Business Aviation
Bain Capital Launches JB Aircraft Finance for Mid-Life Corporate Jets
Bain Capital, with aviation experts, launches JB Aircraft Finance to offer flexible financing solutions for mid-life corporate aircraft.

On June 2, 2026, Bain Capital announced the launch of JB Aircraft Finance, LLC, a new corporate jet financing and leasing platform. According to the official press release, the venture was established in partnership with aviation industry veteran Thomas Garbaccio and Miami-based Brickell Asset Management, LLC.
The newly formed entity aims to address a specific gap in the corporate aviation market by offering flexible, asset-backed financing solutions tailored to mid-life corporate Commercial-Aircraft. This segment has historically lagged behind the commercial aviation sector in terms of leasing flexibility and financial product availability.
By combining Bain Capital’s extensive capital resources with Brickell Asset Management’s operational infrastructure, JB Aircraft Finance intends to serve aircraft owners, operators, original equipment OEMs, and brokers. The platform will offer a comprehensive suite of financial products, including operating leases, financial leases, and bespoke financing transactions.
Bridging the Gap in Corporate Aviation Finance
The Mid-Life Aircraft Opportunity
Historically, the commercial aviation sector has heavily relied on leasing and asset-backed financing, with over 50% of commercial fleets often operating on lease agreements. However, as noted in the provided company statements, the corporate and business aviation sectors have not enjoyed the same level of financial flexibility.
Mid-life corporate aircraft represent a particularly underdeveloped segment. Charter operators and private owners frequently find their capital tied up in aging fleets. JB Aircraft Finance aims to capitalize on this by offering sale-and-leaseback options, allowing operators to free up cash and improve liquidity without diluting shareholder equity.
“JB Aircraft Finance, LLC is addressing a clear gap in the corporate aircraft market by providing flexible, asset-backed financing solutions for mid-life aircraft, an area that has been underdeveloped compared to commercial aircraft leasing. We look forward to supporting a differentiated platform capable of moving with the speed and certainty that our counterparties require.”
, Matt Evans, Partner at Bain Capital Special Situations
Strategic Partnerships and Leadership
A Proven Executive Team
The platform is spearheaded by CEO Thomas Garbaccio, a veteran aviation industry executive with a track record of successful ventures. According to industry background data, Garbaccio previously founded and served as CEO of Jet Bank, a Fort Lauderdale-based corporate aircraft leasing firm that launched in mid-2023 with a $250 million initial equity raise. He also launched FTAI Aviation, a commercial aircraft engine leasing company that achieved a $2.9 billion market capitalization on the NASDAQ.
Brickell Asset Management, founded in 2006 and based in Miami, Florida, brings specialized experience in acquiring, leasing, and selling commercial aircraft and engines. According to the press release, Brickell will provide the robust operational infrastructure required to scale the new portfolio with discipline, complementing Bain Capital’s more than 20 years of aviation investment experience.
“By tailoring our financing solutions specifically to mid-life aircraft, JB Aircraft Finance, LLC is addressing an underserved segment of the market. Our immediate goal is to steadily grow our aircraft base and continue to build a highly diversified, industry-leading portfolio.”
, Thomas Garbaccio, CEO of JB Aircraft Finance, LLC
AirPro News analysis
We view the launch of JB Aircraft Finance as a significant indicator that business aviation is maturing to meet the sophisticated financial standards long established in commercial aviation. In a high-interest-rate environment, charter operators and private owners face increasing pressure to optimize their balance sheets.
The synergy between a major private equity firm like Bain Capital and proven operational partners suggests a strong foundation for this venture. By unlocking equity through sale-and-leaseback agreements, operators will likely have greater capacity to upgrade fleets or expand operations, potentially stimulating further transaction activity in the mid-life corporate jet market.
Frequently Asked Questions
What services does JB Aircraft Finance, LLC provide?
The company provides a comprehensive suite of financing solutions specifically for mid-life corporate aircraft, including operating leases, financial leases, and customized financing transactions.
Who are the key partners in this venture?
The platform is a strategic Partnerships between Bain Capital Special Situations, aviation executive Thomas Garbaccio (who serves as CEO), and Miami-based Brickell Asset Management, LLC.
Sources
Photo Credit: Bain Capital
Business Aviation
Thrive Aviation Launches Fractional Program with Honda Subsidiary
Thrive Aviation partners with Honda Aircraft Company subsidiary Arulean Air to launch a fractional jet ownership program.

