emily.synan

Product Overview

The Citation III, a midsize cabin business jet with a 2,054 nm range, was the first of Cessna’s model 650 series. It was designed for optimal speed, utilized light weight composites and smooth surfaces to cut down on drag, and featured an entirely new fuselage mated to a super-critical swept back wing and a T-Tail.

As of May 2018, 100% of the Citation III aircraft were purchased pre-owned by their current owners. 21.2% are for sale with more than half of those (64%) under an exclusive broker agreement. When for sale, the average time on the market is 493 days. Over the past 12 months, the Citation III has averaged 3 full retail transactions per month.

Brief History

Cessna set out to build a private jet with impressive range and speed while keeping costs low and performance high, and thus the Citation III was created. The new model symbolized several milestones in the Citation program – it was Cessna’s entry into the high speed, medium corporate jet market, their first model to utilize Garrett (now Honeywell) and not P&W engines, and was a departure from the original structural design of all previous models. At the time of release the Citation III had the longest range and the fastest overall cruise speed of any midsized jet.

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Product Overview

The Gulfstream G550 is a large-cabin, ultra long-range business jet traveling at ranges in excess of 6,700 nm. It features up to four distinct living areas, three temperature zones, and a choice of 12 floor-plan configurations with seating for up to 19 passengers. The G550 is equipped with the Gulfstream PlaneView cockpit, based on the Honeywell Primus Epic architecture and display system. The PlaneView cockpit presents critical flight information on 14-inch (36 cm) liquid crystal displays arranged for easy interpretation. The latest in Head-Up Display technology integrated with the next-generation Gulfstream Enhanced Vision System (EVS) II. The aircraft is also equipped with commercial and military communications equipment to provide secure voice and data capability.

As of May 2018, 64% of the Gulfstream G550 aircraft were purchased new by their current owners, the other 36% pre-owned. 4.3% are for sale with the majority of those (79%) under an exclusive broker agreement. When for sale, the average time on the market is 133 days. Over the past 12 months, the Gulfstream G550 has averaged 7 full retail sale transactions per month.

Brief History

The G550 traces its roots to the Gulfstream GV which was the first ultra-long-range large-cabin business jet produced, which began delivering to customers in 1995. Most notable about the G550 is its 6,708 nm range, made possible in part by the Rolls Royce engines powering it. Gulfstream acquired G550 Type Certification in August 2003. In 2003 the National Aeronautic Association (NAA) awarded its prestigious Collier Trophy to the Gulfstream G550 team for technological and safety advances. A total of 581 Gulfstream G550 aircraft have been manufactured with 552 in operation worldwide.

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Matt Thurber, Editor-In-Chief, AIN Publications

How long have you been at your current organization?

18 years

What are your responsibilities within your organization?

As editor-in-chief of AIN Publications, I’m responsible for all editorial content in our various products. These range from AIN’s monthly print magazine, Aviation International News, to our business aviation, air transport, and defense e-newsletters, online content, and show daily issues.

Describe a typical day or week in your role.

There is no typical day for this job, and what I do depends a great deal on my travel schedule. When I’m in the office, I write, edit, and proofread stories, consult with my colleagues on upcoming projects, work with AIN’s management team on business development and strategy, and deal with normal office challenges. I travel frequently to visit the companies that we cover in AIN’s publications, including to fly new and interesting airplanes, and during these trips I try to visit as many people as possible to learn what’s new in our industry.

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Product Overview

The Learjet 40XR is an upgraded version of the Learjet 40 with improvements in hot-and-high performance, climb rates and faster long range cruise speeds resulting in a range of more than 240 nm. The increases are due to the upgraded Honeywell “BR” engines from the “AR” used on the Learjet 40.

As of February 2018, 70% of Learjet 40XR aircraft were purchased pre-owned by their current owners, the other 30% new. 10.8% are for sale with the majority of those (90%) under an exclusive broker agreement. When for sale, the average time on the market is 275 days.

Brief History

Derived from the Lear 45, the Learjet 40 and 40XR are 24.5 inches shorter and have a maximum take-off weight that is 150 lbs. lighter. These two characteristics increase performance and lower operational costs. The Lear 40 aircraft received FAA certification in July 2003, as an amendment to the Type Certification of the Lear 45, and ended production in 2009. The Learjet 40XR went into operation in 2005 and ended production in 2012. A total of 93 Learjet 40XR aircraft have been manufactured with all of them currently in operation.

Worldwide Appeal

There are 93 Learjet 40XR aircraft in operation today. Most of these are wholly owned (89), with 2 in fractional ownership and 2 in shared ownership. 10.8% are currently leased. North America has the largest percentage of wholly owned Learjet 40XR aircraft (76%), followed by South America (18%).

