Product Overview

The Cessna Citation Sovereign was designed to provide overall excellent performance while allowing exceptional comfort for passengers. It was first introduced as a high-performance jet to plug the gap between the Excel/XLS and Citation X, but its claim to fame is that it can take-off and land at short distances thanks to a moderately swept high-aspect ratio wing.

As of August 2018, 58% of the Citation Sovereign aircraft were purchased pre-owned by their current owners, the other 42% new. 3.7% are for sale with half of those (54%) under an exclusive broker agreement. When for sale, the average time on the market is 344 days.

Brief History

The Cessna Citation Sovereign was first unveiled in 1998 at the NBAA Annual convention in Las Vegas, Nevada and the first flight took place in February 2002. FAA certification was awarded in June 2004 and customer deliveries began later that same year. Production of the Citation Sovereign ended in 2013 as the Sovereign+ began deliveries. A total of 350 Citation Sovereign business jets were built, 1 is retired, 1 is at the manufacturer.

Worldwide Appeal

There are 348 Sovereign aircraft in operation today. Most of these are wholly owned (288) with 16 in shared ownership and 44 in fractional ownership. 9.5% are currently leased. North America has the largest percentage of wholly owned Sovereign aircraft (72%), followed by Europe (11%) and South America (6%). NetJets has the largest fleet of Sovereign aircraft with 44.

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At the AsBAA Icons of Aviation Awards Charity Gala Dinner on November 10, 2018, Jetcraft Asia was awarded the Best Aircraft Sales Broker 2018 for an unprecedented fourth year in a row. Presented by the Asian Business Aviation Association (AsBAA), the annual awards are voted on by industry members.

"We would like to thank our industry peers and all members of AsBAA for their vote of confidence in Jetcraft for the past four years and beyond," said Jetcraft Asia President, David Dixon. "We will continue to work hard to meet and exceed your expectations and to stay focused on our core strengths – delivering the best in the business of aircraft sales, acquisitions and trading. I am personally humbled and honored by your support."

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Forbes.com, November 2018
Story by Bridget Arsenault

With more than 20 offices worldwide and 55 years of experience Jetcraft is one of the true leaders in private aviation. With new jet share companies disrupting the market – creating an Uber-like marketplace in the elite world of private travel, Jetcraft continues to offer its experience and expertise to that top percent looking to purchase a private plane. Having accrued unparalleled industry expertise and understanding of the varied global markets in which they operate, has made Jetcraft a leader in aircraft sales, acquisitions and trades. We spoke with the company’s current owner Jahid Fazal-Karim to understand the nuances behind what he does and how he’s built such a successful company.

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How findings from our 10-year market forecast reflect real-world trends in the private jet market

This year’s NBAA-BACE trade show in Orlando was marked by an industry-wide feeling of confidence.

The show coincided with our fourth annual 10-year business aviation market forecast, which reaffirms the optimism felt by show exhibitors and attendees. According to the forecast, steady growth in the private jet industry is set to continue, with 8,736 unit deliveries representing $271 billion in revenues (based on 2018 pricing) anticipated over the next 10 years.

Now that we’ve successfully navigated through our industry’s most difficult period, OEMs are again using trade shows to make a statement about their place in the industry. In Orlando, Embraer took early news headlines with the announcement of two new aircraft, the Praetor 500 and 600, both of which made their world debut on the hot tarmac of the static display.

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Product Overview

The Challenger 300 is a mid-size business jet offering long-range capabilities in a typical eight-passenger cabin and promising passenger comfort, performance, reliability, and good operating economics. In the 1990’s business jet manufacturers envisioned the super-midsize category and the Challenger 300 was Bombardiers response to that vision.

As of August 2018, 50% of the Challenger 300 aircraft were purchased pre-owned by their current owners, the other 50% new. 4.8% are for sale with the majority of those (82%) under an exclusive broker agreement. When for sale, the average time on the market is 149 days.

Brief History

The Challenger 300 was launched at the Paris Air Show on July 13, 1999, at which time it was called the Bombardier Continental. It was a clean sheet design assembled in Bombardier’s Learjet plant at Wichita Mid-Continent airport, Kansas. The jet was renamed in September 2002 after much debate about which category (Learjet, Challenger, or Global) the new aircraft fit into. FAA type certification was received in June 2003, with entry into service in January 2004. A total of 457 Challenger 300 aircraft were manufactured, 2 are retired and 1 is at the manufacturer.

Worldwide Appeal

There are 454 Challenger 300 aircraft in operation today. Most of these are wholly owned (412) with 9 in shared ownership and 33 in fractional ownership. 11% are currently leased. North America has the largest percentage of wholly owned Challenger 300 aircraft (84%), followed by Europe (8%). Flexjet has the largest fleet of Challenger 300 aircraft (32).

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Next 10 years predicted to outpace previous
decade on both units and revenues.

Jetcraft, the global leader in business aircraft sales and acquisitions, is today releasing its fourth annual 10-year business aviation market forecast.

The annual market forecast reaffirms that steady growth in the private jet industry is set to continue, with predictions of 8,736 unit deliveries over the next 10 years, representing $271bn in revenues (based on 2018 pricing). North America will once again take the lead, accounting for 60% (5,241) of predicted new unit deliveries over the forecast period, with Europe expecting 18% (1,572), and Asia-Pacific 13% (1,136).

Jahid Fazal-Karim, Owner and Chairman of the Board at Jetcraft, says: “2018 has been a real turning point for business aviation, as we have now successfully navigated through our industry’s most difficult period. This year’s forecast predicts the continuation of our current business cycle of steady and healthy growth, driven by an increase in wealth creation and the demand for larger and more expensive aircraft.”

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The President of Jetcraft Australia and New Zealand, Mick Doohan, was recently featured in The Australian – Wish Magazine. Doohan spoke about aircraft in Australia, the business case for buying or hiring your own plane, and also how much fun they can be.

Wish Magazine, October 2018
Story by Stephen Corby, portrait bu Vanessa von Zitzewitz

You might think of private jets as the sleek, chic and salaciously expensive playthings of the über-mega-rich, but they’re actually much more than that. According to Mick Doohan – living legend of motorcycle racing, five-time world champion and these days the man you need to talk to in Australia if you want to buy, borrow or sell a personal aircraft – they are also something Dr Who would appreciate.

“It’s a time machine, basically,” Doohan says, chatting by phone from his Monaco home. “Really, what a private aircraft gives you is time: it’s the freedom to fly on your schedule and to save time with things like check-in, and the simple fact that you’re not waiting for the aircraft, the aircraft is waiting for you.

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In today’s global business environment, more and more customers are preferring larger, long-range and ultra-long-range aircraft. Newly launched aircraft programs, or those currently in development, are almost exclusively catering to the rising demand for wide-body models.

The desirability of an ultra-long-range model is evident from its name. These aircraft are desirable tools to facilitate our increasingly globalized world of business.

So, which of these aircraft are worth considering for your next purchase? Here’s a preview of seven new jets scheduled to enter the market within the next five years…

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Chris Strong, Senior Vice President, Conventions and Membership, NBAA

How long have you been at your current organization?

This is my 10^th year with NBAA

What are your responsibilities within your organization?

I work within a pretty wide swath of the NBAA team, including primary responsibility for our three large annual conventions, NBAA-BACE (held each year, currently in either Orlando or Las Vegas), EBACE (held annually in Geneva, Switzerland) and ABACE (held each year in Shanghai, China). Additionally, I am responsible for strategic direction for membership and member programs.

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