Private Jet Charter News

In 2007, thousands of people all over the United States discovered the benefits of air charter. And every day, more travelers are discovering just how smart charter can be. It’s easier than ever to become part of the jet set, but there are a few things you should know:

What is a “chartered flight”?
Chartered flights differ from regular, scheduled flights on major airlines in a number of ways. First of all, charters are “on-demand;” that is, they conform to your schedule and needs, rather than you having to plan your day around theirs. Second, with a chartered flight, you’re actually getting the whole plane rather than buying a ticket for each seat.

Chartered flights on private jets can have a number of advantages. Chartering a flight can save you time and, often, money on your business trips. Charter offers the convenience of traveling on your schedule rather than on the airlines’ schedule, and flying to airports which are closer to your final ground destination. Best of all, charter gives you more control over your travel environment, including the comfort, safety, and security of a private aircraft.

Why is private jet charter so popular?
There are over 5300 airports around the United States that can accommodate a private aircraft. Compare that to the fewer than 500 airports served by commercial airlines and you begin to understand the most obvious of time savings associated with private aircraft travel. According to a recent survey people are 60% more productive on private aircraft over commercial travel.

Should I pay a membership fee?
Absolutely not! That’s the beauty of on-demand jet charter…Fly When You Want. Pay When You Fly. Some jet charter companies have you believe that you need to pay upwards of $100,000 to have “access” to a network of aircraft. That is not necessary. Keep your money. Make them EARN your business one flight at a time.

How do I determine if an aircraft is safe?
Safety should be a top priority when choosing a jet.  All charter aircraft are subject to very strict FAA rules regulating their use and operation. The FAA is specifically stringent when it comes to pilot qualifications and maintenance requirements. Further, all aircraft should be subjected to intense scrutiny and inspection by one of three independent aircraft-auditing firms - ARG/US, FlightSafety, or Wyvern. You should always ask for a safety record.

What should I expect to pay for private jet charter?
Prices vary depending on aircraft type. For instance:

Light jet prices range from $1500 and $2300 per hour. Some of the most popular include the Beech Jet 400A, Citation Bravo, Cessna CJ2, and Lear Jet 31.

Midsized jet prices range from $2400-$3600. Some of the most popular include, the Hawker 700/800, Learjet 55/60, Falcon 20/200 and Gulfstream 200.

Large jet prices range $3800-$8200 per hour. Some of the most popular include, Gulfstream III/IV/V, Challenger 601/604, Falcon 900/2000, and Global Express.

Be sure to ask for aircraft photos and tail numbers for any aircarft you are considering. Don’t fall victim, to the “bait and switch”, if a price is too good to be true…there is typically a catch.

Please let us know if we can answer any specific questions for you.

Safe travels!

Even taking a Private Jet to Super Bowl XLIII can present travel challenges.  With over 1000 Gulfstreams, Hawkers, and Beechjets expected to descend upon the Tampa area parking and ramp space at Tampa International Airport will go fast.  Luckily, there are other options.  Within a 40 mile radius, there are 4 other airports with runways suitable for private aircraft. Airports such as St Petersburg/Clearwater Airport, Vandenberg Aiport, Hernando County Airport, or even Lakeland Linder Airport will help alleviate some of the traffic and congestion.

By using the smaller feeder airports, you can eliminate most of the delays associated with the massive amounts of aircraft all trying to depart TIA at the same time. With departure delays of up to 6hrs after Super Bowl XLII, the 45 minute drive to Lakeland might not seem so bad, after all.

Within the past 8 months, the US Air Charter Market has suffered from the perfect storm of exceptionally high fuel prices, a sagging economy, and bad press.  Fuel prices reached their highest in mid-July 2008 and have since retreated significantly, but at that time, a gallon of Jet-A fuel was going for about $7.50 in New York and California.  The economy has been a wreck for several months now with story after story of corporate greed and monumentally bad leadership leading up to a major credit crisis followed by drastically decreased consumer spending.  Additionally, the federal government is attempting to depict anyone using a private jet as an evil corporate fat cat.  What does all of this mean for you?

The net result of this trifecta is that charter companies are becoming increasingly willing to negotiate prices on private jet charters.  With a surplus of charter agents and companies in the industry coupled with a diminished market, the pressure to locate and secure charter business is leading to a buyers market.  Many companies are also offering extras such as complimentary catering, ground transportation, and even spa certificates.  Here are some sample prices of current one-way charters being offered:

Expect these prices to hover right around this mark for as long as the market continues to be bogged down. 

