Size Matters
When one talks about size, it’s not quantity that’s important; it’s quality, attention to detail, and an ever-improving service. London Executive Aviation (LEA) is now one of the largest Business Aircraft operators in Europe, but it does not mean they are too big to care. As the picture shows even the directors are prepared to get out the ‘Marigolds’ when the job demands.
LEA has added a second Citation Bravo and another example of the ever-popular Citation Excel, and the fleet now stands at 14 aircraft including 7 jets. The company has also recently opened another base at Farnborough Airport, south west of London. “We found ourselves positioning aircraft to Farnborough on a regular basis, so it made sense for us to have one based there. In addition, TAG’s new facilities and high aspirations for the airport were definitely a deciding factor,” says Amanda Galanopoulos, LEA’s Operations Director.
For seven years the proven management team has refined and developed LEA from a single aircraft operator to probably the largest executive aircraft charter operation in the UK. ‘Fleet improvement and service refinement are ever continuing processes within the company’ says George Galanopoulos LEA’s Managing Director. ‘Indeed as a direct response from our clients we are in the middle of a programme to fit all turbo prop and jet aircraft with the latest satellite in flight telephones’
Although the Iraqi war has had an impact on the industry, LEA are upbeat about the prospects for the industry. Says George Galanopoulos ‘Last year and indeed the beginning of this year have been tough times for the whole air charter industry. However many companies panicked and dropped their rates to attract business. We decided to hold firm, and were aware of industry eyes on the company, but our confidence proved well founded and despite this difficult period the company performed relatively well’
Indeed at this time of flat markets, falling orders of new aircraft, price’s for previously owned aircraft are proving excellent value for money. For those wanting ‘economical exclusivity’ aircraft management is an ideal way of achieving this desire and is an expanding part of the LEA business portfolio. Its experienced, no nonsense approach is giving many astute owners a cost effective, time efficient answer to charter needs.
Since the end of the Gulf War business have been steadily increasing for LEA. The company has a number of US customers who have now returned to their European business. However the remainder of 2003 and the first half of 2004 is expected to be fairly flat, with the market starting to recover in earnest from this period onwards.
Having a management team that sees innovation as a key part of their business strategy, new ideas on relationships with other operators are constantly being pursued. But consolidation is inevitable - because the highly regulated character of the industry and its capital-intensive nature, will force many smaller organisations to become uncompetitive. LEA will play a keen part in this process and is anxious to see acquisitions as a way forward to pursue their long term plans.
LEA has orders for a number of new aircraft in the future, with deliveries due to start in 2006. “We have been approached by many aircraft manufacturers, but I expect to remain a loyal Cessna customer,” concludes George Galanopoulos.