It has been a fascinating year for business aviation in Asia Pacific, bringing us into 2020 with the promise of strong growth potential in the region.

For several years, we have been discussing the possibility of Asia becoming Jetcraft’s second-largest market, overtaking Europe and behind only the US. While Europe’s use of light aircraft means it is likely to retain its number two position in terms of units, Asia’s fleet may soon surpass it in value, as buyers here predominantly choose large, long-range jets.

The reasons why larger aircraft are favored by Asian buyers are twofold. First, the infrastructure across the continent is restricted for business aviation users. For example, there are only around 250 airports in China that cater to private jets; while the US – which has a similar landmass – has more than 5,500. The need to fly longer distances between airports demands an aircraft with those mission capabilities.

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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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We spoke to several of our senior leadership team members who provided tips for flying private. Here’s what they had to say.

Share one piece of advice for a first-time private jet flyer

It is a special experience and not everybody gets to fly private, so just take it all in and enjoy the experience.
– Chris Brenner – Senior VP of Sales, Americas

Don’t plan anything, just grab a plane and decide at the last minute where you want to go, that’s the beauty of private jets.
– Jahid Fazal-Karim – Owner and Chairman of the Board

My advice when flying privately for the first time is to be courteous to everyone that is assisting you. Everybody has a function and in order to make private air travel happen it takes a lot of people in a lot of different disciplines. So you always have to remember to be courteous to those people and treat them well.
– Peter Antonenko – Chief Operating Officer

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Product Overview

The Gulfstream G500 came about as a replacement to the Gulfstream G450, flying faster, further, and carrying more passengers and baggage than its predecessor. According to Gulfstream, the G500 has a top speed of 0.925 Mach or the speed of sound. It is equipped with a ventilation system that can replace the air in the cabin with fresh air in just 2 minutes and also has active side-stick control technology.

As of September 2019, 1 of the Gulfstream G500 aircraft were purchased pre-owned by their current owner, the other 22 new. One G500 aircraft is currently for sale and is under an exclusive broker agreement. Jetcraft brokered the world’s first transaction of a pre-owned Gulfstream G500 aircraft.

Brief History

The GIV and G450 were produced by Gulfstream to offer greater safety, technology, and performance. The Gulfstream G500 has now replaced those models with even more improvements to these key factors. The Gulfstream G500 first flight was in May 2015 with service entry in September 2018. A total of 60 Gulfstream G500 business jets have been built, these serial numbers begin with a 7.

Before the G500 model, was the G-500 model. The G-500 was built from 2006 to 2008 but production ended due to poor sales. Only 9 units were produced, all of these are still in operation and their serial numbers start with a 5.  Gulfstream made this model less expensive than the G-550 by reducing the Basic Operating Weight (BOW) by 400 pounds. The G-500 is powered by two Rolls Royce BMW/RR BR-700-C4-11 engines.

Worldwide Appeal

There are 23 Gulfstream G500 business jets in operation today and all are wholly owned. 13% are currently leased. North America has the largest percentage of Gulfstream G500 aircraft (74%), followed by Asia (17%).

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Tobias Kleff, former Jetcraft Sales Director
Location: Las Vegas, NV, US

How long have you been at Jetcraft?

I have been with the company since mid July 2019.

What are your responsibilities within the global Jetcraft team?

I am responsible for the Pacific Northwest U.S. (Northern CA, OR, WA, MT, ID, WY, AK) and British Columbia, focusing on Sales, Acquisitions, and Consulting with customers in that region.

Describe a typical day or week in your role.

My day starts by checking my phone for emails and calls that came in overnight.

After the morning rush I usually find some time to have breakfast around 9:30 and go over my schedule for the day.

Within a typical week I try to balance my time amongst emails, phone calls and in person meetings. Traveling and meeting with prospects, existing clients and industry colleagues is another important part of my typical day to day. Also, daily updates with my Sales Engineer and counterpart Sales Directors throughout our 20+ offices worldwide help me stay well informed.

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Jetcraft Asia has been named as the Best Aircraft Sales Broker for the 5^th year running by the Asian Business Aviation Association (AsBAA). The awards, which are voted on by industry peers, were presented at the Icons of Aviation charity gala on the 2^nd November.

David Dixon, President of Jetcraft Asia, says: “It’s humbling to receive this award for the fifth time, and I’m incredibly proud of our team in Asia, whose hard work will ensure we can deliver the same level of service for the next five years. I must also thank the rest of the Jetcraft team worldwide for their support as well.”

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Gulfstream’s launch of its long-range G700 twinjet was the lead story at last week’s NBAA business aviation convention in Las Vegas and led to a buoyant mood at the show. In our more than 55-year history, we’ve discovered new aircraft announcements are always good news for the pre-owned market.

When buyers have options to upgrade to the next model, this moves young, high-quality aircraft into the pre-owned market. However, despite the surge in manufacturer announcements of late, sought-after young pre-owned jets remain in limited supply, compared to the high demand for them.

Having a minimal amount of these young aircraft for sale underpins demand for new models. If buyers miss out on the acquisition of a pre-owned Global 6000, or Gulfstream G550, they may not want to move away from that model; choosing instead to purchase a new version.

We can therefore see how the new and pre-owned markets share a valuable interrelationship, with rising activity in one spurring interes...

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