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NBAA: Global Jet Capital promotes end-of-lease remarketing programme

Global Jet Capital – the business aviation financing house headed by former Hawker Beechcraft boss Shawn Vick – is at NBAA to promote its new programme, redeploying its end-of-lease aircraft.

Rather than simply divesting the equipment, the compan says it is “investing time and money” to refresh exteriors and cabins, before contracting with a management company to offer the aircraft for charter.

“The idea is that this way we expose it to the industry. The whole idea is to sell that aircraft on within six months or enter into a new operating lease with a client,” says Ben Murray, senior managing director of asset management.

Global Jet Capital is exhibiting a Lineage 1000 on the static, alongside Comlux Aviation, which is managing the 2010 vintage aircraft. “We had its lease come to an end this summer with a Mexican client who had had it from new, and we decided to upgrade the aesthetics,” says Murray. “We surveyed a number of management companies and selected Comlux who will put the Lineage on their AOC [air operators certificate]. It is available for charter but also available to take on a lease, with Comlux managing the aircraft.”

Global Jet Capital has three other aircraft on its books under similar arrangements: a 2000-model Gulfstream GV, a 1997 Cessna Citation X, and a Hawker 400XP dating from 2007.

According to Vick, initiatives such as this distinguish Global Jet Capital from institutions that specialise simply in funding aircraft acquisitions. “We have invested in the kind of technical and management expertise which is a different strategy to that of a bank,” he says.

Global Jet Capital has about 300 aircraft on its books, valued at roughly $2.5 billion. The company was set up in 2014 when it took over a portfolio owned by General Electric, and employs 70 people.

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