Winning Big – Business Aviation Voice
Not all business aviation players are finding themselves equally challenged in what otherwise is a difficult operating climate. In fact, some are downright flush with success amid relatively high inventories of pre-owned aircraft, weak aircraft valuations and soft demand in most major geographic markets.
A case in point is Van Nuys, Calif.-based Jet Edge, which operates and brokers sales and acquisitions of business jets. The company also helps owners defray the cost of ownership by leasing their jets for charter flights when the aircraft are not in service. Jet Edge’s business model is built strictly around long-range, large-cabin aircraft. Bombardier, Dassault and Gulfstream jets are all part of its managed fleet, which has grown from just four aircraft under management to more than 50 in less than five years, with an equally dramatic growth in revenues.
President and CEO Bill Papariella credits the rapid growth to the work ethic and entrepreneurial spirit of Jet Edge’s senior management team, but he concedes that Jet Edge also has been able to leverage market conditions to its advantage.
“The free fall in values when these airplanes come off the production line has never been greater,” he said. “It’s hard to justify purchasing a new G550 or Global 6000 when you can buy one that has a relatively small number of cycles and virtually the same capability, often for half the price or less.”
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