industry news

With a new US President taking office, an uncertain economic environment and conflict in Europe and the Middle East, 2025 could pose a range of challenges and opportunities for Business Aviation finance. Gerrard Cowan, with AvBuyer, explores.

It has been a turbulent few years for the global economy and for Business Aviation. 

Chad Anderson, CEO of business aircraft acquisition specialist Jetcraft, reflects that demand for pre-owned aircraft surged following the Covid-19 pandemic, “driven by a combination of supply chain issues affecting new aircraft production and an influx of first-time buyers entering the market”.

This dynamic could begin to shift in 2025, he says. With new aircraft production expected to ramp up and more deliveries coming online, the pre-owned market might soften slightly, which could impact aircraft values and loan-to-value ratios.

Still, well-maintained and newer pre-owned models are likely to be highly sought after and to hold their value, Anderson says.

“In a high-demand market, financing availability could become more competitive, especially for in-demand models that retain strong value,” he adds. “Buyers will need to act swiftly and be well-prepared to secure favorable financing terms.”

Demand is still very strong, but there is a division in the market based on aircraft age, notes Ramy Sidhom, Head of PNC Aviation Finance. Older aircraft experienced an unprecedented increase in demand and value in the first few post-pandemic years, but now the inventory of older models has stabilized and their values are falling.

“First-time buyers who bought older aircraft at their height of demand and value are now experiencing their first major maintenance events, leading them to explore upgrades for newer models,” he highlights.

There has been great speculation about what would become of the first-time buyers, post-pandemic – would they stay or go? They have not exited the market, says Sidhom, but rather have refined their searches, becoming savvier and exploring options that meet all of their unique mission needs.

This will impact the market heading into the coming year, he predicts. “We believe they are here to stay, and they will continue to appreciate the convenience, safety and productivity that Business Aviation provides.

“Additionally, newer aircraft remain in high demand and inventory remains very tight, a trend we expect to continue into 2025.”

Sidhom points to a range of other areas to watch for in 2025. For instance, he highlights the potential rise in inventory levels (particularly in older model aircraft), potential changes to the new aircraft order backlogs for the OEMs, their challenges with delivery schedules, and the general supply chain challenges faced by the industry.

Read full article here

This article was originally published by AvBuyer on December 11, 2024.

From its humble beginnings 53 years ago, National Aircraft Finance Association (NAFA) has taken flight and become a cornerstone of the aviation finance industry. Founded on a passion for aviation and a commitment to fostering responsible aircraft financing, NAFA has grown into a robust network of nearly 200 member companies. 

As 2024 draws to a close, NAFA reflects on a year marked by continued growth, a commitment to education, and fostering a strong and vibrant community. 

Masters’ in Aviation Finance Degree Adds NAFA Courses - Laying the Groundwork for the Future Workforce of Business Aviation Finance 

In late 2023, the NAFA Foundation announced an Endowment with Embry Riddle Aeronautical University’s School of Business (ERAU).  NAFA subsequently established an Education Committee to oversee the relationship between NAFA, the NAFA Foundation and ERAU. This group has been working together to create a business finance concentration within ERAU’s Master’s in Aviation Finance degree program, with two unique courses—NAFA1 and NAFA2. NAFA1 expands on the commercial aviation finance curriculum currently available; adding business aviation, while NAFA2 is a new course focused solely on business and general aviation finance. The goal is to make the program available for students in the 2025/ 2026 scholastic year starting mid-2025. 

Welcoming New Members and Fostering Collaboration 

NAFA has seen its membership base flourish in 2024, welcoming a remarkable 40 new member companies. This influx of fresh perspectives and expertise reinforces NAFA's position as a comprehensive network for all stakeholders within the aviation finance industry. From established lenders to niche specialists, NAFA provides a platform for collaboration, knowledge sharing, and the exchange of ideas that ultimately propel the industry forward. 

NAFA Members Connect at Key Events 

2024 was a year of strengthening connections within the aviation finance community. NAFA members actively participated in a series of impactful events, fostering collaboration and knowledge exchange. 

NAFA 52nd Annual Conference: Our flagship event held at the JW Marriott Tucson, AZ, served as the premier platform for a record-breaking 233 industry professionals to network, engage in thought-provoking discussions, and explore the latest trends and developments in aircraft finance.  

NAFA/IADA 2024 Networking Welcome Reception: This joint event with the International Aircraft Dealers Association (IADA), was held at the newly opened Fontainebleau in Las Vegas, NV. This was a valuable space for more than 600 attendees from both organizations to network, build relationships, and explore potential business opportunities. 

3rd Annual NAFA Reception at EAA AirVenture: This reception at the prestigious EAA AirVenture expo served as a unique opportunity for NAFA members to network with industry stakeholders from the general aviation community as well as Embry-Riddle students/interns. With more than 100 attendees, this event continues to grow in large numbers each year.  

We look forward to these events in 2025, and hope to see all of you there! NAFA’s 53rd Annual Conference has been set! Save the Date: April 8–10 at the Harbor Beach Marriott Resort & Spa located in Fort Lauderdale, FL. Registration opens soon for NAFA53, so sign up and start planning your trip!  

Equipping Members for Success with Transactional Integrity Resources and Industry Insights 

Recognizing the importance of upholding ethical standards within aircraft finance transactions, NAFA invested significantly in developing a robust suite of resources dedicated to transactional integrity. These resources, encompassing informative webinars and comprehensive materials, offer valuable guidance to members, empowering them to navigate complex transactions with confidence and transparency. All resources developed so far can be found on our new Transactional Integrity resources page, which serves as the hub for this member resource. 

