Featured Aircraft - Bombardier Learjet 40XR

Brief History

The Learjet 40XR was first produced in 2006. The aircraft is a derivative from the Learjet 40 and combines advanced features from the Learjet 45. This aircraft is a great option in the light segment, with its impeccable cruise speed, cabin space and avionics upgrades. The aircraft climbs quickly to a certified ceiling of 51,000 that allows for easy travel with great nonstop flight nearly reaching coast to coast.

This aircraft was first introduced as a replacement for the Learjet 31A. The Learjet 40 was first introduced in 2003 and shares the Learjet 45s engines, avionics, wing, cockpit and fuselage cross-section. The only difference between the two aircraft is the length of the fuselage, which was cut by 2 feet in the Learjet 40 and took out two seats. The Learjet 40XR boasts the upgraded -BR engines from Honeywell that makes this aircraft very fast while also being fuel efficient light jet.

The Learjet 40XR maximum range increased to 1,808 nautical miles and increased takeoff weight.  The aircraft features a Honeywell Primus 1000 avionics suite, which features four cathode ray tube screens that are in a pilot-friendly efficiency on the panel.

Some of the key factors that set this aircraft apart from the rest of the class are the time to climb to cruising altitude and runway performance. The Learjet 40XR can climb to cruise altitude of 43,000 feet in 23 minutes and can comfortably operate on 5,000 foot runways with full load.  The aircraft also has an electronic braking system and thrust reversers that combined lead to smooth landings and exceptional performance. These factors have lead brand name charter operators such as Flexjet to invest heavily in these aircraft.

This aircraft has certainly shown its value in the light segment due to its outstanding performance and speed. With inventory levels rising, we have been seeing a drop in asking prices. The Learjet 40 / 40XR are outstanding values for the performance offered.  

Market Overview

The Learjet 40XR has not been immune to the struggles of the rest of the industry that are due to downward pressure from the rapid decline in the large cabin / super mid-size aircraft. These struggles can also be attributed to an oversupply of new aircraft being produced by the OEM. Bombardier has fallen victim to this as well, which is evidenced by the canceled future projects. This leads to a decreased price that OEMs are willing to take for trade-in aircrafts, which in turn leads to downward pressure on the pre-owned aircraft that enter the market. 

With increased supply, we tend to also see a decrease in pricing levels. The price range for the available aircraft is $1,795,000 to $3,500,000.

In 2014 and 2015, we saw 6 and 7 transactions, respectively. This market has seen an increase in trades in 2016 and is currently at 18 transactions year-to-date. The main driver of this trade increase is the large decrease in price.  Key factors that affect sale price for this aircraft are engine programs, avionics upgrades like WAAS / LPV, ADSB-Out, the condition of paint and interior, and maintenance status.

For a more detailed look into the Learjet 40XR pre-owned market conditions, including recent transactions and Vref retail value trends go to the full blog post at: