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Gulfstream just revealed 2 all-new ultramodern private jets, including the longest-range plane in its history - take a look at the G400 and G800

<ul class="summary-list"><li>Private jets boomed during the start of the pandemic as customers sought <keyword id="11896628" type="UNKNOWN" weightage="60" keywordseo="travel" source="Orion">travel</keyword> perceived as safer.</li><li>Experts say the convenience of private jets and the reduction of airline connectivity also contributed to the surge.</li></ul><p><keyword id="12272456" type="UNKNOWN" weightage="60" keywordseo="private-aviation" source="Orion">Private aviation</keyword> has boomed since the start of the pandemic as deep-pocket travelers ditch commercial flying for the percieved safety and convenience of private travel.</p><p>With the onset of COVID-19 in 2020, many travelers turned to private <keyword id="12018329" type="UNKNOWN" weightage="60" keywordseo="aviation" source="Orion">aviation</keyword>, and industry leaders say the exodus from commercial travel stemmed from customers wanting to reduce potential COVID-19 exposure and avoid crowded airports.</p><p>"While the number of touchpoints for a typical airline trip can number 700, flying private can reduce that to just about 30," Alex Fecteau, Boeing Business Jets' director of marketing, <a href="https://www.aopa.org/news-and-media/all-news/2021/october/11/boeing-business-jets-marks-twenty-fifth-anniversary">said at the NBAA Business Aviation Convention and Exhibition in October.</a> "There's a greatly perceived measure of increased safety flying private."</p><p>Meanwhile, Tradewind Aviation co-founder and vice president David Zipkin told Insider that customers want a more convenient and reliable travel experience during a turbulent year full of delays, cancelations, and unruly passengers. He also said airline connectivity has contributed to the switch, <a href="https://www.businessinsider.com/united-will-stop-flying-to-11-us-cities-indefinitely-list-2021-11">with many carriers scrubbing routes or decreasing frequencies</a>, prompting travelers to opt for <keyword id="12856406" type="UNKNOWN" weightage="60" keywordseo="private-flying" source="Orion">private flying</keyword>.</p><p>"We are seeing people leave commercial flying for the health and safety, but stay for the convenience," he said.</p><p>Because of the increased interest, mostly from new customers, business aviation take-off and landings in the US are up 40% year-over-year, <a href="https://www.cnbc.com/2021/11/26/the-rich-are-getting-richer-and-theyre-fueling-a-private-jet-boom.html">reported CNBC</a>. According to analysts, the trend is attributed to the "wealth boom" that has occurred during the pandemic and widened the customer base.</p><p>"The addressable market right now for business jets has expanded. The pie has gotten bigger," Embraer chief commercial officer Stephen Friedrich said. "And the result is from continued wealth creation of over 12% when you take a look at the billionaires in the world, but also from what was traditionally Fortune 100 and large private companies." </p><p>The surge in business aviation has caused <keyword id="12324783" type="UNKNOWN" weightage="60" keywordseo="private-jet" source="Orion">private jet</keyword> inventory to drop below 3% for companies like <keyword id="12018327" type="UNKNOWN" weightage="60" keywordseo="gulfstream" source="Orion">Gulfstream</keyword>, Embraer, Cessna, and Bombardier, according to data from Jefferies Equity Research, reported CNBC.</p><p>"Things are really tight in used <keyword id="12324782" type="UNKNOWN" weightage="60" keywordseo="business-jet" source="Orion">business jet</keyword> <keyword id="11896919" type="UNKNOWN" weightage="60" keywordseo="aircraft" source="Orion">aircraft</keyword>, inventories the lowest we've seen in years, and yet prices are 20 to 30% higher," John Schmidt, global aerospace and defense industry lead at consultancy Accenture, told CNBC.</p><p>With the market booming, planemakers see an opportunity for engineering new private jets to meet the growing demand. Here's a look at some of the models and concepts that were introduced in 2021.</p><h2><strong>Dassault Falcon 10X</strong></h2><p><strong></strong></p><div type="image" title="Dassault Falcon 10X" height="1156" width="1541" msid="88622288" hostid="261"></div><p><a href="https://www.businessinsider.com/dassault-falcon-10x-largest-ever-private-jet-features-design-2021-5#and-gulfstreams-g700-which-has-not-yet-achieved-certification-can-fly-7500-nautical-miles-7">French aircraft manufacturer Dassault unveiled its new flagship private jet in May</a>, the Falcon 10X. The plane costs $75 million, can fly over 7,500 nautical miles, and boasts the widest cabin of any competitor. Dassault's Falcon 10X is the largest and widest aircraft the company has ever built, and it <a href="https://www.businessinsider.com/why-dassaults-falcon-10x-will-be-category-killer-coolest-features-2021-7">hopes the long-range plane will stack up to competitors like Gulfstream and Bombardier</a>.</p><h2><strong>Gulfstream G700</strong></h2><p><strong></strong></p><div type="image" title="A Gulfstream G700 Private Jet — Gulfstream G700 Tour 2021" height="1666" width="2223" msid="88622291" hostid="261"></div><p>The G700, which <a href="https://www.businessinsider.com/gulfstream-debuts-75-million-g700-private-jet-tour-photos-2021-9">Insider's Tom Pallini saw firsthand when it stopped in Doha, Qatar</a> on its world demonstration tour, boasts a large cabin and impressive range. The new $75 million jet can fly up to 7,500 nautical miles and be configured with up to five living spaces with room for 19 passengers. The cabin is wide enough to house a bedroom with a full-size bed, which can be installed instead of an office, as well as an en suite bathroom with an onboard shower.</p><h2><strong>Gulfstream G400</strong></h2><div type="image" title="Gulfstream G400" height="1500" width="1999" msid="88622293" hostid="261"></div><p><a href="https://www.businessinsider.com/gulfstreams-new-private-jets-g400-and-g800-2021-10">Gulfstream unveiled two new next-generation twinjets in October, the first being the large-cabin G400</a>. The plane boasts the largest and quietest cabin in its class with two and a half living areas accommodating up to 12 passengers. The jet also offers the lowest cabin altitude in its class and 10 panoramic windows, which are the largest in the industry.</p><h2><strong>Gulfstream G800</strong></h2><div type="image" title="Gulfstream G800" height="1500" width="1999" msid="88622294" hostid="261"></div><p>The second jet Gulfstream revealed in October was the long-range G800. The aircraft can fly further faster than its predecessors with the help of its 13,496-pound thrust Rolls-Royce engines. The plane can fly up to 8,000 miles at Mach 0.85, which is further than the Boeing 787 Dreamliner, <a href="https://www.boeing.com/commercial/787/">according to Boeing specs</a>. </p><h2><strong>Honda Aircraft Company HondaJet 2600</strong></h2><p><strong></strong></p><div type="image" title="HondaJet 2600" height="724" width="965" msid="88622296" hostid="261"></div><p><a href="https://www.businessinsider.com/honda-private-jet-concept-first-transcontinental-light-aircraft-2021-10#the-aircraft-will-set-a-handful-of-class-records-including-having-the-highest-flight-ceiling-at-47000-feet-the-highest-cabin-pressurization-at-6363-feet-and-the-tallest-cabin-height-at-5-feet-and-25-inches-5">Honda Aircraft Company revealed its newest private jet concept in October</a>, the HondaJet 2600 that is intended to be the world's first light aircraft capable of nonstop transcontinental flying across the US. The plane will have a range of 2,625 nautical miles and set several records, including the highest flight ceiling, highest cabin pressurization, and the tallest cabin height.</p><h2><strong>Bombardier Challenger 3500</strong></h2><p><strong></strong></p><div type="image" title="Mockup of Challenger 3500." height="734" width="979" msid="88622298" hostid="261"></div><p>Bombardier announced an upgrade to its Challenger 350 private jet in September, naming the new version the Challenger 3500. The mid-sized plane has not had a major update since its 2014 debut, but the manufacturer sees the necessity for a revamped aircraft as the demand for business travel continues to boom, <a href="https://www.reuters.com/business/aerospace-defense/exclusive-bombardier-set-launch-updated-version-challenger-350-private-jet-2021-09-13/">according to Reuters</a>. The plane will have a redesigned cabin and feature undisclosed elements from the company's Global 7500 jet. </p>

