FlightGlobal says banks in business jet financing are in for a bumpy ride as a result of the abundance of cash buyers for new busines aircraft. Quoting the head of aviation finance at Credit Suisse, the trade journal says that up to 80% of new business jets are acquired through cash deals.
The article notes that low pricing is another sign banks are feeling the pressure. FlightGlobal quotes Michael Amalfitano, head of corporate aircraft finance at Banc of America Leasing, as saying, “There is increased competition in the market owing to the number of financiers returning to the market post downtown.”
To read the full text of the FlightGlobal article: click here.