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.”

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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%).

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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.

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By Dan Kilkeary, former 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.

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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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Product Overview

The Citation Excel is a growth/derivative variant of the Citation V Ultra with a shortened Citation X stand-up fuselage and a lengthened Citation V wing. The Excels upgraded engines make it faster than the V Ultra and give it a higher MGTOW and a longer range. The Cessna Citation Excel (Model 560XL) was the original version in the all new Excel series of aircraft and was designed to compete in the more traditional twin-turboprop market.

As of November 2021, 96% of all Citation Excel aircraft were purchased pre-owned by their current owners, the other 4% new. 5.6% are for sale with more than half of those (55%) under an exclusive broker agreement. When for sale the average time on the market is 144 days. 

Brief History

After being announced in October 1994 at NBAA-BACE, the first flight of a prototype Citation Excel came on February 29, 1996. The series received FAA Certification in 1998 and ended production in 2004 when it was replaced with the Citation XLS. A total of 371 Citation Excel aircraft have been produced with 356 in operation and 15 retired.

Worldwide Appeal

There are 356 Citation Excel aircraft in operation today. The majority of those (337) are wholly owned with one in fractional ownership and 18 in shared ownership. 11% are currently leased. North America has the largest percentage of wholly owned Citation Excel aircraft (83%), followed by South America (7%) and Europe at (5%).

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This new year signifies an important moment for Jetcraft as we mark our 60th anniversary. I’m incredibly proud of this milestone, one that could not have been achieved without your support.

We enter 2022 against the backdrop of a record-breaking year of results, and I would like to express my immense gratitude to you all for standing with us throughout this journey.

By gifting us your loyalty and trust over the past 60 years, we have navigated the downturns and consistently found ways to strengthen our team and global presence. Jetcraft’s family has grown into an international network situated in more than 20 locations around the world, and we have no intention of stopping here. Our team will persevere in finding ways to structure unique deals, maintaining the service you richly deserve.

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Steve Schulte, Owner/Photographer, Steve Schulte Photography, LLC.

How long have you been working with Jetcraft?

I have been doing aircraft photography for Jetcraft since 2008.

What are your responsibilities within your organization/describe what your company does for Jetcraft?

I provide visual representation of their aircraft listings, both photos and videos, for their marketing materials.

Describe a typical day or week in your role.

A typical day for me would be to complete photo edits from previous photo shoots, answer emails, schedule travel and prep equipment for upcoming shoots.  Weather and aircraft schedules also play a big part in planning.  Years ago shoots were much easier, as now we have to deal with so many new airport restrictions/regulations in that many airports now require photo permits.

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With 2021 coming to a close, the Jetcraft team wishes all of you a happy, healthy and prosperous holiday and new year. We want to thank all of our industry colleagues, customers, and friends who we were able to work with in 2021.

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