Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

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Charles Alcock

Business jet financing group Global Jet Capital is pressing ahead with further expansion of its worldwide sales team, despite seemingly unsettled market conditions. The U.S.-based company is about to announce the appointment of two sales vice presidents based in Europe, and the individuals, who are still serving notice periods with current employers, are expected to join the board by early- to mid-summer.
“Europe is going through a bit of a tough time. The pre-owned aircraft inventory is creeping up, and the industry globally has slowed,” acknowledged Global Jet Capital chief operating officer Dave Labrozzi. “But we are so convinced that this market will grow again that we are investing in people, processes and capital, even if it seems counter-intuitive.”
In a report released today at the EBACE show, Global Jet Capital said that 41 percent of Europe’s business aircraft fleet are in the mid-size to large category (compared with 32 percent for the global fleet). Its analysis of JetNet data shows that there are 1,691 midsize to large private jets in Europe, with the UK accounting for the largest share, with 15 percent of the total (249). The majority of Portugal’s fleet are in this category (81 percent), followed by Russia (71 percent) and Austria (60 percent).
The research also showed that between 2011 and 2015, 709 midsize to large jets were delivered to customers in Europe, with a combined value of over $35.4 billion. While overall deliveries to Europe during that period were 35 percent down compared with 2006 to 2010, deliveries of midsize to large jets increased by 18 percent. By contrast, global deliveries of aircraft in this category decreased by 19 percent over the same timeline. 
Global Jet Capital specializes in financing midsize to large aircraft, and believes that European owners are poised for a wave of fleet modernization. Its report showed that 16 percent of midsize to large jets in Europe are 20 years old or more, and that 8 percent are at least 30 years old. 
According to Labrozzi, further anticipated adjustments in new aircraft production rates by leading manufacturers could help to correct the imbalance between supply and demand. “Many of those who own aircraft want to sell now, but those who are buying are in no hurry. But it’s a great time to buy, and in six months it will likely be an even better time to buy.”
Also contributing to a slowing in the market, Labrozzi told AIN, is that average usage of business aircraft is “about double what it used to be, with customers hanging on to aircraft for upwards of eight to 10 years.” Another factor, he indicated, is uncertainty as to whether fractional ownership companies are currently expanding or contracting their fleets.
In January, Global Jet Capital (Booth T131), which has a strong focus on leases to international business jet owners, completed the acquisition of the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas, representing approximately $2.5 billion of net assets. The complicated process has involved transferring ownership of around 350 aircraft registered in various countries.

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