buying an aircraft

There are several basic things to know before buying an aircraft, and some less obvious areas too. Having asked the experts to highlight some of these in his previous article, Chris Kjelgaard continues with another five...

After establishing the need for aircraft buyers to pick the right broker, add the right experts to the acquisition team, set and maintain an adequate transaction timeline and meet the financier’s documentation needs, there are other things that should be known before proceeding to buy a business jet.

Did you miss Part 1 of this article? Find it here.

Duncan Aviation’s Sales and Acquisition Specialists Tim Barber and Leah Alexander, and OGARAJETS’ Head of Global Sales, Dustin Cordier share some more things buyers should be clear about...

1. Insist on a PPI and a Full Aircraft Logbook Review

During the height of the post-Covid sales boom, many first-time business aircraft buyers accepted sale terms which did not allow for any pre-purchase inspection of the aircraft and its maintenance records to be performed.

However, every responsible broker and aircraft technical inspector would never recommend that a buyer allow a seller to dictate this. If allowed, it effectively means the buyer is agreeing to buy an aircraft sight unseen without any knowledge of the aircraft’s condition.

At the very least, the buyer should insist that the technical inspector representing them in the purchase negotiations be given full access to the aircraft’s logbook, says Cordier.

The logbook contains the aircraft’s full maintenance history because it should contain full details of each fault found, repair performed and overhaul conducted on the aircraft, including – for US-registered aircraft – a copy of every FAA Form 337 recording major damage and repair.

For the seller to offer the buyer access only to the maintenance tracking software record for the aircraft is not sufficient. “Using maintenance tracking software for that review is like watching a movie version of the book,” Cordier says.

Read full article here

This article was originally published by AvBuyer's Chris Kjelgaard on April 23, 2024.

Financing is a complex area for aircraft owners to navigate. Beyond the interest rate involved, how can you tell if you’ve got a good deal that’s fair to both parties? Gerrard Cowan asks aviation finance experts for their tips.

Aviation lending is considered a specialty in the banking industry. And, since not all banks offer the service to their clients, loans vary in terms of how favorable they are – but they are almost always structured to mitigate risk for the lender.

“This means banks include covenants, clauses, interest rates, and terms that are favorable to the lender until the note has been repaid,” Chris Lee, President of the Aircraft Division at 1st Source Bank says.

Still, “competition in the marketplace helps to keep the general terms of many deals fairly close to one another”.

There are a range of factors that could influence a bank’s ability to offer favorable loans to individuals or businesses, Lee adds. A good bank will evaluate each aviation finance deal individually, based on many factors. Some deals are more attractive to banks than others. 

Aircraft usage is important, he says, because some aircraft loans are made for Part 135 commercial uses while others are for personal and business transport (Part 91).

On top of this, there are factors that are common for essentially any financing deal, not just aviation. For example, the applicant’s credit score will have an impact, as will income and employment history, debt-to-income ratio, loan-to-value ratio, and any collateral involved.

Read full article here

This article was originally published by AvBuyer on April 15, 2024.

Likely we have all been involved in an aircraft transaction in which a new party pops up at the last minute that has not previously been part of the transaction process or known to be involved in the transaction. These last-minute revelations can affect transaction complexity and the parties’ ability to maintain the integrity of the transaction. Since spring brings the excitement of a new baseball season, a baseball analogy seemed an appropriate title for an article about transaction integrity. Who is responsible for maintaining transaction integrity? 

Closing and funding aircraft transactions can become a hectic process, as all the parties work toward a successful conclusion often expected in a very short timeframe. While all desire a successful closing of the transaction, each party has its own motivation and interests. The seller wants to sell the aircraft and get paid, the buyer wants to acquire the aircraft, the brokers want to ensure their clients are buying/selling the aircraft at the right price, the attorneys want to make sure the loan documents are correct, the lender wants to ensure that they have a quality transaction where their lien is perfected, and the escrow agent wants to ensure that the closing process proceeds smoothly and timely.

At Huntington National Bank, we often ask, “Who owns risk?” Our standard answer is, “We all do.” It is much the same in aircraft transactions. All the parties have the responsibility to maintain the integrity of the transaction. Each party needs to understand who is involved and their role in the transaction. It’s not just the escrow agent’s responsibility to be diligent and understand the transaction parties and the flow of funds.  Everyone must do their part to ensure transaction integrity is maintained throughout the process.