The NAFA newsletter also supported our members with monthly articles covering important topics in aircraft finance. Our top articles this year include: 

• A Lender's Overview To Perfecting Your Aircraft Interests With the FAA 

• Essential Practices for Ongoing Due Diligence in Aircraft Transactions 

• Bill Allen: A Visionary Leader in Aircraft Financing with a Passion for Excellence and Community 

If you’re interested in contributing to an article for 2025, don’t hesitate to reach out to tlc@nafa.aero. 

Honoring a Legacy of Achievement 

The year was also marked by the celebration of Tony Kioussis' remarkable career. We were pleased to present Tony with the NAFA Lifetime Achievement Award at the NAFA 52nd Annual Conference. The Lifetime Achievement Award recognizes individuals who have made outstanding contributions to the aircraft finance industry throughout their career and underscores the importance of the association’s values.  

Leadership and Vision for the Future 

NAFA welcomed several new board members in 2024, Beau Baird, Republic Bank; Jim Simpson, Solaris Aviation; and Paula Staciarini, Embraer. Ed Kammerer, Greenberg Traurig has taken over the role of General Counsel. These individuals' expertise and leadership has been and will continue to be instrumental in guiding the association towards a bright future. Their diverse backgrounds and proven track records ensure that NAFA remains a dynamic and forward-thinking organization at the forefront of the aviation finance industry. Thank you to the following outgoing Board members for their commitment and dedication to the NAFA Board: Richard Barret, Huntington Bank; Stephen Friedrich, Embraer; and Dave Warner who served as our General Counsel.  

Looking Ahead: NAFA in 2025 

As we move in 2025, NAFA will focus on providing the business and general aviation finance community opportunities for growth and betterment through collaboration, member expertise, and educational content. Stay tuned and keep an eye on your inbox for updates! 

Contact Information:

Tracey Cheek
TLC@NAFA.aero
405-285-7005

Kristi Tucker
Airbus in North America
202-961-4798
kristi.tucker@airbus.com

NAFA Welcomes New Member: Airbus

Edgewater, MD — NOVEMBER 21, 2024 - National Aircraft Finance Association (NAFA) is thrilled to announce that Airbus has recently joined its network of aviation professionals.

“Airbus joining NAFA is a step forward in advancing our mission to improve and facilitate the financing process to support aircraft buyers,” said Ed Medici, NAFA President. We welcome Airbus to our growing organization and enhancing opportunities for all our members.”

As a new NAFA member, ACJ aims to foster stronger relationships within the business aviation finance community, gain insights on the latest trends and best practices to elevate the customer experience by sharing its OEM expertise, and participate in collaborative efforts to create value for customers.

About Airbus:
Airbus pioneers sustainable aerospace for a safe and united world. The company constantly innovates to provide efficient and technologically advanced solutions in aerospace, defense, and connected services. In commercial aircraft, Airbus designs and manufactures modern and fuel-efficient airliners and associated services. Airbus is also a European leader in space systems, defense and security. In helicopters, Airbus provides efficient civil and military rotorcraft solutions and services worldwide.

Airbus Corporate Jets offers the most modern and comprehensive corporate jet family in the world, giving customers the greatest choice of unique, customizable and spacious cabins, with intercontinental range, with the lowest costs of operation.

ACJ’s aircraft are not just tools for transportation; they are state-of-the-art solutions designed to empower our customers to make an impact, wherever and whenever it is needed. Whether they are supporting national defense, connecting economies, enabling global cooperation & partnerships and creating employment, ACJ’s aircraft are at the heart of driving positive change.

About NAFA: 
The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members with the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. The company now has three offices: Geneva, New York City and Dubai.

Starting Nov. 5, 2024, the Federal Aviation Administration (FAA) Civil Aviation Registry will remove electronic access to Work in Process (WIP) documents as a result of FAA Order 1370.121B. The following notice was submitted to FAA Public Documents Room Permittees: 

Effective November 5, 2024, the FAA Civil Aviation Registry will discontinue the daily index document CD service and remove electronic access to Work in Process (WIP). FAA Order 1370.121B, FAA Information Security and Privacy: Policy, prohibits the disclosure of personally identifiable information (PII). After consultation with the FAA Privacy Office, it has been determined that, because documents in WIP have not been reviewed for PII or accepted into the aircraft record, the Registry can no longer provide access to these documents.  

Data indexes of all received documents will continue to be available on the Registry’s website (Document Index Inquiry), which is updated each Federal working day at Midnight.  

The new process aims to protect personally identifying information in the unprocessed documents by removing public access to documents before they are reviewed. Historically, closing agents were able to view these WIP files and understand what is being filed, by whom, and what impact it may have on closing.  

Under this new process, closing agents will have no visibility until a document is processed, potentially 12 or more days from the time it is filed. Closing agents will be able to see whether there are WIP documents filed, but not the contents or type of filing. Documents that could impact the sale, such as filings by other lenders, claims of lien, bills of sale, etc., will not be visible until they are fully processed by the FAA. 

Key impacts of this new process include: 

• Delayed Access to Filed Documents: Lenders may be unable to access recently filed documents, including those related to aircraft titles and lien interests, for up to 12 days. This delay could hinder due diligence processes and impact the ability to accurately assess status of the title.  

