AE Industrial Partners closes first transaction for fund | News | Airfinance Journal

AE Industrial Partners closes first transaction for fund

Allegiant Air has sold four Airbus A319s to private equity firm AE Industrial Partners (AEI) through a sale and leaseback transaction.

The transaction is the firm’s first from its AE Industrial Partners Aerospace Opportunities Fund, an aircraft and engine leasing investment platform launched early this year.

The terms of the transaction were not disclosed.

Allegiant treasurer and vice president of fleet and corporate finance Robert Neal said he was “happy” with the results of the transaction and looked forward to ongoing collaboration with the firm.

Airfinance Journal’s Fleet Tracker shows this will represent the first aircraft owned by AEI to be operated by the US carrier.
“We are excited to embark on this partnership with Allegiant and to complete the first aircraft leasing transaction for our AE Industrial Partners Aerospace Opportunities Fund,” said Mark Satran, senior managing director at AEI.

“We believe that Allegiant, with its low-cost, domestic leisure business model, is well-positioned for a strong return in 2021, as travelers look to reunite with family and friends. The workhorse nature of the A320 family aircraft is a great fit for our investors, and we’re impressed by what Allegiant’s management has rapidly accomplished during these turbulent times for the aviation industry,” he added.

Allegiant has tapped other sources for additional liquidity amid the crisis. Earlier this year it agreed an $84 million loan with from PK Airfinance secured against a pool of CFM spare engines and A320 family aircraft used as collateral.

 

Transaction SnapshotAllegiant Air | Finance lease | 10-20 | $23m (est) | 1xA320

Financial Close:
14/10/2020
Value:
$23.00m USD
Full Details

Transaction SnapshotAE Industrial Partners | Aviation Fund | 11-20

Financial Close:
17/11/2020
SPV:
AE Industrial Partners Aerospace Opportunities Fund
Full Details

Transaction SnapshotAllegiant Air | Sale leaseback | 11-20 | $36m (est.) | 4xA319

Value:
$36.00m USD
Full Details

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