First flight of Gulfstream's most recent product, the GV-SP, is scheduled for the fourth quarter of 2001, followed by FAA certification and JAA approval a year later. First customer delivery is planned for 2003.

"It is time to take the GV to the next level," said Gulfstream president and coo Bill Boisture. "As with the GIV-SP enhancement to the original GIV, Gulfstream has a legacy of introducing technology onto its aircraft to ensure market leadership."

In addition to enhancements of range (6,750nm) and speed (5,000nm at .87 Mach), the GV-SP sports a redesigned cabin which provides a 25 per cent increase in baggage area volume.

Said senior vp of worldwide sales Joe Walker: "The enlarged cabin area provides a fourth living area in the cabin of the GV-SP, making it the largest passenger cabin in this class.

"Rather than a 12-passenger interior in a typical GV configuration, customers may choose to seat 16 comfortably in the GV-SP and berth up to eight. This is a tremendous advantage for the GV-SP over the competition and we can offer the aircraft at the same price point."

Gulfstream's senior vp of programmes Pres Henne added: "This aircraft's performance advantage guarantees nonstop flights between New York and Tokyo, fully-equipped with eight passengers, even with 100 per cent headwinds.

"In addition to the significant increase in range, the GV-SP will deliver field performance improvements that provide greater airport access by reducing take-off distances. The aircraft is also designed for improved despatch reliability."

Meanwhile, Gulfstream GATX Leasing Company (GGLC) will deliver the second Gulfstream V ordered for the Gulfstream Lease programme to a major international energy company. GGLC delivered its first GV to Johnson Controls, in June 2000. The aircraft is the first of five GVs purchased by GGLC. The second GGLC GV is scheduled to deliver to the new customer in December.