The global response to Russia’s invasion of Ukraine has been swift — and economically devastating. Sanctions are hitting every major Russian industry, and the implications of its severance from the rest of the world continue to mount. Aviation is a particular focal point. Eastern Europe is now a dead zone for private jet travel, and Russia’s domestic aviation industry is showing signs of duress.
Sanctions have crippled Russian private aviation
Sanctions are already affecting Russia’s aviation sector, as aircraft remain grounded following the restriction of airspace by the U.K. and the European Union. Private aviation has suffered mightily. With more than a 25% decrease in the number of private jets flying out of Russia, and Russian business jet activity only accounting for about 7% of total annual flights in Europe, the country’s restricted land mass is more of a hindrance for other air traffic between Europe and Asia.
Flight disruption isn’t the only effect of EU and U.K. sanctions. Russia looms large in terms of private jet ownership, and its private jets are some of the world’s largest business aircraft — about 25% of them are converted commercial airliners. Russian oligarchs own many of these aircraft, which are grounded outside of Russia. Some analysts believe these jets could become forfeited assets or be sold for liquidity purposes as the country’s economy suffers.
Airframers join the fight against Russia
Sanctions aren’t limited to the private jet market. Russia’s commercial airlines are also in distress as Western airframers refuse to provide parts, components, and other support for the country’s domestic fleets. It’s a crippling prospect for commercial airliners confronting the growing possibility of indefinitely grounded fleets due to an inability to keep them airworthy.
Commercial airframers, including Boeing and Airbus, have already ceased export of parts to Russia. Meanwhile, private jet maintenance firms, such as Germany’s Lufthansa Technik are setting up task forces to vet exports to avoid violating sanctions against Russia. They’re taking great pains to ensure parts shipped to maintenance centers won’t end up on Russian private aircraft.
Russia’s nationalization response
In retaliation against sanctions, Russia is mobilizing to nationalize foreign assets remaining in the country, including many private jets. Owners with their jets parked at a Russian airport may soon find it’s been seized as a Russian national asset.
In March, Russian President Vladimir Putin signed a law allowing Russian airlines to register planes leased from foreign companies in Russia. This makes it easier for Russian airlines to maintain domestic routes, while making it harder for foreign companies to reclaim their jets without approval from the Russian government.
Russia’s aviation industry could come crashing down
Even with this hostile takeover of foreign assets, keeping planes won’t keep Russia’s airline industry afloat. If things continue as they are, experts claim the country won’t have any form of viable airline industry within one year, and while smaller countries (e.g., North Korea and Iran) may find this tolerable, it’s an economically devastating prospect for Russia — one bound to cause ripple effects in commercial and private aviation around the globe.
Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.
NetJets, the largest private fleet operator in the world, is taking steps to expand its fleet. Instead of more jets, the company has announced its intent to purchase up to 150 craft from Lilium, a Munich-based manufacturer of electric vertical takeoff and landing (eVTOL) jets. It’s a forward-looking move certain to cause ripples across private aviation, in terms of both market share and sustainability.
An agreement with sustainable undertones
The agreement between NetJets and Lilium represents a major shift toward private aviation’s sustainable future. Not only has NetJets committed to expanding its fleet with eVTOL units, it’s doing so at a large scale, with a commitment to purchase 150 craft. NetJets’ letter of intent outlines its commitment to a sustainable future for aviation.
For NetJets, the move is about much more than simply expanding its short-range fleet — it’s about ensuring a more sustainable fleet for the future. eVTOL jets are 100% electric, producing less carbon effect than a gas-fueled car.
This new technology also makes helipad infrastructure more available, giving NetJets’ customers more options for takeoff and landing locations. Whether they want to take a quick day trip, visit relatives a few cities over, or travel for a nearby getaway, they’ll be able to do so with minimal environmental impact.
Larger implications loom for BizAv
How does this partnership change the landscape for the BizAv sector? For one thing, NetJets could soon have a fleet that covers virtually any distance efficiently. This strategic focus helps solidify NetJets as a premier provider of chartered flights — whether from city to city within a region or intracity, from one location to another.
In the not-too-distant future, business executives could be hopping into an eVTOL rather than a company car or an Uber. As helipad infrastructure opens up, these electric regional aircraft will present endless options in terms of where NetJets owners can travel for private flights. It will change the landscape of business commuting into one that offers travelers more convenience and aligns with sustainable aviation initiatives.
