world aircraft sales magazine august-12

The global marketplace for business aviation August 2012

www.AvBuyer.comWORLD™

Business Aviation & The Boardroom: pages 50 - 79 • Plane Sense on Refurbishments

proudly presents

1999 Learjet 45BRSerial Number 45-032

See page 11 for further details

FC August 2012_FC December 06 25/07/2012 12:43

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4 WORLD AIRCRAFT SALES MAGAZINE – August 2012

Aircraft For SaleAIRCRAFT PAGE AIRCRAFT PAGE AIRCRAFT PAGE AIRCRAFT PAGE

IN THIS ISSUE

AEROSTARSuperstar 700 . . 36,

AIRBUSA318 Elite. . . . . . 16,ACJ . . . . . . . . . . . 34,

BOEING/MCDONNELLDOUGLASBBJ . . . . . . . . . . . 11, 33, 71,BBJ 700C . . . . . . 14,727-100 . . . . . . . 75,727-100 REW. . . 132,Super 27-100 . . 75,Super 27-200-REW..75,Super 727-100-REW. .16,737-300-VIP. . . . 147,737-500 . . . . . . . 147,757-200 . . . . . . . 75,MD 87 . . . . . . . . . 55,

BOMBARDIERGlobal 5000 . . . . 16, 25, 61, 73, 151, . . . . . . . . . . . . . . . 156,Global 6000 . . . . 6, 67, 156,Global 7000 . . . . 67,Global Express . 6, 13, 16, 21, 27, 35. . . . . . . . . . . . . . . 134, 135, 151, 156,Global Express XRS.. 35, 71, 156,Challenger300 . . . . . . . . . . . 17, 34, 61, 109, 150,. . . . . . . . . . . . . . . 156,601 . . . . . . . . . . . 156,601-1A . . . . . . . . 27, 30, 36, 45,601-3A . . . . . . . . 18, 25, 109,

601-3A ER . . . . . 17, 18, 150,604 . . . . . . . . . . . 17, 25, 29, 34, 43, 61,. . . . . . . . . . . . . . . 67, 77, 81, 156, 605 . . . . . . . . . . . 6, 33, 34, 40, 61, . . . . . . . . . . . . . . . 152, 156,850 . . . . . . . . . . . 34,Learjet 31A . . . . . . . . . . . 27, 31, 73, 81, 109,35A . . . . . . . . . . . 27, 36, 61, 113,40 . . . . . . . . . . . . 67,40XR . . . . . . . . . . 143,45 . . . . . . . . . . . . 27, 31, 61, 67, 89,. . . . . . . . . . . . . . . 113,45BR . . . . . . . . . . 1, 1145XR . . . . . . . . . . 29,60 . . . . . . . . . . . . 27, 59, 113,60SE . . . . . . . . . . 18,60XR . . . . . . . . . . 11, 18, 27, 149,

CESSNACitationISP . . . . . . . . . . . 30, 31, 59, 65,II. . . . . . . . . . . . . . 30, 36, 65, 133,IISP . . . . . . . . . . . 36,III . . . . . . . . . . . . . 37,V. . . . . . . . . . . . . . 18, 27, 36,VII . . . . . . . . . . . . 140, 156,X . . . . . . . . . . . . . 6, 25, 59, 81, 156,XLS . . . . . . . . . . . 18, 77, 150,XLS+ . . . . . . . . . . 30, 34, 152,550 . . . . . . . . . . . 73,560 . . . . . . . . . . . 73,650 . . . . . . . . . . . 5,CJ1. . . . . . . . . . . . 23,CJ2. . . . . . . . . . . . 36, 59, 65, 73, 148,. . . . . . . . . . . . . . . 150, 156,

CJ2+ . . . . . . . . . . 30, 136,CJ3. . . . . . . . . . . . 27, 73, 107, 144,Bravo . . . . . . . . . 36, 37, 138,Encore . . . . . . . . 155,Encore +. . . . . . . 155,Excel . . . . . . . . . . 30, 73, 77, 155, 156,Jet . . . . . . . . . . . . 27, 59, 65, 81,Mustang . . . . . . . 23,SII . . . . . . . . . . . . 30, 43, 55, 107,Sovereign. . . . . . 27, 36, 45, 77,Stallion . . . . . . . . 37,T206H . . . . . . . . . 65,Ultra . . . . . . . . . . 18, 30, 91, 141,ConquestI . . . . . . . . . . . . . . 65, 152,II. . . . . . . . . . . . . . 31,Grand Caravan208B . . . . . . . . . . 149,

CIRRUSSR22 . . . . . . . . . . 65,

DORNIERDornier 228 . . . . 117,Dornier 328 . . . . 147,

ECLIPSE500 . . . . . . . . . . . 151,

EMBRAERERJ 135 . . . . . . . 33,ERJ 145 . . . . . . . 33,Legacy 600 . . . . 16, 55, 59, 61, 73,. . . . . . . . . . . . . . . 109, 156,Legacy 650 . . . . 73,

Lineage 1000. . . 16,Phenom 100 . . . 59, 107,

FALCON JET7X . . . . . . . . . . . . 3, 6, 30, 73, 81, 109,. . . . . . . . . . . . . . . 154, 156,20C-5BR . . . . . . 36,50 . . . . . . . . . . . . 11, 17, 25, 35, 36, 81,. . . . . . . . . . . . . . . 154,50EX . . . . . . . . . . 5, 22, 154,900B . . . . . . . . . . 27, 36, 73, 146, 154,900C . . . . . . . . . . 154,900EX EASy . . . 3, 17, 71, 154, 155,900EX . . . . . . . . . 21, 29, 154,2000 . . . . . . . . . . 3, 22, 25, 43, 140,. . . . . . . . . . . . . . . 155,2000DX EASy . . 34,2000EX EASy . . 3, 17, 156,2000LX . . . . . . . . 3, 19,

GULFSTREAMIII . . . . . . . . . . . . . 17, 59, 109,IV . . . . . . . . . . . . . 12, 16, 17, 27, 33, 35. . . . . . . . . . . . . . . 87, 139, 156,IVSP . . . . . . . . . . 21, 27, 35, 145, 156,V. . . . . . . . . . . . . . 33, 71, 105, 156,100 . . . . . . . . . . . 77,150 . . . . . . . . . . . 77, 83, 105, 113,200 . . . . . . . . . . . 6, 27, 28, 36, 105, . . . . . . . . . . . . . . . 113, 151,450 . . . . . . . . . . . 6, 15, 16, 71, 77, 105,550 . . . . . . . . . . . 6, 25, 77, 105, 156,Twin Commander 690B.. 107,Twin Commander 900. . . 107,Twin Commander 1000. 107,

234 Air Park Blvd., Aiken, SC (USA) 29805-8921Tel: USA +1 803-641-9999 • Fax: USA +1 803-641-4040

www.air1st.com • Email: [email protected]

Aviation Companies, Inc.

1981 MU-2 MARQUISES/N 1510SA, N17HG, 3840TT, 3840/3840 SNEW, 630/630 SHSI/SGBI,

135/320 SPOH, GNS-400, Collins Pro-Line, Sandel 4” EFIS, SPZ-500 A/P,New Interior (2012). U.S. $650,000.

1980 MU-2 SOLITAIRES/N 424SA, N82AF, 7485TT, 385/385 SOH, 75/75 SPOH, GNS 530 WAAS, AvidyneFlight Max, 7500-hr, inspection, New P&I (2010) to customer specs. U.S. $675,000.

1974 MU-2K Dash 10 on MSP - Price ReducedS/N 305, N50K, 6370TT, 1180/1180 since -10 (MSP), 750/750 SPOH,

Dual Garmin 430’s, RDR-2000, M4-D A/P, New Paint (2009). U.S. $535,000.

1980 MU-2 MARQUISES/N 756SA, 5Y-MUZ. 12925TT, 1990/2060 SOH, 1990/2060 SHSI, 260/220 SPOH,

Collins Pro-Line, M4D A/P, New Paint (2010), Located in Africa. U.S. $475,000.

1975 MU-2MS/N 326, N165MA, 3750TT, 3750/3750 SOH, 235/235 SHSI, 680/370 SGBI,

410/410 SPOH, GTN-750/650, Traffic, XM Weather. U.S. $395,000.

1972 MU-2KS/N 240, N64LG, 6100TT, 4655/4655 SOH, 1100/1100 SHSI/SGBI, 920/775 SPOH,

Garmin G-600, Dual GNS-430W’s, Dual GTX-320 TXP’s, TCAS, XM Weather.U.S. $295,000.

AC Index August2011 26/07/2012 13:03 Page 1

WORLD AIRCRAFT SALES MAGAZINE – August 2012 5

08.12• AIRCRAFT • HELICOPTERS • PRODUCT & SERVICE PROVIDERS

HAWKER BEECHCRAFTBeechcraft 400 . . . . . . . . . . . 37,400A . . . . . . . . . . 31, 150,Premier 1 . . . . . . 36,Premier 1A . . . . . 77, 89,King Air200 . . . . . . . . . . . 31, 36,200XPR . . . . . . . 36,350 . . . . . . . . . . . 27, 36, 77, 113,B200 . . . . . . . . . . 23, 31, 59, 77, 113,C90 . . . . . . . . . . . . . 36, 73, 77, 113,C90B . . . . . . . . . . 18,F90 . . . . . . . . . . 36, 83, 89,Hawker400XP . . . . . . . . . 27, 37, 77,700A . . . . . . . . . . 37,800A . . . . . . . . . . 6, 18, 148,800B . . . . . . . . . . 61, 71,800SP . . . . . . . . . 75,800XP . . . . . . . . . 27, 35, 37, 77, 113,850XP . . . . . . . . . 71, 77,900XP . . . . . . . . . 67, 77, 155,1000B . . . . . . . . . 142,4000 . . . . . . . . . . 18, 155,

IAIAstra 1125 . . . . . 27, 155,Astra SPX. . . . . . 43, 81,

LANCAIRLancair L4 . . . . . 27,

MITSUBISHIMU-2K . . . . . . . . 4,MU-2M . . . . . . . . 4,MU-2K Dash 10 .4,MU-2 Marquise . 4,MU-2 Solitaire . . 4,

PIAGGIOP180 Avanti . . . 27,

PILATUSPC12/45 . . . . . . . 27,PC12/47 . . . . . . . 147,

PIPERJetprop DLX . . . . 43,Meridian . . . . . . . 31,Malibu Mirage . . 65,

SABRELINER65 . . . . . . . . . . . . 36,

SOCATATBM 700A . . . . . 83,

TBM 700B . . . . . 36, 83, 137, 147,. . . . . . . . . . . . . . . 149,TBM 700C1 . . . . 36,TBM 850. . . . . . . 36, 83,

HELICOPTERSAGUSTAWESTLANDAW Grand . . . . . . 73,AW 109C . . . . . . 73, 151,AW 109E. . . . . . . 127,AW 109E Power 149,

A109S Grand. . . 89,A119 Koala . . . . 77,AW 139 . . . . . . . . 22,

BELL205 . . . . . . . . . . . 121,206L3 . . . . . . . . . 89,206L4 . . . . . . . . . 148,212 . . . . . . . . . . . 148,230 . . . . . . . . . . . 73,412EMS . . . . . . . 148,

EUROCOPTERAS350BA . . . . . . 73,AS350B3 . . . . . . 73,AS 355 N . . . . . . 89,

AS 355 NP . . . . . 73,AS 365 N2 . . . . . 127,AS 365 N3 . . . . . 89,EC 120B . . . . . . . 127,EC 130-B4 . . . . . 11,EC135T2i . . . . . . 73,

MCDONNELL DOUGLASMD 600N . . . . . . 77,

SIKORSKYC+ . . . . . . . . . . . . 69,C++ . . . . . . . . . . . 69,S-76A+ . . . . . . . . 89,S-76B . . . . . . . . . 27, 155,S-92 . . . . . . . . . . 69,

CORPORATE AVIATIONPRODUCTS & SERVICESPROVIDERSAircraft Engine /Support . 85, 94,Aircraft Perf & Specs . . . . . 48,Aircraft Title/Registry . . . . 49, 63,Avionics . . . . . . . . . . . . . . . . . 99,Finance . . . . . . . . . . . . . . . . 48,Ground Handling . . . . . . . . 93,Photography . . . . . . . . . . . . 93,

AIRCRAFT PAGE AIRCRAFT PAGE AIRCRAFT PAGE AIRCRAFT PAGE

Find an Aircraft DealerThe World’s leading aircraft dealers and brokers - find one today

avbuyer.com/dealers

AC Index August2011 26/07/2012 13:04 Page 2

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8 WORLD AIRCRAFT SALES MAGAZINE – August 2012 www.AvBuyer.com

World Aircraft SalesEDITORIAL

Deputy Editor (London Office) Matthew Harris

1- 800 620 8801 [email protected]

Editor - Boardroom GuideJ.W. (Jack) Olcott1- 973 734 9994

[email protected]

Editorial Contributor (USA Office)Dave Higdon

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Consulting Editor Sean O’Farrell

+44 (0)20 8255 [email protected]

ADVERTISINGKaren Price

1- 800 620 8801 [email protected]

Karen Schaefer (USA Office)1-386 767 [email protected]

STUDIO/PRODUCTIONHelen Cavalli/ Mark Williams

1- 800 620 [email protected]@avbuyer.com

CIRCULATIONLynne Jones

1- 800 620 [email protected]

AVBUYER.COMNick Barron

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Emma Davey [email protected]

PUBLISHERJohn Brennan

1- 800 620 [email protected]

USA OFFICE1210 West 11th Street,

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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)

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PanelAug12 25/07/2012 09:15 Page 1

Contents

WORLD AIRCRAFT SALES MAGAZINE – August 2012 9Advertising Enquiries see Page 8 www.AvBuyer.com

Regular Features10 Viewpoint20 AIReport26 BizAv Round-up39 Market Indicators80 Aviation Leadership Roundtable82 Aircraft Specs & Performance Tables92 Teal Briefing112 Navigating 360˚

Next Month’s IssuePlane Sense on Cockpit Avionics

Medium Jets Review

Featured Articles - Business Aviation and the Boardroom50 Governing Specialties: Knowing when and where to find help with

Business Aviation, and the need to heed the advice of your aviation professionalsare fundamental Board responsibilities.

52 Managing Business Aviation: As more corporations are accepting Business Aviation as a normal travel option, aviation professionals have responded by expanding their management skills.

54 The Metrics of Business Aviation Safety: While there’s still room for development, the Risk Assessment Tool (RAT) and the Flight RAT are potentially huge advancements to measuring flight safety.

58 After the Parade Passes By: Enthusiasm and emotion can distort how you quantify value. So how can you ensure you enjoy the value of Business Aviation long after the newness of the company’s asset has worn off?

62 Preparing for Federal Tax Challenges: Tax Boards are well-advised tostructure aircraft acquisition and operations with a sharp eye toward what tax auditors want to see... Here’s how you can start...

66 ‘PUNC’: Your checklist for insurance coverage: Pilots, Use, Named Insured and Contracts capture the four most important areas of aviation insurance. Read more…

70 Taxpayer Value – Shareholder Value: Business Aviation provides taxpayer value when the government uses it, and provides shareholder value when corporations use it to further their business.

74 The Medium Jet Value Guide: A look at the benefits of Medium Jets, and a listing of values for models built over the last 20 years.

Main Features44 Aircraft Comparative Analysis - Cheyenne II: How does the performance of

the Cheyenne II stand out against the Twin Commander 980 and Mu-2 Solitaire?

Plane Sense on Refurbishments -96 It’s In The Detail: Janet Beazley outlines the ten key steps to planning a major

facelift for your aircraft, internally and externally.

102 The FAQs of Refurb: A selection of the popular questions asked before, during and after the refurbishment process, along with some answers…

110 Refurb ‘Gotchas’: To avoid expensive surprises, it’s well worth budgeting for some surprises along the process of your refurbishment. Steve Watkins explains.

116 Safety Matters – Man versus Machine: Dave Higdon looks at why, with the increasingly sophisticated panels available to pilots, it becomes ever more important to maintain hand-flying skills.

120 Dealer Broker Market Update: Profits soar, equities grow – but aircraft sales are comparatively sluggish. We ask the dealers and brokers for their up-close-and-personal experiences of the market.

129 Aircraft Ownership Trusts: With a final position from the FAA on Non-Citizen Trusts iminent, Greg Cirillo reviews the role of aircraft ownership trusts and the expected enhanced role of the trustee.

Volume 16, Issue 8 – August 2012

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62

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PanelAug12 25/07/2012 14:08 Page 2

10 WORLD AIRCRAFT SALES MAGAZINE – August 2012 Aircraft Index see Page 4www.AvBuyer.com

by Gil Wolin

ne benefit of the free marketsystem is that competition doeskeep the cost of goods and serv-ices low. Sometimes it keeps

them too low…a fact that isabundantly evident in business jet charter. Butmaybe – just maybe – that is about to change.

The charter client never has paid the fully-loaded cost to fly a business jet. And it’s beenthat way since business jet charter first sur-faced with EJA in 1964. EJA owned its originalfleet of Learjet 23s and 24s – but as adealer/distributor, its capital cost was low, aswas Jet A fuel (at less than twenty cents pergallon).

What’s more, pilot services were relativelyinexpensive. Recently-retired Air Forcecolonels were available from Lockbourne(later known as Rickenbacker) Air Force basenear EJA’s Columbus, Ohio headquarters.These were seasoned jet captains who neededa relatively small salary to supplement theirgovernment pensions and retirement benefits.That, coupled with EJA’s position as a “lossleader” for its original parent, the PennCentral Railroad, meant jet charter in the1960s was a very good deal, especially sinceother charter companies had to match EJA’spricing in order to compete.

Even when a new operating model sur-faced in 1967 with the advent of jet chartermanagement company Executive Air Fleet(EAF) at Teterboro, NJ, the cost of charter inthe US remained unusually low. EAF man-aged a range of aircraft makes and models forowners who were willing to have their aircraftchartered to third parties when they weren’tflying.

This enabled charter clients to fly mid-sizeand large cabin aircraft paying only the trip’sdirect operating costs plus some modest con-tribution to fixed costs, while the aircraft own-ers shouldered the burden of the cost of capi-tal. Charter remained a very good deal, evenwhen it required paying a higher price fornon-military pilots. This was all in direct con-trast with the European charter model, inwhich fleet aircraft were dedicated to charter,and the charter client had to pay a fully-loaded price per hour.

That began to change with the advent offractional operators. While ostensibly sharedaircraft ownership, fractional simply was arepackaging of the original EJA charter model,with the capital cost broken out as “shareownership.” The tax advantages – investmenttax credits and bonus depreciation – made thecost to own a share quite attractive for thosewho had been charter clients, as did the uni-form standard of safety, equipment, personneland service.

On the heels of fractional came jet cards.Originally developed by charter brokers to sellflights aboard fractional fleet aircraft withoutany capital investment, “pure charter” jetcards soon were developed by other charterbrokers, offering a guaranteed discounted ratein exchange for a pre-paid deposit. TheInternet then enabled brokers to shop for“empty legs” and/or auction each individualtrip to the lowest bidder. Again, charterbecame a terrific deal for the client – provid-ing that the “low bidder” is also a high-quali-ty, properly-audited operator.

Today, there is a sea change afoot in busi-ness jet flight services. Several new chartersales organizations and aircraft managementcompanies have surfaced recently, each withkey employees with former national charterbroker or jet card company experience – per-haps they sensed a coming shift in business jettravel buying habits... That shift in buyinghabits certainly does appear to be the case.Data indicate that there may be a migration offractional owners into jet cards, once theirfive-year share commitment expires. The jetcard gives them more flexibility without thecapital commitment, increasingly importantduring this sluggish economy.

Some fractional programs are moving intostraight charter. CitationAir already hasmigrated to that model and it appears thatFlight Options is moving in that direction,with its recent purchase of Sentient Flight.

CitationAir has defined a smaller area ofoperations (the Eastern US) to avoid the exces-sive non-revenue flying required to coverWest Coast operations. There will be a higherrate for flying outside of that primary area –exactly what EJA did during the 1970s, where

guaranteed ratesand responsetimes were avail-able only east ofthe Mississippi.

Fractional pro-grams rarely havemade money onthe operating line,but they have onthe resale of thedepreciated air-craft – hence thefive-year contract term. Restricting the guar-anteed response time and creating differentialpricing should help them move toward oper-ating profitability. But if customers are mov-ing away from fractional ownership and intojet cards or pure charter, then the fractionalsare still faced with the cost of owning the air-craft. That leaves them with two choices – fol-low their clients into charter and convert (asCitationAir has).

Alternatively they can move into leasingtheir fleets much as the airlines have done forthe last thirty years, via either captive OEMfinance companies or third-party leasingorganizations. The lessors would make thefleet purchases at significant discounts andgarner any tax or depreciation benefits. Thefractional operating company then gets lowerequipment costs, which will be critical if theyare to compete with pure charter managementcompanies, whose owner-clients continue tocarry the cost of capital.

Charter remains the best deal in BusinessAviation. But the rules – and prices – areabout to change.

❯ Gil Wolin draws on almost forty years of aviationmarketing and management experience as a consult-ant to the corporate aviation industry. His aviationcareer incorporates aircraft management, charter andFBO management experience (with TAG Aviationamong others), and he is a frequent speaker at avia-tion, travel and service seminars. Gil is a past directorof the RMBTA and NATA, and currently serves on theAdvisory Board for Corporate Angel Network andGE Capital Solutions-Corporate Aviation. Gil can be contacted at [email protected]

A Sea Change in Business Aviation

VIEWPOINT

O

Gil Wolin Aug12_Gil WolinNov06 23/07/2012 17:10 Page 1

Please allow us to match you with the perfect aircraft for your needs

and budget. We look forward to your phone call or email inquiry.

1455 W. Hubbard St. - 2nd FloorChicago, IL 60642 USA

thejetcollection.comP: 312.226.8541 F: 312.226.8542

[email protected]

2014 BBJ S/N TBD

2008 LEARJET 60XR S/N 60-342 2008 LEARJET 60XR S/N 60-335

1999 Learjet 45BR S/N 45-032

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Specifications and/or descriptions are provided as introductory information. They do not constitute repre-sentations or warranties of The Jet Collection. You should rely on your own inspection of the aircraft.

1982 FALCON 50 S/N 107

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2014 BBJ S/N TBD 1999 Learjet 45BR S/N 45-032

2008 LEARJET 60XXR S/N 60-342 2008 LEAARJET 60XR S/N 60-335

2002 EC130-B4 S/NN 3515 AL1982 FFALCON 50 S/N 107

Specifications and/or sentations or warrantie

ovided as inte prdescriptions arou shes of The Jet Collection. YYo

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Jet Collection August 23/07/2012 12:09 Page 1

A Unique 50% Ownership Opportunity With No Cash Down

Avjet is pleased to offer 50% ownership of one of the greatest business jets ever made, the Gulfstream IV. This aircraft is expertly managed and operated by Avjet. This is a turn-key VIP air travel solution that leverages all the benefits of private jet ownership without the complexities of staffing a flight department.

50% ownership opportunity for potentially no cash down!

Partner will pay value difference in loan to fair market value.

Buyer must assume an existing loan.

Aircraft presently generates almost $2,000,000 per year in charter revenue.

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Marc J. Foulkrodorld HeadquartersW

PresidentMark H. LefeverCharter & Management

Phone: +1 (410) [email protected] Vice President, Global SAndrew C. BradleyGlobal Sales & Acquisitions

Phone: +1 (818) [email protected] and Chief ExecutivMarc J. Foulkrod

Sales and Acquisitions

ve Officer

MOC.VJETT.AAVPhone: +1 (818) [email protected]


Marc J. Foulkrodorld HeadquartersW

PresidentMark H. LefeverCharter & Management

Phone: +1 (410) [email protected] Vice President, Global SAndrew C. BradleyGlobal Sales & Acquisitions

Phone: +1 (818) [email protected] and Chief ExecutivMarc J. Foulkrod

Sales and Acquisitions

s

ve Officer

MOC.VJETT.AAVPhone: +1 (818) [email protected]


SERIAL NUMBER 4044

AIRFRAME Total Time: 1,965.1 hours • Landings: 857

ENGINES Rolls Royce TA Y611-8C

Engine #1 Engine #2Serial Number 85094 85095Total Time 1,935 hours 1,935.8 hoursTotal Cycles 842 843Ten Year Calendar Due 2016 2016

APU Honeywell GTC P36-150 S/N P-168, 1,449 TT , 1,750 Cycles. Honeywell MSP.

Serial Number 4044 entails an extensive options list which includes:

• Honeywell Primus Epic Cockpit – Certified “F” Foxtrot• Low total time• Gulfstream Broadband Multilink (BBML )• 14 passenger interior/Aft Galley Configuration

Avjet - FP August 23/07/2012 12:16 Page 1

Avpro August 23/07/2012 12:29 Page 1

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MPLANESGeneva, SwitzerlandTel: +41 22 557 62 47 Cell: +41 76 381 36 [email protected]

ACS August 23/07/2012 12:32 Page 1

he Harvard Business Reviewis an esteemed business publi-cation offering a very wellwritten Blog that covers awide array of topics. Some of

the ones that I seem to find interesting dealwith Psychology and Cognitive Science.

Business is nothing more than appliedpsychology. It involves human behavior,both as individuals and in groups. I likereading some of the science behind why webehave (management) and act (or buy =marketing). I just read two articles that,although unrelated, seemed to cometogether for me.

The first article was titled "Do You KnowWhat You Don't Know?" When you reallyask people, it is amazing how much wedon't know. The author used an example ofhow does a zipper work? We all use themquite successfully, but evidently we don't allunderstand the mechanics of it. The samelogic applies with buzz-words and jargon."Streamlining our processes" may makesense to many, but when you ask what itreally means, we differ in our opinion.

Psychologists call this the illusion ofexplanatory depth. We think we know whatwe know, but we really don't have the depthof knowledge that leads to understanding.

The second article was titled “WhenChoosing a Job, Culture Matters”. As thattitle suggests, the author (not a Psychologist,but a Business Professor) talks of howimportant it is to understand the organiza-tion's culture in order to understand howwell you'd fit in as a new employee. What isthe organization's purpose? How do they getthings done and work together to achievethis?

Both of these need to come together whenevaluating aircraft for an organization. Youneed to understand the culture of yourorganization and to examine what yourboss/client thinks they know about theaviation function.

The corporate culture can be one thatvalues innovation and efficiency. Does itfocus on growing the company by gettingand keeping customers? An organizationexhibiting such culture might tend to valuemission effectiveness of the business aircraft:Get there quickly, get home quickly.

So when discussing the merits of thebusiness aircraft with such an organization,you need to focus on how the business air-craft matches up with its culture, and howwell the aircraft accomplishes the mission.

However, what if the culture is one thatfocuses on controlling and cutting costs, andbeing careful with every dollar spent? Theorganization exhibiting this culture probably

is fiscally conservative. While it may see"value" in the business aircraft, it may bemuch more focused on the cost, rather thanmission-effectiveness. In this case, the busi-ness aircraft decision will be guidedprimarily by the total costs.

In both instances, the company must seea value in having an aircraft. But how thatvalue is perceived can be different.

So how do you apply the logic of know-ing what you don't know? When communi-

cating about theaircraft, its capa-bilities and costs,we need to havean understandingof the fact that wemay not have allthe informationabout the businessto understandwhy it makes thedecision that itdoes. Equally, it may not understand the air-craft as much as we might believe it does. Sowe need to do our best to explore the gaps inknowledge and be open to new concepts. Donot assume that just because the CEO had anaircraft at his/her former company theyunderstand crew rest, maximum range andsales and use taxes on the airplane.

When I work with a client regarding theiroptions for an aircraft, or with the aviationdepartment concerning their justification fora replacement of the current aircraft, it helpsto understand not only their measurablerequirements such as payload, trip length,etc., but also their culture and depth ofknowledge about Business Aviation.

So, how does a zipper work?

❯ David Wyndham is an owner of Conklin & deDecker. The mission of Conklin & de Decker is tofurnish the general aviation industry with objectiveand impartial information in the form of profession-ally developed and supported products and services,enabling its clients to make more informed decisionswhen dealing with the purchase and operation ofaircraft. With over 1,800 clients in 90 countriesaround the world, Conklin & de Decker combinesaviation experience with proven business practices.❯ More information from www.conklindd.com; Tel: +1 508 255 5975. Do you have any questions or opinions on the abovetopic? Get them answered/published in WorldAircraft Sales Magazine. Email feedback to: [email protected]

Do You Know WhatYou Don’t Know ?

T


AIREPORT

In both instances, the company must

see a value in having an aircraft.

But how that value is perceived can

be different.

by David Wyndham

AIReportAug12_AIReport Sept08 23/07/2012 16:36 Page 1

AIRCRAFT FOR SALEFOR MORE INFO VISIT WWW.GUARDIANJET.COM

OR CALL 203-453-0800

Tel: 203-453-0800 Fax: 203-453-4527 Email: [email protected] www.guardianjet.com

2005 Global Express SN 9141Airframe TT - 3831.4$29,995,000

* Enrolled on Rolls Royce Corporate Care Program* Honeywell 2000 XP Integrated Avionics System* Primus 880 Color Wx Radar w/Lightning Sensor System* Third Flightdeck Seat* Securaplane Security & Camera System

2001 Falcon 900EX SN 94Airframe TT - 6276.5

$18,250,000

* Honeywell Primus 2000/ProLine 4* Securaplane Technologies Ultra Lite Security System* Engines & APU enrolled in MSP* Maintenance Tracking by AvTrak* New Paint & Interior in 2010

Photos by FGL & Associates


2002 Falcon 900EX SN 110Airframe TT - 6155.2$18,250,000

* Honeywell Primus 2000* Pilot & Co-Pilot EVAS Systems* Aircell ATG4000 High Speed Internet Broadband System* New carpet installed July 2012* One Fortune Owner Since New


1996 Gulfstream G-IVSP SN 1301Airframe TT - 7860.6

$11,995,000

* Honeywell SPZ-8400 system* Engines enrolled on Rolls Royce Corporate Care* Securaplane 450 Security System* Magnastar C2000* Single Fortune 100 Owner Since New


Guardian Jet 3 page August 23/07/2012 12:36 Page 1


OR CALL 203-453-0800


2004 Falcon 2000 SN 218Airframe TT - 1631.7 $11,750,000

* Enrolled in CAMP Maintenance Tracking Program* One Owner Since New* Collins Proline IV (4 tube) Avioncs Suite with 6.1 SoftwareUpgrade

* Third Flightdeck Seat* Airshow Genesys

2006 Agusta AW139 SN 31061Airframe TT - 516.1

$9,995,000

* Honeywell Primus Epic System/FMS * XM Weather System* Emergency Flotation System with Rigid Covers * One Owner since New * Engines enrolled in MSP Gold



1999 Falcon 2000 SN 86Airframe TT - 6338$9,400,000

* Engines enrolled in CSP* Collins EFIS-4000/ Pro Line 4/ Version 6.1* Collins TWR-850 Weather Radar System* HUD* Wireless Broadband (GoGo Biz) – ATG-4000


2002 Dassault F50EX SN 320Airframe TT - 4629.3

$6,499,000

* Engines enrolled in Honeywell MSP* Collins EFIS-4000 /Pro Line 4* Collins TWR-850 Color Wx Radar* Airshow Genesys* ICS-200 Iridium Flight Phone




OR CALL 203-453-0800


2008 King Air B200GT SN BY-40Airframe TT - 495$4,295,000

* Collins ProLine 21 and Integrated Flight Information System * RVSM Ops Capable * Raisbeck Crown Nacelle Wing Lockers * Raisbeck Dual Aft Body Strakes * One owner since new, always hangared

2006 Cessna CJ1+ SN 0610Airframe TT - 655.8

$3,100,000

* Collins Pro Line 21 Avionics System* Engines enrolled in Williams TAP Elite* WX-1000E Lightning Detection* Mode S Diversity Transponders with Enhanced Surveillancecapability

* One Owner Since New


2009 Citation Mustang SN 510-215Airframe TT - 497.8 $2,345,000

* Engines enrolled in Cessna's PowerAdvantage+ Program* Garmin G1000 advanced avionics system* RVSM Capable* XM Satellite Radio* Two Fortune Owners since new




Th e Art of the TransactionA successful aircraft transaction is truly a work of art.

There are subtle details and vast complexities that make up the big picture. If addressed with dexterity and vision,

the result is a masterpiece. At J. Mesinger Corporate Jet Sales, you will experience this kind of artful, hands-on

approach at every phase of your transaction. Call us today to learn how we will most positively affect your

bottom line and turn your transaction into a masterpiece.

+1.303.444.6766 • www. jetsales.comSuccessfully Closing the Gap Between Buyer and Seller Since 1974

Global Aircraft Brokerage, Acquisitions and Consulting Firm

J.Mesinger August 23/07/2012 12:43 Page 1

For full specifications and

for more information, visit

JETSALES.COM

Read our industry blog at jetsales.com/blog.

Follow us on twitter for the latest news: @jmesinger

Watch airplane videos at jetsales.com/inventory

800.671.6766 / p: + 1 303.444.6766 / f: + 1 303.444.6866 / [email protected]

ASKING: $8,450,000 | 5788 Hrs TTAF, 2890 Landings, CSP

1997 FALCON 2000 S/N 48

HUD • Triple FMS • FDR • Great paint and interior • 10 pax

TEXT JM48 TO 727-399-6059 FOR MORE INFORMATION

UNDER CONTRACT

6924 Hrs TTAF, 4417 Landings, RRCC

Document 11 complied with 9/11/11 • Aileron re-gearing modification c/w


1999 CITATION X S/N 93

ASKING: $7,500,000 | 5846 Hrs TTAF, 2359 Landings

1995 CHALLENGER 604 S/N 5302

Major inspections including the 6/12/24/48/96/192 and 240 month c/w 11/11



1989 CHALLENGER 601-3A S/N 5050

Mode S XPNDR w/enhanced flight ID • WSI Weather • Triple laserefs


WANTED – 3 IMMEDIATE ACQUISITIONS

• SIGNED EXCLUSIVE ACQUISITION AGREEMENTS

• BUYERS PAY OUR COMMISSION

• NO FINANCING REQUIREMENTS

GULFSTREAM G5502008 OR NEWER, UNDER 1,000 HRS TTAF, FORWARD GALLEY

GULFSTREAM G5502007 OR OLDER, 4,000 HRS TTAF OR LESS, AFT GALLEY

LEAR 45XR2007 OR NEWER, UNDER 2,000 HRS TTAF


2005 GLOBAL 5000 S/N 9158

Placed in service 2006 • Direct TV • Batch 2IAC Upgrade • Extended range


NOW ASKING: $34,900,000 | 3259 Hrs TTAF, 1815 Landings, RRCC

2004 GULFSTREAM G550 S/N 5060

High Speed Data • Aft galley • Fwd and aft lavs • 14 pax


ASKING: $3,095,000 | 7669 Hrs TTAF, 4042 Landings, MSP Gold

1990 FALCON 50 S/N 207

Great paint and interior • Collins 4 tube EFIS • TCAS II change 7


Also available Falcon 50 S/N 83. Details coming soon.

J.Mesinger August 23/07/2012 12:44 Page 2


AgustaWestland announced that thesecond prototype of the AW169 – a newgeneration 4.5 ton light intermediate heli-copter – successfully completed its maidenflight at Cascina Costa in Italy. Meanwhilethe first AW169 prototype premiered at therecent Farnborough International Air Show.The AW169 program is on schedule toachieve civil certification in 2014./ More from www.agustawestland.com

Aircraft Cost Calculator, creators ofan aircraft Web Application that determinesbusiness aircraft operating costs, an-nounced the formation of the ACC AdvisoryBoard recently. “We formed this AdvisoryBoard to further strengthen our Web Appli-cation for our clients,” outlined Chris Doerr,President of ACC.

