[Video tour]

[Photo gallery]

Nextant Aerospace of Richmond Heights, Ohio, has an approved STC essentially to remanufacture the Beechjet 400A/XP series. Completed aircraft will be marketed as the 400NEXT.

This endeavor is a serious ground-up modernization program. It starts with the airframe stripped to the hull. Nextant replaces all wiring. A complete suite of Rockwell Collins Pro Line 21 avionics is installed.

Nextant installs a complete custom interior with all of the amenities of a 21st century work and digital entertainment environment. Window treatments are the latest technology. Zero-time landing gear, fresh inspections, winglets and custom paint are completed.

Finally, existing engines are replaced with the new Stage 4 Williams International FJ44-3AP, offering superior:

• Economy
• Range
• Speed
• Cabin comfort

Nextant is offering all of this in a value package that will catch buyers’ eyes.

The aircraft caught our eye a few days ago. Aircraft Bluebook–Price Digest and AC-U-KWIK staff members had a chance to see the 400NEXT during a stop at MKC. Check out our video tour above and photo gallery.

Nextant's photo gallery and Web site provide more details.

Vol. 23, No. 1 | Feb. 17, 2010 | Go to Charts

by Carl Janssens, ASA | Aircraft Bluebook — Price Digest

In the pre-owned aircraft market, bottom feeders are like red herrings.

Bottom feeders — corporate aircraft that have no significant issues with their history, maintenance or condition and are marketed below Bluebook wholesale values — continue to be great opportunities for the fortunate few who buy without a blink of an eye.

They also lead buyers into a false perception of value that only competition in the market can correct.

Reasons why such aggressive marketing maneuvers continue to appear are wide and varied. When a corporate aircraft with no issues with its condition, equipment or history sells for a low price, Aircraft Bluebook–Price Digest investigates to learn the whole story. Capital gains, tax shelters, foreclosures, and even new deliveries are just a few reasons behind these significantly discounted offerings. One common denominator in all of this is the element of time. An aggressive discount in price represents interest in an immediate sale. True, this moves the economy, but such a transaction does not fit the definition of Fair Market, which the Bluebook reports as Average Retail.

Pre-owned aircraft sales activity slowly is showing stability in the market, but news of another bottom feeder eclipses these transactions, and market perception has to be rebooted like after a computer crash.

Serious buyers are starting to see beyond all the drama when an unrealistic offering is being denied by the seller. Ready-to-fly, well-equipped aircraft with fresh maintenance are bringing some normalcy to aircraft values.

Although the market is still nothing to brag about, and trends still might adjust down, this market is nothing like the roller coaster ride of 2009. As the market slowly improves, attention to navigating through the economy is migrating from ground to traffic awareness.

Jet

Bluebook-at-a-glance
Increased — 2
Decreased — 455
Stable — 419

Late-model, large-cabin aircraft are retaining value. Don’t be surprised if supply and demand create more competition between buyers. This competition will start a slow upward tick in pricing. Now is really the time to buy in this market.

Citation X values remained steady while the Sovereign was off 2 percent from last quarter. Bombardier Global Express and the 5000 remained steady while the Challenger 604 declined 2.5 percent. The Falcon 7X held steady while the Falcon 50 was down 5 percent from last quarter. Late-model Gulfstreams held steady while earlier models were off 5 percent from the winter Bluebook.

Turboprop

Bluebook-at-a-glance
Increased — 13
Decreased — 62
Stable — 518

The ag market continued to show no changes in value when compared to the previous quarter. Late-model King Airs remained stable while earlier models generally also held on without trending. The Cessna Caravan was stable with later models down 1 percent or less. Some slight rays of sunshine were select Piper Cheyennes experiencing slight increases from the previous quarter.

Multi

Bluebook-at-a-glance
Increased — 30
Decreased — 105
Stable — 521

For the most part, late-model twins, the Beech Baron and Piper Seneca held steady for yet another quarter. Early-model twins such as the Cessna 421 and Beech Duke were off 2 percent from the winter Bluebook.

Single

Bluebook-at-a-glance
Increased — 272
Decreased — 618
Stable — 1581

Ag planes generally remained unchanged.  Amphibious models such as the Lake were up slightly in trending. The Piper Arrow was also in the positive column while most Maules were off slightly. Late-model Bonanzas and Cessna singles held steady while the Diamond Star was up 5 percent or more. For the most part, values remained steady.

