emily.synan

Product Overview

The Embraer Legacy 600 is a business jet derivative of the Embraer ERJ 145 family of commercial regional jet aircraft. The Legacy 600 is considered a “Super Midsize” category aircraft offering a three-zone cabin, a large aft lavatory with two windows and a 240 cu ft aft baggage compartment.

As of December 2019, 71% of Legacy 600 aircraft were purchased pre-owned by their current owner, the other 29% new. 8.6% are for sale with the majority of those (93%) under an exclusive broker agreement. When for sale the average time on the market is 370 days.

Brief History

The Legacy 600 was first introduced in 2000 at the Farnborough Airshow. JAA certification came in August 2002 and FAA certification followed soon after. The model was originally announced as the “Legacy 2000” and the model name “Legacy 600” was not adopted until 2005. Production ended in 2015 with a total of 175 Legacy 600 aircraft built. One has retired.

Worldwide Appeal

There are 174 Legacy 600 business jets in operation today. Most of these are wholly owned (168) with 6 in shared ownership. 8% are currently leased. Europe has the largest percentage of wholly owned Legacy 600 aircraft (31%), followed by North America (30%) and Asia (22%).

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Jetcraft, the global leader in business jet sales and acquisitions, is reporting strong activity at the beginning of 2020 as owners seek faster upgrades to new or longer-range models.

This activity can be attributed to the start of the Bombardier Global 7500 resale market, increased trade-in transactions to the company’s owned and listed inventory, and the ability to capitalize on both high and low performing regions through Jetcraft’s global reach.

Chad Anderson, President at Jetcraft, says: “The speed with which buyers are upgrading is unprecedented, with average ownership cycles now taking 4-5 years, down from the previous 7-10 years.”

Anderson cites the start of the Bombardier Global 7500 resale market as a key source of activity.  “The Global 7500 resale market has begun and energy around the product is building.  We sold one of the world’s first pre-owned 7500 jets at the end of 2019 and closed a second one this past February. We have other 7500 options coming soon, and the more units Bombardier delivers, the more acceptance this flagship seems to receive.”

As one of few companies with the ability to take in aircraft trades, Jetcraft is seeing a surge in trade-in activity right now.

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Product Overview

The Cessna Citation CJ2 (Model 525A) is an upgrade of model 525 (CJ/CJ1/M2) including a stretched cabin and wingspan along with increased range and payload capacity. The CJ2 can be single pilot operated.

As of December 2019, 91% of Citation CJ2 aircraft were purchased pre-owned by their current owner, the other 9% new. 12.3% are for sale with the majority of those (79%) under an exclusive broker agreement. When for sale the average time on the market is 319 days.

Brief History

The first delivery of the Cessna Citation CJ2 occurred in 2000 and the series ended production in 2006. A total of 243 Citation CJ2 aircraft were built with 7 retired. The CJ2+ was the follow-on aircraft that started production in 2005 and ended in 2016.

Worldwide Appeal

There are 236 Citation CJ2 business jets in operation today. Most of these are wholly owned (224) with 12 in shared ownership. 11 are currently leased. North America has the largest percentage of wholly owned Citation CJ2 aircraft (69%), followed by Europe (20%).

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Stedman Stevens, CEO, Vū Systems

How long have you been at your current organization?

I have been a part of this organization from the beginning. The first meetings were over 6 years ago on September 21, 2013.  It has been an exhilarating roller coaster ride building out an idea to a prototype, then to production scaling, and landing an international strategic partner like Saab.

What are your responsibilities within your organization?

Directing strategy, sales and product development.

Describe a typical day or week in your role.

I spend my time building relationships with employees, suppliers and customers. This includes flying at the last minute to see a customer, editing legal documents, pushing engineers to speed up, flying in King Air test flights, reviewing costs and schedules, and lying awake at night worrying about what I forgot…

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Product Overview

The Challenger 604 is a super mid-sized class aircraft introduced as a major upgrade to the Challenger 601 design. This updated model incorporated more powerful engines, larger fuel supply, completely new undercarriage, structural improvements to wings and tail, and a new electronic flight instrumentation system. The Challenger 604 is a longer-range derivative of the 601-3R with a larger fuel capacity and upgraded engines.

As of October 2019, 87% of Challenger 604 aircraft were purchased pre-owned by their current owner, the other 13% new. 6.2% are for sale with the majority of those (82%) under an exclusive broker agreement. When for sale the average time on the market is 320 days.

Brief History

The Challenger 604 started deliveries in 1995 when it replaced the Challenger 601 and was one of the first business jet designs with a super-critical wing. Several variants of the Challenger 604 have been manufactured to meet demanding missions of various military entities around the world. A total of 365 Challenger 604 business jets have been built with 10 retired.

Worldwide Appeal

There are 355 Challenger 604 business jets in operation today. Most of these are wholly owned (344) with 11 in shared ownership. 6% are currently leased. North America has the largest percentage of wholly owned Challenger 604 aircraft (66%), followed by Europe (17%), and Asia (9%).

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Tim Yue, Sales Director
Location: Hong Kong

How long have you been at Jetcraft?

I have been with Jetcraft for about 1 and a half years.

What are your responsibilities within the global Jetcraft team?

I am a Sales Director in Asia Pacific, my region covers mostly SE Asia. I maintain relationships with the customers in my region to best assist them on any of their aviation requirements. Given Jetcraft’s financial strength and geographical reach I am able to offer options that others might not be able to.

Describe a typical day or week in your role.

There is not a typical day or week in this job. Aircraft sales is very fluid and dynamic. When I am in the office I’m mostly doing intensive research, following up on existing deals that are in the pipeline and trying to close them out. When I’m on the road, which is actually the majority of my time, I’m zig-zagging around Southeast Asia meeting with clients and hoping to help by finding the right deal!

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Product Overview

The Cessna Citation XLS is the second aircraft in the Citation Excel series. It is an updated version of the original Citation Excel (Model 560 XL). Upgraded Pratt & Whitney PW545B engines allow for an enhanced powerplant performance.

As of October 2019, 64% of Citation XLS aircraft were purchased pre-owned by their current owner, the other 36% new. 3.7% are for sale with the majority of those (75%) under an exclusive broker agreement. When for sale the average time on the market is 231 days.

Brief History

The first delivery of the Citation XLS occurred in 2003 and production ended in 2008. The Citation XLS was replaced by the XLS+ model which was another upgraded model in the Excel series. A total of 330 Citation XLS business jets have been built with 1 retired and 1 still at the manufacturer.

Worldwide Appeal

There are 328 Citation XLS business jets in operation today. Most of these are wholly owned (236) with 12 in shared ownership and 80 in fractional ownership. 7% are currently leased. North America has the largest percentage of wholly owned Citation XLS aircraft (70%), followed by Europe (15%). NetJets – US has the largest fleet of Citation XLS aircraft (56) followed by NetJets – Europe with 24 aircraft, for a total of 80 in fractional ownership.

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Tom Cyr, Director, Business Development, JSSI

How long have you been at your current organization?

It will be twelve years in February.

What are your responsibilities within your organization?

Sales. I have a nine-state area in the Upper Midwest.

Describe a typical day or week in your role.

As is typical for any business development type; prospecting, pursuit and maintenance of current client relationships. Lot’s of travel.

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We want to thank all of our customers and partners for your continued support in 2019. From all of us at Jetcraft, Happy Holidays and all the best for 2020.

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