Bahrain Executive Air Services (Bexair) is seeing strong interest in its new aircraft financing venture, Arabian Aircraft & Equipment Leasing Co. (AAELCO). “Everyone is interested,” finance and administration director Marwan Al-Tassan said here yesterday. “There is demand from buyers but they can’t get the financing from the banks.
Financing, Insurance and Taxes
Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.
International Lease Finance Corporation (ILFC) has become the first named major lessor to order the Boeing 787 under an agreement covering twenty 787-8 and -9 aircraft (and options on a further four) valued at $2.7 billion at list prices. Deliveries are set to start in January 2010 and continue through the following year.
Charter operator Bahrain Executive Air Services Co. (Bexair) is announcing the launch of a new aircraft financing operation here at the show. The firm plans to provide business aircraft handling services at an undisclosed Middle Eastern airport, as well as for new passenger shuttle and cargo operations.
Mission Oaks National Bank in Temecula, Calif., hopes to become the lender of choice for pilots shopping for general aviation airplanes and, in some cases, helicopters in the western U.S. from New Mexico to Washington, as well as Nevada and Arizona, and occasionally other states. The bank will consider loans on aircraft valued up to $3.5 million. Veteran aviation lender Juan Alonzo has been hired to manage the new aircraft loan department.
Tronair, manufacturer of ground support equipment for a range of users including general aviation and corporate aircraft operators, has acquired JETporter, a major player in the aircraft towing industry.
The products of the two companies are complementary, as EBACE visitors will quickly discover by visiting Booth No. 1213.
If you buy, sell or operate aircraft in Europe and have been liable to EU value added tax (VAT), a chat with Lasse Rungholm could help you to save lots of money. You will find Rungholm by a beautifully maintained Beech 18 on the ramp, which OPM Aviation Services (OPMAS) acquired a month ago and flew here from its Aarhus, Denmark headquarters to publicize the company.
The almost three-year-old European Aviation Safety Agency (EASA) wants to keep on a fast growth curve, despite its acknowledged teething problems. The main problem–funding–is being addressed through a major increase in certification fees. Over the next two years, the agency is preparing to extend its responsibilities to cover aircraft operations, flight crew licensing and eventually activities such as airports.
While the debate continues over how best to fund the next-generation air transportation system, the Government Accountability Office (GAO) is of the opinion that “given the diverse nature of the FAA’s activities, a combination of alternative [funding] options may offer the most promise for linking revenues and costs.” In a study released last week, the GAO stated that among the alternatives that the FAA should consider are “user fees.” The GA
Everyone in the industry knows that new and used business aircraft sales, prices and inventories generally follow the overall economy. But do the different classes of aircraft react differently to changes in the economy?
In a report released early last month, the National Air Traffic Controllers Association said policy decisions by the Bush Administration, not inadequate revenues, are causing the declining balance in the Aviation Trust Fund.