VIP Completions, a provider of aircraft completion and refurbishment services, has provided an update on its current operations and an outlook for 2024 – noting its hangars are currently full.
Major ongoing projects include the comprehensive interior refurbishment of a Boeing Business Jet (BBJ); the conversion of a Gulfstream G550 from business aircraft to medevac air ambulance; and the full interior refurbishment of a Dassault Falcon 7X.
“These are all big projects,” said Ben Shirazi, president, VIP Completions. “Working on corporate airliners and long-range business jets gives our team the opportunity to transform and revitalise aircraft. Comprehensive refurbishments dramatically improve the inflight experience while increasing the value of our clients’ assets. In the case of our air ambulance project, the contrast is even greater – going forward, that aircraft will be deployed to save lives.”
VIP Completions said industry consensus seems to be that growth in 2024 will be modest, somewhere around 2%. It added that the industry is back to a pre-pandemic reality and the supply chain is now generally supporting demand, so stability seems likely.
“Looking specifically at pre-owned business aircraft, we anticipate a slight softening in pricing this year,” said Shirazi. “However, that can be beneficial for refurbishments and conversions because buyers will take a closer look at value. In turn, owners may decide that upgrading their current aircraft is more attractive than putting it on the market. For these reasons, we believe that refurbishments and conversions will remain quite strong. If the first days of 2024 are any indication, we are feeling optimistic.”
The VIP Completions team brings more than 20 years of experience to business aircraft completions and refurbishment, primarily focused on long-range business aircraft.
