23 Jun 2025, 17:44 [ UTC - 5; DST ]
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 27 Jan 2021, 19:25 |
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Joined: 12/03/14 Posts: 20380 Post Likes: +25563 Company: Ciholas, Inc Location: KEHR
Aircraft: C560V
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Username Protected wrote: How many birds that Covington works on have had engine failures in the last 10 years? And what percentage those were due to Covington workmanship? Probably not many, I'd wager. Mike C.
_________________ Email mikec (at) ciholas.com
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 27 Jan 2021, 19:54 |
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Joined: 01/16/11 Posts: 11068 Post Likes: +7095 Location: Somewhere Over the Rainbow
Aircraft: PC12NG, G3Tat
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Username Protected wrote: Update:
Speaking just to those reading this who own or are considering buying a King Air, I 100% stand behind my previous statement that Covington overhauls on a King Air is absolutely going to be a resale issue with most savvy King Air purchasers. I spoke to a stocking aircraft dealer yesterday, this guy has probably bought more King Airs (for resale) than anyone in the country. He is one of my closest piers in the King Air world and knows exactly what he is talking about. I asked him if he would buy a late model King Air with Covington overhauls, he said "only if I was taking the engines off and replacing them with Blackhawks"
That's a strong statement and I want to be clear that I mean no disrespect to my new friends at Covington and I hope they will forgive me for being brutally honest, but that is just the reality in the King Air world. I mean no disrespect to you and the stocking aircraft dealers, but if that is both your stance and you cannot explain that to a someone purchasing an airplane, then both of you are doing the buyer a disservice. I would not do business with either of you. Both StandardAero and Dallas are no where near the quality of Covington. They're owned by folks that care about carried interest and their stock price, not their customer. They will gouge you and not bat an eyelid. If you both don't understand how to explain this to a customer I'm truly baffled. I guarantee that they treat their staff the same way. If you continue along this vein and discredit Covington, we're not friends. Cause you care about the wrong things too. Tell him/her that they're idiots, and you can mention me by name. And I can tell ANY PC12 owners, past, current, future, having Covington do your HSI or overhaul will have NO EFFECT on the sale price. I betcha once folks get more than 2% of an education, you'll see that a Covington overhaul will be worth more. Frankly it's why I do my own work buying airplanes, and also why I missed out on the Avanti.......disinformation.
_________________ ---Rusty Shoe Keeper---
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 27 Jan 2021, 20:14 |
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Joined: 05/23/13 Posts: 8063 Post Likes: +10404 Company: Jet Acquisitions Location: Franklin, TN 615-739-9091 chip@jetacq.com
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Username Protected wrote: Update:
Speaking just to those reading this who own or are considering buying a King Air, I 100% stand behind my previous statement that Covington overhauls on a King Air is absolutely going to be a resale issue with most savvy King Air purchasers. I spoke to a stocking aircraft dealer yesterday, this guy has probably bought more King Airs (for resale) than anyone in the country. He is one of my closest piers in the King Air world and knows exactly what he is talking about. I asked him if he would buy a late model King Air with Covington overhauls, he said "only if I was taking the engines off and replacing them with Blackhawks"
That's a strong statement and I want to be clear that I mean no disrespect to my new friends at Covington and I hope they will forgive me for being brutally honest, but that is just the reality in the King Air world. I mean no disrespect to you and the stocking aircraft dealers, but if that is both your stance and you cannot explain that to a someone purchasing an airplane, then both of you are doing the buyer a disservice. I would not do business with either of you. Both StandardAero and Dallas are no where near the quality of Covington. They're owned by folks that care about carried interest and their stock price, not their customer. They will gouge you and not bat an eyelid. If you both don't understand how to explain this to a customer I'm truly baffled. I guarantee that they treat their staff the same way. If you continue along this vein and discredit Covington, we're not friends. Cause you care about the wrong things too. Tell him/her that they're idiots, and you can mention me by name. And I can tell ANY PC12 owners, past, current, future, having Covington do your HSI or overhaul will have NO EFFECT on the sale price. I betcha once folks get more than 2% of an education, you'll see that a Covington overhaul will be worth more. Frankly it's why I do my own work buying airplanes, and also why I missed out on the Avanti.......disinformation.
