GA Loan Market Opening Up
AirFleet Capital says it marked a significant milestone in its business that bodes well for the future of GA. The lender, which only operates in the GA market, wrote its 5,000th aircraft loan in June. The company has been in business for 20 years so it's averaging 250 loans a year covering the GA gamut from turbine business aircraft to light singles and experimentals, and demand is steady. "This milestone speaks to a long-term resilience in the GA market and, nearer term, the strengthening market and rebounding bank appetite for GA loans," the company said in a news release.
Steve Smestad, founder and CEO of the company, said because the company deals only in GA and all its staff are involved in GA AirFleet Capital has a unique window on the GA world. "They note that an increase in retail demand is well matched with bank appetites that continue to rebound," he said.