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4Q 2019 Blue Book Updates

HeliValue$, Inc. held its quarterly review of The Official Helicopter Blue Book®on February 4, 2020. Resale pricing adjustments were made for the following helicopter models:


Mfg.Model      Resale-Value   Comments
AS355NP       resale pricing decrease
BK117A4       resale pricing decrease
EC135P2/P2+       resale pricing increase
212       resale pricing decrease
407       resale pricing increase
427     --   configuration pricing decrease
CH-47D       resale pricing increase
S76A/A+/A++      ↓    resale pricing decrease
S76B     ↓    resale pricing decrease
S76C     ↓    resale pricing decrease
S76C+       resale pricing decrease/configuration pricing change
S76C++     ↓   resale pricing decrease/configuration pricing change
S76D     ↓    resale pricing decrease/configuration pricing change
S92A     ↓    resale pricing decrease/configuration pricing change



Resale pricing adjustments are based on actual sales transactions and current market conditions such as overall trends in asking prices, increase or decrease in supply, demand, and sales volume. We obtain sales pricing data from owners and operators, lenders and lessors, brokers and equipment manufacturers worldwide.


While we do review all models each quarter, frequently traded models are updated as soon as they begin to show variation from the previously published values. Stay up to date on resale pricing changes by purchasing an annual subscription. 



4Q Market Overview


HAI's HeliExpo 2020 was a HUGE success for us this year. Walking the floor for the first time in about 30 years instead of exhibiting, meeting owners, operators, vendors, gave us a great feel of what is going on in the industry. Meetings with lessors provided insight into the offshore oil and gas industry. Meeting with operators showed encouraging signs for the EMS markets with fleet replacement plans in place. All in all it was a leap in the right direction, as we all know this industry needs.


Piston helicopter sales slowed down again this quarter, and inventory levels have started increasing again. We attribute the increasing levels to more Robinson R44 models being put up for sale.


Light single turbine sales seem to have severely slowed this quarter, with inventory levels increasing again. Airbus AS350 series and Bell 407 series seem to be the exception, even though sales activity has fallen, the inventory levels seem to be falling as well. With the shrinking inventory levels for AS350 and 407 models, the sales prices are trending upwards again.


Light twin turbine sales remain stronger than last quarter, with inventory levels shrinking at a good rate. This is particularly due to the 135 / 145 / A109E / AW109S / and AW109SP sales taking place. VIP configured helicopters have been the majority of sales, with a very high percentage of them being converted for EMS operations. 


Medium twin turbines are finally seeing an increase in activity and sales. The downside of this is that the sales prices are continuing to decrease. With the S76 markets reverted to parting out the aircraft rather than trying to sell them, the only buyers left seem to be low time VIP buyers. With the new IOGP 590 and 420 standards released, the 412 series, S76 series through the C++, EC155 series, and the AS365 series are effectively removed from the list of aircraft allowed to operate in the North Sea. Although these are guidelines and not mandates, the IOGP standards usually trickle down to other areas of the world for offshore operations.


Heavy twin activity has slowed down - again - as inventory levels starting to increase - again. There have been a few recent sales of the S92A model and the parting out of this aircraft model has also started. Oil prices continue to remain low and will be the major determinant of values on this model going forward. The values associated with this model are going to remain low until the inventory levels diminish and there are no longer aircraft being offered at such low prices. 

By: Jason Kmiecik, President


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HeliCalc® is the newest addition to the tools and resources offered by HeliValue$. We developed it specifically for our customers with a strong background in helicopter operations, to give you 24/7 access to the value of your specific helicopter in its exact current configuration and component status. HeliCalc® provides a comprehensive report based on your helicopter’s actual component times, maintenance programs, and mission equipment.


HeliCalc® is not an appraisal and does not meet USPAP standards. It is an Automated Valuation Model (AVM) and should not be used in place of a formal appraisal performed by a Qualified Appraiser as defined in the U.S. Code of Federal Regulations, or its equivalent in your country.


If you are a Qualified Appraiser yourself, with the appropriate level of experience to establish competence as required by the professional appraisal standards of your country, HeliCalc® is a superb tool to aid you in performing helicopter appraisals. Let HeliValue$ do the research work of maintaining overhaul and replacement costs, maintenance intervals, and marketplace trends. All you have to do is enter the data and output the report. You can incorporate our HeliCalc® directly into your own appraisal report to your client.


To complete a HeliCalc® report you will need:

·    Current component status report

·    Detailed installed equipment list

·    The knowledge and experience to accurately read the reports and identify the components’ nomenclature, time remaining (TR) or time since overhaul (TSO).


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