Quest Aircraft Co. of Sandpoint, Idaho, introduced an executive interior for its rugged Kodiak turboprop single at EAA AirVenture at Oshkosh, Wis., last week.
The used business jet market has not yet reached equilibrium. That was the general consensus among industry experts at the National Aircraft Resale Association (NARA) forum in Dallas at the end of February.
On Monday, JetDirect Aviation and JDA Acquisition Company (JDAAC) solidified an agreement for JDAAC’s purchase of JetDirect’s assets.
For business aviation, the latest $787 billion economic stimulus bill–H.R.1, the “American Recovery and Reinvestment Act”–giveth with one hand and taketh away with the other.
Regional-aircraft manufacturers face the prospect of increased financial risk in coming years, despite having been able to reduce sales costs since the mid-1990s, according to Moody’s Investor Service. As the economic recession continues, the New York-based credit research agency said such companies might not escape global requirements for more financial assistance to operators.
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.
GMAC’s business aircraft finance group of Southfield, Mich., has launched a trial program, initially for three to six months, in which buyers of new or used turbine aircraft can defer loan payments for six months.
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.