Citation Mustang. Citation CJ1+ Citation CJ2+ Citation CJ4

Transcription

1 Sales Delivery Training Winter 2014 Market Update Owner-Flown Turbine Edition Citation Mustang Citation CJ1+ Citation CJ2+ Eclipse 500 Phenom 100 Phenom 300 Piper Meridian Citation CJ3 Daher-Socata TBM 700/850 Citation CJ4 Pilatus PC-12

2 Table of Contents Introduction....1 Citation Mustang...2 Citation M2...3 Citation CJ Citation CJ Citation CJ Citation CJ Phenom Phenom Eclipse Light Jet Liquidity Index jetaviva Light Jet Inventory Piper Meridian Daher-Socata TBM 700 & Pilatus PC Single Engine Turboprop Liquidity Index jetaviva Turboprop Inventory Fall 2013 jetaviva 3753 Howard Hughes Parkway #200, Las Vegas, NV

3 Introduction Dear Reader, Another year down, another exciting one ahead of us. With 2013 now in our rear-view mirror, we ve had time to reflect on the ups and downs and what we saw as driving factors in the current market conditions. jetaviva saw our best year in sales last year to date both in transaction volume and gross revenue. With the Dow Jones Industrial Average trading at over 16,000 points, principals are starting to feel more and more confident about their financial positions and asset value integrity. As we had anticipated from our Fall 2013 Market Update, the end of 2013 brought a flurry of transactions industry-wide, and helped clear out some aging inventory. The markets, in general, have become much more balanced in terms of supply vs. demand, and we see them shifting to seller markets in several segments. In other exciting recent news, our company accepted several new Citation M2 deliveries on behalf of our clients in December 2013, and that jet is everything we hoped it would be. First factory deliveries just started in mid-december, Standard equipped with new Williams FJ44 engines and the new Garmin G3000 flight deck, we re sure this machine will provide a seamless transition path for current CJ and Mustang owners, among many others. To help handle what we foresee being a very busy year ahead of us, jetaviva has recently added two new team members. Jade Duckart, who joined as our Sales Associate for our Citation Team, comes to us with a wide array of skills and abilities, and knows Cessna products inside and out. Most recently, Doug Bornstein joined our team as our TBM specialist. Doug has a wealth of knowledge in everything aviation related, and is a seasoned TBM owner, pilot, and salesman. Moving steadily into 2014, we re looking forward to more exciting product announcements from some of the major players and a continuing decrease in pre-owned inventory attached to a firming with prices. The above relative return to normalcy brings with it a sense of calm that consumers and stakeholders alike have long waited for. Blue skies, Cyrus Sigari CEO, jetaviva The jetaviva Team About jetaviva Ben Marcus Co-founder Cyrus Sigari Co-founder Greg Oswald VP, Phenom Market David Lee VP, Mustang Market Doug Bornstein VP, TBM Market Andrew Gallagher Manager, Sales Operations Justin Beitler Senior Sales Associate Jade Duckart Senior Sales Associate Marcio Lucchese Manager, Phenom Acceptance & Delivery Services Scott Horton General Counsel Derrick Schmidt Director of Maintenance & Technical Services Brian Singer Controller Michelle D Ambra Office Manager jetaviva provides unmatched expertise and client focus to those purchasing and selling owner-flown turbine aircraft. From cutting edge aircraft marketing techniques to aircraft training, acquisition, and technical evaluation, only jetaviva has the knowledge, understanding and breadth of experience to perfectly match the exact turbine aircraft with the mission requirements of today s owner/operator. 1 Fall 2013 jetaviva 3753 Howard Hughes Parkway #200, Las Vegas, NV contact@jetaviva.com

