US-based Elliott Jets 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 per cent 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. The jet also sold in less than half the time of the industry average.
The Garmin G5000 system, installed by Elliott, replaces the existing Honeywell Primus 1000 avionics. The 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,” says 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 maximising the value of an aircraft transaction for our customers for over 80 years,” adds 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.”
Elliott Aviation has sold over 50 Garmin G5000 systems in the Beechjet 400XP, Hawker 400XP, Citation Excel and Citation XLS. It currently has five systems in-work.