Source: netjets.com
The timeline for eVTOL deployment
Lilium’s jets are expected to earn certification in 2024, with commercial agreements for the aircraft set to be signed by summer 2022. Pending FAA approval, NetJets expects to deploy Lilium jets in select locations to allow fractional owners to travel to and from their craft or on short trips to nearby destinations. Lilium has already started a transportation hub in Florida, which will link the state with eVTOL aircraft following certification.
The private aviation landscape is constantly changing, and the partnership between NetJets and Lilium is just one example of what we can expect from sustainable aviation. As private aviation shifts to shorter, more sustainable flights via eVTOLs, it’s also likely to open private air travel to even more of the population. NetJets is putting the pieces in place to get ahead of the eVTOL boom, so it can remain one of the world’s premier charter companies.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.
There’s a growing market for private jets in 2022. But how much does it cost to own and operate a jet of one’s own? Beyond the purchase price, it’s essential to consider all the factors that accompany ownership, including maintenance, operation, hangar space, fuel, and several other expenses. What can you expect to spend if you move forward with a private jet purchase in 2022?
The figure might be higher than you realize. Jet prices are rising at an unprecedented rate, as are the expenses associated with operating one. Fuel, avionics upgrades, and crew costs are all on the rise as well.
Upfront costs
The first and most significant obstacle to jet ownership today is finding one. Used jet inventory is at an all-time low, and backlogs and wait times for newly produced jets are growing longer as well. Prices are skyrocketing throughout private aviation markets.
The price you can expect to pay for a used jet depends on several factors, including make, model, air miles, year, and condition. It’s best to shop around and compare jets of the same class to gain a better understanding of market prices. You might expect to pay in the range of $14 million to $35 million for a pre-owned Gulfstream G450, a super-midsize jet.
The cost of the jet isn’t the only upfront expense. You’ll also need to have it registered and insured, the costs of which vary depending on the jet. Using the super-midsize example again, you might expect to pay upwards of $45,000 in comprehensive insurance, including hull and liability. And, of course, if the jet you purchase is not compliant with current airworthiness regulations, you’ll also need to foot the bill for upgrades.
Ongoing costs
Most experts agree the minimum break-even point for private jet ownership is 200 to 400 hours of logged flight time each year. If you’re planning on spending that much time in the air, you’ll also need to consider several ongoing costs:
Pilot and crew. Unless you’re flying your own turboprop, you’ll need to pay a pilot and staff for every journey your plane takes. Keep in mind the average annual salary for a private pilot is well over $100,000.
Hangar and tie-down costs. When you’re not flying, your plane needs a parking space. Hangar fees range from $81,000 to $160,000 annually, depending on the airport.
Maintenance. Regular maintenance is imperative and comes with its own set of costs, depending on the jet. You might expect to pay $4 million a year to maintain a Gulfstream G450.
Upgrades are another cost to consider. Mandated upgrades can’t be argued with, while others might evolve from want to need over the course of your ownership. Upgrades can easily tally into the hundreds of thousands, depending on the age and condition of your jet.
The grand total
How much can you expect to pay for a private jet in 2022? If you can find one you want among limited available inventory, expect to pay a premium in the current market. All told, and using the Gulfstream G450 as a benchmark, expect to pay between $14 million to $35 million to acquire a jet and another $4 million to $5 million to own, house, and maintain it.
Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at Sales@L-Lint.com, call us anytime at (305) 754-3313, or visit us online.
The Concorde was the original supersonic jet, making its trans-Atlantic debut in 1973 and enjoying a 30-year run until its retirement in 2003. Without a de facto heir in place, commercial supersonic air travel followed the Concorde into history — until now.
NASA and Lockheed Martin have joined forces in a new venture to create the X-59, a boomless supersonic jet nicknamed “Son of Concorde.” The jet resembles the Concorde, and includes many features that made the original a household name, but early reports suggest the Son of Concorde will far outstrip its supersonic predecessor in both form and function.
Supersonic contenders
While widely considered the heir apparent of the original supersonic jet, Son of Concorde is far from the only aircraft gunning for jet stream dominance.
