The International Aircraft Dealers Association (IADA) experienced significant progress in 2019 in several important areas, along with robust growth, as it advanced the organization’s commitment to transparency and integrity in used aircraft transactions. Central to IADA’s initiatives in 2019 was a focus on self-regulating the industry to make transactions more ethical and seamless for buyers and sellers.
“This past year, IADA instigated a heightened awareness of the importance of dealer and broker professionalism to the buyers and sellers of aircraft, which has already resulted in crisper ethical transactions across the industry,” said IADA Executive Director Wayne Starling. “IADA’s dealers are simply the best in the industry with a renewed emphasis on the level of professionalism executed by the aircraft brokers that work for them.”
Verified Search Portal
Key among the strides made in 2019 was the creation and successful operation of AircraftExchange.com, an exclusive IADA online aircraft listing service that only features aircraft for sale that have been IADA validated, eliminating time consuming distractions from the buying and selling process. In less than a year since its inception, the www.AircraftExchange.com search portal handled more than $3.8 billion in aircraft sales covering approximately 400 aircraft.
Currently the site lists hundreds of verified aircraft for sale listed exclusively by IADA dealers. Efforts are already underway in 2020 to expand the reach and accessibility of this aircraft search portal as it becomes the go-to source for the best aircraft on the market represented by the best dealers the industry can offer.
The portal targets high net worth individuals and C-suite executives. These transaction decision makers and influencers have found that the site offers a sophisticated, cutting-edge user experience replete with unique proprietary features and an intuitive approach for buyers and sellers. Buyers can create a confidential dashboard with their preferred aircraft filtered by desired features, including aircraft class, age, and cost.
Dealer Accreditations, Broker Certifications
Also during 2019, IADA conceived and implemented the industry’s first aircraft dealer accreditation process and created a certification program for brokers that elevated the level of qualifications and professionalism available to aircraft buyers and sellers.
IADA engaged Joseph Allan Aviation Consulting to oversee the extensive processes to accredit dealers and certify their brokers to ensure objectivity in meeting the highest industry standards required to become a member of the world’s most trusted organization of aircraft transaction experts. Similar stringent qualifications are now required of the industry experts who provide products and services to the industry in order for them to become verified affiliate members of the organization.
IADA Growth
Following IADA’s fall meeting, the organization added several accredited aircraft dealers to its ranks and increased the number of certified aircraft brokers by 50. There are now 42 brokers in addition to five new aircraft manufacturers that are members of IADA.
Represented at the fall meeting were more than 60 additional companies that are verified providers of products and services to the pre-owned aircraft transaction industry. They brought the total companies in attendance at the fall meeting to more than 100.
IADA’s aircraft dealers exhibited more than 10 pre-owned business jets at the 2019 NBAA Business Aviation Convention and Exhibition (NBAA-BACE) in Las Vegas, Nev. These aircraft joined dozens of others on display by new aircraft manufacturers that are also IADA-accredited aircraft dealers.
For a complete list of IADA’s dealers go to www.IADA.aero. For a list of IADA’s newest brokers go to https://iada.aero/certified-brokers-recent. For a complete list of IADA’s certified brokers go to: https://iada.aero/certified-brokers.
IADA Foundation Active in 2019
In 2019 the IADA foundation received approval from the Internal Revenue Service (IRS) as a tax-exempt 501 (c) (3) public charitable organization. The new designation by the IRS permits IADA to expand its initiatives inside and outside the industry while its business aviation scholarships build a cadre of business aviation professionals for the future.
IADA Foundation by-laws prescribe that the organization can provide business aviation scholarships, education, learning, and leadership opportunities. The organization can work through other organizations, including the National Business Aviation Association (NBAA), University of Virginia Darden School of Business, and Georgia State University, in addition to funding speakers at IADA annual meetings.
In addition, IADA will be permitted to make contributions for aviation related disaster relief and aviation related philanthropic causes through the NBAA Humanitarian Emergency Response Operator Database, Angel Flight and Corporate Angel Network.
Leadership for 2020 and Beyond
IADA has tapped into its membership for the overall governance to lead the organization into the next decade. IADA has named QS Partners Managing Partner Paul Kirby as the aircraft dealer organization’s new Chairman of the Board for 2020-2021. He replaces outgoing Chairman Brian Proctor, Mente Group President and Chief Executive Officer, who led the organization in 2018-2019.
Joining Kirby as an officer on the Board of Directors of the global aircraft transaction organization is Vice Chairman Peter Antonenko, Chief Operating Officer of Jetcraft. IADA’s Treasurer is David Monacell, Executive Vice President of CFS Jets. Joe Carfagna Jr., President of Leading Edge Aviation Solutions, is IADA’s Secretary.
Joining the officers as board members are Meisner Aircraft Vice President Chris Meisner, Guardian Jet Vice President of Sales Doc Dwyer, and Avpro Inc. Managing Partner Chris Ellis. IADA’s OEM President on the board is Michael Amalfitano, Sr., the President and CEO of Embraer Executive Jets.
The IADA Board of Directors also includes John Prock, Director of Aircraft Asset Management for Banc of America Leasing, as Chairman of the Products and Services Member Advisory Council, and PNC Aviation Finance Senior Vice President and National Sales Manager Keith Hayes, 1st Vice Chairman of the Products and Services Member Advisory Council. Joining Prock and Hayes on the Member Advisory Council are 2nd Vice Chairman Andrew Young, General Manager of AMSTAT and Secretary Tobias Kleitman, President of TVPX.
IADA is a professional trade association formed more than 25 years ago, promoting the growth and public understanding of the aircraft resale industry. IADA now offers the world’s only accreditation program for dealer organizations and the only certification program for individual brokers. The process delivers high standards of ethical business and transparency regarding aircraft transactions, leading to a more efficient and reliable marketplace. For more info about IADA go to www.IADA.aero.
