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Bizav Salaries Pushing Up, NBAA Survey Finds

As the business aviation industry continues to face a workforce shortage, salaries are pushing up, with several positions improved by double digits and at least one position experiencing a 30 percent increase, according to the 2018 NBAA Compensation Survey. NBAA found an average of 3 to 4 percent increases across the 16 positions involved in the survey. The cash compensation for a non-flying aviation department manager category jumped 30 percent, to $205,000; maintenance foremen were up 14 percent, to $127,000; and senior captain salaries climbed 12 percent, to $164,000, the survey data indicates.
“The survey shows that our members are adjusting and keeping up with industry trends,” said Peter Korns, NBAA’s manager of tax, operations, and workforce engagement. “As our industry continues to work to attract and retain quality talent, we are seeing real efforts to fairly compensate pilots and mechanics who might otherwise seek out alternative opportunities.”
Korns added that the survey was largely in line with expectations. But not all salaries increased. “We see some significant decreases in dispatcher and line service personnel salaries—down 12 percent and 10 percent, respectively—which is cause for further analysis,” he said.
This year’s survey marked its largest data set to date, encompassing 790 NBAA operating member companies that provided data for 4,130 employees.

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By AINalerts : August 28, 2018

2018-08-29T11:25:24+00:00 August 29th, 2018|Aviation News, Blog, Business Aircraft Industry News, Economics of Aviation|

Amstat Report Shows Strengthening of Bizjet Values

Business aircraft valuations are showing signs of rebound, with heavy jets increasing 13.8 percent in the last 12 months and light jets improving by nearly 25 percent, according to Amstat’s latest Aircraft Valuation Tool (AVT) report.

By the end of June, heavy jet values had jumped to $16.3 million, a gain that benefited from a steady climb over the past couple of months. While values have fluctuated in this category this year, the $16.3 million is still up 7.8 percent since the beginning of the year and more than $3 million up from the 12-month low point in October, when values skirted $13 million, the AVT report showed.

Light jets also have showed gains this year, up 4.8 percent since the beginning of the year, to a normalized valuation of $2.5 million. This category has climbed steadily since last August, when values were $2.2 million, and are up notably since June 2017, when they dipped below $2 million.

Medium and super-midsize aircraft values are on par with where they were a year ago. Medium jets have remained at roughly the $3 million level over the past 12 months, while super-mids came in a $6.7 million, near where they were a year ago but a dip from the $7.5 million value in April. Turboprops, meanwhile, are up 1 percent year-over-year, marking a rebound since a drop last fall. Year-to-date, values are up 7.8 percent.

by AINalerts

2018-07-17T14:35:14+00:00 July 17th, 2018|Aviation News, Blog, Business Aircraft Industry News, Economics of Aviation|

Aircraft Marketplace Now ‘Balanced,’ Says Industry Veteran

 

 

 

 

Due to a growing global economy, there has been a turnaround in worldwide jet sales, and the aircraft market is balanced for the first time in years, creating a healthy, sustainable marketplace, according to a veteran broker. “The days of an airplane losing 20, 25 percent a year, which is of course not sustainable, are gone,” said Jay Mesinger, CEO of Mesinger Jet Sales, adding demand is now outpacing supply. “It’s the first time that my industry has been so bold to use words like ‘half full’ or ‘optimistic’ or ‘enthusiastic’ in years, and those are the words that are universally being used by all of us engaged in aviation.” Mesinger shares his perspective in this week’s NBAA Flight Plan podcast.

by NBAA 7/16/2018

2018-07-16T09:07:01+00:00 July 16th, 2018|Aviation News, Blog, Business Aircraft Industry News, Economics of Aviation|

1Q Bizcraft Utilization Reaches Decade-long High

Average monthly business aircraft utilization reached 27.97 flight hours during the first three months of the year, marking the highest average level in any first quarter since 2008, according to maintenance support provider Jet Support Service Inc. (JSSI).

