World Aircraft Sales Magazine July 2014

FC Bombardier July 2014_FC December 06 25/06/2014 11:09 Page 1

WORLD

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The global marketplace for business aviation

July 2014

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an AvBuyer.com Publication

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AC Index July 26/06/2014 12:20 Page 1

Aircraft For Sale • AIRCRAFT • HELICOPTERS • PRODUCT & SERVICE PROVIDERS AIRCRAFT

PAGE

AIRBUS A318 Elite. . . . . . 126, 127, A319CJ . . . . . . . . 40, 65, A320 VIP . . . . . . 140,

BOEING/MCDONNELL DOUGLAS BBJ . . . . . . . . . . . 34, 35, 43, 55, CRJ-200 ER . . . . 45, 727-VIP. . . . . . . . 55, DC8-62 VVIP . . . 55,

BOMBARDIER Global 5000 . . . . 10, 25, 40, 51, 140, Global 6000 . . . . 40, 41, 140, Global Express . 25, 35, 44, 55, 65, . . . . . . . . . . . . . . . 114, 140, Global Express XRS.10, 41, 44, 67, . . . . . . . . . . . . . . . 115, 140,

Challenger 300 . . . . . . . . . . . 11, 25, 46, 53, 69, . . . . . . . . . . . . . . . 122, 140, 601-1A . . . . . . . . 132, 601-3A . . . . . . . . 34, 601-3R . . . . . . . . 132, 604 . . . . . . . . . . . 37, 46, 69, 75, 140, 605 . . . . . . . . . . . 40, 46, 65, 140, 850 . . . . . . . . . . 40, 140,

Learjet 31A . . . . . . . . . . . 37, 134, 135, 31ER . . . . . . . . . . 49, 34E . . . . . . . . . . . 57, 35A . . . . . . . . . . . 95, 112, 36A . . . . . . . . . . . 134, 40XR . . . . . . . . . . 116, 45 . . . . . . . . . . . . 132, 45BR . . . . . . . . . . 95, 45XR . . . . . . . . . . 117, 132, 140, 55 . . . . . . . . . . . . 75, 60 . . . . . . . . . . . . 35, 37, 132, 60SE . . . . . . . . . . 37, 140, 60XR . . . . . . . . . . 30, 37, 46, 132, 135,

CESSNA Citation ISP . . . . . . . . . . . 49, II. . . . . . . . . . . . . . 36, 48, III . . . . . . . . . . . . . 12, 75, 110, IVSP . . . . . . . . . . 28, V. . . . . . . . . . . . . . 12, 28, 36, 111, VII . . . . . . . . . . . . 28, 139, X . . . . . . . . . . . . . 12, 69, 132, XLS . . . . . . . . . . . 25, 36, XLS+ . . . . . . . . . . 25, 57, CJ1. . . . . . . . . . . . 12, 25, 135, CJ1+ . . . . . . . . . . 13, 23, 132,

AIRCRAFT

PAGE

CJ2. . . . . . . . . . . . . 13, 23, 36, 65, 87, . . . . . . . . . . . . . . . 132, CJ2+ . . . . . . . . . . 13, CJ3. . . . . . . . . . . . 21, 48, 65, 87, CJ4. . . . . . . . . . . . 13, M2 . . . . . . . . . . . . 23, 414 . . . . . . . . . . . 23, 414A . . . . . . . . . . 49, 650 . . . . . . . . . . . 87, Bravo . . . . . . . . . 39, 118, Encore . . . . . . . . 12, Excel . . . . . . . . . . 12, Jet . . . . . . . . . . . . 25, Mustang . . . . . . . 39, Sovereign. . . . . . 12, 51, 55, 75, Ultra . . . . . . . . . . 12, 111, 128, 132,

Conquest I . . . . . . . . . . . . . . 23,

Grand Caravan VIP Caravan. . . . 55,

EMBRAER EMB-135LR . . . . 55, ERJ-145EP. . . . . 55, Legacy . . . . . . . . 124, Legacy 500 . . . . 20, 140, Legacy 600 . . . . 55, 69, Lineage. . . . . . . . 35, Phenom 100 . . . 95, Phenom 300 . . . 46, 65,

FAIRCHILD DORNIER 328 . . . . . . . . . . . 23, 65,

FALCON JET 7X . . . . . . . . . . . . 3, 10, 40, 48, 51, 65, . . . . . . . . . . . . . . . 135, 138, 140, 10 . . . . . . . . . . . . 36, 20F . . . . . . . . . . . 139, 20-5F. . . . . . . . . . 95, 50 . . . . . . . . . . . . 3, 11, 46, 51, 57, 65, . . . . . . . . . . . . . . . 67, 69, 119, 133, . . . . . . . . . . . . . . . 138, 50-40 . . . . . . . . . 139, 50EX . . . . . . . . . . 11, 27, 138, 139, 900B . . . . . . . . . . 3, 11, 20, 55, 75, . . . . . . . . . . . . . . . 132, 138, 139, 900C . . . . . . . . . . 11, 33, 48, 113, 138, . . . . . . . . . . . . . . . 139, 140, 900DX . . . . . . . . . 125, 900EX . . . . . . . . . 45, 138, 900EX EASy . . . 3, 40, 135, 138, 139, 900LX . . . . . . . . . 11, 2000 . . . . . . . . . . 11, 36, 45, 51, 55, . . . . . . . . . . . . . . . 57, 120, 132, 2000EX. . . . . . . . 53, 140,

AIRCRAFT

PAGE

2000EXEASy . . 3, 10, 40, 44, 51, 75, 2000LX . . . . . . . . 3, 20, 2000S . . . . . . . . 10,

GULFSTREAM IISP . . . . . . . . . . . 139, IV . . . . . . . . . . . . . 34, 35, 41, 95, 132, . . . . . . . . . . . . . . . 140, IVSP . . . . . . . . . . 10, 30, 41, 44, 46, . . . . . . . . . . . . . . . 55, 69, V. . . . . . . . . . . . . . 10, 20, 21, 29, 41, . . . . . . . . . . . . . . . 69, 79, 132, 139, . . . . . . . . . . . . . . . 140, 100 . . . . . . . . . . . 36, 75, 150 . . . . . . . . . . . 10, 28, 30, 57, 67, 79, 200 . . . . . . . . . . . 7, 10, 21, 36, 47, 57, . . . . . . . . . . . . . . . 69, 75, 120, 139, 280 . . . . . . . . . . . 28, 450 . . . . . . . . . . . 10, 20, 29, 30, 34, . . . . . . . . . . . . . . . 55, 140, 550 . . . . . . . . . . . 7, 25, 29, 34, 55, . . . . . . . . . . . . . . . 123,

HAWKER BEECHCRAFT Beechcraft RK-194 . . . . . . . . 39, 400 . . . . . . . . . . . 57, 400A . . . . . . . . . . 13, 37, 39, Premier 1A. . . . . 46, 95,

King Air 200 . . . . . . . . . . . 13, 132, 350 . . . . . . . . . . . 20, 36, 65, 67, 95, B200 . . . . . . . . . . 25, 30, 39, 46, 49, C90 . . . . . . . . . . . 65, 95, C90B . . . . . . . . . . 13,

Hawker 400XP . . . . . . . . . 39, 132, 700A . . . . . . . . . . 37, 800A . . . . . . . . . . 48, 133, 800XP . . . . . . . . . 7, 13, 21, 37, 46, 95, . . . . . . . . . . . . . . . 121, 133, 900XP . . . . . . . . . 13, 136, 1000B . . . . . . . . . 140,

IAI Astra . . . . . . . . . . 36, Astra SP . . . . . . . 67, Westwind II . . . . 35, 133,

PIAGGIO Avanti II . . . . . . . 95, Avanti P180 . . . . 51, 136,

07.14 AIRCRAFT

PAGE

SABRELINER 65 . . . . . . . . . . . . 36,

SOCATA TBM 700A . . . . . 109, TBM 700B . . . . . 36, TBM 850. . . . . . . 132,

HELICOPTERS AGUSTAWESTLAND A109A II Plus . . 14, A109 Power . . . . 140, A109E Power. . . 14, A109S Power . . 14, Grand . . . . . . . . . 65, A119 KE . . . . . . . 65,

BELL 206 L4. . . . . . . . . 134, 212 . . . . . . . . . . . 134, 407 . . . . . . . . . . . 132, 412 EMS . . . . . . 134, 429 . . . . . . . . . . . 14, 34, 430 . . . . . . . . . . . 14,

EUROCOPTER AS 350 B2 . . . . . 65, AS 350 B3E . . . . 65, AS 355 F-2. . . . . 55, AS 365 N2 . . . . . 14, BK 117C1. . . . . . 65, EC120B . . . . . . . 65, 136, EC 130 B4 . . . . . 25, EC 135 P2i . . . . . 14,

SIKORSKY S-76C+ . . . . . . . . 14, S-76C++ . . . . . . 45,

CORPORATE AVIATION PRODUCTS & SERVICES PROVIDERS Aircraft Engine /Support . 59, 108 Aircraft Perf & Specs . . . . . 108, Aircraft Title/Registry . . . . 77, 83, Ground Handling . . . . . . . . 137, Legal. . . . . . . . . . . . . . . . . . . 108,

The Global Aircraft Market Online

PIPER Cheyenne II . . . . 65,

THE WORLD’S LEADING

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The global marketplace for business aviation News - Aircraft listings - Editorial WORLD AIRCRAFT SALES MAGAZINE IS A MEMBER OF THE FOLLOWING ORGANISATIONS: Aircraft Electronics Association (AEA) - British Business and General Aviation Association (BBGA) British Helicopter Association (BHA) - European Business Aviation Association (EBAA) Helicopter Association International (HAI) - National Aircraft Finance Association (NAFA) National Aircraft Resale Association (NARA) - National Business Aviation Association (NBAA)

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

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PUBLISHER John Brennan 1- 800 620 8801 John@avbuyer.com USA OFFICE 1210 West 11th Street, Wichita, KS 67203-3517 EUROPEAN OFFICE Cowleaze House, 39 Cowleaze Rd, Kingston, Surrey, KT2 6DZ, UK +44 (0)20 8255 4000 PRINTED BY Fry Communications, Inc. 800 West Church Road, Mechanicsburg, PA 17055

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Contents

Volume 18, Issue 7 – July 2014

Featured Articles Business Aviation and the Boardroom 16

Understanding & Using BizAv: Maximise the benefits from business aircraft. Seek the counsel of experts experienced with these sophisticated tools, urges Jack Olcott.

18

Safety - It Starts With the Board: How will Corporate leadership establish best safety practices in their aviation services? Take our self-assessment test to find out…

26

It’s a Great Big World Out There (Part 2): In today’s global market, there’s a great need for experts facilitating international Business Aviation transactions.

38

Developing Aviation Managers: It’s a Board’s responsibility to provide

54

flight department managers professional development. Here are some of the development paths…

50

Aviation Workers’ Compensation: Many a company is left to fend for itself to find protection for pilots, mechanics and flight attendants. We offer a strategy for these challenges.

54

BizAv Sales Tax Planning: A business aircraft purchaser can substantially

68

reduce or completely eliminate sales and use tax liability on a business aircraft purchase. We examine how...

58

Entry Level & Light Jet Value: A look at the benefits of the Entry Level and Light jets, and a listing of values for the models built over the last 20 years.

Main Features 62

Flight Dept. Management Skills – High Trust Leadership/Followership: Great leaders and managers have trustworthiness in common. Cultivate this with ‘the Five Cs’.

64

Flight Dept. Management Skills – Communicate the Value of Aviation: Aviation professionals must communicate the value of BizAv to the Board, firmly aligning it with company goals.

68

Aircraft Comparative Analysis – Citation Mustang: How does the performance of the Cessna Citation Mustang stand up against Embraer’s Phenom 100?

84

Dealer Broker Market Update: A selection of brokers reflect on slow gains in the pre-owned aircraft market, along with its more puzzling elements in view of the overall US economy.

92

129

Other Features

Scaling an SMS: In his first of a three-part study in World Aircraft Sales Magazine,

74 82 90 100 105

safety consultant Mario Pierobon considers the complexities of scaling an SMS to a small flight operation.

Next Month’s Issue

ADS-B Deployment: In mid-April the FAA completed the ground network built to support ADS-B. Dave Higdon reviews the current state of play, and asks what’s next for the US ADS-B services?

98

98

The Pilot Shortage: Business Aviation offers many advantages to pilots over airline flying, but is that enough? We ponder today’s shrinking supply of pilots.

Advertising Enquiries see Page 8

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Aircraft Specs & Performance Tables Aviation Leadership Roundtable Pre-Owned Aircraft Sales Trends Market Indicators BizAv Round-Up

Business Aviation and the Boardroom Plane Sense on Refurbishments Aircraft Comparative Analysis (Gulfstream G450)

WORLD AIRCRAFT SALES MAGAZINE – July 2014

9

Avpro July 23/06/2014 12:55 Page 1

GLOBAL 5000 VISION 2015 DELIVERY POSITION

GLOBAL EXPRESS XRS SERIAL NUMBER 9387

GULFSTREAM V SERIAL NUMBER 525

GULFSTREAM G450 SERIAL NUMBER 4024

GULFSTREAM G200 SERIAL NUMBER 203

GULFSTREAM 150 SERIAL NUMBER 258

GULFSTREAM IVSP SERIAL NUMBER 1292

FALCON 7X SERIAL NUMBER 36

FALCON 2000EXY SERIAL NUMBER 107

FALCON 2000S SERIAL NUMBER 711

900 BESTGATE ROAD z SUITE 412 z ANNAPOLIS, MARYLAND 21401 z TEL 410-573-1515

Avpro July 23/06/2014 12:55 Page 2

WWW W W W . AVPROJETS AV P R O J E T S . C COM OM

VIEW W VIDE IDEO EO OF OU UR R EX XCLUSIVE CLUSIVE LISTINGS!

FALCON FALCON 2000 SERIAL NUMBER 105

FALCON FALCON 900LX 900LX SERIAL NUMBER 1900

FALCON FALCON 900C 900C SERIAL NUMBER 195

FALCON FALCON 900B 900B SERIAL NUMBER 3

FALCON FALCON 50EX 50EX SERIAL NUMBER 275

FALCON FALCON 50EX 50EX SERIAL NUMBER 3200

FALCON FALCON 50 SERIAL NUMBER 158

CHALLENGER CHALLENGER 300 SERIAL NUMBER 20043

INFO@AVPROJETS.COM

EMS MS EM Configured Config gured

FALCON FALCON 50 SERIAL NUMBER 1599

C CHALLENGER HALLENGER 300 3 SERIAL NUMBER 20188 200188

WWW.AVPROJETS.COM

Avpro July 23/06/2014 12:56 Page 3

CITATION SOVEREIGN SERIAL NUMBER 278

CITATION X SERIAL NUMBER 251

CITATION X SERIAL NUMBER 254

CITATION EXCEL SERIAL NUMBER 5161

CITATION EXCEL SERIAL NUMBER 5300

CITATION ENCORE SERIAL NUMBER 543

CITATION ULTRA SERIAL NUMBER 439

CITATION V SERIAL NUMBER 234

CITATION III SERIAL NUMBER 152

CITATION CJ1 SERIAL NUMBER 495

900 BESTGATE ROAD z SUITE 412 z ANNAPOLIS, MARYLAND 21401 z TEL 410-573-1515

Avpro July 23/06/2014 12:56 Page 4

V ISIT ISIT

W WWW W W . AVPROJETS AV P R O J E T S . C COM OM VIIEW W VIIDEO OF OU UR R EX XCLUSIVE CLUSIVE LISTINGS!

CITATION C ITATION CJ1+ CJ1+ J SERIAL NUMBER 651

CITATION CITATION CJ2 CJJ2 SERIAL NUMBER 15

CITATION C ITATION C CJ2+ JJ2+ SERIAL E NUMBER 332

CITATION CITATION CJ4 CJJ4 SERIAL NUMBER 17

HAWKER H AWKE ER 800XP SER ERIAL RIAL NUMBER 258293

HAWKER HAWKE ER 800XP SERIAL NUMBER 258562 258562

HAWKER H HA AWKER E 900 900XP XP SER ERIAL RIAL NUMBER HA-49 HA-49

BEECHJET 400A 400A BEECHJET RK-677 SERIAL NUMBER RK-67

KING KING AIR AIR C90B C90B SER ERIAL RIAL NUMBER L LJ-1453 JJ-1453

KIN KING GA AIR IR B B200 200 SERIAL NUMBER BB-1757 BB-1757

INFO@AVPROJETS.COM

WWW.AVPROJETS.COM

Avpro July 23/06/2014 14:25 Page 5

AGUSTA A109E POWER SERIAL NUMBER 11145

AGUSTA A109E POWER SERIAL NUMBER 11770

AGUSTA A109E POWER SERIAL NUMBER 11831

AGUSTA A109S POWER SERIAL NUMBER 22031

AGUSTA A109S POWER SERIAL NUMBER 22077

AGUSTA A109S POWER SERIAL NUMBER 22137

AGUSTA A109A II PLUS SERIAL NUMBER 7436

BELL 429 SERIAL NUMBER 57056

BELL 430 SERIAL NUMBER 49028

EUROCOPTER EC135P2i SERIAL NUMBER 0691

EUROCOPTER AS-365N2 SERIAL NUMBER 6650

SIKORSKY S-76C+ SERIAL NUMBER 760464

900 BESTGATE ROAD z SUITE 412 z ANNAPOLIS, MARYLAND 21401 z TEL 410-573-1515

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BUSINESS AVIATION AND THE BOARDROOM

Understanding & Using Business Aviation A Unique Form of Transportation.

Possibly the world’s most recognized expert on the value of Business Aviation, Jack Olcott is a former Editor and Publisher of Business & Commercial Aviation magazine and Vice President within McGraw-Hill’s Aviation Week Group. He was President of the National Business Aviation Association from 1992 through 2003, and today Jack’s network and personal knowledge of Business Aviation uniquely qualifies him to oversee Business Aviation and the Boardroom.

More information from Jack@avbuyer.com

“Today’s Business Aviation is a necessary (albeit unofficial) partner with the major air carriers in addressing the travel needs of business men and women.”

16

To obtain the fullest benefits from business aircraft, companies should seek the counsel of experts who are experienced with these sophisticated business tools, advises Jack Olcott.

T

he importance of Business Aviation is reflected in the infrastructure and intellectual property associated with utilizing business aircraft safely, efficiently and productively. Major manufacturers have invested heavily in personnel and facilities required to design, manufacture, market and support aircraft that serve companies and entrepreneurs seeking access to emerging - as well as established - markets.

WORLD AIRCRAFT SALES MAGAZINE – July 2014

Companies large and small, public and private have embraced Business Aviation by establishing flight departments, contracting with management firms to operate their corporate jet, or employing charter aircraft to reach destinations that the Scheduled Airlines either serve infrequently or not at all. Today’s Business Aviation is a necessary (albeit unofficial) partner with the major air carriers in addressing the travel needs of business men and women.

Consequently, the environment encompassing the successful acquisition, use and sale of business aircraft involves many sophisticated disciplines ranging from finance, equipment selection, personnel, operating regulations and procedures, management practices and oversight.

A REFLECTION OF SOPHISTICATION Jet Aviation, a wholly owned subsidiary of corporate giant General Dynamics, is an example of the sophisticated nature of Business Aviation. It manages or oversees the operation

www.AvBuyer.com

Aircraft Index see Page 4

BG 1 July14_FinanceSept 24/06/2014 10:04 Page 2

What the Boardroom needs to know about Business Aviation of nearly 250 business aircraft located throughout the globe, operating the world’s largest fleet of Bombardier Global Express aircraft, and its total fleet includes nearly every business jet currently flying. In addition to aircraft operations, the company has maintenance facilities as well as centers for completing the specialized interiors of business aircraft. Jet Aviation’s operation as well as its reputation is global, and well respected.

Even with such impressive credentials, which are well known throughout the community, each client that approaches Jet Aviation typically is accompanied by an aviation consultant. The consultant’s presence rarely, if ever, is because the prospective client questions the qualifications of Jet Aviation. Rather, the nature of Business Aviation is careful attention to detail and constant due diligence.

Companies seeking the benefits of Business Aviation appreciate that the transaction to acquire and use an aircraft is a specialized process that ultimately relates to how the aircraft will be operated. Furthermore, the value to be obtained from using business aircraft is uniquely connected with how safely, efficiently and productively the company’s aviation assets are employed.

Thus, most companies acquiring a business aircraft seek the advice and counsel of experts with a proven track record as soon as the company considers whether or not to use Business Aviation. Experts who assist with aircraft selection and related services, such as locating specialists in financing and other transactional aspects, typically are retained throughout the life of the ownership experience, including the owner’s selection of management or operating services such as Jet Aviation provides, or when the aircraft purchaser establishes its own flight department.

Employing experts with specialized knowledge of Business Aviation is simply wise when overseeing the use of business aircraft.

CLOSER LOOK The early history of Business Aviation is replete with tales of aviation enthusiasts “selling” the idea of an aircraft to the company owner or the Board. My first employment in Business Aviation many years ago was with a management company owned by a man who sold the idea of using business aircraft to a public corporation that was managed, in part, by the person who played halfback on the same college team where my boss was the quarterback. The relationship between two college chums and teammates grew into a flight department that flew a Twin Beech and DC-3 aircraft.

Fortunately for the corporation, the owner of the management firm was a conscientious businessman who hired good maintenance and flight personnel. Also, back then aviation was less sophisticated and in some ways much simpler.

The corporation’s flight department was eventually integrated into the overall management structure of the firm, transitioned to turbine aircraft, and now operates several long-range business jets Advertising Enquiries see Page 8

“Employing experts with specialized knowledge of Business Aviation is simply wise when overseeing the use of business aircraft.” throughout the world. Today, such a transition from an enthusiast’s idea to a multi-aircraft fleet operating globally is unlikely.

Business Aviation is unique. Its benefits will facilitate success for those companies that understand how to employ business aircraft. But acquiring the capabilities of business aircraft requires significant funds, specialized knowledge and careful attention to detail. There is little room for error, especially when the productivity and wellbeing of a company’s most important asset— its employees—is concerned. Engaging a knowledgeable consultant is a recommended investment.

Do you have any questions or opinions on the above topic?

Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com Business Aviation and the Boardroom continues on Page 18

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

17

BG 2 July14_FinanceSept 24/06/2014 10:07 Page 1

BUSINESS AVIATION AND THE BOARDROOM

It Starts With The Board!

A test for Business Aviation safety.

Peter Agur Jr. is managing director and founder of The VanAllen Group, a business aviation consutancy with expertise in safety, aircraft acquisitions, and leader selection and development. A member of the Flight Safety Foundation’s Corporate Advisory Committee and the NBAA’s Corporate Aviation Managers Committee (emeritus), he is an NBAA Certified Aviation Manager.

Contact him via www.VanAllen.com.

The greatest threat to Business Aviation safety is “assumption”, asserts Pete Agur. Following is a test to self-assess your company’s Business Aviation safety standards. ost Board Members assume that their company’s aviation service providers are performing to a high standard of safety.

The following quiz is a quick barometer for measuring Business Aviation safety standards. It helps you understand your own, and your service provider’s tolerance for risk.

This is a simple quiz. Score each item on a 10 scale.

Give full credit (10 points) or partial credit based on how well the issue is being addressed. I won’t wish you good luck. This is about assuring that your company is living with an acceptable level of risk.

M

1.

Audits and Reviews – Have your aviation services been audited or assessed within the past 24 months? How often are other critical parts of your business audited (finance and accounting, etc.)? Do your aviation services routinely gain the benefit of an outside eye?

Is that eye focused on the lower standard of FAA compliance or on the higher standard of industry Best Practices?

U

Score: ____

continued on page 22

18

WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Aircraft Index see Page 4

Focus.

We see more clearly.

Whether you're buying or selling, Mesinger is the clear choice when considering an aircraft.

Our focus on strong customer relationships, and having a clear understanding of client needs, allows for a successful outcome…every time.

BROKERAGE & ACQUISITIONS

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FOR SALE • NEW TO MARKET

1995 Falcon 900B Serial Number: 149 Asking Price: $7,695,000 Hours: 4,951 TTAF Landings: 2,486

FOR SALE • NEW TO MARKET

• Professionally Maintained and Operated • Excellent Maintenance Records • Beautiful and Spacious Fifteen Passenger Cabin • Sirius Satellite Radio System

FOR SALE • PRICE REDUCED

2008 Gulfstream G450 Serial Number: 4118 Now Asking: $22,450,000 Hours: 2,267 TTAF Landings: 705

2008 Falcon 2000LX Serial Number: 147 Asking Price: $19,975,000 Hours: 2,046 TTAF Landings: 1,482

• Excellent Pedigree - 1 U.S. Large Corporate Owner • Engines Enrolled on ESP • APU enrolled on MSP • Delivered with a Fresh C-Check, Basic EASy II Upgrade & New Paint

FOR SALE

• Excellent 1 U.S. Owner Pedigree • Currently Operated Part 135 • Gulfstream Maintained • Certification Foxtrot • Gulfstream Broadband Multi-Link (BBML)

FOR SALE • LAUNCH CUSTOMER PRICING

2001 Gulfstream GV Serial Number: 642 Asking Price: $15,500,000 Hours: 10,875 TTAF Landings: 4,058

• Two owners since new • Engines enrolled on Rolls-Royce Corporate Care • 144 Month Inspection complied with June, 2013 at Gulfstream, Savannah

FOR SALE

FILE PHOTO

2014 Embraer Legacy 500 Asking Price: $18,500,000 + Options + Escalators Projected Serial Number: 12

• Anticipated 2014 Airworthiness & Q4 Delivery • Spec’d with over $1.3M in Options • ADS-B Out & TCAS II Version 7.1 • 9 Passenger Interior with 3 Place Divan • Enhanced Cabin Management System

2004 King Air 350 Serial Number: FL-0398 Asking Price: $3,250,000 Hours: 2,494 TTAF Landings: 1,938

Mesinger Jet Sales • Brokerage & Acquisitions Read our industry blog at jetsales.com/blog • Follow us on twitter @jmesinger Watch airplane videos at jetsales.com/inventory

• • • • • •

One Owner Since New Excellent Pedigree Professionally Maintained & Operated Collins Pro Line 21 Cockpit & Avionics Collins DBU-5000 Data Base Unit Raisbeck Aft Body Strakes

+1 303 444 6766 • Fax: + 1 303 444 6866 jetsales.com

COMING SOON

FOR SALE • DEAL PENDING

FILE PHOTO

2000 Gulfstream G200 Hours: 5,547 TTAF Landings: 3,311

• • • •

Engines enrolled on ESP Gold APU enrolled on MSP One U.S. Owner Excellent Pedigree

FOR SALE • DEAL PENDING

2001 Hawker 800XP Serial Number: 258522 Hours: 6,294 TTAF Landings: 3,848

2007 Citation CJ3 Serial Number: 138 Hours: 2,196 TTAF Landings: 1,055

• • • • •

Engines enrolled on TAP Advantage Blue Cessna ProParts Coverage Collins IFIS-5000 w/ Electronic Charts TCAS II Factory Option Honeywell Mark VIII EGPWS

FOR SALE • DEAL PENDING

• Engines enrolled on MSP • Honeywell SPZ-8000 and ED-800 5-tube EFIS • Magnastar C-2000 FFONE • Artex 406 ELT • Universal CVR-30B Solid State CVR

WANTED

2000 Gulfstream GV Serial Number: 609 Hours: 3,540 TTAF Landings: 1,559

• Engines enrolled on Rolls-Royce Corporate Care • APU Enrolled on MSP • Airframe Enrolled on Gulfstream PlaneParts™

WANTED

FILE PHOTO

Lear 60XR

• Immediate Buyer • Desired Floor Plans: E, F, F1 or H • EASA Capable desired

FILE PHOTO

Boeing BBJ

Mesinger Jet Sales • Brokerage & Acquisitions Read our industry blog at jetsales.com/blog • Follow us on twitter @jmesinger Watch airplane videos at jetsales.com/inventory

• • • •

2010 or newer High Density Seating - 26+ seats VVIP Confi guration 7 tanks

+1 303 444 6766 • Fax: + 1 303 444 6866 jetsales.com

BG 2 July14_FinanceSept 24/06/2014 10:10 Page 2

What the Boardroom needs to know about Business Aviation 2.

Badges versus Behaviors – The International Standard - Business Aircraft Operations (ISBAO) is becoming the norm. It has three stages.

The first two are progress installments. Stage Three is the Full Monty, which includes integration of actions into behaviors. However, IS-BAO is NOT Best Practices. It is a framework, documentation and a set of processes.

The standards and behaviors that your service provider elects to imbed with IS-BAO are what counts. Does your aviation staff walk the talk?

For instance, are there at least three people marshalling the aircraft every time it is towed?

More aircraft are damaged during towing than during any other phase of operation.

Score: ____ 3.

Cabin Safety – Do your flight crews conduct complete cabin safety briefings for each passenger’s first leg of the day? Do they just push the “play” button on the auto-briefing system, or do they take the time and effort to show passengers what they need to know? If your company has a large cabin aircraft, is there a fully trained cabin safety attendant on every passenger leg? Do frequent passengers participate in cabin safety training at least every other year?

aircraft) but not enough to accomplish flight duties and run the business, which includes assuring safety. The number of variances from fatigue management guidelines is a good indicator of staff capacity. How often did pilots work past their duty limits (sequential hours or days) during the past year? A few times is typical. More often is not.

Score: ____ 4.

Cabin Safety Discipline – The highest risk periods of flight are during takeoff and landing.

Are passengers’ seatbacks upright, tables stowed, and briefcases and laptops put away?

Unsecured objects become nasty missiles during off-runway excursions. Do passengers keep their seatbelt fastened when seated?

Dozens of people are injured each year from being banged around by unexpected turbulence. Do all passengers leave the pilots alone below 18,000 feet so they can focus on the job at hand?

Score: ____ 7.

Score: ____ 5.

Safety Budget – Is additional safety training (upset training, etc.) part of the company’s budget for aviation services? Does the aviation department have the funds to participate in industry events like the Business Aviation Safety Seminar, or the Safety Standdown? Is that budget spread among several members of the department to gain broader impact? Upon return, do the participants conduct formal briefings for the home team?

Score: ____ 6.

22

Staffing for Safety – Understaffing is the biggest challenge most aviation service organizations face. They are usually staffed for operations (i.e., they have enough bodies to fly the WORLD AIRCRAFT SALES MAGAZINE – July 2014

Safety Officer or Team – Does the aviation department have a defined “safety” function?

The Best Practice is to have a Safety Team that is multi-disciplined. Safety is not just for pilots.

No one person has a corner on the market for good ideas. Is the Safety Team comprised of staff members only (no managers) so there is a free flow of ideas?

Score: ____ 8.

Safety Management System (SMS) – Safety Management is the systematic identification of threats, the assessment of the risks that comprise those threats to determine their severity and probability, and the mitigation of those risks to an acceptable level. One component of an SMS is a Flight Risk Assessment Tool (FRAT). The FRAT focuses on the critical elements of a proposed trip and assesses and scores the risks. Unacceptable scores are adjusted by implementing mitigations. Do crews use a FRAT for every leg?

Score: ____ www.AvBuyer.com

U

“Are passengers’ seatbacks upright, tables stowed, and briefcases and laptops put away?

Unsecured objects become nasty missiles during off-runway excursions.” continued on page 24 Aircraft Index see Page 4

Eagle July 26/06/2014 14:28 Page 1

Eagle Aviation, Inc. 2861 Aviation Way, West Columbia, SC 29170 Phone: (800) 849-3245 International: (803) 822-5520 Email: sales@eagle-aviation.com or visit www.eagle-aviation.com

Citation Specialist Do you want your Citation Sold too? If so, call the experts at Eagle!

2014 CITATION M2, S/N 525-0822

2006 CITATION CJ1+, S/N 525-0620

135 Engines

2004 CITATION CJ2, S/N 525A-0203

1981 CONQUEST I, S/N 425-0063

1999 EXECUTIVE 328 JET, S/N 3121

1976 CESSNA 414, S/N 414-0815

After hours contact • Dennis Dabbs +1 803 822-5533 • Lee Thomas +1 803 822-5526 Matt Fullerton +1 316 722-4375 • Ralph Lacomba +1 803 822-5578

Aircraft Sales, Maintenance, Avionics, Paint & Interior, Executive Charter, 24/7 Line Service

BG 2 July14_FinanceSept 24/06/2014 10:17 Page 3

What the Boardroom needs to know about Business Aviation 9.

HIT Reports – If it happened to me it can happen to you. Hazard and Incident Tracking (HIT) reports are a great way to share knowledge. Does your aviation department have a HIT reporting process? Is it in active use?

Business aircraft fly, on average, at least a trip each week. I have never flown a trip that was event-free. That means a fully functioning HIT system should generate numerous reports per aircraft, per year. Does yours?

Score: ____ 10. Emergency Response Preparedness – Does the company’s aviation services provider have a documented Emergency Response Plan (ERP) that contains dozens of pages of roles, responsibilities and checklists? Is the aviation ERP integrated into the company plan? Have a number of people been trained on the unique issues to be addressed in an aviation event? Is your ERP team prepared to take care of company personnel and their family members, manage public and private communications, and support subsequent investigations (NTSB and FAA)? Has an ERP simulation or exercise been conducted within the past 18-24 months?

TEST SUMMARY Aviation safety is a co-responsibility. Corporate leaders establish the goal (Best Practices or better?) and commit the authority and funding to achieve that goal. The aviation services team is charged with making it happen. What was your company’s total score? How high do you want it to be? How will that score be achieved? Safety starts with the Board.

Do you have any questions or opinions on the above topic?

Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com Business Aviation and the Boardroom continues on Page 26

Score: ____ Total Score: ____

BOARDROOM LETTERS Dear AvBuyer, Do you have any opinion on the tax deductibility of the prepaid maintenance payments? Can they be deducted as paid? Should they be recorded as a prepaid expense and written off when the work is done?

Regards, John Hills

Dear AvBuyer,

Dear Mr. Hills, Having consulted our aviation tax specialist writers with your questions, it appears that there are new tax regulations that address these issues in depth. To supply a definitive answer to the above questions will require some research, the fruit of which will form the basis for an article in this section in the coming months.

We appreciate your getting in touch.

Best Regards, Eric Libbey

I wonder if I could obtain digital or file copies of the recent four articles in the June edition of World Aircraft Sales Magazine on Paperless Cockpits and EFBs? I really enjoyed them and would love to share them with a few of my colleagues...

Editor’s Note: If you find a particular article within World Aircraft Sales Magazine helpful and would like to share with colleagues or contacts, we are always willing to supply PDFs of the article, free of charge. Send requests via editorial@avbuyer.com

“Aviation safety is a co-responsibility.

Corporate leaders establish the goal (Best Practices or better?) and commit the authority and funding to achieve that goal’.”

Sincerely, Jack Olcott Editor – Business Aviation and the Boardroom

24

WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

Aircraft Index see Page 4

Charlie Bravo July_Layout 1 23/06/2014 14:24 Page 1

BG3 July14_FinanceSept 24/06/2014 10:20 Page 1

BUSINESS AVIATION AND THE BOARDROOM

The Continuing Theme...

It’s a great big world out there.

Jay Mesinger is the CEO and Founder of Mesinger Jet Sales.

Jay serves on the Jet Aviation Customer and Airbus Corporate Jets Business Aviation Advisory Boards and was a Member of the Board of the National Business Aviation Association (NBAA), and the Chairman of the Associate Member Advisory Council (AMAC). Contact him via Jay@jetsales.com.

Having recently attended significant conferences and exhibitions in Asia and Europe, Jay Mesinger reflects on the growing need for subject-matter experts in facilitating Business Aviation transactions throughout the global economy. ews emanating from trade shows in Asia and Europe reflect a growing awareness of Business Aviation as an effective form of transportation for companies and entrepreneurs seeking to capitalize on global opportunities. In general, the aviation community exhibits an optimistic attitude and growing enthusiasm for business aircraft and the benefits they provide for companies engaged in international commerce.

Newly designed and certified aircraft were introduced during the Asian Business Aviation Conference and Exhibition (ABACE), held in Shanghai, and at the European Business Aviation Convention and Exhibition (EBACE), held in Geneva. Attendees at each event found the same positive outlook from all sectors of the Business Aviation community, including operators and users of business aircraft, manufacturers of airframes and engines, avionics companies and service providers. All the participants in the broad aviation community felt the rush of a recovery.

The growing enthusiasm for global Business Aviation was apparent in the significant attendance at the EBACE International Transaction Conference that takes place each year the day before the European show opens. Paid attendance for this event has grown by 100% over the last five years, and this year’s program was presented to a full house. I had the pleasure of speaking on the pricing and sales trends taking place globally, a topic that opened the event and dovetailed nicely into the rest of the full day’s topics.

N “Attendees at each event found the same positive outlook from all sectors of the Business Aviation community...”

U

continued on page 32

26

WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

Aircraft Index see Page 4

Tempus July_Layout 1 24/06/2014 11:40 Page 1

E Exceptional xceptional P Pre-Owned ree-O Owned O Air Aircraft craft F For or SSale ale 1998 Dassault Falcon 50 EX Serial Number: 274

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Project1_Layout 1 26/06/2014 15:24 Page 1

Project1_Layout 1 26/06/2014 15:26 Page 1

O'Gara July 24/06/2014 17:49 Page 1

O'Gara July 24/06/2014 17:49 Page 2

BG3 July14_FinanceSept 24/06/2014 10:21 Page 2

What the Boardroom needs to know about Business Aviation INTERNATIONAL COMPLEXITIES ADDRESSED Presenters consisted of global providers of all types of collateral services needed to construct solutions for international transactions and operations. Each presenter addressed the layers of complexity involved to purchase, operate and sell a business aircraft. For example, it would be desirable if there was one taxing authority globally as well as one regulatory authority globally, but I assure you there is not and I cannot imagine there ever will be.

What does this complexity mean? It means that before anyone reading this article contemplates buying, operating or selling a business aircraft, it is imperative that they build a trusted team to provide expert intelligence related to the transaction.

In the early days of my career when the most I had to consider was working within three time zones and deciding which Flight Standards District Office of the FAA was the correct group to call to get simple registration questions answered, life seemed so simple. Today, I am dealing with all time zones globally, and I need a road map to understand which regulatory authority to contact.

Conferences such as the one where I spoke in Geneva continue to remind me of the high value anyone seriously interested in Business Aviation can gain from these events. While regulatory and tax issues are ever-present and somewhat demanding, we operate in a “people world”. It is knowledgeable people who can guide us through the tax and regulatory morass.

If for a minute you think it is possible to sketch out an operational and tax plan alone or from your office on one side of the world for transactions on the other side of the world, you would be making a serious mistake. The true value of attending international trade events comes from the people we can meet, the intelligence we can gather and the perspectives we can bring home to our local clients.

Watch for international seminars, read publications like this one, keep your eyes and ears open for ways to grow your relationships, and strengthen your resources.

PERSONAL OBSERVATION Of course it is always nice to meet a new client or see a new product, but to me the real value of international forums and seminars are the resources we can amass and the relationships we can cultivate.

The line-up of presenters at this year’s EBACE International Transaction Conference included tax lawyers, international registry experts and financing companies that specialize in global operations and registrations. There were experts in the international charter world and international management arena.

Aside from the topic of taxes, these internationallybased attorneys spoke about registration and operational complexities.

One presenter I found particularly topical was an aviation attorney from Russia. I was in the middle of preparing an aircraft for closing that we were purchasing from a Russian seller. The attorney’s presentation reminded me of the critical importance of checking the Specially Designated Nationals List

32

WORLD AIRCRAFT SALES MAGAZINE – July 2014

(SDN). This is published by OFAC (Office of Foreign Assets Control). Given the relevance of the sanctions imposed as a result of the Crimea conflict, a current check of this list could yield information that might have made the sale stumble. Good news, our seller was not on the list so we were not impacted. But this scenario is just another complexity to be understood with today’s scope of international transactions.

Bottom line: Embrace this great big world, enjoy the access, and work as a good neighbor to grow global understanding and acceptance of business aircraft. Stay focused on the importance of Business Aviation and seek the services of knowledgeable professionals who are well versed in the integrities of international transactions and operations.

Do you have any questions or opinions on the above topic?

Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com Business Aviation and the Boardroom continues on Page 38

www.AvBuyer.com

Aircraft Index see Page 4

2001 Falcon 900C SN 191 3100 hours with recent major inspections.

This 900C factors nicely in your value equation.

If you’re looking for the newest, lowest time Falcon 900 that also meets your capital budget, the right answer may very well be the Falcon 900C. Pairing the international range and large cabin size of a 900B with the 900EX Primus 2000 cockpit, the Falcon 900C presents a true value opportunity.

2001 SN 191 delivers this value without compromise. It is an exceptional aircraft with one corporate owner and just 3100 hours.

Plus, SN 191 recently completed its 2C (6 year) inspection and landing gear overhaul! It has no damage history and is covered under MSP engine as well as avionics maintenance programs.

This aircraft offers a spacious, open cabin with seating for 12 passengers, including 4 club seats forward and aft, with a 4-place conference group in the middle. SN 191 is well appointed and is in exceptional condition.

To learn how Falcon 900C SN 191 can factor into your value equation, call Jim Donath at Donath Aircraft Services.

Donath Aircraft Services 773.935.9871 jimdonath@donathaircraft.com Visit DonathAircraft.com

New Price Reduction! Now $11,495,000!

Avjet multi July_Layout 1 25/06/2014 10:17 Page 1

EXCLUSIVELY OFFERED BY AVJET CORPORATION

AIRCRAFT FOR SALE

2005 G550 S/N 5065

2006 G450 S/N 4050

1989 GIV S/N 1120

2012 Bell 429 S/N 57101

1989 Challenger 601-3A S/N 5045

2001 BBJ S/N 32774

+1 (410) 626-6162 | sales@avjet.com | avjet.com

Avjet multi July_Layout 1 25/06/2014 10:18 Page 2

EXCLUSIVELY OFFERED BY AVJET CORPORATION

AIRCRAFT FOR SALE

2010 Lineage S/N 19000261

1999 BBJ S/N 30751

2002 Learjet 60 S/N 245

1988 GIV S/N 1076

2003 GEX S/N 9116

1982 WW II S/N 361

+1 (410) 626-6162 | sales@avjet.com | avjet.com

JetBrokers July 23/06/2014 14:31 Page 1

2008 Gulfstream G200, S/N 212, 1158 TT, Airshow 410, Iridium SATCOM, Warranty until 12/24/14, Premium Interior, Asking $10,500,000.00

2008 Citation XLS, S/N 560XL-5788, 2379 TT, EU-Ops, SSFDR, Dual UNS-1Esp Steep Approach, Iridium Phone, Asking $5,500,000.00

2001 Gulfstream G100, S/N 139, 3750.5 TT, On MSP Gold, APU on MSP, Dual UNS-1C, TCAS II, Asking $3,295,000.00

2000 Citation Bravo, S/N 550B-0935, 4548 TT, On Power Adv, Pro Parts, TCAS II, Mk-VII EGPWS, EU-Ops, Phase 1-5 c/w 11/12, Asking $1,950,000.00

1989 Astra, S/N 30, 10,223 TT, MSP, TCAS II, Astra SP Prototype with ALL SP Mods, L/R Oxygen, Being Sold AS IS!, Price Reduced to $795,000.00

1999 Citation Bravo, S/N 550B-0871, 1890 TT, Garmin GTN750/650, TCAS 2, New Paint & Interior, Current 135, Available for Three-year Lease!

2010 King Air 350i, S/N FL-689, 646 TT, ESIS, Collins Venue, AirCell Axxess Satcom, TCAS 2, Nine Passenger, Asking $4,995,000.00

1993 Citation V, S/N 560-0232, 9686.6 TT, 2232.6/2595.6 SMOH, 780.6 TSHS, TCAS II, Freon Air, Single Point Refueling, Fresh Phase 1-5, Asking $1,395,000.00

Also Available Citation CJ2, S/N 525A-0016

Citation V, S/N 560-0014

Sabreliner 65, S/N 465-45

Citation II, S/N 550-0216

Falcon 2000, S/N 8

Socata TBM700B, S/N 193

Falcon 10, S/N 54

JetBrokers July 23/06/2014 14:32 Page 2

2010 Learjet 60XR, S/N 378, 1730 TT, Engines on ESP Gold, Pro-Line 21, IFIS, APU, On CAMP, Iridium Phone, Asking $6,495,000.00

2003 Challenger 604, S/N 5573, 4932.4 TT, Engines on OnPoint, Triple IRS, Autothrottle, HUD, Swift Broadband, 10 Pax, Asking $7,795,000.00

2005 Learjet 60SE, S/N 289, 2203 TT, ESP Gold, 8.33/FM Immunity, UNS-1E, Enh Mode S, On CAMP, Asking $3,500,000.00

2010 Hawker 400XP, S/N RK-599, 875.6 TT, On Support Plus paid thru April 2015, L3 FDR, HF, Like New!, Asking $3,495,000.00

2004 Learjet 60, S/N 276, 2194 TT, Engines on ESP, UNS-1E, FDR, Eight Place Interior, on CAMP, Asking $3,300,000.00

1992 Beechjet 400A, S/N RK-48, 5375.4 TT, 1825.0 SMOH, 41.4 TSHS, On JSSI Select, TCAS 2, AMS5000 w/ dual GPS, New Style Interior, Asking $1,050,000.00

1993 Learjet 31A, S/N 65, 6967 TT, Engines on JSSI Plus, TCAS 2, UNS1C, TRs, Big Door, Single Point Refueling, 12 Yr due 5/17, Asking $950,000.00

1978 Hawker 700A, S/N NA231, 13072 TT, MSP on -3D Engines, Landing Gear O/Hed in 2012, 48 Month c/w 6/12, TCAS 2, XM Wx, Asking $495,000.00

ST. LOUIS +1-636-532-6900 Phone

CHICAGO

DETROIT

DENVER

LONDON

+1-630-377-6900 Phone

+1-248-666-9800 Phone

+1-303-494-6900 Phone

+44 (0)1252 52 62 72 Phone

Email: jetbroker@jetbrokers.com

Web: www.jetbrokers.com

BG 4 July14_FinanceSept 24/06/2014 15:00 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Developing Aviation Managers: A key element in Board governance.

David Wyndham is co-owner and President of Conklin & de Decker where the focus of his activities is on aircraft cost and performance analyses, fleet planning, and life cycle costing for clients. Mr. Wyndham can be contacted at david@conklindd.com

Flight department managers need professional development just as pilots require recurrent training, and it is a Board responsibility to provide for such education, advises David Wyndham.

P

art of ensuring that the aviation department is efficiently managed and well run is professional development of employees. Just as the pilots and aviation maintenance technicians get regular technical training, the aviation managers need management training.

Typically, flight departments are managed by pilots or mechanics who have been elevated to management by the skills they demonstrated in the cockpit or in the hangar. Often these high achievers struggle acquiring skills needed to lead personnel, develop budgets and handle other tasks of basic management.

For example, in addition to the overall arena of leadership, two areas that often need reinforcement and continuing education are communications and finance, especially budgeting and financial management. The cognitive sciences are constantly expanding our knowledge of how humans think, how we behave in groups, and how to communicate effectively.

Acquiring effective verbal and written skills requires education and practice.

Financial management always seems to be a weak spot in aviation. Budgeting is seen more as a painful but necessary experience, much like a vaccination.

Increasing awareness of the costs of aviation clearly requires a better understanding of cost management.

EDUCATIONAL OPPORTUNITIES Fortunately, there are many options available for the busy aviation professional. The Business Aviation community has a customized program geared to develop aviation professionals into management professionals: the National Business Aviation Association’s Certified Aviation Manager (CAM) program.

The NBAA CAM is an education plan and certification process that awards credit for professional experience, college courses and professional development seminars offered within the aviation community.

The CAM program is a rigorous path to certification that is designed to maximize a busy aviation U continued on page 42

38

WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

Aircraft Index see Page 4

Elliott Aviation July_Layout 1 23/06/2014 14:37 Page 1

Project1_Layout 1 26/06/2014 15:28 Page 1

Project1_Layout 1 26/06/2014 15:29 Page 1

BG 4 July14_FinanceSept 24/06/2014 15:52 Page 2

What the Boardroom needs to know about Business Aviation professional's time in developing the skills needed to be a manager and leader.

The Corporate Aviation Management Certificate Program (CAMC) by Embry-Riddle Aeronautical University educates aviation professionals with the skill set to effectively manage aviation departments in accordance with accepted business practices and corporate policies. The CAMC is an approved adjunct to the National Business Aviation Association (NBAA) Professional Development Program (PDP) for corporate aviation professionals. These Embry-Riddle courses also count toward the continuing education requirements for an annual review of the NBAA's CAM certification.

The NBAA, in partnership with several educational institutions and professional organizations, has project Bootstrap designed specifically for aviation maintenance technicians. For those with but a day to spare, the NBAA also teaches short seminars during its annual Business Aviation Convention & Exhibition.

Another trade association, the Helicopter Association International (HAI), also offers numerous safety, management and technical courses taught in conjunction with the Heli-Expo annual meeting and convention.

Busy professionals have many options for obtaining aviation management education at locations throughout the US. Some schools offer in-depth focused courses, such as various on-line and resident programs taught by the University of Virginia Darden School of Business. Darden covers topics such as Aircraft Management and Aircraft Ownership, Career and Leadership Development, and Safety and Risk Management. (http://nbaa.peachnewmedia.com/store/provider/provider09.php)

AVIATION MANAGEMENT DEGREES The above-mentioned Embry-Riddle Aeronautical University has numerous degree programs for aviation professionals aspiring to be flight department managers. Many are taught through distance learning using web-based classrooms and online training resources.

Universities with aviation-specific programs are too numerous to mention here. A good reference, however, is the University Aviation Association (UAA), which has 105 accredited universities and colleges as its members. These colleges and universities offer degree-granting aviation programs along with traditional business-related degrees.

For those looking beyond the certificate programs, schools such as the University of Pennsylvania’s Wharton School, Harvard, Duke, Berkeley, and the Northwest’s Kellogg School of Management offer degrees in Leadership Development in addition and business-related degrees. Some of these schools also offer intensive week-long (or similar) seminars focusing on single topics, such as Leadership.

Other Professional Development Programs, seminars and on-demand education such as webinars are taught by local universities and community colleges.

The advantage of community colleges is that they likely have applicable courses for the working

42

WORLD AIRCRAFT SALES MAGAZINE – July 2014

professional. Community colleges are also an excellent first step towards a four-year degree.

There are professional educators who teach soft skills like leadership with a specific aviation tilt. One such person is Dr. Shari Frisinger (http://www.cornerstonestrategiesllc.com/about/ about-shari-frisinger/). Shari’s Doctor in Executive

Leadership provides in-depth analysis and concentrated research into Emotional Intelligence and managing change and conflict. Her program is typical of the professional development that is being aimed directly at the aviation department.

Whether it is through continuing education, refreshers or post-graduate work, aviation professionals need to learn more than just technical skills within aviation. Acquiring management skills benefit both the corporation and the individual.

As Board Members and Executives, you need to encourage personal development for flight department personnel, just as the company does for middle managers seeking career advancement.

“Acquiring management skills benefit both the corporation and the individual.”

Do you have any questions or opinions on the above topic?

Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com Business Aviation and the Boardroom continues on Page 50

www.AvBuyer.com

Aircraft Index see Page 4

1 Freestream x2 aircraft July 25/06/2014 17:34 Page 1

FREESTREAM AIRCRAFT LIMITED SALES & ACQUISITIONS

Boeing BBJ/28579

Boeing BBJ/29273

Boeing BBJ/30076 Boeing BBJ S/N: 36714. Reg: VP-BFT

• Make Offer • Into Service 2009 • 18 Passenger - Andrew Winch Interior Design • Full Factory Warranties

Boeing BBJ/36714 • Very Low Hours • PATS 6 tank Configuration (5 aft, 1 fwd) • Aft state room with private lavatory and shower • Airshow Network • Five external cameras

Global XRS/9195

Gulfstream G550/5025

Gulfstream G450 2Q 2012

Gulfstream GV/512

Boeing BBJ S/N: 29273. Reg: VP-BBJ • Make Offer • Total Time: 3743 hours / Landings: 917 • One Owner Since New • One of the Lowest Time BBJ's on the Market Hawker 850XP/258812

• One of Two Longest Range BBJ's Flying • PATS 9-Tank Configuration • SFR88 Modification • 18 Passenger Interior Hawker 850XP/258812

FREESTREAM AIRCRAFT LIMITED

FREESTREAM AIRCRAFT USA LTD

FREESTREAM AIRCRAFT (BERMUDA) LIMITED

London +44 207.584.3800 sales@freestream.com

New York 201.365.6080 aircraftsales@freestream.com

Hamilton, Bermuda +441.505.1062 sales@freestreambermuda.bm

NEW YORK | LAS VEGAS | LONDON | HONG KONG | BEIJING | MEXICO | MOSCOW | BERMUDA

www.freestream.com

2 Freestream July 25/06/2014 17:35 Page 1

FREESTREAM AIRCRAFT LIMITED SALES & ACQUISITIONS 1996 Gulfstream GIVSP S/N: 1283 • Total Time: 9842 hrs • Landings: 4220 • APU on MSP • Honeywell Avionics covered through Honeywell HAPP • MSG-3 Maintenance Program with CMP

Boeing BBJ/28579

• No Damage History Boeing BBJ/29273 • Collins SAT-906 SATCOM • Secure-A-Plane • 13 Passenger Interior

2005 Falcon F2000EX EASy S/N: 056. Reg: N056BL • Total Time: 2703 • Total Landings: 2010 • APU: P-357 Type:BBJ/30076 Garrett GTCP36-150(F2M) (On MSP) Boeing

Boeing BBJ/36714

• CAMP/OCIP • ‘C’ Check, SB171 Dry Bay Mod, SB185 L/G Dampening, August 2011 • Seating: 10 passenger; 4 forward club seats

2003 Global Express S/N: 9129. Reg: N725LB

Global XRS/9195

• Total Time: 3,271.9 Gulfstream G550/5025 • Total Landings: 1520 • APU: Allied Signal RE220 Auxiliary Power Unit • LCD Displays • Batch 3 Installed, & Numerous Other Upgrades • JAR OPS 1 and Part 135 Compliant • Primarily Maintained at Bombardier – Hartford • FANS 1/A+, RNP 4 30/30, SBAS with LPV capability

GlobalGulfstream XRS S/N: 9195.

N4T G450 2QReg: 2012

Gulfstream GV/512

• US$25,950,000 • Total Time: 3401 hours / Landings: 1116 • On CAMP • Engines on Condition • Second GPS (Honeywell GPS550) • Bombardier Enhanced Vision System (BEVS) / HUD • FDR Upgrade •13 Passenger Hawker 850XP/258812

Hawker 850XP/258812

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3 Freestream May 25/06/2014 17:43 Page 1

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Project1_Layout 1 26/06/2014 15:31 Page 1

Project1_Layout 1 26/06/2014 15:32 Page 1

South Carolina (CAE) • 803.822.4114 Colorado (GJT) • 970.243.9192 Texas • 214.904.9800 Aircraft Sales & Acquisitions

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BG 5 July14_FinanceSept 24/06/2014 15:10 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Aviation Workers’ Compensation Stuart Hope is a co-owner of Hope Aviation Insurance. His career as an aviation insurance broker began in 1979, and today he is a frequent speaker/author on insurance & risk management topics. He also serves on the NBAA Tax, Insurance and Risk Management Committee. Mr. Hope can be contacted at shope@hopeaviation.com

Strategies for overcoming the challenges.

Many insurers of workers’ compensation decline to provide coverage for the aviation exposure a company may have, leaving it to fend for itself in finding protection for its pilots, mechanics and flight attendants, warns Stuart Hope.

O

ur insureds routinely receive notification from their workers’ compensation carrier informing them that the company’s aviation exposure will no longer be covered. The insurance carrier may just have discovered our client has an aircraft, or they have decided that aviation is “too risky”.

Regardless of the reason, the client must obtain a standalone workers’ compensation policy specifically for their aviation employees. While there are many insurance companies that provide workers’ compensation for aviators, there are at least five challenges that must be addressed.

50

WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

THE FIVE CHALLENGES 1. Insurers generally do not like to write “unsupported” business. For example, your aircraft is covered by insurer “A”, but insurer A does not have a facility to handle the compensation needs of your aviation workers. Your broker then has to approach other insurance companies that do have the ability to place your aviation workers’ compensation. A number of those companies are unwilling to write the aviation work comp alone without the “support” of writing your aircraft hull and liability insurance. In other words, if they are going to write your workers’ comp coverage, they want to write your aircraft. Fair enough.

2. Since most flight departments have a small number of employees— often only one fulltime pilot—the annual premium for workers’ comp will be fairly small. Many aviation workers’ comp insurers have a minimum premium threshold, below which they simply decline to sell the insurance. They don’t want their book of business peppered with policies covering only one or two employees.

3. Some workers’ comp insurers not only exclude pilots, mechanics and flight attendants but also exclude any employees riding as passengers on the aircraft. This prohibition makes it extremely hard to obtain a standalone policy since the insurer may not know which employees ride as passengers on the U continued on page 52 Aircraft Index see Page 4

General Aviation July_Layout 1 23/06/2014 14:50 Page 1

BG 5 July14_FinanceSept 24/06/2014 10:28 Page 2

What the Boardroom needs to know about Business Aviation

aircraft and therefore what the annual payroll is for calculating the premium. In this situation, it’s probably easier to move the entire workers’ comp account to another insurer rather than try to find a standalone policy.

4. If the aircraft owner or an executive of the company is a pilot and flies the aircraft, this scenario also can be cause for declination by workers’ comp insurers writing standalone policies. Like aircraft hull and liability insurers, carriers perceive these operations as higher risk, under the assumption these pilots have much more on their mind compared with professional pilots whose only job is to fly the aircraft.

5. Even if the aircraft owner’s company is insured with a workers’ comp carrier that will cover the aviation risk, many owners who use pilots serving as independent contractors make a mistake by sending them 1099s (i.e. reporting the self-employment earnings) but failing to require the pilot to have their own workers’ comp coverage. Without such proof the owner’s workers’ comp insurer will automatically pick up the amount paid in 1099s on audit and bill the insured retroactively for the premium as if the

pilot were an employee. This can be a rather unpleasant financial surprise.

YOUR BEST ANGLE OF ATTACK If you receive THE call from your workers’ compensation insurer, you should employ several strategies.

First, ask the carrier if they mind losing your entire workers’ compensation account if you can find another market that is willing to write the coverage, including the aviation exposure. Get started early so your aviation insurance broker has time to shop the market. Consider moving your aircraft hull and liability policy to an insurer that will write your aviation workers’ comp.

If you employ independent contractor pilots, be sure to have them provide a certificate of insurance proving that they have their own comp insurance. As always, your best resource is your aviation insurance broker. Lean on that support for help.

“...ask the carrier if they mind losing your entire workers’ compensation account if you can find another market that is willing to write the coverage, including the aviation exposure.”

Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine.

Email feedback to: Jack@avbuyer.com Business Aviation and the Boardroom continues on Page 54

COMPARE AIRCRAFT FOR SALE USING OUR

Aircraft Comparative Facility at www.AvBuyer.com

Whilst selecting from the World’s finest Business Jets, Turboprops and Turbine Helicopters for sale

52

WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Aircraft Index see Page 4

IAG June FP_Layout 1 19/05/2014 14:37 Page 1

Contact: Cass Anderson or Jeff Habib Tel: +1 212 888 7979 B6C=6II6C H:6IIA: H>A>8DC K6AA:N

Email: info@iagjets.com

Challenger 300 s/n: 20059 20052005 Challenger 300 s/n: 20059

Fresh 96 Month Inspection, Landing Gear Overhaul (Completed in December 2013 at Bombardier Tucson): s One US Owner Since New s 9 Seat Interior with Divan s GoGo Biz High Speed Data s Iridium SATCOM s Currently Operated Commercially in Accordance with FAR Part 135 Regulations s Extended Overwater Equipment s Enrolled on SmartParts Low Utilization Program s Turn Key Option - Keep Aircraft with Existing Management Company and Charter Certificate s No Known Damage

Fresh 96 Month Inspection, Landing Gear Inspection, New Combustion Liners (Completed in December 2013 at Bombardier Tucson): • One US Owner Since New • 9 Seat Interior with Divan • GoGo Biz High Speed Data • Iridium SATCOM

• Extended Overwater Equipment • Currently Operated Commercially in Accordance with FAR Part 135 Regulations 2004 Falcon 2000EX s/n: 025 • Enrolled on SmartParts Low Utilization Program Highest Serial Number Falcon 2000EX • Turn Key Option - Keep Aircraft with Currently Existing For Sale: s Unmatched Pedigree - One OwnerCertificate Since New Management Company andUS Charter s Engines / APU on ESP Gold • No Known Damage s AvTrak Maintenance s 10 Passenger Seating w/Jump Seat s TT-5000 HSD+/Swift 64 SATCOM s Airshow 400 Cabin Display s Baker CD/DVD Player s 88 Parameter SSDFDR s FAR Part 135 Material Burn Cert./Swatches s No Known Damage

2004 Falcon 2000EX s/n: 025

2001 Falcon 900C s/n: 189 Exclusive Falcon 900C Lease opportunity:

Highest Serial Number Falcon 2000EX Currently For Sale: • Unmatched Pedigree - One US Owner Since New • Engines / APU on ESP Gold • AvTrak Maintenance • 10 Passenger Seating w/Jump Seat

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s Fresh 2C and Landing Gear Overhaul s US Registered s No Damage history s MSP Gold s 18 Passenger Seating 64 SATCOM • TT-5000 HSD+/Swift s AirCell Iridium – Axxess II SATCOM • Airshow 400 Cabin Display s Forward and Aft Lavatories • Baker CD/DVD Player s TT: Cycles:SSDFDR 2122 • 883958 Parameter • FAR Part 135 Material Burn Cert./Swatches • No Known Damage

BG 6 July14_FinanceSept 24/06/2014 10:31 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Business Aircraft Sales Tax Planning: Sales and use tax considerations.

Chris Younger is a partner at GKG Law, P.C. practicing in the firm’s Business Aircraft Group. He focuses his legal practice on business aircraft transactions as well as issues relating to federal and state taxation and regulation of business aircraft ownership and operations. Mr. Younger can be contacted at cyounger@gkglaw.com

With careful planning, a business aircraft purchaser can substantially reduce or completely eliminate sales and use tax liability on a business aircraft purchase, advises attorney Chris Younger.

primary consideration for the Board of Directors in connection with the acquisition of a business aircraft is understanding and addressing potential sales and use tax liability and, if possible, avoiding or mitigating that expense.

Most deliveries of new and used aircraft occur in states with either no sales tax or an applicable “fly away” exemption, resulting in no sales tax being owed on the aircraft purchase at closing. However, many buyers fail to recognize that a

A

concomitant liability, known as a use tax, may arise with respect to the subsequent storage or other use of a business aircraft in one or more particular states.

The use tax is equal to the sales tax as if the transaction had actually closed in the state that imposes it.

Since the sales and use tax rate in most states is in excess of 5% of the purchase price, this liability may exceed $1,000,000 without proper planning.

Companies often do not engage in any sales and use tax planning prior to their acquisition of a business aircraft and unwittingly end up with a large liability for sales or use tax that they cannot

continued on page 56

54

WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Aircraft Index see Page 4

U

Corporate Concepts 1xFP July 25/06/2014 17:15 Page 1

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BG 6 July14_FinanceSept 24/06/2014 10:34 Page 2

What the Boardroom needs to know about Business Aviation subsequently unwind. This article will identify some important sales and use tax planning issues that a Board should consider.

States thoroughly and carefully scrutinize opportunities to apply their sales and use tax to aircraft based - or even temporarily stored - within their borders.

For example, California and Texas send out notification to all aircraft owners requiring proof of payment of sales or use tax or, if any exemption from the tax is claimed, requesting documentation that adequately supports the application of the claimed exemption.

The Board must ensure that a company is prepared for such an inquiry before the company acquires a business aircraft.

Additionally, the Board must understand that strategies for sales and use tax mitigation or avoidance are difficult to administer, overly time-consuming and sometimes confusing. States often insist that qualifying for a particular exemption from aviation sales or use tax requires the taxpayer to follow exactly each intricate step involved in such compliance precisely, and in a particular order. For example, in Florida and New York, the process may involve having certain items, such as dry leases or retail sales registrations, in place prior to the acquisition of the property in question.

In many instances, it is impossible to know what a state requires without having previously encountered and engaged in the process designed by that state.

ATTENTION TO DETAIL Setting up an internal dry lease between related parties (i.e. a sale for resale transaction) is a common planning technique. However, there are numerous "gotchas" that arise in connection with the use of a leasing structure.

For example, the Texas Comptroller carefully scrutinizes aircraft dry leases between related parties and, absent adequate recordkeeping and supporting documentation, will treat those leases as "sham" transactions, to which the sale-for-resale exemption from Texas sales and use tax is almost automatically denied. Texas, like all states, looks for evidence of an "arm’s-length" transaction between the lessor and the lessee, such as the actual payment of fair market value rent by the lessee to the lessor.

In New York and New Jersey, as in many other states, sales tax on lease rent may be calculated on an "accelerated" basis, meaning that the tax is due at the time of lease signing and is owed up front on all the rent that will accrue during the term of the aircraft lease. Therefore, it is imperative that the Board understand and follow all requirements imposed by a specific state in connection with the use of such a structure.

The Board should avoid cavalier planning, planning that is not based on a specific statutory exemption or procedural structure, or planning that is based on something relied on in a prior aircraft purchase.

Laws and their interpretation by state taxing authorities often change.

Most importantly, avoid planning based on "cocktail party" talk where you hear that "everyone is doing it” this way, or that way. Naturally, all such informal conversation or “common wisdom” reinforces the need for thorough tax planning prior to the purchase of a business aircraft.

Note: This article should not be construed as legal advice or legal opinion on any specific facts or circumstances. The reader is urged to consult legal counsel or other advisors concerning his/her own situation and specific legal questions.

“Laws and their interpretation by state taxing authorities often change.”

Do you have any questions or opinions on the above topic?

Get them answered/published in World Aircraft Sales Magazine. Email feedback to: Jack@avbuyer.com Business Aviation and the Boardroom continues on Page 58

THE WORLD’S LEADING

AIRCRAFT DEALERS & BROKERS find one today 56

WORLD AIRCRAFT SALES MAGAZINE – July 2014

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www.AvBuyer.com Aircraft Index see Page 4

AMJET_WAS_JUNE14_4FINAL_SAC_AUG04_ACF 5/19/14 9:33 AM Page 1

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2008 Gulfstream G200

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SN 184 475 TTSN, 9 Passenger Interior, Like New Condition

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BG 7 July14_FinanceSept 24/06/2014 10:38 Page 1

BUSINESS AVIATION AND THE BOARDROOM

Entry-Level & Light Jets Flexibility at lower cost levels.

“Further, beyond these speed-rangepayload operational basics, the Light jet crew will have the option of far more airports...”

