Private Jet Refinancing: Top 10 Companies in 2026
Guide to private jet refinancing, cash-out aircraft loans, balloon refinancing and sale-leasebacks, plus 10 credible U.S. aircraft finance companies.
Private Jet Refinancing Guide
Private jet refinancing allows an aircraft owner to replace an existing aircraft loan, finance an aircraft previously purchased with cash, release accumulated equity or restructure an aircraft's debt around a new financial objective.
The transaction can be considerably more strategic than simply searching for a lower interest rate. An owner may refinance to extend amortization, remove an approaching balloon payment, release capital from an appreciated aircraft, change lenders, finance an aircraft upgrade or move from conventional debt into a lease structure.
Refinancing has become increasingly relevant in the U.S. business aviation market. The National Aircraft Finance Association reported in 2026 that aircraft owners have shown greater interest in refinancing since 2025 as they reconsider the opportunity cost of holding millions of dollars of equity inside an aircraft. NAFA describes the two broad refinancing structures as secured aircraft debt and sale-leaseback financing.
For corporate and high-net-worth owners, the underlying question is usually straightforward: does the capital currently sitting inside the aircraft have a better use elsewhere?
This guide covers private jet refinancing, aircraft loan refinancing, cash-out aircraft refinancing, balloon maturities, sale-leasebacks and lender underwriting. It also ranks ten credible U.S. aircraft finance companies worth considering. Owners evaluating debt more broadly can also review ACMI World's guide to aircraft acquisition financing .
Private Jet Refinancing
Replace the Debt, Release Equity or Restructure the Aircraft
In a conventional refinance, a new lender pays off the existing aircraft loan and receives a new first-priority security interest in the aircraft. The owner continues using the same jet under a new financing agreement.
If the aircraft is worth substantially more than the existing loan balance, a new lender may also advance additional proceeds. This is commonly called a cash-out refinance or aircraft equity release.
What Is Private Jet Refinancing?
Private jet refinancing is new financing secured by an aircraft that the borrower already owns or has already financed.
If an existing aircraft loan has a USD 12 million outstanding balance, for example, another lender may refinance that debt with a new USD 12 million loan under different pricing, amortization, maturity or covenant terms.
If the aircraft is worth USD 20 million and the borrower's credit profile supports additional leverage, the new lender could potentially finance an amount above the existing USD 12 million payoff. The old loan is discharged and the excess proceeds provide liquidity to the aircraft owner.
Refinancing can also occur after an aircraft was originally purchased entirely with cash. In that situation there is no existing lender to repay. The owner places financing against an unencumbered aircraft and receives the loan proceeds.
Six Common Private Jet Refinancing Structures
Rate-and-Term Refinance
Replace an existing aircraft loan with new pricing, amortization, maturity or covenants.
Cash-Out Refinance
Borrow against accumulated aircraft equity and distribute the excess proceeds after repaying the existing lender.
Post-Cash-Purchase Financing
Add financing after buying an aircraft with cash to restore liquidity to the owner or business.
Balloon Refinance
Replace an aircraft loan approaching its contractual balloon or maturity date.
Upgrade Refinance
Combine existing aircraft debt with financing for engines, avionics, connectivity, paint or cabin refurbishment.
Sale-Leaseback
Sell the aircraft to a lessor, receive the sale proceeds and continue using the same aircraft under a lease.
When Does Refinancing a Private Jet Make Sense?
A lower interest rate is one reason to refinance, but it is far from the only one.
Aircraft owners frequently refinance because their financial position has improved since the original acquisition. A company that bought its aircraft during an expansion phase may now have a stronger balance sheet, lower leverage and better cash flow, allowing it to approach lenders that were unavailable at the time of purchase.
Aircraft equity can create another opportunity. If the existing loan has amortized faster than the aircraft has depreciated, a significant amount of capital may have accumulated inside the jet.
Refinancing can convert part of that equity into liquidity without selling the aircraft. The proceeds can then be reinvested into an operating business, acquisitions, securities or another capital requirement.
Global Jet Capital disclosed a recent example in 2026 involving an aircraft owner that refinanced a pre-owned jet specifically to release capital for investment in its core business. The transaction involved a cross-border ownership profile that local banks had found difficult to finance.
Equity Release
Cash-Out Aircraft Refinancing
Cash-out refinancing is particularly relevant when an aircraft has substantial equity.
BOK Financial currently publishes a real financing example involving a Gulfstream G280 where it completed a USD 13.4 million cash-out aircraft refinance. First American Equipment Finance also offers cash-out or reimbursement financing for eligible aircraft that were originally purchased with cash.
