AvBuyer Magazine February 2019 by AvBuyer Ltd.

FC Avjet February.qxp_FC December 06 23/01/2019 14:10 Page 1

Volume 23 Issue 2

™

ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION

THIS MONTH Cockpit Upgrades: The Value of Meeting Compliance Helicopter Comparison: AW109E Power vs Bell 429

2011 Challenger 605

Jet Connectivity: Finding What’s Best for You

See pages 30 & 31 for further details

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THE BEST JETS FROM THE PEOPLE WHO KNOW THEM BEST.

FALCON 7X

2011 – S/N 116 3,049 hrs. / 1,021 cycles

• Classic 14 passengers configuration. No crew rest • EASA EU-OPS1 compliant , 2020 mandates compliant • EASy II: SBAS/ LPV, ADSB-Out, ADM, SVS, CPDLC ATN-B1 CPDLC FANS 1/A • HUD & EVS, 2 EFB’s • Dual Satcom: Inmarsat 7120 honeywell & Iridium Axess II • Under FalconCare (C check due Mars 2019)

FALCON 900LX

2016 – S/N 298 1,192 hrs. / 743 cycles

• Classic 14 passengers configuration with dual lavs • EASA EU-OPS1 compliant , 2020 mandates compliant • EASY II: SBAS/LPV, ADSB-Out, SVS, XM Weather, CPDLC ATN-B1, CPDLC FANS 1/A • HUD & EVS, 2EFB’s • 3FMS, 3IRS, 3 VHF, • Honeywell 7120 Satcom (WIFI & internet ), HD external cameras

FALCON 50EX • • • • •

2001 – S/N 315 4,409 hrs. / 2,831 cycles

Mint condition 9 passagers configuration (2013 refurbishement) EASA EU-OPS1 compliant Pro Line 21 avionic suite (2013 retrofit) Dual Satcom: Inmasat Aviator 300 and Iridium External camera, Nav and Taxi Led lights

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When buying a pre-owned Falcon from Dassault, you’re not only investing in a jet that’s renowned for versatility, flexibility, and lasting value. You’re also making the most of your investment by going to the source. The people whose knowledge and experience will keep your Falcon flying for years to come.

FALCON 2000EX EASy • • • • • •

9 passengers EASA compliant EASy II (Baseline, LPV, ADS-B Out, CPDLC ATN-B1 & FANS 1/A+) 3 FMS, 3 IRS, 3 VHF, 2 RAD ALT, HUD, Iridium Satcom with DIU Engines on ESP Gold and APU on MSP Gold 2C due August 2019

FALCON 900EX EASy • • • • • • •

2004 – S/N 128 4,562 hrs. / 2,435 cycles

14 passengers with Forward and Aft lavatories EASA / EU-OPS1 compliant EASy II (Baseline, SVS, Dual Jeppesen Charts) Winglets 3 FMS, 3 IRS, 3 VHF, Satcom MCS-7000, HUD Engines and APU on MSP Gold 1C due March 2022

FALCON 2000 • • • • •

2007 – S/N 113 2,516 hrs. / 906 cycles

2004 – S/N 208 6,276 hrs. / 3,974 cycles

10 passengers EASA / EU-OPS1 compliant 2 FMS, 2 IRS, 2 VHF, Satcom Jetsat Aero I Engines on CSP Gold and APU on MSP Gold 1C due in March 2022

Editor Welcome Feb19.qxp_JMesingerNov06 21/01/2019 12:55 Page 1

Guest Editor’s VIEWPOINT

Charles Porteous

Are you Ready to Embrace the Inevitable Opportunity? very year, I very much look forward to attending Business Aviation events such as NBAA-BACE, EBACE and others. These events allow me to see first-hand the changes we often hear about when conducting marketing research interviews and surveys for our international Business Aviation clients who come from across the industry spectrum. Over the years, I have seen the emergence (and disappearance) of new OEMs, r apid growth in international markets and the rise in prominence of e-commerce and connectivity providers, among many other developments. Looking back, while Business Aviation is a relatively conservative industry, its evolution since my entry in 1998 is still breathtaking. A new trend, which is undeniable and now very visible, is the rise in prominence of new generational cohorts in our industry. They are now regular users of business aircraft and are solidly installed in management positions among Business Aviation providers. Baby Boomers (born 1946-64), while continuing to play key senior decision-making roles, are now retiring in greater numbers and thus passing the torch to younger generations, such as Generation X (born 1965-80) and Millennials (born after 1980). You only have to walk the floor at NBAA -BACE to see generational change playing out in real time, where the booths of companies offering new service innovations and technology are filled with younger managers, while more established businesses have a more familiar balance of young and old. Attendance at general information sessions and press events held at shows also highlight these generational differences.

Why Does This Matter?

We see in our research that buying preferences, ways of doing business and even ways of accessing and using business aircraft often differ among generational cohorts. The differences are profound. For example, younger generations value the “experience” of Business Aviation and tend to derive less pleasure from ownership itself. Being relatively new to our industry, they place a high emphasis on leveraging technology an d rely less on

4 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

personal relationships when flying or doing business. Even pilot interfaces, such as avionics, and the operational tools used by flight departments, now need to reflect a “touch and toggle” interface. These examples are just the tip of the iceberg. The list is endless, and the changes are happening now. The key to successfully navigating this new multigenerational reality is to listen care fully to the needs of all your customers and ensure generational viewpoints are part of your business planning and product development. Those who understand different age segments are best positioned to capitalize on the ever expanding opportunities generational change provides. Ignoring them increases business risk and longterm obsolescence resulting from an overreliance on the belief that what sells to day will continue to sell in the future. Don’t forget, because generational change is gradual, you may not realize it is upon your business until it is too late. The good news for seasoned Business Aviation professionals is that younger cohorts highly value what earlier generations have built, and they covet the good judgement possessed by those who have come before them. Both are extremely valuable as new entrants to Business Aviation “learn the ropes” - albeit on their own terms. Furthermore, the buying power and market influence of mature generations on Business Aviation will continue to be significant for the foreseeable future.

Embrace Change Before it Embraces You

While demographic change is inevitable, it need not be scary. Proactive listening to customer needs, excellent business planning and organizational adaptability can make these important industry developments work in your favor. Of course, shouldn’t you be doing this anyway, even if major demographic change was not on the horizon? ❙ Charles Porteous is founder and president of Seefeld Group, a “voice of the customer” consultancy dedicated to assisting Business Aviation providers make better decisions by gathering objective and measurable feedback from their clients and the market place. More from www.seefeldgroup.com.

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AV_BUYER_February_2019.indd 2

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Contents Layout Feb19.qxp 23/01/2019 10:51 Page 1

Vol. 23 Issue 2

EDITORIAL Commissioning Editor Matthew Harris +44 (0)20 8939 7722 editorial@avbuyer.com

Contents

2019 4

Guest Editor

Trends and observations from the leading analysts…

Buying a Jet in 2019? Questions to Ask Your Broker

How to Choose the Right Corporate Helicopter

Where is the Sweet-Spot for a Jet’s Scrap Value?

Would a Recession Influence Jet Retirements?

What to Consider When Chartering Your Jet

Market Intelligence

Buying & Selling

Ownership

Aircraft Price Guide Medium Jet Values

Aircraft Specifications

Medium Jet Performance & Specifications Guide

Leonardo AW109E Power vs Bell 429

84 88 92

Helicopter Comparision Maintenance

What’s the Real Value of an Aircraft Upgrade?

Connectivity

Finding the Solution That’s Best For You…

Avionics

Cockpit Upgrades: The Value of Meeting Compliance

How to Plan an Older Aircraft Panel Upgrade

104

OEM News and Industry Appointments

112

Products & Services

117

Showcases

124

Market Place

128

Advertisers Index

129

Aircraft for Sale Index

Community News

Next Month • Jets Comparison: Nextant 400XTi vs Cessna Citation CJ4 • Five Popular Jet Upgrades in 2019 • How do Registries Impact International Operations? 8 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

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 Freephone from USA: +1- 855 425 7638 lee@avbuyer.com Matt Chappell Freephone from USA: +1- 855 425 7638 MattC@avbuyer.com Lise Margin +1- 703 818 1024 lise@avbuyer.com Maria Brabec (European 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

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MarketIndicators FEB19.qxp_Layout 1 22/01/2019 14:09 Page 1

MARKET INDICATORS

Business Aviation Market Summary As 2019 gets underway, there’s much uncertainty around the world that could impact the buying decisions of business aircraft users. Rollie Vincent, Editor, Market Indicators offers his perspective of today’s market… ircraft sales professionals and their customers who fly in and around the US and UK should be as aware as anyone of the impacts of the unusual level of uncertainty that has been creeping into the marketplace. With the two leading English-speaking democracies dealing almost simultaneously with the self-inflicted wounds of a prolonged government shutdown (in the case of America) and Brexit (impacting the future relationship between the UK and Europe), innumerable intended and unintended consequences have already become apparent. Why, you may be wondering, should this be a concern to a business aircraft sales person or aircraft buyer? The livelihoods of Mary the TSA agent, Johnny the ATC officer, Annie the civil aviation authority analyst, Simon the pub manager, Jonathan the aerospace engineer, and Joe the plumber are all affected by events they feel powerless to control. Today, they may be working without pay, serving a smaller clientele, preparing paperwork to transfer certain processes of authorizations onto the European Continent, or generally feeling somewhat powerless in the face of uncertainty. If there is one thing that the movers and shakers of industry should agree upon, it is that increasing uncertainty is one of the last things we all need right now.

14 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Human nature is such that many people will hold off, or reduce spending, or will delay investment decisions when faced with unexpected change. While these individual choices may not show up immediately in broad-based measures of economic activity (think national GDP statistics) 70% of the US economy is driven by consumer spending, and slower spending means slower growth. On Sunday, January 20, 2019, fully 10% of US Transportation Security Administration (TSA) employees scheduled to work over the Martin Luther King, Jr. holiday (MLK Day) weekend took the day off, with many claiming they were not able to report to work due to financial limitations. According to a TSA statement, this compares to 3.1% on January 20, 2018, a Saturday the weekend following MLK Day last year. Although the TSA does not provide these data by airport, it is known that higher rates at specific airports – including Atlanta Hartsfield International and other key airline hubs – has already necessitated the shutdown of some entry points. Why, you might ask, is all this important to Business Aviation? Even though the commercial airlines are currently preying on talent anywhere they can find it (including BizAv), Business Aviation companies are highly dependent on a fullyfunctioning commercial airline system to be an www.AVBUYER.com

MarketIndicators FEB19.qxp_Layout 1 22/01/2019 14:10 Page 2

AVBUYER.com Rolland Vincent is president, Rolland Vincent Associates, LLC (RVA), a consultancy focused on aviation market research, strategy, and forecasting. RVA’s client base includes the world’s foremost civil aircraft and engine manufacturers, aerospace suppliers, aviation service providers, fleet operators, lenders / lessors, and the investment community. With 35+ years in the aviation industry, Rollie has served as a trusted consultant at Textron, Bombardier and ICAO in various roles. RVA also partnered with JETNET in 2010 to create JETNET iQ, a respected source of independent market intelligence. Contact him via rvincent@rollandvincent.com

attractive and cost-effective logistics partner moving people, parts and components wherever needed. Logistics disruptions can quickly lead to clogs in the system that rival the Great London Fatberg, especially when you sprinkle in a winter storm as hit the US Northeast on MLK 2019 weekend. Despite all honest efforts, this can be a clog that even Joe the plumber may be ill-equipped to handle (assuming, of course, that he did not also call in sick).

Business Aircraft Market Indicators

So, what were some of the key indicators of the health of the business aircraft market in 2018, and what do we expect in 2019? Although the final numbers are still being tallied, the good news is that the US Gross Domestic Product (GDP) looks to have grown by 2.9% in 2018, a respectable performance and almost double the 10-year average of 1.5% measured from 2008-2017. Fueled by mostly one-time impacts of the US tax and depreciation law changes and a spike in government spending, the US economy motored on, at the expense of higher long-term debt and increased budget deficits, even though the US is not fighting a major war or still recovering from an economic recession. A consensus of forecasts suggest that the US economy will grow at about 2.2% in 2019 (similar to the pace last seen in 2017) after the past year’s flirtation with a 3% growth rate. Just five of the ‘top 20’ national economies that are important to Business Aviation are believed to have grown at a rate in excess of 3% in 2018, although these collectively are home to less than 5% of the world’s business jet fleet.

Airplane Shipments/Transactions

From a business aircraft sales perspective, new business jet deliveries in 2018 appear to have come close to 2017’s numbers, at least based on units. The much-anticipated GAMA shipment report is due for publication on February 20, at which point we will have a clearer picture of how the year ended. At this point in time, we estimate that 2018 business jet shipments were down about 2-3% YoY, excluding the single-engine Cirrus Vision Jet as well as twin-aisle Boeing and Airbus business jetliners. Used business jet retail sales were virtually identical in January-November 2018 (with 2,425 jet sales, as recorded by JETNET) as they were in the same 11-month period in 2017. Paperwork related to sales in the always-strong month of December was still being reviewed at press time, but if 2017 was www.AVBUYER.com

any indication, sales in December 2018 may have approached last year’s final month tally of 325 jets. Despite the stimulating impact of the US tax and depreciation laws on year-end 2018 sales, the industry closets of available inventory are becoming increasingly bare. With just 8.9% of the business jet fleet listed for sale in JETNET databases at press time (that’s a little more than 1,900 aircraft), almost half of that inventory is more than 20 years old. Although December 2018 will probably be remembered as a very good sales month, it is unlikely to have matched the post-recession high of 397 jets sold in the final month of 2015.

Looking Ahead…

What should industry sales professionals and their customers look forward to in 2019? Economists are predicting broadly slower GDP growth in 2019 in North America, Europe, and key markets in Asia Pacific, with a few countries (like rebounding Brazil) being notable exceptions. Limited inventory, a very strong US$, expectations for a slowdown in YoY corporate profit growth, a continuation of last year’s gyrations in equity markets, the harsh realities of a dysfunctional US Government, and the distinct possibility of a ‘hard’ Brexit with no intergovernmental agreement will likely conspire to dampen the enthusiasm of business aircraft customers. In such an environment, some of the spoils, as always, will go to the fast-moving, the fast-thinking, the fast-talking and the deal-seizing. Smart buyers will remember to work with organizations and sales professionals that they have entrusted in the past to help them make one of their most important transportation equipment decisions of the year. Overall, however, we expect new business jet shipments (especially total dollar value) to exceed the levels achieved in 2018, driven by production ramp-up of newly certified models like the Pilatus PC-24, Gulfstream G500 and Bombardier Global 7500, and initial deliveries of in-development and soon-to-be-certified aircraft such as the Cessna Citation Longitude, Gulfstream G600 and Global 6500. If a slowdown in new business jet orders occurs as expected in 2019, this should not become apparent in shipment rates until 2020 or more likely 2021 due to the long production lead-times involved and the fact that much of the near-term delivery slots have already been sold to eagerlyawaiting customers. MI www.navigating360.com

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AVBUYER MAGAZINE Vol 23 Issue 2 2019

MarketIndicators FEB19.qxp_Layout 1 21/01/2019 14:19 Page 3

MARKET INDICATORS

AVBUYER.com

Short Term Gain, Mid-Term Pain? Business jet deliveries should heat up in 2019, according to analyst Brian Foley. But improvement could be short-lived. Here’s why… Before hazarding a guess as to what happens in 2019 and beyond, some perspective is useful. In 2008 the number of new business jets delivered worldwide numbered an unsustainable 1,300 units (not a very high-volume business even in the best of times). Following the Great Recession, deliveries dwindled to around half that amount and have stubbornly remained there through today. “I anticipate that things will change for the better this year as brand-new models, which tend to excite the market and cause a spurt of sales, begin to enter the market,” Foley offers. “These spanking-new ships include the G500 and G600 from General Dynamics' Gulfstream division, Global 7500 from Bombardier and Citation Longitude from Cessna. “Hence, I feel 2019 will be a better year than last as these additional jets move the needle upwards on overall industry delivery values and units.” However, Foley sees several factors that question the sustainability of this increase. For example, emerging markets – which once accounted for 40% of all business jet deliveries – are struggling and account for just 15% today. “As a whole, Asia, Latin America, Europe, the Middle East and Africa are displaying a relative weakness for now,” Foley elaborates. “That leaves the North American powerhouse, principally the US, to drive the market. However, there is growing evidence that its current economic strength won't last forever as the stock market, consumer sentiment and other

metrics begin to suggest otherwise, and with increased talk of a recession looming somewhere around the corner.” Another damper on new business jet sales is that they now depreciate quickly like new cars do as soon as they're driven off the lot. Like a car, in five years a jet will be worth just 50% of its new value, meaning a $35m jet will have a whopping equity loss of over $17m which has taken the market some getting used to. In summary, 2019 results could easily see upwards of a 10% boost over 2018 driven primarily by the impact of several new jet models simultaneously coming to market. However, the duration of the upturn will be challenged as the novelty of the new aircraft wears off and economic reality sets in. MI www.brifo.com

PrivateFly Offers 2019 Industry Predictions Adam Twidell CEO of PrivateFly has offered his industry predictions for 2019, as the company releases its annual trends report for 2018. Following is a selection… Make or break for shared charter programs: For the past few years there has been lots of noise and investment around seat sharing in private jets. However, no-one has yet been able to prove the viability of the business model. 2019 will be make or break time. Investors will not be willing to keep pouring money in if these companies continue to make losses. Industry consolidation ramping up: We’ve seen an increasing trend towards consolidation of businesses within the industry over the past few years. And we’ll see more mergers and acquisitions within the on-demand charter segment this year. It’s still very fragmented and both the customer and the industry would benefit from this being less so. Regulation impact - including Brexit: This year our industry needs to grapple with several global regulation challenges. Brexit will have a major impact, although exactly how is still unclear. Private jet operators need to be able to optimize their flight plans within Europe to make sense commercially. Limitations on inter-European flights will mean more complexity, less choice and, ultimately, customers paying more. In the US, the clock is ticking for the incoming ADS-B requirement set by the FAA which means older aircraft require 16 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

an expensive upgrade to their tracking systems to comply from January 2020 (Europe follows suit in June 2020). This will impact the used market, and potentially increase charter costs on aircraft over 10 years old. New jets will stir up the Super Mid-size market: The Super Mid-size segment will be one to watch this year, as Embraer’s Praetor 600 enters the market alongside Textron’s Citation Longitude. Both will be vying to dethrone the popular Bombardier Challenger 350. More Ultra-Long Range demand: Following the trend seen in the airline segment, at the top of the market we expect to see more long-range clients looking to fly further and choosing higher-priced non-stop flights over fuel stops, for faster overall journey time and uninterrupted sleep. All eyes are on the Global 7500 as it enters service. page 18 MI www.privatefly.com

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MARKET INDICATORS

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G500 Used Market Impact? 2018 was a success for the used Business Aviation industry in North America, according to Hagerty Jet Group, as aircraft values stabilized, transactions increased and relative supply decreased… In some cases, pre-owned values increased by as much as 15% for late model, low time aircraft. The manufacturers managed to decrease backlogs and balance inventories for a better delivery mix. Market sentiment in developed economies certainly changed in 2018. Following several years of lacklustre demand and false starts, 2018 started and finished with strong and consistent demand across all sectors. In the US, 100% bonus depreciation compelled many hesitant buyers to engage the market. Pent-up demand along with improving US economic conditions created demand unseen since 20062007. In Q4 2018, would-be buyers were frustrated with the lack of used inventory. Suddenly, volatility in US equity markets is making some buyers reluctant to pull the trigger on an aircraft purchase which means less competition and a potential for inventories to grow again.

G500 Used Market Impact?

As new G500s enter service, we’re hopeful the upgrade cycle will introduce used G450 and G550 inventory in the six- to 10-year-old age range. The new supply will help, but not entirely satisfy strong demand for very new used aircraft less than five years old. Gulfstream’s most notable achievement in 2018 was officially delivering the G500, and it delivered

18 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

eight G500s in Q4. As with all clean sheet design aircraft, there are sure to be a series of growing pains with the G500. Experience from initial G500 operators will be the proving ground for the success of the G500’s future. Next, Gulfstream will shift attention to certifying and delivering the G600 which was anticipated in Q4 2018. Continued delays could heavily impact the anticipated delivery schedule for Gulfstream in 2019.

FBO Industry Review: 2018

Going Head-to-Head in 2019

Gulfstream and Bombardier will go head to head in 2019 on competing aircraft pairs such as the Global 6500 and 5500, the G500 and G600 as the two newest models to enter service. The first Global 7500 entered service in December 2019 and will serve as the corporate demonstrator. More aircraft are expected to enter service in Q1 2019. Although it’s been six years since the G650 entered service, Bombardier has a great product to compete in the UltraLong-Range Jet segment and Bombardier needs to get this aircraft to market to establish a reliability record and generate more sales and a larger market share. Once again, Gulfstream is first to market with the G500 and G600, but Bombardier is close behind with expected certification of the Global 5500 and 6500 by the end of 2019.

Super Mid-Size Segment

In the super mid-size segment of the market, Gulfstream’s G280 has strong competition with the Challenger 350, as always, but the entry of the Embraer Praetor 500 and 600, along with the Citation Longitude, could dilute market share. Meanwhile, the used G280 market is healthy with resale values remaining relatively strong. We can expect a choppy used business jet market in 2019 due to political uncertainty and Equity Market volatility. 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. MI www.hagertyjetgroup.com

According to John L. Enticknap and Ron R. Jackson, as FBOs begin to close their books there’s evidence that 2018 was another banner year for the industry, which experienced a peak in Business Aviation flight activity and wild fluctuations in fuel costs. At NBAA-BACE in Orlando in October, Enticknap and Jackson had the opportunity to talk to numerous FBO owners and operators who indicated that 2018 was stacking up to be a very good year for fuel sales. These reports are consistent with the findings in the Annual FBO Fuel Sales Survey conducted in January. Fifty-nine percent of survey respondents said then that they expected fuel sales to increase in 2018 compared to 2017. In the survey at the beginning of the year, 73% of participants said the economy is headed in the right direction. Although the stock market has experienced recent declines, basic economic metrics indicate a strong economy headed into 2019 with unemployment nearing 3% (the lowest in 49 years), a positive gross domestic product growth rate of 3.4%, an increase in both personal and disposable income, and lower fuel costs helping keep inflation in check. MI jenticknap@bellsouth.net or

ronjacksongroup@gmail.com

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page 20

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MARKET INDICATORS

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Flight Activity - North America DECEMBER 2018 vs DECEMBER 2017 North America Flight Activity

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-2.8%

LIGHT JET

3.1%

-9.8%

4.6%

-1.6%

MID-SIZE JET

3.3%

-2.4%

10.0%

2.8%

LARGE CABIN JET

-0.7%

6.6%

-20.3%

-0.5%

ALL

1.4%

-4.1%

3.5%

-0.5%

DECEMBER 2018 vs NOVEMBER 2018 North America Flight Activity

PART 91

PART 135

FRACTIONAL

ALL

TURBOPROP

-11.9%

-5.4%

-10.8%

-9.1%

LIGHT JET

-7.9%

-6.5%

-4.5%

-7.0%

MID-SIZE JET

-10.9%

-5.2%

-4.0%

-7.3%

LARGE CABIN JET

-10.0%

-1.8%

-2.5%

-6.4%

ALL

-10.3%

-5.1%

-4.5%

-7.7%

TRAQPak’s review of Year-over-Year (YoY) North American flight activity (December 2018 vs. December 2017) indicates a decrease of 0.5%. December flight activity posted a Month-over-Month decrease, finishing down 7.7% from November 2018. The results by operational category, YoY, were mixed with Fractional activity, again, posting the largest yearly increase. Part 91 activity also posted an increase, while Part 135 activity declined for the seventh straight month. The aircraft categories were mostly negative with Mid-Size Jets posting the only increase from 2017. Turboprops posted the largest decrease.

