This will be the twelfth year Global Jet has supported EBACE and will be exhibiting once again at booth Z98 - HALL 6 - Palexpo Geneva.
After five months of a successful start to 2023, Global Jet can already draw-up a positive statement for the months to come. Stronger than ever, the European Leader in Business Aviation continues to grow in each of its core businesses: Aircraft Management, Charter & Brokerage, Aircraft Sales & Acquisitions and Design & Completion.
Furthermore, Global Jet continues to innovate to ensure the highest levels of safety, quality, and services for their customers by developing new systems and procedures in order to be at the cutting edge of technology.
Charter & Brokerage
Since EBACE 2022, Global Jet saw its charter fleet grow at an exponential rate with the addition of a brand-new state-of-the-art Airbus ACJ319 Neo, a VVIP Boeing Business Jet BBJ1, a brand new a Gulfstream 650ER, two Global 6000’s, a Global Express XRS, a Gulfstream 550, a Falcon 7X, a Pilatus PC24 and finally a Phenom 300.
The Pilatus PC24’s main advantages are the take-off and landing capabilities. Global Jet obtained a specific approval for this aircraft to perform private and commercial flights out of its base – Andorra – La Seu d’Urgell. Flights to this airport are highly complex and require specific authorizations. ThesePilatus PC24 is one of very few jets that can operate to this airport making it a significant advantage for charter customers.
Amongst the latest addition in March 2023, Global Jet added a brand-new 2022 Airbus ACJ319 Neo, reinforcing its position in the wide-body segment.
This VVIP aircraft will also be available for selective charter customers in Europe and worldwide. It has an exquisite and personalized cabin with a configuration of 19 passengers, and the latest technology. Having just come out of Jet Aviation Basel completion center, the cabin configuration of this refined VIP private jet provides ample space and possibilities for private clients to enjoy every moment of the journey. Customers will be able to feel at home, whilst benefiting from all the new amenities on board. This wide-body aircraft is ideal for transatlantic flights and offers a range of 6000 nautical miles with a top speed of 469 knots. Additionally, Global Jet welcomed in April another brand-new Gulfstream 650ER based in Geneva. The addition of this aircraft makes Global Jet one of the largest G650 and overall Gulfstream operator’s in the world. This airplane will be commercially operated and available for charter customers, reinforcing Global Jet’s major role in the charter market.
Furthermore, Global Jet was one of the first operators to upgrade the cockpit of one of its Falcon 8X with the latest generation of avionics known as cockpit Easy IV. This modification further increased the level of safety for passengers and makes the navigation much easier for the pilots.
Global Jet’s Charter and Brokerage team also noted an increase in flight requests and bookings, which is encouraging for the rest of the year.
Global Jet also announced the opening of a commercial office in Dubai, to serve the charter requests from this region. Demand from this area has steadily grown over the years with many existing clients choosing to relocate to the UAE and the overall market size increasing.
This gives the Global Jet Charter team the opportunity to be more efficient and proactive towards this new developing region. The team will be able to satisfy the needs and desires of their customers with a local presence.
Global Jet is also assigned Denis Mironov as Charter Sales Manager at the Geneva office. Denis and his sterling reputation combined with fifteen years of experience in the business aviation, makes him the ideal candidate to take over this position and succeed in this new challenge.
Aircraft Sales & Acquisitions
A flight to quality.
Has the aircraft sales market started to slow down after a few years of frantic activity since the pandemic? Global Jet’s 23 years of buying and selling experience may confirm this trend but there is still positive news according to Global Jet, which reports that a more discerning type of buyer is emerging, armed with the post-pandemic flying experience and looking for the highest levels of quality.
The start in 2023 has been exceptionally busy even though many of Global Jet’s peers have commented that demand in certain segments has been slow and inventory levels increasing, which is certainly accurate for some aircraft types. Hardy Sohanpal, Head of Sales & Acquisition at Global Jet comments that, “In many ways, the market shift now plays to Global Jet’s core strengths since buyers are focused on quality rather than the urgency to get a deal done”. He further adds “The more advisory, informative and technical expertise role that Global Jet is renowned for, fits the needs of today’s buyers and sellers”.
ally 80% of Global Jet’s current sales portfolio, which includes a number of ‘off market’ aircraft for sale, are currently deal pending. This includes two Falcon 7X’s, a Global Express XRS and a corporate owned Gulfstream 650.
Demand for pedigree aircraft is up and “Buyer’s prefer to access aircraft from tried and trusted sources”, comments Yann Nado, Global Jet’s Business Development Director.
Market intelligence is playing an equally critical factor for buyers and sellers. In the bull markets of 2021-22, sellers were able to name their price and terms. Now it is a balance of pricing conservatively to maximize the value combined with a time limited presence on the market. Global Jet’s experience of buying and selling aircraft has honed the skill in analyzing the market and advising clients accordingly. “Having a trusted peer network to openly discuss price expectations, so that advisors can feel confident, is an important factor to a successful sale or acquisition” says Hardy Sohanpal.
The same applies for buyers. Global Jet recently acquired a virtually new Gulfstream G650ER on behalf of a buyer, where careful analysis of the technical features and overall market availability resulted in the successful delivery of a ‘stunning machine’, in the words of a satisfied new owner. Global Jet underlines that this year has seen an exceptionally high number of Acquisition and Technical Support mandates executed from buyers across the world. This practice is now becoming the norm for Global Jet since clients recognize the company’s excellent reputation and their ability to access ‘off market’ aircraft. Their insight as an operator also plays a critical part since buyers can access ‘real life’ and practical operating experience during the acquisition phase.
Global Jet emphasizes that next quarter looks positive with a steady flow of projects ranging from acquisition mandates for a Falcon 7X, a Gulfstream G550, a Global Express XRS and a Legacy 650. They also expect to launch further aircraft for sale via the closed market and to continue to steadily grow the aircraft ownership market in their usual ‘boutique’ and personalized way.
Since the beginning of 2023, five aircraft joined the aircraft management fleet and the company expects to add a further eight aircraft in the coming few months, either fully private or commercial; confirming the major role Global Jet plays in the aircraft management market. In the near future, expect the following business jets joining the Management fleet: a brand-new G700 from Gulfstream, two Global 7500 and one Global XRS from Bombardier, making Global Jet the largest Bombardier and Global 7500 operator in Europe. Additionally, the latest generation of the Praetor 600 will be added 3rd quarter as well as a Challenger 300.
With more than 35 different aircraft types in its operation, Global Jet has unique expertise in aircraft management and offers clients the highest levels of safety and quality in the industry. All of their business jets available in the fleet are operated using a unique fully transparent platform and, in the most cost-effective way, whereby owners benefit directly from negotiated fleet discount rates.
From the technical and maintenance side, Global Jet obtained last year, an internal Part 145 agreement. This is an important milestone as it allows the Operator to perform Line maintenance checks without having to move the aircraft to a maintenance center; resulting in significant financial and time savings for the owners.
Design & Completion
Global Jet’s Design & Completion team, in cooperation with AMAC Basel, is at the final delivery stage of a Boeing Business Jet Max 8 VVIP for an existing client. In parallel, they are working on the completion of a brand-new Gulfstream 700 as well as a Bombardier Global 7500.
The Design & Completion team of experts with more than twenty-three years of solid knowledge and experience is always ready to welcome new challenging projects and remains at your disposal to turn your dreams to reality.
Nothing is left to chance. Global Jet’s growth continues, 2023 is filled with new and exciting projects that will be shared during the upcoming year