Airlines could get private help with NextGen equipage costs

04/3/2011 | Wall Street Journal, The · Bloomberg

ITT is planning a $1.5 billion loan guarantee fund to help airlines purchase expensive, satellite-based avionics compatible with the NextGen air traffic control system. Three airlines reportedly have expressed interest in the program, which would create less impact on company balance sheets by allowing the equipment to be leased rather than purchased. The FAA views the fund as "a viable concept," says an official at ITT, which hopes to launch the program with private-equity firm Nexa Capital Partners.

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Wall Street Journal, The · Bloomberg

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