JSSI’s first-quarter 2018 Business Aviation Index, released May 1, found that business aviation average flight hours were up 2.9 percent year-over-year. The index tracks utilization of 2,000 business jets, turboprops, and helicopters worldwide, reporting average flight hours flown on a monthly basis by region, industry, and cabin type. “The end of 2017 saw the highest flight hour activity since the peaks of 2008. While the first three months of the year often sees a material drop in [quarter-over-quarter] flight hours, this first quarter dropped by only 0.3 percent,” said JSSI president and CEO Neil Book. “This strong start to 2018 is a positive sign and indicator for global markets.”

According to JSSI, the aviation sector led the growth, with an 8.4 percent increase in flight activity. Healthcare similarly helped drive this growth, with an increase of 8.3 percent, followed by the power and energy sector at 7.3 percent. The consumer goods sector, however, saw an 8.3 percent decline in business aviation activity, and the manufacturing sector reported a 10.4 percent decrease.

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by AINalerts : May 1, 2018

2018-05-01T13:57:05+00:00 May 1st, 2018|Aviation News, Blog, Business Aircraft Industry News|

U.S., Canada Bizav Flying Off to Roaring Start in 2018

Utilization metrics for business aircraft flying in the U.S. and Canada continued to improve last month, with activity up 4 percent year-over-year, according to TraqPak data released today by Argus International. That was well above the 3.3 percent gain that analysts at the business aviation services company predicted last month; this month, they are calling for a 3.8 percent rise.

Flying by both operator type and aircraft category were up across the board last month. Part 135 activity soared by 8 percent year-over-year, while fractional and Part 91 reported upticks of 2.2 percent and 1.5 percent, respectively. By aircraft category, turboprops led the pack, rising 5.5 percent from a year ago, followed by large-cabin jets, up 4 percent; midsize jets, up 3.1 percent; and light jets, up 2.8 percent.

Activity has steadily increased over the past five Januarys, climbing from approximately 217,000 flights in January 2013 to 240,000 last month, JetNet data shows. Weekday flying was up 2.8 percent from a year ago, while weekend activity jumped 8.5 percent. By U.S. region, the Southeast dominates with 58,234 departures, eclipsing the next busiest—the central West Coast—by more than 23,000 movements.

 

by AINalerts

2018-02-13T13:42:40+00:00 February 13th, 2018|Aviation News, Blog, Business Aircraft Industry News|

U.S. Business Aircraft Flying Ends 2017 with a Gain

Business aviation flight activity last month in the U.S. fell short of forecast (5.6 percent growth), but still managed to post a 2 percent year-over-year increase, according to TraqPak data released today by Argus International. Analysts at the business aviation services company are calling for a 3.3 percent gain in flying this month.

By operational category, Part 135 flying came out on top, rising 4.6 percent from a year ago, while fractional activity wasn’t far behind, with a 4 percent increase. But Part 91 flying once again slipped into negative territory, falling 0.5 percent year-over-year, with gains in midsize and large-cabin jets more than offset by losses in turboprops and light jets.

Despite an 8.3 percent resurgence in fractional turboprop flying last month, the turboprop aircraft category remained flat year-over-year. Light jet activity was equally anemic, logging a 0.1 percent decrease. However, midsize and large-cabin flying saw solid gains last month, ascending 4.2 percent and 5.5 percent, respectively, from a year ago.

In individual categories, only Part 135 large-cabin jets experienced double-digit gains, climbing 11.2 percent year-over-year. Large-cabin fractional activity recorded a 5.8 percent loss over the same period.

Argus’s TraqPak data provides “flight-number-specific aircraft arrival and departure information on all IFR flights in the U.S., Canada, and the Caribbean.”

by AINalerts

2018-01-11T13:16:51+00:00 January 11th, 2018|Aviation News, Blog, Business Aircraft Industry News|

LEGISLATION PROMOTES AVIATION CAREER PATHS FOR WOMEN

More than half the nation’s workforce is female, but only six percent of pilots are women. Legislation introduced in the Senate seeks to improve on those numbers by encouraging the aviation industry to help women pursue aviation careers.

