Kodiak Air Service

The Opportunity

Experienced Alaskan charter pilot, Will Fulton, needed a plane to start his own single-pilot charter flight touring service. The demand for charter flights has grown steadily since 2013. The Kodiak, Alaska area is a popular destination for bear viewing tours, hunting, and fishing. This was the perfect time for Will to start his business. All he needed was financing or a charter plane.

The Challenge

Although he has over 30 years as a commercial and charter pilot, he had limited financing options because of his lack of business management experience and moderate net worth.

Other lenders didn’t account for his existing flight contract with Sea Hawk Air, another small charter flight service in Kodiak, Alaska. He flies over 325 hours with Sea Hawk Air, which supplements his income and reduces the Bank’s risk in financing a start-up.

A friend familiar with Celtic Bank’s flexible financing solutions recommended Will to the Bank. Will’s flight contract with Sea Hawk Air, extensive pilot experience, and good credit were the deciding factors in Celtic’s decision to finance his charter plane with a Celtic Advantage Loan.

The Solution

Once Will received financing, he could finally purchase that 1951 Dehavilland Beaver Seaplane and
start scheduling tours. Will is on track to hit his target number of flights for the season despite getting a
late start. He expects to book even more tours next season. Financing from Celtic gave Will’s dream of
owning his own business—wings.