AOPA: Aerospace companies set up NextGen fund to help pilots retrofit planes
As the Federal Aviation Administration flies along with work on its NextGen program, several U.S. aerospace companies are setting up a fund to help pilots properly equip their planes to use the new technology. ITT Corp. and Nexa Capital Partners are heading up the establishment of the fund that will total “well over” $1 billion, says Nexa managing partner Michael Dyment. That should be enough money to cover up to 80% of the U.S. commercial transport planes that need cockpit retrofitting. AviationWeek.com
As the Federal Aviation Administration flies along with work on its NextGen program, several U.S. aerospace companies are setting up a fund to help pilots properly equip their planes to use the new technology. ITT Corp. and Nexa Capital Partners are heading up the establishment of the fund that will total “well over” $1 billion, says Nexa managing partner Michael Dyment. That should be enough money to cover up to 80% of the U.S. commercial transport planes that need cockpit retrofitting. AviationWeek.com
