Busy week for ACG; Fabian takes over the helm at Elix Aviation

Eleanor Steed
By Eleanor Steed January 10, 2017 16:09

Busy week for ACG; Fabian takes over the helm at Elix Aviation

Aviation Capital Group (ACG) has placed follow-on orders with Airbus for 35 additional A320-family aircraft, consisting of 30 A320neo-family aircraft, two A320ceo aircraft and three A321ceo aircraft. ACG has also secured the option to purchase 10 additional A320neo aircraft.

Including this commitment, ACG and its subsidiaries have ordered a total of 158 A320-family aircraft directly from Airbus, consisting of 61 A320neo-family and 97 A320ceo-family aircraft. Of the 158 aircraft ordered, 66 aircraft have yet to be delivered.
“The A320 Family is one of the prime building blocks of our portfolio growth strategy,” said Khanh T. Tran, CEO of ACG. “We look forward to placing these highly fuel efficient aircraft with our airline customers around the world.”

“It’s a pleasure to see ACG renew its confidence in the fuel efficient A320 Family,” said John Leahy, Airbus Commercial Aircraft Chief Operating Officer Customers. “ACG will be able to offer its airline customers the latest and most advanced A320s that will notably deliver unmatched comfort to passengers. This order confirms that the A320 Family is a fantastic long term asset and investment in the portfolio of lessors.”

Also today, ACG confirmed the closure of the mid-life aircraft portfolio sale to a financial investor. The mid-life portfolio consists of in-production A320 and B737 family aircraft. The aircraft are on lease to a globally diverse group of airlines. R.W. Pressprich & Co. acted as the special seller advisor and exclusive placement agent of the equity for this transaction.

“We are very pleased to announce this portfolio sale,” said Andy Mansell, ACG executive vice president, global head of marketing and trading. “ACG works with many aircraft investors and is an active buyer and seller of aircraft.”

Steve Welo, managing director at R.W. Pressprich, stated: “We are very pleased to have advised and placed the equity for ACG on this transaction. Our creative approach provided a way for ACG to leverage its global operating lease and asset management platform on behalf of financial investors in this sector.”

Meanwhile, it has been announced that Volker Fabian is taking over as chief executive officer at Elix Aviation Capital, the Dublin-based turboprop commercial aircraft lessor, from March 1, 2017. Fabian has over 20 years’ experience in the aviation finance industry and joins from BOC Aviation.

Commenting to his appointment, Fabian said: “I am delighted to be joining Elix as it moves into the next exciting phase of its development. I have been impressed by the visionary business model of the company and the entrepreneurial spirit of the team. I very much look forward to collaborating with the Elix team as well as our customers to further strengthen Elix’s position as a leading lessor in the turboprop market.”

Elix co-founders Antonis Simigdalas and Emmanuel Carousos will be supporting the company’s next growth phase through their new mandates at the company’s board of directors.

Simigdalas, currently chief executive officer, will be appointed chairman, while deputy CEO and chief investment officer, Emmanuel Carousos, has been promoted to the board of directors where he will serve as executive director with responsibility for strategy, risk, and finance.

Simigdalas commented: “Volker is a strong leader, and brings a wealth of experience from the leasing and aircraft-finance markets. I look forward to working closely with him as Elix continues its journey towards further successes. I am also delighted that Emmanuel Carousos will join us on the board of directors where his insight and expertise will be of benefit to all of us.”

Eleanor Steed
By Eleanor Steed January 10, 2017 16:09