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  • NAFA Administrator posted an article
    3 Aircraft Finance Application Mistakes to Avoid see more

    Business jet owners can access a range of financing options when acquiring or upgrading aircraft. However, errors and oversights could undermine their efforts to secure funding, as shared by some of the aircraft finance industry’s leading experts.

    While aircraft obviously have their own specific needs and challenges, applying for an aircraft loan isn’t so different from other types of loans, says aviation analyst Brian Foley.

    “Inaccurate financial information, asking for too much or too little money, lacking collateral, an inadequate credit rating, not revealing past red flags, and not securing expert assistance could all result in an undesirable outcome,” he warns.

    1) Aircraft Finance Mistakes: Failing to Provide Information

    Aircraft-related information is usually not a major stumbling block for a transaction, but providing a certain amount of information up front can result in a faster process, according to Robert Gates, head of international sales at Global Jet Capital.

    “With a Manufacturer Serial Number (MSN), Global Jet Capital can quickly learn a lot about the aircraft during initial review,” he illustrates. “However, a detailed aircraft spec sheet is good practice at the time of a financing inquiry.”

    Providing information up front will expedite an aircraft review, says Gates. It’s important in a range of areas, including configuration, maintenance status and damage history.

    “Applicants should also provide information relating to the desired use patterns for the aircraft post-acquisition,” he adds. “What are the typical missions? How many hours per year do you expect to fly? Who will manage the aircraft? Where will it be based, and will it be hangered? This supplementary information is useful to the financier and will help fill out the application file.”

    Applying for aircraft finance can feel like an onerous process, but it’s important to take the time to ensure it’s done correctly. Gerrard Cowan speaks to industry experts about some of the common applicant errors to avoid.

    Read full article here

    This article was originally published by AvBuyer on September 7, 2023.

     September 20, 2023
  • NAFA Administrator posted an article
    AINsight: Which Aircraft Brokers Rise Above the Field? see more

    NAFA member, David G. Mayer, Partner at Shackelford, Bowen, McKinley & Norton, explains why finding the right fit when it comes to aircraft brokers can ease buying or selling a used business aircraft.  

    Private aircraft are time machines—speeding travel from place to place in privacy, security, and comfort. Individual and corporate owners may differ in the reasons they use, sell, or buy private aircraft, but virtually all of them find that a buy-sell transaction is complex and challenging.

    A top-flight aircraft broker appreciates these dynamics and guides a seller or a purchaser (client) through a purchase or sale transaction as a member of a team of experienced industry professionals.

    The right broker for the client and the transaction can facilitate a smooth process. Conversely, an unsuitable aircraft broker can generate frustration, recrimination, delay, and less-than-favorable terms and economics. Thus, clients should make a strong effort to choose the right broker.

    Read full article here

    This article was originally published by AINsight on September 8, 2023.

     September 18, 2023
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: Thunderbird Airways see more

    FOR IMMEDIATE RELEASE:  September 5, 2023                                    

    Contact: Tracey Cheek  

    Steve Hofmann 


    NAFA Welcomes New Member: Thunderbird Airways 

    National Aircraft Finance Association (NAFA) is pleased to announce that Thunderbird Airways has recently joined its network of aviation professionals. Thunderbird Airways is an experienced, on-demand private jet charter operator and aircraft management company. 

    “NAFA members proudly finance, support or enable the financing of general and business aviation aircraft worldwide. We extend a warm welcome to Thunderbird Airways and support their services to further NAFA members in the aviation business,” said Ed Medici, NAFA President.  

    About Thunderbird Airways: 

    Thunderbird Airways provides on-demand charter flights anywhere in the continental U.S. Thunderbird also offers a full-service aircraft management program for corporate and personal aircraft, enabling aircraft owners’ peace of mind that their plane is cared for and maintains its airworthiness.   

    With a legacy in the private aviation sector, Thunderbird Airways connects people and destinations by putting the personal well-being of their passengers and crew first. Over decades, Thunderbird has earned the trust of a lasting customer base that transcends industries.  

