On the heels of secured note private placement that brought in $575 million in cash earlier this week, helicopter lessor Milestone Aviation Group announced today that it has closed on an unsecured $200 million revolving credit line. This new facility increases Milestone’s unsecured borrowing capacity to $450 million and revolving borrowing capacity to $800 million.
The annual NBAA convention routinely serves as an appropriate time to reflect on activity in the pre-owned market for both light jets and single-engine turboprops. As we look back at the year that has passed, it’s fair to say that while these markets have not set any blistering records, some calm is in the air.
Former NetJets Europe executive Chris Moody claims he has helped to bring liquidity back into the market for fractional shares in business aircraft by offering a way to buy and sell shares without incurring what he regards as the prohibitive fees associated with fractional ownership contracts.
Sources for financing of corporate aircraft purchases may be harder to find this year than last, but Toennies von Limburg, director of international sales with Bank of America Corporate Aircraft Finance (Booth No. 394), said there is value to be had in what has turned rapidly from a buyers’ to a sellers’ market.
Textron has plans to boost its liquidity by at least $1 billion in the first half of this year and, if successful, the company “won’t have to think about selling any of our core assets,” according to chairman and CEO Lewis Campbell. The Providence, R.I.-based company has already divested itself of a lesser, unidentified asset and is in the process of exiting its finance business.
Textron has plans to boost liquidity by at least $1 billion in the first half of this year and if successful, said chairman and CEO Lewis Campbell on Tuesday, “We probably won’t have to think about selling any of our core assets.” The Providence, R.I.-based company has already divested itself of a lesser, unidentified asset and is in the process of exiting its finance business.