Marmor, a past president of the International Aircraft Dealers Association (IADA), has been involved in aircraft sales for almost 25 years.

“We are privileged to welcome Zipporah to the Opus team,” says Alexandre Lombard, CEO and owner, Opus Aero. “Her extensive experience and proven track record make her an invaluable asset as we embark on our next chapter of growth in North America.”

Marmor started her career at Bombardier in marketing before moving to aircraft sales. She then worked as vice president of sales for NewJet International – then Bombardier’s representative for Monaco, Italy, and Switzerland. She joined ACASS in 2012 rising to vice president of aircraft transactions.

“I am excited to work with Alexandre and the whole Opus team, to expand our footprint in North America,” said Marmor. “Developing our market in the USA and Canada, leveraging Opus’ outstanding reputation and experience, is a natural progression for me.”

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Joby Avation, Vertical Aerospace and Archer Aviation are just three of the pioneers in our feature. With next year earmarked as entry into service for the front runners, we examine how they raise capital, navigate their flight path through aircraft design, plan target markets and winning certification approvals. eVTOLS: Commercial take off in the 2020s?

CJIQ’s exclusive survey of the latest trends in private jet connectivity reveals a “Watershed moment”, according to our research partner Inmarsat. Our exclusive survey of nearly 100 private jet owners, charter operators, corporates, fractionals, brokers and advisers, uncovers the latest connectivity trends and preferences. We capture the current state of private jet aviation connectivity in just eight questions. CJI Connectivity Survey: Reveals ‘watershed moment’ 

Staying with connectivity, we explore how monitoring jet power plants in-flight can alert technicians to emerging problems in real time. This exciting new technology can improve engine efficiency, cut maintenance down time and costs and help to save lives, according to the leading manufacturers and other businesses we consulted. Engine connectivity: Revving up to reap the benefits

This edition also pays tribute to the late Athar Husain Khan, former secretary-general, European Business Aviation Association. Talking to colleagues and friends on both sides of the Atlantic, it’s clear business aviation lost a passionate advocate with the sad passing of Khan earlier this year. Remembering Athar Husain Khan

Three aviation businesses featuring in this edition are ACASS, EY Law and London Biggin Hill Airport. ACASS offers insight on aircraft management. Managing aircraft for clients is demanding at the best of times and even more difficult during a global pandemic, according to the Montreal company. (ACASS makes a second appearance in our Day in the Life section – details to follow). Aircraft management: Insight from ACASS

Legal specialists EY Law explains the three factors, it says, are influencing progress on sustainability in business aviation. The sustainability challenge: Three key drivers 

London Biggin Hill Airport takes centre stage in our Aircraft Family feature. Andrew Walters, who with his son Robert, runs the iconic Biggin on the Bump, recalls how the location has proved pivotal three times in his life. And how to navigate the potential benefits and pitfalls of managing a family aviation business. Aircraft Family: ‘Biggin Hill in my blood since 22’ 

We also report from Austria from the factory of jet interiors specialist F/LIST. We report how the business is creating a new world of shapeshifting cabin furniture, thanks to the novel materials it has created. F/LIST: Cabin shapeshifters save space 

Some 600 business leaders attended our London conference in February this year. The twin themes were the viability of business aviation and how to improve its sustainability record. We catch a flavour of both the debate and the many networking events delegates enjoyed.

CJI London 2023 and CJI London Party

We close this edition with planes and an industry personality. Jet Data delivers all the key metrics covering business jet performance, cabin and exterior dimensions and, of course, prices in our handy guide. Jet Data: The vital numbers you need to know.

The personality featuring in our popular Day in the Life feature is Zipporah Marmor, vice president Aircraft Transactions at aviation brokerage, management and services company ACASS. Here’s how Marmor juggles her role at ACASS, with her position as chair of International Aircraft Dealers Association (IADA) and motherhood before finding time to lift 250lbs weights for fun. We weigh up her busy day. Day in the Life: Zipporah Marmor, ACASS 

Meanwhile, you can read the Digital version of Corporate Jet Investor Quarterly Q2 2023 here. And why not register for your free copy of the print publication here. (If you enjoy reading our features, please share the link with friends and colleages). Plus if you would like to suggest a feature article for a forthcoming edition, please contact Mike Stones. And thanks for reading us.