4 Light Jets Cessna As we review the Citation market, we continue to see bright spots that we haven t seen in a long, long time. For the first time since 2008, the number of Citations for sale listed on Controller.com has dropped below the 500 aircraft mark. This number was as high as 700 at one point, showing a significant change in the inventory landscape. This constriction in inventory is making it more and more difficult to find high-pedigree, low time, preowned units, leading way to continued pricing firming. With the factory having significantly reduced the outflow of new production over recent months, the pre-owned market has had some time to enjoy the pressure relief and experience noncyclical firming of the market. Important to note is Textron s (parent company of Cessna) recent announcement of the pending purchase of the Beechcraft corporation. Textron has yet to announce with their go forward plan will be with Beechcraft, however this addition to the Textron portfolio may have some interesting impacts on the Citation product line moving forward. Mustang To start off the Citation market discussion, we start with the Mustang. At the end of last quarter we reported 25 Mustangs for sale out of the 450 built, and today we are reporting approximately the same amount for sale inventory with 28 units for sale representing approximately 6% of the in service fleet for sale and down from over 9% this time last year. A total of 10 preowned Mustangs traded hands in Q4 and six new Mustangs were delivered to end-users. Average pricing has remained relatively unaffected over the past three quarters, hovering in the high $1M mark to the low $2Ms. We see several factors affecting price, but of the most notable are age, hours, program enrollment status, and overall pedigree. We attribute the slight increase in inventory quarter over quarter primarily as a result of the first M2s being delivered from Cessna to owners who owned Mustangs. Moving into 2014 we anticipate seeing a net increase in available Mustang inventory, as many current Mustang owners are M2 position holders, but a decrease in new aircraft being built, likely normalizing the influx. Mustang: Average Value Citation Mustang: 6% For Sale 2 Citation Mustang: Winter 2014 Market Used Aircraft Listings 28 Total Fleet 445 Percent of Fleet for Sale 6.3% Low Ask Price (US Dollars) $1,625,000 Average Ask Price (US Dollars) $2,100,000 Average Airframe Total Time 829 Average Days on Market 254 Pre-Owned Transactions (2013) 50

5 Light Jets M2 The first retail deliveries of the Citation M2 began at the end of December with Cessna delivering over a dozen M2s to their new owners. This marks the beginning of a new era for the 525 model Citation, as the M2 is a highly upgraded version of the refined 525 with a Garmin G3000 cockpit, upgraded interior, winglets, and increased thrust marking the M2 an incremental, yet distinguished upgrade from its predecessor, the CJ1+. There has been little position trading as of yet for the $4.5M Citation, but as first deliveries have begun we expect to see buyers anxious to move to the front of the line. Our firm took delivery of the four of the first M2s delivered on behalf of our Clients and have enjoyed the experience. Look out for jetaviva s CEO, Cyrus Sigari s pilot report on the M2 being published in the upcoming issue of AOPA Pilot. CJ1+ The CJ1+ market has experienced a surprising uptick in activity over the last quarter. In the CJ1+ market, the first three quarters of the year resulted in a bit of a stack up of inventory with 15% of the fleet now for sale. Current CJ1+ inventory is down under 12% for sale. It is likely that the arrival of the M2 may have had a net positive impact CJ/CJ1/CJ1+: Average Value on the CJ1+, bringing market attention back to the CJ1+ as a relatively high value purchase. Pricing for the CJ1+ continues from last quarter with units trading in the mid- $2Ms to high $2Ms depending on pedigree. There is an average of one CJ1+ trading each month. Citation CJ: 17% For Sale Citation CJ1: 13% For Sale Citation CJ/CJ1/CJ1+: Winter 2014 Market CJ CJ1 CJ1+ Used Aircraft Listings Total Fleet Percent of Fleet for Sale 16.8% 12.7% 11.8% Low Ask Price (US Dollars) $840,000 $1,300,000 $2,400,000 Average Ask Price (US Dollars) $1,300,000 $2,100,000 $2,700,000 Average Airframe Total Time 4,044 2, Average Days on Market Pre-Owned Transactions (2013) Citation CJ1+: 12% For Sale 3

6 Light Jets CJ2+ The CJ2+ market has stayed relatively consistent over the last few quarters with just 16 units out of the 225 units built up for sale, down from 18 units last quarter. Approximately half of the CJ2+s that are for sale are in non-usa markets. The majority of the non-usa aircraft for sale are based in Europe. In general we are seeing CJ2+s trading in the high $3M to low $4M range. With the limited number of new aircraft coming to market, we see the CJ2+ continuing to be bolstered. CJ2/CJ2+: Average Value Citation CJ2: 10% For Sale Citation CJ2+: 7% For Sale 0 Q Q Q Q Q Citation CJ2/CJ2+: Winter 2014 Market CJ2 CJ2+ Used Aircraft Listings Total Fleet Percent of Fleet for Sale 10.1% 7.3% Low Ask Price (US Dollars) $2,495,000 $3,900,000 Average Ask Price (US Dollars) $3,000,000 $4,400,000 Average Airframe Total Time 2,861 1,059 Average Days on Market Pre-Owned Transactions (2013)