Month-over-Month

Results by operational category were all down MoM in December, with the Part 91 segment posting the largest monthly decrease. Aircraft categories were all negative, as well, with Turboprops posting the largest decrease.

December Forecast

Looking ahead, TRAQPak analysts estimate there will be a 0.6% increase in overall flight activity Year-over-Year in January 2019. MI www.argus.aero

Flight Activity – Europe

There were 53,546 Business Aviation departures in Europe during December according to WingX, representing a slight increase in YoY activity, boosted by an exceptional growth in business-related piston traffic… December proved to be a strong growth month in France, Spain and Germany, with the UK flat, and Switzerland and Italy down. Russia experienced a 10% drop, and Turkey a 20% decline in departures. For FY2018, Germany had the most growth with flights up 5%. For the full year, 13 of the 20 largest markets in Europe were up in 2018, though of the biggest markets only Germany and Spain experienced what could be described as ‘robust’ growth. Activity clearly slowed in H2 2018 in the UK, France and Italy. Flight activity within Europe was essentially flat during December. A big gain was recorded in arrivals from North America while there was a drop-off in flights from Africa, the CIS region and the Middle East. Business jet flights from China into Europe were up by 11% in 2018. AOC/Charter activity comprised almost 60% of all flights in December but was flat YoY with solid declines in business jet flights. ‘Short’ sectors were up by 4% this month due to piston flying activity. “Overall flight activity trends in December were flattered by the big increase in business piston traffic,” summarized Richard Koe, Managing Director of WingX Advance. “Clearly business jet demand slumped in France and especially Paris due to the widespread protests. “The outlook for 2019 will depend significantly on the genuine demand for replacement and upgrade of older aircraft as new business jets come off the production line in larger numbers.” page 22 MI www.wingx-advance.com

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Hatt & Associates January.qxp_Layout 1 17/12/2018 15:22 Page 1

2007 Falcon 2000EX EASy II S/N: N331HA Reg: 117 5,435.35 hours since new Engines enrolled on ESP Gold, APU enrolled on MSP Gold Next Gen Avionics FANS 1/A, CPDLC, ADSB-Out, TCAS 7.1

Refurb being completed E, F, Interior and G Insp. Completed by West Star - by Grand Junction in September2016 Standard Aero Asking $11,395,000 Teflon Coating completed in 2017

Unique in Experience, Global in Scope. 1999 Hawker 800XP S/N: 258436. Reg: N114BA Asking $1,295,000 11,761.6 hours since new ATG-5000 High Speed Internet Enrolled on MSP Program ADS-B Out installed April 2018

2008 King Air 350 S/N: C-GCEU. Reg: FL-580 Asking $3,950,000

1-(303) 790-1050 hattaviation.com

2,612.8 hours since new ADS-B (V2) Out Synthetic Vision System Engines enrolled on ESP Avionics enrolled on CASP

2012 Nextant 400XT S/N: RK-334. Reg: N590TM 11,338.2 Hours since New Remanufactured Nextant in 2012 Collins Pro Line 21 Avionics Suite Aircell Axxess (Dual Iridium SAT Phone, Internet & Wifi) A,B,C, D inspection being completed at Hawker Beechcraft Tampa Production Unit #20

Hatt & Associates: Global Aviation Sales Acquisitions

Brokerages

Consulting

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Contract/Legal Services

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MARKET INDICATORS

AVBUYER.com

In-Service Aircraft Values & Maintenance Condition Asset Insight’s market analysis on December 31, 2018 (covering 94 fixed-wing models and 1,591 aircraft listed for sale) revealed a 4.3% decrease to the tracked inventory fleet (71 units), with all four groups contributing to the reduction… Small Jets led the way with a 6% decrease, Medium Jets were next at 5.1%, Turboprops decreased 4.3%, while Large Jets posted the smallest inventory fleet decrease at 2.8%. Sales transactions put a serious dent in the inventory fleet during the last month of 2018. Large Jets won the 2018 value competition, while Medium Jet sellers absorbed the largest value loss. Small Jets and Turboprops experienced a minor value change – the former an improvement and the latter a decline.

Inventory Fleet Maintenance Condition

Fleet asset quality remained steady as 2018 closed. Large Jet transactions focused on lower quality, and higher priced assets (presumably due to good values) while the asset quality of Medium Jets sold was mixed. Higher quality assets traded among the Small Jet group, while Turboprop inventory quality recorded a 12-month best with respect to the number of upcoming maintenance events for the remaining fleet, although these will, on average, be more expensive to complete. Overall, the tracked inventory posted the following: The Quality Rating remained in the ‘Excellent’ range, although it decreased a bit to 5.300 on Asset Insight’s scale of -2.5 to 10. The year ended with Maintenance Exposure (an aircraft’s accumulated/embedded maintenance expense) remaining virtually unchanged since November and, at $1.415m, the figure was slightly better (lower) than the 12-month average.

Maintenance Exposure to Ask Price (ETP) Ratio

The ETP Ratio is a useful indicator of an aircraft’s marketability. It is computed by dividing the asset's Maintenance Exposure (the financial liability accrued with respect to future scheduled maintenance events) by its Ask Price. ‘Days on Market’ analysis has shown that when the ETP Ratio is greater than 40%, a listed aircraft’s time on the market increases, usually by more than 30% 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). December’s 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 worsened slightly to finish 2018, increasing to 65.6% from November’s 65.1%. As usual, Turboprops led the way at 51.1%, the best (lowest) ETP Ratio; Large Jets followed with an improvement at 58.8%; Small Jets worsened to 66.4%; and, Medium Jets worsened to 77.8% following three consecutive monthly improvements.

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22 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Table A

Fleet Maintenance Condition $ Million

5.35

$1.50

5.300

$1.45 5.25 $1.41

5.15

$1.40 $1.35

Quality Rating

Maintenance Exposure

Quality Rating Trendline

Table B LOW RISK AIRCRAFT MODEL ETP RATIO G650 Boeing BBJ Phenom 300 F2000LX Citation CJ4 525C CL-605 Citation Encore + Citation Sovereign 680 Pilatus PC-12 F900EX EASy Falcon2000EX EASy Piper Meridian KingAir 350 - Post-2000 G150 G550 G450 Embraer Legacy 600 Hawker 900XP Learjet 45XR Citation CJ3 Citation CJ2+ 525A Challenger 300 Global XRS Phenom 100 Citation Mustang 510 Global 5000 F50EX Citation XLS F900EX Citation Encore Citation CJ2 Hawker 850XP KingAir 350 - Pre-2001 KingAir B200 - Post-2000 Citation Excel 560XL Learjet 60XR Citation CJ1+

3.8% 5.7% 9.9% 10.3% 11.0% 13.7% 14.4% 17.0% 17.1% 17.3% 17.4% 20.2% 20.3% 20.8% 20.9% 21.4% 23.2% 23.7% 24.6% 25.0% 25.2% 25.6% 26.5% 27.2% 28.0% 28.1% 28.8% 29.0% 29.5% 29.6% 29.7% 29.8% 31.3% 31.6% 33.9% 35.2% 36.6%

HIGH RISK AIRCRAFT MODEL ETP RATIO Premier 1A Citation Bravo GV Hawker 400XP F900B CL-604 KingAir B200 - Pre-2001 G200 KingAir 300 Hawker Beechjet 400A Piaggio P180 II F900 Learjet 45 w/APU F2000 Learjet 45 Citation V Ultra GIV-SP Hawker 800XP Citation V 560 Piaggio P180 Premier 1 Global Express Citation X (MSG3) GIV-SP (MSG3) Hawker 1000A Citation ISP F50 KingAir C90 Citation VI Learjet 60 Citation II CL-601-3R G100 Hawker Beechjet 400 GIV Learjet 35A Hawker 800A Learjet 31 CL-601-3A Learjet 55 CL-601-1A

40.6% 41.8% 42.2% 45.6% 45.8% 45.9% 46.0% 46.6% 47.0% 49.4% 50.7% 51.7% 60.0% 60.6% 61.8% 62.9% 66.4% 69.0% 73.6% 77.2% 77.6% 79.8% 80.9% 81.6% 91.3% 92.0% 95.3% 107.4% 108.6% 108.7% 113.4% 135.0% 137.2% 141.4% 145.1% 149.8% 153.3% 154.3% 180.6% 214.8% 241.1%

Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of December 31 2018 Source: JETNET (www.jetnet.com) Asset Insight, LLC (www.assetinsight.com)

www.AVBUYER.com

Elliott Jets February.qxp_Layout 1 21/01/2019 12:01 Page 1

MarketIndicators FEB19.qxp_Layout 1 21/01/2019 14:21 Page 7

MARKET INDICATORS

Large Jets Ask Price vs. Maintenance Exposure *

Asset Quality Rating

$ Millions

Overall asset quality for the inventory fleet decreased a bit due to higher quality assets transacting. Still, both Quality Rating and Maintenance Exposure remained better than the 12-month average, giving both buyers and sellers the opportunity to structure transactions offering good value.

Large Jets:

Inventory decreased by 10 units of mostly lower asset quality aircraft, resulting in the highest (best) Quality Rating for the year along with the lowest Maintenance Exposure figure over the past four months. Ask Price decreased 2%, but the group still posted a strong YoY increase. With an ETP Ratio at its lowest figure since April, buyers can still find good deals, while sellers can secure some good values in return.

Dec-18

Nov-18

Oct-18

Sep-18

5.200

Aug-18

$3.10

Jul-18

5.300

Jan-18

$3.20

Jun-18

5.400

May-18

$11.9

$3.30

Apr-18

$3.40

Dec-18

Oct-18

Sep-18

Jul-18

Aug-18

Jun-18

May-18

Apr-18

Mar-18

Jan-18

$10.5

Feb-18

$11.5

$3.45

Nov-18

$12.5

5.485

5.500

Mar-18

$3.50

Feb-18

$13.5

Scale -2.500 to 10.000

Medium Jets:

Our tracked fleet’s inventory decreased by 26 units while Ask Price remained steady. Asset Quality fell 0.4% due to higher quality assets trading last month, but the fleet still improved 1.4% over the past quarter. The real problem for sellers in 2018 was the 14.6% decrease in Ask Prices, even though they remained steady during the past month and lost less than one percent during Q4. With Maintenance Exposure registering higher (worse) than average, the group’s ETP Ratio has also taken a pounding, increasing (worsening) nearly 20% since last December. This group’s marketability indicators are simply not creating a transaction-friendly environment.

Medium Jets Ask Price vs. Maintenance Exposure *

Asset Quality Rating

$ Millions

24 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Dec-18

Oct-18

Sep-18

Aug-18

Jul-18

5.000 Jun-18

$1.05

5.100

May-18

Dec-18

Nov-18

Oct-18

Sep-18

Jul-18

Aug-18

Jun-18

May-18

Apr-18

Mar-18

Feb-18

$2.44 Jan-18

$2.30

$1.10

Apr-18

$1.15

$2.50

5.200

Mar-18

$1.20

$2.70

5.232

$1.25

Feb-18

$1.23

$2.90

5.300

Nov-18

$1.30

Jan-18

$3.10

Scale -2.500 to 10.000

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MarketIndicators FEB19.qxp_Layout 1 21/01/2019 14:21 Page 8

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

$0.85 5.500

Small Jets:

The fleet for sale decreased by 30 units in December. With primarily higher quality assets changing ownership, both asset quality and Maintenance Exposure worsened for the month and the quarter. The average Ask Price decreased 2% in December, but still improved 4.4% for the quarter and nearly 1% since December 2017. The good news lies in the group’s marketability, as its ETP Ratio improved from 80% last December to 66.4% in December 2018. Sellers can only hope that trend continues into the new year. Asset Insight analytics (www.assetinsight.com) Turboprops: Inventory decreased by five units in December Asset Insight analytics (www.assetinsight.com)

erasing November’s equal unit increase. The fleet

Dec-18

Nov-18

Oct-18

Sep-18

Aug-18

Jul-18

5.100

Jun-18

$0.65

5.300

May-18

Dec-18

Oct-18

Sep-18

Aug-18

Jul-18

Jun-18

May-18

Apr-18

Mar-18

Jan-18

Feb-18

Nov-18

$0.74

$1.70

5.358

Apr-18

$0.75

Mar-18

$1.80

Feb-18

$1.79

Jan-18

$1.90

$1.60

Scale -2.500 to 10.000

mix change reduced the number of upcoming maintenance events, but those events will cost more to complete, as Maintenance Exposure increased (worsened) 1.5% in December and 3.6% during Q4. As suspected, November’s Ask Price increase could not be supported with the figure dropping 1.1% in December, although pricing did increase 1.7% during Q4. The ETP Ratio is not stellar, but it has consistently been the best among the four groups, and we anticipate demand and marketability to remain strong for Turboprops as we enter 2019. MI www.assetinsight.com ❙ 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

Turboprops Ask Price vs. Maintenance Exposure *

Asset Quality Rating

$ Millions

$1.55

$1.50

Scale -2.500 to 10.000

$0.65 $0.60

$0.59

$1.45

$0.55

5.200

5.111

5.100 5.000

4.900

Dec-18

Nov-18

Oct-18

Sep-18

Aug-18

Jul-18

Jun-18

May-18

Apr-18

Mar-18

4.700 Feb-18

$0.50

Jan-18

Dec-18

Oct-18

Nov-18

Sep-18

Aug-18

Jul-18

Jun-18

May-18

Apr-18

Mar-18

Jan-18

$1.40

Feb-18

4.800

Ask Price Source: JETNET Asset Insight Analytics * The accrued cost of future scheduled maintenance

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AVBUYER MAGAZINE Vol 23 Issue 2 2019

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BUYING & SELLING AIRCRAFT

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Buying a Jet in 2019? Questions to Ask Your Broker With some markets swinging into sellers’ territory and with avionics mandates looming imminently, Jet Tolbert offers thoughts on what a business jet buyer should be asking their broker in 2019. here are some important questions all aircraft buyers should seek clarification on prior to buying a business jet or turboprop in 2019. With upcoming aviation mandates, some of the key questions buyers should ask their brokers center on ADS-B compliance. Following are the top three questions I believe will help those who are shopping the market for a business jet to avoid making a purchase they’ll end up regretting…

1) Does the aircraft have ADS-B? If not, has the seller arranged a slot for an ADS-B installation? 32 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Buyers of business aircraft need to know about the details of a prospective aircraft’s compliance, not just whether the airplane conforms to the ADS-B mandate. It’s important for the buyer to be as wellinformed as possible, asking their broker first. With the deadline for ADS-B compliance less than a year away and many aircraft yet to be upgraded, one of the big questions within the industry is how many airplanes will be grounded when the deadline passes on January 1, 2020. Every buyer shopping today’s used jet and turboprop marketplace needs to be thoroughly aware of the circumstances surrounding an aircraft of interest with respect to its ADS-B compliance. If it does not already have ADS-B installed, the buyer

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Buying&Selling 1 Feb19.qxp_Finance 22/01/2019 15:53 Page 2

BUYING & SELLING AIRCRAFT

“Buyers may find that sellers are opting for the cheapest solution, covering the necessary bases to promote their aircraft as being compliant with the ADS-B mandate.” should at the very least discount the aircraft’s value, based on the cost of the most feasible and userfriendly ADS-B solution for that make/model. Moreover, buyers should seek to arrange for the necessary upgrade to be accomplished at the time of purchase. If the aircraft of interest does have ADS-B installed, it’s worth finding out whether the upgrade was accomplished using an aftermarket installation with add-on or ‘stand-alone’ equipment in order to meet the requirement? Alternatively, it may have been accomplished with a factory installation, utilizing upgrades to the factory-equipped avionics suite and providing a baseline upgrade for future enhancements and updates. Though not always the case, this option may be costlier to perform upfront, but may well prove favorable in the long-term. Buyers may find that sellers are opting for the cheapest solution, covering the necessary bases to promote their aircraft as being compliant with the ADS-B mandate. It is the responsibility of the buyer to work with their broker to establish the facts. 34 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

2) Do different ADS-B solutions really matter? On many jet models, the OEM’s ADS-B solution is accomplished by sending the factory installed avionics suite back to the manufacturer for hardware and software updates. This can sometimes be more complex (and thus expensive) than the solutions offered by non-OEM providers that are usually achieved by installing additional equipment that does not interface with the current avionics suite (hence the term ‘stand-alone’ solution). Often in older Light and Mid-size Jets the standalone option does not limit possible future upgrades. However, many newer or Large Jets have a more complex issue for buyers to consider. These aircraft tend to have more integrated avionics suites. Moreover, there may also be multiple mandates to consider beyond ADS-B, including FANS 1/1A for Atlantic crossings and CPDLC for European flights. In these more complex applications, while the www.AVBUYER.com

Buying&Selling 1 Feb19.qxp_Finance 22/01/2019 15:54 Page 3

AVBUYER.com

use of a stand-alone upgrade can be a costeffective solution, they can also make the aircraft’s operations slightly more complicated as pilots will be required to enter the same information into more than one place to ensure that all navigation systems are following the same instructions. Additionally, because stand-alone installs don’t update the existing software you may find aircraft that advertise ADS-B compliance but have outdated and soon-to-be unsupported avionics systems if they are not soon upgraded. So those who are in the market to buy an older aircraft should do their homework with their brokers.

3. What does the market say? It is worth buyers checking the market to see whether aircraft with both types of upgrades are selling, or whether the aircraft with a particular ADSB or FANS 1/1A upgrade is lingering on the market. A well-connected broker should offer some transaction history of aircraft with the different

Make More Informed Buying Decisions with AvBuyer www.AVBUYER.com

types of upgrades, highlighting which might be less desirable in the current marketplace. This information will give you some good leverage when you’re negotiating a price with the seller.

In Summary

While avionics mandates are a very hot topic today, the above information should highlight that it’s important to work with a broker who has expertise in the aircraft types you are interested to buy. There are other important questions to ask, though, including some of the less obvious items like potential Airworthiness Directives (AD) and Service Bulletins (SB) that may be coming down the line. Choosing the right buyer’s agent will help you stay ahead of the curve with all aspects of market and technical considerations. After all, an established brokerage will want to be there to assist you with the future sale of today’s acquisition...❙

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.

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2015 GULFSTREAM G450

2001 BOMBARDIER GLOBAL EXPRESS

SERIAL NUMBER 4321

SERIAL NUMBER 9049 – REGISTRATION M-MDBD

AIRFRAME ON GULFSTREAM PLANEPARTS, ENGINES ON ROLLS ROYCE CORPORATE CARE, APU ON HONEYWELL MSP, HONEYWELL HD-710 HIGH SPEED DATA, PLANEVIEW ENHANCED NAVIGATION PACKAGE, SYNTHETIC VISION 2.0 & EVS, ADS-B OUT, RUNWAY AWARENESS ADVISORY SYSTEM (RAAS), DIGITAL FLIGHT DATA RECORDER, HIGH SPEED DATA SYSTEM, ENHANCED SOUND PROOFING

AIRFRAME ON SMART PARTS PLUS, ENGINES ON ROLLS ROYCE CORPORATE CARE, APU ON HONEYWELL MSP, FAA CERTIFIED, BATCH 3 COMPLIANT, FANS-1A, CPDLC, R-NAV, 14 PASSENGER CONFIGURATION (9 PASSENGERS CERTIFIED FOR TAKE-OFF AND LANDING)

2015 BOMBARDIER CHALLENGER 350

2013 BOMBARDIER CHALLENGER 300

SERIAL NUMBER 20583 – REGISTRATION D-BHGN

SERIAL NUMBER 20424

AIRFRAME ON SMART PARTS PREFERRED, ENGINES ON MSP GOLD, APU ON MSP GOLD, EU-OPS CERTIFIED, ONE OWNER SINCE NEW, NO DAMAGE HISTORY, FRESH 36 MONTH INSPECTION (NOVEMBER 2018), PARTIAL EXTERIOR REPAINT (NOVEMBER 2018)

IN SERVICE OCTOBER 2013, 100% JSSI COVERAGE ON ENGINES AND APU, EU-OPS 1 COMPLIANT, DUAL IRS, AIRSHOW 4000 SYSTEM WITH WORLDWIDE PACKAGE, DESIRABLE DUAL DOUBLE CLUB SEATING, FORWARD CABIN POCKET DOOR, VIP PCU GALLEY CONTROL, DUAL LCD 20 INCH CABIN DISPLAYS, ONE OF THE NEWEST CL300’S ON THE MARKET

2007 DASSAULT FALCON 900EX EASy

2003 DASSAULT FALCON 2000EX

SERIAL NUMBER 190 – REGISTRATION N990FL

SERIAL NUMBER 11 – REGISTRATION HB-JEF

DASSAULT INSTALLED API BLENDED WINGLETS, IMPROVED 4,750 NM RANGE, ENGINES & APU ON MSP GOLD, AVIONICS ON HAPP GOLD, DRY BAY MOD COMPLETED, EASy II INSTALLATION 3RD CERT, PARTIAL INTERIOR REFURB 2015, EXTERIOR STRIPES & VERTICAL STABILISER PAINTED 2015, NO DAMAGE HISTORY, 14 PAX INTERIOR, HONEYWELL JETMAP II WITH PASSENGER BRIEFING SYSTEM / APPLE TV / DUAL DVD, ATG 4000 WITH GOGO BIZ WIFI WITH TEXT & TALK ACTIVATED, IRIDIUM AIRCELL AXXESS II SATCOM PHONES, FANS-1/A, CPDLC, ADS-B OUT, TCAS 7.1, HEAD-UP DISPLAY, SYNTHETIC VISION SYSTEM

FRESH 1A/1A+, 2A/2A+, 3A/4A+, Z & ENGINE INSPECTIONS, FRESH SWISS CERTIFICATE OF AIRWORTHINESS & CERTIFICATE OF REGISTRATION, DESIRABLE 10 SEAT CONFIGURATION, ONLY TWO OWNERS SINCE NEW, AIRCRAFT ON CAMP, ENGINES ON ESP, APU ON MSP, NEW PAINT IN MARCH 2013, CARPET REPLACEMENT IN DECEMBER 2015, RVSM, EASA & EU-OPS 1 CERTIFIED, ADS-B OUT

THE WORLD’S FIRST AND ONLY STREET LEVEL CORPORATE AVIATION SHOWROOM.

