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Zenith Aviation

Zenith Aviation

Supporting British businesses

When Zenith Aviation wanted to add a fourth Learjet 75 to its charter fleet, it was keen for specialist financial support from an experienced team who could turn around a deal quickly.

Rising customer demand meant Zenith needed to expand its fleet, based within Kent’s Biggin Hill Airport.

As the largest European operator of Learjet 75s, it had an envious growing client list including leading businesspeople and celebrities from pop star James Arthur to wrestler Triple H.

The company had identified a Learjet 75 - but time was of the essence to complete the deal and get the aircraft off the ground and making money for the business.

Stuart Mulholland, Managing Director at Zenith Aviation Limited, said: “Acquiring the Learjet 75 was a game-changer for us as it’s the product that all the brokers want to use. On average, we receive between 250 and 300 requests a day so having another aircraft available in the fleet makes us more able to accommodate them.”

Paragon pulled out all the stops... Time was of the essence with this deal and Paragon turned it around very swiftly...

How Paragon helped

Paragon’s Aviation Finance team swiftly secured a $7.9 million loan for Zenith Aviation.

With the ability to provide a dollar funding facility, it gives clients the choice to fund an aircraft in the currency it is purchased.

Stuart Mulholland added: “Paragon pulled out all the stops and from the quote through to the deal closing was less than four weeks in total, which is very impressive.

“Time was of the essence with this deal and Paragon turned it around very swiftly. The deal was agreed on Monday, I had the draft documents by the Wednesday. I’ve used many different banks over the years, but this went as smoothly as a deal can go.

“Anything that can simplify the process and make it user-friendly to a layman is a bonus.

“It sounds glamorous but buying a plane is actually a very complex transaction, so anything that can make that process more seamless is a benefit.”

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551