Zaheer Faruqi: Soaring to New Heights, Steering Aventure Aviation’s Journey to Global Success

Zaheer Faruqi: Soaring to New Heights, Steering Aventure Aviation’s Journey to Global Success

Zaheer Faruqi

Zaheer Faruqi | Aventure Aviation

Did you know that the first-ever scheduled passenger flight took place in 1914?

This marks the beginning of the commercial aviation industry. The aviation industry is one of the largest industries in the world, supporting millions of jobs. It plays a crucial role in global trade and tourism.

In the dynamic world of aviation, where precision and reliability are paramount, Aventure Aviation has established itself as a trusted partner for Airlines, MRO & other Customers in Aviation Industry. Founded in 2001, Aventure has weathered storms and emerged as a thriving enterprise, providing innovative solutions to the aviation industry.

Zaheer Faruqi, CEO and Co- Founder, driving force behind Aventure Aviation, brings a wealth of experience and expertise to the table. With a career spanning decades in the aviation industry, Zaheer has witnessed firsthand the challenges and opportunities that the sector presents. His passion for aviation and his commitment to excellence have been instrumental in Aventure’s success.

Saurabh Tripathi, Regional Director for Asia, has been instrumental in spearheading the company’s growth in Asia. His Aviation Network, Strategic Business Development Skills and deep industry expertise has played a pivotal role in expanding Aventure’s market presence in APAC and driving operational excellence. Under his supervision, the Asia Region has achieved remarkable success, which makes him a successful & influential in this region.

Aventure Aviation provides a comprehensive range of services, including aircraft parts supply, consignment management, Surplus Inventory Management and aircraft end of life solutions. Their commitment to quality, reliability, and customer satisfaction has earned them a reputation as a trusted partner for airlines, MRO facilities, and leasing companies worldwide.

In this exclusive interview, we have featured Zaheer Faruqi – CEO & Co-Founder and Saurabh Tripathi – Regional Director for Asia in our “Aviation & Aerospace Directors to Follow in the 2024” edition. They share their insights on the future of the aviation industry, the challenges and opportunities facing businesses in the sector, and Aventure Aviation’s role in shaping its trajectory and the future it envisions for the aviation industry.

Discover the story behind Aventure Aviation, a leading provider of aviation parts and services. We delved into the company’s journey, its unique offerings, and the vision that drives its success. Stay tuned for an insightful conversation with the experts at Aventure Aviation.

Prime Insights: Can you share the story behind your company’s inception?

Zaheer: Aventure Aviation was started on September 1, 2001. The name “Aventure” was coined from the two words “Aviation and Venture.” The company was formed to provide solutions to airlines, maintenance, repair, and overhaul (MRO) facilities, and leasing companies with the supply of quality aircraft parts when needed, with full traceability and documentation.

Prime Insights: What inspired you to start your company?

Zaheer: My engineering experience working for 3 years with a major aircraft parts manufacturer in California, with airlines in Saudi Arabia and Bahrain for 10 years, and an MRO facility in the UAE for another 10 years showed me that the greatest expense in the operations of an aircraft is the timely availability of spare parts. An aircraft grounded (for lack of spares) can affect the completion of maintenance activity on time or if it occurs before a flight departure, resulting in flight cancellation that can jeopardize the airline’s operations and consequences in accommodating passengers that can be very costly and result in bad publicity.

In addition to the availability of parts, I realized that airlines and MRO facilities have huge surplus and idle inventory in their warehouses, which could be turned into revenues. Aventure provides answers for that idle inventory with options such as outright sale (i.e., immediate revenues) or higher sale value via the consignment option. We work with the owners of such assets to find the right solution.

For leasing companies and owners of aircraft, we provide solutions for retired aircraft by purchasing the aircraft at the time of retirement or acquiring the aircraft that have been grounded. If an aircraft has been grounded for an extensive period or robbed of key component parts, it is best that the airframe is harvested of parts by local technicians.

Prime Insights: What were the initial challenges faced by your business?

Zaheer: When we launched Aventure on September 1st, 2001, we were immediately faced with the challenges posed by the 9/11 terrorist attacks in the United States just ten days later. The U.S. airline industry was grounded for several days, and the restart of flights was subject to cautious government decisions. This sudden halt in operations had a significant impact on the demand for aircraft parts, forcing companies to quickly revise their business plans. Those that had borrowed heavily to acquire inventory were particularly vulnerable, as the drop in sales made it difficult to survive.

This crisis presented an opportunity for Aventure. We were able to adapt quickly and invest in areas where larger companies were struggling. Additionally, we became more aggressive in pursuing international business from global airlines, which proved to be a successful strategy. We now have customers in over 55 countries and generate over 65% of our annual revenues from international sales.

Prime Insights: To begin, how is your brand-defining “trust” in the market? What stands behind its uniqueness?

Zaheer: “Aventure has built a strong reputation as a trusted supplier of aviation parts to international airlines. We’ve achieved this by consistently delivering on our promises for the past 24 years, providing quality parts with full certifications and on-time delivery at competitive prices.

We’re proud to share our testimonials as a trusted supplier and highlight our industry awards, such as the EXIM Bank’s “Exporter of the Year” and our six-time ranking on the INC500|5000 “List of Most Successful Private Companies in the USA.” Additionally, we’ve been honored with the prestigious E-Award for Excellence in Exporting, the highest recognition given to a U.S.-based company by the President of the United States.

These recognitions are a testament to the hard work and dedication of our team. We understand that our customers have choices and that we must consistently exceed their expectations to earn their business.”

ZAHEER FARUQIPrime Insights: What are services/solutions, and how do you see ASIA as a potential market? Who is the face of your company in the ASIA market?

