Paris 2011: Private Captial Fund Raises $1.5 Billion To Help Kick-start NextGen ATM in U.S. | Aviation International News

Paris 2011: Private Captial Fund Raises $1.5 Billion To Help Kick-start NextGen ATM in U.S.

A public-private financing construct designed to assist airlines in equipping their fleets for next-generation air traffic operations is nearing realizati

June 23, 2011

A public-private financing construct designed to assist airlines in equipping their fleets for next-generation air traffic operations is nearing realization, according to one of the principals.

The NextGen Equipage Fund, a $1.5-billion fund raised through commercial borrowing and private equity, would finance new avionics for an estimated 75 percent of the U.S. airline fleet, proponents say. The fund, which includes ITT Corp. as a major and so far only named aerospace corporate investor, is seeking a U.S. government loan guarantee to back the private capital.

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