The lender will not simply lend the difference between an owner's preferred valuation and the current loan. The aircraft will normally need to support the new exposure through the lender's own valuation and loan-to-value requirements.
Private Jet Cash-Out Refinance Example
| Item | Illustrative Amount |
|---|---|
| Current aircraft value | USD 20,000,000 |
| Existing aircraft loan | USD 8,000,000 |
| New loan at 70% LTV | USD 14,000,000 |
| Existing lender payoff | USD 8,000,000 |
| Gross equity released | USD 6,000,000 |
This is only an illustration. Actual advance rates, appraised values, fees, payoff amounts, borrower requirements and lender structures vary materially.
Refinancing an Aircraft Balloon Payment
Many aircraft loans amortize over a period considerably longer than the contractual loan term.
A five-year aircraft loan might therefore use a 15-year amortization schedule. The monthly payment is calculated as if the loan were being repaid over 15 years, but the remaining principal becomes due when the five-year term ends.
The owner can pay the balance, sell the aircraft or refinance the balloon into another loan.
Owners should begin that process well before maturity. Aircraft value, age, maintenance condition and lender appetite can all change during the original loan term. Waiting until a balloon is due removes negotiating leverage.
Refinancing a Private Jet Purchased With Cash
A significant portion of business aircraft transactions still close without acquisition financing.
Paying cash can make an acquisition easier to execute, particularly when the buyer faces a competitive purchase process or compressed closing schedule.
Financing can then be arranged after the aircraft has closed.
First American Equipment Finance, for example, currently offers reimbursement financing for qualifying aircraft purchased with cash. Its published program can provide up to 100% reimbursement of the original purchase price for eligible recently completed transactions, subject to underwriting and program requirements.
Private Jet Sale-Leaseback
A sale-leaseback can release substantially more aircraft equity than a conventional secured loan.
The aircraft owner sells the jet to a financing company and receives the sale proceeds. The financing company becomes the legal owner and leases the same aircraft back to the former owner.
Operationally, the aircraft can remain available to the same flight department. Financially, however, the structure has changed from owned aircraft to leased aircraft.
Global Jet Capital actively offers business-aircraft sale-leaseback structures designed to release capital while allowing the client to retain use of the aircraft. Tax, accounting and lease-end treatment should be analyzed before comparing this structure with a conventional cash-out loan.
What Aircraft Refinance Lenders Underwrite
The lender has the benefit of an existing operating aircraft, but that does not mean refinancing is automatic.
Current Value
The lender will establish its own view of current fair-market or orderly-liquidation value.
Aircraft Age
Older aircraft can receive lower leverage, shorter amortization or reduced lender appetite.
Maintenance Status
Upcoming heavy inspections and deferred maintenance directly influence collateral quality.
Engine Programs
Enrollment and payment status under major engine and APU programs can materially affect lender comfort.
Borrower Credit
Financial disclosure depends on whether the transaction is conventional credit, asset based or non-recourse.
Aircraft Use
Part 91 corporate use and high-utilization Part 135 charter can produce very different financing terms.
Loan-to-Value
How Much Can You Refinance?
There is no universal aircraft refinancing LTV. Advance rates depend on aircraft value, age, liquidity, maintenance condition, utilization and borrower quality.
Current published lender programs illustrate the range. Truist says aircraft lending can typically reach up to 85% LTV. First American publishes full-aircraft financing up to 90% LTV. PNC's conventional credit program can reach up to 100% LTV for qualifying borrowers, while its asset-based products use different recourse and disclosure structures.
A maximum advertised LTV should not be confused with the likely structure for every aircraft. A ten-year-old high-utilization jet approaching major maintenance will be underwritten differently from a young, highly liquid aircraft with complete records and full engine-program enrollment.
How to Refinance a Private Jet
| Step | Action |
|---|---|
| 1. Review existing debt | Confirm balance, rate, maturity, amortization and any prepayment cost. |
| 2. Establish aircraft value | Review model market, age, maintenance, equipment and comparable transactions. |
| 3. Define the objective | Lower payment, cash-out, maturity extension, upgrade financing or structural change. |
| 4. Approach lenders | Compare aviation lenders based on actual aircraft and borrower profile. |
| 5. Obtain payoff | Existing lender provides the amount required to discharge the current financing. |
| 6. Complete title work | Coordinate title search, lien release, new security documents and registry filings. |
| 7. Fund refinance | New lender repays the existing loan and distributes any permitted excess proceeds. |
The closing mechanics are similar to an aircraft acquisition because title and lien filings must still be handled correctly. ACMI World's aircraft acquisition escrow guide provides additional background on aircraft title and closing procedures.
