Jet Edge adds 27 Challenger 300/350/650s, Gulfstream G450s

Jet Edge International

In a market short of supply, Jet Edge International is adding 27 super-midsize and large cabin private jets that will be flying by December. Here’s how…

Charter operator Jet Edge International has used its $150 million war chest from KKR to quietly snap up 11 Bombardier Challenger 300 and 350 super-midsize jets, five Challenger 650s, and 11 large-cabin Gulfstream G450s. It is also finalizing an order for 15 to 20 new super-midsize and large jets. Deliveries will start at the end of next year.

Here’s how much Wheels Up paid for each of its 5 acquisitions

Wheels Up Kenny Dichter

Kenny Dichter and Wheels Up doled out less than $100 million in cash to build the second-largest private jet operator with a $2 billion valuation

When Wheels Up’s acquired 5th-biggest Part 135 charter operator Mountain Aviation in January, it pushed the group past Directional Aviation’s Flexjet as the second-largest for-hire private aircraft operator in the U.S. For Wheels Up founder and CEO Kenny Dichter, it was a day at the beach compared to another cold New York winter morning in early 2019. At that point, Wheels Up didn’t operate a single aircraft. Founded in 2013, its owned and leased fleet was outsourced to Gama Aviation Signature. Wheels Up was a big brand. Yet, it was merely a marketing organization selling memberships onto what was then mainly a fleet of King Air 350i turboprops.

Gulfstream G700

Gulfstream G700

Gulfstream G700 profile, including current pricing, manufacturing dates, cabin size and passenger capacity, range, speed, baggage space, fractional ownership and jet card options

Gulfstream G700 Facts

Gulfstream’s newest ultra-long-range G700 promises a range of up to 7,500 nautical miles at 0.925 mach with as many as five separate living areas. Developed from the G650, Gulfstream’s new flagship is scheduled to enter service in 2022

Qatar Executive is the global launch fleet customer while Flexjet is the G700 North America launch fleet operator.

While the list price for a new G700 is $75 million

Manufacturing Dates

Production Start: 2022 is forecast for first delivery

Production Ends: Pre-production

The G700 is an extension of the the G650ER

Cabin Category

Large Cabin – Heavy Jet – Ultra Long Haul

Fleet Size

The first G700 isn’t expected to enter service until 2022

G700 Cabin Size and Passengers

Gulfstream G700 interior
Gulfstream G700
Gulfstream G700 cabin layout

Height: 6.3 feet

Width: 8.2 feet

Length: 56.11 feet

Seating Capacity: Up to 19; Sleeps up to 9

Range

Range: 7,500 nautical miles

Speed

High-Speed Cruise: Mach 0.90

Long-Range Cruise: Mach 0.85

Maximum Operating Speed: 0.925 mach

Baggage Space

195 cubic feet, all interior space accessible from the passenger cabin

Access

Fractional Ownership – Yes

Dedicated Jet Card – Yes

Pricing

A new Gulfstream G700 is listed at $75 million

Other Gulfstream models currently in production

Compare over 150 private jet models in the Private Jet Performance Guide.

G650ER

G650

G600

G500

G550

G280

Biggest Private Jet Operators of 2020 led by NetJets, Flexjet, Wheels Up and Vista Global

NetJets Flexjet

NetJets stayed firmly in the top spot among U.S. private jet operators as Wheels Up zoomed from 11th to 3rd place, while Flexjet, Vista Global, and Jet Linx each made gains

Charter (Part 135) and Fractional Operator (Part 91k) flights accounted for 52.5% of total U.S. private aviation flight hours, pushing Part 91 flying below the half-century mark for the first time, according to Argus TRAQPak data dating back to 2007

The 10 largest U.S. charter and fractional operators accounted for 44.3% of Part 91k/135 activity and 23.2% of total business aviation flight hours

TRAQPak’s 2021 forecast indicates full recovery tilted towards second-half

The takeaways from the 2020 Argus TRAQPak annual review of private jet activity in the U.S. underscores two key trends: Consolidation and acceleration of what has a nearly decade-long move from full private jet ownership to fractional shares, leases, jet cards, and on-demand charter. Looking ahead, Argus analysts don’t expect the total industry to return to pre-COVID-19 numbers until the second half of 2021.

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