Helicopter

Bluebook-at-a-glance
Increased — 13
Decreased — 99
Stable — 904

Helicopter models reported in Bluebook continue to level off. Piston helicopters such as Enstrom and Robinson were up slightly through select model years. Some turbines, such as the Eurocopter EC135, were off 5 percent from the previous quarter. Overall, the majority of models reported in Bluebook remained stable.

Aircraft Bluebook–Price Digest here for you

Please contact Aircraft Bluebook if you have any specific concern in a particular aircraft market. We will be happy to share with you the most up-to-date information available for your market segment. Call us toll-free at 877-531-1450 or direct at 913-967-1913.

[Go to Charts.]

Used Aircraft Market: This chart displays each model's quarterly value in relationship to its average equipped price at the inception of the aircraft. The study begins in the spring quarter of 1994 and includes the Jet, Turboprop, Multi, Piston and Helicopter. For all charts, the red number indicates the first reporting date after 9-11.Jet: The jet chart depicts the average price (in thousands) of the six 1990s jets listed in the box.Turboprop: The turboprop chart depicts the average price (in thousands) of a 1985, 1986 and four 1990 turboprops listed in the box.Multi: The multi chart depicts the average price (in thousands) of the six multi models listed in the box. Each model’s year will precede the name of the aircraft.Piston: The piston chart depicts the average price (in thousands) of the 10 pistons listed in the box. Each model’s year will precede the name of the aircraft.Helicopter: The helicopter chart depicts the average price (in thousands) of the six helicopters listed in the box. Each model’s year will precede the name of the aircraft.NASDAQ: This ratio scale chart depicts the change for the NASDAQ daily average from quarter to quarter beginning at the end of the first quarter of 1992. Each data point represents the closing daily average on the last trading day of each quarter. This study originates in the first quarter of 1971.Aircraft on Registry: The Aircraft on Registry chart depicts the number of aircraft reported in Aircraft Bluebook that are listed on FAA records and considered to be in the U.S. inventory.U.S. Real Gross Domestic Product: This graph represents real gross domestic product measured by the U.S. Department of Commerce. Each data point represents the percentage change from the 2005 baseline GDP. The study begins with the second quarter in 2005.Single/Multi: The blue line in the Single/Multi chart depicts change-of-ownership data for singles. The black line represents multis.Jet/Turboprop/Heli: The black line in the Jet/Turboprop/Heli chart represents change-of-ownership information for jets. The blue line depicts turboprops, and the gray line represents helicopters.Total Market: Depicts change-of-ownership data for all aircraft included in the Aircraft Bluebook. The numbers are from the FAA Registry. Gliders, homebuilts, airliners and other aircraft not found in the Bluebook are not included in this study.

Vol. 22, No. 4 | Nov. 30, 2009 | Go to Charts

by Carl Janssens, ASA | Aircraft Bluebook — Price Digest

Entering its home stretch, 2009 certainly has been a forgettable year for general aviation. The losses in value for most owners of corporate aircraft have been significant and, at times, have even been heartbreaking.

However, something is happening out there. While economists predict an economic recovery will be achingly slow, some aircraft values are moving up. The change is barely perceptible and does not apply to every market segment. But inventories are finally contracting instead of expanding, and dealers are again becoming cautiously optimistic.

At the Dubai Airshow, Aircraft Bluebook–Price Digest has witnessed upbeat attitudes.

Aircraft Bluebook was represented in Dubai with its sister publications AC-U-KWIK and The Air Charter Guide. These publications are intricately involved in all aspects of corporate aviation, including aircraft values, FBOs, ground transportation, lodging or a multitude of other support services. At the Dubai Airshow, business was robust. The publications experienced record advertising and book sales.

This trade show in Dubai reflects the health of the international corporate aviation segment. We can hope that the skies over North America will soon host greater numbers of corporate jets giving lift to the companies that use corporate aviation to propel themselves out of these dark times.

While the economy thumbs for a lift, corporate aviation is showing signs of lifting the economy. Remember the National Business Aviation Association and General Aviation Manufacturers Association’s campaign slogan: “No Plane, No Gain.”