Top 10 Private Jet Refinancing Companies in 2026
We ranked these companies according to their demonstrated business-aircraft financing experience, explicit refinancing capabilities, breadth of structures, transaction scale, asset expertise and suitability for U.S. corporate or high-net-worth aircraft owners.
This is an editorial ranking. The strongest lender for a Gulfstream G650ER owned by a family office may be entirely different from the best lender for a ten-year-old Challenger operating under Part 135.
| Rank | Company | Strongest Fit | Refinancing Capability |
|---|---|---|---|
| 1 | Global Jet Capital | Large and complex business jets | Loans, equity release, sale-leaseback |
| 2 | Bank of America GCAF | HNWIs and large corporations | Debt, refinance and leases |
| 3 | Huntington | USD 2M–50M aircraft refinancing | Explicit aircraft refinance program |
| 4 | Citizens Business Aviation | Corporate aircraft and structured finance | Refinance, non-recourse, tax leases |
| 5 | PNC Aviation Finance | Broad U.S. corporate aircraft market | Asset-based, credit and lease structures |
| 6 | BOK Financial | Family businesses and private wealth | Cash-out aircraft refinance |
| 7 | 1st Source Bank | Broad business and general aviation | Explicit aircraft loan refinance |
| 8 | First American Equipment Finance | Midsize and large aircraft | Cash-out and reimbursement financing |
| 9 | Truist Wealth | Private wealth clients | Aircraft refinance up to typical 85% LTV |
| 10 | Cogent Bank | Business-purpose jets | Customized business aircraft refinancing |
1. Global Jet Capital
Global Jet Capital takes the top position because business aviation finance is its core business rather than one product inside a broader commercial bank.
The company provides conventional loans, finance leases, operating leases and sale-leaseback structures and has originated billions of dollars of business-aircraft financing.
Importantly for this ranking, its current 2026 transaction reporting includes an actual refinancing where an aircraft owner wanted to free capital for investment in its core business. Global Jet Capital structured the transaction despite the aircraft and guarantor being located in different jurisdictions.
It is particularly relevant for large-cabin, ultralong-range and complicated cross-border aircraft where asset knowledge and structural flexibility matter as much as the nominal interest margin.
2. Bank of America Global Corporate Aircraft Finance
Bank of America Global Corporate Aircraft Finance explicitly provides financing for owners buying, refinancing or refitting fixed-wing aircraft.
Its products include traditional aircraft debt, tax-oriented operating leases, synthetic leases and capital-markets structures.
Bank of America states that preferred transactions are USD 5 million or larger. Its client base includes high-net-worth individuals, privately held businesses and Fortune 1000 corporations.
The broader private-bank relationship can be particularly useful for owners with complex family-office, corporate, tax and liquidity planning requirements around the aircraft.
3. Huntington National Bank
Huntington Aviation Financing has one of the clearest publicly stated aircraft refinancing products among major U.S. banks.
Huntington currently offers aircraft loans and leases between approximately USD 2 million and USD 50 million for acquisition or refinancing opportunities, with terms between three and ten years and flexible amortizations.
Its product range covers aircraft from small through large-cabin jets and turboprops. Huntington also finances aircraft upgrades and progress payments on new aircraft orders.
That makes it a strong candidate for owners who want to refinance existing debt while simultaneously funding avionics, engine, paint or interior work.
4. Citizens Business Aviation
Citizens Business Aviation maintains a dedicated U.S. team focused on business-aircraft finance.
Refinancing is explicitly included among its core financing products alongside traditional debt, non-recourse debt, tax leases, synthetic leases and progress-payment financing.
Citizens is particularly relevant when the refinancing question involves more than replacing one term loan with another. Its ability to compare conventional debt, non-recourse financing and lease structures gives corporate owners several ways to restructure aircraft capital.
5. PNC Aviation Finance
PNC Aviation Finance is one of the largest specialist corporate-aircraft financing groups operating within a U.S. bank.
PNC reports USD 6.3 billion of aircraft loans over the previous five years and maintains a large dedicated aviation team.
Its structures include asset-based aircraft loans, conventional credit-based loans, operating leases, finance leases, tax-oriented leases, synthetic leases and sale-leasebacks.
