FirstFlight Expands Aircraft Financial Services
FirstFlight, Inc. (OTC BB: FFLT) a charter management and aviation services company, announced today a new division to focus on aircraft financial services led by industry veteran Michael P. Gaffney.
The division, called JetEquity Solutions, will provide services such as lease vs. buy analysis, identification and negotiation of optimal financing structure, securing credit approval and ensuring acceptable terms, conditions and documentation. These services will be extended to the corporate aviation marketplace as well as FirstFlight clients.
“Mike’s appointment is a key element,” commented John Dow, President and CEO of FirstFlight, “in our plan to provide a premier full-service program for corporate aviation clients. I’ve worked closely with Mike over the years and in my opinion he’s one of the foremost experts in aviation financing and leasing. His expertise will take us to a new level in the aircraft sale and acquisition arena. Drawing upon Mike’s years of experience and extensive network of contacts, JetEquity Solutions will provide a range of financial services that will facilitate a turnkey aircraft sale and acquisition process.”
Gaffney brings over 40 years of secured lending experience to this position. He recently retired from the Corporate Aircraft Finance Group for Banc of America Leasing, where he was responsible for over $3 billion of new business activity.
About FirstFlight, Inc.
FirstFlight is an aviation services company. Our operations are conducted in three core segments: aircraft charter management activities, fixed based operations (FBOs), and aircraft maintenance. Charter management is the business of providing on-call passenger air transportation. A fixed base operation is the primary provider of services such as fueling and hangaring of private/general aviation aircraft operators. The aircraft maintenance business is conducted at our FAA-certificated facilities. (www.FFLT.com)
This release may include projections of future results and “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although the management of FirstFlight believes that the expectations reflected in these forward-looking statements are reasonable, there are no assurances that such expectations will prove to have been correct.