengers," he added www.uasc.com

VREF Partners with AIC Title Service

VREF Aircraft Reference Value & Appraisal Services a leading provider of aircraft valuations, celebrates its 25th Anniversary by announcing a strategic partnership with AIC Title Service (AIC).VREF Verified Reports provide buyers and sellers of aircrafts with a comprehensive report that features critical information on the value of a specific aircraft by equipment and serial number. Now, due to its partnership with AIC, these reports will also include airframe title, including 337â&#x20AC;&#x2122;s, along with engine and propeller searches to produce one report with VREF www.vref.com

www.srtechnics.com

Universal Avionics Unveils Flight Deck

Universal Avionics (UA), an Elbit Systems Company, recently unveiled a new, complete flight deck specifically designed to support helicopter mission execution at night and during challenging weather conditions. "By combining the latest, state-of-the-art InSight Display System solution and revolutionary Heli-ClearVision SkyVis www.AVBUYER.com

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Sky Aviation March.qxp_Empyrean 20/03/2019 11:00 Page 1

S H O W C A S E

2005 Bombardier Learjet 60 Serial Number: Registration: Airframe TT: Landings:

295 N314CM 7390.6 5254

â&#x20AC;˘ For Immediate Sale Engines On ESP Gold Left PW305A S/N PCE CA0443 Total Time 7116.3 Total Cycles 5040 Right PW305A S/N PCE CA0449 Total Time 6980.3 Total Cycles 4923 APU T-20G-10C3A Total Time 2493 Total Events 5065 Avionics & Connectivity Rockwell Collins/Universal Solution CMD Flight Solutions Integrated WAAS/LPV Departure UL-801 Datalink ADS-B Interior & Entertainment Complete New Interior 2017 All new Stone Leather seating with new webbing, wool pattern carpet, Alcantara sidewalls, ExceLeather headliner, Black Nickel plating, Ebony veneer cabinetry, Corian counters, and grosspoint. 7 Passenger Interior, including 2 Seat Divan + 5 Club seats + Non-Belted Lav . Galley with 120V outlet for Nespresso Pod Coffeemaker Exterior Matterhorn White with Blue and Gray Striping

Sky Aviation Holdings LLC

Pompano Beach Airport, 751 NE 10th Street, Pompano Beach Florida, 33060, United States 122  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

Tel: +1 (754) 800-6310 E-mail: sales@skyaviationholdings.com www.skyaviationholdings.com

www.AVBUYER.com


Jetsense Aviation 2005 Hawker 800XP March.qxp_Empyrean 20/03/2019 14:56 Page 1

S H O W C A S E

Price: $2,295,000 2005 Hawker 800XP Serial Number: 258714 Airframe TT: 7376.4 Landings: 5347  Engines and APU on MSP Gold  Gear Overhauled 2016  G Inspection (48-mo.) Completed 2017  Collins Pro Line 21  Airshow 400  Flight Data Recorder Airframe Maintenance Tracking - Enrolled on CAMP Engines Left engine Right engine Description: Honeywell Honeywell TFE731-5BR-1H TFE731-5BR-1H S/N: P-107422 P-107862 THSN: 7167.2 Hours 7255.0 Hours TCSN: 4981 Cycles 4127 Cycles TSO: 2988.1 Hours 3813.3 Hours TSHS: 857.7 Hours 1693.9 Hours Program: MSP Gold MSP Gold APU Description: Honeywell GTCP36-150(W) S/N: P-825 TCSN: 6262 Hours Program: MSP Gold Avionics COLLINS PROLINE 21 Autopilot / Flight Director 2 Collins FGC 3000 Air Data Computers 2 Collins ADC 3000 Attitude and Heading Reference 2 Collins AHC 3000 Cockpit Voice Recorder 1 Universal 120 Distance Measuring Equipment 2 Collins

Flight Management System 2 Collins FMS-6000 Global Positioning System 2 Collins GPS 4000A Global Proximity Warning System 1 Honeywell Mark V Transponder 2 Collins TDR-94D Mode S High Frequency Radio 2 Collins HF 9000 Weather Radar 1 Collins TWR-850 Radar Altimeter 1 Collins ALT 4000 Communication Radio 2 Collins Navigation Radio 2 Collins Traffic Collision Avoidance System 1 Collins 4000 TCAS II Emergency Locator Transmitter 1 Artex C406-2 Flight Data Recorder 1 Honeywell FDR General Specifications Seating 2/8 Baggage (CuFt Ext/Int) 0/48 Cabin Height (Ft) 5’9” Cabin Width (Ft) 6’0” Cabin Volume (CuFt) 736 Seats Full Range (NM) 2,408 Balance Field Length (Ft) 5,499 Landing Distance (Ft) 2,905 Average Block Speed (Kts) 419 Normal Cruise Speed (Kts) 419 Long Range Cruise Speed (Kts) 392 Fuel Usage (Gal/Hr) 281 Interior Number of Passengers 8 Galley Location Forward Lavatory Location Aft Exterior Base Paint Color Matterhorn White Stripe Colors Red, Black and Silver

Jet Sense Aviation, LLC Contact: Brett Forrester Contact: Pat Mitchell 550 N. Rand Road, Lake Zurich, Illinois 60047 www.AVBUYER.com

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

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Jetsense Aviation G200 April.qxp_Empyrean 19/03/2019 15:15 Page 1

S H O W C A S E

Call for Pricing 2000 Gulfstream G200 Serial Number: 5 Registration: N505GA Airframe TT: 6855 Landings: 4129  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 • Collins TTR-920 TCAS 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 Average Block Speed (Kts) 448 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 550 N. Rand Road, Lake Zurich, Illinois 60047

124  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

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


Jetsense Aviation Hawker 400XP April.qxp_Empyrean 19/03/2019 15:16 Page 1

S H O W C A S E

Call for Pricing 2005 Hawker 400XP Serial Number: RK-429 Airframe TT: 1944.9 Landings: 1821  Fresh Hot Section (158 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: 1944.9 Hours 1944.9 Hours TCSN: 1821 Cycles 1821 Cycles TSHS: 158.6 Hours 158.6 Hours TBO: 1655.1 Hours 1655.1 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 Long Range Cruise Speed (Kts) 400 Fuel Usage (Gal/Hr) 214 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

