Aircraft
Jetcraft calls on banks to support bizav

Aircraft broker Jetcraft is calling on banks to work more collaboratively with the business aviation industry to support growth in the sector. According to Jahid Fazal-Karim, shareholder and board member of the U.S.-based company, it has been increasingly difficult to obtain credit because of the worldwide economic downturn. Only high-net-worth individuals or companies that are asset rich, such as AAA-rated entities are able to secure loans to buy aircraft. He said, “Clients who don’t need financing are offered loans,” Fazal-Karim told AIN. “People with good business models who want to make fleet orders and can show decent earnings can’t get financing. There should be more availability for loans. Banks need to fund businesses.”

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