ELLIOTT JETS SELLS FIRST GARMIN G5000-EQUIPPED CITATION 560XL ON THE MARKET
Moline, IL, January 20, 2020 - Elliott Jets, a leader in jet brokerage, acquisition, and trades, has sold the first available Citation 560XL equipped with the recently certified Garmin G5000 integrated avionics suite. In this transaction, the Garmin G5000 was estimated to retain 85 percent of the value of its retail price. The amount retained was even more than the expected value retention, according to the leading aviation appraisal and valuation firm VREF Aircraft Value Reference & Appraisal Services. Also, the aircraft sold in less than half the time of industry average.
The Garmin G5000 system on this airplane, installed by industry-leading Garmin G5000 installer, Elliott Aviation, replaces the existing Honeywell Primus 1000 avionics. The G5000 system includes a new autopilot, ADS-B, WAAS/LPV, electronic charts, engine monitor data, SafeTaxi, XM weather, and emergency descent mode. It has many options, including synthetic vision, underspeed protection, Chartview, turbulence detection, CPDLC, and lighting and hail prediction. In addition, over 150 Citation Excel and XLS aircraft are equipped with Elliott Aviation's ADS-B STC, which allows operators to use a $50,000 credit toward the equipped aircraft's G5000 system. The Garmin G5000 system includes a three-year warranty. It avoids the costly yearly maintenance of HAPP, which can be over $30,000 per year or more.
"We strive to provide accurate pricing and valuation data, so it is exciting to see how accurate the software is," said Jason Zilberbrand, President and CTO of VREF. "VREF has been the most trusted aviation valuation firm since 1994. We have a responsibility to the industry to provide accurate data of aircraft values as well as their optional equipment to buyers, sellers, lenders as well as thousands of subscribers. The Garmin full-cockpit retrofits, like the Garmin G5000 for the Citation Excel and XLS, Beechjet 400A and Hawker 400XP, and the Garmin G1000 NXi upgrade for the King Air offer tremendous added value as well longevity for resale."
"At Elliott Jets, we have focused on maximizing the value of an aircraft transaction for our customers for over 80 years," said Wynn Elliott, Chairman, and CEO of Elliott Aviation and Elliott Jets. "We were confident that the Garmin G5000 system would retain significant retail value and be a highly attractive option for a customer looking for a Citation 560XL. The aircraft is truly one of the most popular Citation models Cessna has ever built because of its unique combination of cabin size, operating economics, performance, and short-field capabilities. With the 560XL still in production, replacement of the Honeywell system with the true state-of-the art fully integrated Garmin cockpit, provides a significant value-added enhancement to this very robust and highly desirable airframe, significantly reducing operating cost and enhancing its operational reliability well into the future."
"In addition to the many functional benefits, operators are encouraged by the value retained on the investment of the G5000 in conjunction with the sale of this aircraft," said Conrad Theisen, Director of Avionics Sales at Elliott Aviation. "Also, replacing the avionics that is nearing obsolescence greatly increases the useful life of the aircraft."
Elliott Aviation has sold over 50 Garmin G5000 systems in the Beechjet 400XP, Hawker 400XP, Citation Excel, and Citation XLS. They currently have five systems in-work.
About Elliott Jets
Elliott Jets has over eight decades of successful aircraft transactions. They provide aircraft brokerage and acquisition services in multiple sales offices across the United States. The company regularly ranks as a top-ten broker based on the number of transactions. It has a proven track record of selling aircraft faster than industry median days on the market. The company also has a full-time research department and employs an ASA Accredited Appraiser. They are a member of the IADA and the National Business Aviation Association (NBAA). For more information, visit www.elliottjets.com.
About Elliott Aviation
Elliott Aviation has been developing and delivering aviation solutions to its partners for over 80 years. As one of the longest-standing companies in aviation, they offer a complete menu of high-quality products and services including aircraft sales (as Elliott Jets), avionics service & installations, aircraft maintenance, accessory repair & overhaul, paint & interior. Serving the business aviation industry nationally and internationally, they have facilities in Moline, IL, Des Moines, IA, and Minneapolis, MN. The company is a member of the Pinnacle Air Network, National Business Aviation Association (NBAA), General Aviation Manufacturers Association (GAMA), National Air Transportation Association (NATA), and IADA. For more information, visit www.elliottaviation.com.
About VREF Aircraft Value Reference, Appraisal and Litigation Services
VREF –Aviation's Valuation Authority offers its real-time valuation software program via online subscription as well as through printed books published quarterly. VREF is a Fully Comprehensive Appraisal Services Company managed by the industry's largest staff of Aviation Specific Senior Accredited Appraisers with the American Society of Appraisers (ASA) and the home of the VREF Verified "Carfax" Report.