With February school vacation and spring break rapidly approaching, now is the time to start thinking about the family vacation.  As you and your adult companions enjoy cruising to your destination without the hassles of the commercial airports, take time to remember what it was like to travel as a child.  Hours of limited personal space with little to do conspire to turn even the most well behaved child into a whining, discontent, fidgeter.

[caption id=“attachment_162” align=“aligncenter” width=“206” caption=“Some Travel Essentials”][/caption]

So for this travel season be sure to think of the little ones.  Most private aircraft are now equipped with lavish entertainment systems ranging from private in-seat monitors found aboard light jets such as the Beechjet 400 or Hawker 400XP to massive flat panel displays on the larger jets such as the Gulfstream 400/500 and Global Express.  Many aircraft even allow you to connect your child’s own gaming system to the on-board monitors.

Additionally, while you may enjoy a nice grilled Parmesan Encrusted Portobello Mushroom with White Truffle Oil, the kids will most likely just want some PB&J.  Fresh baked cookies and some sandwiches will do wonders to keep the blood-sugar up and the tempers down.
[caption id=“attachment_170” align=“aligncenter” width=“131” caption=“Emergency Tantrum Control”][/caption]

But, whether jetting off to Spring Training in Florida or winging your way to the ski slopes of Colorado be sure to give the kids headphones so you can enjoy a blissful beginning and end to your vacation.

Everyone seems to have an opinion on this so I thought that I would share mine.  Admittedly, as the owner of Executive Charter Services, a private jet charter agent, I have a significant amount of bias when it comes to individuals and corporations making use of private jets such as Gulfstreams or LearJets.  But after you clear away the hyperbole and the pithy sound bites what remains is that the proposed recipients of the “Bailout” money are companies who find themselves in dire financial trouble.  I’m not arguing how they wound up in this position, nor past usage of the company jet, but now - RIGHT NOW, is when private aviation is going to be most crucial to the survival of these companies.

The ability to travel from meeting to meeting with efficiency and rapidity, hold high level discussions en-route, and minimize lost productivity while away from the office is precisely why private jets are utilized.  You don’t see President Obama schleping around on Southwest, do you?  No, the taxpayers foot the bill for Air Force One and we are happy to do it.  We know that AF1 provides speed, security, and safety, to the most important American during this important time in our history.  While the media enjoys proclaiming private jet usage as the ultimate in wasteful spending, it is often more cost effective to charter a private jet than to fly commercially.  When all of the factors are taken into account - lost productivity, lodging, meals, rental cars, etc - the private jet becomes a true business tool.  (SEE BELOW FOR A CASE STUDY) But the media isn’t interested in that, the close detailed comparison would take too long and besides, it’s much easier to jump on the bashing bandwagon.

I will be among the first to admit that there has been and most likely will continue to be misusage of corporate controlled private aviation, but let’s not force troubled companies to add to their difficulties by arbitrarily compelling them to travel via commercial airlines.  I haven’t even mentioned the economic impact that the aviation industry and the private aviation sector have on the US Economy.  Billions of dollars of lost revenue, taxes, and jobs will result from a massive curtailing of the industry.

Yes, I agree oversight is needed and a more careful approach to determining the right use for a private jet is appropriate, but I also maintain that stopping use of private aviation altogether will ultimately hinder the recovery process.

CASE STUDY
A senior partner and five attorneys from a large and well known law firm based in Manhattan needed to fly from New York to Macon, GA for a full day of depositions and dinner with the client. The earliest airline flight with connection to Macon departed at 8:30 a.m. wouldn’t arrive until close to noon, forcing the quintet to depart New York the previous evening. Additionally, there were no flights departing Macon connecting to New York after 7:00pm which meant that they would have to spend 2 nights in Macon and leave the following morning for arrival at 10:30am back in NY. They contacted Executive Charter Services for assistance in determining if using a private jet would be cost effective.  We quoted a charter flight price of $9,475 for a seven-passenger Hawker 400XP business jet. The lawyers departed from Teterboro, NJ, near their homes, at 7:15am and arrived at the client’s office by 9:30am.  Because the five polished the questions for the deposition and worked on other cases while in the air, they were productive and billing during the 2 hours that normally would have been lost to travel.  After a full day of work and early dinner with the client, they departed Macon at 8:00pm, summarized the deposition on the way home, and were back on the ground in New York by 9:45 p.m.  While the cost for last-minute commercial tickets was about $4000 less than the price of the charter, the firm was able to add back 15 hours of billable time, saved the cost of 5 hotel rooms for 2 nights, and had 5 well rested, fresh, and happy attorneys who spent the night at home with their families.  In the end the private jet was actually $685 less than the commercial airline, making it a clear choice that chartering was the right option.