To ensure transaction integrity, here are some helpful tips from a lender’s perspective:

1. Know who all the parties to the transaction are to ensure there are no surprises at closing.
2. Communicate throughout the transaction process. Don’t just assume that because you understand what is going on or who is involved that all the parties to the transaction have clarity.
3. Don’t just rely on the escrow agent to vet all the parties. While the escrow agent is expected to do appropriate due diligence to ensure transaction integrity and the proper flow of funds, all the other parties should do their own due diligence as well. The last thing anyone wants is for some surprise to pop up on the day of closing.
4. Trust, but verify. Bad actors are becoming more and more sophisticated. The more rushed you feel, the more likely a mistake will be made. Take the time to verify all aspects of the transaction.

The answer to the question “Who’s on First?” is We ALL ARE. All parties to a transaction should work together to move the process from first, to second, to third, and hopefully all the way to home and a successful closing. When all the parties communicate effectively and are diligent in their efforts, transaction integrity is made easier and helps eliminate the potential for bad actors to insert themselves into the middle of a closing. As members of NAFA, we all bear the responsibility to ensure that the integrity of aircraft transactions is maintained to protect the clients who count on our services and products.

Greg Wallis

Vice President-Portfolio Management Team Lead

Huntington National Bank

Disclaimer: The views expressed in this article are intended for informational purposes only and should not be construed or used as legal advice nor as a solicitation of any type. Readers are advised to consult with qualified legal professionals regarding their specific circumstances and legal questions and with respect to the currency of this information. The author, the author's employer and NAFA disclaim any liability for any loss or damage incurred by readers who rely on the information provided in this article.

There are several basic things to know before buying an aircraft, and some other less obvious areas too. Over a two-part article, a selection of leading brokers reveal to Chris Kjelgaard what those areas are...

Those planning to buy a business aircraft usually believe they know what kind of plane they want, how much they are prepared to pay for it, and the types of mission they mostly expect to be using the aircraft for.

Inexperienced buyers, particularly those who have never purchased a business jet before, often do not realize there are several other very important factors they must weigh up carefully before making a final decision.

Buyers should fully account for these when deciding which aircraft to buy – or indeed, if they might be better served chartering an aircraft or buying a fractional share, reputable brokers agree.

Following are some key areas to consider ahead of your acquisition that will help ensure you don’t make a purchase you later regret...

1. Pick the Right Jet Management/Brokerage Partner

Will you have your own Flight Department operate the aircraft, or will you place it with an aircraft management company who may be able to help offset some of the operating costs through charter revenue when you are not using it?

If you are planning to have an aircraft management company operate the aircraft for you, it’s important to do some due diligence as to which management company you’ll use, says Dustin Cordier, Head of Global Sales for Atlanta- based OGARAJETS.

Read full article here.

This article was originally published by AvBuyer on March 22, 2024.

There are signs that the used aircraft market has hit bottom.

Anyone who makes their profession within the business aviation industry is well aware of what happened to seemingly everything we touch relative to business aircraft as a result of the pandemic. During that time of uncertainty, everything became scarce and expensive.

Now, nearly four years later, we all can likely agree that things have loosened up for a vast majority of us who work in and around business aircraft—to a certain degree. I cannot speak to all sectors of the industry, but I can speak to the aircraft resale market. Let’s look back and also forward to see where it puts us now.

Depending on the source of the data chosen, it will show in approximate terms that the supply of for-sale preowned business aircraft was at an all-time low in early 2022, at approximately 2 percent of the fleet. It hit a high of about 6 percent four months ago and, at present, it is just off that high. What we have defined as “normal” in years past is approximately 7 to 8 percent of the fleet for sale at any given time. But it makes me wonder: is 6 percent the “new normal”?

Read full article here

This article was written by Leading Edge Aviation Solutions and originally published in Aviation International News AINsight on March 22, 2024.

FOR IMMEDIATE RELEASE: March 6, 2024 

Contact: Tracey Cheek 
tlc@nafa.aero  
405.850.1292

Joseph Dail 
Finance & Insurance Specialist 
406-FLY-1-NOW 
C: 336.380.0447 
joseph@lifestyleaviation.com 
www.lifestyleaviation.com 

 
NAFA Welcomes New Member: LifeStyle Aviation 

Edgewater, MD –  National Aircraft Finance Association (NAFA) is pleased to announce that LifeStyle Aviation has recently joined its network of aviation professionals. Lifestyle Aviation is dedicated to broadening access to aviation for individuals and businesses, offering innovative ownership and financing options that make owning a plane more affordable and attainable.  