EXCLUSIVELY REPRESENTED BY

2013 BOEING BUSINESS JET

1998 BOEING BUSINESS JET

SERIAL NUMBER 38408 – REGISTRATION VP-CZW

SERIAL NUMBER 29273

DELIVERED IN 2015, VVIP CABIN COMPLETION (JET AVIATION AG), LOWER CABIN ALTITUDE (LCA) SYSTEM, UPGRADED COLLINS MULTISCAN WEATHER RADAR, ROCKWELL COLLINS VENUE CABIN MANAGEMENT SYSTEM (CMS), L3 DIGITAL FLIGHT DATA RECORDER (DFDR), VIASAT KU-BAND INTERNET, HONEYWELL MULTI-CHANNEL SATCOM SYSTEM, ROCKWELL COLLINS AIRSHOW 4000, AVS OUTSIDE CAMERA SYSTEM, COLLINS TCAS II CHANGE 7.1, 8 TANK AUXILIARY FUEL SYSTEM

NEW INTERIOR REFURB 2017, NEW EXTERIOR 2017, FANS-1/A, TCAS 7.1, ADS-B, LOW CABIN ALTITUDE UPGRADE, HEAD-UP DISPLAY (HUD), APPLE TV, SATCOM SBB UPGRADE – WIFI HD-710, IFE/CMS UPGRADE, 9 PATS TANKS – LONGEST RANGE BBJ AVAILABLE ON THE MARKET

2008 AIRBUS ACJ318

2010 EMBRAER LINEAGE 1000

SERIAL NUMBER 3530 – REGISTRATION VP-CKH

SERIAL NUMBER 19000140 – REGISTRATION N588AH

EXTENDED RANGE VARIANT, PRIVATELY OPERATED, INTERIOR COMPLETION CARRIED OUT BY LUFTHANSA TECHNIK, EU-OPS 1 CERTIFIED

ENGINES ON GE ONPOINT, NO DAMAGE HISTORY, ADS-B UPGRADED, FRESH 96 MONTH INSPECTION, WILL DELIVER WITH; CREW TRAINING, EASA / ISLE OF MAN CERTIFICATION, AIRFRAME ON EMBRAER EXECUTIVE CARE STANDARD, POST DELIVERY; FANS-1/A & CPDLC UPGRADE WHEN AVAILABLE (SB UNDER DEVELOPMENT), NEW PAINT TO BUYER’S SPECIFICATION, NEW LIMITED SOFT GOODS TO BUYER’S SPECIFICATION

FILE PHOTO

2018 EMBRAER LEGACY 500

1997 GULFSTREAM G-V

SERIAL NUMBER 55000048

SERIAL NUMBER 506 – REGISTRATION M-FISH

THE ONLY MIDSIZE BUSINESS JET WITH FULL FLY-BY-WIRE, TWO PILOT TRAINING SLOTS INCLUDED, EASA / EU-OPS 1 CERTIFIED, ADS-B OUT, CPDLC OVER ATN (EASA LINK2000+) – CONTROLLER-PILOT DATA-LINK, STEEP APPROACH CAPABILITY, HIGH ALTITUDE LANDING AND TAKEOFF OPERATION, SWIFT BROADBAND HIGH SPEED DATA, HEPA FILTRATION SYSTEM

LOW TIME, ENGINES ON ROLLS ROYCE CORPORATE CARE, AVIONICS ON HONEYWELL AVIONICS PROTECTION PLAN, MECHANICAL PARTS ON HONEYWELL MECHANICAL PROTECTION PLAN, NO DAMAGE HISTORY, OPERATED PRIVATELY – NOT FOR CHARTER, FAA COMPLIANT – PART 91, FORWARD GALLEY & CREW REST, NEW EXTERIOR PAINT & INTERIOR IN 2015, SPACIOUS 8+1 PASSENGER CONFIGURATION FEATURING AFT PRIVATE MASTER BEDROOM WITH FIXED FULL SIZED BED

25 Park Lane, London W1K 1RA EU +44 (0) 845 521 5555 | US +1 917 414 1995 sales@thejetbusiness.com | www.thejetbusiness.com

O'GaraJets February.qxp_Layout 1 23/01/2019 09:46 Page 1

O'GaraJets February.qxp_Layout 1 23/01/2019 09:46 Page 2

Buying&Selling 2 Feb19.qxp_Finance 21/01/2019 14:33 Page 1

BUYING & SELLING AIRCRAFT

How to Choose the Right Corporate Helicopter

40 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

www.AVBUYER.com

Buying&Selling 2 Feb19.qxp_Finance 21/01/2019 14:34 Page 2

AVBUYER.com Michael Roberts began his aviation career as an air traffic controller. He started what would become JETVEND aircraft brokerage in 2007 and today sells both turbine helicopters and fixed-wing jets, while additionally serving as the buyer for a helicopter leasing company. Mr. Roberts can be reached at michael@jets.aero

What are the key considerations when buying a corporate helicopter? Aircraft broker Michael Roberts offers insights and tips to help ensure the rotorcraft you buy is the best fit for your mission needs… he corporate helicopter market could certainly be larger than it currently is. There are companies and individuals whose time and travel needs could be met by helicopters, but who are not currently utilizing rotorcraft. Those choosing the right corporate helicopter, however, enjoy a truly competitive advantage and enhanced travel safety. The best helicopter is ultimately the one which you will use. It may sound overly simple, but this idea will ultimately assist those seeking to buy a helicopter in their selection of the right make and model, down to the selection of which serial number to purchase. In many cases, there will be several different models which could work almost equally well for corporate missions, and in these cases other factors come in to the selection process.

Mission Suitability

The first question is ‘mission suitability’. To determine the mission suitability of a model, buyers need to create a list of role-suitable helicopter models they’re considering. For example, are you an organization which doesn’t allow its executives to travel in singleengine aircraft? Does the corporation have policies ruling out operations over certain areas or restricting night operations? Irrespective of the merits of many turbine helicopters, if company policy prohibits single-engine aircraft or certain types of operations, your selection of models will be reduced to twin-engine helicopters, or those performing within the confines of that policy. After determining which of the remaining models meet the published range and payload you require, it’s worth asking pilots rated in the models you’re considering to run flight plans over an anticipated route you plan to fly on a typically hot summer’s day, with the typical number of passengers you would anticipate transporting. Pay attention to the time of flight and fuel used as part of your consideration. www.AVBUYER.com

It pays to repeat this process as many times as necessary to confirm that the helicopter make/model is suitable for your mission need. Having visited helicopter operators in over 40 countries, you’d be surprised at the number of times I’ve heard of somebody buying something that ‘can't take off’.

Parts, Mechanics and Pilot Availability

The next major factor in choosing your model is the availability of parts, rated mechanics and the pilots you plan to use. Do not assume a helicopter does or doesn’t have parts available based on model year alone. All the major OEMs work diligently to have worldwide availability of parts, but things do happen, and supplier issues or a sudden demand for a part can result in a (mostly temporary) shortage. The best way to obtain this kind of data is to visit the maintenance facility you’re consider using. While you’re there, ask if they are consistently able to complete work on time, keeping downtime to a minimum. After all, when things go wrong it is not unheard of for a helicopter to be grounded for a six-month period. Be diligent and current in your research. While it is tempting to simply list and recommend certain models, the models that work best for your needs absolutely depend on the location of the intended base of your operations. Do you have pilot(s) on staff who are already trained in the model you’re considering? Or do you intend to send them to flight school? Are you planning to use local contract pilots on an asneeded basis? You will need to know who’s going to fly your machine. Many clients have long term professional pilots on their staff whose requirements are a critical part of their selection process.

What’s Your Budget?

Narrowing down the right tool for the job will reveal the price it will take to acquire one of the



AVBUYER MAGAZINE Vol 23 Issue 2

Buying&Selling 2 Feb19.qxp_Finance 21/01/2019 14:34 Page 3

BUYING & SELLING AIRCRAFT

AVBUYER.com

“You should purchase your corporate helicopter with the expectation that your use could grow.” helicopters on your list. While many people begin with a price range and select helicopters that fit that range, it’s worth doing things the other way around first to see if the process reveals another model(s). Remember, the best helicopter is the one that you will use. A bargain-basement machine that’s stuck in the hangar for any reason is no bargain at all!

Personal Considerations

Don't forget the personal and non-financial considerations. Comfort and appearance are driving factors in many areas of business and should not be overlooked here. If you find the right machine with the wrong colors, ask about seat cover changes, stripes or paint jobs as a part of your overall consideration. On the flip side, don't buy the wrong helicopter because it looks great… Awesomelooking ‘hangar queens’ will do nothing to meet your mission need if they don’t fit the bill, regardless of how impressive they look in the hangar.

Communication is Key…

Communicate to your team, pilot, broker and potential service providers special considerations which may have an impact on your choice. For example: 42 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

• • • • •

Will the helicopter be shipped or flown to another region or country? What are the seasonal changes like in the places you plan to operate? Will it be based on a yacht, at a private residence, private airfield, at a standard FBO, or at a private hangar? Do you need to rent or charter? Will the helicopter fly only as corporate transportation, or for other uses too?

Thinking Ahead…

You should purchase your corporate helicopter with the expectation that your use could grow. With that in mind, what are the possibilities that could open-up? Will you show more sites to potential business partners? Will you seek to impress guests with aerial tours of your city? Will you spend more time with your family? Will you make more frequent visits to a client or facility? Will your overall use of fixed-wing aircraft reduce as a result of your newly purchased helicopter? Many of the answers to these questions about growing need will help you select the corporate helicopter that is right, not only for today but for the next several years. Next time, we’ll discuss the selection of a specific helicopter serial number, the inspection and closing process. Stay tuned… More information from www.jets.aero ❙ www.AVBUYER.com

Freestream February.qxp 23/01/2019 14:40 Page 1

2009 Gulfstream G450

2007 Bombardier Global XRS S/N: 9185 Airframe Total Time: 5054.0 hrs Aircraft Total Cycles: 2121 cycles

Airframe Total Time: 1747 hrs Aircraft Total Cycles: 835 cycles

2013 Gulfstream G550 Airframe Total Time: 2667.6 hrs Aircraft Total Cycles: 939 cycles

S/N: 5406

2001 Gulfstream V

S/N: 635 Airframe Total Time: 7190.4 hrs Aircraft Total Cycles: 3501 cycles FREESTREAM AIRCRAFT LIMITED

London +44 207 584 3800 sales@freestream.com

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

Hamilton, Bermuda +441 505 1062 sales@freestreambermuda.bm

2012 Gulfstream G550 S/N: 5391 Airframe Total Time: 2971.3 hrs Aircraft Total Cycles: 935 cycles

2011 Gulfstream G550

Airframe Total Time: 1540 hrs Aircraft Total Cycles: 717 cycles. EASA Compliant FREESTREAM AIRCRAFT (H.K.) LIMITED

Hong Kong +852 2724 5620 info@freestreamhongkong.com

FREESTREAM AIRCRAFT USA LIMITED

New York +1 201 365 6080 aircraftsales@freestream.com

Project1_Layout 1 28/01/2019 09:46 Page 1

+41 22 787 08 77 contact@sparfell-partners.com www.sparfell-partners.com

AIRBUS A380-800

BOEING 747-8 BBJ

Two A380-800s, Ready for Head-of-State VVIP Conversion

Ready for VVIP Configuration

Make Offer

2013 OFF-MARKET AIRBUS ACJ319

2010 GULFSTREAM G550 S/N 5303

1’475 TT, UK Design & Swiss Completion, 19 Pax.

2’257 TT, Engines on RRCC, New Paint in 2017, 16 Pax.

Exclusively Mandated

Make Offer

2012 LINEAGE 1000 S/N 19000317

2013 LEGACY 650 S/N 1450-1161

1’802 TT, Engines on GE Onpoint Program, WiFI, 19 Pax.

1’386 TT, CAAC, Engines on Program, CPDLC, WiFi, 13 Pax.

Make Offer

Project1_Layout 1 28/01/2019 09:47 Page 1

2015 LEGACY 600 S/N 1216

2007 OFF-MARKET LEGACY 600

3’838 TT, JSSI-Platinum, CPDLC, Wi-Fi, 13 Passengers

Newly Refurbished, New Paint, Wi-Fi, Engines on RRCC

Make Offer

Exclusively Mandated

2003 FALCON 50EX S/N 334

2001 CESSNA CITATION CJ2 S/N 17

3’801 TT, MNPS, RNP 5, RNP 10, 8-RNAV, JSSI, 9 Pax.

6’600 TT, RVSM, EASA, Fresh DOC 10 & ENG OVH, 6 (+ 1) Pax.

Deal Pending

1993 KING AIR B200 S/N BB-1462

2010 AW109S GRAND S/N 22162

3’917 TT, ENG TT 1’213, Wi-Fi, Undergone Heavy Maintenance

1’445 TT, Fresh Annual, 200, 400 & 800 Hrs Insp., 5 + 1 Pax.

Make Offer

2008 AW109E POWER “ELITE” S/N 11728

2008 AW139 S/N 31116

228 TT, EASA, JSSI, 6 + 1 Passengers

4’900 TT, EASA, AMOS, 11 + 2 Passengers

Make Offer

Finance Advertorial.qxp_Finance 22/01/2019 14:11 Page 1

Sponsored Content

Financing Your Business Aircraft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&##'$ $'$ & - -"$"' "&'##& - - ( ) )( ( ) 46 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

www.AVBUYER.com

Finance Advertorial.qxp_Finance 22/01/2019 14:12 Page 2

0769 0715 69 ,075)8-9 219 6089 7#72/7%2/26(9 4+9 )44-9 +2575,8 683.1"9 7,,43-25)9 649 3.45$9 4*9 )869 6089 -87/19 +34.9 608 18,45-73(9 .73 86 9)*(1 9(4*9-45 69)8696089-87/19+34.9608 )*(19'049.7 896089%*125811$

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AVBUYER MAGAZINE Vol 23 Issue 2 2019

Ownership.qxp_Finance 22/01/2019 15:46 Page 1

OWNERSHIP

AVBUYER.com

Where is the Sweet-Spot for a Jet’s Scrap Value? Following on from his December article, ‘How to Understand the Scrap Value of a Jet’, aircraft appraisals expert Jeremy Cox continues his discussion. Is there a sweet-spot to part an aircraft out earlier than is normally considered the last-ditch operation?

ll business jets have cycle-limited components. Few have an actual airframe limit imposed upon them. With fatigue testing, OEMs predict that few (if any) of their aircraft will accumulate enough flights/cycles prior to retirement to reach a point where structural damage occurs. As an example, Dassault has the Supplemental Structural Inspection Program (SSIP) for the Falcon 20 series, requiring an aircraft reaching either 20,000 flights or 30,000 hours to undergo an in48 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

depth structural Non-Destructive Testing (NDT) program prior to it being allowed to continue in service. To my knowledge, excepting a handful of freighter-converted Falcon 20s no corporate-use Falcon 20 has triggered the need for an SSIP. In fact, the average cycles for the entire worldwide fleet of business jets is currently below 5,000. So, if physical deterioration isn’t a key factor in an aircraft reaching the end of its useful life, what is?



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Table A

The Three Forms of Depreciation

When operating as a certified aircraft appraiser, I am required to consider three forms of depreciation, including: • • •

AIRCRAFT Hawker Series (RR Viper) Hawker Series (Fan) Challengers 300 Series Challengers 600 Series Global Series Learjet Series (CJ610) Learjet 30 Series Learjet 40 Series Learjet 50 Series Learjet 60 Series Learjet 70 Series Citation 500 Series (JT15) Citation 500 Series (PW530/540 Series) Citation Mustang Straight CJ (525) Citation 525 Series (1,2,3,4 and +) Citation 650 Series Citation 680 Series Citation 750 Series Falcon 10/100 Falcon 20 Series (CF700) Falcon 20-5 Falcon 200 Falcon 2000 (CFE Classic) Falcon 2000 Series (P&WC) Falcon 50 Series (-3, -4) Falcon 50 Series (-40, EX) Falcon 900 Series (Non EASy) Falcon 900 Series (EASy) Falcon 7X Gulfstream Series (RR Spey) Gulfstream GIV & GIVSP Gulfstream GV Astra Series (Non ‘G’ Designation)

Physical Deterioration Functional Obsolescence Economic Obsolescence.

The American Society of Appraisers manual ‘Valuing Machinery and Equipment’ (third edition) provides the following definitions… Physical Deterioration is a form of depreciation where loss in value or usefulness of a property is due to the using up or expiration of its useful life caused by wear and tear, deterioration, exposure to various elements, physical stresses, and similar factors. Functional Obsolescence is a form of depreciation in which the loss in value or usefulness of a property is caused by inefficiencies or inadequacies of the property itself, when compared to a more efficient or less costly replacement property that new technology has developed. Symptoms suggesting the presence of functional obsolescence are excess operating cost, excess construction (excess capital cost), over-capacity, inadequacy, lack of utility, or similar conditions. Economic Obsolescence (sometimes called ‘external obsolescence’) is a form of depreciation where the loss in value of a property is caused by factors external to the property. These may include such things as the economics of the industry; availability of financing; loss of material and/or labor sources; passage of new legislation; changes in ordinances; increased cost of raw materials, labor, or utilities (without an offsetting increase in product price); reduced demand for the product; increased competition; inflation or high interest rates; or similar factors. It’s rare for a business jet to be significantly depreciated due to Physical Deterioration, except in the case of a non-corrosion related structural damage event. Normally either Functional Obsolescence (i.e. Dispatch Reliability) or Economic Obsolescence (RVSM, Stage-III, ADS-B, etc.) are the big factors that may significantly depreciate an older business jet. It is important to remember that depreciation as it is defined in appraisal practice, is different from depreciation as it is defined in accounting practice where: “The amount of accounting depreciation 50 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

% DIMINISHED

AGE (OLDEST)

85.0 37.0 0.16 15.0 2.0 56.0 26.0 4.0 22.0 5.0 0.0 28.0 4.0 0.0 4.0 1.0 8.0 0.0 1.0 36.0 76.0 31.0 21.0 2.0 1.0 18.0 1.0 9.0 2.0 2.0 46.0 10.0 4.0 9.0

51 37 11 25 12 47 39 18 34 20 6 38 17 13 26 13 31 9 16 41 50 50 36 24 11 41 31 28 16 14 48 32 24 28

2 >1982 >1997 >2023 >2001 >2016 >1984 >1994 >2023 >2001 >2013 >2033 >1992 >2017 >2026 >2013 >2020 >2002 >2024 >2016 >1994 >1985 >1985 >2003 >2015 >2023 >1998 >2017 >2006 >2023 >2025 >1987 >2006 >2015 >2006

taken over the life of an asset cannot exceed its cost. Once the net book value reaches zero, no more depreciation is taken. However, the ‘fully depreciated’ asset may remain in service and still have a value for valuation purposes.” To date, the average year of manufacture for the entire segment of business aircraft that have been retired, withdrawn from service, or written-off is 1975 (44 years old). That average is from ~7,000 business aircraft (~4,000 of which are jets). Aside from the tragedies of accidental destruction; reasons for the retirement of these aircraft may have included: • • • • •

Excessive Fuel Consumption Inability to Comply with Noise Requirements Lack of Available Service and/or Support Lack of Available Parts Technical Mandates and/or Regulations

Part-Out Value Analysis

When an owner contemplates that their business jet might be nearing the end of its useful life, a www.AVBUYER.com

Ownership.qxp_Finance 22/01/2019 15:48 Page 3

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 jer emy@vref.com

Chart A - Hypothetical 1995 GV EOLA Value Compared To Residual Value

$45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 1

10 11 12 13 14 15 16 17 18 19 20 21

EOLA Value ‘Benefit to Cost’ analysis, accounting for the timevalue of money must be performed. (This analysis might be eliminated by a damage event.) While there are too many unique variables specific to the aircraft owner that must be considered when a Benefit to Cost analysis is performed, and an example is beyond the scope of this article, I have studied a plethora of ‘Residual Value’ tables, the demography of the retired business jet fleet, damage diminution standards and other factors with the aim of providing an opinion on the value of an End of Life Aircraft (EOLA), from new delivery to scrap, as compared to the expected Residual Value over a 20-year period. First, we must look at an overview of some of the models that constitute the retired fleet. Table A shows the percentage of diminution (number of aircraft built, versus number of aircraft still active), current age of the oldest active aircraft of each series, as well as the projected (in some cases ‘surpassed’) 20-year milestone of the oldest active aircraft of each series. www.AVBUYER.com

1995 GV Value In Summary

Through analysis, the following conclusions can be drawn in relation to where the ‘sweet-spot’ to part-out an End of Life Aircraft could lie: •

The highest part-out values (POV) are found when fleet diminution is less than 10%.

•

POV is higher than fair market value (FMV) from 0% of fleet diminution (FD) to just below 4% (POV equals FMV at 4%).

•

Then POV is higher than FMV again until 8% is reached (POV equals FMV again at 8%).

•

At the 10% FD boundary, both values start dropping at an accelerated rate.

•

At 15% FD, both POV and FMV plummet.

For illustration, please refer to Chart A, providing the EOLA value of a 1995-model Gulfstream GV compared to its residual value. (The graph depicts a value diminution damage event occurring in Year 20.) T AVBUYER MAGAZINE Vol 23 Issue 2 2019

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Would a Recession Influence Jet Retirements? How would another recession impact the current business jet fleet? Mike Chase considers how fleet retirements might look, while reflecting on the fallout from the Great Recession of 2007-2009 in his latest >>JETNET KNOW MORE analysis… s much as we do not wish for another recession, we continue to want to learn more about how the pre-recession market compares to where we are now. Market downturns do precipitate an increase in aircraft retirements and storage as demand drops off. As a reference point for the ‘bad times’, the periods of the first Gulf War and recession (19901992), the Asian financial crisis (1997-1998), 9/11 and the second gulf war (2001-2003), and most recently the Great Recession (2007-2009) are all examples. Our focus in this article is on the aircraft fleet during the pre- and post-Great Recession period. Even during the Great Recession, which lasted 18 months per the US Bureau of Economic Analysis (BEA), the aircraft in-service fleet continued to increase. Production of new aircraft (as slow as it seemed) continued to outpace the retiring inventory. However, in both psychological and practical terms the Great Recession lasted for more th an a decade.

Following, we’ll outline the current trends for retired business aircraft, drawing some comparisons with pre-recession times.

Leading Causes for Retirement

The value of an aircraft depreciates over time while the cost to operate and maintain the aircraft increases. Eventually the aircraft depreciates to a point where it is worth less than the value of its parts, and the decision can be made to retire and begin dismantling the aircraft. Historically, according to JETNET, more than 60% of all retired business jets were parted out or damaged. By comparison, more than 80% of turbine helicopters were retired due to being ‘withdrawn from use’ and ‘written-off’ from accidents. Table A (below) presents the various categories of aircraft researched by JETNET. The average retired fleet percentage of all c ategories combined is 18.8%. Business jets have by far the lowest percentage of retired airframes at just 12.1% of the total fleet built.



