Global Aerospace has announced its online insurance certificate processing site, www.eCert.global-aero.com. By early 2010, brokers and customers of the Short Hills, N.J.-based company (Booth No. 1845) will be able to issue and print insurance certificates anywhere in the world.
Financing, Insurance and Taxes » Aviation Financing
Issues regarding financing of aircraft.
Capital Aviation (Booth No. 4442) of Bethany, Okla., has gained a supplemental type certificate (STC) for an upgrade of the Challenger 600 series that includes a Universal Avionics Waas-capable flight management system, EFI-890R display upgrade and terrain awareness and warning system (TAWS). The initial upgrade
Bank of America and Avjet Aviation Services yesterday announced a strategic alliance whereby business jet buyers will receive preferred terms if they finance their airplane through Bank of America and enter into a management agreement with Avjet.
The results of a major bank merger are on display at the NBAA Convention. The aircraft-financing divisions of San Francisco-based Wells Fargo and Charlotte, N.C.-based Wachovia, which was acquired by Wells Fargo on December 31, are showcasing their offerings together in the exhibit hall.
Cessna Finance has introduced new lower-rate financing for Cessna piston singles and Caravan turboprops. The program, which applies only to 2009 purchases, covers the Cessna 172, 182 and 206 high-wing pistons; the Corvalis and Corvalis TT high-performance low-wing pistons; and the 208/208B Caravan/ Grand Caravan turboprops.
In an economy that has ravaged aviation, one stable segment is the insurance industry, but change is coming. “Nobody knows what [the future is] going to look like,” an industry expert told AIN.
“Available business jet inventories look finally to be stabilizing,” UBS Investment Research noted in its latest business jet update, although pre-owned inventory remains at record-high levels, at 18 percent of the in-service fleet.
Credit is tight, but money is available. That’s the message from Jim Pulie, director of business development for Center Capital’s general aviation division.
As the global economy churns, the aviation finance market holds its breath. A recent report from UK-based aviation analysis firm IBA Group predicts that financing will become even more difficult to secure as the year progresses, as lenders chart a cautious course through the turmoil.
The standoff between buyers and sellers over the last six months is beginning to show some wear. It seems that sellers had been concentrating on where prices were six months ago, as buyers were predicting where they would be six months forward. The dichotomy in perspectives aided in slowing transactions to a crawl.