Global Jet plots course for multi-market growth by Kate Sarsfield
perceptive buyers “play to Global Jet’s core strengths,” according to the head of sales and acquisitions Hardy Sohanpal, who added they are “focused on quality rather than the urgency to get a deal done.” Deals are now pending on 80 percent of Global Jet’s sales portfolio, including some runway at Andorra-La Seu d’Urgell Airport in “off market” aircraft, the company noted. northeast Spain, where it is based. These include a couple of Falcon 7Xs, a Global Meanwhile, the company’s charter and bro- XRS, and a corporate-owned G650. Demand kerage division is performing well, with flight for “pedigree aircraft” is up, said Global Jet requests and bookings showing a healthy business development director Yann Nado, increase year-on-year. “The expectations and who noted that “buyers prefer to access airtrends for this summer look promising,” it noted. craft from tried and trusted sources.” This optimistic outlook is supported by the Market intelligence is playing an equally imminent opening of a charter sales office in critical role for buyers and sellers of preowned Dubai to serve the burgeoning Gulf region. aircraft. In the bull markets of 2021 and 2022,
Business aviation services provider Global Jet (Booth Z98) is returning to EBACE in a bullish mood, thanks to robust performance across each of its core markets. After a successful start to 2023, Geneva-headquartered Global Jet said it is “stronger than ever,” with healthy demand for its aircraft charter, management, sales and acquisitions, and design and completion businesses. Over the past year, Global Jet’s charter fleet has grown at an exponential rate, with the addition of 10 business jets, including an Airbus ACJ319neo. Added in March, this bizliner reinforces Global Jet’s strong position in the high-end business jet charter market. Outfitted by Jet Aviation Basel, the 19-passenger, 6,000-nm-range ACJ319neo provides “ample space and possibilities for private clients to enjoy every minute of the journey.” Global Jet is adding two Bombardier Global 7500s to its management fleet, one of which is undergoing Other models added to Global Jet’s charter completion at AMAC Aerospace in Basel, Switzerland. lineup over the past 12 months include a BBJ; Gulfstream G550 and G650ER; Bombardier Elsewhere, Global Jet’s aircraft sales and sellers could name their prices and terms. Now, Global Express XRS and two Global 6000s; acquisitions division is holding strong, but the Sohanpal said, it is a balance of pricing conserDassault Falcon 7X; Embraer Phenom 300; company suggests the “frantic” post-Covid vatively to maximize the value combined with a boom of overinflated price tags and sparse time-limited presence on the market. “Having and Pilatus PC-24. Global Jet said the Pilatus jet’s impressive inventories is coming to an end. But there is a trusted peer network to openly discuss price short-takeoff and landing performance is “still positive news” in this sector, it added. expectations, so these advisors can feel confimajor draw for the European charter marGlobal Jet pointed to the emergence of a dent, is an important factor in a successful sale ket. To maximize its appeal, the firm recently “more discerning type of buyer, armed with or acquisition,” he noted. obtained approval for the managed PC-24 post-pandemic flying experience and lookMeanwhile, Global Jet has added five busito operate from the 1,267-meter (4,157-foot) ing for the highest levels of quality.” These ness jets to its managed fleet since the start of the year, bringing the total to 55 aircraft. A further eight examples will be added to the managed lineup over the coming months, including a G700, two Global 7500s, Global XRS, Bombardier Challenger 300, and Embraer Praetor 600. The G700 and one of the Global 7500s are now undergoing completion at AMAC Aerospace’s Basel facility, with both projects managed and overseen by Global Jet. AMAC and Global Jet’s Pilatus PC-24 is just one of the many jets added to its fleet during the past year. With the Global are also at the final delivery stage with a BBJ Max 8. z capability of landing on shorter runways, the PC-24 is a popular choice for European trips.
14 EBACE Convention News • May 24, 2 0 2 3 • a i n o n l i n e . c o m