Jet Sense Aviation, LLC Contact: Brett Forrester Contact: Pat Mitchell 550 N. Rand Road, Lake Zurich, Illinois 60047 www.AVBUYER.com

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

AVBUYER MAGAZINE  Vol 23 Issue 4 2019 

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Mesotis March.qxp 28/03/2019 14:21 Page 1

S H O W C A S E

1984 Cessna Citation Super S-II (Sierra Conversion) Serial Number: Registration: Airframe TT: Landings:

550-0011 T7-IGO 1577.2 724

• Engines on TAP Elite • Only Super S-II with Glass cockpit! • Williams Engines • Sierra Industries Sky Step Cabin Door Step • Sierra Industries Pedestal Extension • Unique Glass cockpit technology with text messaging, E-mails, paperless cockpit and iPAD wireless access • RVSM approved • ADS-B out • USB charging ports • Pax 8 + 1 (belted toilet)

Engines Engine #2 Engine #1 Description Williams FJ44-3A Williams FJ44-3A Avionics / Electrics • 3 tube EFIS and 2 x Garmin touch screen MFDs • Universal Avionics EFI-890R EFIS System and Vision 1 Synthetic Vision System • Dual Thommen AC-32 Air Data Computer systems • RVSM approved • Bendix GKP-860 EGPWS • 406 Mhz ELT • 2 Garmin GTX3000 transponders featuring ADS-B out • Dual Garmin GTN-750 GPS/COMM/NAV systems with dual GA-35 GPS antennas • GMA-35 Audio Panel System • GDL-69 SiriusXM weather data • Fairchild S603-1000-00 Flight Data Recorder • Boom Beam Landing and Taxi Light systems

Entrance area • RH side facing double seat • LH Storage Cabinet Forward cabin • RH side (zone 1A): One (1) pull–out table and One (1), aft-facing single executive seat • LH side (zone 1B): One (1) pull-out table and One (1), aft-facing single executive seat Mid cabin • RH side (zone 2A): One (1), forward-facing single executive seat • LH side (zone 2B): One (1), forward-facing single executive seat Aft cabin • RH side (Zone 3A): One (1), forward-facing single executive seat • LH side (Zone 3B): One (1), forward-facing single executive seat

2006 Learjet 60 Serial Number: Registration: Airframe TT: Landings:

60-302 ES-PVP 5711 3288

• EU-OPS 1 Compliant • ESP Gold • On CAMP • Airshow 400 • 15.1“ &amp; 10,4“ TV Monitors • DVD &amp; CD Player • Microwave oven • Irridium Phone System • Fresh 12 years inspection

Engines Eight (7+1) seats: • Fwd 2 place seating • RH 3 place divan • 2 place club seating • 1 belted toilet seat Maintenance Aircraft on CAMP Avionics • Rockwell Collins Pro-Line 4 EFIS including: • FMS Universal UNS-1 E • GPS Universal UNS-1 E • NAV 2 Rockwell Collins VIR-432 with FM Immunity • DME Rockwell CoIlins DME-442 • ADF Rockwell CoIlins ADF-462 • AFCS APG FCC-85OA

Mesotis Jets Thomas Thums Fleischmarkt 7/3 1010 Vienna Austria

126  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

• Autopilot APG FCC-85OA • VHF COM Rockwell Collins VHF-422C • HF COM Honeywell KTR-953 • SATCOM Iridium ICS-200 • SELCAL JETCAll-5 • RADAR RTA-854 • RADAR ALT Rockwell Collins ALT-4000 • XPNDR Rockwell Collins TDR-940 Mode S • EGWPS Honeywell Mark V • TCAS II Rockwell Colllns TTR-4000 with Change 7.1 • CVR Universal CVR-120 • FDR L3 Communications FA-2100 • Lightning Sensor L3 Communications WX-1000E • ELT Artex C406-2 with NAV interface Price: Make Offer

Mob: +43-67-6590-0082 Tel: +43-1-533-757216 E-mail: tthums@mesotisjets.com www.mesotisjets.com

www.AVBUYER.com


Jet HQ March.qxp_Empyrean 20/03/2019 11:01 Page 1

S H O W C A S E

2014 Dassault Falcon Serial Number: Registration: Airframe TT: Landings:

7X-225 TC-SZA 1296 582

 Program Enrolled –Engines / APU  Interior and Exterior in Pristine Condition  Next Gen -EASyII with CPDLC, ADS-B  Out, RAAS, SVS, ADM  Lightening sensor system  Swift Broadband 64 internet  Fourteen Passenger Configuration  One Owner Since New Programs PW307A Left Eng. Total Hours: 1296 Total Cycles: 582 Program: ESP

Right Eng. 1296 582

APU Model: GTCP36-150 (FN) Total Hours: 1272 Program: Honeywell MSP Avionics Equipped with Falcon EASyII Flight Deck Dual Honeywell Modular Avionics Unit (MAU) Single Honeywell Electronic Display & Management System: Four (4) 14.1” LCD display units Two (2) multifunction keyboards One (1) revisionary controller Two (2) cursor control devices

Two (2) checklist controllers Dual Honeywell Automatic flight Control System Single Honeywell Autothrottle System Triple Honeywell Crew Alerting & Aural Warning System Dual Honeywell Interactive Electronic Checklist (ECL) Triple Honeywell VHF communications system Dual Rockwell Collins HF communications system Triple Honeywell Flight deck audio system w/ radio, intercom & SELCAL functions Triple Telex Flight deck headset Single Honeywell Emergency Locator Transmitter (ELT) Tri-frequency Interior Fourteen (14) Interior Configuration Forward galley Forward & aft lavatory Crew closet Forward Cabin: Four single seats Mid Cabin: Four-place conference grouping opposite a credenza Aft Cabin: Sleeping Area with dual three-place divans

