SKY Leasing Acquires Initial Seven Aircraft

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Sep 28, 2016, 07:16 ET

DUBLIN, Sept. 28, 2016 /PRNewswire/ -- Through two separate secondary market transactions, SKY Aviation Leasing International Limited ("SKY Leasing") acquired seven commercial aircraft on lease with five existing customers (airberlin, Gol Linhas Aéreas, Jet Airways, SpiceJet, and Thai Lion Air) and two new customers (Beijing Capital Airlines and China Airlines). Consistent with SKY Leasing's investment strategy of building a fleet of young mid-life aircraft on long-term leases with top-tier airlines globally, the transactions were funded with a recently closed $750 million warehouse debt financing facility. The portfolio of acquired assets includes one A321-200, four B737-800s, one 737-900ER, and one A330-300, with a weighted average age of less than three years, and a weighted average remaining lease term of eight years.

About SKY Leasing

SKY Leasing and its affiliates are a premier aircraft leasing group with headquarters in Dublin, Ireland and a regional office in San Francisco, California. A full-service leasing platform, SKY Leasing leverages its deep experience, global networks, industry insights and managerial talent to acquire and lease young mid-life aircraft. The group's team of industry professionals, led by Rich Wiley, has developed extensive relationships in the international airline community by leasing aircraft to over 200 airline customers globally and executing more than 600 aircraft transactions valued at over $20 billion.

SKY Leasing is owned by ATL Partners, PSP Investments and members of management who have partnered to support SKY Leasing in its corporate mission of being a leading capital provider to commercial airlines and to the secondary market globally.

For more information, visit www.skyleasing.com.

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SOURCE SKY Leasing