Sen. Tammy Duckworth (D-Ill.) is among many veterans who have pursued training in general aviation after leaving the military. Photo by Chris Rose.

Sen. Tammy Duckworth (D-Ill.) is among many veterans who have pursued training in general aviation after leaving the military. Photo by Chris Rose.

 

The bipartisan bill, titled the Promoting Women in the Aviation Workforce Act of 2017, is sponsored by Sens. Tammy Duckworth (D-Ill.) and Susan Collins (R-Maine).

It would “express the sense of Congress that the aviation industry should explore all opportunities to encourage and support women to pursue a career in aviation.”

Other provisions include directing the FAA to establish a Women in Aviation Advisory Board “to promote organizations and programs that provide education, training, mentorship, outreach, and recruitment of women in the aviation industry,” directing the FAA to report to Congress on trends that discourage women from pursuing aviation careers; expanding existing scholarship opportunities for women in aviation; and coordinating professional training and recruitment programs, according to a news release announcing the measure.

“Our bipartisan legislation encourages the aviation industry to offer opportunities, such as pilot training, STEM education, and mentorship programs that would help women to pursue and succeed in aviation-related careers. Senator Duckworth and I urge our colleagues to join this effort to improve and increase the educational opportunities for women in aviation,” Collins said.

In a statement, Women in Aviation International President Dr. Peggy Chabrian noted that the bill cites WAI’s Girls in Aviation Day “as a program that helps ‘young women be introduced to the different opportunities that are open to women in the aviation and aerospace industry.’”

She also noted the recent passage by the House of Representatives of the Women in Aerospace Education Act, which was “designed to engage girls at a young age” to set their sights on fields with low participation by women.

By Dan Namowitz

2018-01-03T11:14:08+00:00 January 3rd, 2018|Aviation News, Blog, Business Aircraft Industry News|

Jetcraft Forecast Sees Upward Sales Trend

In its annual 10-year business jet market forecast released October 4, Jetcraft (SD01) predicted an upward trend for new business jet sales. Jetcraft acquires, trades and brokers both new and preowned executive and VIP jets.

Jetcraft’s 2017 forecast calls for 8,349 business jet deliveries by 2026, representing $252 billion in revenues (based on 2017 pricing). North America leads the way with 62 percent of deliveries (5,176 aircraft), followed by Europe with 17 percent and Asia with 12 percent (1,420 and 1,002 aircraft, respectively).

Over the past decade the average aircraft list price increased by 56 percent. The forecast sees that number growing by an additional 16 percent by 2026. How might that happen? Jetcraft predicts that 98 percent of the forecasted revenues from new programs will be for widebody or large business jets such as the Citation Hemisphere, Global 7000 and Gulfstream G500 and G600.

“Pinpointing the transition into a new business cycle is challenging,” said Jetcraft chairman Jahid Fazal-Karim. “Our forecast indicates we are finally exiting the post-2008 recession period, entering several years of steadier, healthier growth and expanding revenues.”

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by AINalerts  10/9/2017

2017-10-09T10:53:23+00:00 October 9th, 2017|Aviation News, Blog, Business Aircraft Industry News, Economics of Aviation|

Argus: North American Bizav Flying Rises 3.9% in 1H17

Business aircraft flight activity in North America during the first half of the year has recorded year-over-year gains every month, according to a midyear TraqPak report released today by Argus International. In fact, year-to-date flight activity is up 3.9 percent from 2016, while flight hours have risen 6 percent during the same period.

Flight activity continues to be “very strong” in the Part 135 segment, ascending 10.1 percent during the first six months compared with the same period a year ago. Argus also noted “solid gains” in the Part 91K/fractional segment, with flight activity up 5.7 percent as the industry “has finally managed to put the consolidation behind it.” Meanwhile, Part 91 has been flat this year, declining 0.5 percent year-over-year in the first six months, though it said the second half “looks more promising” for this segment.

