The third quarter was one of stabilization for the business jet market with operations, orders, available aircraft, and pricing all ebbing but at the same time normalizing, according to Global Jet Capital’s latest Business Aviation Market Brief. “Despite this shift, the market continues to show strength and resilience,” Global Jet Capital maintained, pointing to strong OEM backlogs, operations that remain above pre-pandemic levels, and still-low availability of newer and more desirable preowned aircraft. In the third quarter, flight operations decreased by 1.3% year over year (YOY) but were 1% higher than the second quarter and still 14.6% above pre-pandemic third-quarter 2019. Global Jet Capital said this dynamic reflects “an enduring expansion in the user base for business aviation.” Fractional operations remain the strongest sector in terms of growth, expanding slightly in the third quarter. OEM revenue was up by 15.3% YOY while backlogs remained high at $45.6 billion—just a 1.1% dip YOY. Orders in the quarter declined YOY but were still up 20.4% from 2019. Preowned transactions remained stable as more aircraft came on the market. New preowned public listings were up 13.3% YOY. Aircraft 13 years and older represented 69.6% of the new listings at the end of the quarter. Aircraft available for sale represented 7.8% of the total fleet as of October 31—still below the 10% average of the last decade. “As inventory increased, the market shifted from a seller’s market to a more neutral state,” Global Jet Capital said. Values for older aircraft (13+ years) decreased by 4.4% but increased by 0.8% for newer aircraft. Further, market conditions remain favorable, the aircraft financier said, with stable GDP growth of 2.7% during the first three quarters of the year and declining inflation, despite

Bombardier’s Mach 0.925 Global 7500 has now accrued 75 speed records, the company reported today. The announcement comes as the ultra-long-range business jet category continues to establish scores of speed records traveling the globe. Just last week, rival Gulfstream noted that its newest model in the portfolio, the Gulfstream G700, had already accrued 65. As far as the Global 7500’s latest feats, it has established city-pair records on flights between Tokyo and Hong Kong (3 hours 40 minutes); New Delhi and Tokyo (7 hours); and Los Angeles to Auckland (11 hours 55 minutes). Other record flights Bombardier mentioned were Miami to São Paulo, Tokyo to Los Angeles, Tokyo to San Jose, and Jeddah to London. These missions using the Global 7500 join others that Bombardier has in the books for its flagship model, including an 8,225-nm flight in October 2019 from Sydney, Australia, to Detroit, Michigan—the longest flight recorded in a business aircraft, according to the company. “What’s even more impressive about these Global 7500 records is they are flown as part of routine aircraft movements, including some missions that have passengers onboard,” said Jean-Christophe Gallagher, executive v-p of aircraft sales and Bombardier Defense. “We have on more than one occasion been thrilled to have customers and prospects be aboard for the record-setting city pairs.” The Global 7500 fleet is approaching 200 aircraft and has accrued more than 200,000 flight hours. Source: AIN Online

The in-service fleet topped of the Gulfstream G700 700 hours within the first 100 days in the market Gulfstream Aerospace’s G700 program has been picking up steam since FAA certification on March 29, accumulating type validations from eight nations along with the European Union Aviation Safety Agency. The Savannah, Georgia airframer listed Mexico among the latest nations to approve the 7,700-nm business jet. After receiving the U.S. nod a little more than 100 days ago, Gulfstream delivered the initial copies in April. While not specifying how many have been handed over since—Gulfstream cannot report deliveries ahead of its July 24 quarterly earnings call—analysts and others estimated eight by early July, with others at the time pending a believed modification. However, Gulfstream this week reported the in-service fleet has already topped more than 700 flight hours, showing a maturity in the program. “We planned for a seamless entry into service for the Gulfstream G700, and this incredible start is a testament to both the maturity of the program and the dedication of the Gulfstream team,” said Gulfstream president Mark Burns. “Thanks to the investments we made across our business, from research and development to manufacturing and completions, the Gulfstream G700program is exceeding customer expectations—they are flying their aircraft around the world immediately upon delivery, and the feedback we are hearing is outstanding.” The Gulfstream G700 Along with accruing hours, the Gulfstream G700 continues to rack up city-pair speed records, including from Paris to Montreal in 6 hours 16 minutes and São Paulo to White Plains, New York, in 8 hours 46 minutes. Both flights averaged a speed of at least Mach 0.90. The flights of the Gulfstream G700 are pending U.S. National Aeronautic Association and Fédération

