Bank of America Adds Preferred Provider

Long Island-based jet charter and management company ExcelAire has been selected to join Executive Jet Management, Jet Aviation and Jet Direct as a partner by Bank of America’s aircraft financing division. According to the bank, customers seeking aircraft financing will be offered discounted lease terms if they select one of these management providers. “Certainly if that aircraft is managed by one of our strategic partners, we know where it is, we know who’s flying it and we know how it’s being maintained and taken care of, so that does give us a significant level of security. For that reason we are willing to take more aggressive residuals, which benefits the client immediately,” said Rudy Tenore, a senior vice president and asset manager with Bank of America.