By James Becker, Accredited Senior Appraiser and Mike Fischer – Aircraft Research Manager
4/6/2020
Are you in the market for a bargain buy on a midsize jet? The midsize category is a great choice for many corporate fleets and charter operators. Within the category, however, there are three models of aircraft that we have identified as excellent bargains. These airframes can be purchased at between 20%-30% of their MSRP cost new. At Elliott Jets, our industry relationships and eight decades of buying and selling aircraft gives us access to many off-market aircraft not available to most buyers. When you hire us to acquire your next aircraft, we will manage the pre-purchase inspection, contract negotiation, and closing documents, saving you both time and money while mitigating risk and uncertainty.
# 3 – Lear 45XR
Known for its speed and high service ceiling, the 45XR is a fast and efficient workhorse for many corporate flight departments, charter operations, and even military and government operations around the world. An upgraded version of the Lear 45, the 45XR adds many features, none more notable than its TFE731-20-BR engines. With the upgraded engines, the 45XR offers higher takeoff weights, greater payload, faster cruise speed, and much improved runway performance with the increased 3,500 pounds of thrust from each engine.
The Lear 45XR was produced from 2004 until 2013, and its successor, the Lear 75, is still being made today. With Learjet slowing production in recent years, 45XR values have dropped significantly, which makes them perfect for a price-conscious buyer. Aircraft Bluebook values a 2010 45XR at $3.6MM, just 28% of its MSRP of $12.8MM brand new in 2010. With nearly 600 combined Lear 45/45XR/75’s still flying today, the Lear 45XR has great parts availability and can be serviced at numerous MRO facilities around the country.
#2 Hawker 900XP
Want super-midsize range and comfort for midsize pricing? If so, you may want to take a look at #2 on our list, the Hawker 900XP. At 736 cubic feet of volume, the Hawker 900XP’s 6ft wide, and nearly 6ft tall cabin is one of the largest in its class. Built on a proven airframe, the 900XP is the most recent and last variant of the long-lasting Hawker 125 series. The 900XP improved upon its predecessor, the 850XP, by upgrading its engines to the Honeywell TFE731-50R engines, increasing an already fantastic maximum range of the 850XP to nearly 2,900 nautical miles.
After Hawker Beechcraft halted production of the 900XP in 2012, prices understandably dropped significantly. Right now, Bluebook values a 2010 900XP at only $4.1MM. That’s just 26% of its MSRP of $15.8MM in 2010. There are numerous service centers able to work on Hawkers, and also plenty of support for modernization upgrades for the 900XP’s Proline 21 Avionics, which can include features such as WAAS/LPV and Synthetic Vision. This upgrade is now available with flexible options that do not require a customer to purchase higher-priced options like Synthetic Vision.
#1 Lear 60XR
Much like the Lear 45XR, the Lear 60XR is known for legendary Learjet performance. With a max speed of 465 knots and range of nearly 2,400 nautical miles, the 60XR is one of the best performing Learjets ever made. Along with rocket ship like climb performance, the 60XR is actually quite efficient, a rather unique combination in the midsize category. Cabin comfort is also a selling point of the 60XR. Similar in cabin height to the 900XP, the 60XR provides an additional nine inches of head room over the Lear 45 series. The 60XR is the successor of the popular Lear 60, with the primary upgrade being the addition of Rockwell Collins Proline 21 avionics suite.
The Lear 60XR was produced from 2007 until 2013. Since production halted, prices have steadily declined, and currently Bluebook value of a 2010 60XR is just $3MM. With a MSPR of a new 60XR at $13.8MM back in 2010, current values are less than 22% of new. There are currently 403 Lear 60/60XR’s flying today, so just like the 45XR and the 900XP, the 60XR is well supported by numerous service centers across the world.
Wrap Up
If you’d like to talk about finding the right airplane for your mission, contact sales@elliottjets.com or call 844.937.5387. You can also request a free valuation of your aircraft here. Make sure to sign up for our mailing list to receive other tips on how to find the best bargains in used jet markets.
About James Becker
Jim Becker has been an aircraft analyst for 27 years. He holds an F.A.A. Airframe & Power Plant Mechanic license and is a graduate of the Aviation Institute at the University of Nebraska at Omaha. He is an Accredited Senior Appraiser with the American Society of Appraisers. James has an extensive knowledge of the aircraft market and has tracked and analyzed thousands of aircraft transactions. Under his Aircraft Specific designation with the American Society of Appraisers, James specializes in developing current and projected market values for used reciprocating engine aircraft and turbine-powered aircraft, including corporate, commuter and private applications of airplanes and helicopters as well as all types of airline equipment. James is based in Elliott Aviation’s Des Moines Iowa facility.
About Mike Fischer
Mike Fischer joined Elliott Jets in 2018 as a market analyst. He is a graduate of Northern State University in Aberdeen, South Dakota. With his combination of business, accounting and banking industry background, along with his passion for aviation, Mike provides trusted and reliable valuations of numerous business jets and turbo props. Fischer’s expertise includes Phenom, Hawker, Learjet, Challenger, Citation, Premier and most single-engine turbo prop markets. A third generation pilot, he holds multi-engine, commercial and instrument ratings. Mike is based out of Elliott Aviation’s Eden Prairie, Minnesota facility.