Wayne Starling, Executive Director, International Aircraft Dealers Association (IADA)
[email protected]

How long have you been at your current organization?

Over two years.

What are your responsibilities within your organization?

I am responsible for the day to day operations and the financial well-being of IADA, IADA Foundation, and Aircraft Exchange. My focus is to continually find ways to bring value to all our current members while recruiting new members.

Describe a typical day or week in your role.

My focus daily is to find ways to communicate more effectively with our members, answer various questions from members, and provide aid to the committees within IADA. I talk with various prospective members regarding the value of joining IADA while explaining why we require dealers to be Accredited and brokers to be Certified. Currently, I am also spending time talking with various publications providing updates on IADA, and what we are doing during these unusual times.

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It’s easy to forget we haven’t always had technology at our fingertips. Over the past 20 years, digital innovations have revolutionized our social lives, work habits and learning abilities in a way we could never have imagined.

When mobile phones and the internet were first introduced, they were privileged items to have in your home. According to a census taken in the US, only 51% of households had a computer in the year 2000. Today, it’s hard to imagine a world without one. How else could we talk to family members who live in other countries, complete business deals in different time zones, or facilitate cross-border transactions?

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Ryan Petersen, Director of Sales Engineering
Location: Minneapolis, MN, US

How long have you been at Jetcraft?

About 2 and a half years. I was originally a Sales Engineer working with a few different Sales Directors and now have shifted to the Director of Sales Engineering.

What are your responsibilities within the global Jetcraft team?

I work with the sales engineering team on how they interact with and support their sales directors. Functions include market summaries, research, valuations, training and helping with the marketing of aircraft.

Describe a typical day or week in your role.

It can start early in the morning as the Sales Engineering team and offices are in multiple time zones around the world including the United States, Hong Kong and Europe. I typically start by checking emails to get caught up on activities and tasks and move into project-based work later in the day. When I became the Director of Sales Engineering, my role shifted from supporting Sales Directors to supporting the sales engineering team and making sure they have the tools that they need to do their job.

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Product Overview

The Embraer Legacy 600 is a business jet derivative of the Embraer ERJ 145 family of commercial regional jet aircraft. The Legacy 600 is considered a “Super Midsize” category aircraft offering a three-zone cabin, a large aft lavatory with two windows and a 240 cu ft aft baggage compartment.

As of December 2019, 71% of Legacy 600 aircraft were purchased pre-owned by their current owner, the other 29% new. 8.6% are for sale with the majority of those (93%) under an exclusive broker agreement. When for sale the average time on the market is 370 days.

Brief History

The Legacy 600 was first introduced in 2000 at the Farnborough Airshow. JAA certification came in August 2002 and FAA certification followed soon after. The model was originally announced as the “Legacy 2000” and the model name “Legacy 600” was not adopted until 2005. Production ended in 2015 with a total of 175 Legacy 600 aircraft built. One has retired.

Worldwide Appeal

There are 174 Legacy 600 business jets in operation today. Most of these are wholly owned (168) with 6 in shared ownership. 8% are currently leased. Europe has the largest percentage of wholly owned Legacy 600 aircraft (31%), followed by North America (30%) and Asia (22%).

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Coronavirus (COVID-19) has brought much uncertainty to the world and, unfortunately, the future is still unclear. On behalf of the Jetcraft team, I want to personally reassure you that we are in a strong position to remain open for business and we are ready to transact. Moreover, our team is available to help you navigate your important aircraft-related decisions during this period. Here are some of the most popular questions we’ve recently been answering for our clients.

Should I consider an aircraft purchase now?

If you are in the position to do so, absolutely.  While these are challenging times, we encourage those who can to take a long-term view and consider aircraft purchases or upgrades to meet their needs.  However, it’s important to understand how to maximize your benefits and navigate the current market.

Good quality inventory is becoming available, interest rates are low and bonus depreciation still applies, so there is plenty to take advantage of if this is an option open to you. At Jetcraft, we are well-versed on how to leverage the current market to negotiate the best deal for our buyers.

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Jetcraft, the global leader in business jet sales and acquisitions, is reporting strong activity at the beginning of 2020 as owners seek faster upgrades to new or longer-range models.

This activity can be attributed to the start of the Bombardier Global 7500 resale market, increased trade-in transactions to the company’s owned and listed inventory, and the ability to capitalize on both high and low performing regions through Jetcraft’s global reach.

Chad Anderson, President at Jetcraft, says: “The speed with which buyers are upgrading is unprecedented, with average ownership cycles now taking 4-5 years, down from the previous 7-10 years.”

Anderson cites the start of the Bombardier Global 7500 resale market as a key source of activity.  “The Global 7500 resale market has begun and energy around the product is building.  We sold one of the world’s first pre-owned 7500 jets at the end of 2019 and closed a second one this past February. We have other 7500 options coming soon, and the more units Bombardier delivers, the more acceptance this flagship seems to receive.”

As one of few companies with the ability to take in aircraft trades, Jetcraft is seeing a surge in trade-in activity right now.

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The outbreak of coronavirus continues to evolve, along with the travel advice, and restrictions have been placed on all aspects of flight, including business aviation which are being updated almost daily.

This is déjà vu for me as I recall only too well the outbreak of SARS in 2002/2003 and the devastation this brought, especially to Asia. The difference today is, unlike 17 years ago, China was less integrated into the world’s economy. As such, the impacts were far more regional, and Asia was hit hard economically. Today, the world is a different place. China is the second largest economy having grown many times since 2002, supply chains are being impacted and travel is far more restricted than before. Millions more Chinese travel externally, so tourism and the hospitality industries will feel a huge impact.

In terms of aircraft manufacturing, Boeing, Airbus and engine maker Safran have all confirmed disruption due to factory and assembly line closures and travel restrictions. For the service facilities in China the work has slowed significantly, but the China owned/based fleet was in a slight decline mode before this factor emerged. It’s hard to say what the long-term impact will be as it’s simply too early.

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2019 was a strong year for business aviation, with private jet deliveries at their highest level in a decade, as the General Aviation Manufacturers Association (GAMA) reported this week. Aircraft deliveries increased in value by 10%, up to $26.8bn in 2019, compared to $24.3bn in 2018.

Growth by manufacturers is needed by the pre-owned market as buyers continue to trade up to newer models, so the 2019 results are extremely encouraging – particularly for long-range aircraft manufacturers such as Gulfstream, Bombardier and Dassault. As owners upgrade, they release relatively young pre-owned jets onto the market, creating value alternatives for buyers who can or will consider pre-owned options.

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Product Overview

The Cessna Citation CJ2 (Model 525A) is an upgrade of model 525 (CJ/CJ1/M2) including a stretched cabin and wingspan along with increased range and payload capacity. The CJ2 can be single pilot operated.

As of December 2019, 91% of Citation CJ2 aircraft were purchased pre-owned by their current owner, the other 9% new. 12.3% are for sale with the majority of those (79%) under an exclusive broker agreement. When for sale the average time on the market is 319 days.

Brief History

The first delivery of the Cessna Citation CJ2 occurred in 2000 and the series ended production in 2006. A total of 243 Citation CJ2 aircraft were built with 7 retired. The CJ2+ was the follow-on aircraft that started production in 2005 and ended in 2016.

Worldwide Appeal

There are 236 Citation CJ2 business jets in operation today. Most of these are wholly owned (224) with 12 in shared ownership. 11 are currently leased. North America has the largest percentage of wholly owned Citation CJ2 aircraft (69%), followed by Europe (20%).

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