    Thunderbird services include: 

    • Charter operator
    • Aircraft management 
    • Aircraft sales and acquisitions   

    Steve Hofmann, President of Thunderbird Airways and its parent company, E.N.G. Aviation, is an entrepreneur at heart. Steve's aim is to unite his passions for people, planes and technology to create a simpler, more seamless charter and aircraft ownership experience. His vision is to create an atmosphere of inspiration and comfort that makes the journey part of the destination.  

    Before joining Thunderbird Airways, Steve spent almost a decade pursuing his passion for innovation in the technology sector and is proud to have served in the United States Marine Corps. Steve's life-long love of aviation extends into his personal life as well. He is a multi-engine and instrument-rated private pilot with plans to achieve his first type-rating in 2023.  

    For more information, visit


    About NAFA:    

    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer.

     September 05, 2023
  • NAFA Administrator posted an article
    How to Avoid Disputes from Pre-Purchase Inspections see more

    What are the potential problem areas that arise from Pre-Purchase Inspections for buyers and sellers of pre-owned aircraft, and how can these be avoided? Gerrard Cowan asks a panel of industry experts...

    A Pre-Purchase Inspection (PPI) is a vital part of an aircraft acquisition, with an appraiser reviewing the aircraft to ensure there are no potential issues. However, it can be a complex process, particularly when problems are raised in areas that may not have been clearly defined.

    With that in mind, how can buyers and sellers strengthen their hand when it comes to PPI negotiations?

    NAFA member, George Kleros is Senior Vice President of Jet Support Services, Inc (JSSI) Advisory Services, which provides consulting and expertise on a range of areas from finance to maintenance. According to Kleros, the most prevalent disputes arise ahead of the PPI, when determining the level of survey to perform, as this can increase exposure for the seller.

    In general, PPIs fall into one of three categories, he shares, depending on the complexity of the inspection. Level 1 covers a basic records review, ground operational functional checks of the systems in the aircraft, and exterior/interior visual checks.

    Level 2 includes a detailed records review, opening and inspecting panels, as well as certain areas of the aircraft that are at higher risk of corrosion or water damage. Level 3 is the most thorough inspection.

    But how can problems be resolved after the inspection is completed? This is usually defined in the Aircraft Purchase Agreement (APA), Kleros says.

    Read full article here

    This article was originally published by AvBuyer on August 28, 2023.


     September 05, 2023
  • NAFA Administrator posted an article
    Big Costs to Factor Beyond a Jet's Asking Price see more

    Buyers of pre-owned business jets face a range of costs beyond the ask price, some of which might be unexpected. What costs do they need to account for, and how can they avoid any nasty surprises? Gerrard Cowan asks the experts...

    First-time buyers can often be ‘a little surprised’ by the high costs of ownership, which go well beyond the initial purchase price, says aviation analyst Brian Foley. The costs of hangaring, maintaining, insuring and crewing their newly acquired aircraft can amount to millions of dollars annually.

    Indeed, there have likely been numerous one-time, after- purchase discoveries for those who bought without a Pre-Purchase Inspection, he says, “which could easily cost as much as the airplane did to get airworthy again. Some of these buyers have already cut their losses and returned to their Economy Plus airline seat or charter.”

    You Can Remove the Unpredictable Aircraft Maintenance Costs

    Aircraft maintenance is a Pandora’s Box, according to David Caporali, Senior Vice President, Business Development for the Americas at Jet Support Services, Inc (JSSI), a National Aircraft Finance Association (NAFA) member.

    Such maintenance costs take many buyers by surprise, he says, and this needs to be a vital consideration in the aircraft selection process. Indeed, it can be one of the largest variable costs in aircraft ownership, including all parts and labour, and can account for up to 35% of the aircraft’s operating budget.

    “Outside of certain scheduled inspections and replacement items (that can be tracked through maintenance software) there is no way to anticipate when a part will break, making maintenance very difficult to budget for,’’ Caporali elaborates.

