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Two big aviation companies announced new, strategic partnerships on Monday, Jetcraft and Global Jet Capital. Jetcraft teamed up with Bill Papariella as the exclusive trading partner for his new company, AeroVentures and joined forces with Jetquity to pioneer a new program for clients. Global Jet Capital announced a new partnership with Azzera to boost its commitment to sustainability.
As much of the business aviation world traveled to Las Vegas for the 2023 NBAA-BACE convention, Jetcraft announced it had partnered with Papariella, the former JetEdge CEO. His new company, AeroVentures, is an investment firm focused on the world of global aviation through direct equity and credit investments with leading businesses by providing service, technology and infrastructure solutions. With the unmatched expertise of the portfolio team and the CEO Papariella, AeroVentures is growing its presence as an investing partner in the global aviation industry in the private aviation category.Find the aircraft financing you are looking for - brokers, insurance, banking and advisors
"With Jetcraft, Bill is taking his global perspective to the next level," Jetcraft CEO Chad Anderson said. "He is a recognizable force in this industry and now he has access to a leading transaction team located all over the world that's backed by proprietary data analytics. Our partnership with AeroVentures will allow him to better serve the demands of his clients, and his strategic aircraft investments. For Jetcraft, AeroVentures gives us access to Bill's extensive network supported by strong credit lines, creating even more opportunities for our customers to continue transacting at the Speed of Life. We're looking forward to a fruitful relationship."
"As a premier private aviation brokerage with unmatched international reach, data-driven market analysis, and advisors that possess extensive knowledge in the global private aviation ecosystem, we are pleased to partner with Jetcraft," Papariella said. "As the private aviation industry continues to experience shifting demand, AeroVentures looks forward to helping Jetcraft further succeed by accessing our capital on a global scale for aircraft transactions across the world."
On Wednesday Jetcraft announced a second partnership with Jetquity to offer a Residual Value Program to its client base. The Protect Program was designed to provide aircraft owners with a definitive exit strategy by stipulating the precise exit price of their aircraft.
"The Protect Program is about instilling confidence and clarity in aircraft ownership," Jetquity CEO Asad Rahman said. "By letting owners know their exit price, we're revolutionizing the buying and selling process in the aviation world. As part of our objective to align with the most esteemed names in business aviation, we're thrilled to partner with Jetcraft as the first aviation specialist to bring the Protect Program to its clientele."
Jetquity's Residual Value Protect Program was launched in the spring and was designed to safeguard the client's business jet investments against market volatility. The owners can select the duration of the program from one to 10 years and are offered an end-of-term minimum exit price for their aircraft as part of a single premium. Through the integration of the program into service offerings, new standards have been set, promising clients streamlined and transparent transactions.
"Today's pre-owned jet marketplace is extremely complex, and at Jetcraft, we're committed to harnessing innovative technology to benefit our clients," said Jahid Fazal-Karim, owner and chairman of the board at Jetcraft. "Through Jetquity's Protect Program, we're offering our customers the peace of mind that comes with knowing their aircraft's future resale value, and when they are ready to sell their investment, access to Jetcraft's market-leading intelligence and strategic financing solutions to support even the most complex of transactions."
While Jetcraft's partnership will assist the broker in better serving clients through stronger credit lines and more transactional opportunities, Global Jet Capital is looking to bolster the company's commitment to sustainability. New partner Azzera is a provider of carbon offsetting and compliance solutions for business aviation. The companies will work to design a multi-step approach to its sustainability platform to include a comprehensive annual audit to assess scope 1 and 2 direct emissions. Global Jet Capital will then compensate for the scope 1 and 2 emissions with the purchase of a carefully curated portfolio of high-quality carbon offsetting projects that Azzera has identified in adherence with the Oxford Principles for Offsetting. These principles are designed to ensure carbon offsetting projects have been validated for the potential contribution to the goal of achieving net zero emissions.
The partnership will also support the ongoing CleanFlight program that Global launched in 2020. The collaboration with Azzera will allow Global to continue to offer clients flexible and seamless pathways to measure and compensate for greenhouse gas emissions stemming from business aircraft use. Clients will have access to a diverse portfolio of regionally based carbon credit projects which will allow them to align their personal offsetting efforts with their unique needs and sustainability goals. The Global clients will also access compliance management solutions like a specialized Carbon Offsetting and Reduction Scheme for International Aviation specific portfolio that adheres to the specific CORSIA requirements.
"We believe Azzera is an ideal sustainability partner for us," Global Jet Capital CEO Vivek Kaushal said. "With their deep industry experience and strong ties to the business aviation sector, coupled with their strategic presence in both North America and Europe, Azzera is uniquely positioned to support our global client base in achieving their sustainability goals."
"Our collaboration with Global Jet Capital merges their financial expertise with our innovative sustainability solutions," Azzera CEO Puja Mahajan said. "Together, we're not only providing answers for Global Jet Capital's clients but also nurturing a culture of responsibility and foresight. We are delighted to be partnering with such a pioneering company in business aviation."