7 CJ3 The CJ3 market has remained relatively stable, with a consistent amount of inventory available from Q3 to Q4. Demand for lightly use, low-time pre-owned units continue to increase, and supply in that quadrant of the inventory matrix continues to dwindle. CJ3s are trading form the low $4Ms to low $5Ms. We believe that the CJ3 continues to represent be the best value in the single pilot owner-flown pre-owned space. Why? 417 knots, FL450 capability, seating for up to 10 occupants, efficient fuel burns, and 1800 mile + range is without question the best bang for the buck available for $5M or less. Light Jets CJ3: Average Value Citation CJ3: 7% For Sale Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q22013 Citation CJ3: Winter 2014 Market Used Aircraft Listings 28 Total Fleet 406 Percent of Fleet for Sale 6.9% Low Ask Price (US Dollars) $3,900,000 Average Ask Price (US Dollars) $5,500,000 Average Airframe Total Time 1,552 Average Days on Market 238 Pre-Owned Transactions (2013) 44 5

8 Light Jets CJ4 The CJ4 pre-owned market continues to take shape with just six units for sale out of the 140 units built thus far. With the CJ4 being the largest, fastest of the single pilot Citations, there isn t a clear upgrade path for these operators, reducing the likelihood of current CJ4 owners migrating out of their birds. We have seen just a handful of CJ4s trade hands since first production, with prices in the high $6M to low $7M range. These low transactions volumes are typical in the first couple of years after a model s introduction. New CJ4 Deliveries By Quarter Citation CJ4: 4% For Sale Citation CJ4: Winter 2014 Market Used Aircraft Listings 6 Total Fleet 144 Percent of Fleet for Sale 4.2% Low Ask Price (US Dollars) $6,995,000 Average Ask Price (US Dollars) $7,200,000 Average Airframe Total Time 655 Average Days on Market 147 OEM Deliveries (2013) 29 Pre-Owned Transactions (2013) 9 6

9 Embraer Phenom The Phenom market remains healthy, with an honest balance of supply and demand for pre-owned aircraft. Embraer continues to innovate improvements to both the Phenom 100 & 300. For example, ground spoilers will be standard on Phenom 100s delivering in Embraer is also introducing 11 new interior color schemes and improved, articulating seats for new 100s. Deliveries of G3000 Prodigy Touch Phenom 300s have now begun, not just for NetJets, but also for individual customers. Light Jets Phenom 100 In 2013, Europe continued to be a net exporter for used Phenom 100s, with many opportunities for American buyers to purchase reduced price aircraft. As the European economy begins to stabilize, we anticipate that a strengthening Euro and strengthening European equity market will begin to reduce the number of aggressively priced Phenom 100s coming out of Europe in This is good news for all Phenom owners, but perhaps not such great news for prospective Phenom 100 purchasers. The Brazilian economy is a little uncertain these days, and we re seeing more Brazilian Phenom 100s coming to market, although we don t anticipate that these will reach a global market in 2014, as prices remain high due to high taxes paid when nationalizing an aircraft on Brazil. Phenom 100 prices are generally in the mid $2Ms for 2009s, mid to high $2Ms for 2010s, high $2Ms to low $3Ms for 2011s, low to mid $3Ms for 2012s, and mid to high $3Ms for 2013s. There are large variances in optional equipment, maintenance program enrollments, aircraft condition, and so forth, which of course affect value of a specific aircraft. Phenom 100: Average Value Phenom 100: 6% For Sale Embraer Phenom 100: Winter 2014 Market Used Aircraft Listings 21 Total Fleet 300 Percent of Fleet for Sale 5.9% Low Ask Price (US Dollars) $2,395,000 Average Ask Price (US Dollars) $2,855,655 Average Airframe Total Time 645 Average Days on Market 116 Pre-Owned Transactions (2013) 27 7

