Albuquerque, NM, January 29, 2014: Aspen Avionics announced today it has signed a Memorandum of Understanding (MOU) with the NextGen GA Fund to accelerate the rollout of NextGen airspace mandates by providing access to quick and affordable 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”, said Uczekaj.
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 affordable, innovative avionics solutions through attractive financial incentives. As a leader in general aviation avionics, Aspen Avionics is well-positioned to deliver affordable and innovative ADS-B upgrades long before the January 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. The Business Plan of the NextGen GA Fund may be reviewed by going to www.nextgenfund.com.
About Aspen Avionics, Inc. A new way to look at avionics.™
Aspen Avionics specializes in bringing the most advanced technology and capability from the commercial and business aviation markets into general aviation cockpits—and budgets. Our products increase situational awareness and reduce pilot workload, making it easier and safer to fly in both VFR and IFR conditions. The way we look at it, getting the latest avionics technology shouldn’t always mean spending a lot of money—on equipment or installation. At Aspen Avionics, we design products to be affordable, easy to install, and easy to own. The company can be found online at www.aspenavionics.com, and may be reached at (505) 856-5034.
About the NextGen GA Fund
The NextGen GA Fund LLC is managed by the NEXA General Partnership and Management Company. This Fund was formed by NEXA Capital Partners LLC, which provides specialized transaction-focused services including business advisory, capital planning, corporate finance and investment banking for the aerospace sector. With offices in Washington D.C., NEXA also works closely with government and industry organizations that drive regulatory requirements so important for the aerospace and airline sectors. For more information, visit www.nexacapital.com.