Las Vegas-based Thrive Aviation has secured a minority investment from Honda Aircraft Company subsidiary Arulean Air to launch a new fractional aircraft ownership program. The Partnerships, announced on September 2, 2026, positions Arulean Air as the aircraft acquisition arm while Thrive Aviation will manage flight operations, program logistics, and client relations.
The collaboration marks a significant expansion for Thrive Aviation, which ranked as the 12th-largest private aircraft operator in the United States in 2025 based on charter and fractional hours, according to ARGUS Traqpak data reported by Forbes. In a press release issued today, Thrive Aviation indicated that full program details will be unveiled at the National Business Aviation Association Business Aviation Convention & Exhibition (NBAA-BACE) in Las Vegas from October 20 to 22, 2026.
Fleet expansion and aircraft acquisition
Under the new structure, Arulean Air will purchase the aircraft for the fractional fleet. Thrive Aviation currently operates a fleet of 30 aircraft and plans to scale its offerings significantly through this joint effort.
The initial fractional fleet growth will focus on two specific aircraft types. The companies anticipate adding four to six HondaJet HA-420 light jets and two to four Bombardier Challenger 3500 super-midsize jets to the program annually.
Thrive Aviation Co-Founder and Chief Executive Officer Curtis Edenfield stated that the partnership provides the foundation to build the program at scale alongside an original equipment manufacturer (OEM) subsidiary.
“Adding fractional ownership opportunities enables Thrive Aviation to serve a broad spectrum of clients throughout their entire private aviation journey, from private charters to fractional ownership to full ownership,” Edenfield said in the release.
Edenfield noted that the company intends to evolve alongside its clients’ aviation needs, describing the fractional program as a major piece of the Thrive platform designed for long-term scaling.
Strategic alignment with Honda Aircraft Company
The involvement of Arulean Air represents a direct link between an OEM and a charter operator. By utilizing a subsidiary to invest in Thrive Aviation, Honda Aircraft Company secures a dedicated operating partner for its products in the competitive fractional ownership market.
The relationship between the two entities extends beyond the current HondaJet HA-420 production model. Forbes reported that Thrive Aviation holds a Letter of Intent for the HondaJet Echelon, a long-range light jet currently under development by Honda Aircraft Company and projected to enter commercial service in 2028 or 2029.
AirPro News analysis
We view this minority investment as a calculated move by Honda Aircraft Company to guarantee placement and operational utilization of its airframes. As the fractional ownership market continues to consolidate around a few dominant players, OEMs are increasingly looking for ways to ensure their aircraft remain competitive options for fleet buyers. By backing Thrive Aviation, Honda creates a reliable pipeline for both the HA-420 and the upcoming Echelon, while Thrive gains the financial backing and fleet acquisition power necessary to compete with larger, established fractional operators.
Sources: Thrive Aviation
Photo Credit: Thrive Aviation
Business Aviation
Bell 407GXi and 505 Showcased at Salon Prive Concours
Bell Textron exhibits the 407GXi and 505 at Blenheim Palace, targeting VIP buyers after the 505 hits 700 deliveries.

Bell Textron Inc. is targeting the European luxury and corporate travel market by showcasing its Bell 407GXi Designer Series and Bell 505 helicopters at the Salon Privé Concours in Oxfordshire, England.
In a press release issued on September 3, 2026, the manufacturer announced its static display at Blenheim Palace, an exclusive automotive and lifestyle event expected to draw 30,000 guests. The exhibition highlights Bell’s strategy to market its VIP configurations directly to high-net-worth demographics outside of traditional aerospace trade shows.
Expanding the UK corporate footprint
The display of the Bell 407GXi follows a recent milestone for the aircraft type in the region. On July 21, 2026, Bell secured its first United Kingdom order for an Instrument Flight Rules (IFR)-configured Bell 407GXi. The aircraft was purchased by corporate operator Glyn Jones for regional business travel, establishing a new operational capability for the platform in the UK market.
Robin Wendling, Bell’s Managing Director for Europe, noted that the boutique nature of the brands at Salon Privé aligns with the manufacturer’s VIP focus.
“Showcasing the Bell 505 and the Bell 407GXi at Salon Privé highlights Bell’s position as a leader in VIP and high-end helicopter travel,” Wendling stated.
