, 2023-01-22 00:53:48
Magellan Jets enters its 15th year with its most significant expansion. It comes after racking up a record $125 million in sales during 2022. Last year, the Quincy, Massachusetts-based jet card and charter broker moved into new headquarters, doubling the space of its operations center. It starts 2023 by opening its first private terminal and adding aircraft sales, acquisitions and management to its services.
The moves come as demand for private jet charter flights and preowned aircraft has started to slow. The broader economy is seeing major layoffs and belt-tightening from the likes of Microsoft, Google and Goldman Sachs, which recently cut free coffee for employees. For Magellan’s three cofounders, bumpy skies are nothing new. The trio launched the company in late 2008 after exiting another broker, subleasing office space from a business that had closed.
The Great Recession marked the beginning of a lost decade for business aviation with a crash followed by tepid growth and depressed pricing that lasted until the Covid-induced tidal wave that took the industry to new records. During that period the partners, CEO Joshua Hebert, Anthony Tivnan, who serves as President and Greg Belezerian, who is Executive Vice President, built the company into one of…
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