Global Jet Capital Launches CleanFlight Carbon Offset Program with Carbonfund.org Foundation see more
Aimee Talbert Nardini, Global Jet Capital
Global Jet Capital Launches CleanFlight Carbon Offset Program
with Carbonfund.org Foundation
Danbury, CT – April 13, 2021 - Global Jet Capital, a global leader in financial solutions for business aircraft, announced today the introduction of its news CleanFlight Carbon Offset Program. In partnership with Carbonfund.org Foundation, a U.S. based 501(c)(3) non-profit organization, this new program will provide Global Jet Capital clients with preferred pricing and a simplified process when they choose to offset the greenhouse gas emissions related to their business aircraft through the purchase of verified carbon offsets.
Vivek Kaushal, President and Chief Operating Officer of Global Jet Capital, stated, “We created this program to help raise visibility around the impacts of climate change and provide our clients with a vetted option to offset the impact of their aircraft operations on the environment. The program is completely voluntary and provides our clients the flexibility to acquire a level of carbon credits consistent with their operations. Though this is not intended to satisfy government regulations regarding environmental mitigation, our partnership with Carbonfund.org provides our clients the assurance of acquiring verified carbon offsets from a trusted and globally recognized partner.”
The CleanFlight Carbon Offset Program can be implemented when a client commences an operating lease, finance lease or loan with Global Jet Capital. The Carbonfund.org team will support Global Jet Capital in estimating the carbon footprint size associated with the client’s anticipated use of its specific aircraft. This will be based on the fuel burn associated with the make and model of the aircraft, anticipated annual operations, and desired years of coverage. Upon acquisition of the carbon offsets, Carbonfund.org will provide appropriate certifications for the client’s records.
All voluntary carbon offset projects that Carbonfund.org supports are third-party validated and verified to one or more of the internationally recognized standards by organizations including The Gold Standard, Verified Carbon Standard, and American Carbon Registry.
Third-party validation/verification companies include various global environmental and engineering consultancies such as Bureau Veritas Certification Holding SAS, Environmental Services, EPIC Sustainability Services Private Limited, First Environment, LGAI Technological Center S.A., RINA Services S.p.A., Ruby Canyon Engineering, SCS Global Services and Environmental Services, and TÜV NORD CERT GmbH.
All validation, verification and monitoring reports for all registered voluntary carbon offset projects are publicly available on the registries maintained by each of the international standards. Carbonfund.org’s project management team reviews these documents for compliance prior to selecting projects to be supported.
For more information about this new CleanFlight Carbon Offset Program, contact Aimee Talbert Nardini: firstname.lastname@example.org.
- Ends -
Notes to editors
Global Jet Capital
With over $2.6 billion in assets under management, Global Jet Capital provides financing solutions for the business aircraft market. The Company is capitalized by world-class private investors with expertise in the global aviation industry: The Carlyle Group, FS/KKR Advisor, LLC, a partnership between FS Investments and KKR Credit, and AE Industrial Partners. The Global Jet Capital management team has served the business aircraft industry for a combined 220-plus years and has completed over 3,500 aircraft transactions. The Company has the expertise, financial strength, industry relationships and infrastructure necessary to offer a variety of flexible financing solutions at the speed the market requires. Visit www.globaljetcapital.com to learn more.
Carbonfund.org Foundation, Inc.
Carbonfund.org Foundation is a globally recognized 501(c)(3) non-profit organization leading the fight against climate change, making it easy and affordable for businesses, organizations or individuals to reduce and offset their climate impact and hasten the transition to a clean energy future. Carbonfund.org achieves its goals through: Climate change education, Carbon offsets and reductions, and Public outreach. In its 17-year history, Carbonfund.org has supported over 200 third-party validated and verified voluntary carbon offset projects across 25 countries and 42 of the US states. Learn more at www.carbonfund.org.
Cloud Storage - The Data Revolution and Why It Matters see more
NAFA member, Ryan DeMoor, Aviation Tax & Finance Reporting Solution Manager with Satcom Direct, discusses the data revolution and why it matters.
Just like industries everywhere, business aviation is becoming increasingly digitized. Data generated from an aircraft can record and relay information, in real time, on just about every aspect of the flight. Intelligently collating and analyzing these data saves money on the cost of flight operations, improves your onboard and ownership experience, and helps preserve the value of your aircraft when it comes time to sell.
Until now, business aviation has traditionally used data to provide historical diagnostic reference points; but in the same way Enterprise Resource Planning software revolutionized corporate financial management twenty years ago, so the ability to automatically collect, centralize, and analyze data is revolutionizing business aviation.
Transparent, reliable, timely data can give owners much clearer insight into an aircraft’s history and can answer many of the questions that influence the asset value and operational costs in a clear and verifiable way. How many hours has the aircraft flown? When is the next scheduled maintenance check? Why is the fuel burn going up? What are the monthly operating costs and what are they going to be? Which are the most expensive routes to fly and are there alternatives? These questions and a myriad more can be answered in a keystroke.
New technologies that can instantly transcribe text, the evolution of Artificial Intelligence (AI), and the growth of machine learning, is making rich data analysis possible as it replaces the need for extensive amounts of inefficient human capital. After all, value can be extracted only if a distinction is made between deficient and qualified data. As the familiar phrase “garbage in, garbage out” states, inaccurate data or poor quality input will always yield flawed output.
Yet when the data collected from automated entities such as aircraft platforms, scheduling systems, and financial software are centralized and verified, aircraft owners and operators benefit from a much clearer vision of what aircraft ownership looks like.
Authenticated data, collected automatically as events occur and expenses are incurred, can define costs based on facts and intelligent analysis, rather than quotes and guesstimates. This creates standards enabling “apples to apples” comparisons and distinguishes between non-relevant comparisons. Through accurate benchmarking, purchasing behavior can be modified to identify budgetary savings or confirm peak performance on every action associated with a flight. Data synchronized and shared across global flight departments support even more efficient operations, improve customer satisfaction, and enhance asset management.
From an aircraft’s first digital heartbeat, technology can unify visibility into all aspects of aircraft operations now, and into the future. Data enable powerful, predictive analysis. A single data resource can provide insight for the finance department into existing and anticipated costs, and supports the ability to intelligently query supplier pricing. It can help global flight departments make decisions about aircraft or fleet optimization based on an improved understanding of upcoming needs. Pilots can use data to efficiently plan future routing to maximize fuel burn, minimize turbulence, and improve the passenger experience. IT departments can use the same data to anticipate, manage, and mitigate cybersecurity risks associated with connected devices.
For those that adopt a data-led asset management strategy, the gap between the value of an aircraft with data-rich heritage and one with manually recorded logs will be immense and will only widen into the future.