Private aviation boomed during the pandemic and the industry is reshaping itself with new business jets to keep up with growing demand

Just a few days ago, the world watched cycling climate activists protest against private jets in Amsterdam. This move was ridiculed by some, while others lauded the targeting of private jets due to the disproportionate manner in which they pollute the environment. Ironically enough, for reasons more than one, <keyword id="6354912" type="General" weightage="50" keywordseo="egypt" source="Orion">Egypt</keyword> now watches as hundreds of private jets scurry world leaders to the country holding this year's most prominent climate conference, <keyword id="12515304" type="General" weightage="20" keywordseo="cop27" source="Orion">COP27</keyword>.<br /><br />According to reports, some 400 private jets have graced the country's airports since November 4, despite EGYPTAIR offering special flights for all delegates to attend the event. While some sources allege lower numbers, this remains a recurring problem. Previous summits have continued to rack an increasing carbon footprint, with COP26 recording a tragic 1,02,500 tons of CO2 equivalent in 2021 — four times higher than the one before it.<br /><br />However, some media also note fewer private jets than at last year's conference. Nevertheless, this mode of transportation used managed to rile up many climate activists across the social media spectrum due to the apparent underlying hypocrisy.<br /><br />The reason is simple — private jets emit an absurd amount of greenhouse gases. While commercial aeroplanes technically produce more per kilometre, their large passenger size results in much lower emissions per passenger. <br /><br />According to estimations by <keyword id="60684" type="General" weightage="80" keywordseo="bbc" source="Orion">BBC</keyword>, if each of these private jets carried 15 people, each person would account for about three tonnes of CO2 equivalent on their journey. In comparison, if each of these delegates travelled in premium class, they would only be responsible for half a tonne CO2 equivalent each.<br /><br />These are still deflated numbers since the carbon footprint of the total life cycle (stuff that includes construction and maintenance of the jets) is not considered within these emission definitions. In addition, the most common private plane flown into Egypt, according to BBC, is the Gulfstream G650, which uses about 1,893 litres of fuel per hour. Over five hours of flight, the jet would consume over 9,000 litres of aviation fuel.<br /><br />However, some experts also maintain that focusing on this negligence might be missing the point. Climate expert Gareth Redmond-King explained to BBC that these emissions are "negligible compared to the impact of decisions and commitments made at these summits."<br /><br />"If you want emissions to come down, you want leaders in the room and media, scientists and stakeholders asking the important questions," he continued.<br /><br /><h2>Recommended stories:</h2><br />    <div type="Article" hostid="261" msid="95508774" title="EU to make large companies disclose their environmental impacts much more extensively; will other nations follow suit?" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div><br />    <div type="Article" hostid="261" msid="95451340" title="While 62% Indian businesses admit sustainable strategies can be profitable, only 7% actually reap its benefits" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div><br />        <div type="QUIZ" hostid="261" msid="94051791" title="Sustainability Quiz : Climate Change" mstype="1" mssubtype="2"><payload><![CDATA[sustainability-quiz]]></payload></div>      <br />

COP27 attendees criticised for hypocrisy after Egypt receives 400 private jets

<ul class="summary-list"><li>The <a target="_blank" href="https://www.businessinsider.com/see-bombardiers-new-78-million-global-8000-private-jet-netjets-2022-12">Bombardier Global 8000 is poised to become the world's new fastest private jet</a> come 2025.</li><li>For now, the two speediest purpose-built private planes in service rocket at over 700 mph.</li></ul><p>The fastest commercial airliner still in service today is the 50-year-old <a target="_blank" href="https://www.insider.com/see-inside-boeing-747-jet-korean-air-2023-9">Boeing 747</a>, which can reach speeds of up to Mach 0.92, or 706 mph at sea level.</p><p>Meanwhile, the <a target="_blank" href="https://www.businessinsider.com/flying-japans-largest-airline-tokyo-los-angeles-economy-ana-review-2023-4">Boeing 787 Dreamliner</a> is the world's fastest twin-engine widebody jet and can journey at Mach 0.90, or 690 mph.</p><p>Some of the fastest aircraft in the sky, however, are purpose-built private jets.</p><p>And, they're getting even faster as manufacturers battle to attract deep-pocket customers who <a target="_blank" href="https://www.businessinsider.com/manufacturers-unveil-new-business-jets-as-private-aviation-booms-2021-12">prefer the privacy and convenience of private flying over commercial airlines</a>.</p><p>Here are some of the fastest private jets in the world — with one actually exceeding Mach 1 during a test flight.</p><h2>Dassault Falcon 7X/8X: Mach 0.90 (690 mph)</h2><div type="image" title="private jet Dassault Falcon 8X" height="3163" width="5000" msid="104261067" hostid="261" sizebytes="376236"></div><p>The tri-engine Dassault Falcon 8X is the <a target="_blank" href="https://www.businessinsider.com/see-inside-dassault-falcon-10x-private-jet-2023-6">successor to the Falcon</a> 7X with a longer range, better engines, and new avionics. Both can reach up to Mach 0.90, or about 690 mph at sea level.</p><p>Pop sensation <a target="_blank" href="https://www.insider.com/taylor-swift-spent-160-hours-using-private-jet-eras-tour-2023-8">Taylor Swift famously owns a Dassault 7X</a>, which has followed her along her colossal Eras Tour this year.</p><h2>Bombardier Global 7500: Mach 0.925 (710 mph)</h2><div type="image" title="Bombardier Global 7500 demonstration aircraft." height="721" width="1090" msid="104261069" hostid="261" sizebytes="17074"></div><p>The $75 million <a target="_blank" href="https://www.businessinsider.com/flying-on-75-million-bombardier-global-7500-private-jet-vistajet-2022-11">Bombardier Global 7500 is currently the world's largest and longest-ranged purpose-built private jet,</a> trekking more than 8,880 miles nonstop.</p><p>It's one of the speediest, too. According to the Canadian manufacturer, the plane can <a target="_blank" href="https://www.businessinsider.com/see-inside-the-75-million-bombardier-global-7500-private-jet-2022-12">fly at Mach 0.925</a>, which translates to about 710 mph.</p><p>A Global 7500 test plane, which was modified with the systems of its upcoming Global 8000 successor, even exceeded the speed of sound in May 2021.</p><p>It reached Mach 1.015 (about 779 mph), according to <a target="_blank" href="https://businessaircraft.bombardier.com/en/bombardiers-flight-test-vehicle-breaks-sound-barrier">Bombardier</a>.</p><h2>Gulfstream G500/G600/G650/G650ER/G800: Mach 0.925 (710 mph)</h2><div type="image" title="Gulfstream G650ER" height="1666" width="2500" msid="104261070" hostid="261" sizebytes="264458"></div><p>Like the competing Global 7500, most of <a target="_blank" href="https://www.businessinsider.com/gulfstreams-new-private-jets-g400-and-g800-2021-10">Gulfstream's lineup of multi-million dollar private jets</a> — including the G500, G600, G650ER, and G800 variants — can reach Mach 0.925.</p><p>The G800 is slated to enter the market in 2024.</p><p>The G280 and G400 siblings have a maximum operating speed of Mach 0.85 and 0.90, respectively — making the latter also one of the world's fastest <a target="_blank" href="https://www.businessinsider.com/elon-musk-private-jet-gulfstream-g650er-lifestyle-wealth-photos-2022-4">private jets.</a></p><h2>Dassault Falcon 10X: Mach 0.925 (710 mph)</h2><div type="image" title="Dassault Falcon 10X" height="1655" width="2500" msid="104261072" hostid="261" sizebytes="94834"></div><p>A competitor to both Bombardier and Gulfstream, the French-made <a target="_blank" href="https://www.businessinsider.com/see-inside-dassault-falcon-10x-private-jet-2023-6">Dassault Falcon 10X</a> twin-engine plane also can reach speeds up to Mach 0.925.</p><p>But, it is still under development and is not expected to hit the market until 2025.</p><h2>Gulfstream G700: Mach 0.935 (717 mph)</h2><div type="image" title="7 Gulfstream G700" height="1333" width="2000" msid="104261073" hostid="261" sizebytes="81788"></div><p>Gulfstream recently increased the speed of its flagship G700 plane to 0.935 Mach from 0.925 Mach, making it the <a target="_blank" href="https://www.gulfstream.com/en/aircraft/gulfstream-g700/">company's</a> fastest business plane.</p><p>G700 launch customer Qatar Airways Executive — the airline's private charter arm dedicated to flying its most elite customers — unveiled its <a target="_blank" href="https://www.businessinsider.com/see-inside-qatar-executives-75-million-g700-private-jet-2023-7">first Q700 business jet</a> at the Paris Air Show in June.</p><h2>Cessna Citation X+: Mach 0.935 (717 mph)</h2><div type="image" title="The Cessna Citation X+." height="695" width="1131" msid="104261076" hostid="261" sizebytes="31580"></div><p>With the <a target="_blank" href="https://www.businessinsider.com/gulfstreams-new-private-jets-g400-and-g800-2021-10">G700</a>'s recent speed increase, it now matches that of the Cessna Citation X+ — the American-built aircraft that previously held the title of the world's fastest private jet in service.</p><p>The Citation X+ is the upgraded version of the original Citation X, which entered the market in 1996. The <a target="_blank" href="https://www.businessinsider.com/donald-trump-selling-other-private-jet-cessna-citation-2023-5">"rocket in the sky"</a> has been owned by the ultra-rich.</p><p>Only 29 Citation X+s were delivered between 2014 and 2018 when production of the type ceased completely, <a target="_blank" href="https://www.flightglobal.com/business-aviation/final-citation-x-delivered-after-22-year-run/131829.article#:~:text=FlightGlobal%20can%20reveal%20that%20Textron,and%20its%20Citation%20X%20predecessor.">FlightGlobal</a> reported.</p><h2>Bombardier Global 8000: Mach 0.94 (721 mph)</h2><div type="image" title="Bombardier Global 8000." height="1667" width="2500" msid="104261077" hostid="261" sizebytes="418674"></div><p>The upcoming $78 million <a target="_blank" href="https://www.businessinsider.com/see-bombardiers-new-78-million-global-8000-private-jet-netjets-2022-12#expected-to-enter-service-in-2025-the-jet-will-steal-the-speed-crown-from-the-12-seater-cessna-citation-x-which-can-fly-up-to-mach-0935-3">Bombardier Global 8000 private jet</a> is poised to become the world's new fastest civil aircraft since the Concord when it enters service in 2025, boasting a top speed of Mach 0.94, or 721 mph.</p><p>Aside from going to the <a target="_blank" href="https://www.businessinsider.com/virgin-galactic-blue-origin-spacex-commercial-space-flights-tourism-cost-2023-7">edge of space on Virgin Galactic's Mach 3 commercial craft</a>, the near-supersonic Global 8000 private jet is about the closest travelers can get to breaking the sound barrier on a passenger plane.</p>

