OWN THE JET

In this episode of Own the Jet, we sit down with Preston Holland of Prestige Aircraft Finance to unpack one of the most mission-critical pieces of any jet acquisition: financing strategy.

Preston shares how buyers lose millions by assembling the wrong transaction team, why cash isn’t always king, and what lenders actually look for when evaluating aircraft deals. He breaks down common misconceptions, the difference between personal and business jet financing, and how aligning the right team early can protect your investment and your time.

Whether you’re buying your first jet or looking to restructure your current financing, this episode is full of practical advice that will help you make smarter, more confident decisions in the high-stakes world of private aviation.

To learn more about private jet financing with Preston Holland, visit prestigefinance.com. And check out Preston's Newsletter Private Jet Insider at prestonholland.com as well has his video podcast The VIP Seat at www.youtube.com/@the_vipseat.

What is OWN THE JET?

OWN THE JET dives deep into the world of private jet ownership, operations, and the private aviation lifestyle. Whether you're purchasing your first jet, managing a growing fleet, or simply passionate about aviation, this podcast gives you insider access to the conversations happening behind the scenes.

We feature real owners, operators, and aviation leaders sharing their experiences, strategies, and lessons learned — from the flight deck to the boardroom.

OWN THE JET - the official podcast of Aspen Aero Group.

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I have watched so many

people lose millions of dollars

because they had the wrong

transaction team around them.

And that's not even financing.

If you're paying cash, real

estate guys are really bad

at this, anybody who does

like deal junkie type guys

are really bad at this.

They're like, oh yeah, I'm

gonna run my own transaction.

Be sure to assemble a

good transaction team

that you can trust and it

will take you a long way.

Welcome to Own the

Jet by Aspen Aero Group,

where we share perspectives

from some of the leading voices

in private jet

ownership and business aviation.

I'm your host, Derek Savage,

along with my co-host Jason Spoor,

president of Aspen Aero Group.

Our guest today is Preston Holland

from Prestige Aircraft Finance

and the author of the

Private Jet Insider Newsletter.

Preston is passionate about making sure

his high net worth clients are getting

the right finance

solution for their situation.

Join us as we dive deep

into the mechanics, mindset,

and moments that define jet ownership.

And together, we'll learn

what it takes to own the jet.

Hey Preston Holland,

thank you for joining us

on Own the Jet.

Yeah, thanks for having me.

This is fun.

The cool thing about

having you on the program here

is that you have a unique ability

of taking all of these

crazy, amalgamous things

that people don't

understand and distilling it down

into something that's easy

for someone like me to get,

right, that doesn't know

anything about private aviation,

the finance world

surrounding private aviation.

It's like you have a gift for that.

Yeah, for sure.

Happy to have you on the show,

happy to be talking to you about this.

Super glad you're here.

Yeah, I think the cool thing is,

one of the things that

you guys are doing here

that I think is gonna be really helpful

for you over the long

term is it's a muscle.

Explaining things in a really simple way

is only achieved by repetition.

And so I was actually

having a conversation

with a friend of mine and he was like,

"How do I find my voice in my industry?"

And he was like, "I don't

feel like when I say things,

"I don't exactly say them right."

And I told him, I said,

"Look, if you look back

"on the history of any

sort of content that I create,

"the early stuff is terrible."

It's not good, it doesn't read well,

it doesn't get any

engagement, all that kind of stuff,

but you literally have

to put the content out.

And as you do that,

you'll find your voice

and you'll see what

resonates and you'll understand.

And so what I think is

cool about what you guys

are doing here is this is

a regularly cadenced show

and it's not just one

part of the industry.

And as it continues, it gets better

and it's really hard in the beginning.

It's really, really hard to get started,

but you have to push through that point

and then it becomes understandable.

It becomes a big muscle.

Yeah, exactly.

Exactly, it's like

working out or it's like,

you have to train that

and it's inside your brain.

And so I write a newsletter,

it's called The Private Jet Insider.

You can find it at pressinholland.com.

It's distilling down complex concepts

and making them

digestible for the everyday human.

That's what I like to do.

So anyways, it's a

little background on me.

Excited to be here, thanks for having me.

Let's talk about prestige.

So because prestige

is your day job, right?

I mean, that's like what you do.

Exactly.

This is what people may know you for.

I create content for fun.

Like it's literally a block and I'm a

practitioner by trade.

Right, but your company is prestige.

