Boston MedFlight to purchase new aircraft
The air medical provider has received tax-exempt leases worth US$16.8 million to support the purchases
US air ambulance operator Boston MedFlight has been awarded tax-exempt leases worth a combined $16.8 million by the Massachusetts Development Finance Agency (MassDevelopment).
The leases will be used by Boston MedFlight to buy and medically retrofit a Cessna Citation CJ4 jet and an Airbus H145.
MassDevelopment has confirmed that the Banc of America Public Capital Corp (Bank of America) has purchased the leases, with the result of helping Boston MedFlight achieve a lower cost of capital.
“Boston MedFlight is an asset to the commonwealth’s healthcare ecosystem with its dedicated transport, care, and communications teams getting patients where they need to be in the event of a life-threatening emergency,” said Dan Rivera, President and CEO of MassDevelopment. “Over the past decade, our tax-exempt financing has helped the organization add several aircraft to its advanced fleet to expand and carry out its mission on behalf of Massachusetts communities.”
“These aircraft will enhance our intensive care fleet, allowing us to safely and quickly transport patients to the region’s world-class hospitals,” added Maura Hughes, CEO of Boston MedFlight. “We appreciate MassDevelopment’s support in helping us expand our capabilities across New England.”
Boston MedFlight previously added another Cessna Citation CJ4 to its fleet in June 2023.
Oliver Cuenca
Oliver Cuenca is a Junior Editor at AirMed&Rescue. He was previously a News and Features Journalist for the rail magazine IRJ until 2021, and studied MA Magazine Journalism at Cardiff University. His favourite helicopter is the AW169 – the workhorse of the UK air ambulance sector! He also led the creation of Waypoint: The AirMed&Rescue podcast, serving as its Production Editor and co-host.