“NAFA members facilitate the financing of general and business aviation aircraft on a global scale,” said Ed Medici, NAFA President. “We welcome and support LifeStyle Aviaiton’s services that play a role in advancing the interests of NAFA members within the aviation industry.”  

About LifeStyle Aviation: 
LifeStyle Aviation is committed to realizing the dream of flight for everyone by providing access to modern, innovative aircraft for personal and business use. Beyond aircraft sales, the company fosters a community of aviation enthusiasts passionate about flying.   

LifeStyle Aviation distinguishes itself through its specialization in the Diamond Aircraft line, known for its cutting-edge technology, safety features and efficiency. LifeStyle Aviation is also dedicated to empowering pilots through comprehensive training programs offered through its network of flight schools, ensuring pilots of all skill levels have the knowledge and confidence to take to the skies safely.  

In addition to aircraft sales and training, LifeStyle Aviation serves as a hub for aviation enthusiasts. The company hosts events, seminars and fly-ins where pilots can come together to share their passion for flights and connect with others who share their love of the sky.  

Joseph Dail, Head of the Finance and Insurance Department, plays an important role in realizing aviation dreams. He has expertise in aviation financing and insurance and ensures customers have access to flexible and affordable options for purchasing and protecting their aircraft.  

Whether seeking financing to purchase a first plane or the right insurance coverage to protect your investment, Joseph and his team guide clients through every step of the process. With a commitment to innovation, safety, and community, LifeStyle Aviation doesn’t just sell planes; it helps people discover the joy of flight and make it part of their lifestyle.  

For more information, visit lifestyleaviation.com.   

About NAFA:  
The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences, and industry insights allow member companies to provide the highest quality services the industry has to offer. 

FOR IMMEDIATE RELEASE: March 8, 2024 

Contact: Tracey Cheek  
tlc@nafa.aero  
405.850.1292

Eric Hammer 
President 
336.553.8888 
ehammer@integrityjets.com 
integrityjets.com 

NAFA Welcomes New Member: Integrity Jets    

National Aircraft Finance Association (NAFA) is pleased to announce that Integrity Jets has recently joined its network of aviation professionals. Led by industry veteran Eric Hammer, Integrity Jets is a boutique aircraft brokerage firm that provides brokerage, acquisition and market intelligence services.   

NAFA members form a network of aviation finance services who diligently and competently operate with integrity and objectivity throughout the world,” said Ed Medici, NAFA President. “We’re excited to welcome Integrity Jets to our growing organization. Their services enhance NAFA’s available offerings, and we support their services to advance our members.” 

About Integrity Jets: 
Integrity Jets connects buyers and sellers of private aircraft. The company offers comprehensive brokerage services tailored to each client’s needs.   

Integrity Jets understands that buying or selling an aircraft is a complex and time-consuming process, and engaging with Integrity Jets ensures clients experience the most stress-free, efficient and financially beneficial transaction possible. The company is committed to delivering exceptional customer service and meeting each client’s unique requirements and preferences. 

About Founder Eric Hammer:  
With 33 years in the aerospace industry, Eric Hammer recently launched Integrity Jets. For the past 22 years, he has specialized in representing buyers and sellers of business aircraft.  

Hammer’s mission is to establish Integrity Jets as a trusted, strategic and tactical partner for clients in acquiring and disposing of their business aircraft.  

Hammer’s background includes: 

• Overseeing the sale and acquisition of over 225 turbine-powered aircraft. 

• Leading pre-owned aircraft sales efforts at Embraer for nearly a decade. 

• Managing new and used Citation and Caravan sales at Cessna for eight years. 

• Serving for 11 years in NASA’s Mission Control Center in Houston as a Flight Dynamics Officer for the nation’s space program.  

• Holding a commercial, multi-engine, instrument-rated pilot certification.  

• A 20-year veteran of the Navy Reserve 

• Earning a Master’s Degree in Aerospace Engineering 

• Achieving the title of five-time Powerlifting National Champion.  

For more information, visit integrityjets.com.   

About NAFA:  
The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. 

The buyer’s and seller’s view of what a Pre-Purchase Inspection of a business aircraft should include often differs, making negotiation a sensitive matter. To simplify matters, buyers should ensure their expectations are reasonable, Chris Kjelgaard learns...

In most purchases of pre-owned business aircraft, Pre-Purchase Inspections (PPIs) are necessary and highly important initial tasks.

Performed at the buyer’s request, the PPI is carried out to assess the physical condition of the aircraft – allowing the buyer and seller to then negotiate what (if any) repair or refurbishment work is needed to satisfy the buyer’s condition expectations – and ensure the documentation of the aircraft’s maintenance and operating history is complete.

