IADA Warns of Coming Shortage in ‘Quality’ Used Bizjets

The International Association of Aircraft Dealers (IADA) is warning of a pending shortfall in “quality” preowned business aircraft as it continues to see activity increase in aircraft under contract and transaction closings, according to its second-quarter 2021 IADA Market Report. In the quarter, IADA dealers closed 320 preowned aircraft sales transactions and ended the quarter with another 315 aircraft under contract. That’s up from the quarter a year ago, when dealers closed 174 transactions and had 219 aircraft under contract.

“We have buyers with funds to purchase, but demand for late-model aircraft with attractive configurations exceeds supply, which could increase pressure on prices and lengthen transactions,” said IADA executive director Wayne Starling. The aircraft broker’s group noted that while some industry reports show the inventory of used aircraft at 7 percent of the fleet, “only about three to four [percent] are newer, late-model quality aircraft.” IADA added about half of those aircraft are located internationally and a large percentage of them reside in China.

IADA also reported that, during the second quarter, its members executed 175 acquisition agreements and were exclusively retained to sell 135 aircraft. During that period, transaction prices decreased on 11 aircraft and 38 transactions were not completed. That compares with 119 aircraft whose prices decreased and 45 incompleted transactions in the second quarter of 2020.

Wheels Up Now a Public Company Trading on NYSE

Private aviation charter and aircraft ownership services company Wheels Up yesterday closed its transaction with special purpose acquisition company (SPAC) Aspirational Consumer Lifestyle, making it a publicly traded company. The capital raised will accelerate investment in Wheels Up's technology and product offerings, driving global growth strategies and expansion of the Wheels Up Marketplace with membership and non-membership options, the company said.

“This is a special milestone for Wheels Up,” said the company's founder and CEO, Kenny Dichter. “Since our 2013 launch, it has been our mission to create a dynamic platform to democratize private aviation, making it possible for significantly more people to experience private flying.”

In the first quarter, Wheels Up reported record year-over-year revenue growth of 68 percent, to $261.7 million, and a 56 percent increase in the number of active members. Wheels Up offers membership programs, on-demand charter, aircraft management, whole aircraft sales, and corporate solutions.

Now known officially as Wheels Up Experience, the company will trade on the New York Stock Exchange under the symbol “UP.” To commemorate the completion of the transaction, Dichter, Aspirational Consumer Lifestyle chairman and CEO Ravi Thakran, and some members of the Wheels Up founding and leadership teams will ring the closing bell at the NYSE today.

Pratt & Whitney Opens Tech Engine Parts Facility

Pratt & Whitney has opened a 60,000-sq-ft ceramic matrix composites (CMC) engineering and development facility in Carlsbad, California. In addition to engineering and development, the facility will be capable of low-rate production of CMC materials for aerospace applications. The facility opening includes the addition of more than 60 jobs, the company added.

CMCs are made of ceramic fibers embedded within a ceramic matrix that can be used to manufacture engine parts that are one-third the weight of metallic parts. They also have a temperature capability that is several hundred degrees higher than superalloy parts, allowing for improved turbine engine fuel efficiency and weight savings, as well as reduced emissions and a smaller carbon footprint.

“Pratt & Whitney has been…pioneering new materials, aerodynamics and engine architectures,” said v-p of propulsion and materials technology Frank Preli. “Some of our best and brightest minds are innovating within this facility, and they will ensure that we continue to operate on the cutting edge of aviation technology for decades to come.”

Garmin G1000 NXi for Phenom 100/300 Gets EASA Nod

EASA has approved the Garmin G1000 NXi upgrade for Embraer Phenom 100s and 300s equipped with the Prodigy Flight Deck, offering modernized displays with improved readability, reduced power consumption, and more powerful processors. The upgrade can be installed at select Garmin dealers and Embraer Service & Support centers.

Garmin’s G1000 NXi includes additional capabilities such as SurfaceWatch runway monitoring, visual approach guidance, and map overlay within the HSI. Other features include split-screen view on the multifunction display, sectional charts and IFR low/high en route charts, European visual reporting points overlays on the moving map, and Smart Airspace.

Available as options for G1000 NXi-equipped Phenom 100s are a display of ADS-B In weather and traffic data via the GTX 345R/345DR transponder and GMA 1360D audio panels with Bluetooth capabilities. The GWX 75 Doppler weather radar is available as an option on Phenom 300s with the G1000 NXi.