The four new Advisory Board Membersinclude: Rene Banglesdorf, CEO, CharlieBravo Aviation (Austin, TX); Dan Dickinson,Chairman, INAV Group, LLC (Chicago, IL);Emmanuel Dupuy, Managing Director, HeliAsset (Paris, France); and Robert Gort,President, Sterling Aviation (Milwaukee, WI).The ACC Advisory Board’s objective is toprovide strategic advice and presentideas/issues relevant to the operation ofbusiness aircraft./ More from www.aircraftcostcalculator.com

Arinc Direct has released Version 2.3 ofits iPad flight-planning app, a major upgradedesigned to help users eliminate paper fromtheir cockpits, that includes a new note-tak-ing annotation feature on flight plans. Withthe annotation feature, users can add noteson flight plans by clicking on the actionarrow at the bottom of the screen, thenclicking anywhere on the flight plan andadding text.

The notes can be emailed along with theflight plan. Two pilots using the app on theirown iPads can see each other’s notes viaBluetooth communication between theiPads. Shared notes appear in green, whilea user’s own notes are blue./ More from www.arincdirect.com

continued on page 32

Bombardier Aerospacehas announced that con-struction work has begunon its full-scale factory-owned and operatedservice centre for busi-ness aircraft at Singa-pore’s Seletar airport. Thestate-of-the-art servicefacility, which is set toopen in 2Q 2013, features31,500 sq. feet of hangarspace and 28,800 sq. feetfor office and back shops.

Additionally, Bom-bardier has opened itsnewest Regional SupportOffice (RSO) at Farnbor-ough, United Kingdom.The new office, the 10th

Bombardier RSO to openoutside North America inthe past four years, willanchor regional supportcapabilities for the grow-ing number of Bom-bardier business aircraftcustomers in Europe.

While it was at Farn-borough for the recent AirShow, Bombardier alsoconfirmed that it is ontrack with its three newLearjet business aircraftas it shared further de-tails of its ongoing devel-opment programs.

The Learjet 85 aircraftprogram continues toprogress towards first

flight with four test air-craft in various stages offabrication. The recentlylaunched Learjet 70 andLearjet 75 aircraft pro-gram is progressing welland the first two flighttest aircraft, a modifiedLearjet 40XR jet and amodified Learjet 45XRaircraft have alreadylogged more than 135flights, as the two areused to continue to de-velop the avionics thatprovide the core of theLearjet aircraft's VisionFlight Deck./ More information fromwww.bombardier.com

BOMBARDIER EXPANDSSERVICE & SUPPORT......AND REMAINS ON TRACK WITH ITS LEARJET PROGRAMS

NEWS IN BRIEF

Banyan Air Service was issued a FAAsupplemental type certificate for installationof Honeywell’s Aspire 200LG Wi-Fi-enabledsatcom system on the Gulfstream GII/III/IV./ More from www.banyanair.com

Cessna and Avic are aiming to deliverthe first Citation Sovereign from theirplanned Chengdu, China assembly linewithin 18 months. The plant will supply air-craft to the Chinese market. The CessnaLatitude, although not yet certified, is alsoearmarked for assembly at Chengdu./ More from www.cessna.com

Conklin & de Decker announced therelease of its 2012/2013 AircraftPerformance Comparator.

Part of a family of innovative softwareproducts created by Conklin & de Decker,the Aircraft Performance Comparator is amust-have tool for anyone that is acquiringa Business Jet, Turboprop, Piston airplane,or Helicopter (Piston and Turbine) and whoneeds to compare aircraft performancedata quickly and easily.

/ More from www.conklindd.com

BizAv Round-Up 08.12

BusAviationNewsNew 2_Layout 1 24/07/2012 12:44 Page 1

Year Model Serial No.1988 Astra 1125 012

1983 Challenger 601-1A 3010

1995 Citation Jet 525-0122



2008 Citation CJ3 525B-0263

1994 Citation V 560-0252

2005 Citation Sovereign 680-0015

1995 Falcon 900B 153

2003 Global Express 9085

2001 Gulfstream G200 015

1987 Gulfstream GIV 1006

1988 Gulfstream GIV 1057

2000 Gulfstream GIV/SP 1433

2004 Hawker 400XP RK-370

1997 Hawker 800XP 258313

1999 King Air 350 FL-226

2006 Lancair LIV 566

1998 Learjet 31A 143

1981 Learjet 35A 392

1999 Learjet 45 052

1996 Learjet 60 085

2002 Learjet 60 244

2007 Learjet 60XR 320

2002 Piaggio Avanti P180 1050

1996 Pilatus PC-12/45 156

1994 Sikorsky S-76B 760416

EXCLUSIVELY OFFERED

LOS ANGELES562.989.8800

DALLAS214.451.6953

PALM BEACH561.747.2223

SAVANNAH912.330.8797

Jeteffect Inventory August 23/07/2012 12:45 Page 1

O'Gara August 23/07/2012 12:52 Page 1

O'Gara August 23/07/2012 12:52 Page 2

Aircraft Sales & Acquisitions

Main OfficeSouth Carolina (CAE)803.822.4114e-mail: [email protected]

Bell Aviation WestColorado (GJT)

970.243.9192 / 970.260.4667 cell

Bell Aviation TexasDallas, Texas

214.904.9800 / 214.952.1050 cell

1996 Citation Ultra | 560-0366

For Full Specs & Additional Photos on Exclusive Listings by Bell Aviation, please Visit our Website at www.BellAviation.com

2002 Citation Excel | 560-5288

Citation ExcelCitation Excel

ChallengerChallenger

Citation UltraCitation Ultra

1994 Citation II | 550-0732

1982 Citation ISP | 501-0255

Citation 1SPCitation 1SP

2007 Citation CJ2+ | 525A-0345

Citation JetCitation Jet

Citation 11Citation 11

1985 Challenger 601-1A | 3044

1985 Citation SII | S550-0041

Citation S11Citation S112009 Citation XLS+ | 560-5060

Citation XLS+Citation XLS+2011 Falcon 7X | 111

FalconFalcon

1979 Citation II | 550-0047

Citation 11Citation 11

Aircraft Sales & Acquisitions

Main OfficeSouth Carolina (CAE)803.822.4114e-mail: [email protected]

Bell Aviation WestColorado (GJT)

970.243.9192 / 970.260.4667 cell

Bell Aviation TexasDallas, Texas

214.904.9800 / 214.952.1050 cell

For Full Specs & Additional Photos on Exclusive Listings by Bell Aviation, please Visit our Website at www.BellAviation.com

1976 King Air 200 | BB-169

King Air 200King Air 200

King Air B200King Air B200

1983 King Air B200 | BB-1140

1980 Conquest II | 441-0116

ConquestConquest MeridianMeridian

2008 Piper Meridian | 4697324

BeechjetBeechjet

1995 Beechjet 400A | RK-107

1979 King Air 200 | BB-545

King Air 200King Air 200

Learjet 45Learjet 45

2004 Learjet 45 | 45-2501981 Citation ISP | 501-0229

Citation 1SPCitation 1SP

Learjet 31ALearjet 31A

1993 Learjet 31A | 31A-086BeechjetBeechjet

1992 Beechjet 400A | RK-36

from cathode ray tube to liquid crystal. Gulf-stream’s six-panel display configurationremains the same./ More from www.gulfstream.com

Jetex Fueling Services has made op-erators from Austria, Czech Republic, Fin-land, France, Germany, Ireland, Poland andSwitzerland that are receiving fuel upliftsfrom Jetex Fueling Services Limited eligiblefor the Jetex Fueling Services Limited VATexemption program. More countries will beadded for eligibility in due course./ More from www.jetex.com

NetJets signed a 15-year OnPoint solutionagreement with GE Aviation for the mainte-nance, repair and overhaul of its upcomingCF34-powered Bombardier Challenger 605fleet, which was part of the fractionalprovider’s recent $9.6 billion aircraft order./ More from www.netjets.com

Satcom Direct opened a new domesticoffice at the Sheltair FBO atSavannah/Hilton Head International Airport.

The company’s new Savannah office in-cludes a business office and a satellitetesting and integration lab./ More from www.satcomdirect.com

TrueNorth Avionics has introduced thenew Stylus multilingual handset. A memberof the Simphonē OpenCabin family of prod-ucts, Stylus is Busi-ness Aviation’s firstmultilingual handset,and incorporatesTrueNorth’s intuitive,one-button interface.The handset is offeredin wired and wirelessconfigurations, pro-vides high definitionsound for near broad-cast-quality voice com-munications, and canbe programmed to op-erate in any language, including those withdedicated character sets such as Chinese,Japanese, Arabic and Russian./ More from www.truenorthavionics.com


Dassault Falcon’s 200th Falcon 7Xhas rolled off the production line at the Bor-deaux-Merignac production facility in south-ern France. While most 7Xs are outfitted atthe company’s Little Rock facility, this onewill be completed in Bordeaux. To date,Dassault Falcon has delivered more than150 completed Falcon 7Xs, while another80 are in various stages of production oroutfitting. The Falcon 7X fleet has loggedmore than 130,000 flight hours since thefirst aircraft went into service in 2007 and isin operation in 32 countries around theworld.

Dassault also launched a new, multi-platform global website that allows visitorsquick access to information on Falcons andproduct enhancements, and customer serv-ice capabilities./ More from www.dassaultfalcon.com

Duncan Aviation opened a new $11.5million, 45,000-sq-ft aircraft paint shop forbusiness at its Lincoln, Nebraska, facility. Itcan support aircraft as large as the Gulf-stream G650, Bombardier Global Express,Dassault Falcon 7X and Embraer Legacy650./ More from www.duncanaviation.com

ExecuJet Aviation Group andAngkasa Pura 1 announced recentlythat they have signed a Memorandum ofCooperation to design, construct and man-age General Aviation Terminals at as manyas 13 of the Indonesian Airports under themanagement of Angkasa Pura 1./ More from www.execujet.net

Grossmann Jet Service and its CEODagmar Grossmann celebrated some re-cent milestones in Business Aviation. Dag-mar, an Austrian national is marking 30successful yearsin aviation with thepublication of herthird book ‘GroupDynamics and theOrientation of aNewly FormedFoundation’, andthe third anniver-sary of CEPA(Central EuropeanPrivate AviationAssociation)./ More from www.grossmannjet.com

Gulfstream received approval from theFAA and European Aviation Safety Agency(EASA) recently to retrofit Gulfstream GV,GIV, GIV-SP, G400 and G300 aircraft withthe PlaneDeck cockpit upgrade. The op-tional upgrade, an exclusive for Gulfstreamoperators, converts the primary flight display


▼

Embraer has been pre-sented by the FederalAviation Administration(FAA) a Production Cer-tificate to assemble Phe-nom 100s in the UnitedStates. Previously, Phe-nom jets assembled inMelbourne, Florida have

been certified under theFAA type certificategranted to those pro-duced in Brazil.

Meanwhile, TransportCanada Civil Aviation(TCCA) has granted atype certificate to Em-braer for its Phenom 300

light jet. The Phenom300, which received itsinitial certification by U.S.and Brazilian aviation au-thorities in 2009, is nowcertificated in more than40 countries./ More information from www.embraerexecutivejets.com

PHENOM PROGRESS INN. AMERICAFAA AWARD FOR PHENOM 100, TCCA AWARD FOR PHENOM 300

DAGMAR GROSSMANN

BizAv Round-Up 2


Acquisitions * Appraisals * Consulting * Remarketing

+1 (202) 682-4000

[email protected]

Www.bristolassociates.com

Challenger 605 sn 5711

Gulfstream V sn 627

ERJ 135 and 145sAvailable

Gulfstream IV sn 1124

New to Market!Boeing BBJ sn 30496

Bristol Associates April 23/07/2012 14:28 Page 1

Project1 30/07/2012 14:48 Page 1

Project1 30/07/2012 14:49 Page 1

Also Available Beechcraft Premier I, S/N RB-48Citation Sovereign, S/N 680-0216Citation V, S/N 560-0059Citation Bravo, S/N 550B-0871Citation II/SP, S/N 551-0039Citation II, S/N 550-0326

Citation II, S/N 550-0216Citation II, S/N 550-0127Citation II, S/N 550-0094Citation II, S/N 550-0082Citation CJ2, S/N 525A-0016Falcon 20C-5BR, S/N 142Learjet 35A, S/N 138Sabreliner 65, S/N 465-67

King Air 200, S/N BB-48King Air F90, S/N LA-45Socata TBM850, S/N 440Socata TBM700C1, S/N 244Socata TBM700B, S/N 232Socata TBM700B, S/N 193Aerostar Superstar 700, S/N 601P-472-188

1989 Falcon 900B, S/N 071, 9464 TT, MSP Gold, 4C c/w Nov 11 byDuncan, 12 pax Interior, Triple IRS’,

Asking $8,695,000.00

2008 Gulfstream G200, S/N 213, 619 TT, SATCOM, Recent 3C Check,Honeywell FDR, Ext Lav Service,

Asking $11,500,000.00

1992 Falcon 50, S/N 227, 7072.6 TT, Engines on MSP, C Check c/w 9/10,Gear O/Hed 12/03, Aft Lav, TCAS 2, Nice Paint and Interior,

Asking $3,200,000.00

1980 Falcon 50, S/N 010, 7977 TT, JSSI, Collins FDS-2000 EFIS, TCASII, Dual UNS-1F w/ WAAS, C&CPCP c/w 3/09, Gear O/H in 2/12,

Asking $2,200,000.00

1983 Challenger 601-1A, S/N 3013, 11,579 TT, Engines on GE On-Point,Landing Gear O/Hed 3/12, 60 M/CPCP c/w 11/11, APU on MSP,

Asking $2,795,000.00

2010 King Air 350i, S/N FL-689, 450 TT, Venue Cabin Mgmt – AircellAxxess II, TCAS 2, Hi-def Video Displays, L3 ESIS,

Asking $6,350,000.00

2008 King Air C90GTi, S/N LJ-1902, 1356 TT, Pro-line 21 w/ IFIS, OneOwner, Engine Fire Ext., Skywatch,

Asking $2,500,000.00

1977 King Air 200XPR Blackhawk, S/N BB-226, 7678 TT, 1193 TSNon -61 Engines!, Dual Garmin 430W, , Skywatch, Raisbeck PerformanceMods, Asking $1,595,000.00

JetBrokers August 23/07/2012 14:36 Page 1

Email: [email protected] Web: www.jetbrokers.com

CHICAGO+1-630-377-6900 Phone

FARNBOROUGH+44 (0)1252 52 62 72 Phone

AUSTIN+1-512-530-6900 Phone

DETROIT+1-248-666-9800 Phone

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

1982 Citation Stallion, S/N 501-0317, 3494 TT, 502 TSN on Williams-2A engines, Avidyne EX5000 MFD, Dual GNS-430’s, Meggitt EngineInst., Asking $2,150,000.00

1988 Beechjet 400, S/N RJ-47, 4128 TT, 515 SMOH by Dallas Airmo-tive, UNS-1K, TR’s, Freon, HBC Maintained,

Asking $875,000.00

1988 Citation III, S/N 650-0164, 10552 TT, MSP Gold, PATS In-flightAPU, KMD-850 MFD, Dual GNS-XLS, Doc 8 c/w 12/10,

Asking $995,000.00

1977 Hawker 700A, S/N 257010, 8612 TT, MSP Gold, TCAS I, RVSM,48 Month c/w 12/09, Gear O/Hed 8/08, New Interior 2010,

Asking $899,000.00

1999 Citation Bravo, S/N 550B-0891, 5452 TT, On Power AdvantagePlus and Pro Parts, Freon Air, Phase 5 c/w 5/10, Belted Potty,

Asking $1,850,000.00

2001 Hawker 800XP, S/N 258503, 3159.7 TT, Engines/APU on MSP,TCAS II, TAWS-A, Dual NZ-2000’s, L/R Oxygen, Honeywell EFIS,

Asking $2.995,000.00

2005 Hawker 400XP, S/N RK-411, 615 TT, Garmin GMX-200 MFD,XM Weather, Sat Phone, Like New, Airshow, Freon, One Owner,

Asking $2,795,000.00

2004 Hawker 800XP, S/N 258674, 3052 TT, MSP Gold, Support Plus,Delivered with Fresh G Check, JAR Ops, TCAS II, CAMP, 8 pax inte-rior, Asking $4,495,000.00

JetBrokers August 23/07/2012 14:36 Page 2

LABACEAug 15 – 17Sao Paulo, Brazil/ www.abag.org.br

CIBAS (BEIJING INT’L BUSINESSAVIATION SHOW)Sept 4 – 7Beijing, China/ www.cibas-beijing.com

ILA BERLIN AIRSHOWSept 11 – 16Berlin, Germany/ www.ila-berlin.de

BUSINESS AIRCRAFT EUROPE (BAE)Sept 12 – 13 London Biggin Hill Airport, UK/ www.miuevents.com

BUSINESS & GENERAL AVIATION DAY (BGAD)Sept 18 Cambridge, UK/ www.bgad.aero

NBAA: REGIONAL FORUMSept 20Seatlle, WA, USA/ www.nbaa.org

AIRCRAFT INTERIORS EXPOSept 25 – 27 Seattle, WA, USA`/ www.reedexpo.co.uk

INTERNATIONAL AIRPORT EXPOSept 25 – 27Las Vegas, NV, USA/ www.iaema.org

INTER AIRPORT CHINASept 26 – 28Beijing, China/ www.interairportchina.com

JETEXPOSept 27 – 29Moscow, Russia/ www.jetexpo.ru

SAFETY STANDDOWN-USA Oct 8 - 11 Wichita, Kansas, USA/ www.safetystanddown.com

AOPA AVIATION SUMMITOct 11 – 13Palm Springs, CA, USA/ www.aopa.org

If you would like your event included in our calendar email: [email protected]


MIKE CLARKERIZON JET

FERNANDO LACERDA DA SILVABOMBARDIER

PEDRO MERCADOGULFSTREAM

JOHN HINTONAIRCELL

Jay Beever – has been named vicepresident, Interior Design at Melbourne,FL- based Embraer Executive Jets.

Mike Clarke - Qatar-based privateaviation services provider Rizon Jetannounced the appointment of MikeClarke as director of Technical Services,based in Doha.

John Hinton - has been appointed tothe position of regional sales manager atAircell. In this role, he is responsible forassisting business aircraft operators andaftermarket installation facilities with theirin-flight connectivity needs in the NorthEastern United States.

Fernando Lacerda Da Silva - Bombardier has named FernandoLacerda Da Silva as sales director of newaircraft for Brazil. Lacerda joinsBombardier with 25 years of previousaircraft sales experience, nearly half ofwhich was in Latin America.

Pedro Mercado - Gulfstream recentlynamed Pedro Mercado a national salesmanager for Product Support InteriorRefurbishment Sales. Mercado’s terri-tory is the Eastern Seaboard of theUnited States, from South Carolina toMaine. He reports to Matthew Duntz,director, Product Support InteriorRefurbishment Sales.

Christian Olivier - Esterline CMCElectronics appointed Olivier as vicepresident, operations. He will be respon-sible for operations, supply chain man-agement, master planning, facilitiesmanagement and IT across all three ofthe company’s facilities.

Joseph Rivera - Gulfstream has ap-pointed aviation industry veteran JosephRivera as director of International Opera-tions. He reports to Barry Russell, vicepresident, Customer Support. In this newposition, which is based in Savannah,Rivera is responsible for oversight ofGulfstream’s three international servicecenters in Beijing; Luton, England andSorocaba, Brazil.

Sir Ralph Robins – Gama, the globalBusiness Aviation and services group, re-cently announced the appointment of SirRalph Robins as non-executive chairman.Sir Ralph’s many achievements during histenure as chief executive officer and lat-terly executive chairman of Rolls-Royceare well documented.

Bill Schultz - Cessna has appointed BillSchultz as its new senior vice president ofbusiness development for China. In his newposition he will report directly to Cessnapresident and CEO Scott Ernest and be re-sponsible for leading the aircraft manufac-turer’s recently announced joint venturewith Avic in Chengdu, China. TerryClark, Cessna’s general manager at itsIndependence, Kan. facility, will take overfrom Schultz as president of CitationAir.

Fabio Sciacca – has joined Flight-Safety International as director of sales forEurope, the Middle East and Africa. Sciaccawill lead the sales team who serves andsupports FlightSafety’s Business AviationCustomers in this area of the world. Hejoins FlightSafety from Piaggio AeroIndustries.

Velma Wallace - an important figure inCessna Aircraft Company's success andgeneral aviation history, died last month.She was 95. Wallace was an early Wichita,Kansas, aviation pioneer. She, along withher late husband, Dwane, who died in1989, helped build Cessna Aircraft Com-pany. Wallace was also a philanthropist ofmany organizations.

JOSEPH RIVERAGULFSTREAM

SIR RALPH ROBINSGAMA

BizAv Round-Up 3

BizAv Events



Bombardier ViewBombardier is confident in the strong, long-term potential of the business aircraft indus-try and forecasts a total of 24,000 businessjet deliveries from 2012 to 2031 in all seg-ments in which Bombardier competes,which represents approximately $648 billionUS in industry revenues. The BombardierBusiness Aircraft Market Forecast antici-pates 9,800 aircraft deliveries, worth $266billion US, from 2012 to 2021 and 14,200deliveries, worth $382 billion US, from 2022to 2031.

Deliveries are expected to lag order in-take as manufacturers strive to maintain ac-ceptable backlog levels, and business jetindustry deliveries for 2012 are expected tobe comparable to 2011. Bombardier be-lieves business jet industry deliveries will re-turn to sustained growth starting in 2013,with the Large aircraft category demonstrat-ing the fastest growth.

Over the forecast period, Bombardierpredicts that North America will receive thegreatest number of new business jet deliv-eries between 2012 and 2031 with 9,500aircraft, followed by Europe, with 3,920 air-craft. Notably, China will become the thirdlargest market for business jet deliveries,with 2,420 deliveries from 2012 to 2031. / More from www.bombardier.com

Brifo ViewSince 2008 the General Aviation industryhas been reeling from a downturn thatseems to be lasting an eternity. So what’sreally going on? "That's probably the mostimportant single question we're being askedthese days," notes industry advisor BrianFoley.

"We sympathize with those who worrybecause this has indeed been an epic cor-rection. But historically, the General Aviationindustry has averaged five-year cycles,which would normally suggest another yearof weakness, more or less. That's not ex-actly a predictor because these averages, bynature, are highly governed by extremes.This recession is concerning, because it isboth deep and prolonged, affecting certaincompanies and sectors more than others."

As an example, Foley cites the fact thatlarge-cabin business jets have been rela-tively unscathed, but other segments are stilla long way from recovery. The high-profilebankruptcy of Hawker Beechcraft, one ofthe ‘Big Six’ manufacturers competingmainly in small and midsize jets, has causedconcern throughout the industry. “Surely the ▼

Argus ViewAs the summer heatsup, ARGUS TRAQPakflight activity for Junesees a cool down.TRAQPak data showsthat June 2012 businessaircraft flight activity de-creased 3.2% from May2012. The results by op-erational category wereall down from the previ-ous month with Part 91activity recording thelargest month-over-month decline, down3.7%. Part 135 and frac-tional flight activity weredown 3.4% and 1.2%respectively.

Aircraft category re-sults were also negativefor the time period led

by mid-size cabin jets,down 5.0%. Looking atindividual market seg-ments, the month wasnot all negative withlarge-cabin fractionalactivity posting a 3.3%month-over-monthincrease.

Reviewing year-over-year activity (June 2012vs June 2011) TRAQPakdata shows a 1.3% de-crease in business air-craft flights. Results byoperational categorywere mainly negativewith the exception ofPart 91 flight activity,which finished themonth up 0.3%. The Part135 market posted a

slight decrease, down1.4%, while fractionalactivity saw a decreaseof 6.7%.

Reviewing activity byaircraft category the tur-boprop market saw aslight year-over-year in-crease, up 0.6%. Smallcabin jets fell into nega-tive territory, down 1.1%,followed by large cabinand mid-size cabin,which were down 1.6%and 3.5% respectively.Looking at individualmarket segments thefractional large cabinsector posted a 5.8%increase year-over-year./ More fromwww.aviationresearch.com

Market Indicators

Business Aircraft ActivityJune 2012 vs. May 2012

-2.9%

-4.6%

-5.4%

-1.2%

-3.7%

0.5%

-4.8%

-6.8%

-5.5%

-3.4%

0.6%

-1.0%

-2.6%

3.3%

-1.2%

-1.6%

-4.4%

-5.0%

-1.8%

-3.2%

Part 91 Part 135 Fractional All

Turbo Prop

Small Cabin Jet

Mid-Size Cabin Jet

Large Cabin Jet

All Aircraft Combined

Source: TRAQPak © 2012 ARGUS International, Inc +1 513.852.1010

Business Aircraft ActivityJune 2012 vs. June 2011

-0.3%

1.5%

1.9%

-2.7%

0.3%

3.0%

-1.6%

-7.0%

-2.2%

-1.4%

-2.1%

-13.5%

-8.1%

5.8%

-6.7%

0.6%

-1.1%

-3.5%

-1.6%

-1.3%

Part 91 Part 135 Fractional All

Turbo Prop

Small Cabin Jet

Mid-Size Cabin Jet

Large Cabin Jet

All Aircraft Combined

Source: TRAQPak © 2012 ARGUS International, Inc +1 513.852.1010

TRAQPak

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JETNET has released its May 2012 andYTD 2012 results for the pre-ownedbusiness jet, business turboprop andhelicopter markets. Highlighted in theTable below are key worldwide trendsacross all aircraft market segmentscomparing May 2012 to May 2011. TheFleet for Sale percentages for all marketsectors were down in the May compar-isons.

Business jet sale transactions wasthe only market segment to show an in-crease (5.0%) YTD in May 2012 com-pared to 2011, and business jets areselling in less time (45 fewer days) onthe market. However, business turbo-prop, turbine and piston helicopters sawdeclines in sale transactions YTD at-2.4%, -14.6% and -13.8%, respectively.

The turbine helicopter market wasthe only segment to show an increase(9.7%) in average asking price in the

YTD results, while the percentagechange in sale transactions declined by14.6%.

Real gross domestic product (GDP)—the output of goods and services pro-duced by labor and property located inthe United States—increased at an an-nual rate of 1.9% in the first quarter of2012 (that is, from the fourth quarter of2011 to the first quarter of 2012), ac-cording to the "third" estimate releasedby the Bureau of Economic Analysis(BEA).

There is a slight upward trend in thebusiness jet market as a strong monthof June and 2nd quarter ending resultsare anticipated. This optimism may bethe result of lower fuel pricing, as it wasinching up to another record fuel pricelevel before turning downward./ More from www.jetnet.com

Market Indicators 2 industry must have other name-brandproviders in similar difficulties that we don'tknow about, because they're not subject tothe same reporting obligations,” Foleypondered.

Some hail the recent business jet recordbreaking fleet orders from fractionalprovider NetJets, a Berkshire Hathawaycompany, as a sign that the market has fi-nally returned, but Foley is more cautious.“These deliveries are spaced out over thenext decade so there’s no quick benefit, andthey're principally intended to replace (asopposed to grow) existing fleet aircraft aver-aging some seven years in age. There’s per-haps a little bit of gaming going on here aswell, with NetJets’ ability strike a better bar-gain in low-market conditions and to havethese new jets on line when the economypicks up (while still being able to deferand/or cancel orders if it does not).”

Foley believes that, for most General Avi-ation companies, the safest mindset is toview the current situation as the "new nor-mal" and adapt accordingly. “The pessimistin me says we'll be in something of asteady-state situation for the foreseeablefuture, with occasional setbacks balancedout by spots of growth…The optimist in mesays that companies geared to live throughthese hard times will invariably have theedge when this recession’s over. Generallyspeaking, they’re the ones who can spot awelcome uptick as a gift (rather than agiven) and profit from it.”/ More from www.BRiFO.com

EBAA ViewThe European Business Aviation Associa-tion reports that although the decrease intraffic continued in June (-3.4%), it markedan improvement on May. Generally speaking,however, Business Aviation activity is con-tracting across the entire continent althoughthe reduction is more pronounced in West-ern Europe than in the Eastern countries.The traditionally best months of the year interms of traffic volume (around summer)don't seem to be able to curb the overallnegative impact of the general economy'scurrent weakness./ More from www.ebaa.org

JETNET View

WORLDWIDE TRENDS Business Aircraft Helicopters

MAY

2,540

13.7%

14.1%

(-0.4)pt

901

348

$4.122

5.0%

-45

-2.0%

1,234

9.1%

10.3%

(-1.2)pt

540

343

$1.245

-2.4%

31

-1.6%

1,147

6.2%

6.7%

(-0.5)pt

493

398

$1.429

-14.6%

-16

9.7%

549

5.9%

6.8%

(-0.9)pt

376

395

$0.217

-13.8%

83

-5.7%

Jets Turbos Turbine Piston

For Sale

Fleet % For Sale 2012

Fleet % For Sale 2011

% Change For Sale

January to May 2012

Full Sale Transactions

Avg. Days on Market

Avg. Asking Price - $USD M

YTD January to May 2012 vs 2011

Change - Transactions

Change - Days on Market

Change - Asking Price


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n this month’s AircraftComparative Analysis, informa-tion is provided on a selection ofpre-owned turboprop aircraft inthe $0.5m-1.0m price range for

the purpose of valuing the pre-ownedCheyenne II aircraft.

We’ll consider the usual productivity param-eters - specifically, payload and range, speedand cabin size - and we will consider currentand future market values. The turboprops thatalso feature in this month’s ComparativeAnalysis are the Twin Commander 980 andMitsubishi Mu-2 Solitaire.

BRIEF HISTORY The Cheyenne series of turboprop aircraftwere manufactured by Piper AircraftCompany. There have been 1,014Cheyenne-series airplanes built since firstflight in May 1979, and 787 are still inoperation today (according to JETNETrecords).

The most popular Cheyenne turbopropaircraft built was the Cheyenne II, of which525 were built from 1974 to 1983. 355 arestill in operation today.

The Cheyenne II is regarded as anentry-level turboprop that can seat up to

eight passengers. It shares its fuselage andwing with the Cheyenne I and IA models.However, it differs with its more powerfulPT6A-28 engines and its inclusion of stan-dard tip tanks. The Cheyenne IIXL wasproduced from 1981 to 1984.

The Cheyenne III was the first of thelarge Cheyenne models, and it is about 6 to8 feet longer and 1,700-2,500 lbs. heavierthan the Cheyenne I, II and IIXL models. Itis also substantially faster and has superiorrange as compared to these earlier models.The Cheyenne III and IIIA models wereproduced from 1980 until 1993.

by Michael Chase


❯

I

Piper Cheyenne II

MITSUBISHI MU-2 SOLITAIRE

AIRCRAFT COMPARATIVE ANALYSISCHEYENNE II

HAWKER

TWIN COMMANDER 980

PIPER CHEYENNE II

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PAYLOAD AND RANGEThe data contained in Table A (left) is pub-lished in Business & Commercial Aviation’sMay 2012 issue, and is also sourced fromConklin & de Decker. A potential operatorshould focus on payload capability as a keyfactor. The Cheyenne II ‘Available payloadwith Maximum Fuel’ at 898 pounds is morethan double that offered by the Solitaire,while the Twin Commander 980 has a nega-tive available payload with maximum fuel.

CABIN VOLUMEAccording to Conklin & de Decker, thecabin volume of the Cheyenne II (151 cubicfeet) is larger than the Solitaire, but smallerthan the Twin Commander 980, as shown inChart A (left).

POWERPLANT DETAILSAs noted above, the Cheyenne has two Pratt& Whitney PT6A-28 engines rated at 620Shaft Horse Power (SHP). By comparison, theTwin Commander 980 and Solitaire both havea pair of Honeywell TPE 331-10 powerplants,rated at 733 SHP and 727 SHP, respectively.

Table B (left), sourced from Aircraft CostCalculator (ACC) shows the hourly fuelusage of each aircraft model in this field ofstudy. The Cheyenne II (104 gallons per hour(GPH)) uses 13% more fuel than either theTwin Commander 980 or the MU-2 Solitaire(both consume 92 gallons of fuel per hour).

Using data published in the May 2012B&CA Planning and Purchasing Handbookand the August 2011 B&CA OperationsPlanning Guide we will compare our aircraft.The nationwide average Jet A fuel cost usedfrom the August 2011 edition was $6.04 pergallon, so for the sake of comparison we’llchart the numbers as published.

Note: Fuel price used from this sourcedoes not represent an average price for theyear.

COST PER MILE COMPARISONSChart B (left) details ‘Cost per Mile’ and com-pares the Cheyenne II to its competition fac-toring direct costs and with all aircraft flyinga 600nm mission with an 800 pound (fourpassengers) payload. The Cheyenne II has ahigher cost per mile at $3.92 per nautical mile,which is more expensive to operate by 9.4%than the Twin Commander, and 19.1% thanthe Solitaire.

TOTAL VARIABLE COSTCOMPARISONS‘Total Variable Cost’ illustrated in Chart C(top right) is defined as the cost of FuelExpense, Maintenance Labor Expense,Scheduled Parts Expense and Miscellaneous

Twin Commander 980

Model MTOW(lb)

Max Fuel(lb)

Max Payload

(lb)

Avail Payload

w/Max Fuel(lb)

Max Fuel

Range(nm)

9,000

10,325

10,470

Cheyenne II 2,452

3,176

2,700

1,500

1,495

2,300

898

-106

420

1,160

1,370

1,220

1,320

1,052

1,092

Max P/Lw/avail fuel

Range(nm) VFR

Data courtesy of Conklin & de Decker, Orleans, MA, USA; JETNET: B&CA May 2012 and Aug. 2011 Operations Planning Guide

Mu-2 Solitaire

TABLE A - PAYLOAD & RANGE

Twin Commander 980

Model Fuel Usage (GPH)

Cheyenne II 104

92

92

Source ACC - www.aircraftcostcalculator.com

Mu-2 Solitaire


CHART A - CABIN VOLUME

Cubic Feet

50 0

Cheyenne II 151

165

Mu-2 Solitaire

100 150 200 250

120

Twin Commander 980

CHART B - COST PER MILE *

*600nm, 800lbs PAYLOAD MISSION COSTS

US $ per nautical mile

$2.00 $4.00 $0.00

Twin Commander 980

$3.29

$6.00

$3.92

Mu-2 Solitaire

$3.58

Cheyenne II

TABLE B - FUEL USAGE



❯


trip expense. The total variable cost for theCheyenne II at $887 per hour, and is lessexpensive to operate by 6.1% than theSolitaire, and 6.8% than the Twin Commander980.

PRODUCTIVITY COMPARISONSThe points in Chart D (middle, right) centeron the same group of aircraft. Pricing used inthe vertical axis is as published in Vref. Theproductivity index requires further discussionin that the factors used can be somewhat arbi-trary. Productivity can be defined (and it ishere) as the multiple of three factors.

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 passengersand amenities.

The result is a very large number so for thepurpose of charting, each result is divided byone billion. The examples plotted are confinedto the aircraft in this study. A computed curvefit on this plot would not be very tight, butwhen all aircraft are considered the “r”squared factor would equal a number above0.9. Others may choose different parameters,but serious business aircraft buyers are usual-ly impressed with Price, Range, Speed andCabin Size.

After consideration of the Price, Range,Speed and Cabin Size we can conclude thatthe Cheyenne II has greater payload capabili-ty, offers greater range, and has a lower vari-able cost per hour. However, it operates at aslower speed, costs considerably more tooperate per mile and its fuel burn is greaterthan the competition.

