Chris Hughes, Relationship Director Aviation, Lombard part of the Royal Bank of Scotland Group Plc

How long have you been at your current organization?

I have been with Lombard since March 2010 having previously worked in the Structured Asset Finance team at BNP Paribas Fortis in the UK, and before that at HSBC bank plc. I initially joined Lombard to work in the Corporate Asset Finance team but when an opportunity came up six years ago to get back into Aviation I jumped at the chance. The past six years have flown by …pardon the pun.

What are your responsibilities within your organization?

As a Director within our Aviation finance team I am involved to a degree in all aspects of the client life cycle. My primary role is deal origination, negotiation and execution but I also get involved in credit management, and assessing policy and risk appetite for the aviation business in general. A key component of the role is relationship management of both our internal and external stakeholders as well as our growing customer base.

Describe a typical day or week in your role.

I like to start the day with an early Crossfit fix, an early workout always sets me up for the day ahead. First thing I do when I get into the office is to check my emails and action anything that may have come in overnight. From there it’s a real mix of client meetings, internal stakeholder sessions, client calls and external stakeholder meetings together with taking time to catch up with the team on workloads and pipeline. My wife would say that my working week will always include one lunch meeting in London too…..

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As summer draws to a close and with Q4 on the horizon, it’s the perfect opportunity to reflect and celebrate our recent achievements as we look ahead to what the rest of 2019 has in store.

Jetcraft has been experiencing a period of accelerated growth and, in the past two years, we have expanded our team by more than 25%.

We announced the opening of our London headquarters in early 2018 and doubled our employees in Europe; crucial for serving the world’s second-largest business aviation market. It’s good news for our customers too, who use London as both a cultural and financial hub.

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The President of Jetcraft, Chad Anderson, recently spoke with Luxury Lifestyle Magazine about pre-owned aircraft. Why to buy a pre-owned aircraft, why are these almost-new aircraft available, and where to find them.

Luxury Lifestyle Magazine, September 2019

Pre-owned, vintage, used…from sports cars to designer clothes and beyond, these words don’t usually indicate ‘new’.

But, according to Jetcraft, the world’s leading aircraft sales specialist, pre-owned private jets don’t have to be ‘old’ – in fact, the savviest buyers are now picking up these airplanes after less than a year of use.

So how do buyers find an almost-new aircraft? And what’s bringing these jets to the market in the first place? We asked Chad Anderson, president of Jetcraft.

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Product Overview

The twin-engine, seven-seat HondaJet HA-420 is the first aircraft developed by Honda Aircraft Company. The over-the-wing engine mount is the major differentiating feature of the HondaJet and was engineered and proven by Honda after more than 20 years of extensive research and development. The HondaJet’s over wing engine mount configuration was designed to maximize cabin space and achieve lower wave drag at a high Mach number. The nose and wing are designed for laminar flow, and the main fuselage has a constant profile.

As of June 2019, 16% of the HondaJet HA-420 aircraft were purchased pre-owned by their current owners, the other 84% new. 23.3% are for sale with the majority of those (81%) under an exclusive broker agreement. When for sale, the average time on the market is 298 days.

Brief History

Honda began to research compact business jets in 1986. The design of the first HondaJet was years in the making, but the concept was locked-in in 1999. The first proof-of-concept version of the HondaJet flew in 2003 with the first FAA-conforming/production ready HondaJet having its first flight in December 2010. The GE Honda HF120 engine received FAA type certification on 13 December 2013, and production certification in 2015. The HondaJet HA-420 was certified in December 2015 with the first delivery happening that same month. A total of 120 HondaJet HA-420 aircraft have been built with 2 retired/stored and 28 at the manufacturer.

Worldwide Appeal

There are 90 HondaJet HA-420 aircraft in operation today. All of these are wholly owned and 3% are currently leased. North America has the largest percentage of wholly owned HondaJet HA-420 aircraft (82%), followed by Europe (11%).

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Colin Dunne, Sales Manager, Jetcraft
Location: London

How long have you been at Jetcraft?

I started with Jetcraft on April Fool’s day 2019.

What are your responsibilities within the global Jetcraft team?

I work closely with two Sales Directors, one in the London office who is responsible for Northern Europe and one in Dubai who looks after the Middle East. I help them plan and execute business development strategies within their regions and also support them on any deals that they are currently working on.

