OGaraJets co-founder and leader of the business aircraft resale industry John Foster III has been presented with the Lifetime Achievement Award from the International Aircraft Dealers Association (IADA). The award was in recognition for Foster's 50 years in aviation sales while serving as a model of professional standards for the entire industry.
Over 30 years ago, Foster was a founding member of the National Aircraft Resale Association, IADA's predecessor organisation. The association's Lifetime Achievement Award was presented to Foster at IADA's annual spring meeting attended by more than 300 of his peers from throughout the global industry.
“John Foster is an icon who is trusted, admired and emulated throughout the entire business aircraft resale industry,” says IADA executive director Wayne Starling, who presented Foster with the award. “A decorated Navy pilot, he successfully transitioned to general aviation and became a truly respected, very successful and well-known entrepreneur in private aviation. John Foster's mantra has always been, 'Do the right thing, always'."
Foster remains active at OGaraJets, which he co-founded and is now headed by his son Johnny Foster. The Lifetime Achievement Award recognises John's exemplary embodiment of IADA's purpose and mission throughout his career. Foster is also a founding member and past president of the National Aircraft Resale Association (NARA).
Foster's resale industry business practices have helped to influence and shape the entire aircraft transaction industry. Foster and IADA's shared mission is to be the acknowledged leader in developing standards for efficient, effective and ethical business aircraft transactions, valued by highly skilled aircraft transaction professionals.
Following his service in the Vietnam War, decorated Navy carrier fighter pilot John Foster III moved from the military to join the general aviation community in 1973. He initially worked at Atlantic Aviation and Rockwell aircraft sales, and later became a leading sales representative at Beechcraft. In 1980, he and his squadron-mate and close friend, Ed O'Gara, founded O'Gara Aviation Company.
The company enjoyed steady growth over the decades. The OGaraJets team provides a full range of aircraft brokerage, private jet acquisitions, management, leasing and operational services for its growing list of clients in the US and around the globe. The company has formed longstanding relationships with key personnel at major manufacturers including Gulfstream, Bombardier, Dassault Falcon, Cessna, Embraer and Hawker Beechcraft. In addition, the OGara team has formed business relationships with general aviation's most prominent lenders, legal experts, maintenance facilities and aircraft refurbishment providers. The team has also provided leadership within the pre-owned jet broker/dealer community.
As an inventorying dealer for corporate jets, not merely a broker, OGaraJets has an ownership perspective that benefits its clients. The company is able to expertly evaluate operational and performance issues and provide insight on the true, total cost of aircraft ownership. It also has the financial strength to purchase trade-in aircraft, often a key factor in facilitating a transaction.