The Piper Meridian - Still the same, yet better than ever

For AOPA Pilot Magazine by Andrew Gallagher

Piper has fine-tuned its flagship product over the past decade, and while it is still the same aircraft at heart, all the little changes have made a difference—in a very good way.

When considering the relatively small market segment of single-engine, pressurized turboprops, the Piper Meridian is still the youngest in terms of time in production. Despite its short tenure, the Meridian has managed to become one of the most popular airframes among owner-flown turbine aircraft. It really is no surprise why: The Meridian remains unmatched in initial acquisition and direct operating costs for the performance and utility it offers. Read the full article at AOPA.org

Showdown - Phenom 100 and Citation Mustang head to head

For AOPA Pilot Magazine by Cyrus Sigari

Until the HondaJet, Cessna's new Citation M2, the Cirrus Vision SF50, the Diamond D-JET, or the new Eclipse 550 enter the light-jet arena, there will be just two serious competitors in the market for new light jets under $4 million: Cessna's Citation Mustang and Embraer's Phenom 100.

Cessna launched the Mustang in 2002, putting the Eclipse 500 squarely in its crosshairs and beating it to the FAA-certification milestone. Embraer saw an opportunity to expand its executive jet division, and followed shortly with the announcement of its Phenom 100 and 300 jets in 2005. Mustang deliveries commenced in spring 2007, and about 400 airframes have been delivered since then. Just fewer than 300 Phenom 100s have been produced since December 2008.

Seen from the ramp, the Mustang doesn’t make any excuses. It looks exactly like what it is: a small and modern jet with its heritage confirmed by a classic, low-slung Citation look. The Mustang’s wingspan is 43 feet, 2 inches; tip-to-tail length is 40 feet, 7 inches; and the height from the ground to the top of the tail is 13 feet, 5 inches. Read the full article at AOPA.org

Light Jet Report Finds Jets Still Selling

NBAA Convention News » October 11, 2011

by Cyrus Sigari

Nearly exactly three years ago, in October 2008, I was sitting in the back of a Citation CJ1+ headed to the NBAA convention in Orlando, Fla. Lehman Brothers had collapsed two weeks earlier and there was a sentiment of caution and confusion surrounding the financial markets. NBAA 2008 ran from October 4 to 10. On October 3, the Dow Jones Industrial Average opened at 10,325 points. On October 10, it closed at 8,451 points. The largest stock market crash in U.S. history happened during the NBAA show.

Fast forward to today, even after three years of excruciating effort, the general aviation industry has struggled to regain its footing. Despite contributing more than $150 billion to the U.S. economy every year and 1.2 million high-wage, stable jobs, general aviation continues to be one of the popular targets of our current administration. A direct indicator of the industry’s recovery (or lack thereof) is pre-owned aircraft pricing, which ultimately has a direct correlation to demand for factory new aircraft. This market report gives a snap shot of how the pre-owned light jet market has fared since the last report published by AIN at last year’s NBAA convention.

Eclipse 500
The history of the Eclipse 500 very light jet remains one of the most fascinating to reflect on. In July 2009, Eclipse Aerospace resurrected the Eclipse 500 from bankruptcy. The new company is now supporting the 260 Eclipses in service, and customers feel that Eclipse Aerospace is here to stay. While factory-new Eclipse 500 production has yet to start up, Eclipse Aerospace has certified and retrofitted many new improvements to the original design. As there are somewhere on the order of half-a-dozen different configurations for the Eclipse 500, pricing is varied across the board. For the earliest serial numbers without the heavy extended tip-tank modification or Avio NG avionics, pricing ranges from $600,000 to $800,000. Eclipse Aerospace’s Total Eclipse, which includes all of the upgrades and modifications to the Eclipse, including the Avio Integrated Flight Management System, is being sold by the factory at $2.15 million. Pre-owned aircraft with the majority of the upgrades are trading in the low- to mid-$1 million range.

