FC January AFC - black logo.qxp_FC December 06 20/12/2018 09:44 Page 1
January 2019
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ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION
THIS MONTH Where is Business Aviation Heading in 2019? After 20 Years in the Industry and Over 90% Retention Rate, Aircraft Finance Corporation are Leaders in Financing New and Pre-owned Aircraft See pages 13 for further details
Jet Comparison: Phenom 100EV vs HondaJet Is a Business Jet Lease Right for You? www.AVBUYER.com
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THE BEST JETS FROM THE PEOPLE WHO KNOW THEM BEST.
FALCON 900DX • • • • • •
2007 – S/N 616 3,744 hrs. / 1,944 cycles
14 passengers with Forward and Aft lavatories EASA / EU-OPS1 compliant EASy II (Baseline, LPV, ADS-B Out, CPDLC ATN-B1 & FANS 1/A+) 3 FMS, 3 IRS, 3 VHF, Satcom Iridium Level D Engines and APU on MSP Gold FalconCare enrolled, 2C due in February 2020
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
VISIT DASSAULTFALCON.COM/PREOWNED I FRANCE: +33 1 47 11 60 71 I USA: +1 201 541 4556
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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 2000 • • • • •
2007 – S/N 113 2,516 hrs. / 906 cycles
2004 – S/N 208 6,270 hrs. / 3,937 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
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Editor Welcome Jan19.qxp_JMesingerNov06 18/12/2018 12:18 Page 1
Guest Editor’s VIEWPOINT
Per Marthinsson
Is Business Aviation Ready for the Challenges Ahead? he latest statistics show real evidence, not just hope, that global Business Aviation is recovering after many difficult years. So how can the industry continue to thrive despite the challenges ahead? These are exciting times for Business Aviation. The last few years have seen renewed and justified optimism spreading across the industry. After a tough decade, and the lingering impact of the global financial crisis, we can finally talk confidently of sustained growth. So, is the battle won? Probably not. Relaxing is rarely an option and never a good idea in business – there are always foreseeable challenges and unwelcome surprises ahead. Nonetheless, let’s take a moment to enjoy the current health of international BizAv. At the heart of the industry, the Medium Jet sector (Mid-size, Super-Mid-size and Heavy) is particularly strong. For the year November 1, 2017 through October 31, 2018, there were 100,209 ‘Trips’ (meaning journeys sourced, not necessarily booked, through Avinode) for Medium Jets for domestic US flights. That’s an impressive 39% increase on the previous year (72,262 Trips). Better yet, good news is not limited to the US. There were 176,848 Trips for Medium Jet flights originating in Europe for the year to October 31, 2018, up a lively 29% on the previous 12 months (137,091 Trips). France, the UK and Germany remain important markets for European BizAv, with the UK enjoying the highest number of transatlantic business jet movements. Unfortunately, talk of Europe brings us to one of the most likely brakes on growth – Brexit. Hoping for the best while preparing for the worst is a smart approach here. In many ways, uncertainty is harder than being sure there’s a crisis ahead but, realistically, uncertainty is all we have. The rising price of jet fuel is another financial concern, as is pilot availability, which is worsening toward a crisis point. But these headwinds aren’t stalling progress in all areas. Firstly, technology will keep driving us forward through the challenges ahead. Disruptive technologies
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4 January 2019 AVBUYER MAGAZINE
are bringing charter operators, brokers and customers closer than ever before. The online marketing, booking and payment of charter flights is becoming easier every day. Automation is bringing unprecedented levels of speed, accuracy and efficiency to the administration of BizAv, not least in the generation of quotes. And new application programming interfaces (APIs) and Software-as-a-Service (SaaS) platforms mean companies can enjoy state-of-the-art IT without spending big money. As technology helps BizAv become increasingly unified and interconnected, the industry will become stronger and more resilient to changing market forces. Secondly, none of these challenges – Brexit, rising fuel costs, pilot shortages – are unique to BizAv; all are shared by the broader aviation industry. And there are many areas where BizAv already outperforms the services delivered by commercial airlines, a fact which must be promoted and exploited. Anyone who has circled waiting for a packed airliner to land behind schedule will appreciate the joy of landing without delay in a private jet at a dedicated Business Aviation airport. A third critical point is that Business Aviation can – and must – attack the pilot shortage to beat airlines to top talent. If you want the prestige of flying famous CEOs around in Gulfstream G650s, there isn’t much point working for easyJet. Everyone involved in BizAv needs to be spreading the word about the unique benefits of a career in the sector. Good times never last forever. Inevitably, there will be troubles ahead for Business Aviation. But with the right strategies in place, and particularly the intelligent use of technology, our industry can be ready for anything. ❙ Per Marthinsson is co-founder and executive vice president Americas, Avinode Group, a leading technology and data partner for the business air charter industry. Since founding Avinode in 2001 alongside Niklas Berg and Niclas Wennerholm, Per has held several positions within the company including Sales Director, Product Manager, CFO and CEO. Visit www.a vinode.com
www.AVBUYER.com
GLOBAL JET INVENTORY
AIRBUS A319 VIP 2008 (DELIVERED 2011) / SN 3542
AIRBUS A318 ELITE 2008 / SN 3100
ASKING PRICE / USD $49.75M
ASKING PRICE / USD $23.50M
BOMBARDIER GLOBAL 7500 2 POSITIONS AVAILABLE IN 2020 & 2021
BOMBARDIER GLOBAL 6000 2014 / SN 9537
BOMBARDIER GLOBAL XRS 2008 / SN 9280
BOMBARDIER GLOBAL 5000 2006
ASKING PRICE / USD $32.00M
MAKE OFFER / MOTIVATED SELLER
OFF MARKET
GULFSTREAM 550 2010 / SN 5279
DASSAULT FALCON 900LX 2016/ SN 298
PRICE REDUCTION / USD $22.90M
MAKE OFFER
EMBRAER LEGACY 650 2013/ SN 114501161
CESSNA CITATION XLS+ 2012/ SN 560-6108
PRICE REDUCTION / USD $12.50M
ASKING PRICE / USD $7.10M
GLOBALJETMONACO.COM
3D & TECHNICAL DETAILS AVAILABLE HERE
AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04
Inventory.indd 1
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AIRCRAFT SALES & ACQUISITIONS
AIRBUS A319 2008 / SN 3542
AIRFRAME HOURS / 3688 AIRFRAME CYCLES / 1061 CAPACITY / 18 PAX
PRICE REDUCED / USD $49.75M GLOBALJETMONACO.COM
3D & TECHNICAL DETAILS AVAILABLE HERE
AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04
AV_BUYER_January 2019.indd 1
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AIRCRAFT SALES & ACQUISITIONS
AIRBUS A318 ELITE 2007 / SN 3100
AIRFRAME HOURS / 5414 AIRFRAME CYCLES / 1870 CAPACITY / 19 PAX
PRICE REDUCED / USD $23.50M GLOBALJETMONACO.COM
3D & TECHNICAL DETAILS AVAILABLE HERE
AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04
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AIRCRAFT SALES & ACQUISITIONS
BOMBARDIER GLOBAL 6000 2014 / SN 9537
AIRFRAME HOURS / 1402 AIRFRAME CYCLES / 507 CAPACITY / 12 PAX
ASKING PRICE / USD $32.00M GLOBALJETMONACO.COM
3D & TECHNICAL DETAILS AVAILABLE HERE
AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04
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AIRCRAFT SALES & ACQUISITIONS
DASSAULT FALCON 900LX 2016 / SN 298
AIRFRAME HOURS / 1139 AIRFRAME CYCLES / 704 CAPACITY / 14 PAX
ASKING PRICE / MAKE OFFER GLOBALJETMONACO.COM
3D & TECHNICAL DETAILS AVAILABLE HERE
AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04
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AIRCRAFT SALES & ACQUISITIONS
EMBRAER LEGACY 650 2013 / SN 114501161
AIRFRAME HOURS / 1366 CYCLES / 581 CAPACITY / 13 PAX
PRICE REDUCED / USD $12.50M GLOBALJETMONACO.COM
TECHNICAL DETAILS AVAILABLE HERE
AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04
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AIRCRAFT SALES & ACQUISITIONS
CESSNA CITATION XLS+ 2012 / SN 560-6108
AIRFRAME HOURS / 2172 AIRFRAME CYCLES / 1227 CAPACITY / 8 PAX
ASKING PRICE
/ USD $7.10M
GLOBALJETMONACO.COM
TECHNICAL DETAILS AVAILABLE HERE
AIRCRAFTSALES@GLOBALJETMONACO.COM T +377 97 77 01 04
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Contents Layout Dec18.qxp 19/12/2018 11:53 Page 1
4
Guest Editor
January 2019
22
Trends and observations from the leading analysts…
Contents
Volume 23, Issue 1
Market Intelligence
Buying & Selling
38
Business Jet & Turboprop Market Reflections
42
Where is Business Aviation Heading in 2019?
48
Is Now a Good Time to Buy a Business Jet?
54
Four Cockpit Mods to Help Sell Older Jets
60
Finance
When is a Business Jet Lease Right for you?
Ownership
66
When to Use Charter to Offset Ownership Costs
70
How to Save Money in Business Jet Ownership
76 84
Aircraft Price Guide
Large Cabin Jet Values
Aircraft Specifications
Large Cabin Jet Performance & Specifications Guide
Jet Comparision
88
Embraer Phenom 100EV versus HondaJet HA-420
96
How Will NextGen Evolve in Private Aviation
102
How are Flight Decks Developed for Pilots?
106
OEM News, Events and Industry Appointments
109
Products & Services
111
Showcases
117
Market Place
120
Advertisers Index
121
Aircraft for Sale Index
Avionics
Community News
Next Month
• Heli Comparison: Agusta AW109E vs Bell 429 • Jet Connectivity: Understanding the Options • How do Registries Impact International Operations?
EDITORIAL Commissioning Editor Matthew Harris +44 (0)20 8939 7722 editorial@avbuyer.com Editorial Contributor (USA Office) Dave Higdon dave@avbuyer.com Consulting Editor Sean O’Farrell +44 (0)20 8255 4000 sean@avbuyer.com ADVERTISING Lee McLoughlin 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
12 January 2019 AVBUYER MAGAZINE
www.AVBUYER.com
Aircraft Finance Corporation January.qxp_Layout 1 17/12/2018 15:21 Page 1
PLANE & SIMPLE Earlier this year, we refinanced a Challenger 605 for a Texas business owner. The client had previously financed the aircraft with one of the “big banks” with a monthly payment of $70,169 on a seven year term. With our 20-year term, his payment became $29,515 per month, allowing his business to utilize their new found cash flow. At Aircraft Finance Corporation, we base our amortization on 20 years. It is our benchmark and it works - it adds to the bottom line of our customers cash flow.
“Aircraft Finance Corporation will give you the lowest rate and longest terms on pre-owned Jet and Turboprop aircraft, guaranteed. Our 20-year term starts at 4.74%.” Martin Ormon, President
800-434-4185 | 949-698-0085 | INFO@AIRCRAFTBANKER.COM | AIRCRAFTBANKER.COM
Avpro January.qxp_Layout 1 17/12/2018 15:21 Page 1
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Avpro branding December.qxp_Layout 1 19/11/2018 14:18 Page 1
Avpro realizes that
opportunities are fleeting and time is money.
Our strong relationships throughout the industry allow us to capitalize on trends as they emerge.
Our unparalleled team
of in-house experts in research, marketing, contract negotiations and closings allow us to navigate the complexities of each transaction. The underlying principles behind everything we do -
Performance. Integrity. Reputation. Expect No Less. WWW.AVPROJETS.COM 900 Bestgate Road, Suite 412 Annapolis, MD 21401 • 410.573.1515
info@avprojets.com (410) 573-1515
It’s time. What are the most precious things in your life? Your family, your friends, your business? Whatever they are, the most precious resource that links them all together is time. That’s why we’ve taken the time to make CorporateCare® even more comprehensive, with additional line maintenance, expanded support and even nacelle coverage on later engine models. Supported by the industry’s leading global service network and cutting-edge digital tools, we are focused on getting you to your destination on time, every time. It’s time to protect your most precious resource. It’s time to consider CorporateCare Enhanced. For more information, email corporate.care@rolls-royce.com The future. Rolls-Royce.
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MARKET INDICATORS
Business Aviation Market Summary With images of sugar plums, and sweet year-end new airplane deals still dancing in their heads, business aircraft customers begin the New Year with hope for a solid economy, optimistic consumers and bright days ahead, projects Rollie Vincent, Editor, Market Indicators... he year 2018 finished with a flurry of business aircraft transactions, as new and used models traded hands in the ramp-up to the December 31 deadline. Although some paperwork may ultimately have been finalized on (or about) December 32, in the euphoria and camaraderie of the New Year celebrations, did anyone even stop to take notice? Optimism amongst the business aircraft owner/operator community continues, at least based on the results of the JETNET iQ Q4 2018 Survey. With more than 90% of the targeted 500 quarterly survey responses received by press time, optimists outnumbered pessimists by a factor of 3.8-to-1 – continuing the rather upbeat outlook that has characterized the market. No more so is
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22 January 2019 AVBUYER MAGAZINE
this true than in Europe and North America over the last four quarters.
Large-Cabin Jet Progress
Large-Cabin Jets look strong, at least for the time being, as OEMs begin to see the fruits of their years-long efforts to bring new designs to market. Gulfstream’s G500 and G600 are in production ramp-up. These aircraft were smartly conceived from the outset with a high level of commonality of parts, structures and systems; fly-by-wire flight controls to enhance flight safety and cabin comfort; and enough long-range/high-speed performance to make an aerodynamicist put down the TV remote and take notice. Never to be outdone, Bombardier’s sparkling www.AVBUYER.com
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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
new Global 7500 took to the skies with initial customer deliveries beginning late last month. Meanwhile Dassault’s loyal customers continue to flock to the French OEM, especially for the elegant Falcon 8X and versatile Falcon 2000LXS. Dassault’s much-anticipated Falcon 6X may be a few years away, but it is positioned to put the W-I-D-E in ‘widebody’. The 6X will inaugurate a platform that will be the basis for a new family of business jets from the good people who also bring us CATIA design software, the Rafale fighter, nEUROn unmanned flying aircraft, and (one day) Europe’s sixth generation fighter jet.
Middle of the Market
In the middle of the market, competition is fierce and customers are the beneficiaries, as Bombardier, Gulfstream, Embraer and Textron battle for market share, each with their respective offerings in the increasingly crowded Super-Midsize Jet segment. With capabilities that match (and for the most part even exceed) most customer mission requirements, the Challenger 350, Gulfstream G280, Praetor 600 and Citation Longitude offer significant value for the dollar to new aircraft buyers, who have nevertheless been consistently able to negotiate substantial price discounts from the OEMs. Just below the Super Mid-size offerings, business jets at the higher end of the Light Jet segment (from the Phenom 300 to the Pilatus PC24 and Citation CJ4, and newer offerings like the Citation Latitude and Praetor 500) are well received by customers, and account for the bulk of remaining shipments at this time.
The 2019 ‘High Watch’ List
With essentially flat utilization rates, weak charter pricing, still-reduced residual values, flat overall production rates, and continuing OEM discounting, it is apparent that not all is well with Business Aviation, however. In the high-rollers game of business aircraft development, returns on investment on hundreds of millions (and sometimes billions) of dollars are far from certain. www.AVBUYER.com
Collectively, with too many OEMs building too many different aircraft models at too low production rates, the pressures are mounting for something to change. From a market outlook perspective, what are some of the items that are on our ‘high watch’ list as we launch into 2019? •
• •
•
•
•
Residual values: Although their rate of decline has slowed, aircraft residual values remain depressed, discouraging existing owners/operators who have limited trade-in equity to bring to any new aircraft deal. New aircraft prices: Some OEMs continue to aggressively discount their prices to sell aircraft. Will this change? Aircraft utilization: It is hard to get too excited about 2% Year-over-Year (YoY) utilization growth when the underlying fleet is only expanding at about the same rather tepid rate. Production rates: We look for modest increases in overall business jet delivery volumes in 2019, with YoY growth concentrated among models that have been certified recently. Very light jets: What’s up with the very light jet segment? Certainly not orders. This segment has not recovered in the post-2008 financial crisis and looks particularly vulnerable in a slower-growth era in North America, Latin America and Europe. Talent: Companies and organizations that ‘get it’ are working diligently to find the right new people they need to keep their operations humming. Pilots, mechanics, engineers, technicians, flight planners and dispatchers, and sales experts are already in short supply. Therefore, talent shortages will remain a hot topic in 2019 and beyond.
With most key national markets expected to grow more slowly in 2019/2020, we should not be surprised if the New Year brings some newsworthy changes in the Business Aviation industry – with Darwin’s theories regarding survival of the fittest making for some informative, if not entertaining reading on a cold winter’s night. MI www.navigating360.com
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AVBUYER MAGAZINE January 2019
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MARKET INDICATORS
AVBUYER.com
European Business Jet Fleet ADS-B Out Risk More than one-tenth of Europe's business jets could be grounded by the beginning of the next decade, a new study warns, as upgrading certain older aircraft to meet new safety requirements will be prohibitively costly… Under European regulations, all aircraft operating in the region from June 7, 2020 are mandated to be equipped with Automatic Dependent Surveillance– Broadcast (ADS-B) Out technology. UK aircraft sales and marketing company Colibri has identified 219 business jets from Europe’s 1,944-strong fleet where the cost of installing the new equipment will prove too much for operators. The identified aircraft have a value of $750k or less, and were built in 1996 or earlier, according to Colibri. The list includes 42 aircraft in France (23% of the country's fleet); 31 jets in the
UK (16%) and 46 in Germany (11%). Depending on the platform, an ADS-B Out upgrade can cost between $25,000 and $200,000, Colibri says. It describes this outlay as an ‘unjustifiable expense’ for some aircraft, which could prohibit them from flying and leave them grounded. “The value of certain business aircraft in Europe may mean it's not worth spending tens of thousands, and sometimes hundreds of thousands of pounds installing ADS-B Out,” says Oliver Stone, managing director, Colibri. He predicts that many of these models will be broken up and sold for parts to maintenance companies as it “will become even harder for these owners to sell their aircraft in one piece.”
Why are Medium Jets so Hot Right Now?
Avinode has revealed a strengthening in the Medium Jet sector with charter inquires up by 39% in the US and by 29% in Europe. According to a company spokesman, “as we travel around, we’ve been hearing a lot of excited talk about the Medium Jet sector (Mid-size, Super Mid-size and Heavy). We couldn’t stop ourselves from investigating. Are Medium Jets on a high right now and, if so, why?” Following are some of Avinode’s conclusions. •
MI www.colibriaircraft.com
•
Avionics Q3 2018: Robust YoY Sales Increase The Aircraft Electronics Association released its Q3 2018 Avionics Market Report and total worldwide Business and General Aviation avionics sales amounted to more than $2bn. The figure represented a 15.5% increase in YoY sales compared to the first nine months of 2017 amount of $1.73bn. Sales during Q3 2018 were $679.8m, a 15.6% increase compared to Q3 2017 ($587.9m). YTD, both the retrofit and forward-fit markets have seen double-digit increases in sales compared to the first nine months of 2017. The forward-fit 24 January 2019 AVBUYER MAGAZINE
market was up 16.6%, while the retrofit market was up 14.7%. "With robust growth in sales during the first nine months of 2018, industry is on pace to produce the largest dollar amount of year-end avionics sales since the reporting process began back in 2012," said AEA President Paula Derks. "We have now seen seven-straight quarters of positive YoY sales growth dating back to the end of 2016, and it's an encouraging sign for the industry that sales are strong in both the forward-fit and retrofit markets." MI www.aea.net
•
•
Medium Jets fit the US perfectly. In key areas such as range and cabin size, they’re ideal for the vital US domestic market. You can easily find a Medium Jet for coast-to-coast travel (over 2,000nm) or for a popular East Coast route such as New York-Miami. Unlike many Small Jets, a Medium Jet can comfortably carry a C-suite team of seven passengers or more. The numbers prove the point. For the year November 1, 2017 to October 31, 2018, there were 100,209 trips (meaning journeys sourced, not necessarily booked, through Avinode) for Medium Jets for domestic US flights. That’s a very impressive 39% increase on the previous 12 months (72,262 trips). By comparison, Small Jet demand is only growing at 32% (up to 76,314 trips) YoY. Medium Jets are very popular in Europe too. There were 176,848 trips for Medium Jet flights originating in Europe between November 1, 2017 and October 31, 2018, up 29% YoY. New is always exciting. Embraer plans to bring us the Super Mid-size Praetor 600 in Q2 2019 and the Mid-size Praetor 500 in Q3 2019. Meanwhile, Textron promises imminent certification of the company’s Super Mid-size Cessna Citation Longitude.
“To say Medium Jets are enjoying a revival would be misleading, they’ve never been away,” Avinode summarized. “…Medium Jets are at the heart of the modern Business Aviation industry.” MI www.avinode.com page 26
www.AVBUYER.com
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
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MarketIndicators Jan19.qxp_Layout 1 18/12/2018 11:58 Page 4
MARKET INDICATORS
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Flight Activity - North America NOVEMBER 2018 vs NOVEMBER 2017 North America Flight Activity
PART 91
PART 135
FRACTIONAL
ALL
TURBOPROP
-2.3%
-4.9%
-5.1%
-3.4%
LIGHT JET
0.5%
-8.0%
3.1%
-2.3%
MID-SIZE JET
2.3%
-3.0%
10.6%
2.3%
LARGE CABIN JET
-1.4%
5.2%
-18.0%
-1.0%
ALL
-0.4%
-3.7%
3.5%
-1.2%
NOVEMBER 2018 vs OCTOBER 2018 North America Flight Activity
PART 91
PART 135
FRACTIONAL
ALL
TURBOPROP
-10.9%
-7.5%
-12.9%
-9.6%
LIGHT JET
-9.2%
-3.5%
-8.7%
-7.2%
MID-SIZE JET
-6.7%
-4.9%
-3.1%
-5.2%
LARGE CABIN JET
-4.6%
1.8%
7.8%
-1.3%
ALL
-8.5%
-4.6%
-4.2%
-6.6%
TRAQPak’s review of Year-over-Year (YoY) North America flight activity (November 2018 vs. November 2017) indicates an expected decrease of 1.2%. Month-over-Month (MoM) also saw the anticipated decrease, versus October’s activity... The YoY results by operational category were mixed, with Fractional activity posting the only yearly increase and Part 135 activity, declining for a sixth consecutive month, representing the largest decrease in November. By aircraft category, Mid-size Jets posted the only increase YoY over 2017, while the worst decrease came from the Turboprops category.
Month-over-Month
November Business Aviation flight activity by operational category were all down in November 2018, versus October 2018, with the Part 91 segment posting the largest monthly decrease. Aircraft categories were all negative, too, with Turboprops again posting the largest decrease.
December Forecast
Looking ahead, TRAQPak analysts estimate there will be a 0.8% increase in overall flight activity YoY in December 2018. MI www.argus.aero
Flight Activity – Europe
According to WingX, Europe saw a big drop off from the tail-end of the summer’s business jet activity with 62,726 Business Aviation departures in Europe during November. Down 1% YoY, as of November Business Aviation activity in Europe had a rolling 12-month trend of +2%. Growth was seen in France during November, and fairly strong increases were reported in YoY activity in Germany and Spain too. But Business Aviation departures were off more than 5% YoY from the UK, Italy and Switzerland. (Domestic UK activity fell by 9% YoY.) YTD growth, after the first 11 months of 2018, was still up in all top six markets, but only substantially so in Germany and Spain. Elsewhere, the Netherlands, Finland, Portugal, Greece and Hungary have strong trends this year, but substantial declines were recorded in Turkey for 2018 YTD. Large Jet activity was up 1% in November, with solid 4% gains from the UK, Italy, Germany, and 8% growth in France. Small and Mid-size Jet activity declined 2.5% overall, and as much as 8% in the UK. Flights to North America from Europe were robustly up in November, although transatlantic flights into Europe were down. Middle East arrivals continued to decline around 10% YoY, while flights to Africa are up by 8% YTD. AOC/Charter and Private flights were equally flat. “Flight activity trends in November reflect widespread anecdotal evidence that the market has seen a substantial slowdown, which may be just a seasonal drop-off but may also hint at growing economic concerns in the European region,” Richard Koe, managing director, WingX Advance remarked. “The overall trends, which are flat YoY, camouflage the underlying fall in business jet demand, clearly faltering in the Charter market. There are exceptions, most notably the comeback in demand for Medium-size Jets.” page 28 MI www.wingx-advance.com
Understanding the Business Aviation Market - with AvBuyer
26 January 2019 AVBUYER MAGAZINE
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EAGLE AVIATION +1 803.822.5520 SALES@EAGLE-AVIATION.COM EAGLE-AVIATION.COM
2009 CITATION CJ3 • 525B-0319
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1997 CITATION CJ • 525-0218
2000 LEARJET 31A • 31A-204
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2000 SOCATA TBM-700B • 180
2008 CIRRUS SR22 G3 GTS • 3121
2005 CIRRUS SR20 G2 GTS • 1591
2005 CESSNA T182T • T18208376
1999 CESSNA 182S • 18280570
MarketIndicators Jan19.qxp_Layout 1 18/12/2018 12:26 Page 5
MARKET INDICATORS
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In-Service Aircraft Values & Maintenance Condition Asset Insight’s market analysis on November 30, 2018 covering 93 fixed-wing models and 1,662 aircraft listed for sale, revealed a 4.6% increase to the tracked inventory fleet (73 units), with all four groups contributing to the increase… Large Jets led the way with an 8.9% increase in inventory, Small Jets were next at 5%, Medium Jets increased 3%, while Turboprops posted the lowest rise at 1.8%. At yearend, sellers appeared bullish with respect to ask prices. While a price escalation argument can continue to be made for certain Large Jets (due to the limited inventory of younger models), Medium Jet sellers are presumably betting on their aircraft’s maintenance status to justify higher pricing. As the Asset Quality Rating for Small Jets lost ground, so did their pricing, while many Turboprop sellers will likely find it difficult to obtain a higher price if their asset’s maintenance status is the basis for their increase.
Inventory Fleet Maintenance Condition
Changes to the Large Jet inventory fleet has led to assets with generally fewer upcoming maintenance events, albeit more expensive ones. The Medium jet inventory pool, on the other hand, showed more upcoming events, but ones that are likely to cost less than those for the average aircraft listed in October. Asset Quality worsened for both Small Jets and Turboprops. Overall, the Quality Rating stayed within Asset Insight’s ‘Excellent’ range, although it decreased slightly to 5.321 on a scale of -2.5 to 10. In concert with the inventory’s latest Quality Rating, Maintenance Exposure (an aircraft’s accumulated/embedded maintenance expense) worsened by 2.2%. However, at $1.413m the figure is 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 Q3 2018, assets whose ETP Ratio was 40% or more were listed for sale nearly 58% longer (on average) than aircraft whose Ratio was below 40% (280 versus 374 Days on Market). November’s analysis revealed that more than 51% of all tracked models and nearly 63% of the tracked fleet posted an ETP Ratio above 40%. The tracked fleet’s ETP Ratio remained unchanged at 65.1%. Turboprops led the way, posting the lowest ETP Ratio (50.4%); Large Jets followed (60.2%); Small Jets registered a figure of 66.1%; and Medium Jets improved for the third consecutive month, albeit to an unimpressive 75.6%.
28 January 2019 AVBUYER MAGAZINE
Table A
Fleet Maintenance Condition
$ Million
5.35
5.321
$1.50 $1.45
5.25 $1.41
5.15
$1.40 $1.35
D
J
F
Quality Rating
M
A
M
J
J
Maintenance Exposure
A
S
O
N
Quality Rating Trendline
Table B LOW RISK AIRCRAFT MODEL ETP RATIO
HIGH RISK AIRCRAFT MODEL ETP RATIO
Boeing BBJ 3.7% G650 3.9% Falcon 2000LX 10.0% Phenom 300 10.3% Citation CJ4 525C 10.3% CL-605 12.6% Citation Encore + 14.4% Falcon 900EX EASy 15.2% Pilatus PC-12 15.5% Falcon 2000EX EASy 16.1% Citation CJ4 525C (MSG3) 16.5% Citation Sovereign 680 17.3% Citation CJ3 18.8% Falcon 900DX 19.2% Piper Meridian 21.0% G 450 21.0% KingAir 350 - Post-2000 21.2% Embraer Legacy 600 21.4% Hawker 900XP 21.7% G550 22.4% G150 22.7% 23.7% Citation CJ2+ 525A 24.1% Citation XLS Learjet 45XR 25.1% Global XRS 25.8% Citation Encore 26.3% Challenger 300 26.3% Citation Mustang 510 27.4% Falcon 900EX 27.8% Global 5000 28.1% Phenom 100 28.2% KingAir B-200 - Post-2000 29.0% Hawker 850XP 29.2% Citation CJ2 29.3% KingAir 350 - Pre-2001 31.7% Falcon 50EX 33.9% Falcon 900B 35.3% Learjet 60XR 36.1% Citation CJ1+ 37.6%
Citation Bravo 41.7% KingAir B-200 - Pre-2001 42.4% Premier 1A 43.7% GV 44.2% 44.6% Citation Excel 560XL CL-604 45.1% G200 46.5% Hawker 400XP 47.6% Falcon 900 48.2% Hawker Beechjet 400A 50.3% Piaggio P-180 II 50.8% KingAir 300 52.0% Learjet 45 w/APU 56.4% Falcon 2000 59.6% Hawker 800XP 64.6% Citation V Ultra 65.1% Learjet 45 66.6% Citation V 560 67.9% Piaggio P-180 74.7% GIV-SP (MSG3) 75.4% Premier 1 76.8% Citation ISP 85.4% GIV-SP 85.8% Falcon 50 91.5% Hawker 1000A 93.0% Global Express 97.3% 99.1% Citation VI Learjet 60 100.8% KingAir C90 110.3% Citation II 113.5% CL-601-3R 136.2% Hawker Beechjet 400 141.7% Learjet 31 151.2% Learjet 35A 154.5% G100 156.7% GIV 158.3% Hawker 800A 158.6% CL-601-3A 161.2% Learjet 55 199.4% CL-601-1A 329.0% Falcon 20-5 380.0%
Maintenance Exposure to Ask Price Ratio (“ETP Ratio”) as of November 30 2018 Source: AMSTAT (www.amstatcorp.com) Asset Insight, LLC (www.assetinsight.com)
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MarketIndicators Jan19.qxp_Layout 1 18/12/2018 12:03 Page 6
MARKET INDICATORS
Large Jets Ask Price vs. Maintenance Exposure *
Asset Quality Rating
$ Millions
Market Summary
Overall inventory asset quality remains better than average, as does Maintenance Exposure, which should allow sellers and buyers the opportunity to close transactions. For some sellers, it will be difficult to justify their Ask Price, but their deal-making opportunities could improve through an understanding of their asset’s standing relative to competitive aircraft. Large Jets: The inventory fleet expanded by 29 units leading to an improvement in the group’s Quality Rating, but upcoming maintenance events are going to cost buyers a bit more. Ask Price is just below the highest figure posted during the past twelve months, helping decrease the ETP Ratio for the second consecutive month.
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
5.200
Jun-18
$3.10
5.300
Dec-17
Nov-18
Oct-18
Sep-18
Jul-18
Aug-18
Jun-18
Apr-18
May-18
Feb-18
Mar-18
Jan-18
$3.20 Dec-17
$10.5
$3.30
5.400
May-18
$12.2
$11.5
5.456
Apr-18
$3.40
5.500
Mar-18
$12.5
$3.50
Feb-18
$3.49
Jan-18
$13.5
Scale -2.500 to 10.000
Assuming they understand the asset they are selling or buying, sellers had the opportunity to close out 2018 at a good price – relatively speaking – while buyers should have been able to identify some good values. Medium Jets: The tracked fleet’s inventory increased by another 15 units during the past month, but this is good news for buyers as the new fleet mix is comprised of higher Asset Quality aircraft carrying lower Maintenance Exposure. Ask price also rose 2.1% helping improve the ETP Ratio. Based on competition to sell before year-end, Asset Insight is not convinced that pricing is likely to hold, but many sellers have the facts in their favour (assuming they know them), potentially justifying their higher pricing logic.
Medium Jets Ask Price vs. Maintenance Exposure *
Asset Quality Rating
$ Millions
30 January 2019 AVBUYER MAGAZINE
Nov-18
Sep-18
Aug-18
Jul-18
Jun-18
5.000 May-18
$1.05
5.100
Apr-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
Mar-18
Feb-18
Jan-18
$2.44 Dec-17
$2.30
$1.10
Mar-18
$1.15
$2.50
5.200
Feb-18
$1.20
$2.70
5.252
$1.25
Jan-18
$1.23
$2.90
5.300
Oct-18
$1.30
Dec-17
$3.10
Scale -2.500 to 10.000
www.AVBUYER.com
MarketIndicators Jan19.qxp_Layout 1 18/12/2018 12:05 Page 7
AVBUYER.com Tony Kioussis is president of Asset Insight. The company provides audit and valuation services and has developed a standardized Asset Grading System scale that evaluates an aircraft’s maintenance condition.
Small Jets Ask Price vs. Maintenance Exposure *
Asset Quality Rating
$ Millions
$2.00
$0.85
Small Jets: Inventory increased by 24 units, following October’s addition of 25 assets to the inventory fleet, and the latest additions are generally of lower asset quality, leading to worsening Quality Rating and Maintenance Exposure figures. Ask Prices are down 4.4%, month over month, and while that has led to an ETP Ratio increase, the Ratio is better than the 12-month average, giving some sellers reasonable hope they can achieve a decent transaction price during 2018.
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
The 2.9% increase in Ask Price will be challenging for sellers to achieve but it is quite possible, given this group’s high level of market activity and the maintenance condition of many listed assets.
MI www.assetinsight.com T
Asset Quality Rating Key
Asset Insight analytics (www.assetinsight.com)
Turboprops: The for sale fleet increased by five units during the past month, and while the Quality Rating improved 2.5%, (www.assetinsight.com) Maintenance Exposure Asset Insight analytics worsened 8.5%, as upcoming events, although fewer, will be more expensive.
May-18
5.100 Apr-18
$0.65
Mar-18
Nov-18
Oct-18
Sep-18
Jul-18
Aug-18
Jun-18
Apr-18
May-18
Feb-18
Mar-18
Jan-18
Dec-17
$0.73
5.300
Feb-18
$1.70
Jan-18
$0.75
5.450
Dec-17
$1.80
5.500
Nov-18
$1.82
$1.90
$1.60
Scale -2.500 to 10.000
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
$0.65
$1.50
$0.60
$1.45
$0.55
5.000
4.900
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
4.700 Mar-18
$0.50
Feb-18
Nov-18
Oct-18
Sep-18
Jul-18
Aug-18
Jun-18
May-18
Apr-18
Feb-18
Mar-18
Jan-18
Dec-17
5.063
5.100
4.800
$0.58 $1.40
5.200
Jan-18
$1.52
Dec-17
$1.55
Scale -2.500 to 10.000
Ask Price Source: Amstat Asset Insight Analytics * The accrued cost of future scheduled maintenance
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BUYING & SELLING AIRCRAFT
Business Jet & Turboprop Market Reflections Dave Higdon reviews the thoughts and projections of used jet and turboprop dealers and brokers along with aviation analysts and economists. Will the positive trends seen in 2018 continue into 2019? ptimism. It's a state of mind directly influenced by our perceptions of the wider world around us. And for the bulk of 2018, within Business Aviation that state of mind was trending upward. Compared to the low-point for market optimism of 2016, today's market for used business jets and turboprops continues to ‘sail along’, thanks to a medley of factors. A strong, somewhat volatile market for stocks
O
38 January 2019 AVBUYER MAGAZINE
helps. So do the new tax breaks from the Tax Cuts and Jobs Act of 2017. While interest rates edged up through 2018, the incremental rate increases by the Federal Reserve failed to dampen industrial and business transactions. And then there’s the increase in flying, particularly in Europe and (to a lesser degree) North America. From all appearances 2018's bullish market for used jets and turboprops appeared to be heading for a strong finish. www.AVBUYER.com
w
Buying&Selling 3 Jan19.qxp_Finance 17/12/2018 11:21 Page 2
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As of this writing, barely 9% of the total business jet fleet was actively for sale, which is lower than at any other time since the great recession of 2008. That dwindling pool of available aircraft was putting pressure on prices (particularly for the Midsize and Large-Cabin Jets in high demand). The Light Jet segment, according to a variety of sources, remains the most moribund with prices slowly depreciating as a result. But overall the scarcity of popular jets continues into 2019 with the result reflecting in higher ask prices within some of the markets. Brokers, dealers and attorneys all note the continuing optimism heading into the New Year, and analysts say the used market morphed into a solid seller's market in the latter half of 2018. Dealers and brokers expect a continuation of the seller's market into 2019 and possibly beyond. The seller's market has certainly complicated the process of shopping for a desirable used business aircraft, particularly for jets aged less than 10 years old. The optimism and revived demand have even influenced pricing for new business aircraft, with OEMs reporting firm (or improving) pricing despite some still sitting on some unsold inventory. While total utilization increased in Europe and North America, brokers note that individual use declined slightly, with the growing utilization attributable to the continued expansion of the total business turbine aircraft fleet.
US Market Drives Growth
In the marketplace for used business jets and turboprops, the US remains the biggest player. About three-quarters of all transactions were sales of US-based aircraft, mirroring around 60% of new aircraft deliveries that are going to the US, according to JETNET. The strength of the US economy and the increased profits outlook merge with a forecast for 2.9% growth in gross domestic product (GDP) to energize the current level of optimism. That growth coupled with over $2tn in corporate profits and the new tax code help buoy this optimism. Reports show US consumer confidence near an all-time high while unemployment in the US dropped to about 3.8%, a level unseen in decades.
Disruption on the Horizon?
Regardless of today's optimism, however, analysts see potential for some disruption in the coming years. Some economists project the global economy is heading towards a slowdown in 2019 as the top economies react to new pressures. Those key economies (the US, Europe, China, www.AVBUYER.com
Canada and Australia) account for a combined total of 80% of the global business jet fleet. There’s plenty of potential for disruption, ranging from trade tensions emanating from the ongoing tariffs battles to currencies weakening compared to the US dollar, to ongoing uncertainty surrounding the UK's withdrawal from the EU. Concerns over higher US inflation and interest rates have yet to materialize into tangible effects. If there are factors likely to act as a brake on business aircraft sales it’s just as likely to be from the personnel side. Operators are already struggling to fill pilot slots and positions for maintenance technicians. Avionics technicians are also in short supply. The airlines are absorbing nearly 60 new singleaisle airliners per month, helping keep ATPs in high demand, and the growth in the business jet fleet adds another layer of demand.
2018: A Growth Year, Despite the Challenges
From the trend shown by the new jet and turboprop deliveries reported by the General Aviation Manufacturers Association, 2018 appeared to be heading toward higher deliveries than in 2017 and 2016. Pre-owned transactions also appeared to be in the ascendency, as evidenced by the declining pool of aircraft available in the market. Another positive sign was seen in the avionics sales figures released by the Aircraft Electronics Association, which are also ahead of last year and indicate increased use of avionics upgrades on existing aircraft. As one southeastern US broker noted, “some prospective buyers of newer used aircraft find they can obtain the improvements they want by upgrading avionics on their existing airplane, spending far less company money in the process. These upgrades also help increase the useful load of the updated aircraft and its residual value.” But, as several brokers stressed, the world's politics and challenges could still send the market in a southerly direction. Barring any major blowups or deepening trade tensions, however, they remain guardedly upbeat – optimistic about the future, but cautious about each step forward they contemplate. Q4 2018 was shaping up to be the best of the year, according to the dealers, brokers and attorneys handling closings. Overall, and with a little luck, the Business Aviation community could see the consensus forecasts from the NBAA convention hold true for several more years before the predicted dip in 2022 to 2024 materializes. The year ahead could be very good indeed! ❙
AVBUYER MAGAZINE January 2019
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BUYING & SELLING AIRCRAFT
Where is Business Aviation Heading in 2019? OGARAJETS’ Johnny Foster spoke with AvBuyer’s Rebecca Applegarth to discuss some of the current trends in the Business Aviation marketplace and offer insights on where the aircraft sales market could be heading in 2019… ohnny Foster, president and CEO, OGARAJETS grew up around Business Aviation. His father, John Foster III, known as the ‘World’s Greatest Fighter Pilot’, retired from the US Navy in 1973 and moved directly into Business Aviation. Johnny and his brother David have many early memories of playing around aircraft in the hangars and flying as their father’s co-pilot on both business and personal trips. John Foster III formed O’Gara Aviation Company in 1980 with a Naval squadron mate Ed O’Gara, and Johnny joined the team in 1991 just after the company had purchased three Gulfstream GIIs, and the outbreak of the Gulf War.
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Those were challenging times for a small family business, but tenacity and commitment saw it emerge through recession with its head above water and grow from Turboprop and Light Jet sales into heavy aircraft. With almost 30 years in the industry, Johnny has experienced up and down cycles in aircraft sales, was appointed president of the company in 2006 and oversaw the rebranding of his business as OGARAJETS in 2013. At a time that he notes a lack of transparency in the industry (with back-to-back deals and ‘flip’ structures), Johnny points to his father’s vision which has never faltered: “Family values, www.AVBUYER.com
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does this tell you about that market, and how do you see this scenario playing out as we move into 2019?
unquestioned integrity, personal relationships, and roll-your-sleeves-up hard work remain at the cornerstone of our commitment to clients and assurance of continued success.” Since its formation, OGARAJETS has completed roughly 1,100 transactions in over 60 countries, totalling more than $5bn in market value. Services offered by OGARAJETS range from sales, brokerage and acquisition to management, leasing and flight operation services. Tapping in to his vast experience of the preowned business jet marketplace, AvBuyer spoke with Johnny to get his perspectives on where the market is, and where it’s going as 2019 gets underway... AvBuyer: A review of AMSTAT data released in October representing used aircraft sales between January and August shows the percentage of Heavy/Large Jets for resale to be at its lowest since 1998. Notably the biggest improvement in turn-over YTD was in the Large Jet ‘mid-age’ segment. What www.AVBUYER.com
Foster: More than anything, I believe the positive statistics of the pre-owned space reflects a high level of confidence that remains in the market, and that today’s prices (which largely have been compressed over the previous eight-plus years) represent unimaginable values. As for the Large Jet segment, a quality turnkey aircraft, fully programed and capable of flying 5,000-plus miles, for less than $10m? Wow! There are some tremendous transportation values in this space across all makes and models, especially those aged under 20 years. The OEMs have largely remained disciplined in their new jet production, which has helped to strengthen the jets aged less than five years-old. This is one of the few segments we have actually seen prices rise over the previous 12 months. This thinning supply and strengthening of prices is now opening the door to ‘recovery’ for the six-to-15year-old space, as AMSTAT is reporting. While the transaction pace remains feverish, and good quality aircraft that are priced appropriately are selling quickly, the value opportunities remain. Buyers in today’s market must be prepared to move quickly when the right opportunity presents itself. There could never be a more appropriate time to engage a trusted professional to guide purchase efforts and success. Let’s not overlook that the ‘Tax Cuts and Jobs Act’ has imparted a very measurable and positive impact on the pre-owned aircraft marketplace. We believe the market will continue to enjoy a boost into 2019 and beyond. AvBuyer: At the other end of the market, AMSTAT says the Light Jet fleet for sale is at 10.8%, down 0.7% from the previous year. Can you see a point in the next year or so where the Light Jet market actually moves into traditional sellers’ market territory (<10% for sale)? Foster: Business Aviation is not immune to Business 101 lessons of supply and demand. As values across the board have compressed significantly over the last decade, buyers today can simply purchase ‘more’ cabin for the same dollars. So, much of the Light Jet market has continued to lag in transaction flow.
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“The positive transactions over the last 18 months have begun to flatten the curves, but I am confident depreciation is here to stay and should be factored in any purchase decision.” All the while, the OEMs in this segment continue to produce significant numbers of new aircraft, of many varieties. There simply is not the demand to absorb the supply. Price compression, or market depreciation will continue. With that said, looking on a micro-level, there are some specific over-performers in this space, such as Embraer’s Phenom 300. AvBuyer: Price depreciation has been a hallmark of the used jet market since the great recession. What needs to happen for values to increase again, beyond the newest, best conditioned aircraft on the market? Foster: This is an interesting thought. Until the collapse in 2008, most owners experienced at least a level (even a rising) value over the term of their ownership. Sure, there were dips in the economy that drove values down in spurts, but most were short-lived and generally owners enjoyed an appreciating asset. This really made owning aviation assets fun and often ‘justified’. Value appreciation was so common that it took several years after 2009 for me to stop apologizing to clients for their aircraft value slipping. By 2014, it was clear annual depreciation was here for good, similar to virtually every other piece of capital equipment. Today, in very general terms, we see annual depreciation of over 10% per year for less-than five-year-old assets, trailing down to 2-3% annually on aged assets. 44 January 2019 AVBUYER MAGAZINE
The positive transactions over the last 18 months have begun to flatten the curves, but I am confident depreciation is here to stay and should be factored in any purchase decision. AvBuyer: In which segments of the market would you expect to see higher demand in 2019? Foster: I believe the Large Jet sector will remain a point of focus, driving all markets. All of the OEMs have some amazing launches planned for 2019; significantly more speed, range and comfort all in one package! I suspect there are some more announcements coming, too – though only time will tell… We also like what we’re seeing with some of the ‘disruption’ now present in the Super-Mid-Size sector; jets with capacity to fly eight passengers over 3,500 miles at a fraction of the capital and operating costs of the Large Jet market. There’s some tremendous value all around. What do I see ahead for 2019? Our enjoyment of favorable conditions remains very closely tied to domestic and global environments. So we’re keeping a careful eye on a stock market that has been on an almost eight-year bull run. In addition, with US mid-term elections that just can’t seem to settle, tariffs being shuffled between global super-powers and ADS-B mandates that are now less than a year away – there are many factors at play that could influence the pre-owned market for better or worse in 2019. More information from www.ogarajets.com ❙ www.AVBUYER.com
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Is Now a Good Time to Buy a Business Jet? Some segments of the used jet market have changed to favour the seller over the past several months, notes Jet Tolbert. But does that mean itâ&#x20AC;&#x2122;s a bad time to be a buyer? Which are the market segments to watch during the coming year? ver the past two years the used jet market dynamic has shifted somewhat. As a result, corporate aircraft have been holding their values better. While aviation assets undoubtedly continue to depreciate, the US economy and the availability of unprecedented tax write-offs for buyers of new and used aircraft has provided some price stability while making new purchases and upgrades more manageable.
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Those with the need for a business jet or turboprop are finding ways to use those tax incentives and make their next purchase at what is essentially a 20% discount (after write-offs). The US market will continue to enjoy the benefits of 100% tax depreciation until 2021. But beyond the tax incentives, there are some additional factors coming to the new market that will impact on the used market, both this year and beyondâ&#x20AC;Ś www.AVBUYER.com
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“If you have been thinking about moving from charter or fractional ownership into whole aircraft ownership, then this could be a great time to make those plans a reality.” New Products to Market
The new Gulfstream G500 and G600 jets, for example, have replaced the G450 and G550 on the Savannah production lines, and could lead to additional (possibly newer) G450 and G550 used jet inventory in 2019. With the price for a new G500 or G600 significantly higher than their predecessors on the used market, there’s a good chance that the recent top-down pressure from Gulfstream’s new aircraft sales may not be as destabilizing to the G450 and G550 markets as they have been. With that said, G450 and G550 buyers are a savvy group. It’s my observation that they tend not to be early adopters of brand-new technology, paying a premium for it. They seek value in performance and comfort. Some may be waiting for Gulfstream to take more G450 and G550 tradewww.AVBUYER.com
ins and are likely to be prepared to wait for the right aircraft to enter the market at the right price. The result could see a freeze in the G450/G550 market. The bottom line is that while conditions may favour sellers more in today’s market than two years ago, sellers must continue to be realistic as to what the market will pay for their jets. On the subject of new impacting old, Embraer’s Praetor 500 and 600 (both scheduled for certification in 2019) will impact the used Embraer markets (though to a lesser extent, due to smaller production runs of the Legacy 450 and 500). Embraer carved out a niche within the Mid-size markets when it introduced the Legacy 450 and 500 jets. But these aircraft will now be replaced on the production line by the Praetor 500 and 600, respectively.
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Operators of Legacy 450s can upgrade their aircraft to have Praetor 500 performance for $500k, but it will be interesting to see how many choose to do so, and how the Legacy 450 and Legacy 500 values play out in the coming years on the used market, along with their impact on the values of other Mid-size jets in the used market.
Older Used Aircraft Opportunities
Industry analysts have noted the plentiful supply of older aircraft on the used market. While these tend to be slower to sell, there are still a lot of buyers willing to consider these jets, as long as they can be upgraded (at a reasonable cost) to meet the 2020 ADS-B Out mandate, among other items. Many of these older aircraft were built around the turn of the century and can be purchased at a tempting price. And there are plenty of even older aircraft from the 1990s and even 1980s with life in them, and with reasonable operating budgets. While buyers of these aircraft should be aware they could become the aircraft’s last owner, the purchase price can be very low – to the extent that the sum of the parts can sometimes be greater than the whole, making them viable disposable assets. Buyers shopping this segment are typically looking for annual budget as opposed to the purchase price to find an equilibrium that justifies ownership. There seems to be a psychological connection among buyers between buying a jet for 50 January 2019 AVBUYER MAGAZINE
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$700k that costs $1m/year to run, whereas a smaller jet of the same vintage that costs $700k and has an operating budget of around $300k will find a home with a new buyer. From experience, the ‘queues’ of buyers tend to thin out when an aircraft’s acquisition cost becomes less than two-to-three times that of the annual operating budget, so market awareness and exit strategy will be crucial for shoppers in the lower end of the market.
In Summary…
Considering that the current tax incentives are available through to 2021, buyers are likely to continue to find value in the used aircraft market throughout 2019. If you have been thinking about moving from charter or fractional ownership into whole aircraft ownership, then this could be a great time to make those plans a reality. ❙
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.
www.AVBUYER.com
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Avionics 1.qxp_Finance 17/12/2018 11:33 Page 1
BUYING & SELLING AIRCRAFT
Four Cockpit Mods to Help Sell Older Jets What are the popular jet panel upgrades that make older aircraft more competitive in today’s used market? Dave Higdon discusses four, beyond the obvious ADS-B mandated upgrade… elling older business jets always presents challenges, whether dealing with an outof-date interior, powerplants that are nearing an overhaul, or a dated cockpit lacking some of today's most common and modern flying tools. That reality particularly applies in today’s used aircraft sales market as a set of deadlines for equipage with specific avionics improvements looms on January 1, 2020.
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In an era of all-glass cockpits, business aircraft without modern avionics make for a harder sale and become fair game for buyers negotiating lower acquisition prices. While much is made of the upcoming ADS-B mandate, it’s certainly not the only mandate looming that business aircraft operators should have at the forefront of their minds. Nor are the mandated systems the only path to making an older business jet or turboprop aircraft more www.AVBUYER.com
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AVBUYER.com Dave Higdon is a highly respected aviation journalist who has covered all aspects of civil aviation over the past 36 years. Based in Wichita, he has several thousand flight hours, and has piloted pretty much everything from foot-launched wings to combat jets. Contact him via Dave@avbuyer.com
competitive on the used market. However, when contemplating upgrades and modifications, sellers must weigh just how much to invest against the potential price gains from the upgrades. It may be that as the aircraft’s current owner/operator, you plan to continue to operate the jet for a few years yet – so would benefit operationally before eventually marketing a more competitive jet on the used market. If so, the investment you will be prepared to make in updating the panel is likely to be greater. With that said, and setting the obvious ADS-B upgrade aside, let’s review three additional flightdeck upgrades that are available to make your aircraft more attractive to buyers.
FANS 1/1A (Mandate Deadline, January 1, 2020)
FANS 1/1A was created to provide real-time position updates and enhance communication between pilots and controllers through a common language. Controller Pilot DataLink Communication (CPDLC), eliminates confusion www.AVBUYER.com
borne of language differences and varying accents through the use of a text-based messaging system. But FANS 1/1A is not new. The scheduled airliners began operating with versions of Automatic Dependent Surveillance Contract (ADSC) and CPDLC (the two underlying technologies behind FANS 1/1A) way back in the 1990s. ADS-C serves to create contracts, based on defined flight information, between aircraft and controllers. These contracts can be initiated through a periodic method, based on an event or through pilot mayday and are established directly by the controller through the aircraft systems. The January 1, 2020 mandate initiative, however, is a significant development for Business Aviation. The equipment required can vary with the aircraft and depends on what the panel already contains. As an example, the equipment required for current FANS 1/1A-capable models is: 1. VHF, SATCOM or HFDL radios as appropriate; 2. ACARS Management Unit (MU)/Communications Management Unit (CMU);
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3. Flight Management Computer (FMC) integration; 4. Printer (if company procedures require its use). For European operations the requirement is for the LINK 2000+ program as the European Implementation of CPDLC using the ATN infrastructure. This is the key element of the Single European Sky concept. Both the FAA and EASA require crew training and qualification for use of FANS 1/1A, similar to the ADS-B mandate. With time running short to meet the FANS 1/1A deadline, ordering the required equipment and booking an installation slot are already showing signs of a backlog, which only increases the urgency for operators to move ahead.
Performance Based Navigation
Performance Based Navigation (PBN) is an advanced, satellite-enabled form of air navigation that creates precise 3D flight paths. It offers adequately equipped aircraft access to more than 9,300 PBN procedures and routes the FAA has published so far, offering a number of operational benefits, including enhanced safety, increased efficiency, reduced carbon footprint and reduced costs. The foundational technology for PBN is a precision navigation system such as the Global Positioning System (GPS) enhanced by the Wide Area Augmentation System (WAAS), which 56 January 2019 AVBUYER MAGAZINE
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coincidentally can also serve as the position source for ADS-B. Aircraft with GPS or WAAS can navigate a flight path with much greater precision and accuracy than those with legacy navigational systems. The benefits of PBN derive from the more-efficient routes and approaches that are possible with the technology. On November 8, the FAA implemented 55 new PBN routes for flights between the southern part of the US east coast and major international airports in Florida and the Caribbean. The agency also updated 11 existing PBN routes and is designing high-altitude PBN routes from the Northeast to join the new routes that began in November.
Wide Area Augmentation System GPS
Many older business-turbine aircraft sport GPS navigators that were offered before Wide Area Augmentation System (WAAS) became widespread in the US. Nevertheless, the precision of WAASenhanced GPS provides the foundation for ADS-B and for PBN capabilities. But their most frequently-used trait is their ability to guide an aircraft to the approximately 4,000 instrument approaches called Lateral Precision with Vertical Guidance (LPV). LPV approaches can deliver the same level of capability as the old gold-standard ILS approach. But unlike the ILS, the only ground equipment needed are lights, which with the right lighting for the runway can result in LPV approaches with the
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same minima as the ILS. Direct routes are easier to obtain with WAAS GPS in the cockpit, in addition to the LPV approaches and LNAV/VNAV (both of which are non-precision area-nav approaches). These approaches provide lateral guidance from GPS and/or WAAS with vertical guidance provided by a barometric altimeter or WAAS. Aircraft without WAAS must have a VNAV altimeter. And these approaches typically provide for decision altitudes typically 350 feet above the runway.
Glass Cockpit (Added or Upgraded)
Finally, we come to the most coveted of cockpit systems – the glass cockpit. Early glass cockpits employed Cathode Ray Tube (CRT) displays which were major power consumers, heat generators and were substantially weightier than today's modern Liquid Crystal Display (LCD) systems. Options for upgrading older analog and early glass panels are increasingly common for business jets and turboprops. In addition to the improved reliability and increased functionality of today's integrated avionics systems, these upgrades typically increase the aircraft's useful load thanks to the weight lost from the upgrade. Some integrated panel upgrades (such as Garmin's G5000 upgrade for the Beechjet/Hawker 400A) remove upward of 250lbs from the aircraft's operating empty weight. Vendors including Avidyne, Garmin, Honeywell and Collins Aerospace all offer retrofit packages that upgrade the panel, some from analog to alldigital, others from CRT displays to flat-screen LCD displays. In a market where aircraft performance
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can be a close call, gaining the capabilities of the integrated glass cockpit avionics package definitely helps elevate an aircraft above its unimproved hangar mates.
What to Leave In, or Out
The options available to make an older jet a moreattractive purchase candidate continue to expand, making for a dizzying array of choices and decisions. The above options all result in a moremodern, more-capable business aircraft. Of course, some of the above aren't options at all. They're required by the ADS-B and FANS 1/A mandates, and their short lead time can help an aircraft to sell. But the other upgrades not only enhance a used aircraft's market value, they bring tangible utility and performance improvements. Many other available upgrade options exist that hold potential to improve a business aircraft's ramp appeal, including in-flight connectivity and cabin entertainment systems. The challenge for any seller comes down to finding the blend of upgrades needed (and possible) without blowing the asking price far beyond what the market will support. As mentioned above, many will choose to upgrade a jet, enjoying the benefits to their own operation for a while before enjoying the increased value in sale price. And as one avionics shop owner told us, “Sometimes an aircraft gets pulled from the market because after investing in the upgrades, the owner decides to keep the aircraft because it now meets their needs (not to mention those pesky mandates).” ❙
Make More Informed Buying Decisions with AvBuyer 58 January 2019 AVBUYER MAGAZINE
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General Aviation January.qxp_Layout 1 17/12/2018 15:35 Page 1
Finance.qxp_Finance 18/12/2018 11:11 Page 1
FINANCE
Is a Business Jet Lease Right for You? Has the aircraft lease market changed since the Great Recession? What are the popular lease types available to business jet owners? AvBuyer spoke with PNC’s Keith Hayes to discuss how leases can benefit certain companies and individuals… 60 January 2019 AVBUYER MAGAZINE
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AvBuyer: How has the aircraft lease market developed/changed over the past few years? Do you foresee further change in the short- to medium-term?
eith Hayes began a lengthy career in the finance sector with GE Capital in 1985, having joined straight out of college. Starting as an internal auditor, he held several roles within the company transitioning into a credit role and then into a sales/finance role covering a multitude of asset types. In 2004, he joined the GE Corporate Aircraft group as the National Sales Manager and has been in the aviation finance sector ever since. Today as the National Sales Manager for PNC Aviation Finance, he is well placed to offer insights into the Business Aviation finance market. He is based at the company’s Boise, Idaho offices. AvBuyer spoke with Keith to discuss the types of leases commonly available to prospective business jet owners; trends in the aircraft lease market; and advice to buyers considering lease as an option for their next business jet purchase.
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Hayes: The biggest changes have taken place post-recession. Prior to the recession, a lot of aircraft were leased under 10- to 12-year leases with flexibility for the lessee to terminate early within years 4-6 of the lease. Following the recession, when aircraft values began to plummet, lessees generally found they were ‘under water’ in their leases. Many had no choice but to continue to lease the airplanes until the end of the lease term before returning them to the lessor (the bank). This was not a positive experience for the lessee or the lessor. Due to the challenges associated with selling the returned aircraft, many lessors stopped offering lease products altogether. Others, PNC Aviation Finance included, continued to offer the product and, now that aircraft values are stabilizing (along with the recent changes in the tax laws), lessors are seeing an uptick in lease activity. Looking ahead, there are changes taking place in certain accounting rules coming into effect in 2019 and 2020 that will cause leasing to not be as advantageous for financial reporting purposes. Among the changes is a requirement from the Financial Accounting Standards Board for organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases, and to provide disclosures to help investors and other financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. However, we believe aircraft leasing will continue to be a value-added structure for certain owners. AvBuyer: We’re hearing various forecasts of continued growth in the new and used aircraft sales marketplace during 2019. Would you expect to see aircraft leasing influence the aircraft sales trends over the coming year? If so, how? Hayes: I have always said that financing does not drive the behaviour of aircraft owners. The average aircraft owner changes their airplane every four-tofive years regardless of whether they paid cash, financed or leased their airplane.
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FINANCE
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“The lease versus finance question typically is driven by the owner’s tax appetite or financial reporting needs, not simply the drive to buy or not buy.” Some would argue that when banking ‘became tight’ during the last recession, aircraft sales were impacted, but I question if this was truly a factor. Cash has been, and continues to be, the number one method of paying for an airplane. But as the global economy continues to thrive, I anticipate our industry will continue to grow; as companies and wealthy individuals continue to have opportunities to deploy cash into high-return assets, they will elect to finance or lease as opposed to paying cash for a ‘non-earning’ asset. Meanwhile, the lease versus finance question typically is driven by the owner’s tax appetite or financial reporting needs, not simply the drive to buy or not buy. AvBuyer: For those weighing up whether a lease is right for them, what are the common lease options, and what type of aircraft owner is each tailored to? Hayes: In short, there are two types of leases: A tax-oriented operating lease (in which the lessor owns the airplane for Federal Income Tax purposes); and a synthetic lease (in which the lessee owns the plane for Federal Income Tax purposes). 62 January 2019 AVBUYER MAGAZINE
Typically, an owner may enter a synthetic lease for a variety of reasons, including deferral of state sales tax and/or financial reporting and off-balance sheet treatment. Under a synthetic lease, the lessee would have full availability of all tax benefits for Federal Income Tax purposes. Meanwhile, an owner may enter a tax-oriented operating lease for the same benefits realized in a synthetic lease but, most likely, they would do so because they cannot fully utilize the tax benefits. There are a number of reasons why this would be the case including their level of personal use, passive versus active income, carrying forward of net operating losses, and more. Under a taxoriented operating lease, the tax benefits are ‘passed’ to the lessor, and the lessor in return offers a lower cost of funds to the lessee. Commonly, these tax-oriented leases are structured with eight- to ten-year terms with early buy-out options at a point determined by the lessee. AvBuyer: For those considering whether an aircraft lease is the route they want to take into aircraft ownership, what are the most important things for them to understand?
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Freestream December.qxp 19/11/2018 14:38 Page 1
2009 Gulfstream G450
2010 Gulfstream G450
Airframe Total Time: 1747 hrs Aircraft Total Cycles: 835 cycles
2013 Gulfstream G550 Airframe Total Time: 2667.6 hrs Aircraft Total Cycles: 939 cycles
Airframe Total Time: 956 hrs Aircraft Total Cycles: 366 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: 1133 hrs Aircraft Total Cycles: 517 cycles 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
Finance.qxp_Finance 18/12/2018 11:23 Page 4
FINANCE
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“...there are certain conditions you want to make sure are ‘market’ ones, including the return provisions, usage provisions and reporting requirements.” Hayes: There are a number of variables an owner would want to keep in the front of their minds when leasing an aircraft. While the documentation process for a lease (versus that for a loan) is not overly complicated, there are certain conditions you want to make sure are ‘market’ ones, including the return provisions, usage provisions and reporting requirements. Additionally, the inclusion of an early buyout in the lease is an option the lessor may or may not offer. It is up to the individual lessee and their specific requirements to decide if this option is important. Also worth considering, some lessors have a tax appetite while others do not. The lessee should recognize a lower cost of funds which can
be analysed through the early buy-out in exchange for passing the tax benefits to the lessor. If it appears the rate of return is equivalent to debt financing, it could mean the lessor has no tax appetite. Lastly, in many states, sales tax is paid on the rentals via use tax (as opposed to upfront payment). This can result in a significant deferral and, in some cases, avoidance of sales tax altogether (i.e. if the lease is terminated at an early buyout point and the airplane is then sold, the use tax on the remaining rental is potentially avoided). More information from https://www.pnc.com/en/ corporate-and-institutional/financing/lendingoptions/pnc-equipment-finance/aviation.html ❙
Understanding Business Aviation Financing - with AvBuyer 64 January 2019 AVBUYER MAGAZINE
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Asian Sky January.qxp_Layout 1 17/12/2018 15:36 Page 1
Ownership 1.qxp_Finance 18/12/2018 10:02 Page 1
OWNERSHIP
When Can Charter Offset Jet Operating Costs? Are you looking to reduce your total costs of business jet ownership? A management company can charter your aircraft during the idle periods between personal trips. David Wyndham discusses...
66 January 2019 AVBUYER MAGAZINE
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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
•
The aircraft owner gets a variable percentage of the charter revenue
Fact: Your idle asset can generate income that will offset the cost of owning and operating the aircraft. Myth: Chartering your aircraft means you will “fly for free.”
Some Rules of Thumb
hoosing the right firm to manage your jet will be crucial. Firstly, it must have authorization under FAA Part 135 (or its international equivalent outside the US). Secondly, be prepared that the relationship between owner and management company can be complicated given the myriad of regulatory restrictions governing operational control of any aircraft used for commercial service. Following are the general terms that exist between the aircraft owner and commercial operator:
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The aircraft owner pays all the operating costs (e.g., fuel, maintenance, other aircraft operating expenses, etc.) The crew may be billed either as salaries or as an hourly fee
The aircraft owner typically receives 85% of the base charter rate, while the certificate holder keeps the remaining 15%. As outlined above, the aircraft owner typically will pay all the aircraft-specific expenses such as fuel and maintenance. The excess of charter revenue over those expenses is what helps offset the fixed costs, resulting in a net decrease in total cost to the owner. Other negotiated terms may involve the accrual for maintenance, guaranteed hourly maintenance plans, and fuel cost offsets. Recently, I saw an agreement where the aircraft owner received a set revenue per hour regardless of what the charter operator charged. Another agreement had the charter operator paying the fuel costs with a reduced percentage of the revenues to the owner. So, what’s in it for the charter operator? Why would they even want to deal with individual owners instead of operating their own fleet?
The Scale Problem of Charter
Charter companies have a scale problem. Market charter rates are not sufficient to cover all the costs of operating an aircraft unless they fly a lot of hours. When you factor in the fixed costs and cost of capital or leasing, charter rates simply don’t pay enough. The utilization necessary to make a profit by owning the aircraft and chartering it are well beyond what the on-demand charter aircraft typically flies. Scheduled airlines may fly 2,500 hours per year per aircraft and, in many years, still lose money. I ran the break-even revenues for a global business jet for one owner and, accounting for the cost of capital and taxes, calculated that they
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OWNERSHIP
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“Very few charter operators can generate that much revenue flying in a year.” would need about 3,000 charter hours per year. For most charter operators, owning a turbine aircraft is not affordable. Here’s another example to consider. An aircraft that charters for $3,200 per hour can cost about $1,700 per hour for the variable expenses alone. After the charter operator takes its 15%, the owner is left with roughly $2,720 per hour before variable expenses. Factor those in and the owner receives $1,020 per hour in excess of the variable costs. There are fixed costs and, even with discounts available to the owner, those costs might run to $500k per year. Assuming the used jet is valued at $3m, the lease payments are $300k per year. Even if you purchased the aircraft, there is a cost of capital as you cannot invest this money elsewhere. Adding the lease expense plus the fixed expenses, you are now at $800k per year. At an income over operating expense of $1,020 per hour, our owner needs 784 hours of charter revenue to break even before tax considerations. Very few charter operators can generate that much revenue flying in a year.
Who Could Benefit?
For the owner who flies infrequently or has a predictable schedule the revenues from charter can certainly help reduce the cost of flying. The charter operator generates profitable revenues and the owner offsets their costs. With the proper relationship, both the owner and operator can come out ahead and the charter client gets lower rates and a greater selection of aircraft.
Risk Management Benefit
One less obvious advantage of a charter relationship relates to risk management. As the owner of an aircraft, you will have liabilities related to the safe operation of the aircraft. That’s why you have insurance, right? If you charter your aircraft, however, the operational risk is shared with the charter operator, even when you are onboard. They assume responsibility for the safe conduct of the flight. Next month, we’ll address more of the potential issues and concerns associated with chartering your aircraft. More information from www.conklindd.com ❙
Intelligent Decisions on Jet Ownership - with AvBuyer 68 January 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
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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!
773.935.9871 | jimdonath@donathaircraft.com | DonathAircraft.com Challenger 604_World Air.indd 1
10/31/18 4:50 PM
Ownership.qxp_Finance 17/12/2018 11:57 Page 1
OWNERSHIP
How to Save Money in Business Jet Ownership Is your flight operation as efficient as it could be? What are the savings that could be made to the cost of operation and where should you be targeting those savings? Andre Fodor considersâ&#x20AC;¦
70 January 2019 AVBUYER MAGAZINE
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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.
here is no denying that Business Aviation is expensive. Putting aside the acquisition cost of an aircraft, there are plenty more large cost items on an operator’s spreadsheet. As managers and pilots, it’s our job to provide transparent accountability to our principals, curtailing the unnecessary costs as we seek budgetary advantages. You can imagine my shock, then, as I audited a pre-invoice report for the owner of one Large Cabin jet that was coming to the end of a major inspection and found a ‘Walk Around Inspection’ bill for $75k! The owner of this jet was generally a meticulous operator, but he had never hired a director of maintenance. Instead he’d chosen to have everything handled by an authorized service
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center. Since this was a major inspection and the aircraft had been literally taken apart, however, the owner requested my oversight as the project neared its end. Though I would have preferred to follow the project from the beginning, we reviewed the work orders, sign-offs, work performed and the invoices. Major inspections can run close to the $1m mark, and I always ask for a pre-invoice report and highlight each work order title. What caught my attention was that single-line ‘Walk Around Inspection’ item. The aircraft had been in the hangar for nearly four months. The interior had been completely removed allowing access to inspection areas. The airframe had been jacked-up. And the landing gear had been sent away for overhaul. All the exterior inspection panels were removed as well as some control surfaces. The jet had sat untouched and alone for days at a time while parts were out for overhaul. What walk-around inspection could possibly have cost $75k? A discussion with the shop manager followed and I learned the company had a policy to perform a walk-around of all aircraft, every shift. Since there were three daily shifts, the aircraft received a walkaround three times daily. Moreover, although the aircraft was down for four months we learned that the avionics team on a weekly basis had checked whether the databases were out of date. For this ‘task’ there was an additional inspection fee. Needless to say a lengthy discussion was had with the facility’s management over what constituted normal and acceptable service and what was mere ‘invoice padding’. In fairness to the facility, all of its policies were outlined in the inception contract which had duly been signed by the aircraft’s owner. Having a professional assigned to this project from beginning to end would certainly have helped guaranty agreement in pricing, equal expectations and a clear understanding of the work scope approval process. On another occasion, when I reviewed the renewal of annual subscriptions for one of our aircraft I noticed that the data provider was invoicing for a subscription that included Satcom
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“A simple adjustment to the subscription would have saved several thousand dollars on unused services.” and VHF services. Requesting a report of all datalink usage over the past twelve months, it was evident that all traffic had flowed via Satcom. A simple adjustment to the subscription would have saved several thousand dollars on unused services. But after asking many questions internally it became clear that nobody within the Flight Department was clear on whether disabling VHF would inhibit certain CPDLC functions for domestic operations. In the end we chose to maintain the subscription until we were sure that no operational capabilities would be negatively impacted. Nevertheless, we had identified where a cost saving could be made and were proactive in verifying it.
Where to Target the Savings
Cost-effective Business Aviation can never be about the shortcuts an owner/operator might take. Sizable investments in safety, comfort and functionality are necessary. In aviation, however, there’s a rule of thumb that what you don’t pay for now you’ll pay more for later. Within those parameters, there are opportunities for savings and it’s important to focus
on the ‘big-ticket’ items instead of the petty expenses. For example, if the chief pilot of a large flight department tasked with lowering costs immediately focusses on crew hotel costs, meal receipts and airline tickets, he’ll risk dismantling a well-oiled machine for a relatively small saving. (As we discussed in a previous article, there is a particularly high turn-over of crew and maintenance technicians in Business Aviation currently). Penny-pinching will do little to alleviate that within your flight department. A successful manager will see the bigger picture: the areas in which there’s a lack of data gathering or lack of understanding over operational costs. Where are the opportunities for fuel cost enhancements, for example? Could the development of a standard operating procedure addressing the optimal cruise speed (fuel flows) on empty and occupied flights help? These are but two very significant savings opportunities on a line item that can represent as much as 51% of a flight department’s operations budget. When you know where to look for them, there are some real savings to be made, helping save money in your business jet operation... ❙
AvBuyer - Read by Flight Departments Throughout the World 72 January 2019 AVBUYER MAGAZINE
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Aradian April.qxp 25/04/2018 11:08 Page 1
File photo
Gulfstream 550
Gulfstream 450 Several aircraft available
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1 Corporate Concepts January.qxp 20/12/2018 09:42 Page 1
Gulfstream G-V • New (17) Seventeen Passenger Interior with Forward and Aft • Lavatories, Must See the Comfort and Features of this Interior • Enrolled in Corporate Care, CASP and HAPP • Heater Ribbon ASC Completed – Recent Inspections • Current Part 135 • New Aircraft Delivering, Ready to Review All Offers • Owner Ready to Sell – Available Immediately
2012 Phenom 300 – Off Market • Engines Enrolled on JSSI - 100% Coverage • Airframe Enrolled in Embraer Executive Care • One Fortune 500 Operator Since New – Always Hangared • Nine Passenger Interior Configuration • High Speed Internet and Electronic Charts • Increased Gross Weight Service Bulletin • Less than 2,000 Hours Total Time
VVIP Boeing 737 – Exceptional Value • This Low Time B737, 7500 hours, Never Been in Airline Service and Offers the Same Size and Ultimate Comfort as a BBJ at a Fifth of the Cost of the Oldest BBJ • For Sale or Lease – Immediately Available • Recent Upgrades and Refurbishments to Interior, Exterior and Avionics and Includes an Extensive Spares Package • Ultimate Passenger Seating Comfort for 24 Passengers with New Generation Cabin Management System • Upgrades for New Flight Regulations and Safety Including High Speed Internet, CPDLC, FANS-1/A, ADS-B, Synthetic Vision and Enhanced Vision System • Advanced, More Powerful and Fuel Efficient JT8D-17A Engines are Stage III Compliant and have Fresh Shop Visits on Both Engines • Auxiliary Fuel System Provides 3,500 nm Real World Range. • For More Details and a Video of this Aircraft Visit www.flycci.com
Also Available – Falcon 900B, McDonnell Douglas VIP DC8-72 Wanted – Legacy 600 and Gulfstream G-550 Please visit www.flycci.com for details and photos. Dennis Blackburn +1.832.647.7581 blackburn@flycci.com
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Larry Wright +1.704.906.3755 lwright@flycci.com
2 Corporate Concepts January.qxp 20/12/2018 09:43 Page 1
Corporate Concepts International, Inc. Whether adding an aircraft to your fleet or buying your first corporate jet, why not have all the advantages, expertise and experience that has made CCI a leading aviation advisory and consulting firm. For over 40 years, CCI has been a recognized leader in Aircraft Search and Acquisition Services. Our list of services are comprehensive and total turn-key in finding the best value and technically correct aircraft that meets your objectives. Our established experience, proven expertise and worldwide network make the difference and saves you money and time. We manage the risks and details that accompany an aircraft acquisition or lease. CCI offers our clients an unconditional 100% Performance Guarantee regarding our acquisition services fee. Give your new aircraft purchase the advantage of CCI being part of your team. You will benefit having CCI on your side of the transaction. CCI's proven expertise and experience will make a difference. The CCI team will be adding valuable insight from the start to the finish of your aircraft acquisition. Our experts will be onsite to protect your interests during all phases of the aircraft acquisition including advising and managing contract negotiations, the pre-purchase inspection, test flight, and closing. On new aircraft acquisitions these services also include advising and monitoring options selections, the manufacture, the acceptance inspections, new completion, and final acceptance of your new aircraft.
Give us a call to discuss your aircraft purchase, receive an assessment of your current aircraft value and discuss in more detail exactly what we can do for you. You can visit our website, www.flycci.com to view testimonials from other clients we have recently served with their aircraft purchase. CCI provides the highest level of individualized commitment designed to achieve all your goals and we guarantee each clientâ&#x20AC;&#x2122;s full satisfaction. Put the advantages of our expertise and 40 years of experience to work for you and enjoy the advantages of all we have to offer. Contact Dennis A. Blackburn, President, CCI to discuss your aircraft next purchase, leasing, financing, management and the current value of your current aircraft. Call +1 832 647 7581 or write us at blackburn@flycci.com
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Values Intro.qxp_Finance 18/12/2018 12:32 Page 1
VALUES - LARGE CABIN JETS
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Business Aircraft Values: The Large Cabin Choice There are occasions when the operator’s mission dictates an aircraft of larger capacity. This month our value study focuses on our definition of Large Cabin and Ultra-LongRange business jets. he average Large Cabin and Ultra-Long-Range jets share more in common than they differ, with similar cabin sizes and comparable cruise speeds ranging roughly between 450-500kts. For the purpose of this month’s focus, we’ll categorise Large Cabin and Ultra-Long-Range jets under the generic category of ‘Large Cabin jets’, on the basis of their shared characteristics, and MTOWs that generally range between 38,000-100,000 pounds. Large Cabin jets have much in their favor. Seatsfull range capabilities typically go up to, and into the 6,000nm range, making these effective nonstop continent and ocean-crossing machines. The fewer the stops, the shorter the overall trip time! One disadvantage the Large Cabin jets have over their Small and Medium jet kin is their need for runways longer than 6,000ft, which restricts the number of airports they can use by comparison. Nevertheless, for the trans-oceanic traveller, the advantages offered by these airplanes far outweigh the negatives. Where the Large Cabin airplanes really excel (as the name would suggest) is in their cabin capacities. A cabin will typically stretch from 30-40 feet or more, enabling operators to enjoy a wider array of finishing options and office capabilities than jets in the smaller segments can provide. Cabin heights in excess of six feet guarantees stand-up cabin comfort, while seating capacity of 8-18 is typical.
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Naturally, the size and range capabilities of Large Cabin jets don’t come cheaply, and you’ll need a larger fuel budget, more hangar space and a larger maintenance budget. Yet for the company with the need, the Large Cabin jet will rarely prove too small, and only occasionally be too large for an airport you’d prefer to access. In these situations, supplemental charter is the answer.
Large Cabin Jet Price Guide
The following Large Cabin 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 Gulfstream G450 values reported in the Winter 2018 edition of the Bluebook show $18m for a 2013 model, $17m for a 2012 model and so forth. Aircraft are listed alphabetically. With the reader’s knowledge of aircraft, equipment, range and performance, the following Guide allows the reader to determine the best value aircraft for consideration. Note: We have included 41 aircraft models in the following Large Cabin 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 84
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P077.qxp 18/12/2018 15:28 Page 1
LEKTRO
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Desktop Aircraft Appraisals / On-Site Asset Verification and Logbook Review Residual Values / Customized Analysis www.AVBUYER.com
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VALUES - LARGE CABIN JETS
Large Cabin Jets: Average Retail Price Guide MODEL YEAR $
2018 US$M
2017 US$M
2016 US$M
2015 US$M
2014 US$M
13.0
-
15.0
14.0 15.0
2013 US$M
2012 US$M
2011 US$M
2010 US$M
2009 US$M
-
12.0
11.0
10.0
9.0
12.5
11.5
10.5
10.6
9.6
9.1
MODEL BOMBARDIER CHALLENGER 850ER BOMBARDIER CHALLENGER 650
24.0
22.0
20.0
BOMBARDIER CHALLENGER 605
17.0 9.750
9.250
BOMBARDIER CHALLENGER 604 BOMBARDIER CHALLENGER 350
20.0
18.0
17.0
16.0
13.0
12.0
11.5
BOMBARDIER GLOBAL 6000
46.0
43.0
37.0
35.0
33.0
30.0
27.0
BOMBARDIER GLOBAL 5000
36.0
34.0
32.0
29.0
26.0
24.0
22.0
19.0
17.5
15.5
21.5
19.5
18.5
17.5
BOMBARDIER CHALLENGER 300
BOMBARDIER GLOBAL EXP XRS BOMBARDIER GLOBAL EXP DASSAULT FALCON 8X
55.0
52.0
47.0
DASSAULT FALCON 7X
45.0
42.0
36.0
31.0
27.0
25.0
DASSAULT FALCON 2000LXS
31.0
28.0
25.0
23.0
21.5
20.0
DASSAULT FALCON 2000S
27.0
24.0
22.0
20.0
17.0
16.0
DASSAULT FALCON 2000LX
20.0
23.0
17.5
20.0
15.5
DASSAULT FALCON 2000DX EASy
17.0
16.0
13.5
12.5
12.0
10.0
DASSAULT FALCON 2000EX EASy
11.5
DASSAULT FALCON 2000EX DASSAULT FALCON 2000 DASSAULT FALCON 900LX
38.0
35.0
29.0
25.0
23.0
21.0
20.0
19.0
17.5
DASSAULT FALCON 900DX
14.5
13.5
DASSAULT FALCON 900EX EASy
17.0
16.0
18.0
DASSAULT FALCON 900EX DASSAULT FALCON 900C EMBRAER LINEAGE 1000E
45.0
42.0
40.0
22.0
18.0
17.0
30.0
27.0
EMBRAER LINEAGE 1000 EMBRAER LEGACY 650-135BJ EMBRAER LEGACY 600-135BJ
25.0
24.0
22.0
20.0
15.0
14.0
13.0
12.0
10.0
9.0
13.0
11.0
10.0
8.0
-
7.5
7.0
16.0
15.0 45.0
EMBRAER LEGACY 135BJ EMBRAER LEGACY 500
18.5
17.5
16.5
EMBRAER LEGACY 450
15.5
14.5
13.5
12.5
GULFSTREAM G650ER
66.0
61.0
55.0
52.0
50.0
48.0
GULFSTREAM G550
46.0
42.0
36.0
33.0
30.0
28.0
GULFSTREAM G500 GULFSTREAM G450
24.0
21.0
19.5
18.0
26.0
24.0
22.0
20.0
20.0
19.0
18.0
17.0
17.0
15.0
14.0
13.0
12.5
10.5
9.5
8.5
GULFSTREAM G400 GULFSTREAM G350 GULFSTREAM G300 GULFSTREAM G280
22.0
19.0
17.5
16.5
15.5
14.5
13.5
GULFSTREAM GV GULFSTREAM G1V-SP AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM
78 January 2019 AVBUYER MAGAZINE
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Retail Values2018.qxp_RPG 18/12/2018 12:31 Page 2
AVBUYER.com
What your money buys today
Winter 2018 2008 US$M
2007 US$M
2006 US$M
8.0
7.0
6.0
8.250
7.750
2005 US$M
2004 US$M
2003 US$M
2002 US$M
2001 US$M
2000 US$M
1999 US$M
MODEL YEAR $ MODEL BOMBARDIER CHALLENGER 850ER BOMBARDIER CHALLENGER 650
6.3
BOMBARDIER CHALLENGER 605 6.0
5.7
5.4
5.0
4.7
4.5
4.2
4.0
BOMBARDIER CHALLENGER 604 BOMBARDIER CHALLENGER 350
8.4
7.6
7.2
6.7
13.5
12.5
11.5
10.5
16.5
15.550
14.5
6.4
6.1
BOMBARDIER CHALLENGER 300 BOMBARDIER GLOBAL 6000 BOMBARDIER GLOBAL 5000
13.5 12.0
BOMBARDIER GLOBAL EXP XRS 11.0
10.250
9.750
9.0
8.0
7.0
BOMBARDIER GLOBAL EXP DASSAULT FALCON 8X
15.0
14.0
DASSAULT FALCON 7X DASSAULT FALCON 2000LXS DASSAULT FALCON 2000S
11.5
10.5
DASSAULT FALCON 2000LX
9.5 11.0
DASSAULT FALCON 2000DX EASy 10.0
9.5
9.0
7.5
7.0
6.4
12.5
11.5
10.5
9.5
15.0
14.0
13.0
12.0
8.7
DASSAULT FALCON 2000EX EASy
7.5
6.8
5.9
5.2
DASSAULT FALCON 2000EX 4.9
4.5
3.7
3.5
DASSAULT FALCON 2000 DASSAULT FALCON 900LX
8.6
DASSAULT FALCON 900DX 11.0 7.6
10.5
DASSAULT FALCON 900EX EASy
8.7
8.2
7.8
7.1
6.6
DASSAULT FALCON 900EX
6.9
6.7
6.1
6.0
5.6
DASSAULT FALCON 900C EMBRAER LINEAGE 1000E EMBRAER LINEAGE 1000 EMBRAER LEGACY 650-135BJ
6.5
6.0
EMBRAER LEGACY 600-135BJ 5.5
5.0
4.5
4.2
4.0
EMBRAER LEGACY 135BJ EMBRAER LEGACY 500 EMBRAER LEGACY 450 GULFSTREAM G650ER
19.0
17.0
16.0
15.0
14.0
13.0
GULFSTREAM G550
15.5
14.5
12.5
10.5
9.5
8.5
GULFSTREAM G500
12.0
11.0
10.0
9.0
8.0
7.2
5.5
5.0
GULFSTREAM G450 6.8
6.3
5.0
4.5
GULFSTREAM G400 GULFSTREAM G350 GULFSTREAM G300 GULFSTREAM G280 11.8
10.8
10.3
9.8
GULFSTREAM GV
6.6
6.1
5.7
5.4
GULFSTREAM G1V-SP
AIRCRAFT BLUEBOOK DATA - CHRIS REYNOLDS, EDITOR. EMAIL: CHRIS.REYNOLDS@INFORMA.COM
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AVBUYER MAGAZINE January 2019
79
Wright Brothers dps January.qxp_Empyrean 18/12/2018 12:04 Page 1
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Wright Brothers dps January.qxp_Empyrean 18/12/2018 12:05 Page 2
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AVBUYER MAGAZINE January 2019
81
ACSpecs Intro.qxp_AC Specs Intronov06 18/12/2018 12:20 Page 1
SPECIFICATIONS - LARGE CABIN JETS
Aircraft Performance & Specifications Large Cabin Jets
T
he AvBuyer Magazine Guide to Aircraft Performance and Technical Specification Data is updated by Conklin & de Decker on a regular basis. The Guide is much more comprehensive and informative, providing more aircraft types and models and including variable cost numbers for all models. This month’s category of aircraft - Large Cabin Jets – appears opposite, to be followed by Medium Jets next month. Please note that this data should be used as a guide only, and not as the basis on which buying decisions are taken. The data presents aircraft aged below 20 years of age only, but Conklin & de Decker provides details of older airplanes too. If there are any other ways in which we can improve the content or presentation of this information, please let us know.
Tel: +44 (0) 208 255 4000; Email: editorial@avbuyer.com © 2019 Conklin & de Decker Associates, Inc., P.O. Box 1142, Orleans, Massachusetts, 02653, Tel. 508-255-5975, www.conklindd.com
Description of Cost Elements
The following describes the content of each cost element used in The Aircraft Cost Evaluator. There are no sales taxes included in these costs.
SPECIFICATIONS - GENERAL
Cabin Dimensions: Cabin Height, Width, and Length are based on a completed interior. On “cabin-class” aircraft, the length is measured from the cockpit divider to the aft pressure bulkhead (or aft cabin bulkhead if unpressurized). For small cabin aircraft, the distance is from the cockpit firewall to the aft bulkhead. Height and width are the maximum within that cabin space. Cabin Volume is the interior volume, with headliner in place, without chairs or other furnishings.
•
Maximum Payload is the maximum zero fuel weight minus the basic operating weight.
Performance Range: • Ferry Range - is the maximum IFR range of the aircraft with the maximum fuel on board and no passenger seats occupied. This uses the NBAA IFR alternate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft.
Seats Executive: This is the typical crew and passenger seating commonly used on the aircraft. This is not the maximum certificated seats of the aircraft. These numbers may vary for different operations (Corporate, Commercial, EMS, etc.).
Cruise Speed: (Knots True Air Speed - KTAS) Max Cruise Speed - is the maximum cruise speed at maximum continuous power. This may also be commonly referred to as High Speed Cruise.
Weights: • Maximum Take-Off Weight is specified during aircraft certification.
Engines: The number of engines, manufacturer and model are shown.
84 January 2019 AVBUYER MAGAZINE
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Specifications.qxp_PerfspecDecember06 18/12/2018 12:16 Page 1
38850
3350
3065
470
2
HTF7000
BOMBARDIER CHALLENGER 350
6.08
7.17
23.7
930
8
40600
3400
3277
470
2
HTF7350
BOMBARDIER CHALLENGER 604
6.08
8.17
28.4
1146
10
48200
4815
3756
488
2
CF34-3B
BOMBARDIER CHALLENGER 605
6.08
8.17
28.4
1146
10
48200
4850
3756
488
2
CF34-3B
BOMBARDIER CHALLENGER 650
6.08
8.17
28.4
1146
10
48200
4850
3756
488
2
CF34-3B MTO
BOMBARDIER GLOBAL EXPRESS
6.25
8.17
48.35
2002
13
95000
5700
5940
505
2
BR 710-A2-20
BOMBARDIER GLOBAL EXPRESS XRS
6.25
8.17
48.35
2002
13
98000
4800
6055
511
2
BR 710-A2-20
BOMBARDIER GLOBAL 5000
6.25
8.17
42.47
1889
13
92500
7139
5200
511
2
BR 710-A2-20
BOMBARDIER GLOBAL 6000
6.25
8.17
48.35
2002
13
99500
5770
5890
511
2
BR 710-A2-20
DASSAULT FALCON 2000
6.2
7.7
31.2
1028
10
35800
5910
2841
475
2
CFE 738-1-1B
DASSAULT FALCON 2000DX
6.2
7.7
31.2
1028
10
41000
6510
3378
482
2
PW308C
DASSAULT FALCON 2000EX
6.2
7.7
31.2
1028
10
42200
6510
3878
482
2
PW308C
DASSAULT FALCON 2000EX EASy
6.2
7.7
31.2
1028
10
42200
6510
3878
482
2
PW308C
DASSAULT FALCON 2000S
6.2
7.7
31.2
1028
10
41000
4950
3371
479
2
PW308C
DASSAULT FALCON 2000LX
6.2
7.7
31.2
1028
10
42800
5200
3891
478
2
PW308C
DASSAULT FALCON 2000LXS
6.2
7.7
31.2
1028
10
42800
4950
3803
478
2
PW308C
DASSAULT FALCON 900C
6.2
7.7
33.2
1270
12
45500
2945
3450
500
3
TFE 731-5BR-1C
DASSAULT FALCON 900DX
6.2
7.7
33.2
1270
12
46700
5064
4100
482
3
TFE 731-60
DASSAULT FALCON 900EX
6.2
7.7
33.2
1270
12
48300
6164
4500
482
3
TFE 731-60
DASSAULT FALCON 900EX EASy
6.2
7.7
33.2
1270
12
49000
6164
4500
482
3
TFE 731-60
ENGINE MODEL
NUMBER OF ENGINES
8
MAX SPEED (ktas)
930
(NBAA IFR FUEL RESERVES)
23.7
FERRY RANGE-nm
CABIN VOLUME (Cuft)
7.17
MAX PAYLOAD (lbs)
CABIN LENGTH (ft)
6.08
MAX TAKEOFF (lbs)
CABIN WIDTH (ft)
BOMBARDIER CHALLENGER 300
PASS SEATS TYPICAL
CABIN HEIGHT (ft)
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Airplane performance and specification numbers can vary depending on how they are measured. Please note this data should be used as a guide only, and not the basis on which buying decisions are taken.
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85
Specifications.qxp_PerfspecDecember06 18/12/2018 12:17 Page 2
CABIN VOLUME (Cuft)
PASS SEATS TYPICAL
MAX TAKEOFF (lbs)
MAX PAYLOAD (lbs)
(NBAA IFR FUEL RESERVES)
MAX SPEED (ktas)
NUMBER OF ENGINES
6.2
7.7
33.2
1270
12
49000
4114
4800
482
3
TFE 731-60
DASSAULT FALCON 7X
6.2
7.7
39.1
1506
12
70000
4400
5466
492
3
PW307A
DASSAULT FALCON 8X
6.2
7.7
42.7
1695
12
73000
4900
6290
-
3
PW307D
EMBRAER LEGACY 500
6
6.83
27.5
823
8
38360
2650
2762
472
2
HTF7500E
EMBRAER LEGACY 600
6
6.92
49.8
1656
13
49604
4855
3091
455
2
AE 3007A1E
EMBRAER LEGACY 650
6
6.92
49.8
1656
13
53572
4938
3661
459
2
AE 3007A2
EMBRAER LEGACY 650E
6
6.92
49.8
1656
13
53572
4938
3661
459
2
AE 3007A2
EMBRAER LINEAGE 1000
6.58
8.75
84.32
3914
19
120152
9625
4198
472
2
CF34-10E7-B
EMBRAER LINEAGE 1000E
6.58
8.75
84.32
3914
19
120152
9921
4242
471
2
CF34-10E7-B
GULFSTREAM G IV SP
6.2
7.3
45.1
1658
13
74600
5300
3880
500
2
TAY 611-8
GULFSTREAM G V
6.2
7.3
50.1
1812
13
90500
6100
6250
508
2
BR 710-A1-10
GULFSTREAM G280
6.25
7.2
32.25
888
8
39600
4050
3590
482
2
HTF7250G
GULFSTREAM G300
6.2
7.3
45.1
1658
13
72000
5300
3486
500
2
TAY 611-8
GULFSTREAM G350
6.2
7.3
45.1
1658
14
70900
6000
3680
500
2
TAY 611-8C
GULFSTREAM G400
6.2
7.3
45.1
1658
13
74600
5300
3880
500
2
TAY 611-8
GULFSTREAM G450
6.2
7.3
45.1
1658
14
74600
6000
4070
500
2
TAY 611-8C
GULFSTREAM G500
6.3
7.9
47.58
1715
8
79600
5250
5135
516
2
PW815GA
GULFSTREAM G550
6.2
7.3
50.1
1812
18
91000
6600
6360
508
2
BR710-C4-11
GULFSTREAM G650
6.4
8.5
53.6
2421
18
99600
6500
6520
516
2
BR725 A1-12
GULFSTREAM G650ER
6.4
8.5
53.6
2421
18
103600
6500
7095
516
2
BR725 A1-12
ENGINE MODEL
CABIN LENGTH (ft)
DASSAULT FALCON 900LX
FERRY RANGE-nm
CABIN WIDTH (ft)
AVBUYER.com
CABIN HEIGHT (ft)
SPECIFICATIONS - LARGE CABIN JETS
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.
86 January 2019 AVBUYER MAGAZINE
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AirCompAnalysis SAMPLE.qxp_ACAn 18/12/2018 14:52 Page 1
JET COMPARISON
Aircraft Comparative Analysis Embraer Phenom 100EV versus HondaJet In this month’s Jets Comparison, Mike Chase provides information on a pair of business jets, the Embraer Phenom 100EV and the HondaJet HA-420. ver the following paragraphs we consider key productivity parameters (payload, range, speed and cabin size) and cover current market values for the Embraer Phenom 100EV compared to the HondaJet HA-420 business jet. For extra measure, we’ll also factor the Phenom 100 and 100E jet models. Embraer’s Phenom 100EV has a capacity for five passengers in executive configuration, but it can carry up to seven passen gers with a single pilot and an interior configuration option of a side-facing seat and belted toilet. The original Phenom 100 is powered by a pair of Pratt & Whitney PW617F-E engines that employ a Full Authority Digital Electrical Control (FADEC) system, making them extremely efficient in-flight. The Phenom 100 also utilizes a Garmin G1000 avionics system that is re-named the ‘Prodigy’ Flight Deck 100 fo r this aircraft. US and Brazilian certification for the Phenom 100 came in 2008, with first delivery also being made that year. Starting at serial number 325, however, Embraer introduced a refreshed version of the original aircraft in the form of the Phenom 100E. Among the updates were Embraer’s latest Prodigy flight deck and more capable brake-by-wire software. In 2017, Embraer delivered the first of its current version, the Phenom 100EV. New features in the 100EV centered around enhanced performance and included a Prodigy Touch flight deck based on the popular Garmin G3000 suite (standard on the larger Phenom 300). The Phenom 100EV’s engines were also upgraded to the PW617F1-E model, offering increased thrust, helping
O
88 January 2019 AVBUYER MAGAZINE
improve the jet’s hot and high performance, and adding more range and a faster climb.
Worldwide Appeal
Of 307 Phenom 100 jets built, 296 remain in operation of which 274 are wholly-owned, eight are in shared ownership and 14 are in fractional ownership. Two demonstrators are at the factory and nine of the type have been retired. By comparison, 49 Phenom 100E jets were built, all of which remain in operation today. Fortyeight of those are wholly-owned and one is in shared ownership. Final ly, 22 Phenom 100EVs have been built to date. Twenty are in operation globally and all 20 are whollyowned. Two are awaiting customer delivery at the factory. As of October 2018, the Embraer Phenom 100 series jet fleet comprised of 53% owned since new versus 47% purchased as used. Of the Phenom 100, 100E and 100EV aircraft in operation by continent, North America had the largest percentage (52%), follow ed by South America (28%) and Europe (14%), accounting for a combined total of 94% of the fleet. Of of the Phenom 100 series jets in operation today, 22% are in fleet ownership with the largest fleet operator (Executive Flight Services, Inc.) owning 12 aircraft. Of the HondaJet aircraft in operation, by continent North America had the largest percentage (83%). All aircraft are wholly owned. Fewer than 5% of the HondaJets in operation today are in fleet ownership. The largest fleet operators (Aero Care Medical Transport System, Inc. and GE Corporate Air Transport) own two aircraft each. www.AVBUYER.com
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AirCompAnalysis SAMPLE.qxp_ACAn 18/12/2018 14:53 Page 2
www.AVBUYER.com HOW MANY
EXECUTIVE
SEATS
EMBRAER
5
Phenom 100EV
(Manufactured 2017-Present)
$4.4 Million
vs.
(2018 Model)
HondaJet
5
HA-420
(Manufactured 2016-Present)
$5.0 Million (2018 Model)
WHICH OF THESE LIGHT jets WILL COME OUT ON TOP? HOW MUCH
RUNWAY DO I NEED?
(Balanced field length, ft)
4,466
Embraer Phenom 100EV 3,990 *
HondaJet HA-420 1000
1500
HOW FAR
CAN WE GO?
(Nautical Miles. 4 Pax)
5,920
2500
2000
3000
CAN WE TAKE?
(Lbs)
1,334
Phenom 100EV
1,092
Phenom 100EV
HondaJet HA-420
1,065
HondaJet HA-420
1,521
HOW MANY
HOW MANY
OPERATION?
EACH MONTH?
UNITS IN 22 78
3500
4000
4500
NEW/USED SOLD
LONG RANGE CRUISING SPEED? Phenom 100EV
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(Knots) 340
HondaJet HA-420
360
WHAT’S THE
COST PER HOUR?
1 (0.0%) 4 (15.4%)
Phenom 100EV HondaJet HA-420
Sources used: Conklin & de Decker, Chase & Associates, JETNET, Vref.
5000
WHAT’S THE
HOW MUCH
PAYLOAD
*From HondaJet.com
12-Month Average Figure
(% = Global Fleet For Sale)
$1,179 $1,064
AVBUYER MAGAZINE January 2019
89
AirCompAnalysis SAMPLE.qxp_ACAn 18/12/2018 14:54 Page 3
JET COMPARISON
AVBUYER.com
Table A - Payload & Range HondaJet Phenom 100 HA-420 100E 100EV
10,472 10,582 10,582 10,600
2,804
MTOW (lb)
2,845
Max Fuel (lb)
Source: Embraer, Honda, B&CA, JETNET
1,312 1,334 1,334
1,521
Max Payload (lb)
580 602 602
Payload & Range Comparison
556
Avail Payload w/Max Fuel (lb)
710 701 466
600
Max P/L With Avail Fuel IFR Range (nm)
1,312 1,334 1 334
Chart A - Cabin Cross-Section Embraer Phenom 100/100E/100EV
Honda Aircraft HA-420 HondaJet
Source: UPCAST JETBOOK
Chart B - Range Comparison
As we have mentioned in past articles, a potential operator should focus on payload capability as a key factor. Table A (left) shows the Phenom 100 series’ Available Payload with Maximum Fuel ranges between 580 to 602lbs, all of which are slightly more than offered by the HondaJet (556lbs).
Cabin Comparison
Chart A (left) shows a cabin crosssection comparison with the Phenom 100 series offering the same 5.1ft width and 4.9ft height. The HondaJet has approximately 1 inch less height and width, per our UPCAST JETBOOK graphic. Not depicted in the graphic, however, the Phenom 100 series has a shorter cabin (11ft) compared to the HondaJet (12.1ft), and therefore a slightly smaller overall cabin volume (280cu ft) compared to the HondaJet (282cu ft). The Phenom 100 does offer greater baggage space . The Phenom 100 series offers 10cu ft of internal and 60cu ft external baggage space, while the HondaJet has no internal, but 66cu ft external baggage space.
Range Comparison
Phenom 100EV 1,092 nm (w/4 Pax) HondaJet HA-420 1,065 nm (w/4 Pax)
As depicted by Chart B (left) using Melbourne, Florida as the origin point, the Phenom 100EV (1,092nm) shows slightly more range coverage than the HondaJet (1,065nm). For business jets, ‘Four Pax Range’ represents the maximum IFR range of the aircraft at long range cruise, with NBAA IFR fuel reserve and a 200nm alternate. This range does not include winds aloft or any other weatherrelated obstacles.
Powerplant Details
Source: Chase & Associates
90 January 2019 AVBUYER MAGAZINE
As mentioned, the Phenom 100 is powered by a pair of Pratt & Whitney Canada PW617F engines each offering 1,615lbst. The Phenom 100E, meanwhile employs the 1,820lbst PW617E-F, and the 1,780lbst PW617F1-E is utilized on the Phenom 100EV. By comparison, the HondaJet offers
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9
Leading Edge January.qxp_Layout 1 19/12/2018 09:26 Page 1
2007 Citation CJ2+ s/n 525A-377
AirCompAnalysis SAMPLE.qxp_ACAn 18/12/2018 15:17 Page 4
JET COMPARISON
AVBUYER.com
S
Chart C – Cost per Mile* Phenom 100
a pair of GE Honda HF120 engines with 2,095lbst each. The Time Between Overhaul (TBO) for the HondaJet is greater (5,000 hours) than for the Phenom 100 series (3,500 hours).
$4.82
Phenom 100E
$5.76
Phenom 100EV
$5.26
HondaJet HA-420
$5.28
$0.00
$2.00 $4.00 US $ per nautical mile
Cost Per Mile
Chart C (left) details ‘Cost per Mile’ and compares the Phenom 100 series to their HondaJet competitor, factoring direct costs (no depreciation) and with each aircraft flying a 600nm mission with an 800lbs (four passengers) payload. The average US Jet-A fuel cost used for November 2018 was $4.94 per gallon. The Phenom 100EV shows the lower cost per nautical mile at $5.26, compared to $5.28 for the HondaJet HA-420 – a relatively insignificant difference. The Phenom 100 has the lowest cost at $4.82 of all aircraft in the field.
$6.00
* 600nm mission costs (No Depreciation) Source: JETNET
Chart D – Variable Cost Phenom 100
$1,118
Phenom 100E
$1,272
Phenom 100EV
$1,179 $1,064
HondaJet HA-420 $0
$500
$1,000
$1,500
US $ per hour
Source: JETNET
Total Variable Cost
Table B - Aircraft Comparison Table S
HondaJet Phenom HA-420 100 100E 100EV
333 333 340
280
360
Long Range Cruise Speed (Kts)
282
1,044 1,050 1,092 1,065
(100EV) $5.001
New 2018 Vref Price $USm
Range (4 Pax) nm
Cabin Volume Cu Ft
$4.400
296 49 22
6.4% 18.4% 0.0% 15.4%
78
% For Sale
In Operation
3 1 1
*Average Full Sale Transactions in the past 12 months as of Oct. 2018; Source: JETNET Data courtesy of Vref; JETNET
Chart E - Maximum Scheduled Maintenance Equity Assumed Annual Utilization: 230 Flight Hours Average Maximum Maintenance Equity: $1,368,297 Pct of Avg Max Mtnc Equity vs. Aircraft Age 100% 90%
Pct of Max Mtnc Equity
80% 70% 60% 50% 40% 30% 20% 10% 0%
1
2
3
4
5
6
7
Source: Asset Insight (www.assetinsight.com)
92 January 2019 AVBUYER MAGAZINE
8
9
10
11
Aircraft Age (Years)
12
13
14
15
16
4
Average Per Month Sold*
The ‘Total Variable Cost’ illustrated in Chart D (left) and sourced from JETNET, is defined as the Cost of Fuel Expense, Maintenance Labor Expense, Scheduled Parts Expense, and Miscellaneous Trip Expense (hangar, crew and catering). The Total Variable Cost for the Phenom 100EV computes at $1,179/hour compared to the HondaJet’s variable cost is $1,064/hour.
Aircraft Comparison Table
Table B (left) contains the new prices (per Vref) for the Phenom 100EV and HondaJet. The average speeds and ranges are from Conklin & de Decker, while the number of aircraft inoperation, percentage ‘For Sale’ and average sold are as reported by JETNET. The Phenom 100 fleet had 6.4% of its fleet for sale at the end of October 2018, while the Phenom 100E had 18.4% and the HondaJet 15.4% on the market. The average number of new and used transactions (sold) per month is three for the Phenom 100, one each for the Phenom 100E and 100EV and four for the HondaJet over the past 12 months.
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2014 Dassault Falcon 7X • s/n 212
2009 Gulfstream G200 • s/n 232 • N868SC
2012 Citation XLS+ • s/n 6114 • N560DA
2013 Citation Mustang 510 • s/n 0441 • N570LT
1999 Gulfstream GIVSP • s/n 1395 • N396NS
2000 Gulfstream GIVSP • s/n 1407 • N07NS
2004 Lear 40 • s/n 2007
1998 Falcon 2000 • s/n 062
GLOBALLY INTIMATE. Brokerage | Acquisitions | Sales | Management n +1 (954) 377-0303 | e acsales@scross.com | d www.scross.com | f i
AirCompAnalysis SAMPLE.qxp_ACAn 18/12/2018 14:55 Page 5
JET COMPARISON
Table C - Part 91 & 135 MACRS Schedule
Maximum Scheduled Maintenance Equity
MACRS Schedule for PART 91 Year Deduction
1
2
3
4
5
6
20.0%
32.0%
19.20%
11.52%
11.52%
5.76%
MACRS Schedule for PART 135 Year Deduction
1
2
3
4
5
6
7
8
14.29%
24.49%
17.49%
12.49%
8.93%
8.92%
8.93%
4.46%
Source: NBAA
PRIVA
Table D - MACRS Depreciation Schedule 2018 Phenom 100EV - PRIVATE (PART 91) Full Retail Price - Million $4.400 Year
1
Rate (%)
20.0%
2
32.0%
5.8%
11.5%
11.5%
Depreciation ($M)
$0.880
$1.408
$0.845
$0.507
$0.507
$0.253
Cum. Depreciation ($M)
$0.880
$2.288
$3.133
$3.640
$4.147
$4.400
Depreciation Value ($M)
$3.520
$2.112
$1.267
2018 Phenom 100EV
$0.000
$0.253
$0.760
Depreciation Schedule
6
5
4
3
19.2%
- PRIVATE (PART 135)
Full Retail Price - Million $4.400 Year
1
Rate (%)
14.3%
2
24.5%
3
17.5%
6
5
4
8.9%
8.9%
12.5%
7
8.9%
Depreciation ($M)
$0.629
$1.078
$0.770
$0.550
$0.393
$0.392
$0.393
Cum. Depreciation ($M)
$0.629
$1.706
$2.476
$3.025
$3.418
$3.811
$4.204
Depreciation Value ($M)
$3.771
$2.694
$1.924
$0.589
$0.982
$1.375
$0.196
8
4.5%
$0.196 $0.000 $4.400
Source: Vref
Table E - MACRS Depreciation Schedule 2018 HONDAJET HA-420 - PRIVATE (PART 91) Full Retail Price - Million $5.000 Year
Rate (%)
1
20.0%
2
32.0%
3
11.5%
$1.440
$0.864
Depreciation ($M)
$1.000
$1.600
$0.960
Cum. Depreciation ($M)
$1.000
$2.600
$3.560
Depreciation Value ($M)
$4.000
$2.400
4
19.2%
5
11.5%
6
5.8%
0.576
$0.576
$0.288
$4.136
$4.712
$5.000
$0.288
$0.000
2018 HONDAJET HA-420 - (PART 135) Full Retail Price - Million $5.000 Year
Rate (%)
1
14.3%
2
24.5%
3
17.5%
4
12.5%
5
8.9%
6
8.9%
7
8.9%
Depreciation ($M)
$0.715
$1.225
$0.875
$0.625
$0.447
$0.446
$0.447
Cum. Depreciation ($M)
$0.715
$1.939
$2.814
$3.438
$3.885
$4.331
$4.777
Depreciation Value ($M)
$4.286
Source: Vref
94 January 2019 AVBUYER MAGAZINE
$3.061
$2.187
$1.562
$1.116
$0.670
Chart E (previous page) displays the Phenom 100 and depicts the Maximum Maintenance Equity the jet has available based on its age. Similar data was not available for the Phenom 100E, 100EV or HondaJet. The Maximum Maintenance Equity figure was achieved the day the aircraft came off the production line (since it had not accumulated any utilization toward any maintenance events). The percentage of the Maximum Maintenance Equity that an average Phenom 100 will have available, based on its age, assumes average annual utilization of 230 flight hours, and that all maintenance is completed when due.
$0.223
8
4.5%
$0.223 $0.000 $5.000
Aircraft that are owned and operated by businesses are often depreciable for income tax purposes under the Modified Accelerated Cost Recovery System (MACRS). Under MACRS, taxpayers can use accelerated depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period (see Table C (top, left)). In certain cases, aircraft may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS) where depreciation is based on a straight-line method, meaning that equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are longer than recovery periods available under MACRS. There is a variety of factors that taxpayers must consider in determining if an aircraft may be depreciated, and if so, the correct depreciation method and recovery period that should be utilized. For example, aircraft used in charter service (i.e. Part 135) are normally depreciated under www.AVBUYER.com
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AirCompAnalysis SAMPLE.qxp_ACAn 18/12/2018 14:58 Page 6
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Asking Prices & Quantity
The current used market for the Phenom 100 aircraft shows a total of 21 jets ‘For Sale’ with seven displaying asking prices ranging between $1.895m - $2.75m. For the Phenom 100E, a total of 10 aircraft are listed for sale, five of which display asking prices ranging between $2.95 - $3.6m. There are currently no Phenom 100EV for sale on the used jet market. The current used market for the HondaJet HA-420 aircraft shows a total of 12 jets for Sale with four displaying asking prices ranging between $3.889m - $4.6m. While each serial number is unique, the Air frame Total Time (AFTT) and age/condition will cause great variations in price. Of course, the final negotiated price remains to be decided between the seller and buyer before the sale of an aircraft is completed.
Productivity Comparisons
The points in Chart F are centered on the same aircraft. Pricing used in the vertical axis is as published in the Vref Pricing Guide. The productivity index requires further discussion
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Chart F - Productivity Comparison Phenom 100/100E/100EV HondaJet HA-420 $6.0
Price (Millions)
MACRS over a seven-year recovery period, or under ADS using a twelve-year recovery period. Aircraft used for qualified business purposes, such as Part 91 business use flights, are generally depreciated under MACRS over a period of five years or by using ADS with a six-year recovery period. There are certain uses of the aircraft, such as non-business flights, that may have an impact on the allowable deprecia tion deduction available in any given year. The US enacted the 2017 Tax Cuts & Jobs Act into law on December 22, 2017. Under the new Act, taxpayers may be able to deduct up to 100% of the cost of a new or pre-owned aircraft purchased after September 27, 2017 and placed in service before January 1, 2023. This 100% expensing provision is a huge bonus for aircraft owners and operators. After December 31, 2022 the Act decreases the percentage available each year by 20% to depreciate qualified business jets until December 31, 2026. Table D (middle, left) depicts an example of using the MACRS schedule for a 2018 Phenom 100EV in private (Part 91) and charter (Part 135) operations over five- and seven-year periods, assuming a 2018 list price at $4.4m for the Phenom 100EV, per Vref Pricing Guide. Table E (bottom, left) meanwhile, depicts an example of using the MACRS schedule for a 2018 HondaJet HA-420 in private (Part 91) and charter (Part 135) operations over fiveand seven-year periods, assuming a 2018 list price at $5m, per Vref Pricing Guide.
HondaJet
$5.0
Phenom 100EV
$4.0
Phenom 100E
$3.0 Phenom 100
$2.0 $1.0 $0.0 0.0000
0.0500
0.1000
0.1500
0.2000
Index (Speed x Range x Cabin Volume / 1,000,000,000)
in that the factors used can be somewhat arbitrary. Productivity can be defined (and it is here) as the multiple of three factors: 1. Four Passenger Range (nm) with available fuel; 2. The long-range cruise speed flown to achieve that range; 3. The gross cabin volume available for passengers and amenities. Others may choose different parameters, but serious business aircraft buyers are usuall y impressed with price, range, speed and cabin size. The HondaJet demonstrates a higher level of productivity (though it is priced at $600k more than the Phenom 100EV). The Phenom 100 series compared to the HondaJet is generally very well matched. The HondaJet edged out the Phenom 100 series only slightly in terms of cabin volume. However, the Phenom 100 has the lowest cost per mile but higher variable cost per hour. The Phenom 100EV offers a slightly greater range than the HondaJet, which is quicker.
Note: Since introducing its original model, Honda now offers an upgraded HondaJet Elite model. HondaJet operators can retrofit their original models for ~$250k to incorporate small payload and range enhancements among other items. Within the preceding paragraphs we have touched upon several of the attributes that business aircraft operators value. There are other qualities such as airport performance, terminal area performance and time to climb that might factor in a buying decision. Operators should weigh up their mission requirements precisely when picking which option is the best for them. ❙ Mike Chase’s analytical and consultancy services are highly valued within the Business Aviation industry. He is founder and president of Chase & Associates, and works closely with several respected sources to compile his unique Aircraft Comparative Analysis feature. Contact Mike via mike@avbuyer.com
AVBUYER MAGAZINE January 2019
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AVIONICS
How Will NextGen Evolve in Private Aviation? For those who like to visualize aviation technologies operating in a very different airspace, Ken Elliott can provide some clarity. He considers the now-familiar NextGen technologies, and how they’ll develop to meet the demands of a new airspace environment… reviously we considered future aircraft and the possible airspace changes needed to accommodate new and different types of operation. However, neither the aircraft or the airspace changes will be realized without the certainty of a continuously safe and reliable flight for all airspace users. That can only be assured by the introduction of appropriate technology. NextGen technology is a term that’s been used for well over a decade, and applies to both current and future developments. In fact, the technology applicable to near-future air traffic is based on the same core functional requirements that were established before NextGen was introduced. These technologies are grouped under
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Communication, Navigation and Surveillance (CNS), with the more recent Connectivity as the glue between them, other aircraft, air traffic control and the wider world outside. Regulation and economics will dictate the development, pace and introduction of ‘NextGen Next’ technologies. As an example, e-VTOL craft will initially use existing, lightly-used airports before dedicated vertiports are built. e-VTOL propulsion platforms will also begin their life using hybrid propulsion as we await the more difficult to attain, stand-alone electric capacity. Referring to Table A (and introducing new and novel concepts) we can explore some of the technological changes that are in work or about to take place. www.AVBUYER.com
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AVBUYER.com Ken Elliott is a highly respected industry authority on avionics as a member of the NextGen Advisory Council sub-committee, and oversees engineering and mentoring at West Star Aviation. Contact him via kenelliott@wsa.aero or www.weststaraviation.com
Table A: Existing and Current (NextGen) Technology Functions and how They Could Evolve
Figure 1: Future Air Traffic Communication and DataLink COMMUNICATION GEOSPATIAL SERVICES Maps Weather #D Terrain
AIR TRAFFIC CONTROL (ATC) As Airspace Control LEGACY LEG ACY YA AI AIR TRANSPORT TRANSP POR O
UNMANNED TRAFFIC CONTROL (UTM)
ADS-B (Inc Space based) WiFi LTE ATG Satcom Future Technology SERVICE PROVIDERS As Primary Connectivity between Manned/Remote or Autonomous
LEGACY AIR TRANSPORT
UNMANNED AIRCRAFT Enterprise-Industry Light Package Delivery
PUBLIC SERVICE LAW ENFORCE DEFENSE
e-VTOL Passenger Cargo Local Transit
An Integrated Holistic Data Only Communication Network
Communication
Unmanned drones are already implementing partially autonomous communications. These are under the groupings of: • • •
Vehicle to Vehicle (V2V) Vehicle to Air Traffic Control-ATC (V2C) ATC to ATC-Control to Control (C2C)
Traffic management will become more automated, integrating ground infrastructure with all the different airspace users. These modes of communication expand upon and replace voice, hopefully satisfying the need to accommodate thousands of new air vehicles, operating into numerous local ‘airports’. The anticipated high data rates call for a broader bandwidth of connectivity and reveal a deep concern about the capacity of existing networks to handle large numbers of users simultaneously. So, for every step increase in aircraft volume and capability, there needs to be a corresponding increase in air traffic control, satellite and Air To Ground (ATG) capability. One of the limitations associated with current NextGen programs, is that true and effective benefits are only fully realized when all users participate. Just as we must deal with, side by side, legacy and new aircraft equipage now, we will have to deal with the same situation tomorrow. Airspace access will likely become even more www.AVBUYER.com
constrained for those who are not equipped with the latest technology.
Navigation
Aircraft spacing and separation is a navigation, surveillance and (one could argue) communication concern going forward. Here it is all about the capacity of, and the density within, the national and oceanic airspace. The more reliable and consistently accurate the navigation, the more comfortable regulators will be with reducing aircraft separation. For one, Uber hopes to launch transit vehicles every 24 seconds. FAA order JO 7110.65 permits a separation of 1,000 feet vertically and 3-5 nautical miles horizontally. This is insufficient for near future rates of departures and arrivals. Again, advances introduced for lesser regulated small unmanned aircraft can benefit future transit and large unmanned aircraft platforms. For example, popular with small drones is Real Time Kinetic Global Positioning (RTK GPS), using open source technology. Despite its greater accuracy it is not used in larger manned aircraft. These vehicles use Differential GPS (DGPS) as a standard position source that is about 50% less precise than RTK. Future navigation may benefit from a combination of these different GPS technologies, especially where flights are low and local. Performance Based Navigation that is widely in
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AVIONICS Figure 2: NextGen Optimized Navigation as a Precursor to Time Based Operations
use today is conditional upon the precision and performance capability of the system installed, plus the certification of both aircraft and crew to use it. Because future aircraft will be extremely agile and able to maneuver in 3D within small blocks of airspace, it will be essential for navigation systems to continuously track this agility. A current priority of Europe’s SESAR and US NextGen is to develop a 4D Trajectory Based Operations (TBO) airspace, using Time Based Flow Management (TBFM). This will truly benefit the air traffic community. ATC will be able to space and position aircraft at fixed arrival and departure points. An aircraft, using a new 4D Procedure, will need to automatically, and continuously, adjust its altitude, attitude, heading and speed, as instructed digitally by ATC. This will ensure an on-time arrival at each predicated 3D time-based point along its route. Taking the 4D trajectory navigation assumption and blending it with the new drone and e-VTOL agility operations will truly transform future air navigation. Imagine reducing the airspace blocks dramatically to accommodate new local and innercity aircraft operations. Now add the agile functionality of the new aircraft platforms all operating alongside legacy aircraft. It conjures up a fascinating foretaste of a future currently being nurtured by entrepreneurs. While getting there is one thing, being able to take-off and land during inclement weather is another. Combining situational awareness tools that are agnostic to visibility restrictions will alleviate the risks associated with take-off and landing. This, in turn, will ensure consistent and reliable arrival and departure sequencing and spacing. Such capabilities will be satisfied by Combined Vision Systems (CVS) using simulated surroundings and multiple real-time camera sensors to ensure 98 January 2019 AVBUYER MAGAZINE
operator, or even autonomous ‘visibility’ always. Eye tracking wearable HUDs will interface with flight management systems and, in turn, advanced autopilots, allowing ‘pilots’ to make subtle changes to a flight path vector and then ‘flare to land’.
Surveillance
Each and every aircraft and all associated ATC facilities will need to know precisely the current and near future position (intent) of all airborne traffic within a prescribed sector of 4D airspace. All the aircraft must also maintain an ability to detect and avoid other traffic if the proximity or intended flight path is found to be too close. Each aircraft and ATC center must be able to identify all nearby air traffic, and law enforcement should be able to disable (counter) unmanned air traffic that poses a threat. Unmanned air traffic must also have a means to recover and not be a hazard when operating over people. Both ADS-B Out and In are largely surveillance tools and as mentioned, there are already serious concerns regarding ADS-B bandwidth. This is its ability to handle significant volumes of air traffic simultaneously. As traffic below 400ft is likely to be the most numerous, it is a possibility that, down the road, another technology will supplant the requirement for ADS-B, for at least those operators. Note that both users flying through lower airspace and those contained within it will need some form of integration between existing ADS-B surveillance and a similar but new technology that is likely to co-exist. Surveillance includes flight tracking and recording. Space based ADS-B will be a powerful tool for worldwide and consistent tracking. It will also be used significantly with oceanic and transcontinental navigation. www.AVBUYER.com
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AVBUYER.com Figure 3: Space-Based Surveillance
Connectivity
The connectivity piece is what pulls CNS together. It has emerged as a major avionics resource, beyond the cabin, beyond the office in the sky and to continue using your personal devices while airborne. It is now being considered and used for automatic communication between aircraft and for their control, to ensure adequate avoidance. High altitude drones will provide remote area coverage of Wi-Fi. Using higher data rates, these drones will permit wider bandwidth and provide an ability for cloud-based aircraft control. The features of CNS that are currently limited by bandwidth and data rates, will become functional via advanced connectivity. Service providers, with secure management of data, will provide protection from hacking, tampering and improper use. Recently, major providers such as Satcom Direct and ARINC Direct have made extensive inroads into data protection and security. The portfolio of the aircraft service provider will expand dramatically, with all the airspace users relying heavily on efficient connectivity. Our governments also realize the importance of secure connectivity. The US has announced plans for a fifth force to protect defense communications and sensitive resources around connectivity and its functionality. The existing branches of Navy, Marine, Army and Air Force, will soon be joined by a Space Force.
Summary
The development of CNS technology, along with connectivity, propulsion and aerodynamics is moving at an exponential pace towards the creation of an integrated platform where the differences that exist today will become blurred. We are already seeing how each technology group is dependent on the other, where features within one bleed across to others. www.AVBUYER.com
There are two other areas that enable technology integration in ways not yet fully understood. One is cloud-based technology and the other artificial intelligence. Various skunk works are busy working these today. A word we will hear more and more in aviation, is ‘intuitive’. The human factors of ‘pilot to machine’ (pilot being in cockpit, remote or virtual) will become more important. In turn these subtle but crucial advancements in automation will enable the need for less maneuverable real estate (airspace) and a reduction in the steps necessary to accomplish the task required, to fly within it. Operating as different versions, our future aircraft will function intuitively, performing with a 4D agility, beyond the traditional airspace sectors. They will operate within very small spaces, including inside structures, underwater, in the wider stratosphere and the space beyond. These arthropod-like vehicles will perform enterprise/industry tasks, transport people, small packages and cargo, operate in defense and public service roles and provide for new forms of recreational activity. So, the next time you sit on the porch and watch the butterflies, bees, dragonflies, birds and other flying creatures, ponder on the fact that they are forerunners of our future methods of propulsion and autonomy. Nature has already figured out the aerodynamics, energy source, propulsion and autonomy, having since moved on to other places. Is our role to replicate, in quick-time, what has taken nature time to evolve, allowing our intelligent planet to become more ‘wired’, and then commence outreach to other worlds? Only time will tell. Meanwhile e-VTOL’s earliest introduction is forecast for 2023 and ‘autonomy above 400ft’ well after that, we have plenty of time to ponder on the greater implications of our aviation journey. ❙ AVBUYER MAGAZINE January 2019
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Jeteffect 6 aircraft January.qxp 18/12/2018 10:50 Page 1
Falcon 50EX â&#x20AC;¢ S/N 313
Gulfstream G500 â&#x20AC;¢ S/N 5100
Challenger 605 â&#x20AC;¢ S/N 5891
Gulfstream G200 â&#x20AC;¢ S/N 156
Gulfstream G200 â&#x20AC;¢ S/N 028
Learjet 45XR â&#x20AC;¢ S/N 385
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Learjet 45 â&#x20AC;¢ S/N 079
Learjet 40XR â&#x20AC;¢ S/N 2101
Learjet 40XR â&#x20AC;¢ S/N 2090
Citation X â&#x20AC;¢ S/N 750-0121
Citation Sovereign+ â&#x20AC;¢ S/N 680-0528
Citation Excel â&#x20AC;¢ S/N 560-5158
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Avionics MP.qxp_Finance 17/12/2018 16:54 Page 1
AVIONICS
How are Flight Decks Developed for Pilots? Ergonomics need to account for safety, comfort and human factors with everything from screens and buttons to seats being carefully designed. Mario Pierobon spoke to some aircraft equipment manufacturers about the latest thinking in the industry. 102 January 2019 AVBUYER MAGAZINE
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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
engineer at Collins Aerospace, says, “Collins Aerospace continuously evaluates new and improved technologies and performs user experience studies to identify areas for improvement in terms of crew workload, situational awareness, and ease of use. “For example, we have introduced touch screen technology in cockpits where the pilots can comfortably reach the forward displays, while keeping an appropriate balance of physical knobs and buttons for required functions. From an ergonomics perspective, our flight decks are designed to be flown from either left or right seat positions with duplication of control panels and displays to avoid the need to reach cross-cockpit.”
Minimising Inadvertent Activation
ver the years a solid tradition has developed in aircraft manufacturing whereby human factors are taken into consideration in aircraft design. Clearly human discomfort has a negative impact on human performance and this can be to the detriment of safety. Flight deck ergonomics is increasingly being taken into account by aircraft and avionics manufacturers whether for commercial or business aircraft.
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Optimizing Comfort
According to Garmin, “Avionics designers and aircraft manufacturers have human factors teams that evaluate comfort and crew fatigue, especially for long flights. Workload studies are performed and designs are improved, based on the findings”. Brad Thompson, avionics principal systems www.AVBUYER.com
Human factors teams evaluate controls and switches as part of flight deck design including the potential for inadvertent activation, the impact of inadvertent activation, and the workload of recovering from this. “Mitigations include guarded switches; careful location of controls; size and shape of controls; and clear labeling, including back-lighting at night,” Garmin explains. “As touch screens move into the flight deck additional considerations include touchscreen technology used, touch control size, touch control validity algorithms to reject inadvertent activations, and confirmation pop-ups for critical functions.” “Collins Aerospace provides a variety of user interface devices and control panels,” Thompson adds. “On control panels with physical pushbuttons, guarded switches are used to prevent inadvertent activation of critical functions, such as an emergency descent mode activation. “In terms of navigation, any change to the flight management system that could change the flight path of the aircraft requires a confirmation step using a dedicated ‘execute’ control.”
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AVIONICS
AVBUYER.com Noise Reduction
Noise is also being reduced in modern flight decks so as not to cause hearing loss or physical stress to the crew. “As much as possible, our products in the flight deck are designed to be passively cooled so that noise producing fans are not necessary,” elaborates Thompson. “Garmin assists aircraft manufacturers in reducing overall cockpit noise by reducing power consumption, which reduces heat generation, which reduces or eliminates the need for noisy cooling fans,” confirmed a company spokesman. “Power supplies are also designed to eliminate high frequency noise that older generation electronics could produce. Garmin’s solid-state avionics also have eliminated the need for spinning mass gyros that generate significant noise. And aircraft manufacturers continue to strive to reduce noise in their aircraft in other ways as well.”
Reducing Vibration
Vibration is also an issue that causes discomfort for flight crew, so means for reducing it are being addressed in modern flight decks. “In order to be compliant with industry environmental standards, our products must be designed and tested to specific vibration tolerances,” Thompson explains. “We perform vibration testing on all our products, including our flight deck displays and control panels. In evaluating new human-machine interfaces, such as touch screens, we have added raised bezels to the edge of the displays in order to provide a
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hand-hold for stabilization in turbulence or other abnormal vibration scenarios.” “Vibration characteristics are primarily up to the aircraft manufacturer,” notes Garmin. “Garmin qualifies avionics to vibration level standards which can vary, depending on the location in the aircraft to ensure proper operation and use of the equipment.”