All aircraft categories saw flight-hour gains during the first six months, increasing by an overall average of 6 percent from a year ago, according to Argus. Large-cabin jet flying climbed 10.5 percent, to 475,580 flight hours, followed by a 7.3 percent rise in midsize jets. On the lighter end of the spectrum, turboprop and light jet flying surged 3.2 percent (564,431 hours) and 3.5 percent, (478,433 hours), respectively.

Argus estimates that flight activity in August, September and October will rise 2.9 percent compared with a year ago.

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by AINalerts 8/7/2017

2017-08-07T14:01:42+00:00 August 7th, 2017|Aviation News, Blog, Business Aircraft Industry News|

Jetcraft forecasts 7,879 deliveries 10 years

Business Aviation

Jetcraft has released a new 10 year business jet delivery forecast, covering the years 2016 to 2025.

The company is forecasting there will be a total of 7,879 deliveries worth over $248 billion during the period.

North America is expected to solidify its position as the leading market business aviation market, with Jetcraft forecasting 60% of all business jet shipments will go into the region. The gains in North America are largely at the expense of Latin America, where the forecast of 5% of all deliveries is a big drop from the 9% predicted in 2015.

Jetcraft’s rational behind the drop is an outpouring of Ultra High Net Worth Individuals from faltering emerging economies. This has affected the outlook for Asia Pacific as well, with the forecast dropping below 1,000 units to 789, a 2% downward correction.

Both of these drops are larger than the 1% dip in deliveries that are predicted to Russia and the CIS, where total deliveries are expected to reach 315. Although it is difficult to know how many aircraft are currently in the country, 315 deliveries will roughly double the size of the fleet.

“Last year, we highlighted the unpredictability of our industry since 2008, and the impact of global events during the past 12 months have certainly continued this trend,” said Jahid Fazal-Karim, chairman, Jetcraft. “As global factors continue to influence the business aviation market, we are uniquely positioned—through our 20+ offices worldwide—to qualitatively test our forecast’s assumptions and the impact of these global factors on the ground, providing a cumulative view that joins our analysis with real-world business transactions,”

By Alud Davies October 14, 2016 , CorporateJetInvestor

2017-06-13T02:14:26+00:00 October 17th, 2016|Blog, Business Aircraft Industry News, Economics of Aviation|

Jetcraft Sees Strengthening of U.S. Bizjet Market

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Cessna Citation Hemisphere

Jetcraft sees aircraft manufacturers increasingly focusing their research and development budgets on higher-end products. This is exactly that Textron Aviation is doing with its in-development Cessna Citation Hemisphere, which will be the company’s largest business jet to date. (Photo: Textron Aviation)

After a long stretch in the doldrums, the business jet market is beginning to see a return to normalcy in some sectors, according to a forecast from aircraft brokerage Jetcraft. The North Carolina-based company has dialed back its guess about the number of business jet deliveries for the next 10 years by 10 percent (to 7,879 worth $248 billion, from 8,755 in its inaugural forecast issued last year), but chairman Jahid Fazal-Karim believes solidity is returning to the market in some areas. With 72 transactions valued at $1.7 billion, 2015 was the strongest year in Jetcraft’s 50-year history, and the company says it is on pace to improve on that performance this year.

Historically, demand for new business jets outside North America has accounted for 30 percent of deliveries, but over the past decade that changed, with non-North American markets accounting for half of the deliveries in the boom years of 2007 and 2008; the demand was fueled by high oil and gas prices and favorable exchange rates against the U.S. dollar.

Jetcraft’s forecast sees a continuing return to the historical model as those conditions have reversed, with BRIC countries in particular cooling. Through 2025, the company sees North America accounting for 60 percent of new bizjet deliveries (4,727 aircraft), up six percentage points from last year’s forecast. While Europe’s share of the delivery forecast grew by one percent year-over-year, the overall tally declined to 1,182 aircraft from 1,225. The report notes that short-term deliveries will be hampered as the contribution of the emerging market economies wanes in response to lower oil and gas prices and less favorable U.S. dollar exchange rates, indicating that gains worldwide will come at the expense of Latin America, Asia-Pacific and Russia/CIS, which see a decline of 7 percent in this year’s forecast. Projected demand in the Middle East and Africa remains stable at three percent each for the next 10 years, according to Jetcraft.

