SINGAPORE, February 13, 2014 – Nextant Aerospace (“Nextant”), maker of the Nextant 400XTi – the world’s only remanufactured business jet – and the forthcoming G90XT turboprop, today announced high expectations for the Asia Pacific (APAC) region. Recently appointed Exclusive Sales Representative, Nextant Pacific Pty Ltd (“Nextant Pacific”) will spearhead operations in SE Asia, Australia and New Zealand including sales, marketing and customer support.
The APAC region has historically seen strong demand for entry-level aircraft with Nextant predecessor airframes commanding the lion’s share. There are 173 entry-level jets and 1,246 turboprops in the region valued at over $1.3 billion. However, with an average age of 16 and 19 respectively, much of the fleet is now ripe for replacement or remanufacturing.
With the cost and downtime of heavy inspections, technical obsolescence of existing systems and operating efficiencies available from modern engines and avionics, Nextant remanufacturing can pay for itself over a surprisingly short investment horizon. The two largest Beechjet fleet operators in the world have recently committed their fleets to Nextant remanufacturing, citing the clear economic advantages.
“Nextant Pacific is well positioned to capture a very strong potential market,” said Jay Heublein, Nextant Aerospace Executive Vice President for Global Sales and Marketing. “There is no one in the region with better market or technical knowledge than Managing Director John Oppenheim. We already have one aircraft on the Australian register. Now that we have a top-quality sales and marketing team in place, we expect keen interest in both our jet and turboprop products.”
Before founding Nextant Pacific, Mr. Oppenheim managed aircraft sales for Hawker Pacific and has personally overseen the sale of 128 aircraft in the region over the past decade. He is also an Executive Committee Member of the ABAA and one of the most respected aerospace executives in the APAC region.
Nextant aircraft are delivered direct from the factory with a complete aircraft warranty and access to a global network of owned and operated service centers. After-sales support in the region is currently anchored by Jet Aviation Singapore service center and Nextant Pacific will lead the development of additional capabilities when and where required.
Nextant Pacific intends to add further to its value proposition with a special focus on flexible financing opportunities for customers. With financing sometimes hard to find in this segment of the market, this is an area of special expertise for the company and a key point of differentiation from its competitors. Some of the products offered in addition to standard aircraft finance include lease finance, operating lease finance (where the residual risk of the aircraft is passed to the financier), and innovative and flexible loan structures.
Mr. Oppenheim believes that flexibility is the key to successful aircraft finance: “Nextant Pacific wants to offer a range of options to its aircraft purchasers, so we will aim to provide financial services where the currency of the loan or lease repayments can be made to suit cash flow, payments can be fixed or variable, and aircraft ownership can be held in off-shore jurisdictions.”
After extensive internal analysis of their future aircraft platforms, Nextant specifically tasked ARGUS with reviewing the viability of the entry level marketplace.
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