In our cover story Echelon on top, Amod Kelkar, chief commercial officer, Honda Aircraft Company tells us how the new jet promises to take the company from “start-up to mainline player”. We trace the origins of the new aircraft, how it got its name, plus why the manufacturer has moved from its dealership model to direct sales in some regions. CJI also talks to Michelle Hoover, founder and president, Global Elite Aviation about how the new jet is likely to be received by the market.

From aircraft to the connectivity solutions that keep them linked in flight to the outside world. Our latest exclusive research, conducted in partnership with Viasat, revealed soaring expectations from on-board connectivity solutions. Kai Tang, head of Business Aviation, Viasat said: “Business aviation in-flight connectivity has always been a fast-changing market. If you look at the insights from CJI’s annual survey over the years, it’s clear the pace of change has accelerated.”

Our feature Top connectivity trends: More, more, more charts the pace of that change in six key questions.

We stay with expectations in our next feature, Business aviation: Going electric. Business aviation has always been a testbed for aerospace innovation, so how will the sector respond to the challenges and opportunities of eVTOL aircraft? Our special report seeks answers from: Chris Rocheleau, chief operating officer, National Business Aviation Association (NBAA), Scott Cutshall, senior vice president, Strategy and Sustainability at Clay Lacy and David Shilliday, vice president and general manager, Advanced Air Mobility at Honeywell plus others.

Two company profiles in the latest issue profile Wulf Aviation and Axis Aviation. Our feature Wulf Aviation: On the hunt for jet sales reports how the Mexico City-based company is using the latest AI technology to drive the sale of business aircraft. “We want to grow into becoming the number one broker in all Latin America,” says company co-founder Franco Curiel.

Axis Aviation has similarly bold ambitions. Niall Olver, the firm’s CEO explains in Axis Aviation: ‘On a mission to modernise’ how the business is on a quest to modernise what he describes as “an antiquated industry”.

The CJI events reported in this issue, located in London and Latin America, drew nearly 1,000 visitors. CJI London 2024 conference attracted more than 570 delegates to the heart of London. Top of the agenda was the importance of learning “new dance steps,” as US pre-owned aircraft sales returned to more normal trading conditions. “Sellers will need to dance again [with prospective buyers] to court them and be more fluid [to close sales],” said Matt Rosanvallon, director Sales and Acquisitions, Freestream Aircraft.

Speeding the supply of sustainable aviation fuel (SAF) was the focus of this conference of our SAF London conference.

Meanwhile, CJI Latin America drew nearly 300 business leaders in Latin American business aviation who shared their upbeat views on industry prospects for the region.

The last two sections deliver handy key information on modern business jets and asks Benoit Defforge seven key questions.

Jet Data delivers all the key numbers on the latest business jets. From price tags to performance metrics, our handy guide offers an at-a-glance summary of the market.

Finally, Benoit Defforge, CEO of private jet brokerage Stanton & Partners Aviation reveals how the Anglo French Concorde fired his passion for aviation. In Life in seven questions: Benoit Defforge, he explains how he got into business aviation, what was his best business decision and what advice he would give to his younger self.

Read the lastest version of Corporate Jet Investor Q2 2024, here. Also, you can sign up for your free print copy here.

The post CJIQ latest features HondaJet Echelon, Connectivity survey and more appeared first on Corporate Jet Investor.

 “Honda Aircraft Company has also announced that starting April 1st, 2024, Honda Aircraft Company will transition to a direct sales strategy in Japan,” said the company in a statement this week. “As part of this transition, Honda Aircraft Company will leverage JGAS’ expertise and customer knowledge to support HondaJet sales inquiries in Japan until further notice, with the inquiries being directly managed and fulfilled by Honda Aircraft Company’s sales team.” JGAS will take over the service operations previously managed by Marubeni Aerospace Co.

JGAS’ HondaJet maintenance network spans Japan with facilities in Tokyo and Kagoshima, HondaJet clients will benefit from increased convenience and reduced travel times for service needs, claimed the OEM. Also JGAS’ advanced parts supply system promises swift delivery of parts across the country, it added.

The changes are said to be part of Honda Aircraft Company’s (HAC’s) new worldwide strategy to improve accessibility and efficiency across customer support services.

Hideto Yamasaki, CEO and president, HAC welcomed the new partnership with JGAS, saying it would help to maintain a strong relationship with the HondaJet community in Japan.  “We also extend our deepest gratitude to Marubeni Aerospace for their dedication and service over the years,” said Yamasaki. “The partnership has been instrumental in shaping the HondaJet experience for customers in Japan, and we look forward to building on this legacy with the new partner.”

HAC pledged to deliver a smooth transition and is working to ensure HondaJet customers are fully supported during and after the change “guaranteeing uninterrupted service and support for the local HondaJet community”, it said.

HAC reports a 20% increase in flight activity across Asia last year with Japan leading the region. Worldwide the global fleet has logged more than 210,000 flight hours with over 250 aircraft worldwide.

Meanwhile, don’t miss CJI’s Big Interview with Amod Kelkar, senior vice president and chief commercial officer, HAC in the next edition of Corporate Jet Investor Quarterly.

JGAS’ office in Haneda near Tokyo.

The post Honda Aircraft Company launches direct sales in Japan appeared first on Corporate Jet Investor.

David Guetta’s 2011 Titanium is one of those songs that gets stuck in your head. (Apologies if this has now happened).
Aircraft and engine manufacturers have also been obsessed with titanium since the illegal Russian invasion of Ukraine.

Before February 2022, aircraft manufacturers would regularly meet with Russia’s VSMPO-Avisma – a state-owned metals company – to buy titanium. Now they will not even answer its calls.

Titanium alloys are an aircraft and aircraft engine designer’s dream – featuring high-tensile strength-to-density ratio, corrosion resistance, crack resistance and their ability to withstand high temperatures. Kings Research values the current market at $4.14bn – it estimates it will reach $7.01bn by 2030. About 30% of all titanium sponge (the first stage in titanium processing) ends up in aviation.

Russia’s VSMPO supplied a quarter of all the world’s titanium on its own. It was the biggest single titanium supplier to both Airbus and Boeing. But aircraft manufacturers have successfully managed to cut this reliance remarkably quickly.

Outside Russia, leading suppliers of titanium ores are Australia, Canada, China, Kazakhstan and Mozambique. Norge Mining, an Anglo-Norwegian company, has recently announced a significant new titanium discover in Norway.

“Boeing has been pretty successful at continuing to source precious metals for our production needs, due to its diversified supply chain,” Alex Fecteau, director of Marketing, BBJ told CJI. “Our inventory and diversity of titanium sources provide sufficient supply for airplane production, and we continue to take steps to ensure long-term continuity.”  Boeing buys most of its titanium from the US.

Outside Russia, leading suppliers of titanium ores are Australia, Canada, China, Kazakhstan and Mozambique. Norge Mining, an Anglo-Norwegian company, has recently announced a significant new titanium discover in Norway.

Honda Aircraft Company says the scarcity of less precious commodities was more pressing, according to Amod Kelkar, chief commercial officer and vice president Customer Service. For example, sourcing polyurethane foam and carbon fibres was proving difficult. “Supply chain challenges are not something we face directly but indirectly through our suppliers,” Kelkar told us.

Embraer Executive Jets has seen the same. “The supply chains are challenged but we do a really good job of making stock available,” Michael Amalfitano, president and CEO told us. “You move products around and we moved titanium, so it [shortages] is not impacting anything seen at this time. There will be stresses in the system – but it’s more a question of logistics.”

The US sanctioned VSMPO in September 2022. But by then, manufacturers had already largely stopped buying.

Didier Kayat, CEO of turboprop manufacturer Daher, agrees: “We had an issue with titanium. But there is no issue with titanium anymore.”

As aircraft purchasing managers can sing: “You shoot me down, but I won’t fall. I found titanium.”

The post I am titanium appeared first on Corporate Jet Investor.

To qualify for the accreditation, Certified Pre-Owned, each HondaJet must first pass a full, pre-purchase inspection covering more than 208 points on the aircraft. All HondaJets that meet the certification standards will receive one initial pilot type rating and a Honda parts and service credit equal to six months of either the P2 and P3 maintenance programmes.

All CPO aircraft will also be included on the manufacturer’s FlightReady and Engine Maintenance Care programmes, which are transferable to the purchaser. The programme facilitates direct collaboration with the company’s factory-employed sales professionals who are the foremost product experts on the HondaJet and the light jet market.

