NetJets Europe (NJE) sold shares in 18 complete aircraft last year, representing an 80-percent increase in sales over 2003. By the end of last year the European fractional ownership program’s fleet consisted of 58 aircraft. That number is set to grow to 91, with 33 deliveries scheduled for this year.
Values among many pre-owned aircraft began to stabilize this year, with some even appreciating while others sought traction amid slipping prices. This year will close having sustained a trend toward lowering inventory, and the impetus for continued tightening remains in place. Though interest rates are rising, they are low by historical standards, enabling buyers to secure attractive financing rates.
Raytheon Aircraft will conduct six regional maintenance and operations sessions for Beechcraft and Hawker owners. The dates and locations are: February 18, Houston; February 19, Tampa, Fla.; February 20, Atlanta; March 3, Tarrytown, N.Y.; March 4, Rosemont, Ill.; and March 19, Las Vegas. In addition, the annual Hawker Jet Operators Conference will be held in Little Rock, Ark., from April 26 to 28.
The FAA has certified Cutter Aviation’s Phoenix facility to perform full-service maintenance on the Hawker 800XP, 800 and 700. Cutter has long been a Beechcraft maintenance provider, with emphasis on the King Air line. Cutter is also an authorized service center for Pratt & Whitney Canada, Williams International and Cessna models 500 through 560XL. Cutter has operations at major airports in Arizona, New Mexico and Texas.
Three months after receiving certification for its winglets on the Hawker 800, Aviation Partners has received FAA approval for installing winglets on the Hawker 800XP.
Aviation Partners said last month it received Transport Canada certification of its Hawker 800 blended winglet modification. The approval allows operators of the approximately 20 Canadian-registered Hawker 800s to consider the upgrade.
Four Embraer Legacy Executive twinjets have joined Cleveland-based fractional operator Flight Options to provide owners with a large-cabin aircraft to supplement the company’s Challenger 601 and Gulfstream IV fleets, as well as allowing Hawker 800XP owners to upgrade. The Legacy Executive is an eight- to 13-passenger business jet version of the Brazilian manufacturer’s ERJ-135 regional jet.
Fractional operator NetJets announced an order late last month for 50 Hawker 400XPs and eight midsize Hawker 800XPs, a deal valued in excess of $360 million. The order also includes an option for 50 Hawker 400XPs, bringing the total potential value to more than $600 million. In addition, discussion is under way with an undisclosed company on a long-term maintenance agreement, which was to be finalized by the end of last year.
Raytheon Aircraft teamed with AeroMech to develop an RVSM solution for most of the Beechcraft King Air fleet and has STCs for the King Air 200, 300 and 350 equipped with APS-65 or APS-80 autopilots and ADC-80 air-data computers.
One month after the Hawker 4000 won FAA certification on November 21, Raytheon announced that it agreed to sell Raytheon Aircraft to Onex Partners and GS Capital Partners for $3.3 billion (see story on page 1). The buyers plan to change the name of their new company to Hawker Beechcraft Corp., and the sale should be completed within six months of the announcement.