Mike, the thing I am trying to get you to understand is that this is not me, it's the general feeling in the King Air world. I put a lot of thought into posting what I posted, I wish it was different and believe someday that it will be.
You're shooting the messenger.
It is my responsibility to tell a client that if they buy a King Air with Covington overhauls as of today, it can be a resale issue... I am not making it a resale issue and it is not picking on Covington, or Prime or anyone else. If it isn't Pratt, Dallas or Standard it's a problem on a late model King Air.
Again, I have ZERO concerns about Covington's quality, I made a few phone calls today just to make sure attitudes had not changed, no one had anything bad to say about Covington.
Ultimately, this is a marketing challenge for Covington, they have to become equal (in perception) to Dallas and StandardAero, they just do. I didn't cause the problem and I'm not part of the problem I'm just pointing out the problem.
If you think it is ok to tell a guy who owns a 2015 King Air that it is ok to have Covington overhaul his engines and that it will not affect his ability to sell the airplane, you and I can't be friends. That is simply inaccurate and it is reckless.
The guys I am talking about are not idiots, they are the experts. It's not one, it's all of the top guys, it's common knowledge. You saying it shouldn't be so... doesn't make it not so.
And if you were buying a King Air, you would darn sure do business with me, because you know I know the King Air world and you don't.
I told Tom Welch yesterday that I thought gaining traction and a name in the TBM world and then leveraging that into the King Air community was an excellent strategy. I'm not disparaging Covington and I will support them 100% but them overhauling engines on a late model King Air and then having a half dozen King Air dealers tell their customer it was a mistake, would be a bad move.
_________________ Winners don’t whine.
Last edited on 28 Jan 2021, 08:36, edited 2 times in total.
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 27 Jan 2021, 21:22 |
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Joined: 12/03/14 Posts: 20380 Post Likes: +25563 Company: Ciholas, Inc Location: KEHR
Aircraft: C560V
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Username Protected wrote: You're shooting the messenger. I don't quite buy your claim you didn't help create and perpetuate the message. Ultimately, brokers make more money when planes sell for more money. That's true for seller and buyer agent generally. The easiest way to do that is to create the appearance of value from reputations and other soft assets. "Yeah, this plane is $300K more for the same thing, but it has Dallas overhauls!" Branding is essentially creating value from nothing but a perception, that is, more value than the thing itself intrinsically has. No brand can do that without a willing population of advocates. It is in your interest to be one of those advocates. In the end, all this means is that some folks will spend more for the name, and some folks will spend less for the same thing without the name. If both are happy, then the system is working for everyone. Mike C.
_________________ Email mikec (at) ciholas.com
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 27 Jan 2021, 21:23 |
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Joined: 06/02/15 Posts: 3797 Post Likes: +2645 Location: Fresno, CA (KFCH)
Aircraft: T210M
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Username Protected wrote:
I told Tom Welch yesterday that I thought gaining traction and a name in the TBM world and then leveraging that into the King Air community was an excellent strategy. I agree with this based on my former 10 years of TBMOPA membership. That group is hungry for competition to the PT6. Until that time comes they are hungry for ways to lower the cost of long term ownership of their engines. I would give Covington a strong look based on what Michael P. has stated, but have concerns that align with Chip. Right now, I believe that the formal TBM "network" of dealers/distributors, brokers, and advisors would be leery. Again, not my feeling toward Covington, just reading the room in a figurative way. Like any group the TBMOPA has its influencers, some can be very passionate. I have seen it in the past and once a few people start endorsing something others will get on the bandwagon. TBM owners like to fly and the idea of dropping off the plane and returning later to pick it up with a fresh low cost HSI would absolutely get my attention.
