Gulfstream Collects $2B in G700 Fleet Orders

Gulfstream hit paydirt with initial fleet orders valued at nearly $2 billion from Qatar Executive and Flexjet for the new G700 flagship unveiled on Monday evening at the NBAA-BACE static display at Las Vegas Henderson Executive Airport.

The Qatar Executive charter arm of Qatar Airways is taking 10 G700s worth $750 million at list price, with Qatar also having the honor of being the G700 launch customer. This supplements Qatar’s earlier orders for G500s and G650ERs, and the company is currently operating six G650ERs and five G500s.

Qatar Executive was the international launch customer for the G500. “We are excited to be the launch customer of the G700, the largest business jet in the industry, and are looking forward to the aircraft joining our fleet,” said Akbar al Baker, group CEO of Qatar Airways.

Flexjet, the first North America G700 fleet customer for the new Gulfstream, which placed a firm order for 16 G700s worth $1.2 billion at list price. It already operates G650ERs, G500s, and G450s, and was North America launch customer for the G500. Flexjet plans to make the G700 available for its Red Label service, which includes dedicated crews and other perks.

“The G700, with its speed, range, and versatility, will make an exceptional fractional offering,” said Flexjet chairman Kenn Ricci. “We anticipate that it will be ideally suited for those companies that need occasional access to global markets and will be the pinnacle of our Red Label offering.”

Gulfstream’s 7,500-nm G700 has five living areas, including an extra-large 10-foot-long galley, and is powered by a pair of Rolls-Royce Pearl 700 turbofans. First flight is planned in the first half of next year, followed by G700 service entry in 2022.