Table C (right) contains the retail pricesfrom the latest Vref edition for each aircraft.The prices shown are for the last year of man-ufacture. The number of aircraft in-operation,percentage ‘For Sale’ and the number ‘Sold’over the past 12 months are from JETNET. Asshown, the Cheyenne II has 12.7 percent ofthe in-operation fleet ‘For Sale’. Over the past12 months the Cheyenne II is showing anaverage of three sold per month. This salesactivity highlights many opportunities for thedealer/broker specializing in the Cheyenne II.

BY CONTINENTThe majority of the wholly-owned CheyenneII aircraft in operation (347) are located inNorth America (56%), followed by SouthAmerica (26%) and Europe (13%) for a com-bined 95% of the fleet (see Chart E (right)). Inaddition to the 347 airplanes recorded inChart E, however, there are eight further

US $ per hour

$1,000 $0

Twin Commander 980

$945Mu-2 Solitaire

$500 $1,500

$887

$952

Cheyenne II

TABLE C - COMPARISON TABLE

Model

LongRangeCruiseSpeed

CabinVolume(Cu Ft)

Max P/Lw/avail

Fuel Range VFR (nm)

%For Sale

In -Operation

Cheyenne II

Twin Commander 980

Mu-2 Solitaire

192

230

270

Vref RetailPrice $m

151

165

120

1,320

1,052

1,092

$730k (1984)

$1M (1981)

$540k (1981)

355

71

42

12.7%

1.4%

16.7%

Data courtesy of Conklin & de Decker; JETNET; B&CA May 2012 and Aug. 2011 Operations Planning Guide

Averagesold permonth

(past 12months)

3

<1

<1

CHART E - CHEYENNE II IN-OPERATION BY CONTINENT

CHART C - VARIABLE COST

Index

Pri

ce

(M

illio

ns)

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

$1.5

$1.0

$0.5

$0.0

0.0000 0.0200 0.0300 0.0400

Cheyenne II

Twin Commander 980

0.0100

Mu-2 Solitaire

0.0500

CHART D - PRODUCTIVITY

North America

56%

Europe13%

Asia 1%

South America

26%

Africa3% Australia 1%

North AmericaSouth AmericaEuropeAfrica

AsiaAustralia

SOURCE: JETNET STAR REPORTS




Cheyenne II aircraft in operation today oper-ated under shared-ownership.

AVERAGE ASKING PRICESTable D offers an eight-year historical per-spective of the Cheyenne II aircraft sales activ-ity trends from June 2004 to June 2012. Thetable is divided between the four years priorto the economic melt-down (2004–2008) andthe four years since (2009-2012).

In reviewing the four years prior to theeconomic downturn and after, there does notappear to be any significant change in thenumber of Cheyenne II for sale, number ofretail sale transactions, average asking prices,or number of days on the market.

Over the past 12 months the Cheyenne IIaircraft has shown an increase in the numberof full retail sales transactions at 26 comparedto 20 last year in spite of an increase in theaverage asking price. However, the length oftime that the Cheyenne II remains on the mar-ket before a sale remains stubbornly high.Nevertheless, it is clear that for those who areselling, and have the patience, the CheyenneII continues to be popular within thepre-owned market today.

SUMMARYWithin the preceding paragraphs we havetouched upon several of the attributes thatbusiness aircraft operators value in an air-plane. There are of course other qualities suchas airport performance, terminal area per-formance, and time to climb performance thatmight factor in a buying decision, however.The Cheyenne II evidently fares well amongits competition, so those operators in this mar-ket should find the preceding comparison of

value. Our expectations are that the CheyenneII will continue to do well in the pre-ownedmarket for the foreseeable future.

❯ For more information: MichaelChase is president of Chase &Associates, and can be contactedat 1628 Snowmass Place,Lewisville, TX 75077; Tel: 214-226-9882; Web: www.mdchase.com

Avg. Asking $Price (000)

Year June2005 62 7/2004 –6/2005 37 244 $591 2006 58 7/2005 –6/2006 46 521 $629 2007 45 7/2006 – 6/2007 37 517 $610 2008 40 7/2007 – 6/2008 42 217 $703 4 yr 51 Average 41 375 $633 2009 53 7/2008 – 6/2009 31 214 $684 2010 55 7/2009 – 6/2010 28 305 $472 2011 57 7/2010 – 6/2011 20 344 $489 2012 45 7/2011 – 6/2012 26 574 $5494 yr 53 Average 26 359 $549

Source: JETNET Evolution program; * DOM = Average Days on the Market

Year

12 Months Full Retail

Sale Transactions

Avg. DOM *

For Sale

TABLE D - CHEYENNE II MARKET STATS

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orporate governance is a challenge. Beingresponsible for the success and reputationof an enterprise, regardless of whether thecorporation is publically owned or private-

ly held, is a heavy load for Directors to shoulder.Especially today when Boards are required to estab-

lish and oversee policies that encompasscomplex disciplines, the task is not

easy. Furthermore, failures in gover-nance are often significant.

As we have read in news cov-erage of dramatic and costly mis-steps in the financial sector, fail-ure to understand sophisticatedinstruments such as derivativesand other exotic investments isno defense for Directors. Norcan a Board’s unfamiliarity

with different elements ofcompany activities negate

the need for compre-

hensive policy and oversight. Short-term benefits,such as substantial profits from questionable trans-actions, also offer no excuse. Neglect and poor judg-ment can (and usually will) result in loss, includingshareholder dollars, company reputation, andemployment of senior executives and BoardMembers.

Because safe operation of business aircraftimpacts the wellbeing of a company’s employeesand associates, failures of governancerelated to BusinessAviation include adimension farbeyond those ofother areas ofBoard responsibility.While blunders infinancial governanceare usually costly,they rarely(if ever)

C

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BG 1 Jack_FinanceSept 24/07/2012 14:10 Page 1

result in loss of life and limb. Serious miscues in theoperation of business aircraft can have catastrophicconsequences, however.

Board policies that fail to address inappropriateor profligate use of business aircraft also hold signif-icance since Business Aviation impacts companyproductivity, which like botched financial policyaffects the ability of a company to produce profitsand remain financially viable.

BUSINESS AVIATION IS SPECIALBusiness aircraft provide capabilities that areunique. When used appropriately, they enable acompany to expand market penetration, use timemore efficiently and leverage the talent of employ-ees. In addition to facilitating greater revenues, noother form of business transportation provides abetter record of safety and security.

Conversely, business aircraft used inappropriate-ly or managed poorly can consume companyresources without generating gains. Not all businesstrips require Business Aviation when other means oftravel, such as frequently scheduled airline flights,are available. Masking a personal trip as business isneither good business nor smart.

More significantly, mismanagement can be dan-gerous. Considering the sophisticated and technicalnature of business aircraft, failure to appreciate theneed for thoughtful policies and procedures canlead to big problems, including tragedy.

In particular, Directors must respect the technicalnature of operating business aircraft safely. Therecan be no compromise or naive amateurism regard-ing maintenance, comprehensive training andrespect for the weather and the challenges of operat-ing miles above the earth’s surface while travelingat hundreds of miles per hour.

Business Aviation is safe and effective becauseskilled pilots and aviation managers are committedto their profession. Good governance requires thatDirectors insist on staffing the company’s aviationdepartment with knowledgeable experts who pos-sess a record of unquestioned integrity and insight-ful management. Good governance also demandsthat Boards pay careful and respectful attention tothe advice offered by their aviation manager.

PROFESSIONALISMBusiness Aviation has grown since companies firstengaged in this form of transportation. Traditionally,flying experience as represented by hours flown andratings earned were the metrics used for hiring andadvancement. Management skills were the productof years spent operating business aircraft. Such anapproach is changing.

Today, there are over 300 two- and four-year col-leges offering degrees in aviation, many with flightcomponents that enable graduates to obtain theircertification as pilots or maintenance technicians.Thus younger aviators are entering the profession ofBusiness Aviation well prepared academically. Thecommunity, however, still demands hands-on expe-rience with business aircraft before an employee isconsidered for management responsibilities such as

chief pilot or Director of Aviation.Thus an aviator pursuing a career in Business

Aviation must find a balance between gaining expe-rience in the cockpit or the maintenance shop andlearning management skills that prepare him or herto lead an aviation department and communicateeffectively with a Board in areas of aviation policy.

Fortunately, the National Business AviationAssociation (NBAA) launched an educational pro-gram in the late 1990s known as the ProfessionalDevelopment Program (PDP), and has perfected thecurriculum in subsequent years to prepare individu-als for career advancement in Business Aviation.Through a combination of seminars and online pro-grams, an individual can expand his or her knowl-edge and skill in the art and science of managementas it applies to Business Aviation.

As a capstone to such education, NBAA createdits Certificated Aviation Manager (CAM) program,which is to Business Aviation what certification is toprofessionals in other fields such as public account-ing and financial planning. Before standing for theCAM examination, applicants must document theircompletion of numerous courses and years of pro-fessional experience. The testing is rigorous, andsuccessful applicants are awarded the CertificatedAviation Manager designation.

Board Members are wise to encourage companyflight personnel to pursue NBAA’s ProfessionalDevelopment Program and to seek CAM designa-tion. Having qualified personnel transporting yourcompany’s most valuable asset—its personnel—isgood governance, as is listening to your aviationprofessionals and soliciting their input in governingyour company’s approach to air transportation.Do you have any questions or opinions on the above topic? Getthem answered/published in World Aircraft Sales Magazine.Email feedback to: [email protected]

www.AvBuyer.com

“Goodgovernance

requires thatDirectors insiston staffing the

company’saviation

departmentwith

knowledgeableexperts...”

What the Boardroom needs to know about Business Aviation

WORLD AIRCRAFT SALES MAGAZINE – August 2012 51Advertising Enquiries see Page 8

BG 1 Jack_FinanceSept 24/07/2012 10:13 Page 2

bout a decade ago, an associate and Iqueried a group of aviation profession-als about their basic approach to manag-ing the company’s business aircraft. One

Aviation Director insisted that he spends a fairamount of his time actively avoiding involvementwith corporate management. “We keep our airportactivities to ourselves,” he proudly asserted. “Thosefolks downtown just don’t understand us, so wekeep to ourselves and just do our jobs—flying air-craft safely and catering to the boss’s needs.”

Another participant in our discussion took theopposite approach. “I work overtime educating themanagers at various levels within the companyabout the value of the company’s aircraft,” he out-lined. “Our aviation department is a business unitwithin the corporation, and as such we are expectedto embrace the same business practices, such asbudgeting, reporting and administering to person-nel issues, as do other business units. I find that thisapproach, which applies to all the company’smanagers, works well.”

Several months following the discussion, myassociate and I learned that one of these AviationDirectors had relocated and the other continued tohold his position within his corporation.

You can guess which person stayed with his

employer and which one moved on.Independence might have been an important—

possibly necessary—attribute for leading a flightdepartment in earlier times, before companies fullyappreciated the value of managing their travelneeds holistically and a company aircraft was theboss’s special carriage. Today’s Aviation Directors,and those who aspire for a role in flight departmentmanagement, are expected to be trained managersas well as competent aviators.

While colleges now offer programs in aviationmanagement and numerous Executive MBA pro-grams exist, professionals engaged in BusinessAviation often have neither the time nor the fundsto return to academe. To address the need for rele-vant education in management, the NationalBusiness Aviation Association offers a comprehen-sive set of courses within its ProfessionalDevelopment Program, better known as PDP.Courses address business and management subjectsthat an aspiring Aviation Director is expected tounderstand as Business Aviation blends into acorporation’s infrastructure.

Board Members should examine hiring policy fortheir company’s flight departments, seeking, wher-ever possible, those personnel with the best balanceof aviation and management skills.

As more corporations are accepting Business Aviation as anormal travel option, aviation professionals have responded byexpanding their management skills and integrating their flightdepartments into the firm’s organizational structure, observesJack Olcott.

A

Managing Business Aviation


Aviators seeking recognition asCertified Aviation Managers,which is designation issued byNBAA, are required to pass anexamination. NBAA’s ProfessionalDevelopment Program is designedto cover subjects tested duringthe CAM examination. NBAA lists191 aviators as Certified AviationManagers.


0

20

40

60

80

100

120

140

160

FY12 FY11 FY10 FY09 FY08 FY07 FY06 FY05 FY04

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CAM Applica�ons

PDP Study Guides

PARTICIPANTS IN NBAA’S PROGRAM OF PROFESSIONAL DEVELOPMENT

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ffective safety metrics describe activitiesand behaviors that create the results youintend. The tools for calculating thatreality are emerging today. They are notbased on rates of historic failure but on

measurable anticipated risks, probabilities and miti-gations. In other words, the metrics of safety areshifting from hindsight to forward looking.

That is the good news. The not-so-good news isthat the development and use of the RiskAssessment Tool (RAT) is in its infancy. Fully devel-oped and implemented, the RAT will be one of themost effective advances in aviation safety to date.

In concept, a RAT is a comprehensive list of riskarenas and their elements. For instance, one majorrisk source is weather. A portion of the RAT assesses

all the weather conditions for a trip leg.Departure airport, route, destination and

alternates are all looked at for conditionsthat create risk, such as icing, high

winds, turbulence, thunderstorms,etc. The aviation department staff

identifies specific risk elements anddetermines whether they should bemitigated.

This assessment is done by ascoring process. When a risk and its

probability are deemed highenough to be mitigated, lower

risk options are considered andselected. For instance, if thun-

derstorms are forecast enroute, is it better to circum-

navigate them or departat a time that precedes

Operating 20,000 hours without an incident and having a zeroaccident rate are not safety metrics. Did you fly accident-freeduring the past 20,000 hours because you were incredibly luckyor because you were doing the right things correctly, questionsPete Agur.

E

King Rat:The Metrics of Business Aviation Safety

�


Peter Agur Jr. is managing direc-tor and founder of The VanAllenGroup, a business aviation con-sutancy with expertise in safety,aircraft acquisitions, and leaderselection and development. Amember of the Flight SafetyFoundation’s Corporate AdvisoryCommittee and the NBAA’sCorporate Aviation ManagersCommittee (emeritus), he is anNBAA Certified AviationManager. Contact him viawww.VanAllen.com.


BG 3 Aug_FinanceSept 24/07/2012 10:54 Page 1

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or follows their development? With the selected mit-igation implemented, the leg is re-scored to confirmthat the resulting plan is acceptable.

In its most basic form, a RAT is a score card thathas five-by-five blocks (as illustrated here). Onescale of reference is event “Probability” rangingfrom ‘Unlikely’ to ‘Certainly’. The other scale isseverity of “Impact” ranging from ‘No Impact’ to‘Catastrophic’. These cards are easy to use as guide-lines for trip planning. Unfortunately, they are inad-equate as effective management tools because theyare neither comprehensive nor sufficiently detailedto provide management information.

There are a number of commercial RATs beingoffered. Some have as few as a couple-dozen datapoints, and others boast hundreds. How good arethey? Our firm recently conducted a Flight RiskAssessment Tool (FRAT) research project. The find-ings were presented at the Flight Safety

Foundation’s Business Aviation Safety Seminar thispast April. Our observation is that the current cropof FRATs is better than nothing, but are not nearlyas good as they will be in an iteration or two.* Fromyour perspective, there are several things you needto consider in the selection and use of a RAT:

DEPTH AND BREADTHMost RATs include a number of basic data pointsthat are relatively easy to acquire. Aircraft perform-ance, weather, airport information, etc., are routinelyincluded. The better ones include some crew datapoints. This is a good start, because studies by theNational Transportation Safety Board tell us humanperformance (error) is a major contributor in about70% of all professionally-flown aircraft accidents.

But none of the RATs we have seen have suffi-cient crew data. Your Flight RAT should gauge thecompetence of each crew member as well as the col-lective competence of the crew as a team. Are theyhighly experienced in the aircraft?

What is the crew’s chronic and acute fatigue sta-tus prior to the trip and at the end of each leg?These and many more factors should be identified,measured and scored.

RISK WEIGHT AND ACCRUALMost Flight RATs use a simple, linear scoring sys-tem. Unfortunately, linear calculations are not reflec-tive of the real potential of a Risk/Probabilityimpact. Therefore, there should be a weighting andaccrual algorithm at the heart of the tool. Forinstance, operating into international airspace

W

Impact

4 0 4 8 12 16

3 0 3 6 9 12

2 0 2 4 6 8

1 0 1 2 3 4

0 0 0 0 0 0

0 1 2 3 4 Probability


RAT SAMPLE


“The vastmajority of

safetymeasurementeffort thus farhas been on

the flight side.However, the

greatest risk ofdamage to your

aircraft is onthe ground.”

includes some communication challenges. If yourcrew has been to a remote location a number oftimes, the risk goes down as crew members gainfamiliarity. But if the trip is a first time arrival into aforeign airport in the mountains at night in lowweather, the algorithm must adjust the score for thecompounded and accrued risks.

USE THE RAT WIDELYMost RATs are used only once - as a pre-flight orpre-trip information device. Our study found sub-stantial benefit was gained by scoring the FlightRAT three times, including:

1. Initial trip request (creating a baseline score, andallowing the scheduling team to measure the impact of their contribution to reducing trip risks, and promoting inter-team collaboration - scheduling, maintenance, flight and management).

2. Pre-flight briefing (to provide a guide for the crew’s communications and preparation).

3. Post-flight debriefing (actual trip score changes are identified and trends are noted for future consideration).

You may have noticed I have distinguishedbetween the term RAT and Flight RAT. That isbecause the vast majority of safety measurementeffort thus far has been on the flight side. However,the greatest risk of damage to your aircraft is on theground. More damage is done to aircraft while they

are being moved or while they are parked thanwhen they are in motion for flight. Additionally,more people are injured around aircraft on theground than while they are in flight. Even so, thedevelopment of a Ground RAT for BusinessAviation is way behind the Flight RAT.

IN CLOSINGYou may have read the above information and bewondering, “as a Board Member, what do you sug-gest I do?” You need to confirm that:

1. Your Business Aviation department is using the most advanced Flight RAT available.

2. The Flight RAT is being scored three key times - trip request, pre-flight and post-flight.

3. Management reports based on Flight RAT data are developed and used effectively.

4. Your ground operations will be included in a RAT process of their own, ASAP.

In Business Aviation, there are many ways toskin a cat. That is why it is rare for me to make aspecific recommendation. But, in this case, the RATis king.

*To receive a copy of the FRAT paper, contact theFlight Safety Foundation or our offices. www.vanallen.com or www.flightsafety.org

Do you have any questions or opinions on the above topic?Get them answered/published in World Aircraft SalesMagazine. Email feedback to: [email protected]


www.AvBuyer.com WORLD AIRCRAFT SALES MAGAZINE – August 2012 57Advertising Enquiries see Page 8


hile watching your hometown 4th ofJuly parade with its colorful floats,loud bands, clowns and laughter it iseasy to be enthused. Once the parade

winds its way through town and the excitementdies down, how do you rate the experience?

Last month we talked about the value of thebusiness aircraft to the company. We mentioned theneed for the Board to shout the value proposition tothe shareholders and the stakeholders. We urgedDirectors to spread themessage that aviation

assets enable key employees to get out ahead of thecompetition and in front of customers. No doubtsuch interaction is mission critical to increasing thecore business of the company.

We agree that Business Aviation is great, but isthere a way to quantify the value proposition otherthan being a vocal advocate? Rather than simplybeing caught up in the excitement of BusinessAviation, is there a way to monetize the valueproposition?

Enthusiasm and emotion can distort how you quantify value,explains Jay Mesinger. The Boardroom is not immune. With thisin mind, how can you ensure you enjoy the value of BusinessAviation long after the newness of the company’s asset hasworn off ?

W

After The Parade Passes ByQuantifying value amid enthusiasm and emotion.

�


Jay Mesinger is the CEO andFounder of J. Mesinger CorporateJet Sales, Inc. Additionally, Jay isa Member of the Board of theNational Business AviationAssociation (NBAA), and theChairman of the AssociateMember Advisory Council(AMAC). He also sits on the JetAviation Customer AdvisoryBoard. Mr. Mesinger can becontacted at [email protected]


BGuide 4 Aug12_FinanceSept 24/07/2012 10:41 Page 1

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Charlie Bravo August 23/07/2012 14:49 Page 1


QUANTIFYING THE VALUEIf there is no question that the aircraft enabled youto close a seemingly impossible sale, you couldplace a value of that situation. Or perhaps youknow absolutely that customers were retainedbecause you were able to get a service team to theirlocations quickly using the business aircraft.Monetizing those events would give you a dollaramount to use.

However, the real question is this: Can the valueproposition be better estimated by measuring theincreased number of customers called on and the numberof sales calls made when your company has access to abusiness aircraft?

I believe that rather than being conceptual orfocusing on just a few special situations, you canplace an identifiable value on having a business air-craft by considering routine business activities. Ifyou are in a small or rural area not serviced bycommercial aviation there is no doubt that a busi-ness aircraft can save days of a sales person’s orexecutive’s time. Even if you are located in a citywith well-established airline service, days can besaved by using a business aircraft to call on clientsand move executives around the country (or world).

Comparing commercial service to business air-craft use, a company employee can easily call onthree customers in three different cities in one day,rather than calling on one customer in three days.

The ability to conduct business onboard a busi-ness aircraft while the executive is traveling to off-site meetings adds enormous productivity to thework day. Using state of the art technology in thearea of connectivity for business aircraft creates themodern office in the sky. This means that when thecabin door shuts and the flight takes off, the workday is not interrupted. Most commercial airlinersare not equipped to enable continued use of PDAswhen you are airborne, thus forcing the executiveto use the precious minutes while taxiing into theterminal to read what could be twenty or thirtyemails and make snap decisions regarding whichwarrants an immediate response, prior to reachingthe gate. Such work compression leaves no time tothink, respond and act presidential!

The value of using time productively and effec-tively is by no means conceptual. It is real. Movingthrough the world of business using a business air-craft allows you to move at the speed of business.This capability is a real tie-breaker when competingagainst someone who is calling on one customer inthree days, answering emails late with shoot-from-the-hip information, or delaying important respons-es until the next business day.

Rather than simply expressing the excitement of

using a business aircraft in general terms, take timeto observe and quantify how your company, yourexecutives, your sales and service team useBusiness Aviation by calling on more customers,staying ahead of the competition, and winning andretaining important business.

I think you will quickly see that you can validatethe value proposition of business aircraft and enjoythe parade well after the roar subsides. Do you have any questions or opinions on the above topic?Get them answered/published in World Aircraft SalesMagazine. Email feedback to: [email protected]



avbuyer.com/dealers


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s those of you who have hiked onrugged mountain trails can appreciate, aclearly marked, well-constructed andunobstructed path makes your trek easi-

er and more enjoyable. Similarly, it is essential forcompanies that own and operate business aircraft tocreate a clear and unambiguous path that will lead atax auditor to the simple conclusion that all tax con-sequences of such aircraft ownership and operationhave been accurately addressed.

Board Members must recognize the need to con-struct such a path at the inception of (and through-out) the business aircraft acquisition process, and tomaintain that path during the entire time the aircraftis owned and operated.

CREATING YOUR TRAILFirst, a Board must ensure that aircraft ownershipand operations are structured in a manner such thatany losses relating to the aircraft are currentlydeductible for Federal income tax purposes.Additionally, such a structure should be designed toeliminate or minimize the risk of any Federal ExciseTax liability with respect to such operations. The pathto be followed must be clear and unambiguous.

Next, Board Members should require a detailedbusiness plan setting forth the purpose for acquiringa business aircraft and the business goals to beaccomplished. Such a plan should be carefully writ-ten and well thought out, taking into account anytax objectives relating to aircraft ownership and use.

Following these two steps, the Board shouldwork with its expert professional advisors to createa tax-efficient structure in which the aircraft will beowned and operated. This part of the process iscompleted by preparing a comprehensive set of doc-uments relating to the ownership and operation,such as an aircraft usage policy, aircraft dry leases,charter and administrative services agreements, andagreements relating to joint aircraft ownership andusage.

Boards are well advised to structure aircraft acquisition andoperations with a sharp eye toward what tax auditors want tosee, cautions attorney Chris Younger.

A

Defensive Oversight:(Part 1)Preparing for federal tax challenges

�


Chris Younger is a partner at GKGLaw, P.C. practicing in the firm’sBusiness Aircraft Group. Hefocuses his legal practice onbusiness aircraft transactions aswell as issues relating to federaland state taxation and regulationof business aircraft ownershipand operations. Mr. Younger canbe contacted [email protected]


“The path to be followed

must be clear and

unambiguous.”


AIC August 23/07/2012 14:52 Page 1


Documents relating to financing must also bedrafted with care and analyzed to ensure that theytake into account all Federal Income Tax objectivesand do not create any impediments to the realiza-tion of those objectives.

CLEARING AND SIGNPOSTING YOUR TRAILIn an IRS tax audit, the Board wants an IRS agent tobe able to see the desired objectives as clearly aspossible. The structure described must documentthat all costs are ordinary, necessary and reasonableand show that all cost-related activities are pursuedto generate profit.

Furthermore, the Board should ensure that thestructure addresses all potential limitations on thededuction of any losses from the aircraft activitysuch as “passive activity” and “at-risk” loss limita-tions, and also limitations due to personal entertain-ment use or non-qualified business use of aircraft. Inthis way, the path that is designed and built by theBoard will serve its intended purpose.

Another key component in this process is thecontinued maintenance of the path so that an IRSagent has no trouble following its trajectory. In thecontext of an aircraft, the Board must ensure thatdetailed records are maintained. These recordsshould clearly identify the purpose for each flightand the reason why each passenger is on board theaircraft.

The path must be clear of all obstructions so thatit is easily traversed. The Board should ensure thatno extraneous and possibly distracting informationis created or preserved. In this way, the Board canhelp an IRS agent or anyone else who needs to fol-low the path stay on course and not be led inadver-tently to an unknown or unintended destination.

For example, if aircraft related depreciationshows up as a line item on a tax return, the Boardshould have very clear and easily retrieved recordssupporting the allowance. Again, this relates tomaintaining a clearly marked path, free of obstruc-tions, that is very easy to follow.

The use of the concepts described above canenable a Board to support the validity of any taxdeductions relating to a business aircraft and toavoid the possibility of unwanted liability forincome and excise taxes emanating from suchownership and operations.

The need for the Board to assemble a team ofexpert professional advisors to assist cannot beunderstated. Such a team can be an invaluableresource that enables a Board to proactively antici-pate and oversee a review of tax effects emanatingfrom the ownership and operation of a businessaircraft.

Note: This article should not be construed as legaladvice or legal opinion on any specific facts or circum-stances. The reader is urged to consult legal counsel orother advisors concerning his/her own situation andspecific legal questions. Please be advised that, to ensurecompliance with requirements imposed by the IRS, anyU.S. tax advice contained in this communication is notintended or written to be used, and cannot be used, forthe purpose of (i) avoiding penalties under the InternalRevenue Code or (ii) promoting, marketing or recom-mending to another party any transaction or matteraddressed herein.


“Another keycomponent... isthe continued

maintenance ofthe path so thatan IRS agent has

no troublefollowing itstrajectory.”



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THE BOARD CAN HELP AN IRS AGENT WHO NEEDS TO FOLLOWTHE PATH TO STAY ON COURSE TO A CORRECT CONCLUSION


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Eagle August 25/07/2012 09:48 Page 1

any of us routinely sign rental car agree-ments, bank loan documents and inter-net use clauses without even a cursoryreview. Why? Because we know wewon’t get the car, the loan or access to

the internet site if we don’t. Don’t take thesame approach when addressing contracts

relating to your aircraft, however. The finan-cial consequences are exponentially higher.

Contracts related to your aircraft can,and should be negotiated. By definition,

a contract is a binding (i.e., legallyenforceable) agreement between

two or more persons or parties.This means, like it or not,

that providing your

insurance broker and attorney a copy of any avia-tion contract prior to execution is not an option. It isa requirement for any well-run flight department.Following are some common agreements an aircraftowner might encounter:

* Purchase agreements* Hangar leases* Bank financing documents* Aircraft leases [dry lease, time share]* Replacement engine or parts leases* Maintenance agreements.

Almost without exception, all of these contractscontain clauses requiring you to meet certain insur-ance conditions. Ignore these or simply fail to take

‘PUNC’ (Pilots, Use, Named Insured and Contracts) is anacronym capturing the four most important areas of aviationinsurance that result in the largest percentage of claims denials,asserts Stuart Hope. This month, we consider the vitality ofreviewing all Contracts related to your aircraft.

M

PUNCYour Checklist for InsuranceCoverage

�


Stuart Hope is a co-owner ofHope Aviation Insurance. Hiscareer as an aviation insurancebroker began in 1979, and todayhe is a frequent speaker/authoron insurance & risk managementtopics. He also serves on theNBAA Tax, Insurance and RiskManagement Committee. Mr.Hope can be contacted at [email protected]



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action and you may find yourself in a nasty Breachof Contract lawsuit. In addition, most of these agree-ments also contain an indemnity clause that, regard-less of any insurance coverage you may or may nothave in place, makes you responsible for any and alllosses.

Let’s examine the insurance clause in a typicalTime Share Agreement.

“At all times during the term of this Lease, Lessorshall cause to be carried and maintained, at Lessor's costand expense, physical damage insurance with respect tothe Aircraft in the amount set forth below:

“Aircraft Physical Damage (Not Deductible While InMotion or Not in Motion) -The Greater of CurrentMarket Value or the Minimum Amount Required byLender.

“At all times during the term of this Lease, Lessorshall also cause to be carried and maintained, at lessor'scost and expense, third party aircraft liability insurance,passenger legal liability insurance, property damage lia-bility insurance and medical expense insurance in theamounts set forth below:

“Combined Liability Coverage for Bodily Injury andProperty Damage Including

- Passengers Each Occurrence - No Less than $50,000,000.00

- Medical Expense Coverage Each Person - $5,000.00

“Any policies of insurance carried in accordance withthis Lease: (i) shall name lessee as an additional insured;and (ii) shall contain a waiver by the underwriter thereofof any right of subrogation against Lessee. Each liabilitypolicy shall be primary without right of contribution fromany other insurance which is carried by Lessee or Lessorand shall expressly provide that all of the provisionsthereof, except the limits of liability, shall operate in thesame manner as if there were a separate policy coveringeach insured”.

Now let’s examine a loss to illustrate the poten-tial impact of not complying with the insurancerequirements set out above: An aircraft owner hasentered into a time share agreement (TSA) with alocal company but fails to forward a copy of theTSA to his insurance broker to endorse the policy asrequired. An ensuing accident destroys the aircraftand causes critical injuries to some of thepassengers.

Lawsuits are filed against you as owner of theaircraft and against the lessee. Upon receiving thesuit papers the lessee contacts you with a request toforward the lawsuit to your insurance carrier fordefense under the additional insured provision. Inaddition, their pilot was flying the aircraft and theyalso wanted to make sure the waiver of subrogationclause was activated. Last, they wanted to remindyou that your policy is primary without any right ofcontribution from any insurance they have in place.You vaguely remember reading these requirementsin the TSA.

If you didn’t comply with the contractualrequirements, you could be sued for breach of

contract. If the agreement also contained an indem-nification clause (which is common) you could beexposed to even greater liability. In short, this couldbe a very messy claim to settle causing you or yourcompany a great deal of pain, both financially andemotionally.

THE INDEMNITY CLAUSEThe indemnity clause also merits a close look as itcan really work against you in its most onerousform. Careful review of this clause along with theentire contract or agreement in question with a goodaviation attorney is worth every penny. He/she canguide you through the process and suggest wordingbased on fair benchmark language common to theindustry.

The money you saved not taking this step isobviously never worth it after a loss. Again, if youwant to avoid the cost of an attorney, do it on con-tracts that don’t have as much loss exposure. It justmakes sense.

Your aviation insurance broker can also be avaluable resource. He/she has seen numerous insur-ance and indemnity clauses in contracts and cansuggest more equitable language where appropriate.

In closing, when evaluating any contract relatedto your aircraft, contact your broker and attorneyduring the contract review process (if not earlier).The devil IS in the detail, and contract review is anintegral part of a well-run flight department’s riskmanagement strategy. Do you have any questions or opinions on the above topic?Get them answered/published in World Aircraft SalesMagazine. Email feedback to: [email protected]

“In short, thiscould be a verymessy claim tosettle causingyou or yourcompany a

great deal ofpain, both

financially andemotionally.”



Aircraft Services Group July 23/07/2012 14:53 Page 1

ow more timely and provocative can youget - looking at government use of businessaircraft here in the US with unemploymenthigh and budgets tight? Nexa Advisorsconcluded that properly used, “aircraft pro-

vide taxpayer-value by providing public safety andsecurity, more effective government, protecting pub-lic health and welfare, facilitating economic growth,improving tax dollar efficiency, promoting goodgovernment relations, and improving compliance.’’

While Air Force One is the most visible, and criti-cal, application of air travel by the White House, thereport discussed the other 99.9% of aircraft used byFederal, State and Local governments. Conklin & de

Decker, the firm where I am a part owner, has donenumerous studies justifying aircraft for individualagencies, and our own experiences mirror those ofthis report. Of primary significance for Boardroomreaders, many of the findings in the Nexa Advisorstudies as well as in our own work have relevancefor private-sector businesses. Let’s look at a few.

WRITTEN JUSTIFICATIONA strategy is needed to determine how an aircraftcan support the core mission of the business. Thereshould be a written justification of the need for anaircraft and on the requirements of the aircraft tosatisfy that need, and the document should be

The Nexa Advisors report entitled Government Use of Aircraftprovides valuable insights for Board Members considering BusinessAviation, advises David Wyndham. In its latest study for theNational Business Aviation Association, Nexa Advisors examinedGovernment use of aircraft from a taxpayer perspective.

H

Taxpayer Value -Shareholder ValueWhat’s Good for Government is also good for Business.

�


David Wyndham is an owner ofConklin & de Decker where thefocus of his activities is on air-craft cost and performance analy-ses, fleet planning, and life cyclecosting for clients. Mr. Wyndhamcan be contacted [email protected]



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reviewed and updated on an as-required basis. Thejustification should outline the benefits to the organ-ization in having an aircraft - connecting it to thecompany’s key missions.

The users of the aircraft, as well as the Board andthose who oversee the aircraft fiscally, need to beaware of this justification, which should also pro-vide the basis for managing the aircraft.

Accountability must be identified, such as who isresponsible for authorizing the use of the aircraftand who can request its use. Within many govern-ment agencies, not only do the high-level officialshave aircraft access (governor/CEO), but manyteams also use the aircraft when appropriate.

Travel costs can actually be reduced using a busi-ness aircraft. The State of Idaho found that for theirtravel, air transportation became less costly to thetaxpayer over surface travel when there were threeor more persons on the same aircraft. Their analysistook into account all of the costs of the trip, butmade no allowance for productivity of passengerswhile en route. Accounting for the ability to usetravel time as an extension of office time (sinceemployees can continue to address business issues),the savings could have been magnified.

Aircraft enhance employee productivity: Fewgovernment agencies have the funds for hiring newemployees. The aircraft, when used effectively,allows them to operate more efficiently with theemployees that they have, thereby reducing staffingand saving money.

Aircraft use enables the better management offacilities: Whether it is a State Wildlife Refuge or yourcompany’s factory, the management of the facilityoften requires direct involvement of senior manage-ment. Business aircraft enable more timely visits aswell as less total time allocated to facility oversight.

Aircraft can boost economic development: If youare evaluating a location for a new or greatlyexpanded facility, there are many factors involved.One of Conklin & de Decker’s state clients reportedthat a tour of the proposed factory site was key inthe company’s decision to locate to that community.By linking relevant parties, business aircraft canhelp facilitate the collection of information neededfor a major financial decision.

Aircraft ensure the security of employees:Business aircraft provide a safe environment forsensitive conversions, as well as a productive workenvironment.

While the Nexa analysis stated that there is nouniversal definition of taxpayer value, any publicly-traded company has clear metrics for shareholdervalue. The aircraft is a tool that - properly employed- enhances the ability for you to be more personallyinvolved in the success of your company, and thateffectiveness translates to a better bottom line.Aircraft work for governments; aircraft work forbusinesses.Do you have any questions or opinions on the above topic?Get them answered/published in World Aircraft SalesMagazine. Email feedback to: [email protected]

“The aircraft,when usedeffectively,

allows them tooperate more

efficiently withthe employees

that they have.”



avbuyer.com/dealers


Boutsen August 23/07/2012 14:57 Page 1

rom Entry Level Jets (under 10,000 lbs take-off weight) through Light Jets and on to theheady realm of the VIP-configured airlin-ers, something undoubtedly exists that will

accommodate your requirement for speed, rangeand capacity – especially for capacity.

Of all the business jet categories, none does moreto balance capability with utility than the MediumJet segment (loosely defined by aircraft with a maxi-mum take-off weight between 20,001-40,000 lbs); nosegment provides more options, either.

Medium Jets, as their label indicates, fall betweenthe Light Jet and Large-Cabin Jet segments innumerous ways, while leaning closer to the Large-

Cabin segment in several specific areas.Not too big, not too small, or expensive: Medium

Jets can be just the right fit for many operators.

CABIN VALUEA smaller Medium Jet can only improve incre-mentally on the cabin space of the largest LightJets, while the largest Medium Jet could dwarf thevolume of that same Light Jet model.

Medium Jets also tend to cruise at the upper-end of the private jet speed range – betweenMach 0.78 and Mach 0.85 - with one Medium Jet,Cessna’s still best-in-civil-aviation Citation Xcapable of cruising at Mach 0.92.

Among the genius aspects of private aviation, the broad spec-trum of solution options stands as a remarkable achievement.Neither too big, nor too small (and not too expensive), MediumJets can be just the right fit for many an operator.

F

Medium Jets ValueNot too big, not too small - and not too expensive

�



“Of all thebusiness jetcategories,none doesmore tobalance

capability with utilitythan the

Medium Jetsegment”.

BG 8Aug12_FinanceSept 24/07/2012 15:22 Page 1

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If there’s a contest to identify a give-back elementto the Medium Jet segment, most would opt for run-way flexibility. And that’s only fair. Runway require-ments for Medium Jets are generally longer than theaverage length needed by a Light Jet. But MediumJets typically can use a significant percentage of thesecondary airports serving most of the 150 largestmetropolitan areas in the U.S.

In general the average Medium Jet can reachmost of the U.S. non-stop from almost anywhere inthe U.S., thanks to their legs-capability. Medium Jetstypically can fly from several hundred miles to morethan 1,000 miles farther than the Light Jet average.

That range capability also gives the crew the flex-ibility to string together a sequence of stops thattotal the same distance. Using the latter approachmakes it possible for a Medium Jet to cover multiplestops and get home at the days’ end – without buy-ing fuel along the way.

CONSIDER A MEDIUM JET IF…This capability to avoid refueling on a multi-leg tripis called “tankering”, and it makes the Medium Jet amore-suitable solution than a Light Jet for the opera-tor who regularly needs to fly 2,000 nautical milesor more on a leg – or who may cover that much in aday or two flying multiple legs.

While on average faster than the Light Jet aver-age, a Medium Jet’s superior speed generally pro-vides only a few minutes of gain on the typicalBusiness Aviation trip of 350 to 500 miles, but thedifference will be notable on legs as long as theaverage Light Jet’s typical maximum range.

There’s no disputing the advantages of space inthe comfort equation, particularly when applied to

longer trips. That is ultimately where the MediumJet’s basic advantage comes into play. Medium Jetsdeliver plenty of added space and comfort over thetypical Light Jet – but at costs still significantlybelow those of the Large Cabin segment.

Indeed, Medium Jets generally can match theirLarge Cabin kin in terms of speed and, to a point,range - while providing reasonable office amenitiesthat are competitive with most larger aircraft.

It is little wonder that the Medium Jet segment isthe biggest selling, deepest segment across the busi-ness aircraft market.

MEDIUM JET PRICE GUIDEThe fo llowing Medium Jets Retail Price Guide rep-resents current values published in the AircraftBluebook – Price Digest. The study spans modelyears from 1993 through 2012. Values reported arein USD millions.

Each reporting point represents the current retailvalue published in the Aircraft Bluebook by itscorresponding calendar year. For example, theLearjet 45XR values reported in the Summer 2012edition of Bluebook show $4.9m USD for a 2004model, $5.4m USD for a 2005 model and so forth.

Aircraft are listed alphabetically. With the reader’sknowledge o f aircraft, equipment, range and per-formance, the fo llowing Guide allows the reader todetermine the best value range for consideration.


“There’s nodisputing theadvantages of space in the comfort

equation,particularly

when appliedto longer trips”.


BG 8Aug12_FinanceSept 24/07/2012 15:23 Page 2

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Aradian July 23/07/2012 14:59 Page 1


AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: [email protected]


MEDIUM JETS AVERAGE RETAIL PRICE GUIDESUMMER 2012

YEAR OF MANUFACTUREMODEL

2012US$M

2011US$M

2010US$M

2009US$M

2008US$M

2007US$M

2006US$M

2005US$M

2004US$M

2003US$M

BOMBARDIER CHALLENGER 300 24.326 21.0 20.0 17.7 15.8 14.5 13.4 12.5 12.0 11.5

CESSNA CITATION V1 650

CESSNA CITATION V11 650

CESSNA CITATION SOVEREIGN 680 17.658 16.0 14.2 12.5 10.5 10.0 9.5 9.0 8.3

CESSNA CITATION X 750 21.745 18.8 17.0 14.5 12.3 11.3 10.4 9.3 8.5 7.8

CESSNA CITATION XLS+ 560 12.714 11.7 10.1 9.4 8.4

CESSNA CITATION XLS 560 7.4 6.6 6.1 5.9 5.5

CESSNA CITATION EXCEL 560 4.7 4.3

DASSAULT FALCON 2000LX 32.3 28.0 25.2 23.0 21.0 19.5

DASSAULT FALCON 2000DX EASY 21.0 17.5 16.0

DASSAULT FALCON 2000EX EASY 22.0 19.5 18.5 17.0 16.5 16.0

DASSAULT FALCON 2000EX 15.0 14.0

DASSAULT FALCON 2000 13.5 13.0 12.5 12.0 11.0

DASSAULT FALCON 50EX 10.3 9.7 9.2 8.7 8.2

DASSAULT FALCON 50

GULFSTREAM G280 24.0

GULFSTREAM G200 18.0 15.0 12.0 10.5 10.0 9.5 9.0 8.3 7.8

GULFSTREAM G150 15.550 12.9 11.6 9.7 9.0 8.3 7.5

GULFSTREAM G100 5.5 5.1 4.8 4.6

GULFSTREAM/ ASTRA 1125 SPX

GULFSTREAM /ASTRA 1125 SP

HAWKER 4000 22.9 20.0 17.5 15.5 13.5

HAWKER 1000

HAWKER 900XP 16.1 13.0 10.5 9.5 8.8

HAWKER 850XP PRO LINE 8.3 7.2 6.3 5.6

HAWKER 800XP PRO LINE 4.8

HAWKER 800XP 4.6 4.2

HAWKER 800

HAWKER 750 11.0 9.0 7.8 6.8

LEARJET 60XR 13.7 11.0 9.5 8.0 7.1

LEARJET 60SE/XR 6.4

LEARJET 60SE 5.2 4.6 4.1

LEARJET 60 3.8

LEARJET 45XR 13.209 12.0 9.3 7.8 7.0 6.4 5.7 5.4 4.9 4.3

LEARJET 45 5.3 4.8 4.5 4.2 3.8

LEARJET 40XR 10.838 9.5 7.3 5.6 5.1 4.5 4.1 3.7

LEARJET 40 4.0 3.7 3.3 3.0

Retail Price Guide Aug12_PerfspecDecember06 24/07/2012 15:31 Page 1



E What your money buys today

BOMBARDIER CHALLENGER 300

2.0 1.9 1.8 CESSNA CITATION V1 650

3.7 3.3 3.2 2.9 2.7 2.5 2.3 2.1 CESSNA CITATION V11 650

CESSNA CITATION SOVEREIGN 680

7.4 6.9 6.6 5.9 5.5 5.0 4.6 CESSNA CITATION X 750

CESSNA CITATION XLS+ 560

CESSNA CITATION XLS 560

4.1 3.8 3.5 3.2 2.9 CESSNA CITATION EXCEL 560

DASSAULT FALCON 2000LX

DASSAULT FALCON 2000DX EASY

DASSAULT FALCON 2000EX EASY

DASSAULT FALCON 2000EX

10.5 10.0 9.5 9.0 8.5 8.0 7.5 7.0 DASSAULT FALCON 2000

7.7 7.4 6.9 6.5 6.2 6.0 DASSAULT FALCON 50EX

4.2 4.1 4.0 3.8 DASSAULT FALCON 50

GULFSTREAM G280

7.4 6.8 6.4 6.2 GULFSTREAM G200

GULFSTREAM G150

4.4 GULFSTREAM G100

4.0 3.7 3.5 3.3 3.2 3.1 GULFSTREAM/ ASTRA 1125 SPX

2.550 2.450 2.350 GULFSTREAM/ ASTRA 1125 SP

HAWKER 4000

3.5 3.4 3.3 3.2 HAWKER 1000

HAWKER 900XP

HAWKER 850XP PRO LINE

HAWKER 800XP PRO LINE

3.6 3.4 3.2 3.1 3.0 2.9 2.8 2.5 HAWKER 800XP

2.4 2.3 2.2 HAWKER 800

HAWKER 750

LEARJET 60XR

LEARJET 60SE/XR

LEARJET 60SE

3.6 3.4 3.2 3.1 2.9 2.8 2.7 2.6 2.4 2.3 LEARJET 60

LEARJET 45XR

3.4 3.2 3.1 3.0 2.9 LEARJET 45

LEARJET 40XR

LEARJET 40

2002US$M

2001US$M

2000US$M

1999US$M

1998US$M

1997US$M

1996US$M

1995US$M

1994US$M

1993US$M

YEAR OF MANUFACTUREMODEL

AIRCRAFT BLUEBOOK DATA - CARL JANSSENS, EDITOR. EMAIL: [email protected]

Retail Price Guide Aug12_PerfspecDecember06 24/07/2012 15:28 Page 2

ver the course of my career itseems that in any given yearprobably 95% of the transac-tions I am involved withinclude representation on both

the buying and the selling side. This is a goodthing. The leadership that is employed byboth sides keeps deals on track and facilitatesthe process from start to finish.

I was recently reminded how pivotal thisrepresentation is for the health and wellbeingof both sides of a successful experience cour-tesy of a transaction where the buying sidedid not employ the services of a broker. Therationale escaped me, but the consequencesdid not. While it is not impossible for deals toget done without the help of a broker, it is cer-tainly true that without the aid of a profes-sional, they get done with less manufacturedtension and the chance that a deal won’t getdone, or gets done for the wrong reasonsreduces drastically. Let me explain.

Typically, when one side or the other doesnot feel the need for hiring a professional, it isfor one of a few reasons. One may be a badexperience in the past with a broker. I get thefact that not all brokers deliver the same expe-rience, after all this is a people business. But Imust say that in many outcomes that are notas initially hoped for, the ingredients for theeventual outcome were clearer than one mightlike to admit from the inception of therelationship.

One should not forget that the mandate tofind the cheapest broker may flag up warn-ings when they do not have the experience orcapability to complete the job as required.Another mistake when buying is the percep-tion that there is so much available inventoryall you need to do is let the market know youare looking, thus nullifying the need to paysomeone to find an aircraft. In better-sellingmarkets, the reverse is true and a seller maythink they need only let the world know theyhave an airplane for sale one morning and itwill be sold by the afternoon.

None of these examples are good enoughreasons to decide to go it alone. There is anindustry full of wonderful hard-working andcapable brokers, even in an environment richwith supply. If you are out there alone, howcan you possibly differentiate between the

good ones and the bad ones? Or when thesupply is lean, how do you know you aren’tleaving something on the table when accept-ing an offer to sell?

The transactions we are involved in affectthe bottom line of our clients in a very posi-tive way, including the cost of our services.Most people who employ a broker to facilitatetheir transaction would have the same posi-tive feelings about the outcome.

Let us look at the myriad areas in whichthe broker will bring value. First and foremostis leadership. Without the broker, who willtake on that task and really be available whenneeded? In the very few cases where the roleis not filled professionally it may be filled byan internal attorney or a flight department

manager. They may be highly talented at whatthey do, but buying and selling aircraft is askillset of its own.

In this case of the transaction I mentionedabove, I had the privilege to work with theflight department’s Director of Maintenance.The only problem for him and the deal is thathe was still trying to do his day job whilesimultaneously trying to communicate all theneeded input to make the deal happen!

The other critical element in a transactionis the aviation attorney. In this same transac-tion the aviation attorney was very capable,but not necessarily so at carrying out the roleof a ‘team leader’.

The deal did get done in the end, but notwithout milestones and deadlines continuallyneeding to be extended and raised, and withmuch more bravado than if the leader was

just watching thetimelines and antici-pating the need fordecisions or signa-tures. It seemed thatat every event was amini crisis. If therehad been a designat-ed leader whose jobit was to have readand understood thecontract, and chart-ed the timelines then no one would have beentroubled at 5pm the afternoon the signaturewas needed to get the deal done (with onlyminutes to spare).

Ultimately, when the other side is makingall of the noise, it can seem like that side is theone pushing and pushing. If the contractallows for there to be an implied outcome ofrejection if no acceptance is made in the timeallotted, then the selling side has no idea if thesilence emanating from your team is a rejec-tion, or simply that no one realizes the imme-diate need of acceptance. This misjudgmentcan have horrible consequences.

The bottom line is that you should taketime to get to know the broker community inadvance of your need for them. Get to appre-ciate their value, and then employ a leaderwhen the transaction is upon you.

Next time a broker calls to introduce them-selves to you by way of a cold call, it is worthtaking a few minutes to speak with them.After all, you may very well be talking to yournext team leader.❯ Jay Mesinger is the CEO and Founder ofJ. Mesinger Corporate Jet Sales, Inc. Jay is on theNBAA Board of Directors and is Chairman of AMAC.He served on the Duncan Aviation Customer AdvisoryBoard for two terms and is now on the Jet AviationCustomer Advisory Board. Jay is also a member ofEBAA and the Colorado Airport Business Association(CABA). If you would like to join in on conversationsrelating to trends in Business Aviation, share yourcomments on Jay’s blog www.jetsales.com/blog, Twitterand LinkedIn. More information visit www.jetsales.com

Do you have any questions or opinions on the abovetopic? Get them answered/published in World AircraftSales Magazine. Email feedback to: [email protected]


Leadership In A Transaction

THE AVIATION LEADERSHIP ROUNDTABLE

O

Most people who employ a broker to

facilitate theirtransaction would

have the same positivefeelings about the outcome.

JMesingerAugust12_JMesingerNov06 24/07/2012 15:57 Page 1

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

A IRCR AFT SAL ES & ACQUIS IT IO NS

402.475.2611 · www.DuncanAviation.aero/aircraftsales · 800.228.4277

2 0 0 8 Fa l c o n 7 X s /n 0 3 3

620 Total Time. 240 Landings. ESP Gold. 13 Passenger Interior.

2 0 0 4 C i t a t i o n X s /n 2 3 6

2,500 Total Time. Engines on Corporate Care.

1 9 9 6 C h a l l e n g e r 6 0 4 s / n 5 3 0 7

7,500 Total Time. 3,400 Landings. Excellent Paint and Interior by Duncan Aviation.

1 9 8 5 F a l c o n 5 0 s / n 1 4 5

9,225 Total Time. MSP. 3D Engines. Collins EFIS 86. Dual UNS-1K.

1 9 8 4 F a l c o n 5 0 s / n 1 4 6

9,560 Total Time. Dash 3D. MSP. 9 Passenger. 2011 Paint by Duncan Aviation.

1 9 9 6 A s t r a S P X s / n 8 5

4,600 Total Time. 2,900 Landings. (2) UNS-1C+ FMS. Eight Passenger Interior.

1 9 9 2 L e a r j e t 3 1 A s / n 0 5 1

Low Total Time. Bendix 5-Tube EFIS. MSP. Universal UNS-1LW. NDH.

1 9 9 9 C i t a t i o n J e t s / n 5 2 5 - 0 3 0 2

3,900 Total Time. Tap Elite. One U.S. Owner Since New.

World Aircraft Sales Ad 7_18_12.indd 1 7/12/2012 2:35:37 PM


❯

he World Aircraft SalesMagazine Guide toAircraft Performance andTechnical Specification

Data is updated by Conklin & deDecker on a regular basis. The Guide ismuch more comprehensive andinformative, providing more aircrafttypes and models and including vari-able cost numbers for all models.

This month’s category of aircraft -Light Jets – appears overleaf, to befollowed by Turboprops next month.

Please note that this data should beused as a guide only, and not as thebasis on which buying decisions aretaken. The data presents aircraft agedbelow 20 years of age only, but Conklin& de Decker provides details of olderairplanes too.

If there are any other ways in whichwe can improve the content or presen-tation of this information, please let usknow.

❯ Tel: +44 (0) 208 255 4000; Fax: +44 (0) 208 255 4300; Email: [email protected].

© 2011 Conklin & de Decker Associates, Inc., P.O. Box 1142, Orleans, Massachusetts, 02653, Tel. 508-255-5975, www.conklindd.com

T

AIRCRAFT SPECIFICATIONS:LIGHT JETS

Aircraft Performance& Specifications

SEPTEMBER ISSUE: Turboprops

OCTOBER ISSUE: Ultra Long Range & Large Cabin

NOVEMBER ISSUE: Large Jets

DECEMBER ISSUE: Medium Jets

The following describes the content of each cost elementused in The Aircraft Cost Evaluator. There are no sales taxesincluded in these costs.

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

SPECIFICATIONS - GENERAL:CABIN DIMENSIONS Cabin Height, Width, and Length arebased on a completed interior. On “cabin-class” aircraft, thelength is measured from the cockpit divider to the aft pressurebulkhead (or aft cabin bulkhead if unpressurized). For smallcabin aircraft, the distance is from the cockpit firewall to the aftbulkhead. Height and width are the maximum within that cabinspace. Cabin Volume is the interior volume, with headliner inplace, without chairs or other furnishings. Cabin Door Heightand Width are the measurements of the main passenger cabinentry door.

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

CREW SEATS/SEATS EXECUTIVE This is the typical crew andpassenger seating commonly used on the aircraft. This is not themaximum certificated seats of the aircraft. These numbers mayvary for different operations (Corporate, Commercial, EMS, etc.).

WEIGHTS:• Maximum Take-Off Weight and Maximum Landing Weight arespecified during aircraft certification. • Basic Operating Weight is the empty weight, typicallyequipped, plus unusable fuel and liquids, flight crew @ 200pounds each and their supplies.• Useable fuel is the useable fuel in gallons x 6.7 pounds pergallon (Jet fuel) or 6 pounds per gallon (AVGAS).• Payload with Full Fuel is the useful load minus the useablefuel. The useful load is based on the maximum ramp weightminus the basic operating weight.• Maximum Payload is the maximum zero fuel weight minusthe basic operating weight.

SPECIFICATIONSPERFORMANCE RANGE:• Range - Seats Full is the maximum IFR range of the aircraftwith all passenger seats occupied. This uses the NBAA IFR alter-

nate fuel reserve calculation for a 200 N.Mi. alternate. This isused for jet and turboprop aircraft.• Ferry Range - is the maximum IFR range of the aircraft withthe maximum fuel on board and no passenger seats occupied.This uses the NBAA IFR alternate fuel reserve calculation for a200 N.Mi. alternate. This is used for jet and turboprop aircraft.• VFR Range - Seats Full is the maximum VFR range of the air-craft with all passenger seats occupied. This is used for all heli-copters and piston fixed-wing aircraft.• VFR Ferry Range - is the maximum VFR range of the aircraftwith the maximum fuel on board and no passenger seats occu-pied. This is used for all helicopters and piston fixed-wingaircraft.

BALANCED FIELD LENGTHBFL is the distance obtained by determining the decision speed(V1) at which the take-off distance and the accelerate-stop dis-tance are equal (fixed-wing multi-engine aircraft only). This isbased on four passengers and maximum fuel on board (turbineaircraft). For single-engine and all piston fixed-wing aircraft, thisdistance represents the take-off field length at Maximum Take-off Weight (MTOW).

LANDING DISTANCE (FACTORED)For fixed-wing turbine aircraft, landing distance is computedusing FAR 121 criteria. This takes the landing distance from50/35 feet (depends on certification criteria) and multiplies thatby a factor of 1.667. No credit is given for thrust reversers.Configuration is with four passengers and NBAA IFR FuelReserve on board. For fixed-wing piston aircraft, this figure isthe landing distance over a 50 foot obstacle.

RATE OF CLIMB (Ft/Min)The rate of climb, given in feet per minute, is for all enginesoperating, at MTOW, ISA conditions. One Engine Out rate ofclimb 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 maximumcontinuous power. This may also be commonly referred to as HighSpeed Cruise. Normal cruise speed is the recommended cruisespeed established by the manufacturer. This speed may also be thesame as Maximum Cruise Speed. Long Range Cruise is themanufacturer’s recommended cruise speed for maximum range.

ENGINESThe number of engines, manufacturer and model are shown.

Description of Cost Elements

ACSpecs IntroAug12_AC Specs Intronov06 24/07/2012 15:40 Page 1

PHONE: +1(561) 433-3510

2006 TBM 8502006 TBM 850

2001 TBM 700B2001 TBM 700B

2002 TBM 700B2002 TBM 700B

1991 TBM 700A1991 TBM 700A

2008 GULFSTREAM G1502008 GULFSTREAM G150 1981 KING AIR F901981 KING AIR F90

CORPORATE AIRSEARCH INTERNATIONAL, INC.

PHONE: +1 (561) 433-3510 | www.caijets.com

www.caijets.com

LIST YOUR AIRCRAFT WITH CAICALL US FOR MORE INFORMATION ABOUT OUR PROVEN SUCCESS RECORD.

CONTACT J.P. HANLEYPRESIDENT, CORPORATE AIRSEARCHINTERNATIONAL

[email protected] BEACH, FLORIDA

S/N 351 Only 695 Hours TTSN. Equipped with RVSM, 2-Tube Bendix EFIS, DualGarmin 530’s with WAAS, Garmin GMX-200 MFD with Chartview, TAS/TAWS, WX-500,Garmin GDL-69A Real Time Weather, and Garmin GTX-327 & GTX-330 Transponders.

S/N 239 1,705 Hours TTSN. Equipped with 2-Tube Bendix EFIS, Dual Garmin 530’swith WAAS, Garmin GMX-200 MFD with Chartview, Skywatch HP, Garmin GDL-69 RealTime Weather, and No Damage History. Aircraft located in Europe.

S/N LA-121 6,893 Total Time Since New, 3404/3404 SMOH, 231/231 SHS by Pratt& Whitney, 428/428 SPOH, EFIS-50, Dual Raisbeck Lower Aft Body Strakes, Frakes ExhaustStacks, and No Damage History. Owner Motivated!!!

This Gulfstream G150 has only 299 Hrs TTSN. Offers a Wide Cabin with Maximum Rangeof 2,950 nm with 4 Passengers, 2 Crew, NBAA IFR Reserves at 430 KTAS (Mach .75) orNormal Cruise of 459 KTAS (Mach .80). Universal 7 Passenger Interior.

S/N 200 1,595 TTSN, 718 SHS, 405 SPOH, Honeywell/Garmin Avionics incl. 2-TubeEFIS, Dual Garmin 530’s, KGP-560 EGPWS, Sandel SN 3308 EHSI, WX-1000E Stormscope,Annual and 10-Year Inspection c/w January 2012 and NDH.

S/N 003 Only Two Owners and 3430 hours Total Time Since New, 350 Hours SMOH,Garmin 530/430, Sandel EHSI, Gear on Long Life Program, NEW Windshields and De-iceBoots Fitted March 2012, Gear Actuators Overhauled March 2012, Located in Belgium,always Hangared, and No Damage History.


$2,347.07

4.35

4.95

12.9

261

3.75

3

30

-

2

6

17700

16000

11247

4653

2000

2253

1480

1600

3800

4200

4890

1515

462

441

417

2

TFE 731-2

$2,709.11

4.3

4.9

12.9

268

4.16

3

40

-

2

6

18300

15300

10310

6198

1992

3190

1930

2125

6300

4333

4340

1280

470

436

424

2

TFE 731-2

BOM

BARD

IER

LEAR

JET 3

5A

AIRCRAFT SPECIFICATIONS

$2,346.54

4.35

4.95

12.9

271

4.16

3

40

-

2

6

17200

16000

11203

4124

1873

2297

1211

1337

3800

4200

5110

1610

462

441

417

2

TFE 731-2

VARIABLE COST PER HOUR $

CABIN HEIGHT FT.

CABIN WIDTH FT.

CABIN LENGTH FT.

CABIN VOLUME CU.FT.

DOOR HEIGHT FT.

DOOR WIDTH FT.

BAGGAGE VOL. INT. CU.FT.

BAGGAGE VOL. EXT. CU.FT.

CREW #

SEATS - EXECUTIVE #

MTOW LBS

MLW LBS

B.O.W. W/CREW LBS

USEABLE FUEL LBS

PAYLOAD WITH FULL FUEL LBS

MAX. PAYLOAD LBS

RANGE - SEATS FULL N.M.

MAX. RANGE N.M.

BALANCED FIELD LENGTH FT.

LANDING DIST. (FACTORED) FT.

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

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

MAX. CRUISE SPEED KTAS

NORMAL CRUISE SPEED KTAS

L/RANGE CRUISE SPEED KTAS

ENGINES #

ENGINE MODEL

$1,782.74

4.7

4.8

15.75

278

4.25

2

28

46

2

7

14800

13500

9375

4824

801

1925

1290

1720

4160

4295

3190

845

405

405

335

2

PW530A

$1,461.18

4.75

4.83

11

198

4.25

2

8

51

2

5

10600

9800

7050

3220

430

1350

775

1161

4220

4407

3230

850

381

381

307

2

FJ44-1A

$1,490.63

4.75

4.83

11

198

4.25

2

-

45

2

5

10700

9900

7035

3220

545

1365

895

1245

3990

4135

3290

906

389

389

307

2

FJ44-1AP

$1,546.22

4.75

4.83

13.58

248

4.25

2

4

70

2

6

12375

11500

7900

3932

668

1400

1075

1530

3820

4628

3870

1160

413

413

344

2

FJ44-2C

$1,650.20

4.75

4.83

13.58

248

4.25

2

-

65

2

6

12500

11525

8000

3930

695

1700

1192

1626

3810

4702

4120

1004

413

413

351

2

FJ44-3A-24

CESS

NA C

ITATIO

N CJ

2+

CESS

NA C

ITATIO

N BR

AVO

CESS

NA C

ITATIO

N CJ

1CE

SSNA

CITA

TION

CJ1+

CESS

NA C

ITATIO

N CJ

2

BOM

BARD

IER

LEAR

JET 3

1ABO

MBA

RDIE

R LE

ARJE

T 31A

/ER

LIGHT JETS

CESS

NA C

ITATIO

N CJ

3

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.

$1,755.44

4.75

4.83

15.67

283

4.25

2

-

65

2

6

13870

12750

8585

4710

775

1925

1374

1891

3440

4203

4478

1090

417

417

348

2

FJ44-3A �

AircraftPer&SpecAug12_PerfspecDecember06 24/07/2012 14:23 Page 1

Delivering the highest quality engine care and service is our

business, and has made CorporateCare® the world leader of business

jet engine maintenance programs. A fact recognised in more than

just words. Aircraft enrolled in CorporateCare have higher asset

values, so while you are enjoying peace of mind today, you are also

investing in tomorrow. For more on CorporateCare, contact Steve

Friedrich, Vice President – Sales & Marketing, at +1 (703) 834-1700,

[email protected]. Trusted to deliver excellence

www.rolls-royce.com

A clearreflectionof valuewith CorporateCare®

Rolls Royce October 23/07/2012 15:02 Page 1


$2,121.60

4.75

4.83

17.33

307

4.25

2

28

43

2

7

16630

15200

10525

5400

905

2075

1410

1736

3920

4195

4740

1440

430

430

372

2

PW535A

$2,082.01

4.75

4.83

17.33

307

4.25

2

28

43

2

7

16830

15200

10460

5400

1170

2390

1494

1792

3920

4182

4620

1400

430

430

372

2

PW535B

CESS

NA C

ITATIO

N EN

CORE

+


$1,999.25

4.8

4.8

17.3

311

4

2

6

71

2

7

16950

15500

10242

5828

1000

2118

1802

2142

3430

3957

3945

1270

454

454

373

2

FJ44-4A


CABIN HEIGHT FT.

CABIN WIDTH FT.

CABIN LENGTH FT.

CABIN VOLUME CU.FT.

DOOR HEIGHT FT.

DOOR WIDTH FT.



CREW #

SEATS - EXECUTIVE #

MTOW LBS

MLW LBS

B.O.W. W/CREW LBS

USEABLE FUEL LBS


MAX. PAYLOAD LBS


MAX. RANGE N.M.








ENGINES #

ENGINE MODEL

$2,120.06

4.7

4.8

15.75

263

4.25

2

36

41

2

7

14100

13500

8650

4970

680

2350

1220

1520

4580

3583

3130

930

355

355

321

2

JT15D-4

$1,547.74

4.8

4.83

11

186

4.25

2

4

51

2

5

10400

9700

6950

3220

330

1450

750

1130

4010

4333

3311

868

377

364

302

2

FJ44-1A

$2,280.68

4.7

4.8

15.75

263

4.25

2

36

41

2

7

15100

14000

9000

5603

697

2200

1430

1840

4150

4500

3000

906

386

386

312

2

JT15D-4B

$2,333.24

4.8

4.83

17.33

292

4.25

2

26

41

2

7

16300

15200

9950

5771

779

2250

1259

1651

3510

3833

4230

728

400

400

372

2

JT15D-5D

$2,310.23

4.8

4.83

17.33

292

4.25

2

26

41

2

7

15900

15200

9400

5770

930

1800

1220

1644

3740

3750

3684

1139

397

397

350

2

JT15D-5A

CESS

NA C

ITATIO

N V

CESS

NA C

ITATIO

N II/

IISP

CESS

NA C

ITATIO

NJET

CESS

NA C

ITATIO

N S/

IICE

SSNA

CITA

TION

ULTR

A

CESS

NA C

ITATIO

N CJ

4CE

SSNA

CITA

TION

ENCO

RE

LIGHT JETS

CLIFF

ORD

FJ44

CIT

II 55

0


$1,852.35

4.7

4.8

15.75

263

4.25

2

36

41

2

7

14100

13500

8650

4970

580

2350

1622

2480

4580

3583

-

-

415

400

370

2

FJ44-3A �


STATUS AS OF MAY 24, 2012Registered Operator: KaiserAir, Inc.Aircraft Home Base: Oakland Int’l Airport (KOAK)Tail Number: N619ASerial Number: 1123Total Time on Aircraft: 8,544 HoursTotal Cycles: 6,221 LandingsDate of Manufacture: 1989Maintained on MSG-3 Schedule

ROLLS-ROYCE TAY ENGINES 611-SER

Left RightTotal Time 8267 hours 8450 hoursTotal Cycles 6119 6193Overhaul Completed May 2008 Dec. 200710 Year Due May 2018 Dec. 2017Total Time Since Overhaul 212.4 hours 479.7 hours

INTERIORNewly Remodeled 2006: Beige interior with European Beach Wood withGold Trim

EXTERIORNewly painted 2006: Basic White with Blue Stripes

AVIONICSHoneywell FZ-820 Flight Director3 Collins VHF-422C VHF CommsDual Collins VIR-432 NavsDual Collins ADF-462 ADFDual Collins TDR-94D TranspondersDual HF CommMotorola SelcalThree Honeywell NZ-2000Two Honeywell FMS CDU Model 820Honeywell FMS Data Loader 950Dual Honeywell Radio AltimeterHeads-Up Display HUD 2020Dual Honeywell 12 Channel GPSIridium SAT Phone (Wireless Handset Cabin and

Cockpit) ICS 200Dual Collins DME-442Allied Signal EGPWSHoneywell SATCOM MCS 3000Fairchild A 100 CVRHoneywell TCAS w/Change 7Honeywell Cabin Management System CMSThree Honeywell IRU LaserefsHoneywell GP-820 AutopilotHoneywell 880 RadarRVSM CertifiedHoneywell ISDUFlight Data Recorder

MISCELLANEOUS16 Pax Custom Executive Interior. Forward Galley. Fwd CabinConference Table. Mid Cabin Divan and Two Chairs Aft Cabin.Forward and AFT Lavatory. Airshow w/Color Monitor. FullEntertainment Center. Apple Mini Mac Computer w/WirelessMouse & Keyboard. Dual Coffee Makers. Toaster. High Temp Oven.Microwave. Apple iPod. Dual Honeywell DVD Players. SingleHoneywell CD Player

Specifications subject to verification upon inspection.Subject to prior sale or removal from the market without notice.

Contact: Sandy Waters. E-mail: [email protected]: +1 510 553-8437. Fax: +1 510.635.3173P.O. BOX 2626, Airport Station, Oakland, CA, 94614www.kaiserair.com

N619A (S/N 1123)Make offer

1989 GULFSTREAM GIV1989 GULFSTREAM GIV

Kaiser Air August 23/07/2012 15:03 Page 1


$1,745.42

4.92

5.08

17.17

325

4.86

2.38

11

74

2

7

17968

16865

11783

5353

942

2216

1692

1937

3474

3741

4050

1026

453

453

383

2

PW535E

$1,648.00

4.3

4.7

12.5

191

3.9

2.6

-

53

2

5

13950

12725

9000

4850

200

1500

1786

2338

6117

4583

3663

793

476

460

447

2

FJ44-2A

EMIV

EST A

EROS

PACE

SJ3

0


$1,953.07

4.7

4.8

15.75

263

4.25

2

36

41

2

7

15100

14400

8950

5800

550

2250

1974

2225

-

4500

-

-

415

415

383

2

FJ44-3A


CABIN HEIGHT FT.

CABIN WIDTH FT.

CABIN LENGTH FT.

CABIN VOLUME CU.FT.

DOOR HEIGHT FT.

DOOR WIDTH FT.



CREW #

SEATS - EXECUTIVE #

MTOW LBS

MLW LBS

B.O.W. W/CREW LBS

USEABLE FUEL LBS


MAX. PAYLOAD LBS


MAX. RANGE N.M.








ENGINES #

ENGINE MODEL

$2,344.93

4.8

4.9

15.6

305

4.16

2.41

31

25

2

7

16100

15700

10915

4912

473

2085

1180

1519

4600

5083

4020

560

458

449

410

2

JT15D-5

$2,220.53

4.8

4.9

15.6

305

4.2

2.4

31

25

2

8

16300

15700

10985

4912

603

2015

1180

1519

4600

5025

4020

560

450

450

410

2

JT15D-5R

$1,845.33

4.8

4.9

15.6

305

4.2

2.4

31

25

2

7

16300

15700

10900

4912

688

2100

1344

1951

4180

4045

5000

620

450

450

425

2

FJ44-4A-32

$1,673.54

5.4

5.5

13.6

315

4.16

2.125

23

55

2

6

12500

11600

8565

3611

414

1435

850

1340

4650

5208

4000

948

461

426

370

2

FJ44-2A

$1,649.86

5.4

5.5

13.6

315

4.167

2.125

23

55

2

6

12500

11600

8600

3670

320

1400

850

1340

4650

5208

4000

948

454

426

370

2

FJ44-2A

HAW

KER

BEEC

HCRA

FT P

REM

IER

IA

HAW

KER

BEEC

HCRA

FT B

EECH

JET 4

00A

HAW

KER

BEEC

HCRA

FT H

AWKE

R 40

0XP

HAW

KER

BEEC

HCRA

FT H

AWKE

R 40

0XPR

HAW

KER

BEEC

HCRA

FT P

REM

IER

I

CLIFF

ORD

FJ44

CITA

TION

SII S

550

EMBR

AER

PHEN

OM 3

00

LIGHT JETS

NEXT

ANT 4

00XT


$1,775.63

4.8

4.9

15.6

305

4.2

2.4

31

25

2

7

16300

15700

10531

4912

1057

2469

1852

2108

4600

4045

5000

995

471

460

405

2

FJ44-3AP �


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$5,400,000 USD

2007 A109S Grand s/n 22062, TTAF 632

$2,200,000 USD

1996 AS355N, TTAF 3000

MAKE OFFER

2008 AS365N3 s/n 6824, TTAF 18

2006 Lear 45, TTAF 24501980 Beechcraft King Air F90, TTAF 4960

$1,250,000 USD $3,700,000 USD

2007 Premier 1A, TTAF 750

$2,995,000 USD

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1980 S76A+, TTAF 6933

$1,500,000 USD

2001 AS355N, TTAF 635

$1,500,000 USD

1992 Bell 206L3 s/n 51562, TTAF 10,861

Selling two LongRanger’s one aircraft hastwo airworthy blades

PremiAir August 23/07/2012 15:04 Page 1

$1,806.77

4.3

4.9

12.7

205

4.25

2

40

17

2

5

12500

11350

7400

3780

1670

2750

1230

1400

3600

3500

4000

1500

350

385

350

2

FJ44-2A

$1,873.08

4.7

4.8

15.75

263

4.25

2

36

41

2

7

14100

13500

8650

4970

580

2350

1662

2480

4580

3583

4500

1780

415

400

365

2

FJ44-3A

SIER

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DUST

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FJ4

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$1,806.77

4.3

4.9

12.7

205

4.25

2

40

17

2

5

12500

11350

7400

4580

910

2750

1650

1800

3600

3500

4000

1500

395

365

345

2

FJ44-2A


CABIN HEIGHT FT.

CABIN WIDTH FT.

CABIN LENGTH FT.

CABIN VOLUME CU.FT.

DOOR HEIGHT FT.

DOOR WIDTH FT.



CREW #

SEATS - EXECUTIVE #

MTOW LBS

MLW LBS

B.O.W. W/CREW LBS

USEABLE FUEL LBS


MAX. PAYLOAD LBS


MAX. RANGE N.M.








ENGINES #

ENGINE MODEL

$1,945.42

4.7

4.8

15.75

263

4.25

2

36

41

2

7

14400

13500

9000

5603

697

2200

1800

2300

4580

4500

4300

1640

415

415

375

2

FJ44-3A

$1,033.00

4.5

4.58

9.8

144

3.8

2

6

57

1

4

8645

8000

5550

2580

600

1200

716

1068

3380

3683

3010

870

340

340

319

2

PW615F

$871.82

4.16

4.66

7.6

160

3.9

1.96

16

-

1

3

6000

5600

3834

1698

502

1088

574

964

-

5015

2665

826

-

370

-

2

PW610F-A

$1,153.33

4.92

5.08

11

208

4.86

2.04

11

60

1

5

10472

9766

7132

2804

580

1312

926

1124

4376

4122

3061

852

390

390

333

2

PW617F-E

EMBR

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501S

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LIGHT JETS VLJ JETS

HOND

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$1,166.87

4.94

5

12

-

-

-

-

66

1

5

9963

-

-

-

-

-

1035

1304

-

-

3990

-

420

420

-

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HF120


�


Toll Free 866.983.9009 | Local [email protected]

LOS ANGELES | SARASOTA

1994 Cessna Citation Ultra4,512 T/T, 935/935 SMOH, New Paint (2012),

Primus 1000 w/ 3-Tube EFIS, TCAS-ll w/Change 7, RVSM Compliant, CESCOM,

Make Offer, Trades Welcome

1999 Cessna Citation Ultra7,226 T/T, 2,242 SMOH, Primus 1000 3-TubeEFIS, Fresh Phase l-V Completed in 01/2012,

Mark Vll EGPWS

Jet Black August 24/07/2012 12:46 Page 1

t’s my policy to not endorseproducts in this letter, butrecently I was enjoying somePlymouth gin with a friend,and he told me that this suc-

cessful brand was actually brought backfrom the dead a few years ago. Someinvestors had bought it, revived it, marketedit, and created a success. Apparently, this iscommon in the consumer product biz.

Brands that still have brand equity (andtherefore potential value), but are dormantor near death, are called ghost brands.Examples include Brim coffee, Eagle Snacks,and something called Nuprin. You may havethought these products had died, and theymay indeed have, but they and others havebeen put back on the market, sometimessuccessfully.

This got me thinking about ghost brandsin the aviation world - a timely discussionbecause in April, Eclipse Aerospaceannounced that it had received an FAA pro-duction certificate that would let it resumeproduction of its Eclipse 500 VLJ (as the

Dear Fellow Three-MartiniPlay-Date Enthusiasts...


Eclipse 550). I was rather hoping to spendthe rest of my life never discussing Eclipseagain, but there is now the intriguingprospect that they become aviation’s firstsuccessfully revived ghost brand, more onthat later. My key finding is that aviation hasno ghost brands. In fact, it’s death on brandrevivals.

I recently got a letter from“200 KelseyAssociates LLC” claiming ownership of theAir Afrique, BOAC, Pan Am, and PeopleExpress trademarks and offering a commis-sion to anyone finding a buyer. If there’s abrand that might have had some residualbrand equity, it was Pan Am. It has beenrevived as a name five times, in a series ofincreasingly pathetic airline ventures, and itsname has also been used for some nauga-hyde bags and a short-lived retro-nostalgicTV series.

Braniff, another airline that might havehad some luck under the brand electro-fibril-lator, has seen three failed re-boot efforts.Airlines don’t get revived because, to put itgently, most airlines suck. They don’t have

much brand equity, or consumer goodwill ofany kind, to revive. Good airlines, such asSouthwest don’t die in the first place, so theydon’t need to be revived.

But what about aircraft manufacturers?The story is equally grim: exactly zero suc-cesses. McDonnell, Douglas, Convair, andRepublic, for example, are brands that you’dthink would have had value for someone, yetremain stubbornly dead, at least in the air-craft industry. A survey of the aircraft busi-ness graveyard yields some quirkycorollaries:

1. Reviving aircraft is possible; just don’t revive a dead brand for them. Whether it’sthe C-5B or the G.222 (now C-27J) or the many reinventions of the Rockwell Jet Commander (now Gulfstream G150), many aircraft programs have been broughtback, with names changed to protect inno-cent and guilty alike. Most recently, Vikinghas re-birthed the old De Havilland Twin Otter, and RUAG has re-launched the Dornier 228. Of course, re-branding

I

TEAL BRIEFING

Teal Briefing_FinanceSept 24/07/2012 08:43 Page 1


doesn’t necessarily help; the Sino-Swearingen SJ30 has been given more all-new brand names than I can recall, but after 25 years of trying, it’s clear that the crypt will stay shut.

2. Don’t revive a dead brand for an existing product. Raytheon/Hawker Beechcraft’s Premier 1 did well enough. Then they re-named it the Hawker 200. That grand old brand, along with a horrendous market downturn, killed it. Back in the 1980s and 1990s, BAe made a go of the 146 100-seat quad jet, but then it revived the old Avro name. The product keeled over and died. It would have anyway, but planes can die for more than one reason. Remember, too when BAe applied the old Jetstream name to the ATP regional prop? Instant death.

3. Double the ghost name, double the pain.Fairchild Dornier and Hawker Beechcraft were both new companies (the latter with existing products) that decided to revive not one but two dormant/dead brands. FDsuffered arguably the worst implosion of any start up yet. HB lost billions of dollars in the downturn, finally declaring bank-ruptcy in May, with the loss of some, or all, of its jet product line. Lockheed Martin and Northrop Grumman weren’t reviving old brands; they were merely merging businesses to help everyone

survive. But when Boeing merged with McDonnell Douglas they had the good sense to not append those names to their own (although they did keep some of the top management, which was just as bad).

4. The effect shows up through the supply chain, too. At the component level, no one is reviving the Coltec or Garrett brand names, despite possible appeal to some oldtimers. Also, there are two big aero structures companies in the US, both carved out of larger entities. One adopted an all-new moniker, Spirit, and did very well. Another revived a dead airframer name, Vought. They did poorly. Once again, there’s no proof that adopting a legacy name hurt them. But looking at all the evidence above, I’d be careful about standing too close to any revived brand legacy chalets at air shows. They tend to self-destruct.

Back to Eclipse - this aircraft has its fans,and the new company’s goals soundextremely reasonable, particularly comparedwith the Ponzi-like numbers offered with theoriginal program. Let bygones be bygones,especially since the company is no longermanaged by Vern Raburn (unfortunately forthe new owners, “No longer managed by VernRaburn!” is not a useful marketing slogan, nomatter how accurate and appealing it may

sound). I’m also prepared to look past themarket problem. The bottom end jet marketis still scraping along the bottom, but it willbe back one day.

However, there’s a bigger problem on theproduction side. United Technologies, whichbuilds the vast majority of the Eclipse(engine and airframe) has signaled that itwon’t invest more than the $25 million-or-sothey’ve already kicked in. So, who will fundthis revival?

Who will convince all the other suppliers,burned when the company flamed out in the‘2000s, to invest in resuming production? Butmost of all, to recap, if Eclipse resumes pro-duction, it will be the first revival of a deadbrand in the aviation biz (let me know if youcan think of another).

The aircraft industry has high barriers toentry, low barriers to exit, and seeminglyimpossible barriers to re-entry. Therefore, wearen’t updating our Eclipse report with aforecast, but I can’t exclude the prospect ofhaving to add one,either.

� Richard Aboulafia can be contacted on (703) 385-1992 ext. 103(office); [email protected]

8 0 0 - 5 3 5 - 8 7 6 7 / 5 0 3 - 8 6 1 - 2 2 8 8w w w. l e k t ro. co m / s a l e s @ l e k t ro. co m

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■

Teal Briefing_FinanceSept 24/07/2012 08:49 Page 2

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JetNet August 23/07/2012 16:54 Page 1

Plane Sense on Refurbishments

August 2012

UPGRADESRETROFITSREFURBISHMENTSMROBUSINESS AIRCRAFT

World Aircraft Sales/AvBuyerFor advertising contact:[email protected]

Plane Sense Cover Aug12_FinanceNov 24/07/2012 11:03 Page 1

lanning and managing a majoraircraft refurbishment can be anoverwhelming chore that canclosely parallel the building of a

new house. According to Consumer Build, anindependent New Zealand organization thatprovides information to consumers planninga home construction project, there are 10steps in the process of planning the buildingof a house.

By applying these same steps to theaviation industry, we can get a good idea ofhow to approach planning major aircraftrefurbishment work.


Plane Sen

se on

Refurb

ishm

ents

How to plan a major ‘facelift’ for your aircraft.

by Janet Beazley

It’s In The Detail...

It’s In The Detail:How to plan a major ‘facelift’ foryour aircraft.

P

96

102

110

Refurbishment FAQs:‘Is it done yet? ‘ and otherfrequent questions.

Surprises that Impact your Refurb Budget.

Plane Sense August_FinanceNov 24/07/2012 11:56 Page 1

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STEP 1: DETERMINE THE PROJECT’S SCOPEIn the business aircraft industry today, moreand more operators are choosing to refurbishtheir current aircraft over purchasing a dif-ferent one. This work is typically completedwhen the aircraft has a major maintenanceevent due because downtime and access timecan be drastically reduced by combiningthese events into one.

First, the operator will need to identify allupcoming required maintenance items. Theoperator’s tracking program can assist withthis. The operator will also need to consider

time. Most maintenance events are per-formed on an hourly, monthly or annualbasis, which determines the dates needed foraircraft input into a maintenance facility.

In addition to setting the input timeline,the operator needs to decide what otherwork will be done, looking at the potential ofnew paint, interior updating and avionicsupgrades. They will also need to consider:

• Are there needs to be met for compliancemandates?

• Is the aircraft operated as Part 91 or Part 135?

• Are there special programs for tracking, maintenance, engines and parts?

• Do warranty programs apply?• Are there service bulletins (SBs) that

need to be accomplished?• Are there airworthiness directives (ADs)

that need to be cleared?

Once these questions are addressed, theoperator will want to speak with potentialservice facilities and personnel because it isvery important that they be brought aboardearly on for the project for the best results.

Mary Lee, Senior Interior Designer with


▲

Duncan Aviation’s Lincoln, Nebraska, loca-tion explains, “Our involvement occurs veryearly, when the project is in the sales phase.We need to assist in finding solutions for acustomer in a timely fashion. The customermay need illustrations, a floor plan, cabinetdrawings, material specifications, visual aidsand color boards to present to theirPrincipals.”

Lee adds that the extent of the project, thematerials used and the design are all impor-tant planning aspects that often take placebefore an operator chooses their completionsfacility. The considerations include thingslike whether the interior will be re-config-ured, if the operator wants to include newlighting, new entertainment, or a new sound-proofing package, and more. Pre-planningfor a large refurbishment often starts asmuch as a year or more in advance, depend-ing on the project’s scope.

Certification can play an important role inthe pre-planning time necessary. “It is impor-tant to know if, and how the existing interioris certified,” Lee notes. “This will helptremendously in certifying any new modifi-cations that may be done.”

STEP 2: ORGANIZE FINANCESOrganization of finances is an obvious andvery important step for operators. Once theoperator has determined the scope of theproject, the next step is to get quotes fromdifferent maintenance, repair and overhaul(MRO) facilities. During this process, theoperator should share budget requirementswith the MRO, as they can work together tomeet needs, schedules and budgets.

During the process, the operator will needto match all of their requirements with themany different capabilities of the MRO.MROs have varied capabilities, dictating thatthere may only be a few that will match all ofthe operator’s needs.

If this area is new territory, a visit to somedifferent facilities may be in order. A site visitwill give the customer the opportunity to seethe facilities first-hand, to visit with peoplefrom different areas of the company, and tomake assessments based on what they haveseen rather than what they are told.

Some questions to consider during thisphase include:

• What are the needs surrounding the project?

• Is engineering needed?• What are the structural needs?• Does the MRO have all of the tooling

required?• What are the certification needs?• Can the MRO support all of those needs?

When discussing these needs, the opera-tor should include a detailed work-scopealong with photographs, if possible. It maybe necessary for MRO representatives to visitthe operator’s facility to gain access to theaircraft and ensure that in preparing theirquote, they are as accurate as possible.

Besides looking at capabilities andrequirements needed for the project at hand,an operator will want to consider value-added services, or intangibles, in their com-parisons including a wide variety of itemsfrom insurance to hazardous waste disposal.[To help in your facilities comparison,Duncan Aviation has an MRO comparisonworksheet that might be useful at http://www.duncanaviation.aero/fieldguides/promotions/200911mro_comparison_worksheet.php].

STEPS 3, 4 & 5: THE DESIGNER,PROJECT MANAGER & OTHER TRADES PEOPLEThe next three steps can be combined for ourpurposes. As alluded to in Step 2, the keystep in a large aircraft refurbishment projectis choosing the maintenance facility that willcomplete the work to the standard youexpect.

As Mary Lee stated, planning is absolute-ly essential for major projects and it startswell in advance of aircraft input. Besidesdetermining just what will be done, the shop



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will need to plan project-flow and set period-ic deadlines to keep the project on time. Lookto be assigned a Project Manager who willplay a key role in managing the planningand day-to-day progress on major projects.Once the MRO is chosen for the project, itshould turn the project over to a project man-ager, who is the one point of contact goingforward for the customer.

Managing complex projects is where theproject managers really shine. Their goalsshould be to meet the customers’ expecta-tions, to meet interim project milestones and,ultimately, to meet - or better - the promiseddelivery date of the aircraft.

STEP 6: ORGANIZE CONTRACTThe organization of such a large undertakingis a culmination of effort from many partiesand disciplines. It takes organizational skillsfrom a management perspective. On a largerefurbishment project, there will be a lot ofthings happening at one time, and a scheduleneeds to be set and adhered to.

The reality is that adjustments will needto be made to the schedule, and as a teamyou can meet and discuss these to find solu-tions and alternatives that keep the projecton track. A firm grasp of the overall project isrequired, because in maintenance you neverknow what may come up or what could beuncovered.

STEP 7: GET BUILDING &RESOURCE CONSENTS (PERMITS)When considering a major aircraft refurbish-ment project, an operator needs to determineany interior or avionics modifications thatwill be done, or any major changes that willbe made. In an industry as regulated as avia-tion, this will include discussion about the

approval path for those changes.These can sometimes be complex, but are

typically resolved and a solution found.When a Supplemental Type Certificate isrequired, however, facilities that haveOperational Delegated Authority (ODA)with MRA and STC approvals will be help-ful. These delegations have allowed theindustry more autonomy and efficiency.

STEP 8: BEGIN CONSTRUCTIONAfter all the planning, the day of input final-ly arrives and “construction” on the projectbegins. The first few days will be busy andthe operator will meet many people. Teammembers should be encouraged to get toknow their customers, and for customers todevelop relationships with the team mem-bers - not just their project manager.

Customers may choose to be an integralpart of the project and be on site at the facili-ty during a major event. Doing so allowsthem to see the progress and maybe see partsof their aircraft that they will not see while

doing daily maintenance or smaller inspec-tions at their own facility. It also can be goodto have the customer there to enable them tomake decisions and approve work whenneeded.

STEP 9: FINAL INSPECTION & CODE COMPLIANCEIt may seem that on a large project there willnever be an end in sight, yet there alwayscomes a point when you can really see thingsstart to come together. It’s exciting to see thenew product, from the new woodwork, plat-ing, carpet and seats to a new paint scheme.

It’s also reassuring to know what liesbeneath all of that is safe and airworthybecause you have chosen a facility with agreat reputation, and that really knows youraircraft and is confident in their ability to putout a very safe product.

Inspections will assure that all supportingdata and documentation is prepared andavailable for the customer.

STEP 10: LOOSE-ENDS & FOLLOW-UPThe last step for a large project is to followup. Feedback - good or bad - is important to allparties; MRO facilities all need to know howwe did, otherwise improvements will be dif-ficult to make, and most facilities want tocontinue to improve!

Janet Beazley began hercareer in aviation with theUS Air Force 30 years agobefore moving into civilianaviation. She linked upwith Duncan Aviation in1988 as a wiring techni-cian, progressing to teamleader and then assistantmanager of the installa-tions shop. Today Janet isProject Manager at Duncan Aviation – a post she hasheld for four years. She can be contacted at email:[email protected], Tel: +1 402 479 8125,More from www.duncanaviation.com


■

ALL

PHO

TOS

IN T

HIS

ART

ICLE

©DU

NCA

N A

VIAT

ION


800.228.4277 • www.DuncanAviation.aero/paint • 800.525.2376

Looking through the descriptive ads of pre-owned aircraft for sale, you can see the implied value of an aircraft painted by Duncan Aviation. The ads proudly list “Painted by Duncan Aviation” as a selling point. The industry knows that a Duncan Aviation paint job means high quality and a long-lasting finish. Even in areas we are already well-known, like paint, Duncan Aviation continues to innovate and grow. Early last year, Duncan Aviation began using a chrome-free paint process. This process is safer and better for the environment, the painters and the airplane, and the company was one of the first in the industry to make the switch. Late last year, Duncan Aviation began offering customers the option to work with three-dimensional renderings while collaborating with Duncan Design on their aircraft exterior paint schemes. This design tool helps clients better visualize how a design will wrap around an aircraft before a paint scheme is actually applied. And this spring, Duncan Aviation added a new 45,000-square-foot paint facility at its Lincoln location. The new facility has the latest down-draft air flow technology, including automatic monitoring and alarms to provide the best paint environment possible for some of the largest business aircraft in use today, including Gulfstream’s 650, Bombardier’s Global Express, Dassault’s Falcon 7X and Embraer’s Legacy. As always, Duncan Aviation looks for inventive and inspiring ways to provide customers with their perfect aircraft, from exterior paint to interior refurbishment and modifications. Find out for yourself the quality a Duncan Aviation project can provide.

Painted by Duncan Aviation. Enough said.

Planesense Cabin Avionics Ad 7_18_12.indd 1 7/12/2012 10:56:02 AM

▲

hops across the country continue tostay busy through the wonders ofthe aircraft refurbishment business,working with owners to decide

what, if anything, to do with the existing jet.Making the decision to refurbish a compa-

ny airplane, regardless of size, brings with itthe need to weigh other issues up while out-lining the project. A host of questions needanswers – and with so many decisions inter-twined, it’s no wonder that operators oftenfind themselves swamped with questions –questions to which the answers often depend

on the answers to still other questions!In the real world single questions rarely

draw one single, overarching answer.Exterior work, painting and windows, bodywork, the interior, powerplants, avionics, andcabin systems – all bring their own set ofconsiderations and questions.

With this in mind, we offer as a startingpoint some of the FAQs gleaned from the topminds in refurb shops, ranging from paintand interior to engines and avionics - a col-lection of all-encompassing shops, and anarray of specialty operations – with the hope


Plane Sen

se on

Refurb

ishm

ents

“Is it done yet ? “ -

and other frequent

questions.

by Dave Higdon

Refurbishment FAQs:S

Plane Sense 3 Aug_FinanceNov 24/07/2012 12:10 Page 1

Scan this QR code to see our current inventory.

Banyan June 24/07/2012 12:52 Page 1

that it will help the would-be refurbishmentclient gain a larger, sharper picture of theproject they envision.

We’ve gone further, to break them downinto the top three arising from pre-refurbish-ment planning, from the during-refurbish-ment segment, and from the après-refurbprocess. Without further ado, here are thepopular questions and answers in aircraftrefurbishment.

PRE-REFURBWith so much riding on the outcome, thesmartest operators work with a refurbish-ment ombudsman - someone charged withtracking the project and reporting back to theoperator. Alternatively, the operator choosessomeone to oversee and coordinate the entireproject and serve as the owner’s eyes andears on the work being done.

Work with a planner to set the scope ofthe project so you can answer these most-common pre-refurbishment questions.

How should we set the scope of this job?You can start to set the scope of the job byfirst examining all you like and dislike aboutthe aircraft in its current form, whether onyour own or in coordination with arepresentative.

For example, if the paint and windowsremain in top shape – or in good-enoughshape for renewal rather than replacement –set the paint and windows outside the scopeof the job, or limit work on them to touching-up and renewing the window trim and paint.Conversely, if avionics fall short of lettingyou fulfill common missions with minimalhassle, include a cockpit makeover to thescope of the job.

Next, carefully examine the interior –from the headliner, down the fabrics andtrim on sidewalls, to the carpeting underfoot.Check the condition of the upholstery as wellas ancillary systems already installed.

Finally, inventory the number and age ofcabin systems, such as in-flight phones, in-flight entertainment options and in-flightoffice systems – Internet access included.Now you should be able to formulate someanswers as to how to set the scope for thejob.

How should I set spending limits and plan a budget?Spending limits could well come first if thecompany budget is tight – or it may not fac-tor at all if the operator enjoys the deepest ofpockets; in these cases the answer might wellbe, “Whatever it costs!” But seldom do oper-ators feel comfortable issuing blank checks,so our best suggestion for answering thisquestion begins with the universal caveat:“It depends…”


▲


Gulfstream Pre-Owned. Contact Lynn Beaudry. [email protected] Tel: (912) 965-4000 • Fax: (912) 965-4848

2440 TT, 1241 Landings, Fourteen (14) Passengers with anAft Galley. 26" Club Seats & Enhanced Soundproofing

$24,250,000

2006 Gulfstream G450 S/N 4039

2052 TT, 662 Landings, Engines and APU enrolled on JSSISelect. Sixteen (16) Passengers with a Forward Galley

$36,950,000


4834 TT, 2086 Landings, Engines enrolled on Rolls RoyceCorporate Care. Enrolled on PlaneParts. Sixteen (16) Passengers

with a Forward Galley and Forward Crew Rest $27,995,000

2002 Gulfstream GV S/N 662

5526 TT, 1516 Landings, Fourteen (14) Passengers with AftGalley and Forward Crew Rest $23,000,000


7213 TT, 2813 Landings, Fourteen (14) Passengers withForward Galley and Forward Crew Rest. New Paint

February 2012 LEASE ONLY


519 TT, 244 Landings, Engines enrolled on ESP Gold. AutoThrottles. Nine (9) Passenger Configuration.

$13,900,000


2511 TT, 1445 Landings, Engines enrolled on ESP Gold.Auto Throttles. Ten (10) Passenger Configuration

$9,950,000


2732 TT, 1547 Landings, Engines enrolled on ESP. Nine (9)Passenger Configuration. Fresh 8 year Inspection

$7,500,000


3421 TT, 1497 Landings, Engines enrolled on ESP. Ten (10)Passenger Configuration. Interior refurbished in 2010

$7,000,000


5815 TT, 3936 Landings, Engines enrolled on ESP Gold.Ten (10) Passenger Configuration. Fresh 12 year Inspection

$6,150,000


1308 TT, 565 Landings, Enrolled on MSP, APU - HoneywellGTCP-150 S/N P-371, Time since New – 527 Hours,

$8,950,000


Gulfstream August 24/07/2012 14:49 Page 1

You can set a budget then shop for thework package that adheres to those numbers,or - as too often happens - establish plansand a work package before figuring out howto pay – or how much to pay. Consider thebest answer to be the one that renders you atyour most comfortable.

If budgets are tight, answering that ques-tion may require some juggling of the workpackage; dropping some ideas or swappingoriginal plans for lower-cost approaches.Those budget questions may work only ifyou spread out the work over a longer peri-od of time.

How should I pay for this work?This question is best answered in consultationwith the company CFO – or a company’sexternal accountant. Only by getting solidbids on the work package can an operator bereasonably sure of getting the best deal.

But that best deal may require accountingfor various tax laws at the local, state andnational governments. Tax breaks for invest-ing in business equipment have been quitegenerous in recent years, but some operatorseschewed those short-term breaks becauseretaining the long-term schedule did more forthe company’s bottom line.

Other elements to take into account hereinclude the age of the aircraft (finance institu-tions hesitate to underwrite loans for work onaircraft older than a set age); similarly, if anew aircraft is in your not-too-distant plans,you may decide you don’t want to spend asmuch as you would were you planning tokeep the airplane longer-term.

Of course, if the company coffers allowand the tax accountant blesses, paying cashfor a refurbishment job eliminates a possiblesticking point with the local banker. Don’t dis-count the prospect of a shop helping with itsown finance plan either, though.

DURING THE REFURBHow will the work package be accom-plished?As a general rule, interior and paint come lastin any refurbishment or overhaul situation –after all, it’s better to avoid collateral damagefrom work being performed on other parts ofthe plane.

The larger the project the more of the air-plane needs to come apart; for a tip-to-tailmakeover the interior can come out at aboutthe same time as the panel, with work on thepanel completed before the cabin refurb workbegins; in some large shops separate crewsmay tackle the cockpit and cabin in parallel.Otherwise, the shop in charge would likelystart up front and tackle disassembling thepanel at the same time staff on the floor pre-pare as much as they can to paint.

The main contractor may, depending on

“its size, scope and certifications, handle allthe work or contract out packages to othershops. For the aircraft owner, knowing thedetails of who works on what should be con-sidered a must – giving the owner some-where other than merely a starting point ifproblems arise after the job.

How should the airplane be insured whendown for a major work package?No one wants to spend money unnecessarily;continuing to carry full coverage on the com-pany airplane when it won’t fly for weeks ormonths is not necessary, according to theinsurance underwriters. Changing the policyto a ground-only or non-movement policycan save the owner significant amounts ofmoney.

This is also a good place to urge ownersconsidering a refurbishment project to get inwriting how the airplane will be coveredwhen in the possession of the shop.

Damage to whatever degree is never wel-come; they become supremely frustratingwhen suffered at the hands of a vendorcharged with improving the aircraft. Sobeyond avoiding the expenditure of moneyunnecessarily, make sure the shop has yourairplane adequately covered when it’s intheir possession.

Case law from past court decisions put torest the question of who is liable when theowner surrenders the airplane into the careof an FBO, maintenance or overhaul shop. Besure you’ve got the knowledge covered.

How will the acceptance process work?Once the work is done the owner (or owner’screw) needs to know how all the new equip-ment works, about the warranties, therequired service intervals and a host of othersalient points. Before retrieving the airplanefrom the shop the owner should insist on anacceptance flight that demonstrates the


“Don’t discount the prospect of a shop helpingwith its own finance plan either, though”.

▲


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workings of all new equipment. This is notime to fly away without a complete, detailedbriefing by the shop’s experts, accompaniedby the transfer of manuals, handbooks, checklists, operating manuals and the like.

Avionics are a natural for this sort ofpaperwork – and training on the new avion-ics hardware, knowing and understandingdatabase-update cycles and the like must bea part of the discussion before the job starts.Ditto for any engine upgrades – the crew willneed the information on starting and operat-ing, any limitations, maintenance intervalsand fuel use.

Finally, warranty information on the newequipment should be transferred to the owner,along with all information about any upcom-ing mandatory service items that, absent theircompletion, might invalidate the warranty.

APRÈS-REFURBWill there be any limits or constraints onhow we use the airplane immediately afterwe retrieve it?Turbine engines don’t usually have break-incycles on par with reciprocating mills; avion-ics systems generally work (although maybewith a squawk here and there); and interiorsare ready the instant the refitters finish.

There may, however, be some limits onthe exposure of the paint to the atmosphereand atmospheric conditions until the painthas sufficiently cured and been washed andwaxed at least once. Aside from such a con-straint, the airplane should be ready to fly atyour discretion once you accept it back fromthe shop.

With so many new items in the airplane,what training should I consider a ‘must’?The crew should certainly learn and practiceusing any new avionics before flying the bossanywhere – as well as the engines and othersystems…including any in-flight officeequipment like airborne internet and phoneservice.

The last place in the world a pilot wouldwant to learn the intricacies of new cockpitelectronics is in the cockpit of the airplane in-flight. Park it in a cool, shaded hangar, plugin a ground power unit, fire up the stack andgo to work with the manuals.

If new engines are installed, take the timeto study all the new parameters, to programthe flight computers for new speeds and fuelconsumption rates, and any new operatingdata including weights, speeds, altitudelimitations and range.

What should I do about any minor squawksthat don’t immediately surface?If the acceptance flight is akin to the walk-around before a new owner takes possessionof a house or business, the follow-up on little

irritations or major failures should be per-formed on a cycle that assures you are stillunder warranty.

Unless a problem or issue threatens youraccess or use of the airplane or creates a safe-ty issue, consider building a “tick list” of thenon-threatening irritations to present to theshop at the appropriate time. Sticking draw-ers, balky lights, irregularly functioning elec-tronics (IFE, in-flight office, etc.) can be dealtwith at the same time. Other issues, such asavionics difficulties or powerplant problemsfall into a different category and should bedealt with at the earliest safe opportunity.

Be prepared for the possibility that issueswith equipment not directly handled by theprime contractor may take some extra callsand effort on the part of you or the primecontractor.

FINALLY…Keep regular tabs on the updates andchanges - how well they hold up and howthey perform long-term - for when the dayarrives that you want to again consider sucha project.

And don’t neglect to provide plenty offeedback to the vendor(s) who provided thegoods and performed the services.

If they did a great job you may want touse them again – and ask for a discount as arepeat customer. If things didn’t go complete-ly smoothly, still offer your feedback as this ishow a worthwhile vendor will seek to learnto improve.

Enjoy the fruits of your decisions, andmake good use of your newly improved busi-ness tool by putting them to work as fre-quently as possible. ■


General Aviation August 24/07/2012 14:39 Page 1

ost people faced with a refurbish-ment project start by consultingwith their Director ofMaintenance, the industry

experts, the facility that will be doing therefurbishment, and of course their account-ant to get approval for this expense. Workingtogether with this team, an interior design iscreated and a budget is set for the entireproject.

All the materials, fasteners and equip-ment are then ordered and the aircraft movesinto the hands of the crew that is going tomake the interior look like a new airplaneinside… at which point you can start to feellike you can relax and simply look forwardto making that first trip with the new interi-or that has that new cabin smell.

The question is, are you ready for thenumerous surprises that can suddenly accu-mulate and raise their costly and time-con-suming heads along the way? The followingare just some of the surprises that may occurduring a typical interior project and can cer-tainly play havoc with any budget.


Plane Sen

se on

Refurb

ishm

ents

Surprises that can impact your cabin

refurbishment budget.

by Steve Watkins

Refurbishment‘Gotchas’

M

Plane Sense 2 June_FinanceNov 24/07/2012 12:17 Page 1

■

SURPRISE #1As the aircraft is prepared for the new interi-or and equipment, the old one has to beremoved. The surprises could start here.

The shop could find the floor panel screwheads stripped out or maybe the nut platesthat the screws go into have come loose andstart to spin with the screw adding extralabor, extra parts and extra time to removethe interior.

SURPRISE #2Another surprise sometimes discoveredwhen removing the old interior is that thebrackets could be broken or cracked wherethe interior is attached and need to bereplaced. This may sound like only a minorproblem that simply requires going to theIllustrated Parts Catalog (IPC) and orderingthe new parts at only the added cost of theparts. But what happens if the parts manualis reviewed and the required brackets are notlisted in the IPC at all?

A subsequent call to the manufacturer ofthe aircraft could indicate that these partswere made, but never classified as a part forthe aircraft and consequently are not in theIPC. There is no inventory to be found andthe manufacturer will not start-up produc-tion just to provide you with this part.

So now what happens? The companydoing the refurbishment has to design, getapproval for, and make the part(s) fromscratch, potentially adding all of the laborcosts to your bottom line that was not in theoriginal budget.

SURPRISE #3Many times a refurbishment design includesrelocating the lavatory to another area of theaircraft. The relocation design should be sim-ple enough, but at some point, an avionics orcabin entertainment black box could havebeen installed and maybe not accounted for.This unit must be moved now to accommo-date the new lavatory location.

In addition, as the removal of the lavatorycontinues, it is common to find corrosion.Depending on the extent, it may be enoughto require actual replacement of bulkheads,brackets and other structures.

The corrosion that is not bad enough tocause replacement still has to be removedand treated. Anything that is questionablemay require an OEM’s Engineers or aDesignated Engineer to design and approvea repair. All of this could be an additionalcost if unplanned for, and require moredown time to resolve and repair the issue.

SURPRISE #4The refurbishment facility usually orders thematerial for the seats when the quote issigned – but what if the material arrives in

the wrong color? The designer may insist onthe original color that was selected, but itmay no longer be available in the exact samematerial that was originally selected.

The choice of procuring the new material,due to different fireproofing requirements,may come with a substantial increase in per-yard cost. This is one more surprise that wasnot budgeted for, and you would be left withthe decision to change colors to contain costsor pay the extra charge.

SURPRISE #5The refurbishment project can continue tounearth little discrepancies throughout theprocess, each and every one requiring addi-tional labor, additional parts, and possiblyextending the aircraft’s down-time. Theseextra expenses will most likely exceed yourbudget.

