Our feature Wheels on Fire, published in CJIQ Q3 2023, probed the long, and at times winding, path taken by the company as it restructured. We talked to the key people in the room, including Kenny Dichter, who played a leading role in planning  the business’s profit-focused future.

The second short-listed feature, ‘We are a company of engineers’, was also published in CJIQ Q3 2023. This article, based on an interview with top Dassault Aviation executive Carlos Brana and colleagues, explores how  engineering skills and disciplines are said to be helping the company thrive in the highly competitive world of business jet manufacturing.

“Most of us are engineers here – we are a company of engineers,” Brana told CJI last year, as the company celebrated 60 years of making Falcon jets.

According to the Aerospace Media Awards organisers: “The Aerospace Media Awards have been created to honour journalists and publishers who have made a significant contribution to aerospace journalism and publishing.”

Launched 11 years ago, this year’s awards  will be presented in London on Sunday, July 21st, 2024.

Meanwhile, you can sign up for your free copy of Corporate Jet Investor Quarterly here. Also, previous editions of CJIQ digital publication, first launched in 2019, are available to read here.

The post CJI SHORTLISTED IN THE 2024 AEROSPACE MEDIA AWARDS appeared first on Corporate Jet Investor.

Three Gulfstream deals hit the landmark for the company which was founded in 1989 by Joseph Carfgana Sr.

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“We have always prided ourselves as being one of the brokerage firms that’s been around the longest and this number is a testament to that,” Carfagna Jr. told Corporate Jet Investor.

“We realised 1,000 was probably something that was going to happen in the next few years so we made a big deal of it.

“It was exciting to count down as we got very close, but it was just business as usual.”

‘Can’t buy experience’

 The 998^th, 999^th and 1,000th transactions were for Gulfstream G450s for repeat clients.

“In 1994 when I came onboard, we were a very different company – there was no email or internet, so everything moved at a much slower pace, but the principles of what we do are still the same,” added Carfagna Jr, who is based in New Jersey, USA.

“We put a very high importance on making our clients so happy that they’re proud to refer us to their friends.”

Among the 1000 transactions, Leading Edge has completed deals on 242 Gulfstreams, 225 Cessna Citations, 131 Hawkers, 126 Bombardier Challenger and Globals and 121 Dassault Falcons.

“[The secret is] doing things methodically and having good people. You can’t buy experience,” said Carfgana Jr.

Jack Nicklaus

His father began his life in business aviation in 1967 when he joined Bill Lear to sell new airplanes in the north east of the US. One of his first sales was to the golfer Jack Nicklaus. Carfagna Sr. set up Executive Air Fleet (EAF) in 1970 and then Wings Aviation International in 1989, which eventually became Leading Edge Aviation Solutions.

Carfagna Jr. can still remember the first deal he did after joining his father in 1994.

“It was the sale of a Citation 3,” he says. “It was a moment that I won’t forget any time soon. The person we sold it to, we have sold several more airplanes to over the years.”

After all this time in the industry, Carfagna Jr. says he is rarely fazed by anything. “There really isn’t much we haven’t seen – we’ve bought and sold airplanes all over the world, of all different types and as a result when you’ve been around this long not much comes as a surprise,” he says.

‘Needs to be sold’

Of all the deals, though, one particular transaction sticks out. “We were negotiating a deal on the sale of an airplane in September 2008, right after the financial crash, and the parties were arguing over who was to get the china and flatware in the airplane,” he says.

“I advised the client to give them everything they wanted because it was going to be worth a lot less money in a week. I think we saved the client $8m over that. If they had deliberated another few days, it probably would have fallen apart. I just remember thinking, ‘This airplane needs to be sold, the money needs to be wired asap or this deal will never happen.’”

Carfagna Jr. is “fascinated” by the technological advancements in airplanes but after hanging some old sales posters at his offices he notes that manufacturers’ ambitions haven’t changed.

“The vintage ads for airplanes in the 60s and 70s all said the same thing, ‘We will fly you more efficiently, more quietly, at a cheaper cost and faster than our competitors and that’s still what they’re striving to do. They’re just getting better and better at it.”

 For Carfagna Jr., business aviation is in the blood but while he is proud of the legacy it is the future transactions that drive him.

 “Winning the next deal is something that motivates me, all of us, and creating a happy client,” said Carfagna Jr. “Those two things are the primary drivers of what makes me tick and keep doing this.”