The latest edition of the XLS series features new powerplants, updated avionics, and a flat floor. Could this be a mini Citation Latitude? That was my first impression when I saw the Cessna Citation Ascend mock-up at the European Business Aviation Convention and Expo in Geneva. Textron Aviation (NYSE:TXT) pulled back the curtain on the new model Monday morning at EBACE 2023. The $16.725-million Ascend will be the fifth-generation Citation 560XL when it arrives in 2025, and its refreshed appearance heralds dozens of improvements aimed at sustaining demand for the best-selling business jet in the last quarter century. Almost 1,100 Excel, XLS, XLS+ and XLS Gen 2 Citations have been delivered since 1998. The Ascend has plenty of qualities aimed at extending this sales performance. “The Cessna Citation Ascend builds upon more than 20 years of the 560XL series success in the market,” said Lannie O’Bannion, senior vice president, global sales and flight operations for Textron Aviation. “It’s designed to outperform and take our customers further in style.” Under New Power ​Most noticeably on the outside, it has a new and larger flight deck and cabin windows, giving it a sleeker, more contemporary appearance. Under the cowls, Pratt & Whitney Canada’s 4,213 lb thrust PW545D engines offer a modest 1 percent thrust increase, but they’ve been upgraded with more efficient high-pressure cores that boost flow rate and improve durability, compared to the PW545C powerplants that propel the Ascend’s predecessor, the Citation XLS Gen2. The PW545Ds also have enhanced deep-fluted mixer nozzles to mix hot core gas and cold bypass air flows in the exhaust section with less turbulence, resulting in better fuel efficiency and reduced noise. Mid-life inspection and overhaul intervals have been extended to 3,000 hours and

Falcon 10X Dassault Aviation is moving forward on the assembly of its 19-passenger Falcon 10X as it marches toward entry into service in 2027. The Falcon 10X elevates comfort, style and flexibility beyond all expectations. It has the largest cabin of any purpose-built business jet and pioneering safety innovations. Its 7,500 nm (13,890 km) range and Maximum Mach Operating (MMO) speed of Mach .925 make it a powerful business tool. The timeline has slipped behind the original target of 2025. During the European Business Aviation Convention and Exhibition in Geneva last May, Dassault Aviation CEO and chairman Éric Trappier indicated some skepticism about the 2025 timeline, pointing to vendor problems and the longer-than-anticipated effects of Covid. However, Carlos Brana, executive v-p of civil aircraft for Dassault Aviation, told AIN that despite the schedule delay, “development is going smoothly” as plans to assemble the aircraft this year proceed. “We are starting to manufacture the parts,” Brana added. “Right now, everything is going according to plan, even if the schedule has slipped a tiny bit.” Once certified, Dassault will bring to market its largest, longest-range Falcon 10X yet, putting it into the realm of the Bombardier Global 7500 and Gulfstream G700. Powered by Rolls-Royce Falcon 10X turbofans producing 18,000 pounds of thrust, the Mach 0.925 aircraft will have a cabin that is 9 feet, 1 inch wide and 6 feet, 8 inches tall, larger than any of the purpose-built business jets in service today. With the longer range, the Falcon 10X opens new city-pair options, such as New York to Shanghai or Hong Kong, and Los Angeles to Sydney. The longer reach allows Dassault to cast a wider offering in the Asia-Pacific market as it continues to expand its

How Much Does it Cost to Rent a Private Jet? The cost to rent a private jet varies from $2,000 – $14,000 per billable flight hour. These hourly rates include a broad selection of aircraft from turboprops to the finest executive jets in the skies. In addition to the hourly rental rates, several other factors contribute to the overall price of renting a private jet. The most economical private jets - Turboprops, Very Light Jets, or Executive Light Jets - cost around $2,600 to $3,500 per flight hour. Midsize or Super Midsize Jets cost between $4,000 and $8,000 per hour. Large and Ultra Long Range Jets cost between $8,000 and $14,000 per hour within the US, and possibly higher internationally. Ultra-luxury VIP airliners such as the BBJs and ACJs in executive configurations cost anywhere from $16,000 to 23,000 per billable flight hour. Below you can see various factors that influence the price. Private Jet Rental Price Factors Aircraft Category The aircraft category refers to the size of an aircraft. The bigger the jet the more expensive it is to hire it. Private jet prices vary from very light jets to ultra-long-range jets, from $2,000 to $14,000 per hour or more. Aircraft Type There are a variety of aircraft types within each category of private jets. Some aircraft types are slightly more expensive than others based on market demand. You can expect price variations from $200 to $2,000 per hour or more. Age of Aircraft The hourly rental rate of a newer rental aircraft is higher per hour than an older aircraft's. Prices can vary from $100 to $1,000 per hour or more. Billable Flight Time The total billable flight time includes positioning fees, time in the

Embraer's Phenom 300 Continues Its Reign The The light jet was the top-selling business twinjet for the past four years Following the release of the 2023 year-end delivery numbers by the General Aviation Manufacturers Association, Embraer announced that for the 12th consecutive year, its Phenom 300 was the best-selling jet in its class, with 63 of the series delivered last year. It was also the top-selling twinjet for the fourth year in a row. Over the past decade, the Brazil-based airframer has delivered more than 730 of the light jets, with the fleet surpassing 2 million flight hours. Its U.S. customers flew their Phenom 300s more than 360,000 times last year. With its high-speed cruise of 464 knots, the Phenom 300 is also the fastest light jet in production, and it has a five-occupant range of 2,010 nautical miles with NBAA IFR reserves. Its avionics include the first Runway Overrun Awareness and Alerting System to be certified for a business jet as well as other innovative features such as an Autothrottle, Coupled Go-around, and Emergency Descent Mode. “For more than a decade the aircraft has earned well-deserved recognition and continues to excel in terms of performance, technology, comfort, and support,” said Michael Amalfitano, CEO of the OEM’s executive jet division. “With our ongoing dedication to our loyal customers, we will continue to develop the program based on customer feedback, industry trends, and new technologies.” Source AIN Online

