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.
The market for business aircraft in India is wide open and set to grow at a rate of about 13 percent each year over the next decade, according to Alok Wadhawan, a manager with the structured finance division of South African bank Investec.
At Heli-Expo, Milestone Aviation Group, a global finance company for the helicopter and private jet markets, today announced $205 million in helicopter lease transactions since its launch in August.
Aircraft valuation specialist Ascend painted a mixed picture of prospects for airliner leasing and sales this year in its Evolution 2011 webinar on February 10.
Members of the Florida Aviation Trades Association learned recently that the Third District Court (Miami) has issued a ruling that will significantly affect the recourse available to the maintenance industry when faced with a non-paying customer.
Previously, a repair facility could put a lien on the aircraft when it perceived the customer would not pay the bill regardless of who was in possession of the aircraft.
Richard Santulli, founder of fractional-share company NetJets, is back in the aviation business with a new business jet and helicopter leasing company called Milestone Aviation Group. Santulli, 66, resigned from NetJets last August but said at the time that he would remain a consultant to the company for a year. Warren Buffett’s Berkshire Hathaway bought NetJets in 1998 for $725 million.
Spare-parts company Ship It AOG has added a 7,000-sq-ft warehouse adjacent to its existing facility in Addison, Texas, bringing the total warehouse space to 14,000 sq ft. The company opened in 2000 and “for years we doubled our growth annually.
International Brotherhood of Teamsters Local 1108, the union for Flight Options’ 500 pilots, this week announced that it reached a tentative agreement for a first contract last Thursday with the Cleveland-based fractional provider. The agreement comes some four years after the union came on the property and, if ratified, will end years of sometimes acrimonious negotiations.
Avidyne is offering an extended warranty plan called FlexCare, available for one-, two- or three-year terms after the original two-year warranty expires. Coverage is the same as provided by the original warranty, including parts, labor, dealer removal and installation and calibration charges as well as Avidyne’s platinum exchange and advanced exchange services for expedited return to service and in- and outbound shipping on exchanges.