Alexis Fecteau, the marketing director of Boeing Business Jets, recently highlighted why interest in business jets is more robust than evercontinues to be robust before while speaking at the world-renowned 2020 Corporate Jet Investor Conference in London.
(PRUnderground) February 24th, 2020
Fecteau was one of several distinguished industry speakers invited to speak at the conference hosted by Corporate Jet Investor, a global event organizer and digital publisher that made its debut in 2010. The company’s annual London conference again connected members of the aviation private business aviation industry around the world.
Fecteau’s Highlights at the Conference
While at the Corporate Jet Investor conference, Alexis Fecteau identified Boeing Business Jets’ clients as ultra-high-net-worth individuals, who constitute 50% of their market. These individuals usually have income over a billion dollars. Another 30% of their buyers are heads of state while approximately 20% of customers are charter operators.
According to Fecteau, the BBJ is the ultimate business jet, the pinnacle of private aviation both for luxury and business. The BBJ, often called the Rolls Royce of the skies, is more capable than any other jet in its class, saving time for executives, allowing the space to do business, relax, shower, dine, and arrive refreshed.
Additional Conference Highlights
Alexis Fecteau said at the conference that Boeing Business Jets’ clients buy the company’s products because they value the enormous premium of space aboard its jets compared with other large business jets. For instance, BBJs have more than double the room of traditional ultra-large or long-range business jets, featuring space for security contingents, private rooms, space for family, and full showers, among other amenities.
According to Fecteau, the operating costs associated with BBJs are similar to those of much less capable long-range business jets. In addition, training costs and parts prices are a fraction of the costs of jets such as Embraer, Dassault, Bombardier, and Gulfstream, whose costs can often be up to 10 or more times that of a BBJ.
BBJs also stand out for their superior residual values, according to Fecteau. For instance, the long-term rate of depreciation for BBJs is around 3%, whereas the rate is an average of 9-11% for traditional ultra-large business jets. Thus, people who spend $2 million per year in operating costs for both types of plans lose as much as $2-4 million more per year in depreciation with smaller business jets versus BBJs. In addition, over a 10-year ownership period, they can retain tens of millions of dollars more in asset value with BBJs.
During the conference, Fecteau did highlight that the BBJ’s cost of entry is high. However, if a client can afford an ultra-large Gulfstream or a Global 7500, he or she can well afford a BBJ, and will be better off by millions of dollars for the investment.
About Alexis Fecteau
Original Press Release.