Unlike real estate lenders, most aircraft lenders don’t require title insurance, so airplane buyers rarely even know about it, let alone purchase it. That can be a big mistake.
Peter Bull, an aviation industry veteran and risk and asset management expert, has joined the advisory board at helicopter leasing firm Milestone Aviation Group. Milestone chairman and CEO Richard Santulli said Bull’s input will strengthen and enhance the company, since asset and risk management are the “backbone of our business and central to what we do.” Bull has held a range of senior positions in aircraft maintenance, leasing, asset management, risk consulting and continuing airworthiness.
Owners of fractional shares in Piaggio Avanti twin turboprops operated by Avantair are trying to take possession of their aircraft in the wake of the August 16 court hearing that put the Clearwater, Fla.-based company into involuntary bankruptcy.
Indian commerce minister Anand Sharma announced the raising of the country’s cap on foreign direct investment (FDI) in 13 important industrial sectors, including defense. But while the defense industry was expecting the cap to be raised to 49 percent from the present 26 percent, Sharma said that defense proposals for more than 26 percent will be permitted only for state-of-the art technology.
The Equipment Leasing & Financing Foundation has released the results of a survey of financing experts, “to reveal and analyze the collective thinking of business aircraft lenders, lessors and investors (financiers) about the future of their industry in 2013 through 2016.” In general, “Financiers think the worst effects of the recession and financial crisis in 2008 are behind them and that business is picking up.” The report concludes, “business aircraft will gain altitude in 2013 through 2016 and ultimately ascend to an active (if not robust) transactions market during th
Vector Financial Services Ireland announced at Heli-Expo ’13 availability of a fleet of customized Super Puma AS332Ls, including new leasing and hourly support options, aimed at utility operators in the European Union, UN and NATO countries.
“Our lease program gives customers the ability to operate a Super Puma AS332L helicopter…without the large capital investment associated with outright purchase of either a second-hand aircraft or the associated typical aircraft financial lease type obligations,” said Vector UK managing director Michael Tyrell.
Aspen Avionics co-founder Peter Lyons has moved to a new job as president of Avionyx, an engineering services provider headquartered in Costa Rica. Avionyx specializes in helping aerospace manufacturers with development of DO178- and DO254-compliant software and electronic hardware. Work that Avionyx engineers accomplish includes safety-critical software development, verification services and turnkey design. Lyons is responsible for company operations and will focus on new business development from his office in Albuquerque, N.M.
According to figures released today by business aviation data company Amstat, the long hoped-for “broad based business aircraft resale market recovery still remains elusive.” While inventories of pre-owned business aircraft continued to contract and transaction activity continues to increase on a year-over-year basis, the rate of improvement slowed in the third quarter, it said.
Judge Patrick Brady of the Massachusetts Superior Court in Norfolk County last month denied the arguments in a lawsuit by Boston Air Charter (BAC) challenging the rulings made by the town of Norwood and its airport commission.
GE Capital Aviation Service signed a memorandum of understanding (MoU) yesterday at the Farnborough Airshow with CFM International to participate in the engine manufacturer’s new product offering for leasing companies, called Portable Maintenance for Lessors (PML). The final agreement should be complete by year-end, the companies said.
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