Press Release
Issued by Blackhawk Aerospace Upgrades.
June 26, 2009
Blackhawk Modifications, Inc., the worldwide leader in turboprop engine upgrades, announced today an innovative Engine Financing Program that offers up to 100% financing to qualified U.S. buyers. The Financing Program may include the cost of the engines, shipping and installation of factory-new Pratt & Whitney PT6A engines.
Terms of the Financing Program provide qualified customers the ability to finance their engine purchase using a 15-year fully amortized loan schedule with a balloon payment due after 5 years. A payment example for a set of -61 engines at a list price of $870,000 would generate a monthly payment of $7,796. Additionally, the tax savings under the 2009 American Recovery and Reinvestment Act may offset the monthly payments made during 2009
"We are excited about our new Engine P," said Jim Allmon, Blackhawk President and CEO. "Turboprop operators looking for greater performance now have the option to make monthly payments on our XP engine upgrades, maximizing their cash flow. This new program will broaden the engine upgrade market by making it cost effective for qualified buyers to upgrade regardless of how much time is remaining on their old engines. We're proud that Blackhawk continues to innovate and change the playing field in the engine upgrade market. This program is just one more reason why Blackhawk leads the Pratt & Whitney engine converter program."
"No one else in the industry has a program like this," said Matt Shieman, Blackhawk Chairman of the Board. "The business decision to invest in new engines vs. the cost of overhauling older engines has been simplified. This financing program helps to preserve both cash and existing bank lines of credit. Plus, the aircraft performance and its resale value are significantly increased "
The financing option is available for engine models PT6A-61, -52, -42 and -135A. Operators of Cheyenne I, II and IIXL, as well as Conquest I, are advised to call Blackhawk directly at 254-755-6711 to discuss financing options on a case by case basis. Charter operators with a solid track record will also be considered for financing.
The company reports they are anticipating a huge response from the turboprop community with this new program and urge interested parties to call Blackhawk, or one of their more than 35 distributors worldwide. Visit www.blackhawk.aero for more information and for a list of authorized distributors.