The fastest private jets in the world ranked by speed

<ul class="summary-list"><li>An Illinois mall owner is being sued by his investors over mismanagement of funds.</li><li>The investors say the mall owner used their cash to fund his life of luxury. </li></ul><p>Investors are suing the owner of a mall in Illinois, accusing him of using their cash to splash out on jets, luxury properties, and a lavish birthday party for his dog.</p><p>The lawsuit, which was first reported by <a href="https://www.bloomberg.com/news/articles/2023-05-30/strip-mall-owner-accused-of-using-investor-cash-for-private-jets?srnd=wealth" target="_blank" rel="noopener">Bloomberg</a>, alleges that Jonathan Larmore, and other staff at Arciterra – a property company that owned Belleville Crossing mall in Belleville, Illinois – had breached their duties when they transferred some of the investors' money to themselves "to fund their unbelievably lavish lifestyle."</p><p>None of the company's more than 2,000 investors have received dividend payments since August 2019, and some haven't received payments since 2011, it said. </p><p>Meanwhile, Larmore, his wife, and his mother collectively own approximately 12 houses throughout the US, including two recently remodeled "at tremendous expense" and four on an exclusive lake in Indiana. They also own a Cessna Citation jet, a <a href="https://www.businessinsider.com/gulfstreams-new-private-jets-g400-and-g800-2021-10">Gulfstream G400</a>, and have bought multiple cars and boats – including a $250,000 wake surf boat and a $2.5 million motor yacht, the plaintiffs said. </p><p>"They frequently throw lavish parties costing six figures. In the summer of 2022, they threw such a six-figure party, flying in friends and family on their private aircraft. One such party was to celebrate the birthday of their Boston Terrier, Spike," they added.</p><p>Insider contacted Arciterra and Jonathan Larmore via LinkedIn for comment but did not immediately hear back. </p><p>Arciterra <a href="https://www.arciterra.com/about-us-overview" target="_blank" rel="noopener nofollow">says</a> that it owns more than 80 properties in 24 states and has raised approximately $187 million in capital from outside investors. <a href="https://www.bloomberg.com/news/articles/2023-05-30/strip-mall-owner-accused-of-using-investor-cash-for-private-jets?srnd=wealth" target="_blank" rel="noopener nofollow">Bloomberg</a> reported that Arciterra has recently been sued by construction companies, a commercial cleaner, and the city of Milwaukee.</p><p>Belleville Crossing mall was one of its properties. The plaintiffs say that because the owners diverted company assets, they failed to pay necessary vendors and allowed the Belleville Crossing mall to fall into "a state of disrepair."</p><p>"Tenants complain of three-foot-tall weeds in planting beds, over-flowing and accumulating trash throughout the property, roof leaks not being addressed allowing ongoing water penetration damage as well as the complete absence of snow and ice removal," they said. </p><p>The mall was ultimately sold to an investor in a tax lien sale in November 2022 "due to Defendants' failure to timely pay property taxes," they added.</p>

