AerCap completes 10-aircraft sale

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By admin October 5, 2015 21:28

AerCap completes 10-aircraft sale

AerCap has announced that it has completed the sale of a ten-aircraft portfolio to an entity advised by Magnetar Capital, an investment manager with $14.6 billion assets under management.

The aircraft types include four A330-200s, two 777-200ERs, two 777-300ERs, and two A320-200s with an average age of approximately 10.5 years. As part of the sale, AerCap has entered into an agreement with the purchaser under which it will continue to service the portfolio.

“We are pleased with the sale of these ten aircraft as it helps further balance the aircraft types in our portfolio,” said Ted O`Byrne, Chief Investment Officer of AerCap. “With the completion of this sale, the total amount of aircraft sold to date in 2015 is $1.2 billion. We are also delighted with the emergence of our new partner on the transaction and look forward to working with the Magnetar team in the future.”

David Snyderman, Global Head of Fixed Income at Magnetar, said: “This investment fits in well with Magnetar`s strong and growing portfolio of mid-life aircraft. We`re particularly pleased with our growing relationship with AerCap.”

admin
By admin October 5, 2015 21:28