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Denise Siedow, Market Analyst, Jetcraft
Location: Minneapolis, MN, US

How long have you been at Jetcraft?

I have been with Jetcraft since October 2008, so nearly 10 years.

What are your responsibilities within the global Jetcraft team?

My first position with Jetcraft was an administrative role. I’ve carried responsibilities from that position into my current role as Market Researcher. I also provide support to my sales team by facilitating maintenance program transfers and offering general program support.

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Dennis Bolton, SVP – Head of Equipment Management, Wells Fargo Equipment Finance

How long have you been at your current organization?

I have been with Wells Fargo since August 2005 by way of merger with Wachovia. Prior to 2005, I spent 16 years at Fleet Capital and later Banc of America Leasing, which merged in 2003. I just started my 29^th year in the business.

What are your responsibilities within your organization?

As Head of Equipment Management, I am responsible for all facets of equipment appraisal/valuation, portfolio management and equipment remarketing across all of Wells Fargo Equipment Finance’s business lines. Additionally, my group helps support our colleagues in these areas across the entire bank footprint.

Describe a typical day or week in your role.

My days usually start early sometime between 5 and 6:30 a.m. depending on the day. The first couple of hours are quiet and dedicated to strategic initiatives, focused, intense projects and general catch-up. Once the day begins, it’s a series of meetings and calls around business strategy and new business initiatives, portfolio performance, compliance and regulatory requirements, pending accounting and policy changes, integration projects and assisting my teams achieve their goals and problem solve.

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Product Overview

The Cessna Citation X, a medium-sized long-range business jet, marked the launch of the all-new 750 series, taking over the well established 650 series. It was considered a completely new aircraft, made from scratch in all major aspects and not an upgraded version of previous Citation Jet aircraft.

As of February 2018, 75% of Citation X aircraft were purchased pre-owned by their current owners, the other 25% new. 10.4% are for sale with more than half of those (69%) under an exclusive broker agreement. When for sale, the average time on the market is 373 days.

Brief History

The Citation X was announced at the NBAA Convention in October 1990 with the first prototype taking flight in December 1993. The first delivery of the Citation X occurred in July 1996 to golfer and devoted Cessna customer, Arnold Palmer. A total of 315 Citation X aircraft have been manufactured with 309 currently in operation worldwide. An updated version called the New Citation X+ was launched in 2010 featuring upgraded engines and advanced avionics systems. Deliveries of the new Citation X+ started in 2013 and there are currently 27 in operation worldwide.

Worldwide Appeal

There are 309 Citation X aircraft in operation today. Most of these are wholly owned (276), with 26 in fractional and 7 in shared ownership. 11% are currently leased. North America has the largest percentage of wholly owned Citation X aircraft (88%), followed by Europe (5%).

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The general aviation community in the U.S. is abuzz with discussions of ADS-B and the 2020 deadline. As the mandate draws near, what do you need to know?

First, many aircraft need to be upgraded in order to comply, so it is recommended that flight departments schedule the upgrades now in order to be sure that everything is completed in time to remain compliant. It is estimated that there are 105,000* aircraft that are not yet equipped, so the maintenance shops will soon become overwhelmed.

Next, be sure to make an appointment with a trusted service center that can help figure out what needs to be installed or upgraded, and can complete it in a reliable and timely manner. It is advised that operators check that their ADS-B Out solution is Version 2, particularly early-equipped aircraft that were installed with Version 0 or 1 systems. Complicating the issue is that Version 2 is not currently required for operations in all international regions of airspace, so it is possible that an...

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Product Overview

The Challenger 605 was introduced as an upgrade to the Challenger 604. With the success of the Challenger line, Bombardier continues to use the general design while offering updated technology and improvements. The 605 offers larger and higher positioned windows, an upgraded galley, a revamped cabin and cockpit, and upgraded avionics, along with an increased payload.

As of September 2017, 42% of the Challenger 605 aircraft were purchased pre-owned by their current owners, the other 58% new. 6.3% are for sale with the majority of those (89%) under an exclusive broker agreement. When for sale, the average time on the market is 251 days.

Brief History

Bombardier introduced its Challenger 604 in 1995 as a major upgrade on the Challenger 601 design that incorporated more powerful engines, larger fuel supply, a completely new undercarriage, structural improvements to its wings and tail and a new avionics system. Ten years later the Challenger 605 was introduced with upgrades to the 604 design. Production ended in 2016 with a total of 290 Challenger 605 aircraft manufactured.

Worldwide Appeal

There are 287 Challenger 605 aircraft in operation today. Most of these are wholly owned (281) with 3 in shared and 3 in fractional ownership. 9.4% are currently leased. North America has the largest percentage of wholly owned Challenger 605 aircraft (58%), followed by Asia (21%), and Europe (17%).

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