Private Jet BrokerJet Private Broker
Exactly what is a private jet broker and what do they do?
The Jet Broker performs a wide range of tasks in the process of finding, selecting and procuring an airplane. Firstly, a broker will be very familiar with the economy and finance of ownership and operation of airplanes. An experienced broker has detailed understanding of finance strategy, creditors, leases, insurance companies and aeronautical lawyers who are all parties to such transactions and can act as an adviser and co-ordinator to assist the acquisitions teams as needed.
They also have a thorough understanding of the features and compromises of each jet and can act as consultants to help identify the right plane for each use. It is important to have a good understanding of operational cost in all its detail, as it varies by airplane model and airplane ages and is generally US$3000-8000 per flying hour. However, this is not the case with all types of airplanes.
In-depth analyses of the expected mission will influence the choice of plane types - do you need transatlantic capabilities? There are many different players in the choice - a broker is an expert and will help limit the area. As soon as the jet's cost has been estimated and the profitability and funding possibilities have been clarified with the help of a broker, the purchaser will decide that he can actually warrant ownership of the jet.
Himself Warren Buffet thinks it's hard to warrant a jet, but when he collapsed and bought one, he called it "Indefensible". That'?s when the quest begins. The new nozzles are delivered from the plant in simple grey or grey, then varnished according to the customer's specifications and completed in an equipment centre where all interiors (wood/leather/fabric/carpet) are used.
One broker will monitor this progress and make sure everything goes according to schedule. When the aircraft is not new, the broker will lead the searching crew - the jet could be anywhere in the globe. An agent company will normally run its own jet so that it can pilot the client crew to meet potential contestants.
As soon as a used jet has been chosen for sale, a comprehensive check-up of the aircraft cabin, the power plants, all system and complete documents is carried out, which in turn is normally carried out or at least co-ordinated by the broker. A broker can supervise the painting and decorating, repainting and perhaps retrofitting of new power plants, aircraft engine modifications, aircraft airframes, aviation electronics and other devices such as satellite telephones, web services, etc.
Before the new jet is delivered, the customer's Air Traffic Division must inform itself about the maintenance and operation of the new jet. Wherever a particular airline operates a navy, the Air Force may have its own mechanical engineers who must be qualified for the engine, cabin and system of the new aeroplane. Once again (and you're probably already getting the drift), all this action is co-ordinated or at least made easier by the broker.
After all this, the real money transaction may seem like an ex post thought, but here a good broker deserves his reward. Good broker works with the client's law firm to defend the buyer's interests through this last dorny tick. When all goes well, the broker will eventually see the plane delivered to the customer's hanger.