Investors accused the owner of a mall in Illinois of using their cash to buy two jets and fund a lavish birthday party for his dog

<ul class="summary-list"><li><keyword id="1245936" type="PERSON" weightage="60" keywordseo="Aerion">Aerion</keyword> has broken ground on a new campus in Melbourne, Florida that will house the production facilities for its AS2 supersonic business jet.</li><li>The $300 million campus will be known as Aerion Park and span 110.6 acres at Melbourne International Airport on Florida's Space Coast. </li><li>Aerion expects to begin building the first AS2 in 2023 once the production and engineering facilities are complete. </li></ul><p>Florida's Space Coast is about to become the Supersonic Coast with a startup that's working to usher in the new era of supersonic <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> that has just broken ground on a new campus in Melbourne, Florida.</p><p>Aerion is investing $300 million into Aerion Park, a 110.6-acre campus on the grounds of Melbourne International Airport in central Florida where the startup's flagship craft, the AS2, will be built come 2023. Aerion Park will house the production plants capable of building 48 AS2 aircraft per year once at full strength and will be where customers come to design and then take delivery of their jets.</p><p>The AS2 was first announced in 2014 as the world's first supersonic business jet that will be able to fly between eight and 10 passengers at supersonic speeds of up to Mach 1.4, significantly cutting down travel times. It will be among the first in a new wave of aircraft that will once again take flyers beyond the sound barrier, a feat that hasn't been regularly accomplished since the iconic Concorde airliner retired from commercial service in 2003. </p><h2>Building on the Space Coast</h2><div type="image" title="Aerion Supersonic Aerion Park Groundbreaking" height="1390" width="1853" msid="79664800" hostid="261"></div><p>Aerion Park will be built in phases starting with the engineering, manufacturing, and production facilities first on the list, CEO Tom Vice told Business Insider in an interview, as production for the AS2 is slated to begin in 2023. Five AS2 test aircraft will be built from 2023 to 2025 and then the sixth aircraft produced at Aerion Park will go to the first customer. </p><p>All assembly, testing, and completion will occur at Aerion Park with the manufacturing center the size of around 14 football fields, Vice said. Customers will visit Aerion Park to design their aircraft in the customer experience center and then return to take delivery of the aircraft once complete. </p><p>Sustainability will also be a key tenet of the facility, just as it is for the AS2, with a focus on green technologies such as solar to power the plant's operations and 100% water recycling, including reusing rainwater. And for employees, Aerion Park will feature children's daycare, laundry services, and vehicle charging stations. </p><p>Melbourne, Florida was chosen by Aerion after a two-year selection process with the central Florida city standing out in part due to the available talent in the region and the activities at nearby Cape Canaveral. "There's a lot of excitement in the Space Coast and the Melbourne, central Florida area, Vice said, "not only with aerospace but obviously commercialization of space." </p><p>Melbourne International Airport offers near-direct access to the Atlantic Ocean, over which the AS2 can perform its supersonic test flights outside of any populated areas. And Aerion will be in good company as it will be located on the same airport as Brazilian aircraft manufacturer Embraer and miles from where NASA and SpaceX are launching the next-generation of rockets into space. </p><h2>Not just another Concorde</h2><div type="image" title="Aerion Supersonic AS2" height="1665" width="2220" msid="79664805" hostid="261"></div><p>The Concorde proved supersonic passenger travel viable and its disappearance from the skies was a step back for aviation that new startups are attempting to remedy with the next-generation of aircraft.</p><p>The <keyword id="7297728" type="UNKNOWN" weightage="60" keywordseo="Aerion-AS2">Aerion AS2</keyword> will boast a subsonic range of 5,400 nautical miles, comparable to a Gulfstream G500, and a supersonic range of 4,200 nautical miles. Flying from New York to London will only take four hours while flying to Sydney will take less than 14, though the latter will still require a fuel stop. </p><p>Melbourne residents also won't have to worry about their local airport turning into the next John F. Kennedy International, Charles de Gaulle, or Heathrow Airport, the three airports most frequented by the Concorde toward the end of its life. The AS2 will use what's known as "boomless cruise" where the jet can fly above the speed of sound but the dreaded supersonic boom won't reach the ground. </p><p>When flying subsonic, the jet's top speed will be Mach .95, faster than the Cessna Citation X that tops out at Mach .935. </p><p>After fielding a newly-announced order from China, Aerion now has 54 AS2 aircraft on order for a total order book valued at $6.5 billion. A single AS2 aircraft costs $120 million, around 30% more than the cost of the largest and fastest subsonic business aircraft currently in development or production with Gulfstream, Bombardier, or Dassault. </p><p>Aerion is projecting an entry into service date for the AS2 in 2027 after two years of test flying and certification beginning in 2025. But the AS2 is just the beginning as Aerion has greater plans for a jet that can fly at speeds four times the speed of the sound that Vice says will "disrupt all of aviation" when it debuts. </p><p>"We're building a future when humanity can travel between any two points on our planet within three hours," Vice said in a speech during the facility's groundbreaking event.</p>