Zipporah Marmor juggles her roles at ACASS and IADA with motherhood and lifting 250lbs weights.

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IADA members closed 239 transactions in Q1, down from 288 in the same period of 2022. Members ended the quarter with 197 aircraft under contract, compared with 259 in Q1 2022, with 52 of these transactions reporting lowered prices while only six did last year.

The report said this is due to replenishment of inventory levels and a “return to more rational pricing and valuations” amid continuing levels of customer interest.

The majority of IADA members predicted that all aircraft types will see a slight decrease in pricing over the next six months, with 64% of respondents predicting a slight decrease in mid-size and large jet pricing. Just over half (52%) predicted this for turboprop prices, while 63% expected to see light jets experience a dip in price.

As for supply, the majority of respondents expect a slight increase in availability of all aircraft types, with 69% expecting a slight rise in light jets, 67% in mid-size jets, 62% in turboprops and 60% in large jets.

Zipporah Marmor, chair, IADA said: “There is evidence that demand and supply forces are rebalancing with less frenetic activity, more realistic pricing and a slow but steady buildup of available inventory.”

She added: “Although specific low-time aircraft with attractive pedigrees continue to attract top-dollar, the overall market has begun to downshift from a peak characterised by accelerating prices and strong residual values.”

Although the market is beginning to rebalance, Wayne Starling, executive director, IADA said OEMs are still under pressure due to a build up of backlog and slowly recovering supply chains. He said: “Our organisation foresees a continuation of relatively tight market conditions through 2023, driven by customers who cannot or will not wait two or more years to receive their next aircraft.”

In 2022, IADA members reported the strongest year ever for private jet sales in the history of the association, closing 1,399 deals compared with 1,370 in 2021, although more deals fell through in Q4 than any other quarter in the year.

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The association has changed the standards for IADA accreditation. Previously, a dealership needed to have 50% of their brokers obtain and maintain IADA Certified Aircraft Broker status. Now, 80% of a dealership’s brokerage need to gain this status.

Each dealer will have until the end of 2024 to be in full compliance with the change.

The new standard was announced in an email to members from Zipporah Marmor, chair, IADA, alongside other changes including how annual accreditation fees are paid. Accreditation fees will now be paid on an annual basis.

IADA’s rules around ongoing education have also changed. New brokers that apply to take the Certified Broker Exam will now be required to sign up for IADA U, the association’s education programme which was launched at the end of 2020. The broker will be charged the annual IADA U fee on January 1st the year following certification.

Brokers will no longer have a 60-day grace period for meeting continuing education requirements, according to Marmor’s update. All IADA brokers must complete five Continuing Education Credits between January 1st and December 31st each year. If these requirements aren’t met by the last day of the year, certification will be suspended.

Signing off the email, Marmor said: “We continue to move from strength-to-strength, thanks to you, our members, and your active participation.”

In January, IADA’s members reported that 2022 was the strongest year for private jet sales in the history of the association, with 1,399 deals closed and $9.3bn in resale transactions.

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The frenzy that was present in the market since the pandemic is subsiding, according to Zipporah Marmor, vice president of Aircraft Transactions at ACASS and board chair at the International Aircraft Dealers Association (IADA).

She told Corporate Jet Investor (CJI) at CJI London 2023: “We will see a rationalisation of behaviour [this year]. The frenzy of the previous years has subsided for the most part. But we’re still in a really strong position with a great value proposition for our industry.”

Last year was the strongest year for private jet sales in the history of the association, with 1,399 deals closed and a resale volume of $9.3bn in sales for 2022. In its fourth quarter (Q4) report, IADA found that more deals fell through in Q4 than any other quarter in the year.

Marmor told CJI this was because buyers are being more cautious. “Everybody is watching the news and starting to think about the big R [recession] word and is it coming and how fast and how hard,” she said. “Those who didn’t have the real urgency to acquire were finding reasons perhaps to postpone a little bit.”

IADA’s executive director Wayne Starling also spoke to CJI at the London conference about a slowdown in the market, which you can watch here.

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Kuliavas will succeed Zipporah Marmor, vice president of Air Transactions, ACASS in the role, while she remains chair of the IADA organisation.

The committee, which was formed by Marmor, aims to grow the association’s profile across the globe and aid internationally-based dealers “in developing processes that ensure transparency and integrity in the sale of preowned aircraft”.

