Apollo Aviation Group contracts for $220 million in acquisitions in 2013

Apollo Aviation Group (Apollo Aviation), an international full service aviation asset manager, has contracted to acquire flight equipment valued at more than $220 million in the first five months of 2013, including two A320 CEO family aircraft, one A330-200, one A330-300, seven B737NGs, and seven engines.  Ten of these aircraft are on lease to airlines in Asia, Europe and North America.  As of May 31, 2013, Apollo Aviation managed a total of 76 leased aircraft and engines.

The acquisitions are all being made on behalf of SASOF II, which is an investment fund with approximately $595 million in capital commitments that seeks to acquire mid-life in-production aircraft models for lease or immediate disassembly and resale of the systems, components and parts.  SASOF II is managed by wholly-owned subsidiaries of Apollo Aviation.  As of May 31, 2013, SASOF II had committed to acquire a further 25 aircraft and ten engines. 

William Hoffman, Apollo Aviation’s Chairman commented, “Apollo Aviation continues to acquire favorably priced in-production aircraft models.  Through our investment vehicles, we are becoming a significant lessor of mid-life in-production flight equipment.”