Gemma Downs, Transaction Manager, Jetcraft
Location: London, UK

How long have you been at Jetcraft?

I have been at Jetcraft since October 2021.

What are your responsibilities within the global Jetcraft team?

As a transaction manager I deal with all things legal. I get involved from the LOI stage onto the purchase agreement and then closing. My main role is to ensure that we have a successful and smooth closing, ensuring that we get the Bill of Sale in place, making sure that the documents are signed, and ensuring that we are not the ones holding up the transaction.

What do you love most about your job?

I like the challenge of it. Coming from a property background it is quite a similar role, but there are key differences from property to aviation. It has been a really big challenge getting to grips with the aviation law. I’ve been trying to keep up to date with it all and absorb as much information as I can so I can do the job as well as I can while also energizing myself in a challenging role.

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Product Overview

The Cessna Citation Latitude is a low-wing aircraft with retractable tricycle landing gear and a cruciform tail. The turbofan engines are pylon-mounted on the rear fuselage and fuel stored in the wings offers generous range for missions. The spacious interior offers a flat floor and circular cabin with space for baggage provided with the integrated steps in the tail cone with additional storage space available in the cabin.

As of June 2022, 14% of the Citation Latitude aircraft were purchased pre-owned by their current owners, the other 86% new. 1.6% are for sale with the majority of those (60%) under an exclusive broker agreement. When for sale the average time on the market is 82 days.

Brief History

The Cessna Citation Latitude (Model 680A) was first announced at the 2011 NBAA convention. The prototype first flew on February 18, 2014 and FAA certification came on June 5, 2015. First deliveries began in August 2015. NetJets purchased a large fractional fleet of 162 Latitude business jets as of June 2022.

Worldwide Appeal

There have been 309 Citation Latitude business jets built and all are in operation today. More than half of those (141) are wholly owned with 6 in shared and 162 in fractional ownership. 3.2% are currently leased. North America has the largest percentage of wholly owned Citation Latitude aircraft (79%), followed by Europe (13%). NetJets owns the largest fleet of Citation Latitude aircraft with 138.

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Jetcraft has named Idriss Abdelaziz as Sales Director. The appointment strengthens Jetcraft’s established footprint in EMEA, with Abdelaziz bringing extensive regional knowledge and market intelligence.

Before joining Jetcraft, Abdelaziz was Managing Partner at Swiss-based jet broker, AeroProp, following an eight-year career in investment banking. As Sales Director, Abdelaziz will manage Jetcraft’s sales, acquisitions and trades across 19 territories, including France, Benelux, Southern Europe and Northern Africa.

Pascal Bachmann, SVP Sales, EMEA at Jetcraft, says: “EMEA is an important market poised for continued growth.  According to our latest forecast,  the share of Jetcraft buyers under 45 has risen by 20% in the last five years, largely driven by activity in this region, and the UHNWI population in Europe, the Middle East and Africa is expected to grow 24% and 21% respectively by the year 2026. We look forward to working with Abdelaziz and drawing upon his experienc...

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At Jetcraft, our client base tends to be evenly split between Ultra High Net Worth Individuals (UHNWIs) and buyers of corporate fleets.

Naturally, during the pandemic, the level of activity from corporate buyers significantly tailed off, with many businesses establishing policies advising against travel.

The good news for our industry is that, with the world once again open for business, corporate travel is increasing, and companies are looking to renew their fleets as they restart their travel planning.

These are market developments that reflect our own optimistic outlook in our recent 5-Year Pre-Owned Business Jet Market Forecast.

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Younger buyers are playing a significant and increasing role in the expansion of the private aviation industry, according to the new data from our latest market forecast.

Ever Forward, Jetcraft’s 5-Year Pre-Owned Business Jet Market Forecast reveals that the share of Jetcraft clients under 45 has risen by 20% in the last five years. Further, these buyers are driving a trend towards larger aircraft purchases, with their average transaction price hitting $25m, some 31% higher than their over 45 counterparts. Nearly a quarter (24%) of Jetcraft’s pre-owned jet buyers in Europe are younger than 45, with this figure rising to 38% in the Middle East and Africa.

Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft, says: “We are now entering a post-pandemic business cycle from a new, higher starting point, with a predicted steady upward trajectory fuelled by more and younger first-time buyers entering the market, alongside strong demand for larger jets and a growing UHNWI ...

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Product Overview

The Challenger 850 is derived from the Bombardier CRJ-200 commercial airliner. The Challenger 850 has transcontinental range and a high-speed cruise. With the option of auxiliary fuel tanks, the Challenger 850 can have an increased range capacity.

As of July 2022, 77% of the Challenger 850 aircraft were purchased pre-owned, the other 23% new. 9.6% are for sale with the majority of those (86%) under an exclusive broker agreement. When for sale the average time on the market is 252 days.

Brief History

The Challenger 850, formerly the Challenger SE and then the Challenger 800, was first manufactured in 1996 as the Challenger SE (Special Edition) and rebranded in 2006 as the Challenger 850. Production of the Challenger 850 ended in 2017. A total of 74 Challenger SE/800/850 aircraft were produced with one since retired.

Worldwide Appeal

There are 73 Challenger 850 aircraft in operation today. The majority of those (72) are wholly owned with one in shared ownership. 13.7% are currently leased. Europe has the largest percentage of wholly owned Challenger 850 aircraft (41%), followed by North America (31%) and Asia (25%).

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Jetcraft is taking the next step in business aircraft sales, acquisitions and trades by establishing the first business aviation lounge in Decentraland, joining luxury brands including Louis Vuitton and Ferrari in the most prominent of the Metaverse platforms.

The Metaverse and Web3 are the new places to do business, with their growth expected to nearly double by 2024, according to Bloomberg Intelligence. Earlier in 2022, Decentraland held the first Metaverse Fashion Week, providing luxury retailers with pop-up stores, and users the opportunity to invest in NFT wearables and limited-edition pieces for their avatars.

Lauren Kinelski, Vice President Marketing, Jetcraft says: “Clients turn to Jetcraft for an unmatched international presence and local insight in every key region. Our sellers reach the widest global network of qualified aircraft buyers, and our buyers gain access to the largest aircraft inventory in the industry. We’re well covered in the physical world, with more...

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2022 marks a variety of significant milestones for Jetcraft, particularly for David Dixon, president of Jetcraft Asia.

This year sees David celebrate his 70th birthday, as well as his Golden Aviation Jubilee - 50 years in the industry. Throughout this career, David has continuously expressed his enthusiasm for aviation and selling aircraft to a vast range of customers.

Prior to specializing in business aviation at Jetcraft, David was involved in airliner and bush aircraft transactions. A self-proclaimed ‘aviation geek’, David has a passion for all aircraft types, particularly Spitfires, and will continue to work in the industry for as long as he can.

At Jetcraft, David’s career highlights include opening the Hong Kong office – the company’s first in the region, and growing Jetcraft’s market presence in Asia which paved the way for the more recent addition of a second office in Singapore.

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Product Overview

The Falcon 8X has extra range—due to an additional center-fuselage fuel tank and a lighter, redesigned wing compared to the Falcon 7X. The reworked wing also keeps the 8X competitive on short runways; it needs 5,880 feet to take off fully loaded but can stop in 2,245 feet.

The Pratt & Whitney Canada PW307D engines have been optimized offering an increase in thrust with lower emissions. The 8X has a cabin altitude of just 3,900 feet at a cruising altitude of 41,000 feet. The 8X has a service ceiling of 51,000 feet

As of June 2022, 12% of the Falcon 8X aircraft were purchased pre-owned by their current owners, the other 88% new, and there are no Falcon 8X for sale on the pre-owned market.

Brief History

Unveiled in May 2014, the latest addition to the growing Falcon business jet family entered into service in October 2016 after receiving both EASA and FAA certifications in June 2016.

Worldwide Appeal

There are currently 81 Falcon 8X aircraft in operation today. All of those (81) are wholly owned. 3.7% are currently leased. Europe has the largest percentage of wholly owned Falcon 8X aircraft (59%), followed by North America (16%) and Asia (13%).

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