N715MG

The airframe, registered as N715MG, is a Gates Learjet Corp-built Learjet 55 (Longhorn) completed in 1981 with manufacturer serial number 55-003. Ownership is recorded to Richard L Richards PA Trustee, a trust based in Coral Gables, FL, US, which serves as the aircraft's operator/home base. Recorded on the U.S. civil register as a U.S.-registered aircraft, the airframe is noted in valuation records at $700,000, reflecting its market position among mature late-model business jets. No other registry actions or intermediate ownership transfers are published for this specific serial in the provided data.

The aircraft retains a model-standard executive interior described as a typical 2 crew + 7 passengers configuration with an enclosed aft lavatory, supporting short to medium transcontinental missions and executive shuttle duties. Avionics commonly fitted or retrofitted on the series for this airframe are the Collins FIS-85 / ProLine suites, providing modernized flight management and navigation capabilities relative to original installation standards. Based in Coral Gables, FL, the operator profile implies frequent use for business travel within the continental U.S., Caribbean, and Gulf routes consistent with the 2,244 nm range and 419 kt cruise speed. Maintenance considerations for this specific jet follow those typical for a two-engine, turbofan business jet of its vintage, with engine and avionics overhaul cycles driven by the Honeywell TFE731 series and any ProLine retrofits present.

The Learjet 55 (Longhorn) occupies a niche as a light-to-midsize business jet offering relatively high cruise speed and a service ceiling of 51,000 ft, positioning it competitively against contemporaries that emphasize speed and climb performance. In the resale and charter market, examples like N715MG are sought for efficient point-to-point executive missions but reflect lower market values due to age, systems modernization needs, and maintenance status—hence the documented $700,000 valuation. Prospective buyers and operators weigh the airframe’s performance advantages against typical maintenance, avionics upgrade, and interior refurbishment costs common to early-1980s business jets.