The gulf between acquisition and the full cost of ownership was also highlighted by Brad Harris, founder and CEO, Dallas Jet. There is a lot of bad advice being given to first-time aircraft buyers, he said. “There’s cost and there’s price. Price is what it costs to buy and cost is what it takes to maintain and run an aircraft. Those are both big numbers and sometimes buyers don’t know the cost,” he said.

Helping new entrants to understand the true costs of private jet ownership proved a key conference theme. “There are more first-time buyers than ever before and they require a level of education,” said Delray Dobbins, Electronic Sales, Platform Sales and Global Strategy, Pratt & Whitney Canada. Only 10% of buyers going into closing were asking for a statement of account. “That creates potential painful exposure points the day after purchase.”

Simplifying topics for owners was a prime responsibility, said Florent Series, chief commercial officer for Europe and general manager, TAG Aviation. “Our role is key to explaining and helping the buyer enjoy the experience. If not, they will get a bad taste, leave the industry and never come back.”

Rapidly rising interest rates, after years of historic lows, should also be factored into acquisition costs, said Felipe Ribeiro, founder and MD, Invicta Finance. Other soaring costs include fuel prices, which climbed even higher after the Russian invasion of Ukraine, and rising labour and parts costs.

Francisco Zozaya, chief revenue officer JSSI, agreed the importance of discussing major overhaul costs within the life ownership of the aircraft. If the new owner expects regular maintenance bills from the beginning, then it’s an “easier conversation to have later”. Not every aircraft owner should be an aircraft owner. “There are people we should advise not to own an aircraft and to consider charter from a financial standpoint.”

But there is already too much charter demand, particularly on the US market, said Per Marthinsson, co-founder and chief revenue officer Avinode. “Those coming into the market are not getting the same service they were a couple of years ago, they are paying a lot more, it’s also very hard to find suitable aircraft. Usage is too high. Request levels in the US are up 100% year-over-year for the past three years.”

Sustainability topics were never far from many speakers’ minds. New entrants and returning buyers, particularly in the younger demographic, are increasingly interested in sustainability. Both groups are probing OEMs and others about their policies on Environmental, Social, and Governance (ESG). “This is one of the first questions asked of an OEM,” said Stephen Friedrich, chief commercial officer Embraer Executive Jets. “This is happening to us now. We are asked very pointed questions about ESG.” Typical questions include: where does your factories’ power come from? Are you using sustainable manufacturing methods? What is the policy on upcycling, recycling and renewable resources?