hollywood billionaire

Chapter 221
"JPMorgan Chase...what do you usually use this plane for?"

Ten minutes later, the Jet Linx team of Han Yi, Corey and Chris Curtin appeared in the hangar where the N10CH was parked.

Teterboro Airport has only 1 main terminal for general aviation, and another 19 hangars, which are basically the five major flight base operators - Jet Airways, Meridian Air, Signature Air Services, Signature Southern and Atlantic Aviation - managed private terminal.The world's first original G650ER purchased by JPMorgan Chase is stored in Hangar No. 30000, which covers an area of ​​more than [-] square feet and is leased by Atlantic Airlines.

Following Chris Curtin into the interior of the hangar that has been kept open all year round, Han Yi looked up at the snow-white N652CH in front of him, with only the blue streamlined spray-painted N[-]CH in the middle of the fuselage, and couldn't help but hold his breath.

The world's first G650ER.

In 2016, there is no single top private jet model on the planet.

It represents respect, power, and unparalleled luxury.

A flying palace in the sky.

"Traveling for senior executives within the group? Or entertaining guests?"

"Both are available." Chris Curtin stepped on the first step of the gangway with one foot and exhaled, "Members of the Operations Committee, Board of Directors, and Standing Council can apply for use, which means there are about the same... Hey, Ryan, how many people are here?"

"28 people."

A slightly rich young face appeared from the right side of the cabin door.Even wearing a suit worth thousands of dollars, he still couldn't suppress Ryan's simple and honest temperament like a southern country boy.In fact, rather than standing in the G35ER, Han Yi thinks he should put on a wifebeater and shout Roll Tide Roll in an unknown town bar in Alabama.

"However, most members of the board of directors have their own private jets. The chairman and vice-chairmen of the operating committee and the standing council will not use this big guy easily unless they have important official business across the ocean."

Ryan trotted down the gangway, revealing his two big front teeth like Bugs Bunny, and gave Han Yi an earnest smile.

"Ryan Fitzpatrick, Head of Corporate Aircraft Finance, JP Morgan Private Bank, nice to meet you, Mr. Han."

"Hello, Ryan...Business jet financing manager, right?" This rarely heard job title aroused Han Yi's interest.

"Yes, J.P. Morgan Private Bank, offers our clients a lot of these...we call them 'specialty loans.' Art financing, private jet financing, superyacht financing, even life insurance premium financing, team acquisition financing and stadium financing We are involved in acquisition financing.”

Ryan Fitzpatrick, who introduced the department in detail, knew exactly what kind of client he was standing in front of.Two hours earlier, he had gotten a call from Chris Curtin, Jet Linx's vice president of east coast sales, telling him to come to Tetboro as soon as possible.Half an hour ago, the sister company Chase Bank was on the west coast, and Jesús Fratz, the vice president in charge of private client relations, called him again and told his colleagues at JPMorgan Chase to catch this VIP. heart and wallet.

And 5 minutes ago, even Sanok Viswanathan — chief strategy and development officer at JPMorgan Chase & CEO of International Consumer Banking, his immediate boss’s boss — sent an iMessage, Let him do his best to provide the most thoughtful service.

Being able to make Sanok pay so much attention shows that the purchasing power of this wealthy Chinese man should far exceed the range of the G650ER behind him.

At least... he has saved tens of figures in his own name at major Wall Street investment banks and asset management companies, and is famous in the Upper East Side circle above the president level, so that the private banking department of JPMorgan Chase can be so jealous.

Opening Google, the first few news items found further confirmed Ryan's guess.

A rich man who can afford a UTA would probably buy a Gulfstream with the same momentum as ordering Maine lobster at the Hunt & Fish Club on his payday.

What is billing according to the market price of the day?
I still care about this little money?

"Any buyer who wants to purchase assets from JPMorgan Chase must also submit an application through our financing department and assist in the process. Therefore, this private jet is nominally owned by JPMorgan Chase headquarters, but the specific work is all given to private individuals. The bank is in charge."

"Understood." Han Yi nodded, and then threw out the question that had been brewing in his mind on the way to Hangar No. [-] by car, "But why put it up for sale? I mean, it is the official business of the group after all. machine, and it hasn’t been long since it was put into use.”