By increasing transparency, asset values not only are retained, they increase as capital and operating expenditure is reduced. Data are driving new standards and bring more accountability to the operations of business aviation. This stimulates demand as the asset values are better understood by all stakeholders. Considering the current state of the globe, this increase in demand could not be happening at a better time for our industry. The data revolution is here and for early adopters it is the only way to fly.
This article originally appeared in Business Aviation Advisor November/December 2020.
FAA Makes Changes to Public Documents Room Due to COVID-19 see more
NAFA member, Debbie Mercer-Erwin, President of Wright Brothers Aircraft Title, Inc., shares the latest update on the FAA Civil Aviation Registry and Public Documents Room.
In light of the continued spread and impact of COVID-19, or Coronavirus, the FAA Civil Aviation Registry has issued new procedures affecting the Public Documents Room (PDR) in the Mike Monroney Aeronautical Center.
The change in processes comes in an attempt to minimize exposure to employees, permit-holders who regularly access the PDR, their families and the public at large.
The FAA intends to keep the PDR open and “provide essential services while maintaining social distancing and restricting physical public access.”
There are now temporary measures in place, effective as of 8:00 am, Thursday, March 19, 2020, to help slow the spread of Coronavirus and maintain efficiency at the Registry.
While the PDR remains open for their usual hours, 7:30 to 4:00 CDT, the “filing” window has been closed, which removes the ability to immediately file documents.
For now, document submissions will be collected from drop boxes located directly outside the PDR – hourly for those qualifying as “priority” and twice a day for those that do not.
During this time the Registry will not provide “minute-by-minute” filing stamps. Digital submissions are allowed if all closing documents are digitally signed and less than 20 pages.
Documents can still be mailed via the usual means, but there is now a temporary email option as well.
Documents can be emailed following certain requirements: all digitally signed, attachments 20 pages or less per document, one aircraft per email, and priority indicator.
Another notable change is that the FAA cannot guarantee “in by 11 out by COB” expedited processing of documents for imports.
There are also changes to payment services, which should now be completed online at pay.gov. A receipt can be generated to be submitted to the Registry if filing documents via email.
It may be a while before we fully see the effect these changes have on document filing and transactions, but there will certainly be some delay while we become accustomed to the new procedures.
While disruptions inevitably continue for industries worldwide, we are encouraged by the actions our leaders and communities are taking to protect our health and help businesses continue to run.
This is a summary of details regarding the FAA’s PDR changes. For more information and assistance please contact your local agent.
This release was originally published by Wright Brothers Aircraft Title, Inc. on March 20, 2020.
GATS! Coming Soon to a Country Near You see more
NAFA member, Wright Brothers Aircraft Title, discusses the Global Aircraft Trading System (GATS).
The Global Aircraft Trading System, or GATS, is an initiative stemming from one of the most successful multi-country treaties. The Cape Town Treaty, signed in 2001, set up uniform rules and regulations to help facilitate asset-based financing and leasing of aviation equipment worldwide.
As discussed in our previous blog, The History behind the International Registry (another initiative of Cape Town), the treaty established a set of laws more favorable to lenders that would expand international financing opportunities and open doors for new market entrants around the globe.
The Aviation Working Group (AWG) was a central participant in this process as a not-for-profit legal entity contributing to the development of policies, laws and regulations that advance international aviation financing and leasing.
Their latest project, coming soon to a country near you, is GATS, which specifically aims to “increase the transparency of and confidence in aircraft trading, and further protect rights, by introducing a secure, live and searchable electronic ledger displaying details of ownership and security interests.”
Both the International Registry and the Global Aircraft Trading System are designed to modernize and facilitate, via electronic registries, the efficient and secure trading and financing of aircraft equipment, while protecting the rights of all parties. GATS, however, focuses on “reducing the burdens on lessees, lessors and financiers” and even more so, protecting the lessee’s rights.
Out of necessity, the trading and financing of aircraft equipment subject to leases continues to grow in the aviation industry. Likewise, the need for trusts. You can read more about this in the blog Why an Aircraft Should be Registered in Trust, by our sister company, Aircraft Guaranty Corporation.
Subsequently, the need for more efficient lease and trust transactions has become increasingly important, especially in commercial aviation where ownership interests in leased collateral changes hands on a frequent basis. Every time the ownership changes, the lease between lessor and lessee must also change, creating a heavy burden on the lessees.
An airline employee once complained that they had to alter a lease agreement 11 times in 2 years. Placing aircraft in trust transfers the burden of these ownership changes to an owner trustee, allowing lessees to focus on operating their airlines. While the benefits of GATS can clearly be seen in the commercial airline realm, the benefits to the business and general aviation sector remain to be seen.
The fully electronic system will be voluntary and open to all industry participants. With e-signatures, e-delivery of documents and use of a secure e-ledger to record transactions, the platform will detail the trust history of aircraft that are registered on GATS.
The new registry could be another tool for aviation escrow services to use in Clearing Clouded Aircraft Titles, similar to an FAA title search. While this could increase safety and transparency in international aircraft transactions, it will also increase costs. It may also increase the time it takes to close, depending on how quickly and efficiently the new GATS registry system can be searched.
At first, any GATS trust will be formed in Ireland, Singapore or the U.S., and subject to the applicable jurisdiction for the creation and transfer of security interests. Available jurisdictions may expand in the future.
The rights of lessees will be specifically protected by prohibiting transfers unless agreed upon conditions in favor of the lessee have been met. GATS will also further “reinforce ‘no increased obligations’ lease provisions in favor of lessees”.
The GATS platform for electronic trading is practically here. The static URL was activated on December 10, 2019, and from March 1st to 31st a ‘simulated transaction period’ will be open. The full launch is targeted for April 1, 2020.
With the FAA issuing an opinion on January 22nd concluding that “the GATS transitional trust documents comply with applicable federal law and will support aircraft registration in the name of a GATS trustee”, it appears that GATS is ready for takeoff.
Stay tuned for more GATS developments. For more information on GATS, visit awg.aero/project/gats/.
This article was originally published by Wright Brothers Aircraft Title on February 10, 2020.
Clay Lacy Teams with World Fuel Services and World Energy to Offer Sustainable Aviation Fuel (SAF) at Van Nuys and Orange County FBOs, Transitions Ground Support Vehicles to Renewable DieselClay Lacy Teams with World Fuel Services and World Energy to Offer Sustainable Aviation Fuel (SAF) see more
(Los Angeles—March 22, 2021) Clay Lacy Aviation will offer Sustainable Aviation Fuel (SAF) at the company’s two FBOs at Van Nuys Airport and John Wayne Orange County Airport. SAF is an important component of Clay Lacy’s comprehensive sustainability strategy. World Fuel Services (World Fuel) begins monthly SAF deliveries to both locations this month, with 2021 deliveries to total a minimum of 100,000 gallons. World Fuel is also providing renewable diesel (RD) fuel to power Clay Lacy’s fuel trucks, GPUs, tugs and other ground support vehicles. SAF reduces net greenhouse gasses by up to 80 percent. This represents a reduction of approximately 192 tons of carbon this year, the equivalent of 475,000 miles driven by an average car. Clay Lacy’s transition to renewable diesel will eliminate 64.5 tons of carbon in 2021, the equivalent of 8,225,828 smartphones charged.
The SAF and RD delivered to Clay Lacy is produced by World Energy, a green energy solutions provider that empowers leaders in transportation sector to make meaningful and immediate progress toward reducing carbon emissions. The SAF is produced from inedible agricultural wastes and is certified by the Roundtable on Sustainable Biomaterials.
“We are delighted to begin providing a regular supply of SAF and renewable diesel to both Clay Lacy FBOs,” said Darren Fuller, World Fuel Services. “Demand for SAF is growing and it is rewarding to work with Clay Lacy to help our industry achieve its goal of cutting carbon emission in half by 2050.”
“World Fuel is a key partner in our sustainability strategy, implementing a broad range of initiatives to significantly reduce our carbon footprint,” said Scott Cutshall, Clay Lacy’s SVP of Business Operations. “Developed in concert with their sustainability experts at World Kinect Energy, our strategy also includes carbon offset programs for aircraft management clients, and Van Nuys and Orange County FBO customers, as well as renewable energy and sustainable purchasing, construction and operating practices. We are proud to report that all Clay Lacy facilities have achieved net-zero carbon status for calendar years 2019 and 2020.”
NATA Membership and SAF Advocacy
Clay Lacy is also a member of the National Air Transportation Association (NATA) and serves on its Environment Committee. NATA has been a strong advocate for increasing the production and availability of SAF at federal, state and local levels through the Business Aviation Coalition for Sustainable Fuel. “It is rewarding to see the efforts of our team and industry partner organizations result in a greater awareness, adoption and supply of SAF,” said Timothy Obitts, President & CEO, NATA. “Clay Lacy and World Fuel are leading the way to an exciting future.”
SAF for Clay Lacy FBO Customers
Tested and verified by aircraft, engine and component manufacturers worldwide, SAF is a safe, reliable drop-in fuel—which means that no modifications are required to the aircraft or other equipment. SAF supports compliance with emerging international emissions standards, allowing business jet operators to achieve corporate social responsibility goals and demonstrate the industry’s commitment to addressing climate change.
“We exist to empower leaders to reduce their transportation-based carbon footprint,” said Bryan Sherbacow, Chief Commercial Officer at World Energy. “By making SAF accessible to the business jets flying out of their FBOs, Clay Lacy is leading a shift toward more sustainable operations and creating the opportunity for others to benefit from using cleaner fuels.”
Renewable Diesel for Clay Lacy Ground Support Vehicles
Made by hydrotreating non-petroleum-based feedstocks, renewable diesel fuel burns cleanly and efficiently in all diesel engines with no modifications required to the motor or the vehicle. Nontoxic and biodegradable, renewable diesel has up to 80 percent lower carbon intensity than regular diesel.
About World Fuel Services
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel sells fuel and delivers services at more than 8,000 locations in more than 190 countries and territories worldwide. Visit wfscorp.com.
About World Energy
World Energy exists to deliver ever better solutions at scale to those leading the push to lower carbon emissions in transport. World Energy partners with business leaders committed to net-zero goals to create customized green energy solutions to address their most difficult carbon challenges. Through its network of low-carbon fuel production facilities and supply chain partners across North America, World Energy enables business growth to be compatible with immediate carbon reductions. For more information, visit www.worldenergy.net.
About Clay Lacy Aviation
Founded in 1968 by legendary aviator and industry pioneer Clay Lacy. Today, Clay Lacy Aviation is considered the world’s most experienced operator of private jets. Prominent individuals and leading corporations trust Clay Lacy for aircraft management, charter, maintenance, avionics, interiors and FBO services. The company has aircraft operations and regional offices across the U.S., including a full-service FBOs at Van Nuys Airport in Los Angeles, and Orange County’s John Wayne Airport, with a third FBO opening at Waterbury-Oxford Airport in 2022. Clay Lacy also has FAA Part 145 aircraft maintenance centers in Los Angeles, San Diego and Oxford, Connecticut. With the most knowledgeable team in the industry, Clay Lacy delivers superior safety, service and value to aircraft owners and jet travelers worldwide. Visit claylacy.com
Clay Lacy Aviation
+1 (818) 989-2900 X706
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David Norton, with Shackelford, Bowen, McKinley & Norton, LLP, discusses ADS-B Out & RVSM airspace. see more
NAFA member, David Norton, Partner with Shackelford, Bowen, McKinley & Norton, LLP, discusses ADS-B Out and RVSM airspace.
The FAA just made your life a little easier. As of January 22, if your aircraft is properly equipped with ADS-B Out, you are automatically authorized to fly in domestic RVSM airspace.
What Does That Mean?
A key air traffic control function is to keep aircraft safely separated. A basic way of doing so is to have aircraft fly at different altitudes. But this works only if everyone’s aircraft altimeter – the instrument that tells you your altitude – is accurate. Altimeters originally were very accurate at lower altitudes; less so the higher you flew. So the norm was for air traffic control (ATC) to instruct different aircraft to fly at specific altitudes that were at least 1,000 feet apart from each other when flying below 28,000 feet, and at least 2,000 feet apart when flying above 28,000 feet.
That would ensure enough of a safety buffer between what the altimeter was saying and what the aircraft’s actual altitude might be, to be sure two airplanes were not inadvertently flying at the same altitude (even if their instruments said they were 2,000 feet apart) when above 28,000 feet. But flying above 28,000 feet, where half as much airspace is available, typically is where you want your jet aircraft to be in order to maximize air speed and fuel efficiency.
By the early 2000s, technology had improved to the point that ATC could begin to use only a 1,000 foot separation above 28,000 feet (thus doubling the airspace available to jet aircraft), but this would work only if all aircraft in that airspace had the new, more accurate technology. The FAA therefore issued a rule stating that if an operator wanted to fly in this newly “reduced vertical separation minimum” (RVSM) airspace, that is, the airspace above 28,000 feet and below 43,000 feet, then specific permission was needed.
If the operator demonstrated an ability to meet all applicable technical requirements, the FAA would grant a “letter of authorization” (LOA). Periodically, the operator would have to fly over specific ground stations able to measure the actual altitude of the aircraft, to confirm that the technology was actually working. Unfortunately, the ongoing problem has been that obtaining these LOAs can be extremely difficult and time consuming, and you can’t cruise in RVSM airspace until you have one.