Hawker Beechcraft Premier I/IA/Hawker 200
With just under 300 Premiers in operation today, the Premier and the Premier IA continue to provide owners with the largest cabin and fastest speed in its class. Thirteen percent of the in-service Premier Is and 17 percent of the IAs are currently for sale. Prices vary from below $2 million for an older Premier I to the mid-$3 million range for a lower-time, younger pre-owned Premier IA. Hawker/Beechcraft’s newest Premier, renamed the Hawker 200, will be available starting in the fourth quarter of 2012. The numerous improvements to the Hawker 200 over the Premier IA should significantly increase Hawker Beechcraft’s competitive strength in this category. With the addition of the Williams FJ44-3AP engines, the Hawker 200 will have an increased maximum altitude of FL450 compared to FL410 on the Premier IA, a range increase of about 200 nm and an increase in maximum cruise speed to 470 knots. Combined with a much-improved “Hawker style” interior, the Hawker 200 stands to be a big win for Hawker Beechcraft.

Cessna Citation Mustang
Cessna’s smallest jet has proven to be one of the most successful models in the company’s history. With what has turned out to be an almost cult-like following by owner/operators, the Mustang provides relatively few barriers to entry for owners considering their first jet. With nearly 400 aircraft produced in just five years, the Mustang continues to provide excellent efficiency and operational simplicity, combined with Cessna’s strong service and support. High pedigree, appropriately priced Mustangs do not sit on the market for long. Current pricing for pre-owned Mustangs ranges from about $2 million for a higher time, low-serial-numbered unit, to the mid $2 million range for a younger machine. Over the past 12 months Cessna has been aggressive with factory incentives to move new aircraft off the production line, which has ultimately put a dent in the pre-owned market velocity and strength. The fact remains that the Cessna name and service creates a great deal of owner loyalty, and the Mustang provides a solid platform for both novice and experienced jet owner/pilots. Embraer Phenom 100 The light jet market has suffered for many quarters, but the Phenom 100 market may be an indication of what is to come. With prices remaining fairly consistent through most of 2011, the recent momentum in the Phenom 100 market is good news for owners. The Phenom 100 market is experiencing high demand and historically low available pre-owned inventory. Since June the average days on market for the 100 have fallen to fewer than 90 days, seemingly insignificant until compared with the combined average of 270-plus days on market average of six months ago. Embraer has cautiously adjusted its production rates and refrained from discounting new Phenoms, bolstering pre-owned markets. Early model Phenom 100s are trading in the high $2 millions to the low- to mid-$3 millions for a low-time, high-serial-number Phenom 100. Buyers are still looking for bargains, but will pay a premium for a well-maintained, low-time Phenom 100. With the pre-owned Phenom 100 inventory rapidly shrinking over the past quarter, low-time airframes with a clean history and enrolled in programs are highly sought after. This equates to market opportunity for owners of the Phenom 100 that may be looking to upgrade while retaining the most value for their current aircraft. A strong market exists outside the U.S., with the distribution of the fleet showing significant operations in Europe and South America (about 20 and 30 percent of the fleet, respectively).

Embraer Phenom 300
With massive fleet orders from both NetJets and Flight Options, Embraer has positioned the future of the Phenom 300 well. The largest of the single pilot jets in production today, the Phenom 300 has been very warmly received by early adopters.

With roughly 40 Phenom 300s delivered to date and no pre-owned transactions to report, pricing of available Phenom 300s for sale ranges from the high $7 millions to the low $8 millions and new Phenom 300s price out close to $9 million. By this time next year, there should be more data to report with respect to the market price for pre-owned Phenom 300s.

Cessna CitationJet/CJ1/CJ1+
The legacy CE 525 market (1993 to 2000 year models) has yet to truly recover from the perils of 2008, with 60 CitationJets currently for sale, representing 17 percent of the CitationJet fleet. Average pricing for the original CE 525 has steadily inched down to a market-wide average of approximately $1.5 million, providing buyers with the opportunity to own a single-pilot, eight-seat light jet for a significant discount when compared to previous years. The CJ1 market (2000 to 2005), with 29 units currently for sale representing 11 percent of the available fleet, boasts stronger liquidity for owners as compared to the legacy 525. Prices for CJ1s range from the high $1 millions to mid $2 millions. Pricing for the most recent model of the CE 525–the CJ1+ (2005 to 2010)–ranges from the high $2 millions to mid $3 millions. With CJ1+ production halted at the beginning of this year and a possibly new 525 variant in the works, buyers are likely to see continued softening of the CJ1+ market over the coming years, independent of outside economic factors.

