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AirFinance

FlyFunder

EBACE 2024

Finance/Leasing

Exhibitions/Conferences

Press Release

Issued by AirFinance.

May 22, 2017

AirFinance reports positive start for Flyfunder digital finance marketplace and announces European launch at EBACE 2017

FlyFunder, a revolutionary online marketplace that effectively and efficiently connects buyers of business jets and helicopters with aviation financiers, has revealed that deals worth more than $500 million have been announced on the platform, and 30 of these are currently live. Over 50 financiers have signed up to provide access to funds. The company, which launched into the US market at NBAA November last year, is also announcing its European launch at EBACE 2017.

Of the financing opportunities announced on FlyFunder, around 12% are from OEMs, 46% from brokers and 41% million from buyers themselves. The first closing of a FlyFunder sourced deal is expected in Q2 2017. 

New research from FlyFunder reveals that there are currently over 500 business aircraft for sale in Europe, which is over 12% of the continent's fleet. Just less than 17% of Switzerland's business aircraft fleet is up for sale, which is the highest of the 10 biggest country markets in Europe, followed by 15.5% for the UK. Just 9.2% of the business aircraft fleet in Germany is on the market, which is the lowest of the 10 countries.

Co-founder of FlyFunder Paul Sykes said: “Deliveries of business aircraft to Europe may have fallen in recent years, but the market is still huge and vibrant, and access to finance is key to it operating efficiently and growing. We are delighted that so many business aviation finance companies have signed up to use our platform and this has been key to a number of potential buyers also using us. We hope that over time, we can play a significant part in fuelling more sales of business aircraft by helping buyers find finance more easily.”

Co-founder Kirsten Bartok said: “We are happy with our progress so far, but there is a long way to go. In 2017 we are looking to build our brand further in Europe, make some notable small changes to the website following input from users, and drive greater engagement across all user categories.”

FlyFunder is free for all users to join, with financiers paying FlyFunder a small commission upon the successful closing of a transaction. The process is tailored specifically for the general aviation industry as deals are posted anonymously andfinanciers declare their interest based on deal criteria rather than the identity of the customer. FlyFunder was also developed with the aircraft broker/consultant community in mind and will share with the broker/consultant announcing a deal half of the commission if the funding is consummated.