Bell 505 fleet milestones
Alongside the 407GXi, Bell is exhibiting the Bell 505 light-single helicopter. The aircraft’s appearance at Blenheim Palace comes shortly after the manufacturer celebrated a major production milestone at the Farnborough International Airshow. On July 20, 2026, Bell delivered its 700th Bell 505 to a private VIP operator.
Since entering service in 2017, the Bell 505 fleet has accumulated approximately 390,000 flight hours across more than 55 countries. The aircraft features Garmin avionics and utilizes the proven Bell 206L4 rotor system, positioning it as a popular entry-level turbine option for private ownership.
AirPro News analysis
We view Bell’s presence at Salon Privé as a calculated pivot toward direct-to-consumer marketing for its light helicopter lines. While events like Farnborough and HAI Heli-Expo remain critical for fleet sales and operator relations, automotive concours events place VIP-configured aircraft directly in front of end-users who possess the capital for private ownership. By positioning the 407GXi and 505 alongside luxury automobiles, Bell is framing its rotorcraft not just as utility transport, but as premium lifestyle assets.
Sources: Bell Textron Inc.
Photo Credit: Bell Textron Inc.
Business Aviation
Universal Aviation Opens First Private FBO Terminal in Saudi Arabia
Universal Aviation launched its Dammam GAT and FBO on Sept. 1, 2026, the first dedicated private aviation terminal in Saudi Arabia.

Universal Aviation officially commenced operations at its new General Aviation Terminal (GAT) and fixed-base operator (FBO) facility at King Fahd International Airport (OEDF) in Dammam on September 1, 2026. The launch establishes the first dedicated private aviation terminal and hangar complex in Saudi Arabia.
Announced via a company press release, the opening marks Universal Aviation’s inaugural operational footprint in the Kingdom. The facility’s development was executed in partnership with MATARAT Holding, Dammam Airports Company (DACO), and the General Authority of Civil Aviation (GACA), supporting the broader National Transport and Logistics Strategy under the Saudi Vision 2030 initiative.
Facility specifications and operational scope
According to reporting by Aviation International News, the Dammam complex spans 42,000 square feet. This footprint includes a 22,000-square-foot passenger terminal and a 20,000-square-foot climate-controlled hangar designed specifically for business Commercial-Aircraft.
Prior to the September 1 launch, Universal Aviation secured its GACAR Part 151 certification, the mandatory ground service provider credential issued by GACA. The regulatory authority formally granted the ground handling license on July 26, 2026. This was followed by a final operational readiness review conducted alongside DACO on August 24, 2026, to verify the facility’s preparedness for live traffic.
“Bringing the new Dammam GAT to operational readiness required a tremendous amount of coordination across facility development, staffing, training, equipment, safety systems, regulatory approvals, and operating procedures,” said John Hewett, Global Vice President of Universal Aviation.
Hewett noted that the operation is structured to support clients with proactive communication and coordinated logistics through every stage of a mission, beginning well before an aircraft arrives on the ramp.
Strategic expansion in Saudi Arabia
The Dammam facility represents the first phase of a broader expansion strategy within the country. Universal Aviation plans to operate a total of three locations across Saudi Arabia, with future sites slated for Jeddah and Riyadh.
The upcoming Jeddah location will feature a planned 108,000-square-foot private aviation hangar, significantly expanding the company’s physical infrastructure and aircraft storage capacity in the region.
“Today’s opening is an important milestone, but it is only the beginning of our long-term vision for Saudi Arabia,” said Greg Evans, Managing Principal of the Evans Family Office. “We are committed to investing in the Kingdom, developing Saudi talent, and helping elevate business aviation service standards.”
AirPro News analysis
We view Universal Aviation’s entry into Saudi Arabia as a critical step in maturing the region’s business aviation infrastructure. Historically, business jet operators in the Kingdom have often relied on shared or retrofitted commercial Airports facilities. By introducing purpose-built, climate-controlled hangars and dedicated FBO terminals, Saudi Arabia is aligning its ground handling capabilities with the expectations of international corporate flight departments. This development directly supports the Vision 2030 mandate to increase foreign Investments and tourism by removing logistical friction for high-net-worth and corporate travelers.
Sources: Universal Aviation
Photo Credit: Universal Aviation
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