Moving towards the end of the refurbish-ment project, the facility will complete all ofthe paperwork and submit it to the appropri-ate authority for approval. You’ve guessedit…this is another area that can be full ofsurprises….

The data being used may not be complete;the fireproofing or the fire-blocking paper-work could be missing a page; or the electri-cal diagram could differ from what was actu-ally done in the aircraft. All of these issuesrequire more problem-solving, time andadditional delays for the completion. Theshop may not charge the customer extra forthese paperwork issues, but the regulatingagencies in aviation are not known for beingespecially sensitive to turn-times, so expectadditional delays to result.

SURPRISE #6Finally you reach the point at which every-thing is completed and the interior looks justlike it did in the design pictures! The func-tional checks and test flights are all that isleft to do.

During a final test flight, a red failurecode could suddenly appear on the panel ormaybe on the cold soak flight, another failurecode shows up, or something stops working.Troubleshooting will be required to find theproblem and if the facility is a completionshop only, they might have to bring in expe-rienced mechanics from another maintenanceshop to find and fix the problem.

More surprises usually mean moreexpenses, and then there is the unpleasanttask of informing the boss of another delaywith the launch date.

REDUCING THE SURPRISESFortunately, there are several ways to mini-mize all of these potential surprises that canhappen during an aircraft refurbishment.

The first is to make sure that you contract

a highly regarded industry consultant thatwill help navigate through all of the“gotchas” that can happen during a complexinterior project.

In addition, make sure you work with afacility that is very familiar with your aircraftmake and model, and then do your researchby asking other colleagues for shopreferences and referrals.

The bottom line is that when you takeyour aircraft in for a new interior and equip-ment, all quotes include the following state-ment: “This is an estimated quote only, addition-al charges may be required.” Just make sureyou have room in your refurbishment budgetfor all of the SURPRISES that can occur!

� Steve Watkins isTechnical ServicesManager, WesternRegion for Jet SupportServices, Inc. (JSSI).Steve has been anA&P mechanic, IA andPrivate Pilot for over35 years and was aDesignated MechanicsExaminer in Wichita,KS and Long Beach, CA. He has also spent time asDirector of Maintenance and Chief Inspector for var-ious FAR 135 and FAR 145 operations, owned hisown maintenance shop as well as instructed at anA&P technical school and is an active member of theAMT Society. � Contact Steve at: [email protected]

“The refurbishment

project can continue

to unearth littlediscrepancies throughout

the process, each and

every one requiringadditional labor,additional parts, and

possibly extending the

aircraft’s down-time.”


Plane Sense 2 June_FinanceNov 24/07/2012 12:18 Page 2

everal years ago, iconic manu-facturer Learjet was buildingits brand with advertising thatincluded a tag line “Nothingelse comes close”. The image

was often of a high-performing fighter-jettype aircraft, climbing smartly into the sky,leaving all others - and the distant Earthitself - well behind and below.

In many ways, the tag line describes oneof the essential customer benefits of BusinessAviation. For the most time-pressed entre-preneurs, business and government leaders,and people of means, there is no better wayto fly. Intercontinental flights between mainbusiness centers are well served by commer-cial airlines - carriers are the rational modeof transport, even for ultra-high-net-worthindividuals (UHNWI).

David Leppan, Chairman of Wealth-Xand himself an UHNWI, recently describedthe costs of flying privately from the U.S. toSingapore as “eye watering”. For point-to-point travel with a team of executives, orwith family members, including children, the

Nothing Else Comes Close by Rolland Vincent


elderly, and of course the family pet, the con-venience and time-saving benefits of flyingprivately simply cannot be matched.

Leppan, who leads a global market intelli-gence service focused on UHNWIs and theirprivately held companies, describes himselfas “terribly impatient”. For him, the conven-ience and experience of NetJets Europe forintra-European and North African missionsis worthy of storytelling.

WHERE ARE WE, CAPTAIN?As an industry, Business Aviation was clearlyon a Learjet-style climb-out trajectory wellthrough 2007 and into 2008. In late 2008 andearly 2009, the aircraft had a hard landingreminiscent of the days before trailing linklanding gear. Since then, conditions throughmid-2012 remain decidedly mixed.

Fully 50% of business aircraft owners andoperators who responded to JETNET iQ’s Q22012 Global Business Aviation Survey indi-cate that conditions are at the low point inthe current business cycle. Those who thinkthe industry is on the way back up are about

evenly matched with those who think adecline continues (as above chart indicates).

In late 2007 and into 2008, it is clear thatmany people did not see the downturn com-ing, and most were certainly unprepared forthe severity of the industry’s decline. Withthe exception of Europe, though, we wouldargue that many will likewise not see theupturn coming (and the good deals goingaway) until the trend is well underway.

Many regions of the world are alreadyexperiencing improvements in BusinessAviation’s business conditions. Most notably,the situation in the U.S. bears close watch, asthe pressure builds to replace aging fleetswith the latest, greatest technology. Fully36% of respondents to the Q2 2012 JETNETiQ Survey indicate that their organizationsdelayed or deferred their decision to buy anew business aircraft since 2008.

The correlation between corporate profitsand business jet deliveries (with deliveriestypically lagged 18-24 months due to orderbacklogs) has been strong and consistent formany years, evolving into almost a law of

S24 %

“Avia�on industry has not yet reached the low point in the current business cycle”

50 %

26 %

“ Avia�on industry is at the lowpoint in the current business cycle”

“Avia�on industry is passed the low point in the current business cycle”

Current Market Sen�ment

Q2 2012 Survey

NAVIGATING 360°

Source: JETNET iQ

❯

RollieVincent_FinanceSept 23/07/2012 16:47 Page 1

2008 Gulfstream G200s/n 187 • VP-BPH

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1994 Lear 60s/n 27 • N271SC

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• Located in Ft. Lauderdale, FL

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Aircraft Brokerage

Aircraft Acquisitions

Aircraft Sales

Parts Sales

Excess Inventory/Surplus Sales

MRO Services

Southern Cross AviationCharlotte, North Carolina

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Contact:

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Offi ce: +1 (704) 990 7090

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ALSO AVAILABLE:

1996 King Air C90B Blackhawk - 3,500

TT, 2,760 TC, 800/800 Since New - 135A

engines, Good Cosmetics & Pedigree

1981 King Air B200 - 6,900 TT, 5,700 TC,

1100 / 1100 SOH -42 engines, HF Gear,

Ram Air, Body Strakes, No Damage

1993 Learjet 35A, s/n 674 -7,480 TT,

Engines on MSP Gold, No Damage, 12 Year

Inspection c/w 2004. Motivated Owner.

Southern Cross August 24/07/2012 14:41 Page 1

physics in many aerospace analyst’s deck ofPowerPoint slides. This tight relationshipseems to have unravelled in recent years ascompanies replenish their cash holdings andbuild their cushions for the bumpy rides thatare always ahead.

We expect the industry to collectivelydeliver 735 new business jets valued at $19.7Billion in 2012, up 9% in units and 16% invalue YOY, respectively. That is healthygrowth by any measure. Other than at theentry level price points, order backlogs formany models are clearly on the rise. Dassaultreports that it now has about two years ofbacklog for the flagship Falcon 7X long-rangejet, and strong interest in the Falcon 2000S.

The Falcon 2000S could prove to be anaircraft of choice for U.S.-based flight depart-ments as their companies realize that it is nolonger economical to further delay their fleetrenewal. Order activity in the Falcon 900 isless impressive, no doubt reflecting the mar-ket’s bet that the long-awaited SMS model,expected to be announced in 2013, will infact be a twin-engine Falcon 900 replacement.

REACHING ANDPASSING THE BOTTOMBombardier’s recent tour de force in captur-ing massive NetJets fleet orders for theChallenger 300 and Challenger 605 (afterwinning the same in March 2011 for theGlobal family) is in itself an indication thatwe have reached - and probably passed - thebottom of the current market cycle. TheChallenger 300, perhaps the most successfulall-new business jet program ever developedby Bombardier, has had a long and healthyproduction run but is now due for a mid-lifeupgrade, possibly along the lines of theimprovements set out in the new NetJets“Signature Series” design.

With an additional NetJets fleet order for25 Citation Latitudes placed with Cessna,one of the primary challenges facing the suc-cessful OEMs will be to value, place intoinventory, and remarket flocks of high-timepre-owned jets to customers who haveshown little interest in aircraft of this age. Weunderstand that NetJets’ order deposits aretypically in the form of pre-owned aircraftrather than cash, suggesting that there willbe work to be done to move any of these air-craft at a profit. Let the Hunger Gamesbegin!

The OEMs have no doubt performed acomplex calculus to prove the businessrationale of these large transactions. On theone hand, the deals provide lower prices,higher trade-in values and slimmer marginsdue to block pricing of aircraft, spares andservices, and the need to inventory and re-market older aircraft; on the other hand, theOEMs benefit from lower costs in the form of

bills-of-material with block purchasing,lower production/interior design/engineer-ing/completion costs with standardization,as well as more buzz for the brand by serv-ing Mr. Buffet and the world’s largest fleet ofbusiness aircraft.

NetJets’ drive for fewer models fromfewer manufacturers makes good economicand business sense. In our experience, andmuch to the dismay of OEM marketers, wehave seen that some fractional and chartercustomers are rather brand-agnostic, prefer-ring the choice to be as simple as at a drive-through restaurant: Will that be Small,Medium, or Large…Would you like to‘Super-Size’ that with a Global 7000?

When it comes to economic clout, threeregional groupings together account for thevast majority of the world’s economic activi-ty and trade. These are: NAFTA (USA,Canada and Mexico), Europe, and the BRICS(Brazil, Russia, India, China, and SouthAfrica). Together, these nations account forabout 90% of worldwide business jet deliver-ies in a given year. NAFTA remains the “BigKahuna” of the three, representing about70% of the world market just 10-12 years ago,and about 55% today.

NAFTA countries sprang back from a lowpoint in 2010 to account for about 55% of theworld’s deliveries so far in 2012. We are quitebullish on NAFTA, and the USA in particu-lar, to lead the Business Aviation industryout of its deepest doldrums.

U.S. entrepreneurs and companies aregenerating solid profits and building theirstorehouses of cash. Although the large“Fortune 500” firms are looked to for newfactory orders, many are public companiesthat are laser-focused on increasing produc-tivity without adding assets or workers.Heaven knows they have the wherewithal,with margins of more than 7%, ROE of morethan 14%, and earnings up 16% in 2011 YOY.

Less visible on the radar screen are themany American small and medium-sizedenterprises (SMEs) who collectively own and

operate about 85% of the country’s businessjet fleet, according to NBAA-sponsoredresearch. Speaking at the recent 2012 JETNETiQ Summit in New York City, David Strauss,lead aerospace and defense analyst at UBSSecurities, noted that 70% of the 11-20 yearold jet fleet is based in North America, and isprime for replacement.

The leveraging of existing assets and peo-ple is a timeless strategy of corporate valuecreation. Every smart organization does it, attimes more than others. The Bible reminds usthat there is a time to reap, and a time to sow.

With aging fleets and aging workers(something like 40% of the aerospace work-force in the U.S. is scheduled to retire in thenext five years), it is only a matter of timebefore entrepreneurially-minded leadersinvest cash to earn more than marginalreturns on capital. In fact, we believe thatthis trend is already underway. Unlike thepeople who ride in them, older aircraftbecome less economical and less productivewith age.

Entrepreneurs and companies are natural-ly competitive, and we are confident thatthey will once again invest in the best toolsand technologies to keep themselves aheadof the pack. This is especially true as andwhen they feel the heat, and the joy, of com-petition. Build it, andthey will fly!❯ Rolland Vincent isPresident of RollandVincent Associates. Hehas more than 25 yearsof experience in business,regional and internationalaviation, including withBombardier, Cessna,Learjet, Flexjet and ICAO.With a background in market research, economicsand statistics, he has held senior leadership positionsin marketing, strategy, business development andconsulting. ❯ More information from www.rollandvincent.com


NAVIGATING 360°

■

RollieVincent_FinanceSept 23/07/2012 16:48 Page 2

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SAFETY MATTERS - MAN vs MACHINE

Man Versus Machine:Automation lessons for all of aviation. by Dave Higdon

ome years ago, working at amajor aviation event beset mewith a knee injury sufficient tocause a pronounced limp –particularly where maneuver-

ing up and down steps were concerned withthe most pronounced discomfort comingwith bending that knee.

Friends with genuine concern questionedme about my ability to fly myself home. Iassured them that the flying part would berelatively easy; that getting in and out of myairplane would be the toughest parts of theflight.

“Once you’re in and off the ground, youcan just punch up the auto pilot, right?”

Perfect, had the airplane been equippedthus, but essentially I had no auto pilot. Thesubsequent reactions frankly astonished me.“You don’t have an autopilot? How in theworld do you fly these long trips?”

If the prospect of a long trip withoutautopilot seems unimaginable to you, thencast your mind to the truly lengthy trips –the trips undertaken by a guy named

Lindbergh, for example, who traversed theNorth Atlantic to reach Le Bourget, Paris in33 hours, 30 minutes, 29.8 seconds aftertakeoff from New York’s Roosevelt Field.

When Charles Lindbergh landed he hadnot slept in 55 hours. He would haveundoubtedly loved an autopilot, manyexcellent types of which have come along inthe 85 years since that flight.

Somewhere along the way, and with theintroduction of increasingly sophisticatedmachinery, the aviation community has lostsomething in direct proportion to the levelof automation gained: That something ishand-flying skills.

Lest we forget that it’s hand-flying skillsthat serve as the final line of hope and safe-ty defense when aircraft automation fails.The pilot(s) perform the composite func-tions no primary flight display (PFD) ormultifunction display (MFD) can deliver –or any autopilot or flight management sys-tem (FMS) for that matter.

Worse still, the dependence on suchsophisticated computer-driven, software-

based instrumentation adds another risk intoday’s cockpit which, when combined withdeficient hand-flying skills and mental dex-terity (read ‘judgment’) leaves aircraft atdramatically higher risk of disaster.

We’ve seen hints of this in incidentreports to the Aviation Safety ReportingService of the National Aeronautics andSpace Administration (NASA) as well as inthe concrete examples of tragedies like thecrash of a Dash 8 de Havilland operating asColgan Flight 3407, February 12, 2009 at10:17 pm, and 14 weeks later the loss of AirFrance 447 on June 1, 2009.

One domestic turboprop flight; onetranscontinental wide-body jet flight; twoinstances of challenging weather, individualautomation and instrument-systems issues,and – ultimately - failure to resolve theseproblems.

One other common denominator waspresent in both tragedies: In neither casecould the flight crew (each professionallytrained to industry and safety-agency stan-dards), hand-fly the aircraft. In both

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instances the inability to fly by hand andknow how to react to those cockpit-systemsproblems resulted in both aircraft descend-ing uncontrollably and crashing. The com-bined loss of life: 278.

Safety authorities and investigative agen-cies have been discussing these issues foryears, so far with no discernible progress.But pilots need not wait to receive the train-ing they need to survive similar challenges.They should be proactive, and work ondesigning their own training to augmentthat institutionalized training which theyalready receive.

Such training starts with the simple real-ization that automation comes at a cost (putdifferently, it contributes to atrophy in ourmental and physical flight muscles). It con-tinues with two new approaches to aug-ment recurrent training requirements andstudy areas. It ends with the pilot trained torecognize, act on and recover from attitudesand situations where no sane air-transportpilot would ever entertain deliberatelyflying.

IDENTIFYING THE PROBLEMThe recommendations and findings of a2010 NTSB safety study point up two dis-parate issues, issues which came into playin the Colgan and Air France accidents:

• First, in both accidents the flight crews’ reduced skills at hand-flying highly automated aircraft in unusual circumstances and

• Of particular salience to the Air France accident, the multiple, complex and complicated challenges flight crews faceduring multiple systems failures in totally electronic, highly-automated cockpits.

When Air France 447 flew into “don’t-go-there” weather on June 1, 2009, iced-overpitot sensors precipitated a series of cascad-ing failures that rapidly deteriorated.Unable to troubleshoot their multiple prob-lems and failing to decipher obscure failurecodes from the EFIS computers the crewflew the jet into, and held, a full-blown stall.As a result, the Airbus A330 fell more than30,000 feet in a few short minutes untilsmacking onto the surface of the AtlanticOcean in a largely level attitude.

In the Colgan accident the pilot failed torecognize what instruments and the stick-pusher of his de Havilland Dash 8 Q400was telling him as he, too, held the aircraftat full-stall attitude as it rolled out of con-trol and plunged into the New Yorkcountryside.

The common indictments of deterioratedhand-flying skills and the associated

subtleties combined with the complexityand variety of systems to confound thepilots into aggressively violating the verybasics of introductory flight instruction:When in a stall, push the nose down – don’thold it up.

SEEKING IMPROVEMENTS…Manufacturers, operators, the FAA and theNTSB all have been active in working tocounter what one would expect to be a con-tinuing deterioration of human/mechanicalflight skills through a variety of initiatives.In August 2010 the National TransportationSafety Board updated the NTSB Part 830requirement for the reporting of accidentsand incidents to include the followingevents affecting aircraft weighing more than12,500 pounds:

• A complete loss of information, exclud-ing flickering, from more than 50 percent ofan aircraft's cockpit displays known as:- Electronic Flight Instrument System (EFIS)

displays or;- Engine Indication and Crew Alerting

System (EICAS) displays or;- Electronic Centralized Aircraft Monitor

(ECAM) displays; or- Other displays of this type, which

generally include a primary flight display (PFD), primary navigation display (PND), and other integrated displays.

If you think for a moment, you’ll recog-nize the wisdom of this since today virtuallyno new business-turbine aircraft comes to theowner with analog panels. Today everythingin the cockpit works off digital software run-ning on cockpit processors and driven byvarious solid-state sensors. Even the simpleVHF communications radios are digitallytuned with electronic frequency displays.

In 2010 the board also published a safetystudy titled, ‘Introduction of Glass CockpitAvionics into Light Aircraft’, noting thefollowing:

• Pilots must be able to demonstrate a minimum knowledge of primary aircraftflight instruments and displays in order to be prepared to safely operate aircraft equipped with those systems, which is necessary for all aircraft but is not currently addressed by Federal AviationAdministration knowledge tests for glass cockpit displays.

• Pilots are not always provided all of the information necessary to adequately understand the unique operational and functional details of the primary flight instruments in their airplanes.

• Generalized guidance and training are no longer sufficient to prepare pilots to safely operate glass cockpit avionics; effective pilot instruction and evaluationmust be tailored to specific equipment.


SAFETY MATTERS -MAN vs MACHINE


As a result of this safety study, the NTSBmade a number of recommendations to theFAA, among them these five:

• Revise airman knowledge tests to include questions regarding electronic flight and navigation displays, includingnormal operations, limitations, and the interpretation of malfunctions and aircraft attitudes (A-10-36).

• Require all manufacturers of certified electronic primary flight displays to include information in their approved aircraft flight manual and pilot’s operating handbook supplements regarding abnormal equipment opera-tion or malfunction due to subsystem and input malfunctions, including - but not limited to - pitot and/or static sys-tem blockages, magnetic sensor mal-functions and attitude-heading referencesystem alignment failures (A-10-37).

• Incorporate training elements regarding electronic primary flight displays into your training materials and aeronauticalknowledge requirements for all pilots (A-10-38).

• Incorporate training elements regarding electronic primary flight displays into your initial and recurrent flight profi-ciency requirements for pilots of 14 Code of Regulations Part 23 certified aircraft equipped with those systems

that address variations in equipment design and operation of such displays (A-10-39).

• Develop and publish guidance for the use of equipment-specific electronic avionics display simulators and proce-dural trainers that do not meet the definition of flight simulation training devices prescribed in 14 Code of FederalRegulations Part 60 to support equip-ment-specific pilot training require-ments. (A-10-40)

COUNTERING COCKPIT SYSTEM CRASHESMore than any other element of worry is thecommunity concern about atrophied flyingskills. One retired airline pilot asked merecently, “Why couldn’t the 447 crew recog-nize their situation and just do what theylearned in their initial training – push thenose down and add power to exit a stall?”Why, indeed…?

Active air-carrier pilots note a couple ofissues: First, in the event of a stall at altitudetoday’s standard-operating procedure teach-es the pilot to raise the nose and add fullpower to climb out of the stall with minimalloss of altitude. One problem surfacesimmediately with this approach, safetyexperts caution: residual engine power athigh altitude may be insufficient to affect aclimb at an excessively high angle of attack.

“That high angle of attack works againstrecovery… you’re miles away from terrain,take the altitude loss and push the nosedown,” the active pilot and check-airmanadvised. “Being mindful of over-speeding theaircraft, this produces the quickest results.”

And when the aircraft departs wings-levelflight? “That’s when some aerobatic experi-ence is lifesaving.”

And that’s the growing consensus amongsafety authorities: spending some of a com-mand pilot’s recurrent training session in (a)a real airplane (versus a simulator), and (b)focus mostly on teaching the pilot how to exitunusual attitudes – safely, with minimal alti-tude loss, and no airframe-threatening excessspeed.

No existing simulators - not even the high-ly realistic Level D systems - can suitablymimic the forces, control inputs and recoverysteps of aerobatic flight. Recovering from aspin, for example, can be closely approximat-ed, but not inverted flight. Few pilots instinc-tively know that when upside down, pushingforward on the yoke results in a climb – theexact opposite of upright flight; fewer can beexpected to instinctively recover safely whenpresented with the situation…unless they’vebeen exposed to the real thing and trained tothink backward.

Pulling back while inverted serves only topitch the aircraft straight toward the ground.Even the rudder’s actions change wheninverted. Roll, thankfully, remains as always,taking you in the direction of input.

The point is that by returning actual flightin real aircraft to recurrent training, the pilotgets renewed exposure to some of the basicsnot often covered in sim programs and totrain for situations the sim can’t prepare thepilot to face. It’s flight training any pilot canacquire at their own pace for their ownedification.

THE BIGGER CHALLENGEBut the bigger challenge remains untouchedby the move back to aircraft-based training:knowing EFIS systems so well, and trou-bleshooting them so quickly as to preclude afailure occurring that the crew doesn’t under-stand.

Training for these issues means movingdeeper into how the computers work, howsystems fail, identifying sensor failures versusdisplay failures – and how to quickly moveinto back-up mode.

As Air France 447 tragically demonstrates,even 35,000 feet of air is too little when theaircraft is out of control and falling at morethan 10,000 feet a minute. Time will alwaysbe the critical factor, and the best way to givethe crew the time needed is to first be able toidentify aircraft attitude – and keep it uprightand in level flight.

Advertising Enquiries see Page 8 www.AvBuyer.com WORLD AIRCRAFT SALES MAGAZINE – August 2012 119

SAFETY MATTERS -MAN vs MACHINE



Profits soar,equities grow -but aircraft salesare comparativelysluggish.by Dave Higdon

usiness Climate - warm;Profits - hot; Cash Accounts -overstuffed; Business AircraftSales – soggy… still...! Whatcan an observer say to this?

The Wall Street profit reports bear littlebad news, and only the occasional report ofmerely disappointing margins. Profits inmost industries and most businesses arestrong financially-speaking. Businesses holdrecord amounts of uncommitted cash – asmuch as $3 trillion by many accounts. Stockprices remain strong – in a roller-coastersort of way and largely unrelated to actualAmerican economic conditions.

Private-sector jobs (the type business air-

craft operators create) are growing onlyslowly, however. Meanwhile, losses of local,state and some federal public-sector jobs actas a drag on employment numbers. The netgame: jobs growth remains tepid.

With consumer spending the main driv-ing force of the U.S. economy, growth con-tinues to largely reflect the majority popula-tion’s spending power. The same goes forbusinesses which once turned over theirbusiness jets on cycles of seven years or less.We are now four years into BusinessAviation’s own peculiar downturn andmany a company has decided to make dowith what they’re flying – to refurbish,upgrade or trade-up to something larger,

What is Normal ?

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B

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but pre-owned. Signs point toward somepositive years ahead for Business Aviation,but those expecting to see the return of any-thing like the 2002-2007 jet boom will bewaiting a while. According to aviation ana-lyst Brian Foley, what we see – what we’vegot – looks like it may well be the “newnormal.”

The historical “five-year cycles” of thepast seem inapplicable to this particularseismic event in aviation. Foley said hebelieves that for the most part, the safestmindset for General Aviation companies isto view the current situation as the ‘newnormal’ and adapt accordingly.

“The pessimist in me says we’ll be insomething of a steady-state situation for theforeseeable future, with occasional setbacksbalanced out by spots of growth. And theoptimist in me says that companies gearedto live through these hard times will invari-ably have the edge when the recession’sover,” he outlined.

Meanwhile, the market of today operateswith a level of elasticity somewhat differentto past decades.

India and to a larger extent China bothcommand more market attention andabsorb more new aircraft than a decade ago– but far less than they will a decade or twofrom now; these markets provide somecushion against the cycles of Europe, Northand South America. But China and, to alesser extent, India also appear poised toplunge heavily into manufacturing, air-

frames and engines, while pursuing domes-tic policies geared to increase the numberand utility of airports, the number of air-craft in use and the population of peopleengaged in their manufacture, sales,operation and maintenance.

There’s even some expectation thatChina will begin to more greatly influencethe pre-owned market as the nation meetsits goals for expanding airport numbers andairways access. “Those planes won’t all benew or even mostly new as China’s expan-sion peaks,” observed one international bro-ker working to bring together buyers inAsia and sellers in North America. “It’s theplayers that are new.”

Here’s how things break down accordingto a sampling of brokers, dealers, charterplayers and, of course, an analyst or two.

SIGNS ABOUNDCompared with the midpoint of 2011,Business Aviation activity shows some solid,albeit timid, signs of recovery. For example,charter indexes compared to mid-2011 lookgood. Businesses reporting use of their ownaircraft also seem to be flying slightly more.Signs seem to also point toward a contin-ued, slow, decline in the available fleet ofaircraft on the pre-owned ‘for sale’ market.

Retail orders of new business-turbine air-craft remain far below peak levels whileshowing some tepid signs of recovery. Thisobservation along with various researcherstatements generally discount as a sign of

recovery the huge order placed recently byfractional-program operator NetJets. “Thesedeliveries are spaced out over the nextdecade so there’s no quick benefit, andthey're principally intended to replace (asopposed to grow) existing fleet aircraft aver-aging some seven years in age,” Foleynoted.

Pre-owned sales remain far off the hyper-state of 2006/2007, but are better than atany time since 2009 (from the perspective ofa regional selection of dealers and brokers).

“Good as they are, they’re a relativething,” cautioned a West Coast brokeralready dealing with an increase in interest-ed Asian prospects. “Sales today beat thoseof three years ago hands down, but they’reshort, still, of levels that make paying thebills a given. We’re not so much hand-to-mouth as quarter-to-quarter – it feels a lotbetter with six or nine months of operatingreserves.”

The pool of available aircraft shrank a bitmore in recent months, in part due to air-planes coming off the market – some ofwhich can’t sell outside of a cash deal.

“There are nice pieces of flying machin-ery out there, fairly modern, imminentlyviable with a little upgrade work…andwholly beyond any chance of normalfinancing,” our West Coast broker added.“For the operator who doesn’t mind – andwho can pay cash for the airplane, the nec-essary upgrading shouldn’t be prohibitiveand can be financed in other ways.”


NEWER CHALLENGERS, FALCONS, GLOBALS (PICTURED) AND GULFSTREAMS REMAIN IN DEMAND


An East Coast dealer noted, “Good tur-boprops are scarcer than a couple of yearsago, thankfully - and even light jets aremoving better. But they only move well ifthey’re under 12 years of age… 12 to 15years is gray in the eyes of some financeinstitutions; 10 is viable; and over-15 yearswill leave you looking for alternative funds,or placing a big down payment… perhaps40-50 percent.”

BIGGEST SELLERS“You wouldn’t have any friends interestedin parting with their late-model Gulfstream,Challenger, Global or Falcon…would you?”[Well, given that few of my circle actuallyown the airplanes they use on the job, no -but they are out there, according to a brokerfrom the Southeast, specializing in large-cabin hardware.]

“My own business focuses on only twoof those, but a couple of friends handle theothers…there’s a spiff in it if you refersomeone…”

The underlying message: stock of thoseaircraft is not plentiful – and what is avail-able commands good pricing. “Once toooften the airplane sells without ever becom-

ing ‘available’ to the market,” the brokerlamented.

“Just let me know if you so much as hearof the owner of a late-model Gulfstream,Challenger, Global or Falcon even kickingtires on something new. Somewhere down-stream an airplane will come up for sale,”the broker explained. “I like to land them asclients while they’re still shopping. Evenwhen they have a broker helping them lookfor the replacement airplane we can behelping them get a better deal on the

departing jet if we’re on our game.”Still the toughest to move: light and

medium hardware vintage 1995 and older(the hardest of all, pre-1990). “Who wouldhave ever thought that the airplanes thatsaw the dawn of EFIS panels would seetheir own sunset because of loan restric-tions,” mused the West Coast broker.

“I bet that today’s hot airplanes stayaround as long as those from 25 yearsago…it’s that much better… Of course, youmay need help getting financing onthem…unless that angle improves by then.”

Given the trillions of dollars tied up incorporate cash accounts, and the availabilityof money at record-low interest rates thatrestriction remains somewhat inexplicableand frustrating. It probably will continue tobe for another decade, say the consensus ofdealers and brokers sampled.

“From here on, competition means some-thing all-new, and largely from overseas,where the money comes from,” concludedour East Coast Broker.

❯ Do you have any questions or opinions on theabove topic? Get them answered/published in WorldAircraft Sales Magazine. Email feedback to: [email protected]


Who would have ever thought that theairplanes that saw thedawn of EFIS panelswould see their ownsunset because of loan restrictions.

- West Coast Broker


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August 2012


s record high temperatures werebeing set around the UnitedStates and London prepares toopen the summer Olympics, itappears that we have made it

half way through 2012. And yes, as we standat the midway point, we are seeing signs ofindustry recovery; ever such slow recovery,but positive signs nonetheless.

The biggest sign came from NetJets whorecently placed the largest business aircraftorder on record, tallying 425 mid-range andlong-range aircraft orders and options. Thiswas a boost in confidence for Bombardier andCessna, with the order’s total value exceeding$9.5 billion.

In addition, recent optimistic forecastsfrom the Teal Group, JETNET iQ, andBombardier indicate that we should be seeingmore aircraft orders and improved signs ofrecovery in the months ahead. But along withthe heat and humidity in the US, the sum-mer’s reality sets in when looking at the limit-ed financing options that seem to be a stickingpoint for the $1m-10m aircraft loans, accord-ing to Corporate Jet Investor editor, AlasdairWhyte.

In this month’s JETNET >>KNOW MORE,we will take a look at where we are so far in2012, and investigate just how warm theBusiness Aviation market is getting while itmakes its slow and steady recovery.

BUSINESS JETS ‘FOR SALE’The number of business jets for sale has aver-aged just over 2,500 from January to June2012. The current percentage for sale is at13.5% for June 2012. In a comparison of the

number of business jets for sale, the years2009 to 2012 (4 year average of 2,640) showan average of 915 more than from the years2005 to 2008 (1,725), as shown in Chart A(above).

The Recovery ContinuesThe lazy, hazy days of Summer 2012 for Business Aviation.

by Michael Chase & Marj Rose


JETNET >>KNOW MORE

A

THE CALLENGER 300, WHICH FORMED A LARGE PORTION OF NETJETS’ RECENT RECORD ORDER

Months of June 2005 to June 2012

Source: JETNET; Analysis & Presentation Chase & Associates

4 yr. avg. 1,725

4 yr. avg. 2,640

CHART A - PRE-OWNED BUSINESS JETFOR SALE VS. PERCENTAGE FOR SALE

❯

JetNet August12_PAMA interview November06 23/07/2012 17:01 Page 1

CIBAS August 25/07/2012 14:35 Page 1


JETNET >>KNOW MORE

FRACTIONAL MARKETThere are 917 fractional aircraft in operationwith an average age of 8.2 years, according toJETNET fractional reports. NetJets’ averageaircraft age is 8.6 years as shown in Table A(above). So the recent record order by NetJetswill bring down that average age and presentopportunities as well as challenges to the pre-

owned market inventories in the future.Taking a closer look at the fractional mar-

ket, Table B (above) shows the number ofnew and used business jet deliveries into thefractional industry before and since the eco-nomic melt-down. The number of new aircraftdeliveries averaged 123 per year prior, andjust 22 since.

The year 2003 was another period ofdownturn and the fractional market ‘New’deliveries dipped below the 100 unit mark. Ofcourse, this was just a minor blip when com-pared to recent events.

Table B illustrates that until the recentNetJet order was announced, the fractionalmarket has been very quiet.

FRACTIONAL MARKET SHAREPERCENTAGEChart B (bottom left) shows the fractionalmarket share percentage based on the numberof companies in the fractional programs.Clearly, NetJets is the market leader and it hascontinued to increase its market share from48% in February 2005 to 62% in January 2012.This improvement in share has come about inspite of the general economic decline and(more specifically) a loss in the number ofcompanies that dropped out of the fractionalmarket.

The fractional market peaked at 4,650 com-panies in January 2007 and has steadilydecreased to 3,788 companies in January 2012- a reduction of 862 companies spreadbetween four fractional providers. (Thesenumbers are for the U.S. only and do notinclude companies that have purchasedfractional cards.)

Other than NetJets, of the three remainingfractional providers Bombardier Flexjet hascaptured 14% market share, followed closelyby Flight Options (13%) and CitationAir (11%)as of January 2012.

Looking to the future, several questionsabout the fractional market come to mind.

• Will the fractional market continue to decline?

• Will the large business jet order from NetJets be replacement, growth or both?

• Will NetJets’ competitors place new orders too?

• What impact will these replacement aircraft have on the pre-owned market that is already fully loaded with inventory‘for sale’?

• What will happen to an already depressedpre-owned market in terms of pricing andfuture business jet value?

As you can see, there are lots ofunanswered questions at this time !

FLIGHT ACTIVITY The good news reported by ARGUS in Junewas that the aircraft charter market posted itsfirst increase in activity in more than a yearduring May 2012. Flight activity increased 3.5percent overall from April 2012. Looking atthe various categories, Part 135 charter activi-ty rose by 5.3 percent in May, while Part 91activity rose by 3.9 percent.

FRACTIONAL PROVIDERS’ BUSINESS JET FLEETS Provider

# of Aircraft Average

Aircraft Age NetJets 375 8.6 yrs NetJets Europe 133 6.4Flight Options 74 10.1Flexjet 69 5.7Citation Air 40 6.9Others 226 n/cTotal 917 8.2

Source: JETNET

FRACTIONAL AIRCRAFT DELIVERY CYCLES Pre-Economic Downturn Recovery Period

Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Total %New 111 82 108 139 137 142 142 31 20 16 928 91%Used 7 7 13 22 14 13 6 1 7 5 95 9%

Source: JETNET; Chase & Associates

TABLE A

Mar

ket S

hare

Per

cent

age

Net Jets

Flight Options

Flexjet

CitationAir

Source: JETNET Fractional Reports

Number of Companies in Fractional Programs

TABLE B

CHART B - FRACTIONAL MARKET SHARE PERCENTAGEBASED ON NUMBER OF COMPANIES IN FRACTIONAL PROGRAMS

2005 TO 2012

❯


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Available for Salevisit heliasset.com

for full inventory

Heliasset_FullPage-205x270_print.pdf 1 16/01/12 16:31

JETNET >>KNOW MORE

This sign of recovery was followed byARGUS’s TRAQPak data showing that June2012 business aircraft flight activity actuallydecreased 3.2% from May 2012. Looking atindividual market segments, the month wasnot all negative with large-cabin fractionalactivity posting a 3.3% month-over-monthincrease. When comparing June 2012 activityto June 2011, TRAQPak also reported an over-all decrease of 1.3% in flight activity. Twowords come to mind here – ‘Slow Recovery’!

