AEA Partners with NextGen Fund for ADS-B Loan Help
The Aircraft Electronics Association (AEA) has partnered with the NextGen GA Fund to provide loans to general aviation aircraft owners and operators to help finance installation of NextGen equipment. The fund is managed by Nexa General Partnership, and the agreement will allow AEA member companies to offer access to loans when selling NextGen installations to customers. NextGen equipment covered includes ADS-B out and in, the Waas-capable GPS receiver required for ADS-B, Rnav/RNP systems, data communications, System Wide Information Management, displays, antennas, components and installation and certification costs. The AEA plans to introduce the program on March 12 at the 57th annual AEA International Convention & Trade Show in Nashville, Tenn. Nexa estimates that 150,000 of the 200,000 general aviation aircraft in the U.S. will be upgraded for ADS-B. This includes 20,000 jet and turboprop airplanes and 10,000 helicopters. The NextGen GA Fund starts with $550 million of capital and is expected to grow to support more than $1.3 billion worth of NextGen installations during the next 10 years.