_________________ G3X PFD, G3X MFD, G5, GFC500, GTN750xi, GTN650xi, GTX345
Previous: TBM850/T210M/C182P APS 2004
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 27 Jan 2021, 21:38 |
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Joined: 05/23/13 Posts: 8063 Post Likes: +10404 Company: Jet Acquisitions Location: Franklin, TN 615-739-9091 chip@jetacq.com
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Username Protected wrote: You're shooting the messenger. I don't quite buy your claim you didn't help create and perpetuate the message. Ultimately, brokers make more money when planes sell for more money. That's true for seller and buyer agent generally. The easiest way to do that is to create the appearance of value from reputations and other soft assets. "Yeah, this plane is $300K more for the same thing, but it has Dallas overhauls!" Branding is essentially creating value from nothing but a perception, that is, more value than the thing itself intrinsically has. No brand can do that without a willing population of advocates. It is in your interest to be one of those advocates. In the end, all this means is that some folks will spend more for the name, and some folks will spend less for the same thing without the name. If both are happy, then the system is working for everyone. Mike C.
We charge a flat fee based on the model of aircraft, we in no way benefit from an aircraft selling at a higher price, in fact our goal is to negotiate the best deal we can for our clients. It is important to note that the best deal is what you paid for it vs. what you can sell it for... not the lowest price.
As far as me creating this... that is laughable. I'm a babe in this industry, I've only been in it 20 years... there are companies that have been selling King Airs for longer than I have been alive. And, I'm not talking about brokers, I am talking about stocking aircraft dealers. These companies buy King Airs and then sell them. They buy most of the trade ins to Textron. They are making huge investments in inventory, they know what will sell and what will not.
No one is selling an airplane for $300k more because it has Dallas overhauls, it doesn't work that way.
_________________ Winners don’t whine.
Last edited on 27 Jan 2021, 22:04, edited 1 time in total.
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 27 Jan 2021, 22:02 |
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Joined: 05/23/13 Posts: 8063 Post Likes: +10404 Company: Jet Acquisitions Location: Franklin, TN 615-739-9091 chip@jetacq.com
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When it comes to what is acceptable, or marketable in the aviation world, you have to understand that most are slow to adopt to new things. There are forces at work here that companies spend millions of dollars and decades to change.
There is a very well established King Air market, it is made up of the owners, the dealers, the pilots, the mechanics, the advisors, the brokers, the magazines and blogs... the vendors, the repair stations... the speakers at NBAA... Textron... the list goes on. There is a huge amount of tribal knowledge and opinions that influence what those in the market are willing to accept.
I didn't decide one day that if an airplane didn't have engines overhauled by a certain shop that the value was impacted. I was taught that. This isn't some type of fairytale... this is reality. Mike and Mike can say it's wrong, get mad at me or blame me. I'm not blowing the house down, I'm just telling y'all it's windy outside.
_________________ Winners don’t whine.
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 28 Jan 2021, 09:02 |
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Joined: 01/11/11 Posts: 1214 Post Likes: +622 Company: FUSION
Aircraft: B300ER B200 C90 DHC6
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Username Protected wrote: I would not seek these engines in 4M king air. That is not covington’s market place. I’m sure one of their pratt overhauls in a Thrush or air tractor is a different story Really? In a sense, it is just like some operators saying that they do not want to send their pilots to the King Air Academy or to FlyRight for training, because they do not have the same name recognition as the big providers. That perception shows lack of due diligence and lack of understanding of the quality and safety that is required to operate your 4M aircraft.
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 28 Jan 2021, 13:59 |
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Joined: 06/28/09 Posts: 14385 Post Likes: +9516 Location: Walnut Creek, CA (KCCR)
Aircraft: 1962 Twin Bonanza
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Username Protected wrote: I'm still unclear on the difference.
the HSI is done to P&W specs, right?
so how is the Covington HSI different the one done by Dallas? That's what I've been trying to find out. If Pennman had gone to Dallas or Pratt, what would have been different and what would the cost have been. Anecdotally, my understanding is that Pratt will replace a bunch of worn stuff with new stuff. I was told by two shops, "You can save money by doing a cheap HSI but it's a pay it now or pay more later thing". Obviously Pennman and other don't see it that way, but I would still like to know what precisely is changed for new and what that means over a full overhaul cycle.