“When other markets are down and North America is up, it balances our market overall,” said Jetcraft president Chad Anderson, highlighting the good news in the report. “Emerging markets are extremely important, but we see North America continuing to lead the pack in terms of demand over the 10-year period.”

The company predicts that Gulfstream will earn the lion’s share (30.6 percent) of the market’s revenue, benefitting from its expanded line of large-cabin aircraft. Bombardier will place second with 28 percent of market revenue, but Textron subsidiary Cessna will benefit from robust demand and regain deliveries leadership from Bombardier.

CONTINUING DEVELOPMENT

“If you look at light, medium and large jets, the unit count is similar across all those product sizes, so it’s a nice diversity of clientele,” Anderson told AIN. “What that tells some of us in the resale business is that light jets are still healthy; this is important because people usually enter the market with a smaller aircraft.”

The forecast calls for delivery of 688 business jets this year, rising steadily to a peak of 932 in 2021, before the next trough of 693 deliveries in 2024.

Jetcraft sees aircraft manufacturers increasingly focusing their research and development budgets on higher-end products. “This is the OEMs who do a good job of listening to their installed base of clients, telling us that the world is still favoring larger-cabin aircraft in general terms, so you are seeing that segment grow in activity and deliveries over the life of the forecast,” said Anderson. “As businesses get more global, there’s more demand to go beyond North American shores. The OEMs are investing millions and millions of dollars in that larger class of aircraft for the foreseeable future.”

This investment will result in a new crop of business jets entering service, ramping up through the next 10 years. Jetcraft predicts the Bombardier Global 7000 will enter service in 2018, followed a year later by the Global 8000. It predicts a new Gulfstream flagship, the G750, will debut in 2020; Cessna’s Hemisphere will arrive on the market in 2022; and a Dassault Falcon 9X, Embraer Legacy 700, Bombardier Challenger 700 and Gulfstream G400 will be introduced in 2023. “To me that’s an exciting part of our next few years,” said Anderson, “really nice products coming out of a diversity of manufacturers. That in itself will create replacement energy.”

The report, which assumes a slowdown in global wealth creation, an outflow of ultra-high-net-worth individuals from emerging market economies and continuing depressed oil prices, is tempered by potential growth in the U.S. economy and a greater need for corporate capital expenditure investment. Unpredictable variables such as terrorism and the migrant crisis remain threats that could destabilize the forecast, the authors point out.

THE PRE-OWNED MARKET

While Jetcraft notes that the inventory of jets for sale remains below the 13 percent benchmark, there is little evidence that residual values for five-year-old aircraft are on the rise. According to Anderson, most new aircraft purchased in the last five years came at a discount, a practice he believes continues in some cases today. “Go back to that spike in 2008-2009 when financial institutions and major institutional investors were making large purchases and aggressively anticipating residuals that were not sustainable,” he explained. “There once was a time when airplanes just increased in value, but that was not sustainable. There’s a natural depreciation schedule that is more reasonable, driven by the economic lifecycle of the equipment.”

by AINalerts October 13, 2016

2017-06-13T02:14:27+00:00 October 13th, 2016|Aviation News, Blog, Business Aircraft Industry News|

Cessna Delivers 5,000th Light Business Jet

Cessna Aircraft has delivered its 5,000th light business jet, a Citation M2 that was handed over last week to Helitrip Charter, which is leasing the aircraft to UK aircraft charter firm Catreus, the company announced today. In June, the Wichita-based aircraft manufacturer shipped the 7,000th Citation, a line of jets that spans light to super-midsize.

Kriya Shortt, senior vice president of sales and marketing at parent Textron Aviation, said the company “transformed” the light jet segment. Cessna entered the light jet segment in 1972 when it delivered the first Citation 500. The company’s current lineup of light jets consists of the Citation Mustang, M2, CJ3+ and CJ4.

