The company’s backlog stayed flat at $4.6bn in comparison with the first quarter of 2024.

In the light jet segment, Embraer delivered 18 Phenom 300s, up 80% from the first quarter and flat compared to same period last year. However, it delivered two Phenom 100.

In the mid-size segment, the company delivered three Praetor 500s and four Praetor 600s – flat on a sequential basis while declining from six and five respectively in second quarter of 2023.

So far, in the first half of 2023, Embraer has delivered 45 executive jets against the annual target of 125-135 deliveries. Jet deliveries are seasonal and usually pick up pace in third quarter with major chunk leaving the manufacturers’ hangars in the fourth quarter of fiscal year.

Overall, the company’s total backlog for executive, commercial and services segments hit a seven-year high of $21.1bn, up 20% year-over-year.

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“In the [second] quarter, our team delivered higher revenue, earnings per share, and cash flow,” said Scott C. Donnell, chairman and CEO, Textron. “At Aviation and Bell, we continued to execute on key programs, including the Citation Ascend and FLRAA.”

The YoY $113m increase in revenue came from higher pricing of $57m and higher volume and mix of $56m.

Textron Aviation delivered 42 jets in the quarter, down from 44 in the second quarter of 2023, and 44 commercial turboprops, up from 37 in last year’s second quarter.

On the bottom line, the aviation segment’s profits increased to $195m, up $24m from same quarter last year.

Meanwhile, the company’s backlog at the end of the second quarter was $7.5bn slightly higher than $7.3bn at the end of first quarter 2024.

Overall, Textron’s second quarter revenue increased by 3%YoY to $3.5bn attributable to growth in Aviation, Bell and Systems segments which offset the decline in revenues from Industrial and eAviation segments.

Despite higher topline, the company’s net income declined during the quarter under review to $259m in the second quarter from $263m from last year. The company booked special charges of $13m, which the company said was due to “headcount reductions in the Industrial, Textron Systems and Bell segments.”

This translated in to earnings of $1.35 per share, as compared to $1.30 in the second quarter of 2023.

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Leopold has been with Textron for nearly 24 years and was most recently vice president of the company’s North American customer service centres.

She will oversee pre-owned aircraft business activities and sales support functions including sales operations, data analytics, customer relationship management, aviation training and simulator development.

“I am confident that Tracy’s extensive experience, passion for our products and strong customer relationships make her well-prepared to lead this team,” said Lannie O’Bannion, senior vice president of Global Sales and Flight Operations at Textron Aviation.

Leopold has also been a regional sales director focusing on pre-owned product sales and led a team in global aftermarket part sales and aftermarket service centre network sales

Berger has retired from the role after 35 years of “outstanding leadership” with the company.

“I want to personally recognize Ed for his commitment to the success of our business, customers, employees and community during his tenure,” said O’Bannion.

Textron announced its revenue in the second quarter increased 8.2% year-over-year to $1.5bn from $1.4bn in the same period last year with higher contribution from both better pricing and higher volumes.

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Ozenick will be responsible for spearheading the growth and expansion of Volato’s aircraft management business.

“We are thrilled to welcome Mark to lead the expansion of Volato’s aircraft management business,” said Matt Liotta, CEO of Volato. “Mark’s unmatched leadership, dedication to safety, customer-centric approach, and sharp business acumen make him an invaluable addition to our senior management team. I look forward to working with him to scale our already successful aircraft management business.”

Volato said that Mark Ozenick leverages his 45-year career in business aviation, specializing in flight operations, maintenance, and leadership, to deliver a proven track record.

He has a history of success leading Part 135 business aviation companies, where he implemented improvements that prioritized safety, customer service, and profitability.

Prior to joining Volato, Ozenick founded HeliFlite, a leading provider of regional helicopter services. He has also served as a trusted advisor on aviation matters to major airlines and private equity organizations.

“Volato has a unique and compelling business model that delivers exceptional service, safety, and products to its clients,” said Ozenick commenting on his decision to lead VAMS. “Aircraft management is a key part of that model and a differentiator in the market. I look forward to building on this strong foundation and driving further growth.”

Ozenick’s appointment highlights Volato’s commitment to growth and its focus on providing exceptional aircraft management services to its clients.

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“Michael not only understands the commercial aspects of VIP jet operations but has a precision focus on safety and maintenance.  This hands-on experience is invaluable as it instils instinctive trust,” said Robin Dunlop, founding partner, ALTEA. 

Remarking on his appointment, the consulting firm said that in addition to his vast network within the VIP aviation industry, Michael Hoby Andersen brings extensive technical and operational experience to ALTEA, particularly in aircraft acquisitions and sales.

“ALTEA has the ability to engage with customers from all angles” said Andersen while commenting on why he joined the firm. “We offer one of the strongest support structures across asset management, financial solutions, design, and completions to guide and inspire owners and operators across the worldwide bizjet market.  This is what sets us apart, and it is what attracted me to join the business.”

Andersen recently facilitated the off-market sale of a Global 6000 for ALTEA.

Dunlop said that despite opportunities in sustainability initiatives, digital transformation, and market growth, the firm’s strength lies in personalized services for specific client needs.

We can help our customers – private individuals, banks, corporations and governments – navigate careful and strategic investments in the sourcing, purchase and completion of all sizes of aircraft, added Dunlop.

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Brent Moldowan will head up day-to-day operations as president and CEO; strengthening the firm’s regional bases and customer-facing teams. Joining Moldowan on the leadership team are Viviana Kozin, chief operating officer; Ron Carlstrom, chief financial Officer; Rich Ropp, chief sales and services officer; and Stephanie Mueller, chief talent officer.

