Jetcraft recently released its annual Market Forecast, which explores the resilience of business aviation and predicts a return to strength for the industry post-Covid-19. If you have not yet downloaded your copy, this video hits the highlights of the market forecast. Take a peek here and then download your copy of the forecast at https://www.jetcraft.com/knowledge/market-forecast/
Product Overview
The Cessna Citation CJ2 and CJ2+ (Model 525A) are an upgrade of model 525 (CJ/CJ1/M2). They vary most significantly from the Citation 525 series in respect to their markedly increased range and payload capacity. The CJ2+ is an improved version of the CJ2, featuring upgraded engines which provide a slight increase of engine thrust, range, and speed. Both the CJ2 and CJ2+ can be single pilot operated.
As of October 2020, 71% of all Citation CJ2+ aircraft were purchased pre-owned by their current owners, the other 29% new. 7.6% are for sale with more than half of those (71%) under an exclusive broker agreement. When for sale the average time on the market is 264 days.
Brief History
The first delivery of the Cessna Citation CJ2+ occurred in 2005 and the series ended production in 2014. A total of 226 aircraft were produced with 3 now retired. The CJ2+ is the follow-on aircraft of the CJ2, which started production in 2000 and ended in 2006.
Worldwide Appeal
There are 223 Citation CJ2+ jets in operation today. The majority of these (209) are wholly owned with 9 in shared ownership and 5 in fractional ownership. 4.9% are currently leased. North America has the largest percentage of wholly owned Citation CJ2+ aircraft (56%), followed by Europe (30%), and South America (9%).
Tim Fagan – Director, Industrial Design & Head of Cabin Development, Aerion Supersonic
How long have you been at your current organization?
I have been part of the Aerion team for just over a year now, based at our Reno, NV headquarters.
What are your responsibilities within your organization?
I am directing the Industrial Design activity for the AS2 development and leading the overall development of the Cabin as an overall system and user experience. This involves defining the cabin configuration (sizing , dimensions, system layout) as part of the overall aircraft integration, the various ways we can arrange and customize the cabin interior, and defining with our internal team and our supplier/partners the individual systems that comprise the cabin: seating, cabinetry, lighting, cabin technology, etc. We are also planning the tools that we will need to meet with our customers to configure and customize their own AS2 aircraft.
Describe a typical day or week in your role.
One of the exciting aspects of Aerion is the breadth and variety of activity – we are building both a company and a revolutionary aircraft from the ground-up so there’s plenty of variation and collaboration with different stakeholders every day.
Jetcraft Commercial, the commercial aircraft division of Jetcraft, has been retained to exclusively market the sub-lease of 11 Dash 8-400 NextGen aircraft from airBaltic.
Following the Latvian airline’s decision to focus its fleet solely on the Airbus A220, Jetcraft Commercial will offer an immediate sub-lease of 11 out of a total 12 aircraft listed.
Raphael Haddad, President, Jetcraft Commercial, says: “We are proud to support airBaltic in its decision on the future of its fleet, and look forward to securing placement for these aircraft in the commercial leasing market.
“With expertise in facilitating complex transactions across multiple parties and regions, Jetcraft Commercial is well-placed to support the commercial airline community, including structuring aircraft financing and leases. Our global, dynamic team is well-resourced and ready to execute this, our largest single-mandate to date.”
Jetcraft Commercial launched in 2015, capitalizing on Jetcraft’s exi...
November 19, 2020 · Chad Anderson
This month we are releasing our 5-Year Pre-Owned Business Aviation Market Forecast. With the impact of Covid-19 touching many lives and industries, including our own, forecasting the future has certainly been more challenging against this backdrop. However, it doesn’t mean we shouldn’t attempt to do so.
This year, we are focusing our predictions solely on the pre-owned market, an area often excluded from other industry outlooks and which is a particular strength of ours. Moreover, for the first time, our forecast is enriched by the introduction of trends from our own past transactional data and customer insights.
In our previous forecasts, we did predict a downturn. Although it has taken place sooner than we thought, we were prepared and, as a result, are in a stronger position than 2008, the last big downturn for our industry.
November 17, 2020
Jetcraft is releasing a 5-Year Pre-Owned Business Aviation Market Forecast – including, for the first time, trends from the company’s own past transactional data and customer insights.
The latest forecast predicts pre-owned transaction volume and value will recover to steady growth during the five-year period, in spite of the challenges this year, reaching 2,271 transactions worth $11.1B annually by 2024.
Jahid Fazal-Karim, Owner and Chairman of the Board at Jetcraft, says: “Covid-19 has affected many industries, including our own. However, business aviation has started to recover and the reduction in commercial flight activity provides a real opportunity for the sector to further expand its customer base and secure long-term prosperity.
The 2020 5-Year Pre-Owned Business Aviation Market Forecast from Jetcraft is Coming Soon. This year’s forecast will show the resilience of the business aviation industry and predict the future of pre-owned aircraft sales following the Covid-19 pandemic. Join our News email list to be notified when it is released: https://www.jetcraft.com/subscribe/.
Product Overview
The super-midsized G280 is an improved G200 model by way of a 288 nm increase in range, 4,150 pounds of added MGTOW and a reduction of 210 feet in balanced field length. This improved performance is made possible through a redesigned wing based on that of the G550 model, a larger tail and upgraded engines. Other improvements include a 17-inch longer cabin, a cabin accessible baggage compartment and an advanced avionics package. The twin-engine business jet is built by IAI in Israel and completed by Gulfstream Dallas Love Airport.
As of August 2020, 15% of Gulfstream G280 aircraft were purchased pre-owned by their current owners, the other 85% new. 8.6% are for sale with the majority of those (77%) under an exclusive broker agreement. When for sale the average time on the market is 204 days.
Brief History
In 2005 Gulfstream began designing a follow-on to the G200 Model. The new model was initially named the G250 but in 2011 was renamed the Gulfstream G280. Production began in 2011 with full certification received from Israel and the US in September 2012. The Gulfstream G280 is still in production today with a total of 215 produced, 17 of which are at the manufacturer.
Worldwide Appeal
There are 198 Gulfstream G280 jets in operation today. The majority of these (195) are wholly owned with 3 in shared ownership. 19.2% are currently leased. North America has the largest percentage of wholly owned Gulfstream G280 aircraft (84%), followed by Europe (7%) and Asia (6%).
Logan Hansen, former Jetcraft Sales Engineer
Location: Minneapolis, MN, US
How long have you been at Jetcraft?
I have been with Jetcraft since July 2019. However, prior to that, I was a summer intern in 2017.
What are your responsibilities within the global Jetcraft team?
I directly support three sales directors in North America with various tasks such as market overviews, valuations, and anything that they need help with to support our clients and move a deal forward.
Describe a typical day or week in your role.
During the pandemic, my typical day has shifted more to a remote role, but my general process remains the same. My day must start by making a cup of freshly ground pour-over coffee or else I will have a serious case of the morning grumpys. After that, I try to layout my day to figure out what needs to get accomplished to stay ahead of any deals that are progressing, followed by responding to calls and emails. After my workday has concluded, I work out with my preference towards lifting weights.