Jet

Bluebook-at-a-glance
Increased — 46
Decreased — 160
Stable — 652

For large-cabin/long-range aircraft, inventories have firmed with sale prices holding at what should be considered bottom market pricing.  The bottom market seekers still waiting for a better opportunity may be surprised when the uptick in values reemerges.

The Lear 31 and Cessna 525 had values in the plus column. The Gulfstream G-IV and Bombardier Challenger 601 experienced minor decreases.

Turboprop

Bluebook-at-a-glance
Increased — 126
Decreased — 11
Stable — 453

Turboprop ag planes continue to demonstrate improved values for yet another quarter. The Piaggio P180 and the family of Piper Cheyennes experienced modest gains.  Also in the plus column were the 300 series Beechcraft King Air. Values for select 90 series Beechcraft King Airs were down slightly from the previous quarter. Most aircraft in this category remained stable.

Multi

Bluebook-at-a-glance
Increased — 32
Decreased — 37
Stable — 586

Aerostars experienced minor increases in value. The Cessna 421 also demonstrated modest increases when compared to the previous quarter. The Beech Duke and Cessna 414 values were down slightly. Most values reflected no change.

Single

Bluebook-at-a-glance
Increased — 132
Decreased — 108
Stable — 2209

Ag planes kept a positive note for another quarter. The Cirrus SR20 also improved modestly in select model years. For the most part, the majority of single-engine piston aircraft held steady. Decreases in value were minimal. Select Mooneys were down a few thousand dollars.

Helicopter

Bluebook-at-a-glance
Increased — 62
Decreased — 170
Stable — 770

The helicopter markets reported in Bluebook appear to be leveling off as well. Most models were stable for the reporting quarter. Eurocopter Twin Stars as well as the Bell 206 series were up slightly. Some values declining for this quarter include the Eurocopter AS350 and the Bell 430.

Contact Aircraft Bluebook

Please contact Aircraft Bluebook if you have any specific concern in a particular aircraft market. We will be happy to share with you the most up-to-date information available for your market segment. Call us at 877-531-1450 or 913-967-1913.

[Go to Charts.]

Used Aircraft Market: This chart displays each model's quarterly value in relationship to its average equipped price at the inception of the aircraft. The study begins in the spring quarter of 1994 and includes the Jet, Turboprop, Multi, Piston and Helicopter. For all charts, the red number indicates the first reporting date after 9-11.

Jet: The jet chart depicts the average price (in thousands) of the six 1990s jets listed in the box.

Turboprop: The turboprop chart depicts the average price (in thousands) of a 1985, 1986 and four 1990 turboprops listed in the box.

Multi: The multi chart depicts the average price (in thousands) of the six multi models listed in the box. Each model’s year will precede the name of the aircraft.

Piston: The piston chart depicts the average price (in thousands) of the 10 pistons listed in the box. Each model’s year will precede the name of the aircraft.

Helicopter: The helicopter chart depicts the average price (in thousands) of the six helicopters listed in the box. Each model’s year will precede the name of the aircraft.

NASDAQ: This ratio scale chart depicts the change for the NASDAQ daily average from quarter to quarter beginning at the end of the first quarter of 1992. Each data point represents the closing daily average on the last trading day of each quarter. This study originates in the first quarter of 1971.

Aircraft on Registry: The Aircraft on Registry chart depicts the number of aircraft reported in Aircraft Bluebook that are listed on FAA records and considered to be in the U.S. inventory.

U.S. Real Gross Domestic Product: This graph represents real gross domestic product measured by the U.S. Department of Commerce. Each data point represents the percentage change from the 2005 baseline GDP. The study begins with the second quarter in 2005.

Single/Multi: The blue line in the Single/Multi chart depicts change-of-status data for singles. The green line represents multis.

Jet/Turboprop/Heli: The dark blue line in the Jet/Turboprop/Heli chart represents change-of-status information for jets. The green line depicts turboprops, and the light blue line represents helicopters.

Total Market: Depicts change-of-status data for all aircraft included in the Aircraft Bluebook. The numbers are from the FAA Registry. Gliders, homebuilts, airliners and other aircraft not found in the Bluebook are not included in this study.