• Transaction Uncertainty: In particular, delayed access to cancellation notices could create uncertainty regarding the import process. New documents filed could also contain information on parties involved in the transaction that you may need to know before moving forward. 

• Potential for Delayed Closings: The inability to access timely and accurate information may lead to delays in obtaining necessary legal opinions or title searches, or stalling closing transactions. This could increase transaction costs and create financial risks for lenders. 

With this new process, it will be more important than ever to remain flexible should any last-minute filings appear on the index prior to closing.   

Many thanks to Scott McCreary with McAfee & Taft for his contribution to this article.   

This article was originally published by NAFA on November 12, 2024.

FOR IMMEDIATE RELEASE: November 11, 2024
 

Contact: Tracey Cheek  
tlc@nafa.aero   
405-285-7005

Andrew Gratton 
Chief Operating Officer 
andrew@wingform.com  
wingform.com 

NAFA Welcomes New Member: Wingform 

Edgewater, MD - November 11, 2024 – The National Aircraft Finance Association (NAFA) is pleased to announce the addition of Wingform to its membership. Wingform, a leading provider of digital transaction management solutions for the aircraft industry, joins NAFA’s community of professionals dedicated to advancing the aviation finance sector. 

Wingform’s innovative platform offers a comprehensive suite of tools designed to streamline the aircraft buying and selling process. By leveraging technology, Wingform enables brokers and service providers to manage transactions more efficiently, reducing paperwork, improving communication, and enhancing overall customer experience. 

"We are excited to join NAFA and connect with a community of experienced professionals who share our commitment to innovation and efficiency in aircraft transactions," said Andrew Gratton, chief operating officer of Wingform. "Wingform's comprehensive digital platform streamlines the buying and selling process for aircraft brokers and service providers, and we believe our solutions will be a valuable asset to NAFA members." 

“NAFA members facilitate the financing of general and business aviation aircraft on a global scale,” said Ed Medici, NAFA President. “We welcome and support Wingform’s services that play a role in advancing the interests of NAFA members within the aviation industry.”  
 

About Wingform:
Wingform is a revolutionary digital platform that streamlines the entire aircraft buying and selling process in one secure, user-friendly platform. Wingform empowers brokers and service providers to manage every aspect of a transaction, including communication with third-party service providers, document management, and escrow services. Wingform is designed to save time, reduce costs, and improve the overall transaction experience for all parties involved. 
 

About NAFA:
The National Aircraft Finance Association (NAFA) is a non-profit professional association serving the general and business aviation finance industry. NAFA's nearly 200 members include lenders, brokers, appraisers, attorneys, title and escrow firms, and other aviation finance professionals. NAFA promotes professionalism, education, and advocacy within the industry. 


This NAFA press release was originally published on November 11, 2024.

AvBuyer's Chris Kjelgaard asks industry experts what conditions they reckon will prevail in the market for pre-owned business aircraft in 2025.

Barring a major geopolitical event or environmental calamity, 2025 should prove to be a year of price stability and healthy trading levels for the younger examples of the world’s fleet of pre-owned business aircraft. Such is the view of four senior aircraft traders...

But the outlook isn’t anywhere near as rosy for business aircraft which have been in service for 20-plus years as the pre-owned market settles back to what insiders consider a “normal” state of buying and selling activity.

The aircraft brokers see the market in North America, and particularly the US, continuing to dominate pre-owned aircraft for sale activity. And not only will activity in the US domestic market continue at a high level, but internationally the US will be a net accepter of pre-owned business aircraft from around the globe.

The hungry US market is expected to particularly look to Europe for pre-owned jets and turboprops, partially because European Business Aviation is under an increasingly intense spotlight from the continent’s environmental organizations and governments.

While much of that scrutiny is uninformed and unfair, the pressure is anticipated to continue to result in used aircraft leaving the European fleet to make their way elsewhere – particularly to the US (for smaller and larger aircraft alike) and to the Middle East and Asia (for large business jets).

Current & Near-Future Used Aircraft Market Conditions

Tony Theis, Vice President of Sales, Acquisitions and Consulting for Central Business Jets, notes the market for used business aircraft has become much more stable in 2024, with the buying frenzy prevalent during the peak of the COVID-19 pandemic calming.

“What Central Business Jets is seeing is that prices have really come back to a healthy stabilization,” he adds. “They have come down about 10% across the board from the highs of 2021 to 2023.”

In the globally dominant US market, growth has been very modest in 2024, because the US’s GDP has stagnated and could even end the year down. “The thing we do know that affects the [used] aircraft market is not the stock market, but the GDP of the economy,” Theis continues. “We see growth when we get over the 2% range” in GDP growth.

Because the US GDP is not growing at a strong clip, Theis reckons "we are not seeing 4-6% growth” in the aircraft market as a result. Additionally, he says “we’re seeing discounts because aircraft...were too highly priced” during the pandemic-led trading bubble.

That said, the market “is still up quite a bit from pre-COVID levels and we’re still seeing very healthy numbers” of inquiries for Central Business Jets’ listings of aircraft for sale, he says, revealing his company received about 30 inquiries for a Bombardier Challenger 300 it listed the previous week.

While most were from individuals or companies who were “just curious” about the aircraft, five or six were from those who were “really thinking of upgrading” to a younger or bigger aircraft.

Overall, he adds, the healthy state of the used-aircraft market is benefiting from the fact that the “OEM backlogs [of new aircraft on order] are stable and really healthy – the OEM market drives the used market”.