_________________ http://calipilot.com atp/cfii
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 28 Jan 2021, 14:16 |
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Joined: 10/11/13 Posts: 951 Post Likes: +836 Location: Wake Forest, NC
Aircraft: Malibu,Husky,TBM7C2
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Username Protected wrote: I'm still unclear on the difference.
the HSI is done to P&W specs, right?
so how is the Covington HSI different the one done by Dallas? I have no dog in this fight. My engine is currently being overhauled. My mechanic got the same quote from Covington as Dallas so no price advantage. We went with Dallas because they have a shop in NC. His opinion is that they do equivalent quality work.
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 28 Jan 2021, 14:22 |
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Joined: 05/23/13 Posts: 8063 Post Likes: +10404 Company: Jet Acquisitions Location: Franklin, TN 615-739-9091 chip@jetacq.com
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Username Protected wrote: I'm still unclear on the difference.
the HSI is done to P&W specs, right?
so how is the Covington HSI different the one done by Dallas? That's what I've been trying to find out. If Pennman had gone to Dallas or Pratt, what would have been different and what would the cost have been. Anecdotally, my understanding is that Pratt will replace a bunch of worn stuff with new stuff. I was told by two shops, "You can save money by doing a cheap HSI but it's a pay it now or pay more later thing". Obviously Pennman and other don't see it that way, but I would still like to know what precisely is changed for new and what that means over a full overhaul cycle.
A hot section inspection in and of itself is simple and really shouldn't cost that much. I would not expect an HSI on a first run engine to get expensive.
The comparison has been somewhat apples and oranges from the start of this thread, first of all we are talking about just splitting the engine and replacing nothing but consumables and putting it back together ($6500) and that is done "on wing" or in this case "on nose" which is very different than having the maintenance facility remove the Hot Section and ship it to the Overhaul Facility.
The biggest difference in the "premium" shops mentioned and the smaller shops is that the smaller shops are set up to do all the work including R&R in-house. That's a very different program and one that I see working really, really well for TBM owners, but much less well received by King Air owners. There are several reasons, almost all TBM's are owner flown and as mentioned above, looking for an excuse to fly. King Airs are much more often corporate aircraft that are pro flown, so for the King Air owner the savings begins to evaporate in fuel, pilot, and lodging expenses. Not to mention downtime. That is why the common practice is to have the HSI done in conjunction with a scheduled maintenance event.
As far as the question of how would a Covington HSI event differ from a StandardAero HSI event, I would not expect that they would, except for what I explained above.
To Adam's point, yes there can be some discretion on what gets replaced and when. If you go ahead and replace something that is starting to fail it could be a very good investment. This is typically material loss which causes damage to other components in the engine.
Let's take CT Vane Rings for example, on these big Pratts they all crack. Penman's had cracks, with regular straight cracks that are within limits, you can leave them or you can repair them. BUT... if you have converging cracks you are supposed to replace the CT Vane Rings. This is because once the two cracks meet, you'll lose a chunk of material that becomes an asteroid flying through the universe that is your rotating group. CT Vane Ring = Expensive. Blades = VERY EXPENSIVE.
Pay me now, pay me later.
I have absolutely seen one shop say cracks were not converging and another say they were. Both shops were premium shops mentioned here.
It's gets worse.
New CT Vane Ring... much dinero.
Overhauled Exchange... less dinero.
Guess which one Dallas Airmotive will attempt to quote, sell and install if you let them.
I'm betting Covington will upfront offer the less expensive alternative.
OK, I am on THIN ice with my engine knowledge, so if anything I said above is inaccurate, someone please correct me! I typically refer these types of issues straight to an engine expert.
_________________ Winners don’t whine.
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Post subject: Re: New M600 vs used TBM/PC12 Posted: 28 Jan 2021, 15:31 |
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Joined: 01/16/11 Posts: 11068 Post Likes: +7095 Location: Somewhere Over the Rainbow
Aircraft: PC12NG, G3Tat
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Username Protected wrote:
I have no dog in this fight. My engine is currently being overhauled. My mechanic got the same quote from Covington as Dallas so no price advantage. We went with Dallas because they have a shop in NC. His opinion is that they do equivalent quality work.
Don't confuse a quote with a bill. Two totally different animals.
_________________ ---Rusty Shoe Keeper---
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