Ultimately, where performance and value reign as dominant factors, remember this: there’s nothing lightweight about the value and flexibility of the Entry-Level and Light Jets. s business jets increase in size from Entry-Level and Light jets to the low end of the Large Cabin models, six to eight seats remains the standard configuration across size-category lines, generally speaking. And while cabins increase in volume generally (enabling more productive workspace for those traveling longer distances), full-fuel payload doesn’t seem to grow proportionally in most cases.

As jets get bigger and heavier their runway needs increase, with no appreciable gain in how many people or equipment can fly – and thus we touch upon the key advantages of the Entry-Level and Light jet category - the value and flexibility offered to those who typically fly shorter legs up to 750 miles.

Fully-fuelled, an Entry-Level/Light jet can often barely carry the typical passenger load of three persons, unless one or two of them doubles as a crew member. Nevertheless, with the average mission length below 750 miles and the nominal maximumrange of Light jets around 1,200 miles, the crew

A

enjoys the option of flying lighter and saving fuel.

Fuelling for the mission with NBAA reserves allows larger cabin loads, making three or four - plus crew - possible.

The time difference between Entry-Level/Light jets and Large jets to fly a typical 750nm mission is small (about 10 to 12 minutes, overall) and is not a large time-saving for costs that may be considerably higher for the larger aircraft. Further, beyond these speed-range-payload operational basics, the Light jet crew will have the option of far more airports, often closer, more convenient and less expensive than what’s needed for the Medium and Large jets.

Thus, it’s hard to escape the heavyweight value of the Entry-Level/Light jet.

WHAT MAKES A “LIGHT” JET? Today we consider a jet “light” when its MTOW falls between 10,000 and 20,000 pounds. About a decade ago the Light segment represented the bottom rung of the business jet ladder… that was before the Entry-Level Jets entered the market, differentiated by weights below almost everything ever built at less than 10,000 pounds.

ENTRY-LEVEL & LIGHT JET PRICE GUIDE The following Entry-Level and Light Jets Retail Price Guide represents current average values published in The Aircraft Bluebook – Price Digest. The study spans a twenty year period, from 1995 through Summer 2014, and covers 30 models.

Values reported are in USD millions, with each reporting point representing the current average retail value published in the Bluebook by its corresponding calendar year. For example, the Cessna Citation CJ3 average value reported in the Summer 2014 edition of Bluebook shows $5.2 million USD for a 2009 model, $5.5 million USD for a 2010 model and so forth.

Note: We have included 30 aircraft models in the following Entry Level & Light Jet average price guide, however, for additional assistance and interest, Conklin & de Decker Performance and Specification data for these Entry Level & Light Jet models can be referred to, beginning on page 74 of this issue.

U

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Aircraft Index see Page 4

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Retail Price Guide July14_RPG 24/06/2014 10:44 Page 1

BUSINESS AVIATION AND THE BOARDROOM

ENTRY-LEVEL & LIGHT JETS AVERAGE RETAIL PRICE GUIDE SUMMER 2014 YEAR OF MANUFACTURE $ MODEL

2014 US$M

2013 US$M

BEECHCRAFT PREMIER 1A

2012 US$M

3.0

2011 US$M

2010 US$M

2.6

2.3

2009 US$M

2008 US$M

2007 US$M

2006 US$M

2.0

1.7

1.6

1.5

BEECHCRAFT PREMIER 1

2005 US$M

1.4

BOMBARDIER LEARJET 45XR

8.5

7.5

6.7

6.1

5.5

4.8

4.5

4.2

4.5

4.2

3.9

3.7

3.4

3.0

3.3

3.0

2.7

5.7

5.4

4.9

4.7

4.5

4.1 3.9

3.7

2.9

2.7

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

7.3

6.2

5.5

4.5

4.2

BOMBARDIER LEARJET 40 BOMBARDIER LEARJET 31A CESSNA CITATION XLS+ 560

12.992

11.0

9.7

9.0

8.2

7.7

CESSNA CITATION XLS 560 CESSNA CITATION ENCORE+ 560

5.0

7.1

CESSNA CITATION V ENCORE 560 CESSNA CITATION EXCEL 560-XL CESSNA CITATION V ULTRA 560 CESSNA CITATION BRAVO 550 CESSNA CITATION CJ4 525C

9.380

9.0

7.5

7.1

6.7

CESSNA CITATION CJ3 525B

8.458

7.1

6.3

5.8

5.5

5.2

4.8

4.6

4.4

4.2

CESSNA CITATION CJ2+ 525A

7.253

6.7

5.9

5.3

4.8

4.5

4.3

4.0

3.5

3.3

3.0

2.9

2.4

2.2

CESSNA CITATION CJ2 525A CESSNA CITATION M2 525

4.671

4.4

CESSNA CITATION CJ1+ 525

3.8

3.3

3.0

2.8

2.6

CESSNA CITATION CJ1 525

1.900

CESSNA CITATIONJET 525 CESSNA CITATION MUSTANG 510

3.465

3.1

2.4

ECLIPSE 500

2.3

2.2

2.1

2.450

EMBRAER PHENOM 300

9.315

EMBRAER PHENOM 100E

4.350

EMBRAER PHENOM 100

2.0

1.9

1.8

0.850

0.800

0.750

2.1

1.9

8.6

8.0

7.6

7.0

6.9

3.7

3.3

3.0

2.7

2.4

2.2

2.6

2.4

2.2

HAWKER 400XP

1.7

HAWKER BEECHJET 400A NEXTANT 400XTI

4.2

3.4

3.2

AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: CARL@JETAPPRAISALS.COM

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Retail Price Guide July14_RPG 24/06/2014 10:44 Page 2

What the Boardroom needs to know about Business Aviation

What your money buys today 2004 US$M

2003 US$M

2002 US$M

2001 US$M

2000 US$M

1999 US$M

1998 US$M

1997 US$M

1996 US$M

1995 US$M

YEAR OF MANUFACTURE $ MODEL BEECHCRAFT PREMIER 1A

1.3

1.2

4.0

3.6

3.7

3.3

1.1

1.0

BEECHCRAFT PREMIER 1 BOMBARDIER LEARJET 45XR

3.0

2.9

2.8

2.7

2.6

BOMBARDIER LEARJET 45 BOMBARDIER LEARJET 40XR

2.4

BOMBARDIER LEARJET 40 1.750

1.650

1.550

1.450

1.350

1.250

1.200

1.150

1.100

BOMBARDIER LEARJET 31A CESSNA CITATION XLS+ 560

4.4

CESSNA CITATION XLS 560 CESSNA CITATION ENCORE+ 560

3.5

3.2

2.9

2.7

2.6

4.0

3.8

3.6

3.3

3.0

2.5

2.3

2.1

2.0

1.9

CESSNA CITATION V ENCORE 560 2.7

2.5

CESSNA CITATION EXCEL 560-XL

1.9

1.8

1.7

1.8

1.7

1.6

1.6

1.5

CESSNA CITATION V ULTRA 560 CESSNA CITATION BRAVO 550 CESSNA CITATION CJ4 525C

4.0

CESSNA CITATION CJ3 525B CESSNA CITATION CJ2+ 525A

2.8

2.7

2.6

2.5

2.4

CESSNA CITATION CJ2 525A CESSNA CITATION M2 525 CESSNA CITATION CJ1+ 525

1.8

1.7

1.6

1.5

1.4

CESSNA CITATION CJ1 525 1.3

1.250

1.2

1.150

1.1

CESSNA CITATIONJET 525 CESSNA CITATION MUSTANG 510 ECLIPSE 500 EMBRAER PHENOM 300 EMBRAER PHENOM 100E EMBRAER PHENOM 100

1.5

HAWKER 400XP 1.350

1.250

1.150

1.050

1.000

0.950

0.900

0.850

0.800

HAWKER BEECHJET 400A NEXTANT 400XT

AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: CARL@JETAPPRAISALS.COM Advertising Enquiries see Page 8

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Flight Dept Mng1 July_Finance 24/06/2014 10:47 Page 1

FLIGHT DEPARTMENT MANAGEMENT SKILLS

High-Trust Leadership & Followership: Who is the very best leader you ever worked for?

by George Dom reat leaders, managers, teammates and followers come in all shapes, sizes and styles. But there is one ingredient they all have in common. The great ones—the ones you remember fondly and would gladly work with again—possess a high level of trustworthiness.

There are two great misconceptions regarding trust:

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

1. Being reasonably honest and technically competent at your job is all that is necessary to be trusted.

2. Trust occurs naturally on teams simply by putting “good people” together.

High performance leaders and teams don’t view trust-building as some sort of warm and fuzzy idea cooked up by Human Resources. Great teams view a high-trust culwww.AvBuyer.com

ture as a non-negotiable core value that is absolutely critical for success. They recruit for trustworthiness, they train to build it, they reward, promote and follow those who have it, and they quickly fire anyone who loses it.

More broadly, trust is the water in which all relationships swim. When the trust is high, the water is clear, the relationship is strong, everyone moves quickly with Aircraft Index see Page 4

Flight Dept Mng1 July_Finance 24/06/2014 10:48 Page 2

confidence and camaraderie. But when there is mistrust, the water darkens and everything is slowed by uncertainty, anxiety, anger and fear.

TRUST MATTERS Why should you care? Because trust is rewarded and the levels of trust have rarely been so low across all dimensions of modern life. Many have lost trust in government, media, business, banking, financial services, religious institutions, etc. Anyone who consciously works to build a reputation of trustworthiness will enjoy a significant professional and personal advantage.

Trust is especially important in aviation because, as the saying goes, it is “unforgiving of any carelessness, incapacity or neglect.”

Flight departments are in the trust business. Period. Everything they do is designed to earn and keep the trust of the people they serve. Imagine the impact if a pilot was not trusted to fly the company jet safely, a maintenance technician was not trusted to comply with airworthiness requirements, or an aviation manager was not trusted to control costs and accurately project future requirements.

Measuring our own trustworthiness is a challenge because trust is dynamic and requires continual attention and investment: • • •

ences there is no compromise when it comes to trust. It must be a non-negotiable core value for mission success and survival. And the lessons that are revealed can be applied to all our relationships – professional and personal – to make them stronger.

My Navy experience taught me there are five interrelated ingredients regarding trustbuilding. All five must be addressed – none can be neglected – and working on one contributes to the other four. For each element of trust there is a question your team, your boss, your partners and even your family members are asking about you consciously or unconsciously. Depending on the answers, they decide how much they will trust you.

The five components of trustworthiness are: character, commitment, competence, connection and communication.

• Character – Do you walk your talk?

• Commitment – Will you be there when times are rough?

• Competence – Are you skilled and relevant?

• Connection – Do they believe you understand them?

• Communication – Do they understand you?

You may be trusted today, but not tomorrow.

You may be trusted by some colleagues, but not others.

You may be trusted in some areas, but not all areas.

Over the forthcoming issues of World Aircraft Sales Magazine, we will cover each component and discuss how you can raise the level of trust in your team and all your relationships.

❯ Captain George Dom, USN(Ret) is president and founder of NFS Advisors, an aviation consultancy that exclusively represents buyers of business jets and aviation services. During his military career, he served as Commander, Carrier Air Wing Seven; flight leader of the U.S. Navy Flight Demonstration Squadron—the Blue Angels - and instructor pilot at the Navy Fighter Weapons School (“Topgun”). A nationally-known speaker on leadership and teamwork, including NBAA Leadership, International Operators, and Flight Attendants/Flight Engineers conferences, he can be reached at gdom@NFSjets.com or www.NFSjets.com.

❯ Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to Jack@avbuyer.com

CULTIVATE AND NURTURE TRUST RELATIONSHIPS THROUGH THE ‘FIVE Cs’.

Too often we misjudge our trustworthiness by measuring it based on the people who trust us the most. “John trusts me, therefore I’m trustworthy. Bob doesn’t trust me – he must have trust issues.”

What we believe about our own trustworthiness may be interesting, but it is not sufficient. What matters is what others think.

Trust is a gift that must be regularly earned – it can’t be bought, demanded, expected or coerced.

EARNING TRUST How can trust be achieved? What are the ingredients required to become highly trusted? Sometimes the best place to look for answers and insights is to examine extreme circumstances for universal principles.

My 26-year career flying Navy strikefighters off and on aircraft carriers, in combat, intense Topgun flight training, and highspeed/low-altitude Blue Angels flight demonstrations provided a living laboratory regarding building and preserving a high level of trust. In these life-and-death experiAdvertising Enquiries see Page 8

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Flight Dept Mng2 July_Finance 24/06/2014 10:53 Page 1

FLIGHT DEPARTMENT MANAGEMENT SKILLS

Five Steps to Communicate the Value of Aviation Certification basics for Business Aviation managers.

by Walter Kraujalis he aviation professional must understand and be able to communicate the value of Business Aviation by interacting with key people about aviation capabilities that help the company achieve its goals. The focus of senior management is upon the company’s business goals, and they may not be aware of the possibilities that private aviation offers.

•

STEP 1 – AWARENESS

•

Be aware of and understand Business Aviation capabilities. According to the National Business Aviation Association (NBAA) ‘No Plane No Gain’ advocacy program, private air travel provides:

•

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

•

Flexibility in schedule. In today’s business environment, companies need to be nimble and move quickly.

Increased employee productivity and security. Traveling aboard business aircraft provides space and privacy to meet, plan and work enroute. Employees can discuss proprietary information in a secure environment without fear of eavesdropping, industrial espionage or physical threat.

Contact with colleagues en-route.

Telephone and internet capabilities onboard business aircraft are far superior and more secure than what is typically available on airliners.

Access to destinations with little or no www.AvBuyer.com

•

•

•

airline service. Private aviation can access 5,000 airports in the United States compared to 500 airports with Airline service.

Schedule predictability. More than three percent of all Scheduled Airline flights are cancelled, and twenty-five percent are delayed. Business Aviation has a better than 95 percent probability of meeting its schedule.

Less time required to reach multiple destinations. In one day a company executive can go to several destinations that would take two or three days to do

by Airline.

Support of company employees. Sales teams can quickly meet prospects or Aircraft Index see Page 4

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FLIGHT DEPARTMENT MANAGEMENT SKILLS

•

customers face-to-face. An engineering teams can be on the scene quickly to resolve a problem.

Greater return to shareholders. Studies show that businesses with their own air transportation solution provide better returns to shareholders within their industry.

STEP 2 – ANALYZE Analyze Business Aviation benefits that will improve the way your company currently operates. Are there areas within the company that can take advantage of the capabilities business aircraft provide? Are there company divisions or departments that could excel with the feature of getting to multiple destinations in one day or just a few days, at their own pace and schedule? Are there remote market areas that are under-serviced because they are difficult to reach? List all the mission possibilities.

With each new mission possibility, determine the destinations and frequency of flights using a business aircraft. This analysis provides you with an estimated number of annual flight hours to accomplish each mission.

There are several delivery systems available for accessing private air travel.

These include air charter, jet card programs, fractional aircraft ownership, or whole aircraft ownership. Each platform has its strengths in service and unique costs. Take each of the new possible missions identified and determine the ability of each platform to accomplish the mission.

Tally the estimated annual costs for each.

STEP 3 – APPLY Determine how this mission analysis applies to your company. For each new mission possibility identified, determine the costs associated with the current travel mode, such as the Scheduled Airlines, that your company employs. Be sure to include the cost of the extra time it takes each employee to travel by Airline. If a new mission opportunity you identified is not currently being accomplished, determine the cost of the lost opportunity (i.e. the loss of possible increased sales and profit).

Take these cost numbers and compare them to the cost and profit possibilities associated with each new mission using Business Aviation. Be sure to consider the value derived from time saved. You may be pleasantly surprised with what you see.

Very often the Business Aviation option can be conducted at less cost or will provide a better profit margin.

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

STEP 4 – ADVOCATE Communicate to those within your company who are responsible for overseeing profitability—they need to know the benefits of Business Aviation. Present your analysis in a manner and time aligned with the characteristics of the intended audience. Depending upon who will be receiving your message, a formal presentation with PowerPoint slides might be necessary or a casual conversation might be more effective.

Consider how the information should be presented within the corporate structure.

Solicit advice from your immediate supervisor. Depending upon the company culture, it may be advantageous to win the CFO or department head over to your side early, or perhaps go to top management first.

Keep your focus on the additional profits and cost savings made possible via Business Aviation. Properly managed, a company aircraft is a tool that increases mobility and personnel efficiency.

STEP 5 – AGAIN… Complete a Business Aviation analysis every year. Your study should not be a one-time occurrence. Companies change, as do their business needs. Management changes.

Market areas change. What is effective today may not be appropriate for tomorrow.

❯ Walter Kraujalis is

president of AeronomX LLC, an aviation consulting firm providing advice in business jet and helicopter acquisitions, travel analysis, ownership structure, aircraft management, aircraft appraisals, flight department start-ups, operational safety audits, safety engineering, loss control procedures, and IS-BAO audits. He is also an IBAC Approved IS-BAO Auditor and president, National Jet Sales, a service of National Aero LLC. Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to Jack@avbuyer.com ■

You may be pleasantly surprised with what you see. Very often the Business Aviation option can be conducted at less cost or will provide a better profit margin. www.AvBuyer.com

Aircraft Index see Page 4

J Hopkinson 1 July 23/06/2014 14:59 Page 1

Tel: (403) 291 9027 Fax: (403) 637 2153 sales@hopkinsonassociates.com www.hopkinsonassociates.com

follow us on twitter@HopkinsonAssoc

Global XRS 1854 AFTT, JSSI Platinum – 100%, Inmarsat Aero-H+, CES Version 7.0, Second-Generation Enhanced Vision System. Longer Range Aircraft with double crew rest will benefit those wishing to use the aircrafts maximum range potential

Gulfstream G150 698 AFTT, Long Range Oxygen Bottle, Part 135 Certification, 7 Passenger, New Paint & Interior soft-goods in 2012

Gulfstream Astra SP 7097 AFTT, Engines on MSP, TCAS II, EGPWS, GNS XLS FMS, RVSM and VIP Configuration with 6 pax

Falcon 50 13,502 hrs, Engines on MSP Gold, Collins Pro-Line 4, Dual Honeywell Laser Ref III, Magnastar Airphone C-2000, Airshow 400, MGTW Increase, 8 Passenger Seating

King Air 350i 599 AFTT, Rockwell Collins Pro Line 21/FGC 3000, CVR, TCAS II, TAWS+, Air Conditioning, and Eight Heated Cabin Chairs

John Hopkinson & Associates Ltd. 1441 Aviation Park NE, 2nd Floor, Box 560, Calgary, Alberta, T2E 8M7

AirCompAnalysisJULY14_ACAn 23/06/2014 15:30 Page 1

AIRCRAFT COMPARATIVE ANALYSIS CESSNA CITATION MUSTANG

PHENOM 100

CESSNA CITATION MUSTANG

Cessna Citation Mustang

by Michael Chase n this month’s Aircraft Comparative Analysis, we provide information on the Cessna Citation Mustang, an Entry Level jet. We’ll consider some of the productivity parameters - including payload, range, speed and cabin size, along with current market value. The field of study also includes Embraer’s Phenom 100.

I

CHART A – MARKET SHARE (MAY 2014) Total 748 Aircraft

26% 40.0%

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

44.0%

60.0%

BRIEF HISTORY The Citation Mustang is even smaller and lighter than Cessna’s first-ever corporate jet built in 1971, the Citation 500. The Citation 500 was developed to be the first affordable, Entry Level executive jet and was marketed to compete directly with the Beech King Air. Fast-forward to today, Textron Aviation now owns both the Cessna Mustang and the Beechcraft King Air. The Citation Mustang (Model 510) was first announced in 2002, and was introduced to compete with the new breed of in-development Very Light Jet (VLJ) from Adam Aircraft, Eclipse Aviation, Embraer and Piper (among others). First flight of the Mustang occurred in April 2005, FAA Type Certification was

Total 1,019 Aircraft

30.0%

Cessna Citation Mustang

Cessna Citation Mustang

Embraer Phenom 100

Embraer Phenom 100 Eclipse 500/550

SOURCE: JETNET

received on September 8, 2006, and April 2007 marked the first retail delivery.

Powered by two Pratt & Whitney PW615F turbofan engines, the Mustang’s cockpit hosts the Garmin G1000 Avionics system. FAA Type Certification for the Mustang includes singlepilot operations. www.AvBuyer.com

MARKET SHARE Chart A represents the in-operation aircraft Market Share as of May 2014 for the Citation Mustang (60%) and the Embraer Phenom 100 (40%) There are currently 748 total aircraft in operation for these two models. Also depicted, however, is that when you add the Eclipse ❯ Aircraft Index see Page 4

LEAS Single July_LEAS 25/06/2014 10:51 Page 1

Contact us: USA 201-891-0881 aircraftsales@leas.com WWW.LEAS.COM 2005 Embraer Legacy 600 s/n 14500933 Engines & APU 100% JSSI, 8-yr “C” check 8/2013, Paint 1/2012, interior 9/2013, Steep Approach Kit (London City), Has operated Commercial EU-OPS 1 Price $11,295,000

2007 Challenger 300 s/n 20121

Price $7,595,000

2005 Gulfstream 200 s/n 126

Engines and APU on MSP, Collins Proline 21 w/ 4-tube EFIS and Dual ISIS, Aircell Wi-Fi, New woodwork throughout cabin, Iridium ICS 2-ch Satphone, 96 mo. insp. due 2015

10 passenger, Engines on ESP, APU on MSP, Avionics on CASP Program, 8C inspection just completed, Autothrottle, Maintained Part 135

Price $11,695,000

2006 Challenger 604 s/n 5633 Engines on GE OnPoint, APU on MSP Gold, On Smart Parts, Precision Plus Upgrade w/ Autothrottle, Hi-speed internet & wi-fi, Gross weight increase mod, New Interior & paint 2012, Operated Part 135 Price $6,695,000

2001 Challenger 604 s/n 5514 Aircraft on Smart Parts with engine supplement, XM weather & RAAS installed Sept. 2010, 96-mo. insp. Sept.

2010, 400, 800 hr. & 12, 24, 48 mo. insp. June 2014, Operating Part 135 Price $4,695,000

2000 Citation X s/n 750-0122 Engines on Corporate Care, APU on Aux Advantage, 9-yr insp. & Doc 3 c/w 9/2011, 4500 hr c/w 8/2008, Single point refuel, improved TR’s, Maintained Part 135

1999 Gulfstream V s/n 565 Engines on RR Corporate Care, APU on MSP, Avionics on Honeywell HAPP, On Honeywell Mechanical Protection (MPP), Aircell Wi-Fi, Heads Up Display, Interior refurbished 2011 Price $8,495,000

1999 Gulfstream GIVSP s/n 1383 Engines on condition & on RR Corporate Care, APU on MSP, Avionics on HAPP & MAPP, ADS-B Out, Satellite Direct TV and Int’l TV, Heads Up display, On MSP-3, Operating Part 135 Price $2,195,000

1982 Falcon 50 s/n 092 So many upgrades, Engines on MSP, Avionics on CASP, Collins ProLine 21 4-tube EFIS with 5.1 software, Aircell hi-speed internet and wi-fi, Aircell Axxess Iridium Satphone, interior partially refurbished 2012 new paint 2013

L E A D I N G E D G E AV I AT I O N S O L U T I O N S , L L C

W W W. L E A S . C O M

AirCompAnalysisJULY14_ACAn 23/06/2014 15:32 Page 2

AIRCRAFT COMPARATIVE ANALYSIS CESSNA CITATION MUSTANG

TABLE A - PAYLOAD & RANGE Model

MTOW (lb)

Max Fuel (lb)

Fuel Usage (GPH)

Max Payload (lb)

Avail Payload w/Max Fuel (lb)

Max Fuel Range (nm)

Max Payload Range (nm)

Citation Mustang

8,645

2,580

81

1,200

600

1,070

716

Phenom 100

10,472

2,804

126

1,312

580

1,242

701

SOURCE: DATA COURTESY OF CONKLIN & DE DECKER; JETNET; B&CA MAY 2014 PLANNING HANDBOOK & AUG. 2013 OPERATIONS PLANNING GUIDE

CHART B - CABIN CROSS-SECTION

500/550 to the Citation Mustang and Embraer Phenom 100 equation, the Citation Mustang enjoys a 44% market share of a total of 1,019 deliveries, whereas the Phenom has 30% and the Eclipse models 26% of the market.

The data contained in Table A (left) is sourced from Conklin & de Decker, and also published in B&CA, May 2014 issue. As we have mentioned in past articles, a potential operator should focus on payload capability as a key factor. The Citation Mustang ‘Available Payload with Maximum Fuel’ at 600 pounds is marginally more than that offered by the Phenom 100 (580 lbs).

However, according to Aircraft Cost Calculator (also represented in Table A), the Mustang burns just 81 gallons of fuel per hour (GPH), which is 35.7% less than the Phenom 100 (126 GPH).

CABIN VOLUME According to Conklin & de Decker, the cabin volume of the Mustang (163 cubic feet) is less than the Phenom 100 (212 cubic feet). The Phenom 100 offers more than two feet additional cabin length, and (as represented in our UPCAST JETBOOK cabin cross-sections (Chart B, left), the cabin height is a half foot taller than the Mustang, while the Mustang’s cabin width dimensions are also slightly smaller than the Phenom 100 aircraft.

Chart C (left) shows the circle ranges from Kansas, USA, for the business jets in this field of study, as sourced from Aircraft Cost Calculator. The Phenom 100 shows more range coverage than the Mustang.

Note: For jets and turboprops, ‘Seats-Full Range’ represents the maximum IFR range of the aircraft at Long-Range Cruise with all passenger seats occupied.

ACC assumes NBAA IFR fuel reserve calculation for a 200 nautical mile alternate. The lines depicted do not include winds aloft or any other weather-related obstacles.

SOURCE: UPCAST JETBOOK

CHART C - RANGE COMPARISON Cessna Citation Mustang Embraer Phenom 100

730 Nm 896 Nm

POWERPLANT DETAILS SOURCE: AIRCRAFT COST CALCULATOR

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

Each of the Citation Mustang’s Pratt & Whitney Canada PW615F engines offer a thrust rating of Aircraft Index see Page 4

AirCompAnalysisJULY14_ACAn 23/06/2014 15:33 Page 3

AIRCRAFT COMPARATIVE ANALYSIS CESSNA CITATION MUSTANG 1,460 pounds. The Phenom 100, meanwhile, is powered by a pair of Pratt & Whitney Canada PW617F-E engines, each with a thrust rating of 1,695 pounds.

CHART D - COST PER MILE*

COST PER MILE COMPARISONS Using data published in the May 2014 B&CA Planning and Purchasing Handbook and the August 2013 B&CA Operations Planning Guide we will compare our aircraft. The nationwide average Jet-A fuel cost in the August 2013 edition was $6.08 per gallon at press time, so for the sake of comparison we’ll chart the numbers as published.

Note: Fuel price used from this source does not represent an average price for the year.

Chart D (right) details ‘Cost per Mile’, and compares the Citation Mustang to the Phenom 100 factoring direct costs, and with each aircraft flying a 600nm mission with 800 pounds (four passengers) payload. The Citation Mustang cost at $2.46 per nautical mile is virtually the same as the Phenom 100 at $2.47.

TOTAL VARIABLE COST COMPARISONS

Phenom 100

$2.47

Mustang

$2.46

Table B (right) represents the average pre-owned retail price from Vref for each aircraft. The last two columns of information show the number of aircraft inoperation, and the percentage ‘For Sale’, as per JETNET. It is interesting to note that of the 447 Mustangs in-operation today (64% new and 36% used), only 6% of the fleet is currently ‘For Sale’ (traditionally a seller’s market). The Phenom 100 is in a similar market position with just 9% of its the fleet of 301 aircraft ❯ ‘For Sale’.

Advertising Enquiries see Page 8

$3.00

$2.00

US $ per nautical mile * 600 nm mission costs, 800lbs payload

CHART E - VARIABLE COST

Phenom 100

$838

Mustang

$839

The ‘Total Variable Cost’, illustrated in Chart E (right), is defined as the cost of Fuel Expense, Maintenance Labor Expense, Scheduled Parts Expense and Miscellaneous Trip Expense. The total variable cost for the Mustang at $839 is virtually the same as for the Phenom 100 ($838).

AIRCRAFT COMPARISON TABLE

$1.00

$0.00

$0

$1,000

$500 US $ per hour

TABLE B - COMPARISON TABLE

Avg Speed (kts)

Cabin Volume (cu ft.)

Max Payload w/avail fuel range(nm)

Mustang

319

163

718

Phenom 100

333

212

915

Model

In Operation

% For Sale

$3.5m

447

6.0%

$4.4m

301

9.0%

VREF Price $ M

SOURCE: DATA COURTESY OF CONKLIN & DE DECKER; JETNET; VREF

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AIRCRAFT COMPARATIVE ANALYSIS CESSNA CITATION MUSTANG

TABLE C - PART 91 & 135 MACRS SCHEDULE Following is the MACRS schedule for PART 91: Year 1 2 3 4 5 6

Following is the MACRS schedule for PART 135:

Deduction 20.00% 32.00% 19.20% 11.52% 11.52% 5.76%

Year 1 2 3 4 5 6 7 8

Deduction 14.29% 24.49% 17.49% 12.49% 8.93% 8.92% 8.93% 4.46%

SOURCE: NBAA

TABLE D - MACRS DEPRECIATION SCHEDULE 2014 Cessna Mustang - Private (Part 91) Full Retail Price - Millions Year Rate (%) Depreciation Depreciation Value Cumulative Depreciation

$3.5 1

2

3

4

5

6

20.0% $0.7 $2.8 $0.7

32.0% $1.1 $1.7 $1.8

19.2% $0.7 $1.0 $2.5

11.5% $0.4 $0.6 $2.9

11.5% $0.4 $0.2 $3.3

5.8% $0.2 $0 $3.5

2014 Cessna Mustang - Charter (Part 135) Full Retail Price - Millions Year Rate (%) Depreciation Depreciation Value Cumulative Depreciation

$3.5 1

2

3

4

5

6

7

8

14.3% $0.5 $3.0 $0.5

24.5% $0.8 $2.1 $1.3

17.5% $0.6 $1.5 $1.9

12.5% $0.43 $1.1 $2.4

8.9% $0.31 $0.8 $2.7

8.9% $0.31 $0.5 $3.0

8.9% $0.31 $0.2 $3.3

4.5% $0.15 $0.0 $3.5

SOURCE: AIRCRAFT COST CALCULATOR.COM

Considering the whollyowned Citation Mustang aircraft, according to JETNET North America is home to the majority with 262 (61%), followed by Europe at 95 units (22%).

Currently, one dozen Citation Mustang aircraft are in shared ownership, and there is only one in a fractional-ownership arrangement.

DEPRECIATION SCHEDULE FOR BUSINESS AIRCRAFT Aircraft that are used in a trade, business, or for the production of income that are primarily operat-

72

ed domestically, and not used in common or contract carriage (e.g.

Part 91) may be depreciated over a five-year Modified Accelerated Cost Recovery System (MACRS) schedule. Aircraft used in common or contract carriage (e.g., Part 135) are depreciable under seven-year MACRS (see Table C, above).

Table D (above), meanwhile, depicts an example of using the MACRS schedule for a 2014 Mustang in private (Part 91) and charter (Part 135) operations over five and seven-year periods assuming a Vref retail value of $3.5 million.

WORLD AIRCRAFT SALES MAGAZINE – July 2014

ASKING PRICES VS AFTT, AGE & ENGINE THRUST Chart F (top, right), sourced from the Multi-dimensional Economic Evaluators (MEE) Inc., (www.meevaluators.com), shows a Value and Demand chart for the Mustang, Phenom 100 and also the Eclipse 500 business jet. The current pre-owned market for these very light/Entry Level business jets shows a total of 92 aircraft ‘For Sale’. Forty seven of the 92 have an asking price - thus, we have plotted the 47 with asking prices.

Demand and Value are on opposite sides of the same Price

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axis. The market treats the Mustang, Phenom 100, and Eclipse in much the same way.

The Demand Equation (right side) for these vehicles is Price $m = 12.8 Quantity-0.831. The somewhat flat slope (exponent > -1.0) indicates that there is slightly more revenue in the bottom-most bin ($1m) than there is in the uppermost bin ($3.5m).

This equation is very well correlated, with a R2 of 99.4% (with a P-Value of 0.0002).

The Value Equation (left side) for these vehicles is Price $m = 1,047, 247 + 806 *Aircraft Thrust (total at sea level, in pounds), –193,543 *Years, –224 *Total Time on the Airframe. We find that the Value Equation for these vehicles is very well correlated too, with a R2 of 90.9% (with P-Values of 7.44E-12, 1.09E-05 and 3.43%, respectively). This equation means that the market adds $806 for every added pound of thrust, but subtracts $193,543 for each added year and $224 for every added hour.

We also needed to consider ‘Thrust’ as it turns out to be an important influencing variable (as witnessed by its very low PValue). In the Value section of the chart, the upper blue plane uses our value equation with the Phenom 100's 3,390 lbst, and relates to the blue cubes that represent the Phenom 100. The middle coral plane uses our value equation with the Mustang's 2,920 pounds of thrust relating to the coral spheres that represent the Mustang. The lower brown plane uses our value equation with the Eclipse 500's 1,800 lbst, and relates to the brown octahedrons that represent the Eclipse 500.

Thus, the market for used Phenom 100s, Eclipse 500s and Mustangs is statistically responsive to at least the five features depicted here: Years, Total Time on Air Frame, Thrust, Price and Quantity.

