Job Description
Position Summary
Magnifica Air is building a next-generation luxury airline with low-density Airbus aircraft and a service model closer to private aviation. The Controller will establish and lead the aviation finance and cost-accounting function from the ground up – implementing financial controls, tracking fleet and route economics, and ensuring accurate and timely financial reporting as the airline prepares for launch and subsequent scaling. This role will partner closely with flight operations, maintenance, commercial, and corporate finance to drive financial discipline, operational efficiency, and alignment with company-wide policies. The Controller will also play a key role in ERP system implementation and ongoing optimization for the airline business.
Key Responsibilities
Financial Reporting & Analysis
- Prepare monthly, quarterly, and annual financial statements in accordance with GAAP and internal company policies.
- Ensure timely and accurate reporting of P&L, balance sheet, cash flow, and key performance metrics (e.g., CASM, RASM, load factors, fleet utilization).
- Analyze financial and operational performance; provide actionable insights to senior management to optimize profitability, efficiency, and cost structure.
- Oversee preparation and presentation of financial reporting for executive leadership and the Board.
- Ensure financial documentation, disclosures, and audit trails meet corporate governance, regulatory requirements, and internal policy standards.
Aviation Cost Accounting & Fleet Economics
- Oversee accounting for airline operating costs including fuel, crew, maintenance (MRO), aircraft leases, airport/ground operations, catering, and overhead—ensuring consistency with corporate standards.
- Build and maintain processes for tracking fleet economics, maintenance reserves, lease obligations, depreciation schedules, and aircraft utilization.
- Partner with flight operations, maintenance, procurement, and commercial teams to ensure accurate cost allocation across aircraft, routes, bases, and service offerings.
- Develop and maintain detailed cost models for aircraft operating costs, route profitability, and service configurations.
- Support project-based accounting for new fleet introductions, cabin retrofits, new routes, and operational initiatives.
Budgeting & Forecasting
- Lead airline-level budgeting processes, including fleet-level cost planning and route-level forecasting.
- Produce rolling financial forecasts for operating expenses, fuel, maintenance events, cash requirements, and working capital needs.
- Support capital budgeting, lease vs. buy analyses, fleet acquisition/return decisions, and major investment reviews.
- Ensure budgeting and forecasting methodologies are consistent with CIG’s corporate finance framework and policies.
Internal Controls & Compliance
- Implement and maintain strong internal controls across AP, AR, payroll, fuel accounting, maintenance event accounting, fixed assets, leases, and general accounting.
- Ensure compliance with internal policies, GAAP, and applicable airline industry regulations (FAA, DOT, IATA, TSA financial compliance frameworks).
- Oversee audit processes, internal reviews, tax reporting coordination, and corporate governance requirements.
ERP Implementation & Systems
- Lead the finance workstream for implementing an aviation-appropriate ERP/accounting system.
- Define airline-specific accounting and reporting requirements; support data migration; test modules; and train accounting, operations, and commercial teams.
- Drive continuous ERP system improvement and ensure usage aligns with company-wide financial and operational standards.
Team Leadership & Collaboration
- Support the hiring, development, and mentoring of accounting and finance staff; build a scalable, disciplined accounting and finance function.
- Partner closely with flight operations, maintenance, commercial, inflight, airport operations, and corporate finance to ensure aligned reporting, costing, and decision-making.
- Design scalable accounting processes capable of supporting future fleet expansion and new operating bases.
- Contribute financial leadership to strategic initiatives, cost-reduction efforts, and operational excellence programs across the airline.
Aviation Industry & Regulatory Knowledge
- Understand airline economics, fleet cost structures, fuel management, maintenance cycles, airport fees, and revenue/cost allocation methodologies.
- Support accurate tracking and financial modeling of aircraft lease terms, maintenance reserves, landing fees, and regulatory cost obligations.
- Stay informed on industry regulatory requirements and trends (FAA rule changes, DOT economic reporting, ESG requirements, carbon offset programs) that impact airline cost structures and financial reporting.
Qualifications
Education
- Bachelor’s degree in Accounting, Finance, or related field.
- CPA or CMA required.
- MBA preferred.
Experience
- 10+ years of accounting/finance experience, including at least 3 years in an airline or aviation environment.
- Proven experience in financial reporting, cost accounting, budgeting, and operational finance in aviation, aerospace, or related industries.
- Experience within commercial airlines, charter operations, MRO organizations, fleet management, or other aviation operations preferred.
- Experience with financial software and ERP systems (e.g., SAP, Oracle, Microsoft Dynamics).
- Strong knowledge of GAAP, airline cost structures, lease accounting, and aviation compliance frameworks.
Skills & Abilities
- Strong analytical and problem-solving abilities with exceptional attention to detail.
- Ability to present complex financial information clearly to non-financial stakeholders.
- Ability to perform in a dynamic, scaling airline environment with evolving priorities.
- Advanced Excel proficiency and financial modeling skills.
- Demonstrated leadership with a track record of developing and managing accounting teams.
We offer a competitive salary, robust benefits, paid time off and growth opportunities.
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