Joint Clients Benefit From Enhanced Lease Financing
ORLANDO, Fla., Oct. 6 /PRNewswire/ -- Bank of America and Gama Aviation,
Inc., today announced they have formed a strategic alliance that provides
enhanced financing terms for clients who finance their aircraft through Bank
of America and obtain aircraft management services from Gama Aviation. The
announcement was made at the 61st annual National Business Aviation
Association convention in Orlando.
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'At Bank of America, we are regularly looking for ways to help our clients
take advantage of opportunities to acquire the long-term use of business
aircraft in a cost-effective manner,' said Michael Amalfitano, Corporate
Aircraft Finance executive at Bank of America. 'Gama Aviation, while offering
a full range of aircraft services, is first and foremost an aircraft
management company that emphasizes the stewardship of its clients' assets.
This agreement reflects the confidence we have developed in Gama's aircraft
management expertise and client service, and will result in Bank of America
offering our shared clients more attractive financing.'
Gama Aviation is based in Stratford, Conn. with operations in West Palm
Beach, Fla., Teterboro, N.J., and 15 satellite bases across the United States.
It is a subsidiary of Gama Group, based at Farnborough in the United Kingdom.
'Gama Aviation is extremely proud to be aligned with Bank of America and
its industry-leading Corporate Aircraft Finance team,' said Scott Ashton, Gama
Aviation's vice president for business development. 'Our companies share
common values of performance, integrity, and focus on the customer. Combining
Gama's worldwide footprint and emphasis on providing industry-leading aircraft
management programs with Bank of America's innovative aircraft finance
structuring will surely provide our clients with an exceptional aircraft
ownership experience.'
Gama Aviation, Inc.
Gama is an international aviation group, headquartered at Farnborough
Airport in the United Kingdom with operating bases throughout Europe and the
Middle East. The U.S. headquarters are located at Sikorsky Memorial Airport
in Stratford, Conn. with operating bases located across the country. Founded
in 1983, the business activities of Gama comprise aircraft ownership, charter
services, business aircraft management, medical transport operations and
aircraft maintenance.
Bank of America
Bank of America (NYSE: BAC) is one of the world's largest financial
institutions, serving individual consumers, small and middle market businesses
and large corporations with a full range of banking, investing, asset
management and other financial products and services. The company's Global
Corporate and Investment Banking group (GCIB) focuses on companies with annual
revenues of more than $2.5 million; middle-market and large corporations;
institutional investors; financial institutions; and government entities. GCIB
provides innovative services in M&A, equity and debt capital raising, lending,
trading, risk management, treasury management and research. Bank of America
serves clients in 150 countries and has relationships with 99 percent of the
U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Many of
the bank's services to corporate and institutional clients are provided
through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc
of America Securities Limited. For additional information, visit
www.bankofamerica.com .
SOURCE Bank of America
