Jetcraft is landing at Nice Airport’s FBO this month. Following months of high demand tempered by travel restrictions, the company is bringing its sale, acquisition and trade opportunities directly to those holidaying on the Côte d’Azur, via a kiosk in the private terminal.

The airport is a popular choice for private jet companies – charter operators such as VistaJet already have a presence there, with offerings such as a ‘Jet-to-Yacht’ package. Nice Airport typically has the second-highest level of business aviation traffic in Europe, with analysts expecting a leap in activity as intra-European travel restrictions are lifted, as seen in the UK in the past few days. The latest data from WingX shows Europe is now leading the recovery in bizav activity worldwide.

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If you want to survive and thrive in turbulent times, you need to be flexible, inventive and tenacious. The business aviation industry is no exception. It requires clever thinking to close major deals during Covid-19.

Bringing buyers and aircraft together safely for viewings during lockdown has been a challenge, but it’s hard for clients to place a deposit on a multi-million-dollar private jet they haven’t seen in person. In some cases, we’ve used high-resolution photos and video to bring the viewing experience to the customer. In others, we’ve flown the aircraft directly to the buyer’s hometown for a viewing.

I’m proud to say that Jetcraft recently facilitated the closing of a US-based Embraer Legacy 450 aircraft in a record-breaking seven days.  This is not typical, though.  Every deal is different, and whatever logistical challenges we face, they can be overcome with a little imagination. A complex European sale of a Dassault Falcon 7X, which closed on April 1, is one such example.

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Product Overview

The Gulfstream G200 (formerly known as the Galaxy 1126) is a super-midsize medium-range twin-turbofan corporate jet.

As of May 2020, 84% of Gulfstream G200 aircraft were purchased pre-owned by their current owner, the other 16% new. 11.6% are for sale with the majority of those (89%) under an exclusive broker agreement. When for sale the average time on the market is 224 days.

Brief History

Originally named Astra Galaxy, the G200 began as a product of Israel Aircraft Industries’ subsidiary Galaxy Aerospace Inc. Design of the Galaxy model first began in the late 1980’s. The first flight took place on December 25, 1997 and it received certification one year later from the US and Israeli aviation agencies. The Galaxy was renamed “G200” after Gulfstream Aerospace acquired Galaxy Aerospace in June 2001, 2 years after deliveries began. Production ended in 2011 with a total of 250 deliveries of which nine have been retired.

Worldwide Appeal

There are 241 Gulfstream G200 business jets in operation today. The majority of these (232) are wholly owned, with 9 in shared ownership. 6% are currently leased. North America has the largest percentage of wholly owned Gulfstream G200 aircraft (73%), followed by Europe (12%) and Asia (11%).

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Sean Johnson, CEO, F/LIST Canada

How long have you been at your current organization?

Just over 2 years

What are your responsibilities within your organization?

I am responsible for all of F/LIST Group’s activity for North America and the CEO of our Canadian facility

Describe a typical day or week in your role.

Typically it’s a balance between meeting customers, following up and ensuring they are happy with our products and services, and engaging with our people to make sure that the business is running smoothly and they have everything they need to do a great job. Lately with COVID, obviously, we have been very focused on the safety of our people, and being incredibly flexible to adapt to the changing landscape of the aviation business. In fact, one area where we pivoted quickly was in protecting aircraft surfaces against contamination. We were one of the first licensed to apply the product MicroShield 360 to aircraft interiors (https://microshield360.com/). This product kills over 99% of germs on any surface and protects for a full year against the spread of germs. Given the current climate, we felt being able to apply this was one way we could pitch in and help ensure the safety of our customers.

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Jetcraft is teaming up with the leading independent provider of maintenance support programs, Jet Support Services, Inc. (JSSI), to offer customers worldwide a unique, post-purchase unscheduled maintenance program for virtually all business jet makes and models.

The six-month post-purchase program will cover engines, airframe and APU after closing on all in-service aircraft acquired through Jetcraft.

Chad Anderson, president at Jetcraft, says: “What we are offering is peace of mind for aircraft buyers. Owners can feel confident in their new aircraft because, with this program, we are standing by the quality of the products in our inventory. Sellers who list with Jetcraft will also have an additional feature, which cannot be offered by any other dealer, to use in the marketing of their aircraft.

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This year, everything changed. But that hasn’t stopped our global team supporting you at every step, wherever you are. We’re providing you with the expertise you value from Jetcraft. And we’re expanding our offerings to bring you new opportunities. So, when the world can take off again, you’ll be ready.

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Patrick Stewart, former Corporate Accountant
Location: Raleigh, NC, US

How long have you been at Jetcraft?

I have been working on the accounting team at Jetcraft for 3 and a half years.

What are your responsibilities within the global Jetcraft team?

I work with the finance and administrative teams directly and help support our Controller for any special projects needed.  Functions include reconciliations, data analysis work, supporting with the monthly financial close and also assisting outside auditors with semi-annual and annual audits.

Describe a typical day or week in your role.

Most days start off by checking emails and seeing if anything urgent needs taken care of first.  If we are closer towards the end of the month my focus will be more geared towards our monthly close process, and ensuring our financials are readily available a few days after we start the new month.  Upon closing the month, reconciliations and different budgets will need to be updated accordingly.  I also review and support our accounts payable team on payments that may be needed or paid within that month.

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Product Overview

The Legacy 450 is a mid-size business jet, filling the gap between Embraer’s smaller Phenom aircraft and the larger Legacy 500 and 650 models. The Legacy 450 has a shorter cabin length (24ft vs. 27.5ft) and a smaller cabin volume (705cu. ft. vs. 823cu. ft.) than the Legacy 500.

As of February 2020, 14% of Legacy 450 aircraft were purchased pre-owned by their current owner, the other 86% new. 3.4% are for sale with all of those under an exclusive broker agreement. When for sale the average time on the market is 102 days.

Brief History

The Legacy 500 and Legacy 450 were announced by Embraer in April 2008. Both models were to be the first of their size with a flat-floor stand-up cabin and fly-by-wire. The Legacy 450’s first flight occurred in December 2013. Brazilian certification and FAA certification came in August 2015 with the first delivery following on 22 December 2015. Embraer increased the range of the Legacy 450 shortly after the first delivery, with a retrofit kit now available for the early build aircraft.

Worldwide Appeal

There are 59 Legacy 450 business jets in operation today. The majority of these are wholly owned (35), with 3 in shared ownership and 21 in fractional ownership. 9 are currently leased with 8 of those leased by fractional provider Flexjet. North America has the largest percentage of wholly owned Legacy 450 aircraft (83%), followed by Europe (14%). FlexJet – US has the largest fleet of Legacy 450 aircraft (22).

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I’ll come right out and say it: I love airplanes, I love flying, and I love the business of business aviation. The combination of short-field landing capabilities, range and speed make private aircraft a perfect corporate tool. But something that’s often overlooked is how business aviation has an exceptionally broad range of utilizations, particularly in times of crisis, supporting air ambulance, cargo, and governmental missions.

Many industries have done an excellent job pivoting to meet the demands of the Covid-19 pandemic – distilleries making hand sanitizer, fashion brands stitching surgical masks and car manufacturers producing ventilators.  At Jetcraft, we are proud and privileged to be part of a sector that was ready to act when needed.

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