Industry front-runner Boom Supersonic recently broke ground on a facility in North Carolina, where it plans to begin producing its supersonic Overture jet. Other producers, including Exosonic and Spike Aerospace remain tight-lipped about their innovations, but their scale testing results keep them in the running. Startups in Russia, Japan, and China are also joining the race to launch the first jet in the new era of supersonic travel.
In fact, the industry is expanding so rapidly, some manufacturers are skipping supersonic tech altogether and diving straight into niche technologies, such as hypersonic or atmospheric travel.
A closer look at the X-59
In a time of booming supersonic travel innovation, Son of Concorde is unique in its focus on the supersonic technology rather than the airframe. Where Boom Supersonic and others are developing supersonic airframes, Son of Concorde is currently a one-seater, and Lockheed and NASA are immersed in perfecting “quiet” supersonic technology.
Flight testing as the X-59, Son of Concorde boasts some pretty promising specs. According to NASA reports, it is expected to maintain a top speed of 990 mph, with a cruising speed of 937 mph at 55,000 feet. As for “quiet” supersonic tech, NASA believes it can reduce the notorious “boom” to a mere 60 decibels at ground level, matching the “thunk” of a car door closing. All this and NYC to LON — 3,459 miles — in under four hours.
NATHAN LEACH-PROFFER
Son of Concorde versus “Baby Boom”
Son of Concorde is already producing promising wind tunnel tests, picking up where its predecessor left off, but it’s lagging behind some other industry players. Boom Supersonic, for instance, has signed purchase agreements with United Airlines based on the performance of its own scale jet, the “Baby Boom.”
The specialty sector continues to expand, which might mean room enough for several supersonic success stories. With a $247.5 million commitment behind it, NASA’s venture with Lockheed Martin could easily be a premier player in the supersonic big leagues.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at Sales@L-Lint.com, or at (305) 754-3313.
Tensions between Russia and Ukraine have dominated headlines since February. In March, events escalated to open warfare. Ukrainian airspace, and much of the surrounding region, has become a no-fly zone for commercial and chartered flights. The conflict is disrupting air travel across Eastern Europe, with no end in sight.
The flight map around Ukraine shows virtually nothing as aircraft give the country a wide berth. This is in sharp contrast to February, when flights out of the country rose sharply. On February 13, 20 private jets left Ukraine to head west with no immediate plans to return. Since then, there have been no flights in — or out.
Combat airspace extends beyond the conflict zone
There aren’t likely to be any commercial or private flights over Ukrainian airspace, but it isn’t technically a no-fly zone. In fact, Ukrainian President Volodymyr Zelenskyy has repeatedly asked NATO to declare the airspace officially closed, which would establish strict prohibitions on military aircraft, including Russian helicopters and planes. NATO representatives fear the escalation a formal no-fly declaration, and subsequent breach, could bring.
Formal declaration or no, the airspace above Ukraine, Russia, and Belarus remains unsafe for commercial and private aircraft, forming a bloc that effectively cuts off all flight around a major intersection for European air travel.
Empty skies in Eastern Europe
The danger of a surface-to-air or air-to-air attack on civilian aircraft is more than enough to deter flights over Eastern Europe, and private aviation is taking particular care to evade the danger.
Eastern Europe lies along several key flight paths between common city pairs. Flights to or from Moscow are virtually off the table, and most EU-based flights to Hong Kong are now required to detour via the United Arab Emirates instead of charting a more direct course over Ukraine. Flights to Europe out of Mainland China, Japan, or South Korea — and vice versa — are now longer by an hour or more.
As commercial airlines plot similar flight paths around Eastern Europe’s “dead zone,” the skies have grown crowded. Private jetsetters looking for a speedy trip around the bloc could find themselves waiting longer for a route to become available.
Long-term flight implications
There’s no time limit on the conflict between Russia and Ukraine, which means there’s no predicting when Eastern European skies will reopen for air travel. Even when open conflict ends, it could still be some time before pilots are comfortable flying through formerly hostile airspace.
Private fliers can expect delays and restrictions for eastbound flights out of Europe and westbound flights into the EU. The Russia-Ukraine conflict has effectively closed the door on efficient air travel between Europe and Asia for the time being.
Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at Sales@L-Lint.com, call us anytime at (305) 754-3313, or visit us online.