During the last ten years, however, two key things have happened. First, most of today’s aircraft meet all of the original RVSM requirements. Second has been the simultaneous development of a much larger, more comprehensive set of technologies to significantly improve the overall safety and efficiency of the U.S. air traffic control system.
Key to this effort is “Automatic Dependent Surveillance-Broadcast Out” (ADS-B Out), which is much more accurate than ground-based radar, and which allows the FAA to track very accurately the aircraft’s actual position, altitude, velocity, identification, etc. – in real time. Federal Aviation Regulation (FAR) 91.225 governing ADS-B Out equipment and use requires that all aircraft operating in U.S. airspace have a certified GPS position source teamed with a transponder that is capable of automatically transmitting data from the aircraft to the ATC without input from the pilot. ADS-B also gives pilots immediate access to air traffic and weather services.
To its great credit, the FAA realized that, as aircraft operators install this new ADS-B Out technology, it can safely and automatically grant permission to those operators to fly in domestic RVSM airspace. This saves both the FAA and each operator an enormous amount of time and energy, reducing paperwork and processing requirements, while maintaining a higher level of safety, better situational awareness, and more efficient, direct routing.
The new RVSM rule is a further great incentive to encourage you to install ADS-B Out in your aircraft before the January 1, 2020 deadline.
This article was originally published by Shackelford, Bowen, McKinley & Norton, LLP on March 11, 2019.
How to Refurbish Your Jet With Maximum Appeal (Part 1) see more
NAFA member, Gary Crichlow, Director of Aviation Finance with Arc & Co., discusses business jet refurbishment.
How would you upgrade your jet to optimize appeal on the resale market?
When refurbishing your business jet, how far should you go? How can you anticipate appealing to future buyers, and what should be the priorities with a sale in mind? Arc & Co’s Gary Crichlow shares the insights of Tobias Laps and Iain Houseman.
Refurbishing or upgrading an aircraft is a very different investment proposition compared to refurbishing a property. While property generally appreciates in value over time, aircraft are fundamentally depreciating assets. Outside of very specific, often unpredictable market conditions, aircraft will lose value as they age.
Any investment into a business aircraft therefore needs to be looked at from the point of view of slowing that value loss as much as possible and extracting maximum utility, rather than expecting a positive financial return.
The most effective way to slow natural depreciation is to ensure the aircraft is desirable to the market so it sells quickly when the owner decides they want to upgrade or generate some cash.
Mainstream, sought-after aircraft models in top maintenance condition that have undergone a high-quality cabin refit don’t tend to stay on the market for long (unless they’re unrealistically priced).
What Makes an Appealing Interior?
Naturally, when considering how to fit out the cabin of a private jet, it’s crucial to make choices that not only align with your current needs and desires, but also account for your future buyer’s mindset as much as possible.
Decisions made now often have a sizeable impact on the future point of sale. The one similarity with selling property is that a well-executed interior should enable the buyer to visualize himself or herself in the cabin with little or no change rather than having to consider the cost of ripping it all out and starting again.
Following are several themes that are important to consider when it comes to the perceived value that a well-executed cabin refit generates at the point of sale from a buyer’s perspective.
Note: With our use of the term ‘value’, we encompass not only the actual return by way of an increased sale price (which tends to be the exception rather than the rule), but also the impact on the time it takes to sell the aircraft, thereby minimizing the detrimental effects of depreciation and time on the market.
Aircraft Condition Over Aircraft Style
Generally, aircraft in better condition tend to be easier to sell. A relatively new interior that’s in good condition can markedly increase an aircraft’s appeal, but its impact will be very much dependent on the basic aircraft ‘metal’, i.e. its age, hours and maintenance condition.
Tobias Laps from Comlux Management AG notes that on Large Jets and Bizliners, the design of the interior, the layout and materials tend to have a much bigger impact on the buyer’s decision-making than on smaller aircraft.
“In our experience, when buyers walk onto an aircraft, they typically know within the first few minutes whether the interior will work for them or not,” Laps explains.
“If they don’t like the interior at all, they will often walk away from the deal. If there are only certain aspects of the interior that they don’t like, they will then have to decide whether changing those aspects would be worthwhile.
“It is at this point that they weigh up their view of the basic aircraft, the metal versus the cost of changing the interior to better suit their needs. If the metal is relatively new, in good condition, and is worth significantly more to the buyer than the cost of the interior upgrade, then that’s what will tend to drive the decision,” Laps continues.
It is therefore of key importance for a seller to understand the interplay between the technical and the cosmetic, which will depend heavily on the specific details of the aircraft.
Do Cabin Cosmetics Matter?
There are important aspects of the cabin prospective sellers can address to give buyers a first-class impression of the aircraft’s condition, and according to Laps that begins with choosing an interior layout with resale value in mind well before the actual sale, including “mainstream” color and veneer choices.
“In terms of specification, wireless connectivity is a trend whereby passengers can connect their own devices while on board,” he adds. “Upgrading a wireless entertainment system is easier because the interior does not have to be removed to rewire components.”
Know Who You’re Trying to Impress
Regardless of the layout and specification, Laps emphasizes that the first thing you must do when selling your jet is to prepare to impress the principal’s technical representatives.
“Make sure the maintenance records are up to date, well-organized and presentable and the aircraft is clean and fully serviceable,” he details. “It’s a very good idea to clean the landing gear, bays and externally-accessed compartments.
“Only after the representative has examined the technical condition of the aircraft and records and is satisfied will the principal typically come to assess the interior and overall cosmetic condition and make the final decision.”
In preparing for the principal to come and view the aircraft, it will need to be cleaned. “The exterior should be spotless, and the flight deck and cabin should be deep-cleaned, including the galley, lavatories, carpet and sidewalls,” Laps concludes.
“Everything should look fresh and up-to-date. Soft goods and furnishings should invite the principal to visualise himself or herself using the aircraft.”
Age Before Beauty?
Iain Houseman of Elit’Avia, meanwhile, believes the interior will be a lot more important if the aircraft is older. “If it’s a newer aircraft, then the interior is usually still in pretty good shape and, in that case, it comes down to how appealing it looks to the buyer,” he notes.
“If the interior has been designed in a way that appeals to a limited group of people (as an example, red leather seats or a carbon fibre interior instead of veneer) that can be a deal-breaker, because buyers will have to spend time and money to change it.
“For older aircraft, the interior condition can be important for the same reasons – if the interior has recently been redone or is in good condition then the aircraft is more appealing because it doesn’t need significant rework,” Houseman observes.
“Additionally, there is a need to understand the current technology systems and the proximity of major inspections for the aircraft that will allow upgrades to be incorporated and save considerable costs.
"For example, we estimated a major inspection for an owner’s aircraft of $1.1m and got the cost down to just under $800k – and managed to include some key avionics upgrades, internal improvements and soundproofing enhancement, which proved very useful in getting the aircraft ready for sale.”