    “‘Scope creep’ is common during any aircraft inspection, as additional squawks are often found. We have seen many work orders double or even triple the initial expected cost of a certain inspection.”

    Read full article here

    This article was originally published by AvBuyer on July 5, 2023.

     September 05, 2023
  • NAFA Administrator posted an article
    Providing Options to Traditional Lending: An Introduction to Asset-Based Jet Financing see more

    Former NAFA president Chris Miller recently joined Jet Support Services Inc. (JSSI) to launch and lead newly formed JSSI Aviation Capital. Mr. Miller brings 25 years of experience working in the aviation industry to the team. In this feature, Mr. Miller sheds light on how traditional lending has evolved, and the different options that are available to better serve clients such as financing as a partnership with the borrower. Additionally, NAFA Board Member Megha Bhatia, Chief Strategy and Marketing Officer at JSSI and former Rolls-Royce executive, details how financing as a partnership creates value for the borrower.

     “With traditional lending, the loan application process is a critical step for a financial institution to assess the credit worthiness of a client and requires credit checks and audited financials. This enables favorable rates but can take time, as the loan is executed against the credit profile of an individual or organization. Additionally, most banks are less likely to participate in loans for aircraft over ~15 years.

    The surge in new entrants to our industry over the last few years filled up demand for OEM deliveries and consequently pre-owned aircraft, leading to record low inventory levels and an increased interest in older planes. While we are seeing these trends normalizing, and OEMs increasing production rates to match demand – options to the traditional lending process have developed as a response to the need for speed and ease throughout the financing process, especially for mid-to-older vintage jets.

    Specialty asset-based lenders are able to underwrite an aircraft as a whole, providing more flexible financing structures. Since a credit application isn’t required, this is especially helpful for applicants who may not meet the investment profile of traditional lending. The loan is structured differently, against the asset value instead of the credit profile of the owner; this forms a synergistic partnership between the Lessor and Lessee to maintain or even enhance the residual value of the aircraft.”

    NAFA Board Member Megha Bhatia, Chief Strategy and Marketing Officer at JSSI, further explains how such partnership can create additional value for the borrower.

    “The aircraft ownership journey is standardized, regardless of organization or operation type: from aircraft selection, inspection, and appraisal, to financing, maintenance, and eventually re-sale or disassembly. It is helpful for a new owner to consider each of these steps early in the process, and the value of organizations that specialize in and assist with each.

    The Lessor often plays a big role in setting requirements and making recommendations, to maximize the investment on both sides. Performing asset-based lending requires deep aircraft valuation expertise. Such lenders are incentivized to maximize the value of the asset throughout and beyond the loan term, inspiring great thought leadership throughout the process, especially for a new owner entering the industry for the first time.”

    By Chris Miller, Managing Partner, JSSI Aviation Capital and Megha Bhatia, Chief Strategy Officer & Chief Marketing Officer, JSSI

     August 15, 2023
  • NAFA Administrator posted an article
    Financing a Jet for Charter Ops: What to Expect see more

    Many business jet owners plan to hire out their aircraft to help offset operating costs, but how could this impact their plans for financing? AvBuyer's Gerrard Cowan speaks to the experts to learn more.  

    Aircraft are not cheap. They cost a lot of money even when they’re not in use, notes Roman Pavlicek, Chief Financial Officer of Czech Republic-based ABS Jets, which offers a wide range of aircraft management and chartering services to clients in Europe and beyond.

    “There are always fixed costs to be paid whether the aircraft is in active operation or not. These include costs such as basic maintenance, crew payroll, training, insurance, parking, various systems subscriptions, and more,” he says.

    The chartering decision is based partly on the aircraft owner’s personal plans (how often they expect to use the aircraft themselves for leisure or business purposes, and if this could conflict with chartering plans and terms), and whether they’re happy for other people to use their aircraft given the potential for additional wear-and-tear.

