Steve Varsano started in aircraft brokerage in 1980, left for 17 years in private equity, then returned to aviation. After the Cold War ended, emerging markets in Russia, India, and China created a surge of corporate jet demand that US aviation companies ignored. He built a showroom to serve these international buyers without traveling to each country.
Chapters
I started in the aircraft brokerage business back in 1980. Most of the industry was in the United States. I left the industry for quite a while. I went into private equity, and I was in that world for about 17 years. When I came back in the market, all of the demographics of where the corporate jet owners and buyers were changed due to the early 1990s. Cold War ended, and just the world changed drastically. And all of a sudden, all of these emerging markets in, let's say, Russia and India, in China, Nigeria, all these places started really developing, bringing forward a lot more industries and and business people that needed to get around the world, and commercial aviation wasn't really servicing them enough. So they needed to buy corporate aircraft to be able to get from point A to point B. So when I came back in the industry, I noticed that, and it was a huge, huge neglect of any non-US aircraft buyer or seller. So we just thought that it was a great idea to go and service those people. The problem is you can't go around to all these countries to see them for a 1-hour meeting. So the idea came to me, how can I build something where