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The Cessna CitationJet, or CJ, line of aircraft has made owning and operating a business jet accessible and affordable for more people in recent years. The CJ1 through CJ4 offer a combination of performance and efficiency to fly up to eight people on trips from 500-1000nm. In Parts 1 and 2 of this series, we featured a CJ managed by Gateway Jets in St. Louis. Now in Part 3, The Aero Experience will discuss the aircraft acquisition process with the President of Gateway Jets, Corey Tomczak.
Gateway Jets provides aircraft management services from initial purchase to all aspects of air operations, maintenance and compliance. Corey Tomczak and his team are ready to help the buyer navigate the acquisition process from concept to reality.
"We like to break it down into three parts of the process," Tomczak told The Aero Experience. "Step One is determining which aircraft is right for you. Step Two is finding an aircraft in the market and getting an offer accepted. And Step Three is the closing process." Tomczak also mentioned that determining if an aircraft purchase is even appropriate for the prospective buyer is an essential part of the initial consultation.
Step One: Determine the Best Aircraft for the Mission
Once an informed decision to purchase an aircraft is made, the acquisition process continues with a more in-depth review of the buyer's needs and resources. "We go over your finances, your mission, we evaluate how many people are going on the trip and what's important to you - upfront costs or on-going carrying costs," Tomczak explained. "These factors allow us to determine if it is a piston aircraft, a turboprop, a jet, a large jet. This varies greatly depending on where you'd like to go and how many people you are carrying. Once we determine which aircraft is right for you, we go over all the variables and come up with a proposal that covers every aspect of aircraft ownership. This includes training, maintenance, insurance - every little piece of the puzzle."
Step Two: Search for the Best Aircraft and Make an Offer
Once the aircraft type and model are chosen, then it is time to check the market for the best possible aircraft to meet the buyer's needs. "We look for an aircraft that meets your budget, aircraft age, flight hours and location," Tomczak continued. "After we determine which aircraft is right for you, we start the offer stage. Gateway Jets puts in an offer on your behalf and, if accepted, we draft a purchase agreement covering all the details." This is where attorneys of both the buyer and seller review the agreement before moving forward.
Step Three: Closing the Deal
"At this point," said Tomczak, "we've agreed on a price, we've agreed on a plane. Now we discuss who will do the pre-purchase inspection. An independent party looks at every piece of the aircraft, including the logbooks, to make sure it is as represented and safe."
The closing process involves additional interested parties: buyer and seller attorneys; accountants; tax specialists; and financial institution representatives. Gateway Jets, as the broker, keeps the process moving forward to a successful conclusion.
Gateway Jets is your source for aircraft management services from acquisition to flight operations and fleet upgrades. In Part Four of this series, we will explore the advantages of using aircraft management services offered by Gateway Jets. For more information, contact Gateway Jets and check out Part One and Part Two of this series.
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