NAFA member, Jahid Fazal-Karim, owner of Jetcraft, answers your questions about private jets.
With more than 20 offices worldwide and 55 years of experience Jetcraft is one of the true leaders in private aviation. With new jet share companies disrupting the market - creating an Uber-like marketplace in the elite world of private travel, Jetcraft continues to offer its experience and expertise to that top percent looking to purchase a private plane. Having accrued unparalleled industry expertise and understanding of the varied global markets in which they operate, has made Jetcraft a leader in aircraft sales, acquisitions and trades. We spoke with the company's current owner Jahid Fazal-Karim to understand the nuances behind what he does and how he's built such a successful company.
1. What does Jetcraft offer in the market that wasn't already available?
Jetcraft is the largest international buyer, seller and trader of business aircraft. Through our 55-year history, we have amassed a global presence, with more than 20 offices worldwide. Our sales directors know the local market, speak the local language and have facilitated numerous aircraft transactions in each locale. This unique global structure means we are positioned to provide regional on-the-round expertise and up-to-the-minute insight within any region, and we’re never more than a few hours away from one of our customers.
2. What is unique to Jetcraft unlike its competitors?
Jetcraft holds a unique position in the industry, situated between a traditional broker and a manufacturer. We have one of the world’s largest inventories of new and pre-owned aircraft, and we’re one of few companies with the resources to invest in owned aircraft, allowing us the ability take in trades and offer our customers a seamless transaction.
3. What advice would you give to a prospective jet buyer?
Don’t overlook the value of pre-owned aircraft. For some buyers, only a new aircraft will meet their needs. But, a pre-owned jet, especially five-years or younger, can offer a very similar product at a good value.
4. How many clients to do typically meet in a day?
At the risk of sounding clichéd, there really is no typical schedule in our line of work. I could spend time with one client or 20 depending on the day, but I do prefer to conduct face-to-face meetings as much as possible. Our connections are one of the many things that make working with Jetcraft so valuable - meeting in person and building relationships, will always be an extremely important part of our business.
5. How did Jetcraft begin? And how is the company planning to grow and innovate?
Jetcraft was founded in 1962 by Charles ‘Bucky’ Oliver, making it one of the oldest and well-established specialists. In 1987, the company began operating under the name Jetcraft, and I became co-owner in 2008. As international markets presented new opportunities for business aviation and large business jets became the preference, we grew from a primarily US-based organisation to an expanding international corporation, introducing operations in Russia, Dubai, Switzerland, Asia, Turkey, Australia, Africa and the UK.
We have facilitated hundreds of aircraft transactions, including more than 550 deals worth more than $10 billion in the last decade alone. Over the past 12 months, we’ve opened a new London HQ office and doubled the size of our European team. Looking ahead, our plan is to continue to cater exactly to the market’s demands without losing the intimate family that Jetcraft has always been and will remain to be.
We thrive on our rich history, experienced team and financial strength. But it’s our global reach that allows us to connect buyers and sellers across the world, help them find the best value and structure a seamless transaction. It’s simple in principle, but only feasible to do quickly and effectively if you have a solid network of offices and expertise in place.