APOLLO AVIATION GROUP SECURES $213 MILLION FINANCING

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By admin November 16, 2010 09:18

APOLLO AVIATION GROUP SECURES $213 MILLION FINANCING

Apollo Aviation Group has raised $213 million for its Sciens Aviation Special Opportunities Fund from a broad array of domestic and international investors for its aviation fund, the Sciens Aviation Special Opportunities Fund (SASOF).

SASOF is managed by an affiliate of Apollo Aviation Group, a full service commercial aircraft investment and asset manager jointly owned by its founders and principals, William Hoffman and Robert Korn, and Sciens International Investments and Holdings, an affiliate of Sciens Capital Management.

“SASOF will acquire commercial aircraft for short term lease and/or immediate disassembly and resale of the systems, components and parts,” says Hoffman, Apollo’s chairman. “The fund has already completed the purchase of 11 commercial aircraft, is now contracting to acquire 16 more, including Boeing 747-400, 757-200 and 767-200 aircraft, as well as the Airbus A300-600 and A320-200, and expects to continue acquiring older aircraft for another year.”

”The Fund is designed to capitalize on the profit opportunities afforded by the very large decline in used commercial aircraft values that resulted from the worldwide economic crisis,” said Korn, Apollo’s president.

“The sourcing of $213 million domestically and internationally is an endorsement of our business model and strategic plan that acquires assets that make good end-of-life cycle candidates in the near- to medium-term,” says David Treitel, managing director. “We have acquired more than 70 aircraft since June, taking advantage of the opportunities that exist in the changing commercial aviation environment.”

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By admin November 16, 2010 09:18
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