Today we’d like to introduce you to Janine Iannarelli.
Janine, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
I began my career in aviation as a market researcher at a company formed by a woman entrepreneur that specialized in the gathering of data on available aircraft that was then sold to the trade. I became the very first employee of what today is one of two leading providers of research in the business aircraft sales industry. From there I moved into the role of salesperson…again the very first for the company…and subsequently found myself on the road meeting with our customer base and looking for new business to develop. It was a wonderful way to gain an intimate picture of just how does the aircraft resale marketplace work and who were the dealmakers. Clearly I made an impression upon our client base for I started receiving a number of job offers. I elected to join an aircraft dealer who specialized at the time in the sale of Learjets and that is what brought me to Houston.
Initially, my job was to help establish an in-house research department, but after a year with the company, I moved into aircraft sales. An aircraft salesperson spends quite a bit of time traveling as you can imagine. It offered me the chance not only to visit with prospective clients, but to interface with a variety of vendors, manufacturer and aviation authorities all of whom play an important part in a transaction at some point. I honed my craft at this company and learned the business from the ground up. One of the partners in the aircraft dealership that I worked for was a licensed pilot and airframe and powerplant mechanic. He placed a heavy emphasis on the technical, which has today given me the competitive edge in the market. Development of this skill set proved to be of particularly great importance in the building of my career as deals are often made or broken at this stage of the purchase process.
The experience gained by having worked for an aircraft dealer was the ideal platform from which I was able to build my own company. I founded Par Avion Ltd. as I wanted to be in control of my destiny, as well as make use of the current time available as I saw fit. The business has provided me the opportunity to travel the world, meet new people and make a lifetime of memories. As an international aircraft broker, I bring to the transaction a particular expertise in cross-border transactions and I am well known for bridging the cultural divide. Through my company not only have I been able to continue to build business and relationships around the world, but as well become a voice in the industry.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
If selling complex, highly technical pieces of equipment was easy, there would be a lot more people attempting to do so! This is an asset whose sale is driven as much by emotion as need. One of the most challenging aspects of that path to a sale can often times be the management of personalities and expectations along the way. As the deal progresses I take on the role of project manager and keeping everyone on track and on an even keel at times is very challenging. I often say I wear many hats in the course of conducting a sale one of which is counselor.
As one might expect with a technical asset, the level of knowledge that is required to be competitive in this industry is quite high, yet most of it is learned on the job. Technology is ever-changing and not one size fits all when it comes to meeting a particular navigational requirement for example. Besides having an understanding of the requirement that must be met, a salesperson needs to find the economical way to fulfill it. There is a constant need to keep abreast of changes, options and what makes economic sense when it comes to upgrading or valuing an airplane. I have to say that sometimes my counterpart across the table is not equally as well equipped and thus that leads to often sensitive negotiations.
On a few rare occasions, I had to deal with less than agreeable male counterparts, but they would soon find out I was a formidable opponent and was not going to be set aside. A the risk of sounding arrogant, I think my confidence and intuitive style of handling situations commanded attention and respect. You quickly learn to work-around human roadblocks to success and as my reputation grew, I found that my voice was not only heard, but sought after.
This being said a new challenge in the form of a specialty interest group has arisen in my industry that challenges my peers and I and the small businesses we have created. While this group has been around for awhile, they recently rebranded themselves and established new criteria for membership that are essentially commercial barriers to entry. It excludes companies such as mine on the basis of size and activity level, without taking anything else into consideration. The message they are attempting to deliver to the industry and enduser clientele is that if a broker is not a member of their exclusive group, then you are possibly not working with the right entity. While they espouse ideals I am supportive of, the restrictiveness as to who gets to qualify and how one qualifies to be a part of the “club” I oppose. I don’t see anyone who looks like me in the group and I am all about diversity, inclusiveness and raising awareness as to the issues faced by a woman owned small businesses.
The other struggle that seems to be a reoccurring theme in our industry is the marketplace itself. The sale of the business and private jets is closely tied to the ups and downs of the world economies and the overall mood and sentiment. Since the economic meltdown of 2008 there has been no consistency and no model we could fall back on. While the market showed signs of improvement through 2017-2018, stagnation has set in and we are sure to see a slow-down in an election year. It’s been a struggle for the new and resale market since and anyone who tells you otherwise is simply telling a story.
Alright – so let’s talk business. Tell us about Par Avion Ltd. – what should we know?
Par Avion is an international aircraft brokerage firm that specializes in representing buyers and sellers of business and private use jets valued upwards of $65,000,000. Our focus is on a select group of aircraft manufactured domestically and abroad including Bombardier Globals and Learjets, Cessna Citations, Dassault Falcons, Gulfstreams, Hawkers, and Embraer Phenoms. Most of the aircraft we deal in are of the mid/super mid and large cabin category, though I started with small jets and seem to once again be making a market in them. The business is global and as previously mentioned, cross-border transactions are my specialty. The company was established in 1997 with the objective of providing personalized, hands-on service with regards to the acquisition and sale of business aircraft. We also provide consulting services such as oversight and advice through the course of an existing transaction as well as fleet planning.
I am probably best known as a leading purveyor of the Dassault Falconjet and earned the nickname from a local maintenance/repair and overhaul facility as “The Falcon Lady”. Today I offer over thirty-five years of aircraft sales experience and great depth in the industry having worked with many of the established vendors and suppliers, civil aviation authorities and completion centers around the world.
I’d like to think that my company sets the standard in terms of providing a very high level of commitment and service to the Client that is for the most part unheard of today simply because the economics are not there. In the face of declining demand and diminished earnings, others have cut back by not being so hands-on and present in a transaction. The focus becomes volume sales. Traveling to the due diligence inspections was routine in the past, but is often one of the first benefits to go as it just consumes too much time and money. Or deferring total responsibility with regards to reviewing and commenting on sales documents to the other professionals (tax, law, technical) engaged by the client. We are a turn-key, full-service aircraft brokerage and I am very involved in all aspects of the transaction. It has earned Par Avion a reputation as being very thorough, pro-active and effective.
Any shoutouts? Who else deserves credit in this story – who has played a meaningful role?
The road to success requires assistance and there have been several people along the course of my career path that I can say provided a big helping hand. The single most important person who helped guide me and offered me every opportunity possible is my former boss Mr. Dave Eickhoff. Dave was a mentor extraordinaire who alternatively coached or counseled me, equipped me with the technical knowledge early on that I needed to help distinguish me from other brokers, encouraged me to take risks, reminded me of how being smart, but humble goes a long way towards winning friends and defeating enemies, and generally gave me the “atta girl” support when appropriate. Whether he knew it or not, he was a person who could bring out the best in you and that in turn helped build your confidence.
Another person who I would like to shine the light on is a gentleman who I met early on in my career with whom I developed not only a strong professional relationship, but a good friendship. Ed Underwood is an aviation insurance broker who today leads a large subsidiary of the international fueling company AVFUEL. Ed is an industry leader in his own right and to this day remains a close confident and professional advisor. Through the years I have sought his counsel and guidance on business matters as his moral compass and worth ethics mirror my own. This is extremely important to me as I draw strength and courage from that sort of support as I choose to take the high road. I stress that because some people think it is okay to color outside the lines in business, but the truth is, it never is. It helps to have someone whose own travel schedule is as demanding as yours to bounce matters off of for they more easily understand the uniqueness of life on the road. Simply put, it is not so much any one thing that Ed did to help me in my career, but the multitude of small and consistent things. I regard him as part of my inner circle.
Pricing:
- Aircraft that we sell are valued between $1,500,000 upwards of $65,000,000
- Consulting services are priced either hourly or by the project. Hourly rate is $500
Contact Info:
- Address: 1415 South Voss Road, Suite 110-446
Houston, Texas 77057 - Website: paravionltd.com
- Phone: +1.713.681.0075
- Email: jki@paravionltd.com
- Facebook: https://www.facebook.com/Par-Avion-Ltd-144062638997489/?ref=bookmarks
- Twitter: https://twitter.com/ParAvionLtd
- Other: Par Avion Ltd.
Image Credit:
Main photo: Jay Davis
Evin Thayer
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