Meanwhile, demand has shifted to aircraft with the range to cross an ocean and the room to stretch out; the Learjet 75’s cabin is just 4 feet, 11 inches high, meaning most adults can’t stand up. The same is true of other small rival planes.
Large-cabin aircraft are expected to make up about 40% of new private plane purchases in the next five years, according to a Honeywell International Inc. survey. Also, prices on used aircraft plummeted after the most recent recession, putting larger pre-owned planes in the price range of smaller models.
Learjet still has a reputation as a speedy plane with handling worthy of its fighter-jet forbears. Bombardier makes about a dozen a year and if the plane can sustain that level, “We feel very good about that,” Coleal said. “As demand and awareness and desire increases, we’ll ramp up production accordingly.”
It’s rare, though, that a plane recovers after features are removed and the price is cut, said consultant Vincent, who helps produces the JetNet IQ market intelligence report.
If the Learjet dies, it will be remembered fondly.
“It’s had a long, long productive life,” said Kenn Ricci, chairman of Flexjet, which offers the Learjet in its fractional-ownership fleet. “But all good things must end.”
This article was provided by Bloomberg News.