The announcement represents a strategic
milestone for Phoenix Aviation Capital as it continues growing its
portfolio of next generation assets.
DUBLIN and
STAMFORD, Conn.,
July 12,
2024 /PRNewswire/ -- Phoenix Aviation Capital
("Phoenix"), a full-service
aircraft lessor, and AIP Capital ("AIP"), a global aviation asset
management and investment firm, today announced an agreement to
acquire a portfolio of ten LEAP-1B engines from CFM
International*.
The agreement demonstrates the strong
relationship between the parties and CFM and will support the
lessor's growth and mission of meeting the fleet and financing
needs of its global airline customers. The state-of-the-art LEAP-1B
engines are scheduled to be delivered between Q3 and Q4 2024.
Phoenix is
managed exclusively by AIP and benefits from AIP's extensive
experience in aviation and leadership. Mathew Adamo, Managing Partner at AIP, who
serves on Phoenix's Board
commented, "This order reflects a milestone in both AIP Capital's
and Phoenix's growth strategy. We
are excited to further expand our relationship with CFM and
recognize the reliability, fuel efficiency, and performance of the
LEAP engine family."
"We are proud to deepen our relationship with
Phoenix Aviation Capital," said Gaël Méheust, president and CEO of
CFM International. "This agreement bolsters our shared mission to
reduce aviation's environmental impact and to lower operational
costs for airlines through advanced technology and exceptional
service and support."
The agreement bolsters Phoenix's portfolio which is comprised of new
generation aircraft on long-term leases to a diversified customer
base of airlines across the globe. Additionally, Phoenix has an orderbook of 30 737 MAX 8
aircraft with Boeing.
*CFM International is a 50/50 joint company
between GE Aerospace and Safran Aircraft Engines.
About Phoenix Aviation Capital
Phoenix Aviation Capital is a full-service
aircraft lessor focused on financing modern, in-demand aircraft and
is dedicated to meeting the financing needs of its airline
customers across the globe. Phoenix Aviation Capital is based in
Dublin and is managed by AIP
Capital, a global aviation asset management and investment
firm.
For more information about Phoenix Aviation
Capital or to speak with company executives, please contact
investor.relations@phoenixaviationcap.com.
About AIP Capital
AIP Capital is a full-service aviation asset
manager focused on opportunities in the aviation sector. AIP
Capital believes its unique capital structure, relationships, and
hands-on approach enable the firm to provide creative and bespoke
solutions for airlines and other counterparties across market
cycles. With offices in Stamford
and Dublin, AIP is backed by a
full platform of professionals across finance and accounting,
technical, legal, risk management and underwriting.
For more information about AIP Capital or to
speak with company executives, please contact
investor.relations@aipcapital.com.
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SOURCE AIP Capital