Jet HQ Rebecca Johnson Vice President of Sales - Europe

www.AVBUYER.com

Mob: +41 78 924 1420 Email: sales@jethq.com

AVBUYER MAGAZINE  Vol 23 Issue 4 2019 

127


AeroBuyNow April.qxp 21/03/2019 09:12 Page 1

S H O W C A S E

2013 Embraer Phenom 100 Serial Number: Registration: Airframe TT: Landings:

50000293 F-HFFD 962.35 882

• ENGINES ON ESP GOLD • AIRFRAME ON EEC • ALWAYS HANGARED • NO DAMAGE HISTORY • ALL LOGS SINCE NEW Engines Pratt & Whitney Canada PW617F-E – ESP Gold #1 PCE-LC0555 #2 PCE-LC0553

Avionics & Connectivity Garmin Prodigy COM/NAV/GPS Garmin G1000 XPDR Garmin GTX-33D Mode S EHS w/ Diversity TCAS 1 Garmin GTS-850 RADAR Garmin GWX-68 Weather Radar DME Honeywell KN63 CVDR Garmin FA2100 GACVDR ELT Kannad 406AF w/ NAV Interface

Exterior Overall White w/ Dark Blue and Light Grey Design New Paint 2018 Price: $2,850,000

Interior & Entertainment Corporate 5 Pax Citrine Design Sheepskin-covered Crew Seats Side Facing Seat Lavatory w/ Lavatory & Rigid Door - 9/10

2000 Cessna Citation Jet Serial Number: Registration: Airframe TT: Landings:

525-0359 F-GTRY 4,054 3,579

• ENGINES ON TAP ELITE • TWO OWNERS SINCE NEW • SB 525-36-04 PRECOOLER IMPROVEMENT C/W • DOC 10 DUE IN JULY 2019 Engines Williams Rolls JF44-1A – On TAP ELITE #1 s/n 1729 #2 s/n 1679 Both at 4,031 TSN – 3,562 CSN

Avionics & Connectivity 2 Tube EFIS Honeywell SPZ-5000 COM Dual King KY 196B – 8.33 Khz NAV Dual King KN 53 – FM Immunity ADF King KR 87 DME Dual King KDM 706 XPDR Dual Garmin GTX 330D – Mode S AP Honeywell SPZ-5000 Digital Stormscope BFGoodrich WX-1000+ Radalt King KRA-405 FMS Global GNS-XLS w/ P/RNAV GPS GPS King KLN90B CVR Fairchild A200S ELT Artex C406

Exterior Overall Snow White w/ Royal Blue and Green Stripes Price: Make Offer

AeroBuyNow SARL Le Park Palace, AAACS, 25 Avenue de la Costa, MC-98000, Monaco

128  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

Interior & Entertainment 6 Pax Executive Interior Dual Fwd Facing Seats Dual Aft Facing Seats Single Side Facing Seat Belted Lavatory Seat Fwd LH Deluxe Refreshment Center LH & RH Executive Tables Aft Divider w/ Mirror Removable Aft RH Curtain Indirect Lighting Dropped Aisle Lighting Freon Air Conditioning

Tel: +33 (0)784 265 143 E-mail: mathieu.pezin@aerobuynow.com www.aerobuynow.com

www.AVBUYER.com


Total Jet Solutions April.qxp_Empyrean 09/04/2019 11:59 Page 1

S H O W C A S E

Aggressively Priced - Motivated to Sell 1997 Falcon 50EX Serial Number: Registration: Airframe TT: Landings:

265 N868DB 7907 5229

Interior INTERIOR BY DAVIATION AIRCRAFT ON 04/2010

Engines TFE731-40-1C / APU: GTC36-100(A)

Configuration/PAX: Executive 9 passenger fire blocked interior General: Excellent Condition Seating: Forward 4-place Garrett haze (beige) leather club, aft RS 3-place divan upholstered in Garrett Chatham acorn (light brown) leather opposite dual Garrett haze (beige) leather individual seats, retractable floor mounted jump seat Headliner: Tapis neutral ultra-leather headliner Sidewalls: Garrett Chatham acorn lower side panels Carpet: 100% wool Treasure Chest chamois colored carpeting

Avionics

Exterior

Total Jet Solutions is proud to present this beautiful 9 passenger Falcon 50EX for immediate sale with spotless history, ADSB-Out, impressive pedigree, great paint and beautiful recent interior. Engines enrolled on MSP Gold and Avionics enrolled on Collins CASP program

AVIONICS ENROLLED ON COLLINS CASP

Avionics Package: Collins EFIS-4000 4-tube/Pro Line 4 FMS: Dual Collins FMC-6100 w/6.1 software IRS: Dual Honeywell LASEREF IV Autopilot/Flight Director: Collins APS-4000 EFIS: Collins EFIS-4000 4-tube AHRS: Dual Collins AHS-85 Communication Radios: Trippel Collins VHF-422A w/8.33 kHz spacing HF Communication Radio: Dual King KHF9000 w/Coltech dual-channel SELCAL Navigation Radios: Dual Collins VIR-432 w/FM immunity TAWS: Allied Signal Mark V EGPWS w/Windshear TCAS: Collins TCAS-II w/change 7

BY KING AEROSPACE ON 07/2010

Colors: Matterhorn white w/ocean blue & medium silver General: Exterior is in excellent condition Additional Equipment ADSB-Out, USB Data Loader, Artex 406 mHz ELT, dual Bose headset plugs, monorail sun visors, retractable floor mounted jump seat with third EROS quick-donning crew oxygen mask, Pulselight system, dual wingtip navigation lights, and DeVore logo light

Total Jet Solutions Inc. Dr. Sharon Pins Fort Worth, Texas 76137 USA

www.AVBUYER.com

Tel: +1 (214) 783-1075 E-mail: spins@totaljetsolutions.com

AVBUYER MAGAZINE  Vol 23 Issue 4 2019 

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Rheinland Air Services April.qxp 21/03/2019 12:46 Page 1

S H O W C A S E

2018 Quest KODIAK 100 Series II Serial Number: Airframe TT:

248 120

• The most modern, rugged and reliable airplane in its class • Versatile – a true Multimission Aircraft • Superior STOL performance and high useful load • Ability to land and take off from unimproved surfaces within less than 300m • Built tough and safe for extreme missions • Comfort, capacity and economy for business and personal use. • Single pilot operation

