Aircraft owners who are worrying about whether or not they will be able to comply with the NextGen regulations set to be put in place on January 1, 2020, may be able to rest a little bit easier. The NextGen GA Fund and Aspen Avionics have signed a memorandum of understanding to provide pilots access to quick and affordable ways to upgrade their avionics.
The MOU allows Aspen and the NextGen GA Fund to work together to facilitate the rollout of NextGen and to help aircraft owners replace their avionics equipment with affordable options that meet the new mandate. "This is a unique opportunity to provide our valued customers the guidance, expertise, products, services and financing to help aircraft owners comply with the ADS-B airspace mandate," said John Uczekaj, president and CEO of Aspen Avionics.
The NextGen GA Fund, which is a public private partnership between the U.S. Congress, the aerospace industry and the private investment community, has announced that it will bring about $550 million as a capital base and expects to be able to provide the GA community with $1.3 billion in recurring financing over the next 10 years. Financing will be available to support the cost for the equipment and installation of WAAS-capable GPS, ADS-B and other components required by the mandate.
It has been estimated that more than 157,000 general aviation cockpits will need to be updated as a result of the implementation of the NextGen rules.
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