Business Aircraft OEMs Hold Fire

According to Johnny Foster, President & CEO of OGARAJETS, today business aircraft manufacturers are all boasting orderbook backlogs of 18-24 months at current production levels.

Read full article here

This article was originally published by AvBuyer on November 5, 2024.

The FAA Aircraft Registry issued a notice today to the FAA Public Documents Room Permittees, copy attached. The notice confirms that in an effort to keep personally identifying information that may be in the documents confidential parties will no longer be able access Work in Progress files.

When documents are filed with the FAA they are file stamped with the date and time of filing. The documents are then quickly indexed against the equipment involved, normally within a few hours, thus providing notice to the public that a filing exists. This is important because priority of the conveyance filed under the FARs relates back to the date and time the documents are filed, not when they are recorded or show up in the FAA record for an aircraft/engine/propeller/spare part location.

Historically filed documents were moved to Work in Progress or “loose documents”, yet we could access copies of the documents from the FAA Public Documents Room. There is no way to know with certainty what documents were filed, parties involved, etc., by just looking at the FAA index.

Under the new process when parties run an index and determine documents were recently filed, they won’t be able to access the Work in Progress or “loose documents” for about 12 days +/-.  This won't affect every deal, but there are many transactions where documents may be showing up on the index, but not processed, prior to a closing. It will likely affect matters involving imports, where the notice of cancellation received by the FAA may not be available for days. Cancellation notices often contain references to filings or other parties that create clouds on title. In some instances law firms will not be able to provide clean opinions until the documents are processed and moved out of work in progress, which will likely delay closings.

The Registry has worked with the aviation industry to address similar issues in the past, and we expect they will provide solutions where possible.

Please reach out to the McAfee & Taft Aviation Group if you have questions.

This article was originally published by Scott McCreary with McAfee & Taft on October 31, 2024.

Contact Information: 

Tracey Cheek  
TLC@NAFA.aero  
405-285-7005  
 

Denise Wilson, CAM
denise@thejetagent.com
(480) 955-JETS

 

NAFA Welcomes New Member: The Jet Agent 
 

Edgewater, MD — October 31, 2024 - National Aircraft Finance Association (NAFA) is pleased to announce that The Jet Agent has recently joined our network of aviation professionals. The Jet Agent provides expert representation to help clients navigate the complex process of buying or selling a jet. Specializing in Citation aircraft, they offer a range of services, including aircraft valuation, negotiation, and transaction management. The company has a team of experienced professionals who are dedicated to providing their clients with the highest level of service. 

“NAFA members proudly finance, support or enable the financing of general and business aviation aircraft throughout the world, and we are happy to add The Jet Agent to our association,” said Ed Medici, President of NAFA.   

“As Citation sales and acquisitions specialists, we wouldn’t be successful without the partners in aviation finance,” said Denise Wilson, Founder and President of The Jet Agent. We're proud to join the NAFA family and look forward to collaborating to network and learn from the membership and provide industry insights on the markets we serve.” 

For more information about The Jet Agent, visit thejetagent.com. 

About The Jet Agent: 
Founded in 2023 by Denise Wilson, CAM, The Jet Agent leverages decades of experience to help aircraft buyers and sellers achieve their dream outcomes when buying their first or jet or transitioning to their next. As a jet broker, acquisition representative and private aviation consultant, The Jet Agent offers concierge-level service throughout jet acquisitions and sales, ensuring clients become well-informed jet owners. Specializing in Citation jets, the firm’s expertise spans training, management, maintenance, operations and oversight, as well as seamlessly guiding clients through the entire process. Headquartered in Scottsdale, Arizona, The Jet Agent demonstrates its commitment to industry excellence as a member of the Citation Jet Pilots Association, The Arizona Business Aviation Association and the National Business Aviation Association.  

For more information, subscribe to monthly Citation aircraft market reports at thejetagent.com/aircraft-market-reports, call (855) 525-JETS and follow The Jet Agent on LinkedIn, Instagram and Facebook. 

About NAFA:  
The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members with the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. The company now has three offices: Geneva, New York City and Dubai. 

Looking to join NAFA? Reach out to admin@nafa.aero for more information. 

Las Vegas, NV—October 28, 2024: The NAFA/IADA 2024 Networking Welcome Reception, a cornerstone of NBAA-BACE, once again proved to be a dynamic hub for industry professionals. Held at the Fontainebleau in Las Vegas, the event brought together aircraft brokers, dealers, and financiers from across the globe. The lively atmosphere facilitated valuable connections and discussions, fostering collaboration and innovation within the aviation finance community. 

The event provided a vibrant atmosphere for industry professionals to reconnect, network, and discuss the latest developments in aviation finance. Attendees enjoyed the opportunity to catch up with colleagues, explore new business opportunities, and learn about the latest industry trends. 

“What sets the NAFA/IADA Welcome Reception apart is the unique blend of professionals it attracts,” said Ed Medici, president of NAFA. “Brokers, dealers, and financiers come together to share insights, explore new opportunities, and drive innovation. It's a truly collaborative environment that benefits everyone involved.” 

NAFA and IADA would like to thank the sponsors who generously supported the event and helped make the reception a success: Diamond Sponsor Scope Aircraft Finance; Platinum Sponsor JSSI; Gold Sponsors Eastern Recovery, Inc, Insured Aircraft Title Service, Leviate Air Group, Gilchrist Aviation Law, and Aviation Legal Group; and Bronze Sponsors Bank OZK Business Aviation Group, Bank of America, Flying Finance, and PNC Bank.  