Catreus manages and operates a mixed fleet of aircraft, among them the Citation Mustang, M2, Bravo, Excel, XLS and XLS+. This latest delivery adds a second M2 to the company’s fleet, which flies 3,000 charter hours a year, Cessna said. Catreus recently received approval to operate the M2 at London City; it already has identical approvals for the remainder of its aircraft types.

by AINalerts 10/3/2016

2017-06-13T02:14:27+00:00 October 3rd, 2016|Aviation News, Blog, Business Aircraft Industry News|

Insurance tips for fractional and charter customers

A charter or fractional provider's insurance can cause problems for customers. (Illustration: John Lewis)

You have no role in determining the provider’s coverage but you can still take steps to protect yourself. 

If you’re a charter customer or fractional owner, your net worth may well exceed that of your flight provider. That would make you the deep pocket with the most to lose in an accident, yet you have no role in selecting the provider’s insurer or drafting its coverage terms. So how can you protect yourself? By performing the most dreaded task in all of aviation—reading the insurance policy—and by keeping these tips in mind:

1. Focus on usage clauses, not on whether you’re a “Named Insured.” Many people wrongly believe that being a “Named Insured” eliminates the need to examine the usage clause. The reality is that if the policy’s use is noncommercial, being a “Named Insured” is not a talisman that enables coverage for commercial activities. The “Named Insured” method also ignores the complication that the use clause may be based upon the activities of the “First Named Insured” (the person or entity listed first on the policy’s declarations page).

There is no shortcut for an analysis of whether your use of the aircraft falls within the scope of the insurance policy. For example, ifyou’re a fractional owner acting as the aircraft operator under FAR 91 Subpart K, is your use within the scope of “all uses by the First Named Insured”? Does your use fall under the umbrella of use by the fractional program manager?

2. Don’t accept discounted rides from friends with fractional shares. Unless your friend has his own charter certificate, your payments to him for flights would likely violate the FARs and the use provision of his insurance policy. In this scenario, there is no coverage, hull or liability, for either of you.

3. Make sure the provider’s policy includes non-owned coverage. Charter companies and fractional programs may rely on charter vendors to cover your trips on peak-demand days and when their own aircraft have mechanical issues. Do you need to scramble to vet another insurancepolicy if you’re outsourced? No, not if your charter or fractional provider’s insurance includes non-owned coverage. Such coverage should give you the same level of protection whether or not your flight is outsourced.

You do, however, need to ensure that the non-owned coverage encompasses flights arranged by the company for its customers and that it includes non-owned hull insurance. If you drive your car into the aircraft or your child carelessly swings her golf club as she boards, you may be liable for the resulting damage—as well as for the diminution in value created by the damage history. Non-owned hull coverage protects you in such cases.

4. Get a recovery waiver. When an insurer pays a hull claim, it has the right to subrogate: it may step into the shoes of the aircraft owner and recover from the person who damaged the aircraft. As a charter customer or fractional shareowner, you have exposure for negligently damaging the company’s aircraft.

Don’t be lulled into complacency by a waiver of subrogation—it’s likely invalid if the aircraft owner hasn’t already granted you a recovery waiver. To avoid claims for damage and diminution of value, you need the aircraft owner to waive his rights of recovery against you. Once the owner has done this, the insurer has no legal basis to proceed against you via subrogation. The recovery waiver protects you from the owner and the insurer.

5. Request a breach-of-warranty endorsement. Insurance policies have conditions that specify aircraft use, pilot qualifications and territory. If an accident involves an unapproved use, unapproved pilots or flight into unapproved territory, the insurer may deny coverage. For a charter customer, it’s impractical to verify that the aircraft provider is complying with all of the policy conditions. The fractional owner faces a similar problem, exacerbated by the fact that hundreds of other share-owners may operate “his” airplane.

The solution is to request a breach of warranty from the insurer. If you have that, the insurer will cover you despite the policy being otherwise invalidated by some unapproved activity. If an insurer denies your request for a breach of warranty, that’s an indication that the insurer perceives a risk that its insured will violate a policy condition. This should lead you to reconsider whether you want to have a flying relationship with the operator.

