- News
- Jan 15, 2024
- 3 min read
VIP Completions Reports Successful Start to the New Year
VIP Completions plans to convert a Gulfstream G550 from a business jet into an air ambulance aircraft this year.
Fort Lauderdale, Florida-based VIP Completions has provided an update on its activities, as well as its outlook for 2024, including the refurbishment of a Boeing BBJ. Now, with its hangars completely full, the company also plans to convert a Gulfstream G550 from a business jet into an air ambulance aircraft and carry out a complete interior refurbishment of a Dassault Falcon 7X.
“These are all major projects,” said VIP Completions President Ben Shirazi. “Working on corporate airliners and long-range business jets gives our team an opportunity to transform and revitalize aircraft. A comprehensive refurbishment significantly improves the flight experience while increasing the value of our clients’ assets.”
Although the industry consensus appears to indicate a growth rate of 2% this year, resulting in the delivery of 775 new business aircraft, the return to pre-pandemic normality and the largely restored supply chain appear to point to a period of stability.
“As for pre-owned business aircraft, we expect a slight decline in prices this year,” Shirazi said. “However, this could benefit refurbishment and conversion work, as buyers will be more cost-conscious. In turn, owners may decide that upgrading an existing aircraft is more attractive than putting it on the market. For these reasons, we believe refurbishment and conversion volumes will remain fairly strong… we are optimistic.”
Fort Lauderdale, Florida-based VIP Completions has provided an update on its activities, as well as its outlook for 2024, including the refurbishment of a Boeing BBJ. Now, with its hangars completely full, the company also plans to convert a Gulfstream G550 from a business jet into an air ambulance aircraft and carry out a complete interior refurbishment of a Dassault Falcon 7X.
“These are all major projects,” said VIP Completions President Ben Shirazi. “Working on corporate airliners and long-range business jets gives our team an opportunity to transform and revitalize aircraft. A comprehensive refurbishment significantly improves the flight experience while increasing the value of our clients’ assets.”
Although the industry consensus appears to indicate a growth rate of 2% this year, resulting in the delivery of 775 new business aircraft, the return to pre-pandemic normality and the largely restored supply chain appear to point to a period of stability.
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“As for pre-owned business aircraft, we expect a slight decline in prices this year,” Shirazi said. “However, this could benefit refurbishment and conversion work, as buyers will be more cost-conscious. In turn, owners may decide that upgrading an existing aircraft is more attractive than putting it on the market. For these reasons, we believe refurbishment and conversion volumes will remain fairly strong… we are optimistic.”
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