Machinery finance specialist Hitachi Capital has claimed top spot in supplying mortgages to the UK general aviation aircraft market so far this year.

Hitachi Capital acquired Industrial Equipment Finance from Skipton Building Society early this year to extend its finance portfolio into general aviation. Figures from the UK CAA show the company has written 59 new small aircraft mortgages so far this year, beating each of the previous market leaders, Air & General and Lombard Aviation Capital, says Brendan Lodge, aviation business development manager.

Lodge says the company, owned by Japanese conglomerate Hitachi, decided to concentrate on smaller aircraft, unlike its competitors, and this was behind its success. “We’re targeting private individuals and small businesses,” he adds.

Lodge says the GA market is less buoyant than last year, when the weak US dollar persuaded many people to buy second-hand aircraft from US suppliers.

He points out that many private individuals do not consider specialist financing as an option for buying a GA aircraft, often choosing traditional mortgage houses and banks.

Source: Flight International