10 Light Jets Phenom 300 Pre-owned Phenom 300s were hard to come by in 2013 but we think they will become more abundant in It is very rare to find a Phenom 300 owner that doesn t absolutely love his or her airplane, but many of them are starting to get itchy for the next step. We ve spoken with several owners who intend on buying another new Phenom 300 this year, perhaps with upgraded options like G3000 Prodigy Touch or a side-facing divan. They will have to make room in their hangars, so the previous 300 will be sold. Also, many existing Phenom 300s are preparing to take delivery of a new Legacy 450 or 500. It s difficult to tell where prices will shake out this year, but our expectation is that 2010s will sell in the low to mid $6Ms, 2011s in the high $6Ms to low $7Ms, 2012s mid to high $7Ms, and 2013s high $7Ms to low $8Ms. Again, with so much variation between airplanes, it s best to give us a call for our opinion on a specific serial number. Phenom 300: Average Value Phenom 300: 5% For Sale Embraer Phenom 300: Winter 2014 Market Used Aircraft Listings 6 Total Fleet 178 Percent of Fleet for Sale 5.4% Low Ask Price (US Dollars) $6,900,000 Average Ask Price (US Dollars) $7,700,000 Average Airframe Total Time 903 Average Days on Market 108 Pre-Owned Transactions (2013) 4 8

11 Eclipse 500 Eclipse values have remained relatively unchanged for the last quarter of 2013, providing evidence that the Eclipse market is showing signs of healthy improvement. Over recent years, the Eclipse market has been bombarded by unique challenges, one of which has been a highly variable fleet causing confusion over aircraft values. More recently, however a renewed effort by Eclipse Aerospace to eliminate legacy aircraft has helped bolster a more consistent and stable market place. Values for non-legacy aircraft remain strong, while the available for-sale inventory declined sharply in the 4th quarter of 2013, possibly a reflection of increased satisfaction and ultimately increased demand for the Eclipse 500. As we reported in our Fall Market Updates, the Eclipse 500 market is comprised of submarkets determined mainly by the installed avionics versions. Values have remained relatively stable since our last report, with Avio version 1.7 aircraft trading hands between $1M to $1.2M, IFMS equipped aircraft selling for between $1.4M and $1.6M, and Total Eclipse aircraft available for $1.5M and above depending upon the specifics of options, hours, and pedigree. As we look forward into 2014, we anticipate several factors some of which are competing forces to drive Eclipse 500 values and the market as a whole. While we expect to see upward pressure as legacy aircraft are eliminated (upgraded), any slip in Eclipse 550 production schedules could have a negative effect on consumer confidence. Overall, however, we expect Eclipse values to remain stable, with normal market depreciation resulting in trends familiar to any aircraft buyer. Light Jets Eclipse 500: Average Value Eclipse 500: 11% For Sale Eclipse 500: Winter 2014 Market All Eclipse Models Used Aircraft Listings 30 Total Fleet 263 Percent of Fleet for Sale 11.4% Low Ask Price (US Dollars) $395,000 Average Ask Price (US Dollars) $1,257,444 Average Airframe Total Time 496 Average Days on Market 389 Pre-Owned Transactions (2013) 33 9

12 Light Jets Light Jet Percent of Fleet for Sale Light Jet Liquidity Index jetaviva created the Liquidity Index as an informative tool. This measure of relative liquidity for a particular aircraft provides one indication of a markets direction. In other words, looking at recent sales in comparison to the number of sellers is an indicator of supply, demand and subsequently pricing. This is typically correlated to how quickly and how much an aircraft can sell for, independent of all other factors. By no means is this the only factor one should consider when transacting in any market. Light Jet Percent of Fleet Sold 2013 Light Jet Liquidity Index Fall 2013 jetaviva 3753 Howard Hughes Parkway #200, Las Vegas, NV contact@jetaviva.com

13 Light Jet Inventory Currently for Sale by jetaviva Light Jets Visit our website at for additional details, photos, and videos Cessna Citation CJ4 SN 525C 0002 Total Time: 1,180 Hours Details: Single Owner Dual FMS Two place forward Divan Flawless Paint & Interior Professionally flown 2006 Cessna Citation CJ1+ SN Total Time: 1,260 Hours Details: Mark VIII EGPWS TAP Elite ProParts Jepp Charts HF Provisions No Damage History 2014 Cessna Citation M2 SN 525 TBD Total Time: New Details: Q Delivery Position Available! Call for details and contract pricing Embraer Phenom 300 SN 505 TBD Total Time: New Details: August 2014 Delivery Position Available with Garmin G3000! Call for details Embraer Phenom 100 SN Total Time: 600 Hours Details: Two owners since new California based G1000 Dual Mode S Transponders Radar Premium Pax door 11

