Steve Varsano Talks Jet Business

Sitting in the 2015 Gulfstream 650 on static display his aircraft brokerage has for sale here at EBACE, Steve Varsano, founder of London’s The Jet Business, disputes talk of market gloom. In 2008, 17 new models were available for purchase, vs. 28 today, he noted. “It’s hard to get the production line backlogged – there are so many aircraft to choose from.” Preowned aircraft like the G650 formerly drew a premium price due to demand, and now, simply, “the premium has disappeared,” he said, dismissing talk of cratering values. But times have changed. Before the ’08 downturn, some buyers bragged about how much they paid for their jets. Today it’s about how little they paid. “Everybody wants value for their money,” he said.