Peter Antonenko

Business aviation is sometimes described as a ‘time machine’ because of the efficiency it delivers. It also contributes significantly to the economy, creating jobs, connectivity and business opportunities that would not otherwise exist.

To fully understand the benefits of business aviation, we need to consider the role it plays for individuals, corporations and economies, alongside the data that proves the industry’s value.

Individuals

Business aviation offers control, providing flexibility over travel times and destinations that aren’t always available from airlines. When time is money, business aircraft can travel to multiple locations within the same day, maximizing productivity.

The significant value buyers are gaining from their aircraft is further underlined by our data. Usage among corporate and individual buyers has doubled since 2020, while the average flying time of 184 hours per year over the last five years demonstrates the important role jets play for people with limited time.

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Jetcraft became the first business aviation company to establish a permanent presence in the Metaverse when we built our Decentraland lounge in 2022. We unveiled our virtual hangar in 2023, providing a 24/7 immersive aircraft viewing experience that can be accessed via our website, lounge and Oculus headset.

Additionally, at the General Aviation Terminal in Nice Côte d’Azur Airport, business aviation users can now effortlessly enter our virtual space through an interactive Jetcraft display – which begins with the clouds parting to reveal our virtual hangar through the use of motion sensor technology.

Bringing the Metaverse and VR technology into our operations isn’t simply innovation for the sake of it. While it’s still early days, and how and when the internet will evolve is yet to be determined, we know that it’s crucial we join up our full Beyond the Globe experience to learn how to meet the requirements of business aviation’s changing customer base.

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This year marks Jetcraft’s 60^th anniversary, a significant milestone that we’re extremely proud to have achieved. A huge part of Jetcraft’s success to date has been our grit and determination. The journey to 2022 has not been a straightforward one, but we have emerged from the pandemic stronger than ever before and marked a record-breaking year for pre-owned aircraft transactions across the industry.

As we reflect on our 60-years’ experience, there are several ways in which we believe a business can build strategically and develop a global presence:

Firstly, ensuring you select the right people is critical, you need to have confidence in your team and trust their abilities. Success in this industry isn’t just about having excellent salespeople but having outstanding individuals who support the organization as a whole. At Jetcraft, our experienced financial, legal, branding and marketing teams are vital to guaranteeing seamless transactions for the benefit of our clients.

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As an established aircraft transaction specialist, Jetcraft has a long history of finding creative solutions during times of turbulence and COVID-19 has proved no different. A key part of our success has been a deliberate decision to develop a global business structure, to ensure Jetcraft can withstand world events and continue to serve our customers.

Jetcraft is now located in more than 20 countries worldwide and our team are experts at dealing with regional aviation requirements and regulations. This ‘boots on the ground’ structure has enabled us to source and move business aircraft our clients would otherwise not have access to during the pandemic.

Forming a global structure

Jetcraft began as a predominantly North American-based organization. When Jahid Fazal-Karim, Owner and Chairman of the Board at Jetcraft, joined the company he brought a global perspective with him, guiding Jetcraft’s direction and growth strategies, and determining where staff should be located.

Since that time, we have transitioned to an expanding international corporation with the introduction of operations in Russia, Dubai, Switzerland, Asia, Turkey, Australia, Africa and the UK.

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An upsurge in demand for aircraft as we approach the year’s end isn’t unusual. But the dual influences of Covid-19 and the imminent US election have combined to make this year’s fourth quarter unlike any we’ve experienced before. The pace of business is set to skyrocket between now and year end – and with that comes the potential for closing delays beyond December 31.

Prepare now, purchase later

If you want to close in 2020, you need to start your purchase now as pre-purchase inspection slots are already filling up fast.

Many maintenance providers were forced to make changes during lockdown, resulting in modified or reduced staffing levels. Meanwhile, owners are taking advantage of the downtime to complete due or upcoming maintenance. These factors are creating capacity challenges, leaving fewer pre-buy slots and less time to close on an acquisition.

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I’ll come right out and say it: I love airplanes, I love flying, and I love the business of business aviation. The combination of short-field landing capabilities, range and speed make private aircraft a perfect corporate tool. But something that’s often overlooked is how business aviation has an exceptionally broad range of utilizations, particularly in times of crisis, supporting air ambulance, cargo, and governmental missions.

Many industries have done an excellent job pivoting to meet the demands of the Covid-19 pandemic – distilleries making hand sanitizer, fashion brands stitching surgical masks and car manufacturers producing ventilators.  At Jetcraft, we are proud and privileged to be part of a sector that was ready to act when needed.

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Coronavirus (COVID-19) has brought much uncertainty to the world and, unfortunately, the future is still unclear. On behalf of the Jetcraft team, I want to personally reassure you that we are in a strong position to remain open for business and we are ready to transact. Moreover, our team is available to help you navigate your important aircraft-related decisions during this period. Here are some of the most popular questions we’ve recently been answering for our clients.

Should I consider an aircraft purchase now?

If you are in the position to do so, absolutely.  While these are challenging times, we encourage those who can to take a long-term view and consider aircraft purchases or upgrades to meet their needs.  However, it’s important to understand how to maximize your benefits and navigate the current market.

Good quality inventory is becoming available, interest rates are low and bonus depreciation still applies, so there is plenty to take advantage of if this is an option open to you. At Jetcraft, we are well-versed on how to leverage the current market to negotiate the best deal for our buyers.

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Last month we closed another successful presence at the NBAA 2016 convention and exhibition. Despite well documented market challenges and the then-looming US elections, the audience, transaction conversations and number of quality attendees were well above even our own reasonably high expectations.

Through the client and prospect conversations we had at our static venue, we saw that most in the industry remain upbeat and on-track with their aircraft acquisition plans. As we have stated often through this year, there are deals out there and business transactions continue at a solid pace. Jetcraft remains on track to close another record-breaking year, making 2016 and 2015 the two strongest years in our company’s history.

Financing and the US Election

Even though business is continuing at a solid pace, and the majority of our NBAA interactions were positive, a few conversations did raise a few concerns that some buyers and sellers in the industry might wish to keep their eye...

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