14 Light Jets Light Jet Inventory Currently for Sale by jetaviva Visit our website at for additional details, photos, and videos Cessna Citation Mustang SN Total Time: 200 Hours Details: Single Owner High Sierra Edition Full Factory Warranties PowerAdvantage+ No Damage History 2009 Cessna Citation Mustang SN Total Time: 1,195 Hours Details: Immaculate Condition All ProAdvantage Programs SVT TCAS XM Radio No Damage History 2009 Cessna Citation Mustang SN Total Time: 435 Hours Details: Still Like new PowerAdvantage TCAS XM Radio No Damage History Single owner 2008 Cessna Citation Mustang SN Total Time: 1,030 Hours Details: Brand New Paint All ProAdvantage Programs SVT TCAS XM Radio No Damage History 1993 Cessna Citation V SN Total Time: 8,955 Hours 12 Details: Refurbished V with AdViz Glass Cockpit 10 seats Increased MGTOW Mid life engines

15 Piper Meridian The market for the Meridian has proven to be quite liquid, with 95 aircraft over 18% of the total fleet changing hands in Compare this to 2012 numbers in which roughly 17% of the fleet transacted, or 83 transactions. The Meridian on-market inventory level presently sits at a healthy 8% of the active fleet, which matches the levels from Fall The current production model of the Meridian features the Garmin G1000 among some other interior enhancements. In addition to factory new deliveries, there were 14 pre-owned G1000 Meridians change hands 2013, representing over 10% of the G1000 fleet. Just over 7% of the G1000 active fleet is for sale right now, which is up slightly from Q Average selling prices have varied between the mid $1.4Ms to the high $1.8Ms, depending mostly on age and hours. The Avidyne Entegra-equipped Meridian market those produced from sits presently with 8% of the active fleet of Avidyne Meridians for sale. The average prices remained fairly flat throughout 2013, hovering in the $1.0M to low $1.3Ms range, depending on age, hours, and pedigree. A total of 38 Avidyne Meridians sold last year. As a bit of a change of pace, the first generation Meridians 2001 to 2005 models have proven most active of the three segments. The on market inventory levels sit at just over 7%, which is down from over 11% in Q Over 21% of the first-gen Meridian fleet transacted in total deals were made. Pricing varies much more in this segment as there is more variation in equipment, especially in avionics. Many of the planes sold in this segment had retrofitted panels, which is likely a reason so many planes traded hands. Average sale prices for first-gen non-retrofitted Meridians ranged from the mid-$600,000 to $900,000 range. Meridian Total: 8% For Sale Single Engine Turboprops Meridian: Average Value Meggitt Equipped: 7% For Sale Avidyne Equipped: 8% For Sale Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Meridian: Winter 2014 Market All Meridian Meggitt Avidyne G1000 Used Aircraft Listings Total Fleet Percent of Fleet for Sale 7.8% 7.5% 8.4% 7.4% Low Ask Price (US Dollars) $630,000 $630,000 $1,000,000 $1,575,000 Average Ask Price (US Dollars) $1,211,640 $835,000 $1,216,000 $1,742,000 Average Airframe Total Time 1,055 1, Average Days on Market Pre-Owned Transactions (2013) G1000 Equipped: 7% For Sale 13

16 Single Engine Turboprops Daher-Socata TBM 700 & 850 TBM owners enjoyed a lively market in 2013 with over 12% of the combined fleet having transacted during the year. The TBM sits squarely between the Meridian and PC-12 in terms of size, performance, and utility, and remains largely without competition in its own market segment. The latest production model the TBM 850 Elite is selling on par with 2012 transaction numbers, though many anticipate changes to the TBM 850 are coming this year from Daher-Socata. We ll hope to report more on this in our upcoming Market Updates. The G1000-equipped TBM 850 fleet has continued to grow, and the transaction numbers have kept up: 20 total 850G machines sold in The TBM 850 Legacy models those with the Bendix/King EFIS suite have the smallest fleet size of all the TBM models, but it was the most active with over 18% of that fleet having transacted in The average pricing for 850L models has hovered between the high $1.7Ms and the $2.0M mark, mainly depending on time, pedigree, and avionics upgrades. For the G models, values have been on a slow decline as that fleet continues to age and depreciate from new pricing. Pricing is in the mid-$2m to $3M range, with variation depending mostly on age, pedigree, and hours. The TBM 700 market has continued to be chased down by the lower end of the 850 market, but nearly 13% of the combined 700 market still sold in The inventory levels of the combined A, B, and C2 fleets also dropped from approximately 9.5% to 8.5% over the past year. A retail buyer should be able to pick up an average A or B model for around $900,000 to $1.3M, while a C2 in similar condition would run in the mid $1.4Ms to the around the $1.6M mark. There is much more variation in equipment, hours, and pedigree in the 700 models (compared to the 850 s), so there have been outliers on both ends of these pricing spectrums. TBM 700A/B: 9% For Sale Socata TBM: Average Value TBM 700C2: 8% For Sale TBM 850 Legacy: 11% For Sale Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Socata TBM: Winter 2014 Market 700A/B 700C2 800L 850G Used Aircraft Listings Total Fleet Percent of Fleet for Sale 8.5% 8.2% 11.5% 4.7% Average Ask Price (US Dollars) $1,161,250 $1,662,800 $1,944,000 $2,574,000 Average Airframe Total Time 2,526 1,620 1, Average Days on Market Pre-Owned Transactions (2013) TBM 850 G1000: 5% For Sale

