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.
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.
Since business aviation operators are increasingly turning to independent contractors to contain costs and do more while conserving resources, NBAA has published a guide aimed at helping flight operators to properly classify these workers as either employees or independent contractors. “If a worker is classified incorrectly, there are significant tax, liability and legal risks for the employer,” NBAA said.
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.
The world’s aircraft leasing industry appears to have weathered the proverbial storm of the global recession and now looks well positioned to exploit aircraft placement opportunities in markets such as China, in particular. However, such opportunities won’t come without their challenges, according to some of the leasing company bosses who appeared at this spring’s International Society of Transport Aircraft Traders (ISTAT) conference.
Avantair now offers leasing of fractional shares of Piaggio Avanti turboprops. The new Axis lease program allows buyers to lease a share of a fractional Avanti; this is a true lease, not a block-charter program.
The market for business aircraft in India is wide open and set to grow at a rate of about 13 percent each year over the next decade, according to Alok Wadhawan, a manager with the structured finance division of South African bank Investec.
Members of the Florida Aviation Trades Association learned recently that the Third District Court (Miami) has issued a ruling that will significantly affect the recourse available to the maintenance industry when faced with a non-paying customer.
Previously, a repair facility could put a lien on the aircraft when it perceived the customer would not pay the bill regardless of who was in possession of the aircraft.
At a time when some see business aviation as an unnecessary extravagance, a new study sponsored by NBAA, the General Aviation Manufacturers Association and others has concluded that over a broad range of uses, business aircraft can materially benefit shareholders.
In a letter to USA Today, NBAA president Shelley Longmuir said the newspaper’s August 5 article on corporate aviation ignored the “demonstrated and over-arching benefits” of business aviation.