The commitment from the beginning of the ownership experience reflects Honda Aircraft’s dedication to customer satisfaction throughout the entire ownership lifecycle, according to the company. “Reserved exclusively for pre-owned aircraft that meet our most stringent requirements, the designation of Certified Pre-Owned ensures the customer is receiving the highest quality, most up-to-date version of the aircraft,” it said.

The new CPO programme is available to customers across the Americas, Europe, and Asia through the company’s authorised sales network. Customers can access both the certified and non-certified pre-owned HondaJet inventory on the company’s official website.

Amod Kelkar, chief commercial officer, Honda Aircraft Company said pre-owned aircraft have become an increasingly important entry point for  HondaJet owners. “The CPO programme extends our commitment to excellence to all aspects of the long-term ownership experience and ensures that all HondaJet owners, both current and future, will have the best ownership experience and peace of mind, regardless of their position in the ownership journey,” said Kelkar.

The global HondaJet fleet exceeds 185,000 flight hours and has grown to more than 230 aircraft.

Meanwhile, last month Honda Aircraft Company revealed its plan to launch of the HondaJet 2600 Concept aircraft in 2028.

The post Honda Aircraft Company launches pre-owned jet programme appeared first on Corporate Jet Investor.

The company first unveiled its HondaJet 2600 Concept back at NBAA-BACE in 2021. Last week it issued a press release saying that it will “commercialise” the aircraft. It aims to have it certificated by 2028.

This is not a formal launch. Honda Aircraft is not taking orders for the new aircraft and it has not announced the price.

Presumably, this announcement is an attempt to firm up demand from customers who are interested in owning a light jet that can fly four passengers 2,625nm. If it achieves this (it is saying that this is target performance) it will be the first light jet able to fly across the US.

Few people will choose to do this. The cabin is longer and slightly larger than the first HondaJet, but five hours or six hours is a long time in a cabin that is 5.08ft (1.55m) high by 5.21ft (1.59m) wide. Charter passengers attracted by trans-continental low rates may try it once but will switch to mid-size aircraft if they can afford it. Owner-pilots (a niche market) will love this range. Even if their families in the back do not. But buyers love long maximum ranges – even if they never fly it.

“Maximum range sells aircraft but is rarely used in real world operations,” says Oliver Stone, MD, Colibri Aircraft. “However, the need to swap out fuel for passengers and still go a long way is something that operators are continually faced with. Other aircraft often struggle with the crucial three-to-four-hour flight with several people on board. This has the potential to do this requirement capably.”

Embraer’s Phenom 300 and the Pilatus PC-24 have four-passenger range of 2,000nm.

“I would love to see Honda’s market research,” says Dustin Cordier, head of global sales, OGARAJETS. “I would go for a bigger cabin. We just had 24 months of first-time buyers who were very focused on the cabin. This is why we saw so many Hawker 900s, Learjet 60s and G200s sold. If I were an OEM, I would be looking at this market where there is no competition and Part 135s would eat the aircraft up.”

Honda Aircraft Company says that it is now finalising the aircraft design and has started some fabrication. It held supplier meetings at its Greensborough headquarters this week.

It looks like the new aircraft will have far less commonality with the first HondaJet than most manufacturers aim for. Not only is the tube a different size from the first HondaJet, but the HondaJet 2600 fuselage will be made by Spirit AeroSystems rather than GKN. “This is a big surprise to me as it means it won’t get economies of scale or volume pricing,” says one former Honda Aircraft executive.

Honda Aircraft is also not using its own engine for the HondaJet 2600. It has chosen Williams International’s FJ44 which powers the rival PC-24 and Textron Aviation CJ4 Gen2. The company has always had a close relationship with Williams.

Honda Aircraft says that the new light jet will “deliver unparalleled fuel efficiency, with up to 20% better fuel efficiency compared to typical light jets, and over 40% better fuel efficiency than medium-sized jets during a typical mission”. It is not clear how it has calculated the first figure, especially as it is using an existing engine.

Entering the light jet market may seem like a natural move but it is still brave. Honda Aircraft says that existing HondaJet customers have asked for extra range but not every very light jet owner can afford to pay twice as much for a light jet. Honda Aircraft is also competing against existing light jets and loyal customers bases.