17 Pilatus PC was yet another banner year for Pilatus owners and operators; values remained high and inventories low as demand outstripped supply. Over 40 new PC-12 s were delivered in 2013, and we estimate that demand exceeded that supply by as much as 30%. With no where else to go, buyers looked to the preowned market and paid near full asking price for late-model, pre-owned aircraft. The pool of available, on-market, aircraft remains at a remarkably low 3.0% of the fleet. With such a small pool, we found it important to look at median, rather than mean, statistics to get a more accurate look at market information. In a pool size this small, influential outliers can dramatically skew the trend lines. Looking at each of the sub-markets in the PC-12 fleet, we see that the dash 45 legacy has remained very stable with 21 of the 568 aircraft for sale (3.7%) which is identical to our prior report. The dash 47 fleet of 202 aircraft has only 4 aircraft for sale < 2.0%, and the 47E, or NG, fleet of 422 aircraft has only 10 aircraft, or 2.4% for sale. The NG aircraft had some notable improvements and retrofits for 2013 that have dramatically improved the owner experience, including Synthetic Vision and the Connected Flight Deck. The Connected Flight Deck dramatically improves the method in updating system data by utilizing a series of portable devise apps and a wireless processes. We see the Pilatus market continuing to be very strong in 2014 with demand continuing to outpace supply. Current owners tend to buy and hold the aircraft, and we suspect that trend will continue until the PC-24 Jet deliveries begin, which will provide a logical next-step for operators. Single Engine Turboprops Pilatus: Average Value PC-12 45: 4% For Sale PC-12 47: 2% For Sale Q Q Pilatus: Winter 2014 Market PC-12 PC PC-12NG Used Aircraft Listings Total Fleet Percent of Fleet for Sale 3.7% 2.0% 2.4% Low Ask Price (US Dollars) $1,650,000 $2,750,000 $3,350,000 Average Ask Price (US Dollars) $2,145,000 $2,816,000 $3,640,000 Average Airframe Total Time 4,127 2, Average Days on Market Pre-Owned Transactions (2013) PC-12NG: 2% For Sale 15

18 Single Engine Turboprops Single Engine Turboprop Liquidity Index jetaviva created the Liquidity Index as an informative tool. This measure of relative liquidity for a particular aircraft provides one indication of a markets direction. In other words, looking at recent sales in comparison to the number of sellers is an indicator of supply, demand and subsequently pricing. This is typically correlated to how quickly and how much an aircraft can sell for, independent of all other factors. By no means is this the only factor one should consider when transacting in any market. Single Turboprop Percent of Fleet for Sale Single Turboprop Percent of Fleet Sold 2013 Single Turboprop Liquidity Index Fall 2013 jetaviva 3753 Howard Hughes Parkway #200, Las Vegas, NV contact@jetaviva.com

19 Turboprop Inventory Currently for Sale by jetaviva Visit our website at for additional details, photos, and videos. Single Engine Turboprops 2008 Daher Socata TBM 850 SN 473 Total Time: 965 Hours Details: Single owner Socata Service Center Maintained G1000 SVT TCAS Enrolled in NMP Maintenance Program 2013 Piper Meridian SN Total Time: 215 Hours Details: Like new in every respect Fresh 2014 Annual Completed G1000 SVT TCAS Dune Leather Interior 17

20 Sales Delivery Training Sources: AMSTAT, JetNet, Aircraft Blue Book, UBS Market Research, JPMorgan, jetaviva Research Team. Cover photo courtesy of Jessica Ambats.