Global advisors at the speed of life – Jetcraft – interview at EBACE 2023

The blend is unique indeed proven experience, trust of clients, international reach, nuanced market intelligence. Last April we announced an exciting news – Jetcraft latest acquisition of North American CFS Jets. So, the opportunity to discuss with Pascal Bachmann, Senior Vice President Sales EMEA was just a perfect fit. Here is the essential of our discussion:

Q. We’re on Christmas market of business aviation, your first impressions of EBACE 2023 and obvious question, how did you spend the year since EBACE 2022?
P.B. Last EBACE was the first after the COVID, it was a great show for us. This year, contrary to what we used to do, we decided not to exhibit outside on the static display. Instead, we have the entire team based in a nice place downtown and running around, taking advantage of everything. So, the previous year was a very good one for us. We will celebrate it tomorrow at a party outside of Geneva. I think we are now about 500 guests; it is like an A380 will celebrate; we are a little bit scared. The main thing that everyone has a good time. I think the industry had a very good time last two years. After COVID nobody knew what is coming. We’ve backed that. We are very happy about it. What we see now at our side is a return of what I would call business aviation. Corporate buyers are back, and they are buying. In the years right after COVID it was more than 60% of private individuals who were buying. We saw that last ear for us. In 2022 we had a switch and now 60% are corporate buyers.

Q. What do you expect from this year? Do you see changes, or positive trends from the past year becomes even more serious?

P.B. We have so many external factors influencing the industry.  You know what we say about forecasting, forecasting is really difficult especially if you talk about the future. We believe in return of corporate investors, return to fundamentals. To what I call business aviation. There is stabilization in the market for sure. Some people seem to be expecting climb high, it is not going to happen.  Just look at the numbers. We are publishing (I think it is coming out tomorrow) our newest market forecast, which will be the 9th edition. If you look back, with previous editions we were quite accurate. What we forecast: if you look at the numbers of 2022, we had about 2400 aircraft transactions. It is going to be less this year. But it is still going to be the same level if not above what we had in 2018 and 2019, which were good years. 

Q. Sometimes it is not about quantity, but about quality.

P.B. Good point! If you look at that there is one interesting metrics – the average price of transaction. In 2022 it actually increased, comparing to previous years by 38%. So worldwide the average price of pre-owned transaction has been 8.2 million USD.

Q. Even if we don’t talk too much about the future, your plans, any surprises to come?  

P.B. We plan to do our work. I don’t call it a job. I actually am saying I am not working. You work when you wake up in the morning and you something you don’t want to do. It is not the case. So, we are very lucky. Our last big announcement was the acquisition of CFS, a US based broker. It’s really complementing our activity. They are really specialized in the part of the market – turboprops, light jets up to medium jets. It will just round our offer. 

Q. We published this announcement and I was wondering what the result of this acquisition will be. An extension of your services?

P.B. Exactly. It is really what you’ve said – extension of our services in a different segment. Jetcraft will benefit from the acquisition, especially in Europe. Because we always are struggling a bit to find inventory in that segment of airplanes. A lot of European buyers are buying smaller aircraft. Because it is a smaller continent. So this acquisition will be really profitable for us. 

Q. I wish you a very good show!

P.B. You know what? Let’s meet here in one year and have a look back! This forecast we will publish will be the 9th, 8 previous were good. Let’s see!