About NAFA: The National Aircraft Finance Association (NAFA) is a professional association promoting the general welfare of aircraft finance for more than 50 years. Our network of members includes lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. In addition, market influences and industry insights allow member companies to provide the highest quality services the industry offers. 

Dave Madden, a seasoned professional in the aviation finance industry, has carved a unique path that showcases the diverse opportunities and rewards within this specialized field. From his early days as a pilot to his current role as a leader in aviation finance at Banterra Bank, Madden's career journey is a testament to the power of mentorship, lifelong learning, and a passion for aviation. 

Madden remarks, “it's funny how you start out one way, and you go down the end of the road, you look back and you did something maybe totally different, but within the industry. But at the same time, if I could change anything on my career path, I wouldn't change a thing.” 

A Winding Path to the Present 

Madden's career has not been without its twists and turns. Originally aspiring to become an airline pilot, he holds an Airline Transport Certificate along with multiple Instructor ratings but was forced to pivot his career path due to economic downturns in the airline industry during the late 70’s and early 80’s. His first steps into aircraft finance took him to a bank where he gained experience in asset management and repossessions. In this first position, Madden gained exposure to the process of assessing and valuating an asset, determining how to liquidate it, and go through the legal process to collect any remaining deficiency on the loan balance. 

Eventually, Madden would go on to launch his own aircraft finance company, Aircraft Banking Centers, becoming one of the top three largest volume lenders in the industry before selling the company in 2012, to a bank in Tampa. During that process, an opportunity came up with Banterra Bank, his current place of employment. 

Madden joined Banterra Bank in 2014, at a time when the bank was a relatively small financial institution with assets under $1 billion dollars. Since then, Banterra Bank has experienced remarkable growth, surpassing the $3 billion dollar mark in assets in 2023. Despite its size, Banterra Bank has established itself as a specialty lender, focusing on RV, marine, and aircraft financing. Madden's division, specializing in aircraft finance, has been particularly successful, contributing significantly to the bank's overall growth. 

Over the past decade, the aviation finance division has maintained a zero-delinquency rate, demonstrating Madden and Banterra’s strong risk management practices and the quality of its lending portfolio. Additionally, the division has consistently generated high yields, making it one of the top-performing products within Banterra Bank. 

Madden attributes much of the division's success to the support and encouragement he has received from Banterra Bank, especially from the Chairman and founder of the bank, Everett Knight. “Banterra Bank has been extremely supportive of the division, allowing me to create new programs,” he comments. “They were willing to look at those opportunities, see if they made financial sense and if they were viable and allowed me to create those. They’re just a phenomenal organization.”   

The Power of Lifelong Learning and Industry Relationships 

Madden's commitment to lifelong learning and building relationships has been another key factor in his career success. He actively seeks out opportunities to expand his knowledge and network, whether through industry conferences, mentorship relationships, or on-the-job experiences.  

This continuous learning has allowed him to stay ahead of industry trends, adapt to changing market conditions, and develop innovative solutions. Madden sites many mentors who have had a direct hand in his successes along the way, including Sam Peoples, Bill Allen, Kevin Buckland, Stephen Asper, Pam Cooksey, Bob Howe, Charlie Sauter and the late and dearly missed, Adam Meredith. 

Madden has been a dedicated member of the National Aircraft Finance Association (NAFA) for many years, emphasizing its importance in fostering collaboration, knowledge sharing, and professional development within the industry. NAFA offers a wealth of resources, including educational seminars, networking opportunities, and industry insights. 

As Madden puts it, "NAFA has been a game-changer for my career. The connections I've made and the knowledge I've gained through NAFA have been invaluable. It's a must-join organization for anyone in the aviation finance industry." 

Advice for Aspiring Aviation Finance Professionals 

Based on his extensive experience, Madden offers the following advice to individuals aspiring to enter the field of aviation finance: 

• Gain Aviation Knowledge: While a background in finance is beneficial, having a solid understanding of aviation concepts and terminology is essential. Consider obtaining a pilot's license or taking aviation courses to deepen your knowledge and look for opportunities to understand the field of aviation down to its bones.  
  “Try as many things as possible when you're young. Diversification of job experiences within the banking, the finance, and aviation world. Learn what collateral, what types of collateral there are.” 

• Build Relationships: “Everyone gets along in this business and it's fun. You know, one of the things I tell the younger folks getting in is get to know some of the other folks that do your job with other lenders, build relationships. I don't need to tell you, but jobs come from relationships, not from online ads. It's who you know, it really is.” 

• Be Persistent: The path to success in aviation finance may not always be straightforward. Perseverance and a willingness to overcome challenges are essential qualities. 
  “In 10 or 15 years, you’re going to be the primary players. So stay the course, persevere, learn as much as you can, and be ready for a setback or failure now and then, but just utilize that as a positive learning experience.”    

Learn more about Banterra Aircraft Finance by visiting their website www.BanterraAircraft.com or connecting with one of their seasoned professionals, like Dave Madden at (888) 254-5731. 

FOR IMMEDIATE RELEASE – October 14, 2024 

Contact: Tracey Cheek 
TLC@NAFA.aero 
405-285-7005 

Contact: Rolland Vincent 
President 
972.439.2069 
rvincent@rollandvincent.com  
www.rollandvincent.com 

NAFA Welcomes New Member: Rolland Vincent Associates 

Edgewater, MD — October 14, 2024 - The National Aircraft Finance Association (NAFA) is pleased to announce the addition of Rolland Vincent Associates (RVA) to our membership. RVA is an advisory service specializing in business aviation industry intelligence.  