"Because at JPMorgan Chase, every physical asset we purchase is sellable and realizable." Ryan was prepared for this problem. "JPMorgan Chase's fleet currently has a total of 14 aircraft, of which 4 A G550, two G2s, two G650ERs. The reason why we acquire so many Gulfstream aircraft is not only for daily use, but also a store of value. Because, you know, they are the best private aircraft in the world. Aircraft are always increasing in value. In addition to the Gulfstream, we have also booked several Global Aircraft 2, 650 and 7000 in the next few years. They all have the same business model. Once they are obtained, they are listed, and if someone buys them, it will create additional income for the company. , if no one buys it, keep it in the hangar for careful maintenance and use occasionally.”

While touting the value of Gulfstream aircraft, Ryan Fitzpatrick did not forget to highlight the advantages of the JPMorgan Chase fleet.There are many models available, and the average use time of each aircraft is short, and because the later resale is also considered, the maintenance is also relatively in place.

"This plane was...delivered to us in May 2014. After that, the headquarters spent several months doing internal renovations. Therefore, it was already 5 when it officially arrived in Teterboro. It was around Christmas, and the real usage time was very short. I remember... cross-ocean flights, like three or four times, had to check the management log, but basically the mileage."

Having said that, Ryan turned sideways to give Han Yi ample space to pass.

"Also, so far, only six groups of customers have expressed interest in purchasing this aircraft, and you are the first to actually visit the hangar in Teterboro. Mr. Han, please board the gangway and experience for yourself The elegant interior made by JPMorgan Chase. I will explain some specific parameters and details to you during the visit.”

"After you."

Surrounded by Chris Curtin and Corey McIntosh, Han Yi followed Ryan Fitzpatrick and boarded the luxury aircraft that cost $6450 million and required a full three-year wait. .

"The interior space of the Gulfstream G650 is enough to accommodate up to 19 passengers. However, to ensure comfort, the most typical configuration generally contains 16 seats. The G650ER customized by J.P. Morgan further reduces the number of seats to 120 There are ten seats in the front cabin and one in the rear cabin, and there is a sofa in the front and rear cabins that can seat three people at the same time. Among the eleven seats, seven can be used as single beds, and the other two can be used as [-] degree of incline, and don’t forget, the two sofas can also lie completely flat. There are safety belts on each seat, and each sofa is equipped with three sets of safety belts. This design ensures it to the greatest extent. Flexibility in capacity.”

"If it's a short-haul flight that doesn't require an overnight stay, there's no problem in carrying 19 passengers. And if it's a long-distance flight like Los Angeles to Melbourne, even if there are 16 people in the same space, it won't feel crowded."

"The front and rear cabins are composed of four functional areas. The four front seats are work areas, equipped with desks with built-in charging interfaces. In addition, our aircraft has also been upgraded with Inmarsat's new generation Jet ConneX in-flight Wi-Fi Fi is the fastest and most global wireless network approved by the FAA and can be used on the Gulfstream G650. It can enjoy a speed of 100Mbps on 15% of mainstream routes. This network speed can be used even on the plane. You won’t feel any obvious lag when playing online games.”

"The second part is the entertainment area consisting of a sofa and a TV table. We don't have a TV here now, but if you take over this aircraft, you can put a 42-inch 4K TV here, as well as a PS4 or other Something for your in-flight entertainment. Again, the internet speed on this aircraft is 15Mbps, and Netflix, Hulu, and HBO Go can all be played smoothly."

"The third section, the dining area, has six seats, four of which, as you can see, will have a permanent table in front of them. Then, the two seats across the aisle... You see the gap here Is it? Once it is opened, it will be another table when it is pulled out, and then the part that is stacked underneath is attached to the... side to form a table that is long enough to hold a whole Thanksgiving turkey dinner table."

While explaining, Ryan Fitzpatrick demonstrated the combined function of the hidden dining table for Han Yi. "Finally, come to the rear cabin, here is the rest area for your personal use. There is a seat, a couch, and this sofa is retractable and can be pulled out at any time to be used as an extra-large double bed .Although the length of the G650 is less than half that of the A380, look..."

Across the rest area, Ryan opened a closed wooden door at the rear of the cabin.

