Aspen Avionics has signed a Memorandum of Understanding (MOU) with the NextGen GA Fund to accelerate the rollout of NextGen airspace mandates by providing access to incentives to help aircraft owners finance mandated avionics upgrades.
“This is a unique opportunity to provide our valued customers the guidance, expertise, products, services and financing to help aircraft owners comply with the ADS-B airspace mandate,” said John Uczekaj, president and chief executive officer, Aspen Avionics. “With over 157,000 general aviation aircraft cockpits to be modernized, meeting the needs of general aviation pilots through this unique relationship with the NextGen GA Fund helps boost the industry as a whole while helping to insure that ATC infrastructure investments made by the FAA are protected.”
“Finding efficiencies and cost-effective ways to meet public needs has never been more important to Congress, taxpayers and aircraft owners,” said Michael Dyment, general partner with the NEXA General Partnership, manager of the NextGen GA Fund. “The debate is not about upgrading U.S. aircraft with NextGen; it’s how to inexpensively finance it. The NextGen GA Fund uses private sector capital to achieve public benefits.”
The MOU provides the framework for Aspen and the NextGen GA Fund to work together to promote the rollout of NextGen to the general aviation community. Together, Aspen and the NextGen GA Fund will help aircraft owners acquire avionics solutions through financial incentives before the Jan. 1, 2020 airspace mandate.
The NextGen GA Fund will initially bring approximately $550 million as a capital base, supporting some $1.3 billion in recurring financings to the GA sector over the next 10 years.