Table A - Fleet Retirements by Type Total Fleet

In-Operation*

Retired

Fleet %

Jet Airliners

38,493

30,036

8,457

22.0%

Business Jets

25,103

22,069

3,034

12.1%

Business Turboprop

18,926

15,614

3,312

17.5%

Turboprop Airliners

9,525

7,783

1,742

18.3%

Piston Aircraf t (Partial)

7,140

5,951

1,189

16.7%

Business Jet Airliner

438

324

114

26.0%

Turbine Helicopters

27,814

22,444

5,370

19.3%

Piston Helicopters

13,230

10,013

3,217

24.3%

GRAND TOTAL

140,669

114,234

26,435

18.8%

Category Fixed Wing

Rotary

Source: JETNET (12/31/18); * Includes stored aircraft

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Table B - Business Jet Fleet Retirements (2004 - 2018)

As Of

Total Fleet

Aircraft In Operation

Aircraft Retired

% Retired

12/31/2018

25,103

22,069

3,034

12.1%

12/31/2017

24,286

21,572

2,714

11.2%

12/31/2016

23,671

21,140

2,531

10.7%

12/31/2015

22,911

20,572

2,339

10.2%

12/31/2014

22,165

20,010

2,155

9.7%

12/31/2013

21,496

19,478

2,018

9.4%

12/31/2012

20,790

18,897

1,893

9.1%

12/31/2011

20,162

18,405

1,757

8.7%

12/31/2010

19,512

17,872

1,640

8.4%

12/31/2009

18,679

17,118

1,561

8.4%

06/30/2009

18,200

16,682

1,518

8.3%

12/31/2008

17,710

16,240

1,470

8.3%

12/31/2007

16,472

15,073

1,399

8.5%

12/31/2006

15,421

14,104

1,317

8.5%

12/31/2005

14,594

13,369

1,225

8.4%

12/31/2004

13,918

12,795

1,123

8.1%

2018/2009

6,307

4,951

1,473

1 4 7 / y r. a v g

2007/2004

2,554

2,278

276

6 9 / y r. a v g

Source: JETNET (12/31/18); * Includes stored aircraft

A Note on Stored Aircraft

Aircraft that are parked (not flying) and have retained a registration number are considered stored. These aircraft may be returned to active operation. There are always some aircraft in storage. These are usually older, out-of-production aircraft, less efficient types, aircraft needing significant maintenance or refurbishment, or simply surplus to requirement. There are specific storage procedures that are required by airframe and engine manufacturers to preserve the residual value of these aircraft, including the drainage of all fuel and oil. Associated cost includes storage rental (hangared or not) and storage maintenance fees. The longer an aircraft remains in storage, the higher the probability it will be retired. After an aircraft is retired, many of its parts (engines, landing gears or avionics components) continue to be utilized on other aircraft. The fuselage, however, has little value and is considered scrap metal. At the end of December 2018, JETNET data showed over 1,700 aircraft/helicopters were in

58 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

storage. Commercial jet and turboprop airliners made up 91% of the â&#x20AC;&#x2DC;in-storageâ&#x20AC;&#x2122; fleet. Business jets and business turboprops, by comparison, made up 6% of the total stored fleet.

Business Jet Retirements 2004-2018

Record numbers of aircraft flooded the used market during the Great Recession, impacting aircraft values, and no doubt prompting the retirement of some of the oldest jets and turboprops in the aging fleet. Depicted in Table B (above), the total number of retired business jets increased over the past 15 years, from 1,123 to 3,034 (1,911 additional airframes as of the end of 2018). These retired business jets now represent 12.1% of the total fleet. The compounded average growth rate (CAGR) for retired business jets over the past 15 years is 7.4%. During this same 15-year period the total business jet fleet grew from 13,918 to 25,103 (+11,185 units). The CAGR is 4.3% over this 15year period. Thus, the ratio of business jets being added vs those retired is almost 6:1.

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Ownership 2.qxp_Finance 22/01/2019 14:37 Page 3

AVBUYER.com 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 market analytical features. Contact Mike via mike@avbuyer.com

Table C - Current Active BizJet Fleet / Fleet for Sale (by Age) New/Used Business Jets

Total Aircraft - All Years

Make/Model

Active Fleet

For Sale

% For Sale

All Jets (as of December 2018)

21,952

1,974

9.0%

P e r c e n t a g e o f To t a l

100%

All Jets (as of December 2018)

7,099

390

P e r c e n t a g e o f To t a l

32.3%

19.8%

All Jets (as of December 2018)

7,841

662

P e r c e n t a g e o f To t a l

35.7%

33.5%

All Jets (as of December 2 0 1 8 )

2,935

383

Pe rce n ta ge of Tota l

13.4%

19.4%

All Jets (as of December 2018)

4,077

539

P e r c e n t a g e o f To t a l

18.6%

27.3%

0-10 Years - 2018 to 2009 5.5%

11-20 Years - 2008 to 1999 8.4%

21-30 Years - 1998 to 1989 13.0%

30+ Years - 1988 and Before 13.2%

Source: JETNET

Fleet Retirement by Year

When we look closely at the overall aircraft fleet retirement numbers since 2004 some interesting trends emerge. The peak for aircraft retirements came in 2013 when 2,625 aircraft were retired. The recession years (2008-2009) and the two years immediately following saw a steady level of retirements annually. More recently, 2015 through 2018 has brought a steady growth in retirement levels. In 2018, commercial airliners (665), business jets (399), turbine helicopters (353) and piston helicopters (232) led the way for aircraft retirements.

Current Active BizJet Fleet/Fleet for Sale (by Age)

As shown in Table C (above), there are 4,077 airframes (19%) of the active business jet fleet that are over thirty years old. Of those 4,077 aged airframes, 539 (27%) are for sale currently. The 11-20 years-old category has the largest numbers of active fleet (7,841), with 662 for sale. Unsurprisingly, the two older age groups have over 10% of the fleet for sale (buyer’s market) while the two younger age groups represent a sellers’ market with less

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than 10% of the fleet for sale. JETNET data shows that for business jets aged 30 and over an inflection point occurs where a greater percentage for retirements take place.

In Summary

The industry should be under no illusion that when the market turns, a correction will occur. We have determined that during and following the Great Recession, as part of the market correction process there was an increase in business jet retirements. Business jet retirements in the post-recession period occurred at an average airframe age 2.7 years older than for jets retired in the pre-recession period. The overall impact of the Great Recession on the aging business jet segment has been that these airframes are being retired in greater numbers, while also being held in service two-to-three years longer than they were prior to the recession. As we approach the 2020 ADS-B Out mandate and the natural process of attrition unfolds, OEMs are ready and eager to fill the void wit h a long line of more efficient, state-of-the-art models. T

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AVBUYER.com David Wyndham is co-owner & 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

What to Consider When Chartering Your Jet Previously, we explored the possibility of reducing the total cost of aircraft ownership by hiring a management company to charter your business jet when you’re not using it. Here, David Wyndham discusses potential issues and concerns for operators to consider before choosing this path… utting an aircraft on a charter operator's certificate may incur expenses for the initial inspections that are required to demonstrate its compliance with FAA standards for commercial service. Both the aircraft and crew must conform to the charter operator's approved operating limitations. The aircraft must also be enrolled on the charter operator's approved maintenance program, which could require more frequent inspections, while commercial operations may necessitate the installation of additional safety equipment and the crews must train to the approved operating standards of the charter operator. The above costs, which are typically borne by the aircraft owner, can range from several thousand to tens of thousands of dollars. Given the added costs of approving your aircraft for on-demand commercial service, there must be sufficient charter revenue to make the arrangement work financially. The more you fly for your own purposes, however,

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the less time the charter operator has available to monetize your aircraft. This can be a delicate balance to find, since scheduling charter flights will impact the aircraft’s availability for company travel. Moreover, peak demand for charter may overlap with your own intended travel schedule, especially in the summer and around holidays. So, you will either forgo the charter revenue or be forced to adjust your own itinerary to accommodate. Some charter operators may claim that they can charter your aircraft for 700 hours per year but that won’t be possible unless you fly infrequently and avoid peak travel periods. If you fly more than 100–150 hours annually, you may not be able to generate enough charter revenues to make the extra work worthwhile.

Growing Maintenance Cost

Another consideration is that maintenance costs will likely increase, driven – in part – by the added equipment that must be operational for dispatching the aircraft on a Part 135 trip.



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“General wear and tear will also increase on your aircraft.” The charter regulations may not allow for as much flexibility in terms of what equipment may be required, meaning that some inoperative equipment that your pilot may elect to fly with on a Part 91 flight may be required for a revenue flight. For a business jet you must have operational Wi-Fi onboard. For many charter customers, Wi-Fi is expected. While the charter operator can pass on a portion of the fees to the client, the cost of modern connectivity equipment is ultimately borne by you, the owner. General wear and tear will also increase on your aircraft. Part of that will be due to the increased utilization. That interior you just refurbished won’t last as many years if you double or triple the use. Another factor is the ‘rental effect’, whereby charter customers may take less care of your aircraft than you would, resulting in occasional damage. Another contributor to the increased maintenance costs is the shipping of parts. If the charter operator is to generate significant charter revenue, the aircraft cannot remain grounded for very long while it awaits delivery of a part. Most non-scheduled parts will therefore be shipped using expedited service, resulting in higher costs. Total parts usage may also increase where the charter operator elects to replace several parts at once to get a charter trip launched on schedule, rather than spend time troubleshooting to find the exact problem. Though this is admittedly rare, it does occasionally happen when generating

revenue and taking care of the charter client has priority over minimizing costs.

Other Issues to Consider

There may be tax benefits associated with chartering your aircraft, however. Essentially, you will ‘lose’ money, and that loss may be advantageous with proper tax planning. It is important to note that you, as the owner, are not actively involved in the charter business so the charter revenue is usually characterized as passive income. You should consult a trained aviation tax advisor to discuss how charter revenue will impact your taxes and tax depreciation. Finally, speaking of depreciation, the decrease in market value for your aircraft will be accelerated in line with the greater utilization charter flying will generate. Some of that loss in value can be offset by having your aircraft on a guaranteed hourly maintenance program (GHMP). The GHMP will accrue for maintenance and this reserve account will ensure that major maintenance items will be covered, especially for the engines. The GHMP can help minimize the market depreciation. In summary, if you are not using your aircraft for a lot of flying, can take advantage of the possible tax benefits, and have a charter management company that you can work with, then chartering your aircraft can be a positive experience. Either way, you must weigh the decision carefully before deciding which route to take. ❙

Make more informed Aircraft Ownership Decisions - with AvBuyer 64 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

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AI R CRAF T

2009 Airbus A319CJ - s/n 3826

FOR

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1995 Avro RJ70 - s/n E1267

New to the Market!

2012 Global 5000 - s/n 9468

Outstanding!

2010 Legacy 650 - s/n 14501134

Deal Pending!

2012 Dassault Falcon 7X - s/n 167

2012 Dassault Falcon 7X - s/n 136

1988 Dassault Falcon 50 - s/n 185

2007 Premier 1A - s/n RB-0196

Deal Pending!

2005 Challenger 604 - s/n 5599

Deal Pending!

1999 Socata TBM 700A - s/n 141

2006 Bombardier Global 5000

41, rue Grimaldi

2012 Gulfstream G550

MC-98000 MONACO

+377 93 30 80 02

www.boutsen.com

FILE PHOTO

1980 King Air E90 - s/n LW-329

FILE PHOTO

2009 Citation Mustang - s/n 510-0182

2010 Gulfstream G550

sales@boutsen.com

Values Intro Feb19.qxp_Finance 22/01/2019 15:38 Page 1

VALUES - MEDIUM JETS

AVBUYER.com

Business Aircraft Values: Medium Jets Of all the business jet

categories, none does more to balance

capability with utility

than the Medium Jet segment; and no

segment provides

more options, either. or the purpose of our Retail Price Guide, Medium Jets are loosely defined as aircraft with a Maximum Take-Off Weight between 20,001-40,000 lbs. There’s no disputing the advantages of space as you step into a Medium Jet cabin, particularly when applied to longer trips. That is ultimately where the Medium Jets’ basic advantage comes into play over the Light Jet segment. Medium Jets tend to cruise towards the upperend of the private jet speed range (between Mach 0.78 and Mach 0.85). While on average faster than the Light Jet, a Medium Jet’s superior speed generally provides only a few minutes of gain on the typical Business Aviation trip of 350 to 500 miles, but the difference will become noticeable on longer legs exceeding 1,000 miles. In terms of range, the average Medium Jet can reach most of the US non-stop from almost anywhere else within the US, making them excellent candidates for the operator with regular transcontinental travel needs. That range capability also gives the crew the flexibility to string together a sequence of stops that total the same distance – making it possible for a Medium Jet to cover multiple locations and still get home at the days’ end, without buying fuel along the way. Runway requirements for Medium Jets are generally longer than the average length needed by a Light Jet – but nevertheless Medium Jets can still access a significant percentage of the secondary airports serving most of the 150 largest metropolitan areas in the US.

66 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Indeed, Medium Jets generally can match their Large Cabin kin in terms of speed and, to a point, their range, while providing reasonable office amenities that are competitive with most larger aircraft. With all of the above considered, it is little wonder that the Medium Jet segment is the biggest selling, deepest segment across the business aircraft market.

Medium Cabin Jet Price Guide

The following Medium jets’ Average Retail Price Guide represents current values published in the Aircraft Bluebook–Price Digest. The study spans model years from 1999 through Winter 2018. Each reporting point represents the current average retail value published in the Aircraft Bluebook by its corresponding calendar year. For example, the Citation Sovereign+ values reported in the Winter 2018 edition of the Bluebook show $12.5m for a 2016 model, $12.0m for a 2015 model and so forth. Aircraft are listed alphabetically. With the reader’s knowledge of aircraft, equipment, ra nge and performance, the following Guide allows the reader to determine the best value aircraft for consideration. Note: We have included 30 aircraft models in the following Medium Jets average price guide, and for additional assistance, Conklin & de Decker’s Performance and Specifications data for these models can be referred to, beginning on page 72



www.AVBUYER.com

Aradian February.qxp 23/01/2019 09:32 Page 1

File photo

Gulfstream 550

Gulfstream 450 Several aircraft available

Several aircraft available

1998 Hawker 800XP

2018 HondaJet

4,500 hours. MSP. Satcom. Recent G check. Excellent condition

12TT. Speedbrakes. Well equipped. Engine and airframe programmes

Gulfstream GV

Gulfstream GIV SP Several aircraft available

Several aircraft available

Two 2006 Eurocopter AS365N3 3,530 and 4375 hours. Offshore equipped. Good engine and rotary parts times remaining

2011 Agusta A119Ke Koala 1550 hours. Utility equipped with cargo hook

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Retail ValuesFeb2019.qxp_RPG 22/01/2019 14:25 Page 1

VALUES - MEDIUM JETS

Medium Jets: 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

2010 US$M

2009 US$M

12.0

11.5

10.6

9.6

9.1

4.2

4.0

3.6

3.4

3.2

4.5

4.2

3.8

3.6

3.3

3.0

2.7

2.5

9.2

8.2

7.2

6.2

8.4

7.8

7.3

6.9

6.4

6.7

6.2

5.7

5.5

5.3

MODEL BOMBARDIER CHALLENGER 300

13.0

BOMBARDIER LEARJET 60XR BOMBARDIER LEARJET 60SE BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR BOMBARDIER LEARJET 40

CESSNA CITATION X+ 750

20.0

19.0

17.0

15.0

12.0

CESSNA CITATION X 750 CESSNA CITATION V11 650 CESSNA CITATION LATITUDE 680A

15.0

13.0

11.5

CESSNA CITATION SOVEREIGN+680

16.0

14.0

12.5

11.0 12.0

11.0

CESSNA CITATION SOVEREIGN 680 CESSNA CITATION XLS+560

12.0

10.5

8.250

7.750

7.0

10.0

CESSNA CITATION XLS 560

4.7

CESSNA CITATION EXCEL 560

DASSAULT FALCON 2000 DASSAULT FALCON 50EX

GULFSTREAM G280

22.0

19.0

17.5

16.5

15.5

14.5

13.5

GULFSTREAM G200

6.4

6.0

5.6

6.3

5.6

5.4

5.1

HAWKER 4000

4.2

4.0

3.8

3.2

HAWKER 900XP

5.5

5.0

4.5

4.0

GULFSTREAM G150

9.0

8.0

7.5

7.0

GULFSTREAM G100 GULFSTREAM/ ASTRA 1125 SPX

HAWKER 850XP PRO LINE

3.6

HAWKER 800XP HAWKER 750

3.5

3.0

2.5

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

68 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

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Retail ValuesFeb2019.qxp_RPG 22/01/2019 14:26 Page 2

AVBUYER.com

What your money buys today

Winter 2018 2008 US$M

2007 US$M

2006 US$M

2005 US$M

8.4

7.6

7.2

6.7

2.9

2.7 2.7

2004 US$M

6.4

2003 US$M

2.3

3.2

2.1 1.750

2001 US$M

2000 US$M

1999 US$M

6.1

MODEL YEAR $ MODEL BOMBARDIER CHALLENGER 300 BOMBARDIER LEARJET 60XR

2.350

2.250

2.150

BOMBARDIER LEARJET 60SE 2.050

3.4

2002 US$M

2.9

2.6

2.5

2.3

2.4

2.1

1.9

1.7

1.9

1.450

1.550

1.350

1.950

1.8

1.7

1.6

BOMBARDIER LEARJET 60 BOMBARDIER LEARJET 45XR

1.6

1.5

1.4

1.3

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

1.250

BOMBARDIER LEARJET 40

CESSNA NEW CITATION X+ 750 5.5

4.8

4.4

4.1

3.9

3.7

3.4

3.1

2.9

2.7

CESSNA CITATION X 750

1.8

1.7

CESSNA CITATION V11 650 CESSNA CITATION LATITUDE 680A CESSNA CITATION SOVEREIGN+ 680

6.1

5.8

5.4

5.0

4.7

CESSNA CITATION SOVEREIGN 680

5.2 4.6

CESSNA CITATION XLS+ 560 4.1

3.9

3.7

3.5

CESSNA CITATION XLS 560

2.8

2.6

2.5

2.4

2.2

2.0

CESSNA CITATION EXCEL 560

7.5

7.0

6.4

5.9

5.2

4.9

4.5

3.7

3.5

DASSAULT FALCON 2000

5.4

5.2

5.0

4.8

4.5

4.0

3.6

3.4

3.2

DASSAULT FALCON 50EX

GULFSTREAM G280 5.2

4.8

4.4

4.7

4.3

4.0 3.1

4.2

3.9

3.4

3.2

3.0

2.8

2.5

GULFSTREAM G200 GULFSTREAM G150

2.9

2.7

2.5

2.3

2.1 2.1

GULFSTREAM G100 1.9

1.8

GULFSTREAM/ ASTRA 1125 SPX

3.0

HAWKER 4000

3.5

HAWKER 900XP

3.3

3.0

2.6

2.1 2.1

2.2

HAWKER 850XP PRO LINE 2.0

1.9

1.8

1.7

1.6

1.5

HAWKER 800XP HAWKER 750

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

www.AVBUYER.com

AVBUYER MAGAZINE Vol 23 Issue 2 2019

JetNet February.qxp_Layout 1 21/01/2019 12:12 Page 1

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

295 N314CM 7390.6 5254

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Tel: +1 (954) 246 4133 Cell: +1 (954) 270 3333 www.skyaviationholdings.com

AVBUYER MAGAZINE Vol 23 Issue 2 2019

ACSpecs Intro.qxp_AC Specs Intronov06 21/01/2019 16:42 Page 1

SPECIFICATIONS - MEDIUM JETS

Aircraft Performance & Specifications Medium Jets

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 - Medium Jets – appears opposite, to be followed by Light 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.

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.

72 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

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SpecificationsC.qxp_PerfspecDecember06 21/01/2019 16:44 Page 1

CABIN WIDTH (ft)

CABIN LENGTH (ft)

CABIN VOLUME (Cuft)

PASS SEATS TYPICAL

MAX TAKEOFF (lbs)

MAX PAYLOAD (lbs)

FERRY RANGE-nm (NBAA IFR FUEL RESERVES)

MAX SPEED (ktas)

NUMBER OF ENGINES

BEECHCRAFT HAWKER 750

5.75

21.3

551

27000

2200

2050

447

TFE 731-5BR

BEECHCRAFT HAWKER 800XP

5.75

21.3

551

28000

2050

2470

449

TFE 731-5BR

BEECHCRAFT HAWKER 800XPi

5.75

21.3

551

28000

2050

2470

449

TFE 731-5BR

BEECHCRAFT HAWKER 800XPR

5.75

21.3

551

28000

1950

2733

452

TFE 731-50R

BEECHCRAFT HAWKER 850XP

5.75

21.3

551

28000

2120

2525

452

TFE 731-5BR

BEECHCRAFT HAWKER 900XP

5.75

21.3

551

28000

1950

2733

452

TFE 731-50R

BEECHCRAFT HAWKER 4000

6.46

746

39500

2300

3100

489

PW308A

BOMBARDIER LEARJET 40

4.92

5.12

17.67

369

20350

2282

1573

465

TFE 731-20AR

BOMBARDIER LEARJET 40XR

4.92

5.12

17.67

369

21000

2051

1778

465

TFE 731-20BR

BOMBARDIER LEARJET 45

4.92

5.12

19.75

415

20500

2110

1423

465

TFE 731-20AR

BOMBARDIER LEARJET 45XR

4.92

5.12

19.75

415

21500

1875

1685

465

TFE 731-20BR

BOMBARDIER LEARJET 60

5.71

5.92

17.67

447

23500

2228

2186

465

PW305A

BOMBARDIER LEARJET 60XR

5.71

5.92

17.67

447

23500

2104

2044

465

PW305A

BOMBARDIER LEARJET 70

4.92

5.12

17.67

369

21500

2285

1849

465

TFE 731-40BR

BOMBARDIER LEARJET 75

4.92

5.12

19.75

415

21500

2110

1805

465

TFE 731-40BR

BOMBARDIER CHALLENGER 300

6.08

7.17

23.7

930

38850

3350

3065

470

HTF7000

CESSNA CITATION EXCEL

5.7

5.5

18.5

422

20000

2500

1449

433

PW545A

ENGINE MODEL

CABIN HEIGHT (ft)

AVBUYER.com

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.

www.AVBUYER.com

AVBUYER MAGAZINE R VOL 23 Issue 2 2019 R

SpecificationsC.qxp_PerfspecDecember06 22/01/2019 15:56 Page 2

CABIN LENGTH (ft)

CABIN VOLUME (Cuft)

PASS SEATS TYPICAL

MAX TAKEOFF (lbs)

MAX PAYLOAD (lbs)

FERRY RANGE-nm

(NBAA IFR FUEL RESERVES)

MAX SPEED (ktas)

NUMBER OF ENGINES

CESSNA CITATION XLS

5.7

5.5

18.5

422

20200

2300

1539

433

PW545B

CESSNA CITATION XLS+

5.7

5.5

18.5

422

20200

2300

1528

440

PW545C

CESSNA CITATION VII

5.7

5.5

18.4

422

23000

2250

1693

452

TFE 731-4R-2

6.42

21.08

587

30800

2544

2455

429

PW306D

CESSNA CITATION SOVEREIGN

5.7

5.5

25.25

571

30300

2650

2620

459

PW306C

CESSNA CITATION SOVEREIGN+

5.7

5.5

25.25

585

30755

2490

2773

459

PW306D

CESSNA CITATION X

5.7

5.5

23.92

538

36100

2375

2890

525

AE 3007C1

CESSNA CITATION X+

5.7

5.5

25.2

593

36600

2514

3229

527

AE 3007C2

DASSAULT FALCON 50EX

5.9

6.1

23.5

569

39700

3320

3223

480

TFE 731-40

DASSAULT FALCON 2000

6.2

7.7

31.2

1028

35800

5910

2841

475

CFE 738-1-1B

EMBRAER LEGACY 450

6.83

705

35758

2754

2498

468

HTF7500E

EMBRAER LEGACY 500

6.83

27.5

823

38360

2650

2762

472

HTF7500E

GULFSTREAM G100

5.6

4.75

17.1

304

24650

2635

2550

474

TFE 731-40R

GULFSTREAM G150

5.75

17.7

521

26100

2400

2760

470

TFE 731-40AR

GULFSTREAM G200

6.25

7.2

24.5

869

35450

4050

3130

470

PW306A

GULFSTREAM G280

6.25

7.2

32.25

888

39600

4050

3590

482

HTF7250G

CESSNA CITATION LATITUDE

ENGINE MODEL

CABIN WIDTH (ft)

AVBUYER.com

CABIN HEIGHT (ft)

SPECIFICATIONS - MEDIUM JETS

74 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

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Challenger 604 1997 SERIAL NUMBER 5334

Fortune 500 Pedigree & FANS Equipped! Introducing Challenger 604 SN 5334, boasting impeccable ownership history with one Fortune 500 company operating this aircraft since new. It also offers substantial value in avionics upgrades that include: FANS 1A/CPDLC

GoGo Biz Wifi

ADS-B Out (v1)

XM Graphic Weather

WAAS/LPV

And more!

