Global Jet Capital, a provider of financing solutions for private jets, has announced plans to recruit around 13 business aviation origination professionals, the majority of whom will be based outside the US. The company estimates that around 225 medium-size and heavy business aircraft are bought outside of the Americas every year, requiring over $7.25 billion in finance, and it is positioning its new team around the globe to meet this demand for financing.
The recruitment drive follows news earlier this month that industry veteran Dave Labrozzi joined the company as chief operating officer (COO). He had previously spent 35 years working at GE, where he spent the last 15 years leading the company’s financing activity in the sector as president of GE Capital, Corporate Aircraft.
Global Jet Capital was launched in 2014 and is capitalized by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners*; The Carlyle Group; and AE Industrial Partners.
In October last year, Global Jet Capital announced plans to purchase GE’s corporate aircraft lease and loan book in the Americas, worth over $2 billion. This acquisition is now 90% complete, with the intent of completing the remaining 10%, which consists of accounts in Mexico and Brazil, by the end of January 2016.
Shawn Vick, Executive Director of Global Jet Capital, said: “Since our launch, we have experienced strong growth and now have a significant number of aircraft on our books representing multiple models across all manufacturers. However, nearly all are based in North America - a region which accounts for over half of the world’s fleet of private aircraft. “We currently have well over $1 billion available for lending and leasing solutions, and we now need to place a greater focus on other geographical markets.”
Global Jet Capital’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.
If a private aircraft operating lease is right for you, call us at 888.436.8200 or contact one of our management team members here.