If you’re paying attention to the automotive market, you’ve noticed used-car prices are higher than ever. Some used cars are going for prices comparable to new models. It’s an unprecedented phenomenon, and it’s not exclusive to used cars. A similar trend in the private aviation market has prices for used jets spiking as well, and experts are wondering if they’ll ever settle — let alone come down to previous levels.
Why are prices so high? What’s driving this trend? And what can prospective jet owners expect as new conditions begin to affect the market?
How inflated are prices in 2022?
As with used cars, used jet prices are comparable to new models and, in some cases, even higher. According to Aviation International News, the average price of a used jet is up 13% over the average fleet valuation, though there’s plenty of variance across different models and brands. On the low end, reports have the price of used Bombardier and Cessna jets hovering about 6% to 7% higher, while Gulfstream and Embraer jets are up as much as 27% to 28%.
But the most striking example of price inflation in the used jet market is the Gulfstream G450. Just four years removed from a successful 30-year production run, these beloved jets are changing hands at premiums up as high as 41%.
Why are prices so high?
The reason for such outrageous used jet prices lies in a lack of inventory alongside an unprecedented uptick in demand — both products of the pandemic. In the fourth quarter of 2021, used jet inventory bottomed out at 1.3% after steadily declining throughout the year. For context, used inventory stood at 8% in the first quarter of 2021, and at the time, analyst predictions suggested impending market stabilization.
On the demand side, prospective buyers are jumping on virtually all segments. In particular, the market for midsize and super-midsize jets is fierce, with just 3.3% inventory available. Fleet availability for large-cabin jets is also down, dropping from 9% to 5% throughout 2021. Even outliers, such as small turboprops and large, ultra-long-range jets, are selling more as buyers find themselves forced up or down into another jet class in their search for private aircraft.
Here’s the bottom line: More people are buying, fewer owners are selling, and competition to own desirable models is higher than ever.
Is there any price relief in sight for the used private jet market? Don’t get your hopes up. As the price of materials rises, and currency inflation continues, the cost of new jets is likely to balloon. In fact, used jet prices may never settle back to pre-pandemic levels, which means today’s premium could be tomorrow’s discount.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at Sales@L-Lint.com, or at (305) 754-3313.
On the heels of explosive growth in 2020 and 2021, the private aviation sector is already reaching new heights in 2022. But to understand exactly how big the industry is, and what its growth potential looks like in the years to come, it’s essential to view it in context. What facts and figures do private flyers, jet buyers, and aviation afficionados need to focus on as the industry reaches new heights in 2022?
Here’s a look at nine high-flying facts to consider as we look at the potential of private aviation:
There are roughly 22,000 active private jets in service. And this figure is growing faster than ever. Low used jet inventory was one of the major industry headlines in 2020 and 2021, and airframers have rushed to answer the call. Expect jets to enter service at an unprecedented rate in the years to come.
North America has the largest private jet fleet in the world. The North American fleet represents roughly 15,500+ jets, accounting for about 70% of the world’s total in-service jets. Here again, demand is sure to grow even higher as more Americans turn to private and semi-private air travel post-pandemic.
The global private jet market was valued at $24.21 billion in 2020. Even during the harshest economic year of the pandemic, the global market for private jets was thriving. While down from its 2019 valuation, figures are already rebounding. In 2021, the market was back up to $23.6 billion — and rising.
The market is expected to reach $36.94 billion by 2028, a 5.22% compound annual growth rate. Speaking of market growth, analysts expect private aviation to grow at a healthy rate of 5.22% for the next six years to reach a value of $36.94 billion. This growth will come on the heels of increased deliveries and additional interest from regional charters.
Florida, Texas, and California are the busiest states for charters. It’s no surprise the busiest states for domestic charters are home to some of the country’s largest urban epicenters. Also in the top 10 states, and for the same reason, are New York, New Jersey, Illinois, and Arizona.
There were 2.15 million private charters in 2020. 2020 marked a spike in private charters as droves of people turned to private air travel during pandemic uncertainty. Many first-time private fliers have continued to seek the comfort of charters, and some have become private jet owners themselves.
Seven of the top 12 business jet manufacturers are based in the United States. It’s no surprise that the United States leads the way in every major private jet growth metric. After all, this is where the world’s largest airframers reside. Boeing, Textron, Gulfstream, Cessna, and others all reside on U.S. soil, with strong production to anchor them.
