Isn’t it great to think we are a part of an industry that is waking up to the idea that good ethical behavior and transparency is not an option but a mandate? For too many years, full disclosure by all involved in a preowned aircraft transaction could not be assumed to be the norm. In fact, many knew that was not the norm. It was right below the surface. Third-party undisclosed payments and finders’ fees being paid were just the way business was done. By the way, the problem was not limited to the buying and selling side of the business. MRO and paint and interior shops, as well as engine overhaul shops, were all acting with this silent process.
I have written several times about NBAA issuing a statement of ethics paper two years ago. That is a perfect acknowledgment of the focus, direction, and vision of our industry. I am on the board of one of the most renowned animal science foundations in the world, Morris Animal Foundation. I was at our quarterly board meeting a couple of weeks ago and one of the slides said the organization operates as if it is in a fishbowl with "radical transparency." I was struck by that phrase. Radical transparency is the belief that all corporate entities should be honest, open, and straightforward.
Jay Mesinger is the CEO and Founder of Mesinger Jet Sales, an international aircraft brokerage firm, and has been regularly contributing to AIN since 2018.
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