14 Apr 2024

AIP Capital launches Phoenix Aviation Capital

AIP Capital launches Phoenix Aviation Capital

AIP Capital announced the formation of Phoenix Aviation Capital a full-service aircraft lessor focused on financing modern, in-demand aircraft across the globe with offices in in Dublin, Ireland and Stamford, Connecticut. Phoenix is owned 100% by a U.S-based insurance and financial services holding company with approximately $11 billion of assets under management. As part of the transaction, Phoenix's owner has also acquired a 49% stake in AIP with AIP's management team continuing to own a 51% majority. Phoenix has a definitive agreement to acquire the rights, interests and obligations of a portfolio of 30 737-8 aircraft from 777 Partners.

AIP Managing Partner Mathew Adamo, said "We are excited to announce the creation of Phoenix Aviation Capital which our team has been working on for the past several months. The creation of Phoenix represents a key milestone in executing our strategy of meeting the fleet and financing needs of our global airline customers across market cycles."

Liebherr enters into air cargo market

Liebherr-Aerospace Saline and LHColus announce the signature of a Sole Distribution Agreement for LHColus’ quick conversion passenger to freighter cargo solution. The Class F Quick Change is implemented by the means of a simple, fast, and fully reversible modification on the aircraft. Its efficiency and reliability have been field proven with a sizeable fleet operating for over 2 years in Latin America that has already accumulated more than 18 thousand flight hours and transported over 15.3 million (e-commerce) packages equivalent to 33.3 thousand tons of payload. The solution is currently certified for Embraer E190 aircraft but can be extended to other single aisle aircraft types.

Spirit Airlines Defers Airbus Deliveries

Spirit Airlines announced that it reached an agreement with Airbus to defer all aircraft on order that are scheduled to be delivered in the second quarter of 2025 through the end of 2026 to 2030-2031. The agreement will improve Spirit's liquidity position by approximately $340 million over the next two years.  The carrier stated deferrals do not include the direct-lease aircraft scheduled for delivery in that period, one each in the second and third quarter 2025.

Spirit's President and Chief Executive Officer Ted Christie said "Deferring these aircraft gives us the opportunity to reset the business and focus on the core airline while we adjust to changes in the competitive environment. In addition, enhancing our liquidity provides us additional financial stability as we position the Company for a return to profitability. We would like to thank our partners at Airbus for their continued support and commitment to the long-term success of Spirit." 

Acumen Aviation © 14 April 2024 All Rights Reserved.