Describe a typical day or week in your role.

I’m lucky that I can either cycle or get the tube to work. The cycle takes me through Hyde Park and if I get the Tube I can walk the last bit through Green Park. Either way I get a fix of open green space before I head to the office. Emails are always checked and if there is anything urgent I‘ll get to that. If it’s not holding up a deal, I prefer to focus on the proactive business development tasks. It’s a balancing act. I could be valuing an aircraft one minute to setting up meetings in another country the next, then out reviewing a prospective aircraft that has just surfaced that week.

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At Jetcraft, we’re fortunate to have the opportunity to spend a week together as a family each summer at our annual staff retreat. The global team gathers, along with their partners/spouses, to spend time with colleagues and to celebrate what we’ve done over the past 12 months. Jetcraft Chairman Jahid Fazal-Karim shares why bringing everyone together is important to him and the company. “It’s about building a true family where everybody understands how hard we work, but at the same time that we are all together to achieve a big common goal which is a goal for the employees but also the people that they share their lives with.”

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Product Overview

The Global Express XRS is an improved version of the Global Express aircraft, offering higher cruise speed, increased range, and improved cabin layout and lighting. The range increase is achieved by the addition of a 1,486 lb. (674 kg.) fuel tank at the wing root.

As of June 2019, 60% of Global Express XRS aircraft were purchased pre-owned by their current owner, the other 40% new. 10.7% are for sale with the majority of those (88%) under an exclusive broker agreement. When for sale the average time on the market is 191 days.

Brief History

The Global Express XRS was the third business jet aircraft model built by Bombardier to compete in the ultra-long range large-cabin market. It is reported that the letters have no significance but were chosen simply to improve the brand image. The Global Express XRS entered into service in 2004 and production was stopped in 2012. A total of 163 Global Express XRS business jets were built with 2 still at the manufacturer and 2 retired.

Worldwide Appeal

There are 159 Global Express XRS business jets in operation today. Most of these are wholly owned (157) with one in shared ownership and one in fractional ownership. 7% are currently leased. North America has the largest percentage of wholly owned Global Express XRS aircraft (44%), followed by Europe (28%), and Asia (15%).

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Rodger Renaud, President / COO, West Star Aviation

How long have you been at your current organization?

I started at West Star in April of 2012.

What are your responsibilities within your organization?

President and COO – mostly business development, operations and strategy. I have a hand in everything – an overarching vison for everything to come together. There is always a master plan in mind and it takes a lot of coordination with the executive team to pull it off.

Describe a typical day or week in your role.

I start every day by walking the floor. I ask questions, check in on people, address concerns, or just stop by and ask, “How is your day?” What I learn from that every day is a great indicator of how things are going, and I really enjoy the hangar camaraderie.

I’m on email all day long. It’s time consuming, but I believe being responsive is key to not only being effective, but also to buidling genuine and valuable communication. It’s the same with phone calls from customers where it’s anything from sharing intel, reviewing customer feedback on projects, or just staying in touch.

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Product Overview

The Cessna Citation Sovereign+ is the successor to the Citation Sovereign model. The Sovereign+ features upgraded engines, which provide a longer range, and winglets as a standard offering versus an option on the original Sovereign. The Sovereign+ also has improved take-off and landing capability and the addition of the Garmin G5000 avionics. The range is the strongest feature of both the Sovereign and Sovereign+ with Coast-to-Coast capabilities and the ability to take-off and land at short distances thanks to a moderately swept high-aspect ratio wing.

As of March 2019, 24% of Citation Sovereign+ aircraft were purchased pre-owned, the other 76% new. 7% are for sale with more than half of those (83%) under an exclusive broker agreement. When for sale the average time on the market is 98 days.

Brief History

Production of the Citation Sovereign ended in 2013 and was replaced by the improved Sovereign+. The Sovereign+ was initially announced at the October 2012 NBAA, it first flew in April 2013 and was certified in December 2013. A total of 84 Sovereign+ business jets have been built.

Worldwide Appeal

There are 84 Citation Sovereign+ business jets in operation today and all are wholly owned. 8.3% are currently leased. North America has the largest percentage of Sovereign+ aircraft (83%), followed by Europe (9%) and South America (7%).

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