Simon Spells’ Post

NAFA member, CFS Jets, discusses what questions to ask prior to signing your aircraft lease. #NAFA #AviationNews #AviationLovers #Aviation #BusinessAviation #PrivateAviation

Following on from our recent appointment as Managing Agent to AASET 2024-1, check out our latest blog post - The Return of Aviation ABS Transactions: Phoenix American At The Center. #aviation #ABS #aviationfinance

Another small aviation company goes bust. Chrono Aviation Inc. et al. (the “Chrono Group”), a group of Québec City-headquartered companies which operate a charter airline, obtained CCAA protection on October 18 listing $74.2 million in liabilities, including $18.7 million to National Bank. The companies mainly serve customers in isolated communities in the Far North of Québec, Nunavut and other parts of the Arctic. They also provide aircraft maintenance and airport services, with bases at MET – Montreal Metropolitan Airport, Québec City Jean Lesage International Airport and Rimouski Aérodrome. The Chrono Group employs over 330 people (270 of them on a full-time basis), including pilots, flight attendants, mechanics and others. The companies’ financial situation has deteriorated due to a series of challenges, including the negative impacts of COVID-19, increased aircraft maintenance costs, and the negative impacts of a $21 million lawsuit brought by Nolinor Investments. The Chrono Group has been attempting to address these issues for the past couple of years, including by running three sales processes while at the same time pursuing a restructuring. The purpose of the CCAA proceedings is to effect an RVO transaction pursuant to which Aviation Starlink will become a major business partner of the companies, allowing for the continued operation of the Chrono Group. Deloitte is the monitor. Counsel is Osler for the Chrono Group, Norton Rose Fulbright for the monitor, McCarthy Tétrault for National Bank, Davies for LBC Capital, BLG for BDC, Langlois for Q-12 Capital, Stein Monast for IQ, Woods for AvJet Holding et al., Daigle & Matte for Gestion J Rouleau Gagnon et al., and Robinson Sheppard Shapiro and AVENS for Nolinor Investments.

Do you lease a "large" aircraft? If so, have you complied with FAR 91.23 - Truth in Leasing ("TIL")? If not, or if you have TIL questions, please read my latest article on the topic here:

Leases are a popular option for aircraft operators, providing flexible access to a platform without the need for large capital investments. But what are the big questions would-be lessees should ask before signing on the dotted line? Gerrard Cowan finds out. #NAFA #AviationNews #AviationLovers #Aviation #BusinessAviation #PrivateAviation

🛫 The sky is the limit for the aircraft leasing industry according to recent assessments by S&P and Moody’s. At the core of this positivity is the industry’s resilience in the face of unexpected and unprecedented challenges. The article explores the latest trends and the strategic moves that are shaping the future of aircraft leasing.    Read in full here - https://lnkd.in/eV-NNQ26   #MindsMadeForFS #AircraftLeasing #AviationIndustry

🛫 The sky is the limit for the aircraft leasing industry according to recent assessments by S&P and Moody’s. At the core of this positivity is the industry’s resilience in the face of unexpected and unprecedented challenges. The article explores the latest trends and the strategic moves that are shaping the future of aircraft leasing. Read in full here - https://lnkd.in/eV-NNQ26

Good read

If an engine upgrade makes sense for your aircraft, you don’t necessarily have to foot the bill up-front. Gerrard Cowan speaks to a selection of industry experts to find out when financing engine upgrades makes the most sense... Edwin Black, Blackhawk Aerospace: “The demand is strong because everyone wants to go faster. We are seeing more demand now than we ever have in Blackhawk's 25-year history and it’s because of the convenience of flying private vs commercial, especially when you are flying for your business.” Geoffrey Corbeil, Pratt & Whitney Canada: “As aircraft age, which is the case of all aircraft that go through an upgrade, the proportion of the aircraft value that’s assigned to engines grows with time, so that’s one more reason to do it.” Chris L., 1st Source Bank: These types of upgrade tend to be financed by institutions that understand the collateral and the details of the process well, “so it may be a product not offered by your current lender – I’d recommend reaching out to your finance provider early in the process to get pre-approved.” Brian Macbean, AOPA France: “…lenders will use the post-overhaul/upgrade value of the aircraft to determine how much financing is available. In most cases, lenders will finance up to 85% of that value, or 85% of the value being added to the aircraft.” Preston Holland, FLYING Finance: “For some owners, in addition to engine upgrades or overhauls, areas like interior modifications and avionics may also be candidates for traditional forms of financing.” Read the full article on AvBuyer to expand on these pointers and others: https://lnkd.in/eUSkhjj3 #aircraftengines #aircraftupgrades #aircraftfinancing #aircraftfinance #engineupgrades #turboprops #businessaviation #businessaircraft #privateaviation #privateaircraft #generalaviation William Shroll Matthew Harris Malay Tripathi Tristan Brouard ACC Aviation Zach Ungerleider Honeywell

Good to speak to the Business Post for today's section on aviation and leasing. Lessors (particularly large ones with order books and/or assets coming off lease) are in a really good place in this market. Ps - I swear I was smiling in some of the other pics... #aircraftleasing #aviationfinance