Jet Advisors President working for PhD
I am often asked why I am pursuing my PhD? The implied question is really, what will it do for an aircraft acquisition, brokerage and research company like Jet Advisors.
The answer is: the results of my PhD program will greatly help refine our research methodologies. The PhD I’m pursing is primarily a research program in aviation and will be focusing on aircraft values. The largest single financial event in the ownership of the aircraft is the day you sell the aircraft and close the books on your true cost for the aircraft. My studies will focus on understanding how aircraft values fluctuate within their respective categories and how those categories are correlated with the world’s leading economic indicators.
The PhD Program in Aviation at Embry Riddle Aeronautical University is the first of its kind. In the past aviation professionals were forced to study under a different discipline and hopefully be allowed to pursue an aviation topic. Today I have the privilege of studying under some of most knowledgeable aviation professionals in the world.
The program is focused on research. Each student is expected to use statistical modeling to prove or disprove their hypothesis. We are expected to find a topic of study and expand the body of knowledge about that topic.
Why aircraft values? Understanding the value of aircraft is important to the US economy and the resulting knowledge can provide many jobs. In 2005, the general aviation market produced $150 billion dollars and provided 1,295,000 jobs. In the last two years, many of those jobs have been lost. The aircraft manufacturers play a major role in exporting throughout the world and we want to improve the understanding of the value of aircraft so that US can continue to lead the world.
How does this help our clients? General aviation needs well informed aircraft owners who buy the right sized aircraft for their needs. Many owners buy an aircraft based on improper data, which could lead to a permanent exit from aircraft ownership. We want our clients to fully understand what their costs and benefits of aircraft ownership will be and make an informed, rational decision based on the empirical data Jet Advisors provides. This will create a group of owners who can sustain their ownership through good times and bad.
The PhD program is demanding but represents a worthwhile challenge. It will further refine our research and afford Jet Advisors the analytical tools to inform our clients even better than before.