Epstein Secrets

and a decade later, an engine utilizing the TFE731-5 power section and a TFE731-3 fan was built and designated the TFE731-4, intended to power the Cessna Citation 650 and 750 series aircraft. The latest TFE731-50R, has 70 improvements to this already robust engine, including improved core and LP spoo

mation is taken from numerous industry sources, including General Aviation Manufacturers Association (GAMA), Honeywell Aerospace Forecasts, Boeing, Embraer, Airbus Industries, Cessna Aircraft Corporation, Federal Aviation Administration, IATA, ATA, and the National Business Aircraft Association (NBAA).

to stabilize. Of the five major manufacturers, Bombardier had the highest percentage of its respective fleet available for sale at 19%, followed by Cessna at 18%, and Dassault, Gulfstream and Hawker Beechcraft all at 16%. Chart 5: Business Jets Available for Sale and as a Percentage of the Installed B

150% S 16.4 3 18.7 -12% 5 216 -24% Feb-08 Falcon 2000EX Dassault 6% 11 12 -8% 3 267% 525.6 333.8 -24% 5 355 -28% Mar-09 Legacy 600 Embraer 13% 20 20 0% 2 900% 19.3 3 20.0 -4% 5 245 -21% Dec-07 Medium Large Challenger 300 embattle( 8% 22 22 0% 7 214% 18.1 3 24.8 -27%

ation in our bizjet survey. with particular strength at the high end. Our Neutral rating on TXT reflects concerns over the shape of the recovery at Cessna, given significant oversupply, fractional weakness, and increased competition at the low-mid end (Embraer). Of the suppliers. Buy rated COL is our

concerns over the shape of the recovery at Cessna, given significant oversupply, fractional weakness, and increased competition at the low-mid end (Embraer). Of the suppliers. Buy rated COL is our preferred play on business jets. Global Equity Research Americas Aerospace Sector Comment 24 March 2010

ation in our bizjet survey, with particular strength at the high end. Our Neutral rating on TXT reflects concerns over the shape of the recovery at Cessna, given significant oversupply, fractional weakness, and increased competition at the low-mid end (Embraer). Of the suppliers. Buy rated COL is our

concerns over the shape of the recovery at Cessna, given significant oversupply, fractional weakness, and increased competition at the low-mid end (Embraer). Of the suppliers. Buy rated COL is our preferred play on business jets. Global Equity Research Americas Aerospace Sector Comment 24 March 2010