Sales Soaring After Jetcraft Adds ExecuJet Sales Team
After acquiring ExecuJet Aviation’s aircraft brokerage operation last year, Jetcraft has become a worldwide business-aircraft sales, acquisition and trading company with nearly $1 billion in listed aircraft and a large team of brokers spread around key global markets.
“We were a small friendly little brokerage,” said Andrew Hoy, Jetcraft senior vice president–EMEA and former ExecuJet Aircraft Trading managing director. “We started as a joint-venture then got married on the first of February”–which was when the two companies’ brokerage organizations were formally integrated. With six ExecuJet team members moving to Jetcraft, the combined brokerage now employs 20 senior sales executives and 20 sales, technical and marketing support staff based in 19 offices on six continents.
The ExecuJet team sold about 20 aircraft per year, Hoy said, and the target for the Jetcraft team is to close and deliver two aircraft per week. “We’re part of a much bigger network,” he said. “We’re not too far away [from the target] now, we’re close to that number.”
Hoy is encouraged to see sales picking up in stronger markets such as the U.S. and Europe. “Right now I see the U.S. as the strongest economy for buying business jets. The wave of confidence in the U.S. is going to come to Europe next year.” While sales in China are dropping off, he added, they are building elsewhere, such as the Middle East and Africa. “I see a very strong opportunity. People need airplanes.”
European executives, he said, are flying more and traveling worldwide to take advantage of business opportunities. “By buying the ExecuJet team, Jetcraft is in a strong position to take share in Europe next year,” he said.
Here at EBACE, Jetcraft has three aircraft available for sale on the static display, including a Gulfstream G450 and Bombardier Challenger 850. Jetcraft doesn’t specialize in only larger business jets, however. “We have PC-12s to helicopters to BBJs and ACJs,” Hoy said, “a bit of everything.” Pre-owned G550s and Global jets are proliferating because owners are trading them for new G650s and Global 6000s, he said, while adding that while older jets are getting hard to sell (especially Challenger 601s) the market for GIVs remains strong. “We closed two GIVs [a month] ago, people are still buying GIVs.”
Visitors to the Jetcraft chalet in the static display area can also try out the company’s new JetRange interactive range map, which graphically depicts typical NBAA IFR range performance for various aircraft types. Selecting the aircraft type, departure point and destination outputs a map that shows how far the chosen aircraft can fly with a typical passenger load and whether that destination is achievable. The JetRange map is also available via Jetcraft’s iPhone/iPad app, which mirrors the aircraft listings and other information on the company’s website.
Jetcraft’s Avionics Systems division pioneered the first aftermarket installation of an enhanced flight vision system (EFVS) on a business jet. The company installed Elbit-Kollsman’s AT-HUD advanced technology head-up display and EVS-II infrared camera in a Challenger 604. The EFVS received FAA supplemental type certification approval last year, allowing the EFVS-equipped 604 to descend below decision height in low-visibility conditions under the parameters of FAR 91.175. The system was installed by West Star Aviation, which was chosen by Jetcraft to be a HUD Vision Access sales and installation center. The next platforms for HUD Vision Access certification are the Challenger 605 and CRJ200, and Jetcraft is seeking candidate aircraft for these STC programs.