Wayne Starling, executive director, IADA said: “IADA is grateful for the leadership of Stan Kuliavas in continuing the mission that Zipporah Marmor began with the formation of the International Committee.

“Its members from around the world are dedicated to developing standards for efficient, effective and ethical business aircraft transactions.”

Kuliavas has been at the maintenance and sales company Levaero Aviation for 12 years. Before that, he previously worked at AirSprint Private Aviation as regional sales manager and director of Business Development. 

Earlier this month, IADA reported that 2022 was the strongest year for private jet sales in the history of the association, with 1,399 deals closed and $9.3bn in resale volume.

International Committee members – at a glance

• Pascal Bachman, senior vice president, Sales, EMEA, Jetcraft
• Kirk Blomgren, vice president and director of Aircraft Sales, Meisinger Aviation
• Franco Curiel, director, Aircraft Sales, Aerolineas Ejecutivas
• Ted Farid, chairman, JetHQ
• Stan Kuliavas, vice president, Sales and Business Development, Levaero Aviation Group
• Warren Lovell, senior operations controller, Shepherd Aero
• Jeffrey C. Lowe, director, Asian Sky Group
• Pat Searle, executive sales director, Elliott Jets

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True, nearly 1,400 deals were closed last year, up 2% from the previous year, according to the International Aircraft Dealers Association (IADA). The total value of pre-owned jet sales totalled $9.3bn, averaging about $8m per transaction.

But there’s growing evidence of a distinct cooling taking place. Sentiment about the market and projections for the next six months are both down, says IADA. More deals fell through in the fourth quarter (Q4) of last year than any other quarter in the record-breaking year, with 48 deals failing compared with 39 in Q4 2021.

That’s because buyers are becoming much more cautious, Zipporah Marmor, chair, IADA tells Corporate Jet Investor (CJI). “Everybody is watching the news and starting to think about the big r word [recession] and is it coming and how fast and how hard,” she says. “I think those who didn’t have the real urgency to acquire were finding reasons perhaps to postpone.”

Similarly, Donath Aircraft Services reports flat Q4 sales compared with the previous quarter and less than half the record deal volume achieved in the same period of  2021. In turn, inventory jumped by nearly a third from Q3, creating a more balanced market for the year ahead, predicts the company’s Pre-Owned Aircraft Quarterly Market Report.

While nobody wants a recession, the impact of the slowing economy is that we are already seeing the pre-owned business jet market cooling, which can benefit both buyers and sellers, Jim Donath, president, Donath Aircraft Services, tells CJI.

“Additional inventory will likely flow into the market and there will not be the acquisition pressure that creates one-sided transactions like we’ve seen in the last two years, where the seller has all the power,” he says. “More balance will create better transactions. Every seller wants the highest price possible, but they are also often acting as buyers, looking to replace the airplane they’re selling.” Donath says more inventory and a more balanced market will create a more fluid market, which is “more productive for everyone.”

Mike Dwyer, managing partner at aircraft brokerage firm Guardian Jet agrees that a cooling market is welcome news. “Prices are falling, down 10% already from an all-time high. Inventories are rising, recession is looming and inventories expanded from 1% in early 2022, 3% as we got into Q4, to their current level of 5%” he says.

“Historically, 5% of a fleet for sale is wonderful news. Our brokerage business is typically steady in rising and falling markets, it’s when they turn where we pause, as buyers expect prices to fall, and sellers have not quite reconciled to that reality.”

Dwyer says this pause is what decreases sales volume and increases inventory, causing prices to fall. “2023 inventories will continue to grow. But remember, they can still double to get back to what we consider a normal market; 10% of a fleet for sale,” he says in his Pre-Owned Jet Pricing Outlook.

As well as making the market more balanced and fluid, this new market dynamic allows buyers to be more methodical, according to Donath, rather than rushing into a deal due to pressure, as seen with high-net worth individuals recently.

“Buyers in this market will be able to conduct more thorough due diligence, so there are no surprises,” he says. “A buyer who has more choices as they enter the market is likely to acquire an aircraft that better suits their needs, which leads to a better ownership experience.”

