Greater interest in operating leases is emerging as the market increasingly focuses on access to and usage of business jets versus outright ownership. We have profiled three companies offering business aircraft leasing.
The lease portfolio of Citizens Asset Finance consists mainly of long-range, large-cabin business jets and some super-midsize models.
A division of Citizens Financial Group, of Providence, Rhode Island, Citizens Asset Finance says it is one of only a few bank-owned leasing companies with the expertise to remarket aircraft returned by the lessee, early or at the end of the lease term.
Citizens Asset Finance will lease aircraft returned by original operators under both short- and long-term arrangements. Benefits include more options for the lessee, such as flexibility on the structure and timing of rent payments.
Citizens says its lease-return provisions have been updated and modified to remove out-of-date, unclear and impractical requirements from decades-old formats used by some financial institutions.
New And Preowned Jet Leasing
Global Jet Capital of Danbury, Connecticut, focuses on new and preowned, midsize to large-cabin business jets. It provides financing in the form of an operating or finance lease, or a loan for the aircraft of the client’s choice.
Since Global Jet Capital does not hold inventory, it is not limited as to which aircraft it can finance. The company says it can provide long-term, fixed-rate leases, enabling predictable payments and lack of residual value risk; the flexibility to extend an existing lease, and the ability to walk away at the end of a lease for a smooth transition to the next aircraft.
Customized Financing Solutions
JSSI Aviation Capital, which is part of Jet Support Services Inc. of Chicago, celebrated its first anniversary as a JSSI component in May 2024. The parent company acquired the Atlanta-based firm, formerly known as Shearwater Global Capital, in May 2023.
JSSI Aviation Capital offers customized asset-based financing solutions for business aircraft, including operating and financial leasing opportunities, along with traditional loans, bridge loans and progress payment financing. Short-term bridge loans were offered beginning this year.
Using an asset-based approach, lending parameters and underwriting efforts are predicated on the asset value itself, which differs from traditional lenders, JSSI Aviation Capital says. As part of JSSI, the company also offers maintenance programs and maintenance tracking software.
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