Elliott Jets completes sale of first Garmin G5000 equipped Citation 560XL:
21 January 2020: Elliott Jets has sold the first available Citation 560XL, equipped with the recently certified Garmin G5000 integrated avionics suite. The Garmin G5000 was estimated to retain 85 per cent of the value of its retail price, in this transaction.
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. Also, the aircraft was sold in less than half the time of industry average.
The Garmin G5000 system on this airplane, installed by Elliott Aviation, includes a new autopilot, ADS-B, WAAS/LPV, electronic charts, engine monitor data, SafeTaxi, XM weather, and emergency descent mode. It has a lot of options which include 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 permit operators to use a $50,000 credit toward the equipped aircraft's G5000 system. The Garmin G5000 system has three-year warranty. It avoids the costly yearly maintenance of HAPP, which can be more than $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," said 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 maximizing the value of an aircraft transaction for our customers for over 80 years," said 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."
"In addition to the many functional benefits, operators are encouraged by the value retained on the investment of the G5000 in conjunction with the sale of this aircraft," said Conrad Theisen, Director of Avionics Sales at Elliott Aviation. "Also, replacing the avionics that is nearing obsolescence greatly increases the useful life of the aircraft."
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