Yeah, so I own an

aviation finance brokerage,

debt advisory service.

Essentially what we tell people is

when you call your bank, they will do

your RV, your house,

your line of credit,

they'll probably do anything

business banking that

you could possibly need.

And then you're gonna call them and say,

I'm buying an airplane.

And the president of

the bank is gonna go,

well, we have one on the

books, we have no idea.

How to help you.

Exactly.

And so we help people

navigate the fairly complex world

of aviation finance and

structuring and understand

we create market efficiency, right?

So we work with a platform

of about 35 to 40 lenders

that we do consistent transactions with,

and then a network of

another probably 20 on the backend.

And that ranges from household names

to banks you've never heard of,

to private debt funds,

to leasing companies,

kind of across the spectrum.

We sit down with a client, we say,

what's the right answer for your need?

And we typically

collaborate with the broker,

the tax person,

somebody like KJ, an attorney,

put together the transaction team,

and us, the transaction

team, shapes and forms

the transaction to be the

right structure for the client.

And so we'll work with the

broker on pre-buy inspection,

and we'll work with them on

maintenance tracking and specs,

and all of the technical

aspects of the aircraft.

We will deal with the

capital market side.

So we have relationships with lenders,

we're oftentimes able to

drive market competition,

which creates the best

structure for our clients,

and then hopefully

have a successful outcome

so that when they go

to do their next one,

we're gonna run it back

and do the same thing.

And I probably talk

myself out of 30% of deals,

20 to 30% of deals, I'll sit down with

either the principal

or the CFO or the

head of the family office

or the controller, whoever kind of,

whoever does the cost

of capital calculation,

and I'll say, what's

your cost of capital on XYZ?

And they tell me, and I say, look,

you're not gonna beat

that on an airplane loan,

so you're probably better off doing that

until rates readjust and

maybe we could do a cash out refi,

or your cash isn't really

earning the type of returns

that make sense to put

leverage on the airplane,

or hey, you have this

beautiful stock account,

it's currently uninhibited,

and you can take credit lines off that.

I had no idea.

I don't wanna sell this

stock to avoid capital gains,

and I wanna buy an airplane.

Well, have you thought about taking a

stock portfolio-based

loan instead of putting

leverage on the airplane?

Maybe, maybe not, right?

And so, yeah, we try to

be consultative in that.

And then even if they don't end up

needing your services,

you help them out. Exactly, exactly.

And typically it means that now,

the next time they go to buy something

and they can't do that,

they're calling us and saying,

okay, you were honest with me.

So, yeah, that's the whole goal.

So if I'm getting into that conversation,

what's the first

thing I need to ask myself

about my situation, and

then what's the first thing

you're gonna ask me?

You need to ask yourself,

what does my next five years look like

from a capital investment in my business?

So am I trying to buy another company,

expand more regionally,

am I trying to do a merger

with another franchise and

take over a new territory?

And what type of capital requirements

am I going to have for that?

If the answer is no, and

you're sitting on a fat pile

of cash and you are risk averse,

the answer may be pay cash.

But if you're on the growth trajectory

or you have your cash

returning 12, 15, 18%,

which is not uncommon

for many of my clients,

it makes no sense to not

take a six and a half percent

today loan on your airplane.

Because that cash works

better for you elsewhere.

So that's the number

one thing that you need

to ask yourself as you

go to buy an airplane.

Okay, and then maybe the next question,

because this has been a huge topic,

is the new bonus depreciation situation

and how that plays into

that part of the conversation.

Because now the rules

have changed a little bit

as opposed to what they were last year.

So can we talk about that a little bit?

We look at this

through a holistic picture

when we are looking at giving advice.

Because we have a

responsibility to our clients

to give educated informed advice

and then also synthesize

what the rest of our clients are doing.

And accurate.

Exactly, accuracy,

like how does this play?

In a bonus depreciation environment,

if you're in the 27th tax bracket,

27% tax bracket, which most

of our clients are, right?

When you finance your

airplane and you're putting 20% down,

typically the back of

the napkin math says

that the savings from a tax perspective

is about 20% of the purchase price.

So really you're not having

to come up with a lot of cash.

So you may put the cash

down and then in three months

have the savings from a tax standpoint.

But it kind of rough back in the napkin

math equates to that.

So you're really only

paying your interest expense

over the life of your

ownership of the aircraft.

Now, this is not tax advice to be clear.

