2019 became a buyer’s market as 55 of the 404 Hawker 800XPs in operation worldwide were now available for sale (representing 14% of the entire fleet), making this a challenging market for sell a Hawker 800XP or similar used private jet.
Consulting brokers, like The Private Jet Company, stay in constant contact with buyers and sellers for years to answer any questions or concerns related to the private aviation industry, aircraft price trends, private jet ownership and future interests and, as a result, become trusted advisors. for any private aviation matter.
Early in the inspection process, our expert inspectors discovered that after placing the aircraft with its new operator, the owner abandoned the top-tier engine and APU maintenance service plans that had been passed down with the aircraft at the time of purchase. . We informed the owner that the lack of the APU and engine programs was a significant reduction in the value of the aircraft.
The estate agreed with our recommendation and decided to re-enroll the aircraft in the Tier 1 Engine and APU Maintenance Service Program.
Although the owner only flew 100 hours in the two years since the engines and APU were removed from the maintenance service plan programs, the engine manufacturer, Honeywell, required a full registration inspection and performance evaluation of the engines prior to acceptance into a new APU maintenance program.
At the recommendation of The Private Jet Company, the estate contracted with Dallas Airmotive to perform the engine re-registration inspection, as they performed the 2011 mid-life inspections for these engines. Upon re-inspection, the engines were found to be in excellent condition and Honeywell agreed to re-register the engines. Based on our direct negotiation with Honeywell on the amount of the initial re-registration purchase, we were able to secure a substantial discount for the owner.
With the 20-year inspection complete and the engines and APUs now re-enrolled in Tier 1 programs, we reached out to potential buyers who inquired about the aircraft. A buyer offered the best terms and after some negotiations on behalf of the estate, a purchase agreement was executed. The new owner was a King Air operator in the Midwest who purchased the company’s first aircraft.
The buyer agreed to accept the recent 20 year G inspection as their pre-purchase inspection and a smooth transaction was concluded with the delivery of a highly upgraded, newly inspected and fully enrolled Hawker 800XP. Both buyer and seller were completely satisfied with the transaction and its outcome.