Epic Appoints Lone Mountain Authorized Service Center

Epic Aircraft continues to build out a service support network for its all-composite E1000 turboprop single with the appointment of Lone Mountain Aviation as an authorized service center for the Southwest U.S. Lone Mountain is an FAA Part 145 repair station operating from a total of 50,000 sq ft of hangar space between sites at North Las Vegas Airport and Henderson Executive Airport in Nevada.

Under the authorization with the Bend, Oregon-based airframer, Lone Mountain will be able to support the Epic E1000, E1000 GX, and legacy experimental Epic LT with inspection, maintenance, and repair services.

“Lone Mountain’s dedication to superb customer care sets them apart in the industry,” said Epic CEO Doug King. “Not only are they exceptionally well trained and equipped, but their focus is on optimizing the entire customer experience, not just on supporting the needs of the airplane. That type of service-oriented culture complements ours at Epic.”

Epic said it continues to finalize authorized service center agreements with other MRO providers to establish a network that will span all U.S. time zones and “strategic” geographies.

Stevens Aerospace Adds PMA Capabilities to Services

Stevens Aerospace and Defense Systems has obtained Parts Manufacturer Approval, allowing the Greenville, South Carolina-based MRO and AOG provider to manufacture and sell parts for type certified aircraft. As a result, Stevens will offer on- or off-site installation of parts and its new capability could lessen long lead times for customers and reduce their costs.

Under the PMA, the company can produce universal parts such as avionics component blanking panels or one-off parts such as custom contoured antenna mounting plates. Its parts-making capabilities are made possible by in-house CNC machining, 3D printing, and metalworking.

“Our PMA is an important part of an overall growth plan helping us serve our customers better as we analyze every step of the maintenance process,” said Stevens’s Greenville general manager David Crowder. “Producing parts, wire harnesses, and other assemblies internally where it makes sense gives customers cost and downtime options previously not possible, resulting in a higher-value experience overall.”

Stevens offers MRO services on a variety of aircraft from OEMs such as Textron Aviation, Bombardier, Gulfstream, Pilatus, Dassault, and Embraer. Besides Greenville, Stevens operates from facilities in Dayton, Ohio; Smyrna, Tennessee; and Macon, Georgia. It also has an AOG mobile maintenance division.

Luxaviation Opens Office in French Riviera

Luxaviation France has expanded to the French Riviera with the opening of an office on July 1 at Cannes Mandelieu Airport, parent company Luxaviation Group announced today. This marks its second location in France beyond Paris Le Bourget Airport, where Luxaviation France has a fleet of 20 aircraft and offers business aircraft charter, management, and maintenance.

The company’s Cannes office is being headed by Elodie Mekhmoukh, who will be responsible for driving growth throughout the Côte d'Azur area, including Nice Côte d'Azur and Cannes Mandelieu airports. Mekhmoukh previously worked as commercial director of Azur Helicopters and has 12 years of experience in both the private jet and helicopter charter industry.

According to Luxaviation, Cannes Mandelieu is one of the key hubs of the French Riviera and “serves as an important destination for business and leisure travelers.”

Meanwhile, Luxaviation Group has inked a three-year agreement under which Satcom Direct will be the charter operator's preferred connectivity supplier. The agreement provides access to high-speed data via Inmarsat’s Jet Connex and SwiftBroadband services. Satcom Direct is also working with Luxaviation to optimize its suite of cybersecurity solutions available through SD Pro.

Aviation Blade Services Inks New S-70 Support Deal

First Aviation Services subsidiary Aviation Blade Services (ABS) has begun a multi-year inspection, repair training, and maintenance contract in partnership with AMS Group and Air Asia Co. (AACL) to support the main and tail rotor blades for the Taiwanese fleet of Sikorsky S-70/UH-60 helicopters. Through the agreement, ABS and AMS will enhance the AACL Vertical Flight Center’s depot-level rotor blade maintenance services.

As a Sikorsky rotor blade repair specialist, ABS has seen successful growth through such arrangements as it continues to expand its services in the marketplace with investment in engineering and capacity.

“We are excited to continue growing our footprint with foreign military operators of the Blackhawk and Seahawk by expanding our longstanding relationship with the AMS Group and AACL,” said John Brennan, general manager of Florida-based ABS. “The training and service partnership allows AACL to support fleet readiness in-country and reduce turnaround times by leveraging ABS’s industry-leading technical capabilities.”