Dwyer agrees, offering this advice: “For a buyer, time is on your side, and keeping abreast of the market for quality inventory is the order of the day. For an owner upgrading from an existing aircraft, time also works for you, where you save $2 buying for every $1 you lose selling.”

The private jet market is set up for a soft landing in a recession, providing it’s a mild one, says Donath. And, if we listen hard enough, a quieter market in 2023 could be music to everyone’s ears.

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In 2022, 1,399 deals were closed, up 2% from 2021 when 1,370 deals were recorded. Resale volume represented $9.3bn in sales for the year just ended, averaging about $8m per transaction.

Despite the record year, aircraft dealers say market conditions are cooling. Year-on-year (YoY) sentiment about the market and projection for the next six months were both down in Q4 2022 compared with Q4 2021.

Similarly, more deals fell through in Q4 of 2022 than any other quarter in the year. A total of 48 deals fell through in the final quarter, compared with just 39 in Q4 2021.

Zipporah Marmor, chair, IADA told Corporate Jet Investor more deals fell through because buyers are being more cautious. “Everybody is watching the news and starting to think about the big r word [recession] and is it coming and how fast and how hard,” she said. “I think those who didn’t have the real urgency to acquire were finding reasons perhaps to postpone a little bit.”

Wayne Starling, executive director, IADA said members have “slightly more modest expectations” for the resale market over the next six months compared with a year ago. He added that more moderate projections also applied for the aircraft finance and leasing market.

Austin Bass, market research manager, Ogarajets said: “Over the next six months, I believe we will continue to see market normalisation. I anticipate a more balanced market, with the majority of aircraft beginning to depreciate at slightly higher than pre-pandemic levels.” Bass added that pricing for high-time and legacy aircraft will likely fall the most, while pricing for newly-delivered aircraft will likely benefit from OEM backlogs.

IADA Fourth Quarter Report – at a glance

• Business jet sales market down YoY – Confidence fell from 4.1 out of 5 in 2021 to 3.6 in 2022
• Projection for business jet sales six months from now fell YoY – Sentiment in 2021 was 3.8, dropped to 3 in 2022
• Closed deals in Q4 went down YoY – 470 closed in Q4 2022, 501 closed in Q4 2021
• New acquisition agreements down YoY – 169 in Q4 2022, 210 in Q4 2021
• Aircraft retained to sell exclusively up YoY – 212 in Q4 2022, 134 in Q4 2021

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TAG appointed Piers Turner and Karl Mills to executive positions in the company. Turner, who joins from Air CM Global, has been appointed TAG’s new European Flight Operations director, while Mills who has been at TAG since 2014 has been made chief commercial officer.

“TAG is well known for setting the highest standards in safety, customer service and training, which align with my views and personal ambition,” said Turner, who will bring his 21 years of experience in the sector to his new bases at Malta and Farnborough, UK.

Mills, who was previously director of sales for TAG’s UK charter business, said the company’s “family philosophy” has helped his career progression. He said: “This translates into values that our customers certainly appreciate and which underlines TAG’s commitment to excellence in all aspects of business aviation.”

Meanwhile, IADA has appointed Zipporah Marmor as chair of the company, while Phil Winters has been made vice chair. Both will serve in their new roles for a year, effective from October 17th.

Marmor is also vice president of Aircraft Transactions at ACASS, having worked with the support service for more than a decade. Before ACASS, Marmor worked her way up from sales support manager at Bombardier to vice president of Sales, Marketing and Quality at New Jet International. Winters is vice president of Aircraft Sales and Charter Management for Western Aircraft.

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Most recently based in Savannah, GA as a sales development manager for Gulfstream Aerospace, Lakatos brings 10 years of business aviation experience to ACASS’s rapidly expanding global team.

“We have known and respected Trisha for a long time. Her experience, drive, and industry relationships make her the perfect fit for our ambitious plans for North American.”

Zipporah Marmor, vice president of Aircraft Sales at ACASS said: “We have known and respected Trisha for a long time. Her experience, drive, and industry relationships make her the perfect fit for our ambitious plans for North America.”

Lakatos will be based in Montreal and will focus her efforts on increasing ACASS’s business in the United States and Canada, where the company feels it has tremendous growth potential.

“ACASS has an incredible international reputation for both business aviation sales and support services, but remains a surprisingly well kept secret in North America. My goal is to let this market know what it has been missing,” added Lakatos.

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