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.
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.