THE ART OF PRE-PURCHASE INSPECTIONS

IF YOU DON’T work for an MRO, you probably look forward to pre-purchase inspections (PPI) with the same relish as you do annual medicals or dentist appointments.

We are (definitely) not promising that our guide to PPIs will make them any easier, but like dental treatments, things are improving. Engine monitoring improvements are reducing the need for borescopes for example – which is a big win.

Like all transactions, PPIs work best when both sides are prepared to work hard to empathise with each other (which is why there is no room for psychopaths in aviation). No seller wants to pay more when they are selling an aircraft, but no buyer wants to end up with a lemon.

One thing that perhaps could help would be an industry standard PPI specification. But this is probably too ambitious. There has been little appetite to adopt standardised documentation (unlike superyacht sales) and business aviation is all about unique transactions. (Which is why it is more interesting than the commercial aircraft market).

A better solution could be the industry using a different vocabulary. We already have adopted pre-owned rather than second hand. Perhaps we could do the same with corrosion. Stop using the C-word and instead borrow from the art and antique market.

When art dealers are pitching a thousand-year-old bronze antiquity, that is now green, they never talk about corrosion or, even worse, rust. Instead, they mention that it has a beautiful patina (from the Italian word patinato, which comes from plaster being painted to look like stone).

A lot of ultra-high-net-worth aircraft owners also buy art. This means that an aircraft buyer reading a pre-sale report which mentions some signs of ‘patina’ on the landing gear they will be much more relaxed than if it says “corrosion.” It is also worth remembering that most patina on an aircraft can easily be removed and painted over.

CJIQ is always about people, planes and passion. In other features we look at the different routes that Chris Leach at Air Charter Service and Lasse Rungholm at OPMAS have taken in the industry. We see what the people in the market are really thinking and why everyone should be more optimistic about eVTOLs. There is also the sad case of Bryan Sherbacow who shaped today’s sustainable aviation fuel industry.

Thanks so much to everyone who came to CJI Miami 2024 – it was an amazing three days. We are looking forward to travelling around the world with you in 2025 – in London, São Paulo, Dubai, Malta, Singapore, Miami and other places.

By the way, please feel free to take this as a reminder to book an appointment with your dentist or doctor. Check-ups are not fun but, like PPIs, they are important. You can also have dental corrosion. Sorry, that is dental patina.

LOUISA WHYTE, Publisher

[email protected]

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Contents

EVERY ISSUE

Life in seven questions: Svenja Wortmann – After considering a career in journalism, Svenja Wortmann discovered her true vocation in business aviation. Here the MD of DC Aviation explains how the industry won her heart (and how she overcame her fear of flying along the way).

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Jet Data: The numbers you need – Our guide delivers all the must-have information from aircraft manufacturers about the performance and prices of leading makes of business jets.

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COVER STORY

Cover Story: Planning the perfect PPI – Here’s how to take the angst (and expense) out of planning pre-purchase inspections for your next business aircraft acquisition. We ask brokers, lawyers and others how to manage PPIs to avoid the headaches and hold ups that plague so many deals.

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UP FRONT

The Q1 Question: Will top connectivity speed jet sales? – Six appraisers and brokers consider whether connectivity upgrades will help sellers close a jet sale more quickly.

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FEATURES

Smarter charter: Air Charter Service plans expansion – Despite the recently cooling charter market, Air Charter Service has ambitious expansion plans. CEO and founder Chis Leach explains how the business is aiming to double its branch network worldwide over the next five to 10 years.

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Industry Mindset Survey: Our latest survey revealed varying levels of optimism around the world.

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Fraud fighter: The Alder Fuels story – SAF visionary Bryan Sherbacow helped to shape the renewables sector … before serving a prison sentence for fraud.

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Record business: A “golden letter” from PwC inspired Lasse Rungholme to launch his multi-million dollar aircraft documentation business OPMAS based in Aarhus, Denmark.

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EVTOLs: Heading for a hard landing? – After both Lilium and Volocopter filed for insolvency, what is next for the advanced air mobility industry? Will investors return to the industry?

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Category creation: A user’s guide – Roberto Guerrieri, CEO and co-founder of software business Bluetail explains his mission to modernise the world of aircraft records.

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EVENTS

Report: CJI Miami 2024 – News, views and photographs.

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Corporate Jet Investor Quarterly is a long-form print and digital magazine read by more than 23,000 dealmakers and decision-makers; people who buy, sell, operate, maintain, finance and advise on aircraft sales. We aim to always be insightful, international and independent – and occasionally we are a little irreverent. If you would like to be added to the distribution list please click here.

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Corporate Jet Investor

London 2023

February 6th to 8th

The Landmark London

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