Business takes off at The Jet Business
Feb. 7, 2012, London, U.K. - Steve Varsano’s mission to revolutionize the way pre-owned business aircraft are traded is off to strong start. Within the first month of formally opening the windows at The Jet Business, he and his 14-strong team, have welcomed a diverse range of ultra high net-worth individuals from all over the world – including India, China, Abu Dhabi, Dubai, Saudi Arabia, Canada, Switzerland, Israel, France, Nigeria and Monaco.
The company has doubled the number of pre-owned aircraft it has on exclusive listings in its marketing portfolio. It has even turned down offers to market aircraft where sellers had unrealistic expectations. “We are building up a significant pipeline of interest and are in various stages of the acquisition process with different clients, he says. "Without a doubt, the highly visible location of this showroom and the unique technology we are showcasing within is playing a huge part in this success. Furthermore, the word of mouth recommendations and the endorsements we’ve received from the industry has led to some significant new introductions which we would not have had access to so easily before. During the weekends we have entertained serious international clientele visitors here. It’s a first class problem to have."
Steve Varsano will be participating at the second annual Corporate Jet and Helicopter Finance Conference in London this week to talk about the current market in the pre-owned business jet market. “The sweet spot we are seeing interest in is in the super mid-size, long and ultra-long range business jets” says Varsano. Acknowledging the light end of the jet market is not as robust as the upper end, the large cabin, long-range models aircraft are in more demand than ever and leading that interest are buyers from the emerging markets in the BRIC countries. Over 60% of new aircraft sales are now from outside the US and some 35% of new sales of ultra-long-range business jets have come from China,” he notes.
Since its opening The Jet Business has also fielded requests from clients who want new positions on brand new business jet models. We are finding that they come to the showroom, view a whole range of aircraft types on our giant electronic video wall and come away enthused about an aircraft type that they hadn’t previously considered – The Jet Business’ unique iPad app displays full-size comparative fuselage cross-sections, aerial views and performance specifications on the widest range of business jet aircraft available on the market today.
Steve Varsano’s commitment to launching the first consumer brand in business jet trading with his store front showroom at 1 Grosvenor Place, London, stems from his belief that business aviation and its clientele base can expand dramatically if customers (especially from the new emerging markets) have more knowledge about how to go about purchasing or leasing a jet and expose all the options open to them as well as market aircraft in a way that has never existed before. Varsano brings three decades of global experience brokering aircraft. Since 1980 he has brokered more than 300 aircraft transactions with a combined value over US $3 billion, representing both buyers and purchasers.
A graduate from Embry Riddle Aeronautical University, Steve Varsano started his aviation career with the General Aviation Manufacturers Association (GAMA), overseeing the statistics forecasting and Airport Airways Committee, before starting to trade business aircraft. He worked with different U.S. based aircraft sales companies and directly for the same type of Ultra High Net Worth clients he works with today in the merchant and investment bank industry before launching his own company that eventually evolved in to The Jet Business.