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.
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 International Monetary Fund’s April 18 warning that Europe’s banks could lose some $2.6 trillion over the next 18 months lent weight to concerns of a continuing aircraft finance drought recently voiced by airline treasurers and finance bosses.
Cleveland-based Constant Aviation has named Jay Randall to the position of Great Lakes regional sales manager. Randall joined the company from Dallas Airmotive, where he was responsible for the sale of engine maintenance services specializing in the PT6A, JT15D, Spey and Tay for the Northeast and Great Lakes territory. Before that Randall was a maintenance manager for the Flight Options sales and acquisitions department. He will be responsible for selling maintenance, avionics, interior, parts and modifications/refurbishments in the Great Lakes region.
Nextant Aerospace brushed off a communiqué sent by Hawker Beechcraft (HBC) warning it will not provide any support for aircraft modified without the Wichita manufacturer’s “involvement or approval.” The memo specifically mentions the Nextant 400XT, a remanufactured “zero time” Beechjet with new Williams FJ44-3AP engines and Rockwell Collins Pro Line 21 avionics.
Nextant Aerospace brushed off a communiqué sent by Hawker Beechcraft (HBC) on Friday warning it will not provide any support for aircraft modified without the Wichita manufacturer’s “involvement or approval.” The memo specifically mentions the Nextant 400XT, a remanufactured “zero time” Beechjet with new Williams FJ44-3AP engines and Rockwell Collins Pro Line 21 avionic
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.