Cessna CJ2/CJ2+
Pricing for the CE 525A market (2000 to 2005 models) ranges from the high $2 millions to the mid $3 millions. With just fewer than 40 units for sale representing 15 percent of the available fleet, great buys still remain for those interested in purchasing a 1,500-mile, nine-passenger jet. Liquidity for the CJ2 market is relatively tempered, with only three retail transactions in the CJ2 market over the last quarter. The CJ2+ market (2005 to 2011 models) reveals a different story compared to the legacy CE 525A. Currently only 8 percent of the CJ2+ fleet is available for sale with prices ranging from the low $4 millions for a higher time, lower-serial-number unit to the high $5 millions for a low-time, higher-serial-number unit.

Cessna CJ3
The CJ3 market remains the most dynamic of the Citation markets. Though only 6 percent of the fleet is currently for sale, the majority of on-market CJ3s are coming up for sale because owners are taking deliveries of CJ4s. Also, Cessna is offering sizeable factory incentives for new CJ3s, so it’s a great time to be a CJ3 buyer. CJ3 pricing ranges from mid to high $4 millions for an earlier-serial-number CJ3 to the low $6 millions for a younger bird.

Cessna CJ4
Cessna’s largest single-pilot jet, the CJ4, has made large strides in 2011. As of this writing, there are a few more than 40 CJ4s in operation, with many operators being former CJ3 or CJ2+ operators. As the CJ4 is so new, and so few aircraft are in operation, there have been few retail pre-owned transactions to report. However, pricing on new CJ4s is approximately $9 million, with pre-owned aircraft currently projected to be in the high $7 million to low $8 million range.

Gathering of Eagles After Party

In total, jetAVIVA raised nearly $100,000 for the Experimental Aircraft Association this year and sponsored a week long celebration of fun and aviation at this years EAA AirVenture, Oshkosh. The jetAVIVA sponsored Gathering of Eagles after-party was a smashing success with some of aviation's greatest heroes in attendance.

Gathering of Eagles After Party photo gallery

jetAVIVA: Demand Rising for Light Jets

By Thomas A. Horne | AOPA

Light jet sales and training firm jetAviva reports that the market for light jet sales is heating up, with used light-jet sales leading the way.

While the market for new aircraft in 2011 has largely been driven by demand for large-cabin jets from developing nations, jetAviva says it’s seeing an uptick in light-jet demand coming from relatively established markets.

"Deliveries of new light jets are down the first two quarters compared to last year, but overall sales activity and inquiries continue to increase due to exceptional values in the pre-owned market," said jetAviva co-founder and President Cyrus Sigari. "While pre-owned inventories are in most cases coming down, pricing has yet to completely firm up or reverse trend toward appreciation. This is creating an environment where prices for newer pre-owned aircraft are driving buyers to enter the market due to a sense that depressed pricing may not last much longer."

"Many buyers are making step-up purchases, selling their first light jet in search of increased speed, range, and cabin size," Sigari said. "With the exception of Brazilian interest, most of the demand for light jets is still coming from the U.S. and European markets. Interest from China, India, and other emerging markets has yet to have a noticeable impact on this market segment."

jetAVIVA Reports Light Jet Market Improving – Powered By Pre-Owned Aircraft

July 18, 2011 – (Santa Monica, Calif.) – Signs are strong that the market for light jets is heating up, according to jetAVIVA, the world's leading light jets sales company. Citing recent market data and the company's own direct experience, jetAVIVA reports that depressed pricing of pre-owned light jets is driving the recovery.