[youtube=http://www.youtube.com/watch?v=J64Qf3np5XA]

[caption id=“attachment_272” align=“aligncenter” width=“500” caption=“Full Route for 2009 \‘Speed Around the World\’ Attempt”][/caption]
As reported in CharterX Daily

Jared Isaacman and his co-pilot Doug Demko have taken off for their latest attempt at an around-the-world speed record in a light jet while raising money for the Make-A-Wish Foundation.

Airport operations at Morristown Municipal Airport in New Jersey confirmed that Isaacman’s Cessna Citation took off about 6:30 p.m. Sunday, destined for St. Johns, Canada, the first leg of the flight.

Isaacman, 26, of Washington Township, New Jersey intends to fly around the globe, more than 22,000 miles, in about 65 hours. If all goes according to plan, the jet will return to Morristown Airport Wednesday. That would break the record of 82 hours set in 1991. Light jets weigh between 6,600 and 13,200 pounds.

Landings are planned in St. Johns, Canada; the Azores; Sardinia, Italy; Luxor, Egypt; Muscat; Oman; Thailand; Manila; and Seoul, among other stops.

Last year Isaacman raised $60,000 for the Make A-Wish Foundation, which grants the wishes of children with life-threatening illnesses, but fell short in his attempt to break the speed record.

Isaacman is the founder and chief executive officer of United Bank Card Inc.

Donations can be made online at http://www.speedaroundtheworld.com.

Isaacman will use funds from his company’s account to match all donations on the Web site up to $20,000.

According to a data recently released from ARG/US, March saw an 8 percent increase in General Aviation flight activity over the previous month.  This marks the second month-over-month increase in air traffic flight data from ARG/US and further strengthens hope that this is indeed a solid recovery sign for the business aviation industry.

ARG/US, the Cincinatti-based specialized aviation-services firm, estimates that flight activity has dropped an average of 1.76 percent per month over the last 12 months, with total flight activity declining 20.45 percent in that period. Compared with March last year, business jet and turboprop traffic was down 26.2 percent last month.  So, while still down as compared to a year ago, this increase in traffic shows that the industry is taking the first tentative steps to making a full comeback.

In a rush to report a story about the sinful wasting of American Taxpayers money, one local news station erroneously reported that several banks who are recipeients of bailout money flew their high priced toys to the Masters Tournament.  Shame on them for not getting the whole story before adding fuel to this already out of control fire.  Hopefully, the lesson has been learned; no matter how good the soundbite is, it means nothing unless it can be backed up by accurate facts.  Too bad News 12 wasn’t as public with their “apology” as with the damning story to begin with.

from http://www.wrdw.com (News12)
AUGUSTA—-Last week, News 12 brought you the story of several jets that flew into the Augusta area during Masters Week that are owned by some banks that have been in the headlines lately. News 12 has since learned that while the jets are owned by the Wachovia and Bank of America, they are not operated by them. We have been told the banks have no input on where the planes fly or when.

The banks provided loan money to private individuals to buy the planes, but they are not paid off yet and thus, they are still owned by the banks. It is not much different than a mortgage or car loan. You live in the house or drive the car, but the bank still technically is the owner until you pay off the balance.

Until recently, getting a great deal on a private charter meant flying during off-peak days, generally in the opposite direction of the crowd - or in short, using an Empty Leg. 

All of that has changed.  With the advent of Point to Point Pricing and Floating Fleets, nearly every charter can take advantage of special reduced pricing.  With round trip prices better than what local operators can supply and “One-Way” prices consistently 60-70% of full round trip rates, the Floating Fleet is quickly gaining traction.  A quick look at a comparison between Marquis Jets, Sentient, and our Point to Point pricing using the same charter flight shows that Executive Charter Services is the clear choice each time!
[caption id=“attachment_326” align=“alignright” width=“417” caption=“One-Way Charter, New York to Miami”][/caption]

[caption id=“attachment_339” align=“alignright” width=“300” caption=“No Dough, No Go”][/caption]JetDirect Aviation, the company that went on a wild acquisition spree in 2007 - snapping up big league companies such as Sentient Jet and Jet Corp - has filed a Chapter 7 bankruptcy petition with the U.S. Bankruptcy Court in Delaware on Friday 5/8. 

