New State Aviation Holdings, a newly created holding company under New State Capital Partners, a middle-market private equity firm, has named Chad Cundiff as chief executive officer and Claude Draillard as chief financial officer.
Going forward, Cundiff and Draillard will additionally hold the same roles with AVEX, a newly acquired provider of sales and maintenance for the Daher TBM turboprop aircraft. Cundiff joins the firm with over 25 years of executive, managerial and professional aerospace experience. He most recently served as president of the Astronautics Corporation of America. Draillard joins the firm with over 25 years in the aviation industry. Draillard is the founder of AvionGarde, an aviation financial services firm.
“Establishing the senior executive team is the first step in growing our aviation-focused platform,” said Daniel Han, senior principal at New State. “We are pleased to welcome Chad and Claude to their new leadership roles and believe their aviation and management experience will prove invaluable as New State Aviation Holdings seeks to expand both organically and through acquisitions.”