Industry Insights

At Jetcraft, we’ve put together the strongest and most dedicated team of aviation specialists, ready to sell your aircraft quickly and at the best price. That includes our legal experts, who handle negotiations for letters of intent, purchase agreements, and closing for each aircraft, while simultaneously advising the sales team on how to best structure their transactions.

In this video, Matt Potts, General Counsel – EMEA, explains the dedicated support Jetcraft can provide, navigating even the most complex of deals.

How is the legal team involved in Jetcraft’s deals?

The legal team are generally only involved if we are purchasing and selling an aircraft. This could be an almost simultaneous purchase and sale, purchase for inventory or sale out of our inventory. We handle all the negotiations for the letters of intent, purchase agreements, drafting, closing preparations, and closing of the aircraft. On the front end of the deals, we will also advise the sales team on how to properly structure a transaction and get the logistics right so that we can get the deal done successfully.

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India’s aviation sector is thriving. No other country in the world ordered more aircraft during 2023, with Indian airlines spending billions on close to 1,000 new jets. This surge highlights the strength of the commercial aviation market and demonstrates significant growth potential for the business aviation sector.

The nation is currently the busiest Asian market for business jet activity, with WingX data showing movements in 2023 are up 21% compared to 2022. The report also shows 2023 business aviation flying levels are down 4% on 2022 globally, so India’s growth is bucking the trend. At Jetcraft, we’ve seen rising demand from prospective buyers in India, with midsize and large aircraft types the most popular.

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During the pandemic, business aviation became a hugely attractive option for those who had the means but had never previously flown privately. Many ultra-high net worth individuals (UHNWI) quickly recognized the health, safety, time and productivity benefits business aviation offers.

It’s encouraging to read that some 95% of new entrants are continuing to fly privately, according to a study featured in Aviation International News. To support the long-term success of our sector, we need to build on this momentum to ensure all users of business aviation continue to have an exceptional experience. Here’s how.

Providing value

Our industry must promote the benefits of business aviation, which unlocks opportunity and drives economic growth by maximizing efficiency and connectivity.

During the pandemic, the ability to travel without boarding packed planes and waiting in crowded terminals was self-evident. This also provides peace of mind today, on top of the additional convenience and connectivity offered, which is particularly valuable when airlines are still frequently delayed.

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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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To our Clients, Partners and Friends,

Over the past 60+ years, we’ve been fortunate to consistently expand our business, and in 2023 we saw many defining moments in Jetcraft’s story.

In April, we solidified our premier sector position, acquiring North American firm CFS Jets. Our collective team of more than 100 global advisors now bring over a century of combined experience and the most diverse product expertise in the industry. Last year we also teamed up with Bill Papariella as the exclusive trading partner to AeroVentures. We’re working together to foster long-term growth and share information, including Jetcraft’s market-leading data and analytics. And, in a first-of-its-kind collaboration, we joined forces with Jetquity, opening up their pioneering Residual Value Program to our client base.

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The International Air Transport Association (IATA) has announced that 2023 exceeded initial profit expectations, and the outlook for 2024 is even more promising with projections indicating a record $964bn revenue for the airline industry in the coming year.

In fact, 2023 was a near-historic year with a surge in aircraft purchases, including during the Dubai Airshow with Emirates ordering 95 Boeing and 15 Airbus planes, Air Baltic firming 30 additional A220-300s and Turkish Airlines signing a momentous deal for 220 Airbus aircraft in December. As reported in November, these deals are part of a record -breaking 2,370 aircraft orders placed with the two manufacturers in 2023.

As this year’s activity shows, there is industry-wide confidence in the future, with travel now back to pre-pandemic levels. This trend is likely to continue, even if demand might dampen slightly in response to a recession forecast in the US in the first half of 2024.

While the confidence on display is good ne...

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With younger entrepreneurs in the technology and financial sectors now wielding significant purchasing power, we’ve seen that the number of Jetcraft buyers under 45 years old has risen by 20% in the last five years. Additionally, our 2023 Pre-Owned Business Jet Market Forecast also found these younger buyers fly their aircraft 19% more on average than those aged over 50.  

It’s no surprise either that new research from Bain & Co shows that millennials and Generation Z are increasingly driving the ultra-luxury sector, accounting for all of the luxury market’s growth last year.  

Connecting with our audience is how we’re successful. We know our customers. And our regional presence gives us a cultural understanding that many other aircraft specialists can’t match. This insight also applies to the different generations that now make up our customer base. 

So how do you engage with the next generation when it comes to selling luxury assets? 

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At Jetcraft Commercial, we have decades of experience in commercial aircraft transactions. Over the years, we’ve worked with every type of customer across the globe and have seen airlines succeed and fail.

The current landscape provides ample opportunity for this combination of success and failure. On the one hand, commercial aviation has been forced to contend with significant headwinds over the last few years and the post-Covid recovery remains underway. On the other, in adversity there is opportunity, which is why we’ve seen many new carriers enter the market, including Norse Atlantic Airlines, Canada Jetlines, and Bonza in the past year alone, as well as existing smaller operators such as Provincial Airlines in Canada rapidly expanding to replace legacy carriers who have exited markets.

While the prospects for start-up airlines can be exciting, our experience indicates there are several key considerations that will prove key to success.

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Today Jetcraft unveils its virtual hangar, giving visitors 24/7 year-round access to a range of aircraft in a 360-degree immersive experience.

The hangar launch brings together Jetcraft’s full Beyond the Globe experience, following on from the opening of its Decentraland-based lounge, where it became the first business aviation specialist to establish a permanent presence in the Metaverse.

Peter Antonenko, President, Jetcraft noted: “In a world dominated by mobile technology and constant activity, having a virtual space at your fingertips is convenient for all our customers, both new and returning. Over the past five years, we’ve witnessed a remarkable increase in Jetcraft buyers aged under 45, who are embracing business aviation while already being well-versed in up-and-coming tech. We recognized early on the potential of the Metaverse and that offering virtual reality experiences meets the evolving needs of our clients.

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