The next available slot for delivery of Gulfstream Aerospace’s Savannah-built flagship business jet is years down the road. So Gulfstream executives are neither surprised nor concerned to see “pre-owned” G650s — currently price-tagged at about $64.5 million — selling for upwards of $70 million.
In fact, the company says it is happy customers are able to get value from their aircraft.
“There are some customers who have been able to sell their aircraft and actually command a premium price for it,” Steve Cass, Gulfstream’s vice president for marketing, told UK-based Internet publisher Corporate Jet Investor recently.
“That’s terrific, we’re happy for them,” he said. “It’s really not impacting our sales efforts.”
Anti-speculation clauses prevent prospective G650 owners from marketing their airplanes until they have actually taken delivery of them.
To date, Gulfstream has delivered more than 60 G650s since Las Vegas business magnate Steve Wynn accepted the first one in December 2012. Two of these aircraft were sold to second owners within six months of leaving the Gulfstream factory and both have fetched more than $70 million, which is significantly more than the aircraft’s original $59 million list price, according to Corporate Jet Investor.
That G650s are already being resold comes as no surprise to Richard Aboulafia, vice president for analysis at the Teal Group Corp., a Fairfax, Va.-based consulting group that covers the aerospace industry.
“This is an aircraft that will be alone in its class for at least five years, and it’s in high demand,” Aboulafia said Tuesday.
“It only makes sense that people who were able to secure some of the earlier orders stood to make money. In fact, I would venture to say there are people whose sole purpose was to turn a profit rather than own the aircraft.”
First announced in March 2008, the highly anticipated ultra-large-cabin, ultra-long-range G650 has a maximum cruise speed of Mach 0.925 — slightly under the speed of sound — making it the fastest certified civilian aircraft in production. At the slightly slower Mach 0.90, it is capable of cruising 6,000 nautical miles, making such nonstop city connections as Tokyo to New York, New York to Dubai or Moscow to Los Angeles a reality.
When the first G650 was delivered 18 months ago, Gulfstream had more than 200 orders and a wait time of nearly five years.
Source: http://savannahnow.com
Used Gulfstream G650 could cost more than new one
Demand is high for Gulfstream Aerospace’s Savannah-built flagship business jet - the G650 - and the next delivery slot available for a newone is years down the road. As a result, some pre-owned G650 models, which are currently priced at $64.5 million new, are selling for more than $70 million, reports Savannah Morning News.
The paper says Gulfstream has delivered more than 60 G650s since Las Vegas business magnate Steve Wynn accepted the first one in December 2012. Two of the jets were sold to second owners within six months of leaving the Gulfstream factory and went for more than $70 million, which, the paper adds, is significantly more than the aircraft’s original $59 million list price, according to Corporate Jet Investor.
The jets have an ultra-large-cabin, ultra-long-range, and a maximum cruise speed of Mach 0.925 — slightly under the speed of sound — making it the fastest certified civilian aircraft in production.
The Savannah paper says that when the first G650 was delivered 18 months ago, Gulfstream had more than 200 orders and a wait time of nearly five years.
Source: http://www.bizjournals.com
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