Five Older Used Jets Worth a Second Look…

1. Large Cabin/Heavy Jets: This is a strong market, but late models suffer from significant depreciation in value during the first five years of service.
   
2. Aircraft younger than 2005 (Mid-size and Smaller): There is a lack of inventory at present, therefore values within this segment are increasing.
   
3. Everything else: Values continue to drop and some will struggle to find any buyer, now or in the future. Worse, still, the part-out market for these aircraft is rapidly diminishing. Many of the jet aircraft in this segment are what I would term ‘Jurassic’ jets.

• Is the aircraft older than 25 years?
  
• Does it have Cathode Ray Tube EFIS (if at all)?
  
• Does it have analog systems instead of digital?
  
• Does it lack the efficiency of winglets (a few exceptions apply here)?
  
• Is it lacking Full Authority Digital Engine Control (FADEC)?
  
• Does it operate with lower engine core by-pass air?
  
• Does it lack efficient/optimized exhaust mixing?
  
• Are there few (if any) composite engine parts?
  
• Does it have lower Inter Turbine Temperatures (ITT)?
  
• Is there a lack of turbine gearing?
  
• Is the aircraft on hard-time engine overhaul intervals (i.e. unqualified for MSG 3/on-condition)?

• Bombardier Learjet 35A (equipped with Honeywell TFE731-2-2B)
  
• Bombardier Learjet 55 (equipped with Honeywell TFE731-3A-2B)
  
• Mitsubishi Diamond 1A (equipped with Pratt & Whitney JT15D-4D)
  
• Sabreliner 65 (equipped with Honeywell TFE731-3DR-1D)
  
• IAI Westwind I/II (equipped with Honeywell TFE731-3-1G).

The criteria used to select the above list of aircraft included:

• A purchase price below US$300k (which is less than the down-payment on a new aircraft);
  
• If Honeywell TFE731 powered, FAA AD 2012-17-05 for the first stage low-pressure turbine rotor discs (due by October 2020) cannot apply. The compliance cost is likely to exceed the value of the aircraft. (This includes the 731-4 and 731-5 series engines);
  
• An airframe maintenance schedule predominantly governed by flight hours, rather than a calendar date;
  
• Landing gear overhauls (if applicable) cost less than $100k to accomplish;
  
• Parts and Components are readily available and relatively inexpensive from multiple ‘third-party’ sources.

• ADS-B compliance will cost too much;
  
• Engines are subject to a calendar interval mid-life inspection/overhaul due to corrosion;
  
• Calendar inspection/checks may exceed the value of the aircraft;
  
• A landing gear overhaul may exceed the value of the aircraft.

• (X) Maximum Gross Take Off Weight (MGTOW)
  
• (Y) Maximum Level Speed (Max VNO)
  
• (Z) Design Range

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