"Here, there is a bathroom dedicated to you. The factory-set G650 will not be used for a full standing shower, but for the N652CH, we have specially upgraded this module. Not only does it have a bathroom, but it can also carry one hour of shower water , This time is enough for all passengers on the plane to enjoy a complete cleaning experience."

Not only that, there is only one lavatory on the regular G650, but our plane has two.One is here, one is at the place we just entered, and that one will be smaller, with only a toilet and a small sink available for use.But if you'll be hosting guests on this plane, a separate guest lavatory is essential.That way, no one will disturb your sleep by going in and out of the toilet in the lounge area late at night on your flight to Rome.You only need to close the door connecting the front and rear compartments, and you can have an entire rest space independently. "

"The Gulfstream G650 has another huge advantage that I have to mention. During the flight, the noise in the cabin is only 47 decibels. What is the concept? At night in the suburbs of New Jersey, the noise is about 40 decibels. That is to say, even at an altitude of 4100 feet, you You won’t be able to fall asleep because of the roar of the engine and the sound of the external airflow. Ah, yes, you won’t feel like you’re at an altitude of 13600 feet, and the air pressure in the cabin is maintained at an altitude of 650 feet. The highest altitude in the world My city, Al Alto, Bolivia, is 3.3 feet above sea level, [-] times higher than the G[-]. Well... you live in Los Angeles, right?"

"Yes." Han Yi nodded.

"For Los Angeles... Let me see." Ryan called up the data on the phone, "Los Angeles, the highest altitude is about 5000 feet. That is to say, the air pressure you feel on this plane will even be higher than your It’s closer to normal in Bel-Air or in the Hollywood Hills.”

"This is... data that I have never heard of before. It is very interesting." Han Yi is not very interested in the flight performance of the G650ER itself. Only basic commuting from point A to point B remains.But the detailed data about cabin air pressure and decibel numbers that Ryan said made him feel very novel.

Could a high-altitude trip from New York to Hong Kong really be as comfortable and natural as sleeping in the bedroom at 864 Stella Della Road?
This is the first project that Han Yi can’t wait to experience.

"This plane is an interesting thing from beginning to end, Mr. Han." Seeing Han Yi naturally sitting on the leather sofa in the entertainment area, Ryan smiled, walked across to him, half leaned on the TV table, and continued Enthusiastic introduction, "The most important thing is that no matter how comfortable it is, this aircraft has not yet used its full interior design potential. As you know, business jets cannot be too fancy. But if you After buying it, you can make it according to your own wishes. For example, remove all the seats and arrange them into two sets of L-shaped sofas. The rest area can be opened directly to make a large Chinese-style dining table. Or give the rear cabin a little more space. Make a full-scale master bedroom, and the front cabin becomes a small living room. After all, why accommodate 16 people if you’re only using it by yourself? Four, five people, it’s enough.”

"There are also some rich people who will directly open up the entire cabin of the aircraft to make a very futuristic air apartment. The function may not be strong, but it will definitely attract attention. I wonder if you have seen Massari's design work Interior design for Boeing 787-800, I swear to God, the most luxurious Upper East Side apartment is like that. On that plane, there is actually... a porch."

"The entrance is a bit exaggerated, but..." Han Yi pointed to the dining area on the right, "You really don't need too many seats. You can remove some of them to make the whole space more life-like."

There are only a few people in the core social circle who are qualified to board his G650ER. One hand may not be enough, but two hands are definitely more than enough.Cutting off half of the seats, leaving seven or eight seats, is unlikely to be full.

In the future, if the business is really busy and requires more than ten people to travel at the same time, the worst case scenario is to just buy a dedicated one for the company.

"After replacing the tail code, it's up to you how you want to modify the internal design." Since the customer is already considering the issue of re-decoration later, this business should be considered a bit of a surprise.Thinking of this, Ryan, who guest-starred as a private jet broker, smiled even more innocently.

"Okay. Then..."

Han Yi turned to look at Chris Curtin.

"What shall we do next?"

Han Yi is very good at business ethics. Since he has promised to hand over the management of the purchased private jet to Jet Linx, he will not bypass this company and make a secret quotation.The first is because Chris Curtin left a good impression on him. He is eloquent and may be able to recruit Han Capital, Han Music or other sectors to be his right-hand man in the future.Secondly, Jet Linx’s brokerage commission is obtained from JPMorgan Chase. Even if it changes to another management company, the point value will be the same. The few tenths of a percent saved will not hurt Han Yi.

