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BANK OF AMERICA ANNOUNCES STRATEGIC ALLIANCE WITH AVJET AVIATION SERVICES
October 20, 2009
Corporate Aircraft Finance Clients Can Benefit from Preferred Financing Terms
ORLANDO, Fla. /PRNewswire/ -- Bank of America today announced a strategic alliance with Avjet Corporation, a leading aviation services provider based in Southern California, providing preferred financing terms for clients who finance their aircraft through Bank of America and take advantage of the business aircraft management services of Avjet.
Bank of America, a leader in the corporate aircraft market with a portfolio of over 800 clients and $7 billion in aircraft loans and leases, made the announcement at the 62nd annual National Business Aviation Association convention here.
"At Bank of America, we are always looking for ways to make it easier for our clients to acquire aircraft with beneficial financing terms," said Michael Amalfitano, Bank of America Global Corporate Aircraft Finance executive. "Avjet is a premier provider of aircraft management and maintenance services. We are pleased to add Avjet to our lineup of preferred service providers, greatly strengthening aircraft management and financing opportunities for our clients in Southern California."
Through its Global Corporate Aircraft Finance organization, Bank of America is a full spectrum lessor and lender for mid- to large-cabin corporate jets, turboprops, and helicopters and provides client-specific, tailored aircraft solutions through a combination of unique financial products and aircraft services.
Bank of America's strong ties with the industry's top aircraft manufacturers, premier aircraft vendors, dealers and leading service providers within the aviation community have led to alliances that bring cost-effective, market-focused programs to a vast client base.
"Avjet has enjoyed consistent growth for nearly 30 years and has emerged from the current global crisis as a clear industry leader," said Marc Foulkrod, Avjet chairman and chief executive officer. "When considering a financial trading partner, we wanted our clients to have the same comfort and security that is only available from one of the world's largest and most respected financial institutions. Bank of America is the clear choice."
About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 53 million consumer and small business relationships with 6,000 retail banking offices, more than 18,000 ATMs and award-winning online banking with more than 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. For more information, visit www.bankofamerica.com.
About Avjet
Avjet Corporation is an international provider of aircraft charter and management solutions. Specializing in large-cabin, VIP aircraft, the company also offers expert assistance in aircraft sales and acquisitions. Avjet’s clients maximize the many benefits of private aviation, while reducing the cost and complexity of aircraft ownership. Avjet holds the highest safety ratings by the world’s leading auditing services.
The company is headquartered in Burbank, California, and maintains a global presence in Washington D.C., Seoul, Dubai, Abu Dhabi, Moscow and other locations around the globe.
To learn more about the company, visit www.avjet.com.
