Bank of America Merrill Lynch: Global Business Jet Financier 2012 and North American Jet Financier 2012

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Bank of America Merrill Lynch was awarded Global Jet Financier 2012 and
North American Jet Financier 2012 by Corporate Jet Investor, the specialist online journal for business jet and helicopter finance. The awards were decided by a panel of finance specialists at aircraft manufacturers and leading brokers.

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To understand how important Bank of America Merrill Lynch is to the business jet market you just need to look at the numbers.  Its team of more than 65 aircraft finance specialists serve more than 525 clients and manage a portfolio of over $7 billion in loans as well as leases on 725 aircraft. In 2011 it financed over $1.6 billion in aircraft loans and leases.

For more than 15 years Bank of America has consistently ranked among the leading North American lenders for corporate aircraft acquisition and refinance, serving businesses and high net worth individuals. 

The greatest change of the past three years has been the group’s growth in international deals. Bank of America’s 2008 acquisition of Merrill Lynch allowed the group to grasp opportunities arising from the overall market growth in orders from and deliveries to from business jet buyers outside the US. Until 2009 US clients typically accounted for 75% to 80% of all the bank’s deals. In 2010 and 2011 this share shifted to between 50% and 60%. Bank of America Merrill Lynch closed deals in 13 countries in 2011.

Corporate Jet Investor interviewed Michael Amalfitano, Managing Director, Executive Head, Global Corporate Aircraft Finance at Bank of America Merrill Lynch.

Corporate Jet Investor: Is cash still your biggest competitor?

Amalfitano: “Well, cash has historically accounted for over 50% of the capital used to purchase business jets and we have seen this increase to a peak close to 75% during the period of the recent economic and financial downturn.  And, while it has receded to more traditional levels, cash is a dominant financial solution in the market today.”

Do you think aircraft buyers have rewarded the bank for staying active throughout the cycle?

Amalfitano: “We have maintained an active, consistent presence in the market throughout the cycle and our clients feel our commitment to corporate aircraft finance in all market conditions.  Our proven commitment affords us a distinct advantage in the industry.”

Can Bank of America Merrill Lynch keep its market share internationally?

Amalfitano: “BofA Merrill has a growing global market share. Having a global presence is important to our clients.  As the bank itself grows throughout its international regions so, too, will we grow.  And, with the strength of our corporate, investment and wealth management businesses, our access to corporate and high net worth individual clients and targeted prospects afford us the opportunity to win greater market share.”

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