With financing for business aircraft still far from easy to secure, ExecuJet Aviation has stepped up its efforts to help get more people airborne through its SimplyFly Finance program. The plan is to offer fast-access, simplified nonrecourse financing in the shape of five-year loans or leases for up to 70 percent of the value of an aircraft worth at least $20 million and no more than five years old. An initial fund of $400 million provided by ExecuJet’s main shareholder Dermot Desmond is available to support the program.
ExecuJet Aviation is offering aircraft buyers a more direct and straightforward way to finance and operate business jets through its relaunched SimplyFly program. The package offers a quick decision on financing and the opportunity to have the aircraft managed.
ExecuJet Aviation is offering aircraft buyers a more direct and straightforward way to finance and operate business jets through its relaunched SimplyFly program. The package offers a quick decision on financing and the opportunity to have the aircraft managed under a five-year lease.
ExecuJet Aviation will receive the first aircraft for its new Simply Fly program within the next three to four months, and expects to have 10 large-cabin jets in service by year-end. The company launched its wet-lease alternative to fractional ownership, block charter and traditional aircraft management in March.
The London City Airport operator has entered the executive charter market with a new Dassault Falcon 900EX. Early in October it secured a commercial AOC for the aircraft, which will also be flown for Irish entrepreneur Dermot Desmond, who owns the airport.
In July ExecuJet Aviation will open a new base for its charter and management clients at London City Airport. It is also preparing to establish a new UK sales and operations subsidiary in the nearby Canary Wharf financial center under the leadership of the firm’s newly appointed executive director for group sales, Andrew Hoy, who was formerly with Bombardier’s Skyjet block charter program.
ExecuJet Aviation has launched a new lease-based alternative to fractional ownership, block charter and traditional aircraft management. Simply Fly will see the Swiss group acquiring business jets, making them available to individual clients and operating them on a fully turnkey basis, covering crew, insurance, maintenance and handling. Customers will have exclusive use of an aircraft and a dedicated crew.
Irish entrepreneur Dermot Desmond has acquired a majority shareholding in the entities that compose ExecuJet Aviation Group, which provides charter/management services, sales for Bombardier Business Aircraft and Grob Aerospace, aircraft maintenance services and operates FBOs on four continents. Niall Olver will remain ExecuJet’s CEO, while Desmond will become chairman of the company.
In yesterday's report about the change of ownership at ExecuJet Aviation ("Desmond Buys Majority Share of Execujet"), AINonline incorrectly reported that Dermot Desmond is the majority owner of Grob Aerospace. In fact, Mr Desmond holds no shares in Grob Aerospace and has no connection with the company.
Irish entrepreneur Dermot Desmond has acquired majority ownership of Zurich-based ExecuJet Aviation Group, the company announced today. Though the terms were not released, Desmond will hold more than 51 percent of ExecuJet and join the board as chairman. According to ExecuJet CEO Niall Olver, who will remain in place “for the time being,” ExecuJet sought the investment to recapitalize for future development.