Moreover, people have followed directly into the hangar, isn't the meaning obvious?

"If you have an intention to purchase this aircraft, Mr. Han, we have to submit an application of intent first, and the Jet Linx team will help you fill it out." Chris Curtin cheered up, stood up, Answer Han Yi logically, "Your legal counsel then needs to be involved to review the transaction structure and assess tax issues."

"If JPMorgan Chase accepts your offer, then you need to deposit a deposit in a third-party escrow account first. The specific amount of deposit to be paid and the circumstances under which the deposit can be released will be decided by the legal teams of the two parties through consultation. Next, there are three more things that your legal advisor needs to do. The first is to negotiate with financing institutions... Well, this one can be omitted for you. Then there is only the second task left, to conduct due diligence on property rights, Find out if any liens exist. Finally, draw up the purchase agreement, clarify who pays what, and formally sign the contract.”

"Next, before full payment is made, Jet Linx will send a pilot based in Teterboro to conduct a full range of pre-delivery inspections. We will review logs, check return production records, and conduct a total of four hours. Test flight. After the test flight, there are still two rounds of comprehensive inspections to be done."

"After review, registration, code transfer and change, airworthiness certificate transfer, final document review, and confirm that the lien and cancellation rights are all secure, you will finally transfer the money to the account of JPMorgan Chase through the third-party escrow account. As for follow-up matters, such as applying for a certificate of cancellation, registering at the International Registry Office in Cape Town, re-registering with the FAA and getting the flight telegraph, it is not something we need to worry about in this transaction... Don't worry, Mr. Han, Jet Linx is here , everything will run smoothly and in an orderly manner.”

"Including this link?" Han Yi glanced at Chris Curtin, and then turned his gaze back to Ryan Fitzpatrick, "This is a link where you will die to get an extra hundred dollars from the other party's pocket."

"Get ready to fight." Hearing the irony in Han Yi's words, Chris Curtin followed the script of his future employer.He opened his arms and said to the old JPMorgan Chase friend who had known him for many years and had a drink in Battery Park every week or two, "Come on, Ryan, stay here, or go out and fight?"

"Go out and fight, I'll run faster." Ryan joked, shrugged, and said, "No, to be honest, the task given to me by the company this time is actually not 'earn more if I can earn more' ’, but rather, ‘Let our most valued VVIP customers enjoy the best service at JPMorgan Chase, and maybe they will consider depositing more assets with us in the future’.”

What Ryan said is true, this is indeed the task given to him by Sanok Viswanathan.The gross profit of about 5-10% from the sale of private jets is not much, and it is almost negligible for JP Morgan Chase, which has a total asset management value of 3.7 trillion.If it weren't for the company's internal requirement to maintain a certain turnover rate for such physical assets that cannot generate stable income, JPMorgan Chase would not need to sell their aircraft at all, and the fleet size would definitely be more than 14.

Therefore, under the premise of guaranteeing the minimum profit margin, Ryan Fitzpatrick is authorized to make appropriate profit concessions, and try his best to win over this wealthy Chinese man whose personal financial strength is unfathomable from all indications, to join JPMorgan Chase. wealth management plan.

"N652CH, the purchase price is 6200 million U.S. dollars, and the total cost after installing the upgrade package is 6450 million U.S. dollars, plus the maintenance and repair costs for the past two years...Mr. Han, I think, as long as you are willing to fill in the application form With a price of US$7200 million, the world's first G650ER will most likely be in your pocket."

"I'm a troublesome person, Ryan. It's troublesome to bargain, and it's troublesome to calculate the deposit. Based on the purchase price, it's even more troublesome to calculate the listing price for resale in the future."

Han Yi quickly ran through the available balance in the cash account in his mind.

"For me, the fewer numbers outside of zero, the better."

"7000 million U.S. dollars. If JPMorgan Chase thinks this number is acceptable, Chris can represent me today and sign and send the letter of intent to your fax machine."

"I believe...you should also like this kind, it is convenient to calculate...numbers of various ratios?"

(End of this chapter)