Why Triple R?
Why Triple R? Because General Aviation needs more capable affordable airplanes at all levels
Most pilots/aircraft owners would love to operate new airplanes with the latest equipment - but they realize their flying budget just won't match up with a new airplane.
In 2013, the GA industry delivered 933 piston twins and singles - worldwide - and just over 700 of those in the U.S. (Subtract from that later exports overseas by these U. S. customers.) With numbers like these, fewer than one in 1,000 U.S. -based pilots will likely buy a new piston airplane this year.
While there is a market for new piston airplanes, very few piston operators currently can afford a new airplane for personal or business flying. The average cost of a new 170-knot piston four-to-six seat airplane is now over $600,000.
Yet, similar models in past decades can be rebuilt and retrofitted with new engines/avionics for a fraction of this cost--and will perform identical missions.
The time to rebuild the GA fleet is now. The alternative: do nothing and watch our fleet decay!
We have asked the best brains in the business, the best OEM suppliers, the best banks, appraisers, insurers and rebuilders to help us write the book on rebuilding and selling GA airplanes with financing, to a marketplace clamoring for such aircraft.
The reasons to move forward are many. But the most compelling? Our survey results!
The Triple R Survey
When we first came up with Triple R, everything made sense to us. But we wanted to find out what US pilots think. With the help of AVweb we surveyed 6,000+ active pilots. The positive results more than confirmed our direction. Full survey results are available upon request but here are the high points:
Our survey participants were presented with a short introductory paragraph about Triple R and asked to rate the idea on a scale from 1 to 10.
Survey participants were asked to rate the likelihood of purchasing a Triple R aircraft on a scale from 1 to 10. 65% chose 7 or above.
Despite the anonymous survey, 1600 pilots expressed an active interest in Triple R aircraft by supplying us with their contact details to receive more information about Triple R.
How do you benefit from Triple R?
Every year, hundreds of piston and turbine airplanes are completely rebuilt - typically by their current owners out-of-pocket -- and are usually not available for re-sale. These owners extend the useful life of their airplanes by thousands of hours at a fraction of the cost of buying new.
That's because the mission capabilities, performance-economics and value of such "reborn" airplanes is completely comparable to new airplanes.
However, most rebuilt airplanes are not financed based on their performance economics, that is, their ability to perform transportation, training or other missions. The problem for banks and appraisers is this: The value of a used, rebuilt airframe -- with all new equipment -- has not been clearly established before. The traditional rule books reflect "the good old days," not today's marketplace.
The Triple R Affordable Aircraft Initiative changes this,
for our customers this means:
Airplanes fully modernized from nose-to-tail and wingtip-to-wingtip, including engines, avionics, wiring, props, interiors, paint, batteries, tires, brakes, accessories and glass.
Airplanes meeting set quality standards, minimum equipment lists, new content standards and other quantifiable specifications
Airplanes fully supported by supplier warranties and rebuilder warranties.
Appraisers, insurers, banks and other lenders assured of the value and marketability of these remanufactured airplanes, both when first purchased and later on the the re-sale market.
We understand that remanufactured airplanes are difficult to appraise when equipped with many different options from each specialized rebuilder. Thus, our standardization is the key to repeatability and good value appraisals
We also understand that it's critical to have a steady source of OEM and PMA parts for both airframes and systems. We enjoy the continued support of our airframe OEM and supply chain partners. Why? It's our goal to be a complementary player in efforts to maintain and grow a healthy, on-going General Aviation industry.
Further, it is our goal to be a complementary source of proven, conservative legacy airframes.