With more than 30 offices worldwide, Jetcraft has the edge in negotiating global aircraft sales. Cross border transactions require a dedicated team to navigate the complexities of differing legal systems and language barriers. That’s why our in-house experts work with local counsel to confirm a timely closing, finding creative solutions when challenges arise. Throughout, protecting the interests of our clients and ensuring a fair transaction is paramount.

In this video, Gemma Downs, Corporate Counsel for Jetcraft in EMEA, shares her insights on the legalities of transacting and how buyers and sellers can avoid a deal falling through.

How do you solve the legal complexity of cross border transactions?

In order to overcome the logistical challenges when you have a buyer in one region and a seller in another, the Jetcraft legal team employ local counsel to ensure that we are available in the designated time zone when each party to the transaction is online and awake.

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Derek Long, Sales Director Mid Atlantic U.S, Jetcraft
Location: Georgia, U.S

Describe a typical day or week in your role.

A typical day for me would be reaching out to clients to give any updates surrounding acquisitions or listings that we have going on, reaching out to referral sources, as well as, reviewing the overall market to make sure we’re on top of any new changes.

Tell us what you enjoy most about your role.

The thing that excites me about the role that I am in is twofold. One, the people that we meet on a daily basis. It’s really the movers and shakers of the world. And of course, the aircraft. Beautiful machines with amazing technology.

Describe what you are most proud of in your professional journey.

The thing that I enjoy most about when I look back at my professional journey is, regardless of where you start in life, if you have hard work and determination, you can get where you want to be.

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Aviation in Latin America is experiencing significant change, with the Federal Aviation Administration (FAA) projecting robust 4.5% growth per year over the next decade. For business aviation, Ultra High Net Worth Individuals are also a rising force, with Jetcraft’s latest Market Forecast finding 14.3% of its buyers aged under 45 are from the region, a reflection of increasing wealth.

Meeting the needs of executives, entrepreneurs and communities which are significantly underserved by commercial airlines, business aviation fills a void in Central and South America that no other form of transport can.

Infrastructure gaps

Of Brazil’s 5,500 municipalities, only about 130 are covered by commercial aviation routes (ALTA). This snapshot of an acute necessity for connectivity is replicated across the continent.

With commercial flight options limited, and travel times by boat or train often rolling into days, business aviation’s flexibility and efficiency is fueling its demand across the region. Time-pressured executives conducting operations beyond borders also prefer the privacy and convenience offered by a business aviation terminal, where long queues and scheduled flight times don’t exist.

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Chris Holligsworth, Sales Director, South Central U.S., Jetcraft
Location: Texas, U.S.

Describe a typical day or week in your role.

There is no typical day. There are constant changes in what we do for our clients depending on what they ask us to find for them. What we do is source and sell aircraft for people, and as information changes on a daily basis, we are constantly looking for the most up to date data to deliver to our clients.

Tell us what you enjoy most about your role.

The thing I most enjoy about my role at Jetcraft, is delivering on client’s expectations and exceeding them.

Describe what you are most proud of in your professional journey.

I’m most proud of being part of a company that aligns with my personal goals. Since we all have the same goals and ambitions, it feels great to be a part of a group like that.

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Product Overview

The Global 5000 is an ultra-long range, wide-body business jet with the advantage of having short take-off and landing performance. The cabin is divided into three zones with optional rear stateroom, and features a large galley, forward and aft lavatories, and a generously sized baggage compartment. Overall, it offers comfort, flexibility, and innovation.

As of July 2024, 71% of the Global 5000 ownership comes from the pre-owned market, the other 29% from new. 23% of those are currently for sale, with almost half (47.83%) under an exclusive brokerage agreement. For those on the market, the average sale time is 213 days.

Brief History

The Global 5000 is a slightly smaller and faster derivative of the Global Express, which was the second ultra long-range large-cabin business jet produced and started delivering to customers in 1997. The Global 5000 made its maiden flight in March 2003 with FAA and JAA type certification awarded in October 2004. In 2008 Bombardier announced an increased certified gross weight, which permitted increased fuel load and an increased projected maximum range.

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Samantha Parkhouse, Sales Manager, Northern Europe, Jetcraft
Location: London, UK

Describe a typical day or week in your role.

No day is the same but my responsibilities include bringing in new leads and nurturing existing leads for opportunities to bring in new deals.

Tell us what you enjoy most about your role.

What I love most about my role is being emersed in the world of aircraft. I’ve always been very passionate about flying and aviation throughout my career, so just being around the aircraft on a daily basis, talking about the aircraft, marketing the aircraft and selling the aircraft.  I also love meeting new people, networking and discussing new opportunities with them.

Describe what you are most proud of in your professional journey.

I think so far, I am most proud of my development and where I have come at this stage. From getting my PPL at age 21, to having done marketing for Jetcraft and now in sales for Jetcraft. Transitioning through different areas around aviation but learning as I go.

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Product Overview

The Learjet 40XR is an upgraded version of the Learjet 40 with improvements in hot-and-high performance, climb rates and faster long range cruise speeds resulting in a range of more than 240 nm. The increases are due to the upgraded Honeywell “BR” engines from the “AR” used on the Learjet 40.

As of May 2024, 62% of Learjet 40XR aircraft ownership comes from the pre-owned market, the other 38% new. 7.37% are currently for sale, with the majority (85.7%) under an exclusive broker agreement. For those on the market, the average sale time is 144 days.

Brief History

Derived from the Lear 45, the Learjet 40 and 40XR are 24.5 inches shorter and have a maximum take-off weight that is 150 lbs. lighter. These two characteristics increase performance and lower operational costs. The Lear 40 aircraft received FAA certification in July 2003, as an amendment to the Type Certification of the Lear 45 and ended production in 2009. The Learjet 40XR went into operation in 2005 and ended production in 2012.

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When boarding a domestic flight in the United States, it’s easy to see that air travel in the country is thriving – global air travel. Airlines in the US and Canada were the first in the world to return to post-pandemic profitability in 2022 and have done a phenomenal job of matching capacity to demand. Looking ahead, the forecast is bright as carriers in the region are expected to post a net profit of $14.4 billion in 2024 (IATA).

While debates range on whether so-called ‘revenge travel’ is over, for IATA, North America remains “the standout region in terms of financial performance.” Its latest forecast states demand in Revenue per Passenger Kilometer (RPK) was 16% higher in 2023 compared to 2022, with a 6.3% year-on-year rise in March 2024.

Amid such a thriving environment, the region is poised to not only profit from revived travel demand but to also serve as a source of aircraft for other regional airlines.

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During the height of the pandemic, inventory levels for business aircraft dropped to a record low of 3%. Buyers were less demanding, it was easy to find a buyer close to home, and many aircraft were sold before they hit the market.

With demand at an all-time high, selling a listing was more straightforward, especially as many sellers delayed large maintenance projects and internal refurbishments to capitalize on a dynamic market.

Now the market is returning to normal, it’s important that sellers understand the benefits of properly readying their aircraft for sale to maximize its value.

Previously, buyers were willing to invest in the business jet they wanted, even if it was due for maintenance or refurbishment. Today’s buyers expect aircraft to be well maintained and in the early part of their maintenance. Sellers should stay ahead of maintenance requirements to ensure their aircraft’s readiness for a buyer or be prepared to lower their price.

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