Priority Jet Continued from page 43 I n the highly competitive world of private aircraft charter, success may depend on a niche mar- ket focus. For Atlanta-headquartered Priority Jet, the emphasis on serving wholesale charter providers with a fleet of light to mid-size jets has been their growth engine for nearly a decade. In fact, about 80 percent of the company’s business derives from charter brokers and other operators nation- wide. Among its client base are fractional ownership com- panies, membership and jet card plans, including such marquee names as Delta Private Jets, Flexjet, Flight Options, Jet Linx, and Sentient. According to Ryan Waguespack, Priority Jet’s Vice-President, Development and Sales, direct retail charter is also offered, but currently accounts for no more than about 20 percent of its operations. Based at Signature Flight Support’s DeKalb Peachtree Airport (PDK) FBO complex since 2012, Priority Jet was founded in 2008 at Falcon Field (FFC)—another Atlanta area general aviation airport—by Scott Foith and Steven Dunn, who still serve as Chief Executive Officer, and Chief Operating Officer, respectively. As Waguespack explained, the “wholesale charter world” presented Scott Foith with an opportunity for greater utilization of the two jets he owned at the time—a Citation Bravo and Citation XL. The decision to move to PDK, he added, was based on the premise that it offered greater potential business. “Relocating to DeKalb-Peachtree has increased our footprint in the Atlanta area, and is in a bet- ter location for the markets we serve, while Falcon Field is considerably south of the city,” said Waguespack. From its first two light jets, Priority Jet has grown—and continues to grow—its charter fleet, which, as of June 2017, consisted of five turbine-powered aircraft—a Learjet 60XR, “…Repair station customers pre- fer one-stop shops, where they can have everything done on their aircraft at a single location.” 44 a Citation XLS, a Citation Excel, a CitationJet, and a Pilatus PC-12, the sole turboprop in the fleet at that time. Of the five aircraft, the Learjet 60XL and Citation Excel are company- owned, while the remainder are under Priority Jet manage- ment and leaseback contracts. Waguespack reported that an additional four aircraft—a Beechjet 400A, a Citation Bravo, a Citation Jet, and a PC 12—are currently going through the conformity process to be added to Priority Jet’s Part 135 certificate. Those aircraft will also come under man- agement-leaseback contracts. “We plan to add more com- mon fleet types, with what we currently operate,” he said. Priority Jet works its aircraft hard, averaging 550 flight hours, per airplane, annually. That, noted Waguespack, could actually increase this year. “People have been book- ing charter trips at least two to three months ahead, more recently, which is definitely a good sign for the industry,” he said. Nearly all of the flying, he reported, is domestic and tends to be mainly east of Texas, while a small per- centage is into Mexico and Caribbean destinations. Along with flying charter, Priority Jet’s presence at PDK includes a 20,000 square-foot maintenance hangar, which houses the company’s Part 145 certificated repair station. The airframe specialties include Citation and Hawker jets, as well as turboprop and piston-powered Cessna and Beechcraft models. In addition, complete engine servicing is available on those products, although turbine engine hot section work is sent out of house. In addition to servicing Priority Jet’s fleet, the main- tenance facility serves other aircraft owners, presently accounting for some 75 percent of its repair business. Currently under consideration is an expansion of the repair station that would include additional hangar space and staff. “While the exact number of technicians likely to be hired is under study, we are looking at an addi- tional 30,000-40,000 square feet of leased hangar space at PDK, as part of our long-term planning,” Waguespack said. “Our plans also include avionics sales, installations and service for the first time, which is slated to be up and running by the summer of this year. We are adding avion- ics because of the opportunities presented by the com- ing ADS-B Out mandate, and the fact that repair station customers prefer one-stop shops, where they can have everything done on their aircraft at a single location.” Aviation Business Journal | 2nd Quarter 2017
