Bank of America, Pro Airways Announce Corporate Aircraft Strategic Alliance

Sep 24, 2008 11:44 AM

Bank of America and Pro Airways, LLC, a leading aviation services provider,announced a strategic alliance that provides preferred financing terms for clients who finance their aircraft through Bank of America and take advantage of the business aircraft management services of Pro Airways, LLC.

"At Bank of America, we are constantly looking for ways to make it easier for our clients to acquire aircraft," said Michael Amalfitano, Corporate Aircraft Finance executive at Bank of America. "During the past decade, Pro Airways has built a reputation for excellence in aircraft management and maintenance services. This agreement means we can offer better transaction terms to our shared clients because of our confidence in the expertise of Pro Airways."

In addition to the preferred financing terms, clients who select Pro Airways to manage their jets will have the opportunity to generate charter revenue through Pro Airways' charter operations, which are certified under Federal Aviation Administration (FAA) Part 135.

"We are proud to be a preferred aircraft management services provider of Bank of America, one of the premier corporate aircraft financiers," said Donald Staszko, founder and director of operations of Pro Airways, LLC. "The financing options that Bank of America offers potential clients, in conjunction with our aircraft management and maintenance services, which are certified under FAA Part 145, make Pro Airways a great choice for clients to select when purchasing an aircraft."

Pro Airways, LLC
Professional Airways, LLC is the lead member of a group of entities that own and/or manage a fleet of corporate jets and a 46,000-square-foot state-of-the-art corporate jet facility at Plymouth Airport in Massachusetts. Pro Airways, LLC offers charter service through its FAA Part 135 Air Carrier Certificate, as well as aircraft maintenance under its FAA Part 145 Repair Station Certificate. Professional Airways, LLC offers Part 91 management services and hangar facilities for any business or individual that may desire to have a less hands on approach to the daily operation of its aircraft. Based upon the quality of its aircraft and the experience of its crews, the company has clearance from the Secret Service, the FBI and the Capitol Police to fly high-ranking elected officials and dignitaries from foreign governments. Pro Airways, LLC's crew and aircraft were the first allowed in to Ronald Reagan International Airport post 9/11. For additional information, visit www.professionalairways.com.

Bank of America
Bank of America (NYSE: BAC) is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit www.bankofamerica.com.

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