    There are also technical questions to consider, Pavlicek adds, such as the aircraft age and flight hours, the aircraft’s operational reliability, maintenance demands, and so on. “All of this could lead to higher or lower chartering intentions,” he says.

    In general, the finance provider will mainly focus on safe cashflow related to the aircraft, Pavlicek adds. It is up to the individual user to establish if they need to finance the aircraft

    Read full article here

    This article was originally published by AvBuyer on July 17, 2023.

     August 14, 2023
  • NAFA Administrator posted an article
    How Many Ways Are There to Set Up Financing For a Co-Ownership see more

    NAFA member, Adam Meredith, President of AOPA Aviation Finance Company, answers your aircraft financing questions about co-ownership.

    Question: I’m in the process of forming a co-ownership divided into 4 shares. I have everything planned out but the financing part. I’m not sure if financing can be done under the LLC and bill each partner a monthly loan payment 4 ways? I’m wanting to find a simple way that will be attractive and easier for the other co-owners. How many ways are there to set up financing for a co-ownership? What is the best way? Can the whole aircraft be financed under the LLC and loan payments split 4 ways to each co-owner?  

    Answer: As a broker, we have many different lenders to consider for aircraft financing. With partnerships, many lenders have a limit on the number of partners they will allow to be involved.  Four partners is often the maximum lenders will allow. Lenders will require that each of the partners qualify for and provide their personal guarantees on the loan. The loan will not be divided between the partners, so each partner would need to qualify as if they were the only one buying the airplane. This method provides assurance to the lender that any one of the partners could continue to service the debt if one or more of the other partners is unable to. Lenders will not divide the loan payment between the partners, so the decision of who pays how much is up to the partnership.  It is common for partners to create an ownership entity, such as an LLC, for the purposes of the loan and aircraft ownership. It is also common for partnerships to create a new bank account for the partnership to handle any financial transaction associated with the airplane or the loan. Because each partner will personally guarantee the loan, any change in partners would require the loan to be refinanced.

    This article was originally published by AOPA Aviation Finance Company on May 1, 2023.

  • NAFA Administrator posted an article
    Aircraft & Jet Appraisals: An Introductory Guide see more

    When purchasing an aircraft, you want to be sure you’re getting a fair or current market price. You’d also like to be confident that the seller is being candid about their valuation; you don’t want to find out after the fact that you could have paid far less than the aircraft was worth.  NAFA member H. Lee Rohde III, President and CEO of Essex Aviation, explains.

    In the private aircraft acquisitions market, aircraft appraisers can assist with the validation on a seller’s or broker’s asking price, providing appraisals based on pricing guide analysis and guidance from the Professional Aircraft Appraisal Organization (PAAO). It’s their job to determine the fair market value of an aircraft for brokers and owners alike, ensuring transparency during the sales process.

    What Is an Aircraft Appraisal?

    An aircraft appraisal is an impartial assessment of an aircraft’s current market value, as determined through a valuation process conducted by a certified appraiser. A majority of aircraft appraisers are accredited by the American Society of Appraisers (ASA) and trained to evaluate all the elements that may affect an aircraft’s value. Following consultation with an appraiser, the seller can then generate a fair and accurate retail price.

    Read full article here

    This article was originally published by Essex Aviation on June 26, 2023.


  • NAFA Administrator posted an article
    Webinar: How to Navigate the Aviation Market - What First-Time Purchasers and Sellers Need to Know see more

    Recently, NAFA Member David G. Mayer, Partner with Shackelford, Bowen, McKinley & Norton, LLP, presented a webinar titled How to Navigate the Aviation Market - What First-Time Purchasers and Sellers Need to Know.  It was sponsored by Aeromarine Tax Professionals and well-attended. 

    This information provides a useful tool for aviation purchasers, sellers, lessors, financiers, lawyers, tax and other professionals, brokers, wealth managers and OEMs (primarily your clients), aircraft managers, and others involved or interested in purchasing or selling business aircraft.