“Honda Aircraft is still a bit of a peripheral brand compared to other manufacturers. Few buyers come to us mentioning Honda but they do like the aircraft when we introduce it,” says Emily Deaton, chief executive, jetAVIVA. “The brand is not yet front of mind.”

Textron has thousands of Citation Jet owners. There are 385 Phenom 100s and 716 Phenom 300s flying, according to AMSTAT. Pilatus also has a fantastically loyal customer base. AMSTAT says that the active HondaJet fleet is 228 aircraft – it delivered 17 aircraft in 2022.

Honda Aircraft started working on the concepts and high-level drawings for the H2600 in early 2019. Getting a new aircraft approved by 2028 is ambitious – but it also gives competitors the opportunity to respond. “It’s an interesting offer – and some existing HondaJet customers have asked for range, but it is five years away from service which gives Embraer, Pilatus and Textron time to adapt their products,” says Deaton. “I am not saying that they will necessarily be able to add 600nm to a Phenom 300 or a CJ4 Gen2 but we have seen other manufacturers successfully improve existing products and they have got the time to do this.”

The first HondaJet is an exciting aircraft, and the HondaJet 2600 Concept will no doubt continue to surprise us when we find out more about it. Including the aircraft’s new name.

This is from Corporate Jet Investor’s One Minute Week email – you can sign up for free here

The post Honda’s long-range light jet appeared first on Corporate Jet Investor.

The company first unveiled its HondaJet 2600 concept back at NBAA-BACE in 2021. This week it issued a press release saying that it will “commercialize” the aircraft. It aims to have it certificated by 2028.

This is not a formal launch. Honda Aircraft is not taking orders for the new aircraft and it has not announced the price.

Presumably, this announcement is an attempt to firm up demand from customers who are interested in owning a light jet that can fly four passengers 2,625 nautical miles. If it achieves this (it is saying that this is target performance) it will be the first light jet able to fly across the US.

Few people will choose to do this. The cabin is longer and slightly larger than the first HondaJet, but five hours or six hours is a long time in a cabin that is 5.08ft (1.55m) high by 5.21ft (1.59m) wide. Charter passengers attracted by trans-continental low rates may try it once, but will switch to mid-size aircraft if they can afford it. Owner-pilots (a niche market) will love this range. Even if their families in the back do not. But buyers love long maximum ranges – even if they never fly it.

“Maximum range sells aircraft but is rarely used in real world operations,” says Oliver Stone, managing director, Colibri Aircraft. “However, the need to swap out fuel for passengers and still go a long way is something that operators are continually faced with. Other aircraft often struggle with the crucial three-to-four-hour flight with several people on board. This has the potential to do this requirement capably.”

Embraer’s Phenom 300 and the Pilatus PC-24 have four passenger range of 2000nm.

“I would love to see Honda’s market research,” says Dustin Cordier, head of global sales, OGARAJETS. “I would go for a bigger cabin. We just had 24 months of first-time buyers who were very focused on the cabin. This is why we saw so many Hawker 900s, Learjet 60s and G200s sold. If I were an OEM, I would be looking at this market where there is no competition and Part 135s would eat the aircraft up.”

Honda Aircraft Company says that it is now finalising the aircraft design and has started some fabrication. It held supplier meetings at its Greensborough headquarters this week.

It looks like the new aircraft will have far less commonality with the first HondaJet than most manufacturers aim for. Not only is the tube a different size from the first HondaJet, but the HondaJet 2600 fuselage will be made by Spirit AeroSystems rather than GKN. “This is a big surprise to me as it means it won’t get economies of scale or volume pricing,” says one former Honda Aircraft executive.

Honda Aircraft is also not using its own engine for the HondaJet 2600. It has chosen Williams International’s FJ44 which powers the rival PC-24 and Textron Aviation CJ4 Gen2. The company has always had a close relationship with Williams.

Honda Aircraft says that the new light jet will “deliver unparalleled fuel efficiency, with up to 20% better fuel efficiency compared to typical light jets, and over 40% better fuel efficiency than medium-sized jets during a typical mission.” It is not clear how it has calculated the first figure, especially as it is using an existing engine.

Entering the light jet market may seem like a natural move but it is still brave. Honda Aircraft says that existing HondaJet customers have asked for extra range but not every very light jet owner can afford to pay twice as much for a light jet. Honda Aircraft is also competing against existing light jets and loyal customers bases.

