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Since introducing the first accreditation and certification programs for aircraft transaction specialists, the International Aircraft Dealers Association (IADA) has transformed the industry and elevated the professionalism of its experts. Since 2019 when the dual programs to boost competence and integrity began, IADA has expanded its membership by 13 additional dealers, or nearly 30 per cent.
Moreover, more than 100 aircraft brokers are engaged by the organization’s 46 IADA-accredited dealers and six OEM members. Collectively, the group represents the top seven per cent of the world’s aircraft transaction experts, doing business in more than 100 countries. Additionally, IADA-verified Products and Services (P&S) membership has expanded over that same time period by 14, to a total of 62 P&S members who handle all technical aspects of aircraft sales and purchases.
Internal Disciplinary Process Developed to Enforce High Ideals
The core purpose of IADA is to encourage adherence to high business, ethical and safety standards by all elements of the aircraft sales industry. The organization does that by shaping and influencing the aircraft transaction industry through initiatives and programs like broker certifications, dealer accreditations and products and service member verifications.
“In keeping with its high ideals, the organization recently introduced a formal internal inquiry and disciplinary process to investigate and recommend membership action regarding claims submitted by members regarding the ethical and business practices of dealers, OEM members and P&S providers,” said IADA chairman Joe Carfagna, Jr. “This innovative program creates a more efficient marketplace, facilitates ethical transactions and provides industry transparency,” he added.
AircraftExchange Marketing Arm Active Despite Pandemic
The organization’s exclusive marketing arm, www.AircraftExchange.com, handled 500 aircraft transactions worth $4.5 billion during the first 11 months of 2020. Today, the IADA online marketing site is on track to handle 550 aircraft in 2020, despite experiencing the most volatile sales environment in the aviation industry’s history due to the ongoing pandemic.
Today, the organization lists more than 500 business aircraft for sale on its site. The aircraft range from turboprops to VVIP long range business jets.
IADA Foundation Activity
During 2020, the need for financial assistance for college students seeking scholarship aid from the IADA Foundation reached a new high. More than 100 qualified applicants sought educational financial support through their colleges’ financial offices.
Recently, the IADA Foundation gained status as a 501(c)(3) tax-deductible charitable organization that provides aviation scholarships to students seeking careers in business aviation and other industry specific charitable contributions, all of which ensure the long-term success of business aviation.