The new structure will help incorporate the same technology platforms across each base and help develop ways to support similar departments, leveraging the resources and capabilities of the larger company.

“We’re confident in Brent uniting our entire team together where technology and best practices can be shared,” said chairman Andy Priester. “His experience provides a cohesive way to support our front-line employees, who have built long-standing relationships with and understand the unique needs of our customers in each region.”

Moldowan is currently helping Mayo Aviation integrate into the larger George J. Priester Aviation family of companies, after which he will assume the operational leadership of the larger organisation in his new roles. Andy Priester will continue as chairman.

Moldowan previously served the company as president of Mayo Aviation. Each regional base – Priester Aviation in the Midwest, Mayo in the West, and Hill Private Aviation in the Southeast – will have a president to lead it. The company amalgamated its services into one legacy company earlier this year.

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Two-time major winner Johnson flies exclusively with Magellan and has recruited 4Aces team-mates Patrick Reed, Pat Perez and Harold Varner III to promote the company and host experiences for its customers.

“Dustin Johnson is highly recognized as one of the best golfers in the world and one of the most knowledgeable and seasoned private fliers in all of sports,” said Joshua Marc Hebert, founder and CEO of Magellan Jets.  “As with many tour players and professional athletes, we appreciate Dustin’s loyalty to Magellan Jets.”

Johnson, the 2016 US Open champion and 2020 Masters winner, said his time is at a “premium” between golf, business and family and described the partnership as the “perfect fit”.

“I committed to being a Magellan Jets cardholder because I trust its personalised service and range of aircraft,” said Johnson, who is from South Carolina but lives in Florida.

“My team at Magellan always goes the extra mile to ensure the comfort and safety of my family and the 4Aces on every trip.”

Magellan Jets recently became the private aviation provider of the Boston Red Sox and hired Todd Goldstein to expand its sports and entertainment division.

The company offers jet card ownership, membership, on-demand charter and aircraft sales and management services. 

The 4Aces is one of 13 teams competing in LIV Golf, the league which operates outside the more established PGA Tour and the DP World Tour.

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In her new role Barnes will be focused on driving growth across the company. JetSet Media, established in 2006, is an aviation marketing and media firm specialising in marketing solutions, brand management and strategic communications for the aviation industry. She will also support joint venture company Private Jet Media Americas (PJMA) in its continued growth throughout the Americas. The joint venture  was announced in the fourth quarter of 2023. PJM uses video technologies to generate additional revenue for FBO partners and enhance the passenger experience.

“I am thrilled to remain in the aviation industry and help solidify JetSet Media’s out of home advertising presence and grow the network of FBOs,” said Barnes. “I’m looking forward to advancing the marketing and communications initiatives of JetSet Media and PJMA, which will allow me to stay connected to FBOs around the globe.”

Previously, Barnes, founder of Paragon Aviation Group, led the company through “significant” growth and transformation. Under her leadership, Paragon expanded its network, improved operational efficiencies and strengthened customer relationships.

Tim House, CEO and founder of JetSet Media said: “We are thrilled to welcome Megan to the JetSet Media team. Her expertise and vision in the aviation industry will be invaluable as we work to advance our marketing and communication initiatives. We are excited to see the impact she will have on our strategic direction and growth.”

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“We are thrilled to have Kompass Kapital join the Airshare ownership group and strongly believe its investment will have a material impact on our future,” said John Owen, CEO, Airshare.

“Kompass’ reputation is impeccable, and their track record in helping businesses flourish is well known. Additionally, they have already demonstrated great success in partnering with our legacy ownership group through other investments.”

Airshare has grown significantly in recent months. After acquiring Wheels Up aircraft management business last year, the company nearly doubled in size and now operates almost 150 aircraft. The aviation company’s current fleet comprises of 14 Phenom 300s and seven Challenger 3500s. 

Airshare offers a variety of private aviation services, including aircraft management, charter flights, and fractional ownership programs.

“We are very excited to partner with Airshare, where we join a talented team dedicated to serving the private aviation needs of business and leisure customers both domestically and internationally,” said Bradley Berger, managing partner, Kompass Kapital.

Jefferies acted as exclusive financial advisor to Airshare. Lathrop GPM served as legal counsel to Airshare, and Spencer Fane served as legal counsel to Kompass Kapital.

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An equipment financing expert, Kacin will be pivotal in developing relationships and supporting clients across the Northeast and Midwest, according to the company. He will report to Mike Christie, who became head of Sales for the Americas in March.

Commenting on his new role Kacin said: “I’m looking forward to the opportunity to help both corporate and UHNWI [Ultra High Net Worth Individual] clients benefit from the innovative and customised financing solutions Global Jet Capital offers for the business aviation market.”

Before joining Global Jet Capital, Kacin served in sales leadership and management roles for Webster Capital Finance, Terex Financial Services, Citibank, and Wachovia.

Alongside the appointment, the company is reorganising its North American sales territories.

Hannah Davis, formerly vice president of Sales for the Eastern US, will now lead the newly-formed Southeastern US region. John Arlinghaus, formerly associate sales director of the central US region, will now oversee the Western US region and Latin America.

Christie welcomed Kacin to the team: “Tom’s passion for aviation and strong equipment finance background will help us continue to provide bespoke solutions to our clients,” he said. “The territory realignment will provide better coverage of key markets allowing our team to be closer to our key partners.”

Meanwhile, in May Vivek Kaushal, CEO, Global Jet Capital said: “The business jet market has never been in a better place.” 

Global Jet Capital territory re-organisation – at a glance

• Tom Kacin, vice president, Sales for the Northeastern and Midwest US region
• Hannah Davis leads the newly-formed Southeastern US region
• John Arlinghaus oversees the Western US region and Latin America.

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