I have completed three degrees at Cambridge. The first one was in Computer Science, which I pursued because my parents insisted that the future lies in IT. Although I finished it, I realized it wasn't my cup of tea. I then developed a strong interest in commercial law and completed a law degree along with a legal practice course, allowing me to practice law in the UK. In 2007, during the credit crunch, I was searching for a job as a lawyer but unexpectedly found myself in a completely different field. I joined the well-known public company World Fuel Services, starting from the bottom as accounts support and eventually climbing up in sales. I discovered my passion for the industry and believed I could outperform others and create something unique on my own, rather than working a 9-to-5 job for a fixed salary.
I decided to start my own business, but initially, every door I knocked on felt like a wall, with everyone telling me I wouldn't succeed and should go back to working for someone else. However, I persisted and eventually found some financial support, starting with one or two clients. In those early days, I was a one-person operation, handling accounts, operations, sales, and credit control by myself. I envisioned building a mega company with dedicated departments that could provide exceptional customer service and bespoke trip support to the aviation industry.
I worked tirelessly for many years, learning something new every day. Of course, I made many mistakes, but each one was a learning opportunity. Even now, I continue to learn, which keeps things interesting. After 15 years of hard work and dedication, with partners coming and going, I have managed to create a gem of a company with 30 employees. iFuel has earned the best reputation among its suppliers and clients, offering exceptional, bespoke services that many operators now prefer. Despite the initial skepticism, I have proven that I could do it.
iFuel was founded in December 2012 with a few partners as a small boutique company focusing on fuel services and a limited clientele. In 2020, I bought out the partners' shares as they chose to pursue their own ventures, leaving iFuel relatively inactive. I then partnered with two others, converting the company from a GmbH to a public limited company. Realizing that no one could contribute as effectively as I could, I decided to concentrate solely on growing the business. Thanks to my team, iFuel now stands strong, serving a diverse range of clients from commercial and business sectors to cargo and military operators. We prepay all our suppliers and offer excellent credit facilities to our clients. With several departments and top industry employees, we continue to grow monthly, maintaining high satisfaction among our clients and suppliers.
It's an amusing story. I was in the shower, brainstorming names that would reflect our focus on fuel. Suddenly, it struck me – combining "I" and "fuel" to create "iFuel." I proposed the name to my partners, and everyone agreed it was a great choice. And thus, iFuel was born.
The only thing I would change is the approach to taking on partners or executive sales hires. Other than that, the challenges and obstacles we've faced have shaped iFuel into the successful company it is today.
Our typical customers range from commercial and business aviation operators to cargo and military operators. We serve a diverse clientele that values reliability, exceptional service, and flexible credit terms. These customers rely on iFuel for comprehensive fuel solutions and bespoke trip support services, tailored to meet their unique operational needs.
Our customers seek exceptional service in fuel provision, handling, and trip support, along with favorable credit terms.
The situation with Sustainable Aviation Fuel (SAF) at iFuel AG is very promising and aligns with our main strategic direction. For example, we are excited to announce the finalization of our first major agreement for the purchase of SAF in the Middle East. This milestone will significantly enhance the availability of SAF for air carriers in the region, providing them with new opportunities to reduce carbon dioxide emissions and improve the environmental sustainability of air transportation. We have already initiated active cooperation with key market players in the Middle East, and our goal is to promote the development of the SAF market, generate sustainable demand from air carriers, and help lower the cost of SAF for our partners. This approach not only promotes market growth but also enhances the accessibility and affordability of SAF, aligning with iFuel AG's commitment to advancing sustainability in the aviation sector. I emphasize our dedication to environmental stewardship by increasing the availability of SAF and expanding our global network of direct suppliers, all while offering flexible and competitive terms for our customers. Each year, we strive to boost the volume of SAF available to our global clientele, ensuring that SAF is accessible and competitive for all market participants. In summary, we are making significant strides in the SAF market, securing new agreements, and working towards a more sustainable future for air travel.
Customers choose iCharter for several reasons:
Convenience and Flexibility: They can set their own schedules and access a broader range of airports, reducing travel time.
Time Efficiency: Private flights eliminate long wait times and provide direct routes, saving valuable time.
Privacy and Comfort: Passengers enjoy a private, exclusive environment tailored to their preferences.
Safety and Security: Private aviation offers controlled environments with strict safety protocols.
