“A strong recovery of the pre-owned business jet market full-sale transactions is under way in 2012 and should result in a new record peak activity, surpassing that last seen in 2007,” business aviation market information firm JetNet said yesterday in its latest market update. The compounded annual growth rate for sales transactions of used business jets has averaged 12.2 percent, it noted.
AINalerts » December 4, 2012
Teterboro, N.J.-based Dassault Falcon Jet–the wholly owned subsidiary of Dassault Aviation that is responsible for Falcon sales and service in the Americas, Pacific Rim and China–celebrated its 40th anniversary on Friday. On Dec. 1, 1972, executives from Pan American Airways and Dassault Aviation signed an agreement to form what is now known as Dassault Falcon Jet to expand the U.S. market with Pan American, the launch customer for the Falcon 20.
Hawker Beechcraft, which reported a $44 million net loss and $95 million negative cash flow in October, followed that filing with the bankruptcy court by reporting in a separate filing a sales forecast of $1.9 billion in 2013 as a new, standalone company following its emergence from bankruptcy in February.
A government-industry aviation rulemaking committee (ARC) that addressed inconsistency in regulatory interpretations issued its final report to the FAA on Friday. It concludes that the agency’s Flight Standards Service (AFS) and Aircraft Certification Service (AIR) offices should review all guidance documents and interpretations to identify and cancel outdated material, and cross-reference material to the applicable rule.
Marshall Aerospace is entering the pre-owned aircraft sales sector and expanding its executive charter division as part of a relaunch of its business aviation division. Under a new brand called Jetability, the Cambridge, UK-based group is also offering aircraft maintenance, ground handling and management, as well as concierge support and limousines.
San Francisco-based XOJet and TWC Aviation announced an alliance today under which TWC joins XOJet’s exclusive platinum partner network and TWC becomes a “preferred provider” for XOJet clients interested in aircraft ownership, management or private jet sales and acquisition services. Additionally, XOJet plans to leverage the TWC Aviation charter fleet of large-cabin business jets throughout North America and Asia. TWC manages more than 50 business aircraft throughout the U.S. and abroad, with offices in San Jose, Calif., Los Angeles and New York.
Quest Aircraft named Samuel Hill as its new CEO, the Sandpoint, Idaho-based turboprop manufacturer announced today. Hill has more than 40 years of aviation experience, most recently with Honda Aircraft, from which he retired earlier this year. Before joining Honda, he spent 10 years with Embraer Aircraft in key leadership positions, including president and vice chairman, and was responsible for starting Embraer’s corporate aircraft division. Dave Vander Griend, who had been serving as Quest’s interim CEO since mid-2011, will continue in his role as chairman of the board.
Fractional aircraft provider Flight Options and Sentient Jet announced an agreement under which Sentient Jet will be a retailer of Flight Options’ JetPass 25-hour jet card. Through the agreement, Sentient Jet will market the Flight Options jets-specific JetPass side-by-side with its open-fleet Sentient Jet 25-hour card. Sentient and Flight Options are sister companies since parent company Directional Aviation bought Sentient in May.
Embraer’s Legacy 600/650 program reached a significant milestone with the delivery of the 200th Legacy business jet, in this case a Legacy 650 that was handed over to China’s Minsheng Financial Leasing last week at Embraer’s headquarters in São Paulo, Brazil. This aircraft, one of the 13 Legacy 650s that Minsheng ordered last October, will be used by an undisclosed Chinese customer. Minsheng also has an outstanding order for three Embraer Lineage 1000 bizliners.
Piaggio Avanti fractional provider Avantair closed on $2.8 million in new funding yesterday via the issuance of senior secured convertible notes. The notes have a three-year term and an interest rate of 2 percent. In addition, the company restructured its existing aircraft financing arrangements with Midsouth Services, reducing its monthly lease payments by more than $1.8 million during the next 15 months and extending the maturities on two aircraft.