PRODUCTIVITY COMPARISONS The points in Chart G (right) center on the Mustang and Phenom 100 aircraft. Pricing used in the vertical axis is as published in the Aircraft Index see Page 4

AirCompAnalysisJULY14_ACAn 24/06/2014 15:09 Page 5

AIRCRAFT COMPARATIVE ANALYSIS CESSNA CITATION MUSTANG B&CA 2014 Purchase Planning Handbook and Vref. The productivity index requires further discussion in that the factors used can be somewhat arbitrary.

Productivity can be defined (and it is here) as the multiple of three factors.

CHART F - VALUE/DEMAND

1. Range with full payload and available fuel; 2. The long-range cruise speed flown to achieve that range; 3. The cabin volume available for passengers and amenities.

Advertising Enquiries see Page 8

AF TT

CHART F - PRODUCTIVITY $5.0

Price (Millions)

The result is a very large number so for the purpose of charting, each result is divided by one billion. The examples plotted are confined to the aircraft in this study. A computed curve fit on this plot would not be very tight, but when all business jets are considered the “r” squared factor would equal a number above 0.9. Others may choose different parameters, but serious business jet buyers are usually impressed with price, range, speed, and cabin size.

After consideration of the value (difference of $885k) and fuel savings, we can conclude that the Citation Mustang, as shown in the productivity index is productive and has been popular with a high market share having started deliveries two years earlier (in 2006) than the Phenom 100. For Available Payload (full fuel)-to-Cabin Capacity-ratio, the Mustang offers a highly competitive value to a prospective owner for whom the smaller cabin capacity is not an issue. Nevertheless, the greater range, speed and cabin capacity will weigh in favour of the Phenom 100 for some operators.

So, eight years after first delivery, what will the future hold for the Mustang? History tends to show that after an aircraft model has been in production for between six and ten years – especially one that sells as well as the Mustang has - an upgraded successor will eventually be introduced by the OEM to maintain that success in the face of the ever increasing sophistication of Business

Mustang

$4.0

Phenom 100

$3.0 $2.0 $1.0 $0.0 0.000

0.020

0.040

0.060

0.080

Index

Aviation technology. Could Cessna be ready to announce an upgrade on the Citation Mustang any time soon to keep the model attractive to the market, and retain its leading market share for unit deliveries within the Entry Level segment?

Cessna has developed the Citation M2 to keep its competitive edge. Of course, other competitors are on the horizon, too: The HondaJet is priced at $4.5 million, for example, and Eclipse has re-emerged recently with an upgrade of its own the Eclipse 550.

SUMMARY Within the preceding paragraphs we have touched upon several of the key attributes that business jet operators value.

However, there are often other qualities such as service and support that factor in a buying decision, but which are beyond the scope of this article.

The Citation Mustang business jet has its advantages at its price-point - so those operators in the market should find the preceding comparison of value.

Our expectations are that the Citation Mustang will continue to do very well in the pre-

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owned market for the foreseeable future, but it’s worth keeping a watch out for how the new aircraft market develops.

The entire story of the Entry Level market has been remarkable as it now exceeds the 1,000 aircraft delivery mark.

❯ For more information: Michael Chase is president of Chase & Associates, and can be contacted at: 1628 Snowmass Place, Lewisville, TX 75077; Tel: 214-226-9882; Email: Mike@avbuyer.com; Web: www.mdchase.com

WORLD AIRCRAFT SALES MAGAZINE – July 2014

73

ACSpecs IntroJuly14_AC Specs Intronov06 24/06/2014 12:20 Page 1

AIRCRAFT SPECIFICATIONS: ENTRY LEVEL & LIGHT JETS

AUGUST ISSUE: Turboprops SEPTEMBER ISSUE: Large Cabin Jets OCTOBER ISSUE: Medium Jets NOVEMBER ISSUE: Entry Level & Light Jets

Aircraft Performance & Specifications Description of Cost Elements he World Aircraft Sales 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 Entry Level & Light Jets – appears overleaf, to be followed by Turboprops 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.

T

❯ Tel: +44 (0) 208 255 4000; Fax: +44 (0) 208 255 4300; Email: editorial@avbuyer.com. © 2011 Conklin & de Decker Associates, Inc., P.O. Box 1142, Orleans, Massachusetts, 02653, Tel. 508-255-5975, www.conklindd.com

74

WORLD AIRCRAFT SALES MAGAZINE – July 2014

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

VARIABLE COST PER HOUR Includes fuel, maintenance reserves for routine maintenance, engine/ propeller/APU reserves, and miscellaneous expenses.

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. Cabin Door Height and Width are the measurements of the main passenger cabin entry door.

BAGGAGE Internal baggage volume is the baggage volume that is accessible in flight by the passenger. This amount may vary with the interior layout. External baggage volume is the baggage volume not accessible in flight (nacelle lockers, etc.).

CREW SEATS/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.).

WEIGHTS: • Maximum Take-Off Weight and Maximum Landing Weight are specified during aircraft certification.

• Basic Operating Weight is the empty weight, typically equipped, plus unusable fuel and liquids, flight crew @ 200 pounds each and their supplies.

• Useable fuel is the useable fuel in gallons x 6.7 pounds per gallon (Jet fuel) or 6 pounds per gallon (AVGAS).

• Payload with Full Fuel is the useful load minus the useable fuel. The useful load is based on the maximum ramp weight minus the basic operating weight.

• Maximum Payload is the maximum zero fuel weight minus the basic operating weight.

SPECIFICATIONS PERFORMANCE RANGE: • Range - Seats Full is the maximum IFR range of the aircraft with all passenger seats occupied. This uses the NBAA IFR alter-

www.AvBuyer.com

nate fuel reserve calculation for a 200 N.Mi. alternate. This is used for jet and turboprop aircraft.

• 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.

• VFR Range - Seats Full is the maximum VFR range of the aircraft with all passenger seats occupied. This is used for all helicopters and piston fixed-wing aircraft.

• VFR Ferry Range - is the maximum VFR range of the aircraft with the maximum fuel on board and no passenger seats occupied. This is used for all helicopters and piston fixed-wing aircraft.

BALANCED FIELD LENGTH BFL is the distance obtained by determining the decision speed (V1) at which the take-off distance and the accelerate-stop distance are equal (fixed-wing multi-engine aircraft only). This is based on four passengers and maximum fuel on board (turbine aircraft). For single-engine and all piston fixed-wing aircraft, this distance represents the take-off field length at Maximum Takeoff Weight (MTOW).

LANDING DISTANCE (FACTORED) For fixed-wing turbine aircraft, landing distance is computed using FAR 121 criteria. This takes the landing distance from 50/35 feet (depends on certification criteria) and multiplies that by a factor of 1.667. No credit is given for thrust reversers.

Configuration is with four passengers and NBAA IFR Fuel Reserve on board. For fixed-wing piston aircraft, this figure is the landing distance over a 50 foot obstacle.

RATE OF CLIMB (Ft/Min) The rate of climb, given in feet per minute, is for all engines operating, at MTOW, ISA conditions. One Engine Out rate of climb is for one engine inoperative rate of climb at MTOW, ISA. 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. Normal cruise speed is the recommended cruise speed established by the manufacturer. This speed may also be the same as Maximum Cruise Speed. Long Range Cruise is the manufacturer’s recommended cruise speed for maximum range.

ENGINES The number of engines, manufacturer and model are shown.

Aircraft Index see Page 4

❯

AIRCRAFT SALES & ACQUISITIONS +1 402.475.2611 路 www.DuncanAviation.aero/aircraftsales 路 800.228.4277

Duncan Aviation has been assisting companies around the world with the sales and acquisition of aircraft for over 50 years.

2 0 0 5 Fa l co n 2 0 0 0 E X E ASy s /n 0 5 8

2,428 Total Time. ESP Gold Lite. Ten Passenger Interior.

Dual Independent Aircell ST-3100 Sat Phones.

1 9 8 3 L e a r j e t 5 5 s /n 0 97

7,800 Total Time. MSP. P1/1A Mods. UNS-1C FMS. BAS ICT 12 Year. Paint. Interior in 2008. NDH.

1 9 9 9 C h a l l e n g e r 6 0 4 s /n 5 3 9 5

One U.S. Fortune 500 Owner Since New. Fresh 192-month Gear Overhaul Duncan Aviation. JSSI.

2 0 0 5 C i t a t i o n S ove re i g n s /n 1 8

4,207 Total Time. Primus EPIC EFIS. Dual FMS. Nine Passenger Interior. One Fortune 500 Owner Since New.

World Aircraft Sales Ad 6_18_14.indd 1

2 0 0 8 G u l f s t re a m 2 0 0 s /n 1 9 5

2,074 Total Time. 1,274 Landings. ESP Gold. Nine Passenger Interior. Wi-Fi.

1 9 97 Fa l co n 9 0 0 B s /n 1 6 3

7,150 Total Time. Honeywell MSP. 14 Pax. Triple IRS. Paint 2010. Fresh 3C Inspection. Excellent History.

2 0 0 1 G u l f s t re a m 1 0 0 s /n 1 4 0

4,711 Total Time. 3,866 Landings.

MSP Gold. APU.

1 9 8 6 C i t a t i o n I I I s /n 6 5 0 -1 1 4

10,062 Total Time. Engines on MSP. Universal UNS1-D FMS. 2003 Duncan Aviation Owned and Operated.

6/11/2014 8:56:02 AM

AIRCRAFT SPECIFICATIONS

BE EC HC RA FT BE EC HJE BE T4 EC 00 HC A RA FT HA WK ER BE 40 EC 0X HC P RA FT HA WK ER BE 40 EC 0X HC PR RA FT PR EM IER BE I EC HC RA FT PR EM IER BO IA MB AR DIE RL EA RJE T3 BO 1A MB AR DIE RL EA RJE T4 BO 0 MB AR DIE RL EA RJE BO T4 MB 0X R AR DIE RL EA RJE T4 5

AircraftPer&SpecJuly14_PerfspecDecember06 25/06/2014 12:32 Page 1

ENTRY LEVEL & LIGHT JETS $2,374.66

$2,346.36

$1,858.34

$1,744.03

$1,731.95

$2,429.72

$2,303.50

$2,382.84

$2,337.90

CABIN HEIGHT FT.

4.8

4.75

4.75

5.4

5.4

4.35

4.92

4.92

4.92

CABIN WIDTH FT.

4.9

4.92

4.92

5.5

5.5

4.95

5.12

5.12

5.12

CABIN LENGTH FT.

15.6

15.5

15.5

13.6

13.6

12.9

17.67

17.67

19.75

CABIN VOLUME CU.FT.

293

305

305

285

285

281

369

369

415

DOOR HEIGHT FT.

4.16

4.2

4.2

4.16

4.167

4.16

4.8

4.8

4.8

DOOR WIDTH FT.

2.41

2.4

2.4

2.125

2.125

3

2.5

2.5

2.5

BAGGAGE VOL. INT. CU.FT.

31

31

31

23

23

40

15

15

15

BAGGAGE VOL. EXT. CU.FT.

25

25

25

55

55

-

50

50

50

CREW #

2

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

7

8

8

6

6

6

6

6

8

MTOW LBS

16100

16300

16300

12500

12500

17200

20350

21000

20500

MLW LBS

15700

15700

15700

11600

11600

16000

19200

19200

19200

B.O.W. W/CREW LBS

10915

10985

10900

8565

8600

11203

13718

13949

13890

USEABLE FUEL LBS

4912

4912

4912

3611

3670

4124

5375

6062

6062

PAYLOAD WITH FULL FUEL LBS

473

603

688

414

320

1873

1507

1239

798

MAX. PAYLOAD LBS

2085

2015

2100

1435

1400

2297

2282

2051

2110

RANGE - SEATS FULL N.M.

1180

1180

1243

850

850

1211

1573

1778

1423

MAX. RANGE N.M.

1519

1519

1974

1340

1340

1337

1707

1960

1968

BALANCED FIELD LENGTH FT.

4600

4600

4030

4650

4650

3800

4330

4680

4350

LANDING DIST. (FACTORED) FT.

5083

5025

5237

5208

5208

4200

4033

4060

4063

R.O.C. - ALL ENGINES FT PER MIN

4020

4020

5000

4000

4000

5110

2820

2820

2800

R.O.C. - ONE ENGINE OUT FT PER MIN

560

560

620

948

948

1610

710

394

590

MAX. CRUISE SPEED KTAS

458

450

450

461

454

462

465

465

465

NORMAL CRUISE SPEED KTAS

449

450

450

426

426

441

436

436

436

L/RANGE CRUISE SPEED KTAS

410

410

425

370

370

417

428

432

416

2

2

2

2

2

2

2

2

2

JT15D-5

JT15D-5R

FJ44-4A-32

FJ44-2A

FJ44-2A

TFE 731-2

TFE 73120AR

TFE 73120BR

TFE 73120AR

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

❯

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.

76

WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

Aircraft Index see Page 4

Wright Brothers April 14/04/2014 16:19 Page 1

Celebrating 10 Years of Excellent Service

YOUR PREMIERE TITLE COMPANY Wright Brothers Aircraft Title is a provider of aircraft title management and escrow services for all types of aircraft. Doing business both domestically and around the globe, Wright Brothers offers quick, personalized service from Debbie Mercer, always with the utmost of confidentiality. Available 24.7.365

Title Search Title Clearing Escrow Services Registration Services Accident / Incident searches Preparation of Documents Domestic and International Services

Wright Brothers Aircraft Title 9075 Harmony Drive Oklahoma City, Oklahoma 73130 Telephone: (405) 680-9289 Toll-Free (within the US): (866) 217-5700 Fax: (405) 732-7457 Email: dmercer@wbaircraft.com

AIRCRAFT SPECIFICATIONS

BO MB AR DIE RL EA RJE T4 BO 5X MB R AR DIE RL EA RJE T7 BO 0 MB AR DIE RL EA RJE T7 CE 5 SSN AC ITA TIO NM US CE TA SSN NG AC ITA TIO NM 2 CE SSN AC ITA TIO NJ ET CE SSN AC ITA TIO NC J1 CE SSN AC ITA TIO NC J1+ CE SSN AC ITA TIO NC J2

AircraftPer&SpecJuly14_PerfspecDecember06 24/06/2014 12:30 Page 2

ENTRY LEVEL & LIGHT JETS $2,450.21

$2,415.09

$2,437.05

$1,074.59

$1,488.72

$1,611.93

$1,521.71

$1,551.87

$1,610.81

CABIN HEIGHT FT.

4.92

4.92

4.92

4.5

4.75

4.8

4.75

4.75

4.75

CABIN WIDTH FT.

5.12

5.12

5.12

4.58

4.83

4.83

4.83

4.83

4.83

CABIN LENGTH FT.

19.75

17.67

19.75

9.8

11

11

11

11

13.58

CABIN VOLUME CU.FT.

415

369

415

163

201

205

201

201

248

DOOR HEIGHT FT.

4.8

4.8

4.8

3.8

4.25

4.25

4.25

4.25

4.25

DOOR WIDTH FT.

2.5

2.5

2.5

2

2

2

2

2

2

BAGGAGE VOL. INT. CU.FT.

15

15

15

6

-

4

8

-

4

BAGGAGE VOL. EXT. CU.FT.

50

50

50

57

43.1

51

51

45

70

CREW #

2

2

2

1

2

2

2

2

2

SEATS - EXECUTIVE #

8

6

8

4

6

5

5

5

6

MTOW LBS

21500

21000

21500

8645

10700

10400

10600

10700

12375

MLW LBS

19200

19200

19200

8000

9900

9700

9800

9900

11500

B.O.W. W/CREW LBS

14125

13715

13890

5550

7146

6950

7050

7035

7900

USEABLE FUEL LBS

6062

6062

6062

2580

3296

3220

3220

3220

3932

PAYLOAD WITH FULL FUEL LBS

1563

1473

1798

600

358

330

430

545

668

MAX. PAYLOAD LBS

1875

2285

2110

1200

1254

1450

1350

1365

1400

RANGE - SEATS FULL N.M.

1685

1873

1805

718

694

750

775

895

1075

MAX. RANGE N.M.

1937

2000

1976

1070

1380

1130

1161

1245

1530

BALANCED FIELD LENGTH FT.

5040

4230

4440

3380

3250

4010

4220

3990

3820

LANDING DIST. (FACTORED) FT.

4105

4060

4105

3683

-

4333

4407

4135

4628

R.O.C. - ALL ENGINES FT PER MIN

2630

-

-

3010

3698

3311

3230

3290

3870

R.O.C. - ONE ENGINE OUT FT PER MIN

589

-

-

870

1075

868

850

906

1160

MAX. CRUISE SPEED KTAS

465

465

465

340

404

377

381

389

413

NORMAL CRUISE SPEED KTAS

436

436

436

340

404

364

381

389

413

L/RANGE CRUISE SPEED KTAS

432

432

432

319

318

302

307

307

344

2

2

2

2

2

2

2

2

2

TFE 73120BR

TFE 73140BR

TFE 73140BR

PW615F

FJ44-1AP

FJ44-1A

FJ44-1A

FJ44-1AP

FJ44-2C

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

❯

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.

78

WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

Aircraft Index see Page 4

Aradian July 23/06/2014 15:11 Page 1

2007 Gulfstream G150

Price ex Europe: To be confirmed

Airframe TT: Landings:

ICG ICS 200 Iridium Satcom with 3 handsets CMP maintenance tracking Dual life rafts and lifejackets Enhanced mode s transponders with diversity antennae and Flight ID Interior Eight passenger interior in Beige leather, including belted toilet. High gloss, light wood veneer cabinetry. Forward single, forward-facing chair, opposite 2-place divan. Aft 4-place club. Five seats are fully articulating and berthable. Forward galley with coffee machine and storage.

Forward and aft closets. Aft toilet with vanity.

Entertainment includes DVD player and 15” monitor in forward closet Exterior Overall Oyster White with Chestnut Brown and Dark Saddle stripes

2350 1085

Engines Honeywell TFE 731-40AR-200G TSN TBO Left/Right 2350 5000 APU Honeywell RE100CS 1045 Avionics Collins ProLine 21 4-Tube EFIS Autopilot Dual Collins FGC-3000 FMS Dual Collins FMC-6000 HF Dual Collins HF-9000 with SELCAL Nav Collins NAV-4000 & Collins NAV-4500 ADF Dual Collins NAV-4000 Transponder Dual Collins TDR-94D Rad Alt Collins ALT-4000

EGPWS Honeywell Mark V CVR Universal CVR-120 FDR Honeywell AR 256 ADC Dual Collins ADC-3010 GPS Dual Collins GPS-4000A Com Dual Collins VHF-4000E DME Dual Collins DME-4000 Radar Collins WXR 850 TCAS Collins TCAS-4000 ELT Artex C406-N IRS Honeywell Laseref V Features RVSM an MNPS compliant Long range oxygen 3rd VHF comm with datalink 2nd ADF. 2nd HF. EU Ops compliant Collins IFIS with FSU system

1999 Gulfstream V Airframe TT: Landings:

5050 1760

Engines Engines on Rolls Royce Corporate Care Left Right Total Hours: 4828 4967 Engine Cycles: 1626 1652 APU Honeywell RE220 with 3783 hours total time Avionics Com Triple Collins VHF-422D ADF Dual Collins ADF-462 HF Dual Collins HF-9000 Transponder Dual Collins TDR-94D FMS Triple Honeywell NZ-2000 IRS Triple Honeywell Laseref IV

EGPWS Allied Signal Mark V w/Windshear Protection Radar Honeywell Primus 880 CVR B&D Stormscope WX 1000+ Nav Dual Collins VIR-432 DME Dual Collins DME-442 Rad Alt Dual Honeywell RT-300 ELT Artex 406 GPS Dual 12-Channel TCAS Honeywell TCAS II w/Change 7 ELT Artex FDR B&D Features RVSM and MNPS compliant Global Sat-AFIS data link system Honeywell MCS 6000 6-Channel Satcom with Magnastar C2000 phone system

UK office Tel. +44 1481 233001 Fax.+44 1481 233002 steverogers@aradian.com Also in: South America, South Africa, Russia, Spain, Germany, India & UAE

External camera system Honeywell HUD 2020 Head Up Display Securaplane 450 security system Interior Fourteen passenger configuration in Light Beige leather with Gold plate accessories. Side panels and headliner in coordinating Beige. High gloss, light wood veneer cabinetry.

Forward – four-place club; Mid cabin – four-place club; Aft cabin – Two-place club opposite a four-place berthable divan.

Forward, galley with microwave and convection oven, dual coffee makers, hot and cold water and storage for crystal, china, cutlery, food, beverages and ice Exterior Overall White with Brown stripes

US office: Mesa Tel. +1 480 396 9086 Fax. +1 480 393 7008 rick@aradian.com www.aradian.com

AIRCRAFT SPECIFICATIONS

CE SSN AC ITA TIO NC J2+ CE SSN AC ITA TIO NC J3 CE SSN AC ITA TIO NC J4 CE SSN AC ITA TIO NB RA VO CE SSN AC ITA TIO NE NC CE OR SSN E AC ITA TIO NE NC OR CE E+ SSN AC ITA TIO NE XC CE EL SSN AC ITA TIO NX LS CE SSN AC ITA TIO NX LS+

AircraftPer&SpecJuly14_PerfspecDecember06 24/06/2014 12:31 Page 3

ENTRY LEVEL & LIGHT JETS $1,711.28

$1,825.45

$2,126.49

$1,851.76

$2,201.76

$2,162.20

$2,590.16

$2,507.44

$2,474.80

CABIN HEIGHT FT.

4.75

4.75

4.75

4.7

4.75

4.75

5.7

5.7

5.7

CABIN WIDTH FT.

4.83

4.83

4.83

4.8

4.83

4.83

5.5

5.5

5.5

CABIN LENGTH FT.

13.58

15.67

17.3

15.75

17.33

17.33

18.5

18.5

18.5

CABIN VOLUME CU.FT.

248

286

293

292

314

314

422

422

422

DOOR HEIGHT FT.

4.25

4.25

4

4.25

4.25

4.25

4.54

4.5

4.5

DOOR WIDTH FT.

2

2

2

2

2

2

2

2

2

BAGGAGE VOL. INT. CU.FT.

-

-

6

28

28

28

10

10

10

BAGGAGE VOL. EXT. CU.FT.

65

65

71

46

43

43

80

80

80

CREW #

2

2

2

2

2

2

2

2

2

SEATS - EXECUTIVE #

6

6

7

7

7

7

7

8

8

MTOW LBS

12500

13870

17110

14800

16630

16830

20000

20200

20200

MLW LBS

11525

12750

15660

13500

15200

15200

18700

18700

18700

B.O.W. W/CREW LBS

7980

8585

10350

9375

10525

10460

12500

12800

12800

USEABLE FUEL LBS

3930

4710

5828

4824

5400

5400

6740

6740

6740

PAYLOAD WITH FULL FUEL LBS

715

775

1052

801

905

1170

960

860

860

MAX. PAYLOAD LBS

1720

1925

2150

1925

2075

2390

2500

2300

2300

RANGE - SEATS FULL N.M.

1194

1374

1667

1290

1410

1494

1449

1539

1528

MAX. RANGE N.M.

1626

1891

1991

1720

1736

1792

1839

1989

1976

BALANCED FIELD LENGTH FT.

3810

3440

3500

4160

3920

3920

4060

3910

3910

LANDING DIST. (FACTORED) FT.

4645

4203

3978

4295

4195

4182

4917

4738

4738

R.O.C. - ALL ENGINES FT PER MIN

4120

4478

3858

3190

4740

4620

3790

3500

3500

R.O.C. - ONE ENGINE OUT FT PER MIN

1004

1090

1248

845

1440

1400

699

800

800

MAX. CRUISE SPEED KTAS

413

417

454

405

430

430

433

433

440

NORMAL CRUISE SPEED KTAS

413

417

454

405

430

430

433

433

440

L/RANGE CRUISE SPEED KTAS

351

348

380

335

372

372

373

373

373

2

2

2

2

2

2

2

2

2

FJ44-3A-24

FJ44-3A

FJ44-4A

PW530A

PW535A

PW535B

PW545A

PW545B

PW545C

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

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.

80

WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

Aircraft Index see Page 4

XLS +

CE SSN AC ITA TIO NU LTR A EC LIP SE AE RO SPA CE TO TA EC LE LIP CLI SE PSE AE RO 50 SPA 0 CE EC LIP EM SE BR 55 AE 0 RP HE NO M 10 0 EM BR AE RP HE NO M 30 0 HO ND AA IRC RA FT HO ND AJE NE XTA T NT AE RO SPA CE 40 NE 0X XTA T NT AE RO SPA CE 40 0X Ti

AircraftPer&SpecJuly14_PerfspecDecember06 24/06/2014 12:34 Page 4

ENTRY LEVEL & LIGHT JETS $2,443.46

$968.73

$937.02

$1,211.28

$1,837.57

$1,220.90

$1,779.99

$1,779.99

CABIN HEIGHT FT.

4.8

4.16

4.16

4.92

4.92

4.94

4.75

4.75

CABIN WIDTH FT.

4.83

4.66

4.66

5.08

5.08

5

4.92

4.92

CABIN LENGTH FT.

17.33

7.6

7.6

11

17.17

12

15.5

15.5

CABIN VOLUME CU.FT.

310

109

109

212

324

-

305

305

DOOR HEIGHT FT.

4.25

3.9

3.9

4.86

4.86

-

4.2

4.2

DOOR WIDTH FT.

2

1.96

1.96

2.04

2.42

-

2.4

2.4

BAGGAGE VOL. INT. CU.FT.

26

16

16

18

19

-

31

31

BAGGAGE VOL. EXT. CU.FT.

41

-

-

53

66

66

25

25

CREW #

2

1

1

1

2

1

2

2

SEATS - EXECUTIVE #

7

3

3

5

7

5

7

7

MTOW LBS

16300

6000

6000

10472

17968

9963

16300

16300

MLW LBS

15200

5600

5600

9766

16865

-

15700

15700

B.O.W. W/CREW LBS

9950

3834

3834

7132

11783

-

10531

10531

USEABLE FUEL LBS

5771

1698

1698

2804

5353

-

4912

4912

PAYLOAD WITH FULL FUEL LBS

779

502

502

580

942

-

1057

1057

MAX. PAYLOAD LBS

2250

1088

1088

1312

2216

-

2469

2469

RANGE - SEATS FULL N.M.

1259

574

574

915

1705

1035

1852

1852

MAX. RANGE N.M.

1651

964

964

1242

1944

1304

2108

2108

BALANCED FIELD LENGTH FT.

3510

2898

2898

3040

3138

-

4600

4600

LANDING DIST. (FACTORED) FT.

3833

5173

5173

4080

3715

-

4045

4045

R.O.C. - ALL ENGINES FT PER MIN

4230

2575

2575

3061

3335

3990

5000

5000

R.O.C. - ONE ENGINE OUT FT PER MIN

728

780

780

702

1044

-

995

995

MAX. CRUISE SPEED KTAS

430

371

371

390

444

420

471

471

NORMAL CRUISE SPEED KTAS

430

369

369

371

430

420

460

460

L/RANGE CRUISE SPEED KTAS

372

330

330

333

383

-

405

405

2

2

2

2

2

2

2

2

JT15D-5D

PW610F-A

PW610F-A

PW617F-E

PW535E

HF120

FJ44-3AP

FJ44-3AP

VARIABLE COST PER HOUR $

ENGINES # ENGINE MODEL

■

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.

Advertising Enquiries see Page 8

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

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JMesinger July14_JMesingerNov06 23/06/2014 16:05 Page 1

THE AVIATION LEADERSHIP ROUNDTABLE

The Glass Is Half-Full have reported over the course of the last year on the segment of our fleet that is not only ‘aging’, but really aging. I refer to the fleet of old Challengers, Citations, Falcons and Learjets. I have observed that this segment could be currently owned and operated by their last owner.

Once finished with, the prospect of these airplanes finding re-sale homes may prove problematic, and weighing a plane may have a new meaning beyond a Part 135 requirement and prove more to be a method of valuation.

I do think that there is a story to tell that shows the glass for some of these aircraft to be half-full, however! In fact if I am correct it is a big half-full glass for the entire industry.

Allow me to explain…

We recently had just such an aircraft to sell. It was an older Citation, and as we looked at the airplane and worked to create a benefits statement about it we began to understand who would be the likely buyer: It would be someone who would not be impacted by not upgrading for the nearfuture regulatory avionics requirements such as ADS-B Out or FANS, etc. The prospective owner would be someone seeking to fly in a regional environment who would not require those modifications.

Next we looked at available engine times prior to overhauls (in this case about 900 hours). We considered pedigree and records, and all of that was in fine shape. So we priced the airplane according to the current market comparables, as well as our own judgment of the market for this type of airplane. The Citation did not ‘fly off of the shelf’, but within a fairly short selling period we got an acceptable offer and sold the aircraft. So, why all the half-full talk?

Well, as indicated above, there just might be one more sale left in these old aircraft.

After all, there is no reason to equate old with unsafe. Even much newer airplanes if not maintained or piloted correctly can be problematic. So why not use this very low entry-level aircraft segment to attract what is becoming a more robust first-time buyers’ market? That is what I mean by a ‘half-full’ view.

Not only will the sale of these aircraft invigorate the market segment, but as I have

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With all of this said, there is still life for these airplanes for possibly that one first-time buyer. written before the sale of an aircraft to a firsttime buyer means that pilots are hired, hangar space is leased, insurance policies are sold, fuel is sold and brokers are engaged. As you can see, it is really a very positive ‘snowball’ that starts rolling down the hill.

Now back to the reality of this segment of the fleet. As mentioned, we needed to build a benefits statement that embraced and did not ignore the reality of the aircraft. How would we set it apart from the over 90 other Citations that were ‘for sale’ at that time?

This airplane had approximately 900 hours remaining until engine overhauls with a cost of possibly $600,000 or more. Thus, I would assume, anyone buying this age and condition of airplane would not be planning to perform those engine overhauls which would create an even greater investment in it.

I believe that when a buyer comes into an arena like this, where the aircraft segment does not have engine programs, one of the most obvious benefits against price is how much time they have left on the engines before overhaul? This can be equated to years of operation (before the aircraft will no longer have a value, based on traditional operational residual value). The bottom line is that any airplane with more remaining hours until overhaul will sell first, for a higher price.

It’s really simple: Someone might invest in a paint job or some interior refurbishment, but as these airplanes reach the end of their www.AvBuyer.com

skyline the real value is more about available airframe or engine life. Large airframe inspections or major gear overhauls in the near-term work negatively against what would already be low pricing.

With all of this said, there is still life for these airplanes for possibly that one first-time buyer. Getting into aviation ownership has never been more affordable. Whoever used the word ‘affordable’ in the same sentence as aviation? Well, I just did...! As we start to see and feel a recovery in transactions we are starting to see the first-time buyer return in numbers not seen since the downturn starting in 2008.

Obviously the buyer’s confidence is being stirred by the low pricing, but do not mistake my use of the word ‘recovery’. Prices are still very depressed, and will never come back to pre-downturn numbers. What I am starting to see, however, is a slowing of the percentage of downward pricing and an uptick in transactions. This is obviously a very positive sign.

To summarize, there is still lower-pricing, but there are more transactions - and there is a renewed interest in the right, better, older aircraft on the market at the right price. Just when we were ready to say goodbye to these older aircraft, it appears that it’s time to look at the glass again - it is half full. ❯ Jay Mesinger is the CEO and Founder of Mesinger Jet Sales. Jay serves on the Jet Aviation Customer and Airbus Corporate Jets Business Aviation Advisory Boards (BAAB). Jay was a Member of the Board of the National Business Aviation Association (NBAA), and the Chairman of the Associate Member Advisory Council (AMAC). If you would like to join in on conversations relating to trends in Business Aviation, share your comments on Jay’s blog www.jetsales.com/blog, Twitter and LinkedIn. For more information visit www.jetsales.com.

Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine. Email feedback to: editorial@avbuyer.com Aircraft Index see Page 4

AIC Title June_Layout 1 20/05/2014 10:25 Page 1

Dealer Broker Mkt Update April14_Gil WolinNov06 23/06/2014 15:49 Page 1

DEALER BROKER MARKET UPDATE

A Rebound in 2014?

Inventory Decline Hints at Market Revival... Mostly.

by Dave Higdon

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www.AvBuyer.com

Aircraft Index see Page 4

Dealer Broker Mkt Update April14_Gil WolinNov06 23/06/2014 15:49 Page 2

o everything there is a season and a time for change; change that includes the inevitable: a slow, perceptible, measurable gain in the pre-owned market for business turbine aircraft. Growth, in other words…

Growth is occurring at many levels of Business Aviation. The recent First Quarter numbers from the General Aviation Manufacturers Association (GAMA) pointed toward a market-recovery trend with deliveries of new jets and piston aircraft up 11.9 and 21.4 percent, respectively (full coverage in our June edition, p94).

Propjets, conversely, declined – despite gains in King Air deliveries posted by the Beechcraft segment of Textron Aviation. The Cessna segment of Textron enjoyed a gain in jet sales but a decline in piston sales, while the high-performance singles of Cirrus and Diamond both showed solid gains; particularly at Diamond, with a 76-percent increase in aircraft deliveries.

The picture among the pre-owned fleet holds some more-complex elements, however, with two conflicting, and overarching trends seemingly at work: • First, inventories are shrinking irrespective of weight category; sales of preowned business-turbine aircraft are also happening more quickly.

• Second, prices continue to decline – incrementally, but they’re declining in spite of shrinking inventory and growing demand.

T

Meanwhile, the US economy contracted in the ugly weather of the first quarter (a miniscule 1.0 percent), but in the months since growth has rebounded, unemployment declined, GDP grew, and profits grew as Wall Street recorded some new high-close marks in early June.

