- Nextant Finance will focus on underserved $2-10 million market segment, in the US and internationally
- Flexibility will be a key success factor with a range of lease and loan options
- Specific products for commercial fleet operators with strong demonstrated cash flow
GENEVA, SWITZERLAND, May 19, 2014 – Nextant Aerospace (“Nextant”), maker of the Nextant 400XTi – the world’s only remanufactured business jet – and the forthcoming G90XT turboprop, today announced the launch of Nextant Finance which will focus on the underserved $2 million to $10 million segment of the market.
Over the past five years, aircraft financing has been complicated and uncertain. Banks have jumped in and out of the market based on their specific appetites for asset classes. There has been a general lack of available financing for deals under $10 million and those outside of the US and Europe.
Nextant Finance was created to meet the needs of this underserved market. Their lending solutions provide customers with a focused, independent platform to match their objectives with practical solutions.
“We will offer financing for both the Nextant 400XTi and G90XT in the US and throughout the world,” said Barry Woods, Chairman & CEO of Nextant Finance. “Since the start of the recession, it has been very difficult for owners and operators of light jets and turboprops to find financing, leaving a significant and unnecessary void in the market. Our straightforward yet creative financing vehicles are ideal for those who have struggled to find financing in the US and throughout the world.” Nextant Finance terms range from 2 to 20 years. Lease types include capital leases, operating leases and tax leases. Loan types include fixed or floating rates with fully amortizing or balloon payments. In the US, Nextant Finance can also facilitate 1031 exchanges to defer capital gains or losses.
“We are excited to provide our customers with a dedicated and experienced team to source the right financial solution,” said Nextant President Sean McGeough. “This will allow more customers around the world to realize the vast benefits of Nextant remanufactured aircraft to their businesses. Nextant Finance is ideal for commercial fleet operators who have strong cash flows but lack the kind of balance sheet many banks require.”
Nextant’s pioneering process for remanufacturing business jets is now recognized as an established technical and commercial success worldwide with significant sales in every major operator category and class-leading levels of comfort, performance, and reliability at a purchase price half that of comparable aircraft. The revolutionary 400XTi light jet features Williams FJ44-3AP engines and the Rockwell Collins Pro Line 21™ integrated flight deck. The same winning combination of the latest technology in remanufactured airframes is expected to repeat this success with the G90XT turboprop powered by next-generation GE H75 engines and an enhanced Garmin G1000 integrated flight deck. Founded in 2007, Nextant is a Directional Aviation Capital company based in Cleveland, Ohio. For more information, like us on Facebook, follow us on Twitter @nextantaero or join us on LinkedIn.
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