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.
Bank of America
Long Island-based jet charter and management company ExcelAire has been selected to join Executive Jet Management, Jet Aviation and Jet Direct as a partner by Bank of America’s aircraft financing division. According to the bank, customers seeking aircraft financing will be offered discounted lease terms if they select one of these management providers.
World banking giant Bank of America (Booth No. 700), a long-time player in fixed-wing financing, announced yesterday its entrance into the rotorcraft market. Although the bank has financed helicopters on an individual basis in the past, this marks the company’s first attempt at luring a broad spectrum of new clients.
Bank of America (Booth No. 2390) announced today that it is establishing a cross referral and joint marketing program with Atlantic Aviation Flight Services, a subsidiary of Sentient Jet. According to Bank of America, clients who have signed on with Atlantic Aviation will receive “enhanced economics” in their financing terms from Bank of America.
Bank of America last month formed the Corporate Aircraft Finance Division, a group that combines The Private Bank’s Aviation Finance Division with the Bank of America Leasing Corporate Aircraft Finance strategic business unit. With creation of the new division, Bank of America has more than 700 clients and $4 billion in aircraft loans and leases.