Tetra Financial Group announced it has closed an aircraft lease for a large Minnesota-based aviation firm that provides aircraft chartering, maintenance, management and sales for the aircraft industry.

With Tetra Financial Group’s lease financing, the customer was able to completely renovate a 1972 Dassault Falcon 20F-5 in order to place the aircraft into the company’s active charter fleet.

The sale-leaseback structure of the transaction also allowed the customer to recoup the acquisition costs of the aircraft and still place it into service.

The renovation of the plane included various upgrades, including updated seating, other interior improvements and new paint, among others. Tetra Financial Group’s customer commitment and equipment expertise allowed it to provide not only sale-leaseback financing for the aircraft but also funding for the more difficult to finance soft cost improvements.