$7.25 Million Dollar Baby

There’s nothing like a bit of Hollywood glamour to attract publicity. When veteran Oscar winner Morgan Freeman took delivery of Emivest Aerospace’s SJ30 Sn010 last November the world sat up.

As a private pilot who flies many hours a year, Freeman was a discerning customer. He told Emivest: “I’ve had my eye on the SJ30 for a while. It’s fast, economical to run and will allow me to undertake long flights without having to stop for fuel. I have been extremely pleased with its overall performance. The sea-level cabin is really comfortable, which is an added bonus whenever I travel.”

Freeman also has a twin-engine Cessna 414 and Cessna Citation 501 SP. The actor obtained his PPL aged 65 and has been flying his own aircraft since 2002. He now holds instrument and multi-engine ratings.

According to Anthony Power, Emivest’s chief executive, the star was also attracted by the single pilot certification and low acquisition and operating costs.

Power said: “When he first started looking for a new jet he looked at the Eclipse and the Cessna Citation Mustang. He realized that they couldn’t provide the combination of range and speed that he wanted. With his SJ30 he can fly non-stop on trips that used to take one and sometimes two stops in his Citation.”

The aircraft has a range of up to 2,500nm and the highest cruise speed in the light jet sector of Mach 0.83. According to the Pocket Guide to Business Aircraft, its 2010 list price is $7.25 million.

Freeman’s jet promotes his blues clubs in Memphis , Tennessee and Clarksdale , Mississippi . The Ground Zero Blues Club logo is emblazoned on the tail and the aircraft is painted with a complementing colour scheme.

The SJ30 is designed for comfort, given that it is likely to be used on longer hops. The cabin layout is luxurious with seating for five with a forward lav and club seating in the aft cabin. The forward lav means that there is extra legroom, since there is no need for an aisle to access an aft toilet. The rear seats are almost as wide as first class seats in an airline and can be almost fully reclined if necessary. 

Although selling an aircraft to a film star is a coup, the investment into the SJ30 represents a serious stake for the Emivest Investment Development Company (EIDC). Power said: “Our entry into the aviation sector is a further demonstration of the ambition and vision of the chairman, Mr Buti Saeed Al Ghandi, and the board of directors for the next phase of our ambitious growth plans in different markets where attractive dynamics exist.”

Development is an integral part of EIDC’s core business. This has been successfully applied to industry sectors as diverse as manufacturing, financial, service, aviation, telecoms, construction and real estate.

Power continued: “We see the SJ30 as an aircraft that provides exactly what the market needs; a performance leader in the light jet arena and a lower-cost alternative to mid-size business jets that can still provide the speed and range that those customers demand.” The SJ30 is also fuel efficient, minimizing direct operating costs and carbon emissions.

The delivery ceremony in Dubai in December fuelled interest in the aircraft in the Middle East . Power attributes this to the fact that the SJ30 can fly for as long as many of its mid-sized competitors. He said: “As the only light jet with the ability to reach Europe in a single stop, the SJ30 offers the perfect fit for businesses that need access to major financial centres in Europe and Asia .”

There has also been interest in converting the type to an air ambulance.

Power said the downturn has not affected Emivest’s order book. Perhaps a greater issue for the company has been its former issues with its suppliers. According to Power, relationships are now amicable. He said: “Emivest’s supply chain management is continuously working with suppliers to develop a strategy to provide the highest quality product and the latest applications available that will exceed our customers’ expectations.”

A further eight to ten aircraft are due to roll off the production line this year. 

Emivest is in discussion with several service centres in the US and internationally, and says it will have a factory-managed independent service centre network in place to support the customer fleet as it grows. The firm already has a Part 145 factory service centre in operation at its San Antonio base.

After so many troubled years the SJ30 programme is now stable. Happy customers like Freeman must sure thank its redemption.