Post published:22/02/2018
Post category:Latest Member News
Reading time:3 mins read

Please note the view expressed in this post are those of the member posting and not necessarily of the BBGA

UK specialist bank Paragon launches into aircraft finance market
Paragon to provide finance on fixed wing, corporate jets and rotary aircraft
Aviation team led by Alison Jones, experienced aviation finance specialist

Paragon has launched the latest addition to its asset finance portfolio, introducing aviation finance for individuals and companies seeking to purchase new and used aircraft in the UK, refinance aircraft already mortgaged with other lenders, or release equity on aircraft owned outright.

Paragon will provide finance on general aviation aircraft, including fixed wing aircraft and helicopters, as well as business aviation aircraft, including turbo-prop aircraft and corporate jets, starting at a minimum finance amount of £100,000.

Facilities can be structured for a term of between one and seven years. They include capability for seasonal payments, flexible terms and can be tailored to meet each customer’s individual requirements.

Key to Paragon’s aviation finance offering is a commitment to provide outstanding customer service and continued support for customers across their lifelong aviation journey from a highly experienced team.

The aviation finance team is led by Alison Jones, as Head of Aviation. Alison joins from Lombard where she gained over 30 years’ experience in asset finance, specialising in aviation for the last 13 years and having funded more than 400 aircraft. Alison brings the detailed specialist lending expertise to aviation finance that Paragon is known for across its wider product portfolio.

Alison Jones, Head of Aviation at Paragon said: “I’m excited about the prospects for Paragon’s launch into the aviation finance market. By consulting with leading aircraft appraisers, law firms, insurance specialists and aviation authorities, we’ve built a flexible and competitive finance proposition that lets us tailor finance for a wide range of aircraft types and use.

“By combining Paragon’s standing as one of the UK’s leading specialist lenders and the team’s in-depth aviation expertise, I’m confident that we’ve created a proposition that will expand competition and choice for customers looking for funding in this growing market”

Since launching at the end of October 2017, Paragon has financed six helicopters and the product continues to take off at an accelerated pace.

Ends

For further information contact:

Kathryn Rhinds

PR Account Manager

Tel: 0121 712 3161

www.paragonbank.co.uk

Notes to editors:

Paragon provides asset finance through approved intermediaries and direct to customer across a range of sectors.

Paragon Business Finance PLC. Registered in England number 01497411. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ.

Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £12 billion of assets under management and manages over 450,000 customer accounts.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands, B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551.

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Paul Cremer

My name is Paul Cremer, and this marks my 42nd year working within the business and general aviation industry. Over this time, I’ve had the privilege of overseeing a diverse array of sector activities, ranging from aircraft charter and management to air ambulance services, ground operations, air traffic control, airport management, technology implementation, and the outsourcing services I currently manage.

In my role focused on delivering advisory, technology, and outsourcing services to aviation customers, I handle a wide spectrum of responsibilities. This includes overseeing International Trip Support, Operations Control Centre Services (OCC), Continuing Airworthiness Management Service (CAMO), Airworthiness Reviews, ARC Services, Aircraft Delivery and Re-delivery Support Services, Maintenance Coordination Services including AOG, Tech Ops (Maintenance Control Centre), and managing myairops software products. As the Head of Aviation Delivery, I lead the customer-facing delivery of Technology & Outsourcing products and services for the market, drawing upon a wealth of knowledge, expertise, and industry connections within Gama Aviation’s Technology and Outsourcing Strategic Business Unit.

My journey into Business and General Aviation began during my teenage years while still in school. I was fortunate enough to be welcomed into the industry, starting at a flying club, and later working at the Air Traffic Services Unit at Blackbushe Airport. There, I maintained the ATC Movement Logs in the Control Tower during weekends, solidifying my passion for aviation. Upon completing my schooling, I seized opportunities at Fairoaks Airport, where I began as Ground Crew while pursuing my Aerodrome Flight Information Service Officer’s license. Advancements in my career led me to the role of Air Traffic Services Manager.

Since joining Gama Aviation in 1996, I’ve held various positions, including Operations Manager (Post Holder), Operations & Commercial Manager, Commercial Manager, Operations Delivery Manager, Head of Business Aviation Delivery, and currently, Head of Aviation Delivery. This role encompasses Gama Aviation Group’s Gama Aviation, myairops, and FlyerTech companies.

In 2023, I was honoured to be invited to serve as the Chair of the Operations Working Group for the British Business & General Aviation Association. This opportunity allows me to contribute to industry initiatives within BBGA’s membership of nearly 200 industry companies, focusing on challenges such as regulatory compliance, Air Services Agreements, technological advancements, workforce development, operational matters, and sustainability.

Marc Bailey

Marc Bailey has spent his entire career in aviation and has worked in most areas of Aviation Services with scheduled airlines, MRO’s, military contract support and latterly with associations, government, and its agencies.

Marc represents your position in Europe (even post Brexit) – as President of ECOGAS (European Council of General Aviation Support) which maintains a voice with EASA. All the major member states are represented on the ECOGAS board. With EASA restructuring its meetings with industry, ECOGAS is now well positioned to represent our position in all areas following industry partnerships with the European Independent Maintenance Group and with ARPAS the new drone and autonomous association.

Marc is chair of the UKASF (United Kingdom Airworthiness Strategic Forum) as part of an initiative to develop Aviation Services across all aviation activities. The UKASF pulls together airlines, MROs, Rotary, Drones, and commercial GA bodies to work with CAA and DfT. The objective is for industry to take the lead to drive strategic issues to benefit all parties. We are well positioned after four years to continue our good work and with the re-established role of Chief Surveyor in the CAA we have a good focal point to do this.

Marc chairs the CAA Finance and Services Forum which allows industry in the UK to discuss in the financial plans for the CAA and the value for money delivered by those funds paid by industry. This is a new and valuable new platform for all parties.

Under recent developments Marc has formed an alliance with, ARPAS, AOPA, BHA and BBGA so that we can strengthen our voice under a joint ‘GA 4 Biz’ banner. This alliance is working to do everything possible to represent the industry’s business interests with UK government and to help realise the Government’s desire to make UK General Aviation a Global Leader in a post Brexit environment. GA4Biz – GA4Biz

The next Generation initiatives with industry and government have continued to develop with the retention platform now evolving into the “Aviation Skills Recruitment Platform”. The platform now not only offers a vehicle for those offering and seeking posts in aviation, it also provides pathways with its TalentView portion seeking to provide pathways for new entrants into our sector. The recruitment platform is being further developed to include training opportunities across a wide range of providers, from government agencies through academic bodies. Getting our next generation activities right in the UK over the next couple of years is our single most important issue which we in aviation must grab with both hands. Marc is playing a central role to help develop many of these channels.

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