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EBACE 2013 and beyond
The 2013 EBACE proved another successful event. It was buzzing with nearly 12,500 visitors, 460 exhibitors and 52 aircraft on the ramp. Rapidly becoming a world event rather than just Europe, with over half the exhibitors from outside of Europe and a great proportion of visitors flocking from further afield due to the excellent location in the Palexpo next to Geneva’s airport. The ramp has easy access from the exhibition halls, perfect for viewing all the different aircraft types on display, helping you make an easy comparison between aircraft types.
Show news included a number of launches. Bombardier came out with the Challenger 350, promoted by John Travolta on the test pilot team. Pilatus unveiled the new PC-24 twin jet. HondaJet announced the fifth jet joined the test flight program in an attempt to step closer to certification. Nextant released a model improvement with the 400XTi. In addition to these a new G650 was on hand for viewings on the ramp.
The Bombardier Challenger 350 proved popular with show goers. Based on the 300 with a 9 foot extended wingspan due to the new winglets, this increases MTOW by 1750 pounds over the Challenger 300 to 40,600 pounds. It also carries 750 pounds more fuel, pushing the NBAA IFR range to 3200nm versus 3065nm on the Challenger 300. It carries new Honeywell HTF7350 engines with 500 pounds more thrust while burning no more fuel. Larger windows and a redesigned interior create a more comfortable flying experience for the passengers. The price will weigh in one million more than the 300 at $25.8m. The super mid-size jet hopes to enter service May next year.
News of the Pilatus PC-24 twinjet is an exciting development but does add to a full category of jets of its size. It will be powered by Williams FJ44-4A engines, producing 15,124kN of thrust, creating a max speed of 425 knots and a range of 1950nm. The flight deck will contain four 12inch screens and Honeywell primus Apex system with smartview synthetic vision. There will be the option to complete flight planning procedures on the screen itself in graphical form. It will seat 8 passengers in a standard configuration, have an extra large cargo door with pressurized baggage compartment. Scheduled roll out is planned for a Q4 2014 maiden flight and FAA/EASA certification early 2017.
With endless delays HondaJet are trying to battle the setbacks and have added a fifth jet to the test flight program. With reports of in excess of 100 ordered they have been thanking their customers for their patience as deliveries cannot be expected for some time yet. Hondajet are hoping for engine certification late 2014 and EASA cert mid 2015. The aircraft will be $4.5m new.
Nextant launched a model improvement for the 400XT with the 400XTi. They have created a more spacious and quieter cabin, improved the cockpit and installed drag-reducing “shark fin” winglets, the price will be $4.95m. The Safe Flight Autothrottle will also be available for retrofitting on 400XT models.
So the all important question is what will happen to the market place? There are mixed feelings on the speed of recovery but essentially most are agreed that there will be a staggered response across the globe.
Bombardier suggests that leading business aviation indicators show gradual improvements since the beginning of this decade but that there is disparity in recovery, with North America set for growth but Europe is still under pressure and Asia has slowed its expansion.
JetNet Director Rolland Vincent is optimistic about the outlook for business aviation, in particular of the 36% of projected increase in business jets flying in the next 10years. He expects about 1741 jets (around 19% of expected deliveries) to be delivered to European customers. Meaning the European business jet fleet will grow 56% by the end of 2022.
Based on operators future purchase plans there’s evidence of a greater preference for large aircraft, markets in developing countries have been “shaping the industry’s growth, backlog and portfolio mix,” adds Honeywell.
Bombardier concludes that “While market leading indicators are mixed, the overall trend is positive. As confidence returns to world markets, aircraft orders and backlogs will expand and deliveries will accelerate.”
Quietly positive indicators on all sides suggest we may have passed the low point, inventories are dropping in all aircraft sizes but to some degree its still a buyers market. In all previous recessions the USA has always led the world back into growth with business jet sales. The indicators suggest that this time will be no different, onwards and upwards, lets get the world flying again.