“Honda Aircraft is still a bit of a peripheral brand compared to other manufacturers. Few buyers come to us mentioning Honda but they do like the aircraft when we introduce it,” says Emily Deaton, chief exec, jetAVIVA. “The brand is not yet front of mind.”

Textron has thousands of Citation Jet owners. There are 385 Phenom 100s and 716 Phenom 300s flying, according to AMSTAT. Pilatus also has a fantastically loyal customer base. AMSTAT says that the active HondaJet fleet is 228 aircraft – it delivered 17 aircraft in 2022.

Honda Aircraft started working on the concepts and high-level drawings for the H2600 in early 2019. Getting a new aircraft approved by 2028 is ambitious – but it also gives competitors the opportunity to respond. “It’s an interesting offer – and some existing HondaJet customers have asked for range, but it is five years away from service which gives Embraer, Pilatus and Textron time to adapt their products,”says Deaton. “I am not saying that they will necessarily be able to add 600nm to a Phenom 300 or a CJ4 Gen2 but we have seen other manufacturers successfully improve existing products and they have got the time to do this.”

 The first HondaJet is an exciting aircraft, and the HondaJet 2600 Concept will no doubt continue to surprise us when we find out more about it. Including the aircraft’s new name.

The post Honda’s long-range light jet appeared first on Corporate Jet Investor.

Capable of a maximum cruise speed of 450ktas, the new jet will be able to carry one crew and 10 passengers or two crew and nine passengers. The aircraft’s range with one crew and four passengers is predicted to be 2,625nm. Aiming to be the first light jet capable of nonstop US transcontinental flight, the new design, will have a maximum cruise altitude of FL470 (47,000ft). Cabin altitude is cited as 6,363ft.

After type certification expected in 2028, the new product line will be offered alongside the manufacturer’s very light jet model, the HondaJet Elite II.

A key element of the design is its ability to deliver “unparalleled fuel efficiency”, according to the manufacturer. The new light jet is said to cut carbon emissions by achieving up to 20% better fuel efficiency compared with typical light jets and more than 40% better fuel efficiency than medium-sized jets during a typical mission.

Hideto Yamasaki, president and CEO, Honda Aircraft said the commercialisation of the new aircraft will “expand the potential of people’s lives” and marks a new chapter for the manufacturer. “By building on the expertise behind our technological innovations, we will accelerate the development of the programme with sustainability a key element throughout,” he said.

The cockpit of the new jet features autothrottle, autobrake, Advanced Steering Augmentation System (ASAS) and Runway Overrun Awareness and Alerting System (ROAAS).

Delivering 3,600lbs of thrust, the Williams FJ44-4C turbofans also power the Cessna Citation CJ4 and Pilatus PC-24. The Williams FJ33 turbofan, which powers the Vision Jet, delivers about 1,846lbs of thrust.

In addition to partnerships with Williams for the engines and Garmin for the electronics, Honda is working with Aernnova for aerostructures and components and Spirit AeroSystems for the fuselage. Construction of the airframes is said to be underway.

Meanwhile, Wichita-based Spirit AeroSystems confirmed its partnership covering its build-to-print composite fuselage and a composite bonded frame. Alex Bellamy, vice president of Regional and Business Jet Programs, Spirit AeroSystems said: “This agreement expands our Regional and Business Jet portfolio and is a testament to our expertise in advanced materials and processes.”

HondaJet 2006 Concept – at a glance

• Engines: Two Williams International FJ44-4C
• Avionics: Garmin GS3000
• Configuration: one crew and 10 passengers or two crew and nine pax
• Max cruise speed: 450 KTAS
• NBAA IFR range (one crew and four pax): 2,625nm
• Max cruise altitude: FL470
• Sustainability: Claimed to deliver up to 20% better fuel efficiency compared with typical light jets and over 40% better than medium-sized jets.

The post Honda Aircraft plans 2028 launch of HondaJet 2600 Concept appeared first on Corporate Jet Investor.

Jet It grounded its 21-strong fleet of HondaJets on Friday May 19th. Initially, the company blamed safety problems with the HondaJet aircraft but later went on to also ground its Phenom 100 aircraft. On Wednesday May 24th, Jet It told owners it would no longer operate their aircraft.

