Client Spotlight – Team Aero
Client Success Story
How Team Aero lands new business with agile lending solutions from Country Club Bank
Buying airplanes and airplane parts is expensive. Aircraft, even older ones that may not fly anymore, can run in the hundreds of thousands to millions of dollars, depending on the make and model.
When you factor in a global aviation market that often requires decisions and deals to be made in hours instead of days or weeks, there is little room for dithering or delays. Once sellers and buyers connect, agree on pricing, and strike a deal, the cash for closing must be ready to wire.
Jeff Altendorf, principal and co-owner of Team Aero, along with his brother Phil, works in this high-stakes, high-speed environment every day. A passionate aviator since his youth, Altendorf turned his love for flying into a full-time pursuit when he founded Team Aero with Phil in 2006.
What began as a small regional operation in Spring Hill, Kansas, buying and parting out aircraft for spares, has evolved into an international leader, specializing in parts and recyclable components for business jets like Citations, Falcons, and Learjets.
“We started simply by parting out one plane, and then another, and so on, and we made money, but it was always a challenge to use our capital,” said Altendorf. “We had to get creative and constantly figure out how to get the cash we needed for new deals.”
Opportunities to acquire aircraft for parting out often arose suddenly, and without ready capital, Altendorf had to presell engines or avionics packages to finance these deals. This approach, while necessary, usually meant leaving money on the table.
A critical turning point came when Team Aero partnered with Country Club Bank. With a line of credit and ready-made, short-term loans designed specifically for Team Aero’s aircraft and inventory parameters, Altendorf has been able to access the necessary capital to secure deals without having to presell assets.
“Once Country Club Bank learned about our business and saw our success, they were able to get behind us, and that’s made a huge difference,” Altendorf said. “We can buy better, sell at better margins, and stock the inventory we need to serve a national and international market.”
One recent example highlights the importance of this partnership. Altendorf was presented with an opportunity to acquire an aircraft in Mexico, a deal requiring immediate action. Thanks to the pre-established financial agility of Country Club Bank, Altendorf secured the necessary funding quickly, outmaneuvering competitors.
In addition to the financial support, Altendorf values his personal relationship with the bank’s team and appreciates its straightforward approach—knowing that when they say a deal can be done, it will be done.
“All banks do pretty much the same thing, but nobody does it like Country Club Bank,” Altendorf said. “I enjoy working with them personally, and they do what they say they’re going to do.”
Looking ahead, Team Aero is expanding further by constructing a new 15,000-square-foot hangar at New Century Airport, which will consolidate operations and enhance efficiency. Altendorf is energized to continue growing Team Aero and is pleased to fund it with capital from Country Club Bank.
