From Left to right: Founders Al Qualey, Matt Huff, Jack Prewitt, Spencer Brett, John Foster, and Johnny Gantt. Other founder not pictured is Jerry Smith
May 16, 2014 -- The National Aircraft Resale Association (NARA) annual Spring Meeting was held last week in Dana Point, California, where the group celebrated 25 years since it was formed and introduced a continuing education program to meet the new guidelines for NARA Certified Broker/Dealer status. A new record was also set at the annual meeting with 175 NARA Brokers/Dealers and Products and Services Members in attendance.
“The NARA Certification process assures the highest degree of confidence when buying or selling new and previously owned business aircraft, the ongoing educational seminars were added as an important part of maintaining standards,” commented Brad Harris, NARA Chairman and CEO of Dallas Jet International. “We plan on doing this twice a year and will have other educational opportunities for our members to stay current and meet the new requirements for certification. The great turnout by our membership proves that this group recognizes the value of the NARA organization and we will continue to raise the bar for the Aircraft Broker/Dealer community as our industry continues to recover,” added Mr. Harris.
The new educational seminars were divided into three different sessions. “Legal Changes Affecting Aircraft Brokers” was presented by Ed Kammerer from Hinckley Allen and Snyder. “Understanding the 1031 Exchange Process” was presented by Tobias Kleitman with TVPX 1031 Exchange. And George Kleros with Jet Support Services, Inc (JSSI) presented details on how to select the best maintenance facility for your aircraft.
Special guest speakers included Jeff Dietrich, Senior Analyst, of Institute for Trend Research, Duane E. Knapp, Chairman & Founder of BrandStrategy, Inc. and David Friedman, President of Wealth-X. The annual meeting participants also heard from the NARA Founding Fathers as they conducted a panel discussion on how business aviation and the art of buying and selling aircraft has changed in the past 25 years and where business aviation is going in the future. The NARA founders include Jerry Smith, John Foster, Al Qualey, Matt Huff, Johnny Gantt, Spencer Brett and Jack Prewitt.
All NARA members follow a strict NARA Code of Ethics and Broker/Dealers members must pass a rigorous application process, established last year, in order to become an exclusive NARA Certified Aircraft Broker/Dealer. NARA Products and Services Members are selected from the most admired and experienced providers of products and services to business aircraft owners and operators.
NARA is a professional trade association comprised of selected aircraft sales and brokerage businesses that are NARA Certified and aircraft product/services companies that adhere to the highest professional standards. Promoting the growth and public understanding of the aircraft resale industry, NARA’s members abide by an elite 14-point Code of Ethics that provides standards of business conduct regarding aircraft transactions. For more information about NARA, its members and its code of ethics, visit the NARA website at www.NARAaircraft.com