Seat Design
There is, of course, a multitude of human factors to consider in designing seats aboard aircraft, as Collins Aerospace reveals. “The size of the fight crew is one fundamental consideration; we design to accommodate a wide range of crew from the 99% male (6 foot 3 inches) to a 5% female (5 foot 2 inches),” a company spokesperson offers. “In addition to size accommodation, there are many other ergonomic factors that must be considered – that is why our products offer a multitude of adjustments: backrest angle adjustment, seat-pan angle adjustment, lumbar adjustment, headrest adjustment, and armrest height and tilt adjustment. “Since flight times are getting longer, cushion pressure point reduction is another important factor. Collins Aerospace uses both computerized comfort analysis and feedback from decades of fielded products to design cushions that reduce these pressure points while still meeting safety requirements,” they conclude. More information from www.garmin.com or www.collinsaerospace.com ❙
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Conklin & de Decker January.qxp_Layout 1 19/12/2018 09:37 Page 1
A New Conklin & de Decker is Here Evaluate / Plan / Maintain
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COMMUNITY
OEM Bites
Introducing the Longest-Range BizJet Yet
Airbus Corporate Jets’ first ACJ320neo made a successful first flight in November. Derived from the A320neo airliner family, the corporate jet version includes features such as extra fuel-tanks in the cargo-hold that will deliver even more intercontinental range, plus greater cabin-pressure for better passenger comfort. www.airbus.com
Boeing Business Jets is launching the BBJ 777X, a new business jet model that can fly more than half way around the world without stopping – farther than any business jet built previously…
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ccording to Greg Laxton, head of Boeing Business Jets, “Our most exclusive customers want to travel with the best space and comfort and fly directly to their destination. The new BBJ 777X will be able to do this like no other airplane before it, redefining ultra-longrange VIP travel.” Customers can choose between two models: the BBJ 777-8 and BBJ 777-9. The BBJ 777-8 offers the longest range of 11,645nm and a spacious 3,256 sq. ft.
cabin, whereas the BBJ 777-9 provides a larger cabin measuring 3,689 sq. ft., and a range of 11,000nm. To demonstrate the versatility of the airplane’s spacious cabin, BBJ unveiled interior concepts from three leading design firms: Greenpoint Technologies, Jet Aviation and Unique Aircraft Design. Each concept shows how the BBJ 777X can be transformed to suit the tastes of any VIP customer. More information from www.boeing.com/bbj
Bombardier anticipates deliveries of its business jets will increase by 10% or more in 2019, to somewhere between 150 to 155 units, bringing in an estimated $6.25bn in revenues. The 2019 deliveries estimate is up from the 2018 estimate of ~135 business aircraft and will bring Bombardier closer to its stated objective for the Business Aircraft unit to bring in >$8.5bn by 2020. Bombardier also delivered the first of its new Global 7500 business jets. Bombardier expects to deliver between 15 to 20 of the model in 2019 and then double production in 2020. www.businessaircraft.bombardier.com
Gulfstream announced its G650ER completed a record-breaking flight reaching Dubai from Teterboro (6,142nm) in just 11 hours and two minutes, beating the previous world speed record by one hour and 48 minutes. www.gulfstream.com
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OEM Bites
Piaggio, manufacturer of the Avanti, has declared itself insolvent, asking to go into receivership. The firm had faced a tough sales environment for its turboprop range recently. Reports in the Italian press suggest the company has debts totaling $497m. Leonardo CEO Alessandro Profumo has not ruled out taking a stake in the firm. www.piaggioaerospace.it
Pilatus handed over the first PC-24 air ambulance to the Royal Flying Doctor Service of Australia (RFDS Western Operations). Configured for patient transport, this PC-24 was especially developed to meet the particular needs of the RFDS and has been equipped for medevac missions all over Australia. The innovative aeromedical interior is the first of its kind in the world. www.pilatus-aircraft.com
Honda announced that the HondaJet Elite has received type certification from the Japan Civil Aviation Bureau (JCAB). The company says that obtaining type certification from JCAB demonstrates that the HondaJet Elite complies with all of the exacting standards set by the organization including those for strength, performance, safety, function and reliability. www.hondajet.com www.AVBUYER.com
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Lockheed Starts Work on the X-59 QSA Lockheed Martin began milling the first part for its X-59 Quiet Supersonic Technology test aircraft at its facility in Palmdale, California, after being selected early last year by NASA to design, build and flight test a Low Boom Flight Demonstrator. lans are for Lockheed to have the X-59 make its first flight in 2021. Tests will be used to collect response data from residents on the ground on the acceptability of the quieter sonic boom generated by the aircraft. Lockheed would then use that information to help NASA establish an acceptable commercial supersonic noise standard to overturn current regulations banning supersonic travel over land. The X-59 is designed to cruise at 55,000ft at a speed of Mach 1.23, and the company aims to almost eliminate the
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aircraftâ&#x20AC;&#x2122;s sonic boom, creating a sound about as loud as a car door closing. Supersonic flights over the US are currently banned by law due to the disturbances caused by sonic booms. Lockheed Martin and NASA are among others pursuing supersonic commercial aviation. Start-ups Aerion, Boom Technology and Spike Aerospace are also designing aircraft. Boeing, meanwhile, unveiled its Hypersonic Vision passenger airliner concept in June. More information from www.lockheedmartin.com
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COMMUNITY
AVBUYER.com Mark Burns, president, Gulfstream Aerospace Corp. is among the 2018 recipients of the National Aeronautic Association’s Wesley L. McDonald Distinguished Statesman of Aviation Award.
Mark Burns
Dan Dunn has been promoted to executive vice president transactions at the Mente Group. He was previously vice president, transactions. Matthieu Guisolphe is the new rotary program sales manager for Hong Kong Business Aviation consulting firm Asian Sky Group (ASG).
Dan Dunn
Brian Hammer has been named vice president of transactions at the Mente Group, a leading global business aircraft brokerage and consulting company. Nelson Leal has been promoted by CRS Jet Spares to the position of director of sales and operations.
Brian Hammer
Katharina List-Nagl of F/LIST has been named Austria‘s Entrepreneur
of the Year by Ernst & Young in the industry & high tech category. Stuart Locke is the new general manager for maintenance at Oriens Aviation. Locke joins from TAG Aviation Farnborough. Lee McCammon has been appointed to the role of Air Medical Specialist for Kopter North America.
Jason Rance
Jason Rance has been hired by leading global aerospace and defence supply chain provider Pattonair as its first innovation director. Kevin Wilkerson has joined EPIC Fuels’ leadership team as its new vice president of transaction processing.
Kevin Wilkerson
Ed Young has been named executive director for the Aerospace Center for Excellence (ACE) on the SUN ‘n FUN campus at Lakeland-Linder Regional Airport (KLAL). Carrie Yu was appointed as a new sales director on behalf of Asian Sky Group.
Ed Young
BizAv Events 2019 Principles of Aircraft Valuations and Appraisals - Jan 11 2019 Daytona Beach, FL, USA www. aeropodium.com
NBAA: Regional Forum Feb 6 2019 Palm Beach, FL, USA www.nbaa.org
NAFA: Conference Mar 3 – 6 2019 Fort Lauderdale, FL,USA www.nafa.aero
NBAA: Regional Forum Mar 14 Houston, TX, USA www.nbaa.org
ADS-B: NextGen Avionics Jan 18 2019 Fort Lauderdale, FL, USA www. aeropodium.com
NBAA: Leadership Conference Feb 12 - 14 2019 Austin, TX, USA www.nbaa.org
HAI: Heli-Expo Mar 4 – 7 2019 Atlanta, GA, USA www.heliexpo.rotor.org
NBAA: Business A/C Finance & Legal Conf. Mar 17 - 19 Fort Myers, FL, USA www.nbaa.org
Corporate Jet Investor London Jan 28 – 29 2019 London, UK www.corporatejetinvestor.com
NBAA: Int’l Operators Conference Feb 25 – 28 2019 San Francisco, CA, USA www.nbaa.org
BBGA Annual Conference Mar 7 2019 Luton, Beds, UK www.bbga.aero
NBAA: Schedulers & Dispatchers Jan 29 - Feb 1 2019 San Antonio, TX, USA www. nbaa.org
Australian Int’l Airshow Mar 1 - 3 2019 Geelong, Australia www.airshow.com.au
Saudi Airshow Mar 12 – 14 Riyadh, Saudi Arabia www.saudiairshow.aero
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AEA: Int’l Convention & Trade Show Mar 25 - 28 Palm Springs, CA, USA www.aea.net T
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Products & Services January.qxp_Layout 1 20/12/2018 09:53 Page 1
PRODUCTS & SERVICES Aero-Dienst Wins Again
Aero-Dienst was once again presented with the ‘Bombardier Business Aircraft Authorized Service Facility (ASF) Excellence Award’ as the best service facility in the ‘Europe’ category. For the fourth time running, and for the fifth time altogether, the Nuremberg specialist for maintenance, operation, sales and management of business aircraft received this distinction for its excellent record in providing Bombardier customers with first-class quality, performance and service www.aero-dienst.de
Airbus Helicopters Expands in Japan
Airbus Helicopters will be adding a maintenance, repair and overhaul (MRO) complex adjacent to its existing facility in the Kobe Airport Facility in Japan. Construction will commence in June 2019, with the new facility expected to be operational in November this year.2019. The company’s existing facility is capable of accommodating up to 25 medium-sized helicopters simultaneously. It also houses its regional engineering hub and the country’s first and only helicopter full motion full-flight simulator, which has trained over 500 pilots and engineers in Japan and across the region www.airbus.com/helicopters
AVIAÂ Partners with Jetex
AVIAÂ, the international group purchasing organisation (GPO) for business aviation is expanding its presence in the Middle East with the signing of a new preferred supplier partnership with Jetex, the leading international ground handling specialist in the region. AVIAÂ Business Development Director Matt Smith signed the partner agreement with Adel Mardini, CEO and President of Jetex flight support www.aviaa.com - www.jetex.com
Bombardier Expands Customer Support
Bombardier recently announced the latest addition to its expanding Services and Support network, a line maintenance station (LMS) located at Le Bourget Airport near Paris, France. The new facility is the seventh line maintenance station to be opened in the past 18 months, further strengthening Bombardier’s OEM support services offering for its growing European customer base www.AVBUYER.com
www.usinessaircraft.bombardier.com
CAE Acquires Bombardier Aircraft Training
CAE has agreed to acquire Bombardier’s Business Aircraft Training (BAT) business for an enterprise value of US$645 million, expanding its ability to address the training market for customers operating Bombardier business jets, which at more than 4,800 aircraft, is one of the largest and most valuable in-service fleets of business aircraft in the world www.cae.com
DC Aviation FBO of the Year
DC Aviation Al-Futtaim (DCAF) was awarded Fixed Base Operator (FBO) of the Year 2018 at the Transport and Logistics Middle East Excellence Awards 2018, held recently in Dubai. Holger Ostheimer, Managing Director, DC Aviation Al-Futtaim said, “At DCAF, we always put the customer front and centre of everything we do. DCAF’s core areas of business include Aircraft Management, Maintenance, FBO and Ground handling services as well as Business jet charter www.dc-aviation.ae
Duncan Aviation G5000 Flight Deck Upgrade
Duncan Aviation is pleased to say that so far, they have three Citation Excel and Citation XLS operators who have committed to the Garmin G5000 Flight Deck Upgrade. Supplemental Type Certification for the G5000 avionics suite is underway at Garmin International in Olathe, Kansas, with certification targeted for early this year. “With the support of valuable MRO partners like Duncan Aviation, the order backlog for the G5000 flight deck upgrade for the Citation Excel and XLS continues to grow,” says Carl Wolf, Garmin’s Vice President of Aviation Sales and Marketing www.duncanaviation.aero AVBUYER MAGAZINE January 2019
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Products & Services January.qxp_Layout 1 20/12/2018 09:53 Page 2
PRODUCTS & SERVICES Elit'Avia Expands in Asia
Slovenian business aircraft management company Elit’Avia is expanding its presence in Asia to meet growing demand in the region for high-end business jets. The company, headquartered in Ljubljana, manages a fleet of 23 midsize, large-cabin and long-range jets including Dassault Falcon 7Xs, Gulfstream G550, G650s and Bombardier Global 6000/XRSs – for mainly European and Russian owners www.elitavia.com
Jetex Gets HondaJet Dealership
Jetex is now the exclusive authorized dealer for HondaJet across the Gulf and Middle East region. “With Honda’s brand strength and recognition in the Middle East, we have received tremendous interest in the HondaJet Elite. We are proud to appoint Jetex as HondaJet Middle East to provide our customers with a committed sales team in the region for the world’s most advanced very light jet.” said Honda Aircraft President and CEO Michimasa Fujino. “We are equally proud to be chosen by Honda, and excited to be awarded the role of dealer,” said Adel Mardini, CEO and President of Jetex www.jetex.com
Flightdocs & Asset Insight MOU
Flightdocs, the leading provider of cloudbased aircraft maintenance tracking, compliance, inventory, and flight operations management services, has entered into a memorandum of understanding (MOU) with Asset Insight to pair the Flightdocs Enterprise solution with eValues, a powerful web-based system that allows users to obtain aircraft value and marketability in real-time. With current market value, estimated residual value, comparisons to similar assets, and the ability to predict future maintenance expense at clients’ fingertips on a daily basi www.flightdocs.com www.assetinsight.com
Flying Colours Boosts Interiors Capabilities
Flightdocs, the leading provider of cloud-based aircraft maintenance tracking, compliance, inventory, and flight operations management services, has entered into a memorandum of understanding (MOU) with Asset Insight to pair the Flightdocs Enterprise solution 110 January 2019 AVBUYER MAGAZINE
with eValues, a powerful web-based system that allows users to obtain aircraft value and marketability in real-time. With current market value, estimated residual value, comparisons to similar assets, and the ability to predict future maintenance expense at clients’ fingertips on a daily basis www.flyingcolourscorp.com
Gogo AVANCE L5 on Gulfstream Models
Quality inflight connectivity has become one of the most important features for passengers traveling on a business jet today. Gogo Business Aviation’s AVANCE L5 system is delivers a 4G experience to hundreds of business jets, including a full complement of Gulfstream aircraft models. The Supplemental Type Certificates (STCs) secured include the following Gulfstream airframes: G650/650ER- G600- G550/GV/SPG450/GIV/SP- G280. AVANCE L5 is flying on nearly 500 aircraft today providing a 4G in-cabin connectivity experience that is proven and dependable www.business.gogoair.com
Greenpoint Delivers Second V-VIP 787-8
Greenpoint Technologies recently delivered the world’s second V-VIP 787-8 interior completion to a confidential customer. Greenpoint partnered with the client to create a sophisticated executive cabin. The interior caters to various passenger needs, with open living space and distinct, private rooms. The grand master suite includes its own lounge and office featuring refined material finishes, including Calacatta Borghini marble, book-matched American walnut, and boucle handtufted carpet. The main lounge showcases a metallic glass tile wall, which is the first of its kind to be certified on a 787, and embossed hand-tipped leather seats. The interior also includes a gym with vaulted ceilings, extensive crew accommodations and large service galleys www.greenpoint.com
Hartzell Prop for Eviation’s Electric Commuter
Eviation Aircraft, a global manufacturer of allelectric air mobility solutions, has selected Hartzell Propeller as a development partner for Eviation’s debut aircraft, the all-electric Alice. With zero-emissions and 100% battery-electric solution, the Alice Aircraft will be test flown at the Paris Air Show in June this year. Under the terms of the development partnership, Hartzell Propeller will provide customized and optimized propellers and support systems www.hartzellprop.com www.AVBUYER.com
Avbuyer ad.qxp_Layout 1 20/12/2018 10:08 Page 1
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Aircraft January Index see Page 111 145 AVBUYER MAGAZINE 2019
Donath Aircraft Services January.qxp_Empyrean 18/12/2018 13:04 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
112 January 2019 AVBUYER MAGAZINE
Tel: +1 (773) 935.9871 Email: jimdonath@donathaircraft.com www.donathaircraft.com
www.AVBUYER.com
Jet HQ January.qxp_Empyrean 18/12/2018 14:16 Page 1
S H O W C A S E
2009 Cessna Citation Sovereign Serial Number: Registration: Airframe TT: Landings:
680-0272 TC-RED 2,430 1,746
Nine Passenger Configuration Always Hangared EASA Certified No Damage History Airframe Base: Turkey Maintenance Tracking: CESCOM Engines Pratt & Whitney PW306C Left engine Right engine THSN: 2,430 2,430 TCSN: 1,746 1,746 APU Honeywell RE100 (CS) Total Hours: 1,587 Total Cycles: 2,212 Avionics VHF: Dual Honeywell VHF MRC 855 with 8.33 spacing NAVS: Dual Honeywell NAV MRC 855 with FM Immunity HF: Honeywell HF-1050 with Coltech CSD-714 SELCAL FMS: Honeywell Primus Epic AP: Honeywell Primus Epic GP 400 XPNDR: Dual Honeywell MRC 857A Mode S with elementary surveillance ADF: Honeywell Primus Epic DF 855
DME: Dual Honeywell DM 855 ADC: Dual Honeywell AZ-200 GPS: Dual Honeywell MC-850 with integrated GPS Receivers EFIS: Four Honeywell Epic DU-1080 Liquid Crystal MFDs RADAR: Honeywell 880 four color with Turbulence Detection RAD ALT: Honeywell AA-300 TCAS: Honeywell ACSS TCAS 2000 with Change 7.1 TAWS: Honeywell Primus Epic Enhanced Class A (EGPWS) ELT: 406 MHz Three Frequency ELT FDR: L3 Technologies FA2100 Flight Data Recorder Additional Equipment 220 VAC Outlets – 4 Cabin / 2 Flight Deck / 1 Vanity CVR L3 Communications FA 2100 Flight Phone - Aircell ST-3100 with 3 Handsets Honeywell Electronic Chart Pulse Light System with TCAS Interface Dual Ni-Cad Batteries Interior Passengers: 9 Cabin Configuration: Single seat facing the entryway followed by two 4-place clubs in the main cabin Galley Location: Forward Lav Location: Aft Exterior White with blue accent stripes
Jet HQ Rebecca Johnson Vice President of Sales - Europe Zug, Switzerland www.AVBUYER.com
Mob: +41 78 924 1420 Email: info@jethq.com
AVBUYER MAGAZINE January 2019
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European Aircraft Sales January.qxp_Heeren Cit Ultra sep 18/12/2018 15:12 Page 1
S H O W C A S E
2009 Airbus EC-135 T2 Helicopter Serial Number: Registration: Airframe TT: Landings:
0835 OY-HJR 2616:15 7628
This EC135 is prepared for offshore hoist operations, operated in Denmark under EASA AOC. It is equipped for dual pilot IFR operations. 100% Safran PBH Engine programme and Airbus parts by the hour on airframe and avionics. (can be bought out at additional cost). The helicopter will be delivered with standard landing gear, 5 commercial passenger seats in grey fabric. The EC135 is a light twin-engine, multi-purpose helicopter of the 2-3 ton class with up to 8 seats for pilot/s and passengers. Due to its extreme simplicity, the rotor system contributes to highest safety standards and, at the same time, reduces maintenance to a minimum. The first scheduled maintenance is the intermediate inspection after 400 Flh. Available ultimo December 2018. Engines ENGINE 1 2616:15 Hrs ENGINE 2 2545:35 Hrs Airframe RANGE 635 km CRUISE SPEED 254 km/h MTOW 2950 kg (SB EC-135-62-028 MTOW increase) SEATS 2 CREW+ 5 PAX
Avionics / Radio DUAL Pilot IFR ATC Transponder (ADSB) : Garmin GTX 330 VHF, AM, NAV GPS : Garmin GNS 430 AW Autopilot : APM 2000 SMD 45 H-NVG (2 ea) SMD 68 Radar Altimeter: KRA 405B DME : CMD-451 Marker: KR21 Standby Horizon: AI804 DC Euro NAV AHRS Tactical Radio: VHF-FM NPX138 Dual controls Interior 5 passenger commercial seating configuration. passenger seats are in grey fabric Exerior Overall red with white trim stripes on tail Equipment installed ADELT : TECH TEST 15-503-134 DUAL CONTROLS FIRST AID KIT Additional options offered POWER BY THE HOUR: EUR 540,000 HOIST: EUR 127.000 CARGO HOOK: EUR ? FLOATS: LIFE RAFT:
European Aircraft Sales Lufthavnvej 151 - DK-5270 Odense N Denmark
114 January 2019 AVBUYER MAGAZINE
Price: EUR 2,750,000 ex. VAT
Tel: +45 4016 5401, +45 2043 5287 +44 7771900198 Email: sales@europeanaircraftsales.com www.europeanaircraftsales.com www.AVBUYER.com
Mesotis December.qxp 18/12/2018 14:23 Page 1
S H O W C A S E
1984 Cessna Citation SII Sierra Conversion Serial Number: Registration: Airframe TT: Landings:
550-0011 T7-IGO 1468 685
• Engines on TAP Elite • Only Super S-II with Glass cockpit • Williams Engines • Sierra Industries Pedestal Extension • Unique Glass cockpit technology with text messaging. E-mails, paperless cockpit and iPad wireless access • ADS-B out
Engines Description
LEFT ENGINE RIGHT ENGINE Williams FJ44-3A Williams FJ44-3A
Avionics & Connectivity 3 tube EFIS and 2 x Garmin touch screen MFDs • Universal Avionics EFI-890R EFIS System and Vision 1 Synthetic Vision System • Dual Thommen AC-32 Air Data Computer systems • RVSM approved • Bendix GKP-860 EGPWS • 406 Mhz ELT • 2 Garmin GTX3000 transponders featuring ADS-B out • Dual Garmin GTN-750 GPS/COMM/NAV systems with dual GA-35 GPS antennas • GMA-35 Audio Panel System • GDL-69 SiriusXM weather data link
Interior & Entertainment ENTRANCE AREA • RH side facing double seat • LH Storage Cabinet FORWARD CABIN • RH side (zone 1A): One (1) pull–out table and One (1), aft-facing single executive seat • LH side (zone 1B): One (1) pull-out table and One (1), aft-facing single executive seat MID CABIN • RH side (zone 2A): One (1), forward-facing single executive seat • LH side (zone 2B): One (1), forward-facing single executive seat AFT CABIN • RH side (Zone 3A): One (1), forward-facing single executive seat • LH side (Zone 3B): One (1), forward-facing single executive seat
Pricing: Make offer!
