Aero Network TV's Jim Campbell interviewed IFG Chairman Oscar Garcia at the 2008 NBAA convention in Orlando. Jim Campbell took the opportunity to review some of the most relevant aspects of the VLJ industry in Latin America and Caribbean. Oscar Garcia will Chair the upcoming MIU 2nd Annual VLJ Latin America and Caribbean convention in Miami on November 10-11th and shared with the audience his views on the event’s importance and relevance. “I am delighted to discuss the effects of the current global financial crisis and oil prices rollercoaster ride the VLJ industry is facing. I am cautiously optimistic that the VLJ growth in the Latin America and Caribbean regions will stay robust due to a lesser impact on the real estate meltdowns and oil prices," Garcia commented.
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Below is an expert from the video:
Fri, 17 October 2008
Oscar Garcia Expresses Optimism Despite Current Economic Challenges ANN and Aero-TV are pleased to announce that we have agreed to be the principal media partner for MIU Events upcoming roster of aviation events and seminars. MIU Events run aviation events and training seminars, specializing in executive flight infrastructure, business aviation and finance solutions for aviation as a whole. They run a number of events focusing on the development of the Very Light Jet in regional markets and cater their events to the needs of senior managers, charter/air taxi operators, high net worth individuals/entrepreneurs, owner pilots and those who shape the future of the aviation and aerospace industries. MIU Events concentrate on providing hard to access information and the exchange of ideas, knowledge and innovative thinking.
As a result of this relationship,. we're having a ball meeting some REALLY interesting and learned people... most recently a fellow by the name of Oscar S. Garcia, of InterFlight Consulting. Oscar has been Chairman and CEO of InterFlight Global Corporation since 1992. He holds FAA/JAR Airline Transport Pilot and Flight Instructor licenses as well as Instrument and Multi-Engine certificates with a total flight time of over 8,500 hours in a variety of aircraft and flight simulators. Oscar is also immediate past President and Chairman of the Aerospace Committee of Greater Miami Aviation Association (GMAA).
Recently, in preparation for the upcoming Very Light Jets - Latin America and the Caribbean conference, Oscar chatted with Aero-TV about the current market for VLJs in Latin America. We learned that there are more business jets and turbo props in Brazil than in any other single country outside the United States and Canada. As a region, Latin America and the Caribbean operate more turbo props than either Europe or Asia.
With Very Light Jet (VLJ) manufacturers forecasting more than 60% of their sales outside the US, Latin America and the Caribbean offers an enticing market. With a poor road network and few railways, the Latin American region has long been a place where private aircraft have been an essential tool for business. As the Latin American economies gain momentum and the boom in agriculture generates business in areas far removed from the big industrial centers, demand for aircraft is growing at a phenomenal pace. Conservative estimates predict the market for private jets in the region will grow at 10% for the next five years.
As the existing fleet of twins and turboprops comes up for renewal or replacement the VLJ is going to look increasingly attractive to owner/operators and owner/pilots.
The questions surrounding the future of this market remain considerable ones, indeed... Will the new VLJs now being delivered prove as sturdy and reliable as turbo props and twins and will the VLJ offer the operators the distances needed for this market? Will the necessary aviation infrastructure be in place and will the OEMs have a sufficiently expansive servicing capability for this established but rugged market?
It will be the role of the second annual Very Light Jets - Latin America and the Caribbean conference, this year in Miami, (November 10-11, 2008) to answer these questions and to provide a flight path through the various regulations, funding options, FBO, MRO, operating costs and pilot training issues that are likely to have a direct impact on the success of the VLJ in this market.
ANN hopes to see many of our readers and friends at this event next month.
Aero-TV Learns Some Fascinating Info On The Latin American VLJ Scene Copyright 2008, Aero-News Network, Inc., ALL Rights Reserved.
