- Dealership agreement signed at Paris Air Show Le Bourget
- FortAero agreed to purchase two Nextant 400XTi business jets
- With Russia’s business jet fleet growing it is a key European market for Nextant
CLEVELAND, OHIO, June 26, 2013 – Nextant Aerospace (“Nextant”), maker of the Nextant 400XTi, the world’s only remanufactured business jet, has announced the appointment of FortAero Baltic Business Aviation Alliance (“FortAero”) as the exclusive sales agent for Russia and CIS. The company has placed an initial order for two 400XTi’s valued at $11.4 million. FortAero has more than 16 years of experience with the Russian and CIS business aviation market and will play a key role in defining Nextant’s sales, marketing and customer service strategy in the region.
Established in 1997, FortAero sells, operates and manages aircraft throughout Russia and CIS territories. The company has offices in Tallinn and Moscow and provides services to entrepreneurs and governments globally. The regional dealership will do business as Nextant CIS with the initial two aircraft sold to unnamed customers for executive transport. The aircraft come with full factory warranties, a worldwide network of owned and authorized service centers and a global parts distribution infrastructure supported by Directional Capital’s Aerospace Products International (API).
“We see strong potential in Russia and CIS region and FortAero has the knowledge, experience and network to meet the demand”, said Peter Walker, Nextant Vice President, EMEA and APAC. “It is a young and expanding aviation market which understands the convenience of business aviation. Light cabin aircraft have traditionally struggled in the Russian market due to limited range. This is not a problem for the Nextant 400XTi. With a 3,710 km (2,003 nm) range the aircraft can easily fly from Moscow to London, Barcelona or Cairo without refueling with the quietest and most comfortable cabin in its class.”
With a rapidly growing economy and the sixth largest GDP in the world, Russian government and business leaders are looking for time-efficient and cost-effective travel to Europe, the Middle East and within the Commonwealth. The Russia/CIS entry-level jet market is estimated to be 69 aircraft valued at $225 million and growing. However, the total Russia/CIS market, including aircraft owned by residents but registered abroad, is estimated to be at least three times this size.
“The Nextant value proposition is perfect for Russia and CIS”, said Vadim Opryshko, CEO of FortAero and President of Nextant CIS. “The 400XTi has the comfort, range and technology the local market expects with a price half that of the competition.
We are seeing increasing demand for cost-effective business jet travel to Europe and the Middle East for business people and their families. There is also a strong and growing market to provide supplementary lift for large corporations who currently operate large cabin aircraft but want a more cost effective solution for their managers, lawyers and key advisors.”
About Nextant Aerospace
Nextant Aerospace is recognized as the first company in the world to introduce aircraft remanufacturing to the business jet market. The Nextant 400XTi is a completely-rebuilt Beechjet 400A/XP with Williams FJ44-3AP engines and the Rockwell Collins Pro Line 21™ integrated avionics suite. The new aircraft also has major aerodynamic enhancements and an improved engine mounting configuration with redesigned nacelles and pylons. The 400XTi is delivered with a two-year full-aircraft warranty and after-sales support provided by a global network of owned and authorized service centres. Founded in 2007, Nextant is based in Cleveland, Ohio. Nextant is a Directional Aviation Capital company. For more information, please visit, like us on Facebook, follow us on Twitter @nextantaero or join us on LinkedIn.
About Directional Aviation Capital
Directional Aviation Capital is a private investment firm whose single focus is private business aviation. Combining strategic aviation ownership, unmatched experience and revolutionary vision, Directional continues to innovate and evolve private aviation. Directional’s unique industry experience enables them quickly to understand business aviation companies and provide the financing and operational strategy needed to take advantage of market opportunities. For more information, visit www.directionalaviation.com.
Communications Director, Nextant Aerospace
+44 7904 950 841
Marketing Manager, Nextant Aerospace