Industry Insights

Aviation in Latin America is experiencing significant change, with the Federal Aviation Administration (FAA) projecting robust 4.5% growth per year over the next decade. For business aviation, Ultra High Net Worth Individuals are also a rising force, with Jetcraft’s latest Market Forecast finding 14.3% of its buyers aged under 45 are from the region, a reflection of increasing wealth.

Meeting the needs of executives, entrepreneurs and communities which are significantly underserved by commercial airlines, business aviation fills a void in Central and South America that no other form of transport can.

Infrastructure gaps

Of Brazil’s 5,500 municipalities, only about 130 are covered by commercial aviation routes (ALTA). This snapshot of an acute necessity for connectivity is replicated across the continent.

With commercial flight options limited, and travel times by boat or train often rolling into days, business aviation’s flexibility and efficiency is fueling its demand across the region. Time-pressured executives conducting operations beyond borders also prefer the privacy and convenience offered by a business aviation terminal, where long queues and scheduled flight times don’t exist.

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When boarding a domestic flight in the United States, it’s easy to see that air travel in the country is thriving – global air travel. Airlines in the US and Canada were the first in the world to return to post-pandemic profitability in 2022 and have done a phenomenal job of matching capacity to demand. Looking ahead, the forecast is bright as carriers in the region are expected to post a net profit of $14.4 billion in 2024 (IATA).

While debates range on whether so-called ‘revenge travel’ is over, for IATA, North America remains “the standout region in terms of financial performance.” Its latest forecast states demand in Revenue per Passenger Kilometer (RPK) was 16% higher in 2023 compared to 2022, with a 6.3% year-on-year rise in March 2024.

Amid such a thriving environment, the region is poised to not only profit from revived travel demand but to also serve as a source of aircraft for other regional airlines.

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During the height of the pandemic, inventory levels for business aircraft dropped to a record low of 3%. Buyers were less demanding, it was easy to find a buyer close to home, and many aircraft were sold before they hit the market.

With demand at an all-time high, selling a listing was more straightforward, especially as many sellers delayed large maintenance projects and internal refurbishments to capitalize on a dynamic market.

Now the market is returning to normal, it’s important that sellers understand the benefits of properly readying their aircraft for sale to maximize its value.

Previously, buyers were willing to invest in the business jet they wanted, even if it was due for maintenance or refurbishment. Today’s buyers expect aircraft to be well maintained and in the early part of their maintenance. Sellers should stay ahead of maintenance requirements to ensure their aircraft’s readiness for a buyer or be prepared to lower their price.

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Jetcraft is the largest worldwide buyer and seller of business aircraft, with 60+ years of experience. We understand that every transaction is personal, and our team of experts work diligently on our clients’ behalf. For decades we’ve been supporting buyers to find the right aircraft for their mission, and ensuring that sellers benefit from our global network and sophisticated promotional tools to capture the attention their aircraft deserves.

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The European commercial aviation industry has rebounded faster than expected following the pandemic, with particularly strong recovery seen in the regional market.

This return to health is underlined by the European Travel Commission (ETC), which has predicted international tourist arrivals to Europe will surpass 2019 levels in 2024, a year earlier than previously forecast.

For major airlines, there’s a challenge in meeting this increased demand at a time when certain narrowbody models are contending with well-publicized Pratt & Whitney GTF engine problems, and globally, narrowbody inventory remains scarce.

The result is a growing trend towards European airlines turning to regional aircraft and seeking longer leases to source the capacity they need.

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At Jetcraft, we’ve put together the strongest and most dedicated team of aviation specialists, ready to sell your aircraft quickly and at the best price. That includes our legal experts, who handle negotiations for letters of intent, purchase agreements, and closing for each aircraft, while simultaneously advising the sales team on how to best structure their transactions.

In this video, Matt Potts, General Counsel – EMEA, explains the dedicated support Jetcraft can provide, navigating even the most complex of deals.

How is the legal team involved in Jetcraft’s deals?

The legal team are generally only involved if we are purchasing and selling an aircraft. This could be an almost simultaneous purchase and sale, purchase for inventory or sale out of our inventory. We handle all the negotiations for the letters of intent, purchase agreements, drafting, closing preparations, and closing of the aircraft. On the front end of the deals, we will also advise the sales team on how to properly structure a transaction and get the logistics right so that we can get the deal done successfully.

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India’s aviation sector is thriving. No other country in the world ordered more aircraft during 2023, with Indian airlines spending billions on close to 1,000 new jets. This surge highlights the strength of the commercial aviation market and demonstrates significant growth potential for the business aviation sector.

The nation is currently the busiest Asian market for business jet activity, with WingX data showing movements in 2023 are up 21% compared to 2022. The report also shows 2023 business aviation flying levels are down 4% on 2022 globally, so India’s growth is bucking the trend. At Jetcraft, we’ve seen rising demand from prospective buyers in India, with midsize and large aircraft types the most popular.

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During the pandemic, business aviation became a hugely attractive option for those who had the means but had never previously flown privately. Many ultra-high net worth individuals (UHNWI) quickly recognized the health, safety, time and productivity benefits business aviation offers.

It’s encouraging to read that some 95% of new entrants are continuing to fly privately, according to a study featured in Aviation International News. To support the long-term success of our sector, we need to build on this momentum to ensure all users of business aviation continue to have an exceptional experience. Here’s how.

Providing value

Our industry must promote the benefits of business aviation, which unlocks opportunity and drives economic growth by maximizing efficiency and connectivity.

During the pandemic, the ability to travel without boarding packed planes and waiting in crowded terminals was self-evident. This also provides peace of mind today, on top of the additional convenience and connectivity offered, which is particularly valuable when airlines are still frequently delayed.

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Jetcraft became the first business aviation company to establish a permanent presence in the Metaverse when we built our Decentraland lounge in 2022. We unveiled our virtual hangar in 2023, providing a 24/7 immersive aircraft viewing experience that can be accessed via our website, lounge and Oculus headset.

Additionally, at the General Aviation Terminal in Nice Côte d’Azur Airport, business aviation users can now effortlessly enter our virtual space through an interactive Jetcraft display – which begins with the clouds parting to reveal our virtual hangar through the use of motion sensor technology.

Bringing the Metaverse and VR technology into our operations isn’t simply innovation for the sake of it. While it’s still early days, and how and when the internet will evolve is yet to be determined, we know that it’s crucial we join up our full Beyond the Globe experience to learn how to meet the requirements of business aviation’s changing customer base.

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