Upgrading and refurbishing an aircraft is a significant investment that can strongly enhance your experience while on board. Nevertheless, when planning for the investment, it’s important to have a realistic view of the value a refurbishment creates.
A well-executed cabin refit should not only meet your immediate needs in terms of space, aesthetics, utility and connectivity. It should appeal to the broadest possible range of potential buyers when the time comes to move the aircraft on.
In ‘Part 2’ we’ll explore the current trends in cabin design as owners seek to maximize utility, comfort and style, gaining input from renowned interior designer Celia Sawyer, while also considering the importance of maintaining paperwork and ensuring the design is properly certificated to enhance the chance of selling your aircraft at the best price. Stay tuned…
More information from www.arcandco.com
This article was originally published by AvBuyer on August 12, 2019.
FAA Aircraft Registry Reaffirms its Position on Digital v. Electronic Signatures see more
NAFA member, Scott McCreary, Vice President at McAfee & Taft, discusses the FAA's position on digital and electronic signatures.
The United States Federal Aviation Administration (FAA) issued a Memorandum to the FAA Public Documents Room on September 9, 2019, reiterating the position that it would accept documents with digital signatures, but not accept documents executed with only the electronic signature methodology. The Memorandum provides that “An electronic signature is a method of signing a document whereas a digital signature is the encryption/decryption technology of which an electronic signature is built. The digital signature secures the data associated with an electronically signed document.”
The Memorandum confirms that in the past the FAA Aircraft Registry (Registry) may have unknowingly accepted documents with merely electronic signatures. The most common electronic signatures filed with the Registry were produced with DocuSign or Adobe, but the Memorandum confirms both programs have a digital signature option that could be utilized.
By way of background, in May of 2016 the FAA issued a Notice of Policy Clarification for Acceptance of Documents With Digital Signatures (81 FR 23384). The Policy Clarification confirms that the Registry will accept printed duplicates of electronic documents that display legible, digital signatures that are filed in compliance with Parts 47 and 49 of the FAA Regulations (14 CFR parts 47 & 49). The Policy Clarification is clear that only digital signatures, as compared to the broader classification of electronic signatures, are acceptable. The Registry expands on the distinction between digital signatures and electronic signatures in its AFS-750 Change Bulletin 16-03, which further references FAA Order 1370.104, Digital Signature Policy.
The Policy Clarification goes on to provide that "A legible and acceptable digital signature will have, at minimum, the following components: (1) Shows the name of the signer and is applied in a manner to execute or validate the document; (2) Includes the typed or printed name of the signer below or adjacent to the signature when the signature uses a digitized or scanned version of the signer’s hand scribed signature or the name is in a cursive font; (3) Shows the signer’s corporate, managerial, or partnership title as part of or adjacent to the digital signature when the signer is signing on behalf of an organization or legal entity; (4) Shows evidence of authentication of the signer’s identity such as the text ‘‘digitally signed by’’ along with the software provider’s seal/watermark, date and time of execution; or, have an authentication code or key identifying the software provider; and (5) Has a font, size and color density that is clearly legible and reproducible when reviewed, copied and scanned into a black on white format."
Prior to the Policy Clarification, the Registry would only accept originally, ink signed documents. The use of digital signatures has certainly been a great benefit to the industry and very helpful for closing aircraft transactions which require filings with the Registry.
It is often difficult to determine if a document has been digitally executed, and different programs (such as DocuSign and Adobe) identify digitally executed signatures differently. Parties should be careful to make certain any documents filed with the Registry are ink signed originals or digitally executed in compliance with the Registry requirements.
Feel free to contact the aviation team at McAfee & Taft if you have any questions or comments.
This article was originally published by McAfee & Taft on September 9, 2019.
The History Behind the International Registry see more
NAFA member, Aircraft Guaranty Corporation, discusses the history of the International Registry.
The concept of multi-country international laws governing the financing of aircraft was the brainchild of Jeffrey Wool, who understood the global nature of airline financing and knew that more favorable international laws were needed to encourage investment in startup airlines.
Originally referred to as UNIDROIT, which is French for one law, he envisioned countries around the globe adopting a set of laws favorable to lenders that would encourage international financing of aircraft.
It would include a central international registry where rights and interests of international lenders would be registered in one place.
The Concept of Global Financing
Global financing for aircraft and airlines is of huge importance. You can read about this in ourblog, Why an Aircraft Should be Registered in Trust.
Starting a new airline is no small undertaking – with a long list of requirements needed to get a new airline off the ground, not the least of which is capital investment. Emerging markets are traditionally not affluent enough to provide start-ups with capital, so new airlines look to more prosperous economies for assistance.
The continuing increase in global air travel is overwhelming current supply chains, creating opportunities for new airlines to handle the demand. Start-ups around the world are adopting the low-cost carrier model, and opportunities to invest in these start-ups abound. Investors need to feel comfortable, however, with the business model of the airlines with which they are investing.
Investors around the globe are more willing to invest in startup airlines if they can be assured that they have the right to repossess the assets of the new business if the burgeoning new airline doesn’t make it and can’t pay off their loan.
The Cape Town Convention
In response to this need, the Convention on International Interests in Mobile Equipment was held, creating a set of uniform laws to encourage the financing of aircraft, particularly for developing countries. The original convention was held on November 16, 2001 in Cape Town, South Africa, and has therefore become widely recognized as the Cape Town Convention.
Signing the treaty was only the first step, and only represented an intent to participate in the Convention. To fully participate in Cape Town, signatories to the Convention had to ratify the treaty. This meant that participating countries had to change or adopt certain laws to make them more favorable to lenders financing the airlines.
To get Cape Town fully up and running, eight countries had to ratify the treaty. This took a while, so although the Convention was signed in 2001, not all of the provisions were fully up and running until March 1, 2006.
The original participating eight countries were Ethiopia, Ireland, Malaysia, Nigeria, Oman, Panama, Pakistan, and the United States. Today, the Convention has been signed by 77 different countries, and all but seven have fully ratified the treaty.
So, What About the International Registry?
The Cape Town Convention had a provision for creating an International Registry (IR), where the rights of all these international lenders could be filed for the world to see. The concept is much like the FAA, where all interests in the United States are filed in one place (Oklahoma City).
Unlike the FAA, however, the IR is an electronic-based registry that only gives notice of an international interest against an aircraft. In order to see the actual documents creating the interest, one must go beyond the IR to the country where the interest was created.
The IR was originally designed to show only liens against aircraft. As the concept of the Convention grew, many people felt that ownership interests should be registered as well. Many wanted it to operate more like the FAA’s title-based registry, so that interested parties could get an understanding of the aircraft owner’s current identity, not just whether there were any liens against it.