An obvious basic first step for would-be buyers is to determine what they expect the PPI to accomplish. Clearly, it should either satisfy the buyer that the aircraft is in a condition which allows them to complete the purchase, or produce findings or repair/alteration actions which the buyer can then ask the seller to undertake before the transaction is completed.

Ultimately, however, the buyer’s expectations of the PPI’s scope should be reasonable enough to prevent the seller balking completely, creating an unresolvable hurdle causing the deal to founder.

Setting Realistic Aircraft Pre-Purchase Inspection Expectations

While for inspection-cost and other reasons the seller and buyer may not agree on what each wants the scope of the PPI to include, their differences should be resolvable by means of agreeing to adopt the recommendations made by an independent third-party.

For example, in their pre-buy negotiations, the most common way for both seller and buyer to achieve consensus is to have the OEM or third-party MRO service center hosting (and often conducting) the PPI first to provide a recommended PPI report.

Lee Rohde, President & CEO of Essex Aviation, says the MRO facility should have a specific recommended PPI report for every different aircraft model it handles, based on the manufacturer’s own inspection and maintenance recommendations and accounting for every unique aspect of that model.

The report will also take account of the service center’s own findings on the individual aircraft’s condition, having performed its own preliminary inspection of the aircraft in question.

Read full article here

This article was originally published by AvBuyer on February 28, 2024.

FOR IMMEDIATE RELEASE: February 28, 2024 

Contact: Tracey Cheek 
tlc@nafa.aero  
405.850.1292

Jared Hasty 
Co-Founder 
770.233.7518
Sales@piedmontjets.com  
https://www.piedmontjets.com 
 

NAFA Welcomes New Member: Piedmont Jets    

National Aircraft Finance Association (NAFA) is pleased to announce that Piedmont Jets has recently joined its network of aviation professionals. Piedmont Jets is a highly specialized, boutique aircraft brokerage and acquisition firm.  

“Piedmont Jets joining NAFA is a step forward in advancing our mission to improve and facilitate the financing process to support aircraft buyers,” said Ed Medici, NAFA President. We welcome Piedmont Jets to our growing organization and enhancing opportunities for all our members.”  

About Piedmont Jets: 
Piedmont Jets leverages experience, efficiency and expertise to navigate clients through aircraft transactions. Driven by a team of experienced pilots with a love of aviation and building lasting relationships, Piedmont Jets aims to make transactions simple and seamless. 

After careful analysis backed by industry-leading data, the Piedmont Jets team will source worldwide, on and off-market opportunities while managing the details of the procurement process.  

Piedmont Jets provides a roadmap so clients are informed and empowered throughout the acquisition. The Piedmont Jets team uses its tools, processes and industry relationships to ensure maximum exposure and return on clients' investments. 

For more information, visit piedmontjets.com.  

About NAFA:  
The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. 

FOR IMMEDIATE RELEASE: February 23, 2024 

Contact: Tracey Cheek   
tlc@NAFA.aero   
405.850.1292   

Scott Walter 
scottwalter@shorepremierfinance.com 
757.995.0452

NAFA Welcomes New Member: Shore Premier Finance 

The National Aircraft Finance Association (NAFA) is thrilled to welcome Shore Premier Finance, the specialty lending division of Centennial Bank focused on passion assets. With $1.2B in assets, Shore Premier Finance is one of the nation’s largest marine lenders, and they’re adding aviation finance to their portfolio. 

“NAFA members proudly finance, support or enable the financing of general and business aviation aircraft throughout the world, and we are happy to add Shore Premier Finance to our association,” said Ed Medici, President of NAFA.   

Shore Premier Finance has joined NAFA as part of their efforts to expand into aviation and perform better due diligence, and representatives from Shore Premier Finance will be attending the NAFA52 Annual Conference as part of that initiative and to connect with industry leaders. 

About Shore Premier Finance:
Since 2012, Shore has provided financing for high-end power boats, sail boats, and superyachts and inventory finance for marine dealers. In 2022, Shore began providing financing for luxury motorhomes as a complement to its marine business.  As its focus on passion assets has expanded, Shore intends to add the finance of personal and business aircraft to its offerings as well. 

To learn more about Shore Premier Finance, visit www.shorepremierfinance.com.  

About NAFA:   
The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. To add your company to our world-class network of the best in aircraft finance, sign up at https://www.nafa.aero. 