DYSFUNCTIONAL CAPITALISM The usual mechanics of capitalism seem mired in dysfunction, at least in the realm of the preowned business-turbine aircraft. Declining inventories would normally be expected to push up prices. The bottom line is, however, that economists expect robust growth numbers for the second quarter, with continued improvements in the economy (including a rare sign of growth in wages) where it can spur the giant engine of the developed-world's economies: consumer spending.

Those gains appear to be in progress, but it's not showing as much in demand for business turbine aircraft. Such growth seems constrained not by tight finances, expensive money or struggling profits, but by companies' unwillingness to incur new debt or spend Advertising Enquiries see Page 8

www.AvBuyer.com

much of the large cash reserves many of them seem to be hoarding. Even the financial institutions seem bent on helping move the preowned market toward healthier activity levels.

STILL A CUSTOMERSATISFACTION GAME Janine Iannarelli of Texas-based Par Avion sees potential gains afoot. Today's interest in small, pre-owned, relatively recent production business jets valued between $2 million and $4 million remains positive, she explained.

Demand growth in the U.S. right now exceeds demand in the European Community countries, which makes some airplanes a stronger attraction in North America than Europe, Iannarelli added.

“We’ve counseled our European clients on the repositioning of their aircraft - in particular if it is a popular Cessna Citation CJ2 and CJ3 to the United States so as to help facilitate the sale of their airplanes.”

As part of its business services, Par Avion assists its European clients in the relocation process and provides oversight of the airplane while Stateside. Iannarelli also advocates for her home state, urging owners to ferry their aircraft to Texas for upgrades before sales, noting that “most major business aircraft manufacturers have a presence in Texas so it’s easy to address maintenance or cosmetic needs within one State.”

She added one more boost for the Lone Star State quoting its own info on how the cost of doing business is lower in Texas than many other states.

FOUNDATIONS OF A REBOUND In the months of 2014 so far, a number of aircraft finance institutions signaled their expanded range of finance interests. They started promoting underwriting loans for older business turbine aircraft - an approach at odds with the dominant view of the past five years.

But what was one financier's ‘junk jet’ in years past is today another's money-making investment. Today, multiple financiers again promote loans on aircraft 10, 20 and 30-plus years, based less on a broad guideline and more on a narrow, focused survey of the aircraft in play and the client signing the contract.

While bankers and lenders never completely abandoned financing older aircraft, they only did so with larger-than-normal down-payments, shorter-than usual payback terms, and above-average interest demands.

Today's more-open finance market marks a return to more-typical terms for down payment, length of the loan and interest rate charged – away from the almost-punitive terms. From all appearances, the combination ❯ of more-inclusive, lower-cost lending and WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Dealer Broker Mkt Update April14_Gil WolinNov06 23/06/2014 15:53 Page 3

of this to continue - with those opportunistic sellers turning back to the pre-owned market to carry them through to replacing that nowsold new jet. The factories will be happy to build them another.

“In some cases the payday exceeds the price difference, thanks to tax benefits for the original operator – but only if the airplane goes into service long enough to qualify. Some will sell the bonus depreciation as part of the asking price, too.”

Another broker from the Upper Midwest contributed: “Right now three of our clients want us to find them a G500, G550, or - if we can make the money work - a G650. Good luck with that!”

Other brokers reported the same problems – but for a new Falcon 7X; a Challenger 604; and etc... Said the Upper Midwest broker, “The easiest thing for us to fulfill right now is the need for a Citation – a single-pilot Citation gets a bit more complicated, but not much.”

The East Coast broker noted, “Too few seem interested in what we actually have available while too many want what so many want that we can't find enough to go around – and that's when things get ridiculously expensive.”

WHERE TO NEXT? increased interest in using business aircraft is having part of the expected effect. And they'll still welcome above-average down-payments and shorter terms – if that's what you prefer.

LEANER PICKINGS AVAILABLE The interesting thing about a so-called “drought” in pre-owned business-aircraft sales is that it tends to swell the pool of aircraft available for purchase – as in, actively ‘for sale’. Real droughts shrink pools and water supplies until the return of normal precipitation – even a bit above normal, but when sales drought conditions end, pools tend to shrink.

According to numerous analysts, that shrinkage is happening.

In early May, JETNET revealed a 1% drop in the pool of pre-owned jets ‘for sale’ and a 0.1% decline in the pool of pre-owned propjets actively on the market. Transactions grew in the first quarter, up 3.1%, sending the percentage of aircraft available ‘for sale’ to one of the lowest levels in nine years.

Prices paid declined, too, with the average asking price down 11.6% for jets, and off 29.4% for propjets. And while jets sold faster than a year ago – shorter by about 2.5 months – propjets went the opposite direction, on average needing 3.5 months more time to sell. Some other reports noted that March produced higher asking prices than February; that the quarter declined when measured against last

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

year and, as noted above, prices paid did not hold up.

If you talk to market analysts and economists, a degree of puzzlement emerges when Business Aviation takes center stage in the discussion.

BUYERS AND SELLERS LAY CLAIM

•

The ‘buyer's market’ that has been the Light and Medium Jet segments appear to be fading, even though the inventory available remains robust. Conversely, the super mid-size, largecabin and larger Businessliner segments seem to be slipping away from the ‘seller's market’ label of the past several years.

Nevertheless, the large-cabin jets remain the seller's choice (although less so than last year, when operators caused buzzes selling off just-delivered jets at a 10-percent or 12-percent premium. As one broker quipped to World Aircraft Sales Magazine, “An operator can do a lot with a one-week windfall of $5 million, $6 million or more.”

We saw some of this practice before the recession, although “It's a bit less rampant than before the recession,” the Midwest broker continued. Back then ‘owners’ picked up a quick buck by selling delivery positions for jets they never intended to keep. “It was pure speculation that paid off for practically everyone who cashed in before 2008. Some got caught, though.”

“These days”, noted a West Coast dealer, “the deals are for the airplane itself, not the contract and delivery slot. Similarly, the paydays are proportionally larger. Expect for some www.AvBuyer.com

• •

•

•

The economy is growing, solidly (although not yet robustly), and private and charter flying seem to be increasing.

Jobs are being created, and people are getting hired.

Corporate profits remain in record territory, and have been for a couple of years.

The stock market-recovery is complete and markets continue to edge into record territories.

American companies in particular hold cash reserves beyond any past normal level.

So with all of these solid, positive financial arrows aimed upward, why do business aircraft sales remain sluggish? Explanation can be found in all five of those above bullet points.

That economic growth, according to economists' consensus, isn't putting more money into the pocket of the main body of consumers who drive the American economy, with growth in wages and benefits barely ahead of the inflation rate. Still, the companies are hiring more people – who, for those returning to the workforce, means paying off debt rather than spending large.

Aircraft Index see Page 4

Dealer Broker Mkt Update April14_Gil WolinNov06 23/06/2014 15:51 Page 4

And with companies able to reap profits in that environment – increased worker efficiency is the main explanation – many feel no need to upgrade their lift while others cannot really gain any benefit from the tax benefits of late, so they continue to fly what they own, upgrading systems as feasible.

The silver lining seems to shine among those who left Business Aviation use or previously considered it – but didn't follow through with the recession upon them.

The Midwest broker tried to wrap up his thinking this way: “The best news is businesses increasingly need to travel, again; some of them are coming back to private aircraft...most of the old stigma is gone – forever, we hope. At the end of the day, a business aircraft can only get more attractive because the airlines continue to focus on a cut-to-grow business model – suicidal though that sounds.”

And the airlines' reputations and practices, he winked, remain the best recruiting tools Business Aviation could ever expect.

❯ Do you have any questions or opinions on the above topic? Get them answered/published in World Aircraft Sales Magazine.

Email feedback to: editorial@avbuyer.com ■

Security. Trust. Confidence.

2003 CJ2 | S/N 169 2664 TSN, 958 SH JSSI 100%, PROPARTS 3-TUBE EFIS, [D]GARMIN 530As UNS-1L, PROV FOR HF DOC 10 c/w SEPT/2012, DOC 8 c/w DEC/2013

2006 CJ3 | S/N 117

PHONE FAX

HOUSTON: 1 . 713 . 681 . 0075 1 . 713 . 681 . 0035

sales@paravionltd.com www.paravionltd.com

Years

AVION LTD PAR

as

14 1997 - 20

1745 TSN, TAP ELITE, SATPHONE DFDR, CVR, PROV FOR HF, PROPARTS BELTED LAV, BRAVO STYLE ENTRY STEPS EU OPS 1 APPROVED DOC 5 & 17 c/w DEC/2013, DOC 8 c/w NOV/2010

2007 CJ3 | S/N 200 2271 TSN, 270 SH, TCAS II, SAT WX RADAR FDR, CVR, STORMSCOPE, GPS-4000S (WAAS) BELTED LAV, BRAVO STYLE ENTRY STEPS EU OPS 1 APPROVED, DOC 5, 7, 9, 22, 24 & 40 c/w JAN/2014

1984 CITATION 650 | S/N 059 5928 TSN, –3C, MSP GOLD HONEYWELL EFIS (4-TUBE), DUAL GNS-XLS w/GPS TCAS II, KING EGPWS, SATPHONE, FREON NINE PASSENGER INTERIOR INCLUDING BELTED LAV DOC 8 c/w APRIL/2012, LEASE ONLY

PAR AVION LTD. IS ACTIVELY SEEKING NEW LISTINGS. WANTED: FALCON 2000LX, PROLINE 21 F50EX

AV I AT I O N C O N S U LTA N T S T O T H E W O R L D Advertising Enquiries see Page 8

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Jetnet July_Layout 1 23/06/2014 17:09 Page 1

[ ďŹ nd ]

The World Leader in Aviation Market Intelligence | 800.553.8638 | +1.315.797.4420 | jetnet.com

Pre-OwnedJuly14_Pre-Owned Sales Jan06 24/06/2014 12:40 Page 1

PRE-OWNED A/C SALES TRENDS

Pre-Owned Aircraft Sales Trends We’re not forecasting a turnaround or recovery... We are in the middle of one!

by Fletcher Aldredge very Saturday morning at my local airport pilots of just about every sort gather for coffee, to swap tales, and to complain about the Government. After one recent gathering I decided to walk down the flight line, because to paraphrase one of the Blue Collar Comedy Tour guys, ‘Once you’ve seen one airplane you pretty much want to see them all.’

About half way down the line, I could see a man messing about with a Piper Cherokee. He was surrounded by cleaners, waxes and lots of rags. It was clear he wanted me to stop and talk. He practically posed by the cowling and beamed a, “Perfect flying weather, isn’t it?!” He was eager to share his life story and more importantly to show me his airplane. Decades ago he earned his private license with hopes of becoming a professional pilot. Marriage, kids

E

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

and a mortgage put his flying dreams on hold. He had just purchased the Cherokee 140 days ago and was clearly ecstatic to be in the air again.

I’ve been fortunate enough to witness the delivery of numerous multi-million dollar, factory-new, turbine aircraft. Yet, I have never seen any owner as proud as that Cherokee pilot. We can all talk about the tremendous time savings, safety and security of everything from Beech Bonanzas to Gulfstreams, but never underestimate the importance of pride-of-ownership. To borrow the famous words from Wind in the Willows and bend them to our purposes: ‘…there is nothing – absolutely nothing – half so much worth doing as simply messing about in airplanes’.

PISTON SINGLES AND TWINS In the recent quarter the Vref Light Single www.AvBuyer.com

Index edged up slightly. Complex Piston Singles were mostly flat. Hot spots included GFC700-equipped Cessna 172s and 182s, and many of these excellent trainers are being exported. Cross-country machines like Beech Bonanzas, Cessna Corvalis and Cirrus SR22s also continue to be active.

Piston Twin acquisition costs remain in the ‘steal’ range, but operating costs keep this market flat. Small, growing companies should not ignore the utility and value in the Twin Cessna and P-Baron markets.

TURBOPROPS Steady and stable are words that best describe the turboprop market. That’s no surprise when you look at Table A. For more than a year, availability has been well below the proverbial 10% mark. No red flags here. If demand kicks up a notch, prices could come roaring back.

Aircraft Index see Page 4

Pre-OwnedJuly14_Pre-Owned Sales Jan06 24/06/2014 09:51 Page 2

TABLE A - TURBOS King Air B200 King Air 350 Cessna Conquest II

Fleet % For Sale (Aug 2013) 7% 5% 7%

Fleet % For Sale (May 2014) 6% 4% 4%

Fleet % For Sale (Aug 2013) 15% 5% 14% 14% 16% 13% 14% 6% 18% 9% 7% 13% 11% 16% 13% 10% 5% 2% 12% 17% 11% 12% 7% 20%

Fleet % For Sale (May 2014) 15% 8% 8% 15% 14% 12% 9% 7% 17% 6% 6% 10% 10% 17% 15% 7% 6% 5% 12% 14% 13% 8% 8% 14%

Fast Facts Always room for a King Air in the company The cheaper ones might have slipped away Weʼre surprised prices are not higher

TABLE B - JETS B eechjet 400A C hallenger 300 C hallenger 604 A stra SPX C itationJet (525) C J1 C J2 C J3 C itation II C itation Excel C itation Sovereign E mbraer Legacy 600 F alcon 2000 F alcon 900 G ulfstream GIV G ulfstream GIVSP G ulfstream G450 G ulfstream G550 G ulfstream GV G lobal Express G lobal XRS H awker 850XP L earjet 45XR L earjet 60XR

JETS Many jet brokers report activity has never been better. That’s a good thing because prices have never been better. We predict buyers in today’s market are going to look awfully smart in about a year. We have not seen anything with an uptrend, but several markets are heating up.

Challenger 604s have been one of the most downtrodden airplanes of this recession. Now, bargain pricing has made the 604 an absolutely brisk market. The Citation Sovereign, Falcon 2000 and 900 are also attracting lots of buyers. Are we moving in the right direction? You bet we are! Less than a year ago, sixteen airplanes in this study were above the 10% mark. Now less than half (eleven) linger above 10% (Table B).

Another piece of good news: For the first time since early 2008, the Vref Large Jet Index is not down – it’s flat. One quarter Advertising Enquiries see Page 8

Fast Facts Good news! Inventory not building!

After a few good quarters, availability grows Now that’s a turnaround!

Supply still exceeds meagre demand Moving in the right direction Stable pricing but no shortage Much improved Inventory bumps up, but still OK A good value for a twin-engine fanjet Turned into a good market, finally Very active in the recent quarter Late models improved, early models not Very active. Cheap models may be gone Look for these to thin out as activity grows Availability up, but can prices go any lower?

Low priced G400s not helping GIVSP market Late models flat. Good buys in early models Availability swells, but well below 10% Good plane. Stagnant market. Mercifully flat Buyers have got a few steals here Underappreciated. Could be a buzz-kill Endured some tough times, recovered well Can’t believe it’s still a buyers’ market Low prices got a bunch sold

does not a trend make, however we think some airplanes may have slipped well below fair market value. This may be causing a few sellers to say, ‘It’s cheaper to keep her’.

IN THE MIDDLE OF IT Remember “The Boy Who Cried Wolf” from Aesop’s Fables? Well, starting as early as 2009, so many have proclaimed a turnaround is near that the villagers may have stopped listening. I just want to make it clear we are not forecasting a turnaround or recovery. We are already in the middle of one!

That’s right. In the past we have gauged a recovery by the widespread price increases.

We can’t do that anymore. Why? As we have documented previously, General Aviation has evolved. The good old days are gone forever.

One group of buyers or sellers can no longer move a market up or down. Trade is www.AvBuyer.com

not centered in one region or country. Instead, our marketplace spans the globe. Brokers and bankers, buyers and sellers operate in virtually every country with electricity.

Very simply, airplanes and helicopters are bought and sold only at prices the market will bear. Rising prices may be less important than activity when determining the health of today’s market.

This global market will always have its scary influences. Ukraine and sanctions against Russia are some of the latest. Never again will our engine be firing on all cylinders at the same time. Fortunately, this global economy is one colossal engine, with lots of cylinders – more than enough to keep this industry flourishing well into the future – and we still believe General Aviation’s best days are yet to come. ❯ More information from www.vrefonline.com WORLD AIRCRAFT SALES MAGAZINE – July 2014

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ADS_Gil WolinNov06 24/06/2014 14:40 Page 1

ADS-B DEPLOYMENT

Accelerated Developments: US ADS-B Network Complete - Operations Growing.

by Dave Higdon ometimes an advance so suddenly - and somewhat unexpectedly - progresses aviation in a way that it’s impossible to miss. Occasionally, however, significant advances pass almost unnoticed, in part because they are almost invisible as an element of something larger and, despite their significance, have little visible impact at least in the short-term. So it passed in midApril when the Federal Aviation Administration announced completion of the ground network built to support Automated Dependent Surveillance-Broadcast (ADS-B).

The installed network consists of 634 ground stations and their connected network.

That ADS-B system backbone is connected, operating, and already quietly supporting the ongoing progress toward transitioning to the coming all-NextGen Air Traffic Management.

In a nutshell, NextGen uses an aircraft's self-reported precision position to track them.

The dominant position source used for ADSB is GPS refined and corrected through SBAS – Space-Based Augmentation Systems. The US calls its SBAS ‘WAAS’ (Wide-Area Augmentation System). WAAS became operational more than a decade ago in late 2003.

While the backbone build out is significant, its status remains operationally invisible to even those already equipped with ADS-B

S

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

equipment. ADS-B Out becomes mandatory on January 1, 2020 for aircraft that would today use Mode C/S transponders to give ground radar something more than a primary target. The number of aircraft with ADS-B Out installed and functional was cited in April as about 3,700. Even by rounding that up to 4,000, it still leaves tens of thousands needing to be equipped – out of about 200,000 private aircraft.

Meanwhile, FAA already employs the ground-station system; in some regions the controllers are in transitional mode with ADS-B-based service integrated with groundradar-based surveillance. Of the 230 ATC facilities across the country, 100 currently use ADS-B to separate traffic concurrently with traditional Mode C responses to groundbased secondary surveillance radar.

Completing the ground network allows the FAA to continue expanding the load carried

by ADS-B as the number of participating aircraft grows ahead of the 2020 compliance deadline.

But not all has been overshadowed among the FAA's most-recent good news on ADS-B. The FAA also made a lot of operators happy by announcing that the agency recently simplified the application and certification process to document an aircraft as ADS-B Out-compliant for operations outside the US. ❯ www.AvBuyer.com

Aircraft Index see Page 4

ADS_Gil WolinNov06 24/06/2014 14:41 Page 2

Advertising Enquiries see Page 8

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

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ADS_Gil WolinNov06 24/06/2014 15:47 Page 3

ADS-B DEPLOYMENT STATES OF CONFUSION As the roll-out of ADS-B services continues, the need to participate will increase as older ATC system hardware comes offline. Long before the ADS-B Out mandate takes effect in the US most of the rest of the world will be managing its airspace via ADS-B and the network of ground and satellite-based systems enabled to eventually provide oceanic coverage with far better precision than before.

The faster pace of ADS-B adoption in other nations meant ever-more international operators faced requirements for compliance documentation in order to operate in the ADS-B system (and the approach options it brings) of those sovereign nations. The process of applying for, and acquiring that certificate (and the expanded need to possess the documentation) started creating a bind for a growing number of operators facing a labyrinthine FAA approval-documentation process.

In the US, LPV approaches (lateral precision with vertical guidance) already outnumber the old gold-standard ILS approaches. The LPV and several other GPS-based non-precision approaches exist thanks to WAAS. These expanded GPS-based procedures predominantly serve runway ends previously unserved.

Outside the US the count of new SBASenabled instrument approaches continues to grow. But some confusion arose recently about the legality of US-registered, WAAS-equipped aircraft to fly those approaches and even to be monitored via their 21st Century ADS-B Out link (versus mid-20th Century Mode-something-transponder-based secondary surveillance radar). The bad news? Outside the US, Part 91 operators need an FAA-issued LOA to be legal in the ADS-B systems in use abroad.

But there's good news, too. With increasing numbers of business-turbine aircraft benefiting from new approach capabilities through WAAS GPS, operators traveling internationally increasingly see those approach options available outside the US. First, most of the nations involved say they'll not “ground” or launch enforcement actions should a ramp check reveal the aircraft lacks such an LOA. But they're going to want you to have it the next time.

Second, the inter-operability of US ADS-B is assured in the other participating countries – among them, Australia, Canada, England, France, New Zealand and a host of other countries that years ago started using 1090ESbased ADS-B for part, or all of their air-traffic surveillance systems. As their systems progress, approaches such as the Lateral Precision with Vertical Guidance bring an Instrument Landing System-type precision to new runway ends – without the installation costs and maintenance expense of that gold-

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With the FAA's recent paperwork reduction effort, obtaining the LOA just got simpler and faster – and is more in line with the operational benefits of WAAS GPS and ADS-B. standard ILS package.

With the FAA's recent paperwork reduction effort, obtaining the LOA just got simpler and faster – and is more in line with the operational benefits of WAAS GPS and ADS-B.

PART 91 LOA APPLICATION If this were an Independence Day promotion, the FAA would be heard boasting about the 90-percent off reduction to the agency's application for an SBAS/ADS-B Out letter of authorization – LOA. The announcer would make a huge deal of the reduction – to a mere 20 simpler pages, from about 200, more-confusing, more-complex pages.

There would follow the disclaimer, streaming across the bottom of your screen while a hushed announcer reads in a hurried voice...

“LOA's not required of US-registered aircraft with FAA-approved WAAS and ADS-B Out installations while operating within the territorial airspace of the United States; operations using ADS-B Out in other countries' airspace may require an LOA for participation; groundwww.AvBuyer.com

ing not practiced but remains a legal option.

Your mileage may vary.”

Those are all good points – particularly for the majority of US-registered, ADS-B Outequipped aircraft that fly solely domestically.

How is that possible? There is, after all, the International Civil Aviation Organization's (ICAO) Standards and Recommended Practices call for aircraft to document their ability to use approaches dependent on SBASlevel navigation. Most nations enforce that particular SARP requiring airworthiness authorities to issue LOAs for their ADS-B Outapproved operators. Well, all but the US, which filed an exception to that SARP with ICAO. So what gives? The FAA, in its wisdom, saw a different approach to allowing ADS-B Out participants into the system: File the exception with ICAO and free operators from that LOA requirement when the aircraft boasts SBAS GPS navigation capabilities using appropriately TSO'd systems. That exception also ❯ frees most foreign operators – when flying in Aircraft Index see Page 4

Southern Cross July_Layout 1 24/06/2014 12:21 Page 1

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ADS_Gil WolinNov06 24/06/2014 14:42 Page 4

ADS-B DEPLOYMENT US airspace. Nonetheless, most of their home nations require domestically-registered aircraft to hold the LOA… but not here.

US PROGRESS PICKS UP What does the completion of all 634 ground stations mean to operators moving into ADS-B equipment? From many perspectives, the completion of the network holds as much significance as the completion of the WAAS itself back in in 2007, when the last of 25 ground stations, the stationary WAAS satellites, the orbiting GPS constellation and the network that ties it all together was certified and operational.

Consider the following pieces of information about WAAS: •

•

•

•

The Wide Area Augmentation System (WAAS) uses the network of precision ground stations to provide corrections to the GPS navigation signal; The network, with each ground-reference station's position precisely surveyed, strategically covers the US and some over lapping territory ranging from Alaska, Hawaii, and Puerto Rico, Canada and Mexico; The data collected from GPS satellites is processed to collected error information and a message is developed and sent to correct any errors in the satellite signal; These correction messages are then broadcast through communication satellites to the airborne GPS receiver using the same frequency as GPS.

The operational-value equation of WAAS GPS rests on these abilities: First, an IFR-certified, IFR-installed GPS unit provides the pilot with the option to descend to an LNAV (or straight-in) approach, as well as GPS-defined circling approaches; WAAS GPS with BaroVNAV may also descend to LNAV/VNAV minima; WAAS GPS receivers can descend to LNAV, LNAV/VNAV and LPV minima.

Aviation authorities around the world have embraced the system in part because of the operational flexibility it offers and the lower operating and maintenance costs they expect to realize by turning off older, more maintenance-thirsty technologies. They've started already with Non-Directional Beacons (NDBs) in the US. Some parts of the world will continue to use NDBs until their fleets are equipped to use WAAS GPS (which will require some ground support in the form of reference stations), and that need ignores the requirement for ground networks to support ADS-B. But the operations in bush country will be happy ‘settling’ for a functional set of WAAS-GPS-based options. Even without the precision level of an LPV approach, third-world operations can still benefit significantly from WAAS GPS.

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WHAT'S NEXT FOR US ADS-B SERVICES? Before all this finally comes together into the seamless, fully integrated and full-functioning air-traffic-management network envisioned, the ground-station network must be integrated, tested and declared operational. The FAA still has a way to go, but fully expects to make that declaration a year or two ahead of the 2020 ADS-B Out deadline. There's plenty left to do.

As of April this year, 100 of the FAA's 230 air traffic facilities nationwide were using the ADS-B network to separate participating traffic. The FAA's goal is to have all 230 facilities connected and operational by the start of 2019, allowing a year (hopefully more) to fine-tune the system before the deadline requiring all aircraft operating in controlled airspace to be ADS-B Out compliant.

As of May 2014, the industry seemed less concerned at a potential failure by the FAA to meet its deadlines than it is that operators will www.AvBuyer.com

fail to meet theirs. There remains a lot of aircraft yet to comply – a large percentage of them older, but still active business-turbine aircraft. Since the first TSOs were issued and equipment began to be readily available, the rate of aircraft owners updating their ships has been so slow that concerns are arising shop capacity will be unable to handle a last-year rush.

Recent figures put at about 30,000 the number of US-registered aircraft already ADS-B Out-compliant – with tens of thousands still to go. Writing in a recent Aviation Week & Space Technology article, NextGen GA Fund managing partner Michael Dyment said that ADS-B Out upgrades need to exceed 30,000 annually to convert the GA fleet by 2020. That's about 120 per day, up from 100 per day in an FAA estimate from three months ago.

If the FAA meets its deadlines – as, surprisingly, it has at multiple milestones so far – arguments urging delaying the deadline may be a really hard sell.

Aircraft Index see Page 4

D e d i c a t e d t o h e l p i n g b u s i n e s s a c h i e v e i t s h i g h e s t g o a l s.

Weathering the regulations and taxes affecting your light airplane can be a full-time job. The National Business Aviation Association knows you can’t afford to make it your full-time job. Membership in NBAA gives you a voice and protects your interests, so you can stay focused on flying toward even greater opportunities.

Learn more at www.flyforbusiness.org.

Flying solo doesn’t mean you fly alone.

SMSJuly14_Pre-Owned Sales Jan06 24/06/2014 09:53 Page 1

SMS & SMALL FLIGHT OPS - PART 1

Scaling an SMS: Establishing Safety Management Systems in Small Operations (Part 1).

by Mario Pierobon ith new European regulations on air operations becoming mandatory by October this year the whole of the European Business Aviation community is in a final push to establish compliance with new management system requirements – namely, to establish Safety Management Systems (SMS). This is not a priority specific to Europe, however, as the publication of ICAO Annex 19 on SMS has put pressure on the whole global aviation community to implement SMS. One of the peculiarities of Business Aviation is that it is characterised by the presence of several small operators. “The risk you run with the introduction of SMS,” observes aviation safety consultant Emanuele Ghiroldi, “is to overload small operators - whether they are complex or non-complex - with a structure for safety management that has no justification in the size and complexity of operations.”

The scaling of an SMS to a small operation is indeed a significant issue, so much so that several small European operators have asked

W

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for extensions from their local authorities to comply with SMS requirements. The relative complexity of an SMS (and thus the more difficult adaptability to a small operation with relatively few employees) lies in the fact that it has more components in comparison with those of a more traditional air operator (quality) management system.

Much has already been written with regards to defining SMS - literature abounds within the industry – so the following will form the first in a three-part series to provide some guidance to the reader on how to successfully scale an SMS to reach full and practical implementation within a flight department. The functional model that will be followed to guide SMS implementation is the Input-Process-Output (IPO) model.

MANAGEMENT BUY-IN Top-down management buy-in with regard to SMS implementation is of utmost importance regardless of the size of the operator, but it is www.AvBuyer.com

even more essential when the organisation is small.

“Think of the fairly wide-spread situation among helicopter and executive operators, where the accountable manager is often also the owner, a pilot, and a technician,” Ghiroldi illustrates. “Although in the company there are other figures dedicated to the management of other sectors (airworthiness, maintenance, etc.), it is evident that the presence of the owner/manager assumes a considerable influence among the staff. How could the company’ SMS unfold if the owner/manager were not fully convinced of the necessity and usefulness of SMS?” When management is safety-sensitive, buyin is relatively easily obtained by informing them of their accountabilities. Successful implementation depends on their displayed ownership of an SMS. Infrequently, however, it can also be the case that management is not safety-sensitive, or perhaps considers safety as not being part of its accountability. Under such circumstances safety practitioners have only Aircraft Index see Page 4

SMSJuly14_Pre-Owned Sales Jan06 24/06/2014 09:54 Page 2

one way forward to establish proper SMS implementation; to instigate ‘fears’ in the minds of management personnel.

Research in behavioural economics (a discipline that considers elements of psychology in the study of economics) has demonstrated that people become more receptive when they are brought into the ‘loss domain’ – e.g. when a loss is prospected. Instead of focussing on the possible benefits of SMS implementation (the ‘gain domain’), here SMS project leaders make their business case for SMS implementation by focussing on all that is wrong within their organizations; the high-risks and operational challenges that are confronted; and the dollarcosts associated to these risks and challenges.

Only once these fears are instilled as reality in the minds of management, and SMS presented as the solution to prevent future losses, can management buy-in be obtained.

PERFORMANCE AWARENESS One component of an SMS is hazard identification and risk management, the successful function of which relies on employees critically observing operations and reporting weaknesses. Small organizations (particularly single-pilot operations) have the peculiarity that much of the information feeding the risk register of an SMS will be based on self-observation. Essentially, much will depend on how well operatives learn to become critical observers of their own practices and behaviours at work.

Just as senior management buy-in is essential with regard to SMS implementation, frontline employees must be motivated to critically observe their performance at work. This occurs when a ‘just’ culture is at work (a culture in which people are incentivised to submit air safety reports without fear of discipline or recrimination when errors are reported in good faith).

Human-factors training – which covers issues of human performance and limitation, and crew resource management (even for single pilot operations) can be valuable tools to increase operatives’ self-awareness at work.

Small organizations (particularly single-pilot operations) have the peculiarity that much of the information feeding the risk register of an SMS will be based on self-observation.

LEARNING TO MANAGE It is inevitable that SMS implementation will bring in some additional complexity, and that the management system - which for a small organisation up to now may have been just an informal one – will need to become more structured.

A more defined managerial structure for a small team of people requires a cultural shift of personnel from a business management mind-set (whereby the focus is almost exclusively on actual service delivery) to a mind-set whereby management and planning becomes a part of the duties of personnel. For this shift to happen, people must be willing to develop Advertising Enquiries see Page 8

and use additional project management along with other soft skills, on top of the technical skills which are prerogatives of their actual work.

We have focussed on the main inputs needed for SMS implementation in a small flight department within this article, but needless to say that on top of the inputs detailed, an absolute pre-requisite is the knowledge of what an SMS is. Next month, we will focus our attention on the peculiarities of SMS implementation within a small team and consider how to effectively blend Management Buy-In, Performance Awareness and Project www.AvBuyer.com

Management Skills to achieve SMS implementation.

❯ Mario Pierobon holds a Master’s Degree in Air Transport Management from City University London and works as a Safety Management Consultant and Content Producer. He regularly writes about aviation safety and is currently involved in a major airside safety research project at Cranfield University in the UK. Contact Mario via marioprbn@gmail.com WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Market Indicators

Boutsen Aviation noted an upswing in the pre-owned market, and since the successful transaction of a Falcon 7X at EBACE in May announced the sale of three additional aircraft - a Gulfstream G550, Cessna Citation CJ2 and Eurocopter AS355N. “If you look beyond inventory numbers to analyze the market deeper, you will notice the number of transactions started to increase in early 2013 and continues to do so now,� Thierry Boutsen, president, Boutsen Aviation told World Aircraft Sales Magazine. “The average selling prices for some models are still going down, but others are stabilizing - and at the same time there’s a slight decrease in inventory. Are we at a turning point? It’s too early to say, but the trend is clearly there to track.�

MI www.boutsen.com

In-Service Aircraft Technical Condition & Price An Asset Insight Index analysis of 76 fixedwing turbine models, covering 1,539 aircraft listed for sale as of April 30, 2014, evidenced a marginal improvement in Overall Market asset quality, coupled with a slight (1.1%) Ask Price increase...

Maintenance Condition (ATC Score): This improved by 5.9 AI2 basis points, raising the average Asset Technical Condition Score (Asset Insight’s rating relative to each aircraft’s optimal maintenance condition) to 5.428 from March’s 5.369 - comfortably above the MidTime/Mid-Life 5.000 level on the ATC Score scale of -5 to 10.

EXPOSURE TO PRICE RATIO (“ETP RATIO�)

Financial Condition (ATFC Score): Average Asset Technical Financial Condition Score (grading scheduled maintenance events cost associated with the aircraft ATC Score) also improved by a nominal 2.1 AI2 basis, increasing to 4.894 (versus the previous month’s 4.873) and inching closer to the Mid-Time/Mid-Life 5.000 level (on the 0 to 10 ATFC Score scale).

MARKET OUTLOOK

Financial Exposure (ATFE Value): Average Asset Technical Financial Exposure Value (the aircraft’s accumulated maintenance financial exposure) was the only Asset Insight Index component not to show improvement, increasing nearly $27k and raising the average aircraft’s accrued maintenance expense to just over $1.3 Million.