I am not a tax professional.

But what a lot of my clients

are doing is they're saying,

I'm gonna use that depreciation expense

or that depreciation

savings as my 20% down.

And then I'm basically just

paying my cost of capital,

which is today

somewhere between six and 7%.

And that's really my

cost of my carrying cost,

plus the real depreciation that happens.

The financing

conversation becomes easier to digest

in a bonus depreciation environment,

as opposed to in a 40%,

you're still having all this cash expense

and moving stuff here and there.

And really at the end of the day,

it might just make

more sense to pay cash.

And then you can also deduct your

interest expense over time

at the same proportion

that you have business use.

So let's say, Jason's gonna

come pick me up on Friday,

we're gonna go play golf as well,

we're in the industry,

might be a business expense,

who knows?

(laughing)

But he may take--

Big talk, business, carrying cost.

Maybe he takes his wife to

a fancy dinner in New York.

That probably doesn't count.

So he does that 10% of the time,

90% of the time is for business,

he can deduct 90% of

his interest expense.

So there's other

calculations that go into that.

And a lot of times our

clients have better uses

for their cash than just

sitting in an airplane,

especially in a rate

environment, surprisingly,

it's easier to make the

justification for financing

in a slightly elevated rate environment

than a 0% rate environment.

Because it's all about risk-free yield

and that would get very, very technical.

But talk to your financial advisor,

figure out what your cash is making,

then call me and I'll say,

yeah, probably makes sense,

or no, it just

definitely doesn't make sense.

Yeah, so in terms of the

way everything's calculated,

you were explaining to me earlier

that there are three kind of like letters

that you can pull in the way

that they interact with each other.

Can you tell me a little bit about that

so I can understand

it a little bit better?

We talk about structuring the loan.

Yeah.

You have three main components

and then there's some

fringe kind of back-end stuff,

but your three main

components are down payment,

amortization and interest rate.

Those are the three things

that we're really gonna focus on.

They're interrelated, so

they're levers that you can pull.

If I wanna drive my interest rate down,

I can put more cash

down, keep the amortization.

For those that don't

know the word amortization,

because it's a financy term.

If you think about your home loan,

you have a 30-year home loan.

Well, home loans are

calculated as 30-year term,

30-year amortization.

So my monthly payment is

as if I have a 30-year,

but I can hold it for 30 years.

Airpoint transactions

are typically structured

in a five-year term and

an amortization period

that is longer than that.

So there's a balloon payment

at the end of the five years.

It's a commercial lending regulation.

There's a whole reason

why that is the case,

but that is typically

how they're structured.

So when I talk about amortization,

I'm gonna pay as if

it was a 15-year loan,

but at the end of the

60th month, the fifth year,

I will have the

outstanding balance will come due.

That's the end of the term.

So when I talk about amortization,

that's just so that everybody's kind of

on the same playing field.

So down payment,

amortization and then interest rate.

Those are the three levers.

So if you wanna lower interest rate,

shorten up your amortization,

or raise your down payment.

Interest rate is

calculated based off of risk

of not repaying.

At the end of the day,

the bank needs to yield on their money.

So if you're more risky, your interest

rate will be higher.

They will require a larger down payment.

And the down payment

amortization has to do with,

if the bank has to go pick it up,

the bank does not

want that airplane back.

Right. Right.

Period. Right, right.

I don't know if you've

ever had a client go to fault,

but it's really rare.

Like the bank is gonna

try and work with you.

But amortization, it

depends on what equity position

you're in the aircraft.

And it is what determines a

lot of your monthly payment.

And so if you want a longer amortization,

you may have to come with

another five or 10% down.

Or you may have to pay

another 25 or 50 basis points

a quarter to a half point of interest

in order to get that longer amortization.

So we can play with those three levers

depending on what your priorities are.

So if you're saying my cost of capital,

which is a fancy way

of saying interest rate,

is the most important thing,

well maybe we'll come

in with another 5% down,

shorten the amortization by three years,

and we can maybe drive

that down by 50 basis points,

a half a percentage.

Maybe that's important to you.

Maybe you're a cashflow guy.

You say I want the lowest

possible monthly payment.

So maybe we'll pay a

little bit more in interest,

but we're gonna kick the amortization out

as long as we can and

have as little money down.

So it's those three things really

interplay with each other

when you're talking

about structuring a lot.

That makes total sense.