Status and Prestige: It serves as a luxury experience and status symbol.
Specialized Needs: It meets unique travel requirements, such as accessing remote locations or urgent travel.
Cost-Benefit Considerations: The value of time savings and convenience often outweighs the higher cost, especially for groups.
Health Concerns: Reduced exposure to others enhances health safety.
In my situation, Blacklist Aero is backed by a reputable company that I will not name in this interview. This company is attempting to tarnish my reputation through illegal means. The issue began with JAF Europe, a company that specialized in refueling services. Unfortunately, JAF Europe became insolvent due to unpaid invoices from some clients, leading to bankruptcy in July 2020. This is a commercial issue, and the illegal tactics employed by this supplier are unacceptable in any industry. I've worked tirelessly to establish a new business, fostering good relationships with suppliers and clients based on trust, professionalism, and hard work. Unfortunately, the supplier, who suffered losses in 2020, is now trying to damage iFuel and my reputation. They hired Blacklist, which has been contacting my family, former and current employees, and clients. They have crossed a line by using non-commercial methods and pressure tactics, including spreading false articles about me and the company. They even proposed removing these articles if I complied, revealing their true intentions and motives. Anyone interested can simply Google Blacklist Aero or Artem Degtiarov for more information about the methods used by this contracted company.
Today, iFuel is a successful, debt-free business with satisfied suppliers and clients. We continue to focus on growth and maintaining positive relationships. Our clients frequently express their satisfaction with our services. In my experience, there have been instances where clients did not pay, but I never resorted to intimidation or pressure tactics. Despite the challenges, I am proud of what iFuel has become today and am grateful for the support of those who stand by me.
The COVID-19 pandemic has significantly impacted the travel and aviation industries. Key effects include:
Reduced Passenger Traffic: There was a massive drop in passenger numbers, leading to severe financial losses for airlines.
Increased Debt: Airlines took on substantial debt to stay afloat, likely leading to higher ticket prices.
Operational Changes: Airlines have retired older aircraft and restructured operations, shifting towards more efficient and flexible models.
Growth in Air Cargo: The air cargo sector saw increased demand, especially for medical supplies and e-commerce.
Government Involvement: Increased state aid and regulatory changes are shaping the industry's recovery.
Overall, the industry faces a challenging recovery, with ongoing changes in consumer behavior and operational adjustments.
Geographic Expansion: Entering new markets and increasing distribution networks.
Diversification of Product Offerings: Investing in alternative and renewable fuels like Sustainable Aviation Fuel.
Technology and Innovation: Implementing advanced technologies for supply chain optimization and customer service enhancement.
Sustainability Initiatives: Reducing the company's carbon footprint and achieving sustainability certifications.
Customer Experience Enhancement: Developing loyalty programs and offering customized solutions.
Strategic Partnerships and Acquisitions: Exploring mergers, acquisitions, and joint ventures.
Marketing and Brand Building: Increasing brand visibility and engaging in CSR activities.
Operational Efficiency and Cost Management: Continuously improving processes and implementing lean management practices.
By focusing on these strategies, iFuel AG aims to expand its market presence, adapt to changing market conditions, and ensure long-term growth and sustainability.
Skills and Experience: Relevant expertise and adaptability.
Cultural Fit: Alignment with company values and a positive attitude.
Interpersonal Skills: Strong communication and teamwork abilities.
Problem-Solving: Analytical thinking and creativity.
Passion and Motivation: Enthusiasm for the role and ambition to grow.
Diversity and Inclusion: Valuing diverse perspectives and inclusivity.
Leadership Potential: Initiative and growth potential.
Technical Literacy: Comfort with digital tools and continuous learning.
Innovation, sustainability, and customer centricity. My guiding principle is "fuelling the future," aiming to make SAF accessible and competitive for all.
Embrace adaptability and continuous learning. The world and industries evolve rapidly, and being adaptable allows you to stay relevant and seize new opportunities. Continuous learning, whether through formal education, self-study, or hands-on experience, keeps your skills sharp and opens doors to new possibilities. Staying curious, open-minded, and proactive about personal and professional growth can significantly shape your journey and success.
I would like to extend my gratitude to our clients, partners, and employees who have supported iFuel's journey. Their trust and collaboration have been instrumental in our success. As we continue to grow and innovate, we remain committed to providing exceptional service and advancing sustainability in the aviation industry. Thank you for this opportunity to share our story.
