Aspen Avionics signed a memorandum of understanding (MoU) with the NextGen GA Fund, a public-private partnership that will provide up to $1.3 billion in financing over the next 10 years for NextGen avionics upgrades in general aviation (GA) aircraft. The MoU provides the framework for Aspen and the fund to work together to promote the rollout of NextGen to the GA community.
“This is a unique opportunity to provide our aircraft owner customers with the guidance, expertise, products, services and financing to help them comply with the ADS-B airspace mandate,” said Aspen Avionics president and John Uczekaj. He noted that more than 157,000 GA aircraft cockpits will need to be modernized with NextGen avionics over the next decade.
The NextGen GA Fund will finance NextGen installations, including Waas-capable GPS, ADS-B in, ADS-B out, Rnav/RNP avionics, data communications, Swim, flat-panel displays, antennas, electronic components, instrument panel modifications, installation and certification costs.
“The debate is not about upgrading U.S. aircraft with NextGen; it’s how to finance it inexpensively,” said Michael Dyment, general partner with the Nexa General Partnership, which is managing the fund. “The NextGen GA Fund uses private-sector capital to achieve public benefits.”