    Depending on your experience level, you should take away a foundational, enhanced, or refreshed understanding of the process, the issues, and the roles of the team needed to complete these deals.

    Watch the webinar here

    This webinar was originally published by Shackelford, Bowen, McKinley & Norton, LLP on May 2, 2023.

  • NAFA Administrator posted an article
    Aircraft Finance Losing Altitude in Bank Crisis see more

    NAFA member, David G. Mayer, Partner with Shackelford, Bowen, McKinley & Norton, LLP, discusses recent bank casualties, tightening credit standards, and market volatility when financing private aircraft.

    The global banking crisis may have subsided for money-center banks, but aircraft financiers have not emerged unscathed or free of the turbulence plaguing other U.S. banks.

    The current banking crisis started with the collapse of Silicon Valley Bank on March 10, Signature Bank on March 12, the takeover by UBS of Credit Suisse on March 19, and the FDIC takeover of First Republic Bank and sale of its deposits to JPMorgan on May 1. These closed banks, except Signature, actively made private aircraft loans, as do UBS and JPMorgan today.

    It is a credit to private aircraft lenders and lessors that have not limited or exited their aircraft lending or leasing businesses amid volatility in banking, including frequently reported deposit outflows from, and credit tightening by, U.S. local and regional banks.

    The bank crisis may not materially alter the financier’s pre-crisis credit approval process. However, financiers may reluctantly spool down aircraft financing for reasons such as reduced liquidity, increased regulatory capital, intensified risk management, higher cost of funds, and wider risk-adjusted interest rate spreads. 

    Read full article here.

    This article was originally published by AINsight on May 12, 2023.

  • NAFA Administrator posted an article
    Why Must Silent (Non-Flying) Partners Also Submit Financial Documentation? see more

    Why would a partner in an airplane-buying partnership have to submit financial documents if that person is a silent (i.e., non-flying) partner?  NAFA member, Adam Meredith, President of AOPA Aviation Finance Company answers.

    Just as business partners will draft a mutually beneficial partnership agreement, which all parties agree to, lenders require all parties to agree to the terms of the loan contract.  In most cases, agreeing to the loan contract means that you qualify to obtain the loan and service the debt according to the lender’s terms.  Aircraft lenders use the aircraft as collateral for the loan, and any individual or entity in the chain of aircraft ownership is required to provide a guaranty on the loan.  The best way to ensure the loan remains in good standing is to verify that all parties qualify for the loan.

    Qualifying for an aircraft loan requires verification of your financial condition and complete underwriting by the lender.  Financial documents such as tax returns, bank statements, and any associated business financials are required for the lender to complete underwriting.  Most lenders require that each individual partner qualifies on their own for the full loan amount.  With each partner capable of handling the loan individually, a financial or other personal hardship for one partner is unlikely to put the loan in jeopardy.  Additionally, having each partner’s information on file makes it easier for the lender to communicate with each partner when necessary.

    Read full article here.

    This article was originally published by AOPA Finance on February 2, 2023.


  • NAFA Administrator posted an article
    Trending Toward Older Aircraft: What You Need to Know and Consider Before Purchasing see more

    The private aviation industry is constantly evolving with changes in demand, technology and market trends shaping the industry. One such trend observed in recent years is the increased interest of owners and operators to increase the lifespan of an aircraft. 

    The average life expectancy of an aircraft is between 25 to 30 years, but in today's market, where supply is low, and demand is high, people are continuing to fly their aircraft for five to ten years further. In the past, the market may have had three to four owners in an aircraft's lifetime, but now it is seeing potential for five to six. As a result, people have been shifting away from new aircraft due to lack of availability and considering more mid to late-term planes. 

    Current Market Trends 

    In a typical market, if 8 to 10% of the available operating fleet is for sale on the market, the market is in a supply/demand equilibrium. If that figure exceeds 10%, aircraft prices will see downward pressure and faster market depreciation. Over the past two years, aircraft pricing has increased across the board due to low supply.  

