Bizjet Broker Jetcraft Sees Optimism at EBACE
EBACE exhibit stands are still being assembled and the static display area is still mostly bare at the Geneva Palexpo convention center, but some key industry players are predicting the show will mark a turning point for the business aviation industry. “I think this show will be about optimism,” said Jahid Fazil-Karim, a partner at Raleigh, N.C.-based global aircraft brokerage Jetcraft. “When we showed up at EBACE in 2009 and 2010, everybody was talking about the financial crisis. Nobody was talking about buying airplanes. But I think it’s the beginning of a full recovery now, and I think this show you’re going to hear about delivering more airplanes, about a more optimistic mode.” Backing up his assertion, Fazil-Karim notes that prices of long-range jets–such as the Bombardier Global XRS, Dassault Falcon 7X and Gulfstream G650–have passed the $50 million mark and are still not hampering sales, which is “a huge break, psychologically.” Tomorrow, on the eve of EBACE’s opening, Jetcraft will announce its figures on recent sales transactions, which Fazil-Karim said will further bolster his contention that the long awaited industry recovery has arrived. Click here to listen to the interview with Fazil-Karim.