Debt

July 29, 2008 - 11:28am

Students of the now-defunct training school Silver State Helicopters are suing KeyBank, one of the banks that financed their tuition, charging that it engaged in fraudulent loan practices and was an active participant in a Ponzi scheme concocted by Silver State executives. Silver State filed Chapter 7 liquidation bankruptcy on February 3.

May 21, 2008 - 11:09am

The Springfield-Branson Regional Airport (SGF) in Missouri has become the first borrower under a new $300 million airport projects pooled loan financing program created by the American Association of Airport Executives (AAAE).

May 17, 2008 - 11:37pm

Business aviation financiers exhibiting here at EBACE’08 have arrived in Geneva largely uncertain about the full implications of the ongoing squeeze on the global credit market and the availability of funds to pay for aircraft purchases. Last month, EBACE Convention News approached six banks listed as exhibitors, but only two–Citi Private Bank (Booth No. 1441) and Bank of America (Booth No.

January 22, 2008 - 11:57am

Milwaukee-based Midwest Express last month suspended lease and debt payments on 38 of its 58 airplanes, including several Fairchild Dornier 328JETs and Beech 1900s flown by its wholly owned regional subsidiary, Skyway Airlines.

January 22, 2008 - 11:57am

Milwaukee-based Midwest Express last month suspended lease and debt payments on 38 of its 58 airplanes, including several Fairchild Dornier 328JETs and Beech 1900s flown by its wholly owned regional subsidiary, Skyway Airlines.

December 3, 2007 - 10:48am

What a difference a year makes.

October 4, 2007 - 10:25am

Unlike insurance rates, which are decreasing slightly or at least stabilizing, aviation financing rates have apparently bottomed out and were on the rise last month.

However, like home mortgage rates, interest rates for aircraft are still near historic lows. What direction they go next is impossible to predict accurately, but current economic conditions seem to point in a continued upward direction.

December 6, 2006 - 9:09am

Mission Oaks National Bank in Temecula, Calif., hopes to become the lender of choice for pilots shopping for general aviation airplanes and, in some cases, helicopters in the western U.S. from New Mexico to Washington, as well as Nevada and Arizona, and occasionally other states. The bank will consider loans on aircraft valued up to $3.5 million. Veteran aviation lender Juan Alonzo has been hired to manage the new aircraft loan department.

November 13, 2006 - 10:49am

When Mary Schwartz, director of aircraft finance for Citigroup (Booth No. 1058), was given the task of forming the New York-based bank’s aircraft finance department six years ago, its portfolio of business airplanes consisted of just a few.

 
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