FUEL PRICEThe great news is that fuel prices are down7% (50 cents per gallon of Jet-A fuel) sinceApril 2012.

The latest period reported by GlobalAirshows the price of Jet-A fuel is at $6.38 pergallon. June 2008 was the record month forJet-A when the price reached $7.11 per gallon.Chart C (right) reports Jet-A prices on a quar-terly basis, thus it does not represent June2008’s peak Jet A price of $7.18 (insteadreflecting an averaged-out quarterly peak of$6.83), and it does not yet reflect the decline to$6.38 per gallon, but it is coming!

What is interesting is to look at the twoperiods of time when the fuel price peaked.The earlier one was shorter lived (Fuel Bubble#1) compared to the recent one (Fuel Bubble#2) that has slowly increased to nearly thesame record level and will now start todecline as we report the 3Q 2012 in a futurearticle. The question will be whether thisdecline becomes long-lasting or not.

SUMMARYThe year 2012 is only half way through, andmost of the trends show recovery. It is com-forting to learn about the decline of fuel pricesand to finally see new aircraft orders from thelargest fractional provider. While not reportedin this article, toward the end of July the USBureau of Economic Analysis (BEA) wasscheduled to report the first estimate of theUS Gross Domestic Product (GDP) for the 2Q2012.

During June the BEA reported the 1Q 2012

GDP results at 1.9%. We are hopeful that the2Q 2012 results are much improved over the1Q results. As has been reported in previousarticles, a 3.0%-or-greater level of GDP growthis the percentage level of economic growth atwhich Business Aviation has shown strongactivity historically. We will continue to moni-tor this slow but steady Business Aviationrecovery and hope it continues, even after thesummer days of 2012 become history.❯ 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; Web: www.mdchase.com

• Marj Rose is president of MarketLift, Inc. and can becontacted at P.O. Box 595036 Dallas, TX 75359; Mob: 214-862-8992, Web: www.market-lift.com

• JETNET can be contacted at 101 First Street, Utica,NY 13501; Tel: 800-400-2298; Web:www.jetnet.com or www.avdatainc.com * You can now follow JETNET on Twitter at www.twitter.com/JETNETLLC

❯ Do you have any questions or opinions on the abovetopic? Get them answered/published in World AircraftSales Magazine. Email feedback to: [email protected]

Chart C

4.00

4.50

5.00

5.50

6.00

6.50

7.00

7.50

8.00

Q2

2007

Q3

2007

Q4

2007

Q1

2008

Q2

2008

Q3

2008

Q4

2008

Q1

2009

Q2

2009

Q3

2009

Q4

2009

Q1

2010

Q2

2010

Q3

2010

Q4

2010

Q1

2011

Q22

011

Q3

2011

Q4

2011

Q1

2012

Q2

2012

Source: GlobalAir.com; Presentation and Analysis by Chase & Associates

2006 to 2012 By Quarter

High = $6.83Low = $4.61Avg = $5.46

Fuel Bubble #1 Fuel Bubble #2

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CHART C - U.S. JET A FUEL PRICE PER GALLON



Aircraft Ownership Trusts. by Greg Cirillon early 2011, the FAA ignited aminor firestorm when it tem-porarily halted approval ofownership trusts as permittedowners of US-registered air-

craft. The FAA’s action froze many aircrafttransactions and cast doubt on foreign buy-ers’ ability to register aircraft in the US. TheFAA moratorium was in response to eventswhere the trustee of an aircraft ownershiptrust seemed unable to provide the FAAwith basic information as to the aircraft’soperational status.

The FAA quickly “unfroze” the process-ing of ownership trust applications, andover the past 14 months has worked withinterested industry participants on a “policyclarification” for non-citizen aircraft owner-ship trusts (NCTs). A final position isexpected in the Summer of 2012, but thelikely outcome is fairly clear. NCTs willcontinue, but with an enhanced role fortrustees.

THE ROLE OF AIRCRAFTOWNERSHIP TRUSTSThe United States has an “owner registry”system - meaning that the legal owner of anaircraft is tasked with registering it. In con-trast, many nations have an “operator reg-istry” requiring the aircraft’s operator to

register the aircraft. US law (49 USC 44102)requires that any person or entity register-ing (owning) a US registered aircraft be aUS citizen.

Notably, US law does not concern itselfwith the citizenship of the aircraft operator,so there is no limitation on foreign lesseesoperating US-registered aircraft. This quirkin the law makes one wonder why there is aUS citizenship requirement at all.

For decades, foreign buyers seeking toavail themselves of the benefits of US (or“N”) registration have employed ownershiptrusts to satisfy the US citizenship standard.US registration offers an owner greaterresale possibilities, broader financingoptions, and a positive perception that theaircraft has been operated and maintainedunder a stringent regulatory regime.

In forming a trust, the ownership of theaircraft is changed so that the foreign entity(the “trustor”) owns the beneficial interestin the trust (known as the “trust estate”)while the aircraft’s legal owner is the trust,which is controlled by the trustee. Thetrustee is generally an affiliate of a major,US financial institution. The trustee, as a UScitizen, needs a high degree of autonomy inorder to satisfy the US statutory citizenshipstandard.

Typically, a business jet in an ownership

trust structure is titled in the trust’s name,and possession of the aircraft is returned tothe foreign ex-owner by a lease or similaragreement. NCTs are not specificallyaddressed in US statutes, but the FAAapproves of them as aircraft owners viawritten interpretations and policies. As aresult, the FAA’s “fix” to the perceivedproblem of non-US citizens operating N-reg-istered aircraft through absentee ownershiptrusts is not regulatory rulemaking, butrather a Proposed Policy Clarification (PPC).

In an NCT structure, the trustee is gener-ally passive and uninvolved in day-to-dayaircraft operations, unless there is a financ-ing or sale of the aircraft, or other eventrequiring the aircraft owner to act. Thiswould be the case in any owner/lessee rela-tionship where the owner entrusts completeresponsibility to the lessee.

Based on the above incidents, the FAAdecided that trustees were too passive anduninvolved. The FAA felt that the NCT wastoo detached from aircraft operations to per-mit the FAA to do its job of overseeing regu-latory compliance. The FAA published thePPC on February 9, 2012 and laid out aseries of changes to prior policy on NCTs. InMay, 2012, the aircraft industry participantsresponded. To summarize the key changes(and industry opposition):

A Matter of Trust:

NON-CITIZEN OWNERSHIP TRUSTS

❯

I


NCT_Gil WolinNov06 25/07/2012 12:53 Page 1

Alex Ayling 0044 208 549 3917 alex avbuyer.com

Astrid Ayling0044 208 549 5024

astrid avbuyer.com

EHS August 25/07/2012 13:00 Page 1

• FAA Form Trust Agreement: The FAA proposed a “standard non-citizen trust agreement” to capture many of the points described below. In response, the industry represented by the Aviation Working Group, Industry Consultative Group (ICG) asked the FAA to not establish a form agreement, but rather to offer form clauses for inclusion in trust agreements, thus allowing trustors and trustees to varyother agreement provisions to reflect their commercial intent. It is doubtful that the FAA would require trusts to adhere strict-ly to a single form, as long as deviations do not undermine the PPC’s objectives.

• Disclosure of Leases to Foreign Trustors:The FAA acknowledges that foreign trustors are frequently given exclusive possession and physical control over the aircraft by the trust, often reflected in leas-es or operating agreements. In the past, NCTs often failed to provide copies of these “side agreements” to the FAA for review with the trust agreement, and in some cases these side agreements under-mined or contradicted the trust agreement.

The PPC proposes to have all side agreements filed with the FAA for review(and if no side agreements are filed, the

trustee is to attest that no agreements exist). The ICG accepts this filing require-ment, but asks that the FAA discard these documents once they have approved the trust as a US citizen, in order to protect theprivacy of the foreign trustors. [It is highlyunusual for a federal agency to destroy or return documents used in reaching a regu-latory decision, and it will be interesting to see what the FAA does in response to this concern.]

• Trustee Autonomy (Removal): The FAA intends to severely restrict the foreign

trustor’s ability to influence the trustee, including limiting the trustor’s ability to remove (fire) the trustee unless there is cause to do so. The ICG suggests specific standards for removing the trustee for cause (i.e., “willful misconduct or gross negligence”).

• Enhanced Trustee Involvement: In per-haps the one area that truly responds to the problem first identified by the FAA (the “know-nothing” trustee), the FAA proposed that trustees be capable of responding to the FAA’s informational inquiries about the aircraft, its ownership and operations.

Specifically, the PPC expects a trustee to be able to identify the operator and princi-pal base of operations for an NCT-owned aircraft within two business days, and to identify crew, future operations and main-tenance records within five business days. The ICG is hoping to convince the FAA to back off a specific numeric standard, and instead adopt a descriptive standard for timely responses. NCT owned aircraft are often located in remote locations, and pro-ducing crew and maintenance records can be difficult as a practical matter.

• Control of the Aircraft: The FAA and the ICG continue to wrestle with the difficult question of how to ensure trustee control of the aircraft operations, while at the same time permitting the foreign trustor to have sole use of the aircraft. The FAA continues to speak in absolutes, implying that the trustee must exercise control of operations continuously; while the ICG asks that the control requirement be con-ditional, meaning that the trustee have theability to control the aircraft when neces-sary to protect the interests of the United States, but allowing for transfers of control

by leases or operating agreements in the ordinary course.

It is difficult to reconcile the FAA’s implication of continuous trustee control with the acknowledgement of exclusive operating leases to foreign trustors.

CONCLUSIONSAs a practical matter, if you currently have anaircraft in an NCT, or if you are putting oneinto an NCT, this ownership method willremain available to you for the foreseeablefuture. What remains to be seen is how therole of the trustee will change.

If the FAA has its way, then trustees willhave a great deal of additional work to do,including regular tracking of NCT aircraftoperations.

Trust structures are usually priced with arelatively modest start-up and annual fees;and any unusual work required by thetrustee is charged to the trustor. The FAA’sproposed changes will greatly increase theburden on trustees, and foreign buyers canexpect to see higher start-up and annual fees,and security deposit requirements to secure atrustee’s ability to be paid for extraordinaryactions required by the FAA.

❯ For more information,please contact GregCirillo, Wiley Rein LLP,703.905.2808 [email protected]. Mr. Cirillo is a transac-tional, commercial attor-ney practicing at WileyRein LLP representingbusinesses, entrepreneursand high net worth indi-viduals in a wide range oftransactions including venture formation, finance,corporate control, licensing, succession planning,mergers and acquisitions.

NON-CITIZEN OWNERSHIP TRUSTS


NCT_Gil WolinNov06 25/07/2012 12:54 Page 2

Serial Number: 20512Registration: N311AGAirframe TT: 31,783.8Landings: 17,321EnginesPratt & Whitney #1, #3: JT8D-217C, #2: JT8D-9A

Total Time (hrs) Total CyclesEngine #1 5,534.2 1,661(S/N: 726125)Engine #2 32,333.6 44,978(S/N: 674516)Engine #3 5,534.2 1,661(S/N: 726124)APUGarrett GTCP-85-98C (S/N: P22864)AvionicsCommunications:(2) Honeywell Primus 2 - VHF(1) Collins VHF-22B – VHF(2) Collins HF-628 with SELCAL(5) Honeywell Audio Panels (Primus 2)(1) Aircell Iridium– phone + ICS (3 phones)(1) Honeywell AFIS

Navigation (VHF):(2) Honeywell Primus2:

VOR, ILS, DME, ADF, MKR Instrument Panel Display:(5) Tube EFIS – EDZ-805

Autopilot / Flight Director:(2) Honeywell FMS FMZ 2000(1) Interface: Avionics Engineering Svs

Flight Management System:(2) Honeywell Flt Drctr Cmptrs FZ500

Long Range Navigation:

(3) Honeywell IRS Laseref(2) Honeywell GPS(1) Honeywell Laser Trak w/ Display

Weather Radar: (1) Honeywell Primus P880 (color)Transponder: (2) Honeywell – Mode S (enhanced)TCAS II (1) Honeywell w/ change 7InteriorThis designer interior was featured inArchitectural Digest when it was installed and hasbeen continuously maintained in its timelessclassic style. Luxurious accommodations areprovided for 28 passengers. The forward salonfeatures a combination of divans and individualseating for twelve including a convertiblecocktail / dining table between opposite three-place divans for casual or formal dining. Movingaft and servicing the forward salon is a uniquebuffet with storage cabinets beneath. Acrossfrom the well-equipped gourmet galley is aserving bar with drawer and cabinet storage.A passageway leads further aft to the privatestateroom and then on to the aft lounge.Aircraft Condition and Maintenance:This Aircraft is in excellent airworthycondition and is certified for immediateworldwide operation. It completed a heavymaintenance C-check during First Quarter2012, which included JT8D-217C engine shopvisits. There is no scheduled majormaintenance for two years. The Long-rangeFuel Tank System has been re-certified andis compliant with SFAR-88.

Boeing 727-100REW “Super 27”

Tel: +1 (0) 610-436-4875Fax: +1 (0) 610-436-1185Mob: +1 (0) 610-547-2311E-mail: [email protected]

AIR FLEET LEASING AND MANAGEMENTCOMPANY, INC.

1209 Ward Avenue - Suite 100, West Chester,PA 19380 (Pennsylvania, USA)


SHOWCASE

Please contact Dan Boyajianat these coordinates

for further details

These specifications are subject to inspection andverification.

Air Fleet Leasing August 26/07/2012 10:16 Page 1

SHOWCASE

Serial Number: 550-0636Registration: N50NFAirframe TT: 6343Landings: 4898

AirframeCESCOM Fresh Phase 1-5 and 10 - July 2011

EnginesPratt & Whitney JT15D-4Eng. 1: 2659 SMOH 711 SHOTEng. 2: 2659 SMOH 711 SHOT

AvionicsSperry 3 tube EDS-603 3 Tube EFISSperry SPZ 500 AutopilotGlobal GNS XLS w/ GPSKGP 860 MFDHoneywell Primus 650 Color RadarDual Collins 32A Navs 8.33 SpacingDual Collins 22A CommsDual Collins TDR 90 TranspondersDual Collins ADF – 462Collins ALT-55BFlightphone Honeywell Mark VIII TAWS406 ELT

Additional FeaturesRVSMThrust ReverseFairchild A100 CVRAFT BaggageFreon Air ConditioningNo Damage HistoryGross Take Off Weight Increase

ExteriorOverall Matterhorn White with blue stripes. Newpaint in June 1997

InteriorInterior has seven passenger center clubconfiguration. Also included is a left hand deluxerefreshment center. Seat belted flushing potty.New leather seats and carpet 2009


AeroSmith Penny8031 Airport Blvd., Suite 224, Houston,

TX 77061

Tel: +1 (713) 649-6100Fax: +1 (713) 649-8417Email: [email protected]

1990 Citation II

Price Reduced

AeroSmith Penny August 24/07/2012 14:59 Page 1

SHOWCASE

Japat AGDaniel Stieger

E-mail: [email protected]

2000 Bombardier Global Express


Serial Number: 9067Registration: N67RXAirframe TT: 7,592.4Landings: 2,264

• Immediately available• New paint• New soft goods• 8C-Check completed in June 2012• Landing gear overhauled in June 2012• Only one owner since new• Complete and clean maintenance records• Engines on Corporate Care• APU on MSP• Airframe on Smart Parts• Contact us for complete details andspecifications

Engines and APULeft Right

Serial Number 12235 12246Total Time 7,592.4 hrs 7,592.4 hrsTotal Cycles 2,264 cycles 2,264 cyclesInspection Status Current On Condition

Current On ConditionAPU RE-220 (GX) on MSPSerial Number P-166Total Time 3,006 hoursTotal Cycles 4,253 cyclesWeightsLast weighed June 2012Empty 49,970 lbsBOW 51,559 lbsMax Zero Fuel 56,000 lbsMax Landing 78,600 lbs

Max Take-Off 96,000 lbsMax Gross 96,250 lbsExteriorPainted June 2012Paint Overall whiteInteriorRefurbished June 2012Cabin Layout 14 Seats• Baker cabin management systems• Electric window shadesForward Cabin • 4 club seatsMid Cabin • 2 club seats plus 4-seat dining groupAft Cabin • 2-seat divan plus 2 club seatsToilets • Fwd and aft Magair toiletsEntertainment • 2 x DVD/12 CD Player & VCR• Fwd and aft 18” monitors• 6 x 6.5” seat monitors• Crew rest has built-in PMAT plus 10” monitor• FaxGalley • TIA Oven • Freezer • Chiller • MicrowaveAvionicsEFIS • 6 x DU-870FMS • 3 x HoneywellFlight Director • Honeywell IC800Autopilot • Honeywell IC800GPS • 2 x GPS-550NAV • 2 x RNZ-850ADF • 2 x RNZ-850DME • 2 x RNZ-850VHF • 2 x RCZ-833KHF • 2 x HF-9000/SelcalSelcal • 1 x Coltech CSD-714Transponder • 2 x RCZ-833 Mode S

Enhanced

Immediately available, make offer!

2000 Global Express August 24/07/2012 15:05 Page 1

SHOWCASE

Serial Number: 9086Registration: M-MNAAAirframe TT: 6370Landings: 2229

As owner, Japat AG offers for sale its2001 Bombardier Global Express,Serial Number 9086.This aircraft features:

• Honeywell Avionics• 8C-Check and Landing Gear Overhaul inOctober 2012

• Buyers Choice of new Interior and PaintColors

AirframeEmpty Weight: 49,545 Lbs, Max Gross Weight:96,000 Lbs, Max. Landing: 78,600 Lbs.EnginesBR710A2-20 on Corporate Care.Left: S/N-12287, TT: 6370.19 Hrs,TC: 2,229 Cycles.Right: S/N-12286, TT: 6370.19 Hrs,TC: 2,229. All Inspections Current.APU: RE-220(GX). On MSPAvionicsDU-870 EFIS, Honeywell FMS, HoneywellIC800 Flight Director & Autopilot,GPS-550 GPS, RNZ-850 NAV, ADF, & DME,RCZ-833K VHF, HF-9000/Selcal HF,RCZ-833 Mode S Enhanced Transponder,Primus-880 Radad, TCAS, FDR, CVR, ELT.InteriorOriginal, 14 seat interior. Baker CabinManagement System. Electric Window

Shades. 4 Club Seats in Forward Cabin, 2 ClubSeats plus 4-Seat Dining Group in Mid Cabin,2-Seat Divan plus 2 Club Seats in Aft Cabin.Fwd and Aft Magair Toilets. DVD, CD, & VCR.6-6.5” Seat Monitors. Crew Rest has built-inPMAT plus 10” Monitor. Fax. TIA Oven. Freezer.Chiller. Microwave. Aircraft will be deliveredwith fresh soft goods in October 2012. Colorcan still be decided by buyer.ExteriorJuly 2002 Paint. Overall White with Blue andGold Stripes. Aircraft will be delivered with new,October 2012 Paint. Color can still be decidedby buyer.

Aircraft Located at Basel-Airport, Switzerland

Price: Please Inquire

2001 Bombardier Global Express


Japat AGDaniel Stieger

E-mail: [email protected]

2001 Global Express March 25/07/2012 14:04 Page 1

2008 Cessna Citationjet 2+

Tel: +41 (0) 22 306 1060Mob: +41 (0) 79 2005265E-mail: [email protected]: www.albinati.aero

ALBINATI AERONAUTICS SAP.O. BOX 44

1215 GENEVA 15 AIRPORTSWITZERLAND

Serial Number: 525A-0385Registration: HB-VOPAirframe TT: 1529Landings: 1510

Engines on TAP EliteWilliams International FJ-44- 3A-24 FADEC ControlledLH: S/N 216179 1529 TT / 1510 CSN RH: S/N 216178 1529 TT / 1510 CSN

AvionicsCollins Proline 21 Avionics System with 3 (8x10inc) color, active matrix liquid crystal displays. AHRS 2 Collins AHC-3050ADC 2 Collins ADC-3000 IFIS 1 Collins IFIS-5000 FMS 2 Collins FMS-.3000 (incl. DME II) GPS 1 Collins GPS-4000A w/12-ChannelRTU 2 Collins RTU-4200 NAV 2 Collins NAV-4000 and NAV-4500 ADF 1 Collins ADF DME 1 Collins DME-4000 VHF 2 Collins VHF-4000 w/8.33KHz spacing XPDR 2 Collins TDR-94 Mode S TCAS II 1 Collins TTR-4000 TCAS II EGPWS Mark V EGPWS with RAAS Radar 1 Collins WXR-800 ESIS GH-3000 ESIS CVR Provisions for installation of L3 connection FA 2100 CVR ELT 1 Artex C406-N w/3 freq. ELT MDC 1 Collins Maintenance Diagnostic System

Additional EquipmentGnd Com Dispatch Switch (powers 1Radio, 1RTU and both audio panel)Pulselight System with interface to TCAS II Tail Log Lights Nose Landing Gear in/protection boot Installation Jeppesen Electronic Charts on MFDCrew Seat Sheepskin Slipcovers 110V Ac Universal Electrical Outlet w/500WInverterMonorail Sunvisors – Entry Step Upgrade to Airstair StyleSteep Approach Option

InteriorTwo (2) Cockpit, six (6) Cabin passengers seats.Four executive club chairs with two fold-outexecutive tables. RH Fwd Refreshment Center. Aft Divider Assembly with sliding door Aft Low Boy storage cabinet with drawer One Aft Potty Belted Seat. Townsend Leather Satin finished wood veneer – Australian Walnut Brushed Aluminium Hardware Finish.

ExteriorOverall white with dark grey stripes

JAR OPS 1

Asking Price: Make Offer


SHOWCASE

Albinati Citationjet 2+ August 24/07/2012 16:15 Page 1

SHOWCASE

Serial Number: 239Airframe TT: 1,705EnginePRATT & WHITNEY PT6A-64 (3,500 Hr. TBO)352 Hours Since Hot SectionPropellerHARTZELL 230 SPOH - Nov. 2008AvionicsNAV/COMM: GARMIN GNS-530WAP/FD: KING KFC-325 (W/PRESELECT)DME: KING KN-63XPNDR: DUAL GARMIN GTX-327ALTIMETER: KING KEA-346R/ALT: KING KRA-405BEGPWS: KING KGP-560 (ON GMX-200)R/ALT: KING KRA-405BAUDIO: GARMIN GMA-340GPS: DUAL GARMIN GNS-530WEFIS: TWO-TUBE BENDIX EFS-40MFD: GARMIN GMX-200 W/CHARTVIEWRADAR: KING RDR-2000 (ON GMX-200)S/SCOPE: WX-500TCAD: SKYWATCH HPWx: GARMIN GDL-69 (DOWNLINK)FeaturesTHREE OWNERS SINCE NEW, GASEOUSOXYGEN SYSTEM, ROLL STEERINGUPGRADE FOR MORE PRECISE AUTOPILOTCONTROL FOR APPROACHES, UPGRADEDTHE EFIS 40 TO COUPLE WAAS VERTICAL(LPV) APPROACHES, ETM 700 ENGINETREND MONITOR, FULL COPILOT

INSTRUMENTS: KING KI-525 HSI, AIRSPEED& VERTICAL SPEED INDICATORS, ALTITUDEINDICATOR, ELECTRIC ARTIFICIAL HORIZON,ELECTRIC TRIM CONTROL, ALTIMETERAND AIRSPEED INDICATOR. KEITH FREONAIR, TRI BAND ELT, KNOWN ICING (DE-ICEBOOTS, ELECTRIC PROP, ELECTRICALLYHEATED RIGHT HAND SIDE WINDSHIELD,PITOT/STALL, INERTIAL SEPARATOR), ELT, OATGAUGE AND NO DAMAGE HISTORYMaintenanceANNUAL INSPECTION COMPLIED WITHFEBRUARY 2012 BY SOCATA AIRCRAFT,LANDING GEAR ON 10 YEAR LONG LIFEINSPECTION PROGRAM WHICH INVOLVEDREBUILDING THE ACTUATORS TO 10 YEARSPECS, REPLACING ALL THE TORQUE LINKPINS AND BUSHINGS IN ALL THREE GEARAND RESEALING THE GEAR, NEW WINGBOOTS NOVEMBER 2008.InteriorPLATINUM EDITION, HIGH COMFORT BEIGELEATHER SEATS, GOLD METAL FINISH FORREADLING LIGHTS, BEIGE ALCANTARAWALLS, WOOD OVERHEAD PANEL,EXECUTIVE WRITING TABLE, AND HIGHGLOSS CHERRY CABINETRY.ExteriorWHITE UPPER FUSELAGE AND WINGS,LOWER FUSELAGE BLUE WITH SILVER, BLUEAND RED ACCENTSThe aircraft is based in Europe

2002 TBM 700B


J.P. HanleyCorporate AirSearch Int'l Inc.

Palm Beach, South Florida

Palm Beach Tel: (561) 433-3510Fax: (561) 433-3842Cellular: (561) 289-3355Email: [email protected]: www.caijets.com

CAI Socata TBM700B August 24/07/2012 15:09 Page 1

SHOWCASE


Tel: +44 (0) 121 782 1700Fax: +44 (0) 121 782 1711Email: [email protected]

2000 Citation BravoSerial Number: 550B-0917Registration: G-IDABAirframe TT: 2780Landings: 2341

• On Power Advantage & ProParts• EU-Ops Compliant• Fresh Phase I through V just completed

EnginesEng 1 (L): 2,780 SNEW - 4,000 TBO - 2,341 CSNEng 2 (R): 2,780 SNEW - 4,000 TBO - 2,341 CSN

AvionicsAvionics Package: Honeywell P-1000Flight Director: Primus 1000Autopilot: Primus 1000FMS: Honeywell GNS-XLSCommunication Radios: Dual King With 8.33SpacingNavigation Radios: Dual KingDME: Dual KingADF: King CNI-5000Transponder: Honeywell MST-67A Mode SenhancedTCAS: Honeywell CAS-67A TCAS-IITAWS: Honeywell Mark VIII EGPWSHi Frequency: Bendix/King KHF-950Weather Radar: Collins RTA-800CVR: FairchildFDR: Fairchild

Additional Equipment and OptionsRosen Monorail sun visorsEROS Crew Masks50 Cubic Foot Oxygen BottleLarge SAFT 43 Amp BatteryOverwater Life VestsHoneywell Mark VIII EGPWSArtex ELT w/triple channelsCamino window inserts

ExteriorMatterhorn with navy blue & burgundy stripes

InteriorAttractive lightly appointed interior features greyleather seating with Elite style tailoring and highgloss laminate cabinetry.Full LH Galley with hot liquid and storage cabinetExecutive writing tables.Non belted flushing lavatory.Indirect lighting, and an aft divider.

Price Reduced

Current owners trading up

Excellent aircraft for either privateor charter purposes

In exceptional condition

Eurojet July 24/07/2012 15:10 Page 1

SHOWCASE

Serial Number: 1085Registration: N423TTAirframe TT: 8312Landings: 3836

EnginesEngine Model: Rolls Royce TAY MK611-8Rolls Royce Corporate Care Program

Engine #1: Engine #2:TSOH: 1133 Hours 1133 HoursCSOH: 544 544

APUModel: Garrett GTCP36-100TSHSI: 1524 Hours: 6246

Maintenance12, 24, 72 month items complied with May 2012by General Dynamics PBIGulfstream Computerized Maintenance Program

Additional FeaturesRVMSAllied Signal EGPWSHoneywell TCAS II With Change 7Honeywell Sat AFISBaker Audio Control SystemXM RadioBaker Passenger Briefing SystemArtex C-406-1 ELTFairchild A-100 Cockpit Voice RecorderMotorola NA-135 SELCAL

Avionics• Dual Honeywell SPZ-8000 EFIS• Iridium Satphone• Triple Honeywell FMZ-2000

w/5.2 software• Dual Collins HF-190• Triple Collins VHF-422D Comms• Dual Collins VIR-432 Navs• Dual Collins ADF-462• Dual Collins DME-442• Dual Collins TDR-94D Transponders• Honeywell Primus 870 Color Radar• Triple Honeywell Laseref II IRU• Dual Honeywell GPS• Honeywell Lasertrak• 3rd Standby Nav/Comm CTL-23

ExteriorWhite with blue and silver stripesRe-striped January 2007

Interior and Cabin FeaturesRefurbished soft goods and wood January 2007Replaced carpet & recovered Divan May 201213-Passenger Executive SeatingForward crew only & Aft LavatoryAirshow 400Three 17" LCD Video Monitors

Make Offer ~ Owner Financing Available ~All Trades Considered


Florida Jet Sales, Inc1516 Perimeter Road, Suite 201Palm Beach International Airport

West Palm Beach, FL 33406

Tel: +1 (561) 615-8231Fax: +1 (561) 615-8232Email: [email protected]

1988 Gulfstream IV

Florida Jet August 24/07/2012 15:12 Page 1

SHOWCASE


Serial Number: 650-7059Registration: N14DGAirframe TT: 4,456.4 Landings: 3,504

• LOW TOTAL TIME, 4,456.4 HOURS• MSP• XM RADIO• HERMISTATIC DOOR SEAL TO REDUCECABIN NOISE LEVEL

• 2 LARGE MONITORS & 5 INDIVIDUALSEAT MONITORS

Engines Garrett TFE - 731-4R-2SMSP GoldLeft: S/N: P102227. 4,220.5 Hours. 3,337 CyclesRight: S/N: P102228. 4,267 Hours. 3,329 Cycles

APUHoneywell S/N: 36-150. 2,459 HoursOn MSPAvionics• Honeywell SPZ-8000 Avionics Suite• Honeywell SPZ-8000 IFCS• Honeywell Primus 670• Dual Collins VHF 22A• Dual Collins DME 42• Dual Collins ADF 452• Collins TDR -94• Collins ALT-55• Honeywell TCAS-II• Fairchild GA-100 Cockpit Voice Rec.• Dual Honeywell NZ-2000• King KTR-953 with SeCal• Honeywell Mark VIII

AirCell 3100T with dual handsets. Airshow 400. RVSMCompliant. VHS and CD player. Hermistatic Door SealInteriorSix passenger configuration features a forward four placeclub with two fold out executive tables and two forwardfacing aft seats. The aircraft features a belted aft lavatory.Soft Goods Refurbished November 2008; New CarpetNovember 2008ExteriorNew Paint November 2008, by Jim Miller Additional Features5 Individual monitors. XM Radio IPod docking station. Camera14" Monitor in the forward right cabin10" Monitor in the forward left cabin Hermistatic Door Seal to reduce cabin noise level

1995 Citation VII

2001 Falcon 2000

Two Corporate Owners Since New

Mente Group, LLC15303 North Dallas Parkway

Suite 1320, Addison, TX 75001

Serial Number: 131Registration: N707MMAirframe TT: 5,187Landings: 3,010

• Exterior Paint in January 2011• Engine Program: 100% JSSI• One Owner• Fortune 500 Owned & OperatedAirframe Camp Maintenance & Tracking ProgramEngines CFE 738-1-1B 100% JSSILeft: S/N P105379, 5,068 Hours, 3,010 CyclesRight: S/N P105387, 5,066 Hours, 3,010 CyclesAPUS/N P-243. 2,679 Hours. APU is not on a Program

Avionics• Four Tube Collins 4000 EFIS• Dual Collins VHF-422C Comm• Dual Collins VIR-432 NAV• Dual Collins ADF-462 ADF• Dual Collins DME-442 DME• Dual Collins TDR-94D Mode S TDR• One Collins TWR-850/2 Cntrls Radar• Dual Collins FMS-6000/CDU-6100 FMS• Dual Collins 4000 GPS• Dual Honeywell Laseref IV• Dual Collins 9000 w/ Selcal HF• Dual Collins ALT-55B Rad Alt• Meggitt LCD Secondary Flight Display • Collins 4000 w/ Chng 7 TCAS II• Collins APS-4000 Autopilot• Socata 97 Tri Band Elt

InteriorEight passenger interior consisting of a four place aftcabin package including left hand dining/coffee table andtwo sets of dual passenger seats, two individual 18” widepassenger seats. Jumpseat (ERDA). Crew seatsheepskin inserts. Aircraft flight/performance box. Aircraftlogbook holder. Forward right hand galley annex (15”).Right hand galley(46”) with pop-out work surface, hightemp oven, Tia coffee maker, and Tia microwave oven.Forward left hand entryway closet/entertainment cabinetwith 15” LCD monitor on cabin side. Headliner lightingsystem. Galley pocket/sliding doorExteriorLast Painted: January 2011. By: Duncan AviationWhite (Jetglo snow white) with blue (Jetglo light blue) andblack (Jetglo gloss black) stripes. Dry bay mod compliedwith prior to repaint

Kyle FoddrillTel: +1 (817) 372-4527E-mail: [email protected]

Mark PayneTel: +1 972-897-3246E-mail: [email protected]

Tel: 1 214 351 9595www.mentegroup.com

Mente Citation VII & Falcon 2000 July 24/07/2012 16:23 Page 1

SHOWCASE


AvionicsHoneywell Primus 1000 3 - Tube EFISHoneywell GNS-XLS FMSHoneywell MKVII EGPWSHoneywell TCAS II w/Change 7L3 Cockpit Voice RecorderGlobal-Wulfsberg AFIS

InteriorSeven Passenger Interior & Belted Lav Seat Aft Tailcone Baggage w/Ski Tube. Zephyr Air Conditioning. Recently refreshed Interior

ExteriorRecently completed Permaguardsealed Exterior

MaintenanceFresh Phase 1 - 5 completed byLandmark, ScottsdaleZero Engine Option

follow us on twitter@HopkinsonAssoc

John Hopkinson & Associates Ltd.1441 Aviation Park NE, 2nd Floor,

Box 560, Calgary, Alberta, T2E 8M7

Tel: (403) 291 9027Fax: (403) 637 [email protected]

Cessna Citation Ultras

John Hopkinson Ultras July 24/07/2012 15:16 Page 1

SHOWCASE

1991 Hawker 1000B


Remo Investments Tel: +44 (0) 7860 307638Email: [email protected]

Serial Number: 259004Registration: M-ACPTAirframe TT: 3946Landings: 2328

• 8.33 VHF• FN Immune Navs• RVSM approved• MNPS approved• 3000 nm with 8 Pax• One owner since factory

EngineEngines Hours/Cyc:Left: 3374 TTSN. 1968 TCSN.Right: 3109 TTSN. 1809 TCSNEngines – ESP Silver

APUSolar T-62T-40C8D-1 Total Hours: 1355

AvionicsDual Honeywell SPZ-8000. Dual Honeywell EDZ-818 Dual Honeywell DFZ-800 Nav (RNZ850/ADZ 810/RCZ 850 Mode S.)Dual Honeywell SRZ-850 Corn.Dual Honeywell Laseref III / with GPS.EGPWS Honeywell Mk VTCAS 2000Dual Honeywell FMZ-900 FMSHoneywell Primus 870 W/RadarHoneywell AA-300 Rad/Alt.Racal H690/4 Pax/Crew TelephoneFairchild CVRDual King KHF-950 HF with S/CAL.FDR – ProvisionsNZ 2000

Interior8 place with 5 individual chairs, including fwd. club4, aft 3 place divan all in leather. Dual fwd. galleywith cooking oven, 'fridge, hot water/coffee potand sink unit. Aft toilet. Baggage hold aft of toilet. Aft slimline wardrobe, Fwd wardrobe/baggage with tambour door & 3rd crew jump seat stowage.Light veneers & gold plated fittings. New Headand Window liner to dado in Ultra Leather in 09

ExteriorOverall white, silver & red scheme. 2008

WeightsMax. Ramp 31300 lbsMax. Take off 31100 lbs Max. Landing 25000 lbsZero Fuel 20300 lbsOp. Empty 17734 lbs

OptionsRohr Thrust reversersExterior toilet servicing.Exterior access to aft baggage hold. Engines onPratt & Whitney ESP

NotesMNPS approved.Factory Mods have been incorporated to lateproduction aircraft status

Remo Investments July 24/07/2012 15:17 Page 1

SHOWCASE


Northern Air, Inc.Mark Serbenski

Gerald R. Ford International Airport5500 - 44th Street, SE • Grand Rapids, MI 49512

Tel: 800 262 4953 Tel: +1 616.336 4737Cell: +1 616 648 2656Fax: +1 616 988 [email protected]

• Extended Range Fuel

Serial Number: 40-2100Registration: N959RPAirframe TT: 1895Landings: 1538

• Extended Range Fuel

AirframeFactory Warranty Smart Parts

EnginesLeft Engine 1907 / Right Engine 1899 MSPGold

Avionics• Honeywell Primus 1000 IntegratedFlight

• Director & Autopilot System• 4-tube 8x7” EFIS• Dual Universal UNS1 L FMS• Dual Comm radios with 8.33Capabilities

• 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 LocatorTransmitter

• Cockpit Voice Recorder• Radio Altimeter• XM Satellite Weather

ExteriorOverall Matterhorn White with Blue and YellowStripes

InteriorFire-blocked Six passenger executive interior in acenter club configuration with an aft belted seatfor a seventh passenger. Two Left and one Rightexecutive tables with Imbuia gloss inlays in thecenter club. Seating is finished in Almond Crunchleather with Surfside lower sidewalls and finishedImbuia 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

2008 Learjet 40XR

Northern Air N959RP June 24/07/2012 15:21 Page 1

SHOWCASE

2005 Cessna Citation CJ3


Aero-Dienst GmbH & Co. KG,Flughafenstrasse 100, 90411

Nuernberg, Germany

Tel: +49-911-9356-120 Fax: +49-911-9356-401 E-mail: [email protected]

Serial Number: 525B0011Airframe TT: 2114Landings: 1861

Airframe, Avionics & Engines enrolled on CessnaProAdvantage TAP ELITE Program - Aircraftenrolled on Cessna Computerized MaintenanceTracking Service CESCOM - EU-OPS 1Equipped – Steep Approach - RVSM and MNPSApproved – Non Smoking Aircraft - AllMaintenance up-to-date - ADs and MandatorySBs Current – Seven Passengers Seating - NoStructural Damage History

Engines2 Williams FJ44-3AL/H: S/N 141025 TSN: 2114 hrs CSN: 1861R/H: S/N 141026 TSN: 2114 hrs CSN: 1861

Avionics and Other FeaturesCollins Pro Line 21 Integrated Avionics System

with 3- Tube EFISCOM: Dual Collins VHF-4000 Transceivers

w/ 8.33 kHz spacingHF COM: HF-9000 w/ SELCALSATCOM: AirCell ST-3100 Iridium SatphoneNAV: Dual Collins Navigation Receivers

(NAV-4000 & NAV-4500) w/ FM ImmunityDME: Dual Collins DME-4000ADF: Integr. in NAV-4000ADC: Dual Collins ADC-3000 Air Data ComputersAHRS: Dual Collins AHC-3000 AHRS

A/P: Collins APS-3000 AutopilotALT: Collins ALT-4000 Radio AltimeterFMS1: Collins FMS-3000 w/ Collins GPS-

4000A and Performance DatabaseFMS2: Garmin GPS-500 GPSXPDNR: Dual Collins TDR-94 Mode-S Diversity

Transponders w/ Enhanced Surveillancecapability

WXR: Collins RTA-800STORMSCOPE: L3 WX-1000E StormscopeTAWS: Honeywell Mark VIII EGPWS (Class A)TCAS: Collins TTR-4000 TCAS II w/ Change 7FDR/CVR: L-3 Communications FA2100 SSFDRELT: Artex C406-N ELT w/ 406 MHz and Nav.Interface

Additional EquipmentRVSM certifiedJeppesen Electronic ChartsCollins Broadcast Graphical WeatherCockpit Speaker Mute SwitchPrecise Pulselite System

InteriorExecutive fireblocked interior is configured with4-place center-club arrangement, two aft fwdfacing seats and aft L/H belted flushing toilet.Tastefully finished in Earthtone shades of Beige,Tan, and Oatmeal with high gloss wood veneercabinetry and trim. Carpet new in 2011

ExteriorOverall Snow White with Deep Red, Carter Gold,and Arista Blue accent striping

Price: Make OfferAll Specifications subject to verification upon inspection.Aircraft available subject to prior sale or withdrawal from market.