Registration of Ownership Interests were therefore added to the scope of the treaty, and the IR now allows for notices of ownership interest called contract of sales.
Is the International Registry in Cape Town, South Africa?
While the treaty was signed in South Africa, the question of where to place the IR was a big one, and political. Many countries vied for the right to host the IR, but it came down to two main contenders: Canada and Ireland.
A lot of deliberation went into making the final decision, but in the end, Ireland was selected, and the IR was placed in Dublin where it is currently managed by a company named Aviareto.
Now that we’ve given the history behind the Cape Town Convention and the creation of the International Registry, our clients may wonder about the need to register – please consult with Aircraft Guaranty Corporation to determine if you are eligible to register with the IR or not.
This article was originally published by Aircraft Guaranty Corporation on August 28, 2019.
Is business aviation ready for Blockchain? see more
NAFA member, Corporate Jet Investor, discusses Blockchain and business aviation.
Blockchain is one of those words nearly everyone has heard of or read about over the past decade, but very few people can define exactly what it is. Those who take a shot at explaining it usually end up saying something along the lines of: “Blockchain is a distributed, decentralized, public ledger.” Instead, the best way to think about blockchain is that it allows data to be held securely in a provable format. The blocks of the chain are digital pieces of information or data.
This deep granularity means small items can be tracked, with the data stored on a network of computers. Fundamentally, the goal of blockchain is to allow digital information to be recorded and distributed, but not edited. Accessing individual blocks requires a key, created by complex algorithms. This ensures the data items cannot be tampered with, essentially helping the data points be verifiable.
For business aviation the potential application of this technology could be vast, from storing individual financing documents to spare-parts tracking of the smallest aircraft components. Fuel companies are also working on using it.
Adoption across business aviation of blockchain is still very much in its early stages but this will change soon. Clay Healey, owner of AIC Title Service, is among the first movers. The firm has been using blockchain since last year, mainly placing closing information into it, for roughly 2,000 assets with a $2bn value in closing. Healey says that AIC uses blockchain primarily for security but adds that a lot of the language around blockchain is slowing its adoption.
“For us at AIC, blockchain really is an added layer of security. I think a lot of the words used around blockchain make it incredibly hard for most people to grasp it. Nodes. Decentralisation. What do they mean?” he asks rhetorically.
“Breaking it down logically, it’s a way to put information across a vast array of servers, and that makes it extremely secure and virtually un-hackable. I say virtually as for verification of the documents, 51% of the computers, or servers, need to agree that the data is correct. To hack 51% at the same time is a huge task.”
Aiham Bader, founder and CEO of Click Aviation Network, is another pioneer. The trip support company is already using Blockchain technology for its Instant Permit Programme and is looking at leveraging it to help with parts traceability.
“If you are going to implement blockchain, start from within,” said Bader. “Have a group from your company who understand your business, vision, the target and the plan. Then you have the engine within who understand blockchain and if it fits within your business. Then from all the problems you have to pick out only one problem and start with it first.”
Todd Siena, founder and chief of Block Aero, a start-offering a blockchain platform, also highlights that for aviation blockchain offers security of data and a method to verify the truth of that data, which can be crucial for an aircraft’s resale value.
“Where we see the value of blockchain at Block Aero is that it organises asset data and secures the verification of it. Given that aircraft value is linked to this asset trace data integrity, which grows over the life-cycle, being able to prove up that asset data is vital. If you lose the data, or it is incomplete, then you are losing resale value,” says Siena.
Being able to store and verify crucial data cross many components is of obvious benefit to aviation, especially on the maintenaBlock Aero recently announced a flagship pilot project with Turbine Services & Solutions and Etihad Airways nce side where there are numerous parts to track.
The blockchain pilot project, sponsored by Mubadala Aerospace R&D, aims to improve engine-overhaul times by enhancing cooperation between parties that need to collaborate on aircraft asset data.
Healey agrees that blockchain’s ability to prove-up documents makes blockchain a good opation for aviation.
“One great thing about packaging our closing documents into one PDF is that all the information is there and if it is housed on the blockchain it’s incredibly easy to obtain that information if and when there’s a need to prove upwards.”
Siena thinks that aircraft will ultimately either be on the chain or not, with implications for the pricing of financing and asset sale value.
“I think the world will diverge into a place where we have aircraft and assets on-chain and off-chain. Maybe those at the start will be newer aircraft and premium ones like business jets,” he says.
On-chain aircraft may also be able to get tailored insurance policies as well, Sienna adds.
“These on-chain assets will enjoy several advantages over those not on the blockchain. For example, insurance may be cheaper as you can prove to the insurer the condition of the asset with risk monitoring over the life-cycle,” says Siena.
“Right now, most insurers offer very generalised policies, but providing more granular data means these can be more tailored. The same can be applied to asset financing.”
Back on the chain gang
One obstacle to blockchain’s wider adoption is that making a complete repository of all aviation assets is something of a herculean task.
“But away from putting new stuff into the blockchain, reverse engineering blockchain into the aircraft title world may be near on impossible as there are just so many aircraft. You’d have to go so far back to get all the information. If someone was to draw a line in the sand and say ‘let’s just do it from say 2018’, then it might be feasible,” says Healey.
Registry support would play a critical role in making the adoption of blockchain more feasible. But according to Healey no registry has embraced blockchain as of yet, though AIC is in talks with a European registry around use of blockchain.
OEM support would also help fasttrack blockchain’s use across aviation, according to Paul Jebely, partner at law firm Pillsbury in Hong Kong. “The inevitable march towards modernity must invariably begin with the OEMs as first movers,” Jebely says.
However, costs and a lack of immediate efficiency gain may dissuade OEMs from adopting blockchain swiftly, Healey argues.
“I wouldn’t say blockchain really adds efficiency and it does cost a lot, even for relatively small users like us. If you’re an OEM, the cost will be many times more and imagine having to log every piece of metal, every change to that piece of metal – that’s not efficiency, that’s slowing you down! But then again when it comes to certification, you can just take all that data stored in one place, assert that it’s true and present to the FAA or whomever– that is where the streamlining blockchain offers starts to come in for OEMs.”
Other technologies are available
Use of blockchain may not accelerate rapidly in business aviation, but there is little doubt that harnessing technology can bring business efficiencies. For example, Healey is using computing power to cut down the amount of time it takes to trace ownership.
“We are working on a computer system that will essentially be able to read registry documents, and hope to have that online by June. That will bring efficiencies as, before, tracking all the owners, different parts etc could take four to five days,” Healey says. “There’s a 9ft tall office we have here, and some of the paper trails you’d produce from those registry searches would be as tall as the ceiling. And you have to double check all of that! Now the computer will read that document in eight minutes and all we will have to do is to check it, which might take an hour or two. That’s a tremendous time saving.”