“NAFA members form a network of aviation finance services who diligently and competently operate with integrity and objectivity throughout the world,” said Ed Medici, NAFA President. “We’re excited to welcome RVA to our growing organization. Their services enhance NAFA’s available offerings, and we support their services to advance our members.”  

RVA provides unique and compelling research, insights, roadmaps, and forecasts that power leadership decision-making. RVA’s clients include the world’s foremost civil aircraft and engine manufacturers, aerospace suppliers, aviation service providers, fleet operators, financiers, and the investment community. 

JETNET iQ, a respected source of industry intelligence and statistically rigorous customer research, is a result of a long-term partnership between RVA and JETNET. Established in 1988, JETNET powers investment, growth, operations, and safety through the most comprehensive data and actionable intelligence in aviation worldwide. 

“We are excited to join NAFA and be part of this respected organization,” said Rolland Vincent, President of Rolland Vincent Associates. “With our extensive expertise in business aviation market intelligence, strategy, and the rapidly evolving field of sustainability, we look forward to supporting NAFA’s mission and collaborating with its members to drive innovation and excellence in aviation finance.” 

Learn more about RVA at www.rollandvincent.com. 

About NAFA: The National Aircraft Finance Association (NAFA) is a professional association promoting the general welfare of aircraft finance for more than 50 years. Our network of members includes lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. In addition, market influences and industry insights allow member companies to provide the highest quality services the industry offers. 

Gerrard Cowan speaks to a selection of leading Business Aviation professionals to discover more about the current US market...

While the US business aircraft market experienced a post-Covid boom, there have been signs of softer demand in recent months. Nevertheless, although the sector is adapting to new economic and geopolitical realities, industry experts retain strong optimism looking forward.

Among the factors impacting today’s market, Wen Chongjian, Vice President, Aircraft Sales at Leviate Air Group, says the US business aircraft market in 2024 faces a unique set of challenges and opportunities, driven by political uncertainty, economic factors, and shifting demand dynamics.

“Compared to one to two years ago, demand in the pre-owned market has softened somewhat, with more buyers taking a cautious approach due to heightened uncertainty and higher interest rates,” Chongjian notes.

“Key geopolitical events, such as the ongoing war in Ukraine, have added complexity by impacting fuel costs and global supply chains, indirectly influencing aircraft ownership decisions.”

Chongjian reckons the more immediate drivers of demand in the US market are domestic political uncertainty tied to the Presidential election in November, as well as broader economic conditions reflected by inflation and interest rates.

There has been a gradual increase in inventory across most aircraft markets, which is impacting pricing strategies, Chongjian notes. The overall percentage of fleet for sale is still below 10%, which typically indicates a seller’s market, but there are signs of transition in some segments, he says.

“Older models with higher operating costs, for instance, are increasingly entering a buyer’s market due to reduced demand, and certain markets have already dived deep into the buyer’s market with nearly 18% of the fleet for sale,” he qualifies.

“The current interest rate at over 7% for aircraft financing is making aircraft ownership more expensive, especially for those models that are less fuel-efficient or come with higher maintenance costs.”

Read full article here

This article was originally published by AvBuyer on October 3, 2024.

TORONTO, Canada, September 19, 2024 – Aero Asset released its 2024 Half Year Heli Market Trends Twin-Engine edition. Aero Asset leverages proprietary market intelligence to deliver a comprehensive analysis of the market, allowing readers to navigate the shifting dynamics of the preowned twin-engine helicopter market.

“Our analysis shows a 30% year-over-year decrease in retail sales volume of preowned twin-engine helicopters in the first half of 2024, and a 26% increase in supply for sale,” said Valerie Pereira, Vice President of Market Research. Additionally, Pereira explained the absorption rate had increased to 18 months of supply at current trade levels.

Pricing

Despite the lower sales volume, average preowned trading prices have reached a five-year peak across all twin-engine asset classes, with the biggest average transaction price increases in the light (+21%) and medium twin-engine helicopter markets (+14%) year over year (YOY).

Weight Class Performance

Retail sales declined across all weight classes YOY. The medium twin market saw the biggest drop in retail sales (-46% YOY), followed by heavies (-25% YOY), and light twin-engine helicopters (-14% YOY). Supply for sale of light twin-engine helicopters reached one of its highest levels; conversely, medium and heavy twin market supply for sale reached their lowest point in five years.

Regions

In the first half of 2024, Europe was the only region to buck the trend and see an increase in preowned retail transactions (+5% YOY). Asia Pacific experienced the biggest regional drop in retail sales volume (-73% YOY). Supply in North America and Europe increased by 5% and 35% respectively YOY. These regions represented 62% of the total supply and accounted for two-thirds of total retail sales in the first half of 2024.

Liquidity

The best performing preowned twin-engine market during the first six months of 2024 was the Airbus EC/H145, followed by the Airbus EC/H135, and the Leonardo AW139. The slowest performing preowned twin markets were the Airbus EC/H155 and Sikorsky S76D markets, with absorption rates over three years.

Download 2024 Half Year Heli Market Trends Twin-Engine Edition

Heli Market Trends reports have become a trusted source of insight and analysis covering the global preowned helicopter market. Visit aeroasset.com/report to download the latest report with all its data and valuable analysis. This report includes a conversation with Sarah Fairweather, Partner and Head of Talent at Jaffa & Co.

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About Aero Asset Inc.

Aero Asset is an international helicopter trading and market intelligence firm, headquartered in Toronto, Canada. With a multicultural team and decades of experience marketing and selling aircraft across the globe, the company has grown into a world-leading helicopter sales and market intelligence firm.

Aero Asset is a member of the Helicopter Association International, the Association of Air Medical Services, the National Aircraft Finance Association, the European Helicopter Association, and the National Business Aviation Association.

For more information about the company, its inventory for sale, or its full scope of services and industry reports, please visit https://aeroasset.com.
 

Safe Harbor Statement

No representation, guarantee, or warranty is given as to the accuracy, completeness or likelihood of achievement or reasonableness of any statements made by or on behalf of Aero Asset. The information contained herein should not be construed as advice to purchase or sell aircraft. Neither Aero Asset nor its owners, directors, officers, employees, agents, independent contractors or other representatives shall be liable for any loss, expense or cost (including without limitation, any consequential or indirect loss) that you incur directly or indirectly as a result of or in connection with the use of data or statements contained herein or otherwise provided by Aero Asset.

This Press Release was originally published by Aero Asset on September 19, 2024.

With a career spanning nearly four decades in the aircraft financing industry, Bill Allen has proved himself to be a respected leader, innovator and mentor. Serving as the Vice President of USA Specialty Lending, a division of U.S. Alliance Federal Credit Union, Allen brings a wealth of knowledge, a commitment to excellence and a vision for the future of specialty lending to his role. 

A Serendipitous Start in Aircraft Financing 

Allen's career in aircraft financing began in 1984, but not in the way one might expect. After completing his MBA in Finance and Management, Allen applied for a marine financing position at Key Capital Corp/Key Financial Services Inc., a subsidiary of Key Bank. Growing up in Rhode Island with a family background in finance and a personal history of boating, including regular attendance at the America's Cup, Allen felt drawn to the marine industry. 

However, fate had different plans. The marine department didn't have any openings, but they passed his resume to the aircraft financing group. Despite knowing little about aircraft beyond his experiences as a passenger, Allen's curiosity and eagerness to learn led him to accept an interview and, ultimately, a position in aircraft financing. 

This unexpected turn of events began a long and successful career. Under the mentorship of several industry veterans, including Bert Sellier, who remains a close friend to this day at the age of 95, Allen quickly immersed himself in the intricacies of aircraft financing. He attended trade shows and industry conferences and spent countless hours learning from Sellier and other industry veterans. 

Building a Career and Expertise 

Throughout his career, Allen has held positions at various financial institutions, each role adding to his knowledge and industry connections. His time at Key Capital Corp/Key Financial Services Inc. laid the foundation for his understanding of the unique aspects of aircraft financing, from credit decisions to asset documentation and FAA regulations. 

Later in his career, Allen was recruited by the President and CEO of Commerce Bank and Trust Company in Massachusetts, which was later acquired by Berkshire Bank. Here, he had the opportunity to build a program from the ground up, starting with the important but often overlooked task of writing policies and procedures. This experience allowed him to shape the entire lending process, from underwriting to customer service, according to his vision of excellence. 

His extensive experience and industry reputation opened doors to many opportunities, leading him to search for the right fit for his career’s next chapter. This led him to his current role at USA Specialty Lending, where he found alignment with his values and vision for the industry. 

Leadership at USA Specialty Lending 

At USA Specialty Lending, Allen leads a team focused on specialty financing for aircraft, marine vessels, R.V.s and specialty automobiles. His leadership style is characterized by several key principles: 

1. Continuous Improvement: Allen consistently looks for ways to enhance processes, reduce friction and improve efficiency without compromising risk management. 

2. Attention to Detail: He emphasizes the importance of getting things right the first time, reducing errors and delays that could affect customer satisfaction. 

3. Team Development: Allen is passionate about mentoring his team members and encouraging their professional growth. He often sponsors their attendance at industry events like the National Aircraft Finance Association (NAFA) annual meetings and the National Business Aviation Association (NBAA) conferences. 

4. Customer-Centric Approach: Allen stresses the importance of providing an excellent experience for every customer. 

5. Relationship Building: Allen recognizes the value of strong relationships in the industry and encourages his team to build connections with brokers, manufacturers, attorneys and other industry professionals. 

Allen's vision for USA Specialty Lending goes beyond simply growing the business. He aims to create an environment where every interaction, whether with employees, indirect sources or customers, is a positive experience. This approach has led to high customer retention and many repeat clients, some of whom have followed Allen through his various positions in the industry. 

Involvement with NAFA and Industry Leadership 

Allen's involvement with the National Aircraft Finance Association (NAFA) has been a significant part of his career. He has served on the Board of Directors and is part of the Light Aircraft Roundtable. His long-standing relationship with NAFA has let him witness and contribute to the evolution of the aircraft financing industry. 

Allen values the networking opportunities and collaborative spirit that NAFA provides. He sees the annual meetings, cocktail parties and even recreational activities as important for building and maintaining relationships within the industry. These connections have proven invaluable throughout his career, leading to business opportunities and letting him stay at the forefront of industry trends and challenges. 

As a veteran in the field, Allen takes pride in mentoring younger professionals entering the aircraft financing industry. He often sponsors new members for NAFA, helping to ensure the organization's continued growth and vitality. 

