CJI CONFERENCE MIAMI

CJI Miami Conference

CJI CONFERENCE

CJI Miami Conference

MIAMI

MIAMI IS officially the happiest city in the US (well at least according to a company that wanted a widely-distributed press release). And the mood at Corporate Jet Investor Miami was decidedly cheery and upbeat. Some 69% of attendees were very optimistic about the next 12 months (19% were fairly optimistic).

The numerous networking events – from golf to poolside receptions to the Dealmakers Dinner to cocktail receptions with mini-golf – gave everyone a relaxed place to catch up. With Miami nestled between an excellent NBAA BACE and the end of the year there were a lot of people discussing transactions that they were working on.

The consensus was that 2024 is likely to see fewer transactions and a slight softening in demand for charter. This gives everyone a chance to catch up after years of record demand. “Demand for jet cards in 2020 was so strong I could have sold them by knocking on my neighbour’s door,” said Andrew Collins, co-CEO, Flexjet. But he added that Sentient Jet and Flexjet were on track for a great year in 2023.

“Business aviation is driving change for a better tomorrow on the ground and in the air. We're on a mission to net zero. We're Climbing. Fast.”

Ed Bolen, president and CEO, NBAA

“OEMs are naturally constrained by challenges in the supply chain. But it is unlikely that anyone wants to repeat the oversupply we saw last downturn.”

Shawn Vick, partner, AE Industrial Partners

One of the most attended panels looked at supply – specifically supply chains. Some 75% of the nearly 500 delegates believe supply chains are better than in 2022.

“For the first time in modern history, it’s all about the supply chain determining how many aircraft can be built. It is not just affecting production, it is affecting MRO and maintenance as well,” said Kevin Michaels, MD, AeroDynamic Advisory, on the supply chain panel.

Nick McBoyle, procurement director at Bombardier, explained how the OEM has embedded about 60 intervention specialists into suppliers to help them manage their supply chains. “There is a whack-a-mole effect where problems suddenly emerge,” said McBoyle. “We’re then into a cycle of operational gymnastics to make sure that we can continue the aircraft build as close to the schedule as possible and obviously get them out the door.”

Despite these efforts, 37% of delegates do not expect supply chains to return to pre-pandemic normality until 2025. (32% believe it will be 2026).

Michael Amalfitano, president and CEO of Embraer Executive Jets opened the conference by highlighting how business aviation is leading aviation decarbonisation. He stressed how business aviation is a testbed for innovation.