Cessna 208B Grand Caravan EX

Cessna designed the Caravan in the early 1980s specifically for utility, freight, and small-airline operations. The original Cessna 208 (1985) had a PT6A-114 at 600 shp, 9-passenger capacity, fixed landing gear, and the cargo door that would become the airplane's defining feature. Within five years Cessna had stretched the airplane into the 208B Grand Caravan with a 4-foot longer fuselage and the PT6A-114A at 675 shp. The 208B became the volume aircraft and stayed in production with steady refinements for over two decades.

FedEx began deploying Caravans in 1985 for short-haul feeder operations. The FedEx Feeder operation has grown to include hundreds of Caravans flying small-package routes across the US and internationally. The airplane's combination of cargo capacity, reliability, and operating economics made it the right tool for that job. Other airlines and freight operators followed, and the Caravan became the standard small-utility turboprop in its size class.

Cessna introduced the Grand Caravan EX in 2013 with the more powerful PT6A-140 at 867 shp. The EX has better climb performance, better hot-and-high capability, and slightly faster cruise than earlier 208B variants. The EX is the current production variant. Textron has continued to refine it with avionics updates and detail improvements. The 208B Grand Caravan (non-EX) remains in production alongside the EX for buyers who don't need the EX's additional power. The PT6A-140 EX commands a premium over the PT6A-114A standard 208B.

The Grand Caravan EX cruises at about 186 KTAS at 10,000 feet, burning 50 to 55 gph of Jet A. The PT6A-140 EX is faster than the standard 208B with PT6A-114A by about 15 to 20 knots. Service ceiling is FL250 but the non-pressurized cabin limits practical cruise altitude to 12,000 to 14,000 feet for most operations. Climb performance with the EX engine is meaningfully better than the standard 208B, especially at gross weight on hot days.

Useful load is the Caravan's defining number. The Grand Caravan EX has about 3,800 pounds of useful load. Full fuel (335 gallons usable) leaves 1,600 pounds for people and cargo. The cabin holds 13 passengers in airline seating or substantial cargo with the seats removed. The cargo door (49-by-49-inch) accommodates freight pallets, snowmobiles, and substantial cargo. Range with reserves is about 1,000 nm at long-range cruise. The Caravan isn't fast, but it carries more than any other single-engine airplane in production.

The Pratt & Whitney Canada PT6A-140 is the engine on the Grand Caravan EX. It's a free-turbine turboprop rated at 867 shp. Pratt's published TBO is 4,000 hours with a hot section inspection at 2,000 hours. The PT6A-140 is one of the longer-TBO PT6 variants, designed for the high-utilization commercial operations the Caravan was built for.

Real-world reliability is the PT6 family's strong suit and the PT6A-140 tracks the rest of the family. FedEx Feeder's Caravan fleet routinely reaches TBO with predictable maintenance patterns. Commercial fleet operators have decades of operating data on the PT6A-114A predecessor, which has the same TBO and maintenance schedule. The engine is one of the most-overhauled PT6 variants worldwide.

Off-program engine overhauls run $250,000 to $400,000 depending on findings. The lower end of the range is competitive due to the high volume of PT6A-140 and PT6A-114A overhauls in the fleet. Commercial fleet operators often run off-program because their utilization patterns and self-insurance models favor pay-as-you-go maintenance. Personal owners are more likely to be on Pratt's Eagle Service Plan (ESP).

Plan on $550 to $800 per flight hour at 200 hours a year of utilization, all-in. Caravan operating economics depend heavily on whether the airplane is in personal use, commercial charter, or fleet operation. Personal-owner numbers run higher per hour because the utilization is lower and the calendar fixed costs spread thinner. Commercial fleet operators see meaningfully better per-hour economics because the airplane was designed around high-utilization service.

Fuel runs $275 to $385 per hour at 52 gph and $5.50 to $7 for Jet A. Engine reserves through ESP ($150 to $240 per hour) or off-program estimates ($120 to $180 per hour with self-insurance for unscheduled events) add another layer. Annual fixed costs (hangar, insurance, annual inspection, training) add $75 to $130 per hour at 200 hours a year of utilization.

Insurance varies substantially by operator type. Personal-owner Caravans with established turboprop pilots see $12,000 to $20,000 annually. First-time turboprop owners pay $25,000 to $45,000. Commercial operators have different insurance structures with hull and liability coverage scaled to revenue exposure. Most personal Caravans we see are owned by businesses or family offices rather than individual owner-pilots, which reflects the airplane's utility design.

Acquisition cost in mid-2026: Grand Caravan 208B aircraft (1990-2012) trade $1.5 to $2.4 million depending on year and equipment. Grand Caravan EX aircraft (2013+) run $1.8 to $2.8 million. New EX from Textron starts above $3.0 million. The Caravan is the cheapest large-cabin (10+ seat) turboprop in current production. Used market depth is excellent due to fleet operations cycling aircraft out for newer units.