A Unique Perspective on the Industry 

Allen's long tenure in the industry has given him a unique perspective on aircraft financing. He often remarks that it's a business where you can meet different people, from those involved directly in the aircraft transactions to the interesting clients he serves.  

He emphasizes the importance of understanding each client's unique needs and mission for their aircraft. Whether it's for personal use or business, Allen and his team work to tailor their financing solutions. This personalized approach, combined with competitive rates and products, has been key to Allen's success throughout his career. 

Community Involvement and Personal Passions 

Beyond his professional achievements, Allen is deeply committed to giving back to his community. This commitment aligns well with the credit union ethos at U.S. Alliance Federal Credit Union, which emphasizes community involvement and social responsibility. 

One of Allen's most significant personal achievements has been his participation in the Boston Marathon. He and his wife met while training for the marathon, running to raise funds for cancer research at the Dana-Farber Cancer Institute. Over the years, he has participated in five consecutive Boston Marathons for this cause, raising substantial funds for critical cancer research. 

Allen continues to be involved in various charitable activities. He and his wife regularly participate in and volunteer for events supporting causes such as ALS research and Alzheimer's awareness. These activities, including bike rides and local races, reflect Allen's commitment to physical fitness and community service. 

Allen's passion for outdoor activities extends beyond running. He enjoys mountain biking, hiking and skiing, demonstrating his love for staying active and enjoying nature. These pursuits balance his professional life and contribute to his overall approach to leadership, emphasizing the importance of work-life balance for himself and his team. 

Looking to the Future 

As he looks to the future, Allen remains passionate about the aircraft financing industry and is focused on taking his business to new heights. He constantly thinks about strategic ways to grow and develop the business, always with an eye toward improving customer experience and operational efficiency. 

At the core of Allen's vision is a commitment to continuous improvement and reducing friction in operations. He emphasizes the importance of collaboration across all levels of the organization, moving away from a traditional top-down approach to decision-making. Allen believes valuable insights and ideas can come from anyone on the team, particularly those on the front lines who interact directly with members and partners. 

Allen encourages his team to identify areas for improvement, whether it's streamlining processes, enhancing efficiency or simplifying procedures. He sees potential for innovation in everyday tasks, such as refining checklists to make them more concise and practical based on the client and transaction. This approach aims to create a more agile and responsive organization that can better serve its members. 

By fostering an environment where all team members feel empowered to contribute ideas, Allen hopes to tap into his entire staff's collective knowledge and experience. Allen's vision reflects a modern, collaborative leadership style that values input from all levels of the organization in pursuit of excellence in credit union services. 

A Legacy of Excellence 

From an unexpected entry into the industry to becoming a respected leader at USA Specialty Lending, Bill Allen embodies the spirit of continuous growth and adaptation. His vision for his team’s future is not just about financial transactions but about fostering a collaborative environment where innovation can thrive at every level. 

Allen’s career in aircraft financing is a testament to the power of adaptability, relationship-building and continuous learning. His approach to business, emphasizing personal relationships and operational excellence, has led to his success and contributed to the growth and development of many professionals in the field. Through his mentorship, industry leadership and vision for the future, Allen continues to shape the aircraft financing landscape. 

As he looks forward, Allen carries with him the wisdom of nearly four decades in the industry, the energy of a marathon runner and the curiosity of a perpetual learner. His leadership at USA Specialty Lending is not just shaping the future of one credit union but potentially influencing the broader landscape of aircraft financing. In Bill Allen, we see a leader who understands that the sky is not the limit but the starting point for those who dare to soar in both their professional and personal endeavors. 

This blog was originally published by NAFA on July 12, 2024.

FOR IMMEDIATE RELEASE: July 11, 2024 

Contact: Tracey Cheek 
tlc@nafa.aero  
405-285-7005

Scott Oshman 
info@oshmanaviation.com 
817-661-0234  

NAFA Welcomes New Member: Oshman Aviation 

Edgewater, MD –July 11, 2024—The National Aircraft Finance Association (NAFA) is pleased to announce that Oshman Aviation has recently joined its network of aviation professionals. Oshman Aviation is an IADA-accredited aircraft dealer that provides aircraft sales, management and consulting services. 

“NAFA members proudly finance, support or enable the financing of general and business aviation aircraft throughout the world, and we are happy to add Oshman Aviation to our association,” said Ed Medici, President of NAFA. 

About Oshman Aviation:
Established in 2017 and based in Fort Worth, Texas, Oshman Aviation is an IADA accredited aircraft dealer providing aircraft sales, management, and consulting services. The company specializes in business jets and turboprops, focusing on Beechcraft King Air and Cessna Citation models. Operating as an inventorying dealer, Oshman Aviation acquires and sells aircraft from its inventory while offering global brokerage services to its clientele.

“Oshman Aviation is proud to join NAFA as the industry-leading association for aircraft finance,” said Scott Oshman, Oshman Aviation’s President. “We look forward to partnering with NAFA members and are committed to providing current market data to NAFA members and their clients, facilitating informed decision-making in aircraft transactions.” 

When purchasing or selling an aircraft, assembling a team of trusted and experienced professionals is important for ensuring a smooth and successful transaction. This team should be vetted to ensure the highest ethical standards and levels of experience. Oshman Aviation is dedicated to providing its clients and partners with ethical, comprehensive and value-based services. 

To learn more, visit oshmanaviation.com. 

About NAFA:  
The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for over 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences, and industry insights allow member companies to provide the highest quality services the industry has to offer.