Supersonic jet startup Aerion just broke ground on a new $300 million plant in Florida with plans to fly its first aircraft in 5 years - take a look

<ul class="summary-list"><li>Private jet operators are reporting that their long-range jets have been the most affected during the pandemic has international <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> has been greatly restricted by world governments.</li><li>Americans are only being welcomed into a handful of countries outside North America with most also requiring proof of a negative COVID-19 test to avoid a quarantine. </li><li>Repatriation flights have largely kept these aircraft <keyword id="52392" type="CITY" weightage="60" keywordseo="Flying">flying</keyword> with travelers still making their way home nearly six months into the pandemic. </li></ul><p>A key selling point in <keyword id="8693878" type="UNKNOWN" weightage="60" keywordseo="Private-aviation">private aviation</keyword> is convenience and the ability to fly non-stop on routes not served by the airlines is of paramount importance to business executives and leisure travelers alike. </p><p>The latest wide-cabin aircraft from Gulfstream and Bombardier pride themselves on being able to fly further than any <keyword id="121140" type="PERSON" weightage="60" keywordseo="private-jets">private jets</keyword> in their class, connecting city pairs previously only accessible with long-range commercial jets. Bombardier's Global 7500 and Gulfstream's upcoming G700, for example, can fly upwards of 7,500 nautical miles or around 17 hours in duration.</p><p>But Americans traveling 17 hours in any direction from the 50 states, however, will likely find themselves in a foreign country being turned away rather than welcomed with open arms, even if their arrival is on a multi-million dollar private jet. International travel restrictions have greatly hindered where Americans can travel with fears of the novel coronavirus keeping some borders shut.</p><p>A group of wealthy vacationers from Colorado discovered that lesson the hard way in July after flying to Sardinia, Italy. Authorities on the island – around 400 miles from the epicenter of the European outbreak in northern Italy– wouldn't let any of the <a href="https://www.businessinsider.com/italy-americas-tourists-unable-enter-sardinia-coronavirus-high-in-us-2020-7">American passengers leave the airport as they waited 14 hours for the crew to rest before leaving the following day</a>. </p><p>Despite the restrictions, private jet operators have said that their largest aircraft have found ways to remain active.</p><p>Here's how operators are making the most of their largest aircraft during the pandemic. </p><h2>Repatriation flights</h2><p>March saw world governments announce surprise travel restrictions with little notice that stranded some travelers on the wrong side of international borders. Commercial airlines and private jet operators alike were scrambling to adjust their flying and even to this day, travelers are still making their way home and some are relying on private jets to do so.</p><p>"It's been an interesting phenomenon to watch some repatriations where you've got customers in different parts of the world who want to either get home or bring family members home," Flexjet CEO Michael Silvestro told Business Insider.</p><p>Long-range aircraft are ideal for these flights as to avoid a stop in a third-party country, which could potentially create more complications for the passengers and crew. Every country has different rules regarding who they let in and though repatriation flights are typically granted for humanitarian reasons, that doesn't make them easier to arrange.</p><p>"It's not that it's impossible to do, it's just difficult to do so most people are just saying, we're not doing it," Silver Air CEO Jason Middleton told Business Insider.</p><p>A handful of countries outside of North America are open to Americans right now but most require a special dispensation for entry including proof of a negative COVID-19 test or positive antibody test, so operators are preparing their aircraft for any scenario. </p><p>"What we've done is, we've actually equipped the Globals tests that have a guaranteed 24-hour turn time that can be self-administered, mailed in, and then the results provided within a 24 hour period," XOJET Aviation President and COO Kevin Thomas told Business Insider. </p><p>Travelers wouldn't likely be able to book same-day flights for foreign countries that require proof of the negative test but it does make it easier for their aircraft to cross the border upon arrival and avoid potential concerns with local health authorities. </p><p>California's Silver Air was actually able to perform two separate repatriations in one round-trip, flying a Portuguese resident from the US to Europe and then picking up an American in the UK to bring back home to the US.</p><p>"If we're repatriating somebody into a country, we can do that pretty much anywhere in the world right now," Middleton said.</p><p>Executives noted that the aircraft aren't currently being used for overseas leisure flights since those trips are still heavily restricted and often require quarantine upon arrival.</p><h2>Popularity in the domestic market</h2><p>Long-range aircraft are still popular within the US as they often have the greatest number of seats short of an airliner and are useful for large groups traveling together. Coast-to-coast flights are a favorite in the domestic market because passengers don't have to worry about potential fuel stops along the route, as is the case with midsize and some super-midsize aircraft. </p><p>Operators are even reporting that coast-to-coast flights between New York and Los Angeles have remained popular despite travel restrictions imposed by certain states that are impacting visitors and residents alike. New York, for example, is <a href="https://coronavirus.health.ny.gov/covid-19-travel-advisory">requiring a 14-day quarantine for arrivals</a> from more than half of the US, as well as some US territories. </p><p>"New York to Florida, New York to California, California to New York, DC to the West Coast, those are typically our strong routes," Thomas said, "with Teterboro obviously being our busiest airport across the network."</p>

Private jet execs reveal how they're navigating international travel restrictions to ferry the wealthy using long-range jets

At the end of last year, <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>’s total government debt rose to INR 66.61 lakh crores, from INR 61.84 lakh crores at the end of December 2016, according to data from the Finance ministry. 93.1% of this is internal debt, or the debt owed by the government to domestic creditors<br /><br />Since one lakh equals 100,000 and a crore is 10 million, this is the equivalent of saying “India’s total government debt rose to INR 66.61 one hundred thousand ten millions.” Isn't it easier to just say, “INR 66.61 <keyword id="104119" type="PERSON" weightage="20" keywordseo="trillion">trillion</keyword>?” Either way, this is such a large number that it is hard to conceptualise. Here are some comparisons to help make it more real:<br /><br /><strong>The Vietnam War</strong><br /><br />America’s Department for Defence reportedly spent about <a href="https://thevietnamwar.info/how-much-vietnam-war-cost/">168 billion dollars </a>on military operations and economic aid in Vietnam between 1965 and 1975. After adjusting for inflation on <a href="http://www.usinflationcalculator.com/">US Inflation Calculator</a>, that amounts to around 1 trillion dollars in 2018. This excludes the cost of veteran benefits and grants.<br /><strong><br />16,650 Gulfstream G550 private jets</strong><br /><br />To quote a BI correspondent who flew on one, “<a href="https://www.businessinsider.in/I-flew-on-a-61-5-million-private-jet-and-now-first-class-just-wont-do/articleshow/54607494.cms">there are private jets and then there are Gulfstreams</a>”. If about 5,000 flights <a href="http://www.apaoindia.com/?page_id=949">take off in India every day</a> and we magically turned every airplane that took off into a brand new Gulfstream, you could buy every plane that takes off in India for three days.<br /><br /><strong>1/9th of all the gold in the world (21,500 tonnes of gold)</strong><br /><br />The World Gold Council estimates that around <a href="https://www.gold.org/about-gold/gold-supply/gold-mining/how-much-gold-has-been-mined">190,400 </a>tonnes of gold have been mined to date. At the latest spot price of <a href="https://www.gold.org/data/gold-price">US$1319</a> per ounce, that amounts to a total value of 8.86 trillion dollars. <br /><br /><strong>The entire market capitalisation of Apple Inc and Reliance Industries</strong><br /><br />With a total market cap of over 900 billion dollars, Apple is the world’s largest company by market value while Reliance has a market cap of INR 5.7 lakh crores, making it India’s most valuable company. <br /><br /><strong>569,000 apartments in Hong Kong<br /></strong><br />The average cost of a new housing unit in Hong Kong, the world’s most expensive property market relative to income, is estimated to be around <a href="https://www.ft.com/content/9206350c-6c62-11e7-bfeb-33fe0c5b7eaa">1.8 million dollars</a>.<br /><br /><strong>Vaccinating every child on Earth four times over</strong><br /><br />According to Rick Lesaar, who runs the blog <em>Health and Communications</em>, it would cost around <a href="http://www.healthandcommunications.com/blog/2016/7/4/what-would-it-cost-to-vaccinate-every-child-for-everything">250 billion dollars</a> to vaccinate every child between the age of 0 and 19 in the world against 15 diseases. <br /><strong><br />2560 original paintings by Leonardo Da Vinci</strong><br /><br />The Italian artist’s <em>Salvator Mundi</em> was sold for US$400m at an auction in November last year, making it the world’s most expensive painting. <br /><br /><strong>A 50% stake in Saudi Arabia’s national oil producer</strong><br /><br />The government-owned Saudi Aramco, the world’s largest producer of oil and gas and unofficially the world’s largest company by revenue, is preparing for an initial public offering of a 5% stake. The share sale is expected to raise 100 billion dollars, giving the company a valuation of 2 trillion dollars. <br /><br /><strong>A flagship smartphone for every Indian</strong><br /><br />Every single member of India’s 1.35 billion-strong population would be able to get a higher-end smartphone like a Google <keyword id="2740764" type="PERSON" weightage="20" keywordseo="Pixel-2">Pixel 2</keyword>, assuming an average price of just under 50,000. <br />

India's public debt is so large that it could buy every Indian a Pixel 2

<p><span class="KonaFilter image-container display-table"><span><span data-post-image="" class="image on-image"></span><p></p></span></span>Floyd Mayweather, Jr.'s nickname is "Money" for a good reason. He's practically made of cash. According to <a href="http://www.forbes.com/profile/floyd-mayweather/" target="_blank">Forbes</a>, the flamboyant boxing legend made more than $105 million in 2014 alone. &#xa0;And boy, does he know how to spend it!&#xa0;</p>
<p>Money Mayweather recently tweeted out photo of his jet along with a collection exotic cars with the words "Welcome to my world."</p>
<div><biembeddedobject id="f80421c9-3b69-4743-a0f8-feb6bac461a2"></biembeddedobject></div>
<p class="embed-spacer">&#xa0;For those who are curious, here's a breakdown of everything in Money's photo - and their approximate values:</p>
<p class="embed-spacer">A. Ferrari 599 GTB Fiorano - $350,000</p>
<p class="embed-spacer">B. Porsche 911 Turbo Cabriolet - &#xa0;$170,000</p>
<p class="embed-spacer">C. Lamborghini Aventador LP 700-4 - $400,000</p>
<p class="embed-spacer">D. Ferrari 458 Italia Spider - $260,000</p>
<p class="embed-spacer">E. Floyd "Money" Mayweather - networth est. $280 million.</p>
<p class="embed-spacer">F. &#xa0;Gulfstream GIII - est. $2 million.</p>
<p class="embed-spacer">G. Ferrari 458 Italia Spider - $260,000</p>
<p class="embed-spacer">H. Bugatti Veyron Grand Sport - $1.9 million</p>
<p class="embed-spacer">I. Bugatti 16.4 Veyron - $1.3 million</p>
<p class="embed-spacer">J. Bugatti 16.4 Veyron - &#xa0;$1.3 million</p>
<p class="embed-spacer">The total value of Mayweather's exotic car collection is roughly $5.94 million. For a guy with an estimated networth of more than $280 million, this is a drop in the bucket. After all, we're talking about the same guy who reportedly keeps $123 million in a <a href="http://www.businessinsider.com/floyd-mayweather-has-123-million-bank-account-2013-9" target="_blank">single bank account</a>.&#xa0;</p>
<p class="embed-spacer">Mayweather doesn't claim to be an automotive collector in the same realm as a Jay Leno or a Jerry Seinfeld. Rather, he seems to be a guy who enjoys having nice things around - multiple copies of the same nice things. At the end of the day, driving the same Bugatti everyday of the week would be...uncivilized.&#xa0;</p>

Checkout Floyd Mayweather's $6 Million Exotic Car Collection

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div>Floyd Mayweather, Jr.'s nickname is "Money" for a good reason. He's practically made of cash. And this weekend, the boxer's bout with long-time rival Manny Pacquiao is set to <a href="http://www.businessinsider.com/floyd-mayweather-pacquiao-fight-earnings-200-million-2015-4" target="_blank">add another $200 million</a> to his already hefty bank account.&#xa0;<p>That&#xa0;is in addition to the more than<a href="http://www.forbes.com/profile/floyd-mayweather/" target="_blank"> $105 million</a> the&#xa0;<span>flamboyant boxing legend made</span>&#xa0;in 2014.&#xa0;</p><p>And boy, does he know how to spend it!&#xa0;</p><p>Earlier this year, Money Mayweather tweeted out a photo of his jet, a collection exotic cars, and the words "Welcome to my world."</p><div><div></div></div><p class="embed-spacer">&#xa0;For those who are curious, here's a breakdown of everything in Money's photo - and their approximate values:</p><p class="embed-spacer">A. Ferrari 599 GTB Fiorano - $350,000</p><p class="embed-spacer">B. Porsche 911 Turbo Cabriolet - &#xa0;$170,000</p><p class="embed-spacer">C. Lamborghini Aventador LP 700-4 - $400,000</p><p class="embed-spacer">D. Ferrari 458 Italia Spider - $260,000</p><p class="embed-spacer">E. Floyd "Money" Mayweather - net worth est. $280 million.</p><p class="embed-spacer">F. &#xa0;<span>Ferrari 458 Italia Spider - $260,000</span></p><p class="embed-spacer">G. <span>Gulfstream GIII - est. $2 million.</span></p><p class="embed-spacer">H. Bugatti Veyron Grand Sport - $1.9 million</p><p class="embed-spacer">I. Bugatti 16.4 Veyron - $1.3 million</p><p class="embed-spacer">J. Bugatti 16.4 Veyron - &#xa0;$1.3 million</p><p class="embed-spacer">The total value of the exotic cars in Mayweather's photo is roughly $5.94 million. But that's not all. The boxer has reportedly owned more than <a href="http://www.businessinsider.com/floyd-mayweather-cars-cash-2015-4" target="_blank">100 luxury cars</a> over the years and is known to keep a<a href="http://www.businessinsider.com/floyd-mayweather-cars-houses-toys-2014-5?op=1" target="_blank"> collection of white painted cars in Miami</a> in addition to a fleet of black painted cars in Las Vegas.</p><p class="embed-spacer">However, based on some of the prices the boxer <a href="http://www.businessinsider.com/floyd-mayweather-cars-worth-2015-4" target="_blank">quoted in a recent interview with ESPN</a>, it is likely he grossly overpaid for many of the cars in his collection.</p><p class="embed-spacer">Then again, for a guy with an <a href="http://www.celebritynetworth.com/richest-athletes/richest-boxers/floyd-mayweather-net-worth/" target="_blank">estimated net worth of more than $280 million</a>, this is but a drop in the bucket. After all, we're talking about the same Mayweather who reportedly keeps $123 million in a <a href="http://www.businessinsider.com/floyd-mayweather-has-123-million-bank-account-2013-9" target="_blank">single bank account</a>.&#xa0;</p><p class="embed-spacer">Money Mayweather doesn't claim to be an automotive collector in the same realm as a Jay Leno or a Jerry Seinfeld. Rather, he seems to be a guy who enjoys having nice things around - multiple copies of the same nice things. At the end of the day, driving the same Bugatti everyday of the week would be ... uncivilized.&#xa0;</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/ray-lewis-addresses-baltimore-protests-kids-ravens-nfl-2015-4">Ray Lewis to kids in Baltimore: 'I'm you, I sat in that seat'</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ZkaWV0dDo1r8dKTYGskLYVI7iXf2BI27" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "gulfstream g400" and got 10 results

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