RESIDCO, a Chicago-based company that specializes in the leasing of commercial aircraft and engines, has expanded into flight training with the acquisition of Brown Aviation Lease.
The acquisition includes 31 aircraft on lease to several flight schools and universities, with an additional five aircraft expected to be delivered in 2022. Most of the aircraft are Cessna 172 Skyhawks, company officials report.
Company officials say they are “focused on aggressively expanding their presence in this market to offer additional lease solutions across the pilot training marketplace.”
“The well-documented pilot shortage has created significant stress on the entire aviation industry,” said David Kolber, Director of Aviation Marketing. “To add to that, many flight training programs are facing a major re-fleeting as their aircraft approach 50 years old. There is significant demand for financing of these new aircraft and limited appetite from aviation-focused lenders.”