FOR IMMEDIATE RELEASE – February 23, 2024 

Contact: Tracey Cheek     
tlc@NAFA.aero     
405.850.1292     
 

John Moran 
Senior Vice President, Integrated Communications 
John.Moran2@firstcitizens.com 
212.461.5507 
 

NAFA Welcomes New Member: SVB Private 

The National Aircraft Finance Association (NAFA) is pleased to announce that SVB Private has recently joined its network of aviation professionals. SVB Private, part of First Citizens Bank and its First Citizens Wealth division, provides customized structured loans on turbine powered private aircraft to high-net-worth clients.  

“NAFA members form a network of aviation finance services who diligently and competently operate with integrity and objectivity throughout the world,” said Ed Medici, NAFA President. “We’re excited to welcome SVB Private to our growing organization. Their services enhance NAFA’s available offerings, and we support their services to advance our members.” 

About SVB Private: 
SVB Private’s team of dedicated and specialized aircraft finance lenders can help optimize aircraft investment by providing customized lending solutions. These solutions allow clients to optimize their balance sheet by redeploying the capital they have invested in the aircraft. In addition, SVB Private competitively prices and structures loans commensurate with their clients’ personal and corporate banking relationships.   

SVB Private provides a single point of contact, keeping the client fully informed throughout the loan approval and closing process. The bank leverages its deep understanding and connections within the private aircraft industry to help navigate the acquisition process, understand accounting treatments and FAA regulations, and align with other professionals to help make aircraft acquisition and ownership seamless and efficient.   

Loan products for turboprops and jets include: 

• Fixed and variable rate loans 

• Acquisition financing 

• Loan refinancing 

• Pre-delivery payment financing for new aircraft 

To learn more about SVB Private, visit https://www.svb.com/private-bank/. 

About NAFA:   
The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. To add your company to our world-class network of the best in aircraft finance, sign up at https://www.nafa.aero. 

Where aircraft financing is concerned, it is crucial for potential borrowers to plan ahead, asking the right questions before applying. Gerrard Cowan explores...

There are a range of factors to coordinate for an aircraft purchase, all of which take time. This is particularly true where aircraft finance is likely to be a factor in the acquisition, and allowing the time to ask all the right questions prior to signing a financing deal is essential.

If the process is rushed or compressed into a shorter timeframe than is standard, there are likely to be complications that will frustrate all parties involved.

Buyers should reach out to financing contacts early in the process to find the right experts for their needs, according to Ramy Sidhom, Head of PNC Aviation Finance. “Building the best team of experts has nothing but upside for the buyer now and during the life of the aircraft.”

The way you plan can either materially enhance the buyer experience or have a severely negative impact, he explains. “The financing simply becomes a lending arrangement if all parties are communicating and furnished with the accurate deal specifications.”

He underscores the importance of studying the aircraft in question, determining the potential operating expenses, maintenance plans, etc. “The total determines how much money or liquidity will be needed to close on the transaction and to operate annually.”

Timing is a factor here, too. “New contracts for most models have delivery wait times of two years or more. Does the wait time make sense, and if so, what will you do in the interim?

“If evaluating a used aircraft, it is helpful to work with the financing team early in the process so that there are no delays in closing while the financer completes their due diligence.” Identifying the usage, registration and type of loan you are looking for upfront will ensure you are working with the right lender with the right type of financing, according to Brian Macbean, Director of Credit and Sales at AOPA Finance.

“All lenders have different requirements. If you change one of those factors mid-process, you risk losing the financing altogether.”

Read full article here

This article was originally published by AvBuyer on February 14, 2024.

FOR IMMEDIATE RELEASE: February 7, 2024    

Contact: Tracey Cheek  
tlc@NAFA.aero  
405.850.1292  
 

Kelly Wolff
sales@jetAVIVA.com
Mobile:  321.258.5057
Office:  512.410.0295

NAFA Welcomes New Member: jetAVIVA

The National Aircraft Finance Association (NAFA) is thrilled to welcome jetAVIVA, a global leader in pre-owned aircraft sales and acquisitions, to its esteemed network of aviation professionals. As one of the world's largest private jet sales organizations, measured by total annual transaction volume, jetAVIVA brings a wealth of experience and expertise to the NAFA community. 

“NAFA members form a network of aviation finance services who diligently and competently operate with integrity and objectivity throughout the world,” said Ed Medici, NAFA President. “We’re excited to welcome jetAVIVA to our growing organization. Their services enhance NAFA’s available offerings, and we support their services to advance our members.” 