Gulfstream’s G500 & G600 series were the bestselling jets in 2020. On the subject of strong deliveries, Gulfstream takes the cake as the most popular deliverer in recent years. Specifically, its G500 & G600 series accounted for 105 units in 2020. Coming in second was the Cirrus Vision jet, followed by Bombardier’s Global series.
Data predicts private aircraft sales will top $235 billion by 2030. If nothing else, these facts illustrate one thing: Private aviation is on an upward trajectory. Sales will top $235 billion within the decade. For private aviation, the sky is the limit, and there’s certainly enough momentum to propel this industry up, up, and away.
Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at Sales@L-Lint.com, call us anytime at (305) 754-3313, or visit us online.
To say the transition to 5G telecom networks has been messy is an understatement, especially when it comes to the coexistence of 5G and aviation. Potential interference of 5G with airplane altimeters — a critical system in aircraft takeoff and approach — could create dangerous challenges for pilots, but there’s no real plan for enabling 5G while simultaneously protecting planes.
For the time being, the only solution is a stopgap: Major carriers won’t roll out 5G networks in proximity to airports, and the FAA and FCC will work together to protect planes from C-band interference.
The 5G conundrum
Interference isn’t a new problem for 5G. Even before the earliest networks began to take shape, the FAA warned heavy activity on the C-band of the wireless spectrum could interfere with critical avionics — namely, altimeters. According to an FAA report issued in 2020, noise from commercial 5G networks could cause a significant range of problems for altimeter function.
Altimeter receivers operate in the 4.2GHz to 4.4GHz range on the radio frequency spectrum. This is almost directly adjacent to the range of 5G mobile networks: 3.7GHz to 3.98GHz, which creates the potential for crossover interference in urban areas where bandwidth is quickly saturated.
The crux of the problem is a disagreement over responsibility. Telecoms and the FCC continue to push for rollout, citing what they call an overreaction on the part of the FAA. Meanwhile, the FAA believes the burden of mitigating potential interference falls to telecoms. The two sides remain deadlocked, which continues to push near-airport 5G rollouts further and further back.
What’s the solution?
It’s not as if there’s no solution to safeguarding altimeters and continuing the expansion of 5G coverage. In fact, there’s already precedent for mitigating potential C-band noise. France has created a 5G buffer zone around the approach points at major airports. England has also worked to filter noise from C-band congestion around airports. Major telecoms contend this is the path forward for U.S. airports where interference is a concern.
“We are frustrated by the FAA’s inability to do what nearly 40 countries have done, which is to safely deploy 5G technology without disrupting aviation services,” said an AT&T spokesman. This, after executives from Airbus and Boeing sent letters to Secretary of Transportation Pete Buttigieg voicing concerns about the aggressive rollout of 5G networks.
While there are several solutions for safeguarding airports, clearing the first hurdle means delegating responsibility. Whose job is it to create a C-band safety buffer? Until it’s someone’s job, it’s everyone’s problem.
Private aviation has more at stake
While much of the concern about 5G interference centers on commercial aviation, private aviation faces an additional set of problems. Private jets face the same risk of altimeter interference, and it’s up to every individual jet owner to comply with the FAA’s airworthiness directive to get altimeter approval. The potential for chaos is akin to the prospect of herding cats.
More than half of regional fleets, and a substantially larger segment of private aviation, either aren’t cleared to operate in 5G areas or have limited clearance. Until private jet owners and regional fleets upgrade, they risk running into the interference outlined by the FAA. And while complying with the 5G-related airworthiness directive is simple enough, it’s still up to every jet owner to take action.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at Sales@L-Lint.com, or at (305) 754-3313.
When boarding a commercial flight, the last thing you expect to encounter is a four-legged fellow passenger. During the COVID-19 pandemic, many airlines prohibited pet travel unless animals were stowed in steerage. But that hasn’t stopped many travelers from flying with their furry friends. In fact, it’s pushed more people onto chartered flights. This is especially true in Hong Kong, given the dire situation pets face as part of the country’s COVID-19 quarantine laws.
What’s going on in Hong Kong?
