![]()
Aircraft deals are taking less time than ever before, according to the International Aircraft Dealers Association (IADA). It reports that its dealers were able to close their transactions in 150 days, a significant drop from the industry average of 212. The shorter timeframe means everyone involved in the transaction is affected. Buyers have less time to do research and technical oversight has become more important than ever. IADA's three new IADA-Accredited Dealers and 10 new IADA-Verified Products and Services (Pandamp;S) Members show that the market is moving faster and expecting the professionals they work with to have formal credentialing. The new additions EAC Aircraft Sales AB, EMCJET and Global Aircraft Corporation are the three new dealers. EAC is based in Europe and specializes in the sale and acquisition of business aircraft, while EMCJET is a global aircraft brokerage and advisory firm that represents corporate and private clients in aircraft sales and acquisitions. Global Aircraft Corporation provides comprehensive aircraft brokerage, acquisition and advisory services worldwide. IADA states that as accredited dealers, the three companies meet its standards in providing customers with efficient, ethical and effective aircraft transactions. They will have to be re-accredited annually to ensure they meet these requirements. The Pandamp;S Members are those companies whose primary focus is related to the support of an aircraft transaction, whether it be in finance, legal, tax, escrow, or maintenance. Membership can only be gained once the applicant obtains sponsorship from three current IADA-Accredited Dealers. The ten new Pandamp;S Members include: Airshare Banyan Air Service Beacon Aircraft Technical Services Citadel Aviation Elevate Jet Jets MRO Leviate Jet Management MAnext, Powered by Million Air Northpoint Commercial Finance RIM Alliance What it changes EAC's new membership expands IADA's reach into European cross-border transactions, where buyer expectations around accreditation have historically lagged behind North America. Buyers can now expect that gap to start closing as IADA brings its standards to the European market. Additionally, the independent technical oversight firm Beacon Aircraft Technical Services' addition highlights how the shortened transaction process has increased the importance of choosing the right inspector.