Yeah. Yeah.

So if somebody's trying to work these

three levers, right,

have you been into situations where,

let's say you're talking to a broker

that's representing somebody and they're

trying to buy a jet,

have you been in

situations where it's like,

look, this may not be

the right fit for you

because I'm pulling

all the levers that I can

and it's just not matching up?

It happens, I would

say it probably happens

15 to 20% of the time.

Okay. Yeah.

Now there is always, you

can get to a yes, almost.

It's almost, you can get to yes.

I mean, I've gotten to yes

as a pretty crazy background, you know,

there's like the whole like,

oh, you have something crazy that

happened in your background

or when I Google you, like

the first thing that pops up

and you're like, ooh.

(laughing)

But you got like a mug shot,

the article about what they did.

It's like a lawsuit. Oh, yeah.

If you wanna know if you

can get approved for a loan,

Google your first last name lawsuit,

and if something pops up in the top,

it's gonna be challenging.

I mean, it just, if there's

anything like that's serious,

like it's not something

petty, like it's gonna be tough.

The answer is always yes.

We can go to the private markets.

We can go-- Yeah, get it there.

Yeah, we can go get an asset-based loan,

but you're gonna come out with 40% down.

It's gonna be like,

High interest. So far plus 8%

as the floor, and it's

gonna go up from there,

and it's gonna be straight

amortizing a five-year term,

five-year amortization,

your monthly payment's

gonna be out the lawsuit.

We can get to yes.

Yeah. That's just--

That's not what you wanna pay for.

Exactly. What about chartering?

Because you've got a

whole thing about chartering

and debt service and cash

flow positive and all that stuff.

There's two types of,

I'm gonna charter my jet.

And you've probably seen

this with some of your clients.

You have like, I'm a rich

guy, I'm gonna buy the airplane,

and some guys are really risk averse,

and they put it on a charter certificate,

and I tell people you

should at least think about this,

is if you're gonna let your

buddies borrow your plane,

chartering it to your friends

gives you an extra layer of insulation

that dry leases don't

give you as much insulation,

not legal advice, not tax

advice, just to be clear.

A lot of people will

throw it on a certificate

so they can kind of

charter it out lightly.

That is one type of customer, which is,

I have the money, I don't

need the charter revenue.

I'm just, it's nice to have,

I may charter it here and there.

I'm gonna put it on the certificate,

it's gonna stay compliant

for 135, all of those things.

But from time to time, I will charter it.

That's one type of client.

No problem, lenders are

gonna have no issue with that

because you're not

massively depreciating the airplane

by putting more hours on it.

It's just nice to have.

That's totally fine.

It really doesn't

limit your scope of lenders

that will do that transaction.

Then you have, I'm gonna fly 50 hours,

and then I'm gonna

charter that 400 hours.

Basically, you're the next net jet in

your own mind, right?

You're just doing the

whole business model.

Correct.

And you can do it.

There are scenarios in which,

essentially what you're

doing is you're doing it

off of your signature.

So you're borrowing from

the bank on your signature,

on your balance sheet,

and then you're basically

borrowing for 6% and

you're ready to return

to your charter operator,

it might be 8.5%, right?

So you're making a spread there.

You're making some sort of spread there.

The problem is you're

depreciating the airplane.

Right.

If I was gonna ask you how

much is this airplane worth,

what's one of the first

questions you're gonna ask me?

This is a spec.

If it's a 135 or a 91.

Yeah, exactly.

How many hours, right?

Yep.

Right, well, right.

Whether it's been operated in 135

or whether it's been operated in 91.

Right, exactly.

I'm gonna say, hey, this airplane--

Has it been chartered or it's been--

Right, so yeah, to be clear to me,

the layperson here, 135 means charter?

The chartered airplane.

Okay, and 91, was it?

Is a privately operated--

Yeah.

All that stuff.

Exactly.

No revenue.

I drew this illustration.

I stole this from the FAA, to be clear.

This is like the one

piece of clever writing

I've ever read in FAA documents.

The FAA defines 91, like if

you're gonna do a dry lease

as a rental car.

Okay.

And a 135 as an Uber or a taxi.

And it makes that, it

draws that analogy here.

It literally draws out that analogy.

It's like, you can go

rent a car from enterprise,

that's a 91 dry lease.

Okay.

135 is you're paying for an Uber.

One transaction, I pay

you, you take me, that's it.