Triple FMS/Triple IRS The spacious cabin features 10 passenger seating with a forward four-place club, while the aft section has twoplace club seating opposite a four-place divan. Call Jim Donath at Donath Aircraft Services before this unique opportunity flies away!

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10/31/18 4:50 PM

AirCompAnalysis Feb19.qxp_ACAn 22/01/2019 12:20 Page 1

HELICOPTER COMPARISON

Aircraft Comparative Analysis Leonardo AW109E Power vs Bell 429 In this month’s Aircraft Comparative Analysis, Mike Chase provides information on a pair of popular light twin turbine helicopters for the purpose of valuing the Leonardo AW109E Power.

ollowing, we’ll analyse the performance of the Leonardo AW109E Power and the Bell 429 to see how they compare within the market. We’ll consider productivity parameters (payload, range, speed and cabin size) and current market values. First, let’s look briefly at the history behind Leonardo. In July 2000 AgustaWestland was formed when British company GKN and Italian company Finmeccanica merged, with each ho lding a 50% share of their respective helicopter subsidiaries, Agusta and Westland Helicopters. Then in 2004 Finmeccanica acquired GKN’s stake in AgustaWestland. In January 2016 Finmeccanica created a whollyowned company, Leonardo S.p.A. Helicopters, but its aircraft retained their AW model designations.

76 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

AW109E Power

The A109 model had been in production from 1996 to 2015, and the AW109E Power is based on the A109K-2 airframe, but offers a wider flight deck and cabin. Ultimately, the AW109E Power is single-pilot IFR certified, and can be equipped with either Pratt & Whitney PW206C or Turbomeca Arrius 2K-1 engines controlled by a Full Authority Digital Engine Control (FADEC) system. In total, today there are 372 AW109E Power helicopters in operation worldwide, and 43 have been retired for various reasons. E urope is home to the largest fleet percentage (30%), followed by North America (24%), Asia (20%) and South America (17%), accounting for a combined 91% of the world’s fleet. The percentage of the fleet currently for sale www.AVBUYER.com

AirCompAnalysis Feb19.qxp_ACAn 22/01/2019 12:20 Page 2

www.AVBUYER.com

HOW MANY

EXECUTIVE

SEATS?

AGUSTA

AW109E Power

vs.

$3.2 Million

$4.7 Million

(2012 Model)

BELL

429

(2012 Model)

WHICH OF THESE HELICOPTERS WILL COME OUT ON TOP HOW FAST WILL I CLIMB

(Rate of climb, ft per minute at MTOW)

Agusta AW109E Power 1,500ft

HOW FAR

CAN WE GO? (Nautical Miles, Seats Full)

Bell 429 2,750ft

LONG RANGE CRUISING SPEED? (Knots) 140

260 276

3000 (ft)

2500

WHAT’S THE

HOW MUCH

PAYLOAD

130

WHAT’S THE

COST PER HOUR?

CAN WE TAKE? (Lbs)

2000

2,339

1,419

2,353

$1,028

1500

1000

500

HOW MANY

OPERATION?

EACH MONTH?

UNITS IN

325

372

NEW/USED SOLD

2 (5.5%)

3 (11.8%)

0 Sources used: Conklin & de Decker, Vref, JETNET.

www.AVBUYER.com

12-month Average Figure (% Global Fleet ‘For Sale’)



AVBUYER MAGAZINE Vol 23 Issue 2 2019

AirCompAnalysis Feb19.qxp_ACAn 22/01/2019 15:43 Page 3

P HELICOPTER COMPARISON

Table A - AW109E Power Top Eight Countries of Registration Country of Registration

Rank

# of AW109E Power

United States

20%

Brazil

15%

Japan

United Kingdom

Mexico

Italy

Spain

France

To p E i g h t Tota l

262

70%

Other

110

30%

G ra n d Tota l

372

100%

Status of ADS-B Out Equipage

Of the 63 AW109E Power helicopters where the based airport country is the US, 34 (54%) have ADS-B Out installed, leaving 46% of the fleet yet to comply. The FAA has mandated that all US-operated helicopters must comply with this new requirement by Jan, 1, 2020.

Source: JETNET

Table B - Payload & Range Comparison

Payload & Range Comparison

AW109E Power Bell 429

6,614

7,000

1,052

1,471

Max Fuel (lb)

MTOW (lb)

Source: Conklin & de Decker; JETNET, LLC

2,339

2,353

Max Payload (lb)

1,287

882

Avail Payload w/Max Fuel (lb)

1,312

Chart A - Cabin Cross-Section Leonardo AW109E Power

Source: UPCAST JETBOOK

78 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Bell 429

is 11.8%, and the average days on the market before an AW109E Power sells stands at 523 days, according to JETNET. Table A (left) shows the top eight countries of registration for the AW109E Power fleet. The US accounts for 20% of all operators worldwide. Combined, the top eight countries of registration account for 70% of the worldwide fleet.

316

330

Tanks Full Range (nm)

The data contained in Table B (left) is sourced from JETNET. As we have mentioned previously, a potential operator should focus on payload capability as a key factor. The AW109E Power ‘Available Payload with Maximum Fuel’ (1,287 lbs) is greater than that offered by the Bell 429 (882 lbs).

Cabin and Sections

According to Conklin & de Decker, the AW109E Power’s cabin volume measures 125cu.ft. The Bell 429 has more cabin volume (130cu.ft). Chart A (left), courtesy of UPCAST JETBOOK, offers a cabin cross-section comparison, showing the AW109E Power has more width (5.3ft vs 5ft) and slightly more height (4.2ft vs 4.1ft) than the Bell 429 cabin. However, the cabin length of the Bell 429 is greater (9.8ft vs 6.89ft). The AW109E Power has 34cu.ft of external and 10cu.ft of internal baggage space, while the Bell 429 has no external baggage space, but 50cu.ft of internal baggage space. The typical seating configuration for both the AW109E Power and Bell 429 is for five seats with two crew members (executive configuration). www.AVBUYER.com

AirCompAnalysis Feb19.qxp_ACAn 22/01/2019 12:22 Page 4

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Range Comparison

Chart B - Range Comparison

As depicted by Chart B (right), using Leonardo’s manufacturing plant just outside of Milan, Italy as the origin point, the AW109E Power’s seats full range of 260nm is slightly less than that of the Bell 429 (276nm), according to JETNET. Note: For helicopters ‘seats full range’ represents the maximum IFR range of the aircraft at long range cruise with all passenger seats occupied. This does not i nclude winds aloft or any other weather-related obstacles.

AW109E Power 260 nm (w/5 Pax) Bell 429 276 nm (w/5 Pax)

Powerplant Information

The AW109E Power utilizes either a PW206C or Arrius 2K-1 engine, each with the same 716shp transmission rating. (The transmission rating is a limiting factor in the total rated and usable engine power output.) The Bell 429 is powered by a PW207D1 turbine engine with 610shp.

Source: Chase & Associates

Chart C – Total Variable Cost

Total Variable Cost

The ‘Total Variable Cost’, sourced from JETNET and illustrated in Chart C (right), is defined as the Cost of Fuel Expense, Maintenance Labor Expense, Scheduled Parts Expense and Miscellaneous Trip Expense. The Total Variable Cost for the AW109E Power computes at $1,419/hr. This is $391 (38%) higher than the Bell 429’s $1,028/hr. cost.

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$1,028

Bell 429 $0

$600

$1,200

$1,800

US $ per hour

Source: JETNET

Aircraft Comparisons

Table C (right) contains the used 2012 prices from Vref for each helicopter. The average speed, cabin volume and maximum payload values are from Conklin & de Decker/JETNET, while the number of helicopters inoperation and fleet percentage for sale are as reported by JETNET. The AW109E Power has 11.8% of its fleet currently for sale, whereas the Bell 429 has 5.5% for sale. The average number of used transactions (sold) per month for the AW109E Power is three units per month compared to the Bell 429 with two units sold per month.

$1,419

AW109E Power

Table C - Aircraft Comparison Table AW109E Power Bell 429

140

130

Long Range Cruise Speed (Kts)

125

130

Cabin Volume Cu Ft

260

276

$3.200 $4.700

Seats Full Range (nm)

Used 2012 Vref Price $USm

372

325

In Operation

11.8% 5.5% % For Sale

Average Per Month Sold*

*Average Full Sale Transactions in the past 12 months; Source: JETNET



Data courtesy of Conklin & de Decker; JETNET; Vref

AVBUYER MAGAZINE Vol 23 Issue 2 2019

AirCompAnalysis Feb19.qxp_ACAn 22/01/2019 15:42 Page 5

HELICOPTER COMPARISON

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Table D - Part 91 & 135 MACRS Schedule

Depreciation Schedule

MACRS Schedule for PART 91 Year Deduction

20.0%

32.0%

19.20%

11.52%

5.76%

MACRS Schedule for PART 135 Year Deduction

14.29%

24.49%

17.49%

12.49%

8.93%

8.92%

8.93%

4.46%

Source: NBAA

Table E - MACRS Depreciation Schedule 2012 Leonardo AW109E Power Full Retail Price - Million $3.200 Year

Rate (%)

32.0%

20.0%

19.2%

11.5%

5.8%

Depreciation ($M)

$0.640

$1.024

$0.614

$0.369

$0.184

Cum. Depreciation ($M)

$0.640

$1.664

$2.278

$2.647

$3.016

$3.200

Depreciation Value ($M)

$1.536

$2.560

$0.922

$0.553

$0.184

$0.000

2012 Leonardo AW109E Power Full Retail Price - Million $3.200 Year

Rate (%)

14.3%

24.5%

17.5%

12.5%

8.9%

Depreciation ($M)

$0.457

$0.784

$0.560

$0.400

$0.286

$0.285

$0.286

Cum. Depreciation ($M)

$0.457

$1.241

$1.801

$2.200

$2.486

$2.772

$3.057

Depreciation Value ($M)

$2.743

$1.959

$1.399

$1.000

$0.714

$0.428

$0.143

4.5%

$0.143 $0.000 $3.200

Source: Vref

Bell 429

Helicopters that are owned and operated by businesses are often depreciable for income tax purposes under the Modified Accelerated Cost Recovery System (MACRS). Under MACRS, taxpayers are allowed to accelerate the depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period (see Table D, left). In certain cases, helico pters 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 tax payers must consider in determining if a helicopter may be depreciated, and if so, the correct depreciation method and recovery period that should be utilized. For example, helicopters used in charter service (i.e. Part 135) are normally depreciated under MACRS over a seven-year recovery period or under ADS using a twelve-year recovery period. Helicopters used for qualified business purposes, such as Part 91 bu siness use flights, are generally depreciated under MACRS over a period of five years or by using ADS with a sixyear recovery period. There are certain uses of the helicopter, such as non-business flights, that may have an impact on the allowable depreciation deduction available in a given year. Table E (middle, left) depicts an example of using the MACRS schedule for a 2012 model AW109E Power helicopter in pr ivate (Part 91) and charter (Part 135) operations over five- and seven-year periods, assuming a used 2012 retail price of $3.2m (per Vref).

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AirCompAnalysis Feb19.qxp_ACAn 22/01/2019 12:23 Page 6

HELICOPTER COMPARISON

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Chart D - Productivity Comparison

Asking Prices & Quantity

AW109E Power Bell 429 $6.0 2012 Bell 429

Price (Millions)

The current used helicopter market for the AW109E Power shows a total of 44 helicopters for sale with 21 displaying an asking price ranging from $950k to $2.8m. We also reviewed the 18 used Bell 429 helicopters for sale, which displayed eight asking prices ranging from $4.399m to $6.5m. While each serial number is unique, the airframe hours and age/condition will cause great variations in price. Of course, the final negotiated price remains to be decided between the seller and buyer before the sale of an aircraft is completed.

$4.0 2012 AW109E Power $2.0

2012 Bell 427

Productivity Comparisons

The points in Chart D (right) are centered on the same helicopters. For added measure, we have included the Bell 427. Pricing used in the vertical axis is as published in by Vref for the respective 2012 model aircraft. 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:

$0.0 0.0000

2.0000

4.0000

6.0000

8.0000

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

1. Seats Full Range with available fuel; 2. The Long Range cruise speed flown to achieve that range; 3. The cabin volume available for passengers and amenities. Others may choose different parameters, but serious helicopter buyers are usually impressed with Price, Range, Speed and Cabin Size. After consideration of the Price, Range, Speed and Cabin Size, we can conclude that the AW109E Power is competitive in its market. Based on 2012 model used prices, the Bell 429 shows a higher retail price (+$1.5m) than the AW109E Power, but also offers a slightly larger cabin volume, lower variable hourly operating cost and slightly more range with seats full. However, the AW109E Power offers greater payload with full fuel capability. The AW109E Power averages three units sold per month and is still a popular model on the used market today. Operators should weigh up their mission requirements and budget precisely when picking which option is the best for them.

Summary

Within the preceding paragraphs we have touched upon several of the attributes that helicopter operators value. However, there are other qualities that might factor in a buying decision too. Our expectations are that the AW109E

82 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Power will continue to do well on the used helicopter market for the foreseeable future. Of course, if the AW109E Power helicopter is not outfitted with ADS-B Out it cannot be placed in operation in the US after December 31, 2019 as mandated by the FAA. Buyers must keep this in mind when choosing their next helicopter purchase. â?&#x2122;

Mike Chaseâ&#x20AC;&#x2122;s analytical and consultancy services serv r ices are highly rv valued within the Business Av Aviation A iation industry. industry ry. ry y. He is founder f under and fo president of Chase & Associates, and works closely with several respected sources to compile his unique Aircraft f Comparative ft Analysis fe ffeature. ature. Contact Mike via mike@avbuyer.com mike@avb v uyer.com vb

Compare, Contrast, Decide with AvBuyer www.AVBUYER.com

Leading Edge February.qxp_Layout 1 21/01/2019 12:14 Page 1

Gulfstream Opportunities Price Just Reduced $1 Million - $10,995,000

1997 Gulfstream GV s/n 516 Engines on Rolls-Royce CorporateCare, FMS 6.1 Software with SBAS/LPV GPS, Complete New Interior, ATG-4000 GoGoBiz Text/Talk BBML, Based in Morristown, NJ (MMU)

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2003 Gulfstream G400 s/n 1515 New Paint and Interior Completed January 2019 at West Star, Engines on Rolls-Royce CorporateCare, APU on MSP, Just Completed Next Gen Upgrades, Just Completed Major Maintenance Inspections. Based in St.Paul, Minnesota (STP)

Price: $9,600,000

2005 Gulfstream G450 s/n 4009 Enhanced Navigation (ASC 059) with FANS 1/A+, CPDLC, WAAS/LPV, Engines on Rolls-Royce CorporateCare, APU on MSP, Swift Broadband Hi-Speed Data w/ Wireless LAN System, Honeywell Satellite TV, Currently Operated Part 135, Based at Long Island MacArthur Airport (ISP) in Ronkonkoma, NY

Maintenance.qxp_Finance 22/01/2019 09:53 Page 1

MAINTENANCE

Whatâ&#x20AC;&#x2122;s the Real Value of an Aircraft Upgrade? Can an aircraft upgrade pay-out beyond the initial cost? How does a business jet operator assess the ultimate value in the options available to them? Andre Fodor draws on some of his own experiences as an aviation director...

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Maintenance.qxp_Finance 22/01/2019 09:54 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.

•

couldn't help but stare. The aircraft parked on the ramp at the FBO had shiny, brand new paint and glistening chromed bright work that had been polished to perfection. The pilots were busy with their pre-flight preparations, and a fuel truck fed the jet's thirsty tanks for an upcoming flight. What was it that caught my interest? I was looking at a Sabreliner 65 (circa 1980), and it looked brand new. What ever could have been the rationale leading someone to spend some serious money upgrading an aircraft that had long passed its prime? Days later I had the opportunity to meet the chief pilot of that Sabreliner's operation and ask first hand. He explained that there were three reasons the decision had been made to invest on upgrades:

•

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First, the asset had been fully paid years ago and was also completely depreciated. The residual value of the aircraft (in this case) was equal to its scrap value.

Second, since this was an old aircraft, there were no trade-in opportunities and no interest from charter operators to use it to generate revenue. Third, the owner's travel requirements represented one hundred hours of annual utilization (mostly on regional flights) with an occasional vacation trip to the Caribbean.

Essentially the owner enjoyed his aircraft and had (thus far) had a positive ownership experience. What made all that possible, however, was the accumulation of years-worth of in-house expertise on that aircraft. The chief pilot and the director of maintenance had both been with the jet since its purchase and were, without question, experts on its upkeep. There were of course challenges, including the limited availability of training, replacement parts and avionics upgrades, but they felt confident in the success of keeping the aircraft airworthy with its low annual hours of demand. Although this scenario represents a niche opportunity to extend the useful life of an older airplane, it serves well as a primer for discussion about the benefits of investing in upgrades.

Where's the Value in Upgrading?

With the deadline for ADS-B approaching, many operators will have to consider the value of an upgrade. Looking back to when RVSM was mandated, there were a number of aircraft that made their final flights to the salvage yard, owing to the high cost of upgrading air data computers and installing the equipment that would deliver compliance.

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AVBUYER MAGAZINE Vol 23 Issue 2 2019

Maintenance.qxp_Finance 22/01/2019 09:56 Page 3

MAINTENANCE

AVBUYER.com

Other operators opted to stay below FL290, accept higher operational costs and reduced range until they had used all remaining hours prior to their next major maintenance event. Today things are a little different, though. Advancements in technology have reduced costs and helped speed products' entries into the market. Attending a recent aviation trade show, one vendor promised an ADS-B solution that was self-contained within the wingtip nav light. The vendor claimed it would require just three wires and less than six hours for installation. Moreover, the system would come with an opposite matching nav light for aesthetic purposes. Products such as this may breathe new life in the economics of upgrading older aircraft. Upgrade packages for aging airframes have been (and continue to be) developed with the aim of resetting the expiration date of an aircraft's obsolescence. Today, those upgrades that blend new navigational technologies and NextGen compliance with older airframes are very aggressively priced. Moreover, when combined with a powerplant enhancement offering new engines, longer TBO and greater performance and fuel savings, plus new exterior paint and interior refurbishment, aircraft can essentially be branded as 'zero-time'. For operators who already own an upgradable airframe (or even for those with managed

expectations who are looking to buy one), there's value in a lower cost like-new aircraft experience.

Adding Value With Less Capital

One of the greatest challenges in managing corporate aircraft is to add value with less capital. As an example, during scheduled maintenance it's good practice to look for the low-cost 'good-tohave' upgrades that can be completed within the scheduled down-time. Just recently, I opted to change the internal look of one of our jets by adding stitching and piping to the passenger's seats as we waited for a phase inspection to be completed. Previously during a strip and paint project we've opted to pull all inspection covers while the aircraft skin was paintfree to inspect for any signs of corrosion. It certainly pays to think outside the box! Upgrades provide a fresh look that can give new life to older aircraft. The upgrade could be as simple as adding a wireless hard drive to feed digital media to iPads; an off-the-shelf wireless printer to enhance in-flight productivity; a massage seat cover; or a fancy coffee machine. It's about the cost versus the benefit and thinking creatively for ways to bring value, excitement, freshness, and an outstanding service experience to the owner. They will return the effort with a continued commitment of flying privately and reward us with new opportunities for growth. â?&#x2122;

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Connectivity.qxp_Finance 21/01/2019 16:30 Page 1

CONNECTIVITY

Jet Connectivity: Finding Whatâ&#x20AC;&#x2122;s Best for You

88 Vol 23 Issue 2 AVBUYER MAGAZINE

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Connectivity.qxp_Finance 21/01/2019 16:30 Page 2

AVBUYER.com Dave Higdon is a highly respected aviation journalist who has covered all aspects of civil aviation over the past 36 years. Based in Wichita, he has several thousand flight hours, and has piloted pretty much everything from foot-launched wings to combat jets. Contact him via Dave@avbuyer.com

Operators considering the addition or upgrade of an in-flight connectivity system face a dizzying array of options. Dave Higdon speaks to some of the industry leaders to discover how an operator can cut through the choices to identify what works best for them…

ccording to Brian Wilson, national key accounts director, Gogo Business Aviation, it’s best to begin with the very basics. “What is critical to know is what you're starting with. What kind of aircraft will use the equipment?” But that's just the opening question. The answer doesn't necessarily simplify the selection process. Instead, it will narrow down some of the options while expanding others. Irrespective of whether we spoke with Gogo, Satcom Direct or ViaSat, the elements an operator must weigh up follow a familiar pattern: What is your aircraft type (the antenna shape and size alone can limit a system’s application to your jet)? What kind of use do you anticipate needing (i.e. streaming, texting, phoning or viewing)? Where on the planet will you be flying? How many people might simultaneously use the connectivity service? These factors all influence the choices available. With a goal of finding the right level of service, the challenge focuses on getting the best fit – not too much, not too little, but just right for the operation and passengers.