Falcon Delivery Dip Hits Dassault's 2023 Revenues Revenues last year fell by almost 31 percent to €4.8 billion ($5.2 billion) from €6.9 billion in 2022. Dassault Aviation is working hard to get better control of its supply chain as it targets increasing deliveries of its Falcon business jets to 35 this year, bringing the total closer to the pre-Covid delivery tally of 40 units in 2019. Announcing 2023 financial results today at a Paris press conference, the French manufacturer said it handed over 26 Falcons last year. That was six fewer aircraft than in 2022 and missed its guidance set last March for 35. The shortfall was reflected in an almost 31 percent dip in revenues last year, which fell to €4.8 billion ($5.2 billion) from €6.9 billion in 2022. Dassault also was slightly short in deliveries of Rafale fighters, with 13 handed over last year  instead of the projected 15 units. It handed over 14 Rafales in 2022. In both business units, chairman and CEO Eric Trappier pointed to supply chain issues for the declining rate of deliveries, indicating that the problem is more severe with the Falcon production line. “It’s more complicated for the Falcons because there are several supply chains with different suppliers for the 8X, for the 900LX, for the 2000LXS, for the 6X, and also for the 10X,” he told reporters. Another factor has been the later-than-anticipated type certification and entry into service of the ultra-long-range Falcon 6X. The wide-cabin business jet received simultaneous certification from EASA and the FAA in August, and the first aircraft entered service with Dassault itself in November, with the first external customer delivery occurring last month. Subsequently, 6X deliveries that had been scheduled for 2023 were postponed to this

Used Bizjet Inventory Climbs, Prices Soften The available inventory of business jets increased by 32 percent in February Preowned business jet inventory soared by 32 percent year-over-year in February, while prices softened by 5 percent, according to financial analyst Jefferies. Citing data from Amstat along with its own estimates, Jefferies said the increased inventory crossed all segments with available heavy jets up by 37 percent, medium jets up by 32 percent, and light jets up by 28 percent. Inventories of jets less than seven years out of production have increased by 35 percent year-over-year. However, the available inventory, at 4.3 percent of the business jet fleet, is still below the five-year average of 5.1 percent, Jefferies reported. Overall, 1,094 business jets were available for sale in February, compared with 1,078 units a month prior and 831 in February 2023. The 2023 figures were near lows. Inventory of in-production Dassault Falcons saw the biggest jump last month, up 80 percent from a year ago, Jefferies reported. However, this is from a small base with a total of 18 aircraft for sale. Meanwhile, Cessna Citation inventory climbed 49 percent year-over-year, with 104 units for sale. Jefferies said the Citation Mustang drove the increase. Bombardier inventories were up 45 percent to 58 aircraft. This was a result of an 86 percent jump in Challengers on the market, which numbered just seven a year ago. Gulfstream inventories increased 33 percent, to 69 jets, including 13 G650s. Jefferies also noted that Amstat numbers show that the Savannah, Georgia manufacturer has now produced 53 G700s, implying 46 for customers. Conversely, Embraer inventory shrunk by 16 percent, to 26 business jets, with a dwindling number of Legacy 650s and Phenom 100s for

The Global 8000 after the Global 7500 fleet has amassed 100,000 hours since service entry in December 2018 Bombardier marked the delivery of its 150th Global 7500 ultra-long-range business jet on Monday at NBAA-BACE 2023. The aircraft was actually delivered to an undisclosed customer in September. Now comes their flagship the Global 8000. In addition, the Global 7500 fleet has amassed 100,000 hours since service entry in December 2018. The aircraft also set 20 speed/distance records to date, including a 8,225-nm October 2019 flight from Sydney, Australia, to Detroit, Michigan. Bombardier claims the Global 7500 has a dispatch reliability rate of 99.8 percent. The Global 7500 features a “smooth flex wing” that reduces drag, fuel burn, and turbulence; a four-zone passenger cabin with the Lufthansa Nice Touch cabin management system, Nuage zero-gravity single executive seats, and Soleil cabin lighting designed with circadian rhythm-based technology to combat jet lag; a large galley; and dedicated crew suite. A revised version of the aircraft announced in 2022, the Global 8000, remains under development and “on track” according to Bombardier, with plans for it to enter into service in the second half of 2025. The program’s lone test vehicle has flown 150 hours to date backed by 1,000 hours of ground rigging tests. The Global 8000’s top speed is Mach 0.94 thanks to a software change to its GE Passport engines. The Global 8000 During flight testing in 2021, the Global 8000 exceeded Mach 1 in a shallow dive. Maximum range increases by 300 nm, to 8,000 nm, as a result of fuel storage optimization. The aircraft also adds advanced Hepa cabin air filtering. Overall aircraft dimensions are unchanged from the Global 7500, and 7500 operators will be able