6. Ask for cancellation notice. Make sure that the insurer will mail the notification directly to you, not to the charter or fractional company. Also, bear in mind that you’ll receive this notice only if the insurer cancels the policy—not if it’s cancelled at the request of the “Named Insured” or if it has simply expired or been materially changed. These are all real risks.

7. Beware of indemnifications. Several seemingly reputable operators have adopted indemnifications that make their customers responsible for losses that exceed insurance limits—as well as losses that aren’t even insured. These murky indemnifications make you the backstop insurer. You should avoid doing business with operators that offload risk to you rather than purchasing adequate insurance.

8. Consider buying an excess policy. Excess policies have many wonderful attributes. The coverage can be yours—not split among the operator, aircraft owners, crew and passengers. You get to select the limits to match your assessment of the exposure. Further, excess policiescan provide a level of primary coverage in the event that the underlying policy doesn’t respond—whether due to cancellation by the charter company or to your failure to get a breach of warranty.

Avoid excess policies that have a stacking clause. This clause reduces your liability limit by the amount of any underlying coverage or excess coverage written by the same insurer.

Beware of excess policies that require a scheduled underlying policy. The excess policy will be void if the underlying one disappears. Also, the excess policy may not respond if the underlying one fails to respond or if there is an endorsement to the underlying policy.

9. Review any fractional excess coverage. Fractional excess policies need to cover you for your use of “your” aircraft, others’ use of your aircraft, your use of other fractional aircraft, your use of charter aircraft provided by the fractional program and your use of charter aircraft that you arrange yourself. Though premiums have fallen dramatically for fractional excess policies, you need to find an insurer who can cover all of the exposures. If you have a fractional excess policy, it behooves you to study it carefully.

by DANIEL HERR  Business Jet Traveler

2017-06-13T02:14:32+00:00 July 5th, 2016|Aircraft Insurance, Blog, Business Aircraft Industry News|

Gulfstream Flies Fourth Flight-test G500

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The fourth flight-test Gulfstream G500, T4, flew for the first time on Saturday, joining three other G500s already in flight-test, the Savannah, Ga.-based aircraft manufacturer announced. T4 took off from Savannah-Hilton Head International Airport at 9:47 a.m. on Saturday, with flight-test pilots Eric Holmberg and Brian Dickerson at the controls and flight-test engineers Dominic Pompeo and Mark Mondt recording and analyzing data in the cabin.

During the three-hour, 17-minute flight, the aircraft reached its maximums of 51,000 feet and Mach 0.925. The crew also exercised all primary flight control systems, performed functional checks of air data and cabin pressurization systems and completed a series of engine performance measurements.

The first flight of T4 speaks to the growing maturity of the G500 flight-test program and the significant development we completed before we even launched flight-test in May last year,” said Gulfstream president Mark Burns. To date, the four test aircraft have logged 580 flight hours.

One of five G500s involved in the flight-test program, T4 will be used to test avionics, flammable fluid drainage, water ingestion and select systems such as water/waste, lighting and fire protection. It will also perform flight standardization and operations evaluations. T1 is focused on envelope expansion; T2 on flight loads validation as well as aircraft performance and systems testing; and T3 on the Symmetry flight deck.

The fifth aircraft, P1, has been delivered to Gulfstream’s Savannah completions center, where it will become a fully outfitted production aircraft that will be used to test the interior elements.

T4 also represents a milestone in the G500’s development. For the first time, Gulfstream integrated product-support maintenance technicians with the flight-test team to follow the aircraft through manufacturing and flight-testing. “The collaboration between product support and flight-test throughout the G500 certification process will enhance the support available to operators when the aircraft enters service,” Burns said.

Gulfstream expects to earn FAA certification of the G500 next year. Its larger and longer-legged sibling, theG600, will follow by one year.

 by  Chad Trautvetter  – February 22, 2016
2017-06-13T02:14:39+00:00 February 23rd, 2016|Aviation News, Blog, Business Aircraft Industry News|