LAS VEGAS, 23 Oct. 2013.Nextant Aerospace, maker of the Nextant 400XTi remanufactured business jet, won a contract from Travel Management Company Ltd. (TMC) for the conversion of its entire Hawker 400XP fleet.
The deal, from the on-demand business jet service for light and midsize jet charter is for 400XTi conversions on up to 50 aircraft. The contract is valued at $202.5 million, officials say.
“In a highly competitive charter market we’ve learned that the key to success is having a well-rounded operating platform that performs in all major categories – value, performance and passenger comfort,” President Scott Wise explains. “We’ve done our research and it’s clear that re-equipping with the 400XTi will keep us ahead of the competition for years to come. The 400XTi offers a 50 percent increase in range relative to our previous aircraft and a 30 percent reduction in operating cost. This combination significantly increases our mission capability and allows us to meet the needs of a larger customer base.”
Nextant now has firm commitments in place to convert more than 100 aircraft, which represents approximately 20 percent of the in-service 400A/XP fleet.
“The TMC deal is more than just another endorsement of the Nextant 400XTi,” says Nextant President Sean McGeough. “It’s an acknowledgment by TMC, one of the largest commercial business jet operators in the country, that the 400XTi meets the demands of their operations while simultaneously helping them to expand their future business. The transition to the new 400XTi fleet also offers an enhanced residual value relative to their current fleet. With more than 20 percent of Beechjet 400A/Hawker 400XP fleet committed to Nextant remanufacturing, the market is approaching a tipping point where remanufacturing is now the accepted long-term solution for competitive performance and value.”