Smart business-aviation firms need to embrace technology that assists them. Whether blockchain is one that will become widespread looks unlikely in the near term. But as AIC’s planned new system shows, there are always new avenues to explore.
Long-time Broker and NARA Co-founder Johnny Gantt, Sr. Dies see more
Johnny Gantt, the long-time aircraft broker and co-founder of the National Aircraft Resale Association—now the International Aircraft Dealers Association (IADA)—died on May 14. He was 83.
Gantt founded Gantt Aviation in Georgetown, Texas, in 1971, building the business into a well-known international business jet and turboprop brokerage firm that houses inventory in 40,000 sq ft of hangar space in Georgetown that has its own service center. He helped found the National Aircraft Resale Association in 1991 to pursue a code of ethics in the business of acquiring, selling, and trading aircraft. “To that end, Gantt Aviation became known worldwide as an honest and upstanding dealer in the global market, a distinction that made its founder proud,” IADA said.
"Johnny's life will forever be synonymous with aviation and NARA, and for those of us lucky enough to know Johnny well, he was simply so much more," said John Foster, founder of Ogarajets. "A trusted and loyal friend with more stories of life than anyone can recount...a devoted husband, dad, and grandfather...a teacher, coach, and mentor to so many in and around Georgetown, Texas. Johnny's legacy will be marked by inspiration to others: anything is possible.”
Born May 2, 1936, in Sweetwater, Texas, Gantt became interested in aviation after a pilot visited his high school to discuss flight careers, according to local obituary information. Soon after he took flight lessons and bought a Piper J3 Cub with money he earned working nights at a cotton gin. After graduation, he became a flight instructor in San Marcos, Texas, and eventually teamed with a local FBO owner, James Miller, to co-own Miller Flying Service in Plainview, Texas.
About 15 years later Gantt sold his share back to Miller, moved his family to Austin, and established his brokerage firm. While selling planes, he continued to fly them, amassing more than 25,000 flight hours with type ratings in Lear, Citation, Hawker, Diamond, Beechjet, and King Air aircraft, among others. He also accrued a number of regional titles from the U.S. Acrobatic Club.
Gantt is survived by his wife of 57 years, Eura Mae, daughter Melanie Gantt Rivera and her husband Julian, his son Johnny (Jay) Gantt, Jr. and his wife Amy, and five grandchildren.
This article was originally published by AINonline on May 28, 2019.
An Interview with Clay Lacy Aviation CEO Brian Kirkdoffer see more
NAFA member, Brian Kirkdoffer, President and CEO of Clay Lacy Aviation, talks business with Alexa Rexroth of Business Jet Traveler.
Beckoned to aviation by a flight in a P-51 Mustang fighter bomber when he was 15 years old, Brian Kirkdoffer now runs the business named for that airplane’s pilot. The Seattle native, who joined Clay Lacy Aviation in 1990 to fly charter missions, became its president in 2003 and has been its CEO and majority owner since 2013.
Kirkdoffer has certainly come a long way, and so has his company, which recently celebrated its 50th anniversary. Founded at Los Angeles’s Van Nuys Airport as the first jet-charter operation west of the Mississippi, it currently manages more than 100 corporate aircraft, employs about 500 people, and operates facilities at nearly two dozen airports nationwide. In addition to charter, it provides sales, acquisitions, maintenance, avionics, interiors, and FBO services. Revenues in 2018 were around $215 million, a 45 percent increase from the figure five years earlier.
We spoke with Kirkdoffer at Seattle’s Boeing Field—the airport where he first took off with Lacy.
How did you stay connected with Clay Lacy after your first flight when you were a teenager?
He got me started with flying and soloed me, and then we kept in touch when I was at the University of Washington. My degree was in business administration with an emphasis on finance, and I was planning to go to Europe for a little while and then work in finance. Clay suggested that instead of spending money traveling, I could come to California and he would train me to be a copilot in a Learjet. So I stayed there and have been there ever since. That’s how I got hooked in with Clay Lacy Aviation.
What led you to buy a majority ownership?
Early on I loved business. I had a lawn-mowing business, I started a windsurfing business, and in college, I started a business that provided custom-made t-shirts, sweatshirts, and hats to fraternities and sororities on my campus. I have an entrepreneurial spirit. And then I have a passion for aviation and felt I was fostering two passions.
I had so much fun and fulfillment at Clay Lacy Aviation that I wanted to keep it going. Clay is older than me, so there needed to be a transition. The thought was for me to continue the company when Clay no longer wanted to. He took it to a certain phase, and I wanted to take it to the next phase. We talked about it for years and that became my focus. I felt it was best for our employees and clients, so that motivated me to take over majority ownership.
How would you describe your management style?
I like to be a coach more than I like to be a boss. I love recruiting great people, and I love empowering and training them to do great things. People did that with me, and nothing makes me happier than seeing team members enjoy what they are doing and feel fulfilled doing it.
Whenever I flew a trip, I never felt it was 100 percent perfect. There was always something I could have done a little better. While you’re never going to be perfect, you should always be trying to get to perfect. I try to instill that attitude at Clay Lacy. Every day, try to be better than you were yesterday. If all of us are doing that, spectacular things happen.
What unique perspective does your background working in all aspects of the business bring you and your team?
I’ve done most of the jobs at Clay Lacy that people are doing there today. I’ve washed airplanes, fueled airplanes, dumped lavatories, flown airplanes. I’ve been the flight attendant, I’ve done maintenance and troubleshooting with our mechanics. I’ve done everything on the finance side, so I understand operational costs.
When I was a crew member, especially as captain, I had high expectations for our team. I took it as a challenge to figure out how we could serve clients better than they had ever been served before. Customer satisfaction is very important to me. I have that expectation across all product lines on the service side.
On the pilot side, I was flying one time with Clay and worried about another airplane that was in maintenance. Clay looked at me and said, “You’re not thinking about this flight right now.” He said, “When you’re flying these airplanes, it’s the only thing that should be on your mind—getting from A to B safely.” He was absolutely right. Our focuses at Clay Lacy are safety, service, and value, in that order.
What are your growth plans for the company?
Two years ago, we acquired Key Air [a Connecticut-based aircraft management and charter company], and that has been a wonderful addition. We don’t acquire much, though, and my preference is for more organic growth. We operate out of about 21 airports and feel strongly that regional support—with immediate access to all the services required by aircraft operators—is a big competitive advantage for us. So that’s probably where you will see us continue to focus.
How difficult is it for you to find and keep qualified employees?
We are fortunate in that we have a 50-year-old company. Recruiting and retaining great people has to be something you’ve invested in for many years. To me it all comes down to the company culture. Do people enjoy being there? Is there room for them to grow? Is someone looking out for their career path? We have that culture and we cherish it.
Our partnership with North Valley Occupational Center [a Southern California school for adults that offers courses on aviation mechanics] is part of the DNA of Clay Lacy Aviation. We want to help the industry, help the local community, and keep the aviation ecosystem as strong as possible. It starts with making sure bright young minds get passionate about aviation. We’ve helped a lot of students continue their careers in aviation—people who otherwise couldn’t afford to do so.
What kind of financial and brand risks has the company taken?
We added land at Van Nuys and spent a lot of money to do that, but it’s fulfilling our vision. Key Air was another risk—we’ve never acquired another company the size of Key Air. It had a great legacy, great people, and a great culture that really fit into ours but it was a huge risk.
We also changed out all of the computer software systems at Clay Lacy when I purchased the company because they needed to be upgraded. It was very expensive, and we had to adapt them for our business and our industry. It took us three years and millions of dollars to do it but it’s paying off.
What are your thoughts on continued consolidation of the FBO industry?
It’s good in many aspects for the industry, but I think we offer a competitive advantage because we are not part of that consolidation. We consider our clients, our employees, and our vendors to be our shareholders, and our decisions are made to improve safety, service, and value to all three of those groups. We are fortunate that we have enough size and scale to be able to acquire some things along the way that make sense. The barriers to entry in this industry keep increasing, and you need a certain size and scale to compete. We provide an intimate flight-department experience but we have the size and scale and power behind it.
What’s your favorite aircraft to fly?
That’s like asking who is your favorite child. I love them all. That being said, I have to go with what I have the most experience in: the [Gulfstream] GIV. That was the latest and greatest when I was flying. I have been all over the world in that airplane and it never let me down. It’s the aircraft I have the fondest memories with.
This article was originally published by Alexa Rexroth with Business Jet Traveler in April 2019.
René Banglesdorf speaks to pilot Andrew Gratton about the Cessna Citation CJ3. see more
NAFA member, René Banglesdorf, CEO of Chalrie Bravo Aviation, speaks to pilot Andrew Gratton about the Cessna Citation CJ3 in part 1 of this exciting new video series.
Private aviation insider René Banglesdorf interviews some of the world’s most interesting pilots and gets the scoop on aircraft they’ve mastered, including the aircraft’s operational strengths and weaknesses and their most thrilling experiences from the cockpit.
In episode one, she speaks to Andrew Gratton, pilot, aviation consultant and co-founder of Wingform on the key features of the Cessna Citation CJ3.
In this engaging interview, we learn about the stand-out features of the CJ3 from the point of view of an accomplished pilot. Find out about operating and maintenance costs, range capabilities, cabin environment and much more!
Andrew Gratton has been involved in aviation since he was 18 years old, having flown as a line pilot for the United Nations on missions in war zones, whilst working in corporate aviation management. He is also an aircraft broker, and serial entrepreneur driven by finding solutions. Andrew is the co-founder of Wingform, an exciting new platform for secure aviation transactions. He lives in Stockholm, Sweden with his wife and 3 children.
In his spare time, he even competes for Sweden at International level aerobatics in an Extra 330. And flies the De Havilland Vampire fighter jet in airshows.
Coming soon: a second video featuring Andrew talking about his passion for flying.
René Banglesdorf is the co-founder and CEO of Charlie Bravo Aviation, an aircraft brokerage headquartered just north of Austin, TX. René has a degree in journalism from Ohio University and serves as the VP of Communications on the International Aviation Women’s Association Board. She is a frequent speaker on topics of business aviation and women’s issues, and has written several books, the latest of which, Stand Up: How to Flourish When the Odds are Stacked Against You, will be released in April 2019.
This article was originally published by AvBuyer on April 4, 2019.
Wayne Starling’s advice for anyone starting out in business aviation see more
NAFA member, Alasdair Whyte, Co-Founder and Editor of Corporate Jet Investor, talks with Wayne Starling, with Starling Consulting, LLC., about starting out in business aviation.
Recently, I had the pleasure of being on a panel at the Corporate Jet Investor conference in Miami. One of the questions asked was for any guidance or counseling that I could give a new person starting out in the aviation business. My advice was for a person to find a mentor.
I have thought about that question over the last few days. I wished I would have had the time to go into more depth. Yes, a mentor is important throughout your career, but there are other important elements as well. Throughout my career, I have hired and observed many young talented people come and go. I often reflect on what makes the difference in people succeeding and what causes many of them to fail. I have analyzed this for years and believe that the top 5% do many things that make a big difference in whether they “stay with the pack” or become top performers in their field.
My observations watching those top 5%:
ATTITUDE: It starts and ends with their attitude. What is interesting is the fact that I have asked hundreds of people if they think they have a bad attitude. No surprise here, but almost all of them never admit to being negative or having a bad attitude. However, you and I know that when you are around a person that has a negative attitude, they will brighten a room by leaving! One person with a bad attitude can and will cause severe problems if they remain part of a team.
MOTIVATED: Have you noticed most people that complain and develop a bad attitude are the ones doing the least amount of work or nothing at all! This is where they need help by taking an inventory of their activity. It is hard to be unmotivated when you are busy. If you want to get motivated, then get busy! Do something, i.e. get motivated by making some calls, setting up appointments, talking with customers, reading, studying and learning. Understand that real motivation comes from the “doing” not the “wishing” things would improve.
STEP UP AND MOVE FORWARD: Successful people have a desire to learn. They are involved in stepping up by setting realistic goals and then by moving forward. They take action! Do they make mistakes? Yes, but that is a sign of stepping up and moving forward. In many situations, they will learn from these mistakes more so than from the successes. They don’t coast through life. We all know if you are coasting, you can only coast downhill.
PATIENCE AND COMMITMENT: I don’t mean sit around and wait. Yes, sustainable success takes real time and effort to get the greatest rewards. The road to success is not straight without bumps, hills, and plenty of detours. How you handle the bumps and detours, will determine the person you become. If you want to become a person of value, a person of character, a person respected, then you must be patient while you work and take the steps and move forward.
MONITOR CLOSELY THE PEOPLE AROUND YOU: Some person you meet along the road of life will either pick you up or pull you down, or just hang on to you for a ride. People that don’t know you will form an opinion of your worth based on the people that are your associates. Who are your role models, your mentors, people you respect in the business and would like to emulate? Life is full of choices on your way to success so be picky about your influencers!
All of the above recommendations are part of the puzzle that will make up your success: your attitude, people that you surround yourself with, your patience and commitment, staying motivated, finding a mentor. All pieces of the success puzzle.
Do you want to be one of the top 5% of highly successful people? Step up and move forward and you will not only enjoy the journey, but you will also enjoy success at the destination. Good Luck!
This article was originally published by Corporate Jet Investor on November 29, 2018.