Industry Articles
July 14, 2010 | Posted by Andrew Richmond
In my last article, May 2009, Barbers Need a License, no government oversight. Talk about I went out on a limb a bit to predict, among other things, that used aircraft prices would stabilize at realistic levels, making ownership attractive for more buyers. That’s generally proved to be the case. In fact, as the market continues a slow but apparently steady recovery, buying an aircraft can once again be a highly rewarding experience. You can find the right aircraft at a great price — a plane that will make you more productive, transport you to more destinations, and offer newer levels of productivity and personal freedom.
However, a smooth and successful aircraft transaction is the result of a process during which a lot of things can potentially go wrong. Very wrong. This is why many companies and individuals employ an aircraft broker to manage the process for them. In this article I’ll explore the benefits and potential pitfalls of using a broker, and offer some guidance on how to find the right one for you.
Barbers Need A License, But Brokers Don’t
As a starting point, let’s make a comparison with the real estate industry, which also involves the sale and purchase of high-value assets. To get a real estate license in California, where the average home sells for around $300,000, you must take classes and pass an exam, then work for a licensed broker who will supervise your transactions. They will also take your fingerprints for good measure. And if you want to upgrade to a real estate broker’s license, you need even more training, as well as additional insurance policies to protect the consumer.
Contrast this with business aviation, where a jet can cost anywhere from about $2 million to $50 million or more. You would think that the rules would be even stricter than for real estate — yet you would be wrong. In fact, to be an aviation broker, all you need is a phone and an email address. That’s right: no training, no license, no government oversight. Talk about buyer beware!
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July 2, 2010 | Posted by Scott Cutshall
A strong tunrout of over 1,900 Attendees made this year’s NBAA Regional Forum the best attended regional forum ever. The event feature 90 indor exhibitors and 30 aircraft on static disply. TWC Aviation had four people in attendence representing the Aircraft Sales, Acquisitions, Management, and Charter services divisions. Many attendees were suprised to see TWC Aviation exhibiting at the New York event, but TWC Aviation is activly expanding and is working on plans for new East coast locations later this year.
The next NBAA Regional Event will be held August 18th in Chicago, Illinois. TWC Aviation will be in attendence. If you would like more information or to make an appointment with a TWC Aviation representative to attend the Chicago event, contact Scott Cuthsall via email at scutshall@twcaviation.com
Categories: Charter, Industry Articles, Management | Tags: | 2 Comments »
March 12, 2010 | Posted by Scott Cutshall
Signs of recovery for the business aviation industry are weak for 2010 but point to improvement in coming years, the head of the industry’s trade and advocacy group said March 11.
Speaking at the National Business Aviation Association Regional Forum at Van Nuys Airport, association President and CEO Ed Bolen said that aircraft deliveries will not be particularly strong in 2010 but that forecasters point to 2011 for when new plane purchases will pick up.
Andrew Richmond, TWC Aviation's President
Flight activity has picked up, sale prices of aircraft have stabilized and the inventory of pre-owned aircraft has dropped when compared to a year ago, Bolen said.
“We are beginning to see progress at the economic level,” Bolen said.
Industry analysts had evidence of slight improvements.
Takeoffs and landings in December were 5 percent higher than the year before, according to UBS Investment Research Business Jet Monthly.
While jet fuel sales dropped in 2009, Brian Foley Associates forecasts more than 21 billion gallons being consumed over the next decade. The firm also expects 9,000 business jets worth $170 billion to be delivered through 2019.
About 1,000 people were expected to attend the daylong event taking place at TWC Aviation. This is the first forum NBAA has had at Van Nuys in about five years.
The association returned because with its new 43,000-square-foot hangar and 22 acres of ramp space there was the room for the 70 exhibitors and the 17 static aircraft on display, said TWC President Andrew Richmond.
“It gives people a chance to see our new hangar and our new plane, a Falcon 2000 LX,” Richmond said.
TWC relocated to the Valley airfield from Bob Hope Airport in Burbank in 2008.
The aircraft management and charter service firm had a good 2009 and is seeing an increase in both charter flights and owners using their planes.
The company is in a hiring mode having added a new a management position, dispatchers and sales people, Richmond said.
Categories: Industry Articles | Tags: aircraft management, nbaa, private jet ownership | No Comments »
March 2, 2010 | Posted by Scott Cutshall
Hear two recent radio interviews with TWC Aviation’s President, Andrew Richmond, which aired on KTIE AM 590. The fist is a discussion about how business aviation is responding to the recent attacks by the Obama Administration. The second segment focuses on aircraft security and safety of the traveling public.
Click Here To Listen to Andrew Richmond on KTIE 590AM
Categories: Industry Articles | Tags: aviation security, president obama, private jet travel | No Comments »
February 16, 2010 | Posted by Andrew Richmond
From Jan 2010 Business Travel Executive Magazine
- Business Travel Executive Jan 2010
There’s a new standard for business aviation operations on the world stage. It’s gaining acceptance around the world, just as concern about aviation safety and security is heating up again. It’s called IS-BAO — and you should know something about it.
This past August, the European Business Aviation Association made a decision that brings a tough new independent safety standard a major step closer to worldwide adoption. They officially recognized the International Standard for Business Aircraft Operations – best know by its acronym, IS-BAO – a strict code of best practices for corporate flight departments and air charter companies.
IS-BAO challenges flight departments to review all their current systems, programs and procedures; correct non-conformities; and identify strengths and weaknesses. Some might wonder why this is significant, since third-party standards have existed since the mid-90s when for-profit companies began offering safety audit and certification programs. There are a number of critical aspects to IS-BAO that set it apart.
Click Here to Continue Reading The Article
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