"Deliveries of new light jets are down the first two quarters compared to last year, but overall sales activity and inquiries continues to increase due to exceptional values in the pre-owned market," said jetAVIVA co-founder and President Cyrus Sigari. "While pre-owned inventories are in most cases coming down, pricing has yet to completely firm up or reverse trend toward appreciation. This is creating an environment where prices for newer pre-owned aircraft are driving buyers to enter the market due to a sense that depressed pricing may not last much longer."

According to a June report from corporate aviation intelligence firm JETNET, retail sales of pre-owned business jets were up 15.7 percent in the first four months of 2011 while the inventory for sale percentage dropped from 15.5 percent to 14.3 percent, year over year.

"Many buyers are making step-up purchases, selling their first light jet in search of increased speed, range, and cabin size," Sigari continued.

While the market for new aircraft in 2011 has largely been driven by demand for large cabin business jets from developing economies, jetAVIVA is seeing the uptick in light-jet demand coming from relatively established markets. Sigari noted, "With the exception of Brazilian interest, most of the demand for light jets is still coming from U.S. and European markets. Interest from China, India, and other emerging markets has yet to have a noticeable impact on the this market segment."

In addition to buyers moving up to their second or third light jet, jetAVIVA is seeing an increase in early-stage shopping for light jets from first time jet buyers seeking to upgrade from high-performance piston and turboprop aircraft. "This is a dynamic market. Pre-owned aircraft present a great value right now, but as this inventory declines, prices are likely to stabilize and begin to increase, which may drive buyers back to considering new aircraft," Sigari predicted.

Sean D. Tucker and jetAVIVA Team Up to Fight Loss of Control Accidents, Specifically for Light Jet Owner Pilots

Sean D. Tucker's Tutima Academy of Aviation Safety, the leading aerobatic and upset recovery training school, in partnership with jetAVIVA, the premier light jet acquisition and sales firm, are launching their new Light Jet Upset Recovery Training course. Geared towards general aviation's light jet owner pilots, the course is specifically designed with the modern jet pilot in mind.

Following the FAA's recent announcement urging all commercial operators to begin incorporating "Enhanced Upset Recovery Training", jetAVIVA and the Tutima Academy are demonstrating their dedication to safety by expanding this recommendation to light jet operators. A recent NASA study demonstrated that Loss of Control (LOC) scenarios continue to outpace other factors as the leading cause of fatal accidents in the last 20 years.

To help combat LOC accidents, the course covers LOC scenarios and aerodynamics with a specific emphasis on LOC psychology. The three-day course utilizes the highly capable Extra 300L and Pitts S2B/C, giving pilots the ability to experience all flight attitudes and to test the edges of the aerodynamic envelope in a safe and structured environment under the guidance of some of the world's top aerobatic instructors.

This course is open to any pilot who flies a turbine-powered airplane or is considering the purchase of a turbine-powered airplane.

The team at Tutima Academy, including company principal and world-renowned airshow performer Sean D. Tucker, developed the curriculum in conjunction with jetAVIVA's jet instructor pilots. Says Sean D. Tucker,"Flying aerobatics is the greatest thrill I've ever experienced. Being able to share my experiences to help other pilots survive emergency situations is even more rewarding."

Since its inception, jetAVIVA has been dedicated to the development of its clients as owner pilots. Says jetAVIVA president Cyrus Sigari "Training for and flying in competition aerobatics has significantly helped increase my personal flying skills, potentially saving my life one day. As a result I have become a firm believer that upset recovery training is not just an educational option; it should be required training for all those operating turbine powered aircraft." jetAVIVA developed its first Experience Light Jets course several years ago and has helped hundreds of owner-pilots transition from propeller aircraft to jets.

Based in Los Angeles, jetAVIVA provides expertise in light jet sales, acquisition, acceptance and training for clients from around the world. The Tutima Academy of Aviation Safety is located in King City, CA. The Tutima Academy strives to provide high-precision flight training for pilots of all levels, building confidence during maneuvering, and a deeper understanding into the art of aviating. The goal of both jetAVIVA and the Tutima Academy is to increase safety in one of the fastest growing areas of general and business aviation: the owner-flown light jet arena.

For more information or to sign up for the course, contact jetAVIVA at +1.310.907.5099 or e-mail to contact@jetAVIVA.com.