Travelling man with a million air miles

Buyers in different countries range from those who leave major negotiations to the last minute to others who leave nothing to chance and finalise every detail before contracts are drawn up.

Andrew Hoy, md of ExecuJet Aircraft Trading, adds: "I have delivered an aircraft including registration change within six weeks of first seeing it (GIVSP last year) and had a Challenger 604 take four months in pre-buy before delivery. It is a considerable battle with buyer and seller at that point!"

Hoy adds: "In the 'good old days' once an LOI was signed, the deal was done! Nowadays, it's the opposite, and signing an LOI means the trouble starts and as a broker you play 'Kofi Annan' between buyer and seller, keeping all on track. PPI differences need to be thrashed out early, location, who pays for what part, depth of inspection. After that's agreed, little goes wrong as all airworthiness items get fixed by seller and therefore aircraft can be in delivery condition to satisfy terms of APA. Otherwise, issues such as who pays delivery, export C of A to destination country all get in the way."

Hoy says: "I used to have a lot more hair. Last year I had 60 days at home. I am permanently jet lagged but have over a million air miles. Work never stops and asking for holiday is just like asking for permission to work in shorts. It cannot switch off. It is stressful but when you're on top of the game, extremely rewarding. I deliver all the aircraft to my clients and seeing them smile when we turn up is the best part of the job." Hoy says: "You have to listen to what the client needs, how many passengers, range requirements, expected maintenance costs, charter revenue possibilities, and then advise in the best way. If they are set on a specific aircraft, it is our job to suggest there could be better alternatives out there, but if they want it, we make it the best we can. It is very rare that a buyer does not listen to specialist advice so, fortunately, this doesn't happen often."

Buyers pay for demo flights but, if the sale progresses, the costs come from the sale price. Hoy says: "Assessing seriousness comes from a mix of 70 per cent gut feeling, 20 per cent research into the principal and 10 per cent luck."