Engine Lease Finance (ELFC) has become the first CFM International (CFMI) spare-engine lessor to use the manufacturer’s portable maintenance for lessors (PML) program under a memorandum of understanding that could be formally ratified by year’s end.
Financing, Insurance and Taxes » Aviation Financing
Issues regarding financing of aircraft.
A legal case that could hold serious ramifications for the aircraft financing and leasing industry met its end with a blow against the lenders when the U.S. Supreme Court refused to hear an appeal.
With aircraft owners facing continuing headaches over importing aircraft into the European Union, offshore registrations are increasingly being considered as a more flexible option. At the same time, lawyers have been scrambling to develop elegant solutions to avoid at least immediate liability for punitive rates of value added tax through deferral schemes.
A new 3,600-sq-ft customs-clearance facility has been constructed at Hector International Airport in Fargo, North Dakota, on the north general aviation ramp between two of Fargo Jet Center’s main hangars. It is equipped with the latest technology to expedite U.S. Customs clearances and improve the experience for international passengers. Fargo Jet Center is exhibiting here at EBACE (Stand 456).
Attendees at the National Aircraft Financing Association annual meeting late last week in Savannah, Ga., largely agreed that aircraft financing is “thawing,” but new international banking rules that will start to be phased in next year might make things worse.
Encouraged by last year’s successful effort to secure three European lessors for 10 Air Nostrum CRJ1000s, Bombardier expects the trend toward more lease acquisitions of regional airliners to continue. For the Canadian airframer, attracting lessors will prove vital to the success of the new C Series as well, and perhaps most notably in China, where aircraft leasing remains a relatively new option.
Embraer and Beijing-based ICBC Financial Leasing signed a memorandum of understanding (MoU) today on aircraft financing and leasing for the sale of Embraer airliners and business jets in China and other markets. Under the MoU, total program support could amount to as much as $2.5 billion over the next five years.
It came as no surprise to industry watchers that Minsheng Financial Leasing Co. Ltd. (MSFL) won the recent Corporate Jet Investor (CJI) award for Asian Business Jet Financier of the Year. MSFL has so far signed agreements for, and placed nonrefundable deposits on, more than 100 private aircraft acquisitions in China. The firm’s total registered capital is RMB five billion ($790 million).
Aircraft trader Jetcraft Corporation last month opened a new office in Hong Kong, creating a new division called Jetcraft Asia to better support clients in this part of the world.
Gulfstream Aerospace is set to expand its preowned aircraft sales division to include aircraft brokerage services. The company will draw on its worldwide customer and sales prospect database to facilitate its new offering, and says it will keep tabs on the global used aircraft market to ensure listings it sources are “competitively priced.”