Ultimate Jet #73 - Phenom 300E Flight Test

INTERVIEW I 30
A
n international platform for aircraft sales, marketing and ownership strategies for over 55 years, Jetcraft straddles both new and preowned
aircraft markets. As the travel industry is heavily impacted by the coronavirus pandemic and the future remains unclear, Ultimate
Jet asked Jahid Fazal-Karim, Jetcraft’s owner and Chairman of the Board, what does the Covid-19 mean for business.
How is Jetcraft functioning during the quarantine?
I’m happy to say that our staff and their families are all healthy and safe, and that Jetcraft remains open for business and ready to transact.
We’ve been in business for over 55 years and persevered through our share of challenges, which has only made us stronger. I joined the
company during the 2008 downturn and, since then, it has grown to be a highly functional, remote-based operation. Initially this structure was
put in place to support travel schedules, offer flexibility for staff and service our global clients in every time zone, but it also fosters business
resilience during times of crisis.
What is the impact on your business?
The pre-owned market has certainly been affected by the current economic situation resulting from the COVID-19 pandemic, and we are seeing
some deals put on pause. However, at this stage, we don’t see any reason to panic and are advising our clients to remain calm while we have
more visibility on the true economic impact of the world lockdown.
We don’t know what the future will hold but, as of now, deals are still happening and there is still a good level of activity considering the situation.
IADA has reported over 100 aircraft transactions amongst their membership since March and more than 50 additional aircraft under contract.
Since government restrictions have been put in place, Jetcraft have signed multiple contracts and Letters of Intent and are closing aircraft
despite the COVID-related issues. We’re also accepting trades and purchasing aircraft for our own inventory, so we have a lot of confidence in
the market and industry right now.
For those in the position to take a long-term view, there is plenty to take advantage of. A variety of quality inventory is available, interest rates
are low and bonus depreciation still applies. We’ve seen some aircraft back on the market after recently completing PPIs, providing turnkey
acquisitions at a great value for those ready to purchase.