4Q 2022 Blue Book Updates

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Fourth Quarter Updates to

The Official Helicopter Blue Book^®

HeliValue$, Inc. has recently reviewed pricing in

The Official Helicopter Blue Book^®

Adjustments were made for the following helicopter models:

Mfg.Model

Airbus

AS350B3

AS350B3e / H125

EC130B4

EC130T2 / H130

EC135P1

EC135T1

EC225LP / H225

Bell

206Bll

206Blll

206L-3

206L-4

407

407GX

407GXP

407GXi

429

Kaman

K-1200

Leonardo

AW109S Grand

AW139 Short Nose

AW139 Long Nose

500D

530F

Robinson

R44 Raven ll

R44 Clipper ll

R66 Turbine

Sikorsky

S76C+

S76C++

S92A

Comments

Value Increase

Value Decrease

Value Increase / Value Decrease

Value Increase

Value Increase / Value Decrease

Value Increase

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.

Visit our Website: www.helivalues.com

4Q Market Overview

At last, supply is shrinking, and values are increasing. With almost 90% of the Q4 changes rising in value, I’d say we are finally on the right track, and we hope 2023 continues down this path. 2022 started running at full speed and slowed down in the second half of the year. Although the second half slowed, it was still a great improvement over 2021.

Piston - Values increasing on a few models with 0% - 50% component utilization, and at the same time, we have been seeing values decreasing on models with 50% - 100% component utilization. Only two models had any pricing changes needed this quarter, as the remaining models are still trading within the published values.

Light Single - Inventory is going away for the more popular and demanded models such as the Airbus AS350B2, AS350B3, AS350B3e, EC130T2, the Bell 206L3, 206L4, 407, 407GX, 407GXP, 407GXi, and the MD 500D, 500E, 530F. The demand remains so strong we are now seeing an increasing amount of “Aircraft Wanted” emails from the aircraft brokers. Older and less desirable aircraft are not seeing much movement, with values just hovering in place.

Light Twin – Inventory is also dwindling for a few of the popular models, such as the Airbus EC145T2, EC145D3, and Bell 429. While all Light Twin models that changed this quarter saw an increase in value, the Leonardo A109S Grand saw a slight decrease in value due to recent transactions. Older and less desirable aircraft are not seeing much movement these days, with values just hovering in place.

Medium Twin – The only notable mentions we see with the most action will be the Leonardo AW139, and the Sikorsky S76C+, and S76C++ models. The Leonardo AW139 aircraft is still very demand. Lease rates have increased, but at the same time, resale values have fallen. The AW139 market has remained remarkably stable through all the recent downturns, and we have finally made a pricing adjustment for the first time since April 2020. Until now, the values showed no sign of movement and remained steady. Overall, the AW139 is still one of the best value-retaining aircraft used in offshore transport. The Sikorsky S76C+ and S76C++ aircraft are also seeing another spike in demand for VIP transport with a minimal supply of configured low-time aircraft. Older and less desirable aircraft are not seeing much movement these days, with values just hovering in place and more aircraft entering the part-out phase.

Heavy Twin - Following suit with the increasing lease rates, the first increases in values in years have been made to both the Airbus EC225LP and the Sikorsky S92A models. Supply has shrunk to 2015 levels, and we finally see most aircraft back working again. The Airbus EC225LP has been proving itself in the utility sector as an excellent lifting machine with growing popularity. The S92A, while facing issues with parts availability, remains in heavily demanded. Over the past two years, there have been a few EC225LP and S92A aircraft purchased for parts; breaking these down and removing them from the market, it has both helped with some of the parts supply issues as well as the removing aircraft from the market that would have probably never have flown again.

All in all, we are optimistic about what 2023 has in store for us. With the OEM’s not ramping up production as they did back in 2014, they are keeping a steady backlog which has helped keep the balance of used aircraft low. As long as the demand remains strong, we can expect more positive changes in the future.

HeliValue$, Inc.,will be attending the Airbus Helicopters 2023 Energy, Investors and Appraisers Symposium on January 31–February 1, in Marseille, France, as well as the 2023 HAI Heli Expo on March 7th–9th in Atlanta, Georgia. If you would like to schedule a meeting, please contact jason.kmiecik@helivalues.com.

If by chance you are a helicopter owner or operator and are seeing something other than what we are publishing, please give me a call at 1-847-487-8258 or send me an email at jason.kmiecik@helivalues.com and I will be happy to discuss the market with you. If you have any sales you would like us to know about, I would also be happy to discuss them with you. Without your willingness to share information, we wouldn’t be here to keep the industry informed and up to date.

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