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Philipp Zeller, senior vice president Dassault, Business Aviation, Rolls-Royce welcomed the next phase of the engine development programme. “All the tests completed to date confirm the reliability of the engine and show it will meet the performance requirements to power Dassault’s flagship, the Falcon 10X,” said Zeller.

The flight test programme, based at in Tucson, Arizona will include engine performance and handling checks at various speeds and altitudes, inflight engine relights, tests of the nacelle’s anti-icing system and fan vibration tests at various altitudes.

Air tests follow a ground test programme which included the evaluation of the Pearl 10X’s e new ultra-low emissions Additive Layer Manufacturing (ALM) combustor, which is compatible with 100% Sustainable Aviation Fuel (SAF) and a new accessory gearbox, which enables higher additional power extraction. The engine is said to have exceeded its target thrust levels on its first test run will be the most powerful business aviation engine in the Rolls-Royce portfolio, according to the company.

The test programme has now logged more than 2,300 testing hours, both on the Advance 2 demonstrator and the Pearl 10X engine configuration. Combining what is claimed to be the most efficient core of any business jet engine with a high-performance low-pressure system, the Pearl 10X delivers more than 18,000lbf of thrust. Compared with the manufacturer’s last generation of business aviation engines, the Pearl 10X offers a 5% higher efficiency, while delivering outstanding low noise and emissions performance, according to Rolls-Royce. “This combination will enable customers and operators to have premium airport accessibility and fly ultra-long-range connections, whilst also being able to travel close to the speed of sound,” said the company.

The 10X engine is the third power plant in Rolls-Royce’s Pearl line. The Pearl 15 engine equips the Bombardier Global 5500/6500 and the Pearl 700 powers the Gulfstream G700/G800.

Rolls-Royce traditionally names engines after British rivers, featuring in its portfolio the Trent, Tay, Derwent and Welland engines. Striking a more international nomenclature, its Pearl engine may have drawn inspiration from rivers located in two vast potential markets. There are Pearl rivers in the US, located in Mississippi and Louisiana, and in Guangdong Province, southern China.

The Falcon 10X, powered by the Pearl 10X, is expected to enter service in 2027 – two years behind schedule.

The Pearl 10X engine undergoing flight tests on a Boeing 747, based in Tucson, Arizonia.

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Operating under the brand of subsidiary ExecuJet, the factory service centre can support 10-15 aircraft at one time, including Dassault’s largest aircraft, the Falcon 6X. It will also be able to hold the larger 10X, which will reach the market in 2027. 

The 149,500 square foot centre will serve as a hub of business aviation support for the entire Asia-Pacific region. The facility was custom designed to support business aircraft and includes features like a built-in overhead crane for aircraft engine changes. It replaces a smaller facility originally built for aircraft undercover parking.

“Over the last half decade, we have more than doubled our global support capacity and considerably modernised our MRO capability,” said Jean Kayanakis, senior vice president for worldwide customer service. “We now have more than 60 service locations and 15 parts distribution centers around the world, along with the GoTeams necessary to support aircraft in the field 24/7 wherever they may be. This is part of a strategy aimed at keeping us as close as possible to our customers and offering all the services needed to maximize the up-time and value of their Falcon fleets.”

In addition to Kuala Lumpur, Dassault is building a new US flagship MRO location in Melbourne, Florida to support Falcons operating in North and South America. This centre will open in 2025. It is also adding capacity in the northeast U.S with another authorised service centre, Pro Star Aviation, located near Boston. 

In Brazil, it is relocating a facility in Sorocaba, near São Paulo, to the newly opened Catarina International Executive airport.  The firm is also opening a new authorised service centre in New Delhi, Indamer.

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The facility, equipped with a built-in overhead crane for engine changes and other heavy complex work, changed the number one engine, which was then shipped out for engine repairs.

“Chinese Falcon operators previously had to send aircraft to Shanghai or more often it went overseas for engine changes,” said Paul Desgrosseillers, general manager of ExecuJet Haite. “However, after this most recent event we have now demonstrated that it can be successfully performed at our Tianjin facility.”

The MRO facility has a track record of Rolls-Royce and GE engine changes for other aircraft types, such as Embraer Legacy and Embraer Lineage aircraft. ExecuJet Haite performs line and base maintenance on the 7X and 8X. It is certified by the CAAC as well as by international regulators: US FAA, European Aviation Safety Agency, Bermuda, Cayman Islands, San Marino among others. Falcon 7X and 8X  trijets are Dassault Aviation’s most popular aircraft types in China.

