Everyone agrees; the world is different post the 2020 shutdowns. The pandemic was beneficial for some sectors and detrimental for others. So, how is the landscape regarding importing a business jet different?
According to our research team, the U.S. contributed 73.6% of all 2020 transactions, excluding internal transactions, reaching levels not seen in more than a decade, as shown in Figure 1-1.
Moreover, most sales professionals consider 10% of the business jet fleet for sale to represent a market balance between seller and buyer. Recent trends show 6.4% of the business jet fleet for sale as of mid-June 2021. These are clear indications of an increase in demand coupled with a market shortage. Some buyers may be considering broadening their search overseas. This is because younger models are being purchased faster than the market can replenish.
Importing a Business Jet
Importing a pre-owned aircraft is more complicated than one may initially think. It can not only become a logistical conundrum, but it can also spur regulatory & legal proceedings.
Most common challenges include, but are not limited to: language and cultural barriers, assembling documentation on the aircraft’s flight and maintenance history, audit of said documentation, legal implications, conformity standards, exporting requirements along with a certificate of airworthiness & U.S. N-registration, ferry permits if additional maintenance must take place in the U.S. before receiving this final certificate of airworthiness, filing of customs and border protection forms 3461 and 7501 as required by the port of entry, submission of a Customs Bond, and the payment of duties, taxes, and fees.
You Need a Qualified Sales Executive
These are a few required items. Nevertheless, which one happens first?
One can easily get lost in the list of requirements and best practices. For example, it is best practice to import the aircraft before pre-buy begins. A Certified Service Center must do any prescribed maintenance before receiving a final certificate of airworthiness. However, if the U.S. buyer rejects the deal upon the pre-buy inspection, the aircraft must be exported out of the U.S., increasing the list of requirements and costs. You want to mitigate any surprises and protect yourself from any undesired liability when dealing with such high-value assets. Therefore, you need a qualified sales executive in your corner.
Leviate is an Industry Leader Ready to Serve You
In conclusion, to accomplish an international transaction like importing a business jet, you need a qualified sales executive on your side. There are multiple logistical, legal, and regulatory hurdles to overcome from the exporting and importing countries.
Finding a broker with international expertise will ensure a team of professionals is ready to coordinate the process carefully. Leviate Air Group is a coalition of industry leaders with extensive international experience. Leviate has built a world-class research team able to assess the global market accurately. Its exceptionally skilled sales executives are part of an elite global network and can find you the best off-market deal. Not only do the best legal minds in the industry back Leviate, but it also has strong banking relationships. Additionally, the experience of industry maintenance veterans able to render pre-purchase inspections at a moment’s notice is the firm foundation of Leviate’s international operations. All these synergies qualify Leviate Air Group to facilitate all your aviation goals, notably importing the right aircraft for you.
If you want to charter, buy, or sell a private jet, contact us today to let us know how to assist you. Let us use our expertise to help you with all of your needs.
Since 2014, Leviate has provided the private aviation world with a standard-bearer in service, client satisfaction, and real-world aviation experience. As an ARG/US Platinum FAA Certified operator, Leviate is a definitive leader in the private aviation industry.