Recently, JetDriect Aviation has sold all of its assets to the JetDirect Aviation Acquisition Company now known as Wayfarer Aviation.  The new company has hired roughly half of the former employees back on, but the remainder of those left jobless are still owed unpaid salaries and benefits.

For many months after the acquisition of Sentient Jet, there were internal industry rumblings from charter operators who had flown charters for Sentient but were having a hard time getting paid.  The problem, as JetDirect/Sentient put it, was in reconciling several accouting systems causing delays in processing payments.  While the era of a JetDirect controlled Sentient Jet has ended, it serves to underscore that explosive growth for its own sake (espeically in a volitile and unsteady economic climate) can often lead to this kind of “house of cards” collapse. 

As an industry veteran and firsthand witness to a similar collapse in 2002 of a substantial charter agent, I am always cautions when dealing with a company that grows very rapidly in compressed period of time.  Flashy marketing and good PR, do not, a solid company, make.  In every industry, but particularly in Aviation, a strong foundation comprised of forward-looking leadership, smart management, loyal employees, and a steady but not-rushed expansion plan is essential to corporate survival.  There is an old phrase about the aviation industry - “If you want to wind up with one million bucks in this job, you’d better start with two.”

[caption id=“attachment_345” align=“alignright” width=“115” caption=“Regatta Racing Off Martha\‘s Vineyard”][/caption]Memorial Day Weekend, traditionally signifes the start of summer travel for the Jet-Set.  The weekly exodus from to Martha’s Vineyard, Nantucket, West Hampton,  Lake Tahoe, Las Vegas, and the Mexican Riviera begins as elite travellers exchange the heat and congestion of their respective cities for quiet, comfort, and luxury.  While travelling via private jet charter is usually quick, convenient, and easy, the summer months bring some additional challenges of which to be aware:

Weather - Summer thunderstorms can really shake up the best laid travel plans.  When the heat of a long day of summer sun combines with increased humidity and unstable air, thuderstorms are likely to pop up.  Typically, the storms start to build in the mid to late after - or right when your Gulfstreams and Lear Jets are scheduled to depart to whisk you to your weekend getaway.  By moving your departure time up a few hours to late morning or very early afternoon, you can typically avoid the delays associated with the weather.

Congestion - it’s no surprise that Thursday and Friday afternoons are the most heavily travelled days at your local executive airport.  Analysis at Teterboro Airport, serving the NYC metro area, shows a 20% increase in the amount of jet traffic on a typical Friday afternoon as compared to Wednesday.  Again, plannning your flights to miss the heavy traffic periods will help shorten your potential wait for takeoff.

Special Events - From the Indianapolis 500 at the beginning of the summer, through all the special events such as MLB ALL Star Game, US Open, and Wimbledon, to the World Series at the end, attendance will be high.  Jet arrivals into these host cites can sometimes be chaotic, so plan accordingly.

While these challenges can be detrimental to your schedule and impact your time away, remember that you are travelling by private jet and that it’s really not all that bad to be you.  Have a great summer!

The following jets are available as one-way charter flights. Many can be combined to create complete round-trip travel. With over 10 years of experience as a private charter agency, Executive Charter Services has the reputation for excellence and safety that you demand. For pricing and other company information, please visit http://www.execcharter.com or feel free to contact me personally at 866.359.3932.

CLICK HERE FOR ONE-WAY LISTING

Kevin W. Godlewski
President, Executive Charter Services

[caption id=“attachment_378” align=“aligncenter” width=“500” caption=“New Terminal, Nantucket Airport”][/caption]Just in time for the summer travel season, Nantucket Memorial Airport (KACK) has opened the newly renovated and expanded passenger terminal. The building includes advanced environmentally responsible, or “Green”, technologies such as a geothermal heating and cooling system, tank-less water heaters, and low-flow fixtures in the lavatories.  Interestingly, the new deck chairs were stored outside for a year to achieve that weathered look so indigenous to Nantucket.

Regardless of whether you arrive by charter jet, or commercial airline, the new terminal at Nantucket Memorial Airport is ready to welcome you to your favorite New England summer escape.

from NBAA - No Plane No Gain campaign:

The people and companies that rely on Private Air Charter know that utilizing a private jet is a valuable strategic choice, particularly in an unforgiving economic and political climate.  However, those outside of the business aviation community are often unaware of the benefits that chartering a private jet can provide.  When reviewing your air travel choices, use this checklist to see why using private jet charter is the best option for your mission.