Large Jets managed to stay slightly ahead of Medium Jets in overall asset quality. Small Jets remained in third position, while Turboprop assets - although a bit improved over last month’s figures - still generated the lowest ratings.

Spread in the ratio of maintenance Financial Exposure to aircraft Ask Price (ETP Ratio) widened again this month, but the Overall Market average for the aircraft tracked decreased slightly, from 41.8% to 40.8%.

Asset Insight considers anything over 40% to be an excessive ATFE Value in relation to the Aircraft Ask Price and, absent a change in asset mix, expects “value� (asset quality compared to ask price) to be negatively impacted until at least mid-summer - a time when major airframe maintenance is often conducted.

This month’s Overall Market Asset Insight Index, coupled with a slight (1.1%) Ask Price increase, provides generally positive news for both buyers and sellers. Large Jets offered good overall asset quality at Ask Prices below the group’s 12-month average – although average prices did increase to $16.39m versus last month’s $15.95m. Medium Jets demonstrated improved asset quality and a well-balanced Exposure to Price Ratio, primarily due to an Ask Price increase that, at $3.6m, reflects the group’s highest average Ask Price this year.

Small Jets reflected average asset quality with relatively high maintenance exposure compared to Ask Price, but impressive price stability. Finally, Turboprops continued to register below-average asset quality, problematic financial exposure, and lower Ask Prices.

MI www.assetinsightinc.com

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

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100

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Plane Sense on Refurbishments

TURBOPROPS

Next month: Don’t miss our

â–ź

Boutsen Notes Market Up-Trends

Aircraft Index see Page 4

CIBAS July_Layout 1 24/06/2014 12:24 Page 1

MarketIndicators June14_Layout 1 24/06/2014 11:34 Page 2

2

Market Indicators

BizAv Activity - Europe May saw a 17% increase on April’s Business Aviation flight activity, however, year-on-year (YOY) there were 2.2% fewer departures in May, and YTD the market is 0.6% below 2013 levels, observes WINGX. The latest monthly Business Aviation Monitor reveals that compared to last May the largest country market – France - lost 2.9% activity, with other significant markets such as Italy, Spain and Switzerland slipping back. The former 'growth stars', Russia, Ukraine and Turkey fell by up to 30%.

There was some YOY country growth - notably in Germany and the UK - and also in smaller markets such as Portugal, Greece, Belgium and the Czech Republic. There was also strong growth in arrivals to Europe from North America and the Middle East.

The turboprop and piston fleets both lost ground (not as much as business jet activity) down 2.3% overall, but acutely negative in Ukraine (-34%). Jet flights were up 70% in Portugal, due mainly to the Champions’ League Final.

Intra-European flights fell, but domestic activity was up in leading markets such as Germany, UK and Switzerland. Flights to non-European destinations rose 9%. Meanwhile connections with North Africa, South America and India are well up YOY. Richard Koe, Managing Director of WINGX Advance concluded, “The combination of the EU’s uncertain economic recovery and the instability in its peripheral regions is continuing to impede any generalised recovery in Business Aviation activity. After some growth in Q1, Q2 is resembling the pattern of the last 18 months’ recession: a vibrant demand for ultra-long range aircraft; a migration of cost-conscious customers to VLJs; and in between, waning demand for the excess capacity of midsize and light jets”.

MI www.wingx-advance.com

Flight Activity Summary US & Europe We’re not seeing any dramatic changes in flight activity, notes Avinode Managing Director Oliver King. In the US, activity is increasing slightly while European activity is dropping, especially when it comes to Light Jet usage. An aircraft category that is doing extremely well in both Europe and the US is Ultra-Long Range, with a year-over-year number of +10% in both regions.

The US has been in slow - but constant recovery since 2009 while Europe has been struggling since the financial crisis. Route

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WORLD AIRCRAFT SALES MAGAZINE – July 2014

BizAv Activity - US & Canada Reviewing May flight activity month-overmonth, flights increased from April to finish the period up 2.4% overall. All operational categories managed to post month-overmonth increases with the Part 135 segment posting the largest gain, up 3.6% from April.

Part 91 and fractional flight activity posted increases of 1.7% and 2.0% respectively.

Aircraft category results were up across the board with turboprop aircraft posting the largest monthly increase, up 6.0% from April.

Small, mid-size and large cabin aircraft posted increases of 0.6%, 0.7% and 1.0% in that order. The largest single month-overmonth increase occurred in the fractional turboprop market which finished the month up 21.2% (attributable primarily to PC-12 operator PlaneSense).

Reviewing year-over-year flight activity (May 2014 vs. May 2013), TRAQPak data indicates that May 2014 posted an increase of 1.9%. The results by operational category

showed an increase in the Part 135 segment, up 1.9% year-over-year. The fractional market posted an increase for the second month in a row, up 0.2% from May 2013 and the Part 91 market showed activity increasing 2.3% year-over-year.

Flight activity by aircraft category was up for the jet market, but down for the turboprop market (ARGUS believes that the turboprop market is in the final month of the Avantair impact). Small cabin aircraft posted the largest year-over-year increase, up 4.7%.

Large and mid-size cabin aircraft posted increases 4.3% and 2.3% in that order. The turboprop industry posted a year-over-year decrease of -1.6%.

The largest growth for an individual segment occurred in the small cabin fractional market, with an increase of 30.6%; this marks the fifth month in a row that this segment has seen the largest growth year-over-year.

MI www.argus.aero

May 2014 vs April 2014 T urboprop S mall Cabin Jet M id-Size Jet L arge Cabin Jet A ll Combined

P art 91 4.8% 0.6% -1.2% 1.1% 1.7%

P art 135 6.8% 1.8% 2.7% 0.8% 3.6%

F ractional 21.2% -2.7% 1.6% 0.6% 2.0%

A ll 6.0% 0.6% 0.7% 1.0% 2.4%

P art 135 0.9% 1.5% 1.8% 6.5% 1.9%

F ractional -45.1% 30.6% 2.6% 8.1% 0.2%

A ll -1.6% 4.7% 2.3% 4.3% 1.9%

M ay 2014 vs May 2013 T urboprop S mall Cabin Jet M id-Size Jet L arge Cabin Jet A ll Combined

P art 91 1.7% 2.6% 2.5% 2.6% 2.3%

analysis indicates that business-related traffic is coming back in the states (NE region, for example) while Europe is still driven by leisure related traffic (Nice being a typical example) while London and Germany are all struggling. Although 2014 has started OK, Avinode is still concerned with the effect the Russia/Ukraine crisis will have on flight activity numbers.

Age of Aircraft There are significant differences between requested age of aircraft in the US compared to Europe. In Europe, 9% of requests are for aircraft older than 20 years. That number is 41% in the US. The average age of all requested aircraft is almost twice as high in the US (18.2 years) compared to Europe (9.7 years).

www.AvBuyer.com

Mission Use The level of occupancy is between 48% and 55% on average (55% for Heavy Jets and 48% for Light Jets) according to data from 2013, and Avinode suggests this shows the number of seats is clearly not a deciding factor when chartering an aircraft.

It’s not only passenger numbers that indicate airplanes aren’t being used to their full capacity. Avinode also sees it in the distance the aircraft are flying. Long-range aircraft are recommended for flights with a distance of +5,000 nautical miles, but in 2013 the actual average distance was 1,270 nautical miles, suggesting the planes are only using a fifth of their capacity. They’re not being used for the mission they were designed for.

MI www.avinode.com

Aircraft Index see Page 4

MarketIndicators June14_Layout 1 24/06/2014 11:40 Page 3

Market Indicators

3 1Q 2014 Avionics Market Report

IBA Re-Examines BizJet Values around US$2.5m each year.

So have high brand business jets values held up during these challenging times? In a few instances yes, those customers who can afford the ‘must have’ G650s for example.

But based on the majority of the available business jets which include many that are five years old and more, such as G450s, G550s, Globals and BBJs, IBA would have to say no.

“When you consider that a 2001 delivered Global Express would probably have cost the best part of US$43m in a pre-911 and credit crunch era, today that same aircraft would be doing well to attract a value of little more than US$17m. If you were to park a 1996 delivered GIV-SP alongside a recently delivered G450 many wouldn’t be able to tell the difference between the two. Yet one is probably still worth around US$36m, the other perhaps US$6.5m.”

Does that mean business jets are poor investments? “Absolutely not, as leading experts such as Minsheng Financial Leasing will quickly point out,” concludes McDonald. “But IBA does not expect to see the same levels of business jet value buoyancy that were evident in 1997 and 2007. Times have changed and we suspect most industry observers within the corporate sector will agree.”

MI www.ibagroup.com

MI www.aea.net

▼

The International Bureau of Aviation (IBA) has taken another look at some of its longterm value forecasts, and with virtual unanimity, presents a more conservative view on how it depreciates business jets...

“Due to relatively tight production numbers and therefore constrained supply, aircraft such as Boeing BBJ2, BBJ3 and Embraer Lineage 1000 appear to be holding well in terms of market value,” noted Jonathan McDonald, ISTAT Certified Appraiser & Senior Aviation Analyst, IBA. “We are less bullish on the smaller Boeing BBJ where much of the fleet is now over ten years old and therefore inherently quite heavily depreciated.”

According to IBA, Gulfstream products make an interesting analysis. On the one hand, Gulfstream G650s appear to trade at premiums. Higher specifications help boost the values of Gulfstream’s flagship, but basically limited supply and a desirable aircraft means that UHNWIs are prepared to pay above list price either for a young used aircraft, or an earlier delivery slot.

In contrast, IBA would probably value a more mature G450 (say 2006 model) at around US$17.5m. Considering that one of these aircraft probably cost around US$36m when new eight years ago - a time when customers were paying heavy premiums in a boom economy - that equates to losing

In the first three months of the year, total worldwide Business and General Aviation avionics sales amounted to more than $651 million, reflecting an 11.2 percent increase in sales compared to 1Q 2013 (more than $586 million), according to AEA. The dollar amount reported (using net sales price, not manufacturer's suggested retail price) includes all Business and General Aviation aircraft electronic sales (all component and accessories in cockpit/cabin/software upgrades/portables/noncertified aircraft electronics; all hardware (tip to tail); batteries; and chargeable product upgrades) from the participating manufacturers. The amount does not include repairs and overhauls, extended warranty or subscription services.

Of the more than $651 million in total sales in 1Q, more than $330 million came from forward-fit (avionics equipment installed by airframe manufacturers during original production) sales and comprised 50.7 percent of total sales. Retrofit (avionics equipment installed after original production) sales amounted to more than $321 million (49.3 percent).

The 1Q 2014 report marked the first time participating companies were asked to separate their total sales figures between North America (U.S. and Canada) and other international markets. According to the companies that participated in this breakdown, 62.9 percent of the sales volume occurred in North America, while 37.1 percent took place internationally.

THE WORLD’S FINEST Business Jets, Turboprops and Helicopters for sale at Advertising Enquiries see Page 8

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and lots more...

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Market Indicators

Private Jet Market: Europe vs US Given that North America and Europe still represent over 90% of all Business Aviation flight activity, a side-by-side comparison – courtesy of Mark Twidell, PrivateFly - offers a fascinating insight into these key private jet markets…

Although both regions have similar size economies, private jet flight activity in the US is 3.5 times bigger than Europe. This is down to how the US differs to Europe in terms of geography and airline connectivity as well as its culture and attitudes towards Business Aviation. US customers are flying again more readily post-recession, and the US market returned to growth at the end of 2013, whereas Europe remained slightly down (although Q1 2014 saw 3% growth).

Fleet Size/Expansion Together, the US and Europe hold 77% of the global fleet. With 4.5 times the number of private jets registered in US, in 2013 the US took four times as many new deliveries of business jets and turboprop aircraft as Europe.

Interestingly, it is Europe's fleet that is more utilised at 261 flights per aircraft per year, compared to the US at 207.

Flight Peaks & Patterns A marked difference in ‘seasonality’ shows when monthly flight activity is compared.

While Europe shows a strong annual summer peak (11% annual flights occur in July), hinting Europe's private jet fleet operates a higher proportion of leisure flights, the US is a much more sustained year-round market.

port is Paris Le Bourget, and its top airports are clustered more closely together. Geneva and Nice Cote D'Azur are the next busiest.

In both regions, connectivity is king, with over ten times as many private jet airports compared to scheduled airlines.

Key Airports & Routes Teterboro is the busiest private jet airport in the world. With Van Nuys in LA the next busiest, activity in the US market seems more widespread. Europe’s busiest private jet air-

Pricing Comparative Although the most popular routes in each region are 50 minute flights, pricing is different. LA to Las Vegas costs 25% less on the same aircraft type as the top European city

pair of Milan to Rome. A Citation XLS will typically cost about €500 less hourly to fly en route in the US. Price of jet fuel, on average in the US, is more costly than in Europe ($5.20 per US gallon, versus $3.50 in Europe), and is also taxed in the US market for commercial flights.

Overall in the US, relative private jet charter price savings come from a larger market and infrastructure; less bureaucracy; and lower crew and airport fees.

MARK TWIDELL,

■

PRIVATEFLY Summary One common aspect of both markets is fragmentation. With thousands of aircraft operated by thousands of companies, both markets are heavily brokered. PrivateFly is integrated with over 7,000 aircraft worldwide and is bringing both Europe and the US (and other regions) together in one online, global marketplace.

MI www.privatefly.com

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Aircraft Index see Page 4

BusAviationNewsJuly_Layout 1 24/06/2014 09:57 Page 1

BizAv Aircraft Review Aerion Recently SSBJ developer Aerion introduced a larger configuration for the first in a family of supersonic business jets. The company is growing its technical organization and preparing to enter into industrial collaborations.

The Aerion AS2 retains a supersonic natural laminar flow wing, the key enabling technology behind practical and efficient

Airbus Airbus Corporate Jets introduced a new model of its ACJ319. Known as the ACJ319 Elegance, it has received strong interest, particularly from the Asian market.

The new concept relieves the customer of some of the endless design decisions in a new modular cabin while still allowing them to choose from a wide range of lounge, of-

Airbus With the number of billionaires in the Middle East forecast to grow from 150 in 2007 to around 220 in 2017, Airbus says it is more important than ever for those doing business with them to have a greater understanding of their purchasing patterns.

One of the findings of a new study is that when billionaires travel, they want to

Bell Helicopter The delivery of a Bell 429 for operation by Heli-Alps, a Swiss-based company offering corporate transport, sightseeing and aerial photography was announced recently. This was significant because it is the first Bell 429 to be configured for VIP transport in Switzerland.

Customized at the Bell Helicopter facility in Prague, Bell states that the 429 offers

Boeing According to Boeing Business Jets, it has outperformed the competition in the widebody market segment for private business jets, with widebody airplane orders now accounting for more than one-third of Boeing’s total VIP orders, as outlined by Steve Taylor, president, Boeing Business Jets.

Since the 787 and 747-8 became available Advertising Enquiries see Page 8

www.aerionsupersonic.com

supersonic and high-subsonic flight. The aircraft has a larger cabin, with cross-section dimensions roughly equivalent to those of today’s long-range business jets. It also has a tri-jet configuration that confers a number of benefits, especially for runway performance, external noise properties and maximum range. The company anticipates certification in or about 2021.

www.airbus.com

fice, dining and conference configurations.

While Airbus acknowledges that some of its customers appreciate the challenge of making all the decisions required to completely outfit an aircraft, such as would be required for the fully customizable version of the ACJ319, there are others that don’t want to invest the time and effort.

www.airbus.com

take their lifestyle into the air, and that often means travelling with an entourage. Giving wings to their lifestyle, whether it be work, rest or play, is important to billionaires because it helps them make the best use of their time, in comfort.

www.bellhelicopter.com

exceptional flight performance with a fully integrated glass cockpit, advanced drive system and best-in-class Wide Area Augmentation System (WAAS) navigation and Instrument Flight Rules (IFR) capability.

Additional safety features include a collective mounted throttle, damage tolerant hub and rotor system, and energy attenuating seats. www.boeing.com

for BBJ conversion in 2006 the response to Boeing’s VIP widebody product line has been strong, and business leaders and heads of state customers overwhelmingly choose widebody Boeing VIP airplanes.

In 2014, the first BBJ 747-8 will enter into service and be operated by an undisclosed customer. ❯ www.AvBuyer.com

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BizAv Aircraft Review

Bombardier The achievement of key product development milestones on the Global 7000 and Global 8000 aircraft program have been announced

by Bombardier, with the start of production and assembly of major structures for the first Flight Test Vehicle (FTV1) of the Global 7000 and Global 8000 aircraft program.

Set to enter-into-service in 2016 and 2017

Cessna Milestones were announced at Cessna in the certification program of the new Cessna Citation Latitude. The FAA has granted a Type Inspection Authorization certificate and the first production unit has joined the flight test program.

The TIA for the Latitude is a significant step forwards as it allows Cessna to begin

www.bombardier.com

respectively, both jets will have the ability to reach more destinations nonstop than ever before.

The Global 7000 will set the standard for a new category of large business jets with a range of 7,300nm, while the Global 8000 will be the world’s farthest-range business jet delivering 7,900nm. www.cessna.com

accumulating flight hours that will apply toward official certification. More than 60 flights and 130 hours have been flown in the Citation Latitude test program to date.

Cessna engineers developed an all-new fuselage for the Citation Latitude. Certification for the mid-size jet is expected in the second quarter of 2015.

Daher-Socata Showcasing its latest TBM 900 at the recent Cannes AirShow on the French Riviera, Daher-Socata says its new turboprop has attracted significant attention among pilots, owners and operators with more than 47 orders. 15 TBM 900s have already been delivered to their customers as of May 31st.

With a cruise speed of 330KTAS, the

Embraer Phenom success continues as Embraer announced that it has delivered the 500th Phenom unit (a Phenom 300).

In the five and a half years the Phenom models have existed, they have been introduced into 37 countries and the airplanes have collectively accumulated more than 370,000 flight hours.

Piaggio The Avanti EVO, an upgrade of the Avanti twin turboprop, has been announced by Piaggio Aero. With redesigned engine nacelles, winglets, a reshaped front wing and five-blade composite Scimitar propellers, the EVO will provide better performance, enhanced safety features and greater passenger comfort compared to the Avanti II. It will 106

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www.tbm.aero

TBM 900 combines typical light jet speed, with operating costs of a single-engine turboprop. Nicolas Chabbert, Senior VP, Daher-Socata’s Airplane Business Unit commented, “The low noise level places the TBM 900 in the ‘quiet’ category, which is definitely key to access some sensitive airports, such as Cannes.”

www.embraerexecutivejets.com

The Phenoms are produced at Embraer's facilities in São José dos Campos, Brazil and Melbourne, Florida, and while Embraer has delivered about 300 Phenom 100s and 200 Phenom 300s, the Phenom 300 will likely surpass the Phenom 100 in deliveries as Embraer is currently shipping about twice as many of the larger Phenom.

www.piaggioaero.com

also be significantly quieter externally.

With the improved performance the EVO will climb 3 percent faster to its ceiling of 41,000 feet, and the range in standard configuration is 1,470nm, a 17-percent improvement. Piaggio has also introduced an optional configuration that extends the EVO’s range to 1,720nm. www.AvBuyer.com

Aircraft Index see Page 4

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BizAv People

John Bingham

Michael Choo

Stuart Hatcher

John Bingham - has left Piaggio America, where he was president and CEO. Giuliano Felten, Piaggio Aero’s executive senior vice president of civil sales, was immediately appointed to the position of president and CEO. Michael Choo - is appointed to the newly created position of regional sales manager for Asia, on behalf of Universal Avionics. In this newly created role, Choo is responsible for Universal Avionics’ sales throughout Asia and Australia.

Trevor King

Arnaud Martin

Andrew Wilson

Trevor King - is named general manager of Landmark Aviation’s London Luton Airport location. He was formerly the business development director for Inflite Jet Centre.

Arnaud Martin - joins Comlux as executive vice president of the Comlux Group, and board member. In his previous position as vice president of the Airbus Corporate Jets Programs, Martin was in charge of the development and production of Airbus VIP aircraft.

Ed Swearingen - legendary aircraft designer - passed away re-

Dr. Lewis “Bernie” Gratzer - former vice president of technology at Aviation Partners, recently passed away. Gratzer joined Aviation Partners when the company was formed more than two decades ago to work on a blended winglet for the Gulfstream GII.

Dr. Stuart Hatcher - head of valuations & risk at International Bureau of Aviation - has successfully passed his senior certified appraiser exams joining an elite group of only sixteen other appraisers worldwide to hold this position.

Michael King - joined SimCom Training Centers as chief operating officer. In his role as COO, King will be responsible for all aspects of SimCom’s training operations. A seasoned business leader, King spent more than two decades with FlightSafety International.

cently, aged 88, sadly on the eve of the resumption of production of his light jet the SJ30 by current program owner SyberJet. In 1986 he unveiled the small, single-pilot SJ30 powered by a new breed of turbofan engine by Williams International that would propel the airplane fast and far with a performance that outstripped most business jets of the era. Swearingen who was also a pilot, designed 30 airplanes, and was reportedly working on his 31st when he died.

Andrew Wilson - has joined the Tempus Aircraft Sales & Service team as Pilatus sales director, Southern California. Wilson began his career in aviation as manager and chief pilot of a Pilatus PC-12 based in the Texas Hill Country. His background in finance allowed him to manage a large financial portfolio for the same company during that time.

BizAv Events 2014 If you would like your event included in our calendar email: sean@avbuyer.com

Rotary Operations Conference AOPA Fly – In Farnborough Int’l Airshow THE ELITE LONDON EAA: AirVenture Oshkosh LABACE 2014 Business Aviation in Latin America ( BALA) AOPA Fly – In Jet Expo Business Aircraft Europe (BAE) Mediterranean Business Aviation NBAA: Business Aviation Regional Forum AOPA Fly – In Central Asian Business Aviation AOPA Home Coming Fly – In

Jul 9 Jul 12 Jul 14 – 20 Jul 25 – 26 Jul 28 – Aug 3 Aug 12 – 14 Aug 14 Aug 16 Sep 4 - 6 Sep 10 – 11 Sep 12 Sep 18 Sep 20 Sep 25 – 26 Oct 4

London Heliport, UK Plymouth, MA, USA Farnborough, UK London Biggin Hill Airport, UK Oshkosh, WI, USA Sao Paulo, Brazil Sao Paulo, Brazil Spokane, WA, USA Moscow, Russia London Biggin Hill Airport, UK Sliema, Malta Dallas, TX, USA Chino, CA, USA Almaty, Kazakhstan Frederick, MD, USA

■

www.miuevents.com www.aopa.org ■ www.farnborough.com ■ www.theeliteevents.com ■ www.airventure.org ■ www.labace.org.br ■ www. aeropodium.com ■ www.aopa.org ■ www.jetexpo.ru ■ www.miuevents.com ■ www.aeropodium.com ■ www.nbaa.org ■ www.aopa.org ■ www.aeropodium.com ■ www.aopa.org ■

THE WORLD’S FINEST BUSINESS JETS, TURBOPROPS & HELICOPTERS FOR SALE AT Advertising Enquiries see Page 8

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EXPERIENCE. KNOWLEDGE. SUCCESS.

Every deal is unique and requires creative solutions to complex problems in order to make it a success. With over 50 years of experience and deep knowledge of the industry, we don’t just get the deal done, we get it done right.

GKGLAW.COM • (202) 342-5251

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Aircraft Index see Page 4

CAI 1991 Socata TBM-700A July 26/06/2014 09:50 Page 1

S H O W C A S E

1991 Socata TBM-700A Serial Number: Registration: Airframe TT:

3 OO-TBM 3563

Battery, OAT Gauge, Fuel Flow Indicator & Totalizer. Aircraft is Hangared at EBLG in Belgium

Engines PRATT & WHITNEY PT6A-64 ONLY 483 HOURS SINCE OVERHAUL! (OVERHAULED IN 2008)

Interior Partially refurbished 2007! 6-place custom seat deluxe interior is completed in gray leather with red bordeaux carpet and dual storage cabinets

Propeller HARTZELL 4 BLADED 161 Hours SPOH – December 2010

Exterior Upper Fuselage completed in white with lower fuselage in grey and Red and Green Accent Stripes

Avionics GARMIN GNS-530 and GNS 430 AP KING KFC-275 W/PRESELECT KING KFC-275 KING KN-63 DME KING KR-87 ADF RADAR BENDIX RDS-81 SANDEL EHSI SN3500 GTX 330 Mode 'S' Transponder GMA 340 Audiopanel Full Co-pilot Panel (Battery Back up GYRO Attitude Indicator) Features Second Owner Since New, Always Hangared and No Damage History. Known Incing (Boots, Electric Propeller, Windshield Heat, Pitot/Stall and Inertial Separator, Digital Chronometer, Emergency Locator Transmitter, Lead-Acid

Maintenance Under EASA’S CAMO SMETS Aviation (EBZW) Airworthiness Certificate valid for VFR/IFR flight till January 2013.

Landing gear on long-life program following overhaul in 2007 Actuators Overhauled March 2012 New windshields fitted March 2012 New de-ice boots fitted March 2012 Modifications T700A512005000001 (Reinforcement Cadre C2) and T700A532045900100 (Reinforcement Cadre C10) Completed in 2008.

Lead/acid battery installed in March 2012 (with external battery minder / charger and connection kit)

J.P. Hanley Corporate AirSearch Int'l Inc. Palm Beach, South Florida

Advertising Enquiries see Page 8

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Palm Beach Tel: Fax: Cellular: Email: Website:

(561) 433-3510 (561) 433-3842 (561) 289-3355 jp@caijets.com www.caijets.com

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Sun Jet International Citation III June 25/06/2014 12:27 Page 1

S H O W C A S E

1990 Citation III Serial Number: Registration:

650-0189 XA-RGS

• CESCOM (Cessna Computerized Maintenance Tracking Program) • Terrain Awareness and Warning System • Traffic Collision Avoidance System (TCAS) • Auxiliary Power Unit • Thrust Reversers Engines Engine Model: TFE731-3C-100S, On Condition TBO: No Engine Maintenance Program: Unknown - Unknown Auxiliary Power Unit (APU) Model: T62-T40C3A, Serial #: HA0001 Avionics ADF: Collins ADF-462; AHRS: Honeywell AH-600 AHRS; Avionics Package: Collins Pro Line II; Communication Radios: Dual Collins VHF-22A; CVR: Fairchild; DME: Dual Collins DME-42; FMS: Global GNS-XLS; Hi Frequency: King KTR-953; Navigation Radios: Dual Collins VIR-32; Radar Altimeter: Collins ALT-55; RMI: Sandel ST-3400; TAWS: Sandel ST-3400; TCAS: TCAS; Transponder: Dual Collins TDR-90; Weather Radar: Honeywell Primus 650

Maintenance Inspection: Always hangared. Complete logbooks.

Engine CSN LE/RE: 1612 / 1612. -3C engine mod & MPI's c/w 01/94. WEIGHTS (kgs.): MGTOW 9988 Interior Number of Passengers: 8 General: Eight passenger seats, two crew seats Exterior Colors: Matterhorn white, w/platinum & blue stripes; General: Matterhorn white, w/platinum, dark blue, & misty blue stripes Equipment General: Sundstrand T62-T40C3A APU Additional Cockpit Equipment General: Honeywell AZ-810 air data computer, Artex ME 406 ELT, Honeywell FZ-800 flight guidance computer Asking: Make Offer

Sun Jet International Inc 1770 SkyPlace Blvd, San Antonio, TX 78216

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Eugenio Gonzalez Tel: +1 (210)667-8180, +1 210.805.3141 E-mail: info@sunjetinternational.com www.sunjetinternational.com Aircraft Index see Page 4

Sun Jet International Citation V Ultra June 25/06/2014 12:28 Page 1

S H O W C A S E

1996 Cessna Citation V Ultra Serial Number: Registration: Airframe TT: Landings:

560-0375 XA-SEB 11,738 9596

Engines JT15D-5D 3,500 Hrs. TBO Eng 1 (L) 10,593 Hrs. TTSNEW Eng 2 (R): 11.125 Hrs. TTSNEW 564 Hrs. SHO 559 Hrs. SHO Avionics ADF: Dual DME: Dual AFIS: Global AFIS CVR: Fairchild A200S FMS: Global GNS-XL w/GPS Hi Frequency: King KHF-950 TCAS: Honeywell TCAS-I Radar Altimeter: Collins ALT-55B SATCOM: AirCell ST3100 w/handsets Weather Radar: Honeywell Primus 650 TAWS: Honeywell Mark VII EGPWS Autopilot: Honeywell Primus 1000 IFCS EFIS: Honeywell Primus 1000 3-tube 8x7-inch Flight Director: Honeywell Primus 1000 IFCS Navigation Radios: Dual Honeywell Primus II Transponder: Dual Honeywell XS-852 Mode S Communication Radios: Dual Honeywell Primus II

Additional Ski Tube Thrust Reversers Dual 100 VAC Outlet Single Point Refueling Aircell ST3100 SATCOM 3-Book Navigation Chart Cases Heads-Up PBS-400 Cabin Briefer Artex 3-Frequency ELT w/Nav Interface Interior The Interior Consist in Foundation Townsend Leather Seating, Center Club Configuration, Clay Patterned Sidewalls, Kalogridis Ultra Pebble Cut Pile Carpeting, Forward Deluxe LS Refreshment Center, Figured Walnut High-Gloss Wood Veneer Cabinetry w/Satin Champagne Gold Plating, Executive & Slimline Tables; Entertainment Equipment: B7D 2700 Display, CD Audio System, Heathered Satin Window Reveals, Satin Champagne Gold Plating, Indirect Lighting, Belted Lav Seat; Freon Air Conditioning Exterior Snow White w/Charcoal Gray Metallic, Las Vegas Gold Metallic & Coral Red Pear Stripes

Sun Jet International Inc 1770 SkyPlace Blvd, San Antonio, TX 78216

Advertising Enquiries see Page 8

www.AvBuyer.com

Eugenio Gonzalez Tel: +1 (210)667-8180, +1 210.805.3141 E-mail: info@sunjetinternational.com www.sunjetinternational.com WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Sun Jet International Learjet 35A June 24/06/2014 10:00 Page 1

S H O W C A S E

1982 Learjet 35A Serial Number: Registration:

35A-469 N35JN

• Engine Maintenance Program • RVSM • Thrust Reversers • Increased MPI Interval • Terrain Awareness and Warning System • Gross Weight Increase Mod Engines Engine Model: TFE731-2-2B, On Condition TBO: No Engine Maintenance Program: Honeywell Engines & Systems - MSP Gold 564 Hrs. SHO 559 Hrs. SHO Avionics Altimeter: Digital; Flight Rules: IFR; FMS: Honeywell FMS; TAWS: Sandel TAWS

Maintenance Maintained: FAR Part 135 Inspection: RVSM. 12-Year inspection c/w 12/05.

6000 Main Landing Gear inspection c/w at 5815 cycles.; Airframe Maintenance Program: Unknown Airframe Maintenance Tracking Program: Unknown Certification: RVSM Equipment Modification: Century III wing w/Softflite; General: Aeronca thrust reversers, executive door, auxiliary cabin heat Additional Cockpit Equipment Modification: Century III wing w/Softflite; General: Aeronca thrust reversers, executive door, auxiliary cabin heat Asking: Make Offer

Interior General: Light tan leather LearJet 31A-style interior; Seating: Mid-cabin 4-place club, 3-place couch, forward LS lav seat; Refreshment Equipment: Deluxe mid-cabin galley; Lavatory: Forward LS Exterior Colors: Matterhorn white w/black & gold accents

Sun Jet International Inc 1770 SkyPlace Blvd, San Antonio, TX 78216

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Eugenio Gonzalez Tel: +1 (210)667-8180, +1 210.805.3141 E-mail: info@sunjetinternational.com www.sunjetinternational.com Aircraft Index see Page 4

Global Jet Falcon 900C July 25/06/2014 11:01 Page 1

S H O W C A S E

CO-BROKERAGE WITH JETCRAFT CORP

Falcon 900C Airframe TT: Landings:

3667 1349

• JAR OPS 1 certified Airframe & Engines On MSP Gold Honeywell TFE 731-5BR-1C Engine#1: S/N P101423 Engine#2: S/N P101424 Engine#3: S/N P101425 APU On MSP Gold Honeywell, GTPC36-150F S/N P-457 Avionics Communications: VHF Communication – Dual Collins VHF-422C HF Communication – Dual Collins HF-9000 SELCAL Decoder – Coltech (2 channels) Flight deck Audio – Triple Baker B1045 Emergency Locator Transmitter – Socata ELT 96-406 Facsimile – Brother T-96 Airborne Flight Information – Honeywell AFIS SATCOM Aero-H+ – Thrane & Thrane TT-5000 HSD+ Navigation: VOR/ILS Marker – Dual Collins VIR-432 Automatic Direction Finding – Dual Collins ADF-462 Flight Management – Triple Honeywell FMZ2000 (w/Dual GPS) Pulse: Weather Radar – Honeywell Primus 880 w/:Dual Controllers Distance Measuring Equipment – Dual Collins DME-442

Mode S ATC Transponder – Dual Collins TDR-94D Radio Altimeter – Honeywell AA-300 Traffic Alert and Collision Avoidance – Collins TCAS 4000 Flight Control: Flight Control – Honeywell Electronic Display w/MAU – Dual Honeywell Reference sensors: Air Data – Dual Honeywell AZ-840 Standby Magnetic Compass – Smiths Emergency Attitude/Provider – JET/Securaplane Data Acquisition and Maintenance System – Honeywell Laser Inertial Reference – Triple Honeywell/ Securaplane Recording: Clocks – Dual Davtron Cockpit Voice Recorder – Honeywell SSCVR Flight Data Recorder – Honeywell SSFDR Quick Access Recorder – CTS Inspection Maintenance Station: Dassault Falcon Service Interior • The interior configuration features accommodation for 12 passengers.

