MORRISVILLE, N.C. – LifeStyle Aviation, a leading distributor of new and used piston general aviation aircraft in North America, is expanding its aircraft leasing business as a way of helping flight schools deal with challenges related to the Coronavirus pandemic.
LifeStyle Aviation’s leasing solutions, which include direct leases as well as leaseback development programs, are allowing flight schools to continue pursuing growth strategies while reducing the need for large cash down payments at a time when money may be tight. Leasing also provides flight training organizations with tax planning flexibility and frees up capital for other uses, including payroll expenses and emergencies.
In recent weeks, LifeStyle Aviation has directly leased or arranged leasebacks of a number of new aircraft to flight schools in its network of partner flight training organizations. Blue Line Aviation based at Raleigh-Durham International Airport in North Carolina took delivery in April of two new Cessna Skyhawks on lease through LifeStyle Aviation. Take Flight Aviation at Orange County Airport in New York received a new Diamond DA40 NG and a twin DA42 NG and will take delivery of another new DA40 NG soon. Texas Aviation Academy in New Braunfels, Texas, in late April also took delivery of a new leased Cessna Skyhawk. OnCore Aviation in Rochester, New York, renewed its lease of a DA40 XL and CRAFT Flight Training and Simulation of Charleston, South Carolina, added a DA40 NG and a DA40 XLS in 2020.
Flight schools often finance the purchase of new airplanes for their training fleets. Leasing can improve a flight training operator’s cash flow situation by allowing them to continue modernizing with technologically advanced aircraft even in challenging economic times.
“The ability for flight schools to continue preparing for the future even in a time of uncertainty such as we face brings a competitive advantage to schools that are focused on serving their clients with quality flight training in modern general aviation airplanes,” said John Armstrong, president and founder of LifeStyle Aviation. “Our lease and leaseback approaches allow our LifeStyle Network Partners to continue strategically growing toward their long-term goals.”
As “Essential Businesses” designated under federal guidelines, numerous flight schools have continued training activity on a limited basis since the Coronavirus outbreak began. Schools that remain open for business are employing social distancing practices wherever possible, disinfecting aircraft between flights and screening employees and clients for Covid-19 symptoms. All are looking forward to getting back to full flying status and to working their training backlog.
“We feel blessed to have continued opportunities for growth during these challenging times,” said Trey Walters, CEO of Blue Line Aviation. “We appreciate the partnership with Lifestyle Aviation very much, as it has been a critical component of our success.”
“While we’re facing many challenges during this surreal time, we are proud to have become the first operator in the New York City area to add the cutting-edge technology offered in the Diamond DA40 NG to our fleet,” said Ryan Mayo, president of Take Flight Aviation. “Our ability to have help from LifeStyle Aviation to lease and arrange leaseback airplanes has been a key to our continuing growth strategy.”
"Taking delivery of this new aircraft from Lifestyle Aviation has given Texas Aviation Academy an amazing opportunity for continued growth,” said Hunter Reiley, founder of Texas Aviation Academy. “Currently, we are contracted with the United States Air Force, and the airplane we are leasing has increased our ability to train our servicemen to fly. In less than a month we have been able to put more than 115 hours on the aircraft and passed seven IFR and private pilot check rides in it. The new aircraft has helped the marketability of our school, and has brought in not only new students, but also new flight instructors."
Flight training organizations in the U.S. that are interested in learning more about LifeStyle Aviation’s aircraft leasing solutions can visit lifestyleaviation.com.
