Fort Lauderdale, Florida-based VIP Completions today provided an update on its operations together with an outlook for 2024 activities that include a Boeing BBJ refurbishment. Now operating with full hangars, the corporate also expects to convert a Gulfstream G550 from a business aircraft to a Medevac air ambulance and perform a full interior refurbishment of a Dassault Falcon 7X.
“These are all big projects,” said VIP Completions president Ben Shirazi. “Working on corporate airliners and long-range business jets gives our team the chance to remodel and revitalize aircraft. Comprehensive refurbishments dramatically improve the in-flight experience while increasing the worth of our clients’ assets.”
While industry consensus appears to point a 2 percent growth rate this 12 months, leading to the delivery of 775 new-production business aircraft, a return to pre-pandemic “reality” and a largely recovered supply chain appear to point to a period of stability, based on VIP Completions.
“Looking specifically at preowned business aircraft, we anticipate a slight softening in pricing this 12 months,” said Shirazi. “Nevertheless, that could be useful for refurbishments and conversions because buyers will take a better take a look at value. In turn, owners may resolve that upgrading their current aircraft is more attractive than putting it available on the market. For these reasons, we imagine that refurbishments and conversions will remain quite strong…we’re feeling optimistic.”