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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