Residco Adds To Leasing Pool with Brown Asset Buy

 - May 12, 2022, 6:53 PM

Rail and aircraft leasing company Residco has purchased all assets of Brown Aviation Lease and plans to expand its leasing portfolio for flight schools and aviation universities. The assets included 31 aircraft, primarily Cessna 172s, that are already under lease, as well as five airplanes on order and scheduled for delivery this year.

Following the purchase, Residco retained one of the Brown Aviation principals as an advisor. There were no other employees of Brown other than principals, explained David Kolber, Residco director of aviation marketing. He added that the company “plans to work with flight schools across the [U.S.] to support their fleet needs." This includes exploring the placement of additional aircraft orders.

According to Kolber, “The well documented pilot shortage has created significant stress on the entire aviation industry. To add to that, many flight training programs are facing a major re-fleeting as their aircraft approach 50 years old. There is significant demand for financing of these new aircraft and limited appetite from aviation-focused lenders. Aside from the innovative work of Brown Aviation Lease, the leasing market for this segment is not well developed, and Residco looks forward to bringing its deep understanding of the leasing product and aviation knowledge to the market.”

Another recently launched company that specializes in light aircraft leasing, FlytFinance, was also recently launched.