In celebrating our 60th Anniversary this year, our global team is sharing what words they would use to describe Jetcraft and how it feels to reach this 60th milestone.
This year marks Jetcraft’s 60th 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.
Jenny Lau, Group President, Sino Jet Management
How long have you been at your current organization?
Being the founder of Sino Jet Management, I have been here for 11 years.
What are your responsibilities within your organization?
I am responsible for providing strategic, financial and operational leadership for the company and closely coordinate and work with the Board of Directors and senior leadership team.
Describe a typical day or week in your role.
As soon as I wake up, I check my WeChat messages and email, then I set priorities for the day’s work and assign job tasks to the related personnel. Getting phone calls from clients or business partners to maintain good relationships with them, receiving charter or aircraft acquisition requests from clients or their referrals.
Product Overview
The Gulfstream G650 has the distinction of being the fastest and among the longest range business jets ever built. The fuselage cross section is a unique oval shape with 8 large (28 inch) cabin windows on each side and the wing uses greater sweep (36 degrees) than previous Gulfstream models with no leading-edge high-lift devices. Aircraft controls are completely fly-by-wire.
As of February 2022, 33% of all Gulfstream G650 aircraft were purchased pre-owned by their current owners, the other 67% new. 2.5% are for sale with all of those (100%) under an exclusive broker agreement. When for sale the average time on the market is 72 days.
Brief History
The Gulfstream G650 began production in 2012 and is still being produced presently. It had its first flight in November 2009 and received FAA certification in September 2012. A total of 190 Gulfstream G650 aircraft have been produced.
Worldwide Appeal
There are 161 Gulfstream G650 aircraft in operation today. The majority of those (156) are wholly owned with 3 in shared ownership and 2 in fractional ownership. 10.6% are currently leased. North America has the largest percentage of wholly owned Gulfstream G650 aircraft (47%), followed by Europe (25%) and Asia (24%)
Jetcraft Commercial Limited, the commercial aircraft division of Jetcraft, has acquired 14 Bombardier CRJ1000 airliners from HOP!, the regional arm of Air France.
Jetcraft Commercial will begin taking delivery of the jets between March and December 2022.
Raphaël Haddad, President of Jetcraft Commercial, says: “This is a significant acquisition for Jetcraft Commercial and I’m proud that three of these aircraft are ready to be placed. There is high demand for the remaining jets, emphasising the need within commercial aviation for aircraft capable of regional missions.”
Product Overview
The Legacy 500 is a mid-size business jet that was the culmination of a six-year development program for the fly-by-wire model. It features a flat floor and stand-up cabin which was a first for this class of aircraft. At the October 2018 NBAA convention Embraer introduced the Praetor 600 model as an upgraded variant of the Legacy 500.
As of November 2021, 35% of all Legacy 500 aircraft were purchased pre-owned by their current owners, the other 65% new. 3.6% are for sale with less than half of those (33%) under an exclusive broker agreement. When for sale the average time on the market is 29 days.
Brief History
The Embraer Legacy 500 had its first flight on November 27, 2012 and was certified in Brazil on August 12, 2014 followed by EASA and FAA approval at the end of September. An assembly line for the Legacy 500 was opened in Melbourne, Florida in June 2016 and production ended in 2020.
Worldwide Appeal
There are 84 Legacy 500 aircraft in operation today. The majority of those (82) are wholly owned with 2 in shared ownership. No Legacy 500 jets are being leased. North America has the largest percentage of wholly owned Legacy 500 (63%) followed by Europe (21%) and South America (10%).
Preston Jasper, Sales Manager, Jetcraft
Location: Minneapolis, MN, US
How long have you been at Jetcraft?
I started at Jetcraft in 2019 and recently transitioned to become a Sales Manager.
What are your responsibilities within the global Jetcraft team?
As the U.S. Sales Manager I spend my time drumming up activity, creating opportunities, finding new clients, and trying to communicate the value that Jetcraft has to offer.
Describe a typical day or week in your role.
Everything that I do in a given week is geared toward try to get deals done – created, finished, perfectly transacted. Whether a client is buying an aircraft or selling an aircraft, I am doing my best to represent them to our fullest ability and creating a smooth transaction for both parties.
By Dan Kilkeary, SVP Sales Americas, Jetcraft
In the United States, Jetcraft has seen a tremendous uptick in demand for aircraft ownership driven by health considerations of the Covid-19 pandemic and a rise in global wealth in the financial markets. This trend is reinforced by record levels of capital raising and Initial Public Offering (IPO) activity, and buoyed by supportive public market valuations. Here are our key takeaways from the private jet boom.
Business is coming back
Business aviation users are demonstrating a pent-up desire to travel to locations that are currently being under-served by airlines. The pandemic has led to a reduction in flight routes and several US carriers have seen mass flight cancelations caused by staff shortages. Private flying in comparison regained momentum much quicker and purchasing a private jet is enabling owners to mitigate the limitations of commercial travel, reaching their destinations faster and via a more direct route.
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.