Waco, Texas, January 30, 2014 — FreeFlight Systems announced today it is supplying its avionics systems in partnership with NextGen Equipage Fund, LLC’s financing program to enable affordable and practical ADS-B and other mandated avionics retrofits for as many as 200,000 light general aviation aircraft.
The NextGen Fund’s innovative, $1.5 billion public-private partnership program makes it practical for owners and operators of light GA aircraft to realize the economic, environmental and safety benefits of ADS-B equipage required by the FAA by Jan. 1, 2020. The program combines financing at competitive rates backed by loan guarantees and with proven credit management practices that reduce cost and other barriers to retrofitting the light GA fleet.
The FreeFlight Systems range of high-performance, American-made, FAA-certified avionics are specifically designed for retrofit installation in air transport, Part 25 and 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 Fund’s financing program. This will enable GA aircraft owners and operators to equip for NextGen without large upfront costs. Loan payments would be deferred until specific NextGen services are delivered to the aircraft operators by the FAA.
“It is vital for the future growth and continued U.S. leadership in GA and air traffic management to encourage widespread use of NextGen technologies,” said Tim Taylor, CEO of FreeFlight Systems. “FreeFlight Systems applauds the farsighted and eminently sensible solution that the NextGen Equipage Fund is delivering through its public-private financing program. It is closely aligned with our long-standing commitment to make ADS-B and other NextGen avionics upgrades practical and affordable for all aircraft from airlines to light general aviation.”
About the NextGen Equipage Fund, LLC The NextGen Equipage Fund, LLC is managed by the NEXA General Partnership and Management Company. This Fund was formed by NEXA Capital Partners, LLC who provide specialized transaction-focused services including business advisory, capital planning, corporate finance, and investment banking, for the aerospace sector. NEXA Capital develops strategies supporting direct investments in promising companies with partner institutional investors and corporations. With offices in Washington DC, NEXA also works closely with government and industry organizations that drive regulatory requirements so important for the aerospace and airline sectors. About FreeFlight Systems FreeFlight Systems designs and manufactures high-performance avionics for flight safety and for delivering substantial safety, cost, environmental and other benefits from the NextGen airspace transformation. Founded in 2001 and based in Texas, the company pioneered the first certified aviation WAAS GPS receiver and the first rule-compliant UAT ADS-B system. FreeFlight Systems produces a range of high quality, American-made, competitively priced systems for installation in all aircraft types. For more information, please visit www.freeflightsystems.com
