Business aviation financiers exhibiting here at EBACE’08 have arrived in Geneva largely uncertain about the full implications of the ongoing squeeze on the global credit market and the availability of funds to pay for aircraft purchases. Last month, EBACE Convention News approached six banks listed as exhibitors, but only two–Citi Private Bank (Booth No. 1441) and Bank of America (Booth No. 941)–would respond to questions about whether the fallout from the massive bad debts from the U.S. sub-prime mortgage crisis is inhibiting previously buoyant demand for business aircraft.
“The current economic situation has certainly not improved the financing conditions for buyers,” noted Toennies von Limburg, international sales director in Bank
of America Leasing’s corporate aircraft finance department. “The full impact remains to be seen,” according to Mary Schwartz, global head of aircraft finance and managing director at Citi Private Bank wealth management service.
