Gulfstream sells last commercially available G550

Gulfstream Aerospace announced today (June 17th) it has sold the last new Gulfstream G550. The final aircraft will be delivered to a customer in 2021, clearing the way for production to wind down after 17 years and more than 600 deliveries.  

 According to Don Dwyer, co-managing partner, Guardian Jet, the G550 hit an ultra–long spot in the industry, creating city pairs like New York-Tokyo that previously were out of reach. The model subsequently made non-stop business jet international trips a reality for many companies.  

 “The G550 set the standard for subsequent aircraft and the industry,” said Mark Burns, President, Gulfstream. “With more than 600 in service, the G550 has earned its place as a leader in business aviation. Its technological innovations and safety enhancements earned the G550 development team the prestigious Robert J. Collier Trophy in 2003.” 

 While manufacturing of the G550 will end, Gulfstream’s support of the aircraft will continue. With more than 30 service centres on five continents as well as the ability to produce and procure parts, Burns says Gulfstream is  well-prepared to continue offering G550 owners “the highest level” of support. 

 Dwyer told Corporate Jet Investor (CJI) he did not think the end of G550 production would hurt current owners or its value on the resale market. “What an incredible run of airplanes when you think of the roughly 800 G550s and G500s. But then these are iterative designs of the G200s and arguably there is some stuff left in there from the G100s. So, if you think about it, it’s the end of a long line of production – one of the greatest success stories in all of aviation and kudos to Gulfstream.” 

 First announced in 2000, the G550 entered service in 2003. Dwyer told CJI that Guardian Jet has been assisting clients to purchase the aircraft right up to this year. The G550’s range and high-altitude capabilities, Gulfstream says, put it at the top of its class as evidenced by its more than 55 speed records. 

 Dwyer agrees: “If you look at the range of the airplane, it is still the third most capable in all of general aviation. You look at the G650 and the Global 7500 and then right down to the third, there is the G550. It’s a heck of a machine.” 

 According to Guardian Jet data, there is little concern for owners worried about G550s’ value on the used market. Due to the G600 being substantially more expensive, Dwyer thinks that production ceasing will not severely impact G550 resale values.  

 There is even the possibility that value could appreciate: “Certainly, that can happen because the replacement aircraft is considerably more expensive. We kind of saw that with G450s where price stabilised after production stopped and we have seen it in other markets too. I think common wisdom is when you halt production it hurts resale value, but I don’t subscribe to that,” said Dwyer.