2007 Cessna Citation CJ1+ Serial Number: Registration: Airframe TT: Landings:
0659 LZ-FNA 2.459 1.772
• EU-OPS 1 Compliant • Engines 100% ON JSSI • Airframe on Pro Parts • On CAMP • Low hours • No damage history / No corrosion
Extraordinary Cabin Design 6 passenger cabin: 4 place club configuration in the center, forward RH side-facing seat & a belted lavatory seat. • Interior in light gray • Comfortable clothesholder in the rear • Indirect LED lighting • Leather flushing & belted toilet in the rear Avionics • Collins Proline 21 Integrated Flight Director and Autopilot with 3-tube 8x10” EFIS • Dual Collins RTU-4200 Series Radio Tuning Units with Dual Comm, Dual Nav, DME, ADF, and Dual TDR-94D Mode S Transponders with Enhanced Surveillance • Collins FMS-3000 w/GPS, Garmin GPS 500, Honeywell Mark VIII EGPWS, L3 Comm WX-1000E Lightning Detection, Collins RTA-800 Weather Radar, Safe Flight AOA, L3 Comm CVR, Artex C406-2 Three Freq. ELT
Mesotis Jets Thomas Thums Fleischmarkt 7/3 1010 Vienna Austria
www.AVBUYER.com
Equipment RVSM Capable, AirStair, Jeppesen Electronic Charts Additional Equipment • Steep approach approved • Cockpit Voice Recorder • Electronic Charts • Elephant Color CKP/CB DR TRIMS • Locking Fuel Caps • Pulse lights (2400) precise flight • Voice Annunciator • TDR-94D Dual Mode-S Diversity XPNDR W/ELEM Surveilance-Colln • Single AFD-Collins • Ground COMM Dispatch switch • FMS 2 Garmin GPS-500 • EGPWS MARK VIII Honeywell • Door Step in Bravo/Encore style • Polished Windshield • Mobil Jet II
Mob: +43-67-6590-0082 Tel: +43-1-533-757216 E-mail: tthums@mesotisjets.com www.mesotisjets.com
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CAN February.qxp_Layout 1 18/12/2018 15:40 Page 1
P117-119.qxp 18/12/2018 15:02 Page 1
Bombardier Challenger 350
Milcham Aviation Price:
$3,990,000
Year:
2019
S/N:
207XX
Reg:
TBD
TTAF:
00
Location: USA
Embraer Phenom 300
46.000,00 PER MONTH, 125 HOURS FLIGHT ON BOARD INCLUDED (crew, expenses, fuel, taxes, catering, maintenance, landigs fees ect....) DEPRECIATION 4% PER YEAR. POSITIONNING 2 HOURS FREE AROUND HOME BASE FLEET RENEVAL EVERY 4 YEARS. NO ADDITIONNAL CHARGE TRADES CONSIDERED. CONTACT US FOR MORE INFORMATIONS
Tel: +33 (0) 679 852 350 E-mail: francois@hersen-rc.fr
Francois HERSEN Price:
Please Call
Year:
2015
S/N:
50500274
Reg:
F-HPJL
TTAF:
900
Location: France
Gulfstream IV
M A R K E Tel: +1 (305) 452 62610 T E-mail: sales@milcham.lu P L BRAND NEW BOMBARDIER CHALLENGER 350 DELIVERY MIDDLE A 2019. FRACTIONNAL OWNERSHIP 1/6. FULL OPERATION C INCLUDED. UNDER PUBLIC TRANSPORTATION COMPANY. E ANNUAL OPERATION FEES 550.000,00 USD PER YEAR OR
Joseph Sabin Price:
Make Offer
Year:
1989
S/N:
1092
Reg:
N13SA
TTAF:
7036.8
ENGINE(S): PW535E. Maintenance Program: Pratt & Whitney - ESP Gold. EQUIPPED WITH: Engine Maintenance Program ADS-B STANDARD EQUIPMENT: RVSM. Flight Data Recorder. Emergency Locator Transmitter Cockpit Voice Recorder. 8.33 channel spacing Terrain Awareness & Warning System Traffic Collision Avoidance System. Single-Point Refuelling ADDITIONAL EQUIPMENT: Cockpit: ADS-B Out
For immediate sale
Tel: +1 (607) 846-5569 E-mail: prepusa@hotmail.com Very nice, low time Gulfstream IV available for immediate sale.
Location: USA
Bombardier Challenger 604
Greg Petersen Price:
Please Call
Year:
2007
S/N:
5660
Reg:
N843CC
TTAF:
4,229.6
Location: USA
Bell 412 EP
Wesley Stone Price:
$1,875,000
Year:
2004
S/N:
36329
Reg:
N8346A
TTAF:
3,195
Location: USA
www.AVBUYER.com
Tel: +1 (415) 328 2624 E-mail: gpetersen@solairus.aero One of the very last CL604s produced, this aircraft has low time, is well equipped and has an excellent pedigree. Engines are on GE OnPoint and the newly upgraded APU is on MSP. Aircraft recently delivered to a new owner after a very thorough Bombardier PrePurchase Inspection, and we would be happy to provide our inspection summary to any prospective purchaser. Engine details: • GE Engine Model: CF34-3B • Enrolled on GE OnPoint. Exterior: Partial repainting in December, 2014 by Bombardier in Tucson, Arizona. Avionics: • Collins ProLine 4 Avionics Suite • Dual Collins VHF Comms with 8 KHz Spacing • Dual Collins VOR/ILS/MKR NAV Receivers • Dual Collins DME Transceivers
Tel: +1 (916) 214-0513 E-mail: wesley@trucksite.com 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
AVBUYER MAGAZINE R January 2019 R
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M A R K E T P L A C E
Bell 427
Vratislav Elias Price:
$1,280,000
Year:
2001
S/N:
56024
Reg:
OK-TCH
TTAF:
2922
Tel: +420 601 167 983 E-mail: vratislav.elias@asr.agel.cz Reliable helicopter certified as Single Pilot, VFR Day and Night in CAT A / 1st Performance Class. Two Turboshaft Engines PW 207D (S/N PCE-BF0055 and S/N PCE-BF0056). MTOW 2971 kg (6550 lbs). Search Light SX-5. Cargo Hook. COM/NAV/GPS Garmin 430 and 530, Area Navigation Garmin 795, S Mode Transponder, Radio-altimeter, BOSE A20 Headsets, Dual controls
Location: Czech Republic
Airbus/Eurocopter EC 130B4
Tel: +31 (0) 653 366 964 E-mail: peter@vanzutphen.nl
Peter Van Zutphen Price:
€1,295,000 Excl. VAT
Year:
2005
S/N:
3935
Reg:
OO-SUZ
TTAF:
1725
Paint and interior 9/10 12 years inspection just done in 2018
Location: Netherlands
Bell 212
Jayrow Helicopters Price:
Please Call
Year:
1978
S/N:
30900
Reg:
VH-JJY
TTAF:
11,437
Location: Australia
Airbus H125
Amaury Di Placido
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: +32 (0) 496 064 858 E-mail: Amaurydiplacido@gmail.com
Price:
€2,000,000 Excl. VAT 2014 H125 B3E IN MINT CONDITION
Year:
2014
S/N:
7800
Reg:
OO-STR
TTAF:
800
Location: Belgium
Beech Baron G58
Tel: +61 407 671 672 Email: grahame.casey@jayrow.com.au
Augsburg Air Service
TTAF: 800 hours Air conditioning Stylence interior Auxiliary tank/range extender (Dart) in LH side cargo Dual controls Bentley grey with brown interior Taxi light adjustable in site and azimuth LED kit for landing light, position light and strobe light 6 Bose ANR headsets
Tel: +49 171 210 20 37 E-mail: sales@aas-augsburg.de
Price: Year:
2009
S/N:
EU-Reg, Garmin 1000, GFC-700 Autopilot, 2x Garmin GIA 63W (8.33 kHz), GWX68 WXR, GTX33 Mode-S XPDR, Stormscope WX500, maintained by AAS Augsburg - good condition!
Reg: TTAF:
1,630
Location: Germany
118 January 2019 AVBUYER MAGAZINE
www.AVBUYER.com
P117-119.qxp 18/12/2018 15:03 Page 3
Leonard
Bombardier Learjet 36A
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
Competitively priced at US $1,375,000, may take trade on a King Air or a helicopter
Location: USA
Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com
Leonard Hudson Drilling
BELL 412EMS
Price:
Offer
Year:
1981
S/N:
33017
Reg:
N554AL
TTAF:
15265
Full EMS Medical 4 patient and 4 attendant interior. Recent ‘no expense spared’ airframe refurbishment at Acro Helipro within the last 100 hours. Both engines are fresh Pratt and Whitney overhauled. Immediate delivery, Meticulous records. Current with medical interior and 13 passenger utility interior are included, aircraft is ‘turn-key’ will provide Fresh annual /Export C of A
Location: USA
Tel: +1 (806) 662 5823 Email: ronfernuik@hotmail.com
Leonard Hudson Drilling
BELL 212 (Five Available)
Price:
Please Call
Year:
1991-1996
S/N:
Call for details
Reg:
Call for details
TTAF:
Call for details
Five, Late Model, Bell 212s In 'Off Shore’. Available for immediate use. Asking $3.1M to $3.6M USD. Serial numbers: 35034, 35048, 35060, 35088 and 35096
Location: USA
Airbus/Eurocopter AS 350B-3
Price:
€1,750,000 Excl. VAT AS350 B3+ double FADEC, Auto Pilot, Air conditionning, GTX
Year:
2008
S/N:
4565
Reg:
OO-AMP
TTAF:
825
Location: Belgium
Alberth Air Parts
Tel: +33 (0) 614 900 456 E-mail: gregsartorius@gmail.com
Gregory SARTORIUS
+1 832 934 0055
Spare Parts
330 transponder, GPS Receiver GN 430 Garmin, Gyro directionnal KG 102A, HSI KI 525A indicator, Transreceiver VOR/VHF KX 165 A Honeywell, Radio alti indicator, Giro vertical GV 76-2, altimeter, vertical speed indicator, alticoder, anemometer knot, transreceiver radio altimeter, ELT Kannad 406, Transponder mode S, cabin heating and demisting, sliding door L/H, standard interior grey/black, cabin configuration 2+4 seats, dual control, 6 Bose headsets, ground handling wheels, set of covers, electric handling cart
Par Avion Ltd FALCONS • HAWKERS • LEARS
•BUY •SELL •TRADE CESSNA LEARJET HAWKER WESTWIND FALCON GULFSTREAM
www.alberthaviation.com
www.paravionltd.com SALES • ACQUISITIONS • CONSULTING
Fax: +1 832 934 0011 www.AVBUYER.com
AVBUYER MAGAZINE R January 2019 R
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January 2019
Advertiser’s Index 21st Century Jet Corporation .........................122 Aircraft BlueBook .................................................77 Aircraft Finance Corporation.........................1, 13 Aradian Aviation ....................................................73 Asian Sky Group ..................................................65 Avjet Global ..................................................52 - 53 Avpro ..............................................................14 - 18 Boutsen Aviation ..................................................51 Central Business Jets .......................................123 Conklin & de Decker .........................................105 Corporate Angels Network..............................116 Corporate Concepts ...................................74 - 75 Dassault Falcon Jet ........................................2 - 3, Donath Aircraft Services...........................69, 112
Duncan Aviation...........................................32 - 34 Eagle Aviation........................................................27 ElliottJets ...............................................................45 Engine Assurance Program ...............................35 European Aircraft Sales ...................................114 Freestream Aircraft ..............................................63 General Aviation Services ..................................59 Global Jet Monaco........................................ 5 - 11 Hatt & Associates.................................................25 JetAVIVA .................................................................87 JetBrokers .....................................................82 - 83 Jetcraft Corporation ...........................46 - 47, 124 Jeteffect ....................................................100 - 101 JetHQ ...................................................................113
Leading Edge Aviation Solutions......................91 Lektro ......................................................................77 Mesotis Jets ........................................................115 OGARAJETS................................................20 - 21 Par Avion ................................................................29 Rolls-Royce CorporateCare ..............................19 Southern Cross Aviation.....................................93 Sparfell & Partners ......................................40 - 41 Textron Aviation Pre-Owned ..............................57 The Jet Business..........................................36 - 37 VREF .......................................................................77 Wright Brothers Aircraft Title....................80 - 81
Copy date for the February 2019 Issue - Wednesday 16 January 2019 PROUD MEMBERS OF
British Business & General Aviation Assoc. • British Helicopter Assoc.• European Business Aviation Assoc. • International Aircraft Dealers Assoc. • National Aircraft Finance Assoc. • National Business Aviation Assoc.
AvBuyer (USPS 014-911),December 2018, Vol 22 Issue No 12 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.
120 January 2019 AVBUYER MAGAZINE
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P121.qxp 20/12/2018 12:05 Page 1
Aircraft For Sale • AIRCRAFT • HELICOPTERS
AIRCRAFT
PAGE
AIRBUS ACJ 318 . . . . . . . 37, ACJ 319 . . . . . . . 40, A318 Elite . . . . . 5, 7, A319 . . . . . . . . . . 6, A319CJ . . . . . . . . 51, A319 VIP . . . . . . 5, A380-800 . . . . . . 40,
BAE AVRO RJ70. . . . . 51,
BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 37, 51, 65, DC8-72 VIP . . . . 74, 737 . . . . . . . . . . . 74, 737-700 . . . . . . . 52, 747-8 . . . . . . . . . . 40, 757 . . . . . . . . . . . 52, 767-200ER . . . . . 52, 787-9. . . . . . . . . . 46,
BOMBARDIER Global 5000 . . . . 5, 46, 47, 51, 82, . . . . . . . . . . . . . . . 124, Global 6000 . . . . 5, 8, 46, 47, 124, Global 7500 . . . . 5, Global Express . 47, Global Express XRS. . 5, 14, 47, 124,
Challenger 300 . . . . . . . . . . . 36, 350 . . . . . . . . . . . 15, 36, 117, 600 . . . . . . . . . . . 82, 601-3A ER . . . . . 46, 604 . . . . . . . . . . . 51, 69, 117, 605 . . . . . . . . . . . 47, 52, 91, 100, 124, 650 . . . . . . . . . . . 46, 47, 124, 124,
Learjet 31A . . . . . . . . . . . 27, 33, 47, 82, 35A . . . . . . . . . . . 82, 36A . . . . . . . . . . . 119, 40 . . . . . . . . . . . . 93, 40XR . . . . . . . . . . 83, 101, 45 . . . . . . . . . . . . 45, 47, 101, 124, 45XR . . . . . . . . . . 87, 100, 55 . . . . . . . . . . . . 83, 75. . . . . . . . . . . . . 47, 124,
CESSNA Citation II . . . . . . . . . . . . . 83,
AIRCRAFT
PAGE
III . . . . . . . . . . . . . 33, 82, 83, V. . . . . . . . . . . . . . 82, VI . . . . . . . . . . . . . 83, X . . . . . . . . . . . . . 16, 101, XLS . . . . . . . . . . . 34, 45, XLS+ . . . . . . . . . . . 5, 11, 93, CJ1. . . . . . . . . . . . . 33, 45, 83, 91, CJ1+ . . . . . . . . . . . 115, CJ2. . . . . . . . . . . . . 41, 47, 124, CJ3. . . . . . . . . . . . 16, 27, 29, Bravo . . . . . . . . . 16, 47, 123, Encore . . . . . . . . 16, 45, Excel . . . . . . . . . . 34, 101, Jet . . . . . . . . . . . . 27, Mustang. . . . . . . . 51, 93, P210 . . . . . . . . . . 82, SII Sierra . . . . . . 115, Sovereign. . . . . . 113, Sovereign+ . . . . 101, T182T . . . . . . . . . . 27, 182S . . . . . . . . . . 27, T206H . . . . . . . . . 82, A185 E . . . . . . . . 82, GrandCaravanEX. . 47,
CIRRUS SR20G2 . . . . . . . 27, SR22G3 . . . . . . . 27,
DAHER SOCATA TBM700A . . . . . . 51, TBM700B . . . . . . 27, TBM930 . . . . . . . 45,
DASSAULT FALCON 7X . . . . . . . . . . . . 15, 47, 51, 65, 93, . . . . . . . . . . . . . . . 122, 8X . . . . . . . . . . . . 15, 123, 20C-5AR. . . . . . . 82, 20F . . . . . . . . . . . 82, 50 . . . . . . . . . . . . 20, 32, 51, 59, 83, . . . . . . . . . . . . . . . 112, 122, 50EX . . . . . . . . . . 16, 32, 41, 52, 100, . . . . . . . . . . . . . . . 122, 900 . . . . . . . . . . . 122, 900B . . . . . . . . . . 15, 74, 122, 900C . . . . . . . . . . 122, 123, 900EX . . . . . . . . . 2, 15, 122, 900EX EASy . . . 2, 15, 33, 36, 122, . . . . . . . . . . . . . . . 123, 900LX . . . . . . . . . 5, 9, 122, 2000 . . . . . . . . . . 3, 16, 32, 47, 59, 93,
AIRCRAFT
PAGE
. . . . . . . . . . . . . . . 124, 2000EX. . . . . . . . 36, 2000EX EASy . . 3, 15, 25, 2000LXS. . . . . . . 124,
DORNIER 328 JET. . . . . . . . 27, 328-310 . . . . . . . 33,
EMBRAER
AIRCRAFT
PAGE
900XP . . . . . . . . . 73, 4000 . . . . . . . . . . 34,
HONDA JET . . . . . . . . . . . 73, 87,
IAI Astra SP . . . . . . . 52, 54, Westwind II . . . . 54, 83,
Legacy 500 . . . . 17, 32, 37, 47, Legacy 600 . . . . 41, Legacy 650 . . . . 5, 10, 40, 65, 82, Lineage 1000 . . 37, 40, 65, Lineage 1000E . 123, Phenom 100E . . 41, 87, Phenom 300 . . . 45, 74, 117,
NEXTANT
GULFSTREAM
Cheyenne IIIA . . 82, Comanche . . . . . 82, Meridian . . . . . . . 82,
IV . . . . . . . . . . . . . 73, 117, IVSP . . . . . . . . . . 14, 73, 93, V. . . . . . . . . . . . . . 14, 36, 63, 73, . . . . . . . . . . . . . . . 74, 123, 150 . . . . . . . . . . . 47, 73, 82, 124, 200 . . . . . . . . . . . 14, 93, 100, 450 . . . . . . . . . . . 36, 63, 500 . . . . . . . . . . . 100, 550 . . . . . . . . . . . 5, 14, 40, 51, 63, 65, . . . . . . . . . . . . . . . 73, 123, 124, 650 . . . . . . . . . . . 37 91, 124, 650ER. . . . . . . . . 37,
HAWKER BEECHCRAFT King Air 200 . . . . . . . . . . . 82, 250 . . . . . . . . . . . 47, 124, 350 . . . . . . . . . . . 25, 73, 82, 87, B200 . . . . . . . . . . 41, 73, C90 . . . . . . . . . . . 73, C90B. . . . . . . . . . 46, 82, E90 . . . . . . . . . . . 51, 59,
Beechcraft Baron . . . . . . . . . . 118, Premier IA . . . . . 51,
Hawker 400XP . . . . . . . . . 45, 400XPR . . . . . . . 17, 750 . . . . . . . . . . . 20, 800A . . . . . . . . . . 59, 800XP . . . . . . . . . 20, 25, 33, 34, 59, . . . . . . . . . . . . . . . 73, 850XP. . . . . . . . . 33, 52,
400XP . . . . . . . . . 25,
PILATUS PC12/47E. . . . . . 47, 124,
PIPER
HELICOPTERS AIRBUS/ EUROCOPTER AS350B-3 . . . . . 119, AS365N-1 . . . . . 17, EC 130B4. . . . . . 118, EC 135 T2 . . . . . 114, H125 . . . . . . . . . . 47, 118, 124,
AGUSTAWESTLAND AW109E Power . 17, 41, AW109S Grand . 41, A119 Koala . . . . 46, 73, AW139 . . . . . . . . 41,
BELL 212 . . . . . . . . . . . 118, 119, 212EMS . . . . . . . 119, 212 EP . . . . . . . . 73, 117, 407 . . . . . . . . . . . 73, 427 . . . . . . . . . . . 118,
SIKORSKY S-76C+ . . . . . . . . 17, 47, 124, S-92A . . . . . . . . . 17,
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