Airframe & Engines Engine Specs: P&W PT6A-34, Takeoff Power: 750 hp Hartzell4 Blade Propeller, constant speed, feathering, reversible Avionics & Connectivity Garmin G1000® NXi Suite Garmin GWX-70 Weather Radar Garmin GTX 345R L3 ESI-500 Standby Instrument Safe Flight ARINC 429 GTS 800 TAS / WX-500 Stormscope Package GDL 69A-XM Data Link with Audio Infotainment Interior & Entertainment 2 + 8 Tundra Interior Package, Warm Brown 10-Place Oxygen Upgrade (increases the KODIAK‘s endurance and operation at higher altitudes) Air Conditioning

Exterior KODIAK 2018 Paint Scheme: Racing Green / Light Grey TKS Ice Protection with Tank in External Baggage Compartment 29“ Tire Combo (Increases gross landing weight to 7,255 lbs / 3.290 kg) Remarks Gravel / Mud Deflector Kit Aircraft is based at RAS Headquarter in Mönchengladbach Germany European Demonstrator FAA-Registered Compliant to RA CAA requirements with 3rd static port installed Available for Immediate Delivery Price: $2,495,000 Excl. VAT Price Reduced

2017 Quest KODIAK 100 Airframe TT:

400

• The most modern, rugged and reliable airplane in its class • Versatile – a true Multimission Aircraft • Superior STOL performance and high useful load • Ability to land and take off from unimproved surfaces within less than 300m • Built tough and safe for extreme missions • Comfort, capacity and economy for business and personal use. • Single pilot operation

Engines Engine Specs: P&W PT6A-34, Takeoff Power: 750 hp Hartzell 4 Blade Propeller, constant speed, feathering, reversible Avionics & Connectivity Garmin G1000 Integrated Avionics Suite Garmin Synthetic Vision GTS800 TAS/WX 500 Stormscope Package GWX-68 Weather Radar Chartview Enable Card Garmin GRA55 Radar Altimeter DME: KN63 Bendix/King Interior & Entertainment 2 + 8 Timberline Interior Package, Warm Brown 10-Place Oxygen Upgrade (increases the KODIAK‘s endurance and operation at higher altitudes) Air Conditioning

Rheinland Air Service GmbH Flughafenstraße 31 41066 Mönchengladbach Germany

130  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

Exterior KODIAK 2017 Paint Scheme: Top Fuselage: Red, Bottom Fuselage: White with Black Stripes TKS Ice Protection with Tank in External Baggage Compartment 29“ Tire Combo (Increases gross landing weight to 7,255 lbs / 3.290 kg) Remarks EASA Certified Aircraft Standby Battery Upgrade Aircraft is based at RAS Headquarter in Mönchengladbach Germany Available for Immediate Delivery Price: $2,250,000 Excl. VAT Price Reduced

Tobias Temme / Sales Director Mobile: +49 178 2550 248 E-mail: t.temme@questaircraft.eu www.questaircraft.eu / www.ras.de

Meet us at AERO April 10-13, 2019 Static Display 12

www.AVBUYER.com


P131-135.qxp 20/03/2019 09:41 Page 1

Bombardier Global 5500

Milcham Aviation Price:

$12,900,000

Year:

2020

S/N:

TBD

Reg:

N-TBD

TTAF:

-

Location: USA

Bombardier Challenger 650

Milcham Aviation Price:

$8,900,000

Year:

2019

S/N:

61XX

Reg:

N-TBD

TTAF:

00

Location: USA

Bombardier Challenger 350

Milcham Aviation Price:

$3,990,000

Year:

2019

S/N:

207XX

Reg:

TBD

TTAF:

00

Location: USA

Cessna Citation XLS+

MCB Aviation, LLC Price:

$11,295,000

Year:

2018

S/N:

560-6258

Reg:

N935SF

TTAF:

-

Location: USA

Cessna Citation Latitude

Franck Testard

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: +1 (305) 452 62610 E-mail: sales@milcham.lu 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: sales@milcham.lu BRAND NEW BOMBARDIER CHALLENGER 350 DELIVERY MIDDLE 2019. FRACTIONNAL OWNERSHIP 1/6. 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 (817) 915 3653 E-mail: matt@mcbaviationllc.com Well-equipped 2018 Citation XLS+ - $11,295,000 USD Nine passenger configuration with two place divan Rockwell Collins Pro Line 21 Avionics Suite - WAAS/LPV/ADSB-Out - FDR - HF with SELCAL - ADF - Interactive Textual weather & flight services (datalink) GOGO Biz ATG 4000 WIFI Enrolled in: • Power Advantage Plus • Aux Advantage • ProParts and ProTech Manufacturer Warranties

Tel: +33 (0) 686 558 626 E-mail: jean-philippe.belen@gl-events.com

Price:

$13,900,000 Excl. VAT Standard equipment:– Garmin G5000 Integrated Avionics Suite –

Year:

2017

S/N:

0075

Reg:

F-HSAO

TTAF:

536

Location: France

www.AVBUYER.com

M A R K E Tel: +1 (305) 452 62610 T E-mail: sales@milcham.lu P L BRAND NEW BOMBARDIER GLOBAL 5500 DELIVERY 2020 A FRACTIONNAL OWNERSHIP 1/4 AT 12.900.000,00 USD. C FULL OPERATION INCLUDED. UNDER PUBLIC TRANSPORTATION COMPANY. ANNUAL OPERATION FEES 1.300.000,00 USD PER E

Garmin G5000 Radios include dual FMS, dual Comm, dual Nav, dual DME, dual Mode S diversity transponders with ADS-B out capability – Synthetic Vision Technology – Garmin GWX 70 Weather Radar. Options installed: – Single ADF – Flight Data Recorder – HF Communication – Link 2000+ (CPDLCD) – Extended Range Oxygen System – Quick Access Recorder (QAR). Cabin: – Cabin seating for eight passengers (center club configuration and RH forward side facing two-place couch) – Non-belted flushing toilet and a belted LH side facing seat in the lav. Interior: Overall light grey interior style. Cabinetry is figured Honduran mahogany gloss wood veneer with satin smoked nickel hardware

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M A R K E T P L A C E

Cessna Citation CJ1

Tel: +1 (406) 252 6937 E-mail: brent@flybfs.com

Brent Larson Price:

$999,000 Plus Tax

Year:

2002

S/N:

525-0490

Reg:

N907YB

TTAF:

5718

Beautiful well maintained CJ1. Fresh paint by Cessna Factory paint shop in May 2014. Interior refurbushied at Mesa Service Center May 2016. ADSB Compliant. Engines have over 1200 hours remaining until overhaul. Aircraft will be sold with a fresh Doc 10 and all inspections current. Must see to appreciate this aircraft. Has been used as Part 91 Executive owned aircraft

Location: USA

Price:

Make Offer

Year:

2006

S/N:

680-0071

Reg:

-

TTAF:

4521.4

Location: Canada

Bombardier Learjet 75

Tel: +1 (506) 648 3535 E-mail: hall.david@jdirving.com

David Hall

Cessna Citation Sovereign

FOR IMMEDIATE SALE. Engines: Pratt & Whitney Cessna Power Advantage +. Fresh Overhaul by Pratt & Whitney Engine Services. APU: Honeywell International Inc. APU on Cessna Aux-advantage. Avionics: HONEYWELL EPIC INTEGRATED AVIONICS SYSTEM: • Four Modular Avionics Unit – MAU – two MAR950/ two MAR951 • Four Flat Panel Liquid Crystal Display Units – DU1080 – two PFD, one MFD, one EICAS • Dual Air Data Modules (ADM) – Honeywell AZ-200. Interior: • Miltonduff color leather seats • Beige color carpet • White Rift Oak cabinetry • Milkweed color headliner. Exterior: • Overall white fuselage with two Aristo Blue stripes • Desert sand lower fuselage and wings. • Devore tail recognition lights • RVSM

Tel: +44 (0)782 543 7688 E-mail: veliborm@t-com.me

Velibor Mrdak Price:

$6,500,000 No VAT

Year:

2015

S/N:

45-494

Reg:

9H-DDJ

TTAF:

1805

Motivated seller to acomplish deal; airplane on EASA AOC fully compliant with all regulation, still on warranty, great conditions, make an offer

Location: Malta

BAe Avro RJ70

Price:

$4,500,000

Year:

1994

S/N:

E1258

Reg:

LZ-TIM

TTAF:

23368

Location: Bulgaria

Gulfstream IV

Tel: +359 884 846 822 E-mail: charter@air.bg

Aircraft Lease

Joseph Sabin Price:

Make Offer

Year:

1989

S/N:

1092

Reg:

N13SA

TTAF:

7036.8

Date of VIP Cabin Modification – 31st October 2008. Passengers capacity – 26 VIP. Total flight cycles – 16104. Engines – 4 x HONEYWELL Textron Lycoming ALF507 - 1F. Cruise speed – 430 kts (800km/h). Cruise altitude – 31000 ft.(9450 m.). Maximum flight duration – 5hrs. Maximum stock of fuel –10300kg. Maximum take-off weight –43100 kg. Extra fuel tank for extended range operations Price Reduced

Tel: +1 (607) 846-5569 E-mail: prepusa@hotmail.com Very nice, low time Gulfstream IV available for immediate sale.

Location: USA

132  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

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Bombardier Learjet 36A

Leonard Price: Year: S/N:

M A R K E Tel: +1 (806) 662 5823 T Hudson Drilling Email: ronfernuik@hotmail.com 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

Location: USA

BELL 412EMS

Competitively priced at US $1,375,000, may take trade on a King Air or a helicopter Would consider trade for KingAir 200/300

Leonard Hudson Drilling Price:

Offer

Year:

1981

S/N:

33017

Reg:

N554AL

TTAF:

15265

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

Full EMS Medical 4 patient and 4 attendant interior. Recent ‘no expense spared’ airframe refurbishment at Acro Helipro within the last 100 hours. Both engines are fresh Pratt and Whitney overhauled. Immediate delivery, Meticulous records. Current with medical interior and 13 passenger utility interior are included, aircraft is ‘turn-key’ will provide Fresh annual /Export C of A

Location: USA

BELL 212 (Five Available)

Leonard Hudson Drilling Price:

Please Call

Year:

1991-1996

S/N:

Call for details

Reg:

Call for details

TTAF:

Call for details

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

Five, Late Model, Bell 212s In 'Off Shore’. Available for immediate use. Asking $3.1M to $3.6M USD. Serial numbers: 35034, 35048, 35060, 35088 and 35096

Location: USA

Cessna Citation CJ1+

JETVIP, LLC Price:

Make Offer

Year:

2007

S/N:

525-0652

Reg:

RA-67705

TTAF:

3216.3

Location: Russian Federation

Honda HondaJet

Tomas Rendla Price:

Please Call

Year:

2018

S/N:

90

Reg:

EASA

TTAF:

90

Tel: +371 67 62 13 71, +371 29 14 56 72 E-mail: do@skyart.lv ONE OWNER SINCE NEW, excellent condition, always hangared, always maintened by Atlas Air Service AG (Germany), no damage history, external front and rear baggage compartments, toilet, air conditioned cabin, Aircell Satelite Phone ST-3100, Sigle pilot certified, RVSM capable. Airframe: Total Landing Since New: 2.741 landings. Maintenance Tracking: Cescom. Engines: Manufacturer: Williams. Model: FJ44-1AP. Engines not covered by program. Avionics: Collins Pro Line 21 Suite with 3 Screen EFIS. Collins Pro Line 21 Flight Guidance Systems (AP&FD). Collins Flight Management System FMS-3000. Garmin GPS System GPS 500. Interior: Number of Seats 6. Galley Yes. Lavatory Yes. Exterior: Snow White, with grey, blue and red stripe

Tel: +420 602 284 272 E-mail: tomas@gradient.cc 2018 Honda Jet, EASA registered, under AOC, like a new, only 90 hrs, excelent condition, located in Prague

Location: Czech Republic

www.AVBUYER.com

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M A R K E T P L A C E

Bell 412 EP

Tel: +1 (916) 214-0513 E-mail: wesley@trucksite.com

Wesley Stone Price:

$1,995,000

Year:

2004

S/N:

36329

Reg:

N8346A

TTAF:

3,195

Location: USA

PT6T-3DF Engines. Two Crew IFR. Dual Audio Panels. Dual Nav/Comm. Wire Strike Protection System. Cargo Hook. SX-16 Nightsun Searchlight. External Hoist Provisions. LifePort Seating & MedDeck Plate. MAJOR COMPONENT - SERVICE LIFE - TIME REMAINING Engine 1 - 4000 - 188.5. Engine 2 - 4000 - 86.5 Combining Gearbox - 2500 - 747.1. Transmission - 3200 - 5. MR Hub - 2500 - 1802.7. Mast - 10000 - 6805. Mast Assy - 5000 - 1805. Spindle & Damper Bearing Assy - 10000 - 6805. Swashplate Assy - 2500 - 1802.7

Tel: +1 (289) 400 4725 E-mail: pyb@aeroasset.com

Aero Asset

Airbus/Eurocopter AS 365N-1

Price:

$695,000

Year:

1988

S/N:

6256

Reg:

F-GVAR

TTAF:

4112

Two Private Owners Since New Single Pilot IFR EADI / EHSI 5 Pax vvip

Location: France

Bell 427

Price:

$1,250,000

Year:

2001

S/N:

56024

Reg:

OK-TCH

TTAF:

2922

Gregory SARTORIUS

Price Reduced

Tel: +33 (0) 614 900 456 E-mail: gregsartorius@gmail.com

€1,750,000 Excl. VAT AS350 B3+ double FADEC, Auto Pilot, Air conditionning, GTX

Year:

2008

S/N:

4565

Reg:

OO-AMP

TTAF:

825

Jayrow Helicopters Price:

Please Call

Year:

1978

S/N:

30900

Reg:

VH-JJY

TTAF:

11,437

Location: Australia

134  Vol 23 Issue 4 2019  AVBUYER MAGAZINE

Reliable helicopter certified as Single Pilot, VFR Day and Night in CAT A / 1st Performance Class. Two Turboshaft Engines PW 207D (S/N PCE-BF0055 and S/N PCE-BF0056). MTOW 2971 kg (6550 lbs). Search Light SX-5. Cargo Hook. COM/NAV/GPS Garmin 430 and 530, Area Navigation Garmin 795, S Mode Transponder, Radio-altimeter, BOSE A20 Headsets, Dual controls

Price:

Location: Belgium

Bell 212

Tel: +420 601 167 983 E-mail: vratislav.elias@asr.agel.cz

Vratislav Elias

Location: Czech Republic

Airbus/Eurocopter AS 350B-3

MGB ASB c/w

330 transponder, GPS Receiver GN 430 Garmin, Gyro directionnal KG 102A, HSI KI 525A indicator, Transreceiver VOR/VHF KX 165 A Honeywell, Radio alti indicator, Giro vertical GV 76-2, altimeter, vertical speed indicator, alticoder, anemometer knot, transreceiver radio altimeter, ELT Kannad 406, Transponder mode S, cabin heating and demisting, sliding door L/H, standard interior grey/black, cabin configuration 2+4 seats, dual control, 6 Bose headsets, ground handling wheels, set of covers, electric handling cart

Tel: +61 407 671 672 Email: grahame.casey@jayrow.com.au Excellent condition, utility and firefighting configuration. 3000 hourly/5 year inspection completed in August 2017. Extensive spares, role equipment, GSE and tooling package available separately. Airframe: BLR Fast Fin and Strakes, Dart Extended Height Skid Gear 39”, 1 x 90 gallon auxiliary fuel tank, 1 x 20 gallon auxiliary fuel tank. Avionics/Radios: Garmin GNS 530W GPS, KTR 908 VHF COM, Technisonic TFM-138 VHF COM. Additional Equipment: Simplex 304 Fire Attack Tank with offload pump, Kawak hydraulic system and snorkel, FAST 350 Gallon bucket system, spine board stretcher, rappelling system, offload cargo arm with hook

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P131-135.qxp 20/03/2019 09:41 Page 5

M A R K E Tel: +44 (0)1280 703 109, +44 (0)7831 239 076 T Turweston Helicopters E-mail: Phil@turwestonhelicopters.co.uk P L Price: £235,000 Excl. VAT Bell 206 B11 in supurb condition, just had a fresh Annual A inspection completed on 08/10/2018, in private use by owner, a C Year: 1968 B2 machine completly updated to a B3, recently overhauled E 250-C20B turbine so lots of hours, immaculate paintwork, very

Bell 206B II

S/N:

208

Reg:

G-BXRY

nice cloth interior, carpet protectors. New 8.33 radios. An absolute bargin for a turbine machine

TTAF:

15,951

Cell: +44 (0)7831 239 076

Location: UK

+1 832 934 0055

Alberth Air Parts

Par Avion Ltd

Spare Parts

FALCONS • HAWKERS • LEARS

•BUY •SELL •TRADE

www.paravionltd.com

CESSNA LEARJET HAWKER WESTWIND FALCON GULFSTREAM

www.alberthaviation.com

SALES • ACQUISITIONS • CONSULTING

Fax: +1 832 934 0011

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The BEST Aircraft For Sale Search anywhere, everywhere on pc, smartphone and tablet

.com

www. Advertiser’s Index 1st Source Bank...................................................73 AeroBuyNow.......................................................128 AeroExpo UK ......................................................138 Aircraft BlueBook ..............................................115 Aircraft Finance Corporation................................9 Aradian Aviation....................................................89 Avjet Global ................................................. 38 - 39 Avpro ..............................................................12 - 15 Boutsen Aviation ..................................................69 Central Business Jets .......................................139 Conklin & de Decker............................................68 Corporate Concepts ...........................................41 Dassault Falcon Jet .........................................2 - 3 Donath Aircraft Services.....................................65 Duncan Aviation ...........................................36 - 37 Eagle Aviation........................................................23 EBACE.................................................................118

ElliottJets ...............................................................35 Engine Assurance Program.............................101 Freestream Aircraft ..............................................11 General Aviation Services ..................................55 Global Jet Monaco .......................................... 5 - 8 Hatt & Associates.................................................25 IBA...........................................................................85 Jean Boulle Luxury ...............................................45 JetBrokers .....................................................60 - 61 Jetcraft Corporation ..........................50 - 51, 140 Jeteffect .........................................................58 - 59 JetHQ ...................................................................127 JETNET ................................................................113 Jet Sense Aviation ..................................123 - 125 Jet Transactions ...........................................52 - 53 JSSI (Jet Support Services)...............................21 Leading Edge Aviation Solutions......................83

Lektro....................................................................115 Mesotis Jets ........................................................126 OGARAJETS................................................30 - 31 Par Avion ................................................................33 Reinland Air Service..........................................130 Sky Aviation Holdings.......................................122 Southern Cross Aviation ..................................107 SmartSky Networks .............................................99 Sparfell & Partners........................................46 -47 Textron Aviation Pre-Owned ..............................79 The Elite London ................................................106 The Jet Business..........................................26 - 27 The Registry of Aruba ............................1, 18 - 19 Total Jet Solutions..............................................129 VREF ....................................................................115 Wright Brothers Aircraft Title.............................95

Copy date for the May 2019 Issue - Wednesday 10 April 2019 PROUD MEMBERS OF

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AvBuyer (USPS 014-911), April 2019, Vol 23 Issue No 4 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.

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Aircraft For Sale • AIRCRAFT • HELICOPTERS

AIRCRAFT

PAGE

AIRCRAFT

AIRBUS

CESSNA

ACJ 318 . . . . . . . 27, A318 Elite . . . . . 5, A319CJ . . . . . . . . 46, 69, A319 VIP . . . . . . 5, A380-800 . . . . . . 46,

Citation

BAE AVRO RJ70. . . . . 69, 132,

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 27, BBJ MAX 8 . . . . . 5, 737VVIP . . . . . . . 41, 747-8 . . . . . . . . . . 46, 757 . . . . . . . . . . . 39, 767-200ER . . . . . 39, 787-9. . . . . . . . . . 51, 140, MD-87. . . . . . . . . 52,

BOMBARDIER Global 5000 . . . . 5, 47, 50, 51, 60, 69, . . . . . . . . . . . . . . . 140, Global 5500. . . . 131, Global 6000 . . . . 39, 47, 50, 51, 140, Global 7500 . . . . 5, Global Express . 26, 50, 83, Global Express XRS. . 5, 11, 12, 38, . . . . . . . . . . . . . . . 51, 140,

PAGE

ISP . . . . . . . . . . . 23, II . . . . . . . . . . . . . 61, III . . . . . . . . . . . . . 60, 61, V. . . . . . . . . . . . . . 60, VI . . . . . . . . . . . . . 60, X . . . . . . . . . . . . . 14, 51, 59, 139, XLS . . . . . . . . . . . 35, XLS+ . . . . . . . . . . . 5, 33, 107, 131, CJ1. . . . . . . . . . . . . 35, 132, CJ1+ . . . . . . . . . . . 55, 126, 133, CJ2. . . . . . . . . . . . . 23, 47, 51, 83, CJ2+ . . . . . . . . . . . 35, 69, 83, 126, CJ3. . . . . . . . . . . . 14, 33, 55, 59, 83, Bravo . . . . . . . . . 51, Encore . . . . . . . . 14, Grand CaravanEX.140, Jet . . . . . . . . . . . . 128, Latitude . . . . . . . 131, Mustang. . . . . . . . 23, 69, 107, Sovereign. . . . . . 35, 132, Sovereign+ . . . . 51, 59, 140,

Pistons T182T . . . . . . . . . . 23, T206H . . . . . . . . . 60,

CIRRUS SR22G2 . . . . . . . 60, SR22G3 . . . . . . . 23,

AIRCRAFT

PAGE

. . . . . . . . . . . 13, 26, 30, . . . . . . . . . . . 13, 26, 131, . . . . . . . . . . . 61, . . . . . . . . . . . 69, . . . . . . . . . . . 39, 50, 58, . . . . . . . . . . . 50, 51, 131, 140, . . . . . . . . . . . 51, 140,

Learjet 31A . . . . . . . . . . . 23, 60, 35A . . . . . . . . . . . 60, 36A . . . . . . . . . . . 133, 40XR . . . . . . . . . . 59, 45 . . . . . . . . . . . . 51, 59, 140, 45XR . . . . . . . . . . 58, 55 . . . . . . . . . . . . 61, 60 . . . . . . . . . . . . 51, 122, 140, 60SE . . . . . . . . . . 139, 60XR . . . . . . . . . . 51, 75. . . . . . . . . . . . . 14, 132, 140,

DAHER SOCATA TBM700A . . . . . . 69, TBM700B . . . . . . 23, TBM930 . . . . . . . 35,

DASSAULT FALCON 7X . . . . . . . . . . . . 5, 6, 11, 13, 69, 140, 8X . . . . . . . . . . . . 13, 20F . . . . . . . . . . . 60, 50 . . . . . . . . . . . . 30, 37, 61, 69, 139, 50EX . . . . . . . . . . 14, 37, 58, 129, 900EX . . . . . . . . . 2, 900EX EASy . . . 2, 13, 26, 139, 900LX . . . . . . . . . 2, 51, 2000 . . . . . . . . . . 3, 13, 14, 37, 107, 2000C . . . . . . . . . 139, 2000EX. . . . . . . . 13, 26, 83, 2000EX EASy . . 13, 139,

PAGE

2000EX EASy II. 25, 2000LX . . . . . . . . 51, 2000LXS. . . . . . . 3, 83,

850XP. . . . . . . . . 39, 900XP . . . . . . . . . 89, 4000 . . . . . . . . . . 37,

DORNIER

HONDA

328-310 . . . . . . . 37,

JET . . . . . . . . . . . 133, JET HA-420 . . . . 140,

EMBRAER Legacy 500 . . . . 14, 27, 36, 51, 140, Legacy 600 . . . . 47, 107, Legacy 650 . . . . 46, 61, 69, Lineage 1000 . . 5, 7, 27, 46, Lineage 1000E . 139, Phenom 100 . . . 128, Phenom 300 . . . 41, 51, 69,

IAI Astra1125SP . . 139, Westwind II . . . . 60,

NEXTANT 400XT . . . . . . . . . 25,

PIPER GULFSTREAM IVSP . . . . . . . . . . 12, 39, 89, 107, V. . . . . . . . . . . . . . 11, 12, 27, 41, 89, . . . . . . . . . . . . . . . 132, 150 . . . . . . . . . . . 139, 200 . . . . . . . . . . . 12, 37, 58, 124, 280 . . . . . . . . . . . 140, 400 . . . . . . . . . . . 36, 450 . . . . . . . . . . . 11, 26, 65, 83, 89, 500 . . . . . . . . . . . 58, 550 . . . . . . . . . . . 5, 8, 11, 12, 46, 51, . . . . . . . . . . . . . . . 58, 89, 140, 650 . . . . . . . . . . . 140, 650ER. . . . . . . . . 83,

Challenger 300 350 600 604 605 650 850

AIRCRAFT

HAWKER BEECHCRAFT King Air 200 . . . . . . . . . . . 60, 350 . . . . . . . . . . . 25, B200 . . . . . . . . . . 14, B250 . . . . . . . . . . 51, 140, C90 . . . . . . . . . . . 60, C90B. . . . . . . . . . 50, 60, E90 . . . . . . . . . . . 69,

Beechcraft Premier IA . . . . . 69, 89,

Hawker 400A . . . . . . . . . . 60, 400XP . . . . . . . . . 35, 55, 60, 125, 400XPR . . . . . . . 14, 650XP. . . . . . . . . 51, 800A . . . . . . . . . . 55, 800XP . . . . . . . . . 30, 36, 123,

Cheyenne IIIA . . 60,

QUEST Kodiak 100 . . . . 130,

HELICOPTERS AIRBUS/ EUROCOPTER AS350B-3 . . . . . 134, AS365N-1 . . . . . 134, EC 145 . . . . . . . . 69, H125 . . . . . . . . . . 51, 140,

AGUSTAWESTLAND AW109SP . . . . . . 37, AW109S Grand . 47, A119 Koala . . . . 51, 89, 140,

BELL 206BII. . . . . . . . . 135, 212 . . . . . . . . . . . 133, 134, 412EMS . . . . . . . 133, 412EP . . . . . . . . . 89, 134, 427 . . . . . . . . . . . 134,

SIKORSKY S-92A . . . . . . . . . 14, 85,

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CBJ March.qxp_CBJ November06 18/02/2019 14:30 Page 1

General Offices

Mexico office

Minneapolis / St. Paul

TEL: 52.55.5211.1505

TEL: (952) 894-8559

CELL: 52.55.3901.1055

FAX: (952) 894-8569

E-MAIL: Enrique@CBJets.com

EMAIL: INFO@CBJETS.COM

2004 Falcon 2000EX EASy SN40

Embraer Lineage 1000E

ESP Gold on Engines, No Damage History, WAAS/LPV, ADS-B Out, CPDLC - FANS/1A, Increased Max Take Off Weight

Only 811 Hours and 346 Cycles since new; Preferred 19 Passenger Interior, World Wide ready, transferrable Warranty & Maintenance Programs

2002 Falcon 900C SN 194

Falcon 50 SN163

Single Owner, Recent “C” Paint/Interior By Dassault Wilmington, Preferred Fwd Crew Lav and Dual Aft Divan Configuration

MSP Gold on Engines, Enrolled on CASP Avionics Program, New Exterior Paint August 2018 at WestStar, New Carpet and seat conditioning September 2018

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

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


This being the aviation industry, you’d think more companies would share our

51,000

The smoothest connection to your next aircraft.

2014 GULFSTREAM

foot view. G280 S/N 2049

• 717 Hours; 297 Landings

• Fully Enrolled on Programs Up here, the air and the competition are rare. Our birds-eye view of the • Enhanced Nav w/ FANS

aircraft brokerage market comes from our unmatched combination of 1/A & ADS-B V1 nearly 50 years’ experience and a large, global network of partners and customers. That means you have more buy, sell and trade options. put a tailwind on your transaction. Call us and see. You’ll love the view. 2014 GULFSTREAM

www.jetcraft.com I info@jetcraft.com I Headquarters +1 919-941-8400 G650 S/N 6085 • 678 Hours; 306 Landings • Fully Enrolled on Programs • EVS and HUD

2017 BOMBARDIER GLOBAL 6000 S/N 9708

2018 HONDA HONDAJET HA-420 S/N 42000090

• 115 Hours; 105 Landings • Airframe & Engines on Programs • Equipped with SVS & ADS-B Out v2

• 308 Hours; 263 Landings • Exceptionally Equipped • Link 2000+ with ADS-B Out

2019 BOMBARDIER LEARJET 75 S/N 45-574

2012 DASSAULT FALCON 7X S/N 135 • 3,427 Hours; 870 Landings 1998 Beechjet 400A • Fully Enrolled on Programs 2007 Challenger 300 • 8-Pax with Crew Rest & Shower

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

• Delivery Time • Garmin G5000 Avionics Suite • ATG Broadband w/ Talk and Text

2011 Challenger 300 1997 Challenger 604 2005 Challenger 604 2007 Challenger 605 2002 Citation Excel 1993 Citation VI 1994 Citation VII

I N FO @ JETC RAF T. CO M

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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 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 I I I I I I

Better perspective on market trends. And worldwide connections that

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

ALSO AVAI L ABLE DOWNLOAD OUR 2008 AGUSTA KOALA A119 KE FEATURED INVENTORY JETCRAFT APP 2017 AIRBUS HELICOPTER H125 2014 KING AIR B250 2015 BOEING 787-9 2016 CHALLENGER 650 2010 CHALLENGER 850 2010 GLOBAL 5000 2014 GLOBAL 5000 2010 GLOBAL XRS 2014 CITATION SOVEREIGN+ 2013 CESSNA GRAND CARAVAN EX Search aircraft listings Sort by manufacturer 2015 GULFSTREAM G550 2006 Citation XLS 2000 Global Listing Express brochures 2001 LEARJET 45 2003 CRJ 200 2001 Hawker 800XP Recent Jetcraft news 2004 LEARJET 60 1997 CRJ 100SE 2002 LearView 45 upcoming events 2018 LEGACY 2008 Falcon500 2000DX 2010 Lear 45XR 2003 Falcon 2000EX 2003 Legacy 600 1990 Falcon 50 2012 Lineage 1000 1991 Falcon 50 1996 Sikorsky S-76B 2000 Falcon 50EX 2012 Falcon 7X

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J ETC R AF T. CO M

3/11/19 2:33 PM

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