Avionics Makers Partner With NextGen Fund to Help Finance GA Modernization
Aspen Avionics and FreeFlight Systems have announced partnerships with the $1.5 billion NextGen Equipage Fundís financing program to help general aviation aircraft owners obtain inexpensive financing to meet the ADS-B and other mandated avionics retrofits. With over 150,000 aircraft affected, the NextGen Fund will provide financing at competitive rates backed by loan guarantees and will use proven credit management practices that reduce cost and other barriers to retrofitting the general aviation fleet.
Aspen Avionics said that its Memorandum of Understanding with the NextGen Fund provides the framework for Aspen and the NextGen GA Fund to work together to promote the rollout of NextGen to the general aviation community. Together, Aspen and the Fund will help aircraft owners acquire affordable, innovative avionics solutions through attractive financial incentives. FreeFlight Systems said that its high-performance, American-made, FAA-certified avionics are designed for retrofit in general aviation aircraft to meet ADS-B and other NextGen equipage requirements worldwide. FreeFlight Systems is making its avionics available for purchase under the NextGen Equipage Fundís financing program. This will enable general aviation owners to equip for NextGen without large upfront costs. Loan payments would be deferred until specific NexGen services are delivered to the aircraft operators by the FAA.