As Rachel Raymond from West Orange, N.J., tells it, the day last August when she flew on a private jet ranks as one of the most unreal experiences of her life. Ms. Raymond, and her husband, Daniel, along with their three children, took a flight in a seven-seat jet, a Cessna Citation III, complete with two pilots and a well-stocked bar, from Westchester County Airport, in White Plains, N.Y., to upstate Saratoga Springs. The Raymonds had decided to take an impromptu trip to Lake George because they had found a last-minute deal where they could fly on that route for only $500.
According to Jahid Fazal-Karim, owner and chairman of the board of Jetcraft, the sweet spot for buying a plane is between three and five years old in terms of value. Fazal-Karim knows what he is talking about, having overseen more than 500 transactions worth over $10 billion in value since he started his career at Jetcraft in 2008. He is often referred to as one of the most powerful players in business and private aviation. Jetcraft
Over the past several years, global economic conditions led to record levels of pre-owned private aircraft listed for sale, ranging from smaller, propeller-driven airplanes to the largest, most advanced, and most luxurious intercontinental business jets. This truly resulted in a ‘buyer’s market,’ with purchasers able to select from a high number of quality aircraft, often for comparatively low prices.
The 91,000 lb (41,000 kg), 6,750 nmi Gulfstream G550 was selected for the IAI EL/W-2085 Conformal Airborne Early Warning AESA radar for Italy, Singapore and Israel (which also has IAI Sigint G550s) while L3 Technologies transfers the U.S. Compass Call electronic-attack system to the G550 CAEW-based EC-37B, like the NC-37B range-support aircraft, and will modify others for Australia’s AISREW program, Northrop Grumman proposes the G550 for the J-Stars Recap;
Members who want to set their own schedule can create a flight and post it to JetSmarter’s app so that other interested members can buy seats for the route and help reduce the cost of the charter; if all the seats on the plane sell, the member who created the flight flies for free. These crowdsourced trips usually top out at $2,000 a person, a fraction of the $8,000 or more per hour it can cost for a traditional charter. “My goal is to make private jet flying less elitist,” Mr. Petrossov said.
After a nap, why not wake up with coffee or entertain guests in the living room? This mockup represents part of the Melody interior product that Airbus can use when outfitting a plane. It includes larger entryways between the various zones of the plane (sleeping, working, relaxing, for example) instead of the traditional doors found on other private planes. Airbus
Monarch Air Group provides on-demand air charter services to New York and countless domestic and international destinations. Through select joint venture agreements, we provide an extensive fleet for private, group and executive air charter flights. Our industry experience makes us a leading provider of private jet services to an elite international clientele.
For the decade starting in 2017, Aviation Week predicts 11,346 deliveries of business aircraft (jets or not) valued at $250.1 billion, with a fleet growing from 31,864 aircraft to 36,702 aircraft (64% in North America): 4,838 more at an average annual growth rate of 1.6%, with 5,835 retirements. For the coming five-year period, Textron Aviation should lead the market with a 22.8% market share, followed by Bombardier with 20.4%, Embraer with 16.6%, Gulfstream with 15%, Dassault with 8.4% then the rest of manufacturers with 16.9%. There should be 22,190 Engine deliveries, led by the Honeywell HTF7000, Williams FJ44, Pratt & Whitney Canada PT6A Medium, Pratt & Whitney Canada PW300 and the Pratt & Whitney Canada PT6A Large. The average utilization should be 365 flight hours per aircraft per year.