Debut of new Citation X first production unit
Today (April 15th 2013) Cessna Aircraft Company has rolled out its first production unit of the new Citation X at the company's Wichita manufacturing facility. The new aircraft was first announced at NBAA in 2010. The fastest civilian aircraft in the world, capable of a top speed of Mach 0.935. "Speed is the reason for flight. It was true for Clyde Cessna in 1927, and it's true today," said Scott Ernest, Cessna CEO. "The Citation X is the perfect aircraft for customers wanting to move faster, be more efficient and get where they need to be more quickly than ever before."
Employees at Cessna's Wichita manufacturing facility celebrated the rollout. "It is exciting to see this new Citation X roll out the door. The improved capability and features of this aircraft have been received very favorably, especially with the new maximum speed of Mach 0.935. Being part of the fastest business jet in aviation is exciting for Cessnans," said Kelly Reich, business leader for the Citation X. "Cessnans take great pride in this aircraft. It is especially satisfying to see the improvements in performance and features that have been incorporated in the new Citation X."
For more information on the full product range of Cessna Citation's please contact us.
Signs of Recovery
There have been numerous news reports on the state of the bizav market today however things do seem to be looking up. Bomardier have reported a significant reduction in business aircraft order cancellations during the second quarter of 2010 with only 12 cancellations in comparison to the 80 cancellations for the same quarter of last year. They had been hopeful that the market recovery would be better by this point however are feeling positive in the improvement of new business. Gulfstream are seeing large cabin orders “about on track” at 18months whilst the order book for mid-cabin Gulfstream are at modest but encouraging levels.
As for pre-owned jets, latest comments from JPMorgan inform us “the inventory of in-production models edged up 11.8 percent in August versus 11.6 percent in July with all categories showing increased inventories. This is believed to be a bump in the road and expect that inventories will continue to decline gradually.” Average asking prices for pre-owned jets increased 1.3 percent in August reaching $11.4 million. There is a fair amount of caution out there with elevated used inventories, attractive used pricing and macro uncertainty continuing to hold down demand. This seems to be affecting the light to mid sized jet market whilst demand for large cabin jets continues at a steady pace.
On flight activity there has been a significant increase since the same quarter of last year showing a 7.7 percent improvement. TraqPak data (from the US) show midsized jet activity soared by 8 percent, light jets ticked over at plus 0.6 percent and large cabin jets fell by 2.4 percent with fractional operators and corporates leading the increase in flying. It seems that those companies that are innovating are keeping the market afloat, for example no frills air taxi service Blink have been leading the way forward with a fresh approach to enable companies to fly private and keep the costs down.
To sum up, we are not out of the water yet, however there is the essence of improvement in most sectors of the market and with fight activity on the up it is only a matter of time before orders start rolling in.
Re-registration & Renewal of Aircraft Registration
The FAA has issued its Final Rule regarding the Re-Registration and Renewal of Aircraft Registration. The Final Rule will be effective on October 1, 2010. All U.S. registered aircraft will need to be re-registered. Failure to comply with the rule will result in the cancellation of the United States registration of the aircraft. Full details can be read on the FAA website, follow this link for details, http://edocket.access.gpo.gov/2010/2010-17572.htm
According to the schedule for re-gistration (see table below) the first ‘batch’ is due by 31 Jan 2011. The owners will be required to give fresh information to the FAA and re-register every three years following this initial re-registration.
|Re-registration and registration expiration|
|Certificate issued (Any year)||Certificate expires||Re-registration required|
|March||March 31, 2011||Nov. 1, 2010–Jan. 31, 2011|
|April||June 30, 2011||Feb. 1–April 30, 2011|
|May||Sept. 30, 2011||May 1– July 31, 2011|
|June||Dec. 31, 2011||Aug. 1– Oct. 31, 2011|
|July||March 31, 2012||Nov. 1, 2011–Jan. 31, 2012|
|August||June 30, 2012||Feb. 1– April 30, 2012|
|September||Sept. 30, 2012||May 1– July 31, 2012|
|October||Dec. 31, 2012||Aug. 1– Oct. 31, 2012|
|November||March 31, 2013||Nov. 1, 2012–Jan. 31, 2013|
|December||June 30, 2013||Feb. 1– April 30, 2013|
|January||Sept. 30, 2013||May 1– July 31, 2013|
|February||Dec. 31, 2013||Aug. 1– Oct. 31, 2013|
Please contact us if you require more information on this point.
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