Zaheer: We provide complete Aircrafts Part Solutions across all the Platforms of Aircrafts like Boeing, Airbus, ERJs, CRJs, as per our customers need. Asia region has great potential as there are so many Aircrafts on orders, there is a huge spike in Number of People flying on monthly basis, which attracts everyone’s attention including Aircrafts Manufacturers, OEMs, MRO and Off course Parts Suppliers too.

Our current Representative in APAC is Mr. Saurabh Tripathi, who is based in India and is a highly qualified & well experienced into Aviation Industry, designated at Regional Director for Asia for our company. Saurabh is available to discuss with customers, their needs or their challenges with Parts Requirements, Surplus or idle assets, and with our international team located across the globe, he can provide solutions that will create win-win solutions.

Prime Insights: What advice would you give to aspiring leaders in the aviation and aerospace industries?

Zaheer: Aviation and aerospace industries are niche businesses and an industry where a mistake is never forgiven. It emphasizes strict quality standards throughout the business processes and traceability in aviation assets as to where they were acquired. To meet all these factors of safety and quality assurance to give comfort to a buyer, it is necessary that a company, especially in the supply of parts, be ‘ACCREDITED’ by organizations such as the Aviation Suppliers Association (ASA). Many parts suppliers claim to be ‘MEMBERS’ of ASA, and that is not the same as accreditation, which requires the company to be independently audited to meet FAA Advisory Circular AC00-56 standards on an annual basis. This accreditation, along with ISO quality standards, is necessary to be in business to ensure the safety of our industry. Buyers need to do their homework on qualifying parts suppliers and the full documentation accompanying the parts before issuing purchase orders.

To be successful in this industry, reputation and trust have to be earned, and this is a major challenge for any new entrant to prove their capability with each and every transaction.

Prime Insights: What inspired you to enter the aviation/aerospace sector? Could you share a brief overview of your career journey?

Saurabh: From a young age, I was fascinated by the sight of airplanes. Living near an airport, I would watch airplanes take off and land on my way to and from school, which sparked my passion for aviation. This interest in aviation inspired me to pursue a bachelor’s degree in aeronautical engineering and start my journey in the aviation and aerospace industry.

After completing my Bachelor’s Degree in Aeronautical Engineering, I began my career with an aircraft maintenance company. I quickly transitioned into a sales and business development role due to my strengths in customer relations. This led me to a role in aftermarket sales and business development in commercial aviation and aerospace, where I further honed my skills in USM sales and business development. I’ve continued to build my career in this field, focusing on commercial aviation and aerospace.

Prime Insights: How Aventure Aviation Impacts the Aviation Industry? What is your current role?

Saurabh: Aventure Aviation has been a key supporter of the industry by performing teardowns for aircraft types from Boeing, Airbus, Embraer, and Bombardier, helping to meet parts requirements for these platforms. This has allowed our customers to overcome parts shortages at significantly lower costs compared to OEMs. As the face of Aventure Aviation in the APAC region, I lead our business operations and ensure we continue delivering value to our clients.

Prime Insights: In your opinion, what qualities make a successful director in the aviation field?

Saurabh: A successful director in the aviation industry must have a deep understanding of the ever-changing market dynamics, maintain a customer-centric approach and strong network across the Industry. Flexibility in adapting to customer needs is also essential for building long-term relationships and driving success in this highly competitive field.

Prime Insights: What kind of challenge did you face in your role, and how did you overcome it?

Saurabh: Challenges are a regular part of my role, but they present opportunities to build stronger relationships. We earn the trust and strengthen our reputation for reliability by understanding customers’ needs and offering honest, transparent solutions. Shortage of Parts in market, Higher prices Parts & Raw Materials and logistics due to geo-political issues are the biggest challenge for Customers as well as for us at present.

Prime Insights: What role do you believe mentorship plays in developing future leaders in the aviation and aerospace sectors?

Saurabh: Mentorship plays a critical role in shaping a successful career, especially in a complex field like aviation. While education is important, nothing can replace the value of experience and expertise. A good mentor, with years of industry knowledge, can guide you through challenges and accelerate your growth. I owe much of my success to the guidance and mentorship I’ve received throughout my career. I’ve been fortunate to have mentors and leaders who have helped me reach where I am today.

Currently, I am heading this region under mentorship of Mr. Zaheer, who has vast Aviation experience and shares his experiences to guide me whenever and wherever required, which helps me to come out of day-to-day challenges in my work.

Prime Insights: How do you foresee the future of the aviation and aerospace industry in the coming years in APAC?

Saurabh: The aviation and aerospace industry in the APAC region is experiencing unprecedented growth, with thousands of aircraft on order and numerous new airlines emerging. This rapid expansion is driving remarkable growth in both commercial aviation and aerospace manufacturing. APAC is becoming a key hub for aircraft manufacturing, subassembly sourcing, and MRO (maintenance, repair, and overhaul) operations. Countries like India, Singapore, Malaysia, and Thailand are establishing themselves as vital centers for manufacturing and MRO, contributing to the region’s impressive growth trajectory.

Prime Insights: Is there anything else you would like to share about your journey or vision for the future of aviation and aerospace?

Saurabh: The aviation and aerospace sector is undergoing significant transformation, driven by emerging technologies such as blockchain, artificial intelligence, and alternative power sources. These advancements promise rapid growth shortly. It’s essential to stay updated and continuously learn about new technologies, as hard work remains the foundation of success.

As an Indian, I see our country rising as a prominent hub for aviation and aerospace, not just in the APAC region but on a global scale. A recent announcement from Airbus about outsourcing over $2 billion for aircraft production in India underscores this potential. I believe that, in the coming years, India will establish itself as a key player in commercial aircraft manufacturing not only in Asia but globally, and this vision is closer to realization than ever before.