Executive Jet G-VSP Order Worth $800 million

This week's sale of the 20 Gulfstream V-SP aircraft to Executive Jet is worth $800 million, which includes maintenance. The improved GV-SP, with a "more usable cabin," greater range and improved avionics, will become the flagship of Executive Jet's Gulfstream fleet.

The GV-SP sale and maintenance agreement is a further expansion of Gulfstream's fractional ownership program launched with Executive Jet in 1995. The order adds additional, new GV-SP orders and converts previous GV options to the new aircraft. To date, Executive Jet orders and options for the program have reached 81 GIV-SPs, GVs and GV-SPs. The new order will extend deliveries of the GV-SP aircraft through 2008.

The Executive Jet GV-SPs will be completed at Gulfstream's new $3 million completions and service hangar in Brunswick, GA. Executive Jet's first GV will be delivered in December.