IE Business Daily Business news for the Inland Empire.
Threshold Aviation Group in Chino is about to put one of its latest projects on display.
The company will fly a 10-seat Challenger 604 to Las Vegas for a convention of the National Business Aviation Association, scheduled to be held Oct. 10-12 at the Las Vegas Convention Center, said Peter Levine, a Threshold partner.
Threshold has already received several bids on the plane, and it will use the convention to showcase it before other potential buyers.
“It should go for a little more than $4 million,” said Levine, an aviation enthusiast and the chief executive officer of Shepherd Capital Holdings in Bellingham, Wash.,
Threshold, which is based at Chino Airport, buys, restores and sells private jets. It bought the Challenger 604 in March from a bank for an undisclosed sum, then spent five months giving the plane’s interior a major overhaul, including new carpets, seats and window panels.
Threshold officials also completed several equipment inspections and painted the plane’s interior and exterior
The plane is part of a family of jets that have been built in Canada since 1986. The jet that Threshold bought and restored was built in 2001, has 7,350 flight hours and has never been damaged, said Mark DiLullo, Threshold’s owner and chief executive officer.
Its flights hours are “a little low” for a plane of its age and size, making it potentially more attractive to buyers, according to DiLullo.
“It’s a real workhorse,” DiLullo said of the jet, which he said can fly non-stop from Los Angeles to New York without a hitch. “It would be perfect for a Fortune 500 company.”