• Beige leather with wood elm “Pommele Eucalyptus” • Forward lavatory • Forward cabin with four single seats • Mid cabin with two rows of double seats, one dining table and low height storage cabinets • Aft cabin with one single seat and one three place divan • Aft lavatory 12 seats certified for occupancy during taxi, take off and landing

Global Jet Monaco Florian Van Der Cruyssen, Aircraft Sales Director, L'Albatros, 9, bd Albert 1er, MC - 98000 Monaco

Advertising Enquiries see Page 8

www.AvBuyer.com

Cabin Systems: • MH Entertainment & Environment Master Control System – Baker • Cabin Digital Switch Controls – Baker • Video Displays/Monitors • Cabin Monitor 15” LCD – Baker • Cabin Monitor 20” LCD – Baker • Cabin Video Plug-il Receptacle – Rosen • Cabin Video Plug in (5.6”) LCD Monitor – Baker • Cabin Video DVD Multi-Region & Single CD Player – Baker • Cabin Display – Airshow 400

Tel: +377 97 77 01 04 E-mail: florian.vandercruyssen@ globaljetmonaco.com www.globaljetconcept.com WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Global Jet Global Express June 25/06/2014 11:02 Page 1

S H O W C A S E

2005 Global Express Serial Number: Airframe TT: Landings:

9147 4515 1513

• JAR OPS 1 certified Airframe & Engines Rolls Royce, BR700-A2-20 Engine#1: S/N 12407 Engine#2: S/N 12408 APU Honeywell, RE220GX100E S/N P253 Avionics 2x E/R HF/com Rockwell Collins 3x E/R VHF/Com Honeywell 2x E/R VHF NAV Honeywell 2x E/R VHF COM ATC Honeywell ELT Artex 2x DME Honeywell 2x Radio altimeter 4000 Rockwell Collins TCAS II mod 7 Honeywell Weather Radar Honeywell GPS Honeywell Satcom MCS-6000 Honeywell 2x ADF Honeywell TCAS Honeywell GPWS MNPS RVSM BRNAV RNP 5 SELCALL Decoder SECURAPLANE SYSTEM HUD Thales

SATCOM 2100/6100 Satellite Communications Sys Interior • There are four single seats, a conference group of two sets of double seats, and two three-place divans. The Single Seats and Double Seats incorporate seat belts and shoulder harnesses for passenger safety. Each of the divans has three seat belts and two shoulder harnesses.

• For taxi, takeoff, and landing, the divans have approved seating for two passengers.

• The Forward Wardrobe is located forward of the passenger entry door. The wardrobe houses a jumpseat for a crew member.

• The right-hand credenza in the mid cabin houses the entertainment equipment.

• There is a forward-hinged door, aft of the crew area, to separate the entry area from the passenger cabin area. The forward-cabin door has a retractable header. There is a mid-cabin sliding door aft of the emergency exit to separate the mid-cabin area from the aft-cabin area.

• There are two three-place berthable divans in the aft cabin. Seat belts and shoulder harnesses are provided for safety. For taxi, takeoff, and landing, each divan has approved seating for two passengers. Each divan has a forward- and aft-end cabinet.

• The airplane is equipped with forward and aft lavatories 12 seats certified for occupancy during taxi, takeoff and landing Cabin Entertainment System • The cabin entertainment system provides passengers with audio and video entertainment from various cabin entertainment components.

Global Jet Monaco Florian Van Der Cruyssen, Aircraft Sales Director, L'Albatros, 9, bd Albert 1er, MC - 98000 Monaco

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• The entertainment equipment is housed in the entertainment cabinet, also called the credenza.

The entertainment cabinet has a fan to keep the equipment cool. There is a light to illuminate the equipment area, when the cabinet door is opened.

• The entertainment components in the entertainment cabinet include: - Stereo audio from one multi-disc Compact Disc (CD) player - Video and stereo audio from one Video Cassette Player (VCP) - Video and stereo audio from two Digital Video Disc (DVD) players

Tel: +377 97 77 01 04 E-mail: florian.vandercruyssen@ globaljetmonaco.com www.globaljetconcept.com Aircraft Index see Page 4

Global Jet Global Express XRS July 26/06/2014 09:48 Page 1

S H O W C A S E

Global Express XRS Serial Number: Airframe TT: Landings:

9213 2913 1065

• Entry into service in October 2006 • 12 seats certified for take-off and landing Airframe Type: RE220GX. Serial number: P-328 Manufacturer: Honeywell. Contract: None Engines BR710A2-20 Engine n° 1: P12537 2913 hrs. / 1065 cycl.

Engine n° 2: P12538 2913 hrs. / 1065 cycl.

Next major check: 4500 hours APU Total Time: 2913 hours. Cycles since new: 1065 Avionics Flight Data Recording System Flight Management System CDU 3- Honeywell Airphone System CTU-3000 Weather Radar Primus-880 -Honeywell Global Positionning System HG-2021 - Honeywell High-Speed Data Interface Collins SAT-6100 Third VHF Communication System Third navigation Unit VOR/ILS 3 Terrain Collision Avoidance System TCAS II mod 7 DME DM-850 - Honeywell Interior Bombardier Aerospace sucessfully mixed business with pleasure with these Design, Engineering and Workmanship. Great care has been taken in selecting and matching finishes and colors to highlight the interior

Equipment • One main galley/bar that includes a coffee maker, micro-wave oven, thermal oven and hot cup.

• A wardrobe located forward of the passenger entry door. It includes a jump seat.

• A forward L/H closet and entertainment cabinet.

• A forward crew area with a single seat and a folding table.

• Fwd cabin club 4 seats with console tables.

• Mid cabin club 2 seats with a console table and a 3 place divan.

• Aft cabin another club 2 seats with table and a 3 place divan.

• Vanity and toilet lavatories, with sink, soap dispenser, shelves and mirror.

• ICS-100 Telephone System with cordless handsets.

• Ethernet LAN&WLAN, Internet access, printer/fax service and multimedia ports.

• 21.3» monitor, 24» monitor and 10.4» touchscreen monitors.

• CD/DVD/MP3 players NTSC/PAL. • External Camera System provides live external views for display on the cabin monitors.

• Airshow Interactive Passenger Information System.

Paint White with a customed tail with a black pattern repeated on the nose at the end of the black stripe which runs one the fuselage Leather Nubuck Dark Earth, Mocha and Light Sand Carpet 100% Wool

Global Jet Monaco Florian Van Der Cruyssen, Aircraft Sales Director, L'Albatros, 9, bd Albert 1er, MC - 98000 Monaco

Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: +377 97 77 01 04 E-mail: florian.vandercruyssen@ globaljetmonaco.com www.globaljetconcept.com WORLD AIRCRAFT SALES MAGAZINE – July 2014

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Northern Jet Lear 40XR May 24/06/2014 10:01 Page 1

S H O W C A S E

2008 Learjet 40XR • Extended Range Fuel Serial Number: Registration: Airframe TT: Landings:

40-2100 N959RP 3,133 2,527

• Smart Parts Airframe Factory Warranty Smart Parts Engines Left Engine 3,146 / Right Engine 3,138 MSP Gold Avionics • Honeywell Primus 1000 Integrated Flight • Director & Autopilot System • 4-tube 8x7” EFIS • Dual Universal UNS1 L FMS • Dual Comm radios with 8.33 Capabilities • Honeywell HF 1050 Comm • Dual Nav and RMI • Dual Mode S Transponders • Dual DME • Single ADF • Honeywell TCAS II • Honeywell Mark VII EGPWS • Honeywell Primus Radar 660 • ARTEX 406 Emergency Locator Transmitter

• Cockpit Voice Recorder • Radio Altimeter • XM Satellite Weather Exterior Overall Matterhorn White with Blue and Yellow Stripes Interior Fire-blocked Six passenger executive interior in a center club configuration with an aft belted seat for a seventh passenger. Two Left and one Right executive tables with Imbuia gloss inlays in the center club. Seating is finished in Almond Crunch leather with Surfside lower sidewalls and finished Imbuia wood gloss laminate Optional Equipment • Freon Air Conditioner • AOA w/Indexer • Iridium Satellite Flight Phone • Cabin/Cockpit Fire Extinguishers • Interior 110V AC • Lead Acid Battery • Tail Cone Flood Lights • RVSM Capable • Airshow Cabin Audio/Video System • XM Satellite Radio • Extended Range Fuel Aircraft management Services Available

Northern Jet Management Gerald R. Ford International Airport 5500 - 44th Street, SE • Grand Rapids, MI 49512

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Tel: 800 462 7709 Tel: +1 616 336 4737 Cell: +1 616 648 2656 Fax: +1 616 336 4709 mserbenski@northernjet.net www.northernjet.net Aircraft Index see Page 4

Northern Jet Lear45XR May 24/06/2014 10:02 Page 1

S H O W C A S E

2009 Learjet 45XR Airframe TT: Landings:

2164 1685

Northern Air Inc is pleased to offer this 2006 Lear 45XR to the marketplace for immediate sale • MSP and Smart Parts Engines Left Engine 2164 Right Engine 2164 Avionics • Second Universal UNS-1E FMS • Enhanced Mode S Transponders • Dual KHF-1050 Communication with SELCAL • Steep Approach Capability • Second Automatic Direction Finder (ADF) • Cockpit Voice Recorder • Digital Flight Data Recorder • Electronic Flight Bag (EFB)

Exterior Off White with Sandalwood Tan Stripes Interior Eight passenger seats in a double club configuration with a belted lav seat certified for takeoff and landing. Interior is finished in tan tones and satin nickel plating.

Optional Equipment • Concorde Batteries-38 Ampere-Hour (Exchange) • Tail Illumination Package • Exterior Lighting Package • Lighted Control Wheel Chart Holders • Pulsating Recognition Lights • Aircraft Locking Package • Foreign Certification

Entertainment • Airshow 410 • Forward monitors • DVD system • Cabin audio • XM Radio

Northern Jet Management Gerald R. Ford International Airport 5500 - 44th Street, SE • Grand Rapids, MI 49512

Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: 800 462 7709 Tel: +1 616 336 4737 Cell: +1 616 648 2656 Fax: +1 616 336 4709 mserbenski@northernjet.net www.northernjet.net WORLD AIRCRAFT SALES MAGAZINE – July 2014

117

Jet Sense Aviation, LLC June_Empyrean 24/06/2014 10:19 Page 1

S H O W C A S E

2004 Cessna Citation Bravo Serial Number: Registration: Airframe TT: Landings:

550-1086 N623AR 3,910 3,412

Avionics Traffic Alert Collision Avoidance System: Honeywell TCAS II Flight Director: Honeywell Primus 1000 IFCS EFIS: Honeywell 3 Tube 7x8 inch Flight Management System: Universal UNS 1L with GPS VHF: Dual KY196B VHF NAV: Dual KN53 NAV Automatic Direction Finder: KR87 ADF Distance Measuring Equipment: Dual DME Transponder: Dual Mode S Diversity Transponders ALT: Rad Alt TAWS: Honeywell Mark VII Enhanced GPWS Cockpit Voice Recorder: Yes JAR Flight Data Recorder: Yes

Additional Equipment & Features Thrust Reversers Freon Air Conditioning Safeflight N1 Computer Ski Tube Installation in Baggage Compartment Oxygen 64 cu ft Artex ELT 406 JAR-OPS CESCOM HF Provisions TCAS II EGPWS Interior Eight (8) passenger leather interior with darker matching carpet. Gloss wood cabinetry and aft belted flushing toilet. Forward left hand refreshment center with glass storage, ice chest, hot liquid containers. 110 VAC Outlets. LH/RH aft divider. Crew sheepskin covers Exterior The Aircraft is painted overall Matterhorn White with Blue accent stripes

Jet Sense Aviation, LLC Contact: Brett Forrester

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

Aircraft Index see Page 4

Florida Jet Falcon 50 April 24/06/2014 10:22 Page 1

S H O W C A S E

1991 Falcon 50 Serial Number: Registration: Airframe TT: Landings:

223 N451CL 7,442 5,055

Engines TFE 731-3-1C ENGINES ENROLLED ON MSP Engine #1: Engine #2: Engine #3: S/N: P76811 S/N: P76812 S/N: P76810 TT: 7241 TT: 7221 TT: 7275 CSN: 4893 CSN: 4126 CSN: 4947 SHSI: 252 SHSI: 251 SHSI: 219 SMOH: 3115 SMOH: 3095 SMOH:3149 APU GARRETT GCTP 36-100A S/N P333 TT 2990 HOURS/1501 HOURS SHSI Avionics • DUAL COLLINS FLT DIR. • COLLINS APS 85 AUTOPILOT • DUAL COLLINS EFIS 86-C-14B SYSTEM • DUAL COLLINS VHF22 COM • DUAL COLLINS VIR 32 NAV • DUAL BENDIX MST-67A XPNDR • DUAL COLLINS ADF60 • DUAL COLLINS DME42 • DUAL UNIVERSAL UNS 1-F FMS • HONEYWELL AFIS SYSTEM • DUAL KING KHF950 HF COM • FREDRICKSON SELCAL • AIRCELL ST3100 FLITE FONE

Navigation Compliance RVSM, FM IMMUNITY, RNP5, 8.33 COM, MNPS & RNP10 Exterior PAINTED JANUARY, 2007 - DUNCAN AVIATION, SHOWS LIKE NEW Interior COMPLETED JANUARY, 2007 - DUNCAN AVIATION THIS ABSOLUTELY GORGEOUS AND METICULOUSLY MAINTAINED FALCON 50 HAS A DESIGNER INSPIRED INTERIOR IN EARTH TONE COLORS AND A CUSTOM PAINT SCHEME. CUSTOM FABRICS, SUPPLE BEIGE LEATHER UPHOLSTERED CHAIRS, AND MEDIUM HIGH GLOSS CABINETRY COMPLIMENT THE 9 PASSENGER EXECUTIVE INTERIOR WITH THE FOLLOWING FEATURES: • DUNCAN 50EX STYLE INTERIOR • AIRSHOW 410 PASSENGER INFORMATION SYSTEM • HONEYWELL CABIN ENTERTAINMENT SYSTEM • ONE 15” MONITOR • DVD PLAYER • HONEYWELL PRONTO CABIN ENTERTAINMENT REMOTE • AIRCELLAXXESS IRIDIUM PHONE SYSTEM W/2 HANDSETS • LED READING AND WASH LIGHTING SYSTEM • TIA MICROWAVE • TIA COFFEE MAKER • 9 PASSENGER CONFIGURATION INCLUDES 6 CHAIRS AND A 3 PLACE DIVAN • SIDE FACING JUMPSEAT • AFT LAV

Florida Jet 1516 Perimeter Road, Suite 201 Palm Beach International Airport West Palm Beach, FL 33406 Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: +1 (561) 615-8231 Fax: +1 (561) 615-8232 Email: info@flajet.com www.FlaJet.com WORLD AIRCRAFT SALES MAGAZINE – July 2014

119

Mente 2009 Gulfstream G200 & Falcon 2000 July 24/06/2014 10:23 Page 1

S H O W C A S E

1997 Falcon 2000 Serial Number: Registration: Airframe TT: Landings:

38 N710ET 5197.8 2775

Engines CFE738-1-1B On ESP Gold Left: S/N 105193, 4948.4 Hours, Cycles: 2599 Right: S/N 105190, 4948.4 Hours, Cycles: 2599 APU Honeywell GTCP35-150 On MSP S/N P-139, 2817.7 Hours, Cycles: 3770 Avionics Collins Pro Line 4 w/ 6.1 upgrade Dual Honeywell Laseref III / Dual Collins FMS-6100 Dual Collins FCC-4002 Flight Director Dual Collins GPS 4000A Dual Collins APS-4000 IFCS / Autopilot

Mark Payne Cell: +1 (972) 897-3246 E-mail: mark@mentegroup.com Dual Collins ADF-462 Dual Collins VHF-422C w/ 8.33 spacing Collins TCAS-94 TCAS II w/change 7 Honeywell Mark V EGPWS Dual Portable EFB System w/ Bluetooth GPS Additional Features RVSM Certified / Collins AHS-85E AHRS Allied Signal SSCVR / Allied Signal AFIS Airshow 400 / 14.2” forward cabin monitor Aircell ST-4200 telephone / Aircell WIFI System RVSM Compliant / 115V AC Power outlets Third Crew - Jump Seat / Dual Davtron Digital Clocks Maintenance CAMP Systems Tracking / High service bulletin level compliance. 3C Due Jan 2015

Interior Beautiful eight passenger executive interior featuring a forward four-place club arrangement with foldout tables.

The spacious aft cabin boasts another four-place conference or dining arrangement with adjacent credenza with ample storage. Seating is tastefully finished in light earthy leathers. Interior is complemented with matching earth tone carpeting found throughout the cabin. The cabinetry is high gloss stained veneers; the rose gold plating completes the interior. Forward full service 46” galley, 18” galley annex, private aft lavatory Exterior The single tone base Matterhorn White paint is complemented by a, Cabernet Red, and Regiment Blue striping. It was fully repainted by Dassault Little Rock in September 2006. Touched up March 2014

2009 Gulfstream G200

Mark Payne Cell: +1 (972) 897-3246 E-mail: mark@mentegroup.com

Serial Number: Registration: Airframe TT: Landings:

Interior Well appointed, nine (9) passenger interior features forward four place club seating and aft three(3) place divan opposite two (2) place club. Upon entering this beautiful aircraft, you notice the well-appointed forward galley, including TIA Wavejet Microwave, two (2) hot liquid dispensers, wine storage, large serving area, and generous ice drawer and trash receptacle. The medium toned, high gloss, wood veneers are accentuated by mushroom leather seating and a brown fabric divan. The intricately woven, 100% wool carpet shows little wear and compliments the interior perfectly. Passenger will be entertained with an Airshow 410 system as well as forward and aft 17” LCD monitors and a multi-region dual DVD player Exterior Overall, White with Zephyr Orange and Black Accent Stripes

230 N331BN 1946.7 1143

Engines ESP Gold P&W306A Engine 1: PCE-DF0103 1821.4 SNEW Engine 2: PCE-DF0104 1821.4 SNEW Auxiliary Power Unit Honeywell 36-150IAI SN: P-339 982 Total Time 1187 Total Cycles Avionics 5 Tube EDS / Collins Proline 4. 2 Collins VHF-422D Comms. 2 Collins VIR-432 Navs. 1 Collins ADF-4500 ADF. 2 Collins DME-4000 DME. 2 TDR-94D Mode S W/ FLT ID TDR. 1 Collins TWR-850 Radar.

2 Collins FMC-6000 FMS. 2 Collins GPS-4000A GPS. 1 Honeywell KTR-653 W/Selcal HF. Collins TTR-4000 W/CHG 7 TCAS. Honeywell DMU-AFIS AFIS. ICG Iridium ICS-200 SAT/COM. Artex 406 W/Nav Interface ELT. Honeywell Mark V W/ WS & RAAS EGPWS. Universal CVR -120 CVR. Collins FCC-4005 CAT II Autopilot Special Features In Service 12/22/2009. RNP-5/-10 / MNPS. RVSM/8.33/FM Immunity. Emergency Lighting.

Aircell Axxess II. ATG 4000. Collins MDC-4000.

Dual M850A Davtron Clocks. Collins ALT-4000.

WX-1000E Stormscape. EICAS / Collins DCU-4010.

Mfg Warranty until 12/22/2014. 1A/2A Insp C/W 12/13/13. C/2C/4C Insp C/W 12/13/13.

12/24/48 MTH C/W 12/13/13.

Eng Boroscopes C/W 12/13/13.

Mente Group, LLC 15301 North Dallas Parkway, Suite 1010 Addison, TX 75001

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Tel: +1 214 351 9595 www.mentegroup.com

Aircraft Index see Page 4

Aerosmith Penny Hawker 800XP February 24/06/2014 10:24 Page 1

S H O W C A S E

1996 Hawker 800XP Serial Number: Registration: Airframe TT: Landings:

258289 N881AF 10,001.6 6291

• Aviation Partners Winglets • Interior new 2012 standard eight place • Exterior, 2012 Overall White Blue and white with blue stripes • MSP Airframe & Engines TFE731-5BR ENROLLED IN HONEYWELL MSP APU GTCP35-150W 4513 APU HRS 6048 APUS Avionics FMS: DUAL HONEYWELL NZ2000’S RADIO SYSTEM: HONEYWELL PRIMUS II INTEGRATED COMMS: DUAL HONEYWELL RCZ-851w/8.33spacing NAVS: DUAL HONEYWELL RNZ-850 RMS: DUAL HONEYWELL RM-850 TRANSPONDER: DUAL HONEYWELL RCZ-833k HF: DUAL BENDIX/KING KHF-950 R/ALT: HONEYWELL RT-300 AHRS: DUAL AHZ-600 RADAR: HONEYWELL PRIMUS 870 ADC: DUAL HONEYWELL AZ-810

AFCS: DUAL HONEYWELL DFZ-800 EFB: SINGLE FG7000 Adv. Data Research TCAS: HONEYWELL ACSS TCAS II W/CH.7 CVR: UNIVERSAL CVR-30B EGPWS: ALLIED SIGNAL Extras AVIATION PARTNERS WINGLETS CAMP MAINTENANCE PROGRAM DUAL HONEYWELL PRIMUS II SRZ-850 DATA LOADER LSZ-850 LIGHTNING SENSOR ARTEX C406-1 ELT HONEYWELL N1 DEECS Interior New 2012 STANDARD EIGHT PLACE INTERIOR Exterior 2012 Overall White Blue and white with blue stripes

AeroSmith Penny II LLC 8031 Airport Blvd., Suite 224, Houston, TX 77061

Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: +1 (713) 649-6100 Fax: +1 (713) 649-8417 Email: aspinfo@aerosmithpenny.com www.aerosmithpenny.com WORLD AIRCRAFT SALES MAGAZINE – July 2014

121

Aero-Dienst July_Heeren Cit Ultra sep 24/06/2014 10:28 Page 1

S H O W C A S E

Price: US$ 13,950,000

2009 Challenger 300 Serial Number: Airframe TT: Landings:

20272 866 640

2010 in Service - Double Club Cabin for 8 Passengers - Lufthansa NICEview Cabin System Inmarsat and Iridium SATCOM - WAAS Capability Collins ProLine 21 - EASA OPS 1 Equipped RVSM - MNPS - RNP 5 / RNP 1 / RNP 0.3 - Fresh 48 Months LUMP Inspection 12/2013 - 38,850 lbs MTOW - No Damage History Engines 2 Honeywell AS907-1-1A (MSP) L/H: S/N P118687 R/H: S/N P118686 TSN: 866 hrs TSN: 866 hrs CSN: 640 CSN: 640 APU Honeywell GTCP-36-150(BD) (On MSP) Avionics and Other Features Collins Integrated Digital ProLine 21 Avionics Suite with Collins Automatic Flight Control System 4 Collins CDU 3 Collins VHF-4000 Comm w/8.33 kHz Spacing 2 Collins HF-9031A with SELCAL 1 ICS-200 Iridium Satcom 1 Collins Inmarsat Satcom-5000 ACARS Data Link w/ Graphical Weather Maps 2 Collins NAV-4000 Nav 2 Collins DME-4000 DME 2 Collins NAV-4000 ADF 2 Collins TDR-94D Mode S w/Enh. Surveillance 2 Collins FMC-5000 FMS with V-Speed 2 Collins GPS-4000A WAAS Capability

Additional Equipment Lighted Chart Holders Enhanced Baggage Compartment 16G Seat in Lavatory Certified for Take Off and Landing Lufthansa NICEview Cabin System Airshow 410 Cabin Entertainment with DVD/CD Player and Two 18” Monitors Deluxe Galley with Espresso Machine Forward Partition with Sliding Door Floor Accent Light Over Water Flight Kit Cockpit Writing Tables Dual LED Navigation Lights Pulsating Main Landing Lights Door Lock Package Cabin The cabin has a luxury layout for eight passengers consisting of dual club four individual passenger seats arrangement with three bi-fold retractable and one plug-in executive tables. The aft lavatory is fitted with a warm/cold water dispenser, lighted mirror, storage drawers and a belted 16G seat certified for take off and landing.

Seats are upholstered in grey leather, ceiling and side wall are of light grey, armledges, tables galley, cabinetries, forward and aft cabin partition are of high gloss carbon fiber. DeLuxe Galley comprises a microwave oven, two hot liquid containers, an ice drawer with overboard drain, and ample drawer storage for crystal and china.

Interior in excellent condition Exterior Painted allover white with one warm red stripe from nose to tail. Excellent condition

Aero-Dienst GmbH & Co. KG, Flughafenstrasse 100 90411 Nuernberg Germany

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Tel: +49-911-9356-120 Mobile: +49-171-4950309 E-mail: armin.hoehnemann@aero-dienst.de www.aero-dienst.de Aircraft Index see Page 4

Aviation Advisors June 24/06/2014 10:30 Page 1

S H O W C A S E

2004 Gulfstream G550 Serial Number: Registration: Airframe TT: Landings:

5033 VP-BNR 1750 870

• One owner since new • One of a kind designer interior in like new condition • Enhanced Navigation Upgrade & TCAS 7.1 • RVSM/RNP-1, 4, 5 & 10. MNPS. CPDLC. ADS-C • Securaplane 450 Security System • Airshow 4000 System • Four 5.6” Monitors, one 12” and one 20.0” Monitor • Single 5-Disc Audio CD Player / Controller • Two Multi-Region DVD Players • Miltope Cockpit Printer & Cabin Laser Printer • SATCOM and Ethernet: - Wireless LAN - One (1) Honeywell MCS-7000+ Satcom System - One (1) Honeywell AIRSAT 1 Satcom System - One (1) MagnaStar C2000 Radiotelephone (Functions also as a PBX connecting all handsets to each other and to the Honeywell MCS-7000 INMARSAT System.

• JSSI “Platinum” (pro-rated)

Advertising Enquiries see Page 8

Engines RR BR-710 Engines: 1750 hrs (as of January 23, 2014) Enrolled in JSSI Platinum Honeywell RE220 (G550) APU: 2053 Hours Avionics Certification “Foxtrot” basic completed August 2011, Navigation upgrade “Enhanced” c/w June 2013 (ASC 84B & ASC 96), Runway Awareness Advisory System (RAAS), Four (4) Honeywell DU-1310 Flat Panel Display Units, Two (2) Honeywell DC-884 Display Controllers, One (1) Honeywell DP-884 Display Brightness Panel, One (1) Honeywell/Kollsman Visual Guidance System (VGS), Three (3) Honeywell MAU-913 Modular Avionics Units, One (1) Honeywell GP-500 Flight Guidance Panel, Three (3) Honeywell MC-850 Multifunction Control Display Units, Three (3) Honeywell AZ-200 Air Data Modules, One (1) Honeywell WU-880 Weather Radar Receiver/Transmitter Antenna, Two (2) Honeywell WC-884 Weather Radar Controllers, Three (3) Honeywell IR-500 LASEREF V Micro Inertial Reference Units, Two (2) Honeywell MRC-855A Modular Radio Cabinets, Three (3) Honeywell AV-900 Audio Panels, One (1) Honeywell MT-860 Third Navigation /Communication Cabinet Two, (2) Honeywell RT-300 Radio Altimeters, One (1) L3 Cockpit Voice Recorder (CVR), One (1) Cockpit Voice Recorder (CVR) Control Panel, One (1) L3 Flight Data Recorder (FDR), Two (2) Davtron Digital

Clocks, One (1) Goodrich EBDI-4000 Radio Magnetic Indicator (RMI), One (1) Goodrich Magnetometer, One (1) Goodrich GH-3100 Standby Attitude/Airspeed/Altitude Indicator, One (1) Honeywell RT-951 (TCAS 2000) 7.1 (ASC 103), Two (2) Mason Cursor Control Devices, One (1) Thales Satcom antenna, One (1) Honeywell LP-860 processor, One (1) Honeywell LU-860 controller, One (1) Honeywell AT-855 brick antenna, One (1) Honeywell LSZ-860 Lightning Sensor System (LSS) Interior 18 Passenger custom designer interior w/ fwd galley including convection oven & microwave.

Flight attendant seat. Fwd & aft vacuum lavatories. Fwd cabin: Six individual seats of which two are berthable. Mid-cabin: Four-place club arrangement. Aft-cabin: Two four-place divans.

Interior is in excellent like new condition Asking Price: Call!

Aviation Advisors International Inc 8191 N. Tamiami Trail, Sarasota, Florida, 34243-2032

Tel: +1 (941) 351-5400 Tel: +1 (210) 490 1883 - San Antonio office Email: bobd@aaisrq.com www.aviationadvisorsintl.com

www.AvBuyer.com

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Hawker Pacific Embraer Legacy July 24/06/2014 10:38 Page 1

S H O W C A S E

2008 Embraer Legacy Serial Number: Registration: Airframe TT: Landings: Price:

1450 1071 N898JS (Part 91) 380 124 USD12.5M

• March 2009 entry into service • Low 380 hours, 124 cycles • Interior as new; no wear and tear • 60 month inspection complied with February 2014 • DVD, Airshow, equipped for Satcom and Wifi • Immediate availability; no financing on the aircraft Engines Model: Rolls Royce AE 3007A1E Hours and cycles identical to airframe Serial Number LH CAE313141 Serial Number RH CAE313139 APU Model: Hamilton Sundstrand APS-500R Avionics EFIS 6-Tube DU-870 Colour Displays ISIS Thales FMS Dual Honeywell NZ-2000 AUTOPILOT Dual Honeywell IC-600 IRS Honeywell HG2001GD03 Laseref IV GPS Dual Honeywell AIR DATA SYSTEM Honeywell AZ-850 DME Single Integrated with VHF Nav ADF Single Integrated with VHF Nav VHF COM Triple Honeywell RCZ-833K HF COM Dual Honeywell KRX1053

AUDIO SYSTEM Single Honeywell AV-850 SATCOM Single Aircell ST-3100 with 2 handsets FADEC Dual Goodrich ELT Single Artex 406Mhz RADAR ALT Dual Honeywell RT-300 TRANSPONDER Dual Honeywell RCZ 833K mode S VHF-NAV Dual Honeywell RNZ-851 EGPWS Honeywell EGPWS with Windshear guidance TCAS Single Honeywell TCAS-2000 with Change 7 ALTITUDE WARNING UNIT Honeywell WEATHER RADAR Honeywell WU-880 CVR Single Honeywell SCVR FDR Single Honeywell SSFDR Interior 13 seat Interior. Forward galley Forward cabin 4 executive club arrangement with foldout tables Mid cabin 4 place conference / dining group opposite credenza Aft cabin 3 place 16G berthable divan opposite 2 executive club seats Forward crew lavatory and aft passenger lavatory Jumpseat in cockpit Galley with coffee maker, chiller unit, microwave, oven, thermos storage Airshow Dual DVD players Satcom with two handsets equipped for Swift 64 Wifi Three 17 inch bulkhead integrated LCD monitors All seats in light cream-coloured leather All wood dark high-gloss finish Fabric covered manually extendable 3-place divan

Hawker Pacific

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Paul van der Blom Mob: +65 85221258 Email: paul.vanderblom@hawkerpacific.com www.hawkerpacific.com Aircraft Index see Page 4

IBA Falcon 900DX June_Empyrean 25/06/2014 11:16 Page 1

S H O W C A S E

2005 Dassault Falcon 900 DX Serial Number: Registration: Airframe TT: Landings:

604 G-TAGF 2931 1339

Engines Engine Type & Model Honeywell TFE 731-60-1C No 1 Engine Serial Number P112622 No 1 Engine Hours Since New 2711 No 1 Engine Cycles Since New 1254 No 1 Engine Hours Since Restoration 378 No 1 Engine Cycles to First Limiter 5746 No 2 Engine Serial Number P112598 No 2 Engine Hours Since New 2897 No 2 Engine Cycles Since New 1317 No 2 Engine Hours Since Restoration 382 No 2 Engine Cycles to First Limiter 5693 No 3 Engine Serial Number P112621 No 3 Engine Hours Since New 2865 No 3 Engine Cycles Since New 1312 No 3 Engine Hours Since Restoration 416 No 3 Engine Cycles to First Limiter 5688 APU Type & Model Honeywell GTCP 36-150F APU Serial Number P-494 APU Hours Since New 3492 APU Overhaul Interval 4500 Hrs APU Hours Since Overhaul 2107 Landing Gear Nose Landing Gear Cycles Since Overhaul N/A Nose Landing Gear Cycles Remaining 466/July 2018 LH Landing Gear Cycles Since Overhaul N/A LH Landing Gear Cycles Remaining 4661/July 2018

RH Landing Gear Cycles Since Overhaul N/A RH Landing Gear Cycles Remaining 4661/July 2018 Interior Configuration and Optional Equipment Pegasus Designed Interior Seating 14 Passengers Forward Double Club Seating Dining Group Dual 3 Seat Divans Seating Convertible to 4 Beds, Suitable For Sleeping Up To 6 Forward and Aft Safety Equipment Stowage Cabin Attendant Seat Forward and Rear WCs Honeywell MH Entertainment & Cabin Management System Multiple LCD Monitors Multi-region DVD Player DT Systems Premium Speakers Sony Stereo headsets Maintenance Status 1A & 1A+ Inspections Completed April 2013 C Check Completed 2012 Honeywell Avionics Protection Plan Engines and APU on MSP Gold Avionics EASy Cockpit with EASy II Upgrade EASy Modular Avionics Dual Honeywell AZ-200 Air Data Computers EASy Data Acquisition and Central Maintenance Computer EASy Jeppesen Electronic Charts EASy IFCS TCAS – Honeywell TCAS-2000 with 7.1 Upgrade

International Bureau of Aviation Contact: Ben Jacques

Advertising Enquiries see Page 8

www.AvBuyer.com

Radio - Triple Honeywell TR866B CVR – Honeywell SSCVR DME – Dual Honeywell DM-855 FMS – Triple Honeywell EASy with Dual GPS-90X HF Radio – Dual Collins HF-9000 Satcom – Thrane Aero H+ TT-5000 HSD+ with ICG handset Transponder Dual Honeywell XS-855A Weather Radar – Honeywell Primus 880 Honeywell EGPWS

Tel: +44 (0) 1372 22 44 88 Email: ben.jacques@ibagroup.com

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Aviatrade July 24/06/2014 10:40 Page 1

EXCLUSIVE REPRESENTATION AIRBUS ACJ 318 ELITE s/n 4878 VP-BKG 2012 MODEL AVAILABLE FOR IMMEDIATE SALE or LEASE • Unique Opportunity • 3rd Qtr 2012 Completion • Delivery hours only • Exterior is base white and can be customized prior to delivery • Largest cabin-cross-section in its class and superbly equipped for intercontinental travel • View complete specifications at: aviatrade.aero/sales_2012_A318.asp • www.aviatrade.aero

www.aasia.cn

Contact: Philip Rushton, President, 1-908-696-1174 Office, 1-908-578-8080 Mobile, 1-908-696-1175 Fax

Aviatrade July 24/06/2014 10:40 Page 2

x

NEW YORK ✦ LOS ANGELES ✦ SINGAPORE ✦ BEIJING Cabin-Class Consulting....First Class Service

J Hopkinson 2 June 21/05/2014 10:39 Page 1

Tel: (403) 291 9027 Fax: (403) 637 2153 sales@hopkinsonassociates.com www.hopkinsonassociates.com

follow us on twitter@HopkinsonAssoc

19 Sold 6 Remaining that Must Be Sold!

Cessna Citation Ultras AVIONICS Honeywell Primus 1000 3 - Tube EFIS Honeywell Primus GNS-XL FMS System

Honeywell MKVII EGPWS Honeywell TCAS II w/Change 7 L3 Cockpit Voice Recorder Global-Wulfsberg AFIS INTERIOR Seven Passenger Interior & Belted Lav Seat Aft Tailcone Baggage w/Ski Tube.

