Freestream Aircraft sells first pre-owned G650 for $72 million
Freestream Aircraft sells the first pre-owned G650 business jet for $6.5 million more than the aircraft’s list price.
UPDATE: Although the 2013 list price for a G650 is $64.5 million, the list price in 2008 was $59 million, making the seller more than $10 million on the transaction.
Freestream Aircraft, a global business jet broker, has successfully sold the first pre-owned G650 for $72 million.
The aircraft – with a manufacturer serial number of 6023 – belonged to Fabiana Flosi, the wife of Bernie Ecclestone, who is the president and CEO of Formula One racing. She took delivery of it in July this year, but the aircraft sold in September.
Bizjet Blogger reported that the aircraft was bought by Vichai Srivaddhanaprabha, a Thai businessman and the owner of the UK’s Leicester City Football Club.
Srivaddhanaprabha was advised by US aircraft broker Global Jet Sales through its joint venture with Thai charter company, OrientSKY. UK law firm Clark Ricketts advised the seller, with the buyer advised by UK firms Mishcon de Reya and Stephenson Harwood.
The selling price of $72 million is more than the buyer paid for the aircraft – the 2013 list price of a G650 is $65.5 million – but it is equivalent to what a new G650 delivering in 2017 would cost with escalation. The G650 has a backlog of more than four years.
Since the G650 went on sale in 2008, Gulfstream has been keen to discourage speculators from buying its aircraft. The manufacturer it says it has the right to withdraw warranties if speculators try and sell positions before aircraft are delivered.
Flosi and Ecclestone are believed to have sold the aircraft because it cannot operate into Saanen Airport near Gsaatd in Switzerland.
About three other pre-owned G650s are believed to be listed for sale. Brokers say that aircraft with forward galleys are more popular with buyers, with aft aircraft expected to trade for below $70 million.
The G650 is Gulfstream’s flagship aircraft and has created a new category of ultra-long range business jets. It is capable of comfortably carrying up to 18 passengers and can fly eight passengers and a crew of four on nonstop legs of 7,000 nautical miles (12,964 km). This means that it is possible to fly between Dubai and New York or London and Buenos Aires.