    Peak demand post-COVID-19 saw about 2.5% of the operating business jet fleet available for sale. Since COVID-19, the prices and demand for aircraft have remained high. With fewer options, people push more life out of their plane, and new buyers are open to buying pre-owned, mid to late-term models.   

    Several factors also contribute to the trend of purchasing mid to late-term aircraft, including:  

    • The wait for new aircraft could be two years or more, so people are pursuing the used aircraft market instead of waiting.  

    • Market acceptance for older aircraft is growing, broadening the customer base. 

    • Older aircraft sometimes have unique features that owners and operators like (pilot preference, parts availability, and familiar maintenance requirements). 

    • Greater demand for rental and exchange engines for older model planes indicates that people are trying to gain more life from their aircraft and run their aviation business more efficiently. 


    Things to keep in mind when considering a mid to late term aircraft   

    When thinking of purchasing an older aircraft or extending the life of one, people need to consider certain factors. “When considering purchasing an aircraft that is mid-term (15 to 20 years) or late-term (25 to 30 years and beyond), it is like dealing with a different product entirely rather than one straight off of the production line,” said Nathan Schnitzlein, Director of Strategy at JSSI Parts & Leasing.   

    New entrants into the market are also looking for the best and most cost-effective way to explore business aviation, and operating costs are a large part of the decision-making process. Schnitzlein explains that the operating costs for an aircraft will have peaks and valleys throughout its life due to large airframe inspections and engine shop visits, and these costs vary depending on what point of the lifecycle the aircraft is in.    

    Because operating costs are one of the more important elements in considering an aircraft, and these costs trend up with older aircraft, potential buyers should consider the following when considering purchasing a mid to late-term plane: 

    1. The plane’s maintenance records. Tasks in the Airplane Maintenance Program (AMP) can become more expensive as the plane ages, so it's essential to check with the maintenance schedule to see if any checks are due or upcoming. In addition, there is currently a shortage of parts and maintenance services, which may slow the aircraft from receiving the required service.  

    2. The engine maintenance program. If the aircraft is not covered on an engine maintenance program, what do the forecasted costs look like? Will a buy in or pro rata enrollment help mitigate future expenses? As aircraft increase in total time and cycles. Life Limited Component (LLC) coverage is important to consider.  

    3. The general condition of the airplane and where the aircraft has been operating. For example, the airframe should be inspected for any corrosion due to the elements. Where does the airframe stand in terms of heavy checks and landing gear inspections? A Heavy Maintenance visit (HMV), also known as a D or C check, occurs every six to twelve years, depending on the make and model. These can be an expensive undertaking if one is due. 

    4. The aircraft's operating history. It's important to obtain updated records that reflect everything accurately, including how the plane has been operating, such as if it was a charter plane or for personal use. Additionally, understanding where and how an older plane was registered and operated can increase future maintenance costs. For example, if a plane was registered as a Part 91 for the life of the plane and then a new operator wants to register it as a Part 135, the cost of switching is high. 

    5. The market liquidity of a particular aircraft. Certain makes and models are always in high demand in the aftermarket. Still, if it's a unique plane, reselling it may be more challenging. If owners and operators look to buy a plane later in life, they should consider whether they want to fly it until its retirement or decide to keep the resale window open. 

    6. Total time flown, not just the age of the aircraft. 

    7. How will the plane be financed? Older models may require additional financing requirements compared to newer ones. 


    Looking Forward 

    Heading into the second quarter of 2023, the market is trending back to equilibrium (close to 6%) across all business jets. For some aircraft fleet types, the percentage available for sale has surpassed 10%, and price softening is expected in the near future. For others, that percentage has stayed below 5% and continues to hold strong value among typical charter operating types of aircraft.   

    The private aviation industry is constantly changing. The trends discussed above are just a few ways the industry is evolving toward longer lifespans for aircraft, extending the usage of popular models and demanding more rental engines. As the industry adapts to meet the needs of consumers, we can expect to see new trends emerge that will shape the future of private aviation.   