On CESSNA ProAdvantage TAP ELITE

Aero-Dienst CJ3 August_Heeren Cit Ultra sep 25/07/2012 12:45 Page 1

SHOWCASE

Serial Number: 1366Registration: N404XTAirframe TT: 6,940Landings: 4,480

EngineRolls-Royce Tay 611-8 on MSG-3 Schedule#1 - 6,788 Hours Since New - 1,878 HoursSince Midlife in 11/2007#2 - 6,856 Hours Since New - 3,403 HoursSince Midlife in 01/2005

APUGTCP 36-150G - 2,839 Time Since New - OnMSP

AvionicsHoneywell SPZ-8400 PackageTriple Collins VHF-422 Comm w/ 8.33 SpacingDual Collins VIR-432 Nav w/ FM ImmunityDual Collins ADF-462 ADFDual Collins DME-442 DMEDual Collins HF-822-0102-001Dual Collins TDR-94D Transponders w/Mode SFlight IDTriple Honeywell LaserRef II IRSDual Honeywell NZ-2000 FMSDual Honeywell RT-300 Radio AltimetersHoneywell Primus WU-880 Color RadarHoneywell LASERTRACKHoneywell TCAS II w/ Change 7Honeywell EGPWSHoneywell AFISIridium Aircell P-12023 SatcomL3 F-1000 Digital FDR S-800-2000-00Fairchild CVR 2100-1020-00Airtext ELT-406

FeaturesHoneywell HUDRVSM, RNP-5 & RNP-10Pulse Landing LightsWingtip Taxi LightsLED Nav Lights [ASC-466]

EntertainmentAirshow 400 • Three 14” Monitors • DVD andVCR Players • CD Player/Changer• Cabin Stereo Speakers • Cockpit & Cabin 110VAC Outlets

Interior12 Passenger with Aft Galley and Single Aft Lav• Fwd cabin - 4 place club configuration with dualfold-out tables • Mid cabin - 4 place conferencegroup with opposing credenza w/ non-belted seat• Aft cabin - 4 place club configuration with dualfold-out tables • Aft Full Galley • Aft Full Lav w/Belted Seat • Original 1999 w/ New Carpet

ExteriorOyster White with Blue and Gold stripes • NewNovember 2005

MaintenanceAircraft is maintained under the MSG-3 Schedule12, 48, 144 month inspections c/w 10/2011Honeywell Avionics covered under HAPP ProgramASC-469 Ribbon Heater c/w 11/2010ASC-485B APU Thermal Barrier c/w 02/2011

Price$11,950,000

1999 Gulfstream IVSP


Contact Robert HartTel: +1 (0) 912-964-7727Mob: +1 (0) 912-695-1555Email: [email protected]

A V I A T I O N

Since 1949

WELSCHWELSCH®

WELSWELSTV I AA

AAircraft Sales &

WELSWELSSCHSCHSince 1949

I O NAcquisitions

SCHSCH®

Welsch Avitaion August 24/07/2012 15:25 Page 1

SHOWCASE

Serial Number: 101 Registration: VP-CABAirframe TT: 3950Landings: 3480

• One owner since new (private owner)

• No damage history

• Maintenance by JetAviation Basel

• Perfect condition interior and exterior

• CAT II equipped and approved by CAA

• Complies with JAR OPS 1

• Cayman Island registration, formerly on

German registration

• CAMP access can be granted

• A/C delivered with fresh A check

EnginesEngines TFE731 5BR1C Honeywell(with MSP Gold Serviceplan)Consecutive serial numbers, enginessupplied with aircraft upon deliveryMPI/CZI due in 300HRS, costcovered by MSP.

APUGTCP 36-150 FHSI C/W in 2005

AvionicsFDRCVR

Tri- band ELTEGPWSSingle Rad AltMode STCASDual VHF 8,33khzRVSMBRNAVHFSelcalSingle GPSDual FMS/ IRSWeather Radar with Dual ControllerStormscopeCAT II certified.

InteriorHot air oven and coffeemaker. 14 Pax config.with fabric (wool) armrest and seatbaseleather. Cabin LED lighting. CD Player.

Special EquipmentCabin LED lightingIce detectorBattery chargerIridium sat phoneTowbar installationUSB data loaderThird flight deck crew seatN1 DEEC’s

Maintenance3C check C/W 2009

1991 Mystere-Falcon 900 B


ASW Air-Service WerkflugdienstGmbH & Co.KG

Flughafen, Gebäude 34722335 Hamburg, Germany

Tel: + 49-(0)40-59 88 46Fax: + 49-(0)40-59 64 09Cell: + 49-(0)170-8383330E-mail: [email protected]

Asking price 12.9Million US$

ASW Air-Service March 24/07/2012 15:27 Page 1


Marketplace

Boeing 737-300 VIP European Skybus Ltd Tel: +44 (0) 1531 633 000

✈ Email: [email protected]

Year: 1990

S/N: 24570

TTAF: 53457

Reg: N470AC

Location: United Kingdom

This Boeing 737-300 has recently undergone extensivemaintenance and engineering work and has been convertedto a VIP configuration in February 2011. The aircraft has beencompletely refurbished to the highest standards. The newowner will benefit from the millions of dollars and thousandsof man hours that have gone into completing this VIPconversion. Winglets have been fitted to improve the aircraftperformance and range. Price: Please call - REDUCED!

Dornier 328 EPSN Tel: +31 (0) 629 560 272


Year: 1998

S/N: 3095

TTAF: 2011

Reg: PH-EVY

Location: Netherlands

Aircraft in Executive lay-out 12 pax. Exceptionally wide corporatecabin arrangement with forward kitchen and aftWardrobe/Lavatory room (wider then e.g. G V or Falcon 900).Kitchen with oven, coffeemaker, wash bin, ample stowingcabinetry. Cabin with moving map display, video/audio system.Wardrobe / lavatory area with large wardrobe space. With accessto the aft baggage compartment. Fresh Phase V inspection,Fresh LG Overhaul. EASA JAR/OPS1 equipped. Dual S-Transponder. RVSM mod c/w. Price: Please call

Socata TBM 700B Avia Source, Inc. Tel: +1 626-584-8170


Year: 2001

S/N: 208

TTAF: 4050

Reg: LX-JFE

Location: Switzerland

Total Time as 4050 hours and the Engine Time SinceOverhaul is 333 hours. Take advantage of the best valueavailable in the 700Bs. This fine aircraft is one owner sincenew, has updated Garmin avionics, Socata maintainedand Extensive 10 year inspection is completed. Theinterior and exterior are in excellent condition.Price USD$1,200,000

Pilatus PC-12/47 Avia Source, Inc. Tel: +1 626-584-8170


Year: 2006

S/N: 732

TTAF: 1600

Reg: M-ZUMO


This excellent PC-12/47 is equipped with the SecondBattery, Large Oxy System and Additional Air Conditioning.It has the 8 passenger interior with the 6 seat BMWPlatinum Upgrade and two additional standard seats.Delivered with: 0 time since Hot Section Inspection, 0time since Prop Overhaul and we will paint stripes toyour specifications. Price USD$2,675,000

Boeing 737-500 European Skybus Ltd Tel: +44 (0) 1531 633 000


Year: 1991

S/N: 24645

TTAF: 36,946

Reg: EI-EOE


This Boeing 737-500 has recently undergone extensivemaintenance and engineering work including a “D” check andhas been converted to a VIP configuration in November 2010.The aircraft has been completely refurbished to the higheststandards. The new owner will benefit from the millions ofdollars and thousands of man hours that have gone intocompleting this VIP conversion which can include optionalWinglets to improve the aircraft performance and range.Price: Please call

Marketplace August12 25/07/2012 14:32 Page 1

Marketplace


Hawker 800A Leonard Hudson Drilling Tel: +1 806-662-5823


Year: 1995

S/N: 258273

TTAF: 6615.3

Reg: N337WR

Location: USA

Exceptional Hawker 800A "Built for the speed of business".Full true worldwide capability with NAT/MNPS, RNP-10Approval, 8.33MHz, dual KHF-950 w/SELCAL onboardMagnastar fax option, and galley. All this with a 2,600nautical mile range, offered at US $3,975,000.

jetphotos.net

Bell 206L4 Leonard Hudson Drilling Tel: +1 806-662-5823


Year: 2002

S/N: TBD

TTAF: 1700

Reg:

Location: USA

We are offfering our 2002 Bell 206 L4. Pictures do not dojustice to the helicopter, and the colors are very vibrant, it is ready for immediate work. It has had both aBell/Edwards completion and maintenance withimmaculate records, of course no damage of incidents.1695 TTSN, Two corporate owners. US $1,975,000.

Bell 412 EMS Leonard Hudson Drilling Tel: +1 806-662-5823


Year: 1981

S/N: 33017

TTAF: 15265

Reg: N554AL

Location: USA

Recent ‘no expense spared’ ($800,000) airframerefurbishment at Acro Helipro within the last 100 hours15,265 total time, most components over 50% remaining. Both engines are fresh Pratt and Whitney overhauled.Immediate delivery, Meticulous records.Current with medical interior and 13 passenger utilityinterior are included, aircraft is ‘turn-key’.Fresh annual / Export C of A. Price US $3,875,000

Bell 212 Leonard Hudson Drilling Tel: +1 806-662-5823


Year:

S/N:

TTAF:

Reg:

Location: USA

Seven, Late Model, Bell 212s In 'Off Shore Configuration'Now Available.Ask for pricing for one or all seven.

Cessna Citation CJ2 Klaus Union Tel: +49 (0) 234 459 5119


Year: 2001

S/N: C525A-0043

TTAF: 2237

Reg: D-IEKU

Location: Germany

Pro Line 21 3 Tube EFIS-Dual DME-CNI5000 Nav-Com-ADF-8.33KHz Spacing and FM Immunity-Dual GTX330D diversity XPDR-WX-1000E Stormscope-RTA-800 WXRadar-HF Provision-ALT-55BRadio Altimeter-L-3 CVR-Mark VII EGPWS-UNS-1K with PermanentDTU-BF Goodrich TCAS- Garmin 400 WAAS GPS/movingmapinterfaced to ProLine 21-RVSM-Belted toilet-N1-Computer-ELT406MHz-3 110V outlets-B&C15000 cabin display-deluxerefreshment center-Pax advisory system-Iridium SatCom w 2handsets-on ProParts-Protech-TAP-Elite-CescomPrice: USD 2,750,000



Marketplace

Agusta A109E Power Aerolineas Ejecutivas Tel: +5215 5414 05052

www.aerolineasejecutivas.com ✈ Email: [email protected]

Year: 2006

S/N:

TTAF: 1250

Reg:

Location: Mexico

Price Make offer

Cessna 208 CAAD Inc. Tel: +1 (305) 593 9929

www.caadinc.com ✈ Email: [email protected]

Year: 2008

S/N: 2045

TTAF: 3,656.24

Reg:

Location: Costa Rica

Total Aircraft Cycles: 6,733. Configuration: 12 Pax Seats.Aircraft Status: OPERATIONAL Info. updated to: 31-Jan-12. Out of operations 31-Jan-12. Propellers Type & Model:3GFR34C703-B. Serial Number: 100940. Propeller TBO:4000. Time Since New: 1063.30. Time Since Overhaul:1068.30. Price: $1,650,000

Cessna 208 CAAD Inc. Tel: +1 (305) 593 9929

www.caadinc.com ✈ Email: [email protected]

Year: 2008

S/N: 2050

TTAF: 3,809.54

Reg:

Location: Costa Rica

Total Aircraft Cycles: 7,065. Configuration: 12 Pax Seats.Aircraft Status: OPERATIONAL Info. updated to: 31-Jan-12Out of operations 31-Jan-12. Propellers Type & Model:3GFR34C703-B. Serial Number: 110577. Propeller TBO:4000. Time Since New: 437.14. Time Since Overhaul:437.14. Price: $1,650,000

Socata TBM 700B JT Air Ltd Tel: +44 (0) 7957 106 952

www.jtair.net/n324js ✈ Email: [email protected]

Year: 2002

S/N: 230

TTAF: 1426

Reg: N324JS


An extremely well presented and cared for Example of a SocataTBM 700 B with recent Hot Section Inspection, Socata ServiceCentre Maintained, Annual Inspection Completed Dec 2011.Complete and Original Logs. No Exceedences. Always Hangared.VAT paid in Europe. Garmin 530, KMD 850 MFD, EFIS-40 EHSI &EADI, Annual 31 Dec 2012, Gear Inspection & Long Life Enrolled,Garmin 330 Mode S, Prop 260SN, Interior Flawless, 2 Drink/Storage Cabinets, 6 Place Bose, Crew/Pac Music. Full Detailwww.jtair.net/n324js. Price: Please Call

Learjet 60 XR Aviation Advisors Int'l, Inc. Tel: +1 (941) 351-5400


Year: 2008

S/N: 338

TTAF: 281

Reg: TBD

Location: USA

The Learjet* 60 XR easily outpaces the competition intime-to-climb performance and operating altitude withoutcompromising a class-leading low operating cost. With itscutting-edge cockpit technologies and stylishly redefinedcabin space, the Learjet 60 XR across distances of up to2,405 nm. with ease. A value at $7,5000,000



Marketplace

Challenger 601-3A/ER Aviation Advisors Int'l, Inc. Tel: +1 (941) 351-5400


Year: 1992

S/N: 5121

TTAF: 8,949

Reg: N328AM

Location: USA

A "no excuses" airplane. With all major inspections justaccomplished . Fresh 6/12/24/60 /120 & 240 Monthinspection c/w in 2011. Fresh HSI on left engine. Freshgear overhaul and interior refurbishment.

Priced to sell at $3,995,000

Cessna Citation CJ2 Aviation Advisors Int'l, Inc. Tel: +1 (941) 351-5400


Year: 2003

S/N: 144

TTAF: 4,112

Reg: N144YD

Location: USA

Great history and a factory visit to do all inspections andsquawks plus new paint and interior mean a greatpedigree It is maintained on TAP Elite .The owner ismoving up after spending the money to make it perfect.Flown less than 150 hours since this work you get thebenefit. Priced at $3,195,000

Bombardier/Challenger 300 EJS Aviation Ltd Tel: +44 (0) 203 239 7585


Year: 2007

S/N: 20216

TTAF: 2424

Reg: VQ-BMJ

Location: Switzerland

EJS Aviation Ltd London exclusively presents CL 300 S/N20126 in immaculate condition, over 500K USD spent inJuly 2011 in complete high end refurbishment includingnew interior and paint, work completed by Gulfstream.Aircraft only privately used by owner, owner family andexecutives. Engines/APU/Airframe on MSP, CAMPtracking, Smart Part Plus coverage, No damage historyPrice: Please call

Beechjet 400A Beechcraft Vertrieb & Service GmbH Tel: +49 (0) 821 7003 100 and -145


Year: 1990

S/N:

TTAF: 6.165

Reg:

Location:

EU Reg, TSHSI 982 hrs (Engines), 9 Pax (opt.), HF-9000,GPS-4000A, 2x FMC-5000, TWR-850, 2x TDR-94D XPDR(ID), Rohr Thrust Reversers, RVSM + Incr. WeightModification - Top Deal!

Cessna Citation XLS Beechcraft Vertrieb & Service GmbH Tel: +49 (0) 821 7003 100 and -145


Year: 2007

S/N:

TTAF: 2.600

Reg:

Location:

EU Reg, EU-OPS, CVR (2h), HF-1050, TCAS II, CMS-400Checklist, Dual FMS UNS-1 ESP, AvVisor+, Aircell ST-3100, EASA German commerc. certif., CAMO+, fresh HSI08/2012!



Marketplace

Bombardier Global Express AEROMAR Tel: +34 (0) 618 637 666

www.aeromarformula.com ✈ Email: [email protected]

Year: 2000

S/N: 9016

TTAF:

Reg: EC-KVU

Location:

EU-OPS1, Part 21, and Eurocontrol. Airworthiness ReviewCertificate issued by ES.MG.070.RA.001, next dueDecember 04th 2012. TAG Aviation España has capabilityto issue the ARC of any Bombardier Global Express.Aircraft not involved in operational incidents or majorrepairs. Honeywell Primus 2000 6-Tube. Triple IC-800Integrated Avionics Computers. Triple NZ-2000 FMS.DL-950 Data Loader.

Eclipse 500 AEROMAR Tel: +34 (0) 618 637 666

www.aeromarformula.com ✈ Email: [email protected]

Year: 2008

S/N: 000155

TTAF: 785.4

Reg: EC-LET

Location:

Engines: P&W PW610F-A. Garmin 1000-1100 mhz GTX 33DGARMIN TRANSPONDER, DIVERSITY Honeywell N/A TAWSCOMPUTER. RVSM/BRNAV COMPLIANT. FULL EASA JAR-OPS1CERTIFIED. DUAL LEAD ACID BATTERIES. ONE 40 CUBICFEET OXYGEN BOTTLE. FLIGHT INTO KNOWN ICINGCONDITION CAPABILITY. Four place interior with aft luggagecompartment equipped with coat hangers. Cayenne LX style(leather). Asking Price: Make Offer (all serious offers will beconsidered)

Bombardier Global 5000 Vision Galveston Maritime, S.L. Tel: +7 (0) 495 222 2022


Year: 2013

S/N: TBD

TTAF:

Reg:

Location: Panama

* Limited Edition * EASA EU-Ops1, BRNav; RVSM; MNPS* Quick Access Recorder * Operations at Airports withMax. Weight Restrictions * Second Data Link * EVAS * 19inch pop-up monitor in credenza * RCA Jack port * TwoiPod Cradle installation * Electronic Floor Tracking * CabinCrew Seat LH Galley * Main entry door with handrailextension * Enviroclean system * Universal outlets *Bulkheald Deco Panels in Silk * Sideledge Transition cap

Gulfstream 200 Amjet Tel: +1 770 458 9600


Year: 2008

S/N: 184

TTAF: 395

Reg:

Location:

Total Time Since New 392 Cycles, Pratt & Whitney CanadaPW-306A 6,000 Flight Hours Between Overhauls, P&W EMSGold Engine Maintenance Program, Auxiliary Power Unit -Honeywell 36-150 Approved In-flight Operations to 40,000FT, MSP APU Maintenance Plan, 9 Passenger ExecutiveInterior, EASA / EU OPS Compliant. Description Low Time,Like New Condition, EASA EU-OPS1, ESP Gold Engines,No Damage, Always Hangared, Chance to have like FactoryNew Condition G200!

Agusta A109C Abraham Salcedo Tel: +58 (0) 416 608 5929


Year: 1991

S/N: 7659

TTAF: 1836.8

Reg: N828NN

Location: USA, FL

Fully IFR helicopter with VIP interior. Recently overhauled,painted on white with blue and silver stripes, newavionics(Garmin GNS-430AW,Garmin GNS-430W,GarminGAD ñ 42, Garmin GMX-200 MFD,Garmin GTX-330 ModeS transponder, RDS-81 Radar, Avidyne TAS-610

Price: Make offer



Marketplace

Spare Par ts•BUY •SELL •TRADECESSNA LEARJET HAWKER

WESTWIND FALCON GULFSTREAM

www.alberthaviation.com

Alberth Air Parts

Fax: +1 832 934 0011

+1 832 934 0055Par Avion Ltd

FALCONS • HAWKERS • LEARS

www.paravionltd.com

SALES • ACQUISITIONS • CONSULTING

Challenger 300 Capital Jet Group Tel: +1 703 917 9000


Year: 2006

S/N: 20091

TTAF: 832

Reg: N391W

Location: USA

This low time standout has had one U.S. corporate owner since new delivery Sept. 2006. Tastefully completed tan leather 8 passenger double club interior. Many extras, including overwater flight kit, increased baggage capacity, avionics & cabinupgrades, 16G belted lav seat. Engines/APU on MSP, airframe on Smart Parts+, significant warranty remaining.Always hangared, NDH, never chartered. No better maintained300 for the money. Call or email for additional information.

Your aircraft for sale advert will appear:

• on AvBuyer.com IMMEDIATELY

• in World Aircraft Sales Magazine (print & digital)

• in the next AvBuyer Weekly Aircraft E-mail listing

Start selling your aircraft today with ‘Sell My Aircraft’ at AvBuyer.com

Cessna Citation XLS+ James Vancil Tel: +1 (808) 250 1026


Year: 2009

S/N: 560-6017

TTAF: 1520

Reg: N7877D

Location: USA, GA

Total Landings: 873, Left Engine: 1520 TT/ 873 Cycles, RightEngine: 1520TT / 873 Cycles. APU: 400 Hours, Times as of:July 13, 2012, Warranty Program: JSSI Tip to Tail, Aircell HighSpeed Wi-Fi Onboard, One Owner Since New, No DamageHistory, Part 135 Certified, JSSI Tip to Tail Warranty, RVSMCompliant, Hi Speed Wireless Internet on Board, RockwellCollins Airshow 4000 entertainment package with large 10.4monitor and 6 individual displays, XM Radio with four channelreciever and dual DVD's. Price: Please call

Bombardier/Challenger 605 TAG Aviation S.A. Tel: +41 (0) 22 717 01 35


Year: 2010

S/N: 5827

TTAF: 578

Reg:

Location: Germany

11 pax + 1 crew jump seat, JAROPS compliant, RVSMcertified, No damage history, Well equipped

Price: $24,750,000

Cessna Conquest I King Aviation Dallas Tel: +1 (214) 352-2401


Year: 1981

S/N:

TTAF: 700

Reg:

Location: USA

700 SMOH / 700 SMOH. NEW PAINT & INTERIOR, BRAND NEWGLASS AVIONICS: Dual 750 Touch screens, G 600 Glass, Syn-Vision, Traffic, Sat-Weather, Charts, BonusTax Writeoff, fresh 2, 3 Dinspections, SID COMPLIED. Dry Country Based-no corrossionLast owner owned it 14 years-TOP condition and maintenancehistory-one of the best 425's flying today! ONLY 700 hours on3600TBO P & W -112 engines! Only 10 hours on new 4 blabe quietFan Props with new Hubs! 260 KNOTS FAST (300 MPH) thats 40KNOTS faster than a C90 and on 20% less fuel per hour than theC90! Lease or purchase



Advertiser’s Index21st Century Jet Corporation ...............................154Aero-Dienst ...............................................................144AeroSmith/Penny.....................................................133AIC Title Services.......................................................63Air 1st Aviation ..............................................................4Aircraft Cost Calculator ..............................................8Aircraft Services Group............................................69Air Fleet Leasing & Management .........................132Albinati Aeronautics SA .........................................136Aradian Aviation..........................................................77Aviation Consulting....................................................19Avjet Corporation.................................................12-15 Avpro ......................................................................16-18Banyan .......................................................................103Bauer Verlag .............................................................146Bell Aviation ..........................................................30-31Bombardier..................................................................53Boutsen Aviation ........................................................73 Bristol Associates ......................................................33 Central Business Jets .............................................155Charleston Aviation Partners ...................................45Charlie Bravo Aviation...............................................59CIBAS........................................................................125

Conklin & de Decker..................................................48Corporate Aircraft Photography .............................93Corporate AirSearch Int’l .................................83,137 Corporate Concepts .................................................55Dassault Falcon Jet Europe....................................2-3Duncan Aviation .................................................81,101Eagle Aviation..............................................................65Eagle Creek Aviation...............................................107EuroJet .......................................................................138ExecuJet Aviation........................................................61Florida Jet Sales ......................................................139Freestream Aircraft USA ..........................................71 General Aviation Services .....................................109Guardian Jet..........................................................21-23Gulfstream Pre-Owned ..........................................105Heliasset.com...........................................................127Intellijet International .................................................6-7 Japat AG...........................................................134-135J. Mesinger Corporate Jet Sales ......................24-25JetBlack Aviation ........................................................91JetBrokers..............................................................36-37 Jetcraft Corporation.....................................34-35,BCJeteffect ........................................................................27JETNET ........................................................................94

John Hopkinson & Associates ........................43,141Kaiser Air ......................................................................87Lektro ............................................................................93Mente Group ...........................................................140New Jet International .................................................67Northern Air...............................................................143O’Gara Aviation Company.................................28-29Par Avion.........................................................................5 PC Aviation ...........................................................40-41PremiAir Global Aircraft Sales ................................89Remo Investments ...................................................142Rolls-Royce .................................................................85Royal Saudi Air Force.............................................121Southern Cross Aviation ........................................113Swiss Aviation Services ................................134-135The Jet Collection................................................FC,11Universal Avionics ......................................................99VEBEG ......................................................................117VREF Aircraft Values ...................................................4Welsch Aviation........................................................145Wentworth & Affilates ...............................................75Wiley Rein....................................................................48Wright Brothers Aircraft Title...................................49

Next Issue copy deadline: Wednesday 15th August

World Aircraft Sales (USPS 014-911), August 2012, Vol 16, Issue No 8 is published monthly by World Aviation Communications Ltd, 1210 West 11th Street, Wichita, KS 67203-3517 and has a targeted circulation todecision 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 AircraftSales 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 toensure 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 viewsexpressed 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 responsibilityfor 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 byany other means, electronic, mechanical, photographic, recording or otherwise, without prior written permission of the publishers.

Whether buying or selling an aircraft our directory can help you

find a dedicated sales professional with a global network of

relationships and resources to secure you the best deal.

Find an Aircraft Dealer

The World’s leading aircraft dealers and brokers - find one today avbuyer.com/dealers

Business Aviation


When you own one of the Tri-Jets, you own the best built business jet In the sky; and the Federal AviationAdminstration has certified them with no life limits for any part of the airframe structure. They exhibit noteworthyhandling manners, superb poise throughout the operating envelope, and light but not oversensitive control feel. Inaddition, Tri-Jets have set world and national records for distance, speed, time to climb and sustained altitude.

With efficient space management the Falcon 900 Series aircraft have a larger passenger seating area than theGulfstream IV. These Tri-Jets weigh 15 tons less and are 22 feet shorter than the Gulfstream IV and provide a morebeneficial ramp presence.

The 900EX can speed across the Atlantic with all seats full at 0.84 IMN; and has 300 NM greater range than theGulfstream IV-SP. Furthermore, the 900EX can fly from London to Kansas City, Buenos Aires to New Orleans andAnchorage 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 2technology. FBW enables a MMO of .90 and enhanced low-speed handling, pitch and roll stability characteristics.The 7X can climb directly to FL 410 at ISA + 10° conditions.

Two Hundred (200)+ very high speed, ultra long range Falcon 7X business jets have been ordered!

TEL: 1.775.833.3223 INTERNET: WWW.TRI-JETS.COM E-MAIL: [email protected]

DISTINCTIVE BUSINESS JET SALES & ACQUISITIONS. INCORPORATED IN 1989

If you are considering the sale or acquisition of your business jet, call21st Century Jet Corporation today for details before making a decision.

Copyright of Leor Yudelowitz

21st Century May 19/06/2012 15:31 Page 1

General Offices

Minneapolis / St. Paul

TEL: (952) 894-8559

FAX: (952) 894-8569

WEB: WWW.CBJETS.COM

EMAIL: [email protected]

Vienna Office

Austria

TEL: +43 660 549 1099

FAX: +44 20 7900 2890

WEB: www.cbjets.com

EMAIL: [email protected]

2004 FALCON 2000 S/N 217US & EASA Certif ied, 10 PAX Interior, 100% JSSI, Less than 400 Hours

since C Inspection

FALCON 900EX EASy S/N 121Former Falcon Demo, Only 2400 Hours TT, Most Systems are Triple,

Satcom/HUD, Over $3M worth of Options, US & EASA Certif ied,Owners New 7X Has Arrived

FALCON 900EX EASY S/N 170Single US Owner Aircraft, 1175 Hours TT, MSP Gold, Honeywell EVS, Triple

IRS and FMS, 13 PAX with Fwd and AFT lav

1125 ASTRA SP S/N 493322.1 TT; Fresh C Check, new paint & refurbished interior by Astra

Service Center 08/11, MSP, CAMS, Dual Universal UNS-1E FMSw/ GPS, Increased Weight Mod

2008 HAWKER 900XP S/N 033853.31 Hours, MSP Gold, EASA / JAR Ops / FAA Certified, Standard 8 Place

Interior, Dual FMS, Dual GPS, Dual AHRS, Etc…

CITATION EXCEL S/N 5248Power Advantage Engine Program, Pro-Parts Airframe Program and onCescom Since New; Stand 8 Place Interior; Aircraft can be delivered

anywhere in the world

CITATION ENCORE+ S/N 756Single US Owner Aircraft, Power Advantage Plus with Pro Parts,

No Damage History

CITATION ENCORE S/N 646Single US Owner Aircraft, Power Advantage with recent Engine

Overhauls, Pro Parts, No Damage History

SIKORSKY 76B S/N 344Fortune 100 Owned, 8 Place Executive, Fully Loaded EFIS Cockpit, Freon

Air-conditioning

2009/2010 HAWKER 4000 S/N RC-35Upgrade and Enhancement Program Already C/W, HBC support plusprogram pre-paid up to 2000 Hours or 5 Yrs; Fully transferable 5 year

warranty expires 12/23/2014, no damage history

CBJ August_CBJ November06 24/07/2012 15:28 Page 1

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Fifty years ago, a new way of handling aircraft transactions took off—the Jetcraft way. Seeing every customer as unique. Working harder on every deal. Building a global network of expert partners and sales pros. Today, thanks to you, we’re one of the world’s top aircraft resellers. But simply cruising on our success isn’t our style. For the next 50 years, you can bet we’ll treat each deal like our first. Because “Always Ascending” is still the only way we fly.www.jetcraft.com I [email protected] I Headquarters +1 919-941-8400

When you keep

for 50 years, there’s no such thing as cruising altitude.

Aiming HigHER

2011 Challenger 3001988 Challenger 6012005 Challenger 6042000 Challenger 6042008 Challenger 6052009 Challenger 6052010 Challenger 6052012 Challenger 6052000 Citation Excel2005 Citation CJ22001 Citation X2001 Citation Excel

2003 Citation Excel1994 Citation VII2001 Citation X2009 Falcon 7X2010 Falcon 7X2013 Global 50002002 Global Express2007 Global XRS2012 Global 60001988 Gulfstream IV2001 Gulfstream V2008 Legacy 600

2003 gUlFsTREAm 550 - SN 5019One Owner - Excellent ConditionRRCC & Honeywell MSP - 14 Passengers

1998 gUlFsTREAm iVsPBest Large Jet Value Under $10M - Ready to Sell and Fly!Rolls Royce CorporateCare Engine Program

2004 FAlcon 2000EX EAsy - SN 0029Engines Enrolled on ESP Gold - APU Enrolled on MSPJAR-OPS Capable - Fresh ARCS & Inspections at Gulfstream

2002 cHAllEngER 604 - SN 5546Impeccably Maintained - Exceptionally EquippedHoneywell 36-150 APU - Recent 96 Month Inspection

2011 globAl XRs - SN 9385Very Low Total Time: 346 HoursComplete Provisions for FAR Part 135 Operations

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world aircraft sales magazine august-12

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