Product Overview

The Challenger 650 is the updated version of the Challenger 605. The Challenger 650 features 2 additional executive seats to accommodate up to 12 passengers, upgraded engines offering a higher thrust rate to reduce take-off field length, and larger appliances in the galley to assist with faster meal preparation.

As of September 2024, 80% of Challenger 650 ownership comes from the pre-owned market, the other 20% from new. 1.35% of those are currently for sale, without an exclusive broker agreement. For those on the market the average sale time is 59 days.

Brief History

The CL-600 platform has evolved over the years with the Challenger 650 being the latest model. The Challenger 604 was introduced in 1995 as a major upgrade to the Challenger 601 – it was given more powerful engines, larger fuel supply, structural improvements to its wings and tail, and a new electronic flight bag. Ten years later (2005), the Challenger 605 was introduced with an avionics and structural upgrade from the 604 designs. Ten years after that (2015) came the Challenger 650, which Bombardier first announced at NBAA in 2014 with NetJets being the launch customer. A total of 158 Challenger 650 aircraft have been built with 5 yet to deliver.

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Jetcraft, is announcing the appointment of Chris Hollingsworth and Sean O’Leary as Regional Vice Presidents (RVPs) to spearhead its operations across the United States.

As two of Jetcraft’s top Sales Directors, Hollingsworth and O’Leary’s promotions recognize their excellence in structuring some of business aviation’s most complex, cross-border transactions, with the new strategic leadership positions enhancing the company’s offer of unparalleled service, complemented by on-the-ground market intelligence.

Dan Kilkeary, SVP Sales, Americas at Jetcraft, says: “Following years of confident organic and inorganic business expansion, these appointments are another piece in the intricate global Jetcraft puzzle, strategically designed to deliver excellence for our clients.

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Jetcraft Commercial, has named Fiona O’Malley as Vice President, Fleet Acquisitions. The appointment further reinforces the company’s industry-leading expertise, with O’Malley bringing more than 25 years’ experience in operations, leasing, sales and marketing to the role.

Raphael Haddad, President, Jetcraft Commercial, says: “Fiona is a powerhouse in the world of commercial aviation, with a career that spans the world’s largest lessors, and access to a global customer network.

“At Jetcraft Commercial, we have a proven record of carrying out large, strategic fleet acquisitions and turning these into global aircraft placements to fuel aviation opportunities. Fiona’s appointment enriches our approach and we’re confident she will be an asset to our team.”

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Gerald Hooper, Sales Director, West coast U.S., Jetcraft
Location: California, U.S.

Describe a typical day or week in your role.

Typically, I’m a very early riser. I’ll get up anywhere between 6 – 6.30 am and get my coffee. Usually, my dog likes to follow me. Then the first thing I do is log on to Salesforce and check the opportunities that might have come in overnight on some of the aircraft that I’m tracking.

Tell us what you enjoy most about your role.

Every deal is different, every problem is different, and every transaction is different. I really enjoy the complexities and the variety that goes along with working with Jetcraft.

Describe what you are most proud of in your professional journey.

In my professional journey, I’m most proud of the accomplishments, and the accounts that I’ve fought for and won, and the problems that I’ve solved for my clients over the years.

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Business aviation is sometimes described as a ‘time machine’ because of the efficiency it delivers. It also contributes significantly to the economy, creating jobs, connectivity and business opportunities that would not otherwise exist.

To fully understand the benefits of business aviation, we need to consider the role it plays for individuals, corporations and economies, alongside the data that proves the industry’s value.

Individuals

Business aviation offers control, providing flexibility over travel times and destinations that aren’t always available from airlines. When time is money, business aircraft can travel to multiple locations within the same day, maximizing productivity.

The significant value buyers are gaining from their aircraft is further underlined by our data. Usage among corporate and individual buyers has doubled since 2020, while the average flying time of 184 hours per year over the last five years demonstrates the important role jets play for people with limited time.

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Product Overview

Gulfstream Aerospace officially unveiled the G700 at the National Business Aviation Association (NBAA) Convention & Exhibition in Las Vegas in 2019. The G700 was announced as the company’s new flagship aircraft, designed to push the boundaries of speed, range, and cabin comfort in the business jet market.

As of August 2024, 12% of the Gulfstream G700 aircraft were purchased new by their current owners with 87% still yet to deliver. None of the aircraft are currently for sale or under any exclusive brokerage agreement.

Brief History

The production of G700 started in 2019. In 2020 the G700 took its maiden flight from Gulfstream’s headquarters in Savannah, Georgia. As of March 2024, the G700 received certification from the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA), with deliveries to customers beginning soon after.

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With more than 30 offices worldwide, Jetcraft has the edge in negotiating global aircraft sales. Cross border transactions require a dedicated team to navigate the complexities of differing legal systems and language barriers. That’s why our in-house experts work with local counsel to confirm a timely closing, finding creative solutions when challenges arise. Throughout, protecting the interests of our clients and ensuring a fair transaction is paramount.

In this video, Gemma Downs, Corporate Counsel for Jetcraft in EMEA, shares her insights on the legalities of transacting and how buyers and sellers can avoid a deal falling through.

How do you solve the legal complexity of cross border transactions?

In order to overcome the logistical challenges when you have a buyer in one region and a seller in another, the Jetcraft legal team employ local counsel to ensure that we are available in the designated time zone when each party to the transaction is online and awake.

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Derek Long, Sales Director Mid Atlantic U.S, Jetcraft
Location: Georgia, U.S

Describe a typical day or week in your role.

A typical day for me would be reaching out to clients to give any updates surrounding acquisitions or listings that we have going on, reaching out to referral sources, as well as, reviewing the overall market to make sure we’re on top of any new changes.

Tell us what you enjoy most about your role.

The thing that excites me about the role that I am in is twofold. One, the people that we meet on a daily basis. It’s really the movers and shakers of the world. And of course, the aircraft. Beautiful machines with amazing technology.

Describe what you are most proud of in your professional journey.

The thing that I enjoy most about when I look back at my professional journey is, regardless of where you start in life, if you have hard work and determination, you can get where you want to be.

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Aviation in Latin America is experiencing significant change, with the Federal Aviation Administration (FAA) projecting robust 4.5% growth per year over the next decade. For business aviation, Ultra High Net Worth Individuals are also a rising force, with Jetcraft’s latest Market Forecast finding 14.3% of its buyers aged under 45 are from the region, a reflection of increasing wealth.

Meeting the needs of executives, entrepreneurs and communities which are significantly underserved by commercial airlines, business aviation fills a void in Central and South America that no other form of transport can.

Infrastructure gaps

Of Brazil’s 5,500 municipalities, only about 130 are covered by commercial aviation routes (ALTA). This snapshot of an acute necessity for connectivity is replicated across the continent.

With commercial flight options limited, and travel times by boat or train often rolling into days, business aviation’s flexibility and efficiency is fueling its demand across the region. Time-pressured executives conducting operations beyond borders also prefer the privacy and convenience offered by a business aviation terminal, where long queues and scheduled flight times don’t exist.

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