OGARAJETS launches Five-1-Five Approach

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by CJI Expert
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Atlanta-based brokerage OGARAJETS has moved one step closer to more-efficient aircraft transaction management. The company launched its new Five-1-Five approach to ensure its clients are delivered the services they are promised.

The new approach bears an American interstate highway logo. OGARA believes that there are five large ‘buckets’ to buying and selling an aircraft. If customers make one mistake in any of these buckets, they can incur up to five times the cost. Hence the name Five-1-Five.

For aircraft buyers, those five critical areas are:
1. Mission Analysis
2. Data Analytics
3. Due Diligence
4. Closing
5. Post-Closing
For aircraft sellers, the top-five key areas are:
1. Aircraft Audit
2. Data Analytics
3. Tailored Marketing
4. Pre-Sale Due Diligence
5. Closing

President and CEO of OGARA, Johnny Foster, says: “We like the idea of it being a highway and us being able to help buyers and sellers navigate the bumpy roads of an aircraft transaction.”

OGARA has a thorough system for ensuring the safety of an aircraft transaction. Foster said the company’s prime closing agent has a 125-step checklist only for closing an aircraft sale.

While the company has not added anything new to its processes, Foster believes Five-1-Five will give it an edge of competitors. OGARA has invested “four and a half decades” in the processes it currently uses.

He added: “There are many pitfalls that are involved in any one of the buckets. Five-1-Five gives us an edge because we’re able to talk competently about all aspects of the transaction.” And this is especially important since transactions are increasingly complex and involve multiple parties in multiple (global) jurisdictions.

Foster stressed that irrespective of a buyer’s or seller’s experience, the risks associated with missing any number of critical steps can be significant.

“It is therefore incumbent for the engagement of an assembled team of professionals. If not through OGARAJETS, I highly encourage the engagement of another IADA Certified Broker.”

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