Savings Through Applied Options

Gogo’s Brian Wilson has been “getting these questions for years”. Here’s how he helps users sift through the options to find the right fit for them. “Where are they flying? The guy with a King Air is probably mostly domestic,” he establishes. “The guy with a Gulfstream will probably be doing more international flying. “Moreover, how do they use the aircraft? Is it a company aircraft? If so, it will need office

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services. If it's a personal aircraft for mom, dad and four kids aged 6-16, the priorities are going to be different.” These questions come up again and again. “Once you've told me what you fly, where and how you use it, and how many people usually travel on the aircraft, I can narrow the 15-or-so options down to three or four.” Irrespective of the options, though, in Wilson’s experience the client’s boss usually wants to select “the best” until they learn about the $500k installation cost, plus the $10k-$30k monthly service charges. “That’s when we move from the boss wanting ‘the best’, to the boss enquiring ‘what else do you have?’ “We give them multiple options because of the cost differentials,” he explains. This analogy is how Wilson solves the first part of the equation. But Wilson stresses an important point: Unlike plans for terrestrial high-speed connectivity, when streaming while speeding through the sky there is no unlimited streaming plan for in-flight connectivity. Wilson (and others we interviewed) suggested that some operators flying internationally should consider installing two systems for their aircraft: One terrestrial-based system (like Gogo's Avance L5 product package) for low-coast domestic use, and another satellite-based system (such as Gogo’s upcoming Ku-satellite band) for international operations. Use can then be managed to minimize the service costs. More information from https://business.gogoair.com

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AVBUYER MAGAZINE Vol 23 Issue 2

Connectivity.qxp_Finance 21/01/2019 16:30 Page 3

CONNECTIVITY

Satellites Make you Global

Viasat's James Person was keen to note the benefits to Large-Cabin Jets in having global coverage and high-speed connectivity. “We recommend these owners consider our dual band solution which provides system redundancy, near global coverage and Ka-band speeds up to 16Mbps to the aircraft with global Ku-band data included at no additional charge.” But not every operator wants to invest in such a solution. Some look to cost efficiency as opposed to connectivity speed. “There are other considerations for value operators too,” Persons explained. “Perhaps they’re the aircraft’s second owner; maybe they just don’t want to invest much in the aircraft. “Viasat’s Ku-band solution, providing near global coverage, offers plans up to 6Mbps and can be installed for under $400k by a qualified MR O on a G450 (for example).” Persons observes that owners must also evaluate whether the connectivity equipment on their jets today can meet the data and speed demands of tomorrow’s data-rich applications. To help meet such demand we offer the Global Aero Terminal 5510 dual-band Kaband/Ku-band antenna, enabling aircraft to take advantage of Ka- and Ku-band coverage today, and then stay current as we bring on more high capacity global Ka-band satellites without the need to swap out hardware. Whether Ka- or Ku-band, Viasat systems use the same three LRU form factor and wiring to ensure the in-flight connectivity system is futureproofed. More information from www.viasat.com 90 Vol 23 Issue 2 AVBUYER MAGAZINE

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An Open-System Approach

Satcom Direct drew a large crowd to its NBAABACE press event in which it unveiled its new open-architecture approach to outfitting business aircraft with the best in-flight connectivity hardware, software and service for their needs. SD Xperience is focused on end-to-end solutions rather than an internet service, as explained by Satcom Direct's Jared Maynard. “There used to be only a few options. Now there are many, many more, both in equipment and services. And that increase has made it really, really complex. “We found the best way was to approach this on a client-by-client basis, focus on their mission and expectations, and help simplify the process. That's what the SD Xperience is all about,” Maynard explains. Essentially Satcom Direct works with the client to define the best mix of hardware, software, and connectivity services that meet their requirements, helping with the installation and configuration process, and providing the service and support once operational. “We have the largest selection of hardware, software and networks in the industry. We leverage this portfolio to build unique solutions that deliver the best user experiences possible,” Maynard explains. “We might make the router, Honeywell supplies the antenna, Inmarsat provides the network, and we tie it all together with our software… The result is a complete pre-flight to post-flight solution that generates one monthly bill for the whole package.” More information from www.satcomdirect.com ❙ www.AVBUYER.com

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Avionics 1 Feb19.qxp_Finance 22/01/2019 09:32 Page 1

AVIONICS

Cockpit Upgrades: The Value of Meeting Compliance Even in 2019, procrastination towards ADS-B compliance is apparent. Brian Wilson urges operators to act now to avoid even higher costs, upgrade capacity problems and aircraft grounding… istorians continue to debate whether Thomas Jefferson or Benjamin Franklin first coined the phrase “Don’t put off until tomorrow what you can do today”. Regardless of who said it first, representatives from both the FAA and EASA echoing the sentiment today. The deadline for ADS-B is fast approaching and the percentage of the business jet and turboprop fleet that still needs to perform the upgrade creates industry-wide challenges. By January 1, 2020, aircraft flying in the US must have ADS-B Out equipment installed and operational. The retrofit requirement in Europe comes into effect from June 7, 2020. Those who enjoy the challenge of arriving at

92 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

the airport 30 minutes before a flight might just find scheduling their upgrade to be a formidable task moving into 2019. Consider the following: • Only 52.5% of the business jet fleet is ADS-B compliant as of this writing. • 10% of the upgrades performed have failed regulatory testing. • Several major MROs warn customers they may not have capacity to support all of them by the deadline (many are booked well into 2019). • 94% of the installation facilities polled state that finding additional qualified technicians to perform the upgrades is proving difficult. • Installation prices are starting to increase, and equipment shortages are looming. www.AVBUYER.com

Avionics 1 Feb19.qxp_Finance 22/01/2019 09:32 Page 2

AVBUYER.com Brian Wilson is the Director, Key Accounts at Gogo Business Aviation, an industry-leading provider of in-flight 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.

This dire situation led one senior avionics sales representative to claim “Shops will be dealing with ADS-B installations for more than a year after the deadline”. That means many aircraft could be grounded for an extended period. Yet, shop managers have been telling their customers to perform the ADS-B upgrades for the past 2-3 years only to be met with general procrastination.

Impact on the Used Aircraft Market

In 2018 the used aircraft market swung from a buyers’ market to a sellers’ market, and the available aircraft inventory slipped below the 10% benchmark. Some observers anticipate that fleet retirements could be as high as 20% of the existing fleet as a result of the ADS-B fallout. New aircraft will not fill the void. Deliveries of new aircraft in 2018 were flat (compared to 2017), and the forecast for 2019 shipments is for single digit growth at best. Used aircraft buyers must now sort through aircraft that are available for sale that are also ADS-B compliant. As one senior broker told AvBuyer, “ADS-B has had a dramatic effect on sales compared to a year ago”. If there are two similar aircraft on the market and one is not ADS-B compliant, the non-compliant aircraft is quickly eliminated, or the selling price is markedly discounted. “Due to the large number of aircraft still in need of the upgrade, time must be allocated to call around, get pricing and seek possible installation slots before considering a transaction,” the broker adds. www.AVBUYER.com

“Even cash buyers do not want to purchase an aircraft unless its ADS-B complaint or has a scheduled event to perform the upgrade.” Experienced lenders are taking a more proactive stance. They’re reviewing their existing client-base and some are reaching out to ensure their clients have ADS-B upgrades scheduled before the deadline. New clients seeking funding must provide proof that an aircraft they’re acquiring is already compliant or there’s an agreed plan and timeframe in place to meet the deadline. Valuation and appraisals companies play a key role in informing banks and financial institutions on the status of ADS-B compliance on all their transactions. “Lenders will not even consider financing an aircraft without proof of compliance with ADS-B,” offers Jason Zilberbrand, president and CTO at Vref. “I do not know of any recent transaction we worked on with a lender that didn’t focus on ADSB. Lenders do not want to take the chance of adding an asset to their portfolio that could be grounded come January 1, 2020.” The ADS-B adoption rate for aircraft 10-15 years old is noticeably lower than aircraft aged 10 years or less. This becomes even more pronounced for aircraft aged 15 years or more, and it is this category of aircraft that are more prone to an early retirement.

MRO Capacity Issues

One of the fundamentals of economics is supply and demand. Operators that are still unprepared

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Avionics 1 Feb19.qxp_Finance 22/01/2019 09:33 Page 3

AVIONICS

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“Even though there is less than a year to go and avionics salespeople, estimators and managers are constantly calling their customers, procrastination is still evident.” for ADS-B compliance are about to feel the effect on their pocketbooks. Pricing for an ADS-B upgrade ranges between $50k-200k with an average price of $100k. However, speaking to a selection of MROs about possible price increases, one retorted that they had already done so. “The equipment manufacturers will raise hardware pricing in early 2019 and we will pass that onto the customer,” another explained. Documentation is getting costlier as OEMs have increased the pricing for STC certification packages and service bulletins. Labor is also getting more expensive as MROs seek to increase manpower, but are forced to pay higher wages and benefits to attract the experienced avionics technicians in a booming economy. One hiring manager told me that finding additional experienced personnel is proving “extremely difficult” and that labour rates will be adjusted accordingly. Even though there is less than a year to go and avionics salespeople, estimators and managers are constantly calling their customers, procrastination is still evident. 94 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Some operators who have an inspection scheduled for later in the year believe they will “just add ADS-B at that time”. Another common fallacy is that there’s time to spare, and that an operator “will start making some calls very soon” for quotations and available slots. Anybody delaying scheduling an upgrade at this time will be in for an unpleasant surprise with many MROs booked until late Q2 2019 and one major avionics satellite shop already booked at 85% capacity for all of 2019. Many will not take on standalone ADS-B upgrades unless they are for a highly tenured customer. The MROs are requiring – or at least giving preferential treatment – to customers who have maintenance inspections, paint or interior work scheduled in conjunction with the ADS-B upgrade. And even under those conditions, operators face being charged up to double time labour rates to get the work completed. One major MRO warns that standalone ADS-B upgrades could get pushed out to their satellite shops, potentially increasing travel time and costs to reposition an aircraft for the required work.

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“Don’t be that aviation manager who is left explaining to the boss why they’ve missed the deadline, and why their airplane is grounded.” Though the avionics manager of another satellite shop confirmed they would undertake the work, he warned that operators “…should be prepared to pay additional labour costs,” and hope they would not encounter any equipment shortage issues. Downtime to perform the upgrade typically ranges from three-to-ten working days. For installations that require minimum labour and are mostly tied to hardware upgrades, operators can choose the exchange route. Performing the exchange option reduces downtime to a few days, but at a premium of 10-25% of the cost of the installation. Operators should schedule weeks in advance of their input date to ensure exchange boxes are available. For installations that are labour intensive, operators could save some costs by forgoing the exchange route on the hardware and instead have their boxes modified. Again, proper planning is required as in most cases the hardware is shipped back to the manufacturer for modification, which typically takes 5-7 business days. Bear in mind, however, that manpower resources at the 96 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

manufacturer could be limited, and turnaround time could increase.

Act Now

One prevailing attitude surfaced among the responses of all the people spoken with in the preparation of this article: There is little sympathy for operators who have waited until 2019 to act on the ADS-B mandate. Much time and resource has been invested over the last few years on educational luncheons, road shows, marketing and cold calling programs. The MROs have done as much as is in their power to do to help operators avoid increased costs and possible delays in complying. It’s time for operators to pick up the phone and get serious about ADS-B compliance. The deadline is not going to be extended and the amount of aircraft that still require the upgrade greatly exceeds capacity. Don’t be that aviation manager who is left explaining to the boss why they’ve missed the deadline, and why their airplane is grounded. Make the call today and ensure you have a slot in 2019. ❙ www.AVBUYER.com

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Pre-Market Offering

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

How to Plan an Older Aircraft Panel Upgrade At a time when the newer used aircraft inventory is drying up, there are some common cockpit retrofits that those in the market for older business jets should consider. Mario Pierobon discusses these with two industry-leading MROs… ccording to Dave Coleman, aircraft sales and acquisitions representative at Duncan Aviation, the one thing that is clearly necessary to any buyer of a used aircraft is automatic dependent surveillance broadcast (ADS-B). “This is a must for domestic US operations and for European operations, which also require traffic collision avoidance system (TCAS) 7.1 and ADS-B. “For operating within the North Atlantic organized track system (NAT-OTS), there is also a requirement to have future air navigation systems (FANS) and controller–pilot dat alink communications (CPDLC), which is a secure satellite-based datalink messaging system like text messaging. “For aircraft going on a Part 135 certificate, Wi-Fi has also become a necessity. After that, it is down to a buyer’s preference”, Coleman says.

The Cost of Upgrade

Depending on the avionics system that is currently in the aircraft, there could be many hidden costs associated with just maintaining the avionics systems. “Depending where you are with your upgrade path, some aircraft systems will require several upgrades to meet upcoming ADS-B requirements,” offers Conrad Theisen, director of avionics sales at Elliott Aviation. www.AVBUYER.com

“These upgrades could cost an operator upwards of $200k or more. There are, however, options that an operator can take to meet the mandate that would not require upgraded equipme nt, such as the Garmin standalone remote-mount ADS-B solutions.” In addition, aging avionics systems could have parts that are expensive to maintain or have even become obsolete. “In many instances, older avionics systems can cost $30k or more per year just to maintain,” Theisen notes. “Older technology like cathode ray tube (CRT) displays, which are used for many older primary flight displays, are startin g to age out and the only long-term solution for many aircraft is to pursue retrofit programs like the Garmin G1000/G1000 NXi, G5000 or the Collins Pro Line 21. “Equipped with the right options, these systems provide ADS-B, wide area augmentation systems (WAAS) and localiser performance with vertical guidance (LPV), reduced vertical separation minima (RVSM), synthetic vision and more”, he continues. “The Gar min G1000 and G1000NXi for the King Air, for example, is one of the most popular retrofit programs in the history of avionics. With more than 500 complete installations, it replaces an entire avionics system, including the autopilot. It is safer, lighter and is more reliable. It is the

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most advanced avionics system available for the King Air. “Similar to the G1000, the Garmin G5000 for the Beechjet 400A/Hawker 400XP (and soon to be Citation Excel/XLS) is a complete avionics retrofit program, replacing all existing avionics and the autopilot. It is the most advanced avionics system available to the Beechjet 400A/Hawker 400XP and will soon be for Citation Excel/XLS too. “For the thousands of aircraft that are currently equipped with Pro Line 21, modernization allows for synthetic vision, IFIS, WAAS/LPV, ADS-B and more. For the Garmin G1000NXi, operators can expect to pay about $375k. G5000 upgrades can start around $400k and Pro Line 21 Modernization packages can range from $125k to $230k,” Theisen details.

Advantages and Benefits of Avionics Retrofit

There are multiple advantages and benefits to be derived from investing in retrofitting older aircraft. For US and European operations, regarding ADS-B one obvious pay-off is to remain airworthy. “For CPDLC and FANS, you can operate in the track system. Otherwise you must fly via the ‘blue spruce’ route, which overflies Greenland, Iceland and the Faroe Islands. While there is, of course, some safety benefit, traffic management is the primary b enefit for operators,” Coleman explains. “These systems improve the accuracy of an aircraft’s position, which allows more aircraft to operate along congested routes and airspace.” “For full cockpit retrofits like Garmin 100 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

G1000/G1000NXi and G5000, you get a lower cost of ownership,” adds Theisen, “WAAS/LPV, weight savings and options like synthetic vision, chart view (and more) are also big benefits.” There are other ways that upgraded equipment can improve an aircraft’s safety over what is already available in the cockpit of older aircraft. “Synthetic vision displays the outside conditions on your primary flight display (PFD),” Theisen explains. “This includes items like terrain and runways regardless of the outside conditions. This leads to better situational awareness, better terrain awareness and reduced pilot workload. LPV approaches lower decision altitudes on RNAV approaches to as low as 200 feet with half a mile of visibility, and this approach can get you into thousands of airports in the US and allows for an additional backup for ILS approaches.”

Overcoming the Cost Barrier

There are, of course, potential difficulties that operators may encounter when they seek to upgrade, including cost. “The cost can vary depending on the certification standard of an operator’s aircraft, the current equipment installed, and how long an operator wishes to keep the aircraft in service,” Coleman offers. “In some circumstances, the installation can be as much as 25% of the market value of the aircraft. In this case, you may wish to install only that which meets the minimum mandate requirements in order to get a few more years of use. For aircraft that still

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“It is important that technical managers know how to make the case to senior management regarding the value and the worth of retrofitting an older aircraft.” have a long life ahead of them, however, a more robust and fully-integrated solution is likely the best solution.” It is important that technical managers know how to make the case to senior management regarding the value and the worth of retrofitting an older aircraft. “The purchase of a new 6-7 seat Light Jet can cost $8m-10m,” Theisen elaborates. “Over a fiveyear period, this aircraft will depreciate 40% or more in value. That’s $3.2m-4m. Over five years, operators using the aircraft for 1,000 hours will have an additional hourly cost of $3,200-4,000 (on top of fuel, hangar, insurance, maintenance, crew, etc.). “Conversely, the purchase of a used 6-7 seat Light Jet can cost $1m-3m. You could easily add $1m to that cost in upgrades of avionics, paint and interior. Over a five-year period, this aircraft will depreciate at a much lower rate. For example, the $2m aircraft (incorporating the upgrades) might be worth $1m after five years, or the $4m aircraft (incorporating the upgrades) would be worth $2m after the same time. “Effectively, the operator of the used aircraft reduced the depreciated asset cost by half. Both aircraft started out with the state-of-the-art avionics, new paint and new interior wit h warranty on those items. “While there is the argument that the new aircraft has some additional warranty for a period of time whereas the used jet does not, it is insufficient to 102 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

make up the difference of new jet depreciation versus that of a used jet with new upgrades.” Coleman focusses on another type of cost to operators who do not upgrade their aircraft in specific areas. He highlights that it’s impo rtant to realize that the world’s air traffic management system is transitioning from a ‘first come, first served’ model to a ‘best equipped, best served’ model. “Not upgrading your aircraft to meet the demands of emerging airspace changes may result in longer and more circuitous routes, non-optimal operating altitudes, and not being able to utilize instrument approach procedures at many airports. All can increase costs, at best. At worst, they could result in you being unable to operate your aircraft where you want, when you want. “The case for value is made if the upgrade or retrofit is for mandated equipment. In the case of preferred equipment, however, it most likely boils down to the length of time you expect to own the aircraft. “If you expect to own the aircraft for several years, then you will get t he benefit of the preferred equipment, which can be tangibly off-set to the cost. The value and worth of retrofitting older aircraft is a complex financial and mission analysis that is very specific to each organization's requirements and priorities.” More information from www.duncanaviation.com or www.elliottaviation.com ❙ www.AVBUYER.com

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February 2019

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OEM Bites

Airbus Helicopters’ first serial H160 rolled off the brand-new assembly line in Marignane to perform a flight demonstration in December in front of the H160 team. The helicopter will be delivered to launch customer Babcock in 2020. www.airbus.com

Bombardier Global 7500 Entry into Service Bombardier has celebrated the entry-into-service of its award-winning Global 7500 Ultra-Long-Range and Large Cabin business jet. hroughout its entire flighttesting program, the Global 7500 demonstrated its ability to push the boundaries by exceeding its initial performance commitments. In addition to its range of 7,700nm, the Global 7500 aircraft exceeded its original take-off and landing performance commitments, leading to a new published take-off distance of 5,800 feet. The aircraft also reached Mach 0.995 only five months after the start of the flight test program, another

unprecedented achievement in a flight test program to date. In addition to its Global 7500 success, Bombardier announced the sale of four Global 6000 business jets to an undisclosed customer in a transaction valued at US$310m. And long-standing Bombardier customer Rega received a third specially configured, highperforming Challenger 650 to carry out urgent medical evacuations. More information from www.businessaircraft.bombardier.com

Compare, Contrast, Decide with AvBuyer 104 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Boom Supersonic has closed a $100m Series B investment round, bringing total funding to over $141m. The proceeds of Boom’s Series B round, which include $56m in new investment as well as previously announced strategic investments, will allow the company to advance the development of its Mach 2.2 commercial airliner, named Overture. www.boomsupersonic.com

Cirrus unveiled the SF50 Vision Jet Gen2 recently. The biggest changes to the 2019 G2 iteration of the Vision Jet are the addition of an auto-throttle to a new Garmin Perspective Touch+ flight deck, a maximum altitude increase to FL310, improved high-altitude performance of the Vision’s single Williams jet engine and a multitude of enhancements throughout the cabin. www.cirrusaircraft.com

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

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OEM Bites

Embraer expects to deliver between 90 to 110 executive jets in 2019. The company also revised its 2018 guidance for executive jet deliveries having delivered 91 total executive jets in 2018 (compared to guidance of 105-125 jets previously). As a result of the reduction in executive jet deliveries, the company expects 2018 revenues in the executive jets segment to be approximately US$1.1bn. www.embraerexecutivejets.com

Cessna Citation Longitude Achieves PTC Textron Aviation announced its Cessna Citation Longitude Super Mid-Size Jet has achieved provisional type certification (PTC) from the FAA, allowing operators to begin Citation Longitude flight training in preparation for deliveries early this year…

he PTC also paves the way for the program’s final phase of certification. Activity and interest in the aircraft remains strong. Last year, the Citation Longitude completed a world tour, circumnavigating the globe and demonstrating impressive performance figures along the way. The Longitude flight test program, including functional and reliability testing, is complete. During testing, the aircraft completed more than 1,650 flights and accumulated more than 4,050 hours. Longitude production is also underway in Textron Aviation’s manufacturing facility. Caravan Enhancements In other news, Textron will bring enhanced flight deck capabilities to new production Cessna Caravan and Grand 106 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Caravan EX platforms. The features include new standard and optional equipment as part of Garmin’s G1000 NXi next-generation integrated flight deck. Options new to the Caravan series include Garmin’s Enhanced Automatic Flight Control System (E-AFCS) with automated features designed to help pilots retain an optimal envelope. The added features include Electronic Stability and Protection (ESP), Underspeed Protection (USP), Emergency Descent Mode (EDM), Coupled GoAround, an auto-level function and Garmin’s GSR 56 Iridium Satellite Data Transceiver Link. Flight Stream 510 is now a standard feature in the Caravan along with dual audio panels with 3D audio capabilities. More information from www.txtav.com

Gulfstream has made its first international deliveries of the G500. Qatar Airways received two G500 aircraft at Gulfstream’s Savannah headquarters. The aircraft will join the five Gulfstream G650ER aircraft already in service with Qatar Executive, the airline’s executive charter business. www.gulfstream.com

Tecnam announced that the European Aviation Safety Agency (EASA) has awarded full type certification to the P2012 Traveller. With Federal Aviation Administration (FAA) certification expected to follow shortly, Tecnam is on track to commence deliveries in early 2019. The P2012 Traveller development project was officially announced in 2015, with Tecnam investing in new state-of-the-art production facilities in Capua, Italy. www.tecnam.com

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ATTEND THE 2019 NBAA HOUSTON REGIONAL FORUM Thursday, March 14, 2019 William P. Hobby (HOU)

Community News.qxp_Layout 1 23/01/2019 11:15 Page 3

COMMUNITY

AVBUYER.com Vincent Esposito - JETNET

JETNET mourns the passing of their colleague and president, Vincent Esposito. Along with his brother, JETNET executive vice president Tony Esposito, Vincent helped grow the company from a small aircraft listing service to a worldwide aviation intelligence powerhouse. He kept focus on growing JETNET’s research base, expanding its markets and products, embracing new technologies. Vincent brought a steady hand and great vision to JETNET, steering the firm to phenomenal growth, both domestically and internationally. He supported and encouraged his management team to constantly innovate and think ahead. The entire JETNET team will continue to honor and grow his legacy under the strong leadership of his brother Tony Esposito.

Lindsay Allmon has been promoted from marketing coordinator to marketing manager at Blackhawk Modifications.

Lindsay Allmon

Jeremy Cox, NAAA, has been appointed to the position of senior aircraft appraiser at VREF Aircraft Reference Value & Appraisal Services, a leading provider of aircraft valuations for the aviation industry. Prior to joining VREF, Jeremy was the vice president of JetBrokers. William R. “Bill” Cutter: We respectfully mark the passing of a lifelong advocate for general aviation, including Business Aviation, and the patriarch of Southwestern US FBO chain Cutter Aviation.

William R Cutter

Christine DeJong joins the General Aviation Manufacturers Association as director of global innovation and policy. Daron Dryer has been promoted to chief executive officer of Comlux Completion.

Jeremy Cox

Greg Evans chairman Universal Weather and Aviation has been awarded the National Business Aviation Association’s Silk Scarf Award for his contributions to the Business Aviation community throughout his career. Richard “Dick” Hart, NAAA & AM, is appointed to chief helicopter appraiser at VREF Aircraft Reference Value & Appraisal Services. Prior to joining VREF, Richard was President of National Helicopter Service & Engineering Company, Elite Helicopter Tours.

Greg Evans

Kasey Harwick has returned to Duncan Aviation’s Lincoln, Nebraska, location

108 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

and assumed the role of Vice President of Maintenance for the Airframe Department. Richard Hekker has been appointed chief executive on behalf of Air Allgäu Group, which comprises Air Allgäu GmbH, Excellent Air GmbH, Ohlair Charterflug GmbH, and Air Allgäu Flight Training GmbH.

Kasey Harwick

Michael W. Hohm, IBAC director for Liaison to the International Civil Aviation Organization (ICAO), has passed away. Dale Klapmeier will be stepping down as chief executive officer at Cirrus Aircraft during the first half of 2019. He will transition into a senior advisory role.

Richard Hekker

Scott Meyer is appointed executive vice president at the Comlux Group. He was formerly chief executive officer of Comlux Completion. Des Miles has been appointed group MRO sales director for the Luxaviation Group. Kim Stephenson has been appointed to the position of regional sales manager Canada, on behalf of Universal Avionics (UA).

Scott Meyer

Taylor Turney, industry insurance specialist, joins AVIAÂ as dedicated VP of Insurance. Timothy Wood is the new Gulfstream regional sales manager for Africa the Middle East and South Asia. Francisco Zozaya has been appointed to the new role of president of JSSI Latin America. Zozaya will also serve as senior vice president, business development & strategy for JSSI corporate. T

Francisco Zozaya

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PRODUCTS & SERVICES Duncan’s Provo Facility Welcomes First Aircraft

A Bombardier Global is the first aircraft to arrive in the first new hangar at Duncan Aviation's Provo, Utah, facility. It will undergo a 120-month airframe inspection and 10-year landing gear overhaul. Duncan completed construction and obtained necessary permits for the first hangar recently, ensuring that it would be ready for this first project. In addition, the Duncan Aviation fuel farm has been brought online and the company is now providing full fuel line service to customer www.duncanaviation.aero

Flying Colours New Hangar

Flying Colours, the North American maintenance, repair, overhaul and completions business has broken ground as work starts on building its largest hangar to date, at the Canadaheadquartered business aviation company. On completion in mid-2019 the new building will house a a climate controlled, dedicated paint-shop, a spacious hangar large enough to hold up to A220-size aircraft, as well as offices, customer meeting rooms, interiors workshops and a board room www.flyingcolourscorp.com

Global Jet’s Charter Fleet Grows

An exceptional Legacy 650 has entered Global Jet’s Fleet and is available for Charter. Based at the Nice Cote D’Azur airport, the aircraft is designed to carry 13 passengers in optimum luxury and comfort. The Legacy 650 is distinguished for its striking interior and exceeds the characteristics of its category of business jets in terms of cabin size, comfort, luggage space and reduced level of noise. The private jet is divided into three large zones; offering guests a maximum level of luxury and relaxation www.globaljetconcept.com

Gulfstream Customer Support Grows

Garmin Certifies G500H TXi

Helicopter pilots can now take advantage of the latest and version of Garmin’s G500 system, the G500H TXi. Garmin has achieved certification for the panel mounted equipment, which comes in several configurations, with 10.6-inch and 7-inch touch displays. The 7-inch screen can display either a PFD or MFD while the 10.6-inch version can display both. Along with certification came the approval for the latest GTN 650/750 software for helicopters, allowing the G500H TXi to connect to the navigators. Video cameras and night vision goggles can also be linked to the system, and Garmin’s Flight Stream 510 and Database Concierge can connect the G500H TXi with the Garmin Pilot app and other aviation apps www.garmin.com 112 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Gulfstream Customer Support organization continues to strengthen its commitment to operators by adding people, facilities and capabilities to its worldwide network. In 2018, Gulfstream announced expansion plans at four Customer Support locations: Appleton, Wisconsin; Savannah; Farnborough, England; and West Palm Beach, Florida, to accommodate growing demand from existing customers and the company’s fleet expansion www.gulfstream.com

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PRODUCTS & SERVICES Jetcraft Transaction Record

Jahid Fazal-Karim owner and chairman of global aircraft brokerage firm Jetcraft, recently announced that for the first time in their history, they completed more than 100 transactions in one year. Fazal-Karim stated “ there are no shortcuts to success. For more than 55 years, our clients have gifted us with their loyalty, trust and support. In return, we’ve been able to extend the Jetcraft family to over 20 locations across the globe. And whether we’re in Hong Kong, New York or London, the warm welcome we’ve received has helped us to become a global company without losing that essential, local feel”. www.jetcraft.com

JETNET Demonstrates New Features

JETNET the leading provider of corporate aviation information demonstrated new features and capabilities at this year’s NBAA Schedulers & Dispatchers Conference. JETNET is helping top-tier equipment providers, fuel and ground service providers, resale and finance companies, insurance and refit specialists, and maintenance shops find and analyze historical flight activity to fit their individual missions. Understanding how clients, prospects, and fleets are being utilized is a complex task that JETNET says their new software helps manage at multiple levels simultaneously by providing new ways to use flight data www.jetnet.com

TAG Aviation Extends Network

TAG Aviation has officially launched its first Fixed Base Operation (FBO) in Asia Pacific. Located in Macau, the new facility marks a major milestone for the company’s ambitions in expanding its business to meet the continuing growth in the Asia Pacific region. The facility represents the fourth FBO for TAG Aviation globally www.tagaviation.com

and is expected to close by the end of the first quarter of this year www.carlyle.com

TRAXXALL Opens New Office

Montreal headquartered aircraft maintenance tracking and inventory management system provider, TRAXXALL, has opened a new office in Denver, Colorado. The new 2,300square-foot office will be home to up to 15 employees, including TRAXXALL’s western sales and operations teams. “We are pleased to report that our client base and aircraft enrolments continue to grow,” says Mark Steinbeck, President www.traxxall.com

Vertis Adds Second BBJ

Switzerland-based Vertis Aviation, the boutique long-range charter specialist, has added a second Boeing Business Jet to its growing portfolio of large-jets available for international charter. The latest addition to the roster, operated by Bermudaheadquartered Longtail Aviation, will be exclusively marketed to the international sector by the Vertis team www.vertisaviation.com

The Carlyle Group to Acquire StandardAero

Global alternative asset manager The Carlyle Group has agreed to acquire StandardAero, a global provider of aftermarket engine maintenance, repair and overhaul (MRO) services for the aerospace and defense industries, from Veritas Capital. The transaction is subject to customary regulatory conditions 114 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

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Products & Services February.qxp_Layout 1 24/01/2019 13:33 Page 3

PRODUCTS & SERVICES Jet Aviation’s Hangar Opening

Recently, a second widebody-capable completions hangar was opened at Jet Aviations Basel Facility. The inauguration came 10 years after the Swiss business aviation services company opened its 10,000m² (108,000ft²) Hangar 7 on the EuroAirport site, one of the few completion facilities in the world able to house an Airbus A380. The new addition comes in at just under 9,000m², and will accommodate two widebody aircraft, up to the size of a Boeing 747, says Nicholas Marchais, Jet Aviation’s completions planning director in Basel www.jetaviation.com

Avfuel Blog Updated

Avfuel Corporation launched an updated blog at avfuelblog.com with a new, modern interface to more effectively connect with customers throughout the industry and facilitate knowledgesharing best practices. The AVCLUB, as subscribers are known, is open to all who wish to stay in touch with everything aviation, from Avfuel Network news, to tips and tricks for both FBOs and flight departments alike, and so much more www.avfuel.com

JSSI Upgrades Airframe Programs

UTC Buys Rockwell for $30 billion

United Technologies completed its acquisition of Rockwell Collins and announced the company's intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies. The move to turn Otis, its elevator and escalator unit, and HVAC unit Carrier into separate companies will enable UTC to better focus on its aerospace business. UTC will retain jet engine maker Pratt and Whitney and the newly formed Collins Aerospace Systems, made up of Rockwell Collins and UTC Aerospace Systems, under its portfolio www.utc.com

Jet Support Services (JSSI), the leading independent provider of maintenance support and financial services to the business aviation industry, has announced that Wi-Fi coverage is now included as a standard feature on all new airframe programs. Previously an add-on option, customers seeking airframe protection for their aircraft will now automatically benefit from Wi-Fi equipment and related component coverage at no additional cost www.jetsupport.com

Safran Launches PowerCare

Excujet Malaysia Earns FAA Approval

Safran Power Units announces the release of Safran PowerCare, a new, dedicated business jet maintenance service offering for its auxiliary power unit (APU) family. PowerCare, with Bombardier Global 7500 business jet as its first customer, is a range of efficient and cost-effective service and maintenance plans specifically designed to meet the requirements of business jet operators www.safran-aircraft-engines.com

ExecuJet, part of the Luxaviation Group, has secured the official stamp of approval from the FAA for its MRO in Kuala Lumpur, Malaysia, with the facility receiving Part 145 approval. The approval recognises the MRO facility, based at Sultan Abdul Aziz Shah Airport, as an authorised Repair Station, giving US-registered aircraft owners confidence that the facility upholds FAA-certified standards of aircraft maintenance www.execujet.com 116 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

www.AVBUYER.com

Jetsense Aviation Hawker 800XP SN 258714 February.qxp_Empyrean 22/01/2019 11:00 Page 1

S H O W C A S E

2005 Hawker 800XP Serial Number: 258714 Registration: N874TX 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 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 Program: MSP Gold MSP Gold APU Description: Honeywell GTCP36-150(W) S/N: P-825 THSN: 6262 Hours Program MSP Gold Avionics 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 2 Honeywell Mark V Transponder 2 Collins TDR-94D Mode S High Frequency Radio 2 Collins HF 9000 Weather Radar1 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 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 Service Ceiling (Ft) 41,000 Useful Payload with Fuel (Lbs) 1,706 Max Take Off Weight (Lbs) 28,000 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

AVBUYER MAGAZINE Vol 23 Issue 2 2019

117

Donath Aircraft Services January.qxp_Empyrean 22/01/2019 10:57 Page 1

S H O W C A S E

Price: $1,395,000 1989 Falcon 50 Serial Number: 197 Airframe TT: 9,973 Landings: 6,648 • Only three U.S. owners since new • One corporate owner since 2004 • Engines and APU on MSP Gold • WAAS/LPV • ADS-B Out • TCAS 7.1 • XM Weather capable • N1 Engine DEECs Engines Honeywell TFE 731-3-1C Enrolled in MSP Gold #1 Engine #2 Engine #3 Engine Hours 9,288.4 9,625.2 9,740.0 Cycles 6,276 6,304 6,452 #1 Engine CZI Next Due 9,654.8 hrs #2 Engine CZI Next Due 10,691.4 hrs #3 Engine CZI Next Due 12,147.8 hrs APU Garrett GTCP36-100(A) Enrolled in MSP Gold Serial Number P-290 Hours Since New 5,508.4 Hot Section Due 5,732.9 hrs Avionics Flight Displays: (2) Collins EFIS 86C FMS: (2) UNS-1Lw GPS: (2) Universal GPS w/ WAAS/LPV IRS: (2) Honeywell Laseref AHRS: Collins AHC-85 Autopilot: Collins APS-85 VHF Comm: Collins VHF 22D w/ 8.33 Spacing

Satcom: Aircell Axxess Iridium (2) King KTR-953 w/ Selcal HF Comm: Transponders: (2) Collins TDR-94D DME: (2) Collins DME-42 ADF: (2) Collins ADF-60 NAV: (2) Collins VIR-32 ADC: (2) Collins ADC-82C Additional Equipment/Options WAAS/LPV. ADS-B Out. TCAS 7.1 XM Weather Capable Aircell Axxess Iridium Satellite Phone System Three Life Rafts. Therapeutic Oxygen LED Navigation and Taxi Lights Pulse Lights. Wing Ice Detection Lights Upgraded Falcon 2000-Type Forward Drain Mast N1 Engine DEECs Paint 2005, Duncan Aviation: Matterhorn White with Red, Yellow and Blue stripes Interior 2002 (Soft Goods), Dassault Falcon Service. Carpet replaced 2008, West Star Aviation Configuration Nine passenger seating with side facing 3rd crew member seat. Forward: Four-place club arrangement with pull-out table for each seating group. Aft: Two-place club seating on left side, opposite a 3-place divan Entertainment Cabin Flight Display System with Moving Maps CD/DVD. XM Radio Forward 15.1” and Aft 17” LCD Displays

Donath Aircraft Services Contact: Jim Donath

118 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Tel: +1 (773) 935.9871 Email: jimdonath@donathaircraft.com www.donathaircraft.com

www.AVBUYER.com

AeroBuyNow February.qxp 22/01/2019 11:02 Page 1

S H O W C A S E

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

50000293 F-HFFD 952 868

• 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 4,047 3,573

• 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 www.AVBUYER.com

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

AVBUYER MAGAZINE R Vol 23 Issue 2 2019 R

119

Mesotis February.qxp 23/01/2019 12:35 Page 1

S H O W C A S E

1999 Cessna Citation Bravo Serial Number: Registration: Airframe TT: Landings:

550B-0865 OM-ATS 6703 6238

EU-OPS 1 COMPLIANT • ENGINES ON POWER ADVANTAGE • AIRFRAME ON PROPARTS • INTERIOR PARTLY REFURBISHED • UNIVERSAL UNS-1LW WITH LV/LPW MONITOR • LIFEPORT STRETCHERS AND OXYGEN DISTRIBUTION SYSTEM

Engines Engines 1 / 2: 6393 / 6196.1 Cycles 1 / 2: 5991 / 5825 Last actuals as of October 2018 Avionics Honeywell Avionics Suite • COM 1 & 2 Honeywell KY196B • NAV 1 & 2 GS 1 & 2 Bendix-King KN53 • ADF Bendix-King KR87 • DME 1 & 2 DM441B • Marker KMR675 • FMS GNS-XLS • XPDR Mode S EHS MST67A • ENCODER 1 & 2 AZ850 • Radio Altimeter Collins ALT55B • Wx-Radar Honeywell Primus 660

• Autopilot IC 600 • TCAS II change 7 TPU 67A • EGPWS Honeywell Mk. VII • SSFDR Fairchild 980-4700-025 • CVR L3 Communications A 200S • ELT Artex C406-2 • Audio Intercom AvTech 5636-1 • EFIS / FMS Honeywell Primus 1000 Suite • FLT- & MFD Display Honeywell DU-870 Interior & Entertainment EXTRAORDINARY CABIN DESIGN Eight seats configuration: • One forward rear facing seat • Four place forward club • Two facing single seats • One belted lavatory seat

2002 Cessna Citation Bravo Serial Number: Registration: Airframe TT: Landings:

550B-1040 OM-ATN 6517.5 5989

• EU-OPS 1 Compliant • 100% JSSI on Engines • Lifeport stretcher and oxygen distribution system • No damage history

Avionics & Connectivity Honeywell Avionics Suite COM 1&2 Honeywell KY196B NAV Antenna ADF Receiver KR87 DME Antenna Marker KMR 675 UNS FMS Control Display Unit NAV FMS Control Radio Altimeter Receiver/Transmitter Honeywell Primus 1000 Phase III Autopilot control PC-400 TCAS II GPWS/EGPWS Computer FDR/SSFDR

Mesotis Jets Thomas Thums Fleischmarkt 7/3 1010 Vienna Austria

120 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

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

www.AVBUYER.com

Jet HQ February.qxp_Empyrean 24/01/2019 09:45 Page 1

S H O W C A S E

2009 Hawker 900XP Serial Number: Airframe TT: Landings:

HA-148 2,065 645

 Low Time – 2,065 Hours  Program Enrolled – Airframe / Engines / APU  Immaculate Paint & Interior Condition  Family owned and used since new  E1-E12 Inspections completed (August 2018)  Maintenance Tracking: CAMP Programs Airframe: Beechcraft ProAdvantage (ProParts & ProTech) Engines: Honeywell MSP Gold APU: Honeywell MSP Gold Engines Honeywell TFE731-50R-1H Left engine Right engine Total Hours: 2,047 2,047 Total Cycles: 640 640 Program: MSP Gold APU Honeywell GTCP36-150 Total Hours: 1,145 Program: MSP Gold Avionics Rockwell Collins Proline 21-4 Dual Collins VHF-4000 Digital Comm Dual Collins DME-4000 Collins ALT-4000 Altimeter Collins ALT-4000 Altimeter Collins TCAS-4000 with change 7 Honeywell Mark V EGPWS

Dual Collins FMS-6000 (P-RNAV) Dual GPS-4000Swith Dual WAAS Collins TWR-850 Extended Frequency Range Radios (Additional) Honeywell Solid State FDR (SSFDR) (Additional) Worldwide Weather with ACARS in-flight comm services Additional Features Paperless Cockpit Cabin Audio/Video Entertainment System (Airshow 4000 with Flight Deck Controller) 2nd 15” LCD Monitor Auxiliary A/V Package AirCell ST3100 with Cordless Cabin and Cockpit Handsets Cabin/Vestibule Hinged Door Additional Stowage Drawers Under Each Club Chair (4) Drop Down Inboard Armrests (All Individual Seats) Lift Raft – 6 person (9 Overload) Subscriptions Camp Maintenance Rockwell Collins ARINC (Gold) Honeywell Technical Publications Jeppesen Gogo Interior Eight (8) Passenger Executive Interior Configuration Five individual seats and an aft three-place divan Forward cabin four-place arrangement Aft cabin single seat opposite the left side threeplace divan All individual seats feature drop-down inboard armrests

Jet HQ Allan Stanton President & Co Owner Dubai, UAE www.AVBUYER.com

Mob: +971 50 653 5258 Email: info@jethq.com

AVBUYER MAGAZINE Vol 23 Issue 2 2019

121

LIS Trading Group February.qxp 23/01/2019 12:07 Page 1

S H O W C A S E

Bombardier Global 5000 Serial Number: Airframe TT: Landings:

9324 3883 1365

Batch 3.0 update Compliant INSERVICE DATE: 23-JUN-2010 Price: $15,500,000 Engines Enrolled on Rolls Royce Corporate Саге #1 ENGINE HOURS SINCE NEW: 3883 hrs/ 1365 cycles #2 ENGINE HOURS SINCE NEW: 3883 hrs/ 1365 cycles

APU Enrolled on Honeywell APU Program HOURS SINCE NEW: 3883 HRS CYCLES SINCE NEW: NA Avionics & Connectivity OTHER AVIONICS / ELECTRICAL SYSTEMS Satellite Communication System (SATCOM) - Satellite Communication System and High Speed Link (SAT-6100) - Three (3) channels Aero Н+. Data channel supports ACARS - One single channel lridium based airborne telephone. - РВХ (Aerocom 3000В). - Four passeners cabln handsets. - Dual channel high speed data system.

