Nextant On Target With 400XTi And G90XT
Nextant Aerospace comes to EBACE with its “as-new” 400XTi remanufactured business jet to promote the aircraft and to highlight developments with its next product, the G90XT. Based on the Hawker Beechjet 400A/XP, the 400XTi is a zero-lifed machine that has been remanufactured with new engines, avionics, cabin and aerodynamic improvements to match or exceed its new-build competitors in terms of performance and cabin comfort, yet at around half the price.
Nextant’s 400XTi has gained considerable traction in the marketplace, and the company has now delivered 42 aircraft to eight countries. By the end of the summer 400XTis will be operating in five European countries. Nextant has achieved around 20 percent penetration of the Beechjet fleet and is pursuing further sales in many parts of the world.
Production is currently running at 24 aircraft per year, although it could rise to more than 40 if required. Market response to the 400XTi has been strong, and for now there is no perceived need for further improvement. “We’re very pleased with what we’ve done so far,” affirmed Nextant president Sean McGeough.
Meanwhile, the company is now extremely busy with the development of the G90XT, which applies the Nextant remanufacturing concept to the Beechcraft King Air C90. The potential market is vast, with around 1,500 such aircraft operating around the globe. Key changes include General Electric H75 engines, Garmin G1000 avionics and cabin/aerodynamic modifications.
Nextant has taken delivery of the King Air C90 that will serve as the prototype for the G90XT, flying it for the first time last week. The aircraft is going to Seattle, Washington, initially for flight tests to establish baseline figures for the aircraft. Next month the two H75 turboprops will be installed, the powerplants having already been received from General Electric’s Prague factory.
After initial engine tests additional elements will be added, including the new avionics suite, cabin interior and aerodynamic refinements. They will be approved as an STC amendment. By around the end of July, possibly in time for the EAA AirVenture show at Oshkosh, Nextant hopes to have proved the performance benefits offered by the G90XT. At that point the company will open the orderbook for the aircraft, which has already been the subject of great interest since its launch last October, according to Nextant. First deliveries are scheduled for the end of this year.
Initial G90XT deliveries will come from the company’s facility in Cleveland, Ohio. However, the worldwide potential of the G90XT is considerable, and Nextant is in discussions with various companies that could undertake the remanufacturing work in various parts of the world, based on Nextant-supplied kits.
For the time being the company is focused on its 400XTi and in bringing the G90XT to market. An announcement regarding further remanufacturing projects in other market segments could be made around the turn of the year. Suggestions as to what that platform might be have been received by Nextant from companies in several countries. “There is lots of interest coming in from other companies,” reported McGeough. “The remanufacture business could be very good for other parts of the world.”
Nextant Unveils Finance Plan
Nextant Aerospace lifted the lid this week on a new financing plan that targets the $2-10 million aircraft market. This has been underserved in recent years as banks have veered away from smaller-value financing, citing that legal and other fees remain similar regardless of the asset value. This in turn means those fees consume a greater proportion of the finance required, leaving a greater exposure to risk. Furthermore, banks have also been cautious to lend outside of the U.S. and European markets. Combined, these factors have hindered sales of aircraft in the price bracket.
Nextant Finance aims to remove some of that logjam by offering a range of flexible financing packages for customers wishing to acquire the 400XTi and G90XT. Terms are available from two to 20 years, and a variety of lease types are available. Fixed or floating rates are offered, with fully amortizing or balloon payments. Sean McGeough, Nextant president, remarked: “This will allow more customers around the world to realize the vast benefits of Nextant remanufactured aircraft to their businesses. Nextant Finance is ideal for commercial fleet operators who have strong cash flows but lack the kind of balance sheet many banks require.”