Abdol Moabery didn’t just take the risk of starting an aviation company; he took the risk when the industry was in a downturn because of the Sept. 11, 2001, terrorist attacks.
But his ultimate vision was starting his own company within the aviation industry, so, with his wife’s support, he took a chance.
Moabery, president and CEO, was so serious about the venture that he sold many of his belongings to raise start-up capital. He then put together a business plan and searched for financial backers.
Due to the downturn in the airline industry, most dismissed his ideas and told him that there was no money to be made in the industry at that time. Yet, the persistent entrepreneur eventually received a loan he personally guaranteed from his old boss, George Soros. Along with five of his industry friends, Moabery launched GA Telesis Turbine, which is now GA Telesis LLC.
The company began by selling remanufactured airplane parts to airlines and, shortly thereafter, expanded by financing and leasing airplane and jet engines to major airlines.
GA Telesis has been profitable from day one and now serves more than 500 airlines in their specific regions. And it took Moabery just 18 months to pay off the loan from Soros.
That type of success is contingent on Moabery’s leadership style but also on the company’s employees. Since its inception, GA has only had a 2 percent turnover rate.
In 2008, Moabery gave up his bonus so that all the employees would receive at least the same bonus they had received in prior years. In addition, he also supports his employees when they find other career opportunities, understanding that each person has his or her own entrepreneur within them.
How to reach: GA Telesis LLC, (954) 676-3111 or www.gatelesis.com