 This flight absolutely cannot be canceled or delayed significantly.
 The destination is not easily served by commercial airline service.
 Need the ability to work and communicate aboard the flight.
 Proprietary information will be discussed aboard the flight.
 Need the ability to visit several cities in one day.
 Need the flexibility to allow for changes in the itinerary.
 Carrying specialized parts/equipment

If you’ve found yourself agreeing with these statements, you will want to investigate chartering a private jet for your travel needs.  In many cases, particularly with several passengers going to the same destination, a private aircraft can be as cost-effective as utilizing commercial airlines.

As recently reported, Teterboro Airport, will be closed for runway repairs in July. The rehabilitation of Runway 6/24 will cause the complete closure of the airport to all fixed-wing aircraft (I.E. Private Jets!) as per the following schedule taken from the FAA Website:

FRIDAY, JULY 10, 2009 through SUNDAY, JULY 12, 2009:
Runway 1/19 and Runway 6/24 closed from 2300L 7/10/09 (0300Z 7/11/09) to 1100L 7/12/09 (1500Z). AIRPORT CLOSED TO FIXED WING TRAFFIC DURING THIS TIME.

FRIDAY, JULY 17, 2009 through SUNDAY, JULY 19, 2009:
Runway 1/19 and Runway 6/24 closed from 2300L 7/17/09 (0300Z 7/18/09) to 1100L 7/19/09 (1500Z 7/19/09). AIRPORT CLOSED TO FIXED WING TRAFFIC DURING THIS TIME

All aircraft (except helicopters) heading to the NY Metro area must make use of other local airports such as Westchester Airport, Morristown Airport, Essex County Airport, and Ridgefield Park Airport.  Don’t forget, private jets are also welcome to use Newark, LaGuardia, and JFK airports as well.  While Teterboro’s closure will cause some headaches, proper planning and foresight will keep the delays and inconveniences to a minimum.

two of the largest players in the Fractional Aircraft market, have announced staff reductions and…

Originally reported in AIN

CitationShares and NetJets, two of the largest players in the Fractional Aircraft market, have announced staff reductions and voluntary leaves-of-absence and reduced scheduling to meet the declining owner demand levels.

A voluntary furlough-mitigation program collaboratively formed in April by NetJets and its pilot union, the NetJets Association of Shared Aircraft Pilots (NJASAP), has averted layoffs and furloughs. “Through innovative and purely voluntary measures, NetJets has been able to align our pilot and other areas of our workforce to match our current owner demand levels,” NetJets chairman and CEO Richard Santulli told AIN.

“The voluntary measure process succeeded because of strong employee participation and significant collaboration with [NJASAP]. Because of the success of voluntary measures, we are not planning at this time to right-size our workforce through layoffs or furloughs.

Under the program, union members could choose an early-out option or short- or long-term leaves of absence. Among other solutions offered were voluntary reduced scheduling and a temporary construct allowing crewmembers to receive time off in lieu of pay.

While on Tuesday July 2, fractional-share operator CitationShares laid off 41 office staff and furloughed 52 pilots, according to CEO Steve O’Neill, “to match both the flight activity with staffing levels as well as operating revenue with expenses. We had too much capacity both inside and outside the office for current and projected levels of business.”

He further indicated that the decline in selling and flight activity has begun to level off. “Customers exiting for financial reasons have all but stopped,” O’Neill said.  “Now we feel like we’re in a healthy place.” The reduction in staffing levels comprises about 16 percent of CitationShares employees.

Check out some private jets that are available as one-way charter flights. Many can be combined to create complete round-trip travel.

The following private jets are available as one-way charter flights. Many can be combined to create complete round-trip travel. With over 10 years of experience as a private jet charter agency, Executive Charter Services has the reputation for excellence and safety that you demand. For pricing and other company information, please visit http://www.execcharter.com/ or feel free to contact me personally at 866.359.3932.

- Kevin W. Godlewski. President

* indicates AirPool availability

The glamour has long faded from the job of a flight attendant, but the occupation still captures the imagination of a public fascinated by the constant travel and work above the clouds.

Excerpt from CNN.com

The glamour has long faded from the job of a flight attendant, but the occupation still captures the imagination of a public fascinated by the constant travel and work above the clouds.