Every country has its own approach to COVID-19 health and safety, and some policies are more stringent than others. Hong Kong has taken an especially proactive stance to combat the pandemic — with some of the world’s strictest policies.
Their inflexible approach to public health has serious implications for pets. Pets are not permitted to accompany their owners to quarantine locations, and city officials have taken swift action in response to cases of COVID-19 in animals. In early 2022, the city euthanized thousands of small animals after several tested positive at a pet store. Residents now fear for the safety of their beloved pets.
A private jet for your pet
As pet owners move to evacuate their pets from Hong Kong — or even travel for leisure with a pet in tow — commercial flights are not a viable option. Most commercial flights have banned pets or imposed strict rules that make it difficult to transport cats and dogs. These obstacles have pushed many toward private flights, and charter companies are embracing the opportunity.
According to one aviation firm, its chartered flights involving pet passengers are up more than 700% since the onset of the pandemic. Another firm, in dealing with Hong Kong departures, claims it is booking pet-inclusive charters up to 12 months out. Recognizing demand, many charter companies are advertising specifically to pet owners and building in value-added services to make the price of a private charter worth the cost.
The perks of chartering pet travel
As charter companies cater to a growing customer base of pet owners, they’re going out of their way to make the experience as seamless and convenient as possible. This includes helping owners confirm their pets have microchips, the correct travel paperwork, and all required vaccinations.
While charter companies assist with preflight accommodations, they’re also picking up new routes to cater to travelers and their pets. Many have expanded service to include dedicated “pet flights,” particularly from Hong Kong. According to Robb Report, one charter even arranged a direct flight from Miami to New York for a single dog aboard its own 16-person Gulfstream IVSP. Pet charters have become a booming business for private aviation.
Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at Sales@L-Lint.com, call us anytime at (305) 754-3313, or visit us online.
We’re just a couple of months into 2022, but Boom Supersonic has already generated a year’s worth of headlines. The company rose to prominence in 2021 when Boeing-backed Aerion fell off the supersonic map. Now, industry attention is focused on Boom. From introducing new tech to closing new deals and establishing itself as the de facto leader in the emerging supersonic market, Boom is already having a big year.
2021 paved the way for Boom’s bigger role
Last year, Boom was thrust into the spotlight by the abrupt departure of Aerion, which had been the supersonic market leader. In May 2021, Aerion announced that it would cease operations effective immediately, citing economic concerns — despite an $11.2 billion sales backlog. Speculation has questioned the efficacy of Aerion’s engine design, which cost more than $1 billion to develop with no real prototype ever created.
Seizing the opportunity to become the market steward, Boom moved quickly to secure new partnerships and kick-start a media push in late 2021. Now, Boom is looking more and more like the company to herald a new age of supersonic travel.
Big things for Boom in 2022
In just a few short months, Boom has celebrated several milestones that are restoring confidence in the supersonic market and driving an ambitious timeline for the launch of its supersonic jet. To recap Boom’s progress so far:
United Airlines partnership. Boom Supersonic and United Airlines engaged in a formal agreement for the creation of a commercial supersonic fleet. United has agreed to purchase 15 jets, with an option for an additional 35, set to begin carrying passengers in 2029.
North Carolina facility. Boom recently announced it would begin construction on a new production facility in North Carolina. The new facility will cover 65 acres along Interstate 73 near the Piedmont Triad International Airport in Greensboro, NC. The company expects to break ground later this year.
U.S. Air Force development grant. Most recently, Boom received a three-year, $60 million grant from the U.S. Air Force to aid in development of the commercial Overture jet. One of the grant’s stipulations is the development of a military version to be deployed for intelligence, special operations, and surveillance.
These are just three of the feathers in Boom’s cap so far this year. The company is also in talks with commercial airlines in other countries to secure future agreements, and it continues to iterate on its revolutionary design. Perhaps most exciting is the news of the inaugural test flight of the XB-1 prototype jet, aka “Baby Boom,” set for later this year.
Boom is here to stay
Boom’s 2022 progress brings the reality of a supersonic future into clear view. Aerion’s fall from grace in 2021 jolted the industry and caused many to question the feasibility of boomless supersonic jets. With Boom stepping in to restore confidence, we’re on track for faster flying led by a company with a clear vision for takeoff.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at Sales@L-Lint.com, or at (305) 754-3313.
