Gulfstream is happy for owners flipping G650s

CJI Team

Gulfstream says it is pleased that G650 owners are able to get value from their aircraft.

Gulfstream Aerospace says that sales for its $64.5 million flagship private jet, the Gulfstream G650, have not been affected by owners re-selling – or flipping – their aircraft for a profit.

To date, Gulfstream has delivered over 60 G650s since Steve Wynn accepted the first G650 in December 2012. Two of these aircraft – registered as G-OMRE and N880MD – were sold on 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.

MUST READ: The Jet Business sells a G650 for more than $70 million

At the Asian Business Aviation Conference & Exhibition (ABACE 2014) in Shanghai last week, Steve Cass, vice president, marketing at Gulfstream, told Corporate Jet Investor that G650s making an early entrance into the pre-owned market is not a problem for Gulfstream. However, anti-speculation clauses prevent G650 owners from marketing their aircraft until they have actually been delivered by Gulfstream.

“There are some customers who have been able to sell their aircraft and actually command a premium price for it,” said Cass. “That’s terrific, we’re happy for them. It’s really not impacting our sales efforts.”

ALSO READ: Gulfstream G650 delivery tracker

According to Cass, G650 owners have told Gulfstream that their priority is to fly faster rather than further, with most of the operators flying their G650s at Mach. 90 (around 685 mph) or faster.

Cass also said that Asia is the largest international market for Gulfstream – and the G650 – and is narrowly ahead of Europe with 230 Gulfstream business jets based in the Asia-Pacific region.

The US aircraft manufacturer is believed to currently working on a replacement for the G450, project name P42, which is expected to launch at NBAA 2014 in October.

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