RESIDCO acquired all the assets of Brown Aviation Lease, which consists of 31 aircraft on lease to several flight schools and universities and five orders for delivery in 2022. Cessna 172 Skyhawk aircraft make up the majority of the fleet, which has an average fleet age of four years. RESIDCO is focused on expanding its presence to offer additional lease solutions across the pilot training marketplace.

“RESIDCO was very pleased to work with Jason Griswold and his team at Brown on this important transaction. The well documented pilot shortage has created significant stress on the entire aviation industry.” David Kolber, director of aviation marketing at RESIDCO, said. “To add to that, many flight training programs are facing a major re-fleeting as their aircraft approach 50 years old. There is significant demand for financing of these new aircraft and limited appetite from aviation-focused lenders. Aside from the innovative work of Brown Aviation Lease, the leasing market for this segment is not well developed and RESIDCO looks forward to bringing its deep understanding of the leasing product and aviation knowledge to the market. We are eager to grow our presence and provide innovative leasing solutions to the flight school community.”

“We are excited to have RESIDCO build on the leasing platform we started over a decade ago. Primary to our mission is to enable the pilot training community to access modern aircraft with a financial structure that is bespoke to each program. RESIDCO brings incredible expertise and capacity to an industry that is desperate for innovative financing solutions” Jason Griswold, principal at Brown Aviation Lease, said.