PNC is especially interesting where an owner wants to reconsider the entire aircraft financing structure rather than merely reprice an existing loan. Its asset-based program can also be relevant to borrowers seeking structures with reduced financial disclosure or recourse, subject to qualification.
6. BOK Financial
BOK Financial Private Wealth provides aircraft financing starting at approximately USD 1 million and offers fixed and floating rates with amortization extending up to 20 years.
Its current transaction examples make the bank particularly relevant to this list. BOK reports completing a USD 13.4 million cash-out refinance on a Gulfstream G280.
Other published transactions include financing a Gulfstream G650ER for a family business, a Falcon 7X for an expanding family-owned company and a Falcon 900EX ownership buyout.
This makes BOK especially worth considering for family businesses and private-wealth borrowers using aircraft equity as part of a larger liquidity strategy.
7. 1st Source Bank
1st Source Bank Aircraft Financing has a longstanding dedicated aircraft-finance division covering business jets, turboprops and other general aviation aircraft.
Its current FAQ explicitly confirms that existing aircraft loans can be refinanced with 1st Source using competitive rates and flexible terms.
The bank says typical aircraft financing ranges from approximately USD 500,000 to well above USD 15 million and reports more than USD 2 billion of aircraft financing during the past four years.
1st Source is particularly relevant to owners who want a specialist aircraft lender without restricting the search exclusively to the largest private-bank platforms.
8. First American Equipment Finance
First American Equipment Finance has developed a substantial private-aircraft financing practice for U.S.-registered midsize and large aircraft.
Current full-aircraft programs include fixed and floating rates, loan-to-values up to 90%, terms of five to seven years and amortizations as long as 20 years, subject to credit and aircraft eligibility.
Its refinancing relevance is particularly strong for recent cash buyers. First American offers cash-out or reimbursement financing and currently states that eligible aircraft purchased outright may receive financing after acquisition.
Its published transactions also include a cash-out refinance on an existing Gulfstream G650 fractional interest and financing for aircraft including the Falcon 7X, Praetor 500, Challenger 3500 and Gulfstream G700.
9. Truist Wealth
Truist Wealth Customized Lending offers private-aircraft financing as part of its high-value asset lending platform.
Truist explicitly includes both aircraft purchases and refinancing. Its current materials state that aircraft financing can typically reach up to approximately 85% loan-to-value, depending on the aircraft and the borrower's financial profile.
The strongest fit is likely an existing or prospective Truist Wealth client who wants the aircraft refinance evaluated alongside investment assets, estate planning, business liquidity and the rest of the family's balance sheet.
10. Cogent Bank
Cogent Bank Business Aviation Lending is a smaller specialist platform with an experienced business-aircraft lending team.
Cogent explicitly offers aircraft refinancing for corporations, business owners, operators and high-net-worth clients where the aircraft supports a legitimate business purpose.
Its published aviation material indicates loan-to-values commonly around 70% to 85%, with transactions historically ranging from approximately USD 4 million to USD 25 million, although individual transactions can vary.
Cogent is particularly interesting when a borrower values a smaller relationship-driven bank that can move more quickly than a large institutional platform.
Which Private Jet Refinance Company Fits Which Owner?
| Situation | Companies Worth Comparing |
|---|---|
| Large or complex international jet | Global Jet Capital, Bank of America |
| USD 2M–50M straightforward refinance | Huntington, PNC, Citizens |
| Cash-out refinance | Global Jet Capital, BOK Financial, First American |
| Aircraft originally purchased with cash | First American, Global Jet Capital |
| Asset-based / limited-recourse structure | PNC, Citizens, Global Jet Capital |
| Private wealth relationship | Bank of America, BOK Financial, Truist |
| Relationship-driven specialist bank | 1st Source, Cogent, Huntington |
How Much Does It Cost to Refinance a Private Jet?
Interest rate is only one component of the refinance economics.
A transaction can require aircraft valuation, title and escrow services, lender legal counsel, borrower counsel, FAA filings, International Registry filings where applicable, origination fees and potentially prepayment costs under the existing loan.
A refinance that reduces interest expense by USD 100,000 per year but costs USD 250,000 to execute may still make sense on a long enough holding period. It may be unattractive if the owner expects to sell the aircraft next year.
Owners should therefore calculate the refinance break-even period rather than comparing headline interest rates alone.
Can You Refinance an Older Private Jet?
Yes, but lender appetite usually narrows as aircraft age increases.
PNC currently states that it considers business jets and turboprops up to approximately 20 years old. First American generally finances full aircraft up to 15 years old under its standard published program.