Dassault Aviation recently renewed ExecuJet Haite’s authorised service centre (ASC) status for another three-year term.

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The French aircraft manufacturer said that it has 84 Falcon aircraft in backlog as of December 31, 2023 compared to 87 at the end of 2023.

Dassault’s 26 Falcon aircraft deliveries were down 20% year-on-year from 2022.

In addition, the company reported a similar downward trend in new orders for the Falcon aircraft. It said that it received 23 new orders for its Falcon jets in 2023 compared to 64 in 2022.

Although, the company did not state the reason for lower deliveries. However, it is likely that the year-on-year decline was on account of delivery delays for the Falcon 6X – Dassault’s new ultra-wide-cabin jet.

Regulatory approvals for the Falcon 6X from Europe and the US only came in August 2023, further impacting deliveries in the year. The Falcon 6X entered service on 30 November, three months after it received US and European certification.

“The certification of the Falcon 6X is a remarkable milestone for Dassault Aviation. We would like to recognize the EASA and FAA certification teams for their commitment in this demanding process and our customers for their confidence. The Falcon 6X is the first brand new business jet to comply with the latest regulations, which will enhance the safety and security of all new aircraft,” said Eric Trappier, CEO, Dassault Aviation.

Dassault launched the Falcon 6X programme in 2019 after its predecessor 5X witnessed problems with its Safran Silvercrest engines. Falcon 6X is powered by Pratt & Whitney Canada PW812D engines.

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“Dassault Aviation shares this remarkable occasion with its customers, who are sure to receive an exceptional aircraft,” said Éric Trappier, chairman and CEO, Dassault Aviation.

The Falcon 6X certifications follow more than two years of testing, including 1,500 hours of flying. Dassault announced the aircraft in 2017, after which certification became much harder to gain. Commenting in August Trappier said: “The Falcon 6X is the first brand new business jet to comply with the latest regulations, which will enhance the safety and security of all new aircraft.” 

Capable of flying 5,500nm (10,200km), the Falcon 6X can connect London with Hong Kong and Los Angeles with Geneva. The aircraft’s cabin measures 78in (1.98m) in height and has a width of 102in (2.58m).

The $52.75m jet is powered by two Pratt & Whitney Canada PW812D engines. The aircraft has a maximum speed of 594mph (956kmh) and has a maximum cruise attitude of 51,000ft. The first delivery was made to an undisclosed customer.

Meanwhile, read our interview with Carlos Brana, executive vice president, Civil Aviation published in the latest edition of Corporate Jet Investor Quarterly here.

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Last week the European Aviation Safety Agency (EASA) and the US Federal Aviation Administration (FAA) issued type certificates for Dassault’s Falcon 6X. Customer deliveries will start soon.

Certification has become a lot harder since Dassault announced the aircraft in 2017. Regulators are more stringent and OEMs are finding the process more difficult to forecast than before. (The fact that experienced aircraft designers and manufacturers are finding certification taking longer should be a real warning sign for new aircraft entrants like eVTOL companies and their investors.)

The Falcon 6X certifications follow more than two years of testing including 1,500 hours of flying.

“We would like to recognise the EASA and FAA certification teams for their commitment in this demanding process and our customers for their confidence. The Falcon 6X is the first brand new business jet to comply with the latest regulations, which will enhance the safety and security of all new aircraft,” said Eric Trappier, chairman and CEO, Dassault Aviation.

Gulfstream has been through a similar flight test and certification programme with the G700. The G700 is set to complete its FAA Type Inspection Authorization in September and get full certification soon after.

With its 5,500nm/10,200km range the Falcon 6X can fly from London to Hong Kong for dim sum or Los Angeles to Geneva for fondue. While sitting in a big 78inch/1.98m height and 102in/2.58m width cabin. “I really like the Falcon 6X; especially the cabin space and design,” says Alan Nee, founder of broker Premier Aviation and a Falcon pilot. “The quoted fuel efficiency numbers are also very strong.” The aircraft is very quiet and has low cabin pressure. It also has a cool skylight above the kitchen.

New aircraft typically see a boost in sales when they are first ordered and then when the first deliveries are made. The Falcon 6X is entering service into a much stronger market than when it was announced in 2017.

“Now that it is certificated with deliveries starting soon, we expect to see a lot more interest in the Falcon 6X,” says Lee Rohde, president and CEO, Essex Aviation.