That's just like a easy way to like--

It makes sense.

Figure out the difference.

Yeah, right.

But it's, I'm gonna

ask, you're gonna ask that.

And then the next question is, how many

hours does it have on it?

Yep.

And when it's on a 135 certificate,

and I'm flying 50 and

I'm flying at 400 hours,

I'm now 100 hours over the fleet average,

which may be 350 hours, right?

Like--

Yeah, most likely.

Yeah.

Like I know that like

in the large cabin space,

that the fleet average kind of goes up

because you go longer.

Yep, exactly.

But you're looking at the fleet average,

and this guy has

chartered the absolute bejesus

out of this airplane.

Right.

So it's gonna depreciate faster.

Well, the bank doesn't

want to be in a backwards,

they, the bank will not let

you be upset on the airplane.

So your amperstition is shorter.

Like that's, but those

are the two types of clients

that are saying, there is,

I'm going to charter this,

opportunistically, and then there's,

I want to make this make money.

And then there's even guys who go,

they're kind of

fringy, approvable, right?

Like they could be approved, maybe not.

And then they're like, well, I'm gonna

have all this cash flow

from the charter.

And the bank's like,

we're just not gonna count it.

Do they try to get into

situations where it's like,

well, maybe I don't want to

buy it myself and charter it,

but I want to get into a

fractional ownership situation

with other people.

Like what is that?

Yeah, that's different.

They like, well,

there's, so there's like,

NetJets, FlexChat, that's like, I'm

signing up for a program.

And then there's me and

Jason are gonna go buy

an airplane together.

The bank will look at global cash flow.

So like maybe I could

afford to have a half airplane

or like, we're gonna buy a

$10 million plane together.

I could afford a $5

million plane on my own.

He can afford a $5

million plane on his own.

Together we can afford a nine million.

Like it's not one-to-one,

but yeah, you can get together

and do kind of shared ownership.

And you can finance it.

You have to really like

your partner, first of all.

Yeah, a lot of friendships

and with joint ownership of airplanes.

Now you've had to kind

of like come in clutch

for people before, right?

Like whenever like

things were down to the wire

and you told me a

story about Mexico earlier.

Yeah.

Can you share that with us?

Yeah.

Yeah, what happened

where you had to kind of like

really go a little bit above the on?

Yeah, so I had a client this year

and we were running up

against his purchase agreement

that expired on the 31st

and his deposit had already gone hard.

So in this scenario, he

had a $2 million hard deposit

that technically, according to the APA,

the seller could walk

away with on the first.

They could just walk away.

They could wipe their

hands in the deal the month.

So basically it's like,

you've got to give us $2 million

in order to get

started on this transaction.

But if for whatever reason it

doesn't get done by this date,

we have the option of keeping that.

Yeah, I don't know how you

structure your transactions.

This is a little plug for

like using the right broker

because I've had deals where the broker

structured the deal terribly.

Okay.

But your broker is

going to help advise you

on when you want that to be

able to be non-refundable.

Right.

Because refundable at first

and then it becomes

non-refundable at a point.

And the reason you do that

is you don't want to like

leave people hanging, is that what it is?

Or you don't want the

thing to be off the market.

Yeah, this is, well right.

You know, after a

certain amount of time goes by,

you want to guarantee the seller that,

hey, this is going to work.

Yeah.

You know, we've

already taken your airplane

pretty much off the

market for however many weeks.

Yeah.

So there has to be some reciprocating.

And that's usually it

with the money going.

Okay, so you're not

just stringing them along.

Exactly.

Because there's like a soft

deposit and a hard deposit.

That's right.

It starts soft, right,

up to a certain point.

And then once we hit a certain threshold,

then it becomes a hard number.

Yeah, which means it's non-refundable.

So this contract explodes on the 31st.

It's the 27th.

I'm calling this guy

four times a day, every day.

Hey man, I know that this is

going to sound preposterous,

but the bank requires a wet signature

on your loan documents.

It's like 70% of banks probably require

wet physical blue ink signatures.

He's at his hotel in Mexico.

Okay.

The attorney is in Oklahoma.

The bank is in Florida.

And so--

And you're where?

And I'm in Chattanooga, Tennessee.

So I'm at home, at my office.

Lots of--

It's like there's a

lot of people everywhere.

The broker is calling me as

often as I'm calling the client.

We're both trying to get

in contact with this guy.

You have to sign these documents.