Other specialist and private-credit lenders may finance older aircraft when the maintenance position, model liquidity and borrower justify the risk.
The aircraft's chronological age is only one factor. A well-maintained jet with complete records, fresh heavy inspections and fully funded engine programs can represent better collateral than a younger aircraft approaching several million dollars of deferred maintenance.
Refinancing a Jet Used for Charter
Aircraft used in commercial charter require a different lender discussion from a privately operated Part 91 corporate jet.
Commercial utilization generally produces more annual hours and cycles. Lenders may therefore place greater emphasis on maintenance, engine reserves, charter operator quality and historical utilization.
Some lenders focus almost entirely on private and corporate use, while others will finance qualified Part 135 operations.
First American explicitly permits qualified Part 135 utilization under its current full-aircraft program. Owners of heavily utilized charter fleets may also need to approach private-credit or equipment-finance lenders capable of underwriting the operating business together with the aircraft.
What to Prepare Before Requesting Aircraft Refinancing
- Aircraft manufacturer, model, year and serial number
- Current registration
- Airframe hours and cycles
- Engine and APU times
- Engine and maintenance program enrollment
- Recent major inspection history
- Current aircraft loan balance
- Interest rate and maturity
- Existing amortization schedule
- Requested refinance amount
- Requested cash-out amount, if applicable
- Current ownership entity
- Borrower or guarantor financial statements
- Aircraft operating structure and expected annual utilization
- Any planned avionics, engine, interior or connectivity upgrades
A longer amortization can improve monthly cash flow but does not reduce the aircraft's operating expenses. Owners should compare the new financing structure with the aircraft's wider economics using ACMI World's private jet ownership cost guide .
Aircraft Equity Should Have a Job
A private jet may represent tens of millions of dollars of capital. Leaving substantial equity inside the aircraft can be perfectly rational when the owner values low leverage, but it should be an intentional capital-allocation decision rather than the accidental result of an old financing structure.
Global Jet Capital is particularly strong for specialized and complex aircraft refinancings. Bank of America, Huntington, Citizens and PNC offer significant institutional capability. BOK Financial has demonstrated cash-out aircraft refinancing, while 1st Source, First American, Truist and Cogent provide credible alternatives for different borrower profiles.
The correct refinance is the structure that improves the owner's overall capital position after accounting for interest, leverage, transaction costs, aircraft value, future maintenance and the expected remaining ownership period.
Private Jet Refinancing FAQ
Can you refinance a private jet?
Yes. Private and corporate aircraft loans can be refinanced with a new aircraft lender, subject to the aircraft, borrower, current value, existing loan payoff and lender underwriting requirements.
What is a private jet cash-out refinance?
A cash-out refinance replaces the existing aircraft debt with a larger loan. After the old lender is repaid, qualifying excess proceeds are distributed to the aircraft owner.
Can I finance a private jet after buying it with cash?
Yes. Some aviation lenders provide reimbursement or post-acquisition financing for aircraft that were initially purchased with cash, subject to timing, title, valuation and underwriting requirements.
How much equity can I take out of my private jet?
The amount depends on the aircraft's lender-approved value, the new loan-to-value ratio and the balance required to repay existing financing. Strong aircraft and borrower profiles can support higher advance rates than older or less liquid aircraft.
Can an older private jet be refinanced?
Yes, although lender appetite and amortization generally become more restrictive with age. Maintenance condition, engine programs, utilization and model liquidity can be as important as chronological age.
Can you refinance a balloon payment on an aircraft loan?
Yes. Aircraft owners commonly refinance the remaining principal when a loan reaches contractual maturity rather than paying the entire balloon from cash.
What loan-to-value is available for private jet refinancing?
It varies by lender and aircraft. Current published programs range widely, with some lenders advertising aircraft financing up to approximately 85% or 90% LTV and selected conventional credit structures potentially reaching higher levels for qualifying borrowers.
What is an aircraft sale-leaseback?
In a sale-leaseback, the owner sells the aircraft to a lessor and then leases it back. The transaction can release substantial capital while allowing continued use of the same aircraft.
Can refinancing include aircraft upgrades?
Yes. Some aviation lenders can include eligible engine, avionics, connectivity, interior or paint improvements as part of a new aircraft financing structure.
Which companies refinance private jets?
Credible U.S. options include Global Jet Capital, Bank of America Global Corporate Aircraft Finance, Huntington, Citizens Business Aviation, PNC Aviation Finance, BOK Financial, 1st Source Bank, First American Equipment Finance, Truist Wealth and Cogent Bank.