Zephyr Air Conditioning.

Recently refreshed Interior

EXTERIOR Recently completed Permaguard sealed Exterior MAINTENANCE Fresh Phase 1 - 5 completed by Landmark, Scottsdale Zero Engine Option

1441 Aviation Park NE, 2nd Floor, Box 560, Calgary, Alberta, T2E 8M7

The Pilot Shortage_Edit 24/06/2014 12:15 Page 1

THE PILOT SHORTAGE

‘Its Not Airline Flying’

Business Aviation’s Pilot-Hiring Advantage... But is it Enough? asks Dave Higdon Advertising Enquiries see Page 8

he looming pilot shortage is an aviation topic with legs that are exceeded only by debates about Amelia Earhart's ultimate fate. That topic currently outranks long-term concerns about the declining number of airports, the shifting state of pilot training and the graying of the existing pilot cadre. These topics are evergreen – they’re always on the radar. And they rarely move in the direction the aviation community desires them to - one that benefits aviation by building it.

Military-trained pilots have supplied the raw human capital for aviation growth stretching back to World War I with an added boost from the nation's leaders who created a pool of thousands of freshly mined aviators in anticipation of World War II. That build-up came through for the nation again when America joined with the United Nations in Korea, and throughout supplied the seed customers of a civil aviation industry that is unrivaled globally.

Today, however, military training supplies

T

www.AvBuyer.com

only a small percentage of the professional aviators needed to fly nearly 30,000 commercial airliners and almost the same number of business-turbine aircraft around the world.

Further contributing to the feeling of a shortage is the ongoing decline in the total pilot population and a training pipeline that is not keeping up with pilot retirements or abandonment of active flying.

And complicating the situation is Congress' 2010 pique of legislative emotion forcing the FAA to revise its requirements for entry-level, right-seat jobs to the same level as is mandatory to sit in the left seat. Tens of thousands of first-job candidates and ‘wouldbe’ graduates now face another year (or more) of training, and tens of thousands more dollars before they can qualify to compete for these jobs.

First Officer-qualified candidates simply want to fly in jobs that pay enough to enable them to live, service their debt, and enjoy life.

The airlines still get hundreds of candidates applying for each opening. But fewer are new, or willing to work for entry-level pay. ❯ WORLD AIRCRAFT SALES MAGAZINE – July 2014

129

The Pilot Shortage_Edit 24/06/2014 12:18 Page 2

THE PILOT SHORTAGE A BRAVE, UNREGULATED WORLD...

“Despite these easily documented differences, many a pilot sees no career flying outside an airline-captain's chair, however.”

130

WORLD AIRCRAFT SALES MAGAZINE – July 2014

The catalysts, in part, all originate at the airlines themselves, and in many ways due to the unintended consequences of deregulation: Management/Labor conflicts; airline bankruptcies and pension abrogation for retirees; seniority disputes in mergers; routes downsizing; long, laborious work days; disrupted sleep patterns; and the lowest blow of all family-hostile scheduling.

Simply to qualify for this world now means more training and a low starting salary (regional First Officers can expect to start between $18,000 and $25,000). With regional carriers often forced to hire pilots also qualified for the right seat of a major (at $60,000 per year or more), airline schedules are suffering. Even at $60,000, a fresh program graduate may find it difficult to pay bills, eat and service the student debt.

Business Aviation enters this competition with several significant advantages over the airlines – and, from the perspective of many pilots, one large disadvantage. The life; the pay; the benefits; and the demands: all point toward a career in which pilots log about onehalf to one-third the hours of their airline counterparts (350 to 500 hours). Work hours in general also tend to be less onerous, with many business pilots noting they generally enjoy weekends off.

They tend to fly a greater variety of destinations, many of them far from the saturated airspace of Bravo Airspace hubs, and they tend to earn more.

Despite these easily documented differences, many a pilot sees no career flying outside an airline-captain's chair, however.

Once that may have been true, but it isn’t today according to one business jet pilot.

“Now is a different game,” he elaborated during a conversation with two recent military retirees hungry for an airline cockpit job. “The biggest advantage private operators have when trying to hire qualified crew? They are not the airlines.”

He easily rattled off his list of differences that he equates to competitive advantages on the side of www.AvBuyer.com

business flying. “There’s more variety; more control; fewer flight hours; more time at home; better pay and, in general, a better working environment where the Bosses respect their crew. The owner trusts their crew with their lives, their businesses, their customers and often their families. Aircraft owners have a stake in your abilities, just like airline ticket holders do – but with the knowledge that they hired their crew.”

Yet as several organizations note, even if Business Aviation enjoys several advantages against the airlines, challengers to those advantages exist and they require effort to overcome.

THAT TOTAL-POPULATION PROBLEM...

With today's imbalance between retirements and recruitments, the total pilot population can do nothing but shrink. Aviation started losing its pilot population decades ago and the shrinkage has continued with little change over time. The root population needs to grow for the subgroups to also expand – or else the community one day finds that the only newcomers are in some ab-initio program for an airline-cockpit position or in training for a business aircraft cockpit.

Currently, however, the airlines seem blessed with an excess of bodies boasting at least the minimum requirements or, in many cases time enough to qualify for a captain's chair. But as the population has declined and the number of applicants-per-job increased, in contrast, the compensation for the entry-level airline jobs barely competes with jobs that don't require years of study.

As a result, a fair number of prospects qualified for that regional or small-airline job opt not to apply. Even knowing they could be enhancing their logbooks, they also acknowledge that first they must pay the bills and eat.

Consequently, prospects withdraw from contention – they move on, away from a cockpit job...and they don't look back.

THE KNOWLEDGE PROBLEM...

“The issue I have with a business jet job is that those guys never go anywhere – and they don't make the big money. You've got to be a Captain, flying wide-body jets on long international flights to get into six figures,” one pilot told me in earnestness.

In fairness, the young man already had four figures in his logbooks, most of those hours flying airliner-equivalent, international operations. Fortunately, he found something to keep him in the military and happy where he was headed.

Another aviator acquaintance is glad he did move into Business Aviation. That opened up an outstanding First Office job that pays him high five figures for now, but will go into Aircraft Index see Page 4

The Pilot Shortage_Edit 24/06/2014 12:18 Page 3

THE PILOT SHORTAGE six when his company adds another largecabin, ultra-long-range jet in early 2015.

As a matter of fact, entry-level business aircraft cockpit jobs pay better than most regional-airline captain's posts. So, all told, you’ll enjoy being at home more; less flying; more variety; better working conditions; and better pay. And international flying doesn't force the talent to relocate overseas.

One expatriot pilot originally recruited by a major's regional division told us he was floored to learn that the prospective employer expected job candidates to pay for their own transition training before being hired, with no guarantee of hiring after successfully qualifying and clearing all the hurdles.

“It was presented as something of a competition among the group of pilots in the class, and it encouraged some unwelcome behavior,” the ATP-qualified pilot told World Aircraft Sales Magazine. Happily he found “better work” and a “friendlier employer” flying turbine and jet aircraft into East Africa and the Middle East.

THE MUCH-TALKEDABOUT SOLUTION? The community's leaders acknowledge the problem; they talk up the solutions; and they try ideas - we must concede that. The ambition of once again having nearly 1 million Americans pilot-qualified holds huge appeal, and it's certainly a laudable goal.

The country did it once, one association executive recently reminded me. And in the late 1970s American makers of General Aviation aircraft delivered an average of 15,000 new airplanes a year for the better part of a decade. Absent the political will to create and fund the programs needed, we should not hold our breath, however.

The tax laws of the late 1960s through the late 1970s included an investment-tax credit that essentially committed the government to reimbursing buyers of the costs of “investing in” railroad boxcars, maritime barges and – yes, you got it – General Aviation aircraft when bought for a business. Consequently tens of thousands of airplanes were bought by individuals operating as a company that owned the airplane – and then claimed the tax credit that refunded the costs of the new airplane.

That mushrooming of the pilot population through World War II began in Europe in the mid-1930s – in anticipation of the need that followed. In the US, the Civilian Pilot Training Program (CPTP) launched in 1938 to supplement the training of the US Army - President Franklin D. Roosevelt supported the CPTP's plan to train 20,000 civilian pilots a year because this would create a pool of potential military pilots that he believed the country would need soon.

Advertising Enquiries see Page 8

In 1939 the Army had a total of only 4,502 pilots, including 2,007 active-duty officers, 2,187 reserve officers and 308 National Guard officers. The CPTP eventually operated at 1,132 colleges and universities, and 1,460 flight schools, and CPTP-trained pilots did well in further training at USAAF schools. Recording nearly 12 million flying hours, the CPTP trained 435,165 pilots from 1939 to 1944.

Those pilot provided the manpower-base the nation needed through the 1940s and into the end of the 1960s. By the 1980s, the military pipeline was starting to slow at the same time civil flight training started its current decline.

Rebuilding the pilot population to a level needed to support commercial and private aviation at levels both would like to see will take another program like the CPTP, many current aviation insiders believe. Saying so is out of fashion, however, because no one wants to be seen as “advocating an expensive government program,” one insider explained.

Several efforts to encourage new student pilots have come and gone in the past 15 years. AOPA's latest move in that direction focuses on starting flying clubs to help reduce the costs of flying while EAA expanded its 20year-old Young Eagles program – an effort to fly young people age 7-17 into a similar program for adults.

NBAA is proactive in encouraging young adults to embrace a career in Business and/or General Aviation, as a pilot or one of the other important support careers. But one observer schooled in the problem noted during a round-table discussion that absent a reversal in the shrinkage of the total pilot population, a shortage is an inevitability that will be answered by overseas competition.

“Competition from China, India and South America isn't going away,” he explained. “The time may come when we're recruiting in those places the way they recruit here today.”

One consensus came out of the discussion: The clock is ticking...

“...absent a reversal in the shrinkage of the total pilot population, a shortage is an inevitability that will be answered by overseas competition.”

HOW CAN AVIATION ATTRACT AND ENCOURAGE SUFFICIENT NUMBERS OF A NEW GENERATION OF PILOTS?

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – July 2014

131

Jeteffect Inventory July 23/06/2014 17:11 Page 1

EXCLUSIVELY OFFERED

LOS ANGELES 562.989.8800

DALLAS 214.451.6953

ATLANTA 334.502.0500

PALM BEACH 561.747.2223

BOSTON 617.820.5268

Year

Model

Serial No.

1983

Challenger 601-1A

3010

1995

Challenger 601-3R

5176

1995

Challenger 601-3R

5180

2005

Citation CJ1+

525-0603

2002

Citation CJ2

525A-0099

1994

Citation Ultra

560-0260

1997

Citation Ultra

560-0405

1997

Citation X

750-0016

1988

Falcon 900B

30

1988

Falcon 900B

45

1994

Falcon 900B

138

1998

Falcon 2000

75

1987

Gulfstream GIV

1021

1998

Gulfstream GV

545

2003

Hawker 400XP

RK-358

2005

Hawker 400XP

RK-407

1999

King Air B200

BB-1645

2008

King Air B200GT

BY-39

2000

Learjet 45

079

2008

Learjet 45XR

383

2000

Learjet 60

198

2001

Learjet 60

229

2007

Learjet 60XR

320

2007

Learjet 60XR

333

2014

Socata TBM-850

673

1997

Bell 407

53121

P133-137 25/06/2014 12:53 Page 2

Marketplace Westwind II

Thomas Jets LLC Price:

Make Offer

Year:

1984

S/N:

409

Reg:

N629WH

TTAF:

5102

Location: USA

Tel: +1 (613) 991 2935 E-mail: paul@thomasjets.com This no damage, RVSM compliant aircraft, is an excellent, late model Westwind II, Flight Director: Collins FDS-85, Auto Pilot: Collins APS-80, Comms: Dual Collins VHF-20B, ADF: Collins ADF-60A, Keith Freon Air, Airshow 200, Wireless Headsets, The cabin is equipped with five individual executive seats and a forward three place couch. The fully enclosed lavatory, located in the rear of the cabin, has a belted flushing potty and sink. Seats and couch was recovered 2013. Good condition. Feb 2005

www.thomasjets.com

Dassault Falcon 50

Thomas Jets LLC Price:

Make Offer

Year:

1986

S/N:

168

Reg:

N514MB

TTAF:

5750

Location: USA

Tel: +1 (613) 991 2935 E-mail: paul@thomasjets.com Landings: 3268, This is an exceptional, low time Falcon 50 with excellent maintenance status and history. 4C & Corrosion Protection Control Program (CPCP) complied with August, 2013, New Paint, MPI’s (Weststar Alton, IL), Gear Overhaul August, 2011. New paint August, 2013 (Weststar Alton, IL) Excellent Condition. Six Individual Grey Leather Seats With a Three Place Divan and Jump Seat, Keurig Coffee Maker, Sony DVD Player, CD and Pull Out Wide Screen LCD Monitora

www.thomasjets.com

Westwind II

Thomas Jets LLC Price:

Make Offer

Year:

1981

S/N:

345

Reg:

N345TR

TTAF:

10,190

Tel: +1 (613) 991 2935 E-mail: paul@thomasjets.com This no damage, RVSM compliant aircraft, is an excellent, late model Westwind II. 35 hours since “C” Check Oct, 2013 Trimec Aviation, 800 hour structural “B” complied with, Keith Freon Air, Titanium Tail Hinge, B & D Cabin Display, Davtron Clock M 811-B, The cabin is equipped with four individual executive seats and a forward three place couch.

There is a forward refreshment center with ample storage space

Location: USA

www.thomasjets.com

Hawker 800A

Capital Jet Group Price:

$1,950,000

Year:

1993

S/N:

258241

Reg:

XA-CHA

TTAF:

5875

Tel: +1 (703)-917-9000 E-mail: sales@capitaljetgroup.com MSP GOLD for engines. API winglets for added range and performance. 2011 paint. 2013 48 month inspection.

Global AFIS. Aircell Iridium satphone. Dual GPS. Digital FDR. HF. TCAS 2000 8 passenger interior with DVD/CD/Airshow system with dual monitors

Location: USA

Hawker 800XPi

Capital Jet Group Price:

$3,950,000 USD

Year:

2005

S/N:

258723

Reg:

M-YCEF

TTAF:

4,219

Tel: +1 (703)-917-9000 E-mail: sales@capitaljetgroup.com Hawker 850 performance for 8 passengers in a turn-key package. HBC Winglets. Dual File-servers. 2012 paint and interior. MSP for engines and APU. Fresh 8 year/48 month inspections at Duncan Aviation. Fresh Engine Core Overhauls. No Excuses, no projects. Make an offer soon.

Reduced to $3,950,000 USD

Location: USA

Advertising Enquiries see Page 8

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – July 2014

133

P133-137 25/06/2014 12:55 Page 3

Marketplace Learjet 36A

Leonard Hudson Drilling Price:

US $1,695,000

Year:

1977

S/N:

36A-030

Reg:

N160GC

TTAF:

15,600

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

Learjet 36A, Long range capability, as configured 2,400 nautical miles. Can be upgraded to 2,600 mile range.

Recent paint and interior, RVSM. Competitively priced at $1,695,000 USD, may trade on helicopter

Location: USA

BELL 206L4

Leonard Hudson Drilling Price:

Please Call

Year:

2002

S/N:

52265

Reg:

N339MG

TTAF:

1700

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

We are offfering our 2002 Bell 206 L4. Pictures do not

do justice to the helicopter, and the colors are very vibrant, it is ready for immediate work. It has had both a Bell/Edwards completion and maintenance with immaculate records, of course no damage of incidents. 1700 TTSN, Two corporate owners.

Location: USA

BELL 412EMS

Leonard Hudson Drilling Price:

US $3,875,000

Year:

1981

S/N:

33017

Reg:

N554AL

TTAF:

15265

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

Full EMS Medical 4 patient and 4 attendant interior.

Recent ‘no expense spared’ airframe refurbishment at Acro Helipro within the last 100 hours.

Both engines are fresh Pratt and Whitney overhauled.

Immediate delivery, Meticulous records.

Current with medical interior and 13 passenger utility interior are included, aircraft is ‘turn-key’ will provide Fresh annual /Export C of A

Location: USA

BELL 212 (Five Available)

Leonard Hudson Drilling Price:

Please Call

Year:

1991-1996

S/N:

Call for details

Reg:

Call for details

TTAF:

Call for details

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

Five, Late Model, Bell 212s In 'Off Shore’.

Available for immediate use.

Asking $3.1M to $3.6M USD. Serial numbers: 35034, 35048, 35060, 35088 and 35096

Location: USA

Lear 31A

Dulcich Jet Price:

$1,000,000 USD

Year:

1993

S/N:

087

Reg:

N535PS

TTAF:

6300

Tel: +1 (503) 781 2725 Email: aveatr1@comcast.net 36 inch cargo door, Raisebeck aft locker, Engines on MSP Gold, N1 DEECS, Dee Howard TR's, Paint 2007. EFIS 50, Universal 1B+,8.33spacing,TCASII, EGPWS. Fresh D check from West Star Aviation 3/14. On CAMPS

Location: USA, OR

134

WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

Aircraft Index see Page 4

P133-137 25/06/2014 13:07 Page 4

Marketplace Cessna Citation CJ1

Price:

USD 1,550.000

Year:

2002

S/N:

N 525-0476

Reg:

D-IRSB

TTAF:

3470

Location: Germany

Dassault Falcon 7X

Great condition, On Tap Elite, Airframe on ProAdvantage, EASA Certified, RVSM, Cescom, Maintained EU-OPS/Part M, Avionics EFIS/Flight Director: Collins Pro Line 21 3-Tube, Compass: Dual Collins AHC-3000 AHRS Exterior: Snow White w/Platinum, Gray & Black striping. Teflon coated 09/2011 Features: Safe Flight N1 Computer, Locator Beacon,Crew NAV Chart Cases, Cockpit Speaker Mute Switch, Engine Synch,8" x 10" Multi-Function Display, Monorail Sunvisor, Dual Cockpit 110-Volt AC Outlet, etc

Tel: +44 (0) 7876 450 079 Email: mike@malmbergaviation.com

Malmberg Aviation Price:

Make offer

Year:

2010

S/N:

77

Reg:

D-APLC

TTAF:

1261

Location: Germany

Dassault Falcon 900EX EASy

Tel: +1 (503) 781 2725 Email: aveatr1@comcast.net

Mr. Duparré / Mrs. Schorr

One of the nicest F7X aircraft ever. The aircraft has the very attractive 15 seat interior with medium brown matte wood and light white-grey leather, full galley, 15 passenger layout.

Forward cabin with two double clubs. Mid Cabin with four seat conference group plus extra two seat club on starboard side instead of the credenza. Aft cabin with two seat club on the starboard side and a three place divan on the port side that easily converts into a large bed.

Attractively priced.

Tel: +44 (0) 7876 450 079 Email: mike@malmbergaviation.com

Malmberg Aviation Price:

Make Offer

Year:

2007

S/N:

171&179

Reg:

SE-DJA(B)

TTAF:

1800

SISTERSHIPS. Corporate owned and flown. One owner since new. Always hangared. Never chartered. Meticulously cared for. Excellent pedigree. Recent C check with EASy II upgrade, dry bay mod and landing gear revision. MSP Gold. 14 pax layout with fwd crew lav. Early viewing highly recommended! Sold together or separately.

Contact: Mikael Malmberg

Location: Sweden

Bombardier Learjet 31A

J. Preiss-Daimler Consulting Price:

Negotiable

Year:

1992

S/N:

31A-057

Reg:

DCJPD

TTAF:

6670

Tel: +49 (0) 35204 96511 Email:pd-consulting@pd-group.com

Engines on MSP Gold 7665 Landings In Great Condition Please call - Jürgen Preiss-Daimler +49 (0) 35204 - 96515 to MAKE OFFERS

Location: Germany

Bombardier Learjet 60XR

Skyservice Business Aviation Price:

$7,900,000 USD

Year:

2013

S/N:

60-426

Reg:

C-GJDR

TTAF:

6670

Location: Canada

Advertising Enquiries see Page 8

www.AvBuyer.com

Tel: +1 (403) 592 3715 Email: geoff_carlyle@skyservice.com

SkyService is pleased to offer this outstanding Lear 60XR to the marketplace for immediate sale. Nicely equipped including RockwellCollins Datalink(with 3rd VHF) (XR), Cockpit Speaker Mute, TWR-850 Enhanced Weather Radar (Exchange) L3 Communications StormScope WX-1000E (XR), 2nd Rockwell Collins ADF-462 Swift Broadband (Inmarsat Satcom) Microwave Oven – 28VDC (XR), Airshow, Wifi. XR Executive Floorplan F-1 (Eight Passenger).

Contact: Geoff Carlyle

WORLD AIRCRAFT SALES MAGAZINE – July 2014

135

P133-137 25/06/2014 13:11 Page 5

Marketplace Piaggio Avanti P180

GCSurplus.ca Price:

USD $1,800,000

Year:

2003

S/N:

1065

Reg:

C-GFOX

TTAF:

4927.8

Tel: +1 (613) 991 2935 Email: adam.clarke@pwgsc.gc.ca Available via Online Sealed Bid Auction. - GCSurplus Minimum Bid: $1,800,000 CDN. End date June 27th, 2014 Full specs available contact: Adam Clarke +1 613-991-2935 / +1 613-854-9769 Price: Reduced to USD 1,800,000

Location: Canada

Eurocopter EC 120B

Christopher Mace Price:

£625,000 excl VAT

Year:

2001

S/N:

1236

Reg:

G-ISSY

TTAF:

2615

Tel: +44 (0)1603 518115 Email: cm@saxonair.com UK delivered, one owner from new. Eurcopter UK VIP spec, flotation equipment. Sold with fresh 12yr check & new paint of choice. Engine has 12yr calendar life remaining

Location: Germany

Hawker 900XP

Beechcraft GmbH Price:

Please Call

Year:

2012

S/N:

TBD

Reg:

N-Reg

TTAF:

1.046

Tel: +49 (0)821-7003-100 Email: sales@beechcraft.de N-Reg, Pro Line21, 2xHF-9000, 2xFMS-6000, 2xTDR-94D XPDR, TCAS II, RVSM capable, SSFDR, Aircell & Highspeed Internet, on JSSI, with several Warranties – Aircraft like new!

Location: Europe

Hawker 900 XP

Beechcraft GmbH Price:

Please Call

Year:

2009

S/N:

TBD

Reg:

N-Reg

TTAF:

2.649

Tel: +49 (0)821-7003-100 Email: sales@beechcraft.de N-Reg, Pro Line21, 2xHF-9000, 2xFMS-6000, 2xTDR-94D XPDR, TCAS II, GPS-4000, RAAS, Airshow 4000, in CAMP, MSP, CASP program (Avionics extended Warranty) - top condition!

Location: Europe

THE WORLD’S FINEST

Business Jets, Turboprops and Helicopters

for sale at

www.AvBuyer.com and lots more...

136

WORLD AIRCRAFT SALES MAGAZINE – July 2014

www.AvBuyer.com

Aircraft Index see Page 4

P133-137 25/06/2014 12:27 Page 6

Par Avion Ltd FALCONS • HAWKERS • LEARS

www.paravionltd.com SALES • ACQUISITIONS • CONSULTING

Alberth Air Parts

+1 832 934 0055

Spare Parts •BUY •SELL •TRADE CESSNA LEARJET HAWKER WESTWIND FALCON GULFSTREAM

www.alberthaviation.com Fax: +1 832 934 0011

Copy date for the August issue

Wednesday 16th July 2014 World Aircraft Sales (USPS 014-911), July 2014, Vol 18, Issue No 7 is published monthly by World Aviation Communications 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: World Aircraft Sales Magazine 1210 West 11th Street, Wichita, KS 67203-3517. Postage is paid at Wichita, KS and additional mailing offices.© Copyright of World Aviation Communications Ltd. Every effort is made to ensure the accuracy of material published in World Aircraft Sales 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 World Aircraft Sales 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.

Advertiser’s Index 21st Century Jet Corporation ...............................138

Dassault Falcon Jet Europe...................................2-3,

Jeteffect .....................................................................132

Aero-Dienst ...............................................................122

Donath Aircraft Services...........................................33

JETNET ........................................................................89

AeroSmith/Penny.....................................................121

Duncan Aviation..........................................................75

John Hopkinson & Associates........................67, 128

AIC Title Services.......................................................83

Eagle Aviation..............................................................23

Leading Edge..............................................................69

Amjet .............................................................................57

Elliott Aviation..............................................................39

Lektro..........................................................................137

Aradian Aviation ..........................................................79

Elite London ................................................................88

Mente Group ............................................................120

Aviation Advisors .....................................................123

Florida Jet Sales.......................................................119

Mesinger Jet Sales ..............................................19-21

Aviatrade ...........................................................126-127

Freestream Aircraft USA....................................43-45

NBAA Convention......................................................97

Avjet Corporation.................................................34-35

General Aviation Services ........................................51

Northern Jet Management.............................116-117

Avpro ......................................................................10-14

Global Jet..........................................................113-115

OGARAJETS........................................................30-31

Bell Aviation ..........................................................48-49

GKG Law ..................................................................108

Par Avion ......................................................................87

Bombardier................................................................1, 5

Gulfstream Pre-Owned ......................................28-29

Rolls-Royce .................................................................59

Boutsen Aviation ........................................................65

Hawker Pacific .........................................................124

Sojourn Aviation ...................................................46-47

Central Business Jets.............................................139

Intellijet International .................................................6-7

Southern Cross Aviation...........................................95

Charlie Bravo ..............................................................25

Intercontinental A/C Group .....................................53

Sun Jet International.......................................110-112

CIBAS 2014.............................................................101

International Bureau of Aviation............................125

Survival Products.....................................................108

Conklin & de Decker ...............................................108

Jet Sense ...................................................................118

Tempus Jets.................................................................27

Corporate AirSearch Int’l .......................................109

Jet Support Services (JSSI) ....................................15

VREF Aircraft Values ..............................................108

Corporate Concepts .................................................55

JetBrokers..............................................................36-37

Wright Brothers Aircraft Title...................................77

Jetcraft Corporation ..................................40-41, 140 Advertising Enquiries see Page 8

www.AvBuyer.com

WORLD AIRCRAFT SALES MAGAZINE – July 2014

137

21st Century March 19/02/2014 17:14 Page 1

Tri-Jets have earned a stellar reputation among owners and operators and usually command higher resale values than the competition.

With efficient space management the Falcon 900 aircraft have a larger passenger seating area than the Gulfstream IV. These Tri-Jets weigh 15 tons less and are 22 feet shorter, providing a more beneficial ramp presence.

The 900EX can speed across the Atlantic with all seats full at 0.84 IMN; and has 300 NM greater range than the Gulfstream IV-SP. Furthermore, the 900EX can fly from London to Kansas City, Buenos Aires to New Orleans and Anchorage to Seoul at 0.75 IMN with eight passengers and NBAA IFR reserves.

Revolutionary and the world's first purpose built fly-by-wire (FBW) business jet, the Falcon 7X capitalizes on Mach 2 technology.

If you are considering the sale or acquisition of your business jet, call 21st Century Jet Corporation today for details before making a decision.

DISTINCTIVE BUSINESS JET SALES & ACQUISITIONS. INCORPORATED IN 1989 TEL: 1.775.833.3223

INTERNET: WWW.TRI-JETS.COM

E-MAIL: sales@tri-jets.com

CBJ July_CBJ November06 24/06/2014 10:45 Page 1

General Offices

Mexico office

Minneapolis / St. Paul

TEL: 52.55.5211.1505

TEL: (952) 894-8559

CELL: 52.55.3901.1055

FAX: (952) 894-8569

E-MAIL: Enrique CBJets.com

EMAIL: INFO@CBJETS.COM

Celebrating 30 Years!

GULFSTREAM G200 SN 199 2000 GULFSTREAM V SN N33M Of fered by Original Fortune 100 Corporation, Over 40+ Year History as a Fleet Operator of Gulfstream Aircraft, Honeywell Satcom with Wifi, Immaculate Maintenance, RRCC Engine Program

1960 TT / 1040 Landings, ESP Gold, Meets all EASA / JAR OPS Requirements, Impressive List of Options including Aerial View Camera

FALCON 50EX SN 255 2 Midwestern Owners Since New, MSP Gold, Dual Laseref, Dual NZ2000's, Satcom

FALCON 900EXy SN 121

FALCON 50-40 SN 25

Single Owner, Former Falcon Demonstrator, Most Systems are Triple, 2529 Total Hours, FWD & AFT Lavs, AFT Cabin Divider, MSP Gold

Last Falcon 50 Ever to be Multi-million Dollar Converted, Proline 21 cockpit, TFE-40 Engines on MSP Gold, 50EX Interior New 2010

FALCON 900B SN 155 Always US Owned, 6400 TT, MSP Gold, Forward & Aft Lavs, Dual Aft Couches

FALCON 900C SN 194 Single Owner, 3850 Total Hours, 2060 Cycles, MSP Gold, Standard Interior w/ Dual Aft Couches, FWD & AFT Lavs.

FALCON 20F SN 470 - FALCON 900C ENGINES & APU MOD 7827 TT / 5009 Landings, MSP Gold, Collins Proline II EFIS Cockpit, Dual Collins Radio Tuning Units, Dual Universal 1L’s w/WAAS, ETC

CITATION VII SN 7064 Owners new Falcon is arriving soon!! 2 Midwestern Owners Since New, Maintenance Professionally Overseen, MSP Gold Engines, DOC 1, 2, 7, 8, 20, 28, 36, 47 and 48 Inspections among others starting at Cessna Wichita in 10 days

www.cbjets.com ALSO AVAILABLE: Gulfstream IISP SN210 * Falcon 900EXy SN238 (Lease Only)

Just because you no longer have connecting flights

you no longer need connections.

The right aircraft can turn up anywhere—which means you need to know the right people everywhere. We’ve been cultivating worldwide connections for over 50 years, from legal and financial resources to the top aviation experts. Today our unmatched global network gives you eyes, ears and business savvy around the planet. A larger inventory of options. And fast, smooth, face-to-face transactions.

Want the best value in the business? Just connect the dots. www.jetcraft.com I info@jetcraft.com I Headquarters +1 919-941-8400

I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I

FEATURED INVENTORY

2010 Challenger 605 - SN 5776

791 Hour Total Time; 228 Landings CAMP Systems Maintenance Tracking

2004 Falcon 900C - SN 201

In Cooperation with Global Jet Monaco Fresh A/A+/2A/4A/Z Inspections

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2009 Global 5000 - SN 9289 Entry Into Service 6/2009 Airframe on Smart Parts Plus 2010 Agusta A109 Power 2002 Airbus A320VIP 2010 Challenger 300 2000 Challenger 604 2011 Challenger 605 2008 Challenger 850 2003 Falcon 2000EX 2012 Falcon 7X 2012 Global 5000

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2015 Global 6000 2005 Global Express 2009 Global XRS 1992 Gulfstream IV 2000 Gulfstream V 1991 Hawker 1000B 2005 Lear 45XR 2004 Lear 60SE Q4 2015 Legacy 500

2014 Global 6000 - SN 9562

Immediately Available – EASA JAR-OPS1 Compliant 13 Passenger with Crew Rest

2006 Gulfstream G450 - SN 4064

2,210 Hours Total Time; 725 Cycles - HUD / EVS PlaneView Certification Foxtrot

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DOESN’T MEAN

6/17/14 2:18 PM