Dassault customers are extremely loyal and you can expect a number of Falcon 900 customers to upgrade to the 6X. “I hope they produce more to penetrate the broader market,” says Nee.

Dassault engineers celebrated the Falcon 6X achievements last weekend, but on Monday they were back working on the Falcon 10X.

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Certification concludes a test campaign of more than two years for the large-cabin business jet, during which it logged 1,500 flight hours worldwide. The first Falcon 6X aircraft are now undergoing final completion before delivery to customers later this year.

Gaining the twin certifications was a remarkable milestone, according to Eric Trappier, chairman and CEO, Dassault Aviation. “We would like to recognise the EASA and FAA certification teams for their commitment in this demanding process and our customers for their confidence. The Falcon 6X is the first brand new business jet to comply with the latest regulations, which will enhance the safety and security of all new aircraft.” 

The 5,500nm (10,200km) Falcon 6X combines the best qualities of Dassault Aviation’s business and fighter aircraft expertise to create the longest-range jet in its class with unparalleled passenger comfort and maximum mission flexibility, said Trappier.

The $52.75m jet is powered by two Pratt & Whitney Canada PW812D engines. The aircraft has a maximum speed of 594mph (956kmh) and has a maximum cruise attitude of 51,000ft.

The first Falcon 6X deliveries were rescheduled to take place in mid-2023, after Covid delays prevented the original delivery target of the end of 2022. The aircraft was rolled-out on December 8th 2020 and its maiden flight took place on March 10th 2021.  Transport Canada issue a type certification for the PW812 engine on November 30th 2021.

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There are two reasons for this. First, corporate buyers are ordering aircraft. Second, many of the new entrants that discovered business aviation are happy. OEMs did see a brief pause in sales when several US banks had issues, but demand has bounced back since.

Demand in the second quarter was at the same level as the demand in the first quarter. It felt very similar,” said Phebe Novakovic, chair and chief exec of Gulfstream parent General Dynamics on an analyst call this week. “As we enter Q3, we have a very strong pipeline.”

 General Dynamic’s Aerospace division (which includes Jet Aviation) had a book-to-bill ratio of 1.3 in the second quarter of this year. This is down from 1.96x in the second quarter of 2022 (and 2.03x in 2021). A 1.3x ratio shows the market may be down but is far from out. Gulfstream delivered 24 aircraft in this quarter versus 22 in 2022.

 “It’s really the Fortune 500 that are really driving the demand. These are long-established customers as well as new Fortune 500 customers,” said Novakovic. She says that ultra-high net worth buyer demand is still strong. Gulfstream is also seeing strong demand from the Middle East and Asia.

Dassault saw a slowdown in the last quarter of 2022 which has continued for the first half of this year. The French manufacturer booked 12 new Falcon orders in the first half of 2023 compared with 41 in the first six months of 2022. This gave the company a book-to-bill of 1.33.

Dassault delivered nine Falcon business jets in the first half of the year against 14 in the first half of 2022. It expects to deliver 35 aircraft – including Falcon 6X. While orders are down, it has a backlog of 90 aircraft compared to 87 at the end of June 2022.

Textron Aviation had a book-to-bill of 1.2x. “The market is still quite strong and we’ve posted a strong book-to-bill again in the quarter,” said Scott Donnelly, chair, president and CEO of Textron (we hope he gets three salaries for doing all these jobs). “We continue to be really happy with how the market is behaving in terms of demand and pricing.”

Textron Aviation’s backlog at the end of the second quarter was $6.8 billion – up from $6.4 billion at the end of 2022. Textron had hoped to deliver around 200 jets this year, it expects to deliver fewer now (in 2022 it delivered 178) because of issues with getting parts from suppliers.

Gulfstream had planned to deliver about 145 aircraft in 2023, it is now expecting to be closer to 140 jets. Some of these are likely to be its new G700.

Supply chain problems are easing but manufacturers will not rush to increase production when things improve. This prudence and the new customers who have entered the market mean that the industry is well placed for a soft economic landing – and in a better position for a hard one.

“The demand environment is driven by the fact that people – in particular people who have come into this market and started using aircraft and experienced what private aviation is all about – have had a great experience,” said Donnelly. “They are time machines, right? It allows you to do things that you just can’t do if you’re using commercial transportation. The productivity, the efficiency, the ability to get from anywhere to anywhere on your time and in an expeditious way is something that more and more people have been exposed to.”

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