AeroCentury Corp. is an aircraft operating lessor and finance company which specializes in leasing regional turboprop and jet aircraft and engines to regional air carriers. The Company's assets, which consist of a variety of aircraft and engines, are on lease to regional airlines and other commercial users in North America, Europe, Africa, Asia and Australia. The Company utilizes triple net leases of three to five years in duration. AeroCentury was formed in 1997 by the consolidation of predecessor companies and listed on the American (now New York) Stock Exchange in January 1998 (NYSE MKT: ACY).
Since inception, AeroCentury has contracted with JetFleet Management Corp. (JMC) to manage its day-to-day operations and act as its manager and servicer for its fleet of aircraft and engines. With more than 20 years of leasing experience, JMC has closed in excess of 160 aircraft transactions representing over $480 million, as well as over $1 billion in other asset-based financings.
Benefits of using a management company, such as JMC, include: