Bank of America Announces Strategic Alliance With ExcelAire to Offer Preferred Aircraft Financing

Dec 10,2007 00:00 by PR-Newswire

CHARLOTTE, N.C. and RONKONKOMA, N.Y., Dec. 10 /PRNewswire/ -- Bank of America and ExcelAire, a leading private jet charter and management company, today 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 ExcelAire.

In addition, clients who select ExcelAire to manage their jets will have the opportunity to generate sustainable charter revenue through ExcelAire's charter operations.

"At Bank of America, we are constantly looking for ways to make it easier for our clients to purchase aircraft," said Michael Amalfitano, Corporate Aircraft Finance executive at Bank of America. "This agreement with ExcelAire, which has developed a reputation as a leader in providing aircraft management services, means we can offer better transaction terms to our shared clients because of our confidence in the expertise of ExcelAire."

"We are proud to be associated with Bank of America, one of the leaders in the corporate aircraft market, and their decision to align with ExcelAire further validates the quality of our private jet management services," said Bob Sherry, ExcelAire chief executive officer. "The financing options that Bank of America offers potential clients, in conjunction with our charter revenue programs, make ExcelAire the right choice for those considering the purchase of a private jet."

About ExcelAire

ExcelAire (www.excelaire.com) is one of the nation's leading private jet charter firms, specializing in worldwide private jet charters, aircraft management, maintenance and sales. The company maintains office and hangar space at Long Island MacArthur Airport (ISP). Further information about the entire ExcelAire fleet, including downloadable photos and individual aircraft specifications, is available at ExcelAire's newly relaunched website, or by calling 1.800.773.9235.

About 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 175 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 80 percent of the Global Fortune 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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Source: Bank of America