European private equity firm Bridgepoint has acquired Global Design Technologies from Stirling Square Capital Partners in a transaction worth $343 million. GDT makes permanent couplings used to connect hydraulic, fuel, air and other tubing in all types of aircraft.
This year’s Aviation Insurance Association (AIA) conference, held from April 28 to May 1 in Palm Springs, Calif., convened in the atmosphere of an aircraft insurance market that is putting smiles on the faces of aircraft operators while underwriters and brokers tussle in a highly competitive business environment.
Property and casualty insurance company Travelers is venturing into aviation with its Travelers Aviation division, announced last month.
The boom in demand for business jets is inevitably pushing prices skyward, and Citi Private Bank is here (Booth No. 858) to help would-be buyers finance their airplanes.
Given the bucks or the ability to borrow them, buying a business jet ought to be a straightforward affair. And if you don’t care about the potential downsides, it may be. But the typical business aircraft transaction involves a multinational cast of players and a plethora of contracts to go with them.
Guggenheim Partners and UBS have formed Guggenheim Aero Finance, a corporate jet financing company that will combine worldwide reach with a streamlined approval process to offer aircraft financing solutions to individual and corporate buyers of new and pre-owned corporate jets.
Austrian-based operator Jetalliance announced here on Tuesday that it is now offering what it claims to be a new kind of business aircraft financing called asset-based leasing. Under the scheme, a firm or individual agrees to make a down payment for part of an aircraft–say, 30 percent. Jetalliance then buys the aircraft from the manufacturer. It will then own the remaining 70 percent.
Much of the unprecedented recent growth in sales of business aircraft has been driven by the international market, where advantageous exchange rates have made dollar-denominated assets unusually affordable.
Back in 2001, NetJets Europe might have considered a shortage of suitably qualified pilots to be a nice problem to face. At the time, the industry’s fractional ownership leader had no more than 80 clients in Europe–five years after having imported the concept from the U.S.
The Aircraft Electronics Association (AEA) convention usually offers a sneak preview of the future of general aviation avionics. This year there were plenty of product introductions, but the real news from AEA 2007 unfolded before the show started.