Denise Siedow, Market Analyst, Jetcraft
Location: Minneapolis, MN, US

How long have you been at Jetcraft?

I have been with Jetcraft since October 2008, so nearly 10 years.

What are your responsibilities within the global Jetcraft team?

My first position with Jetcraft was an administrative role. I’ve carried responsibilities from that position into my current role as Market Researcher. I also provide support to my sales team by facilitating maintenance program transfers and offering general program support.

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By 2026, Asia is predicted to be tied with North America in terms of ultra-high-net-worth-individual (UHNWI) population, as shown in The Wealth Report by Knight Frank, cited in our 10 Year Market Forecast. As more individuals are buying private aircraft in Asia, an increase in the UHNWI population could cause a boost in demand for the region.

Asia’s promising position in the global business aviation industry has never been more evident than at the 2018 Asian Business Aviation Conference & Exhibition (ABACE). OEMs, operators and industry leaders were abuzz with the opportunities that Asia presents, speaking of new infrastructure, a better attitude towards business aviation and a steadily maturing market.

Overtaking Europe

Jetcraft is no exception when it comes to optimism about the region. Backed by our consistently healthy sales, we have determined that Asia-Pacific is one of the world’s fastest growing markets, accounting for approximately 15% of Jetcraft’s transactions in 2017. This trend has continued into Q1 of 2018, setting a positive projection for the rest of the year.

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Dennis Bolton, SVP – Head of Equipment Management, Wells Fargo Equipment Finance

How long have you been at your current organization?

I have been with Wells Fargo since August 2005 by way of merger with Wachovia. Prior to 2005, I spent 16 years at Fleet Capital and later Banc of America Leasing, which merged in 2003. I just started my 29^th year in the business.

What are your responsibilities within your organization?

As Head of Equipment Management, I am responsible for all facets of equipment appraisal/valuation, portfolio management and equipment remarketing across all of Wells Fargo Equipment Finance’s business lines. Additionally, my group helps support our colleagues in these areas across the entire bank footprint.

Describe a typical day or week in your role.

My days usually start early sometime between 5 and 6:30 a.m. depending on the day. The first couple of hours are quiet and dedicated to strategic initiatives, focused, intense projects and general catch-up. Once the day begins, it’s a series of meetings and calls around business strategy and new business initiatives, portfolio performance, compliance and regulatory requirements, pending accounting and policy changes, integration projects and assisting my teams achieve their goals and problem solve.

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Product Overview

The Cessna Citation X, a medium-sized long-range business jet, marked the launch of the all-new 750 series, taking over the well established 650 series. It was considered a completely new aircraft, made from scratch in all major aspects and not an upgraded version of previous Citation Jet aircraft.

As of February 2018, 75% of Citation X aircraft were purchased pre-owned by their current owners, the other 25% new. 10.4% are for sale with more than half of those (69%) under an exclusive broker agreement. When for sale, the average time on the market is 373 days.

Brief History

The Citation X was announced at the NBAA Convention in October 1990 with the first prototype taking flight in December 1993. The first delivery of the Citation X occurred in July 1996 to golfer and devoted Cessna customer, Arnold Palmer. A total of 315 Citation X aircraft have been manufactured with 309 currently in operation worldwide. An updated version called the New Citation X+ was launched in 2010 featuring upgraded engines and advanced avionics systems. Deliveries of the new Citation X+ started in 2013 and there are currently 27 in operation worldwide.

Worldwide Appeal

There are 309 Citation X aircraft in operation today. Most of these are wholly owned (276), with 26 in fractional and 7 in shared ownership. 11% are currently leased. North America has the largest percentage of wholly owned Citation X aircraft (88%), followed by Europe (5%).

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The general aviation community in the U.S. is abuzz with discussions of ADS-B and the 2020 deadline. As the mandate draws near, what do you need to know?

First, many aircraft need to be upgraded in order to comply, so it is recommended that flight departments schedule the upgrades now in order to be sure that everything is completed in time to remain compliant. It is estimated that there are 105,000* aircraft that are not yet equipped, so the maintenance shops will soon become overwhelmed.

Next, be sure to make an appointment with a trusted service center that can help figure out what needs to be installed or upgraded, and can complete it in a reliable and timely manner. It is advised that operators check that their ADS-B Out solution is Version 2, particularly early-equipped aircraft that were installed with Version 0 or 1 systems. Complicating the issue is that Version 2 is not currently required for operations in all international regions of airspace, so it is possible that an...

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Product Overview

The Challenger 605 was introduced as an upgrade to the Challenger 604. With the success of the Challenger line, Bombardier continues to use the general design while offering updated technology and improvements. The 605 offers larger and higher positioned windows, an upgraded galley, a revamped cabin and cockpit, and upgraded avionics, along with an increased payload.

As of September 2017, 42% of the Challenger 605 aircraft were purchased pre-owned by their current owners, the other 58% new. 6.3% are for sale with the majority of those (89%) under an exclusive broker agreement. When for sale, the average time on the market is 251 days.

Brief History

Bombardier introduced its Challenger 604 in 1995 as a major upgrade on the Challenger 601 design that incorporated more powerful engines, larger fuel supply, a completely new undercarriage, structural improvements to its wings and tail and a new avionics system. Ten years later the Challenger 605 was introduced with upgrades to the 604 design. Production ended in 2016 with a total of 290 Challenger 605 aircraft manufactured.

Worldwide Appeal

There are 287 Challenger 605 aircraft in operation today. Most of these are wholly owned (281) with 3 in shared and 3 in fractional ownership. 9.4% are currently leased. North America has the largest percentage of wholly owned Challenger 605 aircraft (58%), followed by Asia (21%), and Europe (17%).

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Brian McCarthy, former Sales Engineer, Jetcraft
Location: New York, NY, US

How long have you been at Jetcraft?

I have been with Jetcraft since September 2015.

Why did working in the Business Aviation industry interest you?

After graduation from college I went into the Financial Services industry. While working at my previous company, I was put on several Business Aviation M&A projects and I caught the “business aviation bug”. I then decided to spend all of my vacation days and my savings traveling to the business aviation shows where I was fortunate enough to build a strong relationship with Jetcraft. I left my job and took an internship with the company in September 2015 and I started working full-time in January 2016 in Minneapolis, MN, US.

What are your responsibilities within the global Jetcraft team?

On the sales side, I support Dan Kilkeary in the North East United States. I also work on the company’s market research / annual forecast, and valuation of aircraft. A lot of our research and valuation work ties into our deal plans for our acquisition of aircraft for owned inventory and trades.

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Insight abounded at the recent Corporate Jet Investor conference in London, with representatives from across business aviation coming together to share their observations on the industry.

Opening the first day of the conference, Jetcraft’s president Chad Anderson set out a confident forecast for the next ten years, hailing it as ‘a new beginning’ for the industry.

“We’re entering 2018 looking at the glass half full,” he announced. “Based on our forecast, I’d say buyer confidence is going to maintain well into a new business cycle – and the optimism should remain until 2024 or 2025.”

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Daniel Renwick, Sales Director – Jetcraft Australia and New Zealand
Location: Gold Coast, Australia

How long have you been at Jetcraft?

I started with Jetcraft in January 2017, with my first introduction to the Sales and Sales Engineering teams at the annual Jetcraft team meeting in New York.

What are your responsibilities within the global Jetcraft team?

I am a Sales Director for the Australia and New Zealand region, and as such, my responsibilities include developing relationships with new and existing customers and assisting them with all aspects of acquisition or sale of the aircraft from the beginning all the way up to closing and beyond.

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