About jetAVIVA: 
For almost 20 years, jetAVIVA’s expert team has assisted thousands of clients in purchasing and selling aircraft, providing expertise in the aviation industry to streamline transactions and ensure a smooth and successful process. jetAVIVA's specialized services can enhance transaction outcomes for NAFA members and their clients, making them a valuable partner in any deal. Additionally, jetAVIVA keeps a pulse on the state of the aviation market, providing NAFA members with up-to-date insights and trends. 

jetAVIVA CEO Emily Deaton comments, "jetAVIVA is dedicated to supporting NAFA's membership with our expertise and established track record of success. We look forward to contributing to the association’s mission to provide the highest quality services the industry has to offer.” 

To learn more about jetAVIVA, visit https://jetaviva.com.  

About NAFA:   
The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. To add your company to our world-class network of the best in aircraft finance, sign up at https://www.nafa.aero. 

NAFA member, Thomas W. Mitchell, Executive Vice President of Essex Aviation, discusses light private jet costs, examples and best uses.

Whether you’re exploring the wide world of private aviation for the very first time or are a seasoned traveler, it’s important to consider not only the utilization models available to you, but also the various aircraft classes you can from choose. This guide is intended to provide you with a better understanding of light private jets, including what benefits they have to offer, how they compare to other classes of private aircraft and more.

What Is a Light Private Jet?

A light private jet — also known as a light jet or small cabin jet — is the next class of jet aircraft up from very light jets, or VLJs. Although specifications and performance vary depending on each aircraft’s particular make and model, light private jets are generally capable of accommodating four to eight passengers, offer a maximum non-stop range of nearly 1,700 nm and have average cruising speeds of 420 knots.

Most examples of popular light jets exceed the Federal Aviation Administration’s definition of Light Aircraft, as their maximum gross takeoff weight exceeds 12,500 lbs. While light private jets have certain advantages over midsize and large cabin jets, they do not offer a stand-up cabin or other amenities commonly associated with larger aircraft classes, such as a full-service galley or dedicated lavatory.

What Benefits Do Light Private Jets Offer?

Light jets are a popular option for both business and personal use due to their relatively low operating costs, high speeds and ability to fly above most adverse weather. Many light private jets also have excellent short-field performance, which grants aircraft owners access to a large number of small, less busy airports, often closer to their final destination.

Additionally, given their smaller size, light private jets tend to require a lower upfront investment and require lower variable and fixed costs than larger classes of aircraft. Last but not least, a variety of light jets allow for single qualified pilot operation, which may be a key objective for owner-pilots.

As with all other classes of aircraft, travelers interested in flying on light private jets have a variety of private aviation options available to them, including chartering, leasing and outright acquisition. When considering a light private jet, be aware of the aircraft’s specifications and available range, especially if all seats are to be occupied or if your destination airport has a unique short or high-altitude runway. Certain factors, such as the total number of passengers, the amount of luggage, weather conditions and runway length can impact a light private jet’s range capabilities. This can lead to the need to limit the weight of the jet, which reduces the maximum quantity of fuel it can carry.

Read full article here

This article was originally published by Essex Aviation. 

FOR IMMEDIATE RELEASE: January 23, 2024    

Contact: Tracey Cheek  
tlc@nafa.aero 
405.850.1292  

Joe Bass 
615.743.8219 
joe.bass@pnfp.com 

Faith Seifuddin 
615.743.8437 
faith.seifuddin@pnfp.com 

NAFA Welcomes New Member: Pinnacle Financial Partners  

National Aircraft Finance Association (NAFA) is pleased to announce that Pinnacle Financial Partners has recently joined its network of aviation professionals. Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses, owners and individuals interested in a comprehensive relationship with their financial institution. 

“NAFA members proudly finance, support or enable the financing of general and business aviation aircraft throughout the world, and we are happy to add Pinnacle Financial Partners to our association,” said Ed Medici, President of NAFA 

About Pinnacle Financial Partners:  Pinnacle Financial Partners began operations in a single location in downtown Nashville, Tennessee, in 2000 and has since grown to approximately $47.5 billion in assets as of September 30, 2023. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 17 primarily urban markets across the Southeast. 

Forbes lists it as 27 among America’s Best Banks. Pinnacle also earned a spot on the 2023 list of 100 Best Companies to Work For® in the U.S., its seventh consecutive appearance and was recognized by American Banker as one of America’s Best Banks to Work For ten years in a row and number one among banks with more than $10 billion in assets in 2023. 

For more information, visit www.pnfp.com.  

About NAFA:  The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer.