emily.synan

Jetcraft is teaming up with the leading independent provider of maintenance support programs, Jet Support Services, Inc. (JSSI), to offer customers worldwide a unique, post-purchase unscheduled maintenance program for virtually all business jet makes and models.

The six-month post-purchase program will cover engines, airframe and APU after closing on all in-service aircraft acquired through Jetcraft.

Chad Anderson, president at Jetcraft, says: “What we are offering is peace of mind for aircraft buyers. Owners can feel confident in their new aircraft because, with this program, we are standing by the quality of the products in our inventory. Sellers who list with Jetcraft will also have an additional feature, which cannot be offered by any other dealer, to use in the marketing of their aircraft.

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This year, everything changed. But that hasn’t stopped our global team supporting you at every step, wherever you are. We’re providing you with the expertise you value from Jetcraft. And we’re expanding our offerings to bring you new opportunities. So, when the world can take off again, you’ll be ready.

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Patrick Stewart, former Corporate Accountant
Location: Raleigh, NC, US

How long have you been at Jetcraft?

I have been working on the accounting team at Jetcraft for 3 and a half years.

What are your responsibilities within the global Jetcraft team?

I work with the finance and administrative teams directly and help support our Controller for any special projects needed.  Functions include reconciliations, data analysis work, supporting with the monthly financial close and also assisting outside auditors with semi-annual and annual audits.

Describe a typical day or week in your role.

Most days start off by checking emails and seeing if anything urgent needs taken care of first.  If we are closer towards the end of the month my focus will be more geared towards our monthly close process, and ensuring our financials are readily available a few days after we start the new month.  Upon closing the month, reconciliations and different budgets will need to be updated accordingly.  I also review and support our accounts payable team on payments that may be needed or paid within that month.

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Product Overview

The Legacy 450 is a mid-size business jet, filling the gap between Embraer’s smaller Phenom aircraft and the larger Legacy 500 and 650 models. The Legacy 450 has a shorter cabin length (24ft vs. 27.5ft) and a smaller cabin volume (705cu. ft. vs. 823cu. ft.) than the Legacy 500.

As of February 2020, 14% of Legacy 450 aircraft were purchased pre-owned by their current owner, the other 86% new. 3.4% are for sale with all of those under an exclusive broker agreement. When for sale the average time on the market is 102 days.

Brief History

The Legacy 500 and Legacy 450 were announced by Embraer in April 2008. Both models were to be the first of their size with a flat-floor stand-up cabin and fly-by-wire. The Legacy 450’s first flight occurred in December 2013. Brazilian certification and FAA certification came in August 2015 with the first delivery following on 22 December 2015. Embraer increased the range of the Legacy 450 shortly after the first delivery, with a retrofit kit now available for the early build aircraft.

Worldwide Appeal

There are 59 Legacy 450 business jets in operation today. The majority of these are wholly owned (35), with 3 in shared ownership and 21 in fractional ownership. 9 are currently leased with 8 of those leased by fractional provider Flexjet. North America has the largest percentage of wholly owned Legacy 450 aircraft (83%), followed by Europe (14%). FlexJet – US has the largest fleet of Legacy 450 aircraft (22).

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Product Overview

The Global 6500 ultra-long-range business jet gives new life to Bombardier’s Global 6000 series with a re-designed wing, new flight deck features, and a high comfort cabin. The new Rolls-Royce Pearl 15 engines achieve an estimated range of 6,600 nautical miles and a top speed of Mach 0.9. The Global 6500 business jet features Bombardier’s Vision flight deck, which integrates four large display screens, a head-up display (HUD) and a combined vision system (CVS).

The aircraft is also equipped with high-speed SATCOM, graphical flight planning systems, an airport moving map (AMM) and Multi-Scan weather radar. It is integrated with the latest performance-based navigational aids, including a wide-area augmentation system (WAAS), localiser performance with vertical guidance (LPV) and area navigation (RNAV) systems,  en-route required navigation performance (RNP), RNP authorisation required (AR) approaches and controller pilot data link communication (CPDLC).

As of March 2020, only one Global 6500 is in operation and it is registered in the Cayman Islands. One delivery position is for sale with the order holder in the Virgin Islands.

Brief History

The Global 6500 is a new member of the Global family of business jets. The aircraft took its first flight on Jan. 31, 2018, received type certification in September 2019 from Transport Canada, and received FAA certification in December 2019.

There have been 19 Global 6500 business jets built, one is in operation while 17 have a Certificate of Airworthiness and are at the manufacturer waiting to be completed. One Global 6500 is currently in production.

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Wayne Starling, Executive Director, International Aircraft Dealers Association (IADA)
[email protected]

How long have you been at your current organization?

Over two years.

What are your responsibilities within your organization?

I am responsible for the day to day operations and the financial well-being of IADA, IADA Foundation, and Aircraft Exchange. My focus is to continually find ways to bring value to all our current members while recruiting new members.

Describe a typical day or week in your role.

My focus daily is to find ways to communicate more effectively with our members, answer various questions from members, and provide aid to the committees within IADA. I talk with various prospective members regarding the value of joining IADA while explaining why we require dealers to be Accredited and brokers to be Certified. Currently, I am also spending time talking with various publications providing updates on IADA, and what we are doing during these unusual times.

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Ryan Petersen, Director of Sales Engineering
Location: Minneapolis, MN, US

How long have you been at Jetcraft?

About 2 and a half years. I was originally a Sales Engineer working with a few different Sales Directors and now have shifted to the Director of Sales Engineering.

What are your responsibilities within the global Jetcraft team?

I work with the sales engineering team on how they interact with and support their sales directors. Functions include market summaries, research, valuations, training and helping with the marketing of aircraft.

Describe a typical day or week in your role.

It can start early in the morning as the Sales Engineering team and offices are in multiple time zones around the world including the United States, Hong Kong and Europe. I typically start by checking emails to get caught up on activities and tasks and move into project-based work later in the day. When I became the Director of Sales Engineering, my role shifted from supporting Sales Directors to supporting the sales engineering team and making sure they have the tools that they need to do their job.

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Product Overview

The Embraer Legacy 600 is a business jet derivative of the Embraer ERJ 145 family of commercial regional jet aircraft. The Legacy 600 is considered a “Super Midsize” category aircraft offering a three-zone cabin, a large aft lavatory with two windows and a 240 cu ft aft baggage compartment.

As of December 2019, 71% of Legacy 600 aircraft were purchased pre-owned by their current owner, the other 29% new. 8.6% are for sale with the majority of those (93%) under an exclusive broker agreement. When for sale the average time on the market is 370 days.

Brief History

The Legacy 600 was first introduced in 2000 at the Farnborough Airshow. JAA certification came in August 2002 and FAA certification followed soon after. The model was originally announced as the “Legacy 2000” and the model name “Legacy 600” was not adopted until 2005. Production ended in 2015 with a total of 175 Legacy 600 aircraft built. One has retired.

Worldwide Appeal

There are 174 Legacy 600 business jets in operation today. Most of these are wholly owned (168) with 6 in shared ownership. 8% are currently leased. Europe has the largest percentage of wholly owned Legacy 600 aircraft (31%), followed by North America (30%) and Asia (22%).

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Jetcraft, the global leader in business jet sales and acquisitions, is reporting strong activity at the beginning of 2020 as owners seek faster upgrades to new or longer-range models.

This activity can be attributed to the start of the Bombardier Global 7500 resale market, increased trade-in transactions to the company’s owned and listed inventory, and the ability to capitalize on both high and low performing regions through Jetcraft’s global reach.

Chad Anderson, President at Jetcraft, says: “The speed with which buyers are upgrading is unprecedented, with average ownership cycles now taking 4-5 years, down from the previous 7-10 years.”

Anderson cites the start of the Bombardier Global 7500 resale market as a key source of activity.  “The Global 7500 resale market has begun and energy around the product is building.  We sold one of the world’s first pre-owned 7500 jets at the end of 2019 and closed a second one this past February. We have other 7500 options coming soon, and the more units Bombardier delivers, the more acceptance this flagship seems to receive.”

As one of few companies with the ability to take in aircraft trades, Jetcraft is seeing a surge in trade-in activity right now.

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