The Aircraft Electronics Association recently announced a partnership agreement with the NextGen GA Fund to accelerate the rollout of NextGen by providing access to quick, affordable financial incentives to aid aircraft owners.
The NextGen GA Fund will finance NextGen installations, using stipulated equipage families to include WAAS-capable GPS, ADS-B In, ADS-B Out, RNAV/RNP avionics, data communications, SWIM, flat-panel displays, antennas, electronic components, instrument panel modifications, and installation and certification costs.
The NextGen GA Fund is a public-private partnership formed between the U.S. Congress, the aerospace industry and the private-sector investment community. Congress approved of this program by granting federal loan guarantees found in Section 221 of the Federal Aviation Administration Reauthorization Act of 2012. The NextGen GA Fund will initially bring approximately $550 million as a capital base, eventually supporting some $1.3 billion in recurring financings to the general aviation sector during the next 10 years. The NextGen GA Fund will enable the retrofit of tens of thousands of general aviation aircraft.
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