And he calls me and he's like,

"Hey man, what's going on?"

I was like, "What's going on?

I've been calling you for two weeks."

I said, "I'm going to

email you these documents.

I need you to print them."

Single-sided.

Print, sign, scan, send.

I had my finger on the

button at Delta to get on a plane,

to find him.

Literally, I was going to go--

I was going to go for him.

I was going to go sit in the lobby.

The broker is texting

me, meantime, nonstop.

Have you gotten it done?

He's freaking out.

He's freaking out.

His money's on the line.

So I'm like, "Okay."

So I've got everything.

And I said, "All right, I need you to

take this up there."

I get the scan, I send it in,

and we closed, I think,

48 hours before the deposit

went and walked away.

And I don't think the VA understood,

the lady at the hotel understood,

not even sure the client understood

how expensive it was going to be

if he didn't sign those correctly.

This is exactly why you

wouldn't have the right people

in this situation, because, you know,

Preston's going to do what it takes.

Make sure it happens.

Some other dude might not.

Right.

It's not my problem, buddy, it's yours.

And having a broker

that had the foresight

to kick the hard deposit out further,

because he knew no one could get in

contact with his client.

So it may not have anything

to do with anybody's fault,

other than the fact this

guy doesn't understand.

Yeah.

But he knew that,

because this has been

working with the guy for two years.

That's awesome to get to this point.

Exactly.

Did it happen recently enough

that he's able to get the bonus

depreciation for the--

It actually happened late enough.

He was supposed to

close before the deadline.

Okay.

Because he was unresponsive,

he saved himself a lot of money in tax.

There you go.

Oh, yeah.

Isn't that crazy?

He was supposed to

close on like January 4th,

and then he didn't close like--

Maybe he had it all planned out, man.

He was planning on each

test with the whole thing.

He's playing chess when

we're playing checkers, so.

Yeah.

Before we go, Preston,

is there anything else

that you can think of that

other people might need to know?

I do want to plug the VIP

seat with you and Jesse Nayer.

And I also want to plug,

you know, your newsletter,

the Private Jet Insider, which is not

only on your website,

but is also published on LinkedIn, right?

Yep.

Anything else before we

take off that we need to be,

that a private jet,

potential private jet owner,

needs to be thinking about

that you want to leave us with?

Yeah, I think, look, you

cannot cash flow positive a jet.

I don't care how many

times you see it on TikTok.

I don't care how many people,

how many times you listen to

whoever is going to tell you

that you can cash flow positive a jet.

It's almost a platform that I have,

is like, it's just not going to happen.

When you're thinking about

buying and owning an aircraft,

they're assembling the

right transaction team.

We talked about this

earlier, but I want to just,

I want to double-quick.

I have watched so many

people lose millions of dollars

because they had the wrong

transaction team around them.

And that's not even financing.

If you're paying cash, real estate guys

are really bad at this.

Anybody who does like

deal junkie type guys

are really bad at this.

They're like, oh yeah, I'm

going to run my own transaction.

Or I'm going to go

get something off market

because this guy told me I

have something off market.

Oh, and I'll have to pay a fee.

Like those are all of the ways

that you are really getting screwed over.

So assemble the transaction

team and assemble it early

and check your references and know who

you're working with.

Because if not, you can get taken.

And the thing is about this business,

when you're talking about

transaction sizes this large,

it tends to bring out

some very curious characters.

Yes, yeah, yeah, yeah.

Avoid those as much as you can.

The only way to do that is

to have a transaction team

that is all working for you

and not all the same people.

Because everybody's

holding each other accountable

and keeping each other in check.

Be sure to assemble a

good transaction team

that you can trust and it

will take you a long way

in all of your transactions.

That's like my big plug.

And I'm a huge fan of high

quality transaction brokers

that know what they're talking about

who have years and years

and years of experience.

There is a movement towards,

you can sell jets with

no experience necessary.

There is, yeah, yeah.

There is a lot of experience

necessary to sell airplanes.

So that's my--

Especially when a lot

of commas are involved.

Yeah, exactly, exactly.

When the commissions are

big and someone can sell

one airplane and go sit in their basement

for the rest of the year,

it just go with known

entities, go with known commodities.

That's my rant, I guess.

I'll get off my soapbox now.

That's good, that's great.

Awesome.

It's a pleasure.

Dude, thank you so much for being here.

This is fun.

Thanks for having me.

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