“When my mom was a stewardess in the 1950s, they wore white gloves and they learned to serve lobster thermidor table-side,” said Rene Foss, a flight attendant for 25 years and the spokeswoman for the Association of Flight Attendants.

“Instead of wearing white gloves, I’m wearing rubber gloves; and instead of learning to serve lobster thermidor, I’m learning to put handcuffs on passengers.”

—-Thats just about all that needs to be said about today’s “Airline Experience” doesn’t it?

After a months long free fall, it feels like the business jet market is starting to stabilize, said Jack Pelton, head of Cessna Aircraft.

As reported by Molly McMillan for CharterX

After a months long free fall, it feels like the business jet market is starting to stabilize, said Jack Pelton, head of Cessna Aircraft.

“At some point there, we’ll be able to call the bottom,” Pelton, the company’s chairman, president and CEO, said of the drop in the market. “The negatives, like (order) cancellations are slowing down; we’re starting to see orders start to rise again.”

Aircraft deliveries are expected to hit their low next year, which will be followed by a steady climb, he said.

“The slope of that rise will be dependent on what the economy does,” he said.

Pelton’s boss, meanwhile, said Cessna’s parent company is not interested in selling the Wichita company.

“I don’t know where all the rumors come from,” said Scott Donnelly, president and chief operating officer of Textron. “I think I can be clear that no one is interested in any way, shape or form in divesting Cessna out of Textron. It’s a central asset of what Textron is.”

Pelton spoke last week in a broad-ranging interview on the eve of the world’s largest gathering of general aviation airplanes and airplane buffs at AirVenture in Oshkosh, Wis.

Cessna has cut half of its work force — about 8,200 people — since November. The company has had to cut production, and employees, as order cancellations and deferrals have stacked up during the economic downturn.

The layoffs include last month’s announcement of 1,300 cuts, including 500 employees who will receive 60-day notices by mid-August. Those cuts, Pelton said, will put Cessna at the right employment level for 2010’s planned lower production rates.

Pelton said he also has heard the rumors about Textron looking for buyers for Cessna.

“I work closely with the Textron board of directors,” he said. “I’ve never felt better than knowing in this difficult time, they are really committed to Cessna.”

Donnelly said there is no question Cessna and the entire general aviation industry are going through a tough time.

“We’ll come out of this an even stronger company,” he said. “We have a great brand, a great franchise and one, I know, will drive a lot of value going forward.”

Even in a business that is as cyclical as general aviation, Pelton said watching the business jet market continue to deteriorate has been difficult.

“When we saw the indicators continue to deteriorate past what we saw in the last recessionary period ... it became very clear we were in uncharted territory with circumstances that we’ve never seen in the past,” Pelton said. “That was very startling.”

Pelton said downturn has been a personally distressing time, forcing the company to dismantle what employees have built over the past five years. 

“Every time we have to reduce production and lay people off, it is a recurring nightmare,” he said. “I’ve had more of those days than I would ever like to relieve in my life again.”

Pelton also touched on a variety of other topics:

He said the biggest surprise of the downturn has been the amount of negativity and stigma surrounding the use of business jets.

Leaders of the Big Three automakers were criticized by members of Congress when they arrived on private jets to ask for a federal bailout. Early legislation, later changed, would have required companies receiving federal bailout funds to divest their corporate aircraft fleet or their jet leases.

It’s been a “constant haranguing — almost as if you’re involved in something that’s evil,’’ Pelton said. “It hasn’t stopped.”

Earlier this year, Cessna Aircraft unveiled an ad campaign to showcase the value of business aviation.

The company may have canceled the long-range, large Citation Columbus program, but long-term, the fundamentals for the aircraft remain.

Last year, the state, county and city approved more than $70 million in cash assistance and tax breaks to entice Cessna to develop the new jet in Wichita. The project was to have created 1,000 jobs with an annual payroll of $74 million. Cessna returned $10 million to the city and Sedgwick County earlier this month.

As reported by Molly McMillan for CharterX “We have an enormously faithful group of installed customers that are flying everything from 172s to Citation Xs,” Pelton said. “Long term, we’ll need to have products that will satisfy their needs as they grow and expand.”

Cessna continues to make significant investments in new product development in the light and medium planes, he said.

None will be announced, though, until the market improves, Pelton said. 

“If we were to go out today and hold a major press conference… everybody would say, ‘That’s great! I’ll call you when things get better.”