Cabln power bus disconnect. llluminated approach chart holders for pilot and co-pilot Flight Observer Seat Audio Panel located on the cockpit pedestal One power converter (3500VA/115V/60Hz) Cockpit analog telephone jack and loose equipment telephone handset EICAS small service door "OPEN" annunciation Power Distribution of aircraft А С and D C power. 115 VAC GFI electrical outlets located as follow: - А dual outlet in each lavatory and at the Gallery - А single outlet at each single seats and outboard double seats - А single outlet located adjacent to each cockpit seat - Batch 3.0 update Compliant

2018 Honda Hondajet Serial Number: Registration: Airframe TT:

4200094 9H-AOE 40

430 000 USD IN OPTIONS ( PLEASE REQUEST THE LIST ). EASA CERTIFIED. DELIVERY APRIL 2018 Price: $4,600,000

Avionics & Connectivity Garmin 3000 Com Dual Garmin GIA 63W Nav Dual Garmin GIA 63W Transponder Dual Garmin GTX 3000 EGPWS Garmin TAWS A DME Collins DME 4000 FMS Garmin TCAS Garmin TCAS II Radar Garmin GWX 70 Rad Alt Garmin GRA 5500 CVFDR Universal CVFDR 145R Audio Panel Garmin GMA 36

LIS Trading Group Ltd Presnenskaya nab., 8/1 Moscow, 123317, Russian Federation

122 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Interior & Entertainment 5 passenger interior in Moonlight with club four arrangement and side-facing seat opposite the door. Grey carpet. Left and right hand executive tables. Siderails with 2 x cubbies (pockets) per side. Forward left and right hand carbon storage cabinets with enhanced cabin management system. Aft externally serviced toilet with vanity and solid bulkhead with sliding door

Tel: +7 985 766 12 92 Email: rm@listgl.com www.listgl.com

www.AVBUYER.com

Al Jaber Aviation February.qxp_Empyrean 23/01/2019 16:00 Page 1

S H O W C A S E

2010 Embraer Linage 1000 Serial Number: Registration: Airframe TT: Landings:

261 A6-AJI 3766 1068

 The aircraft “will be delivered fresh out of M-8 Inspection” and “with ADSB-Out” • For sale directly by owner • Asking price $20,900,000 • Low time • On Programs Engines Enrolled on GE OnPoint Program Left engine Right engine Total Hours: 3766 3766 Total Cycles: 1068 1068 Make/Model: GE/CF34-10E78 APU PWC/APS2300 Serial Number: HSCE1023797 Total Hours: 3794 Program: 3034 Avionics Lineage 1000 Honeywell Primus Epic Avionics Suite, Fly-by-wire technology, Steep approach capability Dual Honeywell DF-855 ADF Dual Honeywell TR-865A & TR-865B VHF Standby Magnetic Compass Dual Honeywell DM-855 DME 5-tube EFIS

5-tube Flight Director Audio International (cordless) Flight Phone Dual FMS Dual Honeywell GPS w/Honeywell Antenna Dual Honeywell KRX-1053 HF w/SELCAL Dual Honeywell IRS Dual Honeywell VHF NAV Honeywell Radar Altimeter Iridium ICS-400 & PABX SATCOM EGPWS w/Windshear Honeywell TCAS-2000 Dual Honeywell XS-857A Mode S Transponders Primus 880 Weather Radar w/Turbulence Interior & Entertainment Configuration/PAX VVIP/19 Passengers TTL Seating - Forward meeting area, dining & conference suite, mid-cabin 4-place club, aft-4place club, divan & 6-place conference group, aft divan opposite 2-place club, observer seat, flight attendant seat. Forward galley: 2 ovens, microwave oven, chiller, coffee brewer, espresso maker . Forward 17-inch video monitor, mid-cabin 42-inch monitor, additional aft 23-inch mid-cabin monitors entertainment cabinets, dual Audio International CD players, Airshow 4000 (lineage premium worldwide package), three multi-region DVD players, iPOD, external audio/video connectivity, Hi-Fi stereo surround sound, SATCOM, highspeed data w/wireless LAN Business- fax machine, laptop connections

Al Jaber Aviation LLC Mr. Bilal Yousuf P.O. Box 95220, Al Bateen Airport Abu Dhabi United Arab Emirates www.AVBUYER.com

Tel: +971 (50) 813-3029 Email: bilal.yousuf@ajaprivatejets.com www.ajaprivatejets.com

AVBUYER MAGAZINE Vol 23 Issue 2 2019

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M A R K E T P L A C E

Bombardier Learjet 31A

Aerius Management Price:

Make Offer

Year:

1992

S/N:

060

Reg:

N52SY

TTAF:

6940.3

Location: USA

Bombardier Challenger 300

Tel: +1 (206) 612 5729 E-mail: ryan@aeriusmanagement.com LPV Approach Capable (UNS-1Ew WAAS/SBAS FMS/GPS) -2C Engine Upgrade Program Complete. -2C Engines Qualify for Reduced MSP Rates. Engines on MSP Gold. Gogo ATG-5000 Wireless Internet with Text & Talk. Mid Continent USB Charging Outlets (8) in Club & Cockpit. KGS SS50 60 Cycle Inverter & Cabin Outlets. SB 31-8-2 (Increased Gross MTOW 17,700 Pounds). Dee Howard TR-4000 Thrust Reversers. Raisbeck Aft Ventral Locker & Fin. Single Point Refueling. N1 Digital Electronic Engine Computers (DEEC). 36-Inch Main Entry Door. RVSM Capable. XM Weather. CAMP Maintenance Tracking

Tel: +961 358 5200 E-mail: s.sarkissian@tamar.capital

Shahan Sarkissian Price:

Please Call

Year:

2009

S/N:

20233

Reg:

T7-TOP

TTAF:

3803

Location: Lebanon

Bombardier Global Express XRS

Airframe Total Time: 3812 Total Landings: 1738 Maintenance Tracking: Camp Parts Maintenance Program: SMART PARTS Airframe: 3812 TT/ 1738 Cycles Engine Engines HONEYWELL HTF7000 ON MSP Gold TT 3812 . TC 1757 APU HONEYWELL 36-150BD ON MSP TT 2847 Avionics Avionics Packaging: Rockwell-Collins Avionics Maintenance Program: SMART PARTS CPDLC: Yes Avionics/Radios: Proline 21 suite. CPDLC Link 2000 Exterior Painted: 2017 Interior Seats: 8 Galley: Yes Lavatory: Yes

Tel: +852 34 61 99 28 E-mail: airworthiness@avionjet.asia

AvionJet Price:

$18,500,000

Year:

2010

S/N:

TBD

Reg:

VP-C

TTAF:

2903

Brand New Interior Refurbishment (2018) Manufacture Date 31 Oct 2010 Private Use Only FANS 1/A CPDLC

Location: Hong Kong

Cessna Citation CJ2+

Marius Eksteen

ADS-B Out

Tel: +27 51 405 0900 E-mail: marius@diysuper.co.za

Price:

$3,695,000 Excl. VAT Single Crew Certified. TAP Advantage Blue • Garmin GPS500

Year:

2009

S/N:

525-0458

Reg:

ZSDIY

TTAF:

446.5

Location: South Africa

• Lead Acid Battery • Side Facing Seat • FADEC Engine Controls. Delivery from South Africa can be arranged. AIRFRAME: 357 cycles. Avionics Package : Collins Pro Line 21. 8x10-inch multi-function display. Dual flight guidance computers. Dual digital air data computers. Dual radio tuning unit. Electronic Standby Instrument System. Beautifully appointed beige leather seats. 7+1 enhanced surveillance passengers in cabin. Original 4-place VIP ADF: Single Collins seating configuration, 2 seats forward facing, right hand side facing seat and a belted toilet. Aft Cabin Sliding Doors

Cell: +27 83 277 1122

BAe Avro RJ70

Aircraft Lease Price:

$5,000,000

Year:

1994

S/N:

E1258

Reg:

LZ-TIM

TTAF:

23368

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

Location: Bulgaria

124 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

www.AVBUYER.com

P124-128.qxp 22/01/2019 12:58 Page 2

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

Beechcraft King Air 250

POL-MOT Holding S.A. Price:

$3,750,000

Year:

2016

S/N:

BY-259

Reg:

SP-URS

TTAF:

390

Tel: +48 600 474 856 E-mail: w.dobrze@icloud.com

Excellent Condition & maintained by Beechcraft Berlin. Only one owner since new. Aircraft has never been used for charter, always hangared in heated hangar. No damage history Pro Line Fusion system with three 14.1 inch touchscreenenabled displays. Engines Enrolled on Beechcraft PowerAdvantage programm. ADS-B Compliant. Two GPS. Phase 1-2 Inspection completed

Location: Poland

Beechcraft King Air C90GTx

Jetavia Ltd Price:

$2,200,000 Excl. VAT

Year:

2011

S/N:

LJ-2032

Reg:

SP-MHK

TTAF:

675

Location: Poland

www.AVBUYER.com

Tel: +44 (0)7727 101 531 E-mail: info@jetavia.co.uk Collins Proline 21 Avionics. Low Total Time of ony 670 Hours Engines Enrolled on ESP Gold Program Only One Previous Owners. EU OPS Compliant Beechcraft Berlin Maintained Phase 1 Inspection c/w October 2018 Phase 2-4 Inspections c/w December 2017 Immaculate Condition No Damage History Always Hangared

AVBUYER MAGAZINE R Vol 23 Issue 2 2019 R

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M A R K E T P L A C E

Airbus H125 Price:

€2,407,425

Year:

2018

S/N:

859X

Reg:

B-70XX

TTAF:

Location: China

Airbus H130 Price:

€2,890,000

Year:

2018

S/N:

861x

Reg:

TTAF:

Tel: +86 189 66759124 E-mail: info@heliflitechina.com The H130 is certified with a pilot being on the left side. The baseline aircraft is delivered with left side controls and capabilities for the removable dual controls (copilot controls are optional). Anti-Vibration Control System with 1 controller, actuators and Accelerometers. Fuselage comprising the cabin and 3 luggage holds, with floor tie down nets and access doors. Tail boom with stabilizer, FENESTRON type anti torque rotor, and tail skid. Tubular skid landing gear, with replaceable skid shoes, with long footsteps (on right and on left side), profiler on rear tube, capable of taking handling wheels. Lifting points. Mooring fixtures. Single color exterior painting .Internal paint: light grey (prevailing colour). Interior signs and markings: available in either French or English.

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

Wesley Stone Price:

$1,875,000

Year:

2004

S/N:

36329

Reg:

N8346A

TTAF:

3,195

Location: USA

Agusta A109

Immediately delivery. Condition:Brand New. Engine: Turbomeca ARRIEL 2D turboshaft engine complete with starting, fuel supply and dual channel digital engine control system (FADEC) and 1 back-up control that automatically controls the engine in case of total failure of the 2 digital channels of the FADEC. Avionics/Radios: Avionics meter switch•Gyro-Horizon•GyroDirectional•Course deviation indicator. Additional Equipment: First aid kit•Enhanced Engine Air Particle Separator•Heavy duty blade pins•Pilot’s Windshield Wiper•Starter-generator 200A. Exterior: White with blue stripes. Interior: Grey

Cong Li

Location: Hong Kong

Bell 412 EP

Tel: +86 189 66759124 E-mail: info@heliflitechina.com

Cong Li

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: +33 (0) 648 225 657 E-mail: jmthual@alan-allman.com

Thual Jean Marie Price:

€2,452,291 Excl. VAT Excellent Quality, Just exited from Leonardo Company on 1st

Year:

2002

S/N:

11062

Reg:

F-HJMT

TTAF:

280

July 2018 with new cell, new paint, new seats, Full IFR, Radar weather, One engine Pratt 206 C with 280 hours, One engine Pratt 206 C with 1650 hours, Just finished annual visit 12 months and 24 months, on 1st October 2018 TTAF 280 H engines and 3500 H the Cell

Location: France

Robinson R66

Ferris Kauley Price:

$815,000 Excl. VAT

Year:

2011

S/N:

Reg:

N383GG

TTAF:

Location: USA

126 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

Price Reduced

Tel: +61 416 500 369 E-mail: rotorfk@gmail.com Freshly Fully Overhauled like new with new 12 years and 2000 hrs life to go. This is a rare opportunity to acquire this beautiful and very capable R66 Helicopter at a substantial discount from new. Air Conditioning Factory New interior with Grey carpet and grey leather. King radio and Garmin transponder. Metallic Black paint with silver accent stripe. Helicopter located Baton Rouge Airport, Louisiana, USA

www.AVBUYER.com

P124-128.qxp 22/01/2019 16:03 Page 4

Beechcraft King Air 200

Bart Lubitz Price:

$2,150,000 Excl. VAT

Year:

2004

S/N:

BB-1861

Reg:

SP-RPW

TTAF:

2804

Location: Poland

Airbus/Eurocopter AS 355N

M A R K E Tel: +48 533 538 071 T E-mail: pr@wiss.com.pl P L Engines: Pratt & Whitney PT6A-42. Propellers: Hartzell A HC=E4N-3, Propellers inspected in 2017. Landing Gear C Overhaul done in 2017. No damage history. Always kept in a E hangar - Privately owned by one family. Only four pilots. Very well-kept interior - leather ( 4 club seating with tables and two single aft facing seat ) 1 belted side facing lavatory seat. Hot liquid and ice drawer, 115V power outlets. Exterior - snow white with red stripes. Collins Pro Line 21. Collins VHF-4000. Nav1/Nav2 - Collins NAV-4000. Dual in Nav-4000/4500. Single Collins DME-4000. Compass - Dual Collins AHRS

Tel: +33 (0) 385 469 393 E-mail: apillot@procoptere-aviation.com

JEAN MARC REDON Price:

Make Offer

Year:

2002

S/N:

5225

Reg:

F-GJSE

TTAF:

3254

FOR IMMEDIATE SALE 6 PAXS OVERHAUL 12 YEARS 2018 BRAND NEW PAINT

Location: France

IMMEDIATE AVAILABILITY

Cell: +33 (0) 607 271 575

Agusta AW109 Grand New

HERREOS Price:

€3,950,000

Year:

2012

S/N:

22283

Reg:

D-HHHC

TTAF:

368

Location: Germany

Bell 212

Jayrow Helicopters Price:

Please Call

Year:

1978

S/N:

30900

Reg:

VH-JJY

TTAF:

11,437

Location: Australia

Matt Tonks

Airbus/Eurocopter EC 120B

Excellent Condition "as good as new". Always hangared. Avialable immediately. AVIONICS:•Cockpit Central Display 8.4” •Traffic Avoidance System AVIDYNE TAS 620 (presented on EFIS)•Weather Radar RDR 2000 Bendix/King•Digital Map Euronav V Euroavionics interfaced to FMS (presented on 8.4” display)•Enhanced Vision System (EVS) EVS-1500 Max-Viz (presented on 8.4” display). INT:•Elite” Interior VIP 5 Places. ADDITIONAL EQUIPMENT:•Emergency Floats Provision•213 USgal crash-resistant fuel system (in lieu of 152 USgal• Baggage Compartment Extension (2.3 m)

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

Tel: +44 (0)151 448 0388 Email: mtonks@helicentre.com

Price:

£490,000 Excl. VAT High spec, good components. Fresh gearbox o/h.

Year:

1998

S/N:

1006

Reg:

G-OMEM

TTAF:

2200

Location: UK

www.AVBUYER.com

Tel: +49 (0) 171 7137167 E-mail: sales@herreos.eu

Recent black paint and tan leather interior. Hangared. AOC equipped. Available with or without ongoing AOC leaseback. Contact Helicentre 0151 448 0388 or info@helicentre.com for more information

AVBUYER MAGAZINE R Vol 23 Issue 2 2019 R

127

P124-128.qxp 24/01/2019 09:39 Page 5

M A R K E T +1 832 934 0055 P Alberth Air Parts L A C •BUY •SELL •TRADE E

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Donath Aircraft Services...........................75, 118 Duncan Aviation ...........................................26 - 28 Eagle Aviation........................................................19 EBACE ...................................................................29 ElliottJets ...............................................................23 Engine Assurance Program ...............................87 Freestream Aircraft ..............................................43 General Aviation Services ..................................91 Global Jet Monaco .......................................... 5 - 7 Hatt & Associates.................................................21 JetAVIVA .................................................................81 JetBrokers .....................................................60 - 61 Jetcraft Corporation ..........................52 - 53, 132 Jeteffect .........................................................54 - 55 JetHQ ...................................................................121 JETNET...................................................................70 Jet Sense Aviation..............................................117

JSSI (Jet Support Services)...............................95 Leading Edge Aviation Solutions......................83 Lektro....................................................................103 LIS Trading Group .............................................122 Mesotis Jets ........................................................120 NBAA Regional ..................................................107 OGARAJETS ...............................................38 - 39 Par Avion ................................................................57 Sky Aviation Holdings .........................................71 SmartSky Networks .............................................17 Sparfell & Partners ......................................44 - 45 Textron Aviation Pre-Owned ..............................49 The Elite London ................................................115 The Jet Business..........................................36 - 37 VREF ....................................................................103 Wright Brothers Aircraft Title ..........................101

Copy date for the March 2019 Issue - Wednesday 13 February 2019

Compare, Contrast, Decide with .COM PROUD MEMBERS OF

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AvBuyer (USPS 014-911), February 2019, Vol 23 Issue No 2 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.

128 Vol 23 Issue 2 2019 AVBUYER MAGAZINE

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P129.qxp 24/01/2019 11:35 Page 1

Aircraft For Sale • AIRCRAFT • HELICOPTERS

AIRCRAFT

PAGE

AIRBUS ACJ 318 . . . . . . . 37, A318 Elite . . . . . 5, A319 . . . . . . . . . . 44, A319CJ . . . . . . . . 65, A319 VIP . . . . . . 5, A380-800 . . . . . . 44,

BAE AVRO RJ70. . . . . 65, 124,

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 5, 37, DC8-72 VIP . . . . 97, 737VVIP . . . . . . . 97, 747-8 . . . . . . . . . . 44, 757 . . . . . . . . . . . 31, 767-200ER . . . . . 31, 787-9. . . . . . . . . . 53, 132,

BOMBARDIER Global 5000 . . . . 5, 52, 53, 60, 65, . . . . . . . . . . . . . . . 122, 132, Global 6000 . . . . 5, 31, 52, 53, 132, Global 7500 . . . . 5, Global Express . 36, 53, Global Express XRS. . 5, 10, 43, 53, . . . . . . . . . . . . . . . 124, 132,

Challenger 300 350 600 604 605 650

. . . . . . . . . . . 36, 124, . . . . . . . . . . . 11, 36, . . . . . . . . . . . 60, . . . . . . . . . . . 52, 65, 75, . . . . . . . . . . . 1, 30, 31, 52, 54, . . . . . . . . . . . 52, 53, 132,

Learjet 31A . . . . . . . . . . . 19, 60, 124, 35A . . . . . . . . . . . 60, 36A . . . . . . . . . . . 125, 40XR . . . . . . . . . . 55, 45 . . . . . . . . . . . . 53, 55, 132, 45XR . . . . . . . . . . 54, 81, 55 . . . . . . . . . . . . 61, 60 . . . . . . . . . . . . 71,

CESSNA Citation II . . . . . . . . . . . . . 61, III . . . . . . . . . . . . . 27, 60, 61, 91, V. . . . . . . . . . . . . . 60,

AIRCRAFT

PAGE

VI . . . . . . . . . . . . . 61, X . . . . . . . . . . . . . 12, 55, XLS . . . . . . . . . . . 23, 27, XLS+ . . . . . . . . . . . 5, CJ1. . . . . . . . . . . . . 23, 61, CJ2. . . . . . . . . . . . . 23, CJ2+ . . . . . . . . . . . 124, CJ3. . . . . . . . . . . . 12, 19, 57, Bravo . . . . . . . . . 12, 53, 120, 131, . . . . . . . . . . . . . . . 132, Encore . . . . . . . . 12, Excel . . . . . . . . . . 28, 55, Jet . . . . . . . . . . . . 19, 119, Mustang. . . . . . . . 65, 81, Sovereign. . . . . . 23, Sovereign+ . . . . 55, 560XLS. . . . . . . . 28,

Pistons T182T . . . . . . . . . . 19, 182S . . . . . . . . . . 19, T206H . . . . . . . . . 60,

Turboprops A185 E . . . . . . . . 60,

CIRRUS SR20G2 . . . . . . . 19, SR22G3 . . . . . . . 19,

DAHER SOCATA TBM700A . . . . . . 65, TBM700B . . . . . . 19, TBM930 . . . . . . . 23,

AIRCRAFT

PAGE

2000EX EASy II 21, 2000LX . . . . . . . . 5, 2000LXS. . . . . . . 53, 132,

DORNIER 328 JET. . . . . . . . 19, 328-310 . . . . . . . 27,

7X . . . . . . . . . . . . 2, 11, 53, 65, 130, 8X . . . . . . . . . . . . 11, 131, 20C-5 . . . . . . . . . 60, 20F . . . . . . . . . . . 60, 50 . . . . . . . . . . . . 26, 38, 61, 65, 91, . . . . . . . . . . . . . . . 118, 130, 50EX . . . . . . . . . . 2, 12, 26, 54, 130, 900 . . . . . . . . . . . 130, 900B . . . . . . . . . . 11, 130, 900C . . . . . . . . . . 130, 131, 900EX . . . . . . . . . 130, 900EX EASy . . . 3, 11, 36, 130, 131, 900LX . . . . . . . . . 2, 130, 2000 . . . . . . . . . . 3, 11, 26, 132, 2000EX. . . . . . . . 36, 2000EX EASy . . 3, 11,

PAGE

HONDA JET . . . . . . . . . . . 67, 81, 122,

IAI Westwind II . . . . 60,

NEXTANT

EMBRAER

400XT . . . . . . . . . 21,

Legacy 500 . . . . 12, 26, 37, 53, 132, Legacy 600 . . . . 45, Legacy 650 . . . . 5, 6, 44, 60, 65, Lineage 1000 . . 37, 44, 123, Lineage 1000E . 131, Phenom 100 . . . 119, Phenom 100E . . 81, Phenom 300 . . . 97, 132,

PILATUS PC12/47E. . . . . . 53,

PIPER Cheyenne IIIA . . 60, Meridian . . . . . . . 60,

GULFSTREAM IV . . . . . . . . . . . . . 53, 132, IVSP . . . . . . . . . . 10, 11, 31, 67, V. . . . . . . . . . . . . . 10, 37, 43, 67, 83, . . . . . . . . . . . . . . . 97, 131, 150 . . . . . . . . . . . 53, 60, 200 . . . . . . . . . . . 10, 54, 97, 400 . . . . . . . . . . . 83, 450 . . . . . . . . . . . 36, 43, 67, 83, 500 . . . . . . . . . . . 54, 550 . . . . . . . . . . . 5, 7, 10, 43, 44, 53, . . . . . . . . . . . . . . . 67, 131, 132, 650 . . . . . . . . . . . 132,

HAWKER BEECHCRAFT DASSAULT FALCON

AIRCRAFT

King Air 200 . . . . . . . . . . . 60, 127, 250 . . . . . . . . . . . 52,125, 350 . . . . . . . . . . . 21, 60, 67, B200 . . . . . . . . . . 45, 67, C90 . . . . . . . . . . . 60, 67, 125, C90B. . . . . . . . . . 53, 60, 132, E90 . . . . . . . . . . . 65,

Beechcraft Premier IA . . . . . 65,

Hawker 400XP . . . . . . . . . 23, 60, 400XPR . . . . . . . 12, 800A . . . . . . . . . . 91, 800XP . . . . . . . . . 21, 27, 38, 67, 91, 850XP. . . . . . . . . 27, 31, 900XP . . . . . . . . . 23, 67, 121, 4000 . . . . . . . . . . 28,

HELICOPTERS AIRBUS/ EUROCOPTER AS355N . . . . . . . 127, AS365N-3 . . . . . 67, EC 120B . . . . . . . 127, H125 . . . . . . . . . . 52, 126, H130 . . . . . . . . . . 126,

AGUSTAWESTLAND AW109 . . . . . . . . . 126, AW109E Power . 45, AW109 Grand . . 127, AW109SP . . . . . . 27, AW109S Grand . 45, A119 Koala . . . . 53, 67, 132, AW139 . . . . . . . . 45,

BELL 212 . . . . . . . . . . . 125, 127, 212EMS . . . . . . . 125, 212 EP . . . . . . . . 67, 407 . . . . . . . . . . . 53, 132, 412EP . . . . . . . . . 126,

ROBINSON R66 . . . . . . . . . . . 126,

SIKORSKY S-76C+ . . . . . . . . 12, S-92A . . . . . . . . . 12,

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129

21st Century January.qxp 18/12/2018 11:55 Page 1

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' '/ ' % 22 ' & $2

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CBJ November.qxp_CBJ November06 15/10/2018 16:12 Page 1

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2017 FALCON 8X SN 415

EMBRAER LINEAGE 1000E

Single United States Owner with 311 Hours and 152 Landings ….. Paint and Interior Warranties until September 2019 … 16 Pax configuration w/30” crew Lav and 62” aft Lav … Incredible Cockpit including FalconEye

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GULFSTREAM G550 SN 5210

GULFSTREAM V SN 593

2,391 Hours Total Time, Forward Galley with Crew Rest, dual aft divans, Synthetic Vision, Satellite TV, Rolls Royce Corporate Care, ADS-B Out, FANS 1A/CPDLC. Single Forbes 500 owner since new

2 Owners since new.. 6,500 Hours, 3900 Landings … Rolls Royce Corporate Care, Honeywell HAAP, Forward Galley w/Crew Lav, Crew Seat and Closet … Double Club configuration with dual aft 4 place couches … Certified for 19 Pax

2002 FALCON 900C SN 194

CITATION BRAVO SN 994

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

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