Engel & Völkers Adds Private Aviation Division

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Engel & Völkers Aviation to provide exclusive sales and chartering services for private and business travel

The Cessna Citation CJ1 seats six passengers and is on sale through Engel & Völkers Aviation for 1.1 million dollars (approx. 1.0 million euros).

Engel & Völkers Aviation opens up significant opportunities for our company and means that we can now offer customers even more services from one single source,” said Christian Völkers, Founder and Co-CEO of Engel & Völkers AG.

Engel & Völkers has expanded its service portfolio to include the brokerage of business aircraft and private jets worldwide. The new division, Engel & Völkers Aviation, will specialize in aircraft sales and charter and will serve as the company’s fourth business division, joining Engel & Völkers residential real estate, Engel & Völkers commercial real estate and Engel & Völkers Yachting.

“Many of Engel & Völkers clients lead luxury lifestyles and enjoy travelling – both for business and pleasure. We are seeing a growing need for this service among our real estate and yachting clients. Engel & Völkers Aviation opens up significant opportunities for our company and means that we can now offer customers even more services from one single source,” said Christian Völkers, Founder and Co-CEO of Engel & Völkers AG.

Customized air travel and consultancy

Engel & Völkers Aviation will offer personally tailored charter flights around the world, which can be easily arranged by clients through the user-friendly website. Clients are presented with a selection of aircrafts from which to choose, ranging from small propeller aircraft to large super jets. With access to a pool of around 4,000 planes on its own booking platform, Engel & Völkers Aviation offers clients access to a world-wide charter fleet of private and business aircrafts.

In addition to aircraft charter for individual trips and aircraft trading, Engel & Völkers Aviation will also broker business and private aircraft for long-term charter and through partnership investments. The new business division will provide comprehensive consulting on legal and taxation issues, aircraft management, structured finance as well as risk management and insurance.

Bart Boury will serve as the CEO of Engel & Völkers Aviation. With many decades of experience working in the aviation industry, Boury brings his broad expertise and professional background in starting new aviation ventures, as well as in business aircraft management and operations and aviation tax and legal consultancy, to the new division. Boury is also a qualified lawyer and holds additional Masters Degrees in Air Transport Economics and Air Transport Law.

Pricing scope: up to 60 million dollars for a long-range large cabin jet

Prices for business aircraft charter and acquisition vary greatly. A short-range turboprop aircraft will cost approximately $2 million and has an hourly charter rate of $945. For a Light Jet, buyers can invest between $4.5 and $8.9 million or utilize the jet for an hourly charter fee between $1,387 and $2,223. For ‘midsize jets’, prices vary from $11.5 to $17.5 million, with chartered flights available for an hourly rate ranging from $2,501 to $6,114 per flight hour, transporting up to ten people to destinations of 1,864 to 2,485 miles away. Pricing for a long-range large cabin jet or ‘bizliner’ starts at $60 million for purchase, and up to $13,522 per hour on an all-in charter basis.

Growth and regional focus

“The global market of business and private jet use varies geographically as each region is in a different stage,” said Boury. The majority of buyers and charter clients are based in North America, followed by Europe. New demand is also emerging as a result of increased prosperity in more and more countries, with clients from China, the Middle East and South America recently joining the fray. In addition to companies, more and more entrepreneurs, business magnates, and high net worth individuals are choosing to own an aircraft or make use of a charter service.

“Our entry to the aviation market comes at just the right time. Our global network in 39 countries and our uncompromising level of professionalism will help us to enter into this new market very quickly,” Völkers concluded.

For further information please visit: http://www.engelvoelkers.com/aviation

About Engel & Völkers North America

Since its beginning in 1977 as a specialty boutique providing exclusive, high-end real estate services in Hamburg, Germany, Engel & Völkers has become one of the world’s leading companies specializing in the sale and lease of premium residential and commercial property, yachts and, most recently, private jets. Engel & Völkers currently operates a global network of over 5,900 real estate advisors in more than 560 residential brokerages and 65 commercial offices spanning 39 countries across six continents, offering both private and institutional clients a professionally tailored range of luxury services. It established its North America corporate headquarters in 2007 and opened its first brokerage in the same year. Committed to exceptional service, Engel & Völkers supports its advisors with an array of premium quality business services; marketing programs and tools; multiple platforms for mobile, social and web; as well as access to its global network of real estate professionals, property listings and market data. Engel & Völkers is an active supporter of the Fair Housing Act and the Equal Opportunity Act. Each brokerage is independently owned and operated.

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Charles Kim

Kathryn Pleiss
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