Responding to questions raised by Jet It about the safety of HondaJet aircraft, Amod Kelkar, the manufacturer’s chief commercial officer and vice president, Customer Service said: “The HondaJet remains a reliable and safe aircraft to operate, and we reaffirm our confidence in the aircraft’s safety through our engineering and analysis.”

Honda also revealed today it had formed a team to help Jet It owners find alternative aircraft management options for their aircraft. The manufacturer is to provide fractional owners with free aircraft parking at its headquarters in Greensboro, North Carolina for up to 90 days. The offer includes the provision of pilot services to relocate the aircraft to the Honda Aircraft Company’s facility. The offer is intended to ensure a smooth transition for impacted fractional owners of the HondaJets, said the light jet manufacturer.

“We understand the challenges faced by fractional owners who have been impacted by the suspension of their aircraft management after being released from contract by Jet It and are now seeking alternative arrangements,” said Kelkar from Honda Aircraft Company . “Consistent with our dedication to customer satisfaction, we have developed and established this assistance plan for those HondaJet owners in need of additional support during this transition period.”

Volato reported significant interest in its services from Jet It owners after the fleet was grounded. The fractional firm is offering HondaJet owners short-term leases and relocation pilots, Volato told Corporate Jet Investor. Don’t miss our One Minute Week newsletter for the latest insight on what the Jet It suspension means for the private jet industry.

The post Honda Aircraft Company and Volato offer lifeline to Jet It owners appeared first on Corporate Jet Investor.

The latest aircraft from the manufacturer will be on display until the end of today (May 23rd).

“Debuting our latest aircraft at EBACE marks an important milestone for everyone at Honda Aircraft Company,” said Hideto Yamasaki, president & CEO, Honda Aircraft. “The HondaJet Elite II continues our dedication to exceeding the expectations of customers worldwide by setting new standards in performance, efficiency and comfort for the future of very light jets.”

With a range of up to 1,547 nautical miles, the Elite II is Honda’s most fuel-efficient jet to date, according to the firm.

The aircraft has received type certification from the US Federal Aviation Administration (FAA) and is expecting the European Union Aviation Safety Agency (EASA) type certification soon.

Meanwhile, very light jets (VLJ) were forecast to achieve average Compound Annual Growth Rate (CAGR) of 5.6% over the next five years, according to a recent report from Global Jet Capital. “The low price of VLJs makes them appealing to many buyers, especially first-time owners,” predicts the report New and Pre-owned Business Jet Transaction Forecast. “Although light and medium jets will grow more slowly than heavy jets and VLJs.”

Read the full report here.

The post Honda Aircraft Company debuts the HondaJet Elite II at EBACE appeared first on Corporate Jet Investor.

The firm order will be delivered incrementally, with the jets set to be delivered from 2023 onwards. When complete, the company will have a total fleet of 42 HondaJets, up from its fleet of 17 this year.

Matt Liotta, CEO, Volato told Corporate Jet Investor (CJI): “We’ve been in talks with Honda for a bit of time because we did see demand in the market for ordering more planes.”

Liotta said there is demand for light jets like the HondaJet Elite II and Phemon 300 in the fractional market. “In the fractional space, the other popular plane is the Phenom 300 and NetJets announced that they were ordering 100 of those. So, that is just is another datapoint for the demand that exists for shares,” he told CJI. “In many ways the same customers for the Phenom 300 are also our customers for the HondaJet.”

The CEO said customers can immediately buy shares in the new jets but won’t have to wait for delivery to have access to Volato’s fleet. “Waiting until 2024 or beyond is a really long time when people need to fly now, so we accommodate that as soon as they sign their agreement to purchase the share,” he said. “Whatever the delivery date is, we’ll give them access to our existing fleet immediately.”

Liotta added: “We have a great relationship with HondaJet and we’re excited to make this order and continue this great relationship for years to come.”

Volato and Honda Aircraft Company worked together to “improve the cabin experience” on the jets due for delivery, according to the firm. The first aircraft featuring the cabin improvements will be delivered late next year.

Last month, Volato announced it was releasing 100 additional Stretch jet cards, which aim to reward flexibility in charter booking.

At the CJI Miami 2022 conference, NetJets announced that it will take 100 new aircraft next year.

Liotta also spoke at the conference. You can watch his panel below.

The post Volato orders 25 HondaJets due to increasing demand appeared first on Corporate Jet Investor.