A public-private partnership created to reduce the financial burden involved in implementing the nation’s GPS-based, next-generation (NextGen) air transportation system has raised its first rounds of financing and is now negotiating contracts with its charter customers.
“We have . . . closed our first tranche of equity,” said Jim Hughey, senior vice-president of the NextGen Equipage Fund. The fund has secured a total of $100 million in commitments with some $40 million of that coming from leading aerospace companies.By Dee Ann Divis