    Purchasing an older aircraft can be an attractive option for buyers as it can be less expensive than buying a newer model; however, potential buyers should consider the operating costs that may accompany an older plane. Those interested in a mid to late model should consider several factors before purchasing, including the operating costs, maintenance records, engine maintenance program general condition and operating history of the aircraft. 


    About Jet Support Services, Inc. (JSSI) 

    For over 30 years, Jet Support Services, Inc. (JSSI) has been the leading independent provider of maintenance support and financial services to the business aviation industry. JSSI offers worldwide support for aircraft owners, operators, and MROs through its Maintenance Programs, Parts and Leasing, Maintenance Software (Traxxall and SierraTrax), Advisory Services and Conklin & de Decker, which provides data and analysis tools. 


    About NAFA 

    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members comprises lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. 

  • NAFA Administrator posted an article
    NAFA Welcomes New Member: Verijet see more

    NAFA Welcomes New Member: Verijet 


    National Aircraft Finance Association (NAFA) is pleased to announce that Verijet has recently joined its network of aviation professionals. Verijet strives to make private jet charter flights more convenient, economical, safer and sustainable for all who wish to or need to fly.   

    “NAFA members form a network of aviation finance services who proudly finance, support or enable the financing of general and business aviation aircraft throughout the world, and we are happy to add Verijet to our association,” said Ed Medici, President of NAFA.  


    About Verijet: 

    Verijet is a part 135 private charter jet operator with a rapidly growing fleet of single-engine jets that are luxurious, safe and highly convenient for private travelers. Verijet saves valuable time by utilizing smaller, local airports closer to the passenger's origination and desired destination and flying more directly point-to-point. Verijet supplies short-haul regional flights (less than seven hundred miles) covering the Southeast, Northeast, and Western U.S. 

    Verijet supports protecting the earth, sustainability efforts and saving the availability and convenience of private aviation for future generations. Partnering with 4AIR, a company dedicated to developing and expanding sustainability programs, monitoring and compliance and sustainable fuel management, all Verijet flights are 100% carbon neutral.  

    “Our goal is to decarbonize short-haul regional aviation while making it more accessible, economical and time effective for the passengers,” said founders Richard and Allison Kane. “Our planet and time are among our most precious commodities, and we're working on conserving both one flight at a time.” 

    Founded in 2019, Florida-based Verijet is a technology company focused on air mobility – revolutionizing private aviation through proprietary AI and large-scale computing combined with the most innovative, advanced and safest jet in the air today — the SF50 Vision Jet built by Cirrus Aircraft.  

    For more information on Verijet, visit


    About NAFA:    

    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. 

  • NAFA Administrator posted an article
    Contract Issues Remain Hot as Jet Sales Cool see more

    NAFA Member, David G. Mayer, Partner at Shackelford, Bowen, McKinley & Norton, LLP, discusses the preowned market.

    The preowned market for business jets is trending away from the near-manic demand and harsh seller terms we have experienced over the last few years. Ostensibly driven by the pandemic fears and the exuberance of first-time buyers, purchase prices skyrocketed and enabled sellers to restrict the due diligence of purchasers who often willingly accepted severe contract limitations to close an aircraft deal.

    Despite and perhaps because of these extreme market conditions, the momentum in the preowned aircraft sales market remains strong and resilient—but not impervious—to inexorable headwinds of high inflation, rising interest rates, global economic and geopolitical risks, stock market wealth contraction, and incessant discussion of a recession.

    Amid these strong market forces and slightly rising inventory of used jets for sale, pricing and contractual terms in aircraft purchase and sale agreements (APAs) appear to be rebalancing roughly to pre-pandemic norms. This comes even as some sellers resist lowering their sales prices or easing back on negotiating four major issues in APAs: hard and